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- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
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Category Archives: The Strip
Wynn out, MGM in: Is history repeating itself?
Remember when Kirk Kerkorian made Steve Wynn an offer he couldn’t refuse for Mirage Resorts? It looks like history is going to repeat itself with “back-channel approaches” being made by MGM Resorts International to embattled Wynn Resorts. “Wynn Resorts is … Continue reading
Posted in Archon Corp., Donald Trump, Elaine Wynn, Galaxy Entertainment, Genting, Hard Rock International, Harrah's, Japan, Laughlin, Macau, Massachusetts, MGM Mirage, Nevada, Ohio, Pennsylvania, Politics, Regulation, Sexual misconduct, Steve Wynn, The Strip, Wall Street, Wynn Resorts
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Shocker: Hard Rock Rocksino sold; New top man at SLS
Despite being the dominant racino operator — hell, gaming operator — in Ohio, it seems that Hard Rock International is throwing in the towel. It’s selling Hard Rock Rocksino to MGM Growth Properties. Early Wall Street speculation is that we’re … Continue reading
Posted in ACEP, Affinity Gaming, Alex Meruelo, Boyd Gaming, Colorado, Economy, Eldorado Resorts, Florida, GLPI, Golden Gaming, Hard Rock International, Harrah's, Illinois, Isle of Capri, MGM Mirage, Neil Bluhm, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Reno, SLS Las Vegas, The Strip, Wall Street
3 Comments
Wynn: The cancer spreads
Executives at Wynn Resorts must have thought they’d outmaneuvered all the regulatory torpedoes headed their way. Steve Wynn had been banished, his stock sold, two board members were on the way out. Then the Wall Street Journal launched a new … Continue reading
Posted in Elaine Wynn, Massachusetts, Regulation, Sexual misconduct, Steve Wynn, The Strip, Wynn Resorts
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Las Vegas: Whales to the rescue
Las Vegas Strip gaming revenues far overshot projections for last month, finishing 11.5% higher, grossing $603.5 million. This is in large part due to baccarat revenues, a cosmic 82.5% higher on a staggering 59% increase in wagering, “likely reflecting some … Continue reading
Posted in Boulder Strip, Boyd Gaming, California, Culinary Union, Downtown, Economy, Genting, Lake Las Vegas, Lake Tahoe, Mesquite, New York, North Las Vegas, Reno, Station Casinos, The Strip, Tribal, Wall Street
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Quo vadis, Steve?; Dan Gilbert’s new twist
Gaming Industry Daily Report Editor Alan Woinski has some interesting speculations about Steve Wynn‘s future and his big stock cash-out. “He will need the money considering he never received a golden parachute when he stepped down. He could have a lot … Continue reading
Steve Wynn has left the building; Packer out, too
Wynn Resorts now has 100% less Steve Wynn now that the mogul has sold his entire stake in the company. At first blush this looks like a passive-aggressive lashing out at a firm that is now moving forward. However, Wynn … Continue reading
Betrayal
Mohegan Sun and Foxwoods Resort Casino need to watch their backs. A bill to reopen the state’s casino-award process has made it to the floor of the Connecticut House. The word of the state, it seems, is not worth the … Continue reading
Posted in Derek Stevens, Downtown, Entertainment, Foxwoods, Harrah's, history, MGM Mirage, Mohegan Sun, Politics, Sports, The Strip, Tilman Fertitta
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Fertitta conquers Lake Charles; Parking fees rise again
Gambling revenue in Louisiana was flat last month, but the bottom-line number doesn’t tell the whole story. For instance, Lake Charles was up 8.5% and trouble-plagued Baton Rouge was 10.5% down. In the former market, Golden Nugget vaulted 21%, to … Continue reading
Vegas soccer no sure thing; Scientific Games wins thrice over
A perspicacious gentleman named Steven R. Brown wrote the following on Facebook in response to my reportage of the apparent shelving of Wynn Paradise Park: “Steve Wynn‘s creativity can be outlandish at times (Like his idea back in the early … Continue reading
Posted in Architecture, Arizona, California, Charity, Detroit, Downtown, Environment, Florida, International, MGM Mirage, Missouri, Ohio, Scientific Games, Sports, Steve Wynn, Texas, The Strip, Wynn Resorts
1 Comment
Ruthless resort-fee robbery; Minstrel show at NY-NY
What do you do when occupancy declines? Why, raise the resort fees, of course! The odious levies went up 16% in 2016 and 11% last year, for an average of $34/night. Venetian/Palazzo recently upped its impost to $45 and other … Continue reading
Sands Bethlehem (finally) sold; Stratosphere battered
Never underestimate the power of electronic bingo. It’s the capital derived therefrom that’s enabling the Poarch Band of Creek Indians to make a $1.3 billion purchase of Sands Bethlehem. The tribe is succeeding where Tropicana Entertainment and MGM Resorts International … Continue reading
