Trump Plaza Closes

[DaBurglar]

Vegas has lost some business to places like Pechanga in So Cal, and some of the Central and Northern Californai gambling locales have bit into Vegas' California take as well (along with Reno being especially hard hit by the casinos outside Sacramento.  But unlike AC and the Connecticut Native American Casinos, Vegas was not mortally wounded and easily compensated with its "global" reach.   Still, I am sure Vegas would love to see the California casinos disappear.In the case of the Mohegan Sun and Foxwoods hurting AC, it should be noted that Both of those native casinos are in DEEP debt too so whatever damage they inflicted on AC has come right back at them in the form of their own greed and incompetence.    Is it not somewhat ironic that a business that supposedly is centered on the principle "the house always wins" is so chock full of houses that are not winning anymore?? edited to add:  Today's Sunday Republican (in Springfield MAss) stated that Foxwoods is 2.6 Billion in Debt and Mohegan is 1.6 Billion.....that's just absurd

[Tedlark]

I don't see the Europeans, Aussies, and Asians booking flights to Southern California for their gaming holidays.

[BillyJoe]

Is it not somewhat ironic that a business that supposedly is centered on the principle "the house always wins" is so chock full of houses that are not winning anymore??
Simple business economics. Costs higher than revenue.

You need to INCREASE revenue within your current cost structure, or DECREASE cost within your current revenue expectations.

Can you believe that businesses actually PAY me to tell them this ?

[DaBurglar]

[QUOTE=DaBurglar]
Is it not somewhat ironic that a business that supposedly is centered on the principle "the house always wins" is so chock full of houses that are not winning anymore??
Simple business economics. Costs higher than revenue.

You need to INCREASE revenue within your current cost structure, or DECREASE cost within your current revenue expectations.

Can you believe that businesses actually PAY me to tell them this ? [/QUOTE]yes, I too do consulting and it's absurd what many companies simply do not know (or refuse to do what they DO know but are too indolent to act.....which is fine, they want to pay people like us to tell them the incredibly obvious, I'll spend that money and stimulate the economy.    I trust you too do the same ....

[DaBurglar]

I don't see the Europeans, Aussies, and Asians booking flights to Southern California for their gaming holidays. I know you are not this Obtuse in reality.    So it must be deliberate.......VEGAS is hurt (potentially) by ANY other casino operating ANYWHERE else in the world, simply because Vegas had worldwide reach in its marketing campaigns, and it has worldwide appeal.     But as I explained, Vegas is not HURT to the extent AC is hurt because it simply is set up and conducts its business in a much more competent manner than AC ever has......plus Vegas now derives a HUGE percentage of its income from NON gambling sources, which is something these other casinos simply cannot replicate.   AC is starting (too late) to do this but it shot itself in both feet by waiting and being lazy and stupid for the past 25 years when it had a choke hold on the Eastern portion of the continent.I have met people from ALL over the country in Vegas, and over the years, as individual casinos popped up in local and regional markets, many of these same people who USED to visit Vegas several times a year, simply cut back or stopped altogether going to Vegas and contented themselves with their local casino.    BUT, as time goes by, people will realize that the local casino 45 minutes from their door is NO substitute for the D E S T I N A T I O N  that Vegas represents.....and Atlantic City COULD also represent itself as a DESTINATION if it would just pull its arse out of its head....uh, wait, strike that, reverse it....

[Tedlark]

I stand by what I wrote DaBurglar. The impact to Las Vegas and their gaming and overall revenue are minimal. Do you remember writing about the development of a second airport to service Las Vegas as well as writing about a high speed rail line connecting Los Angeles and Las Vegas or do I need to pull those posts out too? I have them at the ready.

Edited to add: I reread both of the posts you made here and in neither did you explain how, other than global marketing which you mentioned, Las Vegas conducts it's business in a more competent manner than AC ever has.

[OTABILL]

   I don't see the Europeans, Aussies, and Asians booking flights to Southern California for their gaming holidays.

What I see and hear about are folks cutting back on weekend Vegas (and Laughlin) trips from Southern Cal and Arizona. There is no doubt Vegas is impacted, but to what degree is not clear.

[DaBurglar]

I stand by what I wrote DaBurglar. The impact to Las Vegas and their gaming and overall revenue are minimal. Do you remember writing about the development of a second airport to service Las Vegas as well as writing about a high speed rail line connecting Los Angeles and Las Vegas or do I need to pull those posts out too? I have them at the ready.

Edited to add: I reread both of the posts you made here and in neither did you explain how, other than global marketing which you mentioned, Las Vegas conducts it's business in a more competent manner than AC ever has.Oh you DEFINITELY need to pull those "old" posts of mine out ted, DEFINITELY....      at the ready huh?  just like your guns I imagine, ready to KILL at the drop of a hat.  What the hell does my posts about the (now) dormant plan to build an auxiliary airport out in Primm, and about the shelved project to connect the two cities by high speed rail (i.e. a "bullet train"), have to do with what we are talking about?    Seriously, explain this idiotic attempt by you to make me look like whatever it is you want to make me look like....And WHO cares if I did not explain HOW vegas is more competent than AC....that was not the object or point of anything you posted previously......I am the one who related that into my overall answer.   And it needs no explaining because it is OBVIOUS and intuitive.......the history of AC is self explanatory (as well as self incriminating).....plus all you need to do is research how and what STEVE WYNN did vis-a-vis his early investments in AC and what he has said and done over the years about AC to know the place is totally messed up.By the way, I am so glad (flattered even) you have taken such a keen interest in what I have written in the past on this site.   I cannot say the same about me taking a similar keen interest in what you have written here.....but you need to know that this is making you look even MORE ridiculous (as if that were possible, but apparently it is.....)Either you have LOTS of free time with nothing better to do....OR you really are the self absorbed misanthropic evil troll I have speculated you might be in that you are DETERMINED to show the other members of this forum just how much of a threat I am to them!

[DaBurglar]

[QUOTE=Tedlark]   I don't see the Europeans, Aussies, and Asians booking flights to Southern California for their gaming holidays.

What I see and hear about are folks cutting back on weekend Vegas (and Laughlin) trips from Southern Cal and Arizona. There is no doubt Vegas is impacted, but to what degree is not clear. [/QUOTE]Thanks OTABILL    Nice to see someone is able to properly process and explain what we are discussing here....and you are correct, "to what degree" i snot apparent but then again its intuitive isnt it?   I mean we do not know to what extent competition within discretionary spending-related industries that offer non-concrete services impacts each other, because it is all speculative anyway.    Just like most economics is "educated and empirical guesswork".......its one big huge gray area.

[Tedlark]

  DaBurglar, KILL? really? I must ask you once again to stop the name calling. Let me guess; when you mentioned that you do consulting work the only way you could make it better is if you said that you are a consultant to those Atlantic City casinos that have recently closed? I am thinking that may be some of your problem. Now if you said you were an "insultant" instead of consultant, I'd believe that.