Station Casino goes bankrupt

Willie Bee · 03-19-09, 03:48 PM

They have been building and expanding far beyond reason for a while there in the desert overall, not just the casinos. Market correction.

daggerkobe · 03-19-09, 04:01 PM

I went to Vegas a week after 9/11 and it was a ghost town. Probably the same now.

But it'll return to business as usual once Obama fixes Dumbya's mess.

thecarter · 03-19-09, 04:15 PM

I just arrived in vegas for march madness. This is my 3rd trip in the past 2 months or so.

For all the talk of vegas being dead, it still seems pretty damn busy out here. Granted I usually only go weekends with some sort of event going on, but my last trip I missed my sunday flight and was wandering around the bellagio looking for ap lace to eat. Had no reservations and struggled to find any place that could seat me.. I ended up walking across the street to Caesars where just about every expensive restaurant was near full capacity too. Night clubs and strip clubs still seem packed, and i observe the same amount of people throwing money around on drinks, bottle service, etc.

My personal observation is the crowds are still pretty good and people are willing to spend on food/enterainment. But they must be cutting down on gambling significantly. It's been pretty easy to find table games even on busy weekends at the high end casinos with $10 limits or so.. i remember a few years ago if you were at the bellagio on a weekend every blackjack table would be $25 or higher with maybe one lower end table that had a big crowd around it of people hoping to get in.

Mac4Lyfe · 03-20-09, 01:27 AM

Originally posted by thecarter

I just arrived in vegas for march madness. This is my 3rd trip in the past 2 months or so.

For all the talk of vegas being dead, it still seems pretty damn busy out here. Granted I usually only go weekends with some sort of event going on, but my last trip I missed my sunday flight and was wandering around the bellagio looking for ap lace to eat. Had no reservations and struggled to find any place that could seat me.. I ended up walking across the street to Caesars where just about every expensive restaurant was near full capacity too. Night clubs and strip clubs still seem packed, and i observe the same amount of people throwing money around on drinks, bottle service, etc.

My personal observation is the crowds are still pretty good and people are willing to spend on food/enterainment. But they must be cutting down on gambling significantly. It's been pretty easy to find table games even on busy weekends at the high end casinos with $10 limits or so.. i remember a few years ago if you were at the bellagio on a weekend every blackjack table would be $25 or higher with maybe one lower end table that had a big crowd around it of people hoping to get in.

The big casino's still get crowds on the weekends but even they are hurting during the week. They are also not attracting as many whales as they use to, especially from the many international players. These guys portfolios have been hammered and they are not in the same positions to blow money like they were 10 years ago. The Asian countries are hurting as well so your not getting those clients.

Whats surprising is that the casinos have had to drop their table limits but they haven't lowered their room rates nor food. This has hurt them IMO because people can't afford to visit when rooms are going for $3 bills a night and dinner is $50 pp easily.

I have several friends who work in various casinos and they are all being impacted. One waitress had her hours cut in half to part time w/o warning. This allowed the casino to not have to pay her medical. She is now working only 20 hours a week and has no insurance. It's very scary out there right now.

wtf · 03-20-09, 01:32 AM

i went to macau last weekend

all the hotels still charge the same room rates

and the streets were packed, i do not go to casinos so i dont know if they were full

would have thought rooms would be reduced but no, maybe it is not REALLY that bad

MonkeyF0cker · 03-20-09, 01:34 AM

Room rates have gone down tremendously here. Not sure where you get that info from, Mac. You can get a room at Binions for $15/night on weekdays right now...

MonkeyF0cker · 03-20-09, 01:37 AM

There are also places like Excalibur that are offering 2 for 1 buffets and all-day buffet deals...

Mac4Lyfe · 03-20-09, 01:46 AM

I'd rather sleep in a cardboard box than stay at Excalibur.

I was at Mandalay Bay last month and the rooms were $350/nt. The Venetian was $300. My buddy is at the Wynn this weekend and he's paying $400 a night.

