Category Archives: Taxes

Harrah’s monster month & other matters

Posted on March 11, 2010 by David McKee

So big it’s practically an island unto itself, Horseshoe Hammond had another blockbuster month, dominating all Indiana casinos with $47 million in revenue — a 7% increase. Excepting a 4% upturn aboard Don Barden‘s beleaguered Majestic Star II, that was … Continue reading →

Posted in Ameristar, Boyd Gaming, Cirque du Soleil, Don Barden, Entertainment, Harrah's, Indiana, Iowa, Pennsylvania, Politics, Regulation, Taxes, Tribal | Comments Off

Quote of the Day

Posted on March 6, 2010 by David McKee

“Having now been hit by the worst recession in American history and the worst downturn in gaming revenues in Nevada history, we can simply no longer afford to bear the overwhelming share of the burden for running the state.” — … Continue reading →

Posted in Economy, MGM Mirage, Regulation, Taxes | 3 Comments

Sands backslides, backpedals in Pennsylvania

Posted on March 1, 2010 by David McKee

Wow, there’s nothing like the rumor of an in-progress sale to light a fire under Las Vegas Sands to restart its desultory Sands Bethlehem. Sands CEO Sheldon Adelson tries to imply that resumption of the hotel is contingent upon getting … Continue reading →

Posted in Columbia Sussex, Economy, Entertainment, Harrah's, Lake Las Vegas, Macau, Massachusetts, Midnight Jim Gibbons, Pennsylvania, Politics, Regulation, Sheldon Adelson, Taxes, The Strip | 6 Comments

Case Bets: Sands in Singapore, casinos in Hawaii, Foxwoods’ prophecy

Posted on February 16, 2010 by David McKee

What a turnaround: Las Vegas Sands has finally ‘fessed up that India will be a top feeder market for Marina Bay Sands (left). There’s no shame in that — it simply gives S&G the opportunity to remind Sands that we … Continue reading →

Posted in Boyd Gaming, Current, Economy, Genting, International, Labor, Sheldon Adelson, Singapore, Taxes, Tribal | 3 Comments

President-ial politics

Posted on February 12, 2010 by David McKee

You know January was bad in St. Louis when the lowly President‘s $2 million take was the only revenue increase in the area. While the Harrah’s Entertainment/Ameristar Casinos pair of Maryland Heights riverboats continues to dominate the market with a … Continue reading →

Posted in Ameristar, Current, Harrah's, Missouri, Pinnacle Entertainment, Regulation, Taxes | Comments Off

“YCMIU”

Posted on February 12, 2010 by David McKee

As I learned earlier today, that’s PDA shorthand for “You can’t make it up.” (It was used by Jon Ralston in reference to a certain governor’s claim to 11-plus years of celibacy … but I digress.) Actually, maybe you can … Continue reading →

Posted in Economy, Massachusetts, Politics, Problem gambling, Taxes | Comments Off

Macao even more profitable than previously thought

Posted on February 10, 2010 by David McKee

If the Chinese government isn’t handing free money to casino operators in Macao, they’re getting the next best thing: free land. Due to the exceptionally slow-moving nature of Macanese governmental paperwork, casino developers have been able to build on their … Continue reading →

Posted in Atlantic City, California, Horseracing, Internet gambling, Macau, Melco Crown Entertainment, Neil Bluhm, Pennsylvania, Pinnacle Entertainment, Racinos, Regulation, Sheldon Adelson, Taxes | 4 Comments

Pawlenty, in real time

Posted on February 4, 2010 by David McKee

As you may have already read, Minnesota Gov. Tim Pawlenty (R) is coming to Venelazzo to dole out some markers to the local GOP that he could call in for a 2012 presidential run (native son John Ensign having obligingly … Continue reading →

Posted in Current, Economy, Election, Internet gambling, Labor, Minnesota, Sheldon Adelson, Taxes, Tribal | 1 Comment

Garth: That’s the way it is

Posted on January 28, 2010 by David McKee

Amid all the ink that’s been spilled about the phenomenon that is Garth Brooks at Wynncore, we have a winner. No review is more eloquent, detailed or well-observed than the one newly penned by my estimable CityLife colleague Mike Prevatt. … Continue reading →

Posted in Alex Yemenidjian, Economy, Election, Encore, Entertainment, MGM Mirage, Midnight Jim Gibbons, Oscar Goodman, Steve Wynn, Taxes, The Strip, Wayne F. Newton | 1 Comment

Case Bets: Net Bets, Harrah’s money grab & why China matters

Posted on January 20, 2010 by David McKee

Mark Juliano, CEO of Trump Entertainment Resorts, has been all over the papers lately. First, he came out in support of a massive taxpayer subsidy (backed by two unions) that would forgive Revel 75% of its room and sales taxes … Continue reading →

Posted in Atlantic City, Current, Donald Trump, Economy, Harrah's, Horseracing, International, Internet gambling, Macau, MGM Mirage, Midnight Jim Gibbons, Politics, Racinos, Regulation, Taxes, The Strip | 3 Comments

Big payoff for Pennsylvania

Posted on January 12, 2010 by David McKee

Gov. Ed Rendell (D) and other state leaders have got to be feeling the love for the Keystone State‘s budding casino industry, which generated over $1 billion in tax revenue last year. That boffo return was achieved without table games … Continue reading →

Posted in Boyd Gaming, Cannery Casino Resorts, Economy, Harrah's, IGT, Indiana, Kentucky, MGM Mirage, Neil Bluhm, Ohio, Penn National, Pennsylvania, Politics, Racinos, Reno, Sheldon Adelson, Taxes, Technology, Tribal, Tropicana Entertainment, TV | 2 Comments

Sheldon the Barbarian & other news

Posted on January 11, 2010 by David McKee

Amid reports of vastly improved attendance at this year’s Consumer Electronics Show comes news of a typical overreaction by Las Vegas Sands. I know of one company that was doing off-site demos and fortunately wasn’t among the vendors turfed out … Continue reading →

Posted in Atlantic City, California, Carl Icahn, Colorado, Columbia Sussex, Current, Economy, Election, Harrah's, Indiana, Politics, Regulation, Sheldon Adelson, Singapore, Taxes, The Strip, Tourism, Transportation, Tribal, Tropicana Entertainment | 5 Comments

It could be worse … couldn’t it?

