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Vegas Report – Thursday – Departure

Last week I ventured off to my favorite destination in the United States – Las Vegas.  I’m going to recap the trip in a number and variety of posts.  I’ll be jumping from “I” and “we” as I took the trip with a good friend, but we weren’t always together.  We’ll begin the journey from my house.

I’ve always been a nervous airplane traveler.  I tend to get to the airport 2+ hours before a flight just to be safe – especially when going out to Vegas for fun.  My flight was scheduled for 1pm.  My car service was about 15 minutes early so I gladly departed at 10am.  I upgraded to first class and check in was a breeze.

There was about 2 hours until boarding so we got a quick bite at McDonald’s.  I haven’t had a McDonald’s breakfast in a while.  I’m happy the meal was uneventful.

I remembered I passed a Wine Bar so I wandered back towards the gate and decided to give it a shot.  I try not to go to the bathroom mid flight so I don’t tend to drink much before a flight.  I decided on a flight of California red wines while I caught up with work before I took off.  The wine bar was nice and relaxing.  One of the wines was a pinot noir that was perfect.  I could enjoyed the rest of the bottle if I had time.

The flight out was overbooked and Continental offered a nice package to those willing to wait on their flight – $300 voucher + food vouchers + first class on the next flight + (I think) access to the captains lounge during the wait.  This was quite an offer, but not enough for me to delay my trip to Las Vegas by 7 hours.

First class on this airplane was unlike anything I’ve ever experienced before.  I believe that the plan was a Boeing 757.   Leg room was insane.  I couldn’t reach the seat in front of me with my feet.  The seats reclined more than any other seats I’ve had before.  There was a foot rest that popped out when reclined and lumbar support.  There was an individual entertainment center located in each seat.  It had TV shows, video games, movies and music.  I thought only Virgin Atlantic had something like this.  It was awesome.  I knew my coach flight back would suck.

1stclass

Surprisingly, I didn’t bother with the entertainment center.  I had my ipod and tried to fall asleep with a few more glasses of wine.  When that didn’t work, I had a Grand Marnier.  I knocked off for a little while after my burrito lunch and then it was on to skyy vodka and club soda.  I felt nice by the time I got to Las Vegas and didn’t even care that I was 20 minutes late.

One perk of being in first class is that checked bags come out very quickly.  After gathering our bags it was off to the “Taxi Line.”  I hate this line, but it wasn’t so bad.  I’ve stood in a line 3 times as long.  Once in the cab I told the driver we were off to Caesars and to please don’t take the tunnel.  He sighed about that and went on to explain that taking the tunnel is how he makes his money.  Too bad – not my money.  We talked about the fight a bit and he asked who I was rooting for.  I told him Manny would probably win, but I just want a good fight.  The driver revealed that he was Filipino and rooting for Manny.

On to Caesars Palace next….

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Vegas Trip Notes

I’m back from Las Vegas and had a great trip.  I stayed at Caesars Palace which was pretty nice but very big and a little mellow.  Below are the notes I took during the trip.  A lot of these were tweeted during the trip.  Full review coming in the coming days.  

Thurs

Car early
McD’s breakfast
Wine bar – Flight of CA reds. Awesome.
Plane overbooked – $300 + first class + food. 
First class – most leg room individual tv/game/movie unit. Wine, sky/soda, grand marnier, sleep.
20 mins late.
CP huge
Diamond check in on one side. Upgrade to petite suite in palace tower. 15-20 min walk from check in.
Room nice and big. Location not bad.
3 of 5 pools open.
Mesa grill – awesome salad.
Explore CP -$20 vp – loss.
Room – game 6 bulls/celts. Great game
Palazzo – club grazi. $50 sign up.
Nice casino. Machines were broken.
Bar $20 VP. Loss. 
Carne Vino – Awesome. PH for 2.
Downtown
Freemont exp – kiss.
Golden monkey @ golden nugget -$20
Mini pai gow – about 8 kettel/soda +$100
CP 3CP -$300
$5 JOB -$300
Sleep 3 something AM.
Awake 7am. Blech. 

