Category Archives: Wall Street

Adelson dealt a setback

Posted on January 21, 2011 by David McKee

Florida casinos, the latest pet project of Sheldon Adelson and new ally Gov. Rick Scott (R), got the back of the hand from Miami Beach‘s city commission. Since Miami Beach is the most desirable casino zipcode in the state, this … Continue reading →

Posted in Arizona, Boyd Gaming, Current, Florida, Isle of Capri, Kansas, Politics, Racinos, Regulation, Sheldon Adelson, Tribal, Wall Street | 1 Comment

East Coast escalation; A modest reprieve

Posted on January 18, 2011 by David McKee

While I’ve been sorting through the sordid life of Allen R. Glick, things have been heating up back east with regard to casino expansion. A Tuesday-morning dispatch from the analysts at J.P. Morgan ran down the salient developments. First, in … Continue reading →

Posted in Current, Environment, Harrah's, Horseracing, Illinois, Kansas, Massachusetts, Penn National, Pennsylvania, Politics, Racinos, Taxes, Wall Street | Comments Off

Quote of the Day

Posted on January 14, 2011 by David McKee

“Our intent is to be a large capital facilitator to enable SBE to embark on a shopping spree through the rubble and wreckage of a stretched industry, and do those bold things that others would not consider.” — Colony Capital … Continue reading →

Posted in Atlantic City, Colony Capital, Economy, Sahara, Station Casinos, Wall Street | 1 Comment

Nevada’s November: rough sledding; Sunny Sheldon

Posted on January 11, 2011 by David McKee

If pressed for a prediction, I’d say 2011 will be a good year for the Strip, not so much for the rest of the Silver State. Just when I was feeling a bit queasy about November’s gaming revenues, Dr. David … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, California, Cretins, Current, Downtown, Florida, Horseracing, Laughlin, LVCVA, Macau, Massachusetts, MGM Mirage, North Las Vegas, Politics, Regulation, Sheldon Adelson, Stanley Ho, Station Casinos, Steve Wynn, Tourism, TV, Wall Street | 4 Comments

Harrah’s to Philly: “We’re back!”; MGM tries something new

Posted on January 11, 2011 by David McKee

Or so Ed Snider‘s Philadelphia Entertainment & Development Partnership claims in a new petition to the Pennsylvania Gaming Control, asking for its license back. Snider’s group says that it now has $275 million in seed money sown up and would … Continue reading →

Posted in Atlantic City, CityCenter, Current, Dubai, Economy, Harrah's, Isle of Capri, Marketing, MGM Mirage, Pennsylvania, Pets, Regulation, The Strip, Tourism, Tribal, Wall Street | 3 Comments

Upsizing Illinois

Posted on January 7, 2011 by David McKee

Or would “capsizing” be the right word? Late Thursday, Wells Fargo released a study of the effects on Illinois‘ casino market if a massive expansion backed by state Democrats goes through. They’re under the gun, since the whole issue gets … Continue reading →

Posted in Bally Technologies, Boyd Gaming, Current, Don Barden, Economy, Harrah's, IGT, Illinois, Indiana, Mississippi, Missouri, Neil Bluhm, Penn National, Pinnacle Entertainment, Politics, Racinos, Regulation, Wall Street, WMS Industries | 6 Comments

Palms: Maloof out, Loveman in?

Posted on January 6, 2011 by David McKee

Now that Las Vegas has fallen about as far as it can, private equity firms are picking over the city like vultures sampling carrion. Don’t get me wrong: It’s a much smarter strategy than those PE bozos who bought in … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Colony Capital, Current, Donald Trump, George Maloof, Harrah's, Marketing, MGM Mirage, Regulation, The Strip, TV, Wall Street | 9 Comments

Happy New Year?

Posted on December 30, 2010 by David McKee

Since Las Vegas is looking at a 3.5% increase in visitation from New Year’s Eve 2009 and 98% occupancy, the answer is “Yes.” Thank God, because it hopefully means that an equivocal recovery on the Strip is finally gaining traction, … Continue reading →

Posted in California, Charity, CityCenter, Current, Economy, Harrah's, Harry Reid, Internet gambling, Lake Tahoe, Sheldon Adelson, Station Casinos, Tribal, Wall Street | 5 Comments

From the mailbag

Posted on December 28, 2010 by David McKee

It’s but 9:07 a.m. and two big pieces of news have fallen over the cyber-transom. An S&G reader informs me that leaderless Greektown Casino will have new — and good — management soon, in the form of a GM who’s … Continue reading →

Posted in California, Current, Detroit, Harrah's, Marketing, The Strip, Tribal, Wall Street | 2 Comments

Sheldon’s Chinese box

Posted on December 24, 2010 by David McKee

Sheldon Adelson must have been a good boy this year. Santa left an extra present under his tree, in the form of probable approval by the Macau Land, Public Works & Transportation Bureau of apartment sales at 286-unit Four Seasons … Continue reading →

Posted in Current, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Pansy Ho, Sheldon Adelson, Stanley Ho, Wall Street | Comments Off

Oh little casino of Bethlehem

Posted on December 24, 2010 by David McKee

There’s a little something extra in the stockings of Pennsylvania casinos … a rather big something extra, actually. Keystone State casinos grossed 22% more than last November. Throw in a $15 million month at SugarHouse (below) and it’s a 31.5% … Continue reading →

Posted in Economy, Harrah's, International, Neil Bluhm, Penn National, Pennsylvania, Planet Hollywood, Politics, Racinos, Sheldon Adelson, Tribal, TV, Wall Street | Comments Off

