Category Archives: Rhode Island

It’s lonely in Massachusetts; A dose of realism

Posted on December 16, 2020 by David McKee

Massachusetts gamblers are night owls. When Gov. Charlie Baker (R) ordered casinos to close at 9:30 p.m. it took a big bite out of November revenues, particularly Encore Boston Harbor, which makes half its revenue after dark. At least you … Continue reading →

Posted in Bally, Charity, Culinary Union, Derek Stevens, Downtown, Economy, El Cortez, Entertainment, Florida, Genting, Health, history, Massachusetts, MGM Resorts International, New York, Penn National, Rhode Island, Sports, Sports betting, The Strip, Wall Street, Wynn Resorts | 2 Comments

Upbeat at Churchill Downs

Posted on June 18, 2020 by David McKee

JP Morgan analysts met virtually with Churchill Downs brass, including CEO Bill Carstanjen. The news was good to great. First things first, the Kentucky Derby is expected to be run with spectators (CHDN execs are keeping an eye on what … Continue reading →

Posted in Atlantic City, Churchill Downs, Dan Lee, Delaware, Dining, e-sports, Full House Resorts, Horseracing, Illinois, Kentucky, Macau, Maine, MGM Resorts International, Mississippi, Pennsylvania, Politics, Regulation, Rhode Island, Sports, Sports betting, Steven Witkoff, Taxes, The Strip, Twin River, Wall Street | 1 Comment

California Lege mulls sports betting; Mega-Jottings

Posted on June 1, 2020 by David McKee

Gaming analysts may be getting a little ahead of themselves but they’re estimating that California could generate $30 billion a year in sports-betting handle, $2 billion in revenue and $300 million in taxes. That’d be pretty good news for a … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, California, Downtown, Economy, Eldorado Resorts, International, Lotteries, New Jersey, Politics, Regulation, Rhode Island, Sports betting, Station Casinos, Taxes, The Strip, Tourism, Tribal, Twin River | 2 Comments

Wynn sitting pretty; Trump Plaza damned, doomed

Posted on April 8, 2020 by David McKee

Wynn Resorts can sit out a Coronavirus crisis lasting 1.4 years. That’s how much cash ($3 billion) it’s sitting upon. First-quarter revenues took a 43% hit and are expected to come in somewhere in the $912 million-$969 million range. The … Continue reading →

Posted in Atlantic City, Australia, Carl Icahn, Genting, Health, James Packer, Las Vegas Sands, Macau, Massachusetts, Politics, Regulation, Rhode Island, Singapore, Tribal, Twin River, Wall Street, Wynn Resorts | 1 Comment

Gaming stocks immune to rally; Casinos get serious about coronavirus

Posted on March 11, 2020 by David McKee

Gaming stocks by and large didn’t feel the love on Wall Street yesterday, trending slightly downward, not counting 9% rallies for Station Casinos and Melco Resorts & Entertainment (the latter the only Macao operator to bounce back). The market recouped … Continue reading →

Posted in AGA, Alex Meruelo, Atlantic City, Boyd Gaming, Caesars Entertainment, Cosmopolitan, Current, Detroit, Dining, Donald Trump, Economy, Eldorado Resorts, Florida, Health, Lake Tahoe, Las Vegas Sands, Macau, Maryland, Massachusetts, Maverick Gaming, Melco Resorts & Entertainment, MGM Resorts International, Michigan, Penn National, Phil Ruffin, Reno, Rhode Island, Sahara, South Dakota, Sports betting, Station Casinos, Taxes, The Strip, Tilman Fertitta, Tourism, Transportation, Vermont, Wall Street, Washington State, Wynn Resorts | Comments Off on Gaming stocks immune to rally; Casinos get serious about coronavirus

Emergency in Rhode Island; Kaos by any other name

Posted on March 10, 2020 by David McKee

Twin River Holdings just got some bad news. Rhode Island Gov. Gina Raimondo (D) proclaimed a state of emergency, after four citizens contracted coronavirus. “This is real. This is here. We expect more cases,” said Raimondo. While governments in the … Continue reading →

Posted in Current, Dining, Entertainment, Health, International, Palms, Regulation, Rhode Island, Station Casinos, Tilman Fertitta, Twin River, Wall Street, Wynn Resorts | Comments Off on Emergency in Rhode Island; Kaos by any other name

