How bad is Nevada gambling doing?

**TheCentaur** · 01-13-12, 02:47 AM

One trend that comes to mind is the gradual thievery in BJ rules. No resplitting aces, then dealer hits a soft 17, then no double after splits, then double only 10 or 11, and NOW BJ pays 6:5 on lower limit 6 deck BJ. Ridiculous

**wtf** · 01-13-12, 02:53 AM

washoe county lost 44 billion is that a typo

**FourLengthsClear** · 01-13-12, 02:59 AM

Originally posted by wtf

washoe county lost 44 billion is that a typo

I would hope so!

In terms of the overall article. Of course it is possible that casinos lose money. The costs of running any business continue to rise with all sorts of new health, safety and environmental regulations to comply with every year.

Surprising that they are making losses based on 90% occupancy rates though.

**ChuckyTheGoat** · 01-13-12, 03:01 AM

Originally posted by TheCentaur

One trend that comes to mind is the gradual thievery in BJ rules. No resplitting aces, then dealer hits a soft 17, then no double after splits, then double only 10 or 11, and NOW BJ pays 6:5 on lower limit 6 deck BJ. Ridiculous

Centaur, you are right on the $$.

People will tolerate a little of the cutback on rules. But even a mid-level player knows when he's getting reamed w/ no lube. The 6-5 Blackjack was an unconscionable move. No one likes to get pounded and know they have no chance.

The casinos did it to themselves. What was wrong w/ taking a small chunk of a huge pot? Isn't that better than a bigger chunk of a small pot which will eventually reduce to zero? Fukk u, Vegas.

**FindTheLock** · 01-13-12, 03:01 AM

the hitting soft 17's caused me to stop playing. I can't stand losing with 19 after the dealer hits a soft 17 and gets a 3 or a 4. Plus lower payouts of 21

**FindTheLock** · 01-13-12, 03:05 AM

hitting S17 is only .2 percent but that's .2 percent more than I want to give them.

**ChuckyTheGoat** · 01-13-12, 03:35 AM

Originally posted by FindTheLock

hitting S17 is only .2 percent but that's .2 percent more than I want to give them.

Lock, can still find the S17 at a few spots around the USA.

I believe S17 in Vegas is exclusively used at high-limit tables, like $50 or $100 minimum.

Yes, I love the S17. Makes a big difference over time.

**FindTheLock** · 01-13-12, 03:48 AM

woops

**MonkeyF0cker** · 01-13-12, 04:06 AM

Originally posted by TheCentaur

One trend that comes to mind is the gradual thievery in BJ rules. No resplitting aces, then dealer hits a soft 17, then no double after splits, then double only 10 or 11, and NOW BJ pays 6:5 on lower limit 6 deck BJ. Ridiculous

Stay away from party pits and you can still find some decent games here.

**MonkeyF0cker** · 01-13-12, 04:09 AM

Originally posted by wtf

washoe county lost 44 billion is that a typo

LOL. Yeah. It's gotta be.

**MonkeyF0cker** · 01-13-12, 04:14 AM

Originally posted by FourLengthsClear

I would hope so!

In terms of the overall article. Of course it is possible that casinos lose money. The costs of running any business continue to rise with all sorts of new health, safety and environmental regulations to comply with every year.

Surprising that they are making losses based on 90% occupancy rates though.

But the casinos posted an overall loss due to increased depreciation, higher interest payments and other administrative expenses due to such factors as write-downs.

The casinos are still leveraged to the hilt from the economic collapse. It will take some time before they start turning profits again.

**Ian** · 01-13-12, 05:02 AM

The casinos themselves made money. The loss came from the debt incurred by the gaming companies expansion prior to the depression.

**JBC77** · 01-13-12, 06:08 AM

With real unemployment running over over 20% (not the phony government stats) it could be more than a decade, if ever, before Vegas has any sort of real recovery. It was ground zero in the mortgage fraud game. Lets be real. The majority of the jobs are casino based. In bad times there isn't anything enticing people to pack up and start a new life in the desert. To boot, you have over levered casinos that are struggling just to meet debt payments. Of course they are going to cut down comps and try to rape their players. Think about the desperate nature of what they are doing with black jack. Ask yourself how bad things really must be to tilt the odds like that on people. Vegas is a dying town boys and will be for the foreseeable future......

**SportsMushroom** · 01-13-12, 06:22 AM

errrr, Im guessing none of you studied accounting or finance?

it clearly says the OVERALL loss is due to depreciation and write downs

so they lost money because of an accounting concept, depreciation and write downs are not only intangible concepts, they are also subjective and the accountant makes them whatever he wants them to be

**jjgold** · 01-13-12, 06:25 AM

When you go it sure does not seem like Vegas is slow

**Sportsbetting123** · 01-13-12, 07:01 AM

This has been typical the last few years. So many mismanaged companies and too much expansion.

