Quote of the Day

Posted on April 25, 2012 by David McKee

“Madam President, I’ll come home tonight … and there’ll be some mail there. A lot of it is what some people refer to as junk mail, but for the people who are sending that mail, it’s very important. And when talking about seniors, seniors love getting junk mail. It’s sometimes their only way of communicating or feeling like they’re part of the real world.” — Sen. Harry Reid (D-NV), singing the praises of the bulk-rate crap that clogs our mailboxes … and ultimately our recycling bins. What a lovely thought: In 15 years, the highlight of my day will be to receive a Vons circular.

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Weirdest “Little Whorehouse”

Posted on April 25, 2012 by David McKee


Living in Las Vegas podcasters Scott & Melissa Whitney checked out the Plaza Las Vegas‘ production of The Best Little Whorehouse in Texas are were, to say the least, nonplussed by Amateur Night antics too strange to describe. The bizarrie starts around the 18-minute mark.

Posted in Current, Downtown, Entertainment, Movies, Tamares Group, Technology | 1 Comment

Sauce for the goose; Wall Street hearts LVS, MGM & Melco

Posted on April 23, 2012 by David McKee

Sheldon Adelson must have great and abiding faith in the American legal system … at least some of the time. He’s counting on it to cover his butt over in Macao, where erstwhile partners Asian American Entertainment have filed suit against Las Vegas Sands, more fallout from the company’s promiscuous dalliance with Chinese business interests. This is at least the third lawsuit dogging the Doge of Venelazzo. He lost a round to former go-between Richard Suen, but that verdict’s been sent back for retrial. Sands also paid $42.5 million to be rid of a trio of Macanese businessmen who were suing the company. Giving Adelson’s carnivorous appetite for litigation, that threesome must have had him dead to rights. Settling out of court has never been his style.

Asian American pursued the U.S. version of its case in desultory fashion, getting thrown out of court in ’09 for not even bothering to Continue reading →

Posted in Boyd Gaming, Economy, International, Isle of Capri, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Penn National, Sheldon Adelson, Steve Wynn, The Strip, Tourism, Wall Street | 2 Comments

Maryland accord totters; Massachusetts cities get testy

Posted on April 23, 2012 by David McKee

Never say “never” but a pet casino project of Maryland Senate President Thomas V. “Mike” Miller Jr. is in critical condition. The sweetheart deal, which would gift-wrap a casino for National Harbor in Miller’s Prince George’s County (in return for concessions to existing operators), is pegged at a cost of $1 billion. Considering Maryland’s 67% tax — to be “relaxed” to 60% if Miller’s bill passes — this is an enterprise only for the foolhardy. Even sitting across the river from the District of Columbia, potentially interdicting business that would go to Baltimore, spending a cool billion would be an exceptionally difficult investment to recoup when the state is taking six dollars out of every 10 in your till.

While Gov. Martin O’Malley (D, right) is no friend of gaming in general, he’s got a point that Miller and his colleagues are moonstruck. They’re bedazzled by the idea that a Prince George’s casino is the panacea that will cure the state’s budgetary ills. Neither in the long term nor the short one is a megaresort going to close a $500 million revenue shortfall. And, as long as the Lege is rewriting the rules of casino development in the state, why leave Penn National Gaming‘s Rosecroft Raceway out of the discussion altogether? Penn has been an obnoxious brat and poor corporate citizen, to be sure, stirring up political trouble and probably making few Annapolis friends along the way, but the peremptory award of a site to National Harbor is another instance of Continue reading →

Posted in Current, Economy, Harrah's, Maryland, Massachusetts, Penn National, Politics, Racinos, Regulation, Reno, Steve Wynn | 1 Comment

“Relic Hunter” Live?

Posted on April 23, 2012 by David McKee

Now that Dancing with the Stars‘ satellite show is off and hoofing at the Tropicana Las Vegas, PR people keep proffering interviews with guest star Tia Carrere. Yes, the Relic Hunter herself. This is — or might be — all very exciting, but … does it interest you? Should I do it? What would you like to ask? I make no promises but neither do I think I should have all the fun to myself. Sorry ladies, no Maks: He’s busy in Los Angeles, trying to create the illusion that Melissa Gilbert can dance … clearly a dire punishment for his outspokenness on behalf of Hope Solo last year.

