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Global Summary of Business Development and Strategy in the Gaming Industry

  • The Supreme Court Pulled Out the Cork and the Genie Is Loose
    On Monday, May 14th, the United States Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA) of 1992.  The law prohibited sports betting except as conducted by the lottery in Oregon, Delaware, Montana and in casinos in Nevada.  New Jersey had sued, claiming the law violated the... Read more »
  • Atlantic City Pushes the Restart Button
    On May 26th, Resorts, the first casino in Atlantic City, will celebrate its 40th anniversary.  As if to celebrate that event, two new casinos are scheduled to open on June 26th.  Actually they are not new casinos, rather reincarnations of failed casino-resorts. Hard Rock is replacing the Trump Taj Mahal,... Read more »
  • Macau is becoming a Rest Stop on the Great Silk Road
    It is earnings season again and the casino reports from Macau are good.  Wynn, Sands, MGM, SJM and Melco all reported double digit increases in revenues and profits for the first quarter. The total gaming win for the city was up 20.5 percent to $9.6 billion for the quarter; April... Read more »
  • Caesars in Dubai: A Camel’s Nose under the Tent?
    Eldorado Resorts, Boyd and Penn National are extending their footprints across the nation at every new opportunity.  But for the next tier up, the mega-casino companies, Caesars, Wynn, Sands and MGM there are not enough of those opportunities to be found within the national borders.  They are scouring the globe... Read more »
  • Eldorado Resorts is on the Move Again
    In one day in April, Eldorado Resorts Inc added eight casinos to its portfolio; seven came from buying Carl Icahn’s Tropicana Company and the other, a casino in Illinois purchased from Caesars. Those purchases are the latest move in the company’s dramatic expansion that began in 2005, when it bought... Read more »
  • Niagara Falls Closes the Door after the Horses Escaped
    In these days of political polarization, very few voters trust any government official.  Actually it is a long-term trend; Forbes has been doing a poll for 16 years on the most and least trusted professions in the country.  Nurses, military officers, grade school teachers and medical doctors are at the... Read more »
  • The Casino Quandary of Andrew Cuomo
    Resorts World Catskills, New York’s fourth commercial casino opened on February 9, 2018.   It cost $1.2 billion to build and has 2100 slot machines, one hundred and thirty table games and one hundred hotel rooms.  New York is a rather crowded gambling market place; success and profit will not come... Read more »
  • Bang! Wynn and Packer Just Got Their Equilibrium Punctuated
    March had some shocking moments for the gaming industry. In separate events two industry giants suddenly walked off, if not into the sunset, at least into the clubhouse.  Both were evolutionary moments; in the blink of an eye, the gaming industry evolved. There are two dominant theories in evolution; one... Read more »
  • Sands Bethlehem Announces Sale for the Second Time
    Las Vegas Sands sold its property in Pennsylvania to an Indian tribe from Alabama.  On the surface the story is pretty straightforward, but it does have some interesting twists and turns.  The Poarch Band of Creek Indians through its affiliate, Wind Creek Hospitality, has agreed to buy Sands Bethlehem for... Read more »
  • Japan Moves into the Casino Business
    Japan is embarking on a casino adventure and it is carving its own unique path.  In December, the Japanese Diet passed initial enabling legislation.  The law as it stands is too vague and could not be implemented without more structure. It needs the where, when, how many, how much and... Read more »

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