Category Archives: Economy

The case for cannibalization; Hard Rock buys Taj

There’s still a big budget shortfall in Pennsylvania and state Rep. Mike Sturla thinks he has at least part of the answer: slot routes. Casinos can be expected to decry this proposed solution and some already are. But for Sturla … Continue reading

Posted in Atlantic City, Carl Icahn, Economy, Foxwoods, Geoff Freeman, Golden Gaming, Hard Rock International, Harry Reid, Illinois, MGM Mirage, Mohegan Sun, Penn National, Pennsylvania, Politics, Revel, Slot routes, Sports, The Strip, Tribal, Tropicana Entertainment, West Virginia | Leave a comment

Wayne Newton, Mr. Convention; Adelson covets Vietnam

If you doubted that the convention business is the new face of Las Vegas, it trotted out the pretty visage of Wayne Newton. The latter’s Casa de Shenandoah is promoting itself as the new place to hold your meeting, offering to … Continue reading

Posted in Atlantic City, Economy, GLPI, Hard Rock International, Harrah's, Illinois, Japan, Lawrence Ho, Macau, Marketing, Melco Crown Entertainment, Penn National, Politics, Racinos, Regulation, Sheldon Adelson, Singapore, South Korea, Technology, Tourism, Tropicana Entertainment, Vietnam, Wayne F. Newton | Leave a comment

Wynn shows Adelson up; Schenectady casino opens tonight

Contrary to crude insinuations by the Las Vegas Review-Journal, Steve Wynn‘s gift of $7 million in company stock late last year went mainly toward medical research at the University of Iowa’s Wynn Institute for Vision Research ($5 million), while another $1.7 … Continue reading

Posted in Animals, Charity, Economy, Harrah's, Iowa, Maine, Marketing, Neil Bluhm, New York, Sheldon Adelson, Sports, Steve Wynn, Technology, The Strip, Tribal | 1 Comment

Quote of the Day

“It is very hard to open a casino that doesn’t have another casino within 100 miles, so the pie is really being divided up. The bottom line is going to be in three, four, five years when the rest of … Continue reading

Posted in Atlantic City, Economy, New York | Leave a comment

Next stop, Terre Haute

Now that ex-Gov. Mike Pence (R) has moved on to bigger and better things, casino expansion is back on the table in Indiana. The question seems to be more one of “where” than “if.” Lawmakers are warming to Dan Lee‘s … Continue reading

Posted in Dan Lee, Economy, Full House Resorts, Illinois, Indiana, International, Isle of Capri, Macau, Melco Crown Entertainment, New Hampshire, Pennsylvania, Philippines, Politics, Racinos, Slot routes, Taxes, Tribal | Leave a comment

Wynn-Adelson feud renewed; Caesars readies wrecking ball

Until recently, Sheldon Adelson was the face of Republican Party fundraising. But the GOP’s new fair-haired boy is a certain Steve Wynn and Adelson doesn’t appear to be taking it lying down. His Las Vegas Review-Journal, showed uncharacteristic investigative moxie … Continue reading

Posted in Charity, Donald Trump, Downtown, Economy, Election, Harrah's, Macau, Marketing, Sheldon Adelson, Steve Wynn | 2 Comments

Quote of the Day

“Nevada gambling revenue has stayed relatively flat since 2009. It hasn’t rebounded to pre-recession levels of a decade ago.” — The Associated Press, still not getting the memo that the go-go days of 2007 are gone — and they’re not … Continue reading

Posted in Economy, history, Nevada | Leave a comment

Adelson out of stadium deal; Tepid December on Strip

It didn’t take long for Sandoval’s Folly, the mooted [your city here] Raiders stadium to blow up in the governor’s face. With characteristic irascibility, Las Vegas Sands CEO Sheldon Adelson withdrew from the project, taking his $650 million with him. … Continue reading

Posted in Boulder Strip, Cordish Co., Cretins, Downtown, Economy, Foxwoods, GLPI, Harrah's, Horseracing, Japan, Laughlin, Maryland, MGM Mirage, Mohegan Sun, Nevada, North Las Vegas, Penn National, Politics, Regulation, Reno, Sheldon Adelson, Sports, The Strip, Tribal, Virginia, Wall Street, West Virginia | Leave a comment

Wynn Palace a work in progress; Hawaii ponders i-gaming

Wall Street analysts were pleasantly surprised by the latest results from Wynn Palace, which exceeded expectations. As JP Morgan analyst Joseph Greff wrote, the Palace “has reconfigured the main casino floor (mass market), adding new slot/poker sections and opening up … Continue reading

Posted in Delaware, Economy, Hawaii, Internet gambling, Macau, Massachusetts, Neil Bluhm, Nevada, Penn National, Pennsylvania, Regulation, Sheldon Adelson, Steve Wynn, Technology, The Strip, Wall Street | Leave a comment

Maryland: Playing the blame game; Island casinos confront Trump

As might be expected, MGM National Harbor‘s opening strapped a jet pack on Maryland casino revenues for December, which came in at $133.5 million, easily surpassing last May’s then-record $104 million. Wagering — as opposed to win — per slot … Continue reading

Posted in Cordish Co., Donald Trump, Economy, Harrah's, Horseracing, Illinois, International, Internet gambling, Macau, Maine, Maryland, MGM Mirage, Penn National, Racinos, Regulation, Slot routes, Taxes, Tribal | Leave a comment

