Category Archives: Taxes

Vietnam War logic in New Jersey; Tribal corruption in Florida

Posted on March 8, 2016 by David McKee

New Jersey will no longer have the distinction of possessing the second-lowest casino tax rate if Assemblyman Ralph Caputo (D, left) gets his way. He’s talking about imposing at least a 40% levy on proposed north New Jersey casinos, perhaps … Continue reading →

Posted in Atlantic City, Carl Icahn, Florida, Hard Rock International, Horseracing, International, Mississippi, New York, Politics, Regulation, Taxes, Tribal, Tropicana Entertainment | Comments Off on Vietnam War logic in New Jersey; Tribal corruption in Florida

Quote of the Day

Posted on March 2, 2016 by David McKee

“I’m supportive of both those ventures, but I’m absolutely opposed [to] … any attempt to rob the Las Vegas Convention Center of its desperately needed cash to build anything — whether it’s a stadium, or a launching pad to the … Continue reading →

Posted in LVCVA, MGM Mirage, Taxes, The Strip | Comments Off on Quote of the Day

DFS advances in some markets, retreats in others; Caesars rubs your nose in it

Posted on March 2, 2016 by David McKee

Daily fantasy sports, the loud frat brother of sports betting, is close to a signal victory in Virginia. Both houses of the Virginia Assembly have passed DFS legalization with veto-proof majorities and sent the legislation to Gov. Terry McAuliffe (D). … Continue reading →

Posted in Harrah's, Indiana, Internet gambling, Kansas, Penn National, Phil Ruffin, Planet Hollywood, Politics, Racinos, Regulation, Sports, Taxes, The Strip, Tourism | Comments Off on DFS advances in some markets, retreats in others; Caesars rubs your nose in it

Scarlet Pearl a hit; Adelson plays for time

Posted on February 22, 2016 by David McKee

Gulf Coast casino revenues grew 15% last month, topping the $100 million mark for the first time in eight years. Newbie Scarlet Pearl Casino is getting the credit for growing the market in such a dramatic fashion. Despite a decline … Continue reading →

Posted in Economy, Macau, Mississippi, New York, Sheldon Adelson, Taxes, Tribal | Comments Off on Scarlet Pearl a hit; Adelson plays for time

Wall Street loves it some Boyd; Wolf at the door

Posted on February 17, 2016 by David McKee

Boyd Gaming came out with its figures for 4Q15 and Wall Street is fairly singing the company’s praises. “We believe that BYD’s diversified, domestic regional gaming portfolio should continue to benefit from continued U.S. jobs growth and lower gas prices. … Continue reading →

Posted in Atlantic City, Boyd Gaming, Downtown, Greenwood Racing, Hawaii, Internet gambling, Iowa, Kansas, Louisiana, Mohegan Sun, Pennsylvania, PokerStars, Sheldon Adelson, Taxes, Technology, Transportation, Wall Street | Comments Off on Wall Street loves it some Boyd; Wolf at the door

It’s a new day at the Cosmo; Atlantic City’s fate in Borgata’s hands

Posted on February 8, 2016 by David McKee

“The bottom line is you have a casino. Instead of downplaying that, let’s celebrate it.” That’s Cosmopolitan of Las Vegas CEO Bill McBeath outlining the besetting sin of his predecessors, ignoring the central role of gambling as the Cosmo’s revenue … Continue reading →

Posted in Atlantic City, Boyd Gaming, Cosmopolitan, Entertainment, Illinois, Marketing, MGM Mirage, Regulation, Slot routes, Taxes, The Strip, Wall Street | Comments Off on It’s a new day at the Cosmo; Atlantic City’s fate in Borgata’s hands

Delaware racinos seek relief; Abrupt change at Downtown Grand

Posted on February 4, 2016 by David McKee

If a casino is losing money, does that qualify it for state relief? That’s the philosophical question in Delaware, where Dover Downs is pursuing a public bailout. A bill by state Sen. Brian Bushweller (D) would waive table-game franchise fees … Continue reading →

