Boz
Boz
Joined: Sep 22, 2011
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August 10th, 2016 at 9:58:24 AM permalink
Quote: AxelWolf

Atlantic club did NOT give out all their progressive money.

And The Revel I don't think they did either.

No one can show me anything that says they have to.



Going back 10 years I recall the Sands giving it away in drawings. But that's doesn't mean they HAD to, just that they did. But that was a different time in AC and Pinacle was eager to build on the site. Now a giant empty lot.
AxelWolf
AxelWolf
Joined: Oct 10, 2012
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August 10th, 2016 at 10:29:41 AM permalink
One must go around and add up all the overage of the progressives. It's not always easy on all slots to know exactly what the reset is. I'm not saying they didn't give any out but it seemed considerably short. As long as they make a valid attempt I guess that's all anyone can ask for.

LOL @ MaxPen I think he went around and added up everything including mini must hits at Mermaids and whatever the one across the street is called. Very Nice +EV situation. We thought we had it all locked up with hundreds and hundreds of ticket, but Bad beats on the drawings. game set match to the ploppies

*Shrugs*
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
Wizard
Administrator
Wizard
Joined: Oct 14, 2009
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August 10th, 2016 at 12:00:05 PM permalink
Quote: AxelWolf

No one can show me anything that says they have to.



Nor can I. I'm only claiming it is a Nevada law and could be wrong there too.

What happened to progressive money when Binion's suddenly got closed down?
It's not whether you win or lose; it's whether or not you had a good bet.
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
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August 11th, 2016 at 11:10:14 AM permalink
Quote: gamerfreak

Another one bites the dust.

I really feel like Trumps name is -EV especially after this election. I can't believe people still pay him to use the name.

I was looking at the photos today of when Taj first was being built. Each letter on the building had to be hoisted up by helicopter, then people hanging onto the building nudged the letters into place. The Trump name is built in everywhere in that place. Who knows, maybe after the election people mourning and relishing his loss, will want to go to that casino. I don't think he'll win and I no longer believe Taj is really going to close or stay closed for long. The northern new jersey casino issue will matter in this happening. We'll see.
#FreeNATHAN #Paytheslaves
AxelWolf
AxelWolf
Joined: Oct 10, 2012
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August 11th, 2016 at 1:07:39 PM permalink
Quote: Wizard

Nor can I. I'm only claiming it is a Nevada law and could be wrong there too.

What happened to progressive money when Binion's suddenly got closed down?

I don't remember anymore. What year was that?

I remember they got shut down briefly because they didn't have enough money in the cage to cover everything.

I'm still not sure if all the progressive money from LVC went to Plaza, I swear they had a keno and some slot progressive around. I didn't see it at Plaza but I didn't really scour everything.

When they shut down the back part of LVC I fairly certain they didn't distribute everything to the front.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
DRich
DRich
Joined: Jul 6, 2012
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August 11th, 2016 at 1:15:54 PM permalink
Quote: Wizard

Nor can I. I'm only claiming it is a Nevada law and could be wrong there too.



I don't know if it is a "law" but Nevada Gaming has put out this memorandum for casino closures. I just happened to run across this yesterday.

http://gaming.nv.gov/modules/showdocument.aspx?documentid=299



5. Plans for disposition of any progressive amounts. The disposition of all inhouse
progressives (e.g., slots, poker, keno, bingo, and table game
progressives) should be included in the plan. This would include any
progressive that had been temporarily removed from the floor pursuant to
NGC Regulation 5.110(6). Additionally, the plan should state whether intercasino
linked systems (ILS) will remain on the floor. If ILS are to be
removed, the licensee should coordinate with the operator of the ILS to
ensure compliance with NGC Regulation 5.112(6) and (7) and address the
resolution in the plan. Some progressive disposition plans will require
Board approval. Separate correspondence seeking approval pursuant to
NGC Regulation 5.110(5) and (7) should be sent to the Board at least thirty
days prior to the closure to allow sufficient time for disbursement of
progressive amounts (if required) in advance of the closure.
Living longer does not always infer +EV
ThatDonGuy
ThatDonGuy
Joined: Jun 22, 2011
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August 11th, 2016 at 1:25:35 PM permalink
Quote: DRich

I don't know if it is a "law" but Nevada Gaming has put out this memorandum for casino closures.


