Category Archives: Steve Wynn

Toxic overconfidence at Wynn; Persistence in Kentucky

Posted on January 8, 2014 by David McKee

Whoops. It seems like Wynn Resorts was a little coy (or careless) about how it intended to clean up a toxic-waste site  (home to “volatile organic compounds, petroleum hydrocarbons, PCBs, and evidence of sulfuric acids and other substances“) in Everett. Bostonians … Continue reading →

Posted in Boyd Gaming, Environment, Internet gambling, Kansas, Kentucky, Massachusetts, Politics, Sheldon Adelson, Steve Wynn, Taxes | 2 Comments

Wynn’s new man in Macao; Sheldon’s losing hand

Posted on January 7, 2014 by David McKee

Steve Wynn will continue to be CEO and Chairman of Wynn Macau. However, he’s handing off the presidency to Gamal Aziz. It’s another sign that Macao isn’t just a department of a company like Wynn Resorts but an entity unto … Continue reading →

Posted in Atlantic City, Foxwoods, Harrah's, Internet gambling, Macau, Massachusetts, Mohegan Sun, Sheldon Adelson, Steve Wynn, Wall Street | 1 Comment

Caesars turns up heat on Crosby

Posted on January 3, 2014 by David McKee

Perhaps realizing that the previous version of its lawsuit against Massachusetts Gaming Commission Chairman Stephen Crosby was a dog that wouldn’t hunt, Caesars Entertainment has reloaded with an amended complaint. Now it says that Crosby urged Steve Wynn, when the … Continue reading →

Posted in Colony Capital, Cordish Co., Economy, Florida, Harrah's, Massachusetts, Regulation, Steve Wynn | 1 Comment

Macao rules

Posted on January 2, 2014 by David McKee

Today’s big story is pretty obvious: The 19% year-over-year revenue growth of Macao, which posted $45 billion in gross gaming dollars. (2012’s increase was similarly dramatic.) Analysts offer a somewhat cloudy picture for next year. No, there will be no … Continue reading →

Posted in Economy, Macau, Melco Crown Entertainment, MGM Mirage, Sheldon Adelson, Steve Wynn, Wall Street | Comments Off on Macao rules

Test time in Massachusetts; Penn, PokerStars fight over scraps

Posted on January 2, 2014 by David McKee

Move over, Tolstoy: MGM Resorts International has submitted its formal application for a Massachusetts casino … and it’s 7,000 pages long. The Massachusetts Gaming Commission had better clear its calendar. But that’s nothing compared to 16,034-page Mohegan Tribal Gaming Authority … Continue reading →

Posted in Atlantic City, CityCenter, Colony Capital, Hard Rock International, Harrah's, Massachusetts, MGM Mirage, Mohegan Sun, Penn National, Regulation, Steve Wynn, Tropicana Entertainment | Comments Off on Test time in Massachusetts; Penn, PokerStars fight over scraps

Nevada finishing year strong; Christie’s choler

Posted on December 31, 2013 by David McKee

With a little help from one extra weekend day, Nevada gross gaming revenues shot upward 12% statewide in November and 23% on the Strip. Baccarat players lost their shirts, with the house winning 94% more than the previous year. Less … Continue reading →

Posted in Atlantic City, Boulder Strip, Cordish Co., Current, Downtown, Economy, Harrah's, Laughlin, Maryland, Massachusetts, MGM Mirage, North Las Vegas, Penn National, Regulation, Reno, Steve Wynn, The Strip, Tilman Fertitta, Trump Entertainment Resorts | 2 Comments

Optimism in Boston; Sands is #1

Posted on December 26, 2013 by David McKee

What are the chances that Suffolk Downs could become the most profitable casino in the Western Hemisphere? Not good, you’d think, but Mohegan Tribal Gaming Authority is willing to bet on it. If annual revenue reaches $1 billion, then Revere … Continue reading →

Posted in Bally Technologies, Churchill Hill, Massachusetts, MGM Mirage, Mohegan Sun, New York, Reno, Sheldon Adelson, Steve Wynn, Taxes, Wall Street | Comments Off on Optimism in Boston; Sands is #1

Mohegan Sun scolded; Atlantic Club’s death throes

Posted on December 24, 2013 by David McKee

City fathers in Palmer, Massachusetts, have had a sudden falling-out with Mohegan Tribal Gaming Authority. They’ve accused Mohegan Sun of deliberately tanking the Nov. 5 election through “a deliberate pattern of delay and mismanagement.” As such, they’ll be joining the … Continue reading →

Posted in Atlantic City, Cordish Co., Hard Rock International, Harrah's, Indiana, Massachusetts, Mohegan Sun, Regulation, Revel, Steve Wynn, Taxes, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts | Comments Off on Mohegan Sun scolded; Atlantic Club’s death throes

And it’s … MGM again

Posted on December 23, 2013 by David McKee

Add Massachusetts to the roster of states where MGM Resorts International has been approved to operate. It received the unanimous assent of the Massachusetts Gaming Commission earlier today. “The Commission … finds that the Applicant has satisfied its burden of … Continue reading →

Posted in Current, Election, Greenwood Racing, Maryland, Massachusetts, MGM Mirage, Penn National, Regulation, Steve Wynn, Uncategorized | Comments Off on And it’s … MGM again

Curtains for Atlantic Club; Foxwoods rides again

Posted on December 23, 2013 by David McKee

In a curious bankruptcy-court resolution, the Atlantic Club Hotel was sold to two buyers. Tropicana Entertainment — probably getting the better part of the deal — paid $8.4 million for the gambling equipment and player database. Caesars Entertainment spent $15 … Continue reading →

