Category Archives: Taxes

Seminoles’ big payday; ‘Net-bet stampede: It’s on

Posted on March 2, 2011 by David McKee

After a full year of Class III gambling, the Seminole Tribe has grossed $2 billion. Depending on how considerably that amount ramps up, the State of Florida will enjoy at least a $1 billion “rake” by the end of Gov. … Continue reading →

Posted in Architecture, Atlantic City, Current, Florida, Harrah's, Internet gambling, Isle of Capri, Kentucky, MGM Mirage, Politics, Racinos, Sheldon Adelson, Steve Wynn, Taxes, The Strip, Tribal | 4 Comments

Gary Loveman … visionary?

Posted on February 15, 2011 by David McKee

At the risk of pumping additional hydrogen into his already zeppelin-sized ego, allow me to suggest that Caesars Entertainment CEO Gary Loveman, PhD. is actually onto something. But first would somebody clue him in that there has been casino gambling … Continue reading →

Posted in Architecture, Current, Economy, Entertainment, Florida, G2E, Harrah's, Jack Binion, Marketing, Neil Bluhm, Ohio, Penn National, Pennsylvania, Sheldon Adelson, Slot routes, Taxes, The Mob, The Strip, Tourism, Tropicana Entertainment, Wall Street | 2 Comments

A new “eye in the sky”?

Posted on February 4, 2011 by David McKee

Editor’s note: While I’m occupied on other fronts, guest blogger Alan Saway of software firm Quova takes up the slack, examining some of the infrastructural problems associated with Internet casinos. The Internet Gambling Enforcement Act (UIGEA) of 2006 prohibited online … Continue reading →

Posted in California, International, Internet gambling, Maryland, Massachusetts, MGM Mirage, Ohio, Politics, Regulation, Taxes, Technology, Tribal | 3 Comments

The race for Florida is on

Posted on January 26, 2011 by David McKee

Emissaries from Las Vegas Sands and Wynn Resorts were in Tallahassee to woo Florida legislators yesterday. Also present was Boyd Gaming, which owns property in the Sunshine State and understandably doesn’t want to see solons crafting a sweetheart deal for … Continue reading →

Posted in Boyd Gaming, Florida, Genting, Macau, Politics, Regulation, Sheldon Adelson, Singapore, Steve Wynn, Taxes, Tribal | 3 Comments

East Coast escalation; A modest reprieve

Posted on January 18, 2011 by David McKee

While I’ve been sorting through the sordid life of Allen R. Glick, things have been heating up back east with regard to casino expansion. A Tuesday-morning dispatch from the analysts at J.P. Morgan ran down the salient developments. First, in … Continue reading →

Posted in Current, Environment, Harrah's, Horseracing, Illinois, Kansas, Massachusetts, Penn National, Pennsylvania, Politics, Racinos, Taxes, Wall Street | Comments Off on East Coast escalation; A modest reprieve

What did I just say?

Posted on January 12, 2011 by David McKee

I’m one state closer to making the “under” on my over/under of states likely to put online wagering on the docket this session. Both houses of the New Jersey Legislature have given their approval to a bill that now goes … Continue reading →

Posted in Atlantic City, Cordish Co., Current, Election, Harrah's, International, Internet gambling, Maryland, Massachusetts, Penn National, Pennsylvania, Racinos, Regulation, Sports, Taxes | 1 Comment

Quote of the Day

Posted on January 11, 2011 by David McKee

“The industry we’ve seen these last couple of years isn’t a cash machine that’s impervious to economic changes. All these tax increases are going to be coming off the bottom line, which means less money for reinvestment.” — MGM Resorts … Continue reading →

Posted in Current, Economy, MGM Mirage, Regulation, Taxes | 2 Comments

Sheldon: I’ll take Florida

Posted on January 7, 2011 by David McKee

It’s amazing what a transformative effect a night’s stay at Venelazzo will have. After stopping by Sheldon Adelson‘s little pied-a-terre, Florida Gov. Rick Scott (left) has done a 180 on casino expansion in Florida. Now Scott, refreshed by an evening’s … Continue reading →

Posted in Current, Economy, Election, Florida, Genting, Harrah's, Penn National, Pennsylvania, Politics, Racinos, Sheldon Adelson, Singapore, Steve Wynn, Taxes, The Strip, Tourism, Tribal | 1 Comment

Morning in Vegas? Karma 2, Penn Nat’l 0

Posted on December 21, 2010 by David McKee

Having been burned by a few too many “false positives” in terms of economic recovery, S&G is loath to get anyone’s hopes up. (And some remain skeptical.) However, another room-rate survey from J.P. Morgan provides license for optimism. As you … Continue reading →

Posted in Cosmopolitan, Economy, Election, Harrah's, Ohio, Penn National, Steve Wynn, Taxes, The Strip, Tourism, Wall Street | 4 Comments

Betting on crime; Anniversary in Indiana

Posted on December 21, 2010 by David McKee

Last week’s big chip heist at Bellagio may have left MGM Resorts International with a smidgen of egg on its face but it’s not as though others in the gambling industry have failed to see the opportunity to make money. … Continue reading →

