Category Archives: Steve Wynn

Wynn cashes out; X Train back on track; Newport Grand out of luck

Posted on November 19, 2012 by David McKee

Caught between the twin hazards of prospective higher taxes on investment income and the looming fiscal cliff, Steve Wynn made headlines today with his $750 million Thanksgiving special dividend, which ought to help pay for all those Black Friday purchases … Continue reading →

Posted in California, Downtown, Election, Penn National, Racinos, Steve Wynn, Tamares Group, Taxes, Transportation, Wall Street | 1 Comment

A tale of two Penns

Posted on November 16, 2012 by David McKee

Update: Seeking Alpha’s Brad Thomas has run the numbers on the Penn split and doesn’t like the risk/reward scenario. Fifteen years and many consolidations ago, the casino industry was seized by a brain fever. It was set off by the … Continue reading →

Posted in Ameristar, Colorado, Cordish Co., Harrah's, history, Indiana, International, Kansas, Louisiana, Maine, Maryland, MGM Mirage, Ohio, Pennsylvania, Racinos, Regulation, Riviera, Sheldon Adelson, Station Casinos, Steve Wynn, Taxes, Texas, The Strip, Tribal, Wall Street | 2 Comments

Un-Lucky by any name; Shame on Trump Entertainment

Posted on November 13, 2012 by David McKee

Since there is no problem in today’s America too trivial to be resolved with gunplay, let the record show that 31-year-old Kevin Jones Jr. was mortally wounded at the Lucky Club Casino early this morning. Jones was pronounced dead at … Continue reading →

Posted in Atlantic City, Current, Donald Trump, Economy, Environment, MTR Gaming, North Las Vegas, Regulation, Steve Wynn | Comments Off on Un-Lucky by any name; Shame on Trump Entertainment

Wynn comes to Philadelphia … again; Atlantic City: About as expected

Posted on November 12, 2012 by David McKee

Now we know why Steve Wynn was careful to mend fences with Philadelphia Mayor Michael Nutter (below) in 2010 when negotiations to take over the doomed Foxwoods Casino Philadelphia project abruptly feel apart and Wynn skipped town. He’s back with … Continue reading →

Posted in Atlantic City, Baseball, Colony Capital, Cordish Co., Current, Donald Trump, Economy, Harrah's, Maryland, Neil Bluhm, Penn National, Pennsylvania, Politics, Regulation, Revel, Steve Wynn, Tilman Fertitta, Tribal, Tropicana Entertainment, Wall Street | Comments Off on Wynn comes to Philadelphia … again; Atlantic City: About as expected

Wake up with Loveman; More election aftermath

Posted on November 8, 2012 by David McKee

No sooner were Wall Street analysts uttering serious concerns about a slow post-Sandy recovery for Atlantic City than who should pop up on CBS This Morning but Caesars Entertainment CEO Gary Loveman, doing damage control … It’s hard to decide … Continue reading →

Posted in Atlantic City, Boyd Gaming, Current, Dan Gilbert, Donald Trump, Economy, Environment, Harrah's, Internet gambling, Kentucky, Massachusetts, Pennsylvania, Politics, Regulation, Sheldon Adelson, Steve Wynn, The Strip, Tilman Fertitta, Tourism, Transportation, TV, Wall Street | Comments Off on Wake up with Loveman; More election aftermath

Election wrap-up: Winners & losers

Posted on November 7, 2012 by David McKee

But first, because it will never, ever get old … Also this, from @daveweigel: “[Florida] exit poll: Obama winning Jewish vote by 40 points. 40 points. Nice work, Sheldon Adelson.” We’ll tap dance on Sheldon’s head some more further down, … Continue reading →

Posted in Atlantic City, Colony Capital, Colorado, Cordish Co., Cretins, Current, Donald Trump, Economy, Election, Florida, Goldman Sachs, Harrah's, International, Internet gambling, Maine, Marketing, Maryland, Massachusetts, Minnesota, Pennsylvania, Politics, Racinos, Sheldon Adelson, Shuffle Master, Steve Wynn, Tribal, TV, Wall Street, West Virginia | 4 Comments

Where’s Sheldo?; Stiffed by Aliante?