Fri

Up @ 7.
Room for a while.
Coffee & croissant
Various penny slots. +
Crepe madam. Pretty good.
Back to room. Relax.
No Zappos visit
To MGM.
Weigh in packed. told we couldn’t get in.
Played penny slots. -$20
8/5 VP +5
3CP + 400
Closed circuit @ MGM sold out. Told to go to NYNY. Told it’s sold out. Buy CC tix @ Mirage.
Back to room. Change. To Bellagio.
Dinner @ Prime. Kobe strip. AWESOME. Sit outside.
3cp +$400 
To palms
A lot to drink.
3cp +$300
To Gold Coast
Now has TGIFridays. Couple apps. Pai gow -$100
Fun cab to CP
Sleeeeeeep!

Sat

Coffee and croissant
-$100 VP
-$700 various $5 slots
-$50 penny slots
Room. Relax. Shower.
Lunch @ Augustus cafe. Shake + grilled cheese. Not bad.
Diamond lounge. Nice. no buffet. Nice staff. Good drink. Watched kentucky derby. 
To mirage for for CC fight tix
3cp +$200
Explore mirage.
Fight is far away from casino. There’s some kind of miss viet nom thing lots of hotties.  Also some military ball.
Drink + 3 play VP +$24
Time for fight.
Nice set up. Banquet style round tables. GA. Sold out or closed to it. Many VIPs. Not me.
About 65/35 toward hatton.
manny destoys. Place goes nuts. Brits wimper out.
After most leave. We walk out with terry fator show ending.
Dinner @ Samba.
Still many ppl, not many gamblers. $5 BJ and 3cp. Open with seats.
To HRC
Packed
Rearranged floor since last trip. Go-go stage. More slots.
$5 3cp -$100
Lots of DB’s
Caesars. “Early crash”

Sun

Payards croisant/coffee/again/messy
gamble
5c Top dollar slot -20
Sports book
VP 9/6 BP -80
Hawks -5.5 +100 poor wager. Wanted 2 bet more.
Reds + cards parlay +$37. Cards rained out
Sports bar many drink 9/6 VP -20 25 c top dollar -20
Some 7’s slot +7. confused. left.
Forum shops nice
Cheesecake fact – sliders – eh
$5 9/6 job -300
$5 Top dollar +300
$1 WOF +150
Nap
Diamond lounge packed hot food
Craps -400
5 c top dollar -100
Augustus cafe grilled cheese & shake again
PH – rocking
Go go dancers
1c WOF wack -20
3 play VP @ Heart Bar -20
CP – rockin
$1 WOF +75
Crash

Mon

Late rise
Pack
See host – all charges gone
augustus – bacon chz omlt. Good
$1 WOF +75
$1 diamond slot even
Cashier got bitchy when I cashed tickets
Room to relax
Airport
Flight delayed 2 hours
Chilis
Can’t sleep

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MGM Stocks Halted On Stock Market

Trading of MGM Mirage stocks were halted at the end of the trading day today.  This sent many Las Vegas watchers into a frenzy – myself included.  The news wasn’t as interesting as the chatter.  Straight from the horses mouth.

MGM MIRAGE (NYSE: MGM) and Dubai World through subsidiary Infinity World, 50/50 joint venture partners in the CityCenter project, today announced that the companies have reached an agreement on a revised joint venture agreement and also reached an agreement with CityCenter’s lenders on a comprehensive plan to fully fund the completion of CityCenter for its scheduled opening later this year. 

This is a bit of good news for MGM Grand.  If City Center is able to be completed as planned MGM Mirage shouldn’t have to divest any more properties to finish the project.

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Kentucky Derby!

I don’t follow horse racing too much, but I always pay attention to the Triple Crown races.  This weekend will be no different with the Kentucky Derby taking place.  

 Horse Betting at sportsbook.com

 I usually make an exacta wager or two on the Kentucky Derby.  This year I’ll probably add a couple of long shots to the exacta mix.  Unlike most years I’ll get a magazine and study up on my flight out to Vegas.  

