Category Archives: Taxes

Louisiana stagnant, Michigan a sports-betting go

Posted on December 20, 2019 by David McKee

An extra weekend day didn’t do bupkis for Louisiana, where November gaming revenues ($205 million) were flat with last year’s. The good news is that Baton Rouge, so troubled a market, was incrementally higher than in 2018. Eldorado Resorts‘ Belle … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, China, Churchill Downs, Detroit, Economy, Eldorado Resorts, GLPI, Indiana, Internet gambling, Louisiana, Macau, Michigan, Movies, New Jersey, Penn National, Pennsylvania, Sexual misconduct, Sports betting, Taxes, Tilman Fertitta, Tribal, Wall Street | Comments Off on Louisiana stagnant, Michigan a sports-betting go

Station faces the music; Atlantic City dissed

Posted on December 16, 2019 by David McKee

Imagine how much of a world of hurt Station Casinos would be in if DJs Marshmello and Skrillex hadn’t quit instead of having their high-priced sinecures ($60 million in Mr. Marshmello’s case) terminated, as happened to Ryan Raddon, aka Kaskade. … Continue reading →

Posted in Atlantic City, Caesars Entertainment, Eldorado Resorts, Entertainment, Hard Rock International, Indiana, Internet gambling, Japan, MGM Resorts International, Mohegan Sun, Ocean Resort, Oklahoma, Palms, Sports betting, Station Casinos, Taxes, Tilman Fertitta, Tribal | 1 Comment

DeSalvio dispatched to Catskills; Stevens thinks big

Posted on December 16, 2019 by David McKee

Former Encore Boston Harbor prexy Robert DeSalvio didn’t have to cool his heels for long. He’s just (the news broke two hours ago) been named president of Genting New York, ousting Ryan Eller. As his title implies, DeSalvio will be … Continue reading →

Posted in Derek Stevens, Detroit, Downtown, Genting, International, Internet gambling, Iowa, Louisiana, Michigan, Movies, New York, Palms, Sports, Sports betting, Station Casinos, Taxes, Wall Street, Warner Gaming | Comments Off on DeSalvio dispatched to Catskills; Stevens thinks big

Atlantic City up in November; Sports betting comes to Michigan

Posted on December 13, 2019 by David McKee

Gross gaming revenues of $224 million in Atlantic City last month represented a 7% gain. Table games (+11%) led the way, followed by slot revenues, up 6%. Table win at Borgata rose 14.5% on 7% more wagering, as the house … Continue reading →

Posted in Atlantic City, Boyd Gaming, Caesars Entertainment, DFS, e-sports, Economy, Eldorado Resorts, Environment, FanDuel, Greenwood Racing, Hard Rock International, Internet gambling, MGM Resorts International, Michigan, Mohegan Sun, New Jersey, Ocean Resort, Penn National, Pennsylvania, Politics, Rush Street Gaming, Sports betting, Taxes, Tilman Fertitta, Tribal | 1 Comment

Mega-Jottings

Posted on December 13, 2019 by David McKee

What do you do when the news is too short to justify a paragraph but too big to be ignored? How about a big-ass session of … Jottings: Mike Brooks and Tim Brooks, owners of the Emerald Isle Casino are … Continue reading →

Posted in Animals, Caesars Entertainment, Dan Lee, Eldorado Resorts, Full House Resorts, GLPI, International, Japan, Kansas, Louisiana, Nevada, Penn National, Scientific Games, South Korea, Spectacle Entertainment, Taxes, Wall Street | Comments Off on Mega-Jottings

Pritzker in denial; Get Mobbed on New Year’s Eve

Posted on December 13, 2019 by David McKee

“This is the voice of delusion,” said an S&G source of Illinois Gov. J.B. Pritzker (D) and his stated optimism of getting a casino in Chicago, an idea that has drawn a cavernous yawn from the gaming industry. He tried … Continue reading →

Posted in Downtown, Entertainment, Illinois, Japan, Kansas, Macau, Marijuana, New Jersey, Sports, Tamares Group, Taxes, The Mob, Transportation, Wynn Resorts | Comments Off on Pritzker in denial; Get Mobbed on New Year’s Eve

Looking for love in Macao; Resorts World LV’s big bet

Posted on December 12, 2019 by David McKee

“All of the juice has been squeezed out of the orange. Macao is starting to resemble more mature competitive markets such as Las Vegas and Atlantic City.” Ouch! That was Bloomberg Intelligence contributing analyst David Bonnet, taking an exceptionally gloomy view … Continue reading →

