Revel Facing Bankruptcy?

Quote: Mission146

BTW, have you gotten anything from Scioto Downs? In July, I got a mailer for $20 Free Play from July 16th-31st, again on August 1st-15th and then August 16-31st, which could be used more than once, but only once per time period.

Later on I got a mailer giving me $20 Free Play in three day sets which were Sun-Mon-Tue and Wed-Thurs-Fri for the entire month of August, but nothing for Saturdays, which makes sense. I thought about doing a LateP.M. Thurs./Early A.M. Wed. flex sort of thing, but it never panned out that way. I'm really hoping for a mailer for $50 Free Play on any given day, that'd be cool. They could even pick one specific day and I would make it up there.

I haven't gotten anything since the three-days deal, also useable more than once, do you think they're done with me?

This is what I'm talking about!!!

$300 Free Play for September, you guys try to build that loyalty before Hollywood opens!!!

$75 increments, one for each week of September, useable on any day except Saturday!!!

Looks like I'm going to Columbus four times next month!

Quote: IvanYerkanoff

Is it worth it to drive an extra hour in order to play a game in which you have a surrender option and the dealer stays on soft 17? Of course it is!

"Atlantic City blackjack is played with eight decks of cards and uses all of the standard blackjack rules. Unlike variations such as blackjack switch and pontoon, Atlantic City blackjack only has a few very small differences which are outlined below:

The dealer must stand on both hard and soft 17. In most blackjack games the dealer hits on soft 17, which is to the advantage of the casino.

Players can double down after splitting and can re-split up to three times in many casinos.

Atlantic City blackjack allows late surrender. This means the player can surrender and give up half their bet once the dealer checks for blackjack and doesn’t have it." casinotoplists

Quote: SanchoPanza

"Atlantic City blackjack is played with eight decks of cards and uses all of the standard blackjack rules. Unlike variations such as blackjack switch and pontoon, Atlantic City blackjack only has a few very small differences which are outlined below:

The dealer must stand on both hard and soft 17. In most blackjack games the dealer hits on soft 17, which is to the advantage of the casino.

Players can double down after splitting and can re-split up to three times in many casinos.

Atlantic City blackjack allows late surrender. This means the player can surrender and give up half their bet once the dealer checks for blackjack and doesn’t have it." casinotoplists

Sancho... You put a little typo/misinformation out there. It's the other way around and Pennsylvania offers surrender and Atlantic City does not. Also AC has S17, 6 deck games with NMSE at higher stakes. The official "line of demarcation" of this is at the $25 minimum betting level. All tables with minimum bets less than $25 in AC are 8 decks, H17, autoshufflers, etc.

"All the standard blackjack rules"? That sort of reminds me of one fine day when I walked up to a table and asked, "So what are the rules on this table?" The dealer looked at me and said, "It's... you know... uhm... just regular blackjack!" He was either being a bit of a smartass or he wasn't used to anyone asking that question. I had to get a little more definitive and ask how many times I could split pairs, can I surrender, do you hit soft17... uhm... you know... regular ol' ace and a 6...

Quote: IvanYerkanoff

Pennsylvania offers surrender and Atlantic City does not.

You don't say where you get your information. Meanwhile, casinos continue to advertise surrender: "If the dealer shows an Ace, you can buy “insurance”; a bet that the dealer has blackjack. You can bet up to half your original bet. If you don’t think your hand can win, say “surrender” before you hit or stand. It costs half your bet (only on certain games) ."
gaming guide

Just to add my 2 cents to all of this. I lived in NJ for 25 years until 2 months ago. As stated above Revel has many things going against it, many have been mentioned but here is my list, which is entirely based on what I think and not facts.

Pennsylvania is hurting all of AC, last year PA approved all table games and poker which further sucked more revenue from AC. Lots of people fell into the category I was in, 30 Minutes from 2 different PA casinos, 1 hour 10 minutes from AC. Much more convenient to go to PA.

