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- Atlantic City rebounds; Sibella dumped; NFL suspicions
- MGM limping back; Atlantic City follies; Wall Street Jottings
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- David McKee on You can’t fix stupid; Good-bad news on the bayou
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- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
- David McKee on Sibella scandal spreads; Supremes forestall Seminoles
- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
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Category Archives: Wall Street
Station, Culinary at it again; Attack of the Russian slot cheats
After reaching a fragile labor peace with Station Casinos, the Culinary Union is heading for another scrum with the company, publishing a petition to “Stations Casino” [sic!], detailing various and sundry workplace complaints, such as “first aid supplies were not … Continue reading
Posted in California, Culinary Union, Georgia, International, Law enforcement, MGM Mirage, New York, Penn National, Politics, South Carolina, Station Casinos, Technology, Tribal, Tropicana Entertainment, Wall Street
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Sports betting a political football; Lucky Dragon doing just fine
Lawmakers in Maryland are entering the fray over sports betting. Unlike their counterparts in New Jersey, they’re not challenging the federal government directly. The proposed law, as drafted, would make sports betting legal in the Free State *if* the Bradley … Continue reading
Posted in Ameristar, Boyd Gaming, Cordish Co., Delaware, Dining, Donald Trump, Georgia, GLPI, Harrah's, Hawaii, Internet gambling, Isle of Capri, Lucky Dragon, Macau, Maryland, MGM Mirage, Mississippi, Missouri, Neil Bluhm, New York, Penn National, Philippines, Pinnacle Entertainment, Politics, Racinos, Singapore, Sports, Steve Wynn, The Strip, Tourism, Tropicana Entertainment, Wall Street
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MGM National Harbor a hit with players; Fertitta talks a good game
Given its high profile, MGM National Harbor had to hit a home run for MGM Resorts International and, judging by the numbers, it’s done just that. Last month it grossed $49 million, which — when the numbers are adjusted to … Continue reading
Posted in Boyd Gaming, Cordish Co., Downtown, GLPI, Golden Gaming, Goldman Sachs, Harrah's, Illinois, Louisiana, Maryland, MGM Mirage, Mississippi, Neil Bluhm, Nevada, New York, Penn National, Politics, Racinos, Regulation, Sheldon Adelson, Slot routes, Sports, Station Casinos, The Strip, Tilman Fertitta, Wall Street, West Virginia
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Penn National backpedals; Feral bunnies terrorize Vegas
Penn National Gaming released fourth-quarter numbers and, according to Deutsche Bank‘s Carlo Santarelli acknowledged a “difficult start” at Hollywood Jamul (this despite having an extra-long runway to get the new property aloft). Santarelli called the tribal casino a “drag” on … Continue reading
Posted in Animals, Atlantic City, California, Dining, Donald Trump, Election, Glenn Straub, GLPI, Hard Rock International, history, Illinois, Iowa, Japan, Macau, Marketing, Penn National, Regulation, Revel, Sheldon Adelson, Slot routes, Steve Wynn, Technology, The Strip, Tribal, Trump Entertainment Resorts, Wall Street, West Virginia
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Adelson out of stadium deal; Tepid December on Strip
It didn’t take long for Sandoval’s Folly, the mooted [your city here] Raiders stadium to blow up in the governor’s face. With characteristic irascibility, Las Vegas Sands CEO Sheldon Adelson withdrew from the project, taking his $650 million with him. … Continue reading
Posted in Boulder Strip, Cordish Co., Cretins, Downtown, Economy, Foxwoods, GLPI, Harrah's, Horseracing, Japan, Laughlin, Maryland, MGM Mirage, Mohegan Sun, Nevada, North Las Vegas, Penn National, Politics, Regulation, Reno, Sheldon Adelson, Sports, The Strip, Tribal, Virginia, Wall Street, West Virginia
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Wynn Palace a work in progress; Hawaii ponders i-gaming
Wall Street analysts were pleasantly surprised by the latest results from Wynn Palace, which exceeded expectations. As JP Morgan analyst Joseph Greff wrote, the Palace “has reconfigured the main casino floor (mass market), adding new slot/poker sections and opening up … Continue reading
Posted in Delaware, Economy, Hawaii, Internet gambling, Macau, Massachusetts, Neil Bluhm, Nevada, Penn National, Pennsylvania, Regulation, Sheldon Adelson, Steve Wynn, Technology, The Strip, Wall Street
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Ideas plentiful, funding scarce
Maybe the third try will be the charm. Australian entrepreneur Josh Kearney has announced an $800 million, extreme-sports-themed resort, to arise just northeast of Town Square Mall (built on the grave of the troubled Vacation Village Casino). The Edge, as … Continue reading
Posted in Australia, Economy, history, International, James Packer, Law enforcement, Lucky Dragon, Macau, Steve Wynn, The Crown 18, The Strip, Tribal, Wall Street, Wisconsin
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Lukewarm Christmas in Louisiana; New casino for Indiana?
