Category Archives: Wall Street

Quote of the Day

Posted on July 13, 2010 by David McKee

Via Sharron Angle, the gift who keeps on giving. She may be conflating (mangling?) the distressed-debt-buyback provision that Sen. Harry Reid (D-NV) whisked through Congress — much to the relief of several big casino companies — with his cold-calling on … Continue reading →

Posted in CityCenter, Current, Economy, Election, Harry Reid, MGM Mirage, Wall Street | 4 Comments

Riviera: Non-story of the year

Posted on July 13, 2010 by David McKee

In what was 2010’s biggest foregone conclusion, Riviera Holdings filed bankruptcy yesterday. This has been coming a long time although the scanty news coverage leaves it unclear whether what’s taking place is the pre-packaged bankruptcy that would see the Riv … Continue reading →

Posted in Alabama, Animals, Boyd Gaming, CityCenter, Current, Economy, Election, International, Macau, MGM Mirage, Michael Gaughan, Pansy Ho, Politics, Regulation, Riviera, Sheldon Adelson, Silverton, Steve Wynn, The Strip, Tourism, TV, Wall Street | 3 Comments

S&G hither & yon

Posted on July 12, 2010 by David McKee

Last weekend’s usual barrage of errands, veterinary appointments, etc., was interrupted long enough for Yr. Humble Blogger to guest-host another edition of The Strip Podcast. In it, I reveal my shameful ignorance of televised poker (something I literally tuned out … Continue reading →

Posted in Ameristar, Architecture, Cannery Casino Resorts, CityCenter, Cosmopolitan, Dining, Downtown, Economy, Entertainment, Harrah's, Isle of Capri, MGM Mirage, Missouri, North Las Vegas, Pinnacle Entertainment, Regulation, Sheldon Adelson, Sports, Technology, The Strip, Tilman Fertitta, TV, Wall Street, World Series of Poker | 1 Comment

Quote of the Day

Posted on July 11, 2010 by David McKee

“I don’t listen to a critic who is not rich because I say, ‘If you’re so smart, why aren’t you rich? I send these guys embroidered Sheldon Adelson towels with a handwritten letter that says, ‘This is for you to … Continue reading →

Posted in Sheldon Adelson, Wall Street | 2 Comments

It’s Sheldon’s world, we just live in it

Posted on July 9, 2010 by David McKee

Oh, how I envy Sheldon Adelson. My own hair grows thinner and grayer while his becomes thicker and darker. (The photo at left, shows Classic Sheldon, circa 1999.) But I digress … Adelson is one of the stars of an … Continue reading →

Posted in Architecture, CityCenter, Cosmopolitan, Current, Economy, Florida, International, Macau, Pennsylvania, Sheldon Adelson, Singapore, Stanley Ho, Taxes, Texas, The Strip, Tourism, Wall Street | 4 Comments

Honey, I forgot the license!

Posted on July 2, 2010 by David McKee

Despite a record of failure, failure and even greater failure, three cronies of Pennsylvania Gov. Ed Rendell still have a chance of holding onto the comatose “Wynnwoods” casino project in Philadelphia. Somehow, Wynnwoods (officially known as Philadelphia Entertainment & Development … Continue reading →

Posted in Economy, Harrah's, Massachusetts, Pennsylvania, Politics, Regulation, Steve Wynn, Tribal, Wall Street | Comments Off on Honey, I forgot the license!

“Project Linq”

Posted on July 1, 2010 by David McKee

I’m not sure anybody but Gary Loveman could come up with such a preposterous handle as “Project Linq” (alas, not “Linc,” as in Clarence Williams III on the Mod Squad, although that would be pretty cool) for Harrah’s Entertainment‘s street … Continue reading →

Posted in Archon Corp., Current, Economy, Election, Harrah's, Marketing, Massachusetts, Politics, Sports, Taxes, The Strip, Tourism, Wall Street, World Series of Poker | 6 Comments

Cosmo: Blueprint for failure?

Posted on July 1, 2010 by David McKee

Geez, I’ve not been feeling pessimistic about the Dec. 15 debut of the Cosmopolitan … until somebody forwarded me a copy of a Bill Lerner analysis of the property. Now I’m worried. After walking the place, Lerner found it to … Continue reading →

Posted in Architecture, CityCenter, Cosmopolitan, Current, Economy, Marketing, MGM Mirage, Planet Hollywood, The Strip, Wall Street | 5 Comments

Cosmo sets a date

Posted on June 30, 2010 by David McKee

Dec. 15 is the Cosmopolitan‘s date with destiny. That’s when it begins rolling out its room inventory and casino product. That doesn’t sound very exciting, does it? It’s hard to get worked up about a place so grammatically challenged it … Continue reading →

Posted in CityCenter, Cosmopolitan, Current, Economy, Entertainment, Genting, International, Sheldon Adelson, Singapore, The Strip, Tourism, Wall Street | 1 Comment

Still catching up in Margaritaville

Posted on June 28, 2010 by David McKee

Eight days of vacation have left me deep in the hole, research-wise, so I hope you’ll forgive the slender output of recent days whilst I plough through dozens — if not a hundred or more — of unread news stories, … Continue reading →

Posted in Current, Economy, Harrah's, Mississippi, Sheldon Adelson, The Strip, Wall Street | Comments Off on Still catching up in Margaritaville

That giant flushing sound …

Posted on June 28, 2010 by David McKee

… you hear coming from the offices of Texas Pacific Group is a 46% writedown of its equity stake in Harrah’s Entertainment. As detailed in the Financial Times (registration req’d), $1.4 billion has turned into $759 million at the stroke … Continue reading →

