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- David McKee on Sibella scandal spreads; Supremes forestall Seminoles
- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
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Category Archives: The Strip
Phil Ruffin, International Man of Mystery; Another day, another DFS probe
So now we know where those The Mirage-is-for-sale rumors were coming from. Seems that the place really was not for sale, although Phil Ruffin wished it was, to the tune of $1.3 billion. And, as badly as MGM Resorts International … Continue reading
Posted in Atlantic City, Donald Trump, GLPI, Internet gambling, Macau, MGM Mirage, Phil Ruffin, Politics, Regulation, Sports, Stanley Ho, The Strip, Wall Street
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SLS gets new patron; Mixed quarter at Caesars
Revolving doors continue to spin, metaphorically, at SLS Las Vegas. No sooner had Hilton Worldwide dropped the property from its Curio brand but Starwood Resorts Worldwide picked up part of the property and slapped its W hotel escutcheon on it. The … Continue reading
Posted in Harrah's, International, Macau, Marketing, Maryland, Regulation, Sam Nazarian, SLS Las Vegas, Station Casinos, Technology, The Strip
1 Comment
New blows to Adelson, SLS; Seminoles’ air war
Ex-Sands China CEO Steven Jacobs‘ wrongful-termination case will still proceed under the gavel of Judge Elizabeth Gonzalez. The Nevada Supreme Court, in an unpublished opinion, reaffirmed Gonzalez’s standing in the case and also ordered Las Vegas Sands to pony up … Continue reading
Posted in Florida, Indiana, Internet gambling, Macau, Politics, Regulation, Sam Nazarian, Seminole Tribe, Sheldon Adelson, SLS Las Vegas, Taxes, The Strip, TV
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Packer on the move in Vegas; Impending strike in Detroit?
Formally speaking, Alon hasn’t broken ground but that hasn’t stopped James Packer‘s bulldozers and backhoes from moving earth around at the site of the planned megaresort, as well as leveling some of the landscaping Steve Wynn paid for to conceal … Continue reading
Posted in Architecture, Carl Icahn, Dan Gilbert, Detroit, Fontainebleau, Genting, James Packer, MGM Mirage, SLS Las Vegas, Steve Wynn, The Strip
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Straub has new plan for Revel; Station cans Cactus Lane casino
Glenn Straub can’t even heat Revel but he’s got his sights on becoming Atlantic City‘s biggest slumlord. The ever-unpredictable billionaire’s latest plan for the megaresort is to use it to house Syrian refugees. However, this homeless-hostel offer is good for … Continue reading
Posted in Atlantic City, Glenn Straub, Internet gambling, Michael Gaughan, Regulation, Reno, Revel, Sports, Station Casinos, Taxes, The Strip, Westgate LV
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Caesars loses Ohio; Parking fees on the Strip?
In a lose-lose scenario, Caesars Entertainment is losing its management contracts at Horseshoe Cincinnati, Horseshoe Cleveland and Thistledown Racino. Even with the valuable Horseshoe brand, all three had been losing business in recent months. Caesars had long ago sold its … Continue reading
Baccarat buoys the Strip; Last call for Vegas Club
Not only were Nevada gaming revenues up 2% last month, so were Strip revs, propelled by heavy baccarat play. In addition to 17% more being wagered, the house played lucky, winning 24% than last year. That more than made up … Continue reading
Caesars: (Almost) everything must go; More angst in Macao
Well, it had to happen eventually. In order to escape bankruptcy, Caesars Entertainment is putting Caesars Entertainment Operating Co. on the market. There are some who are calling this a bluff and others who can’t afford to get in on … Continue reading
Posted in Atlantic City, Boyd Gaming, California, Economy, GLPI, Harrah's, Illinois, Indiana, International, Iowa, Lake Tahoe, Lawrence Ho, Louisiana, Marketing, Melco Crown Entertainment, MGM Mirage, Mississippi, Missouri, Ohio, Penn National, Philippines, Regulation, Reno, Sheldon Adelson, Stanley Ho, Steve Wynn, The Strip, Tribal, Wall Street
1 Comment
Illinois to act on DFS
Today, a bill is anticipated to be put in the hopper of the Illinois Legislature to regulate daily fantasy sports. The brainchild of Rep. Mike Zalewski (D), “it would create standards for auditing daily fantasy companies that want to do business … Continue reading
Posted in Dining, Illinois, Internet gambling, Politics, Regulation, Station Casinos, The Strip
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Caesars: New wine in old bottle; The house that poker built
Starting Jan. 1 (What? No New Year’s Eve bookings?), guests at Caesars Palace will have the chance to stay in the new Julius Tower. Except that it’s not really new: It’s the old Roman Tower, given a dramatic, $75 million … Continue reading
