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- David McKee on Sibella scandal spreads; Supremes forestall Seminoles
- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
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Category Archives: Station Casinos
Penn has big plans for Trop; It’s not easy being Steve Wynn
Penn National Gaming has been talking up its growth strategy to Wall Street and the Tropicana Las Vegas is central to the plan. At present, the Tropicana is pulling in just $40 million a year in casino revenues, less than … Continue reading
Posted in California, Environment, Maine, Massachusetts, Penn National, Regulation, Station Casinos, Steve Wynn, The Mob, The Strip, Tribal, Wall Street
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Wynn: Massachusetts vs. Boston; Crisis and opportunity at Station
Steve Wynn appears to be losing patience with the obstacles being thrown in his way by seemingly vanquished adversaries in his long fight to get a Boston-area casino. He’s filed a defamation suit against the city, after a lawsuit championed … Continue reading
Posted in Culinary Union, Eldorado Resorts, Election, Georgia, history, International, Massachusetts, MGM Mirage, New York, Politics, Regulation, Sam Nazarian, Slot routes, Station Casinos, Steve Wynn
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2016: Know thy enemy
A Las Vegas Sun roundup of the presidential field gives some helpful guidance. For instance, we’ve long known that Jeb Bush (R) was anti-casino, despite gambling expansion on his watch in Florida. Martin O’Malley (D) was in similar circumstances in … Continue reading
Posted in Donald Trump, Election, Florida, Maryland, Regulation, Sheldon Adelson, Station Casinos, Tribal, Vermont, Wisconsin
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MGM goes to Atlanta; Pechanga named #1
Instead of waiting for an incremental creep of acceptance of gambling in Georgia, MGM Resorts International is taking the bull by the horns. While it says that it is in the “very preliminary” stages of proposing a casino for Atlanta, … Continue reading
Posted in Architecture, Atlantic City, Boyd Gaming, California, Economy, Foxwoods, Georgia, Hard Rock Hotel, Harrah's, Indiana, Internet gambling, Louisiana, MGM Mirage, Mississippi, Mohegan Sun, Neil Bluhm, New York, Pinnacle Entertainment, Politics, Sheldon Adelson, Station Casinos, Technology, The Strip, Tourism, Tribal
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Good April for Vegas; Frankie the Fish and Sister Sandra
Baccarat play on the Las Vegas Strip improved by double-digit numbers for the second month in a row, up 14% in April, contributing to an 8% upward surge on the Strip. Baccarat revenues rose 5%, while all other table games … Continue reading
Posted in Australia, Boyd Gaming, Donald Trump, Downtown, Economy, Lake Tahoe, Laughlin, Macau, Marketing, Mississippi, North Las Vegas, Philippines, Politics, Regulation, Reno, Sheldon Adelson, Station Casinos, The Strip, Vietnam
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Penn “upbeat” about future; Connecticut tribes closer to new casino
Penn National Gaming CEO Tim Wilmott recently broke bread with J.P. Morgan analyst Joseph Greff, who found Penn management “positive and primarily focused on PENN’s robust development pipeline,” which it thinks will produce improved cash flow even before the Tropicana … Continue reading
Posted in Alex Yemenidjian, California, Florida, Foxwoods, Hard Rock International, Harrah's, Massachusetts, Mohegan Sun, Penn National, Racinos, Rhode Island, Station Casinos, The Strip, Tribal, Wall Street
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New life for the Trop?; Paragon’s latest trophy
David G. Schwartz muses on the brave, new world at the Tropicana Las Vegas — soon with 100% more Penn National Gaming. He assesses it as a win for both parties. Penn gets a foothold at a strategic crossroads on … Continue reading
Posted in Alex Yemenidjian, Baseball, Colony Capital, Columbia Sussex, Donald Trump, Entertainment, Hard Rock Hotel, history, M Resort, MGM Mirage, Penn National, Riviera, Sahara, Sheldon Adelson, Singapore, Station Casinos, The Strip, Transportation, Westgate LV
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Adieu, Monte Carlo; Sunny April in Detroit
Judging from how it bastardized the Strip facade of Monte Carlo, it’s clear MGM Resorts International doesn’t quite know what to do with the place. CEO Jim Murren tacitly confirmed this recently when he said MGM was studying myriad options … Continue reading
Posted in Architecture, CityCenter, Detroit, Harrah's, MGM Mirage, Station Casinos, The Strip, Tourism, Wall Street
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Quote of the Day