Click the ad above to place your bets on the race.  There are a slew of odd prop bets that are too far above my knowledge to get into.  I never thought I’d see a bet I couldn’t handle.  That time has finally come.  To each their own!

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Las Vegas Blackjack Research

I have been on the hunt for the past few weeks to find infomation on Las Vegas blackjack payouts by casino.  While that information has showed me some new resources that search has also led me to many dead ends.

It seems as if the Las Vegas blackjack community is loud, but not as organized as the video poker players I’ve met.  So what have I learned from my search?

17’s:  Almost every table in Las Vegas seems to be where the dealer hits on soft 17.  This is to the advantage of the casino.  All tables in Atlantic City have dealers hiting on soft 17, so I’m used to this.

Payouts:   Blackjack pays both 6:5 and 3:2 in most casinos.  It seems as if 6:5 is taking over and the game most easily available.  3:2 blackjack games are supposedly hidden.

Shoe vs. Single Deck:  6:5 blackjack increases the house advantage by 1.39% when playing with a shoe.  House advantage with single deck goes from .2% to 1.6%.

Best reference found:  BJ21.com.  This was the best reference I was able to find.  For more details on 6:5 odds take a look at this post.

Best community:  The Las Vegas Trip Advisor forum had many willing voices.  While the Atlantic City forum has more video poker advice, Las Vegas’ forum had more people that played a wider variety of games.

What did I learn?  Not too much.  I really learned the difference between 6:5 payouts vs. 3:2 payouts.  I knew a little, but I feel much more well versed.  As long as I keep my wits about me I should be able to find a 3:2 blackjack game.  I’m not sure that will happen, but at least I know.

If you have any more references, please email me or comment below to share with everyone.

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Las Vegas Full Pay Jacks or Better

I’ve been looking at incoming searches to ECG and have noticed that every day there are people looking for full pay 9/6 Jacks or Better video poker for both Las Vegas and Atlantic City.  

I’ve cleaned up information from vpFREE2.   I realized how great the community is at vpFREE while doing research on Las Vegas blackjack payouts.  If you are very into video poker I urge you to participate on the vpFREE forum.

This is a list of all casinos in Las Vegas with their full pay 9/6 Jacks or Better video poker machines if they have them. Each entry also includes type of game and denominations avalable.  For details on all games head over to vpFREE2.

Arizona Charlie’s Boulder 
99.54% JoB (FP): 5c, 10c, 25c, 50c, $1

Bally’s Las Vegas 
99.54% JoB (FP): $5, $10, $25, $100

Barcelona Hotel & Casino 
99.54% JoB (FP): 5c(3 lines, 5 lines), 25c(3 lines, 5 lines)

Bellagio Las Vegas 
99.54% JoB (FP): $10(10 lines, 3 lines, 5 lines), $25(10 lines, 3 lines,
5 lines), $100

Bill’s Gamblin’ Hall & Saloon 
NA

Binion’s Gambling Hall & Hotel 
99.54% JoB (FP): 25c

Boulder Station Hotel & Casino 
99.54% JoB (FP): $1, $2

Caesars Palace Las Vegas 
99.54% JoB (FP): $5, $10, $25, $100

California Hotel and Casino 
99.54% JoB (FP): 25c, 50c, $1(10 lines, 3 lines, 5 lines, SP), $2(10
lines, 3 lines, 5 line…

Cannery Casino & Hotel 
NA

Casino Royale and Hotel 
NA

Circus Circus Hotel and Casino
NA

Eastside Cannery Hotel & Casino 
99.54% JoB (FP): 1¢, 2¢, 5¢, 10¢, 25¢(5 Coins, 10 Play, Slant-top, TITO)
25¢(5 Coins, 1 Play, Slant-top, Coin, $1, $2, 5 Coins, 10 Play, Upright, TITO)  

El Cortez Hotel & Casino 
99.54% JoB (FP): 10c(MS, STP), 25c(MS, STP)

