Category Archives: Wall Street

Cosmo rides the wave; Old Sixty Votes rides again

Posted on December 7, 2010 by David McKee

It may be $1.9 billion over budget and 2.5 years behind schedule but The Cosmopolitan appears to be hitting the market with perfect timing. That’s good news for the 5,000 employees who are furiously getting acclimated with the new megaresort. … Continue reading →

Posted in CityCenter, Cosmopolitan, Current, Economy, Harrah's, Harry Reid, history, International, Internet gambling, MGM Mirage, Politics, Regulation, Sheldon Adelson, Steve Wynn, Taxes, The Strip, Tribal, Wall Street | 1 Comment

2014 is the new 2007; Good news from Pennsylvania, Detroit

Posted on December 7, 2010 by David McKee

It will take Las Vegas seven years to return to its former prosperity. Or so concludes a new report from consulting firm PricewaterhouseCoopers, which sees casino revenue improving in late 2011 (in line with a Moody’s Investor Service report that … Continue reading →

Posted in Atlantic City, CityCenter, Current, Detroit, Economy, Harrah's, International, Macau, MGM Mirage, Neil Bluhm, Penn National, Pennsylvania, Plaza, Sheldon Adelson, Singapore, Steve Wynn, Wall Street | 5 Comments

Cosmo attempts suicide; a big (Para)bounce?

Posted on December 2, 2010 by David McKee

Maybe Union Gaming analyst Bill Lerner knew something the rest of us didn’t when he predicted the opening of The Cosmopolitan (aka “Osmopo”) would improve business for other high-end hotels on the Strip. After all, what could send New Year’s … Continue reading →

Posted in CityCenter, Cosmopolitan, Current, Dining, Entertainment, George Maloof, Harrah's, Marketing, MGM Mirage, Sheldon Adelson, Steve Wynn, The Strip, Wall Street | 9 Comments

Macao smacks down Adelson

Posted on December 2, 2010 by David McKee

So the Chinese government was just bluffing, huh? Talk about taking land back was merely political posturing, was it? Once again, Wall Street and hubristic casino barons alike have been given a sharp reminder just who’s calling the shots over … Continue reading →

Posted in Current, Economy, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Regulation, Sheldon Adelson, Singapore, Stanley Ho, Steve Wynn, Wall Street | 1 Comment

Harrah’s: Furtive Friday

Posted on November 21, 2010 by David McKee

Two days after sending CEO Gary Loveman out to change the conversation by hollering at the assembled masses in an inchoate G2E address, Harrah’s Entertainment quietly scuttled that much-talked-about IPO, evidently for fear it would be under-subscribed. Since the stated … Continue reading →

Posted in Current, G2E, Harrah's, Ohio, Pennsylvania, The Strip, Wall Street | 4 Comments

Steve Wynn & the Half-Blood Princes; Harrah’s thinks ahead; rough road for Revel

Posted on November 9, 2010 by David McKee

Count Wynn Las Vegas President Andrew Pascal among the casualties of Steve Wynn‘s divorce from ex-wife Elaine Wynn. As of Monday, former nephew-in-law Pascal joined the ranks of Nevada‘s unemployed, ceding authority to Marilyn Winn. Pun opportunities aside, Winn’s sudden … Continue reading →

Posted in Atlantic City, California, Current, Economy, Entertainment, Environment, George Maloof, Harrah's, Indiana, Macau, Missouri, Movies, Regulation, Station Casinos, Steve Wynn, The Strip, Tribal, Wall Street | 4 Comments

G2E bargain at Station; analysts split on Sands

Posted on November 8, 2010 by David McKee

If you’re looking for an affordable room in Las Vegas during Global Gaming Expo, try Expedia‘s German site (“.de”). A European-based S&G source reports finding rooms at Boulder Station going for €57 and Fiesta Rancho asking €59 — or $79 … Continue reading →

Posted in Current, Economy, Florida, G2E, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Pennsylvania, Sheldon Adelson, Stanley Ho, Station Casinos, Steve Wynn, Texas, The Strip, Tourism, Wall Street | 3 Comments

Harrah’s Lousiana Purchase?

