Category Archives: Taxes

The mystery of Steve Wynn; DFS steps in it

Posted on September 24, 2015 by David McKee

For the third time, Steve Wynn has pulled back from Atlantic City. This time he’s yanking Wynn Interactive‘s application for an online casino. The move comes an awfully long time after Wynn announced his opposition to Internet wagering, so who knows … Continue reading →

Posted in Atlantic City, Culinary Union, Election, Genting, Geoff Freeman, Harrah's, International, Internet gambling, New York, Oklahoma, PokerStars, Regulation, Sheldon Adelson, Sports, Steve Wynn, Taxes, Tribal | 1 Comment

A lesson from Ohio; Murren goes to Georgia; Big changes at Sands

Posted on September 16, 2015 by David McKee

Two years ago, Ohio was grappling with what J.P. Morgan analysts called “a sluggish ramp” for its casino industry. He may have been against casinos before he was for them but Gov. John Kasich‘s supersized version of predecessor Ted Strickland‘s … Continue reading →

Posted in CityCenter, Economy, Election, Foxwoods, Galaxy Entertainment, Geoff Freeman, Georgia, Harrah's, Horseracing, Isle of Capri, M Resort, Macau, Massachusetts, MGM Mirage, Midnight Jim Gibbons, Mohegan Sun, Ohio, Penn National, Politics, Problem gambling, Regulation, Sheldon Adelson, Steve Wynn, Taxes, The Strip, Wall Street | Comments Off

Savior for Showboat?; Steve Wynn to build locals casino

Posted on September 16, 2015 by David McKee

Bart Blatstein has emerged as the potential savior for the Showboat, currently a millstone around Stockton University‘s neck. If so, it will be a bittersweet coup for the developer, as it’s the second time he’s missed out on a gaming … Continue reading →

Posted in Atlantic City, Charity, Economy, Glenn Straub, Harrah's, International, Marketing, Massachusetts, New York, Racinos, Steve Wynn, Taxes, The Strip, Trump Entertainment Resorts | 2 Comments

Georgia on their minds; How to kill a casino

Posted on September 14, 2015 by David McKee

MGM National Harbor President Lorenzo Creighton dangles some shiny objects and big numbers before Georgia newspaper readers, promising even bigger things for Atlanta, as MGM Resorts International tries to counter lawmakers’ congenital opposition to gambling with suasion and seductive dollar … Continue reading →

Posted in Boyd Gaming, Culinary Union, Derek Stevens, Detroit, Downtown, Economy, Georgia, Horseracing, International, James Packer, Maryland, MGM Mirage, Penn National, Politics, Sheldon Adelson, Steve Wynn, Taxes | Comments Off

Bluhm restless in Massachusetts; Adelson’s latest innovation

Posted on September 10, 2015 by David McKee

Few regulatory bodies move as slothfully as the Massachusetts Gaming Commission and it’s got one would-be developer, Neil Bluhm, kind of antsy. “I’ve got other things to do,” he told the Boston Globe, adding, “Do I want to be here? Yes. … Continue reading →

Posted in Entertainment, Foxwoods, Genting, Harrah's, Massachusetts, Mohegan Sun, Neil Bluhm, Planet Hollywood, Regulation, Sheldon Adelson, Singapore, Taxes, The Strip, Tribal | 1 Comment

Reality check at Sands; Bonanza in Baltimore

Posted on September 4, 2015 by David McKee

Sheldon Adelson risks making himself look in denial with his continuing insistence that the economic troubles in Macao are cyclical. This is B.S.: There has never been a ‘cycle’ in Macao of such depth or duration. Adelson’s Pollyanna attitude contrasts … Continue reading →

Posted in Economy, Harrah's, Japan, Macau, Marketing, Maryland, Sheldon Adelson, Singapore, Taxes, Technology, The Strip, Wall Street | 1 Comment

Caesars, O’Malley flunk key tests

Posted on August 26, 2015 by David McKee

Caesars Entertainment got caught with its pants down by Howard Stutz, who wrote that the company “committed public relations suicide” by lavishing a $200,000 bonus on General Counsel Tim Donovan. This is the same Caesars that is trying to stiff … Continue reading →

Posted in Atlantic City, California, Election, Entertainment, G2E, Harrah's, Maryland, Mohegan Sun, Taxes, Technology, The Strip, Tribal, TV | 1 Comment

New Jersey loses again; From Russia with casinos

Posted on August 26, 2015 by David McKee

New Jersey‘s quest for sports betting came to a bitter, penultimate roadblock before the Third Circuit Court of Appeals, which deemed the Garden State’s repeal of its sports-betting ban to be a violation of the Professional and Amateur Sports Protection Act. … Continue reading →

Posted in Economy, Harrah's, International, Japan, Lawrence Ho, Macau, Politics, South Korea, Taxes | Comments Off

The Penn National effect strikes again

Posted on August 21, 2015 by David McKee

Penn National Gaming is “making it rain” in Plainview, where it has spent $1.5 million with local vendors since opening. The workforce at Plainridge Park has gone from 100 to 533, with a $14 million payroll. And the state has … Continue reading →

Posted in Economy, Harrah's, Macau, Massachusetts, Penn National, Racinos, Regulation, Taxes, Tourism | Comments Off

SLS: Closed by 2016?

