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What's New on the Strip?
Phil Ruffin, former owner of the New Frontier
on the strip, sold the property for a whopping price of
$1.2 billion. The hotel/casino was imploded earlier this
year and is now an empty piece of Las Vegas real estate
right on the strip.
Ruffin recently made a deal with the MGM/Mirage to buy
the Treasure Island (TI) for $775 Million. He still
needs to obtain his gaming license before the deal is
finalized, which should be completed by the end of the
first quarter of 2009. He said he would make no changes
at all, keeping everything as it now, including all of
the employees.
The only concern I have is that when he owned the New
Frontier, the dealers and suits in the dice pit were not
user friendly to players who set the dice. Since he said
he would make no changes, we will see how this goes;
everyone knows TI is my favorite place to play. For
those of you who don't come to Las Vegas very often I
will keep you informed as how things are going at TI.
I just received this e-mail form one of my students
regarding his last TI trip:
I know you really like TI but it was not the place to be
last week.
Monday as you know the weather sucked, so we went to TI.
Some lady had hit them hard the night before and the
suits were all getting yelled at. I assume it was the
casino manager but he was yelling at all the suits
telling them it's their duty to disrupt the shooter,
distract her, etc. to prevent big wins like this. (Six
figures) Anyway it was really ugly. The negativity was
passed along to the dealers and they were anything but
hospitable. They wouldn't talk to anyone, wouldn't
smile, wouldn't say thank you for any bets placed for
them etc. If fact some gentleman walked up to the table
and they said he could play but he couldn't shoot. After
a couple of rolls, and being yelled at for not hitting
the back wall on one throw, I left. Greg S. Thank you
for your report.
The imploding economy drove a strake through the heart
of the Strip in 2008, proving that gambling wasn't
recession-proof after all. In October gaming revenues
fell 22.3% the biggest decline since the state began
keeping records in 1984.
Some Casino operators stocks drop like a rock - 75% to
95% - with Boyd Gaming halting construction of the $4.8
billion Echelon due to the nonexistent credit markets.
Boyd said they did not expect to resume development on
the former Stardust site until at least 2010.
Meanwhile, Crown Las Vegas; Elad Group's planned $5
billion version of New York's Plaza Hotel; a second
Trump International; Las Vegas Sands $600 million
high-rise condominium tower; and an MGM Mirage
joint-venture on the Strips north end, were delayed
indefinitely. Source: Las Vegas Review Journal
On a brighter note:
Steve Wynn's $2.3 billion 2,000- suite hotel casino
Encore opened December 22nd. 2008.
Wynn stocks dropped about 50% in 2008. "I don't owe a
dime personally, and the company's solid as a rock,"
said Wynn, 66, chief executive and president of Wynn
Resorts ltd. "That's why we were just named to the S & P
500. We're not at risk here. We're very lucky" Source:
Gaming Today
MGM $9 billion City Center project is still on track and
is expected to open at the end of 2009, although there
have been rumors that some portions of the project will
be completed, wrapped and not opened until later.
Wishing you and your families a brighter New Year.
Beau
Dice Coach
| Another 20 minute
roll! I think between that little
modification and adopting your betting tactics,
that this will work well in the long run.
Thanks again! -
Bill - |
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" ... old gamblers never die ... they just crap out. |
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