Quote of the Day

By David Mckee ~ July 27th, 2010 @ 10:17 pm 1 Comment »

“The gaming industry in particular viewed itself as nearly invulnerable, and Las Vegas … viewed itself as a place that could continually transform and develop a new destination that would be successful. This time around, it just didn’t work.” — William Eadington, director of the Institute for the Study of Gambling & Professional Gaming, at UNR, on the “unbridled optimism” of the casino industry in 2006-07.

Like I’ve been saying …

By David Mckee ~ July 27th, 2010 @ 4:10 pm 1 Comment »

… strength in hotel rates is a top-down proposition, with such “recovery” as we’re seeing being driven by high-end product. The renewed strength in the business-travel sector also jibes with reports we’ve been getting from Las Vegas Sands and MGM Resorts International of increased convention business in late 2010, extending into next year. However, this phenomenon is being seen mainly on the coasts and looks as though it will take its time trickling down to the Strip.

Nice try but … there’s little wrong with Gov. Chris Christie’s rescue plan for Atlantic City — other than its timing, for which one can’t blame Christie. He’s been in office fewer than seven months, after all.

However, Moody’s bond analyst Margaret Holloway suggests that Christie is racing the clock and Time is winning. She faults Harrah’s Entertainment for being so levered up that major capex investments are off the table. (Another triumph for Continued >>

Barbour’s futile tilt?

By David Mckee ~ July 27th, 2010 @ 3:22 pm 1 Comment »

It’s not just Mississippi Gov. Haley Barbour who opposes a planned Choctaw Indian casino in upstate Laurel (birthplace of soprano Leontyne Price). Several other Bayou State bigwigs have expressed displeasure. Now the governor’s taking the Choctaws to court, although it’s looking like a futile gesture.

Barbour’s challenge rests upon the assertion that “the policy of this state [is] to develop destination gaming for the economic benefit of all Mississippians.” Unfortunately for the governor, the Indian Gaming Regulation Act doesn’t give a tinker’s damn Continued >>

Quote of the Day

By David Mckee ~ July 26th, 2010 @ 3:50 pm 1 Comment »

“I found a business that has a good story. Despite all the attacks on the business, this is a business that’s never held its hand out, never asked for subsidies.” — former Penn National Gaming executive and would-be Gettysburg casino developer Joseph Lashinger, speaking in defense of the industry. The accompanying article provides valuable perspective on the Gettysburg casino controversy.

Further Reading

Quote of the Day

Like I’ve been saying …

Barbour’s futile tilt?

Quote of the Day

Quote of the Day

Adelson fires Sands China CEO; Kenny Guinn, 1936-2010

Quote of the Day

Chris Christie, rock star

Quote of the Day

The great Hilton showroom massacre (and other light news)

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