Penn Natioal Gaming buying Trop LV
April 29th, 2015 at 10:40:44 AM
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http://www.lvb.com/article/20150429/LVB01/150429839/berks-gaming-firm-lands-iconic-las-vegas-strip-casino?utm_source=Listrak&utm_medium=Email&utm_term=http%3a%2f%2fwww.lvb.com%2farticle%2f20150429%2fLVB01%2f150429839%2fberks-gaming-firm-lands-iconic-las-vegas-strip-casino&utm_campaign=LVB+Daily+News%3a+Berks+gaming+firm+lands+iconic+Las+Vegas+strip+casino
PNG has had a large amount of cash on hand for a while and has been looking at the Strip for a few years. They reportedly also looked at Rio and he Mirage in the past.
Not sure how they are at the "M", but I find them to be one of tighter PA casinos with Comps.
PNG has had a large amount of cash on hand for a while and has been looking at the Strip for a few years. They reportedly also looked at Rio and he Mirage in the past.
Not sure how they are at the "M", but I find them to be one of tighter PA casinos with Comps.
April 29th, 2015 at 10:44:08 AM
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Everyone from employees to customers has complained about the before and after of Penn's involvement with the M. I was not there for the before, but I've heard players complain about the difference in comps and decline in restaurant quality, and dealers who had been there previously complain about Penn.
April 29th, 2015 at 2:51:52 PM
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Well hopefully (wishful thinking ?) the increased level of competition at that end of the Strip will make them step-up their game in terms of comps and restaurants and whatnots.
There's emptiness behind their eyes
There's dust in all their hearts
They just want to steal us all and take us all apart
April 29th, 2015 at 4:28:58 PM
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Are there any changes on allowing monkey figurines while playing $1k a hand on bac?
"Man Babes" #AxelFabulous
April 30th, 2015 at 4:43:52 AM
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This sucks especially if they start changing things.Quote: Bozhttp://www.lvb.com/article/20150429/LVB01/150429839/berks-gaming-firm-lands-iconic-las-vegas-strip-casino?utm_source=Listrak&utm_medium=Email&utm_term=http%3a%2f%2fwww.lvb.com%2farticle%2f20150429%2fLVB01%2f150429839%2fberks-gaming-firm-lands-iconic-las-vegas-strip-casino&utm_campaign=LVB+Daily+News%3a+Berks+gaming+firm+lands+iconic+Las+Vegas+strip+casino
PNG has had a large amount of cash on hand for a while and has been looking at the Strip for a few years. They reportedly also looked at Rio and he Mirage in the past.
Not sure how they are at the "M", but I find them to be one of tighter PA casinos with Comps.
I wish MGM would sell off their casinos. I'm rooting for some online gaming sites to get further into Vegas.
♪♪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♪♪
May 3rd, 2015 at 4:49:30 PM
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Quote: JohnnyQWell hopefully (wishful thinking ?) the increased level of competition at that end of the Strip will make them step-up their game in terms of comps and restaurants and whatnots.
I think not. Just look at the numbers . We know that Tropicana does less than $72 million a year in gaming based on it's category. So let's take an estimate at roughly $60m in gaming before taxes.Penn National gaming revenue was $2,297 million in 2014 and $2,615 million in 2013. So we are talking about Tropicana being roughly 3% of PNG revenue.
Just concentrating on PA, for the 2013-14 fiscal year (most recent completed), Penn National does $250m in gross gaming, and $130m after PA taxes
Tropicana rooms are inexpensive. There is an airport (MDT) 25 miles from Penn National in Harrisburg PA which is serviced by Allegiant. AA doesn't currently fly to Las Vegas from Harrisburg, but they may in the future.
So the Tropicana is a smaller gaming operation for Penn National than they have in PA
Penn National PA
$216,765,149 Gross Terminal Revenue SLOTS
$34,360,555 Gross Revenue TABLE GAMES
....
$100,736,423 Revenue after taxes SLOTS
$29,550,077 Revenue after taxes TABLE GAMES
So what makes sense to you? Penn National is going to play a ruinously competitive game of comps and restaurants and whatnots in Vegas. Or do you think they are going to offer deals to the Tropicana to encourage gamblers to play more in PA?
Now I am not suggesting that Penn National can fill all 1467 rooms in Vegas (half a million room nights) with Pennsylvania gamblers from Harrisburg. But they can fill a big percentage of them.
So people will gamble day to day in Harrisburg and get a discounted trip once a year to Vegas. If Allegiant puts in a nonstop it will be even more attractive.
If Hollywood casino in PA grosses a quarter billion dollars a year there has to be a minimum of 100,000 loyal gamblers. If you offer them discounted rooms for their loyalty (2-4 nights apiece) and 20% of them accept, that is a big portion of your rooms.
Multiply that by all that by all the other casinos owned by Penn National around the country.
May 3rd, 2015 at 7:16:38 PM
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Quote: pacomartinI think not. Just look at the numbers .
So what makes sense to you? Penn National is going to play a ruinously competitive game of comps and restaurants and whatnots in Vegas. Or do you think they are going to offer deals to the Tropicana to encourage gamblers to play more in PA?
Um yeah, that's what I meant to say ? Your insight continues to amaze me.
There's emptiness behind their eyes
There's dust in all their hearts
They just want to steal us all and take us all apart