Posted on January 8, 2010 by David McKee

That’s what passes for optimism these days when confronted by ledgers like those posted by casinos in Illinois and Indiana for December. While the former’s 5% decline hardly looks like cause for celebration, it at least suggests the Land of … Continue reading →

Posted in Boyd Gaming, Current, Don Barden, Economy, Harrah's, Illinois, Indiana, MGM Mirage, Neil Bluhm, Penn National, Politics, Racinos, Regulation, Taxes, Tribal, Tropicana Entertainment | 1 Comment

Random Downtown observations

Posted on January 5, 2010 by David McKee

On the way back from a fine dinner at the Bay City Diner (good food, better service, plus the $2.99 shrimp cocktail), a few off-the-cuff observations were made. A) Damn few people Downtown, even for midweek. B) The Plaza may … Continue reading →

Posted in Cretins, Current, Downtown, Pennsylvania, Politics, Taxes, The Strip, Tilman Fertitta | 2 Comments

Case Bets: Mohegan Sun, Alabama, Weidner, Dubai & a big bet on MGM Mirage

Posted on January 4, 2010 by David McKee

Could default or bankruptcy be in the offing for Mohegan Sun? The tribal supercasino’s attempts to get out from under an onerous fee arrangement with Sol Kerzner and Len Wolman are not only facing heavy weather, Mohegan Sun is also … Continue reading →

Posted in Alabama, Carl Icahn, Charity, CityCenter, Current, Dubai, Economy, Election, Entertainment, Fontainebleau, Harrah's, MGM Mirage, Pinnacle Entertainment, Politics, Riviera, Sahara, Sheldon Adelson, Station Casinos, Taxes, Technology, The Strip, Tribal, Wall Street | 1 Comment

We are Dubai

Posted on December 2, 2009 by David McKee

“If anywhere is emblematic of the debt-fuelled extravagance of the past decade, it is surely [X], which strove to have the tallest, the biggest and the best of everything.” They’ve just got to be talking about Las Vegas, right? No, … Continue reading →

Posted in Alex Yemenidjian, Architecture, Boyd Gaming, Cirque du Soleil, CityCenter, Colony Capital, Columbia Sussex, Cosmopolitan, Current, Dubai, Economy, Entertainment, Harrah's, International, James Packer, MGM Mirage, Morgans Hotel Group, Plaza, Sheldon Adelson, Station Casinos, Steve Wynn, Taxes, The Strip, Tourism, TV, Wall Street | 6 Comments

Is Adelson mad? Trump trumped & Kerzner booted

Posted on December 1, 2009 by David McKee

In an interview with Reuters, Sheldon Adelson said Las Vegas Sands might launch operations in India, Thailand and Japan as soon as 2010. Given the ropey financial condition of his company, the fact that Marina Bay Sands will open at … Continue reading →

Posted in Alex Yemenidjian, Atlantic City, Current, Detroit, Donald Trump, Economy, Genting, Harrah's, International, Kansas, Macau, Massachusetts, Neil Bluhm, Penn National, Pennsylvania, Planet Hollywood, Racinos, Regulation, Sheldon Adelson, Singapore, Stanley Ho, Taxes, Tourism, Tribal | 1 Comment

G2E, tweeted; Flop @ the Trop

Posted on November 20, 2009 by David McKee

Here’s a quickie précis of Global Gaming Expo 2009, as culled from the S&G Twitter feed: “G2E ’09 is G2E Lite. Upside: less walking, less crowding, less backache. Downside: less food. Also, seminar tracks more like Sominex … Slot floor … Continue reading →

Posted in Alex Yemenidjian, CityCenter, Entertainment, G2E, Harry Reid, IGT, Steve Wynn, Taxes, The Strip | 5 Comments

The evils of bingo; Wynn’s Aqueduct exit

Posted on November 5, 2009 by David McKee

America’s sixth-largest casino is in rural Alabama and it commands hotel prices comparable to CityCenter. Its 6,400 Class II devices mean that VictoryLand (above) is one gargantuan e-bingo hall. Due to the state’s patchwork set of laws, e-bingo is legal … Continue reading →

Posted in Alabama, Cretins, Current, Economy, Harrah's, International, Isle of Capri, Louisiana, New York, Pinnacle Entertainment, Politics, Racinos, Singapore, Steve Wynn, Taxes | 1 Comment

From the Twitter feed

Posted on November 4, 2009 by David McKee

@VegasFunFacts: “McCarran Airport was named after former NV Sen. Pat McCarran, known for his anti-communism and for lobbying fed funds and projects for NV.” (Translation: Choke on it, China-loving, guvmint-bashing Steve Wynn.) @jccarcamo: “Republicans on a special committee considering the … Continue reading →

Posted in CityCenter, Election, Florida, MGM Mirage, Politics, Steve Wynn, Taxes, The Strip, Tourism, Transportation, Tribal | Comments Off