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Just got back from Vegas, Vegas is down 35-50%

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Captain
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Posted: #1
I just got back from Vegas and I stayed at the Bellgio!!!  The city is down, occuapancy is down, the restaurants aren't as busy, the night clubs aren't as busy, and all the waiter's are complaning...........WOW!!!   The owner's of City City and the MGM must be feaking out!!!!  When they started the project 3.5 years ago, it looked like a great idea, but now!!!  
The economy is killing Vegas right now, everyone's ass is tight and is staying home!!!
Should be a lot of deals on hotels and everything else for anyone that is thinking about going out there!!!
 
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Posted: #2
People are losing money in their 401k, why would they want to go to Vegas and give away hard earned money to casinos who just fuck them over all the time. Casinos should start making more user friendly games than the jimmy rigged tables they already have.
 
Prospect
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Posted: #3
Quote Originally Posted by golfinfool:

People are losing money in their 401k, why would they want to go to Vegas and give away hard earned money to casinos who just fuck them over all the time. Casinos should start making more user friendly games than the jimmy rigged tables they already have.


There are several games where the casino has a very very low house edge if you know what your doing.
 
Legend
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Posted: #4
Great.  Heading out there this weekend with my brother.  Hope it isn't too lame
 
Captain
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Posted: #5
Jeff,
  U will still have a good time.  It is just less people out there right now!!!!!
 
 
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Posted: #6
Quote Originally Posted by THAT1Wiseguy:



There are several games where the casino has a very very low house edge if you know what your doing.


What games might those include black and red roulette or I declare war? I really would like to know games better than 50%.
 
Prospect
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Posted: #7

Quote Originally Posted by golfinfool:



What games might those include black and red roulette or I declare war? I really would like to know games better than 50%.

 
0.60%
0.80%
1.17%
1.63%
2.5%
2.7%
3.4%
3.5%
4.5%
5.26%
5.6%
11.1% to 24%

25%

Maybe you should educate yourself before you pop off about "jimmy rigged tables".  Better yet, stick to your local state lottery...that's closer to a 50% hold.  Sounds like your cup of tea.

 

 
Legend
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Posted: #8
Quote Originally Posted by JEFFMARKETCAP:

Great.  Heading out there this weekend with my brother.  Hope it isn't too lame


It's probably better now.  You'll get more first-class attention and your dollar will go farther.

But man, Vegas is built on volume.  Fixed costs are huge.  They can weather this storm for a bit but if this goes on for years it's gonna be a real problem.
 
Prospect
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Posted: #9

 

Craps (double odds)    0.60%

BJ                               0.80%

Baccarat (banker)        1.17

Baccarat (player)         1.63

Pai Gow Poker            2.50

Roulette (single zero)    2.70

3 card poker                3.40

Let it ride                     3.50

Sportsbook                 4.50

Carib stud poker         5.26

Roulette (double zero) 5.60

Big 6 wheel               11.1-24

Keno                        25.00
 
Prospect
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Posted: #10
Thing, thanks for posting. I never did understand why some people think gambling is impossible to beat and better yet that the casino wants you to lose.
 
Captain
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Posted: #11
I meant to say City Center owned by the MGM, that project is in trouble!!!!
 
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Posted: #12
I just got back from Vegas as well... I stayed at the Wynn (was given 2 free nights for attending a conference) The restaurants at the Wynn were all crowded and you needed reservations if you wanted to get in between 6-9.  The sports books you could not find a seat in any of them.  As for the actual casino they were fairly empty all day long, but the volume picked up at night. 

I just can't believe how expensive food is in Las Vegas.  How can people who live around the strip afford that kind of shit. 
 
Covers Rehab
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Posted: #13
Have hookers started cutting rates?
 
Captain
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Posted: #14
Quote Originally Posted by woopdurritis:

I just got back from Vegas as well... I stayed at the Wynn (was given 2 free nights for attending a conference) The restaurants at the Wynn were all crowded and you needed reservations if you wanted to get in between 6-9.  The sports books you could not find a seat in any of them.  As for the actual casino they were fairly empty all day long, but the volume picked up at night. 

I just can't believe how expensive food is in Las Vegas.  How can people who live around the strip afford that kind of shit. 

 

Wood,

  Did u try the pancakes at the Terrace Point Cafe????  Best in the world.

 
Hall of Fame
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Posted: #15
Quote Originally Posted by TheVulture:

Have hookers started cutting rates?

 
Veteran
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Posted: #16
When I go to Vegas with the boys its not to expensive, gambling all the time, drinks for free, and I eat on comp credits.
However when my wife and I go, freakin expensive, $8 a drink $12 for a mixed drink for my wife.  Dinners out of control.  We do 50% gambling, then alot of pool shit, walking etc.  Expensive trip.
But I do love drinking a beer and walking the strip, best part of vegas.
 
All-Star
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Posted: #17
Quote Originally Posted by TheVulture:

Have hookers started cutting rates?

solid question

 
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Posted: #18
Anyone know how echellon the new casino being built is coming along.  Any info would be great.  Thanks
 
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Posted: #19
The news is not good:


"Boyd Gaming Corp. will take most of 2009 to evaluate alternatives for the now halted $4.8 billion Echelon, although the company’s CEO Tuesday ruled out selling the project."


"During Las Vegas based-Boyd Gaming’s third-quarter earnings conference call with analysts, Smith said construction of Echelon, a 5,000-room, multiple hotel development, would not resume in 2009. The company stopped the project Aug. 1, saying it hoped to resume construction in nine to 12 months."

"One joint venture partner, Morgans Hotel Group Co., is all but out of the Echelon, even though its agreement was amended. The agreement with another partner, mall developer General Growth Properties Inc., was dissolved earlier this month. General Growth is in serious financial trouble and put several of its Las Vegas retail sites up for sale on Monday."

"Shares of Boyd Gaming, which have fallen more than 90 percent from a 52-week high of $42.85 on Nov. 5, closed at $4.38 on the New York Stock Exchange Tuesday, up 55 cents or 14.36 percent."
 
Veteran
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Posted: #20
MGM profits down 67%

https://www.forbes.com/topstories/feeds/reuters/2008/10/29/2008-10-29T171723Z_01_N28429126_RTRIDST_0_MGMMIRAGE-UPDATE-5.html


 
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Posted: #21
sorry, should have made it a link:

https://www.forbes.com/topstories/feeds/reuters/2008/10/29/2008-10-29T171723Z_01_N28429126_RTRIDST_0_MGMMIRAGE-UPDATE-5.html
 
 
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Posted: #22
Adding to above the Echelon has been halted thru the end of 2009 and will either be scaled down or opened in phases.

Just read where MGM stock went up 35% after 3rd qtr earnings came back better than expected. MGM operating at 95% capacity and reduced budget on CityCenter and secured more funding.
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