Hoosier stasis; Last-minute scramble in Connecticut

Posted on November 9, 2015 by David McKee

Gaming revenues in Indiana were even with 2014 last month, as Hoosier State casinos pulled in $186 million. Foot traffic was down 9% and per-player spend rose 11%. So you’ve got fewer but bigger-spending gambleAmeristar East Chicagors: Is that a good thing or not? An upward trend at Ameristar East Chicago was blunted with a 2% and Pinnacle Entertainment seems to be robbing Peter to pay Paul in the southern Indiana/Ohio region. Revenues at Ohio-based Belterra Park have been improving but original-recipe Belterra is down 6%.

The other headline-worthy item was a 14% surge in winnings at French Lick Resort. Despite a 1% dip, Horseshoe Hammond continued to dominate the state with Continue reading →

Posted in Boyd Gaming, Foxwoods, Full House Resorts, Harrah's, Indiana, Mohegan Sun, Ohio, Penn National, Pinnacle Entertainment, Racinos | Comments Off on Hoosier stasis; Last-minute scramble in Connecticut

Quote of the Day

Posted on November 9, 2015 by David McKee

steve-wynn-1“I don’t think either one of them has been at their best on this one. But, you know, they’re big boys. They can do their own business.” — Massachusetts Gaming Commission Chairman Stephen Crosby on the feud between Steve Wynn and Boston Mayor Martin Walsh.

Posted in Massachusetts, Steve Wynn | Comments Off on Quote of the Day

As the Showboat turns

Posted on November 6, 2015 by David McKee

Will the Showboat have a new owner (Bart Blatstein) on Monday? Only its hairdresser knows for sure. Will Caesars Entertainment‘s removal of its gaming entitlement trump (pardon the pun) Trump Showboat_Atlantic_CityEntertainment Resorts CEO (and civic villain) Bob Griffin‘s mandate that it be run as a hotel-casino or nothing? Will mercurial Glenn Straub find a way to contest the sale to Blatstein despite having no legal standing in the matter? Will he be able to siphon heat and electricity from the Showboat to power Revel? Continuing his scorched-earth campaign in re the Showboat, Straub threatened “It’s ours. There’s nobody that’s going to get title to it.”

Tune in Monday for the next exciting episode.

Posted in Atlantic City, Glenn Straub, Harrah's, Revel, Trump Entertainment Resorts | 1 Comment

New blows to Adelson, SLS; Seminoles’ air war

Posted on November 6, 2015 by David McKee

Ex-Sands China CEO Steven Jacobs‘ wrongful-termination case will still proceed under the gavel of Judge Elizabeth Gonzalez. The Nevada Supreme Court, in an unpublished opinion, reaffirmed AdelsonGonzalez’s standing in the case and also ordered Las Vegas Sands to pony up the $250,000 it owes to charity, a penalty incurred after it was found hiding evidence from Clark County District Court. Although it has not formally gone to trial yet, Sands has been losing one preliminary bout after another. This prompted it to scapegoat Judge Gonzalez, writing to the Supremes that its courtroom losses “continue to evidence this jurist’s bias and hostility toward defendants and further calls into question her ability to preside over this case as an impartial judicial officer.”

What remains unresolved is the issue of jurisdiction. Sands wants Continue reading →

Posted in Florida, Indiana, Internet gambling, Macau, Politics, Regulation, Sam Nazarian, Seminole Tribe, Sheldon Adelson, SLS Las Vegas, Taxes, The Strip, TV | Comments Off on New blows to Adelson, SLS; Seminoles’ air war

Bluhm thinks big in Massachusetts; Cautious optimism in Illinois

Posted on November 6, 2015 by David McKee

Never accuse Neil Bluhm of thinking small. His Mass Gaming & Entertainment has published some eye-popping projections as part of a 200-page casino application to the State of neil-bluhmMassachusetts. Despite nearby competition from Plainridge and Rhode Island, Bluhm is projecting four million customers a year and an average of $400 million in revenue (plus $60 million a year in non-gaming dollars) for his $677 million project. It will be a red-brick structure reflecting “conservative New England architecture,” containing 2,100 slot machines and nearly 125 table games. The amenities will include a 250-room hotel.

