Category Archives: Station Casinos

This is your industry on crack

Posted on March 3, 2009 by David McKee

Finally, someone (in this case, Liz Benston) has written the definitive user-friendly analysis of how the casino industry crashed and burned. To try and quote the salient points would require little short of reprinting the entire article (to say nothing … Continue reading →

Posted in Boyd Gaming, Colony Capital, Downtown, Economy, Harrah's, Herbst Gaming, Isle of Capri, Louisiana, MGM Mirage, Missouri, Station Casinos, The Strip, Wall Street | Comments Off

Harrah's enjoys bailout

Posted on March 3, 2009 by David McKee

“Critics argue that the tax-law change rewards companies that took on too much leverage during the credit bubble, such as those that were bought by private-equity firms.” Sound like anybody we know? How about Harrah’s Entertainment, which played Russian roulette … Continue reading →

Posted in Colony Capital, Economy, Harrah's, James Packer, Macau, Melco Crown Entertainment, MGM Mirage, Politics, Sheldon Adelson, Station Casinos, Taxes, Wall Street | Comments Off

M in pictures

Posted on March 2, 2009 by David McKee

Well … sorta. You'd think a billion dollars might buy a decent press kit but M Resort's didn't arrive at LVA HQ until the day after the opening. To add to the farce, most of the pictures aren't bonafide photos … Continue reading →

Posted in Architecture, Encore, M Resort, Station Casinos | Comments Off

MGM Mirage: Uh-oh; "Off the box"

Posted on February 27, 2009 by David McKee

Following in the footsteps of Station Casinos and Harrah's Entertainment, now MGM Mirage is drawing its revolver, so to speak, to fund operating expenses. This is never a good sign. Earlier this week we learnt that all of Kirk Kerkorian's … Continue reading →

Posted in Cirque du Soleil, Donald Trump, Economy, Fontainebleau, Harrah's, MGM Mirage, Station Casinos, Wall Street | Comments Off

Boyd vs. Station II

Posted on February 26, 2009 by David McKee

Well, that was a waste of a good hour. Boyd Gaming teased its Thursday morning conference call with intimations that All (or at least Some) Would Be Revealed about its surprise bid for most of the assets of Station Casinos. … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, Downtown, Economy, Florida, Harrah's, Indiana, Louisiana, Station Casinos, The Strip, Tribal, Wall Street | Comments Off

Station vs. Boyd

Posted on February 24, 2009 by David McKee

Seeing as I'm still trying to make sense of Boyd Gaming's offer to buy much (but not all) of Station Casinos — and some Station assets may not be worth obtaining — I'll just pass along Station's response to the … Continue reading →

Posted in Boulder Strip, Station Casinos | Comments Off

Gibbons retreats, sorta

Posted on February 23, 2009 by David McKee

Gov. Jim Gibbons has scuttled away from one of his several proposals to jack up taxes on the only segment of Nevada that's carrying its own weight — the casino bidness. He's retreating from a demand that casinos pay taxes … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, Colony Capital, Columbia Sussex, Donald Trump, Downtown, Economy, M Resort, Marketing, Mesquite, Movies, Politics, Station Casinos, Taxes, TV, Wall Street | Comments Off

Sludge Report

Posted on February 18, 2009 by David McKee

Kudos to the Las Vegas Review-Journal‘s Howard Stutz for keeping an eye on an especially skanky provision of the economic-stimulus package, a sweetheart provision engineered by Sen. Harry Reid (D-NV). It awards companies — like vocal supporter MGM Mirage — … Continue reading →

Posted in California, Economy, Harrah's, MGM Mirage, Politics, Sheldon Adelson, Station Casinos | Comments Off

Looking for good news in Vegas

Posted on February 12, 2009 by David McKee

If I wanted to drive myself to strong drink, I could write about depressing, atrocious numbers coming out of Nevada casinos in December. But as that great philosopher, Linus in Peanuts, would remind me, it's better to light a single … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, Downtown, Economy, Gary Goett, George Maloof, Harrah's, Laughlin, MGM Mirage, Michael Gaughan, Morgans Hotel Group, Station Casinos, Tamares Group, Texas, The Strip, Tilman Fertitta, Tribal, Wall Street | Comments Off

False economies

Posted on February 9, 2009 by David McKee

In today's edition of "You Know What Really Grinds My Gears?" … As counterintuitive as it seems, one of the first things to take it in the neck during the present recession is customer service; cleanliness is the other. (Jean … Continue reading →

Posted in Boulder Strip, Election, Station Casinos | Comments Off

Black Tuesday: Station Casinos

Posted on February 4, 2009 by David McKee

Yesterday’s Chapter 11 proposal by Station Casinos was paradoxically both inevitable and premature. From the day Station drew on its revolving line of credit to fund operational expenses, the handwriting was on the wall. However, Station chose to precipitate a … Continue reading →

Posted in Colony Capital, Economy, Reno, Station Casinos, Tilman Fertitta, Wall Street | Comments Off