Yes you can get some great deals if you don't mind being off the strip but the weekends on the strip is still priced too high. You'd be hard pressed to find a room for less than $200. I spent $225/nt at the Sahara back in Sept which is ridiculous. It is also hard to find cheap restaraunts in the strip hotels. Ceasars buffet is like $60, Venetian is about the same ($35 for breakfast even) and most of the signature hotel restaraunts have gone up.

RogueJuror · 03-20-09, 01:47 AM

Originally posted by Mac4Lyfe

I'd rather sleep in a cardboard box than stay at Excalibur.

Why?

Mac4Lyfe · 03-20-09, 01:52 AM

Originally posted by MonkeyF0cker

Room rates have gone down tremendously here. Not sure where you get that info from, Mac. You can get a room at Binions for $15/night on weekdays right now...

Cheapest price I see for Binions is $60...

Plus if I bring my wife, she doesn't stay in any hotel that doesn't have room service and a spa. I stayed at Binions before (prefer the strip) but she's not. She's bougie as hell. It's pretty hard to find a casino on the strip with a spa on the cheap.

MonkeyF0cker · 03-20-09, 01:53 AM

Well of course room rates are going to be high this weekend. It's one of the busiest weekends in Vegas. Rooms at the MGM start at about $80/night on the weekdays right now. There was a time here that you couldn't stay at the Bellagio for less than $300/night. They're at about $120 on the weekdays now.

Mac4Lyfe · 03-20-09, 01:54 AM

Originally posted by RogueJuror

Why?

Too many kids and I could never find the correct elevator to get to my room. Walking around in circles to find an elevator is crazy. I don't stay at MGM anymore either after I had the last room on a floor. Their floors are the longest floors in the history of hotels. You need to bring a bike to get to your room.

MonkeyF0cker · 03-20-09, 01:57 AM

I just looked last week on Expedia and Binions was $19.95 per night with one night free for a four day stay...

Mac4Lyfe · 03-20-09, 01:57 AM

Originally posted by MonkeyF0cker

Well of course room rates are going to be high this weekend. It's one of the busiest weekends in Vegas. Rooms at the MGM start at about $80/night on the weekdays right now. There was a time here that you couldn't stay at the Bellagio for less than $300/night. They're at about $120 on the weekdays now.

COME ON... What coupon are you using... LOL

Where are you getting those rates??? I don't see those rates online.

MonkeyF0cker · 03-20-09, 01:59 AM

There were quite a few hotels in the $50/night range. You can also call Hooters directly and get rooms from them for $29.99 on weekdays.

MonkeyF0cker · 03-20-09, 02:08 AM

Originally posted by Mac4Lyfe

COME ON... What coupon are you using... LOL

Where are you getting those rates??? I don't see those rates online.

Expedia. Don't expect those rates on weekends, especially busy ones. It's still considerably busy on the weekends here.

Mac4Lyfe · 03-20-09, 02:17 AM

Originally posted by MonkeyF0cker

I just looked last week on Expedia and Binions was $19.95 per night with one night free for a four day stay...

That's not much of a special. Binions been priced low for years. Love the casino but wouldn't stay there. I don't go to Vegas to stay in a $100/night hotel.

I can get comped at most casinos on the strip. I use to come about every 3 weeks. I don't really care about paying $300-400 a night for a room thats close to an average bet for me in Blackjack. I'm not trying to brag but my point was that the prices are too high. The major spots are still $250+ a night. These hotels have inflated prices over the past few years and now that the economy is tanking, they've come down some but they are still higher than what they were 5 years ago. Nevada and Arizona both became like California where everything is expensive. Those markets are over priced and people are now feeling the pinch.

For most people $300/nt is too high. You can always find food specials but usually not in those hotels. I think a lot of people end up deciding to stay home because the airfare, hotel, food is too much. Many people end up doing day trips to casino's close by instead.