Ideas plentiful, funding scarce

Maybe the third try will be the charm. Australian entrepreneur Josh Kearney has announced an $800 million, extreme-sports-themed resort, to arise just northeast of Town Square Mall (built on the grave of the troubled Vacation Village Casino). The Edge, as … Continue reading

Posted in Australia, Economy, history, International, James Packer, Law enforcement, Lucky Dragon, Macau, Steve Wynn, The Crown 18, The Strip, Tribal, Wall Street, Wisconsin | Leave a comment

Plainridge Park defies the odds; Gaming advocate’s conflict unearthed

States with lotteries are loath to let casinos in their borders. It’s an idea that’s D.O.A. in Nevada and Kansas protected its flank by making the casinos the property of the state lottery. However, a study by the Massachusetts Gaming … Continue reading

Posted in Economy, Florida, Geoff Freeman, Hard Rock International, Internet gambling, Kansas, Massachusetts, Neil Bluhm, Nevada, Penn National, Pennsylvania, Politics, Regulation, Seminole Tribe | Leave a comment

Trump: The Fix is In; Battle of Gettysburg III

Gaming executives who are buddies with Donald Trump just got a rude surprise when attorney general nominee Sen. Jeff Sessions (R) said he was “shocked” by the 2011 reinterpretation of the Wire Act, whereby Internet gaming became legal. This sets … Continue reading

Posted in Atlantic City, Donald Trump, Economy, Harrah's, history, Horseracing, Internet gambling, Maryland, Pennsylvania, Problem gambling, Sheldon Adelson, Taxes | Leave a comment

Warm December in Atlantic City; Las Vegas stages comeback

Online gambling continues to be a hit with New Jersey players, up 31% to $18 million in December. Resorts Digital‘s market share has eked past Tropicana Entertainment‘s but Golden Nugget is far and away the leader, with 26%. Enjoy it … Continue reading

Posted in Architecture, Atlantic City, Dan Gilbert, Detroit, Economy, Glenn Straub, Harrah's, Internet gambling, MGM Mirage, Mohegan Sun, Pinnacle Entertainment, Politics, Revel, The Strip, Tourism, Tropicana Entertainment, Wall Street | Leave a comment

Trump vs. Las Vegas; E-sports is big busine$$

“Donald Trump is the most uninformed president the U.S. has ever had.  This is not an opinion.  It is based on the realities of how human beings communicate:  He does not read.  ‘[Trump] said in a series of interviews that he does not … Continue reading

Posted in Affinity Gaming, Atlantic City, Donald Trump, Downtown, Economy, Entertainment, Harrah's, International, Internet gambling, Macau, Marketing, MGM Mirage, Mississippi, Regulation, Sheldon Adelson, Sports, Steve Wynn, The Strip, Tourism, Tropicana Entertainment, Wall Street | Leave a comment

Jesus scapegoated for December results; Changing of the guard in New Jersey

Deutsche Bank analyst Carlo Santarelli put in some quality time in Las Vegas recently and came away satisfied with the market, particularly MGM Resorts International, Station Casinos, Boyd Gaming and Penn National Gaming, although he had no new intel on … Continue reading

Posted in Atlantic City, Boyd Gaming, California, Economy, Foxwoods, Georgia, Horseracing, Internet gambling, Lucky Dragon, MGM Mirage, Mohegan Sun, Penn National, Politics, Station Casinos, Tribal, Wall Street | Leave a comment

A slight chill in the air

Even allowing for additional weekend in 2016, gaming results last month were a tad frosty,  shall we say? The best market was Missouri, which was merely flat. That was largely due to strength in the St. Louis area, where Pinnacle … Continue reading

Posted in Affinity Gaming, Ameristar, Boyd Gaming, Economy, Eldorado Resorts, Full House Resorts, GLPI, Harrah's, Indiana, Isle of Capri, Majestic Star, Missouri, Nevada, Ohio, Penn National, Pinnacle Entertainment, Racinos, Tourism, Tropicana Entertainment | Leave a comment

2017: Boom or bust?

Vital Vegas, whose predictive skills are superior to ours, recently came out with a blockbuster, forecasting that Las Vegas Sands or MGM Resorts International or Wynn Resorts (or maybe some combination of the above) might be headed into bankruptcy. “Tectonic … Continue reading

Posted in Atlantic City, Detroit, Economy, Harrah's, Japan, Macau, MGM Mirage, Regulation, Sheldon Adelson, Steve Wynn, Wall Street | 1 Comment

Macao: Cautious recovery predicted; Straub sets Revel reopening

“Does the fact that Macao has an Eiffel Tower now bring extra people to the market,” asked Union Gaming Group analyst Grant Govertsen rhetorically. “Yes, but their main activity here will still be gaming.” “They” includes players from as far … Continue reading

Posted in Atlantic City, CityCenter, Dining, Economy, G2E, Glenn Straub, Internet gambling, Japan, Lawrence Ho, Macau, Revel, Sheldon Adelson, The Strip, Tourism, Transportation, Wall Street | 1 Comment

A legend passes; Packer flops in Vegas (again)

Before we get back to business, a few brief mentions. First, let us have a moment of silence for Strip icon and former Las Vegas casino owner Debbie Reynolds, victim of a fatal stroke.  Coming as it did a day … Continue reading

Posted in Boulder Strip, Downtown, Economy, Entertainment, Harrah's, history, James Packer, Lake Tahoe, Laughlin, Melco Crown Entertainment, North Las Vegas, Reno, The Strip, Uncategorized, Wall Street | 2 Comments