Posted on November 6, 2012 by David McKee

That’s the question posed today by Esquire‘s Jason Whited, who tries to find the Blofeld-like mastermind. “Anyplace other than Las Vegas,” seems to be the answer. “Political types here and across the country speak of him in almost hushed tones,” … Continue reading →

Posted in Current, Election, Marketing, North Las Vegas, Sheldon Adelson, Station Casinos, Steve Wynn | 6 Comments

Third-quarter blahs: Ameristar, Boyd, MGM; Crackdown in Alabama

Posted on November 2, 2012 by David McKee

While nobody quite matched the $221 million loss posted by Caesars Entertainment, the gaming industry didn’t lack for underachievers in 3Q12, thanks largely to softness in domestic casino markets. Ameristar Casinos reported a $16 million profit, despite a 2% revenue … Continue reading →

Posted in Alabama, Ameristar, Atlantic City, Boyd Gaming, CityCenter, Colorado, Current, Detroit, Downtown, Environment, Harrah's, Hawaii, Illinois, Iowa, Kansas, Louisiana, Macau, Marketing, Massachusetts, MGM Mirage, Mississippi, Missouri, Ohio, Penn National, Steve Wynn, The Strip | Comments Off on Third-quarter blahs: Ameristar, Boyd, MGM; Crackdown in Alabama

The economy explained, in 394 seconds

Posted on October 30, 2012 by David McKee

Find me one casino company that doesn’t carry long-term debt …. like the -$2.8 billion sitting on the balance sheet of Wynn Resorts, right, Steve?

Posted in Economy, International, Steve Wynn | 1 Comment

Shadow-puppetry at the Sahara; TropiHilton of LV; Melco goes southerly

Posted on October 26, 2012 by David McKee

“Lightweight” might be a apt term to describe the braintrust forming around the SLS/Sahara project. So would “miscast.” Reporting to casino novice and owner Sam Nazarian, its president will be J.P. Morgan investment banker Sam Bakhshandehpour. His main qualification for … Continue reading →

Posted in Alex Yemenidjian, Colony Capital, Cosmopolitan, Current, Goldman Sachs, Harrah's, International, James Packer, Lawrence Ho, Marketing, Melco Crown Entertainment, MGM Mirage, Planet Hollywood, Sahara, Steve Wynn, The Strip, Tourism, Wall Street | Comments Off on Shadow-puppetry at the Sahara; TropiHilton of LV; Melco goes southerly

Zynga counterattacks; Fail, Caesar; Adelson honored

Posted on October 25, 2012 by David McKee

If the Stalin organs of the Zynga PR battery had fallen silent, it was only to reload. As predicted yesterday, Zynga is regrouping around Internet gambling as its new strategy of choice. Zynga unleashed “announced an exclusive partnership [with Bwin.party] … Continue reading →

Posted in Architecture, Atlantic City, Boyd Gaming, Dan Lee, Donald Trump, Harrah's, International, Internet gambling, Maryland, MGM Mirage, Missouri, New York, Ohio, Pinnacle Entertainment, Politics, Revel, Sheldon Adelson, Steve Wynn, The Strip, Transportation, Tribal | 1 Comment

When money talks, few are deaf

Posted on October 12, 2012 by David McKee

When addressing the subject of Sheldon Adelson (must we?), the extent to which he has stolen Wynn’s thunder and lightning was made manifest by a lengthy Politico.com profile. Adelson (right, ca. 1998), who can often behave like a colicky infant, … Continue reading →

Posted in Current, Economy, Election, Harrah's, Internet gambling, Macau, MGM Mirage, Politics, Regulation, Steve Wynn, Taxes, Tourism, TV, Wall Street | 1 Comment

Hail, Bill’s!; Trump slump; Back in the fold

Posted on October 10, 2012 by David McKee

In a typically ludicrous Gary Loveman brainstorm, Bill’s Gamblin’ Hall & Saloon is to become — wait for it — Caesars Drai’s. (Yeah, ‘WTF?’ and all that.) Although you’d have to be either masochistic or insane to loan money to … Continue reading →

Posted in Alex Yemenidjian, Architecture, Current, Detroit, Donald Trump, Florida, Harrah's, Illinois, International, Marketing, Maryland, Massachusetts, MGM Mirage, Ohio, Pennsylvania, Station Casinos, Steve Wynn, The Strip, Tilman Fertitta, Tourism, Wall Street | Comments Off on Hail, Bill’s!; Trump slump; Back in the fold

Black man frightens Steve Wynn, Part Two; MGM: Time to forget Harmon?

