My point of view as a Seven Star player

[redietz]

I agree -- CET has no three-to-five year plan. LoneStar, I am not a big vp or CET player. I'm 99% a sports player, and we no longer get comped for much of anything (a 5K bet at Harrah's didn't get me a sandwich; neither did a 10K boxing bet at the Venetian), but I still keep tabs on the various programs. Dan is like the Yoda of CET. While I understand your point about stopping at a certain point level to make a point, it kills me that you won't get max value from them. Take the max value, baby.

A friend of mine plays everywhere, but he likes Paris as his home base, so I understand your wife's preferences.

Anyway, welcome and get your max value.

[pkspins]

Dan

Quite a few very valid points, one problem I have is now in Ohio where I live part time we have NO more Caesars Entertainment Casinos. Rock Gaming is doing their own loyalty program.. They will grant us their top level card and benefits... But now I must either go to Horseshoe Southern Indiana or Chicago... Or the charters from Columbus,Cleveland,Dayton,etc....

Some of my travels take me to the Cleveland area, where I've played at the 2 CET facilities that are part of Rock Gaming as well as the Hard Rock. From what I've heard from a few people when I've been in the area since this announcement, they're going to be continuing with CET for several months into 2016 before they move to the new program. I'd assumed it was April 1 since that is when the current CET cards expire, but I'm hearing mid summer? So depending on your schedule of Ohio vs Texas, you may have the ability, should you need it, to earn some of your tier credits for 2016 at Cincinnati, assuming all the Rock Gaming facilities are moving at once from CET to the new program.

For what it's worth, all of this was from other players who have CLE based hosts who I talked to while playing at the Hard Rock, where, and again this is scuttlebutt, a lot of the HL slot players from HS CLE have moved due to this decision.

[RRLover]

LoneStarHorse - You do have one other Caesars property that's about the same distance from Horseshoe Cincinnati as Horseshoe Cleveland.....Caesars Windsor. I live close to Horseshoe Southern Indiana, but my "home" property is Caesars Windsor. They have BY FAR more and better giveaways, free play, frequent shows and RC multipliers) than ANY of the other CET properties in IN or OH. They have a multiplier generally at least once a week. This month, all seven stars receive 15x RC multiplier every Tuesday, which is capped at 75,000 bonus RCs each day. I also enjoy playing there due to the high exchange rate. Two weeks ago, it was 1.41. Also, Canada does not tax winnings.

[Alan Mendelson]

RRlover thanks for joining and posting. I'm guessing those RCs can be used in Vegas?

And you still have US taxes to pay.

[FABismonte]

RRlover thanks for joining and posting. I'm guessing those RCs can be used in Vegas?

And you still have US taxes to pay.

Hi Alan:

A couple of years ago I went to Ceasar's Windsor and enjoyed the place. One thing that struck me was that both the gambling and the drinking age was 19. If I were a college student under 21, that where I would go.

When I was there, there was a promotion (Sunday) of 10X earned RCs if one were Diamond and 15X if Seven Stars. I wound up stocking up on RCs and I can confirm that they are just as valuable (or non-valuable) as RC earned in Vegas.

I also hit four As on a CAD$2 video poker machine. I am attaching the photo, making CAD$1,600 but not requiring any handpay or any tax documentation. In fact, it just totaled up on the machine and I could just keep playing.

You ask if there are any US taxes to pay. Well, since there is no tax documentation and no one ever asked for my US Social Security Number, there is only the usual requirement that a US citizen declare his or her own worldwide income.

However, I did not make net money gambling that year so I did not think I needed to do so.

[RRLover]

RRlover thanks for joining and posting. I'm guessing those RCs can be used in Vegas?

And you still have US taxes to pay.

Hello Alan.

Everything FABImonte posted is correct. Border agents ask how much cash you have on you whether coming or going. However, they really only want to know if you have more than $10,000. Since this property is just directly across the river from downtown Detroit, you also have access to three other casinos in Detroit, including an MGM. I go there primarily to play Rapid Roulette. According to the Caesar's table game finder, they are the only property left with the old version of Rapid Roulette that still rates your play as a table game. The attached picture is the view from any of the rooms or suites on the river side.

[Alan Mendelson]

Not everything FAB posted is correct. When it comes to reporting your wins if you have a net win on the day you have to report it on your 1040... then you offset those wins on your Schedule A. What happened for the full year does not affect this reporting requirement.

I'm not saying that someone at the IRS is going to break a sweat over it -- but that's what you are supposed to do.

[FABismonte]

Not everything FAB posted is correct. When it comes to reporting your wins if you have a net win on the day you have to report it on your 1040... then you offset those wins on your Schedule A. What happened for the full year does not affect this reporting requirement.

I'm not saying that someone at the IRS is going to break a sweat over it -- but that's what you are supposed to do.

Hi Alan:

You should consult your own tax professional. But I fear if one listed every day's winnings as income (even if there is no W2-G generated), then even if you offset later, you will be slain by the Alternative Minimum Tax. Also if you live in states like Illinois, where I grew up, you will find you cannot offset on you State tax return. That's bad when you have W2-Gs, but suicidal when you voluntarily list each day's winnings as income (which Illinois does not let you offset).


FAB

[Alan Mendelson]

Hi Alan:

You should consult your own tax professional. But I fear if one listed every day's winnings as income (even if there is no W2-G generated), then even if you offset later, you will be slain by the Alternative Minimum Tax. Also if you live in states like Illinois, where I grew up, you will find you cannot offset on you State tax return. That's bad when you have W2-Gs, but suicidal when you voluntarily list each day's winnings as income (which Illinois does not let you offset).


FAB

Unfortunately that's the way it is. Yes, you run the AMT risk and it also raises your adjusted gross income which will mean that your Schedule A deductions will not be worth as much.

We went over this in the discussion about Arc's tax returns.

The IRS and how it treats gambling winnings sucks.