**ChuckyTheGoat** · 01-13-12, 08:40 AM

Originally posted by SportsMushroom

errrr, Im guessing none of you studied accounting or finance?

it clearly says the OVERALL loss is due to depreciation and write downs

so they lost money because of an accounting concept, depreciation and write downs are not only intangible concepts, they are also subjective and the accountant makes them whatever he wants them to be

Fair enuf. But consider this sentence:

"Money won from gamblers comprised a record low share of the Nevada casino industry’s total revenue generated during the past fiscal year."

I get the sense that Mgmt just doesn't like risk, nor do they like the concept. They are so hard-headed that they don't even want to think about one person clearing a small profit. If they loosened up the 21, they'd get more action and customers would feel like they have a fair shot. Why put the vacuum cleaner to everyone's wallet and discourage people from making a return trip? Better practice would be to have the consumer experience a winning trip once in a while, only to have him salivating to come back.

**thebestthereis** · 01-13-12, 08:42 AM

Bring back massive free drinks, they chopped that. Once this happens they will prosper, find something else to chop.

**stevenash** · 01-13-12, 08:49 AM

I thought most of the strip casino's brought back the 3:2 blackjack?

**MonkeyF0cker** · 01-13-12, 09:02 AM

Originally posted by ChuckyTheGoat

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Fair enuf. But consider this sentence:

"Money won from gamblers comprised a record low share of the Nevada casino industry’s total revenue generated during the past fiscal year."

I get the sense that Mgmt just doesn't like risk, nor do they like the concept. They are so hard-headed that they don't even want to think about one person clearing a small profit. If they loosened up the 21, they'd get more action and customers would feel like they have a fair shot. Why put the vacuum cleaner to everyone's wallet and discourage people from making a return trip? Better practice would be to have the consumer experience a winning trip once in a while, only to have him salivating to come back.

Uhh. Notice the word SHARE.

It just means that tourists are spending more on other services/entertainment. That has been the trend for years since most casinos have high class restaurants, nightclubs, spas, etc. in them these days.

**Big Bear** · 01-13-12, 09:02 AM

many in America can barely pay for rent ofcourse most dont have the money to go to nevada and gamble.

**ChuckyTheGoat** · 01-13-12, 09:21 AM

Originally posted by MonkeyF0cker

Uhh. Notice the word SHARE.

It just means that tourists are spending more on other services/entertainment. That has been the trend for years since most casinos have high class restaurants, nightclubs, spas, etc. in them these days.

I understand this. That's sort of my point. Vegas income coming from entertainment and more standard tourist items. Less and less from gaming.

My opinion is that there's no great reason for this, other than mgmt having their head in the sand and not identifying GOOD risks. Just a little intelligence from Mgmt would have them doubling and tripling their gaming revenue.

**Thor4140** · 01-13-12, 09:21 AM

Nevada sportsbooks see 516% increase in football winnings

<table border="0" cellpadding="0" cellspacing="0" align="right"> <tbody><tr> <td colspan="3" height="25" valign="middle" align="left"> By DAVID PAYNE PURDUM </td> </tr> </tbody></table>

After a hot start to the season, November was nasty for football bettors.

Nevada sportsbooks won $10.3 million on football bets in November, a 516-percent increase from last November, according to the Nevada Gaming Control Board’s revenue numbers released Wednesday.

“After the bath we took on favorites early in the season, we were due for a turnaround,” said Todd Fuhrman, senior sports analyst for Caesars Palace. “And it did in November, big time.”

Books also saw a huge coinciding boost in profits from parlay cards, which brought in $4.1 million in November, an increase of 227 percent.

The big increases helped offset the NBA lockout in November. College basketball bets brought in $2.1 million in the month, a 46.87 percent decrease from last year, when there were November NBA games.

While November was bad, football bettors improved overall during September, October and November. Nevada won $48.5 million during the three months of college football’s regular season. That’s a decrease of 5.59 percent from 2010.

Here are a few more notable statistics from the Gaming Control Board:

• Total gaming win at Nevada casinos from Dec. 2010 through Nov. 2011 was $10.6 billion. More than 60 percent of that was generated by slots ($6.8 billion).

• During that same time period, Nevada sportsbooks won $137 million, a 12 percent decrease from last year.

• Only two table games produced more than $1 billion in winnings for Nevada casinos from Dec ’10-Nov ’11: Blackjack & Baccarat.

**Hotdiggity11** · 01-13-12, 09:41 AM

Some casinos are no different from FTP. Want to make all their money now instead of steadily making it over the long run. Ends up biting them in the ass.

**MonkeyF0cker** · 01-13-12, 10:09 AM

Originally posted by ChuckyTheGoat

I understand this. That's sort of my point. Vegas income coming from entertainment and more standard tourist items. Less and less from gaming.

My opinion is that there's no great reason for this, other than mgmt having their head in the sand and not identifying GOOD risks. Just a little intelligence from Mgmt would have them doubling and tripling their gaming revenue.

LOL. You think its unintentional that all of these clubs, shows, restaurants, spas, stores, etc. are here?