Category Archives: Taxes

What if they gave a casino and no one came?

Posted on October 18, 2011 by David McKee

Such been the plight of Maryland, a state that’s experienced the curious predicament of having more casino licenses than applicants. It’s much the same as Kansas, where things have gone awful quiet. Now, Kansas is like a corn-fed Macao: You … Continue reading →

Posted in Cordish Co., Current, Donald Trump, Economy, G2E, Harrah's, International, Isle of Capri, Kansas, Macau, Maryland, Ohio, Penn National, Racinos, Regulation, Taxes, West Virginia | 1 Comment

Big ‘boing’ in Pennsylvania; Labor strife in Detroit

Posted on October 18, 2011 by David McKee

Casino revenues last month in Pennsylvania must have been riding a pogo stick — up 13% from last year. That includes a 39% moonshot in table revenues. Leaders include Sands Bethlehem (22%, right), while Penn National‘s eponymous racino must be … Continue reading →

Posted in Cannery Casino Resorts, Current, Detroit, Economy, Genting, Harrah's, Indiana, International, Louisiana, MGM Mirage, Neil Bluhm, New York, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Sheldon Adelson, Sports, Taxes | Comments Off

Breakthrough in Massachusetts

Posted on October 13, 2011 by David McKee

This just in … the Massachusetts state Senate voted 24-14 to send casino legalization on to a conference committee, where the House’s version — passed with a crushing majority — already reposes. Differences between the two versions, obviously, will have … Continue reading →

Posted in Bally Technologies, Current, Economy, Florida, Genting, Harrah's, Horseracing, IGT, Internet gambling, Movies, Penn National, Pennsylvania, Politics, Racinos, Regulation, Sheldon Adelson, Slot routes, Sports, Steve Wynn, Taxes, Tribal, Wall Street, WMS Industries | Comments Off

Monopoly over Miami

Posted on October 4, 2011 by David McKee

A recent visitor to Las Vegas from the Pacific Rim told me that Sheldon Adelson has worn out his welcome in Macao (which is on pace to eclipse all other gaming markets combined) and is fast doing so in Singapore. … Continue reading →

Posted in Archon Corp., Current, Economy, Florida, Genting, Harrah's, Internet gambling, Laughlin, Macau, Massachusetts, New York, Pennsylvania, Politics, Racinos, Sheldon Adelson, Singapore, Stanley Ho, Steve Wynn, Taxes, Wall Street | Comments Off

“The Paddy Factor”

Posted on September 29, 2011 by David McKee

(For film buffs: “The Paddy Factor” was the working title of what became the classic gangster movie, The Long Good Friday … and the rest was history.) A new “Paddy factor” got flung into the Vegas equation this week when … Continue reading →

Posted in Current, Harrah's, Horseracing, Illinois, International, Internet gambling, MGM Mirage, Movies, Politics, Racinos, Regulation, Sheldon Adelson, Slot routes, Steve Wynn, Taxes, Technology, The Strip | 1 Comment

The Great Riverboat Robbery revisited; Wynncore Manila?

Posted on September 28, 2011 by David McKee

Under fire for the low property valuations it placed on Pinnacle Entertainment‘s River City and Caesars Entertainment‘s Harrah’s Maryland Heights, the St. Louis County Board of Equalization backpedaled … sorta. They accepted County Assessor Jake Zimmerman‘s increased valuation for soon-to-expand … Continue reading →

Posted in Ameristar, Current, Detroit, Downtown, Economy, G2E, Harrah's, International, Marketing, Missouri, Pinnacle Entertainment, Steve Wynn, Tamares Group, Taxes, Wall Street | Comments Off

Sheldon Adelson, casino opponent

Posted on September 23, 2011 by David McKee

You read that right: El Bombastico has developed a sudden concern that adding 9,000 slots to Florida‘s existing inventory of 15,000 “will saturate the market with too many games,” in the words of the Miami Herald. In other words, there … Continue reading →