Butler rips Lamont; Tribe supplicates Trump

Posted on March 9, 2020 by David McKee

Sports betting could die in Connecticut, thanks to a stalemate between Gov. Ned Lamont (D, pictured) and the state’s gaming tribes. Speaking for the latter, Mashantucket Pequot Chairman Rodney Butler accused the governor of a “take-it-or-leave-it” negotiating stance. Butler and … Continue reading →

Posted in Caesars Entertainment, Churchill Downs, Connecticut, Donald Trump, DraftKings, FanDuel, Foxwoods, Genting, IGT, Illinois, International, Kentucky, Konami, Las Vegas Sands, Law enforcement, Lotteries, Louisiana, Massachusetts, MGM Resorts International, New York, Politics, Rhode Island, Sports betting, Technology, Tribal, Wynn Resorts | 2 Comments

Bank rides to Churchill Downs’ rescue; Las Vegas healthy

Posted on March 2, 2020 by David McKee

Last week Churchill Downs posted perfectly good 4Q19 numbers but Wall Street wasn’t buying it. CHDN shares slumped 14%. That prompted some weekend damage control from JP Morgan, which bumped its rating up from “neutral” to “overweight,” and sent analyst … Continue reading →

Posted in Caesars Entertainment, China, Conventions, Donald Trump, Economy, Eldorado Resorts, Health, history, Horseracing, Illinois, Indiana, International, Kentucky, Marketing, Problem gambling, Regulation, Rhode Island, Slot routes, Sports, Sports betting, The Strip, Tourism, Transportation, Tribal, Wall Street, Washington State, William Hill, Wynn Resorts | Comments Off on Bank rides to Churchill Downs’ rescue; Las Vegas healthy

IGT, Twin River cut a deal; Atlantic City casino execs get riled

Posted on February 3, 2020 by David McKee

In what is either a grand compromise or the cynical conclusion to months of backbiting, International Game Technology and Twin River Holdings have patched up their differences, and formed a joint venture to run the Rhode Island state lottery. (The … Continue reading →

Posted in Atlantic City, Caesars Entertainment, China, DFS, Donald Trump, e-sports, Eldorado Resorts, Hard Rock International, IGT, Japan, Kentucky, Las Vegas Sands, Law enforcement, Lotteries, Melco Resorts & Entertainment, MGM Resorts International, Morris Bailey, Rhode Island, Sports betting, Twin River, Wynn Resorts | 3 Comments

Santa kind to the Strip; Oklahoma compact mess explained

Posted on January 30, 2020 by David McKee

Gambling revenues on the Las Vegas Strip rose 4.5% last month, even as locals casinos vaulted 13.5% and the state as a whole was up 6%. Strip casinos grossed $592 million, despite a 27% tumble in baccarat winnings on 29.5% less … Continue reading →

Posted in Boulder Strip, Downtown, IGT, Lake Tahoe, Laughlin, Lotteries, North Las Vegas, Oklahoma, Racinos, Reno, Rhode Island, The Strip, Tribal, Twin River | Comments Off on Santa kind to the Strip; Oklahoma compact mess explained

Penn pulls up a Barstool; Fear and trembling in Macao

Posted on January 29, 2020 by David McKee

As expected, Penn National Gaming bought a significant position in Barstool Sports, investing $135 million cash, $28 million PENN shares, and getting 36% of the two board seats and 36% of the company. The remainder is split between Chernin Group … Continue reading →

Posted in China, Derek Stevens, Dining, Donald Trump, Economy, Macau, Movies, Nevada, Penn National, Problem gambling, Reno, Rhode Island, Sports betting, Technology, Wall Street | Comments Off on Penn pulls up a Barstool; Fear and trembling in Macao

Quote of the Day

Posted on December 23, 2019 by David McKee

“If we have an education problem in this state, why would we legalize marijuana?”—Rhode Island Senate President Dominick J. Ruggerio (D), whose state’s school system has been under a microscope and not in a good way. We’re taking a brief … Continue reading →

Posted in Marijuana, Rhode Island | Comments Off on Quote of the Day

Twin River has scandal of its own; Musical chairs in Oklahoma

Posted on December 19, 2019 by David McKee

Twin River Casino can forget about prying the Rhode Island Lottery contract away from International Game Technology. Twin River exec Michael Barlow and a vendor have been hit with a staggering 30 counts of bribery, obtaining property under false pretenses and … Continue reading →

Posted in Economy, IGT, Las Vegas Sands, Law enforcement, Macau, Oklahoma, Rhode Island, Sociedade de Jogos de Macau, Tribal, Twin River, Wall Street, Wynn Resorts | Comments Off on Twin River has scandal of its own; Musical chairs in Oklahoma