Non-Smoking I think hurts them but in a different way then mentioned. It's not necessarily about whether I can smoke but also how far do I have to go to smoke. Several years ago when NJ banned all smoking inside it originally included the casinos, they whined and after 3 months it was lifted for casinos. When I go to a casino 75% of my play is in the poker room. When they banned smoking in AC it wasn't a big deal, i played poker mostly at the borgata and Taj. Poker rooms, even before the ban were non smoking, and you had to go to a smoking section of the casino to light up, which was very close to the poker room. After the ban the additional distance at the borgata is maybe 50 feet and at the Taj it is easier to go outside to smoke then into the main casino. The revel(i was only there once) is huge and the gaming areas are not close to exits where people can smoke. People may not agree but I think this matters. A non-smoking casino can still attract gamblers that smoke, but if it is a 15 minute walk to smoke, it is less likely they will gamble there.

Revel is new and it is tough to get new customers at a casino. Frequent gamblers have established gaming history at properties, to steal gamblers away from the casinos they are loyal to is really tough. Even if your casino is better, people are creatures of habit and many people have favorite casinos. Due to having to re-establish your gambling you will lose some "comp" time while visiting a new casino.

Don't think they are doing it anymore, but years ago in order to compete the casino's in AC were giving you free upper tier cards if you had an upper tier card at another casino, many times with the tier status for a year and a free room or two, free slot money or match play etc... in order to steal the other customers. So what happened? Pretty much nothing. Most of the people I know who had higher tier cards, including myself, went around to all the casinos that were offering this promo, got the free higher tier card, used our free comps or whatever and then when the free stuff ran out most of us returned to our original property. The number of players that stayed at the new property was probably low and also was probably roughly equal to the players they lost. In the long run all the players got a bunch of free stuff and the number of players at each casino probably roughly the same, so basically the players for once actually probably benefited and the casinos prob just lost a bunch of free stuff.

The borgata opened in 2003 or 2004, can't remember, the economy was much different and they were a brand new type of property, something brand new to AC in a time when AC was doing well and they were able to grab lots of the player pool and become number 1. many other casinos renovated and tried to keep up. The revel really isn't offering anything new, and the casino that is their major competition, the borgata, is the best in AC and is not easy to steal players from. When the borgata opened, the first weekend there was literally a line on the freeway to get into the garage, it was just a much different time, and when times are tough it is really hard to be a new player in the game.

Prior to revel opening i used to pass all of their ads on the bridges in and out of philly and the surrounding area. The ads basically said revel on it somewhere but did not really easily point out what exactly it was. I only knew because I am a frequent gambler and follow the gaming industry. Anyone I asked who was in my car when we passed one of these, even those who were gamblers, not 1 person was able to tell me what exactly revel was. I'm not a marketing or ad exec but it looks to like their ads bombed majorly.

" which is entirely based on what I think and not facts." that applies to almost all posters, with the notable exception of Paco.

Quote: IvanYerkanoff

"Pennsylvania offers surrender and Atlantic City does not."

Quote: SanchoPanza

You don't say where you get your information. Meanwhile, casinos continue to advertise surrender: "If the dealer shows an Ace, you can buy “insurance”; a bet that the dealer has blackjack. You can bet up to half your original bet. If you don’t think your hand can win, say “surrender” before you hit or stand. It costs half your bet (only on certain games) ."
gaming guide

I need to say where I get my information, Sancho? I am sort of questioning the same of you, trust me on that one! I get my information from living here in Atlantic City and being in just about every casino this side of the Caloosahatchie River while you're at it. Not online, not off the net, not off some article someplace but from physically standing there with the array of blackjack tables before me. When was the last time you were in AC?

There is no surrender in AC and there has not been for some time. I was there two weekends ago. I didn't play because I have access to better games which I can play any time I choose. My wife and I enjoy the occasional getaway there and her miniscule slot play gets her plenty of free rooms.

On this trip I visited all 12 casinos and I can assure everyone that you will not sit down at a blackjack table and find surrender anywhere in town. I have heard of high rollers requesting it but have no first hand information of it being granted.

Quote: IvanYerkanoff

Quote: IvanYerkanoff

"Pennsylvania offers surrender and Atlantic City does not."

