Category Archives: Taxes

The casino Angle

Posted on June 29, 2010 by David McKee

Nevada senatorial aspirant Sharron Angle got off to an odd start a few weeks back by warning balefully of “unwarranted influence” from the casino industry. (Which is, after all, one of the Silver State’s two primary sources of revenue.) Then … Continue reading →

Posted in Current, Economy, Election, Harry Reid, Politics, Sports, Station Casinos, Taxes, The Strip | 6 Comments

That tricky Steve Wynn

Posted on June 11, 2010 by David McKee

As you probably saw on Twitter or LVA yesterday, Wynncore has quietly introduced a $20 “resort fee,” joining the parade of dishonor that includes practically everyone not named Harrah’s Entertainment or — believe it or not — Tamares Group. (Keeping … Continue reading →

Posted in Boyd Gaming, Current, Encore, Entertainment, Harrah's, Midnight Jim Gibbons, Station Casinos, Steve Wynn, Tamares Group, Taxes, The Strip | 8 Comments

“The CityCenter shuffle”; Atlantic City saved … for now

Posted on June 3, 2010 by David McKee

That’s what subcontractors are calling the maze of paperwork they’ve had to negotiate while laboring on MGM Mirage‘s $8.5 billion metaresort. When it comes to real estate and construction coverage in Las Vegas, there’s Tony Illia and then there’s everybody … Continue reading →

Posted in Aristocrat, Atlantic City, CityCenter, Economy, Internet gambling, MGM Mirage, Midnight Jim Gibbons, Politics, Sports, Station Casinos, Steve Wynn, Taxes, The Strip, Tourism, Wall Street | 1 Comment

When bad things happen to bad people … plus Cher

Posted on June 2, 2010 by David McKee

Two of the three casinos that say they were stiffed for $822,000 by ex-Boston Celtic Antoine Walker are now owned by Harrah’s Entertainment. The unlucky third is Red Rock Resort. Back “in the olden days” (a Sue Lowden-ism that’s quite … Continue reading →

Posted in Cretins, Economy, Entertainment, Fontainebleau, Harrah's, MGM Mirage, Movies, Planet Hollywood, Regulation, Sports, Station Casinos, Steve Wynn, Taxes, The Strip, Tourism | 3 Comments

Case Bets: Station, Macao, Maryland, Missouri, Mississippi, Encore 2x, etc.

Posted on June 1, 2010 by David McKee

$864.5 million: That’s the magic number if you want to put in an opening bid on 11 Station Casinos properties (plus unspecified land and some tribal-casino-management contracts) come Aug. 6. Boyd Gaming‘s already made it clear that it’s good for … Continue reading →

Posted in Ameristar, Bally Technologies, Boulder Strip, Boyd Gaming, Colony Capital, Current, Economy, Encore, Entertainment, Harrah's, Horseracing, International, Isle of Capri, Macau, Maryland, Mississippi, Missouri, Ohio, Pinnacle Entertainment, Racinos, Regulation, Station Casinos, Steve Wynn, Taxes, The Strip, Tourism, Tribal, Wall Street | 1 Comment

N.Y. casino expansion pimped

Posted on June 1, 2010 by David McKee

Casinos in the Catskills have been touted as an economic panacea for nigh unto a decade. We all know the ensuing score: much hype, little accomplishment. Still, that has not prevented one New York gubernatorial candidate from dusting this idea … Continue reading →

Posted in Atlantic City, Current, Economy, Election, New York, Pennsylvania, Politics, Taxes, Wall Street | Comments Off

“Wynn Agonistes”

Posted on May 28, 2010 by David McKee

Aka Wynn’s Struggle, a melodrama in three acts. In Act I, impervious to irony, Steve Wynn chides Washington, D.C., for overspending, overborrowing and artificial economic stimulation … as though nothing like that happened right along the Las Vegas Strip. He … Continue reading →

Posted in Current, Economy, Entertainment, Macau, Marketing, Politics, Steve Wynn, Taxes, The Strip, Tourism, Wall Street | 5 Comments

Harrah’s, Penn & pols play chess in Ohio

Posted on May 27, 2010 by David McKee

Even as Harrah’s Entertainment was closing its purchase of an Thistledown Race Track, lawmakers were moving to foreclose the prospect of racinos in that state. This doesn’t preclude Buckeye State voters for approving as many as seven racinos this fall, … Continue reading →

Posted in Current, Harrah's, Horseracing, Ohio, Penn National, Politics, Racinos, Regulation, Taxes | Comments Off

Case Bets: Singapore; Reid vs. tribes; Lady Luck, Take 3; Mob war, etc.

Posted on May 26, 2010 by David McKee

Tourism to Singapore jumped 20% last month, surpassing expectations. Resorts World Sentosa and — no surprise — the opening of Marina Bay Sands are credited for the success. Another stumbling block has arisen to the casino market in Massachusetts. A … Continue reading →

Posted in Alex Yemenidjian, Archon Corp., Downtown, Genting, Harrah's, Harry Reid, Massachusetts, Movies, Oklahoma, Politics, Sheldon Adelson, Singapore, Slot routes, Taxes, The Mob, The Strip, Tourism, Transportation, Tribal | 6 Comments

Case Bets: Macao, Maryland, Internet casinos

Posted on May 24, 2010 by David McKee

April was a bonny month for Macao, where overall visitation rose 13% and mainland Chinese tourism rose 17%. Now if only Peking would take its hand off the spigot known as visa quotas, we might have some honest-to-god year/year comparisons … Continue reading →

Posted in Alabama, Cordish Co., IGT, Internet gambling, Kentucky, Macau, Maryland, Politics, Regulation, Sports, Taxes, Technology, The Strip, Tourism | 2 Comments

The Ribis Factor

Posted on May 21, 2010 by David McKee

Today’s a hectic one: four bylines due and not much time for S&G. However, I am the beneficiary of some number-crunching conducted by a reader, who’s been following the decline and fall of Colony Capital‘s two Atlantic City casinos under … Continue reading →

Posted in Atlantic City, Colony Capital, Current, Donald Trump, Economy, Entertainment, George Maloof, Harrah's, Marketing, Mississippi, Planet Hollywood, Politics, Racinos, Taxes, The Strip, Wall Street | Comments Off

That’ll show ’em!

