Category Archives: Taxes

Glenn Straub, gaming’s problem child; Panic in New York State

Posted on June 28, 2017 by David McKee

“We’ve been shut down now for three years. As an abandoned building, we want the value of an abandoned building, not the value of a casino hotel,” said Revel owner Glenn Straub, defending his failure to pay Casino Reinvestment Development … Continue reading →

Posted in Architecture, Atlantic City, Boulder Strip, Foxwoods, GameCO, Glenn Straub, history, Marketing, New York, Planet Hollywood, Politics, Racinos, Regulation, Revel, Station Casinos, Taxes, Technology, Tourism, Tribal | Comments Off on Glenn Straub, gaming’s problem child; Panic in New York State

Eyeball-to-eyeball in Pennsylvania; The tomato cans cometh

Posted on June 26, 2017 by David McKee

Pennsylvania‘s i-gaming legislation could fall apart, as New York State’s shamefully did (Gary Pretlow should change his name to Mr. Useless) but both houses are presently trying to find a satisfactory middle ground. Slot routes stick in the craw of … Continue reading →

Posted in Horseracing, Internet gambling, Massachusetts, New York, Pennsylvania, Philippines, Politics, Regulation, Slot routes, Sports, Taxes, The Strip, Tribal | Comments Off on Eyeball-to-eyeball in Pennsylvania; The tomato cans cometh

Wynn: Up in smoke; Mohegan by any other name

Posted on June 16, 2017 by David McKee

Wynn Resorts is pursuing a no-tolerance policy toward high-rolling customers associated with corporate cannabis. “I can confirm that I was permanently banned from gambling at Wynn Resorts on June 7, 2017 due to my role as Chairman and CEO of … Continue reading →

Posted in Atlantic City, Boyd Gaming, Donald Trump, Downtown, GLPI, Hard Rock International, Law enforcement, Mohegan Sun, Penn National, Pennsylvania, Regulation, Seminole Tribe, South Korea, Steve Wynn, Tamares Group, Taxes, The Strip, Tribal, Vietnam | 1 Comment

Adelson fights for dirty power; Hard Rock on the move

Posted on June 15, 2017 by David McKee

Fossil fuel-loving fossil Sheldon Adelson is putting heavy pressure on Nevada Gov. Brian Sandoval (R) to veto a bill that would increase the production of renewable energy in the Silver State. And when Adelson says “Jump!”, Sandoval asks “How high?” … Continue reading →

Posted in Environment, Florida, Hard Rock International, International, Internet gambling, MGM Mirage, Ohio, Politics, Regulation, Sheldon Adelson, Taxes | Comments Off on Adelson fights for dirty power; Hard Rock on the move

Bonacic: Let’s make a deal; Freeman makes sports-betting case

Posted on June 14, 2017 by David McKee

You could soon be able to play Internet poker in New York State — by going to a casino. That’s the compromise proposed by Senate Racing, Wagering & Gaming Committee Chairman John Bonacic (R). Only casinos and racinos would be eligible to … Continue reading →

Posted in Economy, Genting, Geoff Freeman, Internet gambling, Lawrence Ho, Massachusetts, New York, Philippines, Politics, Regulation, Sports, Taxes | Comments Off on Bonacic: Let’s make a deal; Freeman makes sports-betting case

Stratosphere: From Goldman to Golden; Christmas tree for gamers in Pennsylvania

Posted on June 12, 2017 by David McKee

Goldman Sachs has had enough of the casino business. Either that or the price was right. Whatever the case, Golden Entertainment has just executed the greatest coup of its brief existence. It has purchased Las Vegas icon the Stratosphere. In … Continue reading →

Posted in Baseball, Boulder Strip, Carl Icahn, Foxwoods, Golden Gaming, Goldman Sachs, Internet gambling, Laughlin, MGM Mirage, Mohegan Sun, Pennsylvania, Regulation, Sheldon Adelson, Slot routes, Sports, Taxes, The Strip, Tribal | Comments Off on Stratosphere: From Goldman to Golden; Christmas tree for gamers in Pennsylvania

