Category Archives: Steve Wynn

Cosmo plunges again; Nevada signals surrender

Posted on August 5, 2013 by David McKee

Would somebody please sack the so-called casino management and marketing staff at The Cosmopolitan of Las Vegas. Everything at the Cosmo is improving except the gambling floor, which took a 20% nosedive in 2Q13, to $31 million. Losses were 25% … Continue reading →

Posted in Atlantic City, Colony Capital, Cosmopolitan, Current, Dining, Internet gambling, Macau, MGM Mirage, Regulation, Sheldon Adelson, Singapore, Stanley Ho, Steve Wynn, The Mob, The Strip | 5 Comments

Quote of the Day

Posted on August 4, 2013 by David McKee

“China: A backward country with no minimum wage, safety and environmental regulations, civil rights, or workers’ rights … which the United States should start imitating as soon as possible. Not really Communist any more (see Business Friendly).” — very true and … Continue reading →

Posted in Macau, Sheldon Adelson, Steve Wynn | Comments Off

What’s new in Sparks?; Tomato King strikes again; Bluhm’s bad luck

Posted on August 2, 2013 by David McKee

Arising from the grave of the Silver Club, the brand-new Bourbon Square Casino was finished just in the nick of time for yesterday’s opening. Owner Nevada Casino Holdings has done well, delivering a “new” casino for just $5 million. It … Continue reading →

Posted in Boulder Strip, Columbia Sussex, Current, Don Barden, Laughlin, Massachusetts, Neil Bluhm, Penn National, Pennsylvania, Reno, Station Casinos, Steve Wynn, Tomato King Procacci | Comments Off

Vegas: Remembrance of revenues past; Making the grade in Massachusetts

Posted on August 1, 2013 by David McKee

“I think we are having a limp-wristed sort of crawl out of a hole, but a recovery is a more robust word,” the one and only Steve Wynn said earlier this week. The numbers bear him out, as tourism continues … Continue reading →

Posted in Cordish Co., Current, Dining, Economy, Entertainment, Foxwoods, Harrah's, Massachusetts, MGM Mirage, Mohegan Sun, Racinos, Regulation, Steve Wynn, The Strip, Tourism | Comments Off

Silly in Philly; Dinosaurs in Macao; New York’s choice

Posted on July 31, 2013 by David McKee

From the silly file. There’s no reason that any Joe Blow can’t apply for a casino license in Philadelphia. But I get a kick out of fruit-and-vegetable mogul Joseph “Tomato King” Procacci thinking he can actually outdo the likes of … Continue reading →

Posted in Animals, Election, Isle of Capri, Macau, New York, Penn National, Pennsylvania, Problem gambling, Regulation, Stanley Ho, Steve Wynn, Taxes | Comments Off

A tale of two cities …

Posted on July 30, 2013 by David McKee

… and both of them are Las Vegas. Last week, Sheldon Adelson pitched a fit about how he thought MGM Resorts International and Caesars Entertainment were driving down his room rates (as though it were the job of Jim Murren … Continue reading →

Posted in Current, Dining, Economy, Harrah's, MGM Mirage, Sheldon Adelson, Steve Wynn, Taxes, The Strip, Tourism, Wall Street | Comments Off

One Angry Man; MGM expansion bodes well

Posted on July 25, 2013 by David McKee

Y’know, if I was reporting a 120% profit increase in 2Q13, I might stop and enjoy the moment. I certainly wouldn’t choose that moment to be a dick. Obviously, I am not Sheldon Adelson. Proffering evidence that his second infancy … Continue reading →

Posted in Current, Economy, Harrah's, International, Macau, Maryland, Massachusetts, MGM Mirage, Penn National, Sheldon Adelson, Steve Wynn, Tourism, Wall Street | 1 Comment

Wynn checkmated in Everett?; Cordish sees Penn, raises ante

Posted on July 22, 2013 by David McKee

As we all would agree, Suffolk Downs doesn’t have the capitalization, the track record or the leadership that Wynn Resorts does. However, Richard Fields and Harvard homeboy Gary Loveman have a big something going for them: juice. I expected their … Continue reading →

Posted in Atlantic City, Cordish Co., Current, Dining, Election, Foxwoods, Genting, Harrah's, Massachusetts, New York, Pennsylvania, Politics, Racinos, Regulation, Revel, Steve Wynn, Taxes, Tribal | 1 Comment

Massachusetts: Penn’s back in; New market for Adelson?

Posted on July 19, 2013 by David McKee

When the city of Springfield finally stopped fence-sitting and decided against going with Penn National Gaming, I knew it was only a matter of time before Penn emerged somewhere else in Massachusetts. Boy, has it ever. Operating with speed and … Continue reading →

Posted in Cordish Co., Current, Environment, Hard Rock International, International, Lake Tahoe, Massachusetts, Neil Bluhm, Penn National, Politics, Racinos, Regulation, Sheldon Adelson, Steve Wynn, Taxes, Tropicana Entertainment | Comments Off

Springfield: MGM wins again; Barton: Congressman or con artist?

