Category Archives: Tourism

May in Macao: Hey, it could be worse; Wynn in Boston: Why not?

Posted on June 1, 2015 by David McKee

That’s Wall Street‘s spin on a 37% decline in May gambling revenues. Writes Carlo Santarelli of Deutsche Bank, “We view the tightening with forecasts … as a modest positive for the group and an indication of a forming bottom.” In other … Continue reading →

Posted in Japan, Massachusetts, Penn National, Regulation, Sam Nazarian, Sheldon Adelson, Stanley Ho, Steve Wynn, Tourism, Transportation, Wall Street | Comments Off

Straub faces reality; Chinese players prefer Vegas

Posted on May 27, 2015 by David McKee

Reality continues to sink in at Revel, where Glenn Straub has thrown in the towel on reopening this summer — raising the prospect of a grand-reopening in the cold-weather months. Not very auspicious, that. Labor Day is the target date … Continue reading →

Posted in Atlantic City, Genting, Glenn Straub, Hard Rock International, Harrah's, Macau, MGM Mirage, Revel, Taxes, The Strip, Tourism, Trump Entertainment Resorts, Wall Street | Comments Off

Long road back for Macao; Phua case becomes a federal obsession

Posted on May 13, 2015 by David McKee

Macao‘s status as shorthand for “corruption” got another bump this week when it was announced that former bureaucrat Li Huabo had gambled away $4 million in the casino enclave, then absconded with $16 million in stolen. As deleterious as that … Continue reading →

Posted in Australia, Downtown, Economy, Harrah's, Macau, Philippines, Sheldon Adelson, SLS Las Vegas, Sports, The Strip, Tourism, Vietnam, Wall Street | Comments Off

Glenn Straub: The Omega Man

Posted on May 13, 2015 by David McKee

Glenn Straub‘s public image as an ADD-afflicted flake won’t be helped by a recent Bloomberg Business story that outlined the latest twist in his ever-shifting plans for Revel: Straub wants to turn it into a hotspot for cryogenics, of which … Continue reading →

Posted in Atlantic City, Donald Trump, Florida, Revel, Sports, Tourism, Transportation | 2 Comments

Adieu, Monte Carlo; Sunny April in Detroit

Posted on May 12, 2015 by David McKee

Judging from how it bastardized the Strip facade of Monte Carlo, it’s clear MGM Resorts International doesn’t quite know what to do with the place. CEO Jim Murren tacitly confirmed this recently when he said MGM was studying myriad options … Continue reading →

Posted in Architecture, CityCenter, Detroit, Harrah's, MGM Mirage, Station Casinos, The Strip, Tourism, Wall Street | Comments Off

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

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

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

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

Tightening the screws on Macao; While we were in recess

Posted on April 15, 2015 by David McKee

In what may come as bad news to casino operators, the Macao government is placing a quota on the number of mainland visitors the gaming enclave will allow per year: 21 million. On the other hand, the government is pivoting … Continue reading →

Posted in Atlantic City, Environment, Hard Rock International, Harrah's, LVCVA, Macau, Marketing, Ohio, Penn National, Pennsylvania, Regulation, Stanley Ho, Technology, Tourism | 2 Comments

Pansy Ho on the campaign trail; Connecticut tribes optimistic

Posted on April 13, 2015 by David McKee

MGM China would probably prefer that its co-chairwoman, Pansy Ho, stay out of the headlines, considering the negative publicity she’s generated over the years. But she opened up to the media this week, specifically the newspaper of which she is … Continue reading →

Posted in Downtown, Entertainment, Foxwoods, Hooters, Internet gambling, Macau, Massachusetts, MGM Mirage, Mohegan Sun, Movies, Palms, Pansy Ho, Pennsylvania, Regulation, The Strip, Tourism | Comments Off

Good year for Atlantic City

Posted on April 8, 2015 by David McKee

Boardwalker boosters like Glenn Straub who says Atlantic City‘s still got plenty of life in it can point to today’s headlines: The city’s casinos increased their operating profit last year by 45%. Unless you count the defunct Revel (-$48.5 million) … Continue reading →

