Category Archives: Taxes

Case Bets

Posted on June 25, 2014 by David McKee

Look what they found. Legislators in Delaware have “found” money to aid the state’s ailing racinos and, surprisingly, no sofa cushions were involved. $10 million will be used to help reduce the racinos’ costs to slot machine vendors by 75%. … Continue reading →

Posted in Delaware, Harrah's, history, Louisiana, Maryland, MGM Mirage, Racinos, Regulation, Taxes | Comments Off on Case Bets

Revel bankrupt … again

Posted on June 20, 2014 by David McKee

Owned by former creditors, Revel Casino Hotel is dropping a bankruptcy on newer creditors. Hopefully this move will stave off the Aug. 18 closing (perhaps as late as Sept. 1.) that was threatened in a letter to employees yesterday, although the … Continue reading →

Posted in Atlantic City, Delaware, Dining, Economy, Entertainment, Foxwoods, Harrah's, Maryland, Pennsylvania, Racinos, Revel, Rhode Island, Taxes | 1 Comment

Mohegan Sun: It’s us or nobody; Tunica blues

Posted on June 19, 2014 by David McKee

Eastern Massachusetts voters would rather have a Mohegan Sun casino than a Wynn Resorts one. So claims a poll paid for by Mohegan Sun … so draw your own conclusions. It also shows casino-law repeal only getting 35% of the … Continue reading →

Posted in Delaware, Economy, Election, Harrah's, Massachusetts, Mississippi, Mohegan Sun, Politics, Steve Wynn, Taxes | Comments Off on Mohegan Sun: It’s us or nobody; Tunica blues

Atlantic City courts the LGBT dollar; Indiana casinos court anybody’s dollar

Posted on June 17, 2014 by David McKee

Formerly a gay getaway, Atlantic City lost its LGBT-friendly image when the casinos came in 1978, or so the history goes. “When the casinos came, people were quick to bulldoze whatever they had to sell for millions, and we lost … Continue reading →

Posted in Atlantic City, Boyd Gaming, Harrah's, Illinois, Kansas, Marketing, Ohio, Penn National, Pinnacle Entertainment, Racinos, Sam Nazarian, Slot routes, Taxes, The Strip, Tribal | Comments Off on Atlantic City courts the LGBT dollar; Indiana casinos court anybody’s dollar

Freeman defeated; Caesars renders unto Maryland

Posted on May 21, 2014 by David McKee

In a stunning reversal — and a major victory for Sheldon Adelson — American Gaming Association President Geoff Freeman is ending the lobbying group’s support for Internet gambling. Freeman calls it “an issue that the association cannot lead on,” so the … Continue reading →

Posted in Economy, Geoff Freeman, Harrah's, Internet gambling, Macau, Maryland, Regulation, Sheldon Adelson, Steve Wynn, Taxes, Wall Street | Comments Off on Freeman defeated; Caesars renders unto Maryland

And then there were fewer; The Culinary’s empty threats

Posted on May 20, 2014 by David McKee

Scratch two names from the mad scramble for a New York State casino. The vaguely interested Rolling Hills Entertainment is out but it was a long shot. Of greater consequence is Pinnacle Entertainment‘s abandonment of its pursuit of the Albany … Continue reading →

Posted in Boyd Gaming, Churchill Downs, Culinary Union, Derek Stevens, Downtown, Harrah's, Illinois, Maryland, New York, Pinnacle Entertainment, Racinos, Tamares Group, Taxes, Terry Caudill | Comments Off on And then there were fewer; The Culinary’s empty threats

Happy anniversary for Adelson; Penn’s legal woes

Posted on May 13, 2014 by David McKee

Smashed entrance doors, overburdened and broken escalators, and 40,000 customers … it was all in a day’s work when Sands Macao opened — can it really be 10 years ago next week? Time flies when you’re Sheldon Adelson. Although Stanley … Continue reading →

Posted in Iowa, Japan, Macau, Massachusetts, Neil Bluhm, Penn National, Racinos, Regulation, Sheldon Adelson, Stanley Ho, Taxes | Comments Off on Happy anniversary for Adelson; Penn’s legal woes

Burton Cohen, 1923-2014

Posted on May 7, 2014 by David McKee

One of Las Vegas’ least pretentious and most beloved casino executives died yesterday when Burton Cohen expired at the age of 90. He kept his hand in until the end, serving on the MGM Resorts International board of directors. His manifold tours … Continue reading →

Posted in Delaware, Entertainment, history, MGM Mirage, Racinos, Taxes, TV | Comments Off on Burton Cohen, 1923-2014

Shadow boxing in Boston; Rejected again in New Hampshire

Posted on May 2, 2014 by David McKee

There’s been yet another delay — only a week — in Boston‘s quixotic pursuit of host-community status for Wynn Resorts‘ and Mohegan Sun‘s Hub-area projects. The Massachusetts Gaming Commission obliged Boston Mayor Martin J. Walsh with postponement on Beantown’s application … Continue reading →

Posted in Entertainment, Massachusetts, MGM Mirage, Mohegan Sun, New Hampshire, Regulation, Steve Wynn, Taxes, The Strip | Comments Off on Shadow boxing in Boston; Rejected again in New Hampshire

Selective outrage at Mandalay Bay; Tough call in Delaware

Posted on April 30, 2014 by David McKee

Mandalay Bay, which hosts Los Angeles Clippers pre-season play, and which advertises during Clippers games is out of the picture … for now. Although the NBA has banned unspeakably vile Clippers owner Donald Sterling from the league, Mandalay Bay is … Continue reading →