Posted on August 19, 2015 by David McKee

That’s the stark implication of some remarks by owner Stockbridge Capital Partners about SLS Las Vegas, which continues to generate negative return on investment. Howard Stutz took a deep dive into the numbers and he must have required a bathysphere to … Continue reading →

Posted in Cannery Casino Resorts, Dining, Entertainment, Genting, Harrah's, IGT, Isle of Capri, James Packer, Marketing, Mississippi, Mohegan Sun, Neil Bluhm, New York, Penn National, Pennsylvania, Revel, Sam Nazarian, Sheldon Adelson, SLS Las Vegas, Taxes, The Strip, Wall Street | 1 Comment

Business heats up in Detroit, cools in Manila

Posted on August 12, 2015 by David McKee

Ohio? What’s Ohio? Casinos in Detroit may as well ask that as they continue to recover from the dent in their business made by the Buckeye State. July revenues were up 3% and, for the year to date, casino revenues … Continue reading →

Posted in Australia, Dan Lee, Detroit, Economy, Environment, Harrah's, Macau, Maryland, Melco Crown Entertainment, MGM Mirage, Ohio, Philippines, South Korea, Taxes | 2 Comments

Shocker in Massachusetts; Successes and setbacks for Penn

Posted on July 27, 2015 by David McKee

In a stunning reversal of fortune, KG Urban Enterprises has ditched its $650 million New Bedford casino project, citing financial difficulties. This ends seven years of grinding effort to gain civic acceptance, which culminated in a landslide electoral victory earlier … Continue reading →

Posted in Election, Environment, Florida, Foxwoods, GLPI, Illinois, Internet gambling, Maine, Massachusetts, Neil Bluhm, Ohio, Penn National, Pennsylvania, Racinos, Regulation, Scientific Games, Steve Wynn, Taxes, Tribal, Wall Street | Comments Off

Doubts pervade Massachusetts; California casino resurrected

Posted on July 21, 2015 by David McKee

A recent article in the Las Vegas Review-Journal poked fun at Massachusetts‘ nascent casino industry and at Penn National Gaming‘s Plainridge Park in particular. All that schadenfreude may not have been gratuitous after all, in view of the gloom presently … Continue reading →

Posted in California, Environment, Foxwoods, Massachusetts, MGM Mirage, Mohegan Sun, Penn National, Regulation, Rhode Island, Steve Wynn, Taxes, Tribal | Comments Off

SLS: The news just gets worse

Posted on July 17, 2015 by David McKee

Despite SLS Las Vegas having lost $183 million in its first eight months of operation, against pitiful revenues of $88 million, President Scott Kreeger insists that owner Stockbridge Capital is in it for the long haul. It has to be, Sam … Continue reading →

Posted in Alabama, Entertainment, International, Internet gambling, Marketing, Politics, Racinos, Revel, Sam Nazarian, SLS Las Vegas, Station Casinos, Taxes, Wall Street | 3 Comments

The lion grumbles; Is Alabama casino-ready?

Posted on July 16, 2015 by David McKee

MGM Resorts International is not going to sit idly by while the State of Connecticut tries to horn in on MGM Springfield‘s business. MGM President William Hornbuckle said the company was “not going to go peacefully” but would not give … Continue reading →

Posted in Alabama, Atlantic City, Foxwoods, Iowa, Macau, Maryland, Massachusetts, MGM Mirage, Mohegan Sun, Penn National, Politics, Racinos, Singapore, Steve Wynn, Taxes, The Strip, Warner Gaming | Comments Off

Mirage volcano muzzled; Macao gives the industry hope

Posted on July 14, 2015 by David McKee

One of Vegas’ most iconic attractions is getting minimized. The Mirage volcano will now only erupt twice on weeknights and thrice on weekends. This austerity move is a concession to MGM Resorts International‘s huge debt overhang. It was also supposedly … Continue reading →

Posted in Economy, Environment, Harrah's, International, Macau, Melco Crown Entertainment, MGM Mirage, Mississippi, Philippines, Sheldon Adelson, South Korea, Station Casinos, Steve Wynn, Taxes, The Strip, Tourism | Comments Off

Bluhm tries, tries again; Caesars sees profits

Posted on July 10, 2015 by David McKee

“Metal panels and precast stone” are the look of Rivers Casino 3.0, as Rush Street Gaming struggles to find a design that sits well with Schenectady city fathers. The casinos is the $330 million linchpin of a $480 million development … Continue reading →

Posted in Architecture, Atlantic City, Harrah's, Neil Bluhm, New York, Taxes | Comments Off

Quote of the Day

Posted on July 7, 2015 by David McKee

“The enormous amount of refunds that the city must pay back on successful tax appeals is simply unsustainable. We continue to make cuts and run city government more efficiently, but it is the taxpayers who will suffer in the long run … Continue reading →

Posted in Atlantic City, Boyd Gaming, Economy, Taxes | Comments Off

Atlantic City, Trump Resorts play for time

Posted on July 6, 2015 by David McKee

Atlantic City can breathe a little easier: It’s bought a year’s reprieve from a ballot question which would revoke its casino monopoly. Technically, it could still get done if the Legislature votes it through by August 30. But it has … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Election, Genting, International, Politics, Sheldon Adelson, Taxes, Trump Entertainment Resorts, TV | 1 Comment

Pushback against Adelson; Packer’s pretension

Posted on June 29, 2015 by David McKee

“Poker is an all-American game. It’s a game that I learned as a teen and continue to play today. Just like millions of other players I enjoy the strategy and skill involved.” So said Rep. Joe Barton (R) as he introduced … Continue reading →

Posted in Architecture, Australia, California, CityCenter, Cosmopolitan, Entertainment, Hard Rock Hotel, Harrah's, International, Internet gambling, James Packer, Lawrence Ho, Macau, PokerStars, Politics, Regulation, Taxes, The Strip, Warner Gaming | Comments Off