Posted in Architecture, Atlantic City, Colony Capital, Columbia Sussex, Current, Economy, Florida, Genting, Regulation, Singapore, Taxes, Tribal, Tropicana Entertainment | 1 Comment

Caesars’ big Asian bet; Playing with yourself in Vegas

Posted on September 23, 2011 by David McKee

It’s amazing what you can do when you simply punt your debt burden a few years down the road. In the case of Caesars Entertainment, it means you’ve got an extra $470 million lying around to build Caesars Palace Longmu … Continue reading →

Posted in Alex Yemenidjian, Architecture, Current, Election, Harrah's, International, Internet gambling, M Resort, Macau, Marketing, MGM Mirage, Movies, Penn National, Regulation, Sheldon Adelson, Tamares Group, Taxes, Technology, Warner Gaming | Comments Off

The great riverboat robbery; Pusateri’s revenge; Gaming’s top 12

Posted on September 21, 2011 by David McKee

Increased funding for education is always the big selling point whenever gambling laws in Missouri are liberalized. This week, schools are finding out what sort of Indian givers their casino benefactors are. Schools are among the public services that stand … Continue reading →

Posted in Ameristar, Bally Technologies, Boyd Gaming, Current, George Maloof, Harrah's, IGT, Isle of Capri, Macau, MGM Mirage, Missouri, Morgans Hotel Group, Penn National, Pinnacle Entertainment, Regulation, Sheldon Adelson, Steve Wynn, Taxes, The Strip, Tourism, Wall Street, Warner Gaming, WMS Industries | 3 Comments

Gaming is on the march

Posted on September 9, 2011 by David McKee

Add Kentucky to the states that have casino-style gambling, at least temporarily. Owners of Kentucky Downs found a loophole in Bluegrass State law and galloped through it. “Instant Racing” is the sort of VLT game you might find at a … Continue reading →

Posted in Cannery Casino Resorts, Current, Economy, Election, Genting, Harrah's, Horseracing, Isle of Capri, Kentucky, Louisiana, Maine, Massachusetts, New York, Ohio, Penn National, Politics, Racinos, Regulation, Taxes, The Strip, Tourism, Transportation, Tribal, Warner Gaming | 6 Comments

Thaw in Massachusetts? Hilton has left the building

Posted on August 25, 2011 by David McKee

After screwing the pooch in the previous legislature, it looks as though Gov. Deval Patrick (D-MA) and state lawmakers are finally on the same page regarding casino expansion in the Bay State. Analyst Joseph Greff rates the solons’ chances of … Continue reading →

Posted in Atlantic City, Bally Technologies, Colony Capital, Current, Economy, Genting, Horseracing, IGT, Isle of Capri, Kansas, Marketing, Maryland, Pennsylvania, Politics, Racinos, Regulation, Singapore, Taxes, The Strip, Tourism, Tribal, Wall Street, Warner Gaming, WMS Industries | 2 Comments

Taking back (Harrah’s) America

Posted on August 16, 2011 by David McKee

Ever-vigilant in his watch over “The Borg” (aka Caesars Entertainment), Vegas Tripping author Chuck Monster has been keeping a gimlet eye on the revival of Project Linq. Granted access to internal Caesars documents, Mr. Monster reveals that the much-needed makeover … Continue reading →

Posted in Architecture, Atlantic City, CityCenter, Current, Economy, Harrah's, International, Sports, Steve Wynn, Taxes, Wall Street | 8 Comments

Vegas’ recovery? D.O.A.

