Category Archives: Steve Wynn

Straub’s plans evolve; Martin Walsh, loser

Posted on December 4, 2015 by David McKee

Remember, you read it here first. Glenn Straub intends to sublicense the casino portion of Revel to an outside operator. It will have to be a company with a high tolerance for risk, as Straub is insisting on a 30-year … Continue reading →

Posted in Atlantic City, Economy, Glenn Straub, Macau, Marketing, Massachusetts, Melco Crown Entertainment, Politics, Regulation, Revel, Steve Wynn | Comments Off on Straub’s plans evolve; Martin Walsh, loser

‘Net betting in Massachusetts?; Fast track for skill-based slots

Posted on December 3, 2015 by David McKee

Pressure to legalize Internet gambling has emerged from an unexpected quarter — Massachusetts. State Sen. Bruce Tarr (R) has proposed a bill that would allow Web casinos to piggyback onto existing brick-and-mortar ones. True, Wynn Resorts is averse to ‘Net … Continue reading →

Posted in Atlantic City, Internet gambling, Macau, Massachusetts, MGM Mirage, Penn National, Politics, Scientific Games, Steve Wynn, Technology, Tribal, Wall Street | Comments Off on ‘Net betting in Massachusetts?; Fast track for skill-based slots

Penn charms Wall Street

Posted on December 3, 2015 by David McKee

JP Morgan analyst Joseph Greff recently sat down with Penn National Gaming COO Jay Snowden and, of course, the big topic of conversation was Plainridge Park. Penn doesn’t see Wynn Everett — when it opens in 2018 — as a … Continue reading →

Posted in California, Economy, Illinois, M Resort, Marketing, Maryland, Massachusetts, MGM Mirage, Missouri, Penn National, Pennsylvania, Racinos, Rhode Island, Slot routes, Sports, Steve Wynn, Taxes, The Strip, Tribal, West Virginia | 1 Comment

No Great Pumpkin for Las Vegas; Further woe for Macao

Posted on December 1, 2015 by David McKee

It was Las Vegas Strip casinos’ bad luck to have Oct. 31 fall on a Saturday, meaning that revenues (particularly from slots) from that weekend won’t be reported until the end of November. Consequently, Strip revenues fell 5% in October, … Continue reading →

Posted in Boulder Strip, Dan Gilbert, Detroit, Dining, Downtown, Economy, Galaxy Entertainment, Lake Tahoe, Laughlin, Law enforcement, Macau, Maryland, Melco Crown Entertainment, MGM Mirage, North Las Vegas, Reno, Sheldon Adelson, Stanley Ho, Steve Wynn, Wall Street | 1 Comment

The dark side of DFS; Wynn delay provokes caution

Posted on November 23, 2015 by David McKee

Daily fantasy sports backlash has claimed its first casualty. Relatively minor site TradeSports.com has gone out of business. “Recent negative events in the industry have already increased our costs of operating (and will most likely continue to do so); or perhaps … Continue reading →

Posted in Economy, Internet gambling, Macau, Massachusetts, Problem gambling, Regulation, Steve Wynn, Wall Street | Comments Off on The dark side of DFS; Wynn delay provokes caution

Rick Scott screws the Seminoles; Internet gaming advances in Pennsylvania

Posted on November 20, 2015 by David McKee

By the this point in time it’s pretty clear that Florida Gov. Rick Scott (R) has been negotiating in bad faith with the Seminole Tribe. He’s had five years to come up with a new compact regarding the tribe’s blackjack … Continue reading →

Posted in Florida, Internet gambling, Macau, Pennsylvania, Regulation, Seminole Tribe, Steve Wynn | Comments Off on Rick Scott screws the Seminoles; Internet gaming advances in Pennsylvania

Boyd ‘upbeat’ on Wall Street; Wynn Palace on hold

Posted on November 18, 2015 by David McKee

Boyd Gaming CEO Keith Smith and CFO Josh Hirsberg lunched with Deutsche Bank‘s Carlo Santarelli, who found their mood bright and shiny. “Management remains confident that if current [Las Vegas] locals and regional gaming revenue trends hold firm, it can continue to … Continue reading →

Posted in Boyd Gaming, Economy, Macau, Melco Crown Entertainment, Steve Wynn, Uncategorized, Wall Street | Comments Off on Boyd ‘upbeat’ on Wall Street; Wynn Palace on hold

Quote of the Day

Posted on November 9, 2015 by David McKee

“I don’t think either one of them has been at their best on this one. But, you know, they’re big boys. They can do their own business.” — Massachusetts Gaming Commission Chairman Stephen Crosby on the feud between Steve Wynn … Continue reading →

Posted in Massachusetts, Steve Wynn | Comments Off on Quote of the Day

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

Caesars loses Ohio; Parking fees on the Strip?