Posted on October 10, 2012 by David McKee

As Yahoo‘s Jeff Macke cuttingly puts it, he “found a real, live businessman who creates jobs,” thereby providing a Steve Wynn-to-sanity translation, courtesy of CIO Advisors‘ Hugh Johnson. If Wynn were truly being honest, he’d cut to the quick: He’s … Continue reading →

Posted in Architecture, Cantor Gaming, CityCenter, Colony Capital, Columbia Sussex, Cosmopolitan, Cretins, Current, Donald Trump, Economy, Election, Fontainebleau, Goldman Sachs, Hard Rock Hotel, Harrah's, history, International, Louisiana, Macau, Massachusetts, MGM Mirage, Morgans Hotel Group, North Las Vegas, Politics, Sports, Station Casinos, Steve Wynn, Technology, TV, Wall Street | 2 Comments

USA Today’s best of the Strip

Posted on October 6, 2012 by David McKee

Pursuant to our last S&G dispatch, here are the USA Today choices for top attractions on the Strip (uniqueness and affordability being prime considerations). If you’re not staying at a Hilton property right now, you aren’t vouchsafed access to the … Continue reading →

Posted in Architecture, CityCenter, Cosmopolitan, Dining, Entertainment, Environment, George Maloof, Harrah's, MGM Mirage, Movies, Planet Hollywood, Steve Wynn, The Strip, Tourism, Transportation | Comments Off on USA Today’s best of the Strip

What the fuQ?; A dubious honor

Posted on September 19, 2012 by David McKee

Word around here is that Caesars Entertainment did an in-house survey on potential re-names of Imperial Palace — soon to become “The Quad” — and promptly dumped the poll results in the nearest wastepaper basket. Se non e ver, e … Continue reading →

Posted in Architecture, Atlantic City, CityCenter, Culinary Union, Current, Detroit, Entertainment, Harrah's, history, International, Macau, Marketing, Maryland, Massachusetts, MGM Mirage, Pansy Ho, Racinos, Steve Wynn, The Strip, Tourism | 3 Comments

Programming note

Posted on September 4, 2012 by David McKee

For reasons unknown (Red Chinese hackers?), Internet access last Thursday and Friday came in three forms: slow, slower and nonexistent. Hence, no S&G for two days. (My outdated Mac at home no longer supports the home page either.) So for … Continue reading →

Posted in Current, Internet gambling, Louisiana, Steve Wynn, Technology, The Strip | 1 Comment

Tilman Fertitta, Indian giver; Meet Charles S. Weinberg

Posted on August 21, 2012 by David McKee

When he took over the Golden Nugget and its Laughlin sibling, Landry’s Restaurants CEO Tilman Fertitta quickly developed a reputation among employees as a skinflint and micromanager. Whether or not the micromanagement has gone by the boards as Fertitta’s Nugget-branded … Continue reading →

Posted in Atlantic City, Cretins, Current, Donald Trump, Regulation, Steve Wynn, Technology, The Mob, Tilman Fertitta | 3 Comments

Adelson sees Wynn, raises him

Posted on August 7, 2012 by David McKee

Since Garth Brooks has been a money-spinner for Wynncore, rival Venelazzo is seeing Steve Wynn one Tim McGraw and raising him one Faith Hill. So there! Sheldon Adelson was (understandably) absent from today’s big announcement, which was the worst-kept secret … Continue reading →

Posted in Current, Entertainment, Marketing, Sheldon Adelson, Steve Wynn, The Strip | Comments Off on Adelson sees Wynn, raises him

The wreck of the Sierra Rose; LVH: The smell of death; TWU (sur)renders unto Caesars

Posted on July 11, 2012 by David McKee

It was inevitable that this Lake Tahoe marine disaster would go viral. Besides, as an S&G reader astutely pointed out, the sinking of the Sierra Rose makes a tidy metaphor for Nevada‘s economy: a top-heavy S.S. McMansion now half-underwater due … Continue reading →

Posted in Atlantic City, Colony Capital, Detroit, Economy, Entertainment, Fontainebleau, Goldman Sachs, Harrah's, Hooters, Lake Tahoe, Riviera, Steve Wynn, The Strip, Wall Street | 3 Comments