Posted in Architecture, Atlantic City, Century Casinos, Economy, Genting, Hard Rock International, Japan, Las Vegas Sands, Macau, Missouri, Mohegan Sun, New Jersey, Oklahoma, Philippines, Rush Street Gaming, South Korea, Taxes, The Strip, Transportation, Tribal, Vietnam | 2 Comments

Stitt, tribes going to the wire; California card rooms slammed

Posted on December 11, 2019 by David McKee

Oklahoma Gov. Kevin Stitt (R) is escalating his rhetoric in his war with the Sooner State’s casino tribes. He says they’ll be operating gambling “illegally” starting on New Year’s Day. But his verbal volley wasn’t aimed at tribes so much as … Continue reading →

Posted in California, Downtown, Japan, Law enforcement, Maryland, Money laundering, Oklahoma, Politics, Regulation, Taxes, Tribal | Comments Off on Stitt, tribes going to the wire; California card rooms slammed

Penn a solid bet; New Year’s Eve in Vegas could be better

Posted on December 11, 2019 by David McKee

Penn National Gaming got a rave review from J.P. Morgan gaming analyst Joseph Greff, who wrote that ” we continue to believe PENN offers a favorable risk/reward with an attractive valuation.” Strong fundamentals in the regional-gaming sphere were cited, as … Continue reading →

Posted in Entertainment, Japan, Massachusetts, Missouri, Nevada, Ohio, Penn National, Pinnacle Entertainment, Regulation, Sexual misconduct, Sports betting, Steve Wynn, Taxes, The Strip, Wall Street, Wynn Resorts | 2 Comments

Wynn writes $20M check; Japan wants your winnings

Posted on December 3, 2019 by David McKee

Settlement of a shareholder lawsuit against Wynn Resorts will be covered in large part by Steve Wynn himself, paying $20 million, with insurers chipping in $21 million. The suit accused the Wynn Resorts board of directors of complicity in Steve … Continue reading →

Posted in China, Economy, Environment, Japan, Macau, Problem gambling, Sexual misconduct, Steve Wynn, Taxes, Wynn Resorts | Comments Off on Wynn writes $20M check; Japan wants your winnings

Norment’s Torment; New hope for Cal-Neva

Posted on December 2, 2019 by David McKee

Virginia state Sen. Tommy Norment (R) hasn’t been paying attention to the performance of MGM National Harbor. Placing a resort casino in northern Virginia would be, he says, “complete folly.” Instead, Old Virginny will have to put its hopes on … Continue reading →

Posted in Caesars Entertainment, Canada, Dubai, Economy, history, Horseracing, International, Lake Tahoe, Law enforcement, Lotteries, Maryland, MGM Resorts International, Money laundering, New York, Ohio, Politics, Problem gambling, Resort fees, Sports, Sports betting, Taxes, The Strip, Tilman Fertitta, Transportation, Tribal, Virginia | 1 Comment

Small thinking big in Oklahoma; Smoke gets in their lungs

Posted on November 27, 2019 by David McKee

In Oklahoma, Council of Public Affairs President Jonathan Small went to the mat for Gov. Kevin Stitt (R), backing Stitt’s demand for higher—much higher—exclusivity fees. To his credit, Stitt has put sports betting on the table as an incentive. Small … Continue reading →

Posted in California, Connecticut, Environment, Florida, Hard Rock International, Las Vegas Sands, Nevada, Oklahoma, Palms, Problem gambling, Sports betting, Taxes, Technology, Tribal, Virginia | Comments Off on Small thinking big in Oklahoma; Smoke gets in their lungs

Tax-and-spend fantasy in Illinois; Encore Boston nickels and dimes its patrons

Posted on November 27, 2019 by David McKee

It’s more important to have a money-losing casino (upon which absolutely nobody has bid) in Chicago than to lower the über-confiscatory 72% tax rate. So says state Sen. Dave Syverson (R), a real crank. As Syverson puts it, “The problem with … Continue reading →

Posted in Caesars Entertainment, Galaxy Entertainment, Golden Gaming, Illinois, Japan, Macau, Massachusetts, MGM Resorts International, Resort fees, Sheldon Adelson, Taxes, Terry Caudill, Transportation, Wynn Resorts | Comments Off on Tax-and-spend fantasy in Illinois; Encore Boston nickels and dimes its patrons