Posted in Alex Yemenidjian, Entertainment, The Strip, TV | 1 Comment

“Less-than-Best Little Whorehouse”

Posted on April 20, 2012 by David McKee

Last night, fledgling SFS Productions rolled out The Best Little Whorehouse in Texas at the Plaza Las Vegas and, true to its subject matter, it’s a emotionless copulation — to borrow a Pauline Kael line, it’s a practiced hooker with cold hands and no thoughts of love. That’s the nice way of putting it. At $73-$84/ticket, paying customers ought to be outraged: Broadway prices for big-budget community theater. Or maybe “low-budget;” the dingy, skeletal set looks like it was knocked together on the cheap and not only are the instrumentals relegated to backing tracks, so are many of the choral parts. Displaying breathtaking stinginess, SFS doesn’t even supply theatergoers with programs, just flashes Continue reading →

Posted in Arizona, Current, Downtown, Entertainment, Environment, MGM Mirage, Riviera, Tamares Group, Technology, Texas, The Strip, Tourism | 6 Comments

Gilbert, Caesars hit Ohio speed bump; Maple Leaf misadventure; Rearranging deck chairs on the WesCas

Posted on April 20, 2012 by David McKee

Rub a dub-dub, three companies in a tub called Rock Ohio Caesars. In emulation of Nevada‘s built-first-license-later system, the Ohio Casino Control Commission is just getting around to mulling the bonafides of Horseshoe Casino Cleveland‘s shareholders. Little-publicized minority partner Lyle Berman (left, who owns a 10% stake) got a clean bill of health from Spectrum Gaming Group. However, questions were raised about the financial outlook from debt-ridden manager/co-owner Caesars Entertainment. Company treasurer Eric Hession tried to allay concerns by saying the company’s indebtedness was down to a mere $21 billion. (Whew! What a relief.) He added that Caesars was “recovering,” which is a bit like saying you’ve got pancreatic cancer but Continue reading →

Posted in Columbia Sussex, Current, Detroit, Harrah's, Horseracing, International, Iowa, Kansas, Lyle Berman, Macau, Massachusetts, MGM Mirage, Ohio, Pennsylvania, Politics, Regulation, Sports, Stanley Ho, The Strip, Wall Street | 2 Comments

Quote of the Day

Posted on April 20, 2012 by David McKee

“We clearly believe that supply growth is outpacing demand.” — Foxwoods Resort Casino CEO Scott “Woody” Butera, explaining a possible move into Internet gambling. Wow. I knew U.S. gaming expansion would hit the wall eventually — but I never thought I’d live to hear a casino boss admit it.

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Macao: Crossed fingers at Wynn; Confrontation at Melco

Posted on April 19, 2012 by David McKee

According to the Jornal Tribuna de Macau, by the end of the month, Wynn Resorts and the government of Macao “may sign” the long-awaited land tender upon which the fate of $2.7 billion Wynn Cotai rests. It “could be” a done deal by May Day — in which case I think Steve Wynn should brandish the hammer and sickle in celebration. All depends on the fickle whims of the Lands & Public Works Bureau, which moves in sluggish and unpredictable fashion. In the past, false alarms of this nature have emanated from within Wynn HQ, so the Jornal‘s report — citing a government source — deserves more credence than company announcements. Still, Wall Street is receiving the news with understandable caution. This wouldn’t be the first time Macao has toyed with Comrade Steve’s hopes, only to dash them cruelly within days.

At least Wynn is in far better odor than Melco Crown Entertainment co-chair Lawrence Ho, who got slapped down by the government this week. Last year, he (perhaps injudiciously) predicted Continue reading →

Posted in Cirque du Soleil, Current, Derek Stevens, Downtown, Entertainment, Harrah's, Hooters, Lawrence Ho, Macau, Melco Crown Entertainment, Regulation, Sheldon Adelson, Steve Wynn, Tamares Group, The Strip, Tourism, Wall Street | 2 Comments

Penn, Vegas to GSA: Thank you!; What price Victorville?

Posted on April 19, 2012 by David McKee

With so many fine hotels to choose from in Las Vegas, it’s no wonder that it took disgraced General Services Administration Regional Commissioner Jeffrey Neely no fewer than eight ‘fact-finding’ missions at a cost of $130,000 (or $16,250 per vacation investigation) to settle upon M Resort. This is serious research, people! But hey, as long as the GSA’s in a generous mood, we’ll take it. Unfortunately, the words “Las Vegas” are all that’s required to get the churchy set’s panties in a twist, so this scandal — and it deserves to be one — has become a much larger political football than it would be had the offending orgy been held at the Sheraton Tuscaloosa … if such a hostelry even exists.

So far, it appears that the conduct of Penn National Gaming was on the up-and-up, as ABC News attests. Hell, M even threw in a $21,540 discount, which was pretty damn “george” of them. And kudos to the Penn execs who wooed the GSA away from high-powered competitors on the Strip. Well played!