Ellis Island Casino & Brewery 
99.54% JoB (FP): 25c, 50c, $1, $2, $5

Encore Las Vegas 
99.54% JoB (FP): $5(10 lines, 3 lines, 5 lines, SP), $10(10 lines, 3
lines, 5 lines, SP), $25(10 lines, 3 lines, 5 lines, SP), $100(3 lines)

Excalibur Hotel and Casino 
NA

Fiesta Rancho Hotel & Casino 
99.54% JoB (FP)…

Fitzgeralds Casino & Hotel 
NA

Flamingo/O’Shea’s 
99.54% JoB (FP): $5, $10, $25, $100

Four Queens Hotel & Casino 
99.54% JoB (FP): 5c, 25c, 50c, $1

Fremont Hotel and Casino 
99.54% JoB (FP): 25c, $1

Gold Coast Hotel & Casino 
99.54% JoB (FP): 25c(3 lines, 5 lines, MS, STP), 50c(10 lines, 2 lines,
3 lines, 5 lines), $1(10 lines, 2 lines, 3 lines, 5 lines), $2(10 lines,
2 lines, 3 lines, 5 lines), $5(10 lines, 2 lines)

Gold Spike Hotel and Casino 
NA

Golden Gate Hotel & Casino 
NA

Golden Nugget Hotel & Casino 
99.54% JoB (FP): $5, $25

Greek Isles Hotel & Casino 
99.54% JoB (FP): 5c

Green Valley Resort Spa Casino 
99.54% JoB (FP): 50c(Prog)

Hacienda Hotel and Casino 
NA

Hard Rock Hotel & Casino 
99.54% JoB (FP): $10, $25, $50

Harrah’s Las Vegas 
99.54% JoB (FP): $5, $10, $25, $100

Hooters Casino Hotel 
99.54% JoB (FP): 25c, 50c, $1

Imperial Palace 
NA

Jerry’s Nugget Casino 
99.54% JoB (FP): 25c

Las Vegas Hilton 
99.54% JoB (FP): 5c, 25c(10 lines), $1, $5

Longhorn Hotel Casino 
NA

Luxor 
99.54% JoB (FP): $1, $5(10 lines, 3 lines, 5 lines), $10(3 lines, 5
lines), $25

M Resort 
99.54% JoB (FP): $25, $50, $100 , 5 Coins , 1 Play , Upright , 

MGM Grand Las Vegas 
99.54% JoB (FP): $1(100 lines, 50 lines), $2(100 lines, 50 lines), $5(10
lines, 3 lines, 5 lines), $10(10 lines, 3 lines, 5 lines), $25(10 lines,
3 lines, 5 lines), $50(3 lines, 5 lines), $100(3 lines)

Main Street Hotel & Casino 
99.54% JoB (FP): 25c, 50c, $1

Mandalay Bay Hotel & Casino 
99.54% JoB (FP): $5(10 lines, 3 lines, 5 lines, SP), $10(10 lines, 3
lines, 5 lines), $25, $100

Mirage Resort & Casino 
99.54% JoB (FP): $2(10 lines, 3 lines, 5 lines), $5(10 lines, 3 lines, 5
lines), $10(3 lines, 5 lines), $25(3 lines), $50, $100

Monte Carlo 
99.54% JoB (FP): $5(3 lines, 5 lines), $10(3 lines, 5 lines), $25

MonteLago Village Resort 
NA

New York New York Hotel & Casino 
99.54% JoB (FP): $5(10 lines, 3 lines, 5 lines), $10(3 lines, 5 lines), $25

Opera House Casino 
NA

Orleans Hotel & Casino 
NA

Palace Station Hotel & Casino 
99.54% JoB (FP): $1, $2

Palazzo Las Vegas 
99.54% JoB (FP)

Palms 
99.54% JoB (FP): $1, $2, 5 Coins, 3/5 Play, Upright
25¢, 5 Coins, 1 Play, Slant-top
1¢, 5 Coins, 50 Play, Slant-top
25¢, 5 Coins, 5 Play, Upright

