WongBo
WongBo
Joined: Feb 3, 2012
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March 15th, 2012 at 9:20:00 PM permalink
Foxwoods Is Fighting For Its Life
In a bet, there is a fool and a thief. - Proverb.
NicksGamingStuff
NicksGamingStuff
Joined: Feb 2, 2010
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March 15th, 2012 at 9:33:42 PM permalink
MGM has tons of money they should chip in more to their Foxwoods Hotel
pacomartin
pacomartin
Joined: Jan 14, 2010
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March 15th, 2012 at 10:56:47 PM permalink

That visage is scarier than anything in a fairy tale.
EvenBob
EvenBob
Joined: Jul 18, 2010
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March 15th, 2012 at 10:57:48 PM permalink
So they owe 2.3 billion to 75 creditors, were paying all the
adult tribe members 100K a year for doing nothing, they built
a $225 million tribute to themselves and called it a museum,
and now they're crying like babies. Half (or more) of the secret
to being in business in knowing when to cut your losses and
get the hell out. Their customer base dwindles with every
new casino built, their customer base is maxed out, yet the CEO
thinks they can 'turn things around' with a 300,000 sq ft outlet
mall. And he admits they stopped paying comps to table game
players, like we didn't know that already.

Bye bye Foxwoods.
"It's not enough to succeed, your friends must fail." Gore Vidal
calwatch
calwatch
Joined: Feb 7, 2010
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March 16th, 2012 at 2:12:08 AM permalink
It does raise an interesting question about what level of saturation of casinos there are, and how to get new customers. In comments, apart from the usual hand-wringing of folks who disdain gambling as a legitimate pursuit (while they continue to smoke out, or shop to they drop, or eat all they can, or whatever), there is a good point made about how the club scene has expanded in Vegas over the last ten years (although showing their age, they call them "discos"). My experience, though, is that clubbers generally don't make good gamblers. Walk through Planet Hollywood or Caesar's at midnight and although you will find more of the target future demographic than, say, at the Palace Station, I would say that the majority of people are still 40+, loud annoying music notwithstanding.
PopCan
PopCan
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March 16th, 2012 at 4:27:17 AM permalink
Quote: EvenBob

And he admits they stopped paying comps to table game
players, like we didn't know that already.



They're not going to stop comping Table Games players, they're going to stop offering insanely good rules and rebates on loss. I don't know how long it's going to take for casinos to realize what a horrible idea rebates on loss is.

I do second your sentiment on "bye bye Foxwoods." They've abused their exclusivity for far too long and it's time they paid the price.
WongBo
WongBo
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March 16th, 2012 at 6:00:48 AM permalink
Interesting to me that MoheganSun, the Pequots' (owners of Foxwoods) main competition is owned by the same tribe, the Mohegans,
who conspired with the English colonists in 1637 to decimate the Pequot tribe.
I guess history does repeat itself in some strange ways.
In a bet, there is a fool and a thief. - Proverb.
teddys
teddys
Joined: Nov 14, 2009
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March 16th, 2012 at 8:44:03 AM permalink
Good article and worth reading. I would take issue with a couple factual points: (1) Don Johnson did not "gain an advantage" by the casino allowing him to re-split aces. That is only a 0.05% player swing. He also was almost certainly not counting cards. He got his edge through loss rebates. (2) "Skilled slot players" do exist if you count video poker.
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
s2dbaker
s2dbaker
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March 16th, 2012 at 8:51:39 AM permalink
Quote: WongBo

Interesting to me that MoheganSun, the Pequots' (owners of Foxwoods) main competition is owned by the same tribe, the Mohegans,
who conspired with the English colonists in 1637 to decimate the Pequot tribe.
I guess history does repeat itself in some strange ways.

Chief Wyandanch needs a casino built in his honor. Put it in Wyandanch, NY.
Someday, joor goin' to see the name of Googie Gomez in lights and joor goin' to say to joorself, "Was that her?" and then joor goin' to answer to joorself, "That was her!" But you know somethin' mister? I was always her yuss nobody knows it! - Googie Gomez
1BB
1BB
Joined: Oct 10, 2011
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March 16th, 2012 at 9:03:54 AM permalink
Quote: NicksGamingStuff

MGM has tons of money they should chip in more to their Foxwoods Hotel



MGM Mirage licensed its name to the Pequots. This enabled Foxwoods to gain access to MGM's data base and enabled MGM to try to establish a foothold in the northeast. It didn't turn out as expected and the wheels started coming off at Foxwoods right around the time that the MGM addition opened.

MGM Resorts International now seems to be keeping their distance.
Many people, especially ignorant people, want to punish you for speaking the truth. - Mahatma Ghandi

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