Posted in Current, Economy, Harrah's, James Packer, TV, Wall Street | 1 Comment

So long, Sue, and thanks for playing

Posted on June 9, 2010 by David McKee

It’s back to her day job for Archon Corp. Secretary-Treasurer Sue Lowden, whose political aspirations experienced an embarrassing meltdown that some would call karmic,  redefining “epic fail.” Now she can focus on repairing a corporate image which The Newspaper That … Continue reading →

Posted in Archon Corp., Boyd Gaming, Current, Downtown, Economy, Election, Harry Reid, history, Laughlin, MGM Mirage, Michael Gaughan, Midnight Jim Gibbons, Movies, North Las Vegas, Phil Ruffin, Politics, Regulation, Reno, Sheldon Adelson, Sports, Steve Wynn, The Mob, The Strip, Wall Street | 2 Comments

This is what “recovery” looks like

Posted on June 9, 2010 by David McKee

Here’s our new business model: a Strip that hasn’t gotten past “dead cat bounce” yet and emaciated revenues elsewhere. Instead of longing for the snows of yesterday and invoking the magic number “2007,” the top minds in the industry are … Continue reading →

Posted in Boulder Strip, Current, Detroit, Downtown, Economy, Lake Tahoe, Laughlin, MGM Mirage, Regulation, The Strip, Tourism, Wall Street | 3 Comments

Quote of the Day

Posted on June 8, 2010 by David McKee

“There’s no question … that [the Obama administration has] basically focused too much on making things good for Wall Street and ignored Main Street, and now we’re paying the price for that. This is a structural problem. This is not … Continue reading →

Posted in Current, Economy, TV, Wall Street | 3 Comments

Bargain-hunting at Harrah’s

Posted on June 4, 2010 by David McKee

But not in the way you might think … Harrah’s Entertainment is $557 million richer — which effectively amortizes the Planet Hollywood deal — after the swap of a 16% ownership stake to three investment firms for $1.2 billion in … Continue reading →

Posted in Alex Yemenidjian, Boyd Gaming, Carl Icahn, Columbia Sussex, Current, Dining, Economy, Florida, Harrah's, MGM Mirage, Oklahoma, Regulation, The Strip, Tourism, Tribal, Tropicana Entertainment, Wall Street | 4 Comments

“The CityCenter shuffle”; Atlantic City saved … for now

Posted on June 3, 2010 by David McKee

That’s what subcontractors are calling the maze of paperwork they’ve had to negotiate while laboring on MGM Mirage‘s $8.5 billion metaresort. When it comes to real estate and construction coverage in Las Vegas, there’s Tony Illia and then there’s everybody … Continue reading →

Posted in Aristocrat, Atlantic City, CityCenter, Economy, Internet gambling, MGM Mirage, Midnight Jim Gibbons, Politics, Sports, Station Casinos, Steve Wynn, Taxes, The Strip, Tourism, Wall Street | 1 Comment

I stand corrected

Posted on June 3, 2010 by David McKee

Kudos to the reader who caught my boo-boo regarding casinos built over interstate highways: Regarding a U.S. casino sitting astride a highway, please note that John Ascuaga’s Nugget in Sparks (outside of Reno) sits astride Interstate 80. He went on … Continue reading →

Posted in Harrah's, Marketing, Midnight Jim Gibbons, Missouri, Phil Ruffin, Pinnacle Entertainment, Politics, Reno, The Strip, Tourism, Transportation, Wall Street | Comments Off on I stand corrected

Harrah’s $1.5B Bratislava bet; Marina Bay Sands booms; Falcons swoop upon Hilton, etc.

Posted on June 2, 2010 by David McKee

With almost no exception other than The Newspaper That Shall Remain Nameless, a $1.85 billion Metropolis project headed up by Harrah’s Entertainment has flown completely under the radar of the U.S. media ever since its announcement last October. Oh, some … Continue reading →

Posted in Animals, Atlantic City, Colony Capital, Current, Economy, Environment, Genting, Harrah's, International, James Packer, Labor, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Pansy Ho, Sheldon Adelson, Singapore, Stanley Ho, Steve Wynn, Tribal, TV, Wall Street | 2 Comments

Politics, gaming getting hopelessly muddled

Posted on June 2, 2010 by David McKee

Primary day in Nevada is less than a week away and that’s far too long for my taste. If I had a dollar for every robo-call I’ve received and every expensive-looking flier that’s found its way into my mailbox (and … Continue reading →

Posted in Archon Corp., Current, Economy, Election, Labor, Politics, Sheldon Adelson, Steve Wynn, TV, Wall Street | 2 Comments

Case Bets: Station, Macao, Maryland, Missouri, Mississippi, Encore 2x, etc.

Posted on June 1, 2010 by David McKee

$864.5 million: That’s the magic number if you want to put in an opening bid on 11 Station Casinos properties (plus unspecified land and some tribal-casino-management contracts) come Aug. 6. Boyd Gaming‘s already made it clear that it’s good for … Continue reading →

Posted in Ameristar, Bally Technologies, Boulder Strip, Boyd Gaming, Colony Capital, Current, Economy, Encore, Entertainment, Harrah's, Horseracing, International, Isle of Capri, Macau, Maryland, Mississippi, Missouri, Ohio, Pinnacle Entertainment, Racinos, Regulation, Station Casinos, Steve Wynn, Taxes, The Strip, Tourism, Tribal, Wall Street | 1 Comment