Category Archives: The Strip

Station is back; MGM’s praises sung

Posted on February 18, 2015 by David McKee

When the Great Recession struck, no company was more ill-positioned to weather it than Station Casinos. A few tribal contracts aside, all of Station’s eggs were in the Las Vegas basket. To put it another way, Vegas may have gotten … Continue reading →

Posted in California, Detroit, Economy, Hard Rock International, Macau, MGM Mirage, Mississippi, Riviera, Station Casinos, The Strip, Tribal, Wall Street, Wisconsin | Comments Off on Station is back; MGM’s praises sung

Riviera’s fate sealed

Posted on February 17, 2015 by David McKee

… or soon will be. On Friday, the Las Vegas Convention & Visitors Authority is holding a board meeting at which the future of the venerable hotel-casino will be decided. On the table is a $182.5 million purchase, which values … Continue reading →

Posted in Fontainebleau, LVCVA, Movies, Riviera, Technology, The Strip, Westgate LV | Comments Off on Riviera’s fate sealed

Adieu, Riviera?

Posted on February 16, 2015 by David McKee

Is Las Vegas‘ oldest Strip casino facing a date with the wrecking ball? Last week, LVA broke the news that — at least according to one of our sources — the Riviera was being sold to the Las  Vegas Convention … Continue reading →

Posted in Internet gambling, LVCVA, New Hampshire, PokerStars, Politics, Riviera, The Strip | 2 Comments

Whither Bally’s?; Boffo January for Atlantic City

Posted on February 12, 2015 by David McKee

From publicly mulling a Horseshoe rebranding to talk of a new hotel tower, Caesars Entertainment has never seemed to know quite what to do with Bally’s Las Vegas, white elephant of its parade of Strip casinos. The Las Vegas Weekly‘s … Continue reading →

Posted in Atlantic City, Boyd Gaming, Economy, Entertainment, Harrah's, Internet gambling, Marketing, MGM Mirage, Mohegan Sun, Taxes, The Strip, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts | Comments Off on Whither Bally’s?; Boffo January for Atlantic City

Could saturation have peaked?

Posted on February 10, 2015 by David McKee

It’s a banner day when casino revenues in Illinois grow 8.5%. It’s no illusion: In context, $115.5 million is a pretty good haul. A downward spiral in gas prices may already be showing up in slot hoppers and drop boxes. … Continue reading →

Posted in Ameristar, Boyd Gaming, Economy, Entertainment, Foxwoods, GLPI, Harrah's, Illinois, Isle of Capri, MGM Mirage, Mohegan Sun, Neil Bluhm, Penn National, Pinnacle Entertainment, The Strip, Tropicana Entertainment, Wall Street, Warner Gaming | 1 Comment

Leaning Tower of Vegas

Posted on February 10, 2015 by David McKee

OK, the Clarion/Greek Isles/Royal Resort/Royal Americana/Paddlewheel and erstwhile Debbie Reynolds Hollywood Hotel wasn’t a grand implosion and there was a bit of a malfunction with the elevator core, what? But we’ll take what we can get when it comes to … Continue reading →

Posted in history, The Strip | 2 Comments

Addition in Mississippi; Subtraction in Atlantic City; Gluttony in Las Vegas

Posted on January 29, 2015 by David McKee

It was all there in black and white: $935 million in state and federal taxes paid, and $4 billion in economic. That’s what Mississippi casinos achieved, despite two closures. “The numbers reflect we’re doing OK here in Mississippi,” understated Mississippi Gaming & … Continue reading →

Posted in Atlantic City, Dining, Economy, Glenn Straub, Louisiana, Marketing, Mississippi, Missouri, Revel, Taxes, The Strip | 1 Comment

Dismay in Wisconsin; Disorder at SLS

Posted on January 29, 2015 by David McKee

Wisconsin Gov. Scott Walker (R) has managed to bring Democrats and Republicans together — in opposition to his decision to nix a proposed Menominee Nation casino. Lawmakers cited the $250 million bond posted by the Menominee and the tribe’s promise … Continue reading →

Posted in Dining, Economy, Illinois, International, Internet gambling, James Packer, Politics, Regulation, Sam Nazarian, The Strip, Tribal, Wisconsin | Comments Off on Dismay in Wisconsin; Disorder at SLS

Weak quarter for Las Vegas Sands; Penn weathers a blow

Posted on January 29, 2015 by David McKee

There was definitely some grit in the 4Q14 financial results for Las Vegas Sands‘ Strip properties. Table play was down $102 million, or 16%. And those players who showed up played lucky. Table revenue was down 26%, or $37 million. … Continue reading →

Posted in California, Election, Harrah's, Indiana, Japan, Macau, Massachusetts, MGM Mirage, Penn National, Racinos, Sheldon Adelson, Singapore, The Strip, Tribal, Wall Street, West Virginia | Comments Off on Weak quarter for Las Vegas Sands; Penn weathers a blow

Super Bawl

Posted on January 28, 2015 by David McKee

Never mind that it’s one of the biggest weekends in Sin City, the National Football League continues to stick its fingers in its ears when it comes to casinos that dare whisper the words “Super Bowl.” Not only must Las Vegas … Continue reading →

Posted in Architecture, Arizona, Economy, Geoff Freeman, Regulation, Sports, The Strip, Tribal | Comments Off on Super Bawl

Where will the Caesars fight be fought?