Posted in Architecture, California, Economy, Genting, Harrah's, Macau, Regulation, Sheldon Adelson, Singapore, Steve Wynn, The Strip
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Adelson crashes MGM’s party; More trouble for DFS
Sheldon Adelson has a genius for sucking the air out of whatever room he enters. After MGM Resorts International laid the groundwork for a casino debate in Georgia, offering to invest $1 billion in an Atlanta pleasure palace, Adelson has … Continue reading
Posted in Boyd Gaming, Donald Trump, Economy, Election, Florida, Georgia, International, Internet gambling, Kansas, Macau, Maryland, MGM Mirage, Penn National, Politics, Regulation, Sheldon Adelson, Singapore, The Strip
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All’s well at Penn; Mulroy’s misdeed; Discomfort at Studio City
Penn National Gaming pleasantly surprised Wall Street, reporting third-quarter revenue of $739 million and $210 million in cash flow, exceeding projections by $8 million and $11 million, respectively. It paid out $109 million in rent to Gaming & Leisure Properties … Continue reading
Posted in California, Economy, Galaxy Entertainment, GLPI, Illinois, Lawrence Ho, Macau, Marketing, Massachusetts, Melco Crown Entertainment, MGM Mirage, Missouri, Ohio, Penn National, Regulation, Sports, Steve Wynn, The Strip, Tribal, Wall Street
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Penn bullish on Trop; DraftKings can’t help itself
J.P. Morgan analyst Joseph Greff met with Penn National Gaming executives and found them very upbeat on the Tropicana Las Vegas, even though it grosses less than $54 million a year. “Of the three million Marquee Rewards members, Penn estimates … Continue reading
Posted in Internet gambling, Marketing, Penn National, Regulation, The Strip, Wall Street
2 Comments
James Packer thinks big; DFS’ self-inflicted wound
One scarcely thinks of Crown Resorts as anything but an upmarket brand. However, as it contemplates debuting in Las Vegas and pines after Japan, Crown is developing a new, luxury brand. The unlikely template will be a $1.1 billion, 90-story … Continue reading
Posted in Australia, California, Delaware, Illinois, James Packer, Japan, Macau, Mississippi, Ohio, Pennsylvania, Regulation, Sheldon Adelson, Sports, The Strip
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Steve Wynn’s an unhappy camper
A decade ago, Steve Wynn would badmouth doing business in Nevada and warble sweet hymns to that capitalist’s paradise, China. How times change. On yesterday’s quarterly earnings call, Wynn was apoplectic about the Chinese government’s shifting policies in re Macao. “In … Continue reading
Fourth time the charm?; Paging Sheldon Adelson
Gaming-management company Foundation Gaming Group likes DiamondJacks Casino in Vicksburg, it’s buying the place outright — a change of style for Foundation, which prefers running casinos to owning them. There may be some nostalgia in the decision by Foundation COO … Continue reading
Quote of the Day
“Mr. Trump says, ‘Make America great again.’ Well, the Trump workers say, ‘Start here.’” —Trump International Hotel employee Maria Elena Durazo, calling for unionization of the hotel at a rally attended by Hillary Rodham Clinton, as reported by the Las … Continue reading
Posted in Culinary Union, Donald Trump, Election, The Strip
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Turning point for Wynn; Breakthrough for PokerStars
Earlier this week, the Everett Planning Board unanimously assented to Wynn Everett‘s site plan. The Medford Patch described this vote as “the most critical local permit needed by Wynn.” The resort-to-be can start pulling building permits now, with the actual … Continue reading
Malaise in Macao; Celebration at G2E
Wall Street analysts having revised their expectations downward well beforehand, Macao‘s 33% decline in gaming revenues hardly came as a surprise. If anything, they expected worse. Deutsche Bank analyst Carlo Santarelli even noticed some “pre-Golden Week malaise” toward the end … Continue reading
Posted in Arizona, Economy, Entertainment, G2E, Harrah's, Macau, Melco Crown Entertainment, New York, Sheldon Adelson, The Strip, Tourism, Tribal, Wall Street, Wisconsin
3 Comments
Baccarat slays the Strip; Do gambling and pot mix?
Lack of a Labor Day weekend had a minimal effect on Nevada statewide gaming revenues in August (-1%). Lower and luckier baccarat play — 17% less drop and 24% less winnings for the house — hurt particularly (especially when one … Continue reading
Posted in Economy, Galaxy Entertainment, Macau, Maine, Massachusetts, Penn National, South Dakota, The Strip, Tribal, Wall Street
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