Posted in Delaware, Downtown, Harrah's, Politics, Racinos, Taxes, Tribal | Comments Off on Delaware racinos seek relief; Abrupt change at Downtown Grand

Wynn, Walsh make peace; Borgata ups the ante

Posted on January 28, 2016 by David McKee

In the end, it was all about the money. In return for an extra $400,000 per year for the next 15 years, plus reimbursement of $750,000 in legal fees, Boston Mayor Martin Walsh dropped his efforts to block Wynn Everett. “We fought … Continue reading →

Posted in Architecture, Atlantic City, Boyd Gaming, Lucky Dragon, Massachusetts, MGM Mirage, Station Casinos, Steve Wynn, Taxes, The Strip, Wall Street | Comments Off on Wynn, Walsh make peace; Borgata ups the ante

Christie’s bum rap; New partner for Packer?; Casino chicanery in Maine

Posted on January 26, 2016 by David McKee

“The people involved in this, if you took a thimble and put their knowledge of Atlantic City in it, it wouldn’t fill it,” says Thomas Carver, former policy czar for the resort town, who lost his job when he displeased … Continue reading →

Posted in Atlantic City, Australia, Cosmopolitan, Economy, Election, Internet gambling, James Packer, Maine, Melco Crown Entertainment, New Hampshire, Penn National, Politics, Racinos, Revel, Taxes, The Strip | Comments Off on Christie’s bum rap; New partner for Packer?; Casino chicanery in Maine

Case Bets

Posted on January 25, 2016 by David McKee

Casinos: They’re not just for French resorts anymore. Marseille Mayor Jean-Claude Gaudin is plumping for a casino in his city, which is badly afflicted by poverty. He seems to be right on the curve, as far as a casino injection … Continue reading →

Posted in Economy, International, Internet gambling, Isle of Capri, Mississippi, New York, Taxes, Tilman Fertitta, TV | Comments Off on Case Bets

Big win for Icahn; Boffo year for Pennsylvania

Posted on January 19, 2016 by David McKee

No further obstacles should remain to a Carl Icahn takeover of ailing Trump Taj Mahal after an appeals court found in favor of wage- and health-care rollbacks at the Atlantic City casino. Unite-Here Local 54 and the workers it represents … Continue reading →

Posted in Atlantic City, Carl Icahn, Cordish Co., International, Internet gambling, Nevada, Pennsylvania, Regulation, Sheldon Adelson, Taxes, Trump Entertainment Resorts, Unite-Here | Comments Off on Big win for Icahn; Boffo year for Pennsylvania

Atlantic City under siege; Detroit casinos deliver

Posted on January 14, 2016 by David McKee

New Jersey state Senate President Stephen Sweeney (D) hasn’t been elected governor yet but he’s behaving as though he were the Garden State’s chief executive. He’s the driving force behind a suddenly urgent move to exert state control over Atlantic City. … Continue reading →

Posted in Atlantic City, Dan Gilbert, Detroit, Economy, Entertainment, Georgia, Hard Rock Hotel, MGM Mirage, Politics, Revel, Taxes | Comments Off on Atlantic City under siege; Detroit casinos deliver

Atlantic City: Sweeney wins … or does he?

Posted on January 12, 2016 by David McKee

In the end, New Jersey‘s two houses of the Legislature came together on casino expansion and we have to say that Assembly Speaker Vincent Prieto (D) blinked first, from where we sit. (In the peanut gallery, natch.) But was state … Continue reading →

Posted in Atlantic City, Carl Icahn, Fontainebleau, Glenn Straub, Hard Rock International, Harrah's, MGM Mirage, New York, Politics, Sheldon Adelson, Steve Wynn, Taxes, Tilman Fertitta, Trump Entertainment Resorts | 2 Comments