Posted on January 26, 2015 by David McKee

In the battle between Caesars Entertainment and its dissident creditors, the opening route — the choice of venue — may be the decisive one. As noted previously, Caesars wants the case heard in Chicago and not in Wilmington, even though … Continue reading →

Posted in Delaware, Economy, Harrah's, Illinois, Macau, Massachusetts, MGM Mirage, Sports, The Strip, Wall Street | Comments Off on Where will the Caesars fight be fought?

New chief at Resorts World; Pay cut for Wynn

Posted on January 21, 2015 by David McKee

In a change of horses that might kick-start development of dormant Resorts World Las Vegas, boss Christian Goode is out, replaced by Gerald Gardner, a former top aide to Nevada Gov. Brian Sandoval. The groundbreaking for the project has now … Continue reading →

Posted in Charity, Cordish Co., Florida, Genting, Harrah's, Maryland, New York, Steve Wynn, The Strip | Comments Off on New chief at Resorts World; Pay cut for Wynn

Straub holds Revel hostage; Caesars cutbacks begin

Posted on January 21, 2015 by David McKee

Revel continues to be a bone of contention. Utility supplier ACR Energy Partners is leading a group of creditors attempting to block the sale of Revel to Glenn Straub. The latter, they assert, could simply walk away from all contracts, claims, … Continue reading →

Posted in Atlantic City, Carl Icahn, Dining, Glenn Straub, Harrah's, Revel, The Strip, Trump Entertainment Resorts | 1 Comment

Celebrity Caesars investors get clipped

Posted on January 20, 2015 by David McKee

As the opposing sides entrench for an acrimonious battle over the assets of Caesars Entertainment, a few early losers are emerging. Unsecured creditor Robert DeNiro‘s Nobu in Caesars Palace is owed $459,964 and loud-mouthed chef Gordon Ramsay can yell all he … Continue reading →

Posted in Atlantic City, Boyd Gaming, Charity, Dining, Harrah's, Internet gambling, New York, Reno, The Strip, Tourism, Transportation, World Series of Poker | Comments Off on Celebrity Caesars investors get clipped

Caesars bankruptcy stymied; Big Total Rewards payday

Posted on January 19, 2015 by David McKee

Just when it looked like Gary Loveman & Co. were going to get away with murder in the Caesars Entertainment Operating Co. bankruptcy, U.S. District Judge Shira Scheindlin said, in essence, ‘Not so fast.’ Judge Scheindlin found the movement of assets … Continue reading →

Posted in Entertainment, Harrah's, Marketing, South Korea, The Strip, Wall Street | Comments Off on Caesars bankruptcy stymied; Big Total Rewards payday

Loveman succeeds: Caesars bankrupt

Posted on January 15, 2015 by David McKee

Not wasting any time, CEO Gary Loveman put Caesars Entertainment Operating Co. into Chapter 11 today, filing the motion in Chicago to circumvent a Delaware lawsuit. (The reason for the Windy City filing may go a lot deeper than proximity … Continue reading →

Posted in Boyd Gaming, Delaware, Economy, GLPI, Harrah's, Illinois, Lake Tahoe, Louisiana, Mississippi, New York, Penn National, Pinnacle Entertainment, Racinos, The Strip, Tilman Fertitta, Wall Street | Comments Off on Loveman succeeds: Caesars bankrupt

Cuomo’s New York mess thickens

Posted on January 14, 2015 by David McKee

Bowing to pressure from New York State Gov. Andrew Cuomo (D), the Gaming Facility Location Board is starting the clock on a new round of bidding for casinos in the state’s thinly populated Southern Tier. It didn’t draw much interest last … Continue reading →

Posted in Economy, International, James Packer, LVCVA, New York, Philippines, Regulation, South Korea, Sports, Technology, The Strip, Transportation | Comments Off on Cuomo’s New York mess thickens

Caesars’ hand forced; Pick a peck of Packer

Posted on January 14, 2015 by David McKee

Efforts by Appaloosa Management and others to push Caesars Entertainment Operating Co. into an involuntary bankruptcy have lit a fire under Caesars. The company is moving its planned bankruptcy filing up from Jan. 20 to tomorrow.  Appaloosa and cohorts Tennenbaum Capital Partners … Continue reading →

Posted in Genting, Geoff Freeman, Harrah's, James Packer, Movies, Philippines, Politics, The Strip, Wall Street | Comments Off on Caesars’ hand forced; Pick a peck of Packer

Wynn proceeds in Boston, Genting stalls in Miami

Posted on January 9, 2015 by David McKee

Although Steve Wynn‘s Everett project is besieged with lawsuits, a member of the Massachusetts Gaming Commission is relatively sanguine about the resort’s prospects. “I don’t think necessarily the suit will delay it; I think it is the various permit-granting authorities … Continue reading →

Posted in Florida, Genting, International, Massachusetts, New York, Regulation, Sports, The Strip | 1 Comment

Caesars, bankrupt, rewards Loveman

Posted on January 8, 2015 by David McKee

Both sides in the Caesars Entertainment bankruptcy are playing hardball. According to Bloomberg News, senior bondholders don’t care for what Caesars is offering and want a bigger payday. “Investors who say they own $1.6 billion in Caesars first-lien notes hired … Continue reading →

Posted in Harrah's, Louisiana, South Korea, The Strip, Wall Street | 1 Comment