Despite an extra weekend in December, Louisiana gaming revenues were only modestly up, +4%, although gambling fever sure gripped Baton Rouge, where casinos won 14% more than last year. New Orleans has fallen to a distant third ($47 million) as … Continue reading
Posted in Boyd Gaming, California, Churchill Downs, Dan Lee, Florida, Full House Resorts, GLPI, Harrah's, Indiana, Isle of Capri, Louisiana, Maryland, MGM Mirage, Penn National, Pinnacle Entertainment, Racinos, Seminole Tribe, Taxes, The Strip, Tilman Fertitta, Tribal, Tropicana Entertainment, Wall Street, West Virginia
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Caesars liberated from bankruptcy; Wynn pitches tantrum
It’s not the end, nor the beginning of the end but the end of the beginning for the Caesars Entertainment bankruptcy, to paraphrase Winston Churchill. So protracted has the bankruptcy been that its quiet resolution comes as an anticlimax.”I’ve never … Continue reading
Posted in Architecture, Donald Trump, Georgia, Harrah's, International, Japan, Macau, Maryland, MGM Mirage, Politics, South Korea, Steve Wynn, Wall Street
1 Comment
MGM’s big rake in Washington; Resort projects power Massachusetts
It should come as no surprise that Washington, D.C., the land of smoke-filled rooms where sleazy deals are made, should be deliver a bumper crop of players to MGM National Harbor‘s 39-table poker room. Even with a truncated month of … Continue reading
Warm December in Atlantic City; Las Vegas stages comeback
Online gambling continues to be a hit with New Jersey players, up 31% to $18 million in December. Resorts Digital‘s market share has eked past Tropicana Entertainment‘s but Golden Nugget is far and away the leader, with 26%. Enjoy it … Continue reading
Posted in Architecture, Atlantic City, Dan Gilbert, Detroit, Economy, Glenn Straub, Harrah's, Internet gambling, MGM Mirage, Mohegan Sun, Pinnacle Entertainment, Politics, Revel, The Strip, Tourism, Tropicana Entertainment, Wall Street
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Trump vs. Las Vegas; E-sports is big busine$$
“Donald Trump is the most uninformed president the U.S. has ever had. This is not an opinion. It is based on the realities of how human beings communicate: He does not read. ‘[Trump] said in a series of interviews that he does not … Continue reading
Posted in Affinity Gaming, Atlantic City, Donald Trump, Downtown, Economy, Entertainment, Harrah's, International, Internet gambling, Macau, Marketing, MGM Mirage, Mississippi, Regulation, Sheldon Adelson, Sports, Steve Wynn, The Strip, Tourism, Tropicana Entertainment, Wall Street
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Jesus scapegoated for December results; Changing of the guard in New Jersey
Deutsche Bank analyst Carlo Santarelli put in some quality time in Las Vegas recently and came away satisfied with the market, particularly MGM Resorts International, Station Casinos, Boyd Gaming and Penn National Gaming, although he had no new intel on … Continue reading
Posted in Atlantic City, Boyd Gaming, California, Economy, Foxwoods, Georgia, Horseracing, Internet gambling, Lucky Dragon, MGM Mirage, Mohegan Sun, Penn National, Politics, Station Casinos, Tribal, Wall Street
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National Harbor boffo for MGM; Icahn keeps them guessing
In its first month, MGM National Harbor has been both good and bad for Maryland. Although the MGM Resorts International property, acclaimed by some as being Las Vegas Strip-caliber, did blockbuster numbers, the rest of the Maryland casino industry was … Continue reading
2017: Boom or bust?
Vital Vegas, whose predictive skills are superior to ours, recently came out with a blockbuster, forecasting that Las Vegas Sands or MGM Resorts International or Wynn Resorts (or maybe some combination of the above) might be headed into bankruptcy. “Tectonic … Continue reading
Posted in Atlantic City, Detroit, Economy, Harrah's, Japan, Macau, MGM Mirage, Regulation, Sheldon Adelson, Steve Wynn, Wall Street
1 Comment
Macao: Cautious recovery predicted; Straub sets Revel reopening
“Does the fact that Macao has an Eiffel Tower now bring extra people to the market,” asked Union Gaming Group analyst Grant Govertsen rhetorically. “Yes, but their main activity here will still be gaming.” “They” includes players from as far … Continue reading
Posted in Atlantic City, CityCenter, Dining, Economy, G2E, Glenn Straub, Internet gambling, Japan, Lawrence Ho, Macau, Revel, Sheldon Adelson, The Strip, Tourism, Transportation, Wall Street
1 Comment
A legend passes; Packer flops in Vegas (again)
Before we get back to business, a few brief mentions. First, let us have a moment of silence for Strip icon and former Las Vegas casino owner Debbie Reynolds, victim of a fatal stroke. Coming as it did a day … Continue reading
Japan goes all in; Adelson, Davis on the outs?
In an uncharacteristic flurry of activity, the normally tortoise-powered Shinzo Abe got casino enabling legislation through both houses of the Japanese Diet prior to adjournment. “To us the opportunity is thoroughly Japanese and thoroughly delicious,” said a lip-smacking Steve Wynn. … Continue reading
Posted in California, Florida, Geoff Freeman, Japan, Politics, Seminole Tribe, Sheldon Adelson, Sports, Steve Wynn, Taxes, The Strip, Tourism, Wall Street
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What the Lucky Dragon means; National Harbor lifts all boats
The good Dr. David G. Schwartz ponders the significance of Lucky Dragon Casino and begins with one salient milestone: “Lucky Dragon is the first genuinely new property to open in the tourist corridor since The Cosmopolitan six years ago.” That’s … Continue reading
Posted in Architecture, Cosmopolitan, Donald Trump, Genting, Harrah's, history, Internet gambling, Japan, Lucky Dragon, Marketing, Maryland, MGM Mirage, Nevada, Politics, Problem gambling, Regulation, Sheldon Adelson, Taxes, The Strip, Tourism, Wall Street
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Macao: Big brother is watching; Quandary in Indiana
Just as it looked that Macao was beginning to climb out of one government-created crisis, along comes another. According to a report in the South China Morning Post, the central government was cutting the maximum withdrawal amount from UnionPay ATMs … Continue reading
Posted in Ameristar, Boyd Gaming, Full House Resorts, GLPI, Harrah's, Indiana, Macau, Majestic Star, Penn National, Pinnacle Entertainment, Racinos, Regulation, Sheldon Adelson, Singapore, Tropicana Entertainment, Wall Street
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