Oh no, not him again!

By David McKee ~ September 17th, 2014 @ 12:52 pm No Comments »

Trump in LVDonald Trump is posturing as the potential rescuer of Trump Plaza and Trump Taj Mahal, provided he can get them dirt cheap. (Principal creditor Carl Icahn will have a thing or two to say about that.) In true Trump fashion, he is blaming all their ills on “funds” and let’s forget all the years when he talked big but never did anything — like building something to replace Trump World’s Fair.  Trump is described by a close associate as looking at the matter “cautiously,” although he seems to have achieved his prime objective: being seen in the media as Atlantic City‘s savior.

All this is very odd coming from a man who keeps loudly congratulating himself on having gotten out at the right time. Also, the poor performance of his Continued >>

As Iowa goes, so goes America

By David McKee ~ September 17th, 2014 @ 11:42 am No Comments »

Chips and cardsIf you need any evidence of the increasing American acceptance of casino gambling as an everyday activity, just look to Iowa. Two years ago, 69% of Iowans had gambled in the previous year. Now it’s up to 78%. Mind you, it’s not all casino-driven: Casino revenues gained 4% while the lottery leapt 20%. According to the University of Northern Iowa’s Center for Social & Behavioral Research, “factors for the increase in gambling activity could be the improving national economy or an increased public awareness of the types of activities that are considered gambling for the study’s purposes.”

The news wasn’t entirely good: 8,000 Iowans were quantified as problem gamblers, with another Continued >>

Case Bets: Multimedia, Philadelphia, Maryland

By David McKee ~ September 17th, 2014 @ 10:57 am 1 Comment »

Here’s a vivid account of Multimedia Games‘ reversal of fortune, how a company focused on B-level gaming markets established a presence in Nevada, Atlantic City and Pennsylvania, and improved its value sufficiently to make it a Multimediatakeover target for Global Cash Access. One of the keys to Multimedia’s turnaround is slot platform TournEvent, which allows for multiple tourneys to be run simultaneously. Having gobbled up PokerTek earlier this year, Multimedia finds itself on the verge of being swallowed itself.

Analysts, however, don’t think the $1.2 billion GCA offer — expected to save $30 million in synergies — to be the end of the story. “We would not consider Continued >>

Boston: Wynn wins!; Changing horses at Boyd

By David McKee ~ September 17th, 2014 @ 9:36 am No Comments »

Although the Massachusetts Gaming Commission put Wynn Resorts through the wringer this past week, when the chips were down Wynn emerged the steve-wynnwinner by a 3-1 vote. The positive verdict comes with some conditions, so a second vote will be held Wednesday, to ratify yesterday’s verdict. Though the process has been contentious, Steve Wynn was in a conciliatory mood, saying, “We expect that now that a decision has been made, everybody will find it much easier to relate to one another, get on with the job of creating jobs and building a better life for the citizens of Everett and the surrounding communities in the Greater Boston area.”

Or, as Everett Mayor Carlo DeMaria said, “We’ll no longer be the butt-end of Boston.”

“The process however is not over as the vote to repeal gaming remains on the ballot for November,” cautioned Continued >>

Further Reading

Oh no, not him again!

As Iowa goes, so goes America

Case Bets: Multimedia, Philadelphia, Maryland

Boston: Wynn wins!; Changing horses at Boyd

Revel draws more interest; Risky business

Boston: Wynn takes a stand

Quote of the Day

Cycle of futility; Hard luck in Indian Country

Case Bets: Wisconsin, Nebraska, Alabama

‘I’m poorer than you are’

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