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Category Archives: Steve Wynn
Banner week for Wynn, Station; Life after Macao for MGM
Station Casinos closed out the year on a strong note, posting its 11th straight quarter of net revenue growth and 19th of improved cash flow. It marked blue-ribbon finish to a year that saw the highest revenues for the company … Continue reading
Posted in CityCenter, Detroit, Harrah's, Macau, MGM Mirage, Mississippi, Station Casinos, Steve Wynn, The Strip, Tourism, Transportation, Wall Street
3 Comments
Winning quarter for Wynn
In the current era of managed expectations of all things related to Macao, the 4Q15 report from Wynn Resorts fell into the “better than anticipated” category, with earnings down ‘only’ 17% (superior to Wall Street consensus) and profits just over … Continue reading
Posted in Economy, Florida, Georgia, Law enforcement, Macau, Melco Crown Entertainment, Nevada, Penn National, Pennsylvania, Regulation, Reno, Seminole Tribe, Sheldon Adelson, Steve Wynn, Texas, The Strip, Wall Street
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Penn: Glass nearly full
Prior to its conference call with analysts, Penn National Gaming shared some earnings guidance and hints of what is to come. Perceptions of the performance of Plainridge Park Casino have become something of a sore point with Penn execs. While … Continue reading
Posted in Arizona, Dining, Marketing, Massachusetts, Ohio, Penn National, Racinos, Steve Wynn, The Strip, Wall Street
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Wynn, Walsh make peace; Borgata ups the ante
In the end, it was all about the money. In return for an extra $400,000 per year for the next 15 years, plus reimbursement of $750,000 in legal fees, Boston Mayor Martin Walsh dropped his efforts to block Wynn Everett. “We fought … Continue reading
Posted in Architecture, Atlantic City, Boyd Gaming, Lucky Dragon, Massachusetts, MGM Mirage, Station Casinos, Steve Wynn, Taxes, The Strip, Wall Street
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Big contract from Wynn; Parking debate continues
Wynn Resorts bought locally in its search for a Wynn Everett general contractor. It has let the $1 billion construction contract to Suffolk Construction, biggest in Massachusetts. By choosing a Boston company for this seven-figure deal (plus 4,000 jobs), perhaps … Continue reading
Wynn Resorts opens its wallet; Further woes for Macao
The most “george” figure in the casino industry last year would have to be Steve Wynn. Rank-and-file employees at Wynn Macau received a month’s salary as an end-of-year bonus. Senior management is ineligible for bonuses. Now, this is part of … Continue reading
Posted in Economy, International, Law enforcement, Macau, Marketing, Regulation, Stanley Ho, Steve Wynn, Tribal, Wall Street
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Atlantic City: Sweeney wins … or does he?
In the end, New Jersey‘s two houses of the Legislature came together on casino expansion and we have to say that Assembly Speaker Vincent Prieto (D) blinked first, from where we sit. (In the peanut gallery, natch.) But was state … Continue reading
Christie takes sides in casino fight; Healthy month in Missouri
“I can’t say it won’t ever happen, but by 2018, New York will have approved a casino in Staten Island. It needs to be now because we have the opportunity now.” Thus spake New Jersey State Senate President Stephen Sweeney (D), … Continue reading
Posted in Ameristar, Atlantic City, Georgia, Harrah's, Illinois, Isle of Capri, Massachusetts, New York, Penn National, Pinnacle Entertainment, Politics, Regulation, Steve Wynn, Tribal, Tropicana Entertainment, Unite-Here
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Tribal headache for Connecticut; Wynn, Adelson eye New Jersey
Proposed new rules that would make it easier for tribes to gain federal recognition could have a seismic effect on the casino business in Connecticut. Three potentially recognized tribes could vie for as many as four new casinos. One says “four” … Continue reading
Posted in Atlantic City, Donald Trump, Economy, Foxwoods, Mohegan Sun, Pennsylvania, Politics, Sheldon Adelson, Steve Wynn, The Strip, Tribal
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Arc de scandale; New Illinois casino nominee
Macao is still reeling from an embezzlement scandal involving a Wynn Macau junket operator and now $13 million has gone missing from L’Arc, a sublicensee of Sociedade de Jogos de Macau and owned by SJM’s Angela Leong. This immediately raised … Continue reading
Posted in Foxwoods, Galaxy Entertainment, Illinois, Macau, Massachusetts, MGM Mirage, Mohegan Sun, Penn National, Regulation, Sheldon Adelson, Stanley Ho, Steve Wynn, Wall Street
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Penn owns Ohio; Adelson expands R-J