Quote of the Day

Posted on January 11, 2016 by David McKee

“Maharashtra is the den of illegal gambling. If the taxation on gaming is legalised, it could earn good revenue for State.” — attorney Jay Sayata on the activation of a 40-year-old law which could legitimize casinos in Goa and Sikkim. … Continue reading →

Posted in International, Regulation, Taxes | Comments Off on Quote of the Day

New York blesses three casinos; Sinatra hangout resurrected

Posted on December 23, 2015 by David McKee

Not a discouraging word was to be heard as the New York State Gaming Commission unanimously approved licenses for three casinos in various upstate market. (Tioga Downs‘ turn comes later, as it was delayed entrant to the process.) This removes … Continue reading →

Posted in Architecture, Genting, history, Lake Tahoe, Neil Bluhm, New York, Regulation, Taxes | 1 Comment

Reid delivers for REITs; Packer calls it quits

Posted on December 22, 2015 by David McKee

Sen. Harry Reid (D) may not see as well as he used to, but he’s still got plenty of ‘juice’ on Capitol Hill. He delivered an early Christmas present for campaign donor (and Caesars Entertainment co-owner) David Bonderman, in the … Continue reading →

Posted in Atlantic City, Australia, Boyd Gaming, Hard Rock International, Harrah's, Harry Reid, James Packer, MGM Mirage, Politics, Taxes, The Strip | Comments Off on Reid delivers for REITs; Packer calls it quits

Gaming expansion in Garden State moving fast; Mashpee Wampanoags challenged

Posted on December 18, 2015 by David McKee

New Jersey lawmakers are wasting no time getting a casino-expansion question onto next year’s election ballot. Enabling legislation fairly shot out of committee in both houses of the Lege. The Assembly version would devote 33% of tax revenue from two gambling … Continue reading →

Posted in Arizona, Atlantic City, Genting, Indiana, Internet gambling, Massachusetts, MGM Mirage, Neil Bluhm, Pennsylvania, Politics, Regulation, Taxes, Tribal | Comments Off on Gaming expansion in Garden State moving fast; Mashpee Wampanoags challenged

Adelson’s new toy; MGM: ‘Zarkana’ out, architectural innovation in

Posted on December 17, 2015 by David McKee

Las Vegas‘ worst-kept secret is out: Sheldon Adelson is the new owner of the Las Vegas Review-Journal. He’s claiming that the clumsy subterfuge was needed so as not to “distract from the important role Nevada continues to play in the … Continue reading →

Posted in Architecture, Cirque du Soleil, CityCenter, Election, Harrah's, Harry Reid, MGM Mirage, Politics, Sheldon Adelson, Taxes, The Strip | 4 Comments

‘Jubilee’ axed; DFS banned and reprieved

Posted on December 14, 2015 by David McKee

It was probably a mercy to Ffolliott “Fluff” LeCoque that the Las Vegas showbiz legend died two days before Caesars Entertainment buried a dagger in the heart of Jubilee. LeCoque had been part of the original cast and went on to … Continue reading →

Posted in Entertainment, Florida, Hard Rock International, Harrah's, history, Horseracing, Internet gambling, Law enforcement, New York, Politics, Racinos, Regulation, Seminole Tribe, Taxes, The Strip, Tribal | 1 Comment

Racinos under siege in Texas; Seminole compact no sure bet

Posted on December 9, 2015 by David McKee

Texas Gov. Greg Abbott (R) wanted the Texas Racing Commission to repeal its approval of ‘historical racing’ at Lone Star State tracks. Rather than put it on the agenda, commission Chairman Robert Schmidt handed in his gavel, exchanging the chairmanship … Continue reading →

Posted in Florida, Hard Rock International, Horseracing, Massachusetts, Penn National, Politics, Racinos, Seminole Tribe, Taxes, Technology, Texas, Tribal | Comments Off on Racinos under siege in Texas; Seminole compact no sure bet