Posted in California, Carl Icahn, Columbia Sussex, Current, Economy, Entertainment, Horseracing, Indiana, Internet gambling, MGM Mirage, New York, Oscar Goodman, Racinos, Taxes, The Strip, Tourism, Tribal, Tropicana Entertainment | 2 Comments

Quote of the Day

Posted on December 13, 2010 by David McKee

“Certainly Vegas interests will be well served by this, but this is first and foremost a consumer protection issue and an opportunity for job creation and revenue for governments. If lawmakers believe the status quo is acceptable, they’re not facing … Continue reading →

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

Cosmo: The curious case of “the curious class”

Posted on December 9, 2010 by David McKee

It seems like David G. Schwartz is everywhere today. Las Vegas’ resident casino expert has not one but two stories out on The Cosmopolitan. From what he writes, Cosmo execs have convinced themselves they’ve reinvented the casino. It hinges upon … Continue reading →

Posted in CityCenter, Cosmopolitan, Current, Donald Trump, G2E, Harry Reid, International, Internet gambling, MGM Mirage, Midnight Jim Gibbons, Sheldon Adelson, Steve Wynn, Taxes, Tribal, Wall Street | 3 Comments

Cosmo rides the wave; Old Sixty Votes rides again

Posted on December 7, 2010 by David McKee

It may be $1.9 billion over budget and 2.5 years behind schedule but The Cosmopolitan appears to be hitting the market with perfect timing. That’s good news for the 5,000 employees who are furiously getting acclimated with the new megaresort. … Continue reading →

Posted in CityCenter, Cosmopolitan, Current, Economy, Harrah's, Harry Reid, history, International, Internet gambling, MGM Mirage, Politics, Regulation, Sheldon Adelson, Steve Wynn, Taxes, The Strip, Tribal, Wall Street | 1 Comment

Illinois: No end in sight; Boyd gets some love

Posted on December 7, 2010 by David McKee

“So much for a [gross gaming revenue] stabilization,” sighed analyst Joseph Greff in a J.P. Morgan investor note, after Illinois‘ casino revenues dropped 7% in November. Whenever you think the Land of Lincoln’s casinos have hit bottom, they sink lower … Continue reading →

Posted in Boulder Strip, Boyd Gaming, Current, Downtown, Economy, Harrah's, Illinois, Isle of Capri, MGM Mirage, Missouri, Penn National, Pinnacle Entertainment, Politics, Taxes | 3 Comments

G2E 1, S&G 0

Posted on November 20, 2010 by David McKee

Despite less glad-handing and more hand-washing than any previous Global Gaming Expo, Yr. Humble Blogger is down for the count until further notice, victim of “flu-like” symptoms that surfaced at the end of the show. I’ll be “offline” another day … Continue reading →

Posted in Current, Economy, G2E, Taxes | 1 Comment

‘Net betting: Wait til 2013 … or 2015 … or 2017 … or …

Posted on November 15, 2010 by David McKee

That was the consensus of a G2E panel that featured former California legislator Lloyd Levine, CNIGA Director of Government Affairs Jerome Encinas and Harrah’s Entertainment‘s top lobbyist, Jan Jones. With HR 2267 still several steps shy of passage and its … Continue reading →

Posted in California, Current, Election, Florida, G2E, Harrah's, Harry Reid, International, Internet gambling, MGM Mirage, Politics, Sheldon Adelson, Taxes, The Strip, Tribal | 3 Comments

Quote of the Day

Posted on November 9, 2010 by David McKee

“When inequality rises, the richest rake in their winnings and buy even bigger mansions and fancier cars. Those a notch below then try to catch up, and end up depleting their savings or taking on more debt, making a financial … Continue reading →

Posted in Current, Economy, Steve Wynn, Taxes | 1 Comment

Juice job of 2011

Posted on November 8, 2010 by David McKee

Harrah’s Entertainment and the AFL-CIO have collected the requisite 20,000 signatures to place its request for a publicly funded stadium out back of Imperial Palace (currently a vast, dark wasteland) before Nevada solons. CEO Gary Loveman would throw in some … Continue reading →

Posted in Archon Corp., Economy, Election, Harrah's, Politics, Sports, Taxes, The Strip, Tourism | 2 Comments

A brief digression … and dark doings in Maine

Posted on November 4, 2010 by David McKee

For those of you who are fascinated by the inexact science known as polling, there’s plenty of interesting reading about What Went Wrong in Nevada (and elsewhere). Major news organizations blew off internal tracking polls, to their eventual mortification. They … Continue reading →

Posted in Economy, Election, Florida, Horseracing, Penn National, Racinos, Taxes, Technology | 2 Comments

Lower gaming taxes in Nevada?

Posted on October 21, 2010 by David McKee

It’s conceivable. And, if former Nevada Gaming Commission Chairman Brian Sandoval (left) gets his wish, it’s justifiable. So let S&G be first to put that idea into play. Since Sandoval’s “home rule” proposal would address Nevada‘s budget deficit by simply … Continue reading →

Posted in CityCenter, Economy, Election, Midnight Jim Gibbons, Oscar Goodman, Politics, Steve Wynn, Taxes, The Strip | 3 Comments