Posted in Atlantic City, CityCenter, Colony Capital, Foxwoods, Harrah's, Massachusetts, Regulation, Steve Wynn, The Strip, Tribal, Tropicana Entertainment, Wall Street, Wisconsin | Comments Off on Curtains for Atlantic Club; Foxwoods rides again

Poster cuts his losses; Showdown in Lansing

Posted on December 19, 2013 by David McKee

Gaming executive Tim Poster has bounced hither and yon, and now he’s asking to be bounced to the outer fringes of the casino industry. His attorneys will not be challenging the Nevada Gaming Control Board‘s finding of unsuitability and will … Continue reading →

Posted in Charity, Internet gambling, Maryland, MGM Mirage, Mohegan Sun, Regulation, Station Casinos, Steve Wynn, Tribal | Comments Off on Poster cuts his losses; Showdown in Lansing

Genting, Steve Wynn & so much more

Posted on December 17, 2013 by David McKee

Genting Group has narrowed its price target for finishing Resorts World Vegas. It will spend between $3 billion and $4 billion to complete the project (for which it has already paid $350 million for land). For a post-recession Vegas that’s … Continue reading →

Posted in CityCenter, Colorado, Current, Dubai, Economy, Florida, Fontainebleau, Foxwoods, Genting, Internet gambling, Massachusetts, MGM Mirage, Mohegan Sun, New York, Pinnacle Entertainment, Politics, Racinos, Steve Wynn, The Strip | 2 Comments

Quote of the Day

Posted on December 17, 2013 by David McKee
Posted in Massachusetts, Regulation, Steve Wynn | Comments Off on Quote of the Day

Falling out in Philly; Falling apart at Caesars

Posted on December 17, 2013 by David McKee

SugarHouse Casino has finally said what needed to be said: The Philadelphia market is tapped out for casinos. It’s not entirely a  disinterested stance; SugarHouse is finishing a $155 million expansion and vulnerable to new competition. But the numbers have … Continue reading →

Posted in Atlantic City, Greenwood Racing, Harrah's, Internet gambling, Maryland, Massachusetts, Neil Bluhm, Penn National, Pennsylvania, Regulation, Steve Wynn, The Strip, Tilman Fertitta | 1 Comment

Bad news for Adelson; Wynn OK’d

Posted on December 17, 2013 by David McKee

I don’t know if Sheldon Adelson deserves the credit, but it looks like his anti-Internet-casino jihad has driven Big Gaming closer together. Wynn Resorts and Station Casinos and Churchill Downs have all joined the American Gaming Association. AGA prexy Geoff … Continue reading →

Posted in Atlantic City, Colony Capital, Geoff Freeman, International, Internet gambling, Massachusetts, MGM Mirage, Regulation, Sheldon Adelson, Station Casinos, Steve Wynn | Comments Off on Bad news for Adelson; Wynn OK’d

The case against Crosby

Posted on December 13, 2013 by David McKee

As expected, the Massachusetts Gaming Commission fired off a broadside against Caesars Entertainment. It defended its Investigations & Enforcement Bureau as “comprised of seasoned investigators, [who act] independently to protect the public interest.” That’s partly a defense of the IEB … Continue reading →

Posted in Election, Florida, Foxwoods, Harrah's, Massachusetts, MGM Mirage, Regulation, Steve Wynn, Tribal | 1 Comment

D-Day nears for Massachusetts, Maryland

Posted on December 9, 2013 by David McKee

This just in: MGM Resorts International has been tentatively approved by the investigative branch of the Massachusetts Gaming Commission, pending the satisfaction of certain matters. That moment is drawing nigh at which point the Massachusetts Gaming Commission must rule upon … Continue reading →

Posted in Atlantic City, Colony Capital, Cordish Co., Greenwood Racing, Harrah's, Maryland, Massachusetts, MGM Mirage, Pansy Ho, Penn National, Regulation, Stanley Ho, Steve Wynn, Tribal | 1 Comment

Imbalances of power; Vegas to Israel?

Posted on December 6, 2013 by David McKee

It was another bonny month for Maryland, whose casino revenues grew 55% in November, up to $67 million. It’s not an apples/apples comparison, since neither Rocky Gap Casino nor table games were in play a year ago. Tables were responsible … Continue reading →

Posted in Charity, Cordish Co., Economy, Greenwood Racing, Harrah's, Illinois, Macau, Maryland, Melco Crown Entertainment, MGM Mirage, Neil Bluhm, Penn National, Pets, Sheldon Adelson, Stanley Ho, Steve Wynn | Comments Off on Imbalances of power; Vegas to Israel?

Online gambling a hit in New Jersey; Crackdown in Singapre

Posted on December 3, 2013 by David McKee

Despite some small fits and starts, New Jersey was able to roll out Internet gambling to eager Garden State citizens and with no major issues. Moody’s Investor Service predicted $250 million-$500 million in revenues during the first year, while Gov. … Continue reading →

Posted in Atlantic City, Harrah's, Internet gambling, MGM Mirage, Sheldon Adelson, Singapore, Steve Wynn, Tilman Fertitta | Comments Off on Online gambling a hit in New Jersey; Crackdown in Singapre

Quote of the Day

Posted on December 3, 2013 by David McKee

“I have been bombarded by my colleagues about the Internet. Like Mt. Everest, it looms on the horizon, blotting out the sun. I fail to see the business opportunity myself. So what I do is, I hook up with my … Continue reading →

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