[LV10101]

Originally Posted by missladytexas

Please tell me Caesar's and Mirage aren't closing. Someone is buying them? Sorry I don't live in Vegas but do give my limited tourist budget strictly to Vegas almost every year. We love that place...been going since childhood.

Caesars will not close and will not change ownership.

Mirage will not close but will change owners.

[BBMW]

There are few definitions of profitable here. By operating cash flow they probably are profitable. But can they carry their debt, and the debt of the holding company?

Originally Posted by LuisSuarez

They are very profitable and will not close. All that will change will be the owners.

[dario77]

Many of my friends work at Mirage and they refused their transfer to Bellagio or MGM Grand because they wanted to keep their full time job.
(if they transferred to other MGM properties they would start from part-time, although money - pay check would be almost the same)
Now with this chane I don't know how they will feel.

Remember what happened to Ballys, Rio.... when Caesars bought them!

[Willy702]

Originally Posted by LV10101

I know a little about table game revenue. Please don't assume anything. Let me give you a little example of reality. I picked a random month within the last couple years;
August of 2013;
Nevada gaming in total took in $955.2 million.
Nevada BACCARAT table game revenue took in $193.6 million....

So JUST Baccarat revenue that month was one fifth of total gaming revenue.
Please tell me again about how table revenue is on the low end of the totem pole?

You are not going to win this debate.

Problem is all the fools in Las Vegas either dont know or wont acknowledge its whats going on in LA, not China, that is hurting their baccarat business. Which camp are you in?

[LV10101]

Originally Posted by Willy702

Problem is all the fools in Las Vegas either dont know or wont acknowledge its whats going on in LA, not China, that is hurting their baccarat business. Which camp are you in?

LOL...Willy please. The real problem is the fools who fail to realize the gaming industry is changing more and more everyday. As Macau dropped another 40% in profit in June compared to June of last year and Las Vegas dropped over 50% in baccarat profit please keep thinking you know the truth. The truth is you would be a fool to not think those numbers are a huge problem for Las Vegas.

[Willy702]

Originally Posted by LV10101

LOL...Willy please. The real problem is the fools who fail to realize the gaming industry is changing more and more everyday. As Macau dropped another 40% in profit in June compared to June of last year and Las Vegas dropped over 50% in baccarat profit please keep thinking you know the truth. The truth is you would be a fool to not think those numbers are a huge problem for Las Vegas.

You are obviouslying the fool who calls it profit. It's revenue, profit is a much different line item is it not? Bac players put up nice big numbers on the revenue line but are a real pain to make a profit off of. The convention visitor who plays slots an hour a day is better to the bottom line than your semi mythical Asian player. At least the convention visitor doesn't say I am not coming back unless you forgive 40% of my loss that I am 3 months late in paying.

Starring to think you are really full of it and don't really understand the casino business with all this nonsense yout speak of. You just hate Vegas and a keyboard is you way of taking it out on the city.

[mojavedxer]

Originally Posted by LV10101

I know a little about table game revenue. Please don't assume anything. Let me give you a little example of reality. I picked a random month within the last couple years;
August of 2013;
Nevada gaming in total took in $955.2 million.
Nevada BACCARAT table game revenue took in $193.6 million....

So JUST Baccarat revenue that month was one fifth of total gaming revenue.
Please tell me again about how table revenue is on the low end of the totem pole?

You are not going to win this debate.

Nope Im not going to win this debate with you because you are just to clever for me and I will stay out of it from now on. Provide me with a monthly balance sheet from the property that you work at that supports your claim and then maybe I will start listening to you again.

[LV10101]

Originally Posted by Willy702

You are obviouslying the fool who calls it profit. It's revenue, profit is a much different line item is it not? Bac players put up nice big numbers on the revenue line but are a real pain to make a profit off of. The convention visitor who plays slots an hour a day is better to the bottom line than your semi mythical Asian player. At least the convention visitor doesn't say I am not coming back unless you forgive 40% of my loss that I am 3 months late in paying.

Starring to think you are really full of it and don't really understand the casino business with all this nonsense yout speak of. You just hate Vegas and a keyboard is you way of taking it out on the city.

"The convention visitor who plays slots an hour a day is better to the bottom line than your semi mythical Asian player."....okay Willy702. If you want to believe that then great.

[LV10101]

Originally Posted by mojavedxer

Nope Im not going to win this debate with you because you are just to clever for me and I will stay out of it from now on. Provide me with a monthly balance sheet from the property that you work at that supports your claim and then maybe I will start listening to you again.

I just provided you a random month in the last couple years to show baccarat effect on the overall bottom line. Can you please provide facts to show those numbers that I provided are incorrect? Please don't start a debate and then leave the above comment like you proved something.

[mojavedxer]

Originally Posted by LV10101

I just provided you a random month in the last couple years to show baccarat effect on the overall bottom line. Can you please provide facts to show those numbers that I provided are incorrect? Please don't start a debate and then leave the above comment like you proved something.

All you posted was a random month that had alot of buy-in action at the Bacc tables. What was the end result ? As Willey has already posted, You need to learn the difference between drop and hold. Then factor in table game operation costs, comp value strategy, quarterly and percentage gaming taxes and see where your at.