“There is a reason bondholders restricted the funds that could be paid out to owners. Bondholders lost almost everything in Station Casinos’ Chapter 11 bankruptcy reorganization, which followed a leveraged buyout that paid insiders $660 million with borrowed money … Even … Continue reading
Posted in Station Casinos, Wall Street
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Whither McCartney?; Distress at Caesars
Earlier this week, Vegas Tripping reported the departure of Thomas McCartney from The Cosmopolitan of Las Vegas. In its press release, the Cosmo went beyond the neutral sort of verbiage reserved for such pronouncements, saying that “Mr. McCartney did not … Continue reading
Paradox at Revel; Further delay in Massachusetts
Florida developer Glenn Straub remains thwarted in his attempts to purchase Revel. His primary obstacle is Judge Gloria Burns, who seems bent upon charting a course for Chapter 7 liquidation. Although, out of 20 bids, Straub’s is the only one … Continue reading
Posted in Foxwoods, Glenn Straub, Hard Rock International, Harrah's, Macau, Massachusetts, Ohio, Regulation, Revel, Station Casinos, Westgate LV
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Caesars wins some, loses some; Dotty’s drives Station batty
“I don’t have any authority to disband a committee that the U.S. trustee has appointed,” said Judge A. Benjamin Goldgar, handing a victory to the second-tier debtors in the Caesars Entertainment bankruptcy. Caesars had sought to have the creditors’ watchdog committee … Continue reading
Posted in Dotty's, Harrah's, Politics, Regulation, Station Casinos, Wall Street
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Could Station go public?; Straub buys Revel again
Station Casinos is doing as well as it ever has since the Great Recession, fueling speculation that an IPO might be on the way. Granted, this is mostly speculation by investors and the media but Deutsche Bank‘s 25% stake in … Continue reading
Posted in Atlantic City, Glenn Straub, Michael Gaughan, Revel, Station Casinos, Wall Street
4 Comments
Station is back; MGM’s praises sung
When the Great Recession struck, no company was more ill-positioned to weather it than Station Casinos. A few tribal contracts aside, all of Station’s eggs were in the Las Vegas basket. To put it another way, Vegas may have gotten … Continue reading
Posted in California, Detroit, Economy, Hard Rock International, Macau, MGM Mirage, Mississippi, Riviera, Station Casinos, The Strip, Tribal, Wall Street, Wisconsin
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The war over Caesars
That Caesars Entertainment plan to subdivide itself into a REIT may be a one-week wonder: Creditors are reported to be balking at the structure. “The creditors want to make sure the REIT is structured in a way that protects them … Continue reading
The war on Dotty’s; Ultimatum in Macao
In the wake of the Dotty’s brouhaha, I find myself wondering how this got to be such a big issue. After all, Nevada Restaurant Services had been buying up defunct bars and store fronts by the score and converting them … Continue reading
Posted in California, Dotty's, Economy, Internet gambling, Macau, PokerStars, Regulation, Station Casinos, Tribal
1 Comment
Trump Taj Mahal buys time
In the latest of many deadlines, Trump Taj Mahal has pushed its closing date back by another week, from Dec. 12 to Dec. 20. (Given that it has closed one of its hotel towers, we should not be surprised that … Continue reading
Posted in Atlantic City, Harrah's, Internet gambling, Sports, Station Casinos, Taxes, The Strip, Trump Entertainment Resorts
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Dotty’s loses, Genting hesitates, Penn adapts
Look at that picture. Seriously, keep looking. Does that seem like a tavern to you? A casino? Some curious hybrid? For years the Clark County Commission has been grappling with the vexing questions posed by the rapidly growing Dotty’s chain of … Continue reading
Posted in Architecture, Cordish Co., Dotty's, Downtown, Genting, Golden Gaming, Harrah's, Maryland, New York, Pennsylvania, Regulation, Station Casinos, The Strip
2 Comments
Chronicle of a bankruptcy, foretold
Dipping into Shakespeare, Howard Stutz endeavors to do justice to the Elizabethan complexity of the Caesars Entertainment bankruptcy. The fault is not in the stars but in Gary Loveman, architect of the disaster. When it was rolled out, back in … Continue reading
Walk softly, carry a Talking Stick
There’s a new symbolic benchmark for the economic importance of tribal gaming in the U.S. What was the US Airways Center, in Phoenix, home of the Phoenix Suns, is becoming Talking Stick Resort Arena. It’s a testimony to the financial … Continue reading
Posted in Arizona, Dotty's, Entertainment, Golden Gaming, Politics, Regulation, Station Casinos, Tribal
1 Comment