Quote: SanchoPanza

You don't say where you get your information. Meanwhile, casinos continue to advertise surrender: "If the dealer shows an Ace, you can buy “insurance”; a bet that the dealer has blackjack. You can bet up to half your original bet. If you don’t think your hand can win, say “surrender” before you hit or stand. It costs half your bet (only on certain games) ."
gaming guide

I need to say where I get my information, Sancho? I am sort of questioning the same of you, trust me on that one! I get my information from living here in Atlantic City and being in just about every casino this side of the Caloosahatchie River while you're at it. Not online, not off the net, not off some article someplace but from physically standing there with the array of blackjack tables before me. When was the last time you were in AC?

Last time I was in AC there was no surrender. When I tried it, the dealer said "From Pennsylvania, eh?"

So the coming Monday, August revenue figures will be released. What are your predictions? I think Revel will make about 22-23 million from gambling.

Quote: Bhappy

So the coming Monday, August revenue figures will be released. What are your predictions? I think Revel will make about 22-23 million from gambling.

For the month? Really? I'll take the under...

Quote: Bhappy

So the coming Monday, August revenue figures will be released. What are your predictions? I think Revel will make about 22-23 million from gambling.

That is in the range of Showboat which made $21.6M in August 2011, and $29.0M in August 2010. Revel has come nowhere near the Showboat up until now.

Do you know something? Why the optimism?

Quote: pacomartin

That is in the range of Showboat which made $21.6M in August 2011, and $29.0M in August 2010. Revel has come nowhere near the Showboat up until now.

Do you know something? Why the optimism?

I think by now they have filtered out the free loaders. In the first few months they did not comp rooms, then they comped rooms, and gave free foods to tier players. Lots of them came, stayed, ate, but played other places. Now it seems that offers are only going out to people who have played there.

Quote: Bhappy

I think by now they have filtered out the free loaders. In the first few months they did not comp rooms, then they comped rooms, and gave free foods to tier players. Lots of them came, stayed, ate, but played other places. Now it seems that offers are only going out to people who have played there.

You think revenue will go up because the player count went down?

Quote: Bhappy

I think by now they have filtered out the free loaders. In the first few months they did not comp rooms, then they comped rooms, and gave free foods to tier players. Lots of them came, stayed, ate, but played other places. Now it seems that offers are only going out to people who have played there.

I have to agree with paco and rdw that the logic is a bit flawed. 22-23 million is a bit more than optimistic. The better question is whether Atlantic Club will jump up a few more positions given their strategy.

I stayed here two nights at the end of July. I signed up for their new card, earned $10 in Resort Dollars, and redeemed an offer THAT DAY for a free night, $50 food, and $25 freeplay. The food was great and the rooms are spectacular. The next day my buddy did the same promo using my bankroll (free night, $50 food, $25 freeplay). It took about an hour to put the coin-in on $1 9/6 JOB. I think I lost about $20-$40. There was a bonus freeplay game that day which was a nice little extra E.V. I also put in about 6-7 hours of Blackjack/Spanish 21 at an average bet of $10-$25.

We ate at Luke's and the Mussel Bar. The Mussel Bar is fantastic. Get the original recipe mussels, you won't be disappointed. Great beer selection, too. Luke's was uneven. The provolone cheese whiz fries with braised short rib was one of the best things I've ever eaten; the lobster reuben was okay; and my friend's whole Maine lobster was pretty awful. (A party at the table next to ours sent his back). Of course everything was comped. We didn't try any of the other restaurants.

Friend said he got a bounceback offer for one free night Sunday-Thursday, which he's using. (He lives in Jersey, so it is convenient for him). I haven't gotten anything yet but I'm not sure I gave them the right address.

All-in-all I think it is a fantastic property, one of the best hotels I've ever stayed in. Every room comes with a free tablet computer that is connected to the internet and also controls the lights, curtains, and TV. The lobby has a library with a really cool selection of art books. They are definitely going for the "Cosmopolitan East" vibe. Great indoor/outdoor pool on the second level. The casino is fine, obviously non-smoking is a huge plus. Table games were fine, video poker could be better for low rollers but 9/6 JOB is always nice. Cashback is 0.25% which is above average.