Posted in Atlantic City, Boyd Gaming, Economy, Entertainment, Glenn Straub, Harrah's, Internet gambling, Marketing, MGM Mirage, Mohegan Sun, New York, Revel, Tilman Fertitta, Tourism, Trump Entertainment Resorts | 1 Comment

Macao: What, us worry?; Florida grapples with gambling

Posted on March 30, 2015 by David McKee

Two Hong Kong-based stock analysts recently met with the Macanese Gaming Inspection & Coordination Bureau. Much to their surprise, when they asked “what positive policy measures can be enacted to help stop the trend of negative gaming revenue growth,” they … Continue reading →

Posted in Economy, Florida, Horseracing, Idaho, Macau, Politics, Problem gambling, Racinos, Regulation, Sheldon Adelson, Tourism, Transportation, Tribal | Comments Off

Macao’s Great Recession; Caesars shreds contracts

Posted on March 17, 2015 by David McKee

Yes Virginia, there is a recession in Macao. With two consecutive quarters of negative GDP growth, the casino city meets Wall Street‘s definition of a recessionary economy. Eighty percent of Macanese revenue comes from gambling, so when the central government … Continue reading →

Posted in California, Economy, Entertainment, Harrah's, Louisiana, Macau, New York, Philippines, Planet Hollywood, Regulation, Sheldon Adelson, Sports, Steve Wynn, Tourism, Transportation, Wall Street | Comments Off

Caesars’ wheel of pain

Posted on March 3, 2015 by David McKee

“Loveman ‘fascinated’ by complexities of High Roller,” read one of today’s headlines. Perhaps he ought to be more fascinated by the complexities of Caesars Entertainment‘s bankruptcy, of which he is the undisputed architect. The company announced quarterly earnings yesterday, losing … Continue reading →

Posted in Dining, Entertainment, Harrah's, The Strip, Tourism, Wall Street | 3 Comments

Macao casinos squeezed again; Isle’s clean sweep

Posted on February 25, 2015 by David McKee

First, it was the corruption crackdown. Now, the Chinese government is reviewing visitation levels to Macao. As Macanese Secretary for Social Affairs & Culture Alexis Tam put it, “[T]oo many tourists impact residents’ quality of life.” That’s not music to casinos’ ears and … Continue reading →

Posted in Colorado, Florida, Isle of Capri, Louisiana, Macau, Melco Crown Entertainment, MGM Mirage, Mississippi, Missouri, Racinos, Regulation, Sheldon Adelson, Steve Wynn, Tourism, Wall Street | Comments Off

Trump wins battle against himself; Riviera’s fate sealed

Posted on February 23, 2015 by David McKee

Perpetual litigant Donald J. Trump has won the first round in his lawsuit against Trump Entertainment Resorts, whose minority shareholders include one Donald J. Trump. A bankruptcy judge in Delaware ruled that the suit can proceed. It contends that Trump … Continue reading →

Posted in Atlantic City, Donald Trump, Entertainment, Genting, James Packer, LVCVA, Riviera, The Strip, Tourism, Trump Entertainment Resorts, Westgate LV | 1 Comment

Why the Riviera deal stinks

Posted on February 18, 2015 by David McKee

Occasional S&G contributor Jeff in OKC shares some blunt sentiment about this week’s biggest story: the planned sale and demolition of the Riviera, the most venerable casino on the Las Vegas Strip: I’m 56. A 100% pure Baby Boomer, born in 1958. … Continue reading →

Posted in California, Derek Stevens, Economy, history, LVCVA, Riviera, Tourism | 8 Comments

Politicians desert Atlantic City; Cuomo dreams on

Posted on January 20, 2015 by David McKee

Despite four years of yeoman’s work repairing and altering Atlantic City‘s image, the Atlantic City Alliance is being abandoned like an orphan on the church steps. State Senate President Steve Sweeney (D, left) blamed the casinos for killing it off … Continue reading →

Posted in Atlantic City, Boyd Gaming, Cordish Co., Harrah's, Marketing, Maryland, New York, Pennsylvania, Politics, Tourism, Wall Street | Comments Off

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