Me? I would go to anyplace other than HET!
The better question is how
long can they hold on before a Chapter 11 filing?
Vegas, and HET in particular, are the poster children
for the leveraging frenzy of the past few years. Did
these guys really think they would be able to sustain
that level of growth in the inevitable economic
downturn?
Now that even the popular press is declaring this to
be the worst depression since, well the last one, what
will happen to an outfit like HET? They apparently
built their business model on an unsustainable revenue
stream and will probably forced to default on their
massive debt. Then what?
Personally, I think this would be a good thing. After
the coming shakeout competition may be restored to the
Vegas "industry". Someone will get these places for
pennies on the dollar and then be able to provide a
more competitive product. As it stands HET and
Stations backs are against the wall - huge debt
payments in the face of dwindling revenue. They only
have a few options, the main one being cut everything
to the bone and hope it gets better. Of course as
player benefits shrink the player gets pissed and
either goes somewhere else, or cuts way back on visits
to the casino, which is my case.
Harrahs has always marketed to the middle - Caesars
being the exception. The middle is where the squeeze
will be the greatest as the middle class tourist stays
closer to home. The high end joints will probably be
okay as most of the real money doesn't feel the
economic pain the middle class will. Something has to
give, and my bet is it will be the $5000 weekends,
clubs, $250 bottles, etc. that will really feel it.
I just hope I can get all my comps used up before the
end arrives.
Cheers!
Jigger
"On some days, my head is filled with such wild and
original thoughts that I can barely utter a word. On
other days, the liquor store is closed."
"The closest I ever got to a 4.0 in school was my
blood alcohol content."
"You don't appreciate a lot of stuff in school until
you get older. Little things like being spanked every
day by a middle aged woman: Stuff you pay good money
for in later life."
···
--- vpcostsmoney <vpcostsmoney@gmail.com> wrote:
I'm mostly a quarter player, although on occasion
I've gone up to $1
on bonus and double bonus at some casinos if they
were full pay.
Unfortunately for people here in the LV area who do
not want to go to
the higher levels, play at the Harrah's group of
casinos does not
afford them full pay games below $5. This
discussion on 1 coin vs 5
coin play, and the fact that the estimated loss is
about the same for
each, has me thinking that if I intend to continue
my Diamond status
it would be best for me to play 1 coin on a $5 full
pay JoB or BP game
(even if the SF were shorted to 239) rather than
play, say, a 7/5 BP
progressive or STP game which would increase the
expected return
slightly but still make it below the $5 game. Any
comments?
------------------------------------
vpFREE Links:
http://members.cox.net/vpfree/Links.htm
Yahoo! Groups Links