They seem to be doing fine on table games but every time I walked in NOBODY was playing slot machines. They are not getting any walk-in traffic since it is such a chore to get up to the casino from the Boardwalk, and they don't run any bus junkets. It seems table game players are more interested in exploring/visiting/actually playing at the casino, while the fickle slot player couldn't care less about the amenities. They are going to have to do something about increasing their slot drop if they want to stay afloat.

Quote: teddys

They seem to be doing fine on table games but every time I walked in NOBODY was playing slot machines. They are not getting any walk-in traffic since it is such a chore to get up to the casino from the Boardwalk, and they don't run any bus junkets. It seems table game players are more interested in exploring/visiting/actually playing at the casino, while the fickle slot player couldn't care less about the amenities. They are going to have to do something about increasing their slot drop if they want to stay afloat.

Revel has the lowest per machine revenue of any casino in AC.

Quote: pacomartin

Revel has the lowest per machine revenue of any casino in AC.

So far.

Quote: rdw4potus

You think revenue will go up because the player count went down?

Free Loader players don't count - they never contributed to the player count. Now offers are targeted to people who have play time. Couple of weeks ago ALL Sundays in September were booked 100% (even if you wanted to pay and stay).

Quote: teddys

while the fickle slot player couldn't care less about the amenities. They are going to have to do something about increasing their slot drop if they want to stay afloat.

Like dropping the 'no smoking' maybe?

Quote: teddys

They are going to have to do something about increasing their slot drop if they want to stay afloat.

Slot Revenue in Atlantic City for the last 12 months has been $2.27B down 40% from it's high of $3.80B in 2006 before the first Philadelphia racinos opened.

Slot Revenue on Vegas Strip for the last 12 months was $2.89B down 18% from $3.51B for 12 months ending October 2007 (peak).

Slot Revenue on PA was $2.48B for the fiscal year ending 1 July 2012.

Considering that Revel should be a business for the next 20 years, I think the idea of a luxury destination making money on slots is fading quickly.

Quote: EvenBob

Like dropping the 'no smoking' maybe?

Nah...if they just dropped their asking price of $200 mid-week, and $300 weekend rate to sleep, they would do much better.

Quote: Bhappy

Nah...if they just dropped their asking price of $200 mid-week, and $300 weekend rate to sleep, they would do much better.

But surely the other attractions in Atlantic City are worth the asking price. They still have that diving horse on the Steel pier, don't they ?

Quote: buzzpaff

But surely the other attractions in Atlantic City are worth the asking price. They still have that diving horse on the Steel pier, don't they ?

The diving horse on the steel pier has produced enough cool-aid for Revel Marketing dept.

Hey I saw the diving horse the last year he dove. On a winter night, no less.

Quote: buzzpaff

Hey I saw the diving horse the last year he dove. On a winter night, no less.

Haha that explains it. All that cool-aid was frozen all this time. It took spring and summer for it to thaw.

At least no jelly fish to sting him and the girl rider.

Quote: Bhappy

Free Loader players don't count - they never contributed to the player count. Now offers are targeted to people who have play time. Couple of weeks ago ALL Sundays in September were booked 100% (even if you wanted to pay and stay).

Free loader players? If the casino is really so bad that people are going to stay at Revel and play elsewhere, then they're utterly doomed. Seriously, non-rev rooms only cost the resort the marginal cost of labor on the housekeeping. That $5 isn't why the resort is failing.

What is the average room rate in the hotel on those sundays in September?

Quote: rdw4potus

Free loader players? If the casino is really so bad that people are going to stay at Revel and play elsewhere, then they're utterly doomed.

What is the average room rate in the hotel on those sundays in September?

It has nothing do with the casino itself. Free loaders want to maintain their tier level at their old places. Revel wants $200+ for Sun-Thu. Caesar is $87, and Borgata is $119-149. Showboat is about $55.

