In a message dated 11/27/07 3:35:01 PM US Mountain Standard Time,
krauseinvegas@cox.net writes:
···
A Big Snip from the press release<<<<<<
About Marnell Sher Gaming, LLC.
Marnell Sher Gaming, LLC currently owns and operates the Saddle West Hotel
Casino & RV Resort as well as the Edgewater and Colorado Belle casino
resorts in Laughlin, Nevada. On a combined basis, the properties encompass
1,761 employees, 2,535 guest rooms and 138,000 square feet of casino space
with over 2,000 slot machines and 72 table games. Marnell Sher Gaming, LLC
is comprised of a partnership between Saddle West Investors, LLC, led by
Anthony A. Marnell, III, and Sher Gaming, LLC led by Ed Sher.Anthony A. Marnell III is also the Founder, Chairman and Chief Executive
Officer of The M Resort, Spa and Casino, a $1 billion Las Vegas-based casino
resort currently in development on Las Vegas Boulevard South and is
scheduled to open in Spring of 2009.
******
Marnell-Sher bought the Saddle West, what two years ago to get back into the
Nevada casino biz. My guess is it was mainly to get through all the Nevada
regulatory processes for licensing. Anthony Marnell II built and operated the
Rio before selling to HET.
Marnell-Sher has that project, The M casino, on the south strip. Just how
far down is this one? Is it past the South Point?
Marnell-Sher got the keys to the Edgewater and Colorado Belle on June 1st,
2007. It has been interesting to watch their moves on the casino floor and
marketing. They are on Plan "C" already.
The first move was with the slot club. They were "saddled" with the old One
Club from Mandalay Resort Group/MGM-Mirage. They went with a separate, but
equal start-up for their Access Club. You had to get two separate cards, but
with the same number...the old One Club number.
Marketing offers were now for either joint as far as the rooms went. The old
regimes kept things separate. Play at one did not help for the other. Their
promos are similiar in both houses, but once again separate.
On June 1st they wiped out any playable VP on the casino floors. Sure they
mainly wiped-out the old good coin-clunkers. Best games from June 1st to
mid-August were in the 98.5% range like KBKW 7/17/4700 and the bogus Bonus 8/5-30.
Yet they touted a slot card worth 1.2% (.2+.7+.3). They joints turned into
ghost towns. The mail stopped too.
In mid-August regular Bonus 8/5 showed-up all over the houses from nickels to
$5. Then quarter 100% games on new comfy TITO Game Kings appeared.
The Labor Day weekend concluded their first summer long promo. Since then
their have been several low roller drawings and promos, which really clogs up
the slot club lines. On Nov 1st the slot club banked benefits were slashed.
Marnell-Sher in June immediately shut-down restaurants and limited buffet
hours. They were foodies at the Rio, so there was optimism that offerings were
going to be upgraded. But now the rumors are of outsourcing the restaurant
spaces to chains.
The booze selection has improved at the bartops. They can comp alot better
stuff now while you play quarter Bonus 8/5-progressives. Their drawings and
tourneys have been well run. Marketing mail has returned for the strong players.
It has been interesting to watch. Can't wait to see what happens at Rose and
the Strip.
BS
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