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Thread: Casino profits not that big

  1. #1
    Just published by the Las Vegas Review Journal:

    https://www.reviewjournal.com/busine...eared-2009521/

    In short, before the shutdown Strip casinos had daily "win" of $700,000 and other casinos were less than ten percent of that.

    No wonder casinos get uptight about APs and card counters and experts like Mr Rob Singer who win huge jackpots within minutes!

  2. #2

  3. #3
    I've never minded putting the hurt on any of the casinos--and in multiple ways. And because I've gotten more than my slice of the pie already, I don't care at all if some or all of them close down and make tens of thousands of employees find better jobs elsewhere. Not my concern one bit.

  4. #4
    Originally Posted by AndrewG View Post
    Just published by the Las Vegas Review Journal:

    https://www.reviewjournal.com/busine...eared-2009521/

    In short, before the shutdown Strip casinos had daily "win" of $700,000 and other casinos were less than ten percent of that.

    No wonder casinos get uptight about APs and card counters and experts like Mr Rob Singer who win huge jackpots within minutes!
    I guess I donít get what you are saying Alan. You donít consider $700K a day per casino a lot? Times 23-25 casinos on the strip depending how you count Wynn-Encore and Venetian-Palazzo. Not counting FNB, Clubs, Restaurants, etc. Do the math and then figure out how much tax revenue is being lost daily. Sure they wonít be back at these numbers anytