Adelson finds his man

Posted on October 13, 2015 by David McKee

Marco Rubio could be justthisclose to a Sheldon Adelson endorsement. When Rubio was in Las Vegas last week, playing counterpoint to Donald Trump, he had a meeting Sheldon pashawith Adelson that “had an air of importance” according to Politico.com. Should Adelson give Rubio the nod, it would put a tailwind of at least $100 million behind his campaign. Sons of immigrants, Adelson and Rubio are both frequent phone pals. Rubio has been courting other potential megadonors, like Paul Singer and Charles Schwab, but their war chests pale in comparison to what Adelson (net worth: $25.7 billion) could throw into the race.

Although Adelson is officially neutral at this point, he appears to have tipped his hand through a story in his newspaper Haaretz. Its headline unequivocally stated, “Sheldon Adelson Leaning Toward Marco Rubio.” It cited “sources close to Sheldon Adelson” (read: Sheldon Adelson) that “momentum has strongly shifted to Continue reading →

Posted in Culinary Union, Donald Trump, Election, Florida, Geoff Freeman, Internet gambling, Politics, Sheldon Adelson, Station Casinos, Wall Street, Wisconsin | 3 Comments

Mad slot skillz; Tribes at war with one another

Posted on October 12, 2015 by David McKee

Skill-based slot games are a long way from deployment but that didn’t discourage The Motley Fool‘s Jeff Hwang from scouting the Global Gaming Expo show floor in search of entertaining product. The games he saw the greatest potential in were Gamblit Gaming‘s Scientific GamesGrab Poker (despite some concerns about the potential for collusion), International Game Technology‘s Texas Tea Pinball, Scientific Games‘ Space Invaders and NanoTech Gaming‘s Vegas Pinball 2047. Everything else he lumped in the “needs work” category.

He wrote that “most of what was shown are clones of popular non-gambling games with wagering technology slapped on, and not necessarily in a way that makes sense … the most aggressive innovations are coming from smaller upstarts like Continue reading →

Posted in California, Economy, G2E, IGT, Internet gambling, MGM Mirage, Pennsylvania, Scientific Games, Technology, Tribal | Comments Off on Mad slot skillz; Tribes at war with one another

McCheese baffles Wynn; Straub thwarted again

Posted on October 12, 2015 by David McKee

Boston Mayor Martin “McCheese” Walsh has Wynn Everett President Robert DeSalvio “baffled” with his schizoid approach to martinjwalsh-headshotthe hotel-casino. After having an apparently conciliatory meeting with Walsh, DeSalvio was bushwhacked by a McCheese-launched lawsuit to halt construction on Wynn Everett. “We were somewhat baffled by the resulting litigation that followed and I really can’t answer for it. I don’t know why that 
action was taken,” DeSalvio told Boston Herald Radio.

Although he risks driving off $1.7 billion in development, Walsh’s rule-or-ruin approach is polling well in Boston, where it enjoys Continue reading →

Posted in Arizona, Atlantic City, Glenn Straub, Harrah's, Horseracing, Massachusetts, Mohegan Sun, New York, Racinos, Revel, Steve Wynn, Tribal, Wall Street | Comments Off on McCheese baffles Wynn; Straub thwarted again

Trump Trek: The wrath of Khan

Posted on October 8, 2015 by David McKee

Trump flyerDonald Trump‘s touring show is playing Treasure Island even as I type this (Phil Ruffin was the opening act). The Culinary Union‘s Bethany Khan was loaded for bear and unleashed this blast at The Donald today.

Posted in Culinary Union, Donald Trump, Phil Ruffin | Comments Off on Trump Trek: The wrath of Khan

So long, Sammy; DFS gets a wakeup call

Posted on October 8, 2015 by David McKee

As predicted here, Sam Nazarian has liquidated his 10% stake in SLS Las Vegas to majority owner Stockbridge Capital Group. He’ll still get some extra cash out of the deal, which licenses his SLS brand to Stockbridge (although you could call the place Sam’s Shack snazas have as much brand equity). With the departure of Sam The Sham, we will hopefully have an end to newspaper mentions of Nazarian as a “visionary.” After all, unlike SLS, CityCenter actually produces a return on investment but nobody has ever lobbed the V-word around in reference to Jim Murren. By getting The Naz out of the picture Stockbridge “says it allows the SLS Las Vegas more flexibility to switch out brands and restaurants,” says the Las Vegas Sun.