Paris Las Vegas 
99.54% JoB (FP): $5, $10, $25, $100

Planet Hollywood Resort & Casino Las Vegas
99.54% JoB (FP): $5 (5 Coins, 1 Play, Slant-top)
$10, $25 (5 Coins, 1 Play, Slant-top)

Plaza Hotel & Casino 
99.54% JoB (FP): 25c, 50c, $1

Poker Palace Casino 
99.54% JoB (FP): 25c

Rainbow Club & Casino 
99.54% JoB (FP): 5c(3 lines), 25c(3 lines), 50c, $1(3 lines)

Rampart Casino 
99.54% JoB (FP): 25¢, 50¢, $1, $2(5 Coins, 1 Play, Upright) 

Red Rock Casino Resort Spa 
99.54% JoB (FP): 25c, 50c, $1, $2

Rio All-Suite Hotel & Casino 
99.54% JoB (FP): $5, $10, $25, $100

Sahara Hotel & Casino 
99.54% JoB (FP): $1, $2, $5

Sam’s Town Casino 
99.54% JoB (FP): 25c(Prog), $1

Santa Fe Station Hotel & Casino 
NA

Silver Nugget Casino 
NA

Silverton Hotel & Casino 
99.54% JoB (FP): 5c, 10c, 25c(Prog), 50c, $1

Skyline Casino 
NA

Slots-A-Fun Casino 
99.54% JoB (FP): 25c, 50c, $1, $2

South Point Hotel Casino & Spa 
NA

Stratosphere Hotel 
NA

Suncoast Casino & Hotel 
NA

Sunset Station Hotel & Casino 
NA

Terrible’s Hotel Casino 
99.54% JoB (FP): 5c, 10c, 25c, 50c, $1

Texas Station Gambling Hall & Hotel
NA

Treasure Island Hotel & Casino 
99.54% JoB (FP): $5(3 lines, 5 lines), $10(3 lines, 5 lines), $25

Tropicana Hotel & Casino 
99.54% JoB (FP): $1, $2, $5

Tuscany Suites & Casino 
NA

Vegas Club Hotel & Casino 
NA

Venetian Resort Hotel Casino 
99.54% JoB (FP)

Western Hotel & Casino 
NA

Westin Casuarina Hotel and Spa 
99.54% JoB (FP): 25c

Wild Wild West Hotel & Casino 
NA

Wildfire Gaming 
NA

Wynn Las Vegas
99.54% JoB (FP): $2(10 lines, 3 lines, 5 lines, SP), $5(10 lines, 3
lines, 5 lines, 50 lines, SP), $10(10 lines, 3 lines, 5 lines, SP),
$25(10 lines, 3 lines, 5 lines, SP), $100(3 lines)
99.54% JoB (FP): 5c, 25c, 50c, $1, $5

 

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Betting on the NFL Draft!

I was watching ESPN over the weekend and there was wall to wall coverage, as usual, in preparation of the 2009 NFL Draft.  After repeated stories of the NY Jets looking for a way to draft USC QB Mark Sanchez my mind wandered.  The NFL always has a reason to gamble and, of course, sportsbook.com has prop bets ready.  

Odds taken from sportsbook.com 4/22/09

Number of Quarter Backs taken in Round One (Position Per NFL.com) – Go to sportsbook.com

  • Over 2.5 (-350)
  • Under 2.5 (+225) 

Number of Running Backs taken in Round One (Position Per NFL.com) – Go to sportsbook.com

  • Over 2.5 (+120)
  • Under 2.5 (-160)

2009 NFL Draft – Number of Wide Receivers+Tight Ends taken in Round One (Position Per NFL.com) – Go to sportsbook.com

  • Over 6 (-170)
  • Under 6 (+130)

Number of Offensive Linemen taken in Round One (Position Per NFL.com) – Go to sportsbook.com

  • Over 6.5 (-105)
  • Under 6.5 (-135)

Michael Crabtree – What Will his Draft Pick Position Be – Go to sportsbook.com

  • Over 7.5 (+200)
  • Under 7.5 (-300)

Andre Smith – What Will his Draft Pick Position Be – Go to sportsbook.com

  • Over 6.5
  • Under 6.5 (-130)

