Category Archives: Wall Street

Loveman waffles on Philly … again; Sands and Galaxy surge

Posted on September 2, 2011 by David McKee

After getting into, then out of the incompetent Lewis Katz/Ed Snider casino consortium in Philadelphia, “direct discussions” are being held by Caesars Entertainment to reenter the moribund project. Its backers are asking for — guess what? — yet another two-month … Continue reading →

Posted in Genting, Harrah's, Macau, Neil Bluhm, New York, Pennsylvania, Racinos, Regulation, Sheldon Adelson, Steve Wynn, The Strip, Wall Street | 3 Comments

Caruso sings, Lerner hallucinates

Posted on August 29, 2011 by David McKee

Since I had one foot out the door en route to Albany when Caesars Entertainment held its Rick Caruso-led media blitz on Project Linq, I’m a bit late to the party. Some of my early reactions can be heard on … Continue reading →

Posted in Architecture, Boyd Gaming, Carl Icahn, CityCenter, Colony Capital, Current, Dining, Downtown, Economy, Entertainment, Fontainebleau, Harrah's, MGM Mirage, Sahara, Station Casinos, The Strip, Tourism, Transportation, Wall Street | 3 Comments

Thaw in Massachusetts? Hilton has left the building

Posted on August 25, 2011 by David McKee

After screwing the pooch in the previous legislature, it looks as though Gov. Deval Patrick (D-MA) and state lawmakers are finally on the same page regarding casino expansion in the Bay State. Analyst Joseph Greff rates the solons’ chances of … Continue reading →

Posted in Atlantic City, Bally Technologies, Colony Capital, Current, Economy, Genting, Horseracing, IGT, Isle of Capri, Kansas, Marketing, Maryland, Pennsylvania, Politics, Racinos, Regulation, Singapore, Taxes, The Strip, Tourism, Tribal, Wall Street, Warner Gaming, WMS Industries | 2 Comments

Taking back (Harrah’s) America

Posted on August 16, 2011 by David McKee

Ever-vigilant in his watch over “The Borg” (aka Caesars Entertainment), Vegas Tripping author Chuck Monster has been keeping a gimlet eye on the revival of Project Linq. Granted access to internal Caesars documents, Mr. Monster reveals that the much-needed makeover … Continue reading →

Posted in Architecture, Atlantic City, CityCenter, Current, Economy, Harrah's, International, Sports, Steve Wynn, Taxes, Wall Street | 8 Comments

Hilton: worse than it looks

Posted on August 12, 2011 by David McKee

In the cold light of day (i.e., Chris Sieroty‘s Review-Journal coverage), the situation at the Las Vegas Hilton appears still more dire … if such a thing is possible. Remember that roughly a third of the LVH is owned by … Continue reading →

Posted in Atlantic City, Carl Icahn, Colony Capital, Economy, Goldman Sachs, Lake Tahoe, Laughlin, The Strip, Tropicana Entertainment, Wall Street | 2 Comments

Colony craps out again

Posted on August 10, 2011 by David McKee

Gaming’s Mr. Magoo, the disaster-prone CEO of Colony Capital, Tom Barrack has done it again. The Las Vegas Hilton has defaulted on one of its loans (again), a too-familiar revelation where a Colony-owned property is concerned. Although it lost $1 … Continue reading →

Posted in Colony Capital, Cretins, Current, Dining, Economy, Entertainment, Goldman Sachs, The Strip, Wall Street | 1 Comment

Boob job

Posted on August 5, 2011 by David McKee

Bankrupt, 38-year-old Hooters Hotel got a two-month reprieve yesterday, as owners obtained a judge’s permission to keep spending creditors’ monies to keep the place open for an additional two months. That will at least give employees time to update their … Continue reading →

Posted in Alex Yemenidjian, Architecture, Columbia Sussex, Current, Dining, Economy, Entertainment, Harrah's, history, Hooters, IGT, Macau, Marketing, MGM Mirage, Regulation, Riviera, Sahara, Sheldon Adelson, Steve Wynn, The Mob, The Strip, Tourism, Wall Street | 7 Comments

Vegas’ recovery? D.O.A.

Posted on August 2, 2011 by David McKee

In the wake of last weekend’s Grand Capitulation on the banks of Foggy Bottom (I’ll let you decide who capitulated to whom), the incipient Las Vegas recovery that was materializing in late 2011 is probably as good as dead. Even … Continue reading →

Posted in Current, Donald Trump, Economy, history, International, Macau, Sheldon Adelson, Steve Wynn, Taxes, The Strip, Tourism, Wall Street | 8 Comments

Gorging at the trough

Posted on July 29, 2011 by David McKee

How do you turn a $100 million savings into a $92 million one? Leave it to Caesars Entertainment CEO Gary Loveman, that’s how. If you’ve noticed that the food quality at The Rio‘s Carnival World Buffet has declined (the “New … Continue reading →

Posted in CityCenter, Current, Dining, Economy, Entertainment, Harrah's, MGM Mirage, Sports, The Strip, Tourism, Wall Street | 2 Comments

For sale: One casino, slightly used; Golden showers in LV

Posted on July 26, 2011 by David McKee

Pity MGM Resorts International. It owns half of the top-grossing casino in Atlantic City and can’t give it away. Yup, as many feared, investor Leonard Green has slinked off into the tall grass, leaving MGM with 50% of Borgata it … Continue reading →

