Elaine Wynn has left the building

By David McKee ~ April 24th, 2015 @ 12:02 pm No Comments »

Votes are still being audited but the bottom line from Wynn Resorts‘ board election is this: Elaine Wynn is out and the company’s two preferred candidates have been reelected. “The manner in which the existing board has handled the company’s third-largest shareholder and fellow board member, Elaine P. Wynn, the resulting proxy contest, all too public dispute and the continuing multiyear decline in the company’s stock price, compel us to support the dissident,” Egan-Jones Proxy Services advised in vain.

Ms. Wynn’s lawsuit to sever control of her shares from Continued >>

Caesars and Gilbert, separate but together

By David McKee ~ April 24th, 2015 @ 10:53 am No Comments »

Dan Gilbert‘s ThistleDown Racino has been losing business to Hard Rock Rocksino, so Gilbert is pushing back with $70 million in upgrades. “Our initial investment in ThistleDown thistledownhas been a tremendous success and now we’re ready to introduce a new level of entertainment and dining options to this area,” said General Manager Rick Skinner, putting an upbeat spin on the move. The racino’s only been open two years, so the flurry of changes comes as a bit of a surprise.

The myriad improvements will include Continued >>

Shame on Arizona; Big plans for Gold Strike

By David McKee ~ April 24th, 2015 @ 10:02 am No Comments »

With Gov. Doug Ducey opposed, along with a state gaming agency that refuses to OK its casino, the Tohono O’odham Nation has to decide whether to insist upon a December opening or bow to the state’s objections. Despite having lost time and again in federal courts, Arizona state officials maintain that the Tohono O’odham committed “fraud and misrepresentation” to place a casino within a county island adjacent to Glendale. The tribe has allies in Glendale city council, which is counting on revenue sharing to shore up its sagging finances. “Please get out of the way and let us Continued >>

Tribal tensions in Indiana; Mississippi tapped out?

By David McKee ~ April 23rd, 2015 @ 11:45 am No Comments »

Indiana legislators are making it more difficult for the Pokagon Band of Potawatomi Indians to reach a compact with Gov. Mike Pence (R), according to the tribe, which charges lawmakers with meddling in the compacting process. The Pokagon Band, which owns several casinos in Michigan, wants to extend its reach into South Bend, where it would build a tribal village, complete with casino. Lawmakers are mulling a bill that would put an extensive regulatory framework into place. This inspired Chairman John P. Warren to declare, “A lot of that language in there is a violation of IGRA, that’s the Indian Gaming Regulatory Act. The management, the infrastructure. This legislation is actually inhibiting the governor from negotiating in good faith even before negotiations have begun.”

The tribe took umbrage at Continued >>

Further Reading

Elaine Wynn has left the building

Caesars and Gilbert, separate but together

Shame on Arizona; Big plans for Gold Strike

Tribal tensions in Indiana; Mississippi tapped out?

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