Mark Sanchez – What Will his Draft Pick Position Be – Go to sportsbook.com

  • Over 10.5 (+160)
  • Under 10.5 (-220)

Jeremy Maclin – What Will his Draft Pick Position Be – Go to sportsbook.com

  • Over 7.5 (-140)
  • Under 7.5 (even)

Knowshon Moreno – What Will his Draft Pick Position Be – Go to sportsbook.com

  • Over 21.5 (+110)
  • Under 21.5 (-150)

Chris Beanie Wells – What Will his Draft Pick Position Be – Go to sportsbook.com

  • Over 15.5 (-170)
  • Under 15.5 (+130)

Rey Maualuga – What Will his Draft Pick Position Be – Go to sportsbook.com

  • Over 16.5 (-250)
  • Under 16.5 (+175)

Hakeem Nicks – What Will his Draft Pick Position Be – Go to sportsbook.com

  • Over 29.5 (-200)
  • Under 29.5 (+150)

Brandon Pettigrew – What Will his Draft Pick Position Be – Go to sportsbook.com

  • Over 23.5 (-130)
  • Under 23.5

BJ Raji – What Will his Draft Pick Position Be – Go to sportsbook.com

  • Over 8.5 (+150)
  • Under 8.5 (-200)

Which Player Will Get Drafted 1st – Go to sportsbook.com

  • Knowshon Moreno (Georgia) +150 
  • Chris Wells (Ohio State) -200

Which Player Will Get Drafted 1st – Go to sportsbook.com

  • Michael Crabtree (Texas Tech) -250
  • Jeremy Maclin (Missouri) +175

 Which Player Will Get Drafted 1st – Go to sportsbook.com

  • Percy Harvin (Florida) -250
  • Hakeem Nicks (North Carolina) +175 

Which Player Will Get Drafted 1st – Go to sportsbook.com

  • Brian Orakpo (Texas) -200
  • BJ Raji (Boston College) +150

Which Player Will Get Drafted 1st – Go to sportsbook.com

  • James Laurinaitis (Ohio State) +175 
  • Clay Matthews (USC) -250

Which Player Will Get Drafted 1st – Go to sportsbook.com

  • Brian Cushing (USC) -160 
  • Rey Maualuga (USC) +120

Which Player Will Get Drafted 1st – Go to sportsbook.com

  • Javon Ringer (Michigan State) -160
  • Glen Coffee (Alabama) +120

Total SEC Players Drafted in the 1st Round – Go to sportsbook.com

  • Over 7.5 (+160)
  • Under 7.5 (-200) 

Total ACC Players Drafted in the 1st Round – Go to sportsbook.com

  • Over 5 (-150)
  • Under 5 (+110)

Total Big 12 Players Drafted in the 1st Round – Go to sportsbook.com

  • Over 5.5 (-135)
  • Under 5.5 (-105)

Total Big 10 Players Drafted in the 1st Round – Go to sportsbook.com

  • Over 4.5 (-120)
  • Under 4.5 (-120)

Total PAC 10 Players Drafted in the 1st Round – Go to sportsbook.com

  • Over 5.5 (-135)
  • Under 5.5 (-105)

James Laurinaitis (Ohio State) – Will he be Selected in the 1st Round – Go to sportsbook.com

  • Yes -120
  • No -120

Brian Robiskie (Ohio State) – Will he be Selected in the 1st Round – Go to sportsbook.com

  • Yes +175 
  • No -250

Clay Matthews (USC) – Will he be Selected in the 1st Round – Go to sportsbook.com

  • Yes -400
  • No +250

Josh Freeman (Kansas State) – Will he be Selected in the 1st Round – Go to sportsbook.com

  • Yes -700
  • No +400

 Patrick White (West Virginia) – Will he be Drafted on Day 1 of the Draft (Rounds 1 and 2) – Go to sportsbook.com

  • Yes -200 
  • No +150

 John Parker Wilson (Alabama) – Will he be Drafted on Day 1 of the Draft (Rounds 1 and 2) – Go to sportsbook.com

  • Yes +225 
  • No -350 
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People from New Jersey Want Sports Betting

A Fairleigh Dickenson study shows that New Jersey residents wan’t sports gambling.  In fact they want it by more than a 2 to 1 ratio.  The sample size is very small but, as someone who would love to see legal sports gambling in New Jersey, this is nice to see.