Posted on November 8, 2010 by David McKee

According to an S&G source, Harrah’s Entertainment — soon to be Caesars Entertainment — is supposedly laying the groundwork for a purchase of L’Auberge du Lac from Pinnacle Entertainment. Harrah’s CEO Gary Loveman was supposedly on-property last month and L’Auberge’s … Continue reading →

Posted in Atlantic City, Current, Harrah's, Louisiana, Mississippi, Pinnacle Entertainment, The Strip, Wall Street | 2 Comments

Icahn’s CEO jumps ship

Posted on November 4, 2010 by David McKee

In something of a shocker, Scott Butera, CEO of Tropicana Entertainment is leaving the firm to join a rival — but undisclosed — casino company. It’s an amicable parting, judging by the fact that Butera is staying to smooth over … Continue reading →

Posted in Carl Icahn, CityCenter, Colony Capital, Columbia Sussex, Current, Detroit, Don Barden, Donald Trump, Economy, Fontainebleau, Herbst Gaming, Morgans Hotel Group, Shuffle Master, Tribal, Tropicana Entertainment, Wall Street | 4 Comments

Iowa is flat

Posted on November 4, 2010 by David McKee

Actually it’s not, if you’ve lived there (as I did for four wonderful years). However, Iowa‘s casino industry is, down one-tenth of a percent from October 2009. Actually, nine of the 17 non-tribal casinos recorded revenue increases, particularly the small … Continue reading →

Posted in Ameristar, Colorado, Cordish Co., Current, Economy, Election, Harrah's, Horseracing, Illinois, Indiana, Iowa, Isle of Capri, Laughlin, Maryland, Missouri, Penn National, Pinnacle Entertainment, Racinos, Steve Wynn, The Strip, Wall Street | 1 Comment

Big Gaming’s big win

Posted on November 3, 2010 by David McKee

When the dust settled — and did so quite quickly on Election night — GOP pollster Frank Luntz had it right and everybody else had it wrong. Instead of experiencing a fatal wound or even the electoral near-death experience of … Continue reading →

Posted in Ameristar, Current, Economy, Election, Harrah's, Harry Reid, Internet gambling, MGM Mirage, Politics, Problem gambling, Regulation, Station Casinos, Steve Wynn, Wall Street | 3 Comments

Election 2010: Around the horn

Posted on November 3, 2010 by David McKee

Let’s get to it, with some help from Wells Fargo gaming analyst Carlo Santarelli … Cordish Gaming won big in Maryland, where voters upheld an initiative to ratify the zoning of its Arundel Mills Mall casino project. Penn National Gaming, … Continue reading →

Posted in Ameristar, Bally Technologies, California, Cordish Co., Economy, Election, Harrah's, IGT, International, Iowa, Isle of Capri, Maryland, Massachusetts, Missouri, New York, Ohio, Penn National, Pennsylvania, Politics, Racinos, Tribal, Wall Street, West Virginia, WMS Industries | 3 Comments

Murren: I heart CityCenter; Wynn: I heart China; Angle: I heart Latinos … plus Boyd’s new fragrance

Posted on October 29, 2010 by David McKee

MGM Resorts International and old ball and chain Dubai World have consummated a deal to extend $1.8 billion in CityCenter loans, a reworking that MGM CEO Jim Murren calls “a capital structure that’s much more … in keeping with a … Continue reading →

Posted in Architecture, Boulder Strip, Boyd Gaming, Cannery Casino Resorts, CityCenter, Columbia Sussex, Current, Dubai, Economy, Election, Environment, Harrah's, Macau, Politics, Regulation, Sheldon Adelson, Steve Wynn, The Strip, Tourism, Transportation, TV, Wall Street | 6 Comments