Bluhm predicts a 1,400-man construction workforce and a casino workforce of 1,500. A strategic location between Boston and Cape Cod is supposed to be the magic ingredient that Continue reading →

Posted in Architecture, Boyd Gaming, GLPI, Harrah's, Illinois, Internet gambling, Massachusetts, MGM Mirage, Neil Bluhm, Penn National, Politics, Regulation, Tribal | Comments Off on Bluhm thinks big in Massachusetts; Cautious optimism in Illinois

Quote of the Day

Posted on November 6, 2015 by David McKee

Circus Reno“We will show some love to the clown.” — Eldorado Resorts‘ CEO Gary Carano, promising to bring the Reno iteration of Circus Circus into the 21st century. Eldorado will also rebrand and add a Hampton Inn to its Scioto Downs racino in Ohio.

Posted in Current, Eldorado Resorts, Ohio, Racinos, Reno | Comments Off on Quote of the Day

Packer on the move in Vegas; Impending strike in Detroit?

Posted on November 4, 2015 by David McKee

Formally speaking, Alon hasn’t broken ground but that hasn’t stopped James Packer‘s bulldozers and backhoes from moving earth around at the site of the planned megaresort, as well as james_packerleveling some of the landscaping Steve Wynn paid for to conceal the empty land. So can we move this into the “in progress” category? (That’s more than can be said for dormant Resorts World Las Vegas.) CEO Andrew Pascal has taken a vow of silence on the project until “early next year,” when details — it is promised — will be revealed.

While the exact appearance of the resort remains under wraps, Vegas Inc. obtained some specifics of the Alon-to-be, which will have Continue reading →

Posted in Architecture, Carl Icahn, Dan Gilbert, Detroit, Fontainebleau, Genting, James Packer, MGM Mirage, SLS Las Vegas, Steve Wynn, The Strip | Comments Off on Packer on the move in Vegas; Impending strike in Detroit?

Georgia on their minds; DFS regulation gathers speed

Posted on November 4, 2015 by David McKee

There’s a new suitor in the crowd of casino companies eager to extend their brands into Georgia: the Seminole Tribe. It wants to build a Hard Rock International casino in 2018, opposite Mercedes-Benz Stadium, where the Atlanta Falcons will play. Hard Rock CEO James Allen said the company would build the Georgia flaghotel even without gambling but “Hard Rock could be your solution.” Whoever gets the primary Atlanta license had better bring a big checkbook: The proposed license fee is $1 billion, while the five other casinos would only require $200 million upfront.

Reported the Atlanta Journal-Constitution, “The companies have made an effort to sell themselves as legitimate and transparent businesses that welcome robust regulations,” and won’t require Continue reading →

Posted in Atlantic City, Boyd Gaming, Georgia, Hard Rock International, Illinois, Internet gambling, Minnesota, New York, Problem gambling, Regulation, Seminole Tribe, Taxes | Comments Off on Georgia on their minds; DFS regulation gathers speed

Straub has new plan for Revel; Station cans Cactus Lane casino

Posted on November 4, 2015 by David McKee

Glenn Straub can’t even heat Revel but he’s got his sights on becoming Atlantic City‘s biggest slumlord. The ever-unpredictable billionaire’s latest plan for the megaresort is to use it to house Syrian refugees. However, this homeless-hostel offer is good for only so long as it takes Straub to hash out a long-term strategy for Revel.

Straub has no shortage of ideas for Atlantic City but they’re scattershot and seemingly whimsical. For instance, flying in VIP players via 25 jets from airports in the eastern U.S. hardly seems to Continue reading →

Posted in Atlantic City, Glenn Straub, Internet gambling, Michael Gaughan, Regulation, Reno, Revel, Sports, Station Casinos, Taxes, The Strip, Westgate LV | Comments Off on Straub has new plan for Revel; Station cans Cactus Lane casino

Quote of the Day

Posted on November 3, 2015 by David McKee

Lawrence_Ho_Melco“There’s no arguing with City Hall. There’s no arguing with the government. There’s only begging and lobbying and more begging.” — Melco Crown Entertainment Co-Chairman Lawrence Ho on doing business in Macao.