Quote: Bhappy

It has nothing do with the casino itself. Free loaders want to maintain their tier level at their old places. Revel wants $200+ for Sun-Thu. Caesar is $87, and Borgata is $119-149. Showboat is about $55.

I didn't ask what they wanted, I asked what they got:-) A percentage of those rooms went for free to players, so what really matters is the average room rate. I bet it's about $50 (i.e. 1 in 4 guests actually pay for their room)

Quote: rdw4potus

I didn't ask what they wanted, I asked what they got:-) A percentage of those rooms went for free to players, so what really matters is the average room rate. I bet it's about $50 (i.e. 1 in 4 guests actually pay for their room)

How do you know it is 1 in 4?

Quote: Bhappy

How do you know it is 1 in 4?

I don't. And I'd bet there's a casino rate somewhere between $0 and the full roomrate, maybe in the $110/night range. But I can't imagine many people actually pay $200. The average actual room rate at most casinos is between 25% and 50% of the stated room rate. Revel is struggling pretty badly, so I assumed that they'd be at the low end of the spectrum.

Silly question. Are there any figures that show total win as a casino proportional to comps. I know when the Isle was the dominant casino in Blackhawk, it was the leader in comps. Now Ameristar is the leader and their comps reflect it.

Or is that a which came first, the chicken or the egg, sort of question ?

Quote: buzzpaff

Silly question. Are there any figures that show total win as a casino proportional to comps. I know when the Isle was the dominant casino in Blackhawk, it was the leader in comps. Now Ameristar is the leader and their comps reflect it.

Or is that a which came first, the chicken or the egg, sort of question ?

It isn't a silly question, but I would have to dig out the information.

I stand corrected about room occupancy rates. There is a data sheet that shows occupancy rates and average room rate.
Revel had a mere 44.8% occupancy rate but rooms were an average of $210.96 /night (includes comped rooms)
Showboat had 89.2% occupancy rate but rooms were $93.27 /night.


But if you look at my earlier figures for slot machine returns, you realize how much they overwhelm room rates. You often have two slot machines for every hotel room in a casino, and a slot machine at a good casino can generate $250-$400 per day. And you have very little maintenance with a slot machine.

Looking at last month's revenue as dollars per slot machine day, Revel comes in dead last.

$150	Revel
$153	Resorts
$178	Trump Plaza
$195	Golden Nugget
$230	Tropicana
$257	Showboat
$272	Trump Taj Mahal
$280	Ballys
$285	Atlantic Club
$331	Ceasars
$351	Harrah's
$400	Borgata

" And you have very little maintenance with a slot machine. "

In 1990 I worked 6 months in a small casino in Blackhawk. How small ? 140 slot machines. I was security, slot tech, count team, and when she went home at 10 O'clock, I was the world's ugliest barmaid. Back then there was labor involved. Hopper fills to start with.
Plus the cashier selling coins. And during hard count, rolling all those damn nickels. And winners cashing out at the cage.

Bigger casino's had girls on the floors selling coins. On slow nights I did foreign runs. Going to other casinos and cashing into the dollar slugs of theirs.

I will admit I thought TITO was no big thing at first. Boy was I ever wrong ! I mean my wife worked at Lady Lucky and the drop from the machine to the metal trays were 2 or 3 feet. KLANG KLANG , especially when cashing out dollars. Plus people liked carrying cups full of money, or so I thought.

My wife Josie summed it up best, though. MORE time to gamble LOL

Only real maintenance was once a week. Could never prove it, but slot tech who trained me went to Blackhawk Station. It was not a friendly departure. Once a week, usually Friday or Saturday each of 5 bar VP machines would jam. There is a railroad track like device that lifts the coins up from the hopper to the bar when cashing out. If you bend a quarter just right, the coin in slot will accept it, but it will jam the upward device.

At least he had a friend only put one bent quarter in each. LOL

Quote: rdw4potus

Free loader players? If the casino is really so bad that people are going to stay at Revel and play elsewhere, then they're utterly doomed.

No, its the players that are really so bad as to take steeply discounted rooms at Revel and actually spend their money elsewhere to maintain their reputation.

