Category Archives: SLS Las Vegas

Gaming companies seek to hide financial results; Murren bullish on MGM

Posted on February 22, 2016 by David McKee

When the gaming industry speaks, Frank Schreck‘s lips move. His latest move is to propose a removal of the transparency that applies to casinos owned by investment banks and funds, such as the Hard Rock Hotel & Casino and SLS … Continue reading →

Posted in CityCenter, Economy, Florida, Hard Rock Hotel, Internet gambling, MGM Mirage, Regulation, SLS Las Vegas, The Strip | Comments Off

Hope for Atlantic Club; Boffo month for Maryland

Posted on January 6, 2016 by David McKee

Not so fast, says Endeavor AC about yesterday’s report that its purchase of the Atlantic Club was defunct. The would-be purchaser says it has “a very strong and creditable private equity source to finance the acquisition and development of the … Continue reading →

Posted in Atlantic City, Cordish Co., Dan Gilbert, Glenn Straub, Golden Gaming, Harrah's, Japan, Law enforcement, Maryland, Penn National, Pennsylvania, Planet Hollywood, Politics, Problem gambling, Racinos, Revel, Sheldon Adelson, SLS Las Vegas, The Strip, Tourism | Comments Off

Up and down the Strip

Posted on November 17, 2015 by David McKee

SLS Las Vegas is finally doing better, if by “doing better” you mean losing only $39 million in a full 3Q15 as opposed to the $46 million lost in the truncated (five-week) 3Q14. Stockbridge Capital Partners continues to have to … Continue reading →

Posted in Architecture, Cosmopolitan, Derek Stevens, Downtown, Economy, Fontainebleau, Genting, Harrah's, James Packer, Lucky Dragon, LVCVA, Marketing, MGM Mirage, Riviera, Sam Nazarian, Sheldon Adelson, SLS Las Vegas, Tamares Group, Taxes, The Strip, Wall Street | 2 Comments

SLS gets new patron; Mixed quarter at Caesars

Posted on November 10, 2015 by David McKee

Revolving doors continue to spin, metaphorically, at SLS Las Vegas. No sooner had Hilton Worldwide dropped the property from its Curio brand but Starwood Resorts Worldwide picked up part of the property and slapped its W hotel escutcheon on it. The … Continue reading →

Posted in Harrah's, International, Macau, Marketing, Maryland, Regulation, Sam Nazarian, SLS Las Vegas, Station Casinos, Technology, The Strip | 1 Comment

New blows to Adelson, SLS; Seminoles’ air war

Posted on November 6, 2015 by David McKee

Ex-Sands China CEO Steven Jacobs‘ wrongful-termination case will still proceed under the gavel of Judge Elizabeth Gonzalez. The Nevada Supreme Court, in an unpublished opinion, reaffirmed Gonzalez’s standing in the case and also ordered Las Vegas Sands to pony up … Continue reading →

Posted in Florida, Indiana, Internet gambling, Macau, Politics, Regulation, Sam Nazarian, Seminole Tribe, Sheldon Adelson, SLS Las Vegas, Taxes, The Strip, TV | Comments Off

Packer on the move in Vegas; Impending strike in Detroit?

Posted on November 4, 2015 by David McKee

Formally speaking, Alon hasn’t broken ground but that hasn’t stopped James Packer‘s bulldozers and backhoes from moving earth around at the site of the planned megaresort, as well as leveling some of the landscaping Steve Wynn paid for to conceal … Continue reading →

Posted in Architecture, Carl Icahn, Dan Gilbert, Detroit, Fontainebleau, Genting, James Packer, MGM Mirage, SLS Las Vegas, Steve Wynn, The Strip | Comments Off

Station goes public; Florida compact near?

Posted on October 14, 2015 by David McKee

Having tried and failed to grow the company through an LBO, Station Casinos is returning to the public markets again, citing “favorable economic and market fundamentals” in support of an IPO. An executive shakeup that included the promotion of Rich Haskins … Continue reading →

Posted in Atlantic City, Boyd Gaming, Economy, Florida, Fontainebleau, Horseracing, Internet gambling, New York, Pennsylvania, Politics, Seminole Tribe, Sheldon Adelson, SLS Las Vegas, Station Casinos, Steve Wynn, Wall Street | Comments Off

So long, Sammy; DFS gets a wakeup call

Posted on October 8, 2015 by David McKee

As predicted here, Sam Nazarian has liquidated his 10% stake in SLS Las Vegas to majority owner Stockbridge Capital Group. He’ll still get some extra cash out of the deal, which licenses his SLS brand to Stockbridge (although you could … Continue reading →

Posted in Aristocrat, G2E, Regulation, Sam Nazarian, SLS Las Vegas, Sports, Wall Street | Comments Off

China is the watchword; Atlantic City rebounds

Posted on September 16, 2015 by David McKee

Builders of $135 million Lucky Dragon Casino, across Sahara Avenue from the former Circus Circus RV park, are fast-tracking the project for a mid-2016 opening. Financed with EB-5 visa contributions, Lucky Dragon hopes to be a one-stop shop for Chinese players … Continue reading →

Posted in Animals, Atlantic City, Culinary Union, Dining, Election, Lucky Dragon, Macau, Regulation, Sheldon Adelson, SLS Las Vegas, Stanley Ho, Steve Wynn, Technology, The Strip, Tourism, Wall Street | Comments Off

SLS: Sinking less slowly

Posted on August 27, 2015 by David McKee

Judging by the looks of this going-out-of-business sale at SLS Las Vegas (and the exorcism of the Fred Segal name from the Web site), more rats are scurrying off Sam Nazarian‘s sinking ship. It makes me sorry my wife and … Continue reading →

