Category Archives: Tribal

Boyd vs. Station II

Posted on February 26, 2009 by David McKee

Well, that was a waste of a good hour. Boyd Gaming teased its Thursday morning conference call with intimations that All (or at least Some) Would Be Revealed about its surprise bid for most of the assets of Station Casinos. … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, Downtown, Economy, Florida, Harrah's, Indiana, Louisiana, Station Casinos, The Strip, Tribal, Wall Street | Comments Off on Boyd vs. Station II

Case Bets: Penn in Vegas, Fontainebleau, Fine Cotton R.I.P.

Posted on February 21, 2009 by David McKee

Phil Hevener, the guy who was onto the Imperial Palace sale before anyone else, says Penn National pitched offers for not only The Mirage but also Caesars Palace … at insultingly low EBITDA multiples (see bottom of story). The Strip … Continue reading →

Posted in Australia, Boyd Gaming, Fontainebleau, Harrah's, Horseracing, MGM Mirage, Penn National, The Strip, Tribal | Comments Off on Case Bets: Penn in Vegas, Fontainebleau, Fine Cotton R.I.P.

Trump: The end

Posted on February 21, 2009 by David McKee

So Trump Entertainment Resorts has such little worth that it’s facing delisting, having become quite literally a penny stock. In a move described as “petulant,” not only is Donald Trump taking his ball and going home, he wants the name … Continue reading →

Posted in Atlantic City, Don Barden, Donald Trump, Economy, Pennsylvania, Tribal, TV, Wall Street | Comments Off on Trump: The end

Case Bets: Penn in Vegas, Fontainebleau, Fine Cotton R.I.P.

Posted on February 21, 2009 by David McKee

Phil Hevener, the guy who was onto the Imperial Palace sale before anyone else, says Penn National pitched offers for not only The Mirage but also Caesars Palace … at insultingly low EBITDA multiples. The Strip has seen much better … Continue reading →

Posted in Australia, Boyd Gaming, Fontainebleau, Harrah's, Horseracing, MGM Mirage, Penn National, The Strip, Tribal | Comments Off on Case Bets: Penn in Vegas, Fontainebleau, Fine Cotton R.I.P.

Looking for good news in Vegas

Posted on February 12, 2009 by David McKee

If I wanted to drive myself to strong drink, I could write about depressing, atrocious numbers coming out of Nevada casinos in December. But as that great philosopher, Linus in Peanuts, would remind me, it's better to light a single … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, Downtown, Economy, Gary Goett, George Maloof, Harrah's, Laughlin, MGM Mirage, Michael Gaughan, Morgans Hotel Group, Station Casinos, Tamares Group, Texas, The Strip, Tilman Fertitta, Tribal, Wall Street | Comments Off on Looking for good news in Vegas

Case Bets: Seminoles, Tropicana, Shuffle Master, Stanley Ho

Posted on February 3, 2009 by David McKee

Seminoles offer to lay $288 million and 12,000 new jobs on the table, for starters. Sunshine State Republicans blow them a raspberry. Constitutional or not, Gov. Charlie Crist‘s compact put a good deal in place for both sides. (It wasn’t … Continue reading →

Posted in Aristocrat, Atlantic City, Australia, Columbia Sussex, Florida, Politics, Regulation, Shuffle Master, Stanley Ho, The Strip, Tribal, Tropicana Entertainment | Comments Off on Case Bets: Seminoles, Tropicana, Shuffle Master, Stanley Ho

Case Bets: CityCenter, Detroit, Boyd in Indiana

Posted on January 19, 2009 by David McKee

CityCenter: Cash cow or calf of gold? It’s received wisdom that, in its worship of the Golden Calf known as CityCenter, half-owner MGM Mirage is prepared to sacrifice some of its high-value properties, including MGM Grand Detroit, even in the … Continue reading →

Posted in Boyd Gaming, Economy, G2E, Indiana, Kansas, Macau, Marketing, MGM Mirage, Station Casinos, The Strip, Tribal, Wall Street | Comments Off on Case Bets: CityCenter, Detroit, Boyd in Indiana

21

Posted on December 31, 2008 by David McKee

That's the number of predictions for 2009 issued by Spectrum Gaming Group, an Atlantic City-based outfit. They are, in no particular order: • Advancements in technology that impact revenues and cut costs will continue to be attractive to operators even … Continue reading →

Posted in Boyd Gaming, Colony Capital, Columbia Sussex, Cosmopolitan, Current, Don Barden, Economy, Harrah's, Herbst Gaming, IGT, International, Internet gambling, Isle of Capri, Macau, Marketing, MGM Mirage, Morgans Hotel Group, Pinnacle Entertainment, Politics, Regulation, Sheldon Adelson, Station Casinos, Steve Wynn, Technology, Tribal, Wall Street | Comments Off on 21

Quote of the Day

Posted on December 18, 2008 by David McKee

"[T]he fact that he's from a somewhat Western state is good." — a congressional spokesman, reacting to the nomination of Sen. Ken Salazar to head the Interior Department. Salazar is from the "somewhat" (but apparently not very) Western state of … Continue reading →

Posted in Colorado, Current, Tribal | Comments Off on Quote of the Day

Fire sale at Harrah's, MGM?

Posted on November 17, 2008 by David McKee

That was one of the bombshells dropped this morning at Global Gaming Expo. According to a member of a "state of the industry" panel of G2E's Casino Design track, Harrah's Entertainment has several unprofitable properties that were for sale. "Now … Continue reading →

Posted in Architecture, California, Donald Trump, Economy, G2E, Harrah's, International, MGM Mirage, The Strip, Tribal | Comments Off on Fire sale at Harrah's, MGM?

