Quote of the Day

By David McKee ~ August 29th, 2014 @ 1:37 pm No Comments »

Revel.jpgAs it pertains to Revel, management [of Boyd Gaming] believes that any buyer would have to spend significant time and money to make the asset viable going forward.” — J.P. Morgan analyst Joseph Greff, making it clear who won’t be bidding on Revel.

Illinois: Adding insult to injury; Sheldon’s nuisance

By David McKee ~ August 29th, 2014 @ 10:29 am No Comments »

Casino-based slot machines in Illinois are now outnumbered by ones in convenience stores, bars and truck stops. To make the challenge even worse, the Legislature — which goes out of its way to kneecap the Land of Lincoln’s existing casinos — is contemplating doubling the amount of machines allowed in convenience locations.

SlotTo some extent, the Illinois Casino Gaming Association is to blame, for having stood to one side when the initial enabling legislation went through, bringing truck-stop slots with it. “We underestimated the kind of impact it was going to have. We thought by putting a limit on the number of devices [five per site] it wouldn’t hurt us much,” says Executive Director Tom Swoik, a bit lamely.

The Lege’s priorities, of course, were to Continued >>

Strangest story of the year

By David McKee ~ August 29th, 2014 @ 8:59 am No Comments »

Steve Wynn‘s Encore is making news in a way its owner would probably prefer it didn’t (and not for the first time this year). Bryanna Warren, Trinity Kennard and Encore 1Charmella Triggs picked up a couple of guys in an Encore bar and lured them up to the mens’ hotel room. (They probably didn’t need much luring, I reckon.) For some dumb reason, the johns allowed themselves to be persuaded to remove their watches during sex. Now, one of the watches is a $12,000 Rolex Submariner and the other a $4,000 Rolex GMT Master, so you can see how moronic it was to take them off.

The women made a grab for the timepieces, holding their victims at bay with a stun gun. They made it as far as the taxi rank, where Continued >>

Recovery in Vegas? It depends on where you stand

By David McKee ~ August 28th, 2014 @ 1:52 pm No Comments »

Chips and cardsJuly was a mixed blessing for Nevada. Gambling revenue was up 5% along the Strip, down 4% among locals and essentially flat statewide. Strip casinos won big at baccarat, with player losses increasing 16% on 24% heavier play. Non-Strip baccarat play was down 5%, with win of almost 1%. Wrote J.P. Morgan analyst Joseph Greff, ” we maintain our positive outlook for the LV Strip and believe the overall recovery will continue as 2014 progresses.”

Except for the nebulous “Balance of Clark County” and “Other” categories, all outlying gaming jurisdictions were down or flat: Downtown (-3%), Laughlin (flat), Reno (-2%), Boulder Strip (-10%), North Las Vegas (-2%), Lake Tahoe (-22.5%), Elko (-10%) and Carson Valley (-4%). It’s rough out there in the boonies.

Some Wall Street analysts, however, Continued >>

Further Reading

Quote of the Day

Illinois: Adding insult to injury; Sheldon’s nuisance

Strangest story of the year

Recovery in Vegas? It depends on where you stand

Loveman’s big score; Slots come to Dayton

Caesars has a live one, Revel not

Quote of the Day

Bad ideas never die; The Fugees; Left holding the bag

Horseshoe Baltimore launches; Hypocrisy in Indiana

Quote of the Day

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