Posted in Lawrence Ho, Macau, Melco Crown Entertainment, Regulation | Comments Off on Quote of the Day

Regulating DFS; So long, Harrah’s Tunica

Posted on November 3, 2015 by David McKee

Although he doesn’t think state government ought to “impede one’s enjoyment of fantasy sports,” New Jersey state Sen. James Whelan (D, right) thinks it’s time for the Garden State to regulate daily Whelanfantasy sports. In a letter to the Division of Gaming Enforcement, Whelan wrote, ” we have an obligation to ensure that fantasy sports competition is fair, impartial, and transparent to everyone.” He’ll face some stiff opposition from Gov. Chris Christie (R), who has pooh-poohed the need for oversight of the pastime.

Under Whelan’s bill, DFS operators would have to clear New Jersey’s strict gaming-license application process. In return, they’d be certified as offering a game of skill. Casinos would also Continue reading →

Posted in Arkansas, Atlantic City, Dining, Harrah's, Internet gambling, Mississippi, Oklahoma, Politics, Regulation, Sports, Tribal | 1 Comment

Quote of the Day

Posted on November 2, 2015 by David McKee

mpel-city-of-dreams“With hotel occupancies continuing to decline … we don’t think there are many left who subscribe to the if you build it they will come mantra as it pertains to Macau these days.” — Deutsche Bank analyst Carlo Santarelli‘s comment on Macao’s 28% decline in gambling revenues last month.

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

Caesars loses Ohio; Parking fees on the Strip?

Posted on November 2, 2015 by David McKee

In a lose-lose scenario, Caesars Entertainment is losing its management contracts at Horseshoe Cincinnati, Horseshoe danielgilbertCleveland and Thistledown Racino. Even with the valuable Horseshoe brand, all three had been losing business in recent months. Caesars had long ago sold its minority share of the three properties to Rock Gaming owner Dan Gilbert. Now it will lose the revenue stream that came with running them on Gilbert’s behalf. It’s a tragic end for Caesars, which sold lucrative Harrah’s Maryland Heights to get into Ohio and now has nothing to show for it.

The real losers may be players, who will no longer have access to Total Rewards. Rock Gaming CEO Matt Cullen‘s statement that  Continue reading →

Posted in CityCenter, Current, Dan Gilbert, Harrah's, James Packer, Lawrence Ho, Macau, Marketing, Maryland, MGM Mirage, Ohio, Regulation, Sheldon Adelson, Station Casinos, Steve Wynn, Technology, The Strip, Transportation | 1 Comment

Adelson sleeping with the enemy

Posted on November 2, 2015 by David McKee

In his mania to ban Internet gaming, Sheldon Adelson has let the worst of anti-gambling zealots to slither into bed with him. Dr. James Dobson-founded Focus on the Family has gotten behind adelson_t200Rep. Jason Chaffetz‘s faltering bill. So-called “social liberal” Adelson is now making common cause with conservative groups whose primary reason for existing is to outlaw abortion and extirpate gay marriage. If you’re known by the company you keep, Adelson’s allied himself with some of the worst of the anti-gambling crowd, all because he fears the Internet and doesn’t want his competitors capitalizing on it.

“Certainly any decision to undermine this law, and unleash Internet gambling on our country, should not be left to a lawyer burrowed in the Justice Department,” huffed Let Freedom Ring President Colin Hanna. National Fraternal Order of Police President President Chuck Canterbury fired back, Continue reading →

Posted in Arizona, Harrah's, Internet gambling, Politics, Sheldon Adelson, Tribal | Comments Off on Adelson sleeping with the enemy

Murren: Mission to Massachusetts

Posted on November 2, 2015 by David McKee

Hot on the heels of announcing a REIT conversion of MGM Resorts International and a boffo 3Q15, CEO Jim Murren sped out to Massachusetts to calm the waters in Springfield, where MGM’s serial reductions of its casino plan have stirred consternation, at best. Murren apologized for ‘lapses in communication‘ but anyone hoping for a return to the original design scheme was bound to be disappointed. Murren stood

Continue reading →

Posted in Architecture, Economy, Foxwoods, Internet gambling, Lake Tahoe, Massachusetts, MGM Mirage, Mohegan Sun, Regulation, Reno, Wall Street | Comments Off on Murren: Mission to Massachusetts

Quote of the Day

Posted on October 29, 2015 by David McKee

“If you go back to January 1 this year, everyone was still hopeful for Lawrence Ho 2a quick recovery and the fact the gaming industry was like this bulletproof industry – the idea you could throw grenades at it and it was going to be fine. But I think their attitude has changed throughout this process.” — Melco Crown Entertainment co-chair Lawrence Ho, hinting at a revocation of Macao‘s proposed smoking ban and lighter visa restrictions … but not an increase in new table games.