Pennsylvania bill gives some, takes more; MGM discloses new plans

Posted on June 8, 2017 by David McKee

Pennsylvania‘s House of Representatives has passed a gambling-expansion bill that gives with one hand but takes away more with the other. The bill, which still must pass the state Senate would: legalize DFS, pending a 19% tax and $50,000 licensing … Continue reading →

Posted in CityCenter, Dan Gilbert, GLPI, Hard Rock International, Internet gambling, Macau, MGM Mirage, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Slot routes, Taxes, Wall Street | 1 Comment

MGM, Caesars join forces; A casino in Cuba

Posted on June 7, 2017 by David McKee

There’s intrigue surrounding Atlantic City‘s H-Tract, which separates Borgata from Harrah’s Resort. That’s adjacent to 15 acres of land Caesars Entertainment has never developed. MGM Resorts International, for its part, has acreage which it has tried and failed to sell, … Continue reading →

Posted in Atlantic City, Foxwoods, Hard Rock International, Harrah's, MGM Mirage, Missouri, Mohegan Sun, Regulation, Sheldon Adelson, Singapore, Taxes, The Strip, Tribal | 1 Comment

Galaxy targets Japan; Tribes expand Connecticut demands

Posted on June 2, 2017 by David McKee

“We believe that Japan has a huge opportunity to create something unique that doesn’t just follow the Vegas model seen in many other markets around the world.” With those words, Galaxy Entertainment President Michael Mecca announced that Galaxy was in … Continue reading →

Posted in Downtown, Economy, Foxwoods, Galaxy Entertainment, Illinois, Internet gambling, Japan, Lucky Dragon, Macau, MGM Mirage, Mohegan Sun, Neil Bluhm, Politics, Taxes | Comments Off on Galaxy targets Japan; Tribes expand Connecticut demands

Executive shuffle at Station; Freeman’s bold agenda

Posted on May 25, 2017 by David McKee

Long-serving (some would say long-suffering) Station Casinos CFO Marc Falcone has had enough and will resign on May 31. He’ll still be at Station’s service thanks to a one-year consulting agreement — read “non-compete.” He’s served Station well, coming aboard … Continue reading →

Posted in Atlantic City, Donald Trump, Geoff Freeman, Hard Rock International, Law enforcement, Palms, Politics, Regulation, Revel, Sports, Station Casinos, Taxes, Wall Street | Comments Off on Executive shuffle at Station; Freeman’s bold agenda

Malloy: Stay the course; Wynncore automates

Posted on May 24, 2017 by David McKee

Although the courts may have the final say in the matter, Connecticut Gov. Dannel Malloy has scotched the idea of an open-bidding process for a third Nutmeg State casino. He would prefer to keep the bird in the hand that … Continue reading →

Posted in Atlantic City, CityCenter, Foxwoods, Marketing, MGM Mirage, Mohegan Sun, New York, Sheldon Adelson, Steve Wynn, Taxes, Technology | 1 Comment

Setback for MGM, advance for Gamblit

Posted on May 18, 2017 by David McKee

In an important win for Mohegan Sun and Foxwoods Resort Casino, the Interior Department said that its position regarding the tribes’ compact with the State of Connecticut remains unchanged. To wit: A third, offsite casino won’t breach the tribes’ obligation … Continue reading →

Posted in Foxwoods, Harrah's, MGM Mirage, Mohegan Sun, Politics, Taxes, Technology, The Strip, Wall Street | Comments Off on Setback for MGM, advance for Gamblit

Quote of the Day

Posted on May 18, 2017 by David McKee

“We fully understand the central government’s concerns regarding capital flight. If it is perceived that money is being washed through Macao, it might lead to the tightening of visa restrictions. We need to clearly demonstrate to the central government that … Continue reading →

Posted in Galaxy Entertainment, Law enforcement, Macau, Regulation, Taxes | Comments Off on Quote of the Day

Borgata keeps Atlantic City afloat; No slots for Wichita

Posted on May 15, 2017 by David McKee

Atlantic City had a bit of adversity in April, down 3.5%. However, when last year’s Trump Taj Mahal grosses are removed from the comparison, the Boardwalk was up 4%. Market leader, by an astonishing margin, was Borgata, garnering $58.5 million, … Continue reading →

Posted in Atlantic City, Boyd Gaming, Harrah's, Indiana, Japan, Kansas, Majestic Star, MGM Mirage, Mohegan Sun, Pinnacle Entertainment, Politics, Problem gambling, Racinos, Taxes, Technology, Tilman Fertitta, Tropicana Entertainment | Comments Off on Borgata keeps Atlantic City afloat; No slots for Wichita

Higher taxes mooted for Atlantic City; Trump into Philippines?

