(BR downgrades)
MGM Mirage's market cap is down 53% the last 8 months. Frankly, it
couldn't happen to a nicer bunch of guys. I'm known to be pretty
arrogant, but I can't touch them on my best day.
Their marketing does go for snob appeal...I love this classic, "even
though you've left, you know you've arrived" (and I would add,...you
redneck hoosier sucker!"
Frankly, BR's Slot Director could use some Prozac. The entire VP
inventory, which is the worst on the Gulf Coast by a country mile, has
been in a continual state of downgrade the last several months. You
just haven't noticed because you were only playing the DDB. But even
their 8-6 Progressives (with a .5% meter) got slashed to 7-5. This
tells me they have no clue what they're doing over there, but the
stupidity pendulum swings both ways. They obviously feel offering 98%
VP is too rich for them.
The reality is that in these times, you don't attract repeat business
by trying to bust your customers every single time they come in to
play. It's a competitive market, not the greatest for VP, but IP, Hard
Rock, Island View, and even Grand and Treasure Bay offer a good
product. And let's not forget the 5-star offerings of Harrah's NOLA
down the road.
I don't think the 10-6 will return, that was obviously a mistake, but
I think in 6 months' time, things will become more favorable there.
···
--- In vpFREE_Biloxi@yahoogroups.com, "vpFae" <vpFae@...> wrote: