Category Archives: The Strip

Caesars’ secret weapon

Posted on May 2, 2019 by David McKee

“Just the right amount of optimism” was how Credit Suisse analyst Ben Combes described Caesars Entertainment’s 1Q19 results. Ex-CEO Mark Frissora‘s purchase of Centaur Gaming continues to pay off, as it was the tentpole of regional-gaming performance. “On a same-store … Continue reading →

Posted in Caesars Entertainment, Centaur Gaming, Detroit, Downtown, Indiana, Louisiana, Marijuana, Mississippi, Penn National, Pennsylvania, Pinnacle Entertainment, Regulation, The Strip, Wall Street | 1 Comment

Wynn faces stiff fine, oversight; Rosenstein cuts and runs

Posted on May 1, 2019 by David McKee

Wynn Resorts dodged a $2.6 billion bullet and will get to keep Encore Boston Harbor. It will have to pay $35 million for that privilege (and it is a privilege) and will pony up the money if it’s smart. After … Continue reading →

Posted in Internet gambling, Law enforcement, Massachusetts, Regulation, Steve Wynn, The Strip, Wynn Resorts | Comments Off on Wynn faces stiff fine, oversight; Rosenstein cuts and runs

Up and down the Strip; Land of the not-so-rising Sun

Posted on April 30, 2019 by David McKee

As a determination on its suitability in Massachusetts comes down to the wire (and opening date of Encore Boston Harbor is set for June 23), Wynn Resorts is trying to reap some positive karma. It has abandoned its pay-for-parking policy. … Continue reading →

Posted in Caesars Entertainment, Derek Stevens, Downtown, Economy, Entertainment, Japan, Macau, Massachusetts, MGM Resorts International, New Jersey, Resort fees, Sports, Sports betting, The Strip, Wall Street, Wynn Resorts | Comments Off on Up and down the Strip; Land of the not-so-rising Sun

MGM: Endgame

Posted on April 26, 2019 by David McKee

What follows is an open letter from CEO Jim Murren to employees of MGM Resorts International: “When I announced MGM 2020 back in January, I knew it would be a long and challenging road to implementation. I pledged you would … Continue reading →

Posted in history, MGM Resorts International, The Strip | 1 Comment

Nevada: Strip weak, locals strong; Busing it to Macao

Posted on April 25, 2019 by David McKee

Las Vegas Strip gambling revenues were down 4% last month to $552 million. Some of that is attributable to an impossible baccarat comparison. In March 2018, baccarat win was up 118%. Last month it was down 56% on 43% less … Continue reading →

Posted in Animals, Architecture, Arkansas, Australia, Boulder Strip, Downtown, Lake Tahoe, Laughlin, Lotteries, Macau, Mesquite, Nevada, New Mexico, North Las Vegas, Reno, South Korea, Sports betting, The Strip, Tourism, Transportation, Tribal | 1 Comment

Re-enter the Dragon

Posted on April 23, 2019 by David McKee

Yes, the Lucky Dragon will be coming back, albeit under a new name. Construction magnate Don Ahern has made a $36 million purchase of the luckless casino, which still carries another $50 million in debt. (Hence the bargain price.) Ahern … Continue reading →

Posted in Animals, Caesars Entertainment, Derek Stevens, Downtown, Lucky Dragon, MGM Resorts International, Pets, Sports betting, Tamares Group, The Strip, TV | 1 Comment

Land of confusion

Posted on April 22, 2019 by David McKee

OK, so there are no condos on sale at the Plaza Resort in downtown Las Vegas. That much we have established. But it’s got to be one of the most baffling stories we’ve ever covered. For instance, “TLC” usually is shorthand … Continue reading →

Posted in Animals, Caesars Entertainment, Churchill Downs, Golden Gaming, Illinois, Japan, Kentucky, Massachusetts, MGM Resorts International, New Jersey, Penn National, Politics, Racinos, Real Estate, Regulation, Sports betting, Tamares Group, Taxes, Terry Caudill, The Strip, Wall Street | Comments Off on Land of confusion

