SHOWBOAT CLOSING

[JIMDUECE`SWILD]

http://www.pressofatlanticcity.com/news ... 963f4.html 

[yankees4ever31]

One of the rumors I've heard is that Caesars is closing Showboat so they could buy Revel. It's a way of upgrading to a newer property without having to build one.

-yankees4ever31

[JWF]

What a shame. They seemed to have a lot of the machines I like to play. And I always enjoyed running back and forth between Showboat, Taj Mahal, and Resorts.

[JIMDUECE`SWILD]

What a shame. They seemed to have a lot of the machines I like to play. And I always enjoyed running back and forth between Showboat, Taj Mahal, and Resorts.
 I enjoyed playing the 25¢ AC Joker Poker progressive in the poker parlor.  

[DaBurglar]

Caesars cannot afford to purchase even a heavily discounted REVEL, for the same horrible reason they are closing a still "profitable" property......because all that interest on the debt they carry dwarfs the small profit showbaot yields, whereas shuttering the place, eliminating the operating cost in one fell swoop (or one swell poop) will make a larger dent in the long term debt, which is killing them.    It's basic accounting......Let's put it this way, the huge debt they have is the SINGLE reason they got turned down for one of the three gaming licenses in the state I live in, Massachusetts.   It was a ridiculous verdict on the part of the mass gaming commish, but still tells a lot about people (and investor) perception.I hate caesars anyhow, I really do....they epitomize everything that is wrong with gaming today.   their hypocritical commercials where their dull-as-skim-milk CEO loveman gets on their and talks about "setting limits" also irks me.....how do ya think they got to be the biggest casino glutton on earth, by telling customers who were losing their butts to go to bed or go eat a corndog?????    total bullcrap

[BillyJoe]

Caesars cannot afford to purchase even a heavily discounted REVEL, for the same horrible reason they are closing a still "profitable" property......because all that interest on the debt they carry dwarfs the small profit showbaot yields, whereas shuttering the place, eliminating the operating cost in one fell swoop (or one swell poop) will make a larger dent in the long term debt, which is killing them.    It's basic accounting......Let's put it this way, the huge debt they have is the SINGLE reason they got turned down for one of the three gaming licenses in the state I live in, Massachusetts.   It was a ridiculous verdict on the part of the mass gaming commish, but still tells a lot about people (and investor) perception.I hate caesars anyhow, I really do....they epitomize everything that is wrong with gaming today.   their hypocritical commercials where their dull-as-skim-milk CEO loveman gets on their and talks about "setting limits" also irks me.....how do ya think they got to be the biggest casino glutton on earth, by telling customers who were losing their butts to go to bed or go eat a corndog?????    total bullcrap

There is SO much money to be made in gaming that I doubt you will ever see a folksy, Benny Binion again. The large gaming corporations are all about business results, so don't kid yourself. An 'upstart' may be successful for a time, but will be swallowed by the big fish eventually.

[pokerforme]

Any successful upstart or family anything that is turning a good revenue/profit margin is quickly bought up by a over managed top heavy corporation whose only goal is to make there stock climp so the board and few mid level execs can skim it before they leave for the next vampire ran company.....its the new American way....run it into the ground for numbers today, nothing is about long term.

[ImALooserBaby]

Being from Philly all the casinos around me suck. Parx and Sugarhouse I'm not feeling. Haven't been to Harrah's Chester yet. The way things are going in AC I might be staying in my area in the near future.

[BillyJoe]

Any successful upstart or family anything that is turning a good revenue/profit margin is quickly bought up by a over managed top heavy corporation whose only goal is to make there stock climp so the board and few mid level execs can skim it before they leave for the next vampire ran company.....its the new American way....run it into the ground for numbers today, nothing is about long term.
The one thing about the gaming industry, though, versus other US industries, is that they are not afraid to borrow heavily to take a chance and grow. People like Steve Wynn and Sheldon Adelson, albeit using "other people's money", grew very successful. I cannot think of another industry that would tolerate that much risk-taking.

[pokerforme]

Very true