Posted on July 17, 2013 by David McKee

As predicted, voter turnout was low but a victory is a victory, and MGM Resorts International went home a winner yesterday. Springfield voters ratified an agreement between MGM and the city, 58% to 42%. Scarcely had the last vote been … Continue reading →

Posted in Atlantic City, Current, Donald Trump, Economy, Environment, Harrah's, Harry Reid, International, Internet gambling, Massachusetts, MGM Mirage, Politics, Racinos, Regulation, Revel, Sheldon Adelson, Steve Wynn, Taxes, Tribal | 1 Comment

Barton delivers; Penn takes the initiative

Posted on July 12, 2013 by David McKee

It was a somewhat mixed victory for the casino industry. Rep. Joe Barton (R-TX, left) revived a 2012 initiative, in the form of his Internet Poker Freedom Act, legislation that he’s been promising for a couple of election cycles now. … Continue reading →

Posted in Architecture, Current, Internet gambling, Isle of Capri, Louisiana, Maryland, Massachusetts, Penn National, Pennsylvania, Politics, Regulation, Station Casinos, Steve Wynn, Taxes, The Strip | 1 Comment

Missouri misery; Revel inches upward

Posted on July 10, 2013 by David McKee

Sometimes I feel Gary Loveman‘s pain — and that of Anthony Sanfilippo, Virginia McDowell, Peter Carlino … When they look at the kind of numbers states like Missouri are generating, they must want to shake a fist and say, “Gamble, … Continue reading →

Posted in Ameristar, Atlantic City, Boyd Gaming, Colony Capital, Current, Donald Trump, Economy, Harrah's, Illinois, Isle of Capri, MGM Mirage, Missouri, Ohio, Penn National, Pinnacle Entertainment, Revel, Steve Wynn, Wall Street | 3 Comments

Gold strike in Maryland; Ghost train; ‘Sell’ order on Sands; Wynn cleared

Posted on July 8, 2013 by David McKee

That elastic band which is American consumers’ gambling budget may have tightened in Illinois and gone slack in Ohio, but it’s expanding nicely in Maryland, now that table games are part of the mix. Sayeth the Maryland Lottery, revenues for … Continue reading →

Posted in California, Cordish Co., Current, Economy, Macau, Maryland, Massachusetts, North Las Vegas, Penn National, Pennsylvania, Sheldon Adelson, Steve Wynn, Tourism, Transportation, Wall Street | Comments Off

SkyVue kaput?; Wowing them in Massachusetts

Posted on July 3, 2013 by David McKee

That’s the unavoidable conclusion, despite the increasingly comical protestations of local developer Howard Bulloch‘s sidekicks. Caesars Entertainment‘s rival Ferris wheel may be in a terrible location, it may be progressing slowly but — but — it is progressing. SkyVue has … Continue reading →

Posted in Architecture, Current, Economy, Genting, Harrah's, Massachusetts, MGM Mirage, Penn National, Politics, Regulation, Steve Wynn, The Strip, Tourism, Tribal, Wall Street | 2 Comments

Shifting Sands; Happy birthday, Hollywood Aurora

Posted on June 25, 2013 by David McKee

(Update: J.P. Morgan analyst Joseph Greff vented frustration to investors over yet another “self-inflicted negative headline,” while remaining upbeat on LVS stock. He did not relate Kay’s departure to “any negative event … We note that Mr. Kay worked for … Continue reading →

Posted in Current, Economy, Harrah's, Illinois, Macau, MGM Mirage, Penn National, Sheldon Adelson, Steve Wynn | 1 Comment

Wynn wins big; Foxwoods and Mohegans try harder

Posted on June 24, 2013 by David McKee

As expected, voters in Everett, Massachusetts, went to the polls, expressed their approval of Wynn Resorts‘ proposed resort — and it wasn’t even close. Opposition was obliterated, 86% to 14%. Where the burghers of tony Foxborough had turned up their … Continue reading →

Posted in Culinary Union, Election, Entertainment, Massachusetts, MGM Mirage, New Hampshire, Regulation, Sheldon Adelson, Steve Wynn, Tourism, Tribal | 2 Comments

Wynn Everett a slam dunk?; Caesars In(ter)active

Posted on June 21, 2013 by David McKee

It’s looking that way. Amounts donated by Wynn Resorts and Wynn affiliates toward this weekend’s referendum: $465,000. Amount spent in opposition: $0. That’s right, nothing. Steve Wynn has also been careful not to stir up potential anti-casino ire by avoiding media … Continue reading →

Posted in Current, Election, Harrah's, Internet gambling, Massachusetts, Regulation, Steve Wynn | Comments Off

Delaware casinos offered bailout; Wynn making gains in Massachusetts

Posted on June 18, 2013 by David McKee

State governments like casinos because they fill the capitol’s coffers with revenue. At least that’s what they’re supposed to do. But something’s gone very wrong in Delaware. Gov. Jack Markell‘s administration — having an extra $50 million on hand — … Continue reading →

Posted in Harrah's, Massachusetts, Neil Bluhm, Penn National, Politics, Steve Wynn, Taxes, Tribal | Comments Off

Macao: Light and darkness

Posted on June 17, 2013 by David McKee

If you read Bloomberg News last week, Macao is tantamount to Disneyland, at least if you visit Venetian Macao, which is “home to a fake grand canal, crooning gondoliers and brands from McDonald’s to Dior.” The amenity-laden style of Sheldon … Continue reading →

Posted in Macau, Marketing, MGM Mirage, Regulation, Sheldon Adelson, Stanley Ho, Steve Wynn, The Mob, Tourism | 1 Comment

Wynn gets serious in Massachusetts; Little racino bests Caesars

Posted on June 14, 2013 by David McKee

Steve Wynn is engaging a multi-pronged effort to clinch the favor of voters in Everett. Of course, if the Massachusetts Gaming Commission takes time off from generating paperwork to stop and be impressed by Wynn’s campaign, so much the better. Wynn’s … Continue reading →

Posted in Architecture, Current, Dan Gilbert, Harrah's, Massachusetts, Ohio, Pennsylvania, Racinos, Regulation, Steve Wynn, Taxes, Tribal | 1 Comment