Posted in Sam Nazarian, SLS Las Vegas, The Strip | Comments Off

Caesars’ pound of flesh; SLS plays the Red Bull card

Posted on August 21, 2015 by David McKee

Banks and other lending institutions aren’t going to simply forebear while Caesars Entertainment ownership absconds with all the assets. No, they want equity if they’re going to forgive debt and drop lawsuits. And if those lawsuits drag the parent company … Continue reading →

Posted in Election, Harrah's, history, Internet gambling, Marketing, Massachusetts, SLS Las Vegas, Tribal, Wall Street | Comments Off

Optimism at MGM; SLS: The Unhappy Blob

Posted on August 20, 2015 by David McKee

MGM Resorts International sent CFO Dan D’Arrigo to meet with J.P. Morgan analysts, who found MGM execs in an upbeat mood. “We’d characterize the tone of the meetings as positive and investor interest as high,” wrote analyst Joseph Greff. That’s … Continue reading →

Posted in Boyd Gaming, Churchill Downs, CityCenter, Eldorado Resorts, Georgia, Harrah's, Louisiana, Macau, MGM Mirage, Pinnacle Entertainment, Sam Nazarian, SLS Las Vegas, The Strip, Tilman Fertitta, Wall Street | 2 Comments

SLS: Closed by 2016?

Posted on August 19, 2015 by David McKee

That’s the stark implication of some remarks by owner Stockbridge Capital Partners about SLS Las Vegas, which continues to generate negative return on investment. Howard Stutz took a deep dive into the numbers and he must have required a bathysphere to … Continue reading →

Posted in Cannery Casino Resorts, Dining, Entertainment, Genting, Harrah's, IGT, Isle of Capri, James Packer, Marketing, Mississippi, Mohegan Sun, Neil Bluhm, New York, Penn National, Pennsylvania, Revel, Sam Nazarian, Sheldon Adelson, SLS Las Vegas, Taxes, The Strip, Wall Street | 1 Comment

SLS: The news just gets worse

Posted on July 17, 2015 by David McKee

Despite SLS Las Vegas having lost $183 million in its first eight months of operation, against pitiful revenues of $88 million, President Scott Kreeger insists that owner Stockbridge Capital is in it for the long haul. It has to be, Sam … Continue reading →

Posted in Alabama, Entertainment, International, Internet gambling, Marketing, Politics, Racinos, Revel, Sam Nazarian, SLS Las Vegas, Station Casinos, Taxes, Wall Street | 3 Comments

What do you do …

Posted on July 13, 2015 by David McKee

… if you’re Curtis “50 Cent” Jackson? Naturally, you throw yourself a birthday party atop The Cromwell, with seemingly half the NBA in attendance. Then you file bankruptcy on Monday, before you’ve even had a chance to sober up. (Geez, better book … Continue reading →

Posted in Entertainment, Harrah's, Marketing, Sam Nazarian, SLS Las Vegas, Steve Wynn, The Strip | Comments Off

SLS: House of Pain

Posted on July 8, 2015 by David McKee

Former Revel President Scott Kreeger, now running SLS Las Vegas, must feel like he’s gone from the frying pan into the fire. An unusually trenchant Howard Stutz column lays out the problems facing the new casino, a hipster joint sitting … Continue reading →

Posted in California, Carl Icahn, Dining, Eldorado Resorts, Florida, Fontainebleau, Genting, Marketing, MGM Mirage, New York, Reno, Riviera, Sam Nazarian, SLS Las Vegas, Wall Street | 1 Comment

Big legal bill for Steve Wynn; SLS Las Vegas craters

Posted on June 24, 2015 by David McKee

In case Steve Wynn is having second thoughts that maybe it was a bad idea to try and muzzle stock-picker James Chanos, a federal court made it official. On top of two defeats in the courtroom, Wynn has been handed a … Continue reading →

Posted in Colony Capital, Cosmopolitan, Entertainment, Genting, James Packer, Macau, Marketing, Massachusetts, MGM Mirage, Sahara, Sam Nazarian, Sheldon Adelson, SLS Las Vegas, Steve Wynn, The Mob, The Strip, Tribal, Wall Street | Comments Off

Penn primed for Plainridge launch; Little tribal traction in Maine

Posted on June 23, 2015 by David McKee

Are executives at Penn National Gaming getting high on their own supply … of slot machines, that is? The industry’s desired average for slots is $200 but Penn is predicting a sky-high $500/slot/day at Plainridge Park, which opens tomorrow, inaugurating … Continue reading →

Posted in Entertainment, Maine, Massachusetts, Penn National, Politics, Problem gambling, SLS Las Vegas, The Strip, Tribal | Comments Off

Long road back for Macao; Phua case becomes a federal obsession

Posted on May 13, 2015 by David McKee

Macao‘s status as shorthand for “corruption” got another bump this week when it was announced that former bureaucrat Li Huabo had gambled away $4 million in the casino enclave, then absconded with $16 million in stolen. As deleterious as that … Continue reading →

Posted in Australia, Downtown, Economy, Harrah's, Macau, Philippines, Sheldon Adelson, SLS Las Vegas, Sports, The Strip, Tourism, Vietnam, Wall Street | Comments Off

Crystals for sale again; Hit-and-run Sheldon

Posted on May 5, 2015 by David McKee

MGM Resorts International isn’t hurting for cash, having just posted a $170 million profit for 1Q15, far outstripping analysts’ projections (and despite an 11% falloff due to Macao). However, its Crystals shopping mall is back on the market, carrying a $1 … Continue reading →

Posted in Economy, history, Macau, MGM Mirage, Riviera, Sheldon Adelson, SLS Las Vegas, Sports, The Strip, Westgate LV | Comments Off