Choo-choo to Springfield; Penn hawks Trop

Posted on November 12, 2019 by David McKee

Don’t despair, MGM Springfield. There’s hope yet. Massachusetts politicians are touting the idea of high-speed rail between Boston and Springfield, as many as six rides per day. (Springfield currently must get by with once-a-day Amtrak service.) Gov. Charlie Baker (R) … Continue reading →

Posted in China, Connecticut, Donald Trump, Downtown, Election, Foxwoods, Indiana, Louisiana, Maine, Massachusetts, MGM Resorts International, Mohegan Sun, New Hampshire, Penn National, Pennsylvania, Rhode Island, Sexual misconduct, Sheldon Adelson, Sports betting, The Strip, Transportation, TV, Twin River, Wynn Resorts | Comments Off on Choo-choo to Springfield; Penn hawks Trop

Rhode Island lottery scandal worsens

Posted on November 1, 2019 by David McKee

That casino scandal in Rhode Island continues to deepen. Gov. Gina Raimondo‘s chief of staff, Brett Smiley, is accused of making threats against Twin River Casino. When the governor pitched a no-bid, sweetheart lottery contract for International Game Technology, Smiley … Continue reading →

Posted in IGT, Lotteries, Politics, Rhode Island, Twin River, Wynn Resorts | Comments Off on Rhode Island lottery scandal worsens

Scientific rebuffed in R.I.; Golden, Boyd deliver

Posted on October 23, 2019 by David McKee

Rhode Island Gov. Gina Raimondo (D) doubled down on her commitment to International Game Technology to run the state’s lottery by rebuffing an offer from Scientific Games, in tandem with Twin River Casinos. The Scientific proposal promised 1,100 jobs or … Continue reading →

Posted in Boyd Gaming, Conventions, Downtown, Environment, Golden Gaming, Hawaii, IGT, Lotteries, North Las Vegas, Palms, Rhode Island, Scientific Games, Sports, The Strip, Wall Street | Comments Off on Scientific rebuffed in R.I.; Golden, Boyd deliver

IGT at center of Rhode Island scandal; #MeToo spreads

Posted on October 1, 2019 by David McKee

Gina Raimondo (D) may be friends with Michelle Obama but that’s not going to get out of the International Game Technology lottery scandal. Gov. Raimondo was at the state capital a week ago to defend her controversial decision, a move … Continue reading →

Posted in IGT, Internet gambling, Las Vegas Sands, Law enforcement, Lotteries, Money laundering, Philippines, Politics, Regulation, Rhode Island, Sexual misconduct | Comments Off on IGT at center of Rhode Island scandal; #MeToo spreads

Case Bets

Posted on September 12, 2019 by David McKee

Unlike people across the Pearl River Delta in Hong Kong, casino workers in Macao are relatively easy to please. Their latest set of demands will sound very familiar to Americans: a five-day work week, vacation schedules and a smoke-free environment (we’re … Continue reading →

Posted in DFS, Indiana, Las Vegas Sands, Macau, Melco Resorts & Entertainment, MGM Resorts International, Michigan, Rhode Island, Sports betting, Tribal, Wynn Resorts | Comments Off on Case Bets

Honeymoon over in Massachusetts; Drive like Elvis

Posted on September 3, 2019 by David McKee

Encore Boston Harbor has been open only two months. MGM Springfield just passed its one-year anniversary. And yet, the Boston Globe is already tossing around the ‘S’ word—saturation. Saying that casino executives might not like hearing it, the paper rejoined, … Continue reading →

Posted in AGA, Arizona, Caesars Entertainment, California, Economy, Entertainment, history, Massachusetts, MGM Resorts International, Mississippi, Penn National, Rhode Island, Transportation, Wynn Resorts | Comments Off on Honeymoon over in Massachusetts; Drive like Elvis

Sports betting vexed in Massachusetts; Start spreading the news, they’re leaving today—and how!

Posted on August 30, 2019 by David McKee

Don’t expect sports betting in Massachusetts: Not now, maybe never. Why? Two words: Rhode Island. That state counted on $23 million in tax revenue from sports wagers—a ludicrous figure—and got $2 million. Bay State lawmakers are not only sobered by the … Continue reading →

Posted in Arizona, Connecticut, Economy, Environment, Florida, Las Vegas Raiders, Massachusetts, MGM Resorts International, Nevada, New York, Politics, Problem gambling, Rhode Island, Sports, Sports betting | Comments Off on Sports betting vexed in Massachusetts; Start spreading the news, they’re leaving today—and how!