Blast from the past

By David McKee ~ December 19th, 2014 @ 11:14 am No Comments »

It’s time to revive the S&G tradition of a Friday film festival. Thanks to Bellagio Director of Productions Frank Coccaro for pointing the way to these nostalgia-inducing clips.

Continued >>

Nazarian’s luck, Caesars’ hoard

By David McKee ~ December 19th, 2014 @ 10:41 am No Comments »

Sam Nazarian won’t be able to have an operational role in the casino at SLS Las Vegas but he’ll be able to participate in its revenue stream now that he is finally the holder of a Nevada Nazariangaming license — albeit a heavily conditional one. Howard Stutz‘s Twitter feed contains such a vivid tweet-by-tweet account that any further synopsis feels almost superfluous. The hearing had a Kabuki-theatre quality to it: testimonials to Nazarian, statements of contrition from the man himself, pro forma scolding from the Nevada Gaming Commission and then a unanimous vote in his favor. However, the Commission imposed a couple of additional terms on Nazarian’s highly provisional license, including making the mandatory drug testing more … intimate. A bit of unplanned drama was added when Nazarian hanger-on Derrick “Smokey” Armstrong showed up, attempting to testify, only to be arrested on outstanding warrants. (Why couldn’t he have said his peace, then been cuffed?)

Among yesterday’s revelations was that Nazarian had fathered a child out of wedlock, which might explain help explain why Continued >>

Icahn saves Taj, kinda sorta

By David McKee ~ December 18th, 2014 @ 2:42 pm 1 Comment »

Trump Taj Mahal‘s fate seesaws by the day, if not the hour. According to the New York Post, Unite-Here Local 54 “got pretty much what it wanted” from Carl Icahn and “all work rules” will be reinstated. Icahn did persuade Local 54’s Robert McDevitt to put pension payments icahninto a Taj-only fund, the one significant concession made by the union, other than the abandonment of its bankruptcy-court appeal. Gov. Chris Christie (R) and his gaming-industry liaison, Jon Hanson, were credited with bringing all parties together. According to the union, Trump Entertainment Resorts CEO Robert Griffin put his signature on the pact … and then Icahn got cold feet.

The mogul promises this won’t be the Taj’s doom. He’s ponied up $20 million, writing, “Even though I believe that Atlantic City will be great again someday, many people would still argue that it would be a better financial decision for me to let the Taj close. But I cannot be so callous as to let 3,000 hardworking people lose their jobs.” McDevitt’s reaction was, “We and everybody else thought we could start Continued >>

Many called, few chosen for New York casinos

By David McKee ~ December 18th, 2014 @ 12:31 pm No Comments »

Count mega-budget offerings from Genting Group and Caesars Entertainment among the marquee-name dismissals in the New York Gaming Facility Location Board‘s final HRH Albanycut of casino applicants. Also going into the circular file were a second Genting project (Resorts World Hudson Valley), along with a Penn National Gaming/Cordish Gaming joint venture, and proposals from Full House Resorts, Churchill Downs, Mohegan Sun and a Hard Rock-branded project (right). It was a bad day from brand names, who generally got swept from the board. Considering Mohegan Sun CEO Mitchell Etess‘ family’s decades-long connection to the Catskills, that rejection must have been especially painful.

Orange County went 0-for-six, as Continued >>

Further Reading

Blast from the past

Nazarian’s luck, Caesars’ hoard

Icahn saves Taj, kinda sorta

Many called, few chosen for New York casinos

Quote of the Day

Vegas hits the jackpot & other Case Bets

Taj at Icahn’s mercy; The wrath of Wynn

Sayonara, Sam; Showstopping Steve

Atlantic City: Fertitta wins, Taj too close to call

Quote of the Day

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