[Your casino here]

Posted on October 28, 2010 by David McKee

As I find myself in frantic catch-up mode, one of the tasks confronting me is about 40 pages of Wall Street analysis on Las Vegas Sands‘ third quarter. (Hint: It was extremely good.) In honor of Sheldon Adelson, here’s the … Continue reading →

Posted in Dining, Marketing, Pennsylvania, Sheldon Adelson, TV, Wall Street | 2 Comments

Galaxy Cotai postponed; MGM stages a comeback

Posted on October 25, 2010 by David McKee

It’s not official but, seeing as two top executives at the Macao megaresort (including its COO) just got the chop, it appears pretty likely. A project that was expected to open in late March of next year now looks as … Continue reading →

Posted in Alex Yemenidjian, Current, Economy, Entertainment, Harrah's, Harry Reid, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Pansy Ho, Sheldon Adelson, Stanley Ho, Steve Wynn, Tropicana Entertainment, TV, Wall Street | 1 Comment

Election special: What’s at stake

Posted on October 21, 2010 by David McKee

100% devoid of Nevada-related content! Leaving aside a local advisory question in Richmond, California, there are four races to watch. Voters in Maine have blown hot and cold on casinos in their state. Next month they’ll weigh in on whether … Continue reading →

Posted in Ameristar, California, Cordish Co., Election, Isle of Capri, Maryland, Missouri, Penn National, Pinnacle Entertainment, Politics, Racinos, Regulation, Wall Street, West Virginia | 1 Comment

Suicide Sharron; Gossy-ness is back; Borgata’s buyer unmasked

Posted on October 21, 2010 by David McKee

Sharron Angle‘s latest kamikaze dive into the CityCenter aircraft carrier has sparked quite a bit of discussion in the S&G “Comments” threads. A couple of things spring to mind. One, if she is now alleging that MGM Resorts International imported … Continue reading →

Posted in Alex Yemenidjian, Architecture, Atlantic City, Boyd Gaming, CityCenter, Economy, Election, Entertainment, George Maloof, International, Marketing, MGM Mirage, Penn National, Politics, Taxes, The Strip, Wall Street | 5 Comments

Harrah’s on new spending spree

Posted on October 18, 2010 by David McKee

As predicted and dreaded by skeptical bond analysts, proceeds from Harrah’s Entertainment‘s semi-IPO of 17% of the company, it has been officially disclosed, will be rolled into retail therapy for CEO Gary Loveman. An anticipated $575 million will be used … Continue reading →

Posted in Colony Capital, Current, Economy, Entertainment, Fontainebleau, George Maloof, Harrah's, Ohio, Penn National, Pennsylvania, Regulation, The Strip, TV, Wall Street | 1 Comment

Kerkorian’s mixed message; Winners & Losers

Posted on October 13, 2010 by David McKee

Earlier this week, Hudson Securities analyst Robert LaFleur — something of a maverick in the gaming sector — voiced doubts about MGM Resorts International‘s ability to sustain its debt covenants. With an overhang of $13 million in debt, few properties … Continue reading →

Posted in Atlantic City, Boyd Gaming, CityCenter, Current, Detroit, Economy, Harrah's, International, Louisiana, M Resort, Macau, MGM Mirage, Morgans Hotel Group, Neil Bluhm, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Reno, Sheldon Adelson, The Strip, Tourism, Tribal, Vdara Death Ray, Wall Street | 4 Comments

Great moments in casino marketing

Posted on October 13, 2010 by David McKee

We associate Sega with video games but once upon a time, it was in the slot business. Those old machines do look awfully quaint unless … … you juxtapose a Sega one-armed bandit with über-mega-hot European sex goddess Edwige Fenech … Continue reading →

Posted in Atlantic City, Carl Icahn, Columbia Sussex, Current, history, Marketing, Movies, Pennsylvania, Technology, The Strip, Tropicana Entertainment, Wall Street | Comments Off