****Forwarded Message****
···
From: "WP SF" <paladingamingllc@yahoo.com>
Date: Mon Mar 1, 2010 1:04 am
Subject: Re: NV real estate was "I Just Have to Say It"
You have the issues confused.
First, I tend to write from a historical and anecdotal perspective. I try to
keep it more objective than subjective.
Second, the dissemination of information is a different ballgame from the
financial crisis. I have said many a time if it wasn't Bob and Jean, it'd be
someone else. You just have to understand this type of person, one who wants to
play "teacher", well, there's just too much going on in the personality profile
I can't respect. Not to mention their likely talent level as an AP. If they were
really that good, they wouldn't have time to write. As such, the problem is with
their egos, more than anything else.
Video poker has definitely become the bogeyman in the casinos these days. If the
casinos were making money, the culture likely wouldn't change, but it's
something you're going to have to deal with. As skill of play has evolved, so
has the ability of the casino slot to department to protect the games.
All the majors, except for Steve Wynn, Jack Binion (Wynn's partner on a number
of projects) and Stanley Ho (who probably will live another 100 years lol) have
some serious financial problems: Harrahs and Stations went private at the
absolute top of the market, and may be worth 1/5 of what the went private for,
MGM Mirage just made a deal to renegotiate their bonds, at near loanshark rates,
Boyd blew up the Stardust, which was a huge moneymaker for them, to build
Echelon, which may open before 2020, Pinnacle (fka Casino Magic) owns a parking
lot in AC which may or may not be a site of a casino sometime this century (I
tend to doubt it), and let's not forget Sands LV, who is in serious trouble with
the Chinese government over their unfinished Macau casino (the license of which
may end up reverting to Dr. Ho, pretty good deal for him). Let's also not forget
Morgans Hotel Group, which operates the LV Hard Rock. Let's also not forget
Crown, which had to pay out what was it, $50M to get out of buying Cannery
Casinos, and is losing money on their Macau casino partnership with Stanley Ho.
So, basically, the culture is sort of like they almost can't afford to have any
winners. I've never seen an environment so player-hostile ever. I could also
share a few stories with you which only prove that they haven't figured it out
yet, they're just faking it. But it's fairly scary that the people they pay
large sums of money every year to figure it out have no idea where to even
begin, and that's where the real problem lies. The one thing they have figured
out is to blame those pesky video poker players for all that ails the casino,
and they have guru status annointed upon them. It's utterly ridiculous, yes, but
it's that same lack of intellectual forethought which caused you the favorable
marketing situations in the first place.
As for that recreational player thingie...well, good luck with that one. You're
fighting human nature there.
Like I said recently, if VP were a baseball game, it would be the top of the
ninth, and Mariano Rivera is warming up in the pen.
--- In vpFREE@yahoogroups.com, "Starr" <vpstarr1@...> wrote:
Jean Scott does not advocate quitting your day job! Many folks, however,
still make enough in winnings and comps to SUPPLEMENT the income from their job
or retirement, and even though the pickings are slim, the plays are still out
there for that purpose. I'm SO tired of hearing about the "good ole days" on
this message board and how this one or that one "ruined" it. You would think
that the entire world financial recession was the fault of a couple of writers
here in LV, were you to take to heart all that has been recently written on this
forum! I would much rather see this become more of a positive forum where those
of us who play for enjoyment, comps and a bit of vacation funds can play to our
advantage, but not out of greed. I would like for us to talk about the game and
the strategy and not about the people. Today will be tomorrow's "good ole days"
so lets make the most of it!
--- In vpFREE@yahoogroups.com, TedChee@ wrote:
>
> A few years ago, I remember talking to a fellow who had moved to LV & been
> there a year. Both he & wife had quit good jobs elsewhere to buy cheaper,
> bigger house in LV & supplement income with gambling. The winning streak
> that they'd been on before LV had stopped not long after their arrival.They
> were now stuck & didn't have the resources to move back. This was before
the
> crash in housing prices.
>
> Only a few people of the many that try it have what it takes to make the
> transition. HAVE A PLAN that will actually work if luck turns or the
> lifestyle turns out to be tiresome. Don't buy a house in NV just because
it's
> cheap & you don't see much downside risk compared with your area. Do you
know
> that NV has led the nation in foreclosures for 37 months? and Las Vegas is
> always at the bottom when you google foreclosures? Maybe the market can't go
> down much further but how would you feel about selling into a market
> dominated by cheap foreclosures? You can sit on it & wait till the
foreclosure
> inventory runs out & in most other areas it might be a year or two but LV
> could be 5 - 10 yrs. Money-under-the-mattress has a very good chance of
> beating LV real estate during that time frame.
>
> _http://www.marketwire.com/press-release/US-Foreclosure-Activity-Decreases-1
> 0-Percent-January-According-RealtyTrac-US-Foreclosure-1115617.htm_
>
(http://www.marketwire.com/press-release/US-Foreclosure-Activity-Decreases-10-Pe\
rcent
> -January-According-RealtyTrac-US-Foreclosure-1115617.htm)
>
>
>
>
> In a message dated 2/23/2010 10:28:20 P.M. Pacific Standard Time,
> vpFREE@yahoogroups.com writes:
>
> _Re: I Just Have to Say It _
>
(http://groups.yahoo.com/group/vpFREE/message/105475;_ylc=X3oDMTJzcXBxOWswBF9TAz\
k3MzU5NzE1BGdycElkAzQ2NDEwMTcEZ3Jwc3BJZAMxN
> zA1MDY1NzMyBG1zZ0lkAzEwNTQ3NQRzZWMDZG1zZwRzbGsDdm1zZwRzdGltZQMxMjY2OTkyODk2)
>
> Posted by: "WP SF" _paladingamingllc@ _
> (mailto:paladingamingllc@?Subject= Re:%20I%20Just%20Have%20to%20Say%20It)
_paladingamingllc
> _ (http://profiles.yahoo.com/paladingamingllc)
> Tue Feb 23, 2010 8:48 pm (PST)
>
>
> ....., but I think I'm going back to the day job next year. Because this
> deal is pretty much over.