Winners & Losers

Posted on November 5, 2008 by David McKee

And now the obligatory post-Election, What’s-it-all-about-Alfie roundup … Culinary Union 1, Casino CEOs O: True, the Culinary tripped all over its own feet in the early going, leading to Democratic caucuses that weren’t so much “Barackular” as “debacular.” But D. … Continue reading →

Posted in Alaska, Ameristar, Atlantic City, California, Colorado, Current, Donald Trump, Economy, Election, Florida, Gary Goett, Harrah's, IGT, Internet gambling, MGM Mirage, Mississippi, Missouri, Pinnacle Entertainment, Politics, Sheldon Adelson, Steve Wynn, Taxes, The Strip, Tribal, Wall Street | Comments Off on Winners & Losers

Case Bets: Sands bankruptcy?; California spite, Ted Binion still dead, etc.

Posted on October 24, 2008 by David McKee

The ‘B’ word. Yup, somebody finally said it. Stifel Nicolaus & Co. analyst Steven Wieczynski blames The Big Sands Sell-off on fears that “Las Vegas Sands is in jeopardy of running out of cash and going bankrupt.” Sands stock closed … Continue reading →

Posted in Animals, California, Election, Harrah's, Marketing, MGM Mirage, Politics, Sheldon Adelson, The Strip, Tribal, TV, Wall Street | Comments Off on Case Bets: Sands bankruptcy?; California spite, Ted Binion still dead, etc.

Happy anniversary, you're fired

Posted on October 6, 2008 by David McKee

That was essentially the message conveyed to several dozen workers at MGM Grand Detroit as the hotel-casino passed its first anniversary. Such cutbacks are usually routine in the industry and this one affected but a fraction of a percentage of … Continue reading →

Posted in Atlantic City, Boyd Gaming, Detroit, Gary Goett, Harrah's, MGM Mirage, Tribal, Wall Street | Comments Off on Happy anniversary, you're fired

Mohegan Sun in Kansas: D'oh!

Posted on September 22, 2008 by David McKee

A reader in Oklahoma City points out an obvious reason — one which I somehow managed to completely overlook — why the Kansas Lottery‘s casino-selection panel didn’t go with Mohegan Sun, which I foolishly thought to be a prohibitive favorite. … Continue reading →

Posted in Downtown, Kansas, Regulation, Tribal | Comments Off on Mohegan Sun in Kansas: D'oh!

Kansas, Round 2: It's Cordish!

Posted on September 19, 2008 by David McKee

OK, I was wrong. Incredibly wrong. As you’ll hear on the next Vegas Gang podcast, I stuck by my prediction that Kansas‘ largest casino contract, the one for the greater Kansas City area, would go to Mohegan Sun. Why? Biggest … Continue reading →

Posted in Atlantic City, Columbia Sussex, Current, Golden Gaming, Kansas, Mississippi, Penn National, Pinnacle Entertainment, Sheldon Adelson, Tribal, Tropicana Entertainment | Comments Off on Kansas, Round 2: It's Cordish!

Alaska nixes gambling; Politics here, Harrah's there

Posted on September 2, 2008 by David McKee

With Alaska and its governor all over the news of late, I got to wondering what had become of that ballot initiative, backed by bar owners, to expand gambling in Alaska. As it happens, the initiative was voted down, the … Continue reading →

Posted in Alaska, Detroit, Election, Internet gambling, Kansas, Politics, Tribal | Comments Off on Alaska nixes gambling; Politics here, Harrah's there

Trop turnaround?

Posted on August 12, 2008 by David McKee

While the New Jersey Casino Control Commission continues to bobble the sale of the Atlantic City Tropicana, at least its stewardship has arrested and perhaps finally the property's decline. While a 5.5% decline in business is nothing to crow over, … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colorado, Columbia Sussex, Donald Trump, Harrah's, Kansas, Station Casinos, Tribal | Comments Off on Trop turnaround?

Don't tax me, bro!

Posted on August 6, 2008 by David McKee

Guess who's kvetching about his property tax bill? Why it's our old buddy, Columbia Sussex CEO William J. Yung III — or at least his surrogates at Horizon Vicksburg. It's been the better part of a year since Yung announced … Continue reading →

Posted in Atlantic City, Columbia Sussex, Kansas, Mississippi, Morgans Hotel Group, Pennsylvania, Pinnacle Entertainment, Sheldon Adelson, Taxes, Tribal | Comments Off on Don't tax me, bro!

Isle reduces risk in Florida

Posted on August 5, 2008 by David McKee

As we’re seeing, it’s not always a bad idea to scrap or delay an expansion. Such is the case with Isle of Capri‘s decision to allow the expiration of an agreement with Florida Gaming Corp. to turn Miami Jai-Alai into … Continue reading →

Posted in Boyd Gaming, Florida, Isle of Capri, Kansas, Tribal | Comments Off on Isle reduces risk in Florida

Ameristar: What makes sense?

Posted on August 1, 2008 by David McKee

Perhaps this is what happens when you outsource your business coverage to India, but Reuters had a story yesterday positing MGM Mirage and Harrah's Entertainment as two of the likeliest buyers for Ameristar Casinos. Uhhh, I hate to break this … Continue reading →

Posted in Ameristar, Boyd Gaming, Downtown, Harrah's, James Packer, MGM Mirage, Mississippi, Missouri, Penn National, Pinnacle Entertainment, The Strip, Tribal, Wall Street | Comments Off on Ameristar: What makes sense?