Posted on May 10, 2017 by David McKee

Someone has belatedly noticed that Atlantic City is, in essence, a tax haven for casino operators. They pay 9.25%, compared to Pennsylvania‘s 55% on slots, for instance, or Maryland‘s patchwork of tax rates, which top out at 60%. That’s not … Continue reading →

Posted in Atlantic City, Donald Trump, GLPI, Harrah's, Lake Tahoe, Law enforcement, Lawrence Ho, Macau, Maryland, Melco Crown Entertainment, Missouri, New York, Penn National, Pennsylvania, Pinnacle Entertainment, Taxes, Technology | Comments Off on Higher taxes mooted for Atlantic City; Trump into Philippines?

Quote of the Day

Posted on May 1, 2017 by David McKee

“We are trying to knock down some sort of silly notion that you could have tax parity between iGaming and the slot machines and that it could be a successful industry and we’re trying to convince them that if they … Continue reading →

Posted in Internet gambling, Penn National, Pennsylvania, Taxes | Comments Off on Quote of the Day

Paradise Park approved; Sweeping compromise in Florida

Posted on April 28, 2017 by David McKee

Wynn Paradise Park is finally a “go,” the Wynn Resorts board having given a downsized version of the resort its blessing, Construction of the 20-acre lagoon and accompanying convention center may begin before the year is out, perhaps as early … Continue reading →

Posted in Florida, Genting, Illinois, Internet gambling, Kansas, Macau, Pennsylvania, Politics, Problem gambling, Racinos, Regulation, Seminole Tribe, Sheldon Adelson, Steve Wynn, Taxes, The Strip, Tribal | 1 Comment

Conservatives diss Adelson; Penn loses court battle

Posted on April 21, 2017 by David McKee

If Attorney General Jeff Sessions goes ahead with a ban on Internet gambling, he could be in for a world of hurt. Never mind the states with online casinos. He’d be messing with the states that have online lotteries, a … Continue reading →

Posted in Charity, Donald Trump, Florida, Genting, Internet gambling, Iowa, Penn National, Pennsylvania, Politics, Regulation, Sheldon Adelson, Taxes | 1 Comment

Big bounce in Louisiana; Poker and booze go better together

Posted on April 19, 2017 by David McKee

Compared with a flood-plagued March of 2015, business was booming  at Louisiana casinos, up 10%, especially Baton Rouge (+20.5%), although New Orleans was flat. JP Morgan analyst Joseph Greff is predicting less salubrious results in April, blaming the Easter Bunny, among … Continue reading →

Posted in Boyd Gaming, Churchill Downs, Economy, Eldorado Resorts, Foxwoods, Genting, GLPI, Harrah's, IGT, Internet gambling, Isle of Capri, Louisiana, Massachusetts, MGM Mirage, Mohegan Sun, Pinnacle Entertainment, Politics, Regulation, South Korea, Taxes, Tilman Fertitta, Tourism, Tribal, Tropicana Entertainment, Wall Street | Comments Off on Big bounce in Louisiana; Poker and booze go better together

Surveying Indian Country

Posted on April 13, 2017 by David McKee

In Massachusetts, the disputed Aquinnah Wampanoag casino is “on” again, following a federal appeals court’s reversal of a lower court ruling that nixed the project. The appellate court found that, in the words of The Associated Press, “the Aquinnah Wampanoag … Continue reading →

Posted in Florida, Foxwoods, Hard Rock International, Maryland, Mohegan Sun, Politics, Seminole Tribe, Taxes, Tribal | Comments Off on Surveying Indian Country