If any Penn execs had their feelings hurt by the media fallout of recent days, they’re crying Continue reading →

Posted in Ameristar, Cordish Co., Current, Economy, Entertainment, Hard Rock Hotel, Harrah's, Harry Reid, Illinois, International, Isle of Capri, Kansas, Maryland, Missouri, Ohio, Penn National, Pinnacle Entertainment, Politics, Racinos, Technology, The Strip, Tourism, Transportation, TV, Wall Street, Warner Gaming | 1 Comment

Quote of the Day

Posted on April 15, 2012 by David McKee

“There doesn’t appear to be no respite in sight for Full Tilt Poker, especially after it has once again been hit with another class-action lawsuitfrom [sic] disgruntled online poker players.” — latest dispatch from CalvinAyre.com. Holy grammatical meltdown, Batman!

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The continuing adventures of Sheldon Adelson, Harry Reid and the GSA

Posted on April 14, 2012 by David McKee

First, the good news. Business is off and running at brand-new Sands Cotai Central, whose Himalaya casino (372 tables, 600 slots) opened last Wednesday. In total square footage, it overtakes Venetian Macao for status as the world’s largest casino (30% larger) and will be joined by the Pacifica casino in September. Incidentally, if you think the current Revel opening is “soft,” Sands Cotai is still a year away from completion. When finished, it will unleash an additional 5,800 hotel rooms and 600 stores onto the Macao marketplace. The former are going to be a real “supply shock” for a hotel market that was finally getting up to speed in terms of occupancy rates and length of stay. CLSA casino analyst Jon Oh made the trek to Sands Cotai and found “a large crowd swarming the property.” He predicts Sands share of the Macanese gaming trade will grow sufficiently to push it past the 20% level … which would significantly narrow the gap between Sands China and market leader Sociedade de Jogos de Macau. Mr. Oh further projects $691 million in cash flow next year, which — given the project’s $5 billion price tag — works out to a 14% return on investment. Fairly impressive. However, when you consider that Galaxy Macau (albeit with 3,600 fewer hotel rooms) was built for $1.9 billion, you have to wonder if Sands is getting the most bang for its buck.

Adelson indicated that he’s dickering with Macanese authorities about getting Continue reading →

Posted in Atlantic City, Boyd Gaming, California, Current, Economy, Election, Florida, Genting, Harrah's, Harry Reid, history, International, Macau, Massachusetts, New York, Penn National, Pennsylvania, Sheldon Adelson, Sports, Stanley Ho, Technology, The Strip, Tourism, Transportation, TV, Wall Street | 5 Comments

Quote of the Day

Posted on April 14, 2012 by David McKee


“I was brought up Catholic; this feels wrong.” — Dancing with the Stars host Tom Bergeron, when brought onstage and instructed to shake his booty by Lacey Schwimmer during last night’s preview of the DWTS satellite show at the Tropicana Las Vegas.

Posted in Alex Yemenidjian, Current, Entertainment, The Strip, Tourism, TV | Comments Off on Quote of the Day

Sheldon Adelson, super villain

Posted on April 13, 2012 by David McKee

“Where’s the white cat,” asked an S&G reader when photos from the grand opening of Sands Cotai Central showed Sheldon Adelson doing a superb impersonation of Ernst Stavro Blofeld, “crumpets” in attendance. You can just imagine him sitting there, brainstorming a plan to steal nuclear warheads from NATO and blackmail sovereign nations into doing his bidding, can’t you? Adelson’s notorious goon squad and habit of using Las Vegas Sands as his personal piggy bank also help burnish his master-villain credentials. Characterizing probable “mystery donor” Big Shel as a “man trying to buy himself a president is under three investigations for violating the Foreign Corrupt Practices Act,” Rolling Stone dug long and hard into Adelson’s fractious history since coming to Las Vegas and bringing his confrontational style with him. It revisits such golden oldies as the deadbeat business practices that got the Venetian built and the time Adelson allegedly reduced a local rabbi to tears in front of the man’s own son. That’s not to mention Chinese Communist fanboy Adelson’s well-documented hostility toward manifestations of free speech and Ugly American tendency to brandish his billfold to get his way.

