Category Archives: Steve Wynn

Caesars spooks Wall Street; Florida fumbles

Posted on September 26, 2013 by David McKee

Not surprisingly, Caesars Entertainment stock took a dip this morning. Why the lack of surprise? The company is further diluting its value by preparing to issue 10 million additional shares of common stock. “While we would view the announcement as … Continue reading →

Posted in Atlantic City, Donald Trump, Florida, Harrah's, Internet gambling, Phil Ruffin, Politics, Racinos, Sheldon Adelson, Steve Wynn, Taxes, Wall Street | 1 Comment

Bad day for Tomato King and Wynn

Posted on September 25, 2013 by David McKee

While the City of Philadelphia is officially neutral on who should get the last gambling license for the area, it’s not above giving the Pennsylvania Gaming Control Board a not-so-gentle-nudge. At a hearing led by Deputy Mayor Alan Greenberger, two … Continue reading →

Posted in Architecture, Cordish Co., Cosmopolitan, International, Macau, Penn National, Pennsylvania, Regulation, Sheldon Adelson, Singapore, Steve Wynn, Tomato King Procacci, Tourism | Comments Off

Wall Street comes to the Strip, meets the big boys

Posted on September 24, 2013 by David McKee

Investment firms like J.P. Morgan and Deutsche Bank have been sending emissaries to Las Vegas this week, to meet with all the major gaming firms during Global Gaming Expo. Since the latter is being held at Sands Expo Center, perhaps … Continue reading →

Posted in Current, Economy, G2E, Isle of Capri, Japan, Macau, Marketing, Massachusetts, MGM Mirage, Missouri, Pennsylvania, Sheldon Adelson, Singapore, Steve Wynn, The Strip, Tourism, Wall Street | Comments Off

Another Borgata first; Ohio is “george”; Adelson’s waiting game

Posted on September 20, 2013 by David McKee

In what could be a harbinger of good things for Atlantic City, the final events of the World Poker Tour are being held at Borgata. It’s to promote the legalization of online poker in New Jersey, but anything that brings … Continue reading →

Posted in Atlantic City, Boyd Gaming, Environment, International, Internet gambling, Japan, Ohio, Problem gambling, Sheldon Adelson, Steve Wynn | 2 Comments

Japan’s in; Chaperoned at Caesars; D.C. gridlock strikes again

Posted on September 19, 2013 by David McKee

A pro-casino group of lawmakers plans to introduce gambling-enabling legislation in the upcoming session of the Japanese Diet. Steve Wynn was quick to plunk $4 billion-plus on the table, while MGM Resorts International promises unspecified “billions.” It’s like a gold … Continue reading →

Posted in Harrah's, Japan, Massachusetts, Melco Crown Entertainment, MGM Mirage, Ohio, Sheldon Adelson, Stanley Ho, Steve Wynn, Tribal | Comments Off

Making the grade

Posted on September 17, 2013 by David McKee

Congratulations to the following casino industry figures for making it onto the Forbes 400 … #11: Las Vegas Sands CEO Sheldon Adelson. He’s richer than you are. #18: Fontainebleau owner Carl Icahn #27: Scientific Games lead owner Ron Perelman #36: … Continue reading →

Posted in Carl Icahn, Donald Trump, Fontainebleau, MGM Mirage, Phil Ruffin, Scientific Games, Sheldon Adelson, Station Casinos, Steve Wynn, Tilman Fertitta, Wall Street | Comments Off

Trouble in another paradise; Sheldon’s sex shoppe

Posted on September 14, 2013 by David McKee

Overruling Massachusetts Attorney General Martha Coakley (D), a Bay State court has issued an injunction allow signature-gatherers to keep collecting voters’ John Hancocks on a petition to repeal 2011’s casino-enabling legislation. Considering the land purchases, to say nothing of the … Continue reading →

Posted in Current, Entertainment, Massachusetts, New Hampshire, Pennsylvania, Politics, Regulation, Rhode Island, Sheldon Adelson, Steve Wynn, The Strip | Comments Off

Boston capitulates, Wynn wins (for now)

Posted on September 6, 2013 by David McKee

It was eyeball-to-eyeball and Boston Mayor Thomas Menino just blinked. Threatened with the termination of Steve Wynn‘s Everett project were Boston to be deemed a host community, Menino’s administration folded like a pup tent. “Based on the new information provided … Continue reading →

Posted in Current, Harrah's, Massachusetts, Penn National, Racinos, Regulation, Steve Wynn | Comments Off

Linq looking good & other Case Bets

Posted on September 5, 2013 by David McKee

You can’t drive around the Vegas Valley these days without having a clear view of the Las Vegas High Roller, the Ferris wheel that is Caesars Entertainment‘s would-be tourism magnet, which seems to grow overnight. It’s an impressive sight, one … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Entertainment, Environment, Harrah's, Internet gambling, Isle of Capri, Revel, Steve Wynn, The Strip, Wall Street | 2 Comments

Beantown Brawl: Wynn vs. Menino

Posted on September 5, 2013 by David McKee

It wasn’t exactly a Profile in Courage day for the Massachusetts Gaming Commission yesterday. It told the cities of Everett and Boston to work out their feud over a proposed Steve Wynn casino between themselves. Now what do you think … Continue reading →

Posted in Architecture, Election, Harrah's, Massachusetts, Penn National, Pennsylvania, Racinos, Regulation, Steve Wynn, Tomato King Procacci | 2 Comments

