Category Archives: Wall Street

Bluhm, Boyd win in Illinois, everyone else loses

Posted on February 7, 2012 by David McKee

Well, not quite but the headline pretty much gives you January’s narrative in a nutshell. After backing out the contribution made by Neil Bluhm‘s new, category-killing Rivers Casino in Des Plaines, gambling revenue from the Land of Lincoln was a … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Columbia Sussex, Culinary Union, Current, Harrah's, Illinois, International, Internet gambling, MGM Mirage, Neil Bluhm, Penn National, Politics, Racinos, Regulation, Slot routes, Tilman Fertitta, Tropicana Entertainment, Wall Street | 1 Comment

Adelson’s perfidy and big karmic payback

Posted on February 6, 2012 by David McKee

Last Saturday, Sheldon Adelson personally presided over the Special Supplemental Sheldon Adelson Presidential Caucuses (an event hijacked from the state GOP) at the Dr. Miriam & Sheldon G. Adelson Educational Campus … and stepped in it again. Adelson’s footpads, according … Continue reading →

Posted in Dining, Election, Florida, Macau, MGM Mirage, Regulation, Sheldon Adelson, Stanley Ho, Steve Wynn, The Strip, Wall Street | 3 Comments

Caesars IPO: It’s baaaaaack! Adelson: I’ll take Taiwan

Posted on February 3, 2012 by David McKee

In a pathetically underwhelming announcement, Caesars Entertainment is planning to float an IPO of 1.8 million shares, priced to move at a modest $8-$10 per share. Which means, best-case scenario, that CEO Gary Loveman will raise $18 million, tops, from … Continue reading →

Posted in Boyd Gaming, Current, G2E, Harrah's, International, Macau, Maryland, Massachusetts, Ohio, Penn National, Regulation, Sheldon Adelson, The Strip, Wall Street | 3 Comments

When executives attack; Sheldon’s new beard; Wall Street loves it some MGM

Posted on January 24, 2012 by David McKee

Few YouTube feeds are more prolific and state of the art than that of Station Casinos (although they really ought to think twice about posting cell-phone footage online; it looks rinky-dink). However, what you will not see is an ad … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Culinary Union, Current, Election, Florida, Macau, MGM Mirage, Sheldon Adelson, Station Casinos, Texas, TV, Wall Street | 2 Comments

Aquedud?; Trump, chump

Posted on January 19, 2012 by David McKee

I apologize for feeding you some incorrect info earlier when I erroneously stated that the Philadelphia market lost business (apparently to Atlantic City) last month. Nope, Santa Claus was good to every casino in the Keystone State, although he could … Continue reading →

Posted in Atlantic City, Charity, Current, Donald Trump, Economy, Election, Genting, Harrah's, Jack Binion, Neil Bluhm, New York, Pennsylvania, Sheldon Adelson, Sports, Tribal, TV, Wall Street | Comments Off on Aquedud?; Trump, chump

Meet Virginia McDowell, Part II: Tales of Trump

Posted on January 18, 2012 by David McKee

In terms of turning around Isle’s financial performance, do you feel the full 180 degrees have been achieved yet? We’ve had a couple off different priorities over the last few years, as far as our strategic initiatives. One was to … Continue reading →

Posted in Atlantic City, Boyd Gaming, Donald Trump, Economy, Election, Harrah's, history, Iowa, Isle of Capri, Kentucky, Marketing, Missouri, Tourism, Wall Street | 3 Comments

Wynn & Okada: The bromance sours

Posted on January 13, 2012 by David McKee

Today’s Wall Street Journal confirms yesterday’s S&G tea-leaf reading that Kazuo Okada was being a naughty boy, bruiting about possible Wynn Resorts involvement in the Philippines, even showing “designs similar to iconic Wynn casinos, according to people familiar with the … Continue reading →

Posted in Architecture, Current, International, Macau, Steve Wynn, The Strip, Wall Street | Comments Off on Wynn & Okada: The bromance sours

Trouble at Wynncore; ‘Phantom’ exorcised

Posted on January 12, 2012 by David McKee

Steve Wynn (no introduction required) and old pal — and major investor — Kazuo Okada are having a falling-out that spilled into the files of the SEC. Okada has lined up heavyweight Las Vegas law firm Lionel Sawyer & Collins … Continue reading →

Posted in Dining, Entertainment, Harrah's, International, Macau, MGM Mirage, Regulation, Sheldon Adelson, Steve Wynn, Wall Street | 2 Comments

Belated Christmas presents, Part II

Posted on January 11, 2012 by David McKee

If the good news keeps raining down like this, I might have to start using the R-word … as in “recovery.” In November, Nevada‘s $880 million gross was good for a 7% upsurge. The Las Vegas Strip beat the statewide … Continue reading →

Posted in Architecture, Boulder Strip, CityCenter, Colony Capital, Current, Detroit, Downtown, Economy, Goldman Sachs, Lake Tahoe, Laughlin, MGM Mirage, North Las Vegas, Reno, Steve Wynn, The Strip, Tourism, Wall Street | 1 Comment

Belated Christmas presents

Posted on January 10, 2012 by David McKee

Good news is busting out all over, starting in the unlikeliest place … Atlantic City. Ye Olde Boardwalk was up 4% last month, its first revenue-positive month in 15 quarters. Even a 10% fall in table drop couldn’t put a … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Current, Dennis Gomes, Donald Trump, Economy, Election, Genting, Harrah's, Horseracing, Illinois, Neil Bluhm, New York, Pennsylvania, Politics, Racinos, Sheldon Adelson, Tilman Fertitta, Tribal, Tropicana Entertainment, Wall Street | 1 Comment

