Category Archives: Taxes

Scott, Seminoles make a deal; Reid does Caesars’ bidding

Posted on December 8, 2015 by David McKee

Just things were threatening to get ugly between the Seminole Tribe and the State of Florida, Gov. Rick Scott (R) has emerged from the cone of silence to disclose a new, $3 billion revenue-sharing agreement with the Seminoles. The pact, … Continue reading →

Posted in Genting, Harrah's, Harry Reid, Internet gambling, Politics, Regulation, Seminole Tribe, Taxes, Tribal | Comments Off on Scott, Seminoles make a deal; Reid does Caesars’ bidding

Quote of the Day

Posted on December 3, 2015 by David McKee

“Nevada, deep down inside, would like to have it and regulate it. It’s another profit center … If it were put into play and if it was regulated by Nevada, that’s going to be another way to get millennials into the … Continue reading →

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

Penn charms Wall Street

Posted on December 3, 2015 by David McKee

JP Morgan analyst Joseph Greff recently sat down with Penn National Gaming COO Jay Snowden and, of course, the big topic of conversation was Plainridge Park. Penn doesn’t see Wynn Everett — when it opens in 2018 — as a … Continue reading →

Posted in California, Economy, Illinois, M Resort, Marketing, Maryland, Massachusetts, MGM Mirage, Missouri, Penn National, Pennsylvania, Racinos, Rhode Island, Slot routes, Sports, Steve Wynn, Taxes, The Strip, Tribal, West Virginia | 1 Comment

Runaway costs in Springfield; Lucky Dragon not so lucky

Posted on November 20, 2015 by David McKee

MGM Springfield is turning into the worst of both worlds. Not only has the ‘wow’ factor been subtracted (“really the least interesting part of our project,” one exec contended), with the result that the casino-hotel looks more like a bank … Continue reading →

Posted in Architecture, California, Culinary Union, Downtown, Entertainment, Lucky Dragon, Massachusetts, MGM Mirage, Regulation, Taxes, Transportation | Comments Off on Runaway costs in Springfield; Lucky Dragon not so lucky

Caesars gets nuked; Jerry Brown gets spanked

Posted on November 18, 2015 by David McKee

“It’s the ultimate nuclear option to try to go after debtors’ counsel.” That’s what Seton Hall University boffin Stephen Lubben says of junior bondholders’ latest ploy in their knock-down, drag-out fight with Caesars Entertainment. They’re accusing law firm Kirkland & … Continue reading →

Posted in California, Harrah's, International, Taxes, Tribal, Wall Street | Comments Off on Caesars gets nuked; Jerry Brown gets spanked

Up and down the Strip

Posted on November 17, 2015 by David McKee

SLS Las Vegas is finally doing better, if by “doing better” you mean losing only $39 million in a full 3Q15 as opposed to the $46 million lost in the truncated (five-week) 3Q14. Stockbridge Capital Partners continues to have to … Continue reading →

Posted in Architecture, Cosmopolitan, Derek Stevens, Downtown, Economy, Fontainebleau, Genting, Harrah's, James Packer, Lucky Dragon, LVCVA, Marketing, MGM Mirage, Riviera, Sam Nazarian, Sheldon Adelson, SLS Las Vegas, Tamares Group, Taxes, The Strip, Wall Street | 2 Comments

The benefits of casino gambling make themselves felt

Posted on November 16, 2015 by David McKee

Minimum wages are a contentious issue on the campaign trail but a settled one at $450 million Stadium Casino. The in-progress Philadelphia gambling hall has committed to a $12/hour minimum wage for its construction and permanent personnel alike. That’s one … Continue reading →

Posted in Atlantic City, Charity, Cordish Co., Economy, Greenwood Racing, Internet gambling, Pennsylvania, Rhode Island, Taxes, Technology, Trump Entertainment Resorts | Comments Off on The benefits of casino gambling make themselves felt

Caesars exiting Ohio with head held high; New Showboat setback

Posted on November 9, 2015 by David McKee

Caesars Entertainment may have gotten the boot from its three managerial arrangements with Dan Gilbert in Ohio but it’s spending the waning weeks of its tenure putting up impressive numbers. Horseshoe Cleveland ($18 million) was up 4% and Horseshoe Cincinnati … Continue reading →

Posted in Atlantic City, Dan Gilbert, Detroit, Eldorado Resorts, Glenn Straub, Harrah's, Marketing, Penn National, Pinnacle Entertainment, Politics, Racinos, Taxes | Comments Off on Caesars exiting Ohio with head held high; New Showboat setback

New blows to Adelson, SLS; Seminoles’ air war

Posted on November 6, 2015 by David McKee

Ex-Sands China CEO Steven Jacobs‘ wrongful-termination case will still proceed under the gavel of Judge Elizabeth Gonzalez. The Nevada Supreme Court, in an unpublished opinion, reaffirmed Gonzalez’s standing in the case and also ordered Las Vegas Sands to pony up … Continue reading →

Posted in Florida, Indiana, Internet gambling, Macau, Politics, Regulation, Sam Nazarian, Seminole Tribe, Sheldon Adelson, SLS Las Vegas, Taxes, The Strip, TV | Comments Off on New blows to Adelson, SLS; Seminoles’ air war

Georgia on their minds; DFS regulation gathers speed

Posted on November 4, 2015 by David McKee

There’s a new suitor in the crowd of casino companies eager to extend their brands into Georgia: the Seminole Tribe. It wants to build a Hard Rock International casino in 2018, opposite Mercedes-Benz Stadium, where the Atlanta Falcons will play. Hard … Continue reading →