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Baccarat buoys the Strip; Last call for Vegas Club

Posted on October 29, 2015 by David McKee

Not only were Nevada gaming revenues up 2% last month, so were Strip revs, propelled by heavy baccarat play. In addition to 17% The Stripmore being wagered, the house played lucky, winning 24% than last year. That more than made up for a weak performance at the slots, down 5% on slightly lower coin-in and looser holds. Table games not called “baccarat” or “poker” were up 2%, despite 6% less money being wagered.

The locals market continues to confound; downtown Las Vegas was up 9% and Laughlin rose 8%. But North Las Vegas experienced a 7% decline and the Boulder Strip was off 5.5%. Outlying Clark County casinos were flat. Unfortunately, Deutsche Bank lumps Reno and ever-volatile Lake Tahoe under “Other Nevada,” although a 3% gain bodes well.

* You can write the final, sad chapter in the history of the Vegas Club. Outgoing owner Continue reading →

Posted in Boulder Strip, Churchill Downs, Downtown, Economy, Horseracing, Illinois, Internet gambling, Lake Tahoe, Laughlin, Marketing, North Las Vegas, Reno, Tamares Group, The Strip | 2 Comments

MGM: The Murren roars

Posted on October 29, 2015 by David McKee

In one of the year’s least surprising surprises, MGM Resorts International announced that it is spinning 10 of its casinos off Murren unhappyinto a REIT and is in a hurry to do so, expecting the transaction to close in the first quarter of next year. Newly constituted MGM Growth Properties will embrace Mandalay Bay, The Mirage, Monte Carlo, New York-New York, Luxor, Excalibur and The Park, along with Beau Rivage, MGM Grand Detroit and little Gold Strike Tunica. The company will also shift $4 billion of its long-term debt onto the new entity, which will have right of first refusal on MGM Springfield and MGM National Harbor.

None of MGM’s jointly owned properties, such as CityCenter, is to be included. Ditto Continue reading →

Posted in CityCenter, Illinois, Macau, Maryland, Massachusetts, MGM Mirage, Mississippi, Station Casinos, Wall Street | 1 Comment

Harrah’s auction scrapped; Airport casino nixed

Posted on October 28, 2015 by David McKee

Almost nobody wants the defunct remnants of Harrah’s Tunica Casino. Owner Caesars Entertainment has scratched a planned auction of the property because nobody except stalking horse TJM
HarrahsTunicaExteriorProperties has shown an interest in the building. TJM specializes in senior-living facilities. Is Tunica about to become the retirement capital of the South? I doubt even TJM thinks that, as it only offering $3 million for Harrah’s Tunica, barely paring so much as a hangnail off Caesars’ debt burden.

* Take Windsor Locks out of the running for a third Connecticut tribal casino. In a party-line vote, city selectmen nixed Continue reading →

Posted in Florida, Foxwoods, Harrah's, Marketing, Mississippi, Mohegan Sun, Politics, Scientific Games, Seminole Tribe, Taxes, Tribal | Comments Off on Harrah’s auction scrapped; Airport casino nixed

Quote of the Day

Posted on October 28, 2015 by David McKee

Packer“Nothing is a straight line up and weeding out corruption is an admirable thing for a government to do. Yes, in the short term it’s painful for us. But I believe the rise of the Chinese middle class is equal to the rise of the Internet in them being the two macro things that will change the world the most over the next 50 years.” — James Packer, getting in his two cents on China‘s tightened regulation of the Macao casino economy.

Posted in Economy, James Packer, Macau, Regulation | Comments Off on Quote of the Day