Nevada Gaming Regulation 5.510:

5. A licensee shall not reduce the amount of a progressive payoff schedule or otherwise eliminate a progressive payoff schedule unless:
(a) A player wins the progressive payoff schedule;
(b) The licensee adjusts the progressive payoff schedule to correct a malfunction or to prevent the display of an amount greater than a limit imposed pursuant to subsection 4, and the licensee documents the adjustment and the reasons for it;
(c) The licensee distributes the entire incremental amount to another single progressive payoff schedule on similar game(s) or machine(s) at the licensee’s establishment and:
(1) The licensee documents the distribution;
(2) Any game or slot machine offering the payoff schedule to which the licensee distributes the incremental amount does not require that more money be played on a single play to win the payoff schedule than the game or slot machine from which the incremental amount is distributed unless the incremental amount distributed is increased in proportion to the increase in the amount of the wager required to win the payoff schedule;
(3) If from a slot machine, any slot machine offering the payoff schedule to which the incremental amount is distributed complies with the minimum theoretical payout requirement of Regulation 14.040(1); and
(4) The distribution is completed within 30 days after the progressive payoff schedule is removed from play or within such longer period as the chairman may for good cause approve;
(d) For games other than slot machines, the incremental amount may be distributed within 90 days of removal through a concluding contest, tournament or promotion and the contest, tournament or promotion is conducted with a game(s) similar to the game(s) from which the amounts are distributed; or
(e) The chairman, upon a showing of exceptional circumstances, approves a reduction, elimination, distribution, or procedure not otherwise described in this subsection, which approval is confirmed in writing.

6. A progressive payoff schedule may be temporarily removed for a period of up to 30 days to allow for the remodeling of the licensed gaming establishment, or for such longer period or other good cause as the chairman may approve.

7. Except as otherwise provided by this section, the incremental amount of a progressive payoff schedule is an obligation to the licensee’s patrons, and it shall be the responsibility of the licensee if he ceases operation of the progressive game or slot machine for any reason, including a transfer of ownership of the licensed gaming establishment, to arrange for satisfaction of that obligation in a manner approved by the chairman.
SOOPOO
SOOPOO
Joined: Aug 8, 2010
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August 11th, 2016 at 1:28:18 PM permalink
Quote: gamerfreak

Even if that ends up being the case, I think it's a very one-dimensional way to look at the issue. I thoroughly believe that when everyone does better, we all do better. It would mean spending less tax payer money on cash assistance, medical, and housing programs all while increasing tax revenue to put towards things like infrastructure and education.



Ummmm... NO! If CEO makes 1 million a year he pays, oh, 400k in state and federal taxes (NY). If he makes 2 million a year he pays maybe 820k. If that extra million is given to 500 workers to boost them from 20k a year to 22k a year, since they pay no federal or state taxes at those levels, the feds and state get LESS when the wealthy make less and the poor make more.
You may still want the poor to make more for a variety of good reasons, but increasing tax revenue is certainly not one of them.
ECoaster
ECoaster
Joined: Apr 21, 2014
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August 11th, 2016 at 5:21:49 PM permalink
Quote: GWAE

I thought I remembered Atlantic Club having a bunch of drawings for free play right before they closed to give away progressives.



Any chance some of those funds were transferred along with the machines to the Trop?
Mission146
Mission146
Joined: May 15, 2012
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August 12th, 2016 at 10:14:45 AM permalink
Quote: Wizardofnothing

Nope it's all people from other casinos - I knew one of them so I stopped and spoke to him for a second



That was also my experience when looking for people to interview. Here's my Article on it, which also includes an interview with Ben Albert, one of the head Unite Here organizers:

http://wizardofvegas.com/articles/trump-taj-majal-to-close/
Vultures can't be choosers.

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