Posted in Atlantic City, Boyd Gaming, Georgia, Hard Rock International, Illinois, Internet gambling, Minnesota, New York, Problem gambling, Regulation, Seminole Tribe, Taxes | Comments Off on Georgia on their minds; DFS regulation gathers speed

Straub has new plan for Revel; Station cans Cactus Lane casino

Posted on November 4, 2015 by David McKee

Glenn Straub can’t even heat Revel but he’s got his sights on becoming Atlantic City‘s biggest slumlord. The ever-unpredictable billionaire’s latest plan for the megaresort is to use it to house Syrian refugees. However, this homeless-hostel offer is good for … Continue reading →

Posted in Atlantic City, Glenn Straub, Internet gambling, Michael Gaughan, Regulation, Reno, Revel, Sports, Station Casinos, Taxes, The Strip, Westgate LV | Comments Off on Straub has new plan for Revel; Station cans Cactus Lane casino

The (Nathan) Deal they can’t refuse; Decision time in Connecticut

Posted on November 3, 2015 by David McKee

Casino companies like to complain about high taxation … unless they’re trying to get into a jurisdiction, in which case they’ll agree to anything. In Georgia, they’ve upped the ante from a proposed 12% tax rate to 20%. It’s not … Continue reading →

Posted in Foxwoods, Georgia, Massachusetts, Mesquite, MGM Mirage, Mohegan Sun, Politics, Sheldon Adelson, Taxes, Tribal, Uncategorized | 2 Comments

Harrah’s auction scrapped; Airport casino nixed

Posted on October 28, 2015 by David McKee

Almost nobody wants the defunct remnants of Harrah’s Tunica Casino. Owner Caesars Entertainment has scratched a planned auction of the property because nobody except stalking horse TJM Properties has shown an interest in the building. TJM specializes in senior-living facilities. … Continue reading →

Posted in Florida, Foxwoods, Harrah's, Marketing, Mississippi, Mohegan Sun, Politics, Scientific Games, Seminole Tribe, Taxes, Tribal | Comments Off on Harrah’s auction scrapped; Airport casino nixed

Seminole resolution in sight?; Murren called on the carpet

Posted on October 27, 2015 by David McKee

Florida‘s Seminole Tribe is pursuing a two-track policy in the court of public opinion. On the one hand, it has announced “significant progress” in its talks with lawmakers and Gov. Rick Scott (R, left). On the other hand, it is … Continue reading →

Posted in Florida, Massachusetts, MGM Mirage, Mississippi, Pennsylvania, Politics, Racinos, Seminole Tribe, Taxes, Transportation, Tribal | Comments Off on Seminole resolution in sight?; Murren called on the carpet

Quote of the Day

Posted on October 26, 2015 by David McKee

“The [casino] bubble burst a long time ago. Now it’s just day-to-day business. We have to be looking at trends, interests and how people are spending ancillary dollars. If mudbogging becomes really popular, then we’ll have to make a mud hole.” … Continue reading →

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

Pennsylvania edges toward ‘Net bets; The forbidden dance

Posted on October 20, 2015 by David McKee

There’s nothing like a budget crisis and a partial government shutdown to focus lawmakers’ minds on gaming expansion. That’s the case in Pennsylvania, where House Majority Leader Dave Reed (R, right) says, “We need to come to a conclusion on liquor … Continue reading →

Posted in Election, Idaho, Pennsylvania, Politics, Regulation, Sheldon Adelson, Taxes, Tribal | 1 Comment

Quote of the Day

Posted on October 16, 2015 by David McKee

“When you legalize a form of gambling, the state looks around, finds out what the highest rate is in the country, and then goes higher.” gaming-law expert I. Nelson Rose on what the daily fantasy sports industry should be prepared to … Continue reading →

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Gambling junkies in Illinois; New thinking in China

Posted on September 28, 2015 by David McKee

Despite having added slot routes to the state’s gambling repertory, gaming-tax revenues are down 6% in Illinois. This occurred despite the continuing addition of slot routes. However, some gambling-tax junkies continue to deny the obvious proof of a saturated market. “I’m … Continue reading →

Posted in Architecture, Environment, Illinois, Politics, Racinos, Slot routes, Taxes, Tourism | Comments Off on Gambling junkies in Illinois; New thinking in China

Problem gambling’s poster girl; Smoke gets in Macao’s eyes

Posted on September 25, 2015 by David McKee

Meet Dianna Duran, secretary of state for New Mexico and, as of this week, America’s most prominent gambling addict. She’s been hit with a 64-count corruption indictment for, among other things, alleged money laundering and embezzlement. Duran is accused of … Continue reading →

Posted in Economy, Environment, Galaxy Entertainment, Macau, Problem gambling, Taxes, Tribal | Comments Off on Problem gambling’s poster girl; Smoke gets in Macao’s eyes

Boston offers Wynn olive branch; MGM played for a sucker in Springfield?

Posted on September 25, 2015 by David McKee

Could the war of words between Steve Wynn and Boston Mayor Martin “McCheese” Walsh soon be coming to an end? Wynn, who last month declared himself finished with an “obviously irresponsible” Walsh, had a phone chat with McCheese to discuss … Continue reading →

Posted in Election, Foxwoods, LVCVA, Massachusetts, MGM Mirage, Mohegan Sun, Regulation, Steve Wynn, Taxes, The Strip, Transportation | Comments Off on Boston offers Wynn olive branch; MGM played for a sucker in Springfield?