Category Archives: The Strip

More trouble for Caesars; Slot routes corrode casino revenues

Posted on May 12, 2015 by David McKee

Caesars Entertainment will soon have a new unsecured creditor — Uncle Sam. The company is trying to negotiate a settlement with the Financial Crimes Enforcement Network. The tab for making things right with The Man could run to $20 million and … Continue reading →

Posted in Dan Gilbert, Environment, Harrah's, Illinois, Missouri, Ohio, Pennsylvania, Racinos, Regulation, Slot routes, The Strip, West Virginia | 1 Comment

Hooters sold (again); Fat lady sings for Opera House

Posted on May 11, 2015 by David McKee

If someone with deep pockets wants to gamble on a big recovery on the Las Vegas Strip, then Spectrum Group Management would like to have a chat with them. Spectrum holds title to optimistically slugged “Project Jackpot,” just north of … Continue reading →

Posted in Ameristar, Dotty's, Genting, Harrah's, Hooters, Isle of Capri, MGM Mirage, Missouri, North Las Vegas, Penn National, Pinnacle Entertainment, Steve Wynn, The Strip, Tropicana Entertainment, Wall Street | 2 Comments

Quote of the Day

Posted on May 11, 2015 by David McKee

“What will the second quarter look like in Las Vegas? Weak. Did you hear me? Weak. This notion of a big recovery is a complete dream.” — Steve Wynn, waxing pessimistic on Las Vegas’ near-term prospects.

Posted in Economy, Steve Wynn, The Strip, Tourism | 1 Comment

For sale (?): One casino, heavily used

Posted on May 8, 2015 by David McKee

We have information that we trust, but have not been able to confirm. It concerns the immediate future of Hooters Casino Hotel. Never has there been such an inverse proportional ratio between the quality of a casino and speculation about its next … Continue reading →

Posted in Hooters, The Strip, Wall Street | 1 Comment

Carey: raptures and wreckage; Vegas’ affordability tested

Posted on May 8, 2015 by David McKee

Our most giddy local gossip merchant experienced multiple verbal orgasms when describing Mariah Carey‘s Caesars Palace residency show. Even the Second Coming of Jesus Christ would have a hard time living up to this nonstop gush. (Helpful hint: If Carey … Continue reading →

Posted in Entertainment, Florida, Harrah's, Massachusetts, MGM Mirage, Politics, Sports, The Strip, Tourism, Transportation, Tribal | 1 Comment

Why is this man smiling?; Adelson’s latest antics

Posted on May 8, 2015 by David McKee

Bankruptcy’s been good to Caesars Entertainment. For CEO Gary Loveman‘s final earnings call prior to yielding his title to Mark Frissora, the company gift-wrapped him a $7.6 billion profit on net revenue of $1 billion. If that sounds surrealistic, it’s due to … Continue reading →

Posted in Atlantic City, Harrah's, Internet gambling, Maryland, Penn National, Pennsylvania, Politics, Regulation, Scientific Games, Sheldon Adelson, Steve Wynn, The Strip, Wall Street, West Virginia | Comments Off on Why is this man smiling?; Adelson’s latest antics

Crystals for sale again; Hit-and-run Sheldon

Posted on May 5, 2015 by David McKee

MGM Resorts International isn’t hurting for cash, having just posted a $170 million profit for 1Q15, far outstripping analysts’ projections (and despite an 11% falloff due to Macao). However, its Crystals shopping mall is back on the market, carrying a $1 … Continue reading →

Posted in Economy, history, Macau, MGM Mirage, Riviera, Sheldon Adelson, SLS Las Vegas, Sports, The Strip, Westgate LV | Comments Off on Crystals for sale again; Hit-and-run Sheldon

Quote of the Day

Posted on May 5, 2015 by David McKee

“The amazing thing about Las Vegas is how soon it forgets itself because it keeps reinventing itself.” — Splash choreographer Jeff Kutash on the closing of the Riviera, which took place at noon yesterday.

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

Chicago casino push gathers steam

Posted on May 4, 2015 by David McKee

It’s been a while since we’ve heard about a casino in Chicago but that doesn’t mean Mayor Rahm Emanuel (D, below) has given up. Far from it. He’s looking at a $839 million pension obligation and a $300 million budget … Continue reading →

Posted in Cirque du Soleil, Economy, Entertainment, Illinois, MGM Mirage, Politics, Racinos, Slot routes, The Strip | Comments Off on Chicago casino push gathers steam

MGM: The lion meows; GLPI: Still hungry

Posted on May 4, 2015 by David McKee

MGM Resorts International needed to increase net revenue this past quarter by 2% to meet Wall Street forecasts and offset inflation. Instead, revenue stayed flat and the Leo the Lion came in $33 million on cash-flow forecasts and down $12 … Continue reading →

Posted in CityCenter, Economy, GLPI, Louisiana, Macau, Maryland, MGM Mirage, Penn National, Pinnacle Entertainment, The Strip, Wall Street | Comments Off on MGM: The lion meows; GLPI: Still hungry