Posted on November 2, 2015 by David McKee

In a lose-lose scenario, Caesars Entertainment is losing its management contracts at Horseshoe Cincinnati, Horseshoe Cleveland and Thistledown Racino. Even with the valuable Horseshoe brand, all three had been losing business in recent months. Caesars had long ago sold its … Continue reading →

Posted in CityCenter, Current, Dan Gilbert, Harrah's, James Packer, Lawrence Ho, Macau, Marketing, Maryland, MGM Mirage, Ohio, Regulation, Sheldon Adelson, Station Casinos, Steve Wynn, Technology, The Strip, Transportation | 1 Comment

Caesars: (Almost) everything must go; More angst in Macao

Posted on October 27, 2015 by David McKee

Well, it had to happen eventually. In order to escape bankruptcy, Caesars Entertainment is putting Caesars Entertainment Operating Co. on the market. There are some who are calling this a bluff and others who can’t afford to get in on … Continue reading →

Posted in Atlantic City, Boyd Gaming, California, Economy, GLPI, Harrah's, Illinois, Indiana, International, Iowa, Lake Tahoe, Lawrence Ho, Louisiana, Marketing, Melco Crown Entertainment, MGM Mirage, Mississippi, Missouri, Ohio, Penn National, Philippines, Regulation, Reno, Sheldon Adelson, Stanley Ho, Steve Wynn, The Strip, Tribal, Wall Street | 1 Comment

Japan: Keep moving, nothing to see here; Crisis at Studio City

Posted on October 26, 2015 by David McKee

Despite much chumming of the waters by Union Gaming Securities Asia‘s Grant Govertson, it’s the same old same-old in Japan, where casino legalization has been delayed yet again and probably should be under a news blackout until substantial progress is achieved. … Continue reading →

Posted in Architecture, Election, Entertainment, Harrah's, International, Internet gambling, James Packer, Japan, Lawrence Ho, Macau, Melco Crown Entertainment, Mississippi, Pets, Politics, Regulation, Sheldon Adelson, Steve Wynn, Tourism, Wall Street | Comments Off on Japan: Keep moving, nothing to see here; Crisis at Studio City

Quote of the Day

Posted on October 23, 2015 by David McKee

“We have a belief our gaming license is a privilege and not a right. We have always been respectful of the Macao government’s desires. We were the pioneer of the integrated-resort business model. That’s what the government wants. We will continue … Continue reading →

Posted in Macau, Regulation, Sheldon Adelson, Steve Wynn | 1 Comment

Caesars: New wine in old bottle; The house that poker built

Posted on October 23, 2015 by David McKee

Starting Jan. 1 (What? No New Year’s Eve bookings?), guests at Caesars Palace will have the chance to stay in the new Julius Tower. Except that it’s not really new: It’s the old Roman Tower, given a dramatic, $75 million … Continue reading →

Posted in Architecture, California, Economy, Genting, Harrah's, Macau, Regulation, Sheldon Adelson, Singapore, Steve Wynn, The Strip | Comments Off on Caesars: New wine in old bottle; The house that poker built

All’s well at Penn; Mulroy’s misdeed; Discomfort at Studio City

Posted on October 22, 2015 by David McKee

Penn National Gaming pleasantly surprised Wall Street, reporting third-quarter revenue of $739 million and $210 million in cash flow, exceeding projections by $8 million and $11 million, respectively. It paid out $109 million in rent to Gaming & Leisure Properties … Continue reading →

Posted in California, Economy, Galaxy Entertainment, GLPI, Illinois, Lawrence Ho, Macau, Marketing, Massachusetts, Melco Crown Entertainment, MGM Mirage, Missouri, Ohio, Penn National, Regulation, Sports, Steve Wynn, The Strip, Tribal, Wall Street | Comments Off on All’s well at Penn; Mulroy’s misdeed; Discomfort at Studio City

Quote of the Day

Posted on October 20, 2015 by David McKee

“Probably the [New Jersey] in me, but this should not be allowed to happen. Makes regulators look like their [sic] tools of casinos.” — Global Gaming Business Editor Roger Gros on Pat Mulroy‘s sudden move from the Nevada Gaming Commission to … Continue reading →

Posted in Regulation, Steve Wynn | 1 Comment

Macao rebukes Wynn

Posted on October 20, 2015 by David McKee

Steve Wynn‘s criticism of Macao governmental policy toward casinos as “outrageous and ridiculous … the single most counterintuitive and irrational decision that was ever made” went over like a lead balloon in China. Casino executives, including Wynn Macau President Gamal Aziz, … Continue reading →

Posted in Internet gambling, Macau, Massachusetts, Regulation, Sports, Steve Wynn, TV | Comments Off on Macao rebukes Wynn

Steve Wynn’s an unhappy camper

Posted on October 16, 2015 by David McKee

A decade ago, Steve Wynn would badmouth doing business in Nevada and warble sweet hymns to that capitalist’s paradise, China. How times change. On yesterday’s quarterly earnings call, Wynn was apoplectic about the Chinese government’s shifting policies in re Macao. “In … Continue reading →

Posted in Economy, Galaxy Entertainment, International, Lawrence Ho, Macau, Marketing, Melco Crown Entertainment, MGM Mirage, Regulation, Steve Wynn, The Strip, Wall Street | 4 Comments

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 on Station goes public; Florida compact near?

McCheese baffles Wynn; Straub thwarted again

Posted on October 12, 2015 by David McKee

Boston Mayor Martin “McCheese” Walsh has Wynn Everett President Robert DeSalvio “baffled” with his schizoid approach to the hotel-casino. After having an apparently conciliatory meeting with Walsh, DeSalvio was bushwhacked by a McCheese-launched lawsuit to halt construction on Wynn Everett. “We … Continue reading →

Posted in Arizona, Atlantic City, Glenn Straub, Harrah's, Horseracing, Massachusetts, Mohegan Sun, New York, Racinos, Revel, Steve Wynn, Tribal, Wall Street | Comments Off on McCheese baffles Wynn; Straub thwarted again