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Crescent School of Gaming and Bartending

 
 
    COACH'S CORNER 

        

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 - 
The race is not always to the swift, nor the battle to the strong - but that's the way to bet. -Damon Runyon-

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