Mac4Lyfe · 03-20-09, 02:25 AM

Originally posted by MonkeyF0cker

Expedia. Don't expect those rates on weekends, especially busy ones. It's still considerably busy on the weekends here.

You are correct... There are some very good weekday rates. I haven't been checking much in the last couple of months. They must have just recently reduced them. Good deal. I didn't even notice because I've probably been putting in weekend dates.

Only problem is most of the good tail is on the weekend

reno cool · 03-20-09, 02:46 AM

The rooms are cheap, you need to shop around better. However, this place is still way too busy. Vegas doesn't deserve the business it gets. It's way overhyped, the good plays and deals are few and far between. They can start by expanding some roads, the traffic is horrible. They can't expect to fool all of the people all of the time.
The stations are shitholes. They're huge. But they offer nothing different.

wtf · 03-20-09, 02:51 AM

Originally posted by reno cool

The rooms are cheap, you need to shop around better. However, this place is still way too busy. Vegas doesn't deserve the business it gets. It's way overhyped, the good plays and deals are few and far between. They can start by expanding some roads, the traffic is horrible. They can't expect to fool all of the people all of the time.
The stations are shitholes. They're huge. But they offer nothing different.

I lived in vegas for about a year, this place is a joke compared to asia.

used to love those lame commercials "what happens in vegas" what is going to happen there besides your wallet getting emptied? have more fun in buffalo probably, certainly in 20 different cities in asia for sure.

Mac4Lyfe · 03-20-09, 08:36 AM

^^^ Funny you said that. My wife's family are going on a vacation (Semi family reunion) and originally they wanted Vegas but decided on Niagara Falls. Much better deal for the group and there's probably much more to do.

I've never been to Asia. Any recommended places, hotels, etc.?

JBC77 · 03-20-09, 12:15 PM

Originally posted by daggerkobe

I went to Vegas a week after 9/11 and it was a ghost town. Probably the same now.

But it'll return to business as usual once Obama fixes Dumbya's mess.

Stop drinking the kool aid son. We have a president who now appears on late night comedy shows and makes fun of people with disabilities. The guy is a f!@#ing joke and he's not even calling the shots.....his wall street lobbyist cabinet is along with the FED a.k.a organized crime.

He's a puppet just like George was....except George didn't have a cult celebrity status following.

F!@#@in' sheep......

SBR_John · 03-20-09, 12:29 PM

Never liked Stations. They had the stupidest rules when it came to dealing 2 deck Blackjack. In fact, they had a lot of stupid rules period. Vegas needs to get back to the good ole days of near free rooms and $4.95 rib eyes.

BrentCrude · 03-20-09, 03:54 PM

Vegas becoame too high breau

Vegas became too high breau and high falluting where they created a luxury caviar and diamond atmosphere bubble and it backfired on them.20 years ago Vegas was a sawdust joint casual cornball hokey town and now it's full of carpet jointed foo powder specialty stores,fine wine,5 star restaurants.etc.etc.Well,they are all nice to look at,they smell good and put you in a wonderland atmosphere but when times get bad,everyone flocks to value and bargains.The phoney created out of smoke and mirrors yuppie millionaires now are happy to stay at The Union Plaza and Terrible's off the strip playing match plays,getting 2-1 buffet coupons,a free t-shirt with $20 sportsbet and free drink coupons.etc.

What goes around comes around and it's time to pay the piper.Goodbye Steve Wynn,goodbye to all the casino tycoons with Wall Street connections who thought everyone could afford paying for borrowed luxury.

When you grow up in the Ivy League and Wall Street beltways you can be smart as a whip but you are blinded by your surroundings.These Wynn type cake eaters never prepared themselves that funky corporatism-socialism was going to wreak havoc with rubes from fly over country where most of the money comes from that is spent in Vegas.

jjgold · 03-20-09, 04:15 PM

You got to be a sucker to spend $400 a night in Vegas, you really only sleep in the room and shower and watch some tv. Go get one for like $70 a night and they are just as comfortable, put your ego side and put money back in your pocket.