Foxwoods: Mo’ money; Hard Rock brings it on; Wishful thinking at Cosmo

Posted on September 3, 2013 by David McKee

Caved, shaken down, outfoxed: Take your choice of term as Foxwoods Massachusetts has seemingly capitulated to Milford selectmen and raised its downpayment from $18 million to $34 million. All it took was a few grumblings from the aforementioned selectmen and … Continue reading →

Posted in Cosmopolitan, Dining, Economy, Entertainment, Foxwoods, Hard Rock International, Massachusetts, MGM Mirage, Sheldon Adelson, Steve Wynn | Comments Off

Quote of the Day

Posted on August 30, 2013 by David McKee

“It certainly impacts my line of thinking in terms of what these licenses are worth.[Foxwoods] needs to package the best deal possible and, right now, they’re third in the list of three.” — Milford Board of Selectman Chairman William Buckley, … Continue reading →

Posted in Foxwoods, Harrah's, Massachusetts, Steve Wynn | Comments Off

Loveman, Loveman everywhere

Posted on August 29, 2013 by David McKee

Racetrack owner Richard Fields and Caesars Entertainment are wrapping up their deals with Boston and Revere with dispatch. And the latter are making out like bandits. In their zeal to close deals, Fields and Loveman may be overpaying for the … Continue reading →

Posted in Dining, Entertainment, Foxwoods, G2E, Harrah's, Massachusetts, Racinos, Rhode Island, Steve Wynn, Tribal | Comments Off

Sands pays The Man; Brothel bargains; Caesars goes to Boston

Posted on August 28, 2013 by David McKee

Uncle Sam is $47 million richer today after collecting an eight-figure settlement from Las Vegas Sands. Seems the latter had been operating on the outer fringes of legality when handling large sums of moolah from Zhenli Ye Gon. The latter, … Continue reading →

Posted in Current, Economy, Entertainment, Harrah's, International, Massachusetts, Sheldon Adelson, Steve Wynn | Comments Off

Suffolk Downs a near-done deal

Posted on August 27, 2013 by David McKee

Boston has reached an agreement with the owners of Suffolk Downs. It would be the most “george” deal in eastern Massachusetts. Where Foxwoods Massachusetts would pony up $18 million in advance, Caesars Entertainment and Richard Fields offer $33 million, along … Continue reading →

Posted in Current, Foxwoods, Harrah's, Massachusetts, Regulation, Steve Wynn | Comments Off

Case Bets: Seneca scandal; Atlantic City brings on the girls; Still no help for Mashpee

Posted on August 27, 2013 by David McKee

Well, that didn’t take long. Scarcely was the ink dry on New York Gov. Andrew Cuomo‘s deal with the state’s gaming-enabled tribes than the Seneca Indian Nation stepped right into a scandal. $5 million of an $8 million development deal … Continue reading →

Posted in Atlantic City, Entertainment, Foxwoods, Massachusetts, Mohegan Sun, New York, Pennsylvania, Regulation, Sports, Steve Wynn, The Strip, Tribal, Trump Entertainment Resorts | Comments Off

Atlantic City: Half-full or half-empty?; Crosby tips his hand

Posted on August 23, 2013 by David McKee

It depends on which newspaper you read. The Press of Atlantic City took the half-full route, focusing on the profits made by eight of the city’s dozen casinos. The Associated Press pointed to the narrowing margin of aforesaid gross-operating profitability. … Continue reading →

Posted in Boyd Gaming, Donald Trump, Economy, Foxwoods, Harrah's, International, James Packer, Massachusetts, Mohegan Sun, Pennsylvania, Problem gambling, Regulation, Revel, Sheldon Adelson, Steve Wynn, The Strip | 1 Comment

Wynn hearts Atlantic City; A pointless election

Posted on August 22, 2013 by David McKee

Update: Penn National Gaming has been tipped as a potential buyer for disqualified Plainridge Racecourse. The city has already scheduled a Sept. 10 vote on a slot parlor, so Penn would have less than three weeks to negotiate the essential … Continue reading →

Posted in Atlantic City, Colony Capital, Cordish Co., Current, Election, Florida, Internet gambling, Massachusetts, Penn National, Pennsylvania, Regulation, Revel, Steve Wynn | 2 Comments

Massachusetts: Small problem for Wynn, big trouble for MGM, Plainridge

Posted on August 12, 2013 by David McKee

Boston still has 10 weeks to reach terms with Suffolk Downs on a billion-dollar racino. That may explain Caesars Entertainment‘s apparent lack of urgency in reaching a host-community agreement. Beantown Mayor Thomas Menino‘s administration seems to be expending considerably more … Continue reading →

Posted in Atlantic City, California, Cordish Co., Current, Harrah's, Marketing, Maryland, Massachusetts, Neil Bluhm, Penn National, Pennsylvania, Politics, Racinos, Regulation, Steve Wynn, Tomato King Procacci, Tribal | Comments Off

Murren disses Adelson; Caesars bows out of Macao; Clerical choler

Posted on August 12, 2013 by David McKee

“Maybe because he’s rich he thinks people care about what he has to say. It’s obvious we know Las Vegas better than he does.” With those wordsMGM Resorts International CEO Jim Murren laid a surprisingly blunt smackdown on Las Vegas … Continue reading →

Posted in Current, Florida, Harrah's, James Packer, Lawrence Ho, Macau, Massachusetts, MGM Mirage, Problem gambling, Sheldon Adelson, Stanley Ho, Steve Wynn, The Strip, Wall Street | 3 Comments