How’s that “buy the White House” thing coming, by the way? Not so good. Adelson’s legacy of kiss-of-death political endorsements now counts the increasingly shambolic presidential campaign of Continue reading →

Posted in Current, Election, Harrah's, International, Internet gambling, Macau, Massachusetts, Movies, Pennsylvania, Politics, Regulation, Sheldon Adelson, Singapore, Steve Wynn, The Strip, Tourism | 7 Comments

Crash landing

Posted on April 12, 2012 by David McKee

Over the last two days, while I’ve been at home, supervising having the roof put back on our house (seriously!), some of you have been kind enough to send variations of this story. It will soon be the subject of a two-part “Question of the Day.” In the meantime, let me just say that even for Vegas it’s one of the Continue reading →

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Swelled head

Posted on April 10, 2012 by David McKee

Now, I know that Steve Wynn has a big ego — not unjustifiably — and can get carried away at times, but I doubt that it causes his noggin to swell to abnormal dimensions. Forbes Asia must think its readers to be real idiots, judging by the brazen fakery of its April cover. (Larger versions are available upon request.) Whatever assclowns they’ve got playing around with Photoshop evidently haven’t heard of things like “proportional relationships.” Hence, a cover photo that makes it look as though the CEO of Wynn Resorts has had his head transplanted onto the body of a well-dressed Munchkin. Were the art-direction monkeys just swapping out random body parts from different shots of Wynn and not bothering whether they matched — or did they put some random guy in a suit and superimpose Wynn’s head on his torso? Whatever the case, it’s laughably amateurish … and just what until you see what they did to Sheldon Adelson …

Posted in International, Sheldon Adelson, Steve Wynn, Technology | 3 Comments

Boffo February in Nevada

Posted on April 10, 2012 by David McKee

Casinos in the Silver State were up 6% in February, which is pretty damned impressive when you consider that Chinese New Year fell in January this year, giving Month #2 a tough row to hoe. But, with the exception of ever-volatile Lake Tahoe, every major Nevada market came through with flying colors. I’m committed on a couple of other fronts at the moment but if you want an efficient rundown of who’s up and who’s … uh, up even further, check out David G. Schwartz‘s Twitter feed for the facts and figures. Dr. Dave will take care of you.

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Illinois: Visit more, spend less; Harrah’s breaks losing streak

Posted on April 9, 2012 by David McKee

Although recent investor presentations by the major casino and game-making companies would leave one feeling pretty sanguine about the economy, “pallid” is the word for the industry’s performance in Illinois last month. Attendance at casinos rose 21% but spending was flat. Most of that increase was attributable to Rivers Casino ($35 million, right), which lifted the state’s take 21%. However, with Rivers subtracted from the picture, revenues were 8% down. MGM Resorts International‘s Grand Victoria got pummeled again, -17%, showing the kind of double-digit volatility one associates with a much lower-grossing property, not one that won $20 million lat month.

Penn National Gaming‘s portfolio took it in the shorts, posting declines at Hollywood Aurora (-14.5%), Empress Joliet (-9%) and Alton Belle (-9%). A huge month for Harrah’s Metropolis (+14%) all but negated Continue reading →

Posted in Ameristar, Boyd Gaming, Economy, Harrah's, Illinois, Iowa, Isle of Capri, Macau, MGM Mirage, Neil Bluhm, Penn National, Sheldon Adelson, Steve Wynn, Taxes, The Strip, Wall Street | Comments Off on Illinois: Visit more, spend less; Harrah’s breaks losing streak

Last night at the Palms

Posted on April 6, 2012 by David McKee

Kelly Clarkson rocked The Pearl to its foundation with a joyous, 80-minute set. Unfortunately for us (but happily for them), these anonymous videographers had better Continue reading →

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Trump Plaza reprieved; Stirrings at Sahara

Posted on April 5, 2012 by David McKee

Good news for Trump Plaza: It’s off the “death watch,” having dramatically reversed its fortunes last year. Although revenues continue to decline, gross operating profit swung from a $2 million loss in 2010 to a nearly $3 million gain last year. This is terrific news for Trump Entertainment Resorts, which has been effectively subsidizing the Plaza out of Trump Taj Mahal‘s operating profits. CEO Robert Griffin is obviously doing something right. However, the new, grind-joint strategy at The Atlantic Club (aka the immortal ACH) had better start yielding improved EBITDA soon. It posted a $20 million operating loss last year, during the same period that the late Dennis Gomes was taking Resorts Atlantic City from $18.5 million in the hole to a $14 million deficit … not out of danger but a significant step in the right direction. Another rescue project, the Golden Nugget, narrowed its operating losses roughly 25%.

The occupancy-rate trophy goes to Caesars Atlantic City, at 93%. It was also one of the few other casinos to report cash-flow gains, along with the Taj and Showboat Casino Hotel. Despite a 7% cash flow decline, Borgata was crying Continue reading →

Posted in Colony Capital, Current, Dennis Gomes, Donald Trump, Economy, Entertainment, Fontainebleau, Harrah's, Sahara, The Strip, Tilman Fertitta, Tourism, Transportation, Tropicana Entertainment, Wall Street | 4 Comments