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Category Archives: Sheldon Adelson
New shakeup at Melco; Adelson goes tropical
Those of you for whom Melco Crown Entertainment has been a bumpy ride are about to experience additional turbulence. CFO Simon Dewhurst has stepped down and MPEL board has — rather late in the day — decided “to find a … Continue reading
Rising Sun; At Harry’s mercy
It’s not news that Japan has been mulling casino gambling for the umpteenth time. What is news is that the Diet — or rather, the General Assembly of International Sightseeing Industry Development Diet Member Association — has gotten very serious … Continue reading
Ruffin: No bull
Treasure Island owner Phil Ruffin and his beloved mechanical bull made a guest appearance on CNBC and, characteristically, pulled no punches. (Ruffin, that is. The bull had no comment.) Even as MGM Resorts International, Harrah’s Entertainment and Las Vegas Sands … Continue reading
East Coast winners, losers; Angle’s strange bedfellows
I’ve become well and truly tired of writing about Massachusetts and its political establishment’s inability to get its act together on casino legalization. Suffice it to say that with Gov. Deval Patrick and House Speaker Robert DeLeo (left) firmly entrenched … Continue reading
Posted in Atlantic City, Current, Economy, Election, Entertainment, Harrah's, Horseracing, Massachusetts, Pennsylvania, Politics, Racinos, Sheldon Adelson
5 Comments
Bad quarters for MGM, Boyd
Undershooting Wall Street‘s expectations for 2Q10, MGM Resorts International missed analyst projections and also took a big-ass writedown on CityCenter (above) consigning $1.2 billion to the dustbin. Hotel occupancy was up from 85% to 93% overall (although RevPAR slipped a … Continue reading
Business is booming … overseas
At some point, Peking may decide that Macao is overheated but for the moment it’s simply red-hot. Revenues vaulted 70% last month, to the tune of $2 billion U.S. dollars (or $25,435,856,924 Zimbabwean), the second-best number in Macanese history. Wynn … Continue reading
Concord in Massachusetts; Mixed bag at Melco
It’s been leaked to the Boston Globe that a deal is at hand that would resolve the impasse currently holding casino-enabling legislation at bay. While still probably not to Gov. Deval Patrick‘s liking (he wants one racino, the compromise bill … Continue reading
Posted in Arizona, Bally Technologies, Current, Detroit, Economy, Election, IGT, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, Politics, Racinos, Sheldon Adelson, Slot routes, Steve Wynn, The Strip, Tourism, WMS Industries
Comments Off on Concord in Massachusetts; Mixed bag at Melco
Like I’ve been saying …
… strength in hotel rates is a top-down proposition, with such “recovery” as we’re seeing being driven by high-end product. The renewed strength in the business-travel sector also jibes with reports we’ve been getting from Las Vegas Sands and MGM … Continue reading
Posted in Atlantic City, Economy, Harrah's, MGM Mirage, Sheldon Adelson, The Strip, Wall Street
1 Comment
Adelson fires Sands China CEO; Kenny Guinn, 1936-2010
It’s getting rather slippery on the tiled floors of Venelazzo and its Macao offshoots, what will the frequent bloodbaths that are becoming a hallmark of Sheldon Adelson‘s reign as creator and CEO of Las Vegas Sands. The victim sent over … Continue reading
Chris Christie, rock star
New Jersey‘s outspoken governor lays down some righteous grooves at Meadowlands, including telling the horsey set what it needs to hear: “I don’t have the money to be subsidizing failure.” Gov. Chris Christie on New Jersey horseracing: this industry has … Continue reading
The great Hilton showroom massacre (and other light news)
In true Colony Capital fashion, the Las Vegas Hilton continues to shed parts like a rattletrap car. Our LVA research team reports that Shimmer Cabaret fixtures Voices (“Starring the beautiful and talented Lani Misalucha“) and Sin City Bad Girls have … Continue reading
Posted in CityCenter, Colony Capital, Current, Donald Trump, Entertainment, Environment, Marketing, MGM Mirage, Riviera, Sheldon Adelson, The Strip, Tourism
Comments Off on The great Hilton showroom massacre (and other light news)
What’s that smell at Red Rock?