‘Twere the Case Bets before Christmas

Posted on December 23, 2010 by David McKee

In the casino industry, everything was stirring, including the mice. Cordish’s revenge. It’s a dish best served by opening Cordish Gaming‘s controversial Arundel Mills gambling hall late next year with a temporary, one-year casino. That means karma comes early for … Continue reading →

Posted in Alex Yemenidjian, Animals, Cordish Co., Current, Downtown, Economy, Entertainment, G2E, Harrah's, Internet gambling, Macau, Maryland, MGM Mirage, Minnesota, Ohio, Penn National, Pennsylvania, Politics, Racinos, Singapore, The Mob, The Strip, Tilman Fertitta, Tourism, Tribal, Wall Street | Comments Off

Morning in Vegas? Karma 2, Penn Nat’l 0

Posted on December 21, 2010 by David McKee

Having been burned by a few too many “false positives” in terms of economic recovery, S&G is loath to get anyone’s hopes up. (And some remain skeptical.) However, another room-rate survey from J.P. Morgan provides license for optimism. As you … Continue reading →

Posted in Cosmopolitan, Economy, Election, Harrah's, Ohio, Penn National, Steve Wynn, Taxes, The Strip, Tourism, Wall Street | 4 Comments

Ameristar: No Sale; Bad news for Caesars

Posted on December 15, 2010 by David McKee

It’s back to business as usual for Ameristar Casinos, whose board decided “a sale is not in the best interests of the Company and its stockholders at this time.” Which is a nice way of saying there’s no bidding war … Continue reading →

Posted in Ameristar, Boyd Gaming, Economy, Harrah's, Iowa, Kansas, Macau, MGM Mirage, Pansy Ho, Penn National, Regulation, Sheldon Adelson, Stanley Ho, Station Casinos, Steve Wynn, Wall Street | Comments Off

Atlantic City’s future: “Bleak”

Posted on December 10, 2010 by David McKee

Such is the prognosis from J.P. Morgan analyst Joseph Greff after the November revenues rolled in from the Boardwalk. Basically, the double-edged sword that was table games in Pennsylvania and a casino in Philadelphia has swung, and lopped 12.5% off … Continue reading →

Posted in Alaska, Atlantic City, Boyd Gaming, Carl Icahn, Colony Capital, Cretins, Current, Dennis Gomes, Donald Trump, Economy, Entertainment, Harrah's, Marketing, Morgans Hotel Group, Movies, Neil Bluhm, Pennsylvania, The Strip, Tilman Fertitta, Tourism, Tribal, Tropicana Entertainment, TV, Wall Street | 1 Comment

Case Bets: Caliendo, ColSux & Sixty Votes’ latest

Posted on December 10, 2010 by David McKee

After 14 months on the job as Monte Carlo‘s resident headliner, Frank Caliendo is calling it quits, effective some time next spring. The impressionist and Fox Sports regular cited having to spend time away from his family and the rigors … Continue reading →

Posted in Columbia Sussex, Current, Economy, Election, Entertainment, history, Kentucky, Lake Tahoe, MGM Mirage, Politics, Sahara, Station Casinos, The Strip, Tribal, Wall Street | 1 Comment

Cosmo: The curious case of “the curious class”

Posted on December 9, 2010 by David McKee

It seems like David G. Schwartz is everywhere today. Las Vegas’ resident casino expert has not one but two stories out on The Cosmopolitan. From what he writes, Cosmo execs have convinced themselves they’ve reinvented the casino. It hinges upon … Continue reading →

Posted in CityCenter, Cosmopolitan, Current, Donald Trump, G2E, Harry Reid, International, Internet gambling, MGM Mirage, Midnight Jim Gibbons, Sheldon Adelson, Steve Wynn, Taxes, Tribal, Wall Street | 3 Comments

Nevada: “Cautious optimism”

Posted on December 9, 2010 by David McKee

That’s how UNLV‘s gaming guru, Prof. David G. Schwartz, describes his reaction to the October revenue numbers, released today. The 11% autumnal bounce may be less notable for the fact that the Strip was up 16% than the fact that … Continue reading →

Posted in Animals, Boulder Strip, Boyd Gaming, Cordish Co., Current, Downtown, Economy, history, International, Marketing, Mesquite, MGM Mirage, Pets, Regulation, Reno, Sheldon Adelson, Steve Wynn, Technology, The Strip, Tourism, Wall Street | 1 Comment

Old Sixty Votes folds again; Butera’s blunder

Posted on December 8, 2010 by David McKee

Hey, Harry Reid, the casino industry called. It wants its money back. In all-too-predictable collapse, Old Sixty Votes threw in the towel on efforts to explicitly legalize online poker in the U.S. Since the issue is now dead for two … Continue reading →

Posted in Carl Icahn, Columbia Sussex, Current, Election, Harrah's, Harry Reid, Horseracing, IGT, Indiana, International, Internet gambling, MGM Mirage, Mississippi, Politics, Sheldon Adelson, Station Casinos, Tribal, Wall Street | 1 Comment

Explore the “Schtrip” …

Posted on December 8, 2010 by David McKee

… from the comfort of your desk. A new application, 3DLasVegas.com, provides a virtual flyover of Sin City. (Caution: You must have Google Earth installed in order to use the site.) The cyber-tour also includes a booking engine, a followup … Continue reading →

Posted in Current, Downtown, Entertainment, Harrah's, Technology, The Strip, Tourism, Wall Street | 1 Comment