Does Revel do anything that might attract Non-Slot Players?

Does Revel have a slot machine mix that is particularly skewed?

Quote: FleaStiff

Does Revel do anything that might attract Non-Slot Players?

Does Revel have a slot machine mix that is particularly skewed?

Actually, they have lot more than other casinos for Non-Slot players, but they want Outrageous prices.

and as you said,"its the players that are really so bad as to take steeply discounted rooms at Revel and actually spend their money elsewhere to maintain their reputation.".....It has nothing to do with slot mix.

In summary, they either give too much in freebies, and the free loaders don;t spend money there.

For non-freebie recipients they want too much money from them. So they don't come, pay, stay, play and spend money.

They should have adopted Ameristar (Black Hawk strategy) - No upfront freebie, but freebies can be earned instantly. We went there few months ago (mid week, first time). I was told to book at normal rate, but they told me if I made X points the room would be at casino rate, if I made Y points the room would be free. If I made 25 points ($4 coin in - 1 point), buffet would be free.

We stayed 2 nights for free, and had 3 free buffets.

They were the prettiest, and most busy casino in Blackhawk.

Quote: Bhappy

They should have adopted Ameristar (Black Hawk strategy) - No upfront freebie, but freebies can be earned instantly. We went there few months ago (mid week, first time). I was told to book at normal rate, but they told me if I made X points the room would be at casino rate, if I made Y points the room would be free. If I made 25 points ($4 coin in - 1 point), buffet would be free.

Ideally, yes Revel would adopt Ameristar's strategy, as they are one of the few casino groups that actually know how to manage a casino...

for slot players, that is. Since the majority of gamblers play slot machines, this IS the correct strategy to follow. Ameristar has effectively limited their table games and seem to cut more and more at every opportunity (at least they did in Saint Charles, Kansas City, and Council Bluffs, and come to think of it, East Chicago.) The problem is the "party-going" customer Revel is after only plays 20-40 bucks in the slots. They are more apt to play craps or blackjack poorly, but casinos don't make a ton of money on those customers (at least in the short-term).

Ameristar is a slot machine player's paradise. My mom almost exclusively plays at Ameristar. I have gotten to the point where I just can't stand them, as they cut table games back to a ridiculous level. But as I said, they're one of the few casino groups that actually knows how to manage a casino, IMO.

Ameristar seems to give the customers what they want, not what some suits have decided the customer wants.

Aneristar Blackhawk has over 1,450 slot and video machines, 27 tables games and 17 live poker tables.

The problem isn't WHAT Revel is; the problem is WHERE Revel is.

Woldus is on his way to Atlantis. We were just there, and absolutely loved the place. Sure, there's a casino. But you don't go there because there's a casino, you go there because it's in the Bahamas, and there are lots of wonderful things to do and see, and maybe a couple nights you can go to the casino.

Revel, there's nothing else. Hey, maybe you can walk the boardwalk and see the homeless people. Hey, while you're on the boardwalk, take a chance on not getting sick by ordering some food! Or go to the outlet mall and walk through the shops that are exactly the same as the shops at the outlet mall near your home town. Or get a hoagie from White House Subs!

The Atlantic City story is such a massive waste. How could a city in the middle of the most populated section of the United States a BEACH city with amusement parks and a long history as a vacation destination (my parents took us there in the '50s and '60s) fail so spectacularly? The only answer is greed and corruption. It's like that scene in Goodfellas, where the restaurant owner asks for help and gets it... and in return the mobsters move in on his place, suck it dry and leave it an empty shell.

Revel can be exactly what they want to be, and fail... or they can be exactly what people here say they should be... and fail. Because the place is on the boardwalk in Atlantic City.

" It's like that scene in Goodfellas, where the restaurant owner asks for help and gets it... and in return the mobsters move in on his place, suck it dry and leave it an empty shell. "

The politicians in New Jersey share the greater part of any blame. Tax money immediately left AC and very little trickled back.

