Benny didn't have to compete against the megaresorts on the strip.
He died the year the first one opened - the Mirage. Every resort
that's opened since then has been another nail in the coffin of
downtown. Not one downtown casino is "knocking them dead." Barrick
came in with big plans for the old Gaughan properties, but after the
cash flow reality check, those plans are out the window and they had
to be bought out by their junior partner. How about those two guys
who came into the Golden Nugget with big plans? How long did they
last, a year or so? Downtown is a tough market, period.
I used to live downtown. But now it's in sad shape. Here's the
number one most asked question downtown: Got any spare change?
Here's the second most asked question: Got a cigarette? The last
time down I finally said to hell with downtown and stayed at Budget
Suites behind the Stardust for 6 weeks. I walked over to Wynn
everyday to play poker and was asked for a cigarette once, never got
panhandled.
Did Becky play Jack or did Jack play Becky? He wasn't back east
even 10 years and sold to Harrah's for 1.4 Billion with only 600
million of it debt. Do you think he could make that kind of money
with the Horseshoe? He just let her think she was pushing him out.
In the end, he got the goldmine she got the shaft.
Downtown's only saving grace is some good video poker.