The world according to Wynn

Posted on May 1, 2015 by David McKee

Nobody likes a sore winner and Steve Wynn has nothing but unkind words for Elaine Wynn, a week after she was voted off the Wynn Resorts board. His dismissive attitude toward her criticisms of the board’s composition makes me skeptical … Continue reading →

Posted in Economy, Election, Macau, MGM Mirage, Sheldon Adelson, Sports, Steve Wynn, The Strip | 1 Comment

Boyd shatters expectations; Dover Downs flounders

Posted on May 1, 2015 by David McKee

Compared to Steve Wynn‘s gloom — and sapped stock price — about Las Vegas’ immediate economic prospects earlier this week, Boyd Gaming CEO Keith Smith was bullish on Sin City. And why not? Boyd reported profits of 31 cents a … Continue reading →

Posted in Architecture, Boyd Gaming, Delaware, Downtown, Economy, Iowa, Kansas, Louisiana, Planet Hollywood, Racinos, Sports, Taxes, The Strip, Tourism, Wall Street | 1 Comment

Wynn frustrated with Macao; Adelson vs. Adelson

Posted on April 30, 2015 by David McKee

“Macau giveth and Macau taketh away for Wynn Resorts.” With that sentence the Las Vegas Review-Journal‘s Richard Velotta pithily summarized the precipitous reliance that Wynn and other Macanese operators have on that unpredictable market. “Our hopes for a turnaround during Chinese … Continue reading →

Posted in Economy, history, Macau, Regulation, Sheldon Adelson, Steve Wynn, The Strip, Wall Street | 1 Comment

The perils of Pence; Court prods Caesars

Posted on April 30, 2015 by David McKee

Indiana‘s casinos are now officially at the mercy of Gov. Mike Pence (R). The Hoosier State’s General Assembly passed a compromise bill that has something for the casinos (transplanting to terra firma) and something for Pence, namely a five-year moratorium on … Continue reading →

Posted in Atlantic City, Entertainment, Harrah's, Illinois, Indiana, Planet Hollywood, Politics, Racinos, Riviera, Taxes, The Strip, Tribal, Tropicana Entertainment | Comments Off on The perils of Pence; Court prods Caesars

MayPac: Winners and losers; Adelson, Wynn take big hits

Posted on April 30, 2015 by David McKee

Not a punch has been thrown yet but already we know some things about the outcome of the hype-driven Floyd “Money” Mayweather and Manny “Pac-Man” Pacquiao fight, including the fact that with guaranteed purses for both fighters, they win just … Continue reading →

Posted in Economy, Macau, Massachusetts, MGM Mirage, New Hampshire, Politics, Sheldon Adelson, Sports, Steve Wynn, The Strip, Tourism | Comments Off on MayPac: Winners and losers; Adelson, Wynn take big hits

Quote of the Day

Posted on April 29, 2015 by David McKee

“Outside the cabaret now called Le Bistro Lounge, however, the Riviera looked seedy, its decor suggesting that Jimmy Carter was still in the White House: pinball machines, worn carpet, old men in wheelchairs and oxygen masks joylessly playing the slot … Continue reading →

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

Elaine Wynn has left the building

Posted on April 24, 2015 by David McKee

Votes are still being audited but the bottom line from Wynn Resorts‘ board election is this: Elaine Wynn is out and the company’s two preferred candidates have been reelected. “The manner in which the existing board has handled the company’s third-largest … Continue reading →

Posted in Macau, Politics, Steve Wynn, The Strip, TV, Wall Street | 1 Comment

Sands, Penn and Pinnacle report

Posted on April 23, 2015 by David McKee

“Tough to find positives … worse than feared” were the attention-grabbing headlines on Deutsche Bank analyst Carlo Santarelli‘s summary of Las Vegas Sands‘ first-quarter report. Of the crisis in Macao, he wrote, “While management remains optimistic with respect to cost … Continue reading →

Posted in California, GLPI, Indiana, Louisiana, Macau, Massachusetts, MGM Mirage, Missouri, Penn National, Pinnacle Entertainment, Racinos, Sheldon Adelson, Singapore, The Strip, Tribal, Wall Street | Comments Off on Sands, Penn and Pinnacle report

Phua case goes “poof!”; Texas casinos a mission impossible

Posted on April 20, 2015 by David McKee

A federal case against an unlicensed, do-it-yourself sports book collapsed like a pup tent when a federal judge tossed out both the premise of an FBI search and, by extension, the evidence gathered therefrom. In a warrantless search, G-men cut … Continue reading →

Posted in Atlantic City, Environment, Harrah's, Internet gambling, Iowa, Louisiana, Politics, Problem gambling, Racinos, Regulation, Texas, The Strip, Tribal | Comments Off on Phua case goes “poof!”; Texas casinos a mission impossible

Revel: Crippled giant; Tough choice in Indiana

Posted on April 13, 2015 by David McKee

It may feel good for Glenn Straub to spit defiance (“We will never give in to blackmail. Let them dig their own grave, along with endangering other peoples’ lives.”) at the ACR power plant that just cut off water and … Continue reading →

Posted in Architecture, Atlantic City, Economy, Glenn Straub, Indiana, Marketing, MGM Mirage, Politics, Revel, The Strip | 1 Comment