That would seem to portend drastic changes at the property, which has already severed ties with retailer Fred Segal and may have many more surprises in store. Considering that SLS Las Vegas is sinking fast, Continue reading →

Posted in Aristocrat, G2E, Regulation, Sam Nazarian, SLS Las Vegas, Sports, Wall Street | Comments Off on So long, Sammy; DFS gets a wakeup call

Buckeye bounce; Macao’s woes a secret benefit?

Posted on October 7, 2015 by David McKee

Casino and racino revenues in Ohio were up nicely last month, +6.5%. We’re still at least a month away from having a full set of Toledo Casinoyear/year comparisons but Gov. John Kasich‘s decision to supersize a four-casinos-only constitutional amendment into four casinos and seven racinos is paying off handsomely for the Buckeye State. (Too bad he can’t use those talking points out on the campaign trail.) The overall results were about what you’d expect: Penn National Gaming up, Rock Gaming down. Among smaller operators, Eldorado Resorts‘ Scioto Downs was flat ($11 million) and Continue reading →

Posted in Dan Gilbert, Economy, Eldorado Resorts, GLPI, Hard Rock International, Harrah's, Macau, Ohio, Penn National, Pinnacle Entertainment, Racinos, Steve Wynn | Comments Off on Buckeye bounce; Macao’s woes a secret benefit?

Doubling down on Philadelphia; Baltimore throws a Horseshoe

Posted on October 7, 2015 by David McKee

Cordish Gaming got the go-ahead to start building its Packer Avenue casino in Philadelphia. The news came on the same as a bulletin that should give Cordish pause, with SugarHouse casino reporting a 4% drop in slot revenues. Given the amount of gaming Cordish Phillyproduct in the greater Philadelphia market, Cordish should probably brace itself for disappointment. It remains a puzzlement why Greenwood Racing is a joint-venture partner in this project, one which is likely to dilute Parx Casino revenues. Perhaps Greenwood has subscribed to the old Gary Loveman business model of flooding a market with your product and hoping to get more money out of it than anybody else, even if you’re your own primary competitor. (A strategy that’s not working too well in Cleveland these days.)

In any event, Cordish’s $400 million Stadium Casino will flood the market with an additional 2,000 slots and 125 table games. It also still has to clear several legal hurdles, including Continue reading →

Posted in Cordish Co., Foxwoods, Greenwood Racing, Harrah's, Maryland, Mohegan Sun, Neil Bluhm, Pennsylvania, Tribal | Comments Off on Doubling down on Philadelphia; Baltimore throws a Horseshoe

No boost for Illinois; The wrath of Wynn

Posted on October 7, 2015 by David McKee

So much for the invigorating effect of Labor Day weekend. Even with a holiday, September in Illinois still saw a decline in casino revenue. Casinos in the Land of Lincoln were down 5% for the month. Foot traffic fell 2% and spending was off by 3%. MGM Resorts Grand Victoria ILInternational‘s Grand Victoria ($14 million) continues to stage a comeback, though, up 4%. That was a rare bright spot in the northern tier of the state, where even Rivers Casino ($32 million) was 14% down. Harrah’s Joliet ($15 million) fell 13%, while Empress Joliet ($10 million) was up 10% but Penn National Gaming‘s Hollywood Aurora ($9 million) dove 7%. Out west, Jumer’s Casino Rock Island ($6 million) staged a rally, up 5%.

To the south, things were somewhat better, with Harrah’s Metropolis ($6.5 million, up 4%) enjoying a positive month, while the percentage declines Continue reading →

Posted in Boyd Gaming, GLPI, Harrah's, Illinois, Massachusetts, MGM Mirage, Neil Bluhm, Penn National, Regulation, Slot routes, Sports, Steve Wynn | Comments Off on No boost for Illinois; The wrath of Wynn

Quote of the Day

Posted on October 7, 2015 by David McKee

macao1952“We believe sentiment has recently benefitted from comments made earlier this month by Li Gang, the director of the Liaison Office between Macau and Mainland China, where he stated that the central government is going to release more measures to support Macau’s economy and that most of these measures (no details were given) will relate to the gaming industry.” — from a report by J.P. Morgan analyst Joseph Greff. Like, duh, Mr. Li. Eighty percent of Macao’s economy is gaming. What else are you going to prop up?