Posted on August 2, 2011 by David McKee

In the wake of last weekend’s Grand Capitulation on the banks of Foggy Bottom (I’ll let you decide who capitulated to whom), the incipient Las Vegas recovery that was materializing in late 2011 is probably as good as dead. Even … Continue reading →

Posted in Current, Donald Trump, Economy, history, International, Macau, Sheldon Adelson, Steve Wynn, Taxes, The Strip, Tourism, Wall Street | 8 Comments

For sale: One casino, slightly used; Golden showers in LV

Posted on July 26, 2011 by David McKee

Pity MGM Resorts International. It owns half of the top-grossing casino in Atlantic City and can’t give it away. Yup, as many feared, investor Leonard Green has slinked off into the tall grass, leaving MGM with 50% of Borgata it … Continue reading →

Posted in Atlantic City, Boyd Gaming, CityCenter, Cordish Co., Current, Entertainment, Environment, Maryland, MGM Mirage, Ohio, Penn National, Sheldon Adelson, Taxes, The Strip, Tourism, Wall Street, Warner Gaming | 2 Comments

Whine and cheese

Posted on July 25, 2011 by David McKee

Steve Wynn‘s desperate cry for attention got him back onto cable news … if perhaps not with the degree of sympathy for which he hoped. I saw this segment yesterday while on the treadmill and thought I’d pass it along … Continue reading →

Posted in Economy, Steve Wynn, Taxes, TV, Wall Street | 1 Comment

Lost: Steve Wynn’s marbles

Posted on July 21, 2011 by David McKee

Oh Christ, Steve Wynn, grow up already. Busy Wall Street analysts were held hostage to a 433-word talk-radio tirade while they were probably itching to write up quarterly earnings reports. When other CEOs might have been bragging on an “amazing … Continue reading →

Posted in Alabama, Boyd Gaming, California, Carl Icahn, CityCenter, Economy, Florida, Fontainebleau, Harrah's, James Packer, Lawrence Ho, Macau, Massachusetts, Melco Crown Entertainment, MGM Mirage, Politics, Regulation, Sheldon Adelson, Steve Wynn, Taxes, Texas, The Strip, Tourism | 5 Comments

Restarting in Ohio

Posted on July 1, 2011 by David McKee

Now that Penn National Gaming and Rock Ohio Caesars have waved the white flag to Gov. Jon Kasich‘s monetary demands, work is resuming at their once-stalled Ohio casinos. In the case of ROC’s Cleveland casino, Rock Ventures and Caesars Entertainment … Continue reading →

Posted in Architecture, Current, Harrah's, Horseracing, Ohio, Penn National, Politics, Racinos, Regulation, Taxes | 1 Comment

A Tale of Two Resorts

Posted on June 27, 2011 by David McKee

As everyone knows, both Palms Casino Resort and M Resort recently changed hands, the former going to a pair of hedge funds and the latter to Penn National Gaming. Penn broke with industry tradition by keeping property CEO Anthony Marnell … Continue reading →

Posted in Current, George Maloof, Hard Rock Hotel, Harrah's, Laughlin, M Resort, Marketing, MGM Mirage, Morgans Hotel Group, Penn National, Sheldon Adelson, Sports, Steve Wynn, Taxes | 13 Comments

Illinois: Optimism or suicide?

Posted on June 24, 2011 by David McKee

It doesn’t matter to state Rep. Lou Lang (D, right) that Illinois‘ casino revenues are puny compared to those of neighboring Indiana or that St. Louis-area players are defecting in droves. He wants racinos and more casinos, by golly, and … Continue reading →

Posted in Architecture, Boyd Gaming, Current, Economy, Entertainment, Harrah's, Illinois, Indiana, Internet gambling, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Mississippi, Missouri, Neil Bluhm, Pennsylvania, Politics, Racinos, Regulation, Sheldon Adelson, Taxes, Texas, Tribal | 2 Comments

Genting’s amphibious strategy

Posted on June 24, 2011 by David McKee

There may not be Vegas-style casinos in Florida yet (at least not non-tribal ones) but Genting Bhd is taking a gamble of its own. While Sheldon Adelson talks about putting $3 billion into the Miami area, Genting is already doing … Continue reading →

Posted in Economy, Florida, Genting, Harrah's, International, Macau, MGM Mirage, Politics, Sheldon Adelson, Singapore, Steve Wynn, Taxes, The Strip, Tourism, Tribal | 2 Comments