Cosmopolitan on the block (again)

Posted on April 18, 2019 by David McKee

Blackstone Group‘s tenure at The Cosmopolitan of Las Vegas will be remarkably brief (although nothing in the gaming industry will ever match the extreme brevity of the abortive Wynn Resorts/Crown Resorts merger). Bloomberg reports that Blackstone is exploring “strategic options” … Continue reading →

Posted in AGA, Caesars Entertainment, CityCenter, Cosmopolitan, Downtown, history, Las Vegas Sands, Macau, Marketing, Melco Resorts & Entertainment, MGM Resorts International, Politics, Sports betting, Tamares Group, The Strip, TV, Wall Street, Wynn Resorts | Comments Off on Cosmopolitan on the block (again)

New date for The Drew

Posted on April 17, 2019 by David McKee

There are some stirrings of life around the Fontainebleau/The Drew carcass. This week developer Steven Witkoff announced the hiring of Diller Scofidio+ Renfro architectural team to finish the massive hulk, with a new completion date of 2022. (We never bought … Continue reading →

Posted in Architecture, Culinary Union, Entertainment, Fontainebleau, Genting, MGM Resorts International, Politics, Racinos, Sam Nazarian, Sports, Steven Witkoff, The Strip, Virginia | 1 Comment

Caesars: Under the weather; Wynn enters the Internet

Posted on April 16, 2019 by David McKee

Lack of thrift in the executive corridors is hurting Caesars Entertainment‘s stock price. JP Morgan analyst Daniel Politzer just ratcheted his price target down to $12, citing “worse than expected weather/GGR results at CZR’s regional properties and higher than previously … Continue reading →

Posted in Atlantic City, Caesars Entertainment, Colorado, Eldorado Resorts, Environment, Illinois, Internet gambling, Iowa, New York, Reno, Scientific Games, Sports betting, Steve Wynn, The Strip, Tropicana Entertainment, Wall Street, Wynn Resorts | Comments Off on Caesars: Under the weather; Wynn enters the Internet

Not his first Rodio; Less Intrigue at Wynn

Posted on April 15, 2019 by David McKee

Just as the clock was running out for Caesars Entertainment to name a new CEO, Carl Icahn‘s preferred candidate, Anthony Rodio, came across the transom, fresh from Affinity Gaming. Or so the Wall Street Journal says and the WSJ is … Continue reading →

Posted in Affinity Gaming, Atlantic City, Caesars Entertainment, Carl Icahn, Entertainment, Environment, Marijuana, Nevada, Sports, Taxes, The Strip, Tropicana Entertainment, Wynn Resorts | Comments Off on Not his first Rodio; Less Intrigue at Wynn

Casino expansion in Indiana; Wynn nixes Crown deal

Posted on April 11, 2019 by David McKee

Mike Pence having gone to Washington, D.C., we miss his existential debates over what does and does not represent an “expansion” of gambling in Indiana. Doubtless he would come down on the “does” side of a state House proposal to—rather than move … Continue reading →

Posted in Caesars Entertainment, Crown Resorts, Entertainment, Indiana, International, Law enforcement, Macau, Majestic Star, Philippines, Politics, Regulation, The Strip, World Series of Poker, Wynn Resorts | Comments Off on Casino expansion in Indiana; Wynn nixes Crown deal

Steve Wynn 86’d; Icahn & Fertitta talk turkey

Posted on April 11, 2019 by David McKee

In an obvious attempt to placate the Massachusetts Gaming Commission, after a bruising set of hearings, Wynn Resorts has filed a legal brief in the Bay State, requesting permission to bar Steve Wynn from all Wynn Resorts properties. This is, in our … Continue reading →

Posted in Caesars Entertainment, Carl Icahn, Dining, Marketing, Massachusetts, MGM Resorts International, Regulation, Sports, Sports betting, Station Casinos, Steve Wynn, The Strip, Tilman Fertitta, Wall Street, Wynn Resorts | 1 Comment