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

Trouble in Fantasyland

Posted on October 6, 2015 by David McKee

Remember, it’s not whether you win or lose but whether you covered the spread.

Untoward, insider dealings in a completely unregulated, gray-area, half-understood  industry? Why, I’m shocked, I tell you, shocked! At least the allegations of self-dealing within DraftKings and FanDuel might explain the preposterously large amount of winnings claimed by some of the Joe Schmoe characters who pop up in those ubiquitous TV commercials. One DraftKings employee racked up $350,000 from FanDuel after “inadvertently releasing data before the start of the third week of N.F.L. games,” according to the New York Times. We’ve come a long way from the weekly football pool in the company office.

Both FanDuel and DraftKings assure us that Continue reading →

Posted in Regulation, Sports | Comments Off on Trouble in Fantasyland

MGM reassures Springfield; New gig for Loveman

Posted on October 6, 2015 by David McKee

MGM Resorts International President William Hornbuckle‘s promptly arranged visit to Springfield took on the nature of a damage-control effort yesterday. Hornbuckle made an unequivocal commitment to the city, saying, “We have not gone anywhere, we will not go anywhere and we will be here to the end of this.” He also said that the company had already poured $250 million into the project, and the publicly available figures (which include line items like the Massachusetts license fee) come to $235 million, which we’d say is close enough.

Hornbuckle also dangled the prospect of a high-rise hotel tower if the casino is successful enough to warrant Continue reading →

Posted in Boyd Gaming, Florida, Harrah's, Massachusetts, MGM Mirage, Regulation, Technology | Comments Off on MGM reassures Springfield; New gig for Loveman

MGM sends emissary to Springfield; Florida tribe takes a loss

Posted on October 5, 2015 by David McKee

Undoubtedly realizing that it laid a public-relations egg with its scaled-down redesign of MGM Springfield, parent company MGM HornbuckleResorts International is sending President William Hornbuckle to Springfield to mend fences with Mayor Domenic Sarno. Actually, Sarno has been in MGM’s corner from the get-go. It’s the city council and its constituents that Hornbuckle needs to mollify. (While he’s there, Hornbuckle might ask project president Michael Mathis why costs are “skyrocketing” in an economically depressed area.)

Well, not needs, since the council made a complete hash of its attempt to obtain a referendum on MGM’s proposed changes. It missed the September 29 deadline for Continue reading →

Posted in Architecture, Economy, Florida, Massachusetts, MGM Mirage, Penn National, Regulation, Steve Wynn, Tribal, Wall Street | Comments Off on MGM sends emissary to Springfield; Florida tribe takes a loss

Dan Lee’s Colorado lode; The Caranos take Reno

Posted on October 5, 2015 by David McKee

Since overthrowing the leadership of Full House Resorts, new CEO Dan Lee has been chock-full of initiatives. His latest is to drop DanLee$30 million to acquire Bronco Billy’s Casino & Hotel, in Cripple Creek, Colorado. The move comes as Colorado emerges from a prolonged slump as a casino market — and Lee’s purchase of additional buildings and land besides Bronco Billy’s betokens expansion. The hotel (24 rooms) isn’t much — hence the extra land? — but Lee gets 828 slots and the usual assortment of table games.

Full House came along at the right time for an aging ownership group that was “looking for a transition.” If memory serves, Lee obtained the casino at a favorable Continue reading →

Posted in Atlantic City, Colorado, Dan Lee, Delaware, Dining, Eldorado Resorts, Full House Resorts, International, Internet gambling, Marketing, MGM Mirage, PokerStars, Reno, Scientific Games | Comments Off on Dan Lee’s Colorado lode; The Caranos take Reno

Quote of the Day

Posted on October 5, 2015 by David McKee

Mark Frissora“Are you kidding me? I know my kids … These games need to change. The time is now.” — Caesars Entertainment CEO Mark Frissora riling up slot machine makers at Global Gaming Expo by saying he was “shocked” by the retrograde nature of the slot product he saw.