Bargain$ tonight in Vega$

Posted on January 27, 2009 by David McKee

Suppose that you got a sudden urge to visit Vegas on a Tuesday night … tonight, to be specific. You’d find that the customer is king, at least as far as pricing goes. A few minutes spent browsing Travel.Ian.com yielded … Continue reading →

Posted in Boulder Strip, Boyd Gaming, Columbia Sussex, Current, Don Barden, Donald Trump, Downtown, Economy, Harrah's, Marketing, MGM Mirage, Sheldon Adelson, Station Casinos, Steve Wynn, The Strip | Comments Off

The prodigal son

Posted on January 19, 2009 by David McKee

Poor Kerry Packer; the late Australian mogul and famous high roller must be doing all his rolling in the grave now. Reputed for being daring at baccarat and cautious in business, the media baron is at least spared the indignity … Continue reading →

Posted in Aristocrat, Boulder Strip, Cannery Casino Resorts, Cosmopolitan, Economy, Fontainebleau, International, James Packer, Macau, Melco Crown Entertainment, Pennsylvania, Singapore, Station Casinos, Steve Wynn, The Strip | Comments Off

Case Bets: CityCenter, Detroit, Boyd in Indiana

Posted on January 19, 2009 by David McKee

CityCenter: Cash cow or calf of gold? It’s received wisdom that, in its worship of the Golden Calf known as CityCenter, half-owner MGM Mirage is prepared to sacrifice some of its high-value properties, including MGM Grand Detroit, even in the … Continue reading →

Posted in Boyd Gaming, Economy, G2E, Indiana, Kansas, Macau, Marketing, MGM Mirage, Station Casinos, The Strip, Tribal, Wall Street | Comments Off

Lanni: The official story

Posted on January 12, 2009 by David McKee

My favorite exchange in one of my favorite current TV series, Mad Men, takes place when weasel-like junior exec Pete Campbell (Vincent Kartheiser) goes to rat out his boss, Donald Draper (Jon Hamm), to company owner Bertram Cooper (the cunningly … Continue reading →

Posted in Columbia Sussex, Current, Detroit, Harrah's, International, MGM Mirage, Phil Ruffin, Regulation, Station Casinos, The Strip, TV | Comments Off

Good thing they don't gamble … do they?

Posted on January 9, 2009 by David McKee

(Well, only with their shareholders' money, perhaps.) Huffington Post, with the considerable assistance of VegasTripping.com, has sifted through the contributions of casino industry moguls during the last election cycle and all I can say is I'm sure glad these folks' … Continue reading →

Posted in Boyd Gaming, Columbia Sussex, Election, Fontainebleau, George Maloof, Harrah's, Kentucky, MGM Mirage, Phil Ruffin, Politics, Sheldon Adelson, Station Casinos, Steve Wynn, Tilman Fertitta | Comments Off

Happy New Year

Posted on January 2, 2009 by David McKee

Will it be a happy new year for the Strip? In terms of "supply shock," the timing could be a lot better, let's put it that way. Back on Aug. 14, JP Morgan issued an analyst report which showed 11,412 … Continue reading →

Posted in Cosmopolitan, Current, Economy, MGM Mirage, Sheldon Adelson, Station Casinos, Steve Wynn, The Strip, Wall Street | Comments Off

21

Posted on December 31, 2008 by David McKee

That's the number of predictions for 2009 issued by Spectrum Gaming Group, an Atlantic City-based outfit. They are, in no particular order: • Advancements in technology that impact revenues and cut costs will continue to be attractive to operators even … Continue reading →

Posted in Boyd Gaming, Colony Capital, Columbia Sussex, Cosmopolitan, Current, Don Barden, Economy, Harrah's, Herbst Gaming, IGT, International, Internet gambling, Isle of Capri, Macau, Marketing, MGM Mirage, Morgans Hotel Group, Pinnacle Entertainment, Politics, Regulation, Sheldon Adelson, Station Casinos, Steve Wynn, Technology, Tribal, Wall Street | Comments Off

Case Bets: Stanley Ho in Vegas?, HRH grows but Morgans shrinks

Posted on December 11, 2008 by David McKee

A local columnist raises the spectre of Stanley Ho getting back-door access into Las Vegas via James Packer‘s acquisition of Cannery Resorts. This isn’t the first time I’ve heard this question raised and, call me complacent, but I believe it … Continue reading →

Posted in Boyd Gaming, Cannery Casino Resorts, Colony Capital, Columbia Sussex, Cosmopolitan, Economy, Harrah's, Herbst Gaming, Isle of Capri, James Packer, Macau, MGM Mirage, Morgans Hotel Group, Stanley Ho, Station Casinos, The Strip, Tropicana Entertainment, Wall Street | Comments Off

Quote of the Day

Posted on December 10, 2008 by David McKee

"They’re taking a real gamble. It’s like playing poker with the capital markets." — KDP Investment Advisors bond analyst Barbara Cappaert, regarding a rejected Station Casinos debt swap that would have covered the butts of Station insiders and Colony Capital … Continue reading →

Posted in Colony Capital, Economy, Station Casinos, Wall Street | Comments Off