Posted on May 20, 2010 by David McKee

What do you do if a group of conventioneers is discomfited during their stay at your brand-new, “grand slam home run,” unfinished $5.7 billion megaresort? Sue the bastards! That ought to work wonders for Sheldon Adelson‘s convention traffic. (True, the … Continue reading →

Posted in Economy, LVCVA, Marketing, Politics, Regulation, Sheldon Adelson, Singapore, Taxes, The Strip | 1 Comment

Quote of the Day

Posted on May 4, 2010 by David McKee

“[Steve] Wynn does business in Las Vegas, where Gaming Inc. pays a 6.75 percent tax rate and casino bosses bray like thunderstruck donkeys when someone reminds them Mississippi casinos pay 8 percent, Atlantic City casinos contribute 9[%], and Louisiana riverboats … Continue reading →

Posted in Atlantic City, Louisiana, Macau, Mississippi, Steve Wynn, Taxes | Comments Off

This just in: Wynn jilts Philadelphia

Posted on April 8, 2010 by David McKee

On Monday, Steve Wynn was making nice with Philadelphia Mayor Michael Nutter and vowing to glad-hand every civic leader in sight. He had a full set of renderings for how his Wynn Resorts makeover of the mortally wounded Foxwoods project … Continue reading →

Posted in Architecture, Atlantic City, Boyd Gaming, Cannery Casino Resorts, Current, Don Barden, Harrah's, MGM Mirage, Neil Bluhm, Penn National, Pennsylvania, Politics, Racinos, Regulation, Sheldon Adelson, Steve Wynn, Taxes, Tribal | Comments Off

An arena in every pot

Posted on April 7, 2010 by David McKee

A scrum of casino owners and would-be owners is swarming the Clark County Commission with proposed arenas. The Las Vegas City Council may be able to get into the act, as Cordish Cos. is studying the feasibility of a stadium … Continue reading →

Posted in Archon Corp., Cordish Co., Current, Downtown, Dubai, Economy, Entertainment, Gary Goett, Harrah's, Michael Gaughan, Oscar Goodman, Sports, Taxes, The Strip, Tourism, Transportation | 1 Comment

Case Bets: Maryland, Foxwoods, problem gambling

Posted on March 23, 2010 by David McKee

It’s not even been 18 months since Maryland voters gave their assent to slot houses — a time in which the state has to erect a regulatory apparatus, vet applicants, and then wait for the latter to get up and … Continue reading →

Posted in Cordish Co., Current, Economy, Kansas, Marketing, Maryland, MGM Mirage, New York, Penn National, Pennsylvania, Politics, Problem gambling, Racinos, Regulation, Taxes, Tribal | 1 Comment

Case Bets: Gibbons vs. gaming; Pansy Ho; R-J shocked, shocked!; Rat Pack not back

Posted on March 19, 2010 by David McKee

First off, a hearty S&G salute to Steve Friess, named “Best Blogger” by the readers of Las Vegas CityLife. (Yes, I was nominated but didn’t even make it into second place. I’ll live.) As you scroll — and scroll — … Continue reading →

Posted in Colony Capital, Columbia Sussex, Economy, Entertainment, Macau, Midnight Jim Gibbons, New York, Pansy Ho, Regulation, Sahara, Sheldon Adelson, Stanley Ho, Taxes, Technology, The Mob, The Strip, Tourism | 3 Comments

Love Train

Posted on March 18, 2010 by David McKee

As in the flowering bromance between Sen. Harry Reid (D-NV) and mouthpiece-for-hire Sig “The Fixer” Rogich. The former, a longtime supporter of a proposed maglev train betwixt Las Vegas and Anaheim, switched his allegiance to Rogich’s Choo-Choo-to-Nowhere, by the strangest … Continue reading →

Posted in Archon Corp., California, Economy, Election, Herbst Gaming, Politics, Station Casinos, Taxes, Tourism, Transportation | 10 Comments

CityCenter: Guilty by association

Posted on March 15, 2010 by David McKee

This new attack ad, fired today, represents the latest salvo in what might be called The War Over CityCenter. Sen. Harry Reid (D-NV), not having been shy to take credit for CityCenter’s completion, is fair game. Where the ad may … Continue reading →

Posted in CityCenter, Colony Capital, Current, Dubai, Economy, Election, Entertainment, Harrah's, Harry Reid, International, MGM Mirage, Planet Hollywood, Politics, Regulation, Riviera, Station Casinos, Taxes, The Strip | 2 Comments

Who’s crazier: Adelson or Florida?

Posted on March 12, 2010 by David McKee

Pay no attention to the over-budget, behind-schedule megaresort in the background. Six casinos at $2 billion apiece. No joking, that’s what a Sheldon Adelson flunky is proposing in Florida. (I guess the white-out of Atlantic City isn’t the only snow … Continue reading →

Posted in Atlantic City, Current, Economy, Macau, Pennsylvania, Politics, Sheldon Adelson, Singapore, Taxes, The Strip | 4 Comments