Posted in Architecture, Cretins, Delaware, Internet gambling, MGM Mirage, Racinos, Sports, Taxes, The Strip | Comments Off on Selective outrage at Mandalay Bay; Tough call in Delaware

Pinnacle, GLPI impress The Street; Parx beats Pennsylvania

Posted on April 30, 2014 by David McKee

Despite soft performance in its regional markets, Pinnacle Entertainment impressed an analyst or two by exceeding revenue expectations for the past quarter. Pinnacle’s cash flow was $3 million above Wall Street estimates, a feat attributed to fiscal discipline and improved … Continue reading →

Posted in Ameristar, Greenwood Racing, Illinois, Louisiana, Marketing, Missouri, Penn National, Pennsylvania, Pinnacle Entertainment, Taxes, Wall Street | Comments Off on Pinnacle, GLPI impress The Street; Parx beats Pennsylvania

This just in: Seminole deal near?

Posted on April 25, 2014 by David McKee

Someone “close to the negotiations” for a new tribal gaming compact in Florida tells The Associated Press the Gov. Rick Scott is feeling out legislative leaders about holding a special session in May. The reason: A new state/Seminole Tribe deal. … Continue reading →

Posted in Florida, Taxes, Tribal | Comments Off on This just in: Seminole deal near?

Look out, Macao, here comes Crimea

Posted on April 21, 2014 by David McKee

That’s the message from Crimea‘s puppet leader, Rustam Temirgaliyev, who claims that Crimea could outdo Monaco, Las Vegas and even Macao. (It is not recorded whether anyone laughed at his assertion.) “Our task is to create a tourist cluster, which will … Continue reading →

Posted in Entertainment, Greenwood Racing, Harrah's, International, Massachusetts, Mohegan Sun, North Las Vegas, Pennsylvania, Racinos, Regulation, Steve Wynn, Taxes | 1 Comment

Double whammy in Iowa; Desperation in Illinois

Posted on April 17, 2014 by David McKee

Iowa casino regulators took a strong stand in favor of the status quo, after playing it so cool they had expansion advocates fooled. Following the guidance of their own studies, they shot down the Cedar Crossing Casino project, citing its … Continue reading →

Posted in Atlantic City, Harrah's, Illinois, Penn National, Regulation, Taxes, Warner Gaming | 2 Comments

Mr. Leven, your tinfoil hat is ready

Posted on April 14, 2014 by David McKee

Given the chance to make some friends and influence people in Washington, D.C., instead Las Vegas Sands COO Michael Leven chose to spit in their eye. He made the rather wild claim that the present administration wants legalized Internet gambling … Continue reading →

Posted in Architecture, Internet gambling, Sheldon Adelson, Station Casinos, Taxes, The Strip, Tribal, Wisconsin | Comments Off on Mr. Leven, your tinfoil hat is ready

East Coast Case Bets

Posted on April 8, 2014 by David McKee

Although talks have been conducted in deep secrecy, a few details of Seminole Tribe compact negotiations have been vouchsafed the public. The tribe is telling the state “don’t push us on this,” reminding it that the Bureau of Indian Affairs … Continue reading →

Posted in Cordish Co., Harrah's, Maryland, Massachusetts, MGM Mirage, Mohegan Sun, Penn National, Politics, Racinos, Taxes, Tropicana Entertainment | 1 Comment

Penn tanks in Illinois, Bluhm ascends; The casino transfer that wasn’t

Posted on April 7, 2014 by David McKee

There were two clear winners in Illinois last month and one big loser — Penn National Gaming. Performing worse than expected,  Penn had double-digit declines at all four of its casinos: Empress Joliet (-14%), Hollywood Aurora (-14%), Alton Belle (16%) … Continue reading →

Posted in Boyd Gaming, Dan Gilbert, Detroit, Harrah's, Horseracing, Lake Tahoe, Massachusetts, Neil Bluhm, Penn National, Regulation, Taxes | 1 Comment

Case Bets

Posted on April 4, 2014 by David McKee

In a risky play, the Missouri Senate voted upon and passed to the General Assembly a bill that would boost Show-Me State casinos’ ability to extend credit. Mind you, all the risk is on the casino. It could lend as … Continue reading →

Posted in Alabama, Economy, Genting, Internet gambling, Mississippi, Missouri, New York, Pinnacle Entertainment, Racinos, Taxes | Comments Off on Case Bets

Sheldon Adelson, sacred monster; New Jersey ‘Net

Posted on April 2, 2014 by David McKee

In case you hadn’t heard, Sheldon Adelson is a pretty rich fella. A run-up in Las Vegas Sands stock over the last two days has put $2.1 billion extra in his pocket. This, inevitably, has sparked further discussion of his … Continue reading →

Posted in Atlantic City, Internet gambling, Politics, Regulation, Sheldon Adelson, Taxes, The Strip, Wall Street | Comments Off on Sheldon Adelson, sacred monster; New Jersey ‘Net

O little metropolis of Bethlehem; MGM on the move

Posted on March 31, 2014 by David McKee

Indiscriminate dissemination by Sands Bethlehem of $45 free-play slot cards is having some interesting effects on Bethlehem itself. It’s brought about an influx of largely Chinese-American players but not all are there to play. Some pay $15 for a round-trip … Continue reading →

Posted in Marketing, Maryland, Massachusetts, MGM Mirage, Mohegan Sun, Pennsylvania, Regulation, Sheldon Adelson, Steve Wynn, Taxes, Transportation | Comments Off on O little metropolis of Bethlehem; MGM on the move