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Category Archives: Sheldon Adelson
Nevada: “Cautious optimism”
That’s how UNLV‘s gaming guru, Prof. David G. Schwartz, describes his reaction to the October revenue numbers, released today. The 11% autumnal bounce may be less notable for the fact that the Strip was up 16% than the fact that … Continue reading
Posted in Animals, Boulder Strip, Boyd Gaming, Cordish Co., Current, Downtown, Economy, history, International, Marketing, Mesquite, MGM Mirage, Pets, Regulation, Reno, Sheldon Adelson, Steve Wynn, Technology, The Strip, Tourism, Wall Street
1 Comment
Case Bets: Adelson vs. China; Cirque du Avatar? Indiana wallops Illinois
In a lengthy Asia Times dispatch, the reliable Muhammad Cohen runs through various scenarios about why the government of Macao would pull back two Cotai Strip™ sites from a ‘george’ investor like Las Vegas Sands. Since the acreage will probably … Continue reading
Old Sixty Votes folds again; Butera’s blunder
Hey, Harry Reid, the casino industry called. It wants its money back. In all-too-predictable collapse, Old Sixty Votes threw in the towel on efforts to explicitly legalize online poker in the U.S. Since the issue is now dead for two … Continue reading
Cosmo rides the wave; Old Sixty Votes rides again
It may be $1.9 billion over budget and 2.5 years behind schedule but The Cosmopolitan appears to be hitting the market with perfect timing. That’s good news for the 5,000 employees who are furiously getting acclimated with the new megaresort. … Continue reading
2014 is the new 2007; Good news from Pennsylvania, Detroit
It will take Las Vegas seven years to return to its former prosperity. Or so concludes a new report from consulting firm PricewaterhouseCoopers, which sees casino revenue improving in late 2011 (in line with a Moody’s Investor Service report that … Continue reading
Cosmo attempts suicide; a big (Para)bounce?
Maybe Union Gaming analyst Bill Lerner knew something the rest of us didn’t when he predicted the opening of The Cosmopolitan (aka “Osmopo”) would improve business for other high-end hotels on the Strip. After all, what could send New Year’s … Continue reading
Macao smacks down Adelson
So the Chinese government was just bluffing, huh? Talk about taking land back was merely political posturing, was it? Once again, Wall Street and hubristic casino barons alike have been given a sharp reminder just who’s calling the shots over … Continue reading
Isle’s comeback continues; What’s in a Mystic?
Congratulations to Isle of Capri Casinos, winner of Missouri‘s 13th and final casino license. This morning, the Missouri Gaming Commission voted in favor of Isle’s $125 million Cape Girardeau project. Although all rival projects were budgeted higher, favorite-son Isle’s standing … Continue reading
Pinnacle sees Kasich, raises him $45 million
Pinnacle Entertainment pushed $45 million worth of chips into the middle of the poker table that is Ohio last week. Buying River Downs is a seven-figure wager that Gov.-elect Jon Kasich will resume outgoing Gov. Ted Strickland‘s push for VLTs … Continue reading
Posted in Economy, Election, International, Macau, MGM Mirage, Ohio, Pinnacle Entertainment, Racinos, Regulation, Sheldon Adelson, Station Casinos, Tribal
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‘Net betting: Wait til 2013 … or 2015 … or 2017 … or …
That was the consensus of a G2E panel that featured former California legislator Lloyd Levine, CNIGA Director of Government Affairs Jerome Encinas and Harrah’s Entertainment‘s top lobbyist, Jan Jones. With HR 2267 still several steps shy of passage and its … Continue reading
Posted in California, Current, Election, Florida, G2E, Harrah's, Harry Reid, International, Internet gambling, MGM Mirage, Politics, Sheldon Adelson, Taxes, The Strip, Tribal
3 Comments
Steelman: Small is profitable
Before he got elbowed aside in favor of ‘starchitects,’ Paul Steelman was one of the go-to designers on the Las Vegas Strip. He’s also one of the very few people who can say they’ve worked — without repercussion — for … Continue reading
Sheldon Adelson, beard
Last week, S&G unearthed a contribution from self-professed “too liberal” Sheldon Adelson to flaming homophobe Rep. Michele Bachmann (R-MN). Turns out, she’s not the only apostle of intolerance with whom Adelson has crept under the covers. Last Sunday, the Las … Continue reading
Posted in Election, Harrah's, International, Macau, MGM Mirage, Midnight Jim Gibbons, Politics, Sheldon Adelson, Steve Wynn
8 Comments
G2E bargain at Station; analysts split on Sands
If you’re looking for an affordable room in Las Vegas during Global Gaming Expo, try Expedia‘s German site (“.de”). A European-based S&G source reports finding rooms at Boulder Station going for €57 and Fiesta Rancho asking €59 — or $79 … Continue reading
Quote of the Day
“I’m not into psychoanalyzing people, I don’t have the background for that, but he just doesn’t seem particularly happy with everything and every success that he’s had.” — Rep. Shelley Berkley (D-NV) on former boss Sheldon Adelson. The latter’s 2010 … Continue reading
Posted in Election, Politics, Sheldon Adelson
1 Comment
Twilight of the gods?
It’s been obvious since jump street that MGM Resorts International bit off more than it could chew when it upsized its ambitions for the old Boardwalk site into a civic citadel, a Valhalla on the Strip. Behind CEO Jim Murren‘s … Continue reading
Murren: I heart CityCenter; Wynn: I heart China; Angle: I heart Latinos … plus Boyd’s new fragrance
MGM Resorts International and old ball and chain Dubai World have consummated a deal to extend $1.8 billion in CityCenter loans, a reworking that MGM CEO Jim Murren calls “a capital structure that’s much more … in keeping with a … Continue reading
[Your casino here]
As I find myself in frantic catch-up mode, one of the tasks confronting me is about 40 pages of Wall Street analysis on Las Vegas Sands‘ third quarter. (Hint: It was extremely good.) In honor of Sheldon Adelson, here’s the … Continue reading
Posted in Dining, Marketing, Pennsylvania, Sheldon Adelson, TV, Wall Street
2 Comments
Singapore: Mission accomplished
A curious item popped up on the Manila Web site MB.com last week. Remember how Macao was “Asia’s Las Vegas”? The new meme is “More Than Just the New Vegas” (emphasis added). The lengthy puff piece rather strenuously posited Macao … Continue reading
Posted in Current, Dining, Genting, Harrah's, International, James Packer, Lawrence Ho, Macau, Marketing, Pennsylvania, Regulation, Sheldon Adelson, The Strip, Tourism
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Galaxy Cotai postponed; MGM stages a comeback
It’s not official but, seeing as two top executives at the Macao megaresort (including its COO) just got the chop, it appears pretty likely. A project that was expected to open in late March of next year now looks as … Continue reading