Posted in Atlantic City, Boyd Gaming, CityCenter, Cordish Co., Current, Entertainment, Environment, Maryland, MGM Mirage, Ohio, Penn National, Sheldon Adelson, Taxes, The Strip, Tourism, Wall Street, Warner Gaming | 2 Comments

Whine and cheese

Posted on July 25, 2011 by David McKee

Steve Wynn‘s desperate cry for attention got him back onto cable news … if perhaps not with the degree of sympathy for which he hoped. I saw this segment yesterday while on the treadmill and thought I’d pass it along … Continue reading →

Posted in Economy, Steve Wynn, Taxes, TV, Wall Street | 1 Comment

Dog Days

Posted on July 18, 2011 by David McKee

Heading into August, hotel rates along the Strip appear to be in the doldrums, judging by figures published today by J.P. Morgan analysts. Weekday rates continue to recover, typified by Caesars Entertainment properties, and weekend ones continue to decline. So … Continue reading →

Posted in CityCenter, Cosmopolitan, Current, Economy, Encore, Environment, Harrah's, MGM Mirage, Movies, Steve Wynn, The Strip, Tourism, Wall Street | 2 Comments

Sheldon Adelson, stiff?

Posted on July 13, 2011 by David McKee

Why would a man whose company shells out $2.5 million a year for a personal security detail balk at paying an extra hundred grand? (Las Vegas Sands has an interesting defense: We didn’t break the law … and, if we … Continue reading →

Posted in Cosmopolitan, Economy, Harry Reid, Macau, Regulation, Singapore, Station Casinos, Steve Wynn, The Strip, Tropicana Entertainment, Wall Street | 1 Comment

Quote of the Day

Posted on July 8, 2011 by David McKee

“Goldman is making a decent long-term investment in where the Strip is heading. The Stratosphere and the land could be more valuable imploded and built up with something else.” — gaming analyst Robert LaFleur, then with Susquehanna Financial Group, on … Continue reading →

Posted in Carl Icahn, Economy, Goldman Sachs, history, The Strip, Wall Street | 4 Comments

Anthony Marnell III answers your questions

Posted on July 6, 2011 by David McKee

Anonymous: What happened to the self-serve soda fountains? [They] actually became a Health Department issue. They’re very expensive to maintain and the public had basically worn them out. There were lots of problems with the syrup and things falling down … Continue reading →

Posted in Architecture, Boulder Strip, Boyd Gaming, Dining, Economy, Entertainment, M Resort, Marketing, Penn National, Technology, The Strip, Tourism, Tribal, Wall Street | 2 Comments

ACH-ooo!; The Admiral’s last voyage

Posted on July 1, 2011 by David McKee

For the second time in a week, Hilton Hotels & Resorts has stripped its name from a Colony Capital casino-hotel. First to go was the Las Vegas Hilton, to be known next year as [your logo here]. Today comes news … Continue reading →

Posted in Atlantic City, California, Colony Capital, Columbia Sussex, Current, Dennis Gomes, Economy, Harrah's, history, Macau, MGM Mirage, Missouri, Pinnacle Entertainment, Regulation, Sheldon Adelson, Station Casinos, Steve Wynn, The Strip, Tourism, Tribal, Wall Street | 1 Comment

Quote of the Day

Posted on June 28, 2011 by David McKee

“I don’t know how I could have been so wrong. How could I think the market would be so small?” — HSBC regional gaming analyst Sean Monaghan, on the 18-22% ROI achieved by Marina Bay Sands and Resorts World Sentosa. … Continue reading →

Posted in Genting, Sheldon Adelson, Singapore, Wall Street | 3 Comments

Raw deal

Posted on June 18, 2011 by David McKee

In the end two, casino operators bent over, grabbed their ankles and took it hard from Gov. John Kasich (R), who can claim a near-unqualified victory — and in blistering time. With money and pilings already sunk into Ohio, neither … Continue reading →

Posted in Bally Technologies, Boyd Gaming, Current, Election, Harrah's, Horseracing, IGT, Indiana, Isle of Capri, Ohio, Penn National, Pinnacle Entertainment, Racinos, Regulation, Taxes, Wall Street, WMS Industries | 3 Comments

Shopping spree: Boyd, Melco, Sands; Trouble in Adelsonia

Posted on June 16, 2011 by David McKee

For those of you waiting for Boyd Gaming to do something with all its undrawn credit, the moment has arrived. Having surveyed the chips on the board, Boyd has pounced upon … IP Casino Resort Spa (née Imperial Palace Biloxi) … Continue reading →

Posted in Ameristar, Boyd Gaming, Cretins, Current, Economy, Florida, Harrah's, history, International, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, Mississippi, Pennsylvania, Pinnacle Entertainment, Politics, Regulation, Sheldon Adelson, Singapore, Stanley Ho, Steve Wynn, Technology, The Strip, Wall Street | Comments Off on Shopping spree: Boyd, Melco, Sands; Trouble in Adelsonia

The Strip in April: Down and yet up; Gettysburg: The south loses again

Posted on June 9, 2011 by David McKee

According to the Nevada Gaming Control Board, casino revenue in the state was down 2% in April … except that it wasn’t. Since the month ended on a Saturday, slot revenue from the last two days of April got slopped … Continue reading →

Posted in Ameristar, Boulder Strip, Boyd Gaming, California, Current, Economy, Harrah's, Illinois, Indiana, International, Isle of Capri, Lake Tahoe, Pennsylvania, Politics, Regulation, The Strip, Tourism, Transportation, Wall Street | Comments Off on The Strip in April: Down and yet up; Gettysburg: The south loses again