Posted in Alabama, Florida, Foxwoods, Golden Gaming, International, Japan, Law enforcement, Macau, Massachusetts, MGM Mirage, Mohegan Sun, Nevada, Pennsylvania, Politics, Regulation, Sheldon Adelson, Singapore, The Strip, Tribal, Tropicana Entertainment, Wall Street
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Paradise lost; MGM contemplates CityCenter buyout
Steve Wynn‘s executive chair isn’t even cold yet and already Wynn Resorts is shifting its priorities, evidently. Yesterday Deutsche Bank analyst Carlo Santarelli wrote that he believes the company “is likely to complete its convention space at Paradise Park and … Continue reading
Posted in Architecture, Churchill Downs, CityCenter, Dubai, Florida, Illinois, Japan, Kazuo Okada, Macau, Massachusetts, MGM Mirage, Pennsylvania, Politics, Steve Wynn, The Strip, Wall Street, Wynn Resorts
1 Comment
Indiana suffers, Ohio not so much; Station’s surprise
While its $170 million gross looked a lot better than Illinois‘ $104 million, Indiana saw its gamblers stay home in droves — 24% less foot traffic, although those who showed up seemed to have spent 21%. In any event, gambling … Continue reading
Posted in Boyd Gaming, Churchill Downs, Economy, Eldorado Resorts, George Maloof, GLPI, Hard Rock International, Harrah's, Illinois, Indiana, Kentucky, Marketing, Ohio, Palms, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Reno, Sports, Station Casinos, The Strip, Tribal
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Mandalay Bay victims compensated; Elton John goes nuclear
There is no dollar value adequate for a human life but the going rate this week is $275,000. That’s how much will be donated to the families of each of the 58 people killed at Mandalay Bay. According to WFAA-TV, “$275,000 … Continue reading
Posted in Charity, Entertainment, Golden Gaming, Harrah's, LVCVA, Mandalay Bay Massacre, The Strip, Tribal, Unite-Here
2 Comments
Penn out of Jamul; Fuzzy math on the Strip
Casino companies rarely admit defeat but Penn National Gaming is bagging it where Hollywood Casino Jamul, near San Diego, is concerned. Hollywood Jamul’s debut was disastrous and Penn’s “essentially exiting” its management contract (as Deutsche Bank analyst Carlo Santarelli put … Continue reading
Posted in California, Economy, Genting, New York, Penn National, Pennsylvania, Sheldon Adelson, The Strip, Tourism, Tribal, Wall Street
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Eldorado sells down; Vegas tourists stay home
Churchill Downs continues to grow as a casino operator, cutting a deal with Eldorado Resorts to buy Presque Isle Downs in Erie, Pennsylvania, and Lady Luck Vicksburg Casino in Mississippi for $229.5 million. That’s an above-average valuation for gaming assets … Continue reading
Posted in California, Churchill Downs, Economy, Eldorado Resorts, Mississippi, Pennsylvania, The Strip, Tourism, Wall Street
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Maddox: Stand by my man
Steve Wynn disgusts me so much that I want to pack it in. His latest stratagem, faced with police reports, is a time-honored [sic] one: Blame the victim. Wynn sent a spokesman out to say the mogul “has never been supplied … Continue reading
Strip weak, locals strong, Reno supercharged; Stanley Ho’s empire crumbles
January got the Las Vegas Strip off to a less-than auspicious start, with revenues dropping 9% from 2017. Locals casinos, meanwhile, were living it up, as revenue rose 8%, thanks in part to New Year’s Eve weekend slot drop being … Continue reading
Posted in Arkansas, Boulder Strip, Colony Capital, Columbia Sussex, Downtown, Economy, Election, Foxwoods, Galaxy Entertainment, Harrah's, Lake Tahoe, Laughlin, Lucky Dragon, Macau, Melco Resorts & Entertainment, Mesquite, MGM Mirage, Nevada, North Las Vegas, Pennsylvania, Politics, Racinos, Sheldon Adelson, Sociedade de Jogos de Macau, Steve Wynn, The Strip, Wall Street, Wynn Resorts
2 Comments
Wynn: It gets worse; More changes for Palms
Steve Wynn may have left Wynn Resorts but the collateral damage keeps careening about like a ricocheting bullet. Yesterday The Associated Press got a hold of two police reports filed against the mogul. The more explosive of the two alleges that … Continue reading
Posted in Architecture, Dining, Downtown, Eldorado Resorts, Illinois, Marketing, Massachusetts, MGM Mirage, Palms, Regulation, Reno, Sexual misconduct, Station Casinos, Steve Wynn, Steven Witkoff, The Strip, Wall Street, Wynn Resorts
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Hard Rock makes sweeping pledge; Wynn dodges a bullet
Having expanded the old Trump Taj Mahal concert venue by over 25%, Hard Rock International is promising the Boardwalk “more live music than Atlantic City has ever seen.” We’re talking 200 live events in Year One. “When’s the first time someone has … Continue reading