In the poll, 63 percent of New Jerseyans said they support making sports betting legal at the 11 Atlantic City casinos, while 32 percent opposed it. Men favored it by a 69-27 margin, while women’s support was softer at 58-36.

Its interesting to see the difference in where these same people would like to see sports gambling.

The poll also found similarly strong support for allowing sports betting at horse racing tracks, by a margin of 63 percent to 30 percent.

But voters were nearly split on whether to allow it at off-track betting parlors, with 48 percent saying yes and 43 percent saying no.

By a wide margin, 66 to 26 percent, New Jerseyans oppose legalizing sports betting by telephone and the Internet.

I find it strange that anyone would want to legalize sports gambling in public, but not on the internet – in the privacy of someone’s home.  I must be missing something there.  

Hopefully, the continued public acceptance of sports gambling will prove to government that there is a place for this.  This can only help the casino business.

 

Source: Philly.com.  Read the results of the poll from FDU.

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Station Casinos Holding On. For Now.

Last night Las Vegas’ mostly locals casino chain, Station Casinos, announced that they were given an extension on their deadline to file for bankruptcy by their lenders.  The extension is for 30 days and doesn’t mean that Station Casinos is in the clear just yet.

The May 15 deadline gives holders of $2.3 billion in bonds more time to consider Station Casinos’ offer to buy back investors’ bonds and exchange them with new, discounted notes with extended maturity dates, potentially reducing the company’s debt by $1.7 billion.

The extension postpones a Chapter 11 bankruptcy filing by Station, which anticipates filing for bankruptcy protection regardless of whether bondholders approve the exchange.

Filing for Chapter 11 isn’t always the death of a business.  In this case it could allow Station Casinos the ability to restructure, pay off debt and stay in business.  

As I’ve mentioned before, I like Station Casinos and think there is a place in the market for them.  I, almost always, make it a point to stop off at the Gold Coast.  I have plans on doing that again on my next trip.  The Gold Coast was on of the places where I honed my gambling chops and I hope things stay in tact.

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Penny Slots are NOT Your Friend

As I’ve mentioned before, the lower the denomination on a slot machine the worse the payout.  Todays Press of Atlantic City goes a little deeper into that subject.  Here are some nuggets from the article.

  • Penny machines outperformed all other slot machines in 2008.
  • While Atlantic City’s casino revenue has plummeted overall, the take from penny slot machines and their 2-cent counterparts rose 8.4 percent last year, compared with 2007, to nearly $698 million.
  • Every property in town except for Showboat Casino-Hotel added more penny machines last year. There are currently 7,584 penny slots, a nearly 20 percent increase from 2007, New Jersey Casino Control Commission statistics show.
  • They represent 22 percent of Atlantic City’s 34,000 total slot machines.
  • Borgata boosted its penny slots inventory last year by 32 percent and trails only Bally’s Atlantic City and Trump Taj Mahal Casino Resort in the number of 1-cent machines. At the end of 2008, Bally’s had 991, the Taj Mahal 946 and Borgata 927 of those slots

Casinos will only add a game if it makes them money.  Clearly there are of these machines and they are making casinos money.  It’s humnan nature to think anything that costs a penny will allow your dollar to go farther.  When it comes to gambling, that is counter-intuative.  

I’ve noticed more slot machines in casinos, but never consciously thought about it.  Now that I think about it, I’ve definitely been drawn into some of these penny slots over the past year.  For me, they are little more than entertainment.  I enjoy playing slots with bonus games like Top Gun or Golden Monkey.  If I win, it’s a bonus.  I know going in that I shouldn’t expect to win.  With that mindset I can happily enjoy these games for what they’re worth.

Copyright © 2017 Marc Meltzer & EDGe Vegas