Reading David McKee’s post on the TI sale to Phil Ruffin, something clicked that made me realize the transaction made perfect sense. For a while now, MGM Mirage has been positioning itself as a casino builder and hospitality brand manager. The international moves are ample evidence of that, as are the City Center partnership with […]
Big news from the LVRJ this morning. Treasure Island is about to be sold: Former New Frontier owner Phil Ruffin is buying the Treasure Island from MGM Mirage for $775 million, sources confirmed Sunday night. The deal is expected to be announced today. Ruffin, a Wichita, Kan., businessman, sold the New Frontier in May 2007
After what seems like months, I see that I’ve got another Business Press article available online: Once, casinos threw huge parties to remind the community that they were a year older. Large cakes in the shape of the hotel were common, with showgirls gamely framing the desert in well-circulated publicity photographs. Casinos bought advertisements that
Today’s Sun has an interesting piece about how different corporate cultures work on the Strip: As it turns out, the industry’s giants, MGM Mirage and Harrah’s Entertainment, have evolved into different animals at the top of their respective food chains. Customers will be familiar with some of these differences. While most MGM Mirage resorts are
Diff’rent strokes for casino folks Read More »
news about gamblingWe’ve all heard the doom and gloom about casino stocks. I’m not sure I get all the fuss. Either they’ll be going up or they’ll be going down. It’s a 50/50 prop, right? So we shouldn’t be surprised when they decline in value for a while. Small comfort, I’m sure, to those who’ve substantially invested
An uncertain future Read More »
news about gamblingLike me, you’ve probably got town hall fatigue from this grueling election season. But here is a town hall-type meeting you might want to attend: A panel discussion on the ins and outs of the gambling industry will be held October 14, from 10 a.m. to noon, at UNLVs Paradise Campus. Admission is free. Mark
State of the state of gambling Read More »
news about gamblingIf you haven’t heard it, here’s the press release, more or less verbatim: MGM Mirage is naming the big casino resort at its in-development City Center project on the Strip the “Aria Resort and Casino.” I don’t have an inside line on the creative process that led to the choice, but from what I’ve read
Christina Binkley. Winner Takes All: Steve Wynn, Kirk Kerkorian, Gary Loveman, and the Race to Own Las Vegas. New York: Hyperion, 2008. 304 pages, hardcover. Over the last decade, the Las Vegas Strip has become increasingly consolidated. Once, there were a host of casino owners: Aztar, Bally Gaming, Boyd Gaming, Circus Circus Enterprises, Grand Casinos
Book Review: Winner Takes All Read More »
book reviews, life in vegasThe Tropicana’s woes might be the Luxor’s gain. The pyramid on the Strip is picking up two exhibits that as Columbia Sussex’s flagship is taking on water (allegedly). From the LVRJ: Luxor is picking up two nongaming attractions from the Tropicana. Atlanta-based Premier Exhibitions announced Tuesday it signed a 10-year agreement with the Luxor to
Luxor getting darker? Read More »
news about gamblingI’ve been getting a number of questions about MGM Mirage’s plans to build a mega-project next to the Borgata. If you are interested in my opinion, you might want to check out this piece in the LV Business Press: But MGM Mirage’s plan to build a CityCenter East next to the Borgata makes it clear
Interesting summary of the current state of Macau from Fortune, via CNN: Hunter S. Thompson would have found much to fear and loathe in Macau, the former Portuguese colony rebranding itself as a gambling paradise. The good doctor (rest his soul) would have been vexed to discover that Macau, surrounded by water and crowded immigration
There’s a nice interview in the LV Sun with Gamal Aziz of MGM Mirage: The latest annual report for MGM Mirage forgoes descriptions of casino floors in favor of haute cuisine, stage performances and museum pieces. And lest there be any remaining doubt about a new direction of the company, “Transformation” is printed boldly on
Non-gaming at MGM Mirage Read More »
news about gamblingI’m sure when most people heard that a bomb went off in the Luxor’s parking garage at 4 this morning, they at least considered the possibility that it might have been a terrorist scheme gone awry. But apparently it was “just” a “homicide with an unusual weapon.” From Breitbart: A device left in a casino
Luxor explosion not terrorism, cops say Read More »
life in vegasIt earns more in gaming revenue than the Strip, at least. It was either this or a post on Stanley Ho’s medical issues, and I honestly can’t think of anyway to properly blog on that one. From news.com.au: MACAU says it has overtaken the Las Vegas Strip as the world’s biggest casino draw, raking in
Macau confirms: it’s bigger than Vegas Read More »
news about gamblingOn Saturday, I’m flying to Macau to speak at the Gaming Industry and Public Welfare International Conference. If I go back next year, I might be able to say that I’m going to the world’s leading gaming destination.