Posted in G2E, Harrah's, Technology | Comments Off on Quote of the Day

Quote of the Day

Posted on October 1, 2015 by David McKee

Geoff Freeman“Many regulators, many policymakers, are saying that this is a gray area. Well, it’s time to make it black or white. Casinos can either get involved in this business or they can’t.” — American Gaming Association President Geoff Freeman, trying to shepherd daily fantasy sports into the casino fold.

Posted in G2E, Geoff Freeman, Sports | Comments Off on Quote of the Day

Turning point for Wynn; Breakthrough for PokerStars

Posted on October 1, 2015 by David McKee

Earlier this week, the Everett Planning Board unanimously assented to Wynn Everett‘s site plan. The Medford Patch described Wynn_BG1this vote as “the most critical local permit needed by Wynn.” The resort-to-be can start pulling building permits now, with the actual start of construction projected for spring of next year. In the meantime, Wynn Resorts will be remediating the brownfield site.

It was a short-lived truce between Steve Wynn and Boston Mayor Martin “McCheese” Walsh. Sore loser Walsh is suing Wynn to have his hard-won environmental certification revoked. According to the Boston Globe, “the city asserts that Wynn and Secretary Matthew Beaton glossed over or ignored Continue reading →

Posted in Atlantic City, Economy, Environment, Harrah's, Internet gambling, Massachusetts, MGM Mirage, Mohegan Sun, PokerStars, Politics, Regulation, Sheldon Adelson, Steve Wynn, The Strip, Transportation, Tribal | 1 Comment

Catwalk beauties, oysters and organized crime at G2E

Posted on October 1, 2015 by David McKee

Pulchritude on parade was an important subtheme of this year’s Global Gaming Expo, as was showcasing Las Vegas’ many dining options. Chef Daniel Bouloud, by the way, earns our thanks for initiating “Oyster Hour” at db Brasserie in the Venetian. Between 5 and 6 p.m., Continue reading →

Posted in Dining, Entertainment, G2E, Geoff Freeman, Harrah's, Sheldon Adelson, The Mob | Comments Off on Catwalk beauties, oysters and organized crime at G2E

Malaise in Macao; Celebration at G2E

Posted on October 1, 2015 by David McKee

Wall Street analysts having revised their expectations downward well beforehand, Macao‘s 33% decline in gaming revenues hardly HotelLisboacame as a surprise. If anything, they expected worse. Deutsche Bank analyst Carlo Santarelli even noticed some “pre-Golden Week malaise” toward the end of September. “While the September result is the smallest level of decline since January … one would be hard pressed to call it encouraging,” he wrote. Play was 8% lighter in September than in August, although per-day win was better than average for a September.

The Macanese market also got a kick in the pants from the Continue reading →

Posted in Arizona, Economy, Entertainment, G2E, Harrah's, Macau, Melco Crown Entertainment, New York, Sheldon Adelson, The Strip, Tourism, Tribal, Wall Street, Wisconsin | 3 Comments

Why DFS really, really isn’t sports betting … they say

Posted on September 30, 2015 by David McKee

DraftKings CEO Jason Robins makes the preposterous argument that daily fantasy sports isn’t sports betting because there’s only 15% overlap between the two. But with sports wagering limited to a small handful of states, how could the the pool of double-threat players not be limited?

Posted in G2E, Sports | Comments Off on Why DFS really, really isn’t sports betting … they say

Baccarat slays the Strip; Do gambling and pot mix?

Posted on September 30, 2015 by David McKee

Lack of a Labor Day weekend had a minimal effect on Nevada statewide gaming revenues in August (-1%). Lower and luckier baccarat play — 17% less drop and 24% less winnings for the house — hurt particularly (especially when one considers 14% higher hold The Stripand that August 2014 was a bad month for baccarat, too, leading one to expect a better 2015 result). Despite 3% less coin-in, Strip slots took in 12% more, which ameliorated the baccarat plunge. Players wagered 8% less on Strip table games and the house won 8% less. But the baccarat woes pushed the Strip from a 4% positive month to a 5% dip.

The lack of holiday weekend seems to have been felt more in Reno (-4%) and especially at Lake Tahoe, which plummeted Continue reading →

Posted in Economy, Galaxy Entertainment, Macau, Maine, Massachusetts, Penn National, South Dakota, The Strip, Tribal, Wall Street | Comments Off on Baccarat slays the Strip; Do gambling and pot mix?