Marching through Georgia; Stevens’ grand vision

Posted on November 21, 2019 by David McKee

“Wynn and MGM are going to Atlanta,” said Georgia state Rep. Al Williams (D), trying allay hopes/fears that megaresorts are going to be sprinkled across the Peachtree State. State Rep. Ron Stephens (R) is particularly bullish, projecting six casinos throwing … Continue reading →

Posted in Architecture, Arkansas, China, Derek Stevens, Downtown, e-sports, Environment, G2E, Georgia, International, Internet gambling, Lawrence Ho, Macau, Mandalay Bay Massacre, MGM Resorts International, Oklahoma, Politics, Sports betting, Taxes, The Strip, Tribal | Comments Off on Marching through Georgia; Stevens’ grand vision

Desert Diamond sets debut; Paddock’s grim legacy

Posted on November 20, 2019 by David McKee

Controversial Desert Diamond Casino will finally open on Feb. 19, superseding a “big box” temporary casino on the same site. Pride and joy of the Tohono O’odham Nation, Desert Diamond was the bane of Gov. Doug Doucey‘s existence, as well as … Continue reading →

Posted in Arizona, Canada, Dining, Florida, Internet gambling, Japan, Las Vegas Sands, Lotteries, Mandalay Bay Massacre, New York, Philippines, Problem gambling, Sports betting, Tamares Group, Taxes, The Strip, Tribal, Wall Street, Wynn Resorts | Comments Off on Desert Diamond sets debut; Paddock’s grim legacy

What if they gave a casino and nobody came?

Posted on November 19, 2019 by David McKee

That’s what’s happening in Chicago, where nobody—and I mean nobody—is showing any interest in a new casino license. Gee, do you think it could have something to do with the 72% tax rate which effectively ensures that a Windy City … Continue reading →

Posted in Alex Meruelo, Illinois, Macau, Politics, Sahara, Sam Nazarian, Scientific Games, Security, Taxes, Technology | 2 Comments

Going for the gold in California; Vegas tops sin survey

Posted on November 18, 2019 by David McKee

It’s not quite as pre-apocalyptic as dogs and cats living together but California Native American tribes are joining with private-sector racetracks to push for sports betting in the Golden State, surely the ripest market in the U.S. The coalition wants … Continue reading →

Posted in Atlantic City, Caesars Entertainment, California, Donald Trump, Eldorado Resorts, Election, Entertainment, history, Illinois, Japan, Louisiana, Regulation, Sports betting, Steve Wynn, Taxes, The Strip, Tribal | 1 Comment

Big bounce at IGT; Cosmo revises restaurant lineup

Posted on November 15, 2019 by David McKee

“What’s 23% Between Friends?” So asked Credit Suisse analyst Ben Combes as he reported on International Game Technology‘s 3Q19 earnings call. IGT’s $407 million in cash flow exceeded consensus Wall Street expectations by 3%. IGT stock vaulted 23% on the … Continue reading →

Posted in Caesars Entertainment, Cosmopolitan, Delaware, Detroit, Dining, Entertainment, Genting, history, IGT, Indiana, International, Las Vegas Raiders, Lotteries, M Resort, MGM Resorts International, Missouri, New York, Penn National, Sports betting, Taxes, The Strip, TV, Wall Street | Comments Off on Big bounce at IGT; Cosmo revises restaurant lineup

Second thoughts on Japan; Seneca smackdown

Posted on November 14, 2019 by David McKee

Is it possible that Japan is too rich for the casino industry’s blood? Las Vegas Sands President Rob Goldstein recently pegged the cost of a Japanese megaresort at $12 billion, while Fitch Ratings thinks it will be closer to $15 … Continue reading →

Posted in China, Galaxy Entertainment, Genting, International, Japan, Las Vegas Sands, Macau, MGM Resorts International, New York, Taxes, Transportation, Tribal, Wall Street | Comments Off on Second thoughts on Japan; Seneca smackdown

Smoke gets in Boston’s eyes; Penn receives important award

Posted on November 14, 2019 by David McKee

Shuttles for Encore Boston Harbor are stirring up some local ire, due to the fumes they generate while idling at the Wellington MBTA Station curb. This has generated the threat of a lawsuit from the Conservation Law Foundation. It’s not just … Continue reading →

Posted in Atlantic City, Churchill Downs, Cosmopolitan, Derek Stevens, Downtown, Encore, Entertainment, Illinois, Japan, Massachusetts, Movies, Penn National, Rush Street Gaming, Sheldon Adelson, Sports, Sports betting, Taxes, Technology, Terry Caudill, The Mob, Transportation, Wynn Resorts | Comments Off on Smoke gets in Boston’s eyes; Penn receives important award