http://www.detnews.com/apps/pbcs.dll/article?AID=/20090302/METRO/903020320/&imw=Y
I've mentioned this in the past about the Detroit market...player
reinvestment there has always sucked. Now it's worse.
You can make a little money in Detroit, Motor City had been good for
almost two years with $5 9-6 Jacks/NSUD and a 1% meter, but the meter
has been cut back to .5% and the cb has been cut to about .25 as well
(was .425% at one point in time). Lower stakes players had FP games at
Greektown and PE at Windsor, but the top mailer was very poor usually
and multiple points days (for cb) were rare. It was a goldmine back in
'98 when they first opened-quite a few bankrolls were built there, but
those days are long gone.
Mostly, it's the sign of the times. I'm now seeing weasel factor
stuff, as a friend of mine refers to it as, at Harrahs properties-you
can criticize them all you want, but they played straight up. None of
the BS you see with some tribal properties (Barona, et al) or some
Vegas MGM Mirage properties. Rule of thumb previously was 20% of theo,
I think you'll be looking at closer to 10% for the foreseeable future
at most properties (an important Harrahs property, and I'm not going
to say which one, will likely remain at 20% PI)