Circa rustles up $$; Wynn slammed

Posted on April 3, 2019 by David McKee

Despite some distant jingoism in the halls of Congress, Derek Stevens in still putting his money—so to speak—on EB-5 investors. This Web site opens with a slide show of a soon-to-be Downtown icon, Circa, followed by the copy, “We have chosen … Continue reading →

Posted in Derek Stevens, Downtown, Lucky Dragon, Massachusetts, MGM Resorts International, Movies, Regulation, Rhode Island, Sexual misconduct, SLS Las Vegas, Sports, Sports betting, Steve Wynn, Taxes, The Strip, Wall Street, Wynn Resorts | Comments Off on Circa rustles up $$; Wynn slammed

News briefs from around the globe

Posted on April 1, 2019 by David McKee

It’s the end of an era at Hard Rock Rocksino in Ohio. This week it becomes MGM Northfield Park, a completely uninspiring handle that reeks of insecurity. Dan Gilbert, if you’re ever going to make a run for the top … Continue reading →

Posted in California, Charity, Dining, Entertainment, International, Japan, Lake Las Vegas, Law enforcement, Maryland, MGM Resorts International, Ohio, Real Estate, Technology, The Strip, TV | 1 Comment

West Virginia joins ‘Net-bet pack; Conventioneers flood the Strip

Posted on March 29, 2019 by David McKee

And then there were five. Internet gambling was legalized in West Virginia this week, as was i-poker. Gov. Jim Justice (R) appears to have been opposed to the law—or to giving political opponents a stick to beat him with—so he … Continue reading →

Posted in Atlantic City, Caesars Entertainment, California, Downtown, Economy, Entertainment, Florida, Genting, Hard Rock International, Internet gambling, MGM Resorts International, New York, Politics, Rush Street Gaming, Scientific Games, Tamares Group, The Strip, West Virginia | 2 Comments

Baccarat undercuts the Strip; Japan shows its hand

Posted on March 28, 2019 by David McKee

Is our trade war with China inflicting collateral damage on the Las Vegas Strip? That’s one theory for anemic Chinese New Year visitation that led to a 2% downturn in gaming receipts last month. By contrast, last year saw an … Continue reading →

Posted in Boulder Strip, Downtown, Economy, Internet gambling, Japan, Lake Tahoe, Laughlin, Mesquite, MGM Resorts International, Nevada, North Las Vegas, Philippines, Problem gambling, Regulation, Reno, Taxes, The Strip, Wendover | Comments Off on Baccarat undercuts the Strip; Japan shows its hand

Blackout at Boyd; Virginia ponies propped up

Posted on March 27, 2019 by David McKee

Boyd Gaming appears to have stepped in it, big time, according to former Ameristar St. Charles sales director Kim Carpenter. She’s suing the casino over her dismissal, which she alleges followed her complaints about sexual discrimination and retaliation. After booking a … Continue reading →

Posted in Architecture, Boyd Gaming, Economy, Horseracing, MGM Resorts International, Mississippi, Missouri, Nevada, Racinos, Reno, Rhode Island, Sports, Sports betting, Station Casinos, The Strip, Tribal, Virginia | 4 Comments

Quote of the Day

Posted on March 27, 2019 by David McKee

“By the way, the acronym MICE has started to give way to ME, for meetings and events, handily sidestepping the rodent reference. Another term that’s being bandied about is ‘bleisure,’ for the business-and-leisure guest. It’s a concept to remember, but … Continue reading →

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Quote of the Day

Posted on March 26, 2019 by David McKee

“The point is, anyone can state an opinion about a line with great confidence and authority when it is accompanied with complete financial immunity. It takes a truly talented group of people to put up numbers day after day knowing … Continue reading →

Posted in history, Sports betting, The Strip | Comments Off on Quote of the Day