Casino Deadpool

For those who never heard of one, a "deadpool" is where you pick famous people who will die in the New Year. "Famous" generally means if the AP runs the obit, they were famous. This thread is not about that. Instead, what CASINO do you think will die in 2011. Lets assume "announced closings" = death of a casino. For example, if they say in October that Circus Circus would close in Feb of 2012 that would be a winner. Not that we want to win by seeing a legendary place close. But still, who sees what joint going the way of the Dunes, Stardust, and so many others.

Don't limit it to Strip, Vegas, NV, or even the USA for that matter.

I think CC is a pretty good start. If the Plaza isn't exempted due to its already nebulous situation, then that's also a good bet. Riviera might be in trouble, too.

If it's available, I'll take the Plaza. If not, I'll take the Terribles in Pahrump that isn't on the highway (Lakeside, I think?)

Who knows. If a casino owns the property it sits on, it can fool you about long it can stay open. Locally we have a family who owns a chain of 200 huge grocery/department stores, they're similar to Walmart because they sell everything under the sun. They're billionaires and were started with a single store in the 1940's. They're in the top ten worldwide of completely family owned businesses. Their claim to fame, something the old man insisted on, was before they ever built a new store, they owned the property outright. Free and clear. He felt this protected them from almost anything that happens in the economy. He was from Europe and he didn't want to end up at the mercy of landlords, he'd seen first hand how that destroys a business.

Yeah, that's really true. I work in the film biz. There is a film lab called Du-Art in NYC which has been there for over seventy years. About thirty years ago, the owner(Irwin) bought the entire building and land.

Twenty years ago a writers strike knocked out most of the labs in NYC(there were over 15 and went down to three). Du-art survived because there was no rent to consider. The other survived because they were units of larger lab chains and were buoyed by the L.A. and London labs.

Ten years ago a new skyscraper went up on the same block. The developers closed all the other buildings and knocked them down, but they couldn't touch Du-Art due to the land and building being owned by Irwin. In order to make the block look "new" Irwin even got the skyscraper builders to clean the facade of his(it was caked and grimy with years of build-up).

So you should know if a casino owns the land its on, it can go a lot longer than the others.

Quote: darkoz

About thirty years ago, the owner(Irwin) bought the entire building and land.

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Very smart. In 1980 you could still do that, today the cost would be enormous. That building is probably worth 10 times what he paid for it.

Can I make it an Exacta?
The Rio and Lindsey Lohan in a Rio Bathroom. Boxed.

No reason to box the Exacta, LiLo would need to perish in the bathroom while the hotel was open, so you would pick Li-Lo, Rio, 1 - 2.

My bet is the Cirque du Cirque. All of the other strip casinos are bringing in operating profits. MGM's issue is the CityCenter and its long term debt. Closing any of its properties (beside Circus) wouldn't make sense. They might sell a couple of properties for cash flow. Circus Circus would be doing alot better if Echelon and Fontainebleau were finished. MGM will probably hold on until they they're certain that those two properties are dead.

Downtown on the other hand is hurting, really badly.

Quote: boymimbo

No reason to box the Exacta, LiLo would need to perish in the bathroom while the hotel was open, so you would pick Li-Lo, Rio, 1 - 2.

I think you underestimate her. I can see them finding the corpse in a closed casino. It may be a photo finish.

Quote: boymimbo

No reason to box the Exacta, LiLo would need to perish in the bathroom while the hotel was open, so you would pick Li-Lo, Rio, 1 - 2.

My bet is the Cirque du Cirque. All of the other strip casinos are bringing in operating profits. MGM's issue is the CityCenter and its long term debt. Closing any of its properties (beside Circus) wouldn't make sense. They might sell a couple of properties for cash flow. Circus Circus would be doing alot better if Echelon and Fontainebleau were finished. MGM will probably hold on until they they're certain that those two properties are dead.

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I thought I heard about 5 years ago there were plans for Circus Circus to be imploded but replaced by a "new" Circus Circus with the same theme. Now, the economy probably sank that idea for the time being. I think the "theme" of the place still kind of works for what it is.

Binion's. Outside of Vegas, Resorts Atlantic City.

Vegas:
Circus Circus
Riviera
Plaza
Vegas Club
Western

Reno:
Boomtown
Terrible's Rail City

Atlantic City:
Resorts
Hilton
Trump Marina

Longshot:
Greektown in Detroit.

Good feel on Greektown, but no way that place goes under, even if they are bankrupt. They are packed every single day. The city also would not let them go under; they are committed to the proposition of three casinos in downtown Detroit for "competitive" reasons. Greektown is also giving out the best comps and cashback in the Detroit area currently, so if you are making the trip up there, and that is important to you, I would visit them first. The casino itself is one step above dumpy. (They are making haphazard improvements).

The reason I picked Binion's is because they are owned by a small operator, and the operator does not own the underlying land on which the casino is built. There was a big lawsuit about rent payments a year or so back. TLC does not have his books open, but I feel he is heavily underwater since he owns both the Four Queens and Binions, and one or perhaps both are losing money. A couple bad months and Binions could not be able to function and have to close. Plaza, Vegas Club and Western have a hugely wealthy Finnish Jew (?) backing them up, and he can always throw money at them if they teeter on failure. Circus Circus has MGM behind it; don't think they would close it without a lot of advance notice and input from their shareholders and board. Riveria is probably a good choice.

In AC I picked Resorts because they just sold for peanuts to a private individual, and their revenue is declining hand over fist. They are on a unsustainable trend. Hilton is the next most dire; probably a toss up between them and Resorts. Trump Marina I think will stick around for some reason; don't know why, just a feeling.