Adelson: Whining our future; The online deluge

Posted on January 9, 2012 by David McKee

Apparently there’s no avoiding what has become the story of the day: Sheldon Adelson‘s $5 million dowry to presidential aspirant Newt Gingrich. It’s a gift that comes with a substantial pre-nup; if Gingrich falters in South Carolina, American Crossroads and … Continue reading →

Posted in Alex Yemenidjian, Atlantic City, Boyd Gaming, Colony Capital, Current, Economy, Election, Florida, George Maloof, Harrah's, Harry Reid, Hooters, International, Internet gambling, Marketing, Massachusetts, MGM Mirage, Pennsylvania, Politics, Regulation, Sheldon Adelson, South Carolina, The Strip, Wall Street | 4 Comments

Adelson vacillates; Macao triumphs; Name of infamy

Posted on January 4, 2012 by David McKee

Showing something less than his usual decisiveness, Sheldon Adelson continues to send mixed signals with regard to his intentions in his native Massachusetts. He’s re-upped with Boston-based lobbyist firm Donoghue Barrett & Singal. However, despite years of scouting the market, … Continue reading →

Posted in Colony Capital, Current, Economy, Goldman Sachs, Harrah's, Iowa, Macau, Massachusetts, Penn National, Regulation, Sheldon Adelson, The Strip, Wall Street | Comments Off on Adelson vacillates; Macao triumphs; Name of infamy

Quote of the Day

Posted on December 20, 2011 by David McKee

“[Erin] Burnett, despite her youth, is a relic of a bygone age. She embodies ’90s ‘market populism,’ to use Thomas Frank’s phrase, now still surviving on our airwaves as a zombie idea. The idea of America as a mass ‘shareholder … Continue reading →

Posted in Economy, TV, Wall Street | 4 Comments

Pennsylvania gives thanks; Aqueduct, superstar

Posted on December 16, 2011 by David McKee

This has been a terrible fortnight for S&G but, hey, we’ve got some good news from Pennsylvania. Last month’s gambling revenues were reported this morning and they’re up 12%, thanks mostly to the growing popularity of table games. (Atlantic City, … Continue reading →

Posted in Atlantic City, Bally Technologies, Cannery Casino Resorts, Current, Economy, Genting, IGT, Illinois, Macau, Neil Bluhm, Pennsylvania, Racinos, Sheldon Adelson, Singapore, Steve Wynn, Tribal, Wall Street, WMS Industries | 2 Comments

Borgata or bust; ‘LVH,’ Jacko & Sinead

Posted on December 9, 2011 by David McKee

First, the good news: Borgata — accounting for more than one-fifth of the entire market share — continues to vastly outpace the rest of the Atlantic City market. Last month, it raked in $50 million for a 2% gain, driven … Continue reading →

Posted in Atlantic City, Boyd Gaming, Cirque du Soleil, Colony Capital, Current, Dennis Gomes, Donald Trump, Downtown, Economy, Harrah's, Laughlin, MGM Mirage, Steve Wynn, Technology, The Strip, Tilman Fertitta, Tropicana Entertainment, Wall Street | 1 Comment

Quote of the Day

Posted on December 5, 2011 by David McKee

“Only Cirque could screw up Elvis in Vegas … I’m from Vegas, and when you are from here, you watch Cirque and you feel like you’ve been raided.” — producer David Saxe, one of the few dissenting voices permitted in … Continue reading →

Posted in Cirque du Soleil, Donald Trump, Entertainment, Marketing, MGM Mirage, The Strip, Wall Street | Comments Off on Quote of the Day

Quote of the Day

Posted on November 30, 2011 by David McKee

“We do find it disconcerting that it seems virtually everyone is on the same side of the fence. The argument seems to center around the fact that Macau did so well during a period of fiscal tightening in China, just … Continue reading →

Posted in Economy, Macau, Regulation, Wall Street | Comments Off on Quote of the Day

Hooters: What next?; PE fools and their money; Deal or no-Deal in Georgia?

Posted on November 30, 2011 by David McKee

It’s all over for the current administration at Hooters Casino Hotel. They’ve given up trying to fight efforts by Canyon Capital Realty Advisors to have the money-losing property sold via foreclosure auction. If Canpartners wins at auction, it may go … Continue reading →

Posted in Colorado, Current, Economy, Election, Florida, Georgia, Golden Gaming, Herbst Gaming, Hooters, Horseracing, Slot routes, Taxes, The Strip, Wall Street | 3 Comments

Boyd: Trapped in Florida; Sands muzzled in Singapore; Good vibes in Macao

Posted on November 29, 2011 by David McKee

This is a good time to be in Florida, right? Not if you’re Boyd Gaming and have been trying to unload Dania Jai-alai, souvenir of a half-assed venture into the Sunshine State’s racino market. The company has scrapped an $80 … Continue reading →

Posted in Boyd Gaming, Colony Capital, Current, Economy, Genting, Harrah's, Macau, MGM Mirage, Racinos, Regulation, Sheldon Adelson, Singapore, Stanley Ho, Steve Wynn, The Strip, Wall Street | Comments Off on Boyd: Trapped in Florida; Sands muzzled in Singapore; Good vibes in Macao

Sanguine Sands; Genting vs. Islamofascism; Arkansas vs. Missouri

Posted on November 23, 2011 by David McKee

Las Vegas Sands dispatched its international overseer, Rob Goldstein (right) and sidekick Dan Briggs to New York as envoys to Wall Street. As reported by J.P. Morgan‘s Joseph Greff, Sands’ outlook is sanguine, particularly with regard to the Singapore and … Continue reading →

Posted in Architecture, Atlantic City, Colony Capital, Economy, Election, Florida, Genting, Goldman Sachs, International, Macau, Massachusetts, Missouri, Politics, Sheldon Adelson, Singapore, Taxes, Texas, The Strip, Tourism, Wall Street | 2 Comments