No, it’s not the ethical stench of the Station Casinos‘ LBO/bankruptcy/reorganization process. It’s the hazmat situation brought on by the careless handling of chemicals. Chlorine was pumped into an acid tank, causing respiratory irritation, a few hospitalizations — a no … Continue reading
Galaviz hearts Singapore — with caution
Analysts continue to do a 180 from their cautious outlook on Singapore five years ago. Among those raining plaudits on the early performance of the city-state’s two megaresorts is Jonathan Galaviz of Galaviz & Co. He estimates that Singapore will … Continue reading
Posted in Current, Economy, Genting, International, Regulation, Sheldon Adelson, Singapore, Tourism, Wall Street
1 Comment
Recovery? Not in the cards
Month after month of discouraging data from around the country makes it clear that any recovery in the casino industry is a long way off, perhaps years. Heck, just getting back to 2007 levels of prosperity doesn’t take into account … Continue reading
Your questions, answered
Paul Shanahan writes (in part): I think Fontainebleau would have looked much better if it was around 500 feet high instead of being close to 730 feet. It looks bulky and just kind of bizarre down there at the north … Continue reading
Wynn Beantown?; Adelson likes it rough; “Chico Station,” etc.
“Two can play this game.” That’s the message coming from Steve Wynn. Since his former Philadelphia partners are now playing footsie with Harrah’s Entertainment, Wynn is turning his back on the City of Brotherly Love and shifting his gaze to … Continue reading
Posted in Ameristar, Boyd Gaming, Environment, George Maloof, Harrah's, Horseracing, Macau, Marketing, Massachusetts, Missouri, Pennsylvania, Politics, Racinos, Regulation, Sheldon Adelson, Singapore, Sports, Station Casinos, Steve Wynn, Technology, The Strip, Tribal, TV
Comments Off on Wynn Beantown?; Adelson likes it rough; “Chico Station,” etc.
Riviera: Non-story of the year
In what was 2010’s biggest foregone conclusion, Riviera Holdings filed bankruptcy yesterday. This has been coming a long time although the scanty news coverage leaves it unclear whether what’s taking place is the pre-packaged bankruptcy that would see the Riv … Continue reading
Posted in Alabama, Animals, Boyd Gaming, CityCenter, Current, Economy, Election, International, Macau, MGM Mirage, Michael Gaughan, Pansy Ho, Politics, Regulation, Riviera, Sheldon Adelson, Silverton, Steve Wynn, The Strip, Tourism, TV, Wall Street
3 Comments
S&G hither & yon
Last weekend’s usual barrage of errands, veterinary appointments, etc., was interrupted long enough for Yr. Humble Blogger to guest-host another edition of The Strip Podcast. In it, I reveal my shameful ignorance of televised poker (something I literally tuned out … Continue reading
Posted in Ameristar, Architecture, Cannery Casino Resorts, CityCenter, Cosmopolitan, Dining, Downtown, Economy, Entertainment, Harrah's, Isle of Capri, MGM Mirage, Missouri, North Las Vegas, Pinnacle Entertainment, Regulation, Sheldon Adelson, Sports, Technology, The Strip, Tilman Fertitta, TV, Wall Street, World Series of Poker
1 Comment
Quote of the Day
“I don’t listen to a critic who is not rich because I say, ‘If you’re so smart, why aren’t you rich? I send these guys embroidered Sheldon Adelson towels with a handwritten letter that says, ‘This is for you to … Continue reading
Posted in Sheldon Adelson, Wall Street
2 Comments
It’s Sheldon’s world, we just live in it
Oh, how I envy Sheldon Adelson. My own hair grows thinner and grayer while his becomes thicker and darker. (The photo at left, shows Classic Sheldon, circa 1999.) But I digress … Adelson is one of the stars of an … Continue reading
Posted in Architecture, CityCenter, Cosmopolitan, Current, Economy, Florida, International, Macau, Pennsylvania, Sheldon Adelson, Singapore, Stanley Ho, Taxes, Texas, The Strip, Tourism, Wall Street
4 Comments