[MomMom]

Originally Posted by Willy702

Wishful thinking. The whole world loves to go to Vegas to make money in developments whenever they believe there is growth to be had. If they can finish all the unfinished stuff now then certainly they will believe in growth. As for the suits in Vegas, they just run what they are given. Very little of the money comes from Vegas itself, its all raised worldwide. When investors in almost every other part of the world hear how cheap land is and how cheap houses are they salivate and think when is the right time to get in.

Unfortunately from my own selfish point of view about future growth here in town, I do have to agree with what you said above above willy.

Good post

[fleabite]

I won't claim to be an expert, but I work as a database administrator and have worked with demography data for commercial real estate firms. What I know about Fresh and Easy is this, in layman's terms:

The company throws stores up everywhere, decides which are successful and which are not. The ones that do not produce, are destined for closure. This is premeditated. (chose wisely if you get a job at one of their new stores). Did you notice that all the new stores were built almost all at once?

So, when I heard about these closings, I was not surprised.

[Willy702]

Originally Posted by fleabite

I won't claim to be an expert, but I work as a database administrator and have worked with demography data for commercial real estate firms. What I know about Fresh and Easy is this, in layman's terms:

The company throws stores up everywhere, decides which are successful and which are not. The ones that do not produce, are destined for closure. This is premeditated. (chose wisely if you get a job at one of their new stores). Did you notice that all the new stores were built almost all at once?

So, when I heard about these closings, I was not surprised.

Relatively few stores were built for them. They took over the many vacated Rite Aid locations and they probably got cheap rent in a lot of busted or vacant strip malls around the city. My thinking is these stand still type deals they must be negotiating will be very favorable to them. Its not like the building owners have someone lined up to take their place if they put a store on hiatus. They probably can sit on the leases for almost nothing for years and then reopen if conditions make sense.

Here is something very few people truly understand about the grocery business in Las Vegas: Most of the stores in Vegas earn enough in their 70 or 80% share of slot profits from their 15 machines to pay their rent and some or all of their operating expenses. A few stores in prime locations earn over $150,000/month, with most earning between $25-75,000. As play levels have gone down with the recession, the stores have also in many cases negotiated lower rent so they are still doing fine. This is a huge benefit Vegas grocery has that exists nowhere else. But of course F&E and Walmart don't get this benefit so it really can skew the finances of the grocery wars.

[kimba01]

With that kind of income from a slot machine, why don't some of the smaller businesses have one or two of them? Like hair salons and such?

I need to buy some machines...and put them somewhere. Maybe in my yard for all the people that come and visit. I am sure they would drop some dough in them...hmmmmm.

[Willy702]

Originally Posted by kimba01

With that kind of income from a slot machine, why don't some of the smaller businesses have one or two of them? Like hair salons and such?

I need to buy some machines...and put them somewhere. Maybe in my yard for all the people that come and visit. I am sure they would drop some dough in them...hmmmmm.

Only licensed bars and supermarkets can get the license needed for up to 15 machines. Convenience stores and drug stores are allowed to take on up to 7 machines. Laundromats and other retail businesses no longer get licenses, but some are grandfathered in.

If you set up a machine with the intention to make a profit off of it, even from relatives or whoever and don't get a license you could face felony charges. The gaming business has lots of rules to protect existing license holders from competition.

[PinkString]

Darn it. I wanted 15 machines for my garage.

[jfkIII]

Yes...but don't forget that you have to have enough cash on site to pay off as if the top prize was hit by all machines simultaneously!

[kimba01]

Guess I never thought of them paying off since I don't have first hand experience with that...slipped my mind. Ok, never mind the felony risk isn't really worth it. Maybe I should start growing pot. (oops, that's a different thread)

[jfkIII]

Actually, I once heard that one legal requirement to operate a casino in NV was for the house to enough cash on hand at all times to cover every casino chip in the joint and the top prize of every machine (except shared progressive machines) in the random event that they all hit the top prize jackpot at the same time.

It's all hearsay...so I'm not sure if this is true.

[steel7]

A few days ago i bought a 2 lb bag of fresh n easy french frys & they were terrible. They didnt cook right (very greasy) so i brought them back today & got my $1.89 back. Overall fresh n easy has poor prices & their mark downs are high even though they are 50% off.