Boz
Boz
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January 23rd, 2013 at 9:24:36 AM permalink
http://www.lvrj.com/business/nevada-casinos-lose-a-combined-1-21-billion-in-fiscal-2012-188054711.html

I would assume MGM and CZR were a most of this.
Ibeatyouraces
Ibeatyouraces
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January 23rd, 2013 at 9:31:47 AM permalink
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DUHHIIIIIIIII HEARD THAT!
DJTeddyBear
DJTeddyBear
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January 23rd, 2013 at 9:52:56 AM permalink
Quote: Boz

I would assume MGM and CZR were a most of this.

Never assume.

That $1.21billion was state-wide. 265 casinos. I'm sure MGM and CZR were a big portion, but I'd bet it was well below 50% of that total.
I invented a few casino games. Info: http://www.DaveMillerGaming.com/ 覧覧覧覧覧覧覧覧覧覧覧覧覧覧覧覧覧覧 Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? 😁
pacomartin
pacomartin
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January 23rd, 2013 at 10:14:36 AM permalink
Quote: Boz

I would assume MGM and CZR were a most of this.



The $1.2 billion loss is by far the lowest loss in the last four years.
Collectively the cumulative loss over the past four years has been $14.8 billion and it was never lower than $3 billion before now.

Because this is a government report, it is not supposed to reveal information about any one corporation. They can only report on collective groups that cut across corporate boundaries (i.e. the average performance of the 23 casinos that made over $72 million on the strip in gaming revenue) which includes about 8 corporations.

The only thing that bothers me about this report, is the government lets them include an expense called "other". It isn't depreciation or amortization or interest or utilities or payroll or music or real estate taxes or advertising or the price of the food or the alcohol.

Accounting always has a catchall expense category, and you can think of it as small change, but this "other" category is absolutely huge. It amounts to $14.3 billion over the last 4 years (almost the same as the loss). I assume that this is the category where the casinos hide everything that they don't want the government to know about.
Ayecarumba
Ayecarumba
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January 23rd, 2013 at 10:22:05 AM permalink
Quote: Boz

http://www.lvrj.com/business/nevada-casinos-lose-a-combined-1-21-billion-in-fiscal-2012-188054711.html

I would assume MGM and CZR were a most of this.



I think Paco has stated in the past that the casino level details are closely held by the Gaming Board to prevent a specific joint from being easy to identify.

Looking at the numbers, though, it is amazing how Baccarat revenue dominates the Strip. In only 18 locations, at 265 tables, $1.3+ Billion was won in the twelve months ending November 30, 2012 (42% of the table games "win"). The only thing approaching Bacc in that same period is the win from 22,377 Multi Denomination slot machines in 38 Strip casinos ($1.2 Billion).

See the abstract here.
Simplicity is the ultimate sophistication - Leonardo da Vinci
Canyonero
Canyonero
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January 23rd, 2013 at 10:55:15 AM permalink
Quote: Ayecarumba



Looking at the numbers, though, it is amazing how Baccarat revenue dominates the Strip. In only 18 locations, at 265 tables, $1.3+ Billion was won in the twelve months ending November 30, 2012 (42% of the table games "win"). The only thing approaching Bacc in that same period is the win from 22,377 Multi Denomination slot machines in 38 Strip casinos ($1.2 Billion).

See the abstract here.



Thanks for the link, very interesting!

And thank you Asian rich guys for dropping so much money on the Baccarat tables! Keeps the casinos off the back of us Blackjack players and might spare us from a concerted 6:5 and CSM conspiracy for another couple of years.

And one more thing: Why are Nevada GCB doing their reports with a typewriter?
Ayecarumba
Ayecarumba
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January 23rd, 2013 at 10:59:51 AM permalink
Quote: Canyonero

And one more thing: Why are Nevada GCB doing their reports with a typewriter?



Hehe... It's not a typewriter, it's a state of the art (for 1981) dot matrix printer...
Simplicity is the ultimate sophistication - Leonardo da Vinci
duffytootx
duffytootx
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January 23rd, 2013 at 12:23:01 PM permalink
Quote: Boz

http://www.lvrj.com/business/nevada-casinos-lose-a-combined-1-21-billion-in-fiscal-2012-188054711.html

I would assume MGM and CZR were a most of this.



Doggone ..... I thought that $800 I left there would offset most of their losses.
DJTeddyBear
DJTeddyBear
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January 23rd, 2013 at 12:36:11 PM permalink
Quote: Ayecarumba

Hehe... It's not a typewriter, it's a state of the art (for 1981) dot matrix printer...

Actually, it's a laser printer. However, the software is designed to use a simple dot matrix printer. (yeah, circa 1981). Often laser printers will default to Courier, which looks like a typewriter, when getting unformatted text.

Similarly, a PDF of such a report, will use Courier.
I invented a few casino games. Info: http://www.DaveMillerGaming.com/ 覧覧覧覧覧覧覧覧覧覧覧覧覧覧覧覧覧覧 Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? 😁
Ibeatyouraces
Ibeatyouraces
Joined: Jan 12, 2010
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January 23rd, 2013 at 12:37:53 PM permalink
deleted
DUHHIIIIIIIII HEARD THAT!

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