This from this morning New jersey newspaper. I am taking a college class into to computer this semester. But for now am ignorant in how to post a link SIGH

" Industry analysts say the prospect of Revel failing is not far-fetched. Last month, the $2.4 billion resort that opened in April was forced to seek $100 million from lenders amid disappointing gambling profits and complaints from vendors and builders that it was not paying its bills."

And Last Thursday's paper :

"Revel, the $2.4 billion resort hoping to touch off an economic rebirth in Atlantic City, allegedly owes half a million dollars to a cleaning company that says it hasn’t seen a dime for its work this year, according to a federal lawsuit. "

Quote: Tiltpoul

Ideally, yes Revel would adopt Ameristar's strategy, as they are one of the few casino groups that actually know how to manage a casino...


IMO.

Any casinos - specially new casinos promotions should be designed such that it entices customers to come - once they come make them spend at certain levels with instant freebies, dangle enough freebies that if they spend X they also would be rewarded in future.

The way Revel went about doing it was giving away free parking, free money, free rooms, free foods, free show tickets to tier players at other properties (as well as up to 300 mile radius) up front. This made people to come, but they did not have any hooks for to people to stay/play there. They just ASSUMED once those high rolling gamblers came, they would be impressed so much by their beauty that they will not leave, and abandon other properties. CET properties or even M Life properties have the most effective loyalty program. They are national franchise. Tier players from there are not going to jeopardize their tier levels to play at Revel.

The "party going crowd" Revel is after - The Apple crowd- is not stupid. They may come to Revel for Parties, fine food and concerts, but are not going to pay $300+/weekend night to sleep.

AC is not Vegas, and will never be. Even in Vegas, the mix of gaming/non gaming revenues at Cosmoplitan or Aria is 55-60%/45-40%. In AC it is 80% gambling/20% non gambling.

Yes the future of AC is to offer more than gambling, but one has to build that business. If the price point is kept very high one can not build non gaming business base.

Quote: buzzpaff

" It's like that scene in Goodfellas, where the restaurant owner asks for help and gets it... and in return the mobsters move in on his place, suck it dry and leave it an empty shell. "

The politicians in New Jersey share the greater part of any blame. Tax money immediately left AC and very little trickled back.

Hehe, it was just an analogy, a little bit knowing but still. I was counting New Jersey politicians as mobsters. (Along with probably some real mobsters, of course.)

"This from this morning New jersey newspaper. I am taking a college class into to computer this semester. But for now am ignorant in how to post a link SIGH"

You need to do following:

1. Open another tab (go to "File" in the most left corner of your screen).
2. Copy (CTRL C) the stuff that is the the white area (the area where you type www.xxxxx.com).
3. Come back to the tab for this site and this post
4. Paste (CRTL V) the stuff you copied.

was it this story?

http://www.nj.com/news/index.ssf/2012/09/hedge_funds_risky_ties_to_reve.html

I didn't have a chance to read through all of these but they recently received financing, enough to keep them in operation. The fact is AC is dead, why would I want to goto any of the casinos there. Wheifn PAS are better? If I want to goto the beach, ill goto ocean city Maryland. As it stands, I still think REVEL is the best in AC. Its beautiful and high class something that's lacking in AC. My fellow blackjack players the one night were 2 doctors and a residential, that's good company. If I goto trump, well that's a different story.

Perhaps they failed to remember that their market is NY/NJ "Sharpies" who would indeed take whatever freebies they could but had no intention of opening their wallets in Revel.

The Blackhawk, Colorado method of disclosed comps is good but if a casino really wants to be Slots R Us then anything else is pure window dressing.

Quote: Bhappy

They just ASSUMED once those high rolling gamblers came, they would be impressed so much by their beauty that they will not leave, and abandon other properties. CET properties or even M Life properties have the most effective loyalty program. They are national franchise. Tier players from there are not going to jeopardize their tier levels to play at Revel.

BINGO! Good summary.

Quote: SOOPOO

BINGO! Good summary.

By the way, SOOPOO, I'm a little late with this but thought you might enjoy it if you haven't seen it yet.

Comic strip

I was wrong. They made only $20 million.