Gaining 19% last month, Hard Rock Rocksino reclaimed its top spot in Ohio, grossing almost $19 million and edging aside Horseshoe Casino Cleveland by one decimal point. The latter saw an 11% slippage revenues, while ThistleDown Racino continues to look like … Continue reading
Posted in Cosmopolitan, Dan Gilbert, Eldorado Resorts, Hard Rock International, Harrah's, MGM Mirage, Ohio, Penn National, Pinnacle Entertainment, Racinos, Regulation, Sheldon Adelson, Steve Wynn
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Suffolk Downs fights back; Scrum in New Jersey Lege
Boston Mayor Martin Walsh may well have thrown in the towel in his lawsuit against Wynn Everett (technically against the Massachusetts Gaming Commission) but a quartet of Suffolk Downs workers aren’t letting Judge Janet Sanders‘ dismissal of aforesaid lawsuit go … Continue reading
Posted in Atlantic City, Colony Capital, Entertainment, Glenn Straub, Macau, Massachusetts, MGM Mirage, Politics, Racinos, Regulation, Revel, Stanley Ho, Steve Wynn, The Strip
1 Comment
Another day in Adelsonia
After a weeks of ham-handed “managing” of the Las Vegas Review-Journal, controversial executive Michael Schroeder got the heave-ho, the apparent price of having brought unwanted attention to Sheldon Adelson‘s ownership. He was also an ethical cancer on the R-J, having … Continue reading
Posted in Donald Trump, Harrah's, Macau, Politics, Regulation, Sheldon Adelson, Steve Wynn, The Mob, The Strip
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Macao ends 2015 quietly; Record visitation not good enough for Vegas
That “squish” you heard from across the sea was Macao‘s gaming market reporting a decrease of 21% last month, practically good news when measured against November’s 32% plunge. Mind you, Macanese casinos were averaging $74 million in win per day, … Continue reading
Posted in Economy, Eldorado Resorts, Environment, Horseracing, LVCVA, Macau, Melco Crown Entertainment, MGM Mirage, Sheldon Adelson, Steve Wynn, The Strip, Tourism, Wall Street, West Virginia
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All Adelson, all the time; Full House on the move
(Update: The Adelson-influenced meddling has already begun.) Now that Sheldon Adelson owns the Las Vegas Review-Journal, the paper’s prime topic of coverage has become … itself. There’s no shortage of entrail-reading, as pundits try to parse the casino mogul’s intentions. … Continue reading
Posted in Colorado, Dan Lee, Harrah's, Harry Reid, Internet gambling, Lake Tahoe, Macau, MGM Mirage, Politics, Sheldon Adelson, Steve Wynn
1 Comment
Quote of the Day
“I was probably a little tougher on them than I should have been on the conference call. But look, I have made promises to the people over there, and it’s only fair that they help me keep those promises. But … Continue reading
Posted in Macau, Regulation, Steve Wynn
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Boston: Has Wynn finally won?; Massachusetts mulls i-poker
Boston Mayor Martin Walsh seems to have finally put his grandstanding aside and is making conciliatory noises about Wynn Resorts. Has the smackdown of his lawsuit against the Massachusetts Gaming Commission finally brought Walsh to his senses? Or is this … Continue reading
Posted in Dan Gilbert, Detroit, Donald Trump, Internet gambling, Massachusetts, MGM Mirage, Pennsylvania, Politics, Regulation, Steve Wynn, Transportation, Westgate LV
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Big card room bust in California
Earlier this week, American Gaming Association President Geoff Freeman unveiled a stern new set of anti-money laundering guidelines, lest any casinos out there hadn’t gotten the memo that Uncle Sam means business when it comes to enforcing AML rules. As … Continue reading
Posted in California, Geoff Freeman, International, Internet gambling, Law enforcement, MGM Mirage, Penn National, Regulation, Steve Wynn, Tribal
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Wynn’s big buy; DFS in retreat
Steve Wynn is $63,800,000 lighter in the wallet this morning, after purchasing one million shares of Wynn Resorts on the open market over the last three days. This brings his total stake in the company to slightly more than 11 … Continue reading
Posted in Internet gambling, Law enforcement, Macau, Pennsylvania, Politics, Racinos, Regulation, Steve Wynn, Warner Gaming
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Crisis point in Atlantic City; Alabama casino bill abandoned
Atlantic City‘s immediate future is teetering over whether it can persuade Boyd Gaming and MGM Resorts International to parcel a $161 million tax refund over an extended period of time. If not, warns Mayor Don Guardian (R), the city will … Continue reading
Posted in Alabama, Atlantic City, Boyd Gaming, Dining, Harrah's, Internet gambling, MGM Mirage, Politics, Regulation, Steve Wynn, The Strip
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