Boardwalk despair; Comings and goings on the Strip

By David McKee ~ July 22nd, 2014 @ 1:23 pm No Comments »

It’s a dark day when you find yourself in agreement with Donald Trump, but such is the case with the famous Atlantic City boarding house owned by Vera Coking. Eight years ago, when he wanted to expand Trump Plaza, The Donald offered $1.9 million at least — more, he claims. When that didn’t work, he sicced the Casino Reinvestment & Development Authority on Ms. Coking. They went the eminent-domain route, offering $251,000. Ms. Coking’s position was eminently reasonable: It was her property and she didn’t want to sell it. She even was taken to court and emerged victorious.

However, by taking a completely admirable — if impractical — position, Ms. Coking has cost herself a big payday. Her boarding house is finally trump deskgoing on auction, with a starting price of $199,000. Its owner might be lucky to get that much. It has already gone from $5 million to $1 million to a fifth of that amount. “It’s mostly pawnshops, cash-for-gold places, a bar, a couple of liquor stores. We did get a call from some Chinese investors, and one guy wants to do a pharmacy,” Auction AdvisorsOren Klein reports of the potential buyers. However, neither  Continued >>

Argosy saved … for now

By David McKee ~ July 21st, 2014 @ 11:08 am No Comments »

Not only has the Iowa Supreme Court not ruled on Judge Elizabeth Ovrom‘s ruling to close Argosy Sioux City, it hasn’t decided whether penn-national-gamingor not to hear the case. However, it still has kept the Penn National Gaming riverboat on life support. It could just be a matter of days — or one of months. All depends on whether the high court chooses to hear Penn’s appeal of the Iowa Racing & Gaming Commission‘s closing order. Considering that it has been allowed to keep the Argosy open for a year unlicensed under a clause called “operation of law,” Penn’s fate could have been far worse than its current predicament would indicate.

* Kudos to the surveillance staff at Sands Bethlehem. They spotted and helped Pennsylvania state police arrest alleged casino cheat Jubreal Chahine, wanted by Continued >>

Thinking the unthinkable

By David McKee ~ July 21st, 2014 @ 10:22 am 1 Comment »

Could Nevada casino floors go genuinely smoke-free? That’s the idea floated by Deutsche Bank analyst Andrew Zarnett. Although Nevada
smokingvoters have exempted casino floors from smoking bans, Zarnett thinks that state of affairs could change by 2016 or so, at the casino industry’s behest. He cites the example of Macao, which — mirabile dictu — is going smoke-free in October? It’s one of those “Only Nixon could go to China” moments (to borrow a famous Vulcan saying) that will increase pressure on Big Gaming by clean-air advocates. At present, there’s no better way to pick up some second-hand fumes than, say, traveling one of Palazzo‘s ludicrous “smoke-free corrdiors” — as though smoke respects an invisible line in the sky.

There’s peril in the idea, of course. Illinois‘ gaming revenues dove 21% in 2007 (a boom year elsewhere) when a smoking ban was imposed. Delaware‘s 2002 ban was followed by Continued >>

Strange doings in Alabama

By David McKee ~ July 18th, 2014 @ 12:04 pm No Comments »

Flag_of_Alabama.svgContinuing its persecution of the Poarch Creek Band of Indians, the State of Alabama is taking them to federal appeals court. And it looks like state Attorney General Luther Strange might have a leg to stand on. He’s citing the Carcieri v. Salazar, which prevents the Department of Interior from taking land into trust for gambling purposes for tribes recognized after 1934. The Poarch Creek Indians weren’t recognized until 50 years later.

The other prong of Strange’s argument regards the Class II machines used by the tribe and devolves into an “Is so!” “Is not!” argument with Continued >>

Further Reading

Boardwalk despair; Comings and goings on the Strip

Argosy saved … for now

Thinking the unthinkable

Strange doings in Alabama

Prosperity in Detroit? You bet; Penn’s persistence

Marrandino returns; Crime and casinos

Reversal in Phoenix; Flame out

Paradox at Sands

Take my casino, please; Nail-biter in Iowa

Russian roulette in Boston

©2007-2014 Stiffs and Georges | powered by WordPress | Theme Design:Fat Cat Designs| Privacy Policy