I'm hearing rumors that the Golden Nugget wants to buy Binions. Is this
true? Bill
Is Binions being sold?
--- In vpFREE@yahoogroups.com, "williamknght" <williamknght@...>
wrote:
I'm hearing rumors that the Golden Nugget wants to buy Binions. Is
this true? Bill
Other than maybe the Plaza, Binions has the most land downtown.
Given the fact that GN's parent seems to have deep pockets...and are
apparently willing to commit to long range goals, rather than an
immediate financial return...it may not be too far fetched.
The key is how successful GN's marketing strategy will be. Will they
be able to attract and retain middle class tourists that are willing
to pay for the rooms, restaurants, shows etc. Given their cutbacks
on decent VP and the BJ game they offer, you know that they are not
attracting serious players.
IMHO, they are trying to become a Strip property, without having the
benefit of actually being on the Strip. If they can use the Binion's
land to develop a destination-type resort, with an attraction to
lure the customers...and lure the customers into the property, not a
volcano or dancing waters, where one never has to enter the
casino...it may be do-able.
One must also consider the office/convention/showroom buildings that
are planned for construction next to the World Market buildings. My
understanding is that there will be a total of 7 or 8 buildings.
Having a first-class "resort" only a short ride away will bode well
for the GN...they may be able to justify 4,000 rooms...and not just
rely on the tourists. Business customers are more more willing to
pay higher room rates...just give them some amenities, such as high
speed internet access, coffee maker in the room, newspaper delivered
in the morning, etc.
Another factor is the losses MTR Gaming is experiencing with
Binions. They have sold the Raceway Casino in northeast LV and it
looks like they have their plate full with their "racinos" back
east. GN may be able to strike a bargain with MTR. Lets face it,
Binions has nothing to attract the players...and the last few times
I've been in the joint, its pretty empty. No more World Series of
Poker, no Horseshoe name, no decent VP (above $.25), no decent BJ,
no nuthin'!
I'm sure Mayor Oscar Goodman would love it...and try and sell
Neonopolis to the GN as well!
Don the Dentist
Looks like Binions is being sold to the owner of the Four Queens for
just $32 million. I think Terry Caudill got a bargain.
Don the Dentist
--- In vpFREE@yahoogroups.com, "williamknght" <williamknght@>
wrote:
>
> I'm hearing rumors that the Golden Nugget wants to buy Binions.
Is
this true? Bill
Other than maybe the Plaza, Binions has the most land downtown.
Given the fact that GN's parent seems to have deep pockets...and
are
apparently willing to commit to long range goals, rather than an
immediate financial return...it may not be too far fetched.The key is how successful GN's marketing strategy will be. Will
they
be able to attract and retain middle class tourists that are
willing
to pay for the rooms, restaurants, shows etc. Given their cutbacks
on decent VP and the BJ game they offer, you know that they are
not
attracting serious players.
IMHO, they are trying to become a Strip property, without having
the
benefit of actually being on the Strip. If they can use the
Binion's
land to develop a destination-type resort, with an attraction to
lure the customers...and lure the customers into the property, not
a
volcano or dancing waters, where one never has to enter the
casino...it may be do-able.One must also consider the office/convention/showroom buildings
that
are planned for construction next to the World Market buildings.
My
understanding is that there will be a total of 7 or 8 buildings.
Having a first-class "resort" only a short ride away will bode
well
for the GN...they may be able to justify 4,000 rooms...and not
just
rely on the tourists. Business customers are more more willing to
pay higher room rates...just give them some amenities, such as
high
speed internet access, coffee maker in the room, newspaper
delivered
in the morning, etc.
Another factor is the losses MTR Gaming is experiencing with
Binions. They have sold the Raceway Casino in northeast LV and it
looks like they have their plate full with their "racinos" back
east. GN may be able to strike a bargain with MTR. Lets face it,
Binions has nothing to attract the players...and the last few
times
···
--- In vpFREE@yahoogroups.com, "dds2124" <dds6@...> wrote:
I've been in the joint, its pretty empty. No more World Series of
Poker, no Horseshoe name, no decent VP (above $.25), no decent BJ,
no nuthin'!I'm sure Mayor Oscar Goodman would love it...and try and sell
Neonopolis to the GN as well!Don the Dentist
LVSun: MTR to unload Binion's for $32 million to owner of Four Queens
<a href="http://tinyurl.com/39d5rh">
http://tinyurl.com/39d5rh</a>
···
On 27 Jun 2007 at 21:46, dds2124 wrote:
Looks like Binions is being sold to the owner of the Four Queens for
just $32 million. I think Terry Caudill got a bargain.
Don the Dentist
Looks like Binions is being sold to the owner of the Four Queens
for
just $32 million. I think Terry Caudill got a bargain.
Don the Dentist
Here's what I posted at the LVA website...
The sales price of $32 million seems a bit on low side...I think
that MTR just wanted to get rid of it. There is a lot of property
with the casino and the two parking garages.
Lets see what happens...here's a theoretical...what would you do?
Spend millions to totally upgade the entire property or focus in on
the gaming side of the business first?
I think they'll focus on the gaming first. Binions needs to get
customers in the door and then keep them. Given that the 4Q has a
good slot club, with comps and cash back, and has a good assortment
of VP (including 10/7 DB with a progressive royal at both $.25 and
$1), I think they will not keep the existing Binions inventory of
bad paytables. The 4Q also has 3 to 2 BJ at all their games...not of
that 6/5 bulls**t. I think they can turn the gaming piece around
pretty quickly...especially with the changes at the GN, where the VP
is terrible and the BJ is even worse.
Terry Caudill (owner of the 4Q) has been successful in his other
ventures, so I see no reason that he won't be successful here.
Don the Dentist
···
--- In vpFREE@yahoogroups.com, "dds2124" <dds6@...> wrote:
Guess MTR FOUND OUT your not in west va toto,i'm so happy they are selling out they started by screwing all us old players out of comp accounts MTR=RIP
···
vpFae <vpFae@Cox.net> wrote: On 27 Jun 2007 at 21:46, dds2124 wrote:
Looks like Binions is being sold to the owner of the Four Queens for
just $32 million. I think Terry Caudill got a bargain.
Don the Dentist
LVSun: MTR to unload Binion's for $32 million to owner of Four Queens
<a href="http://tinyurl.com/39d5rh">
http://tinyurl.com/39d5rh</a>
---------------------------------
Don't get soaked. Take a quick peak at the forecast
with theYahoo! Search weather shortcut.
[Non-text portions of this message have been removed]
Terry Caudill (owner of the 4Q) has been successful in his other
ventures, so I see no reason that he won't be successful here.
Don the Dentist
REPLY: I hope so. On my recent LV trip, I stayed at the 4Queens for
the first time in about 15 years. I was impressed by the overall
product, escpecially the VP offerings. I wish more operators
understood that they don't have to win everytime from every player on
every machine.
By downtown standards the 4Q's general ambience and the renovated rooms
were much better than I expected when I booked my reservation.
I hope that Caudill proves that you can make more money this way than
by trying to grab every last penny "right now."
The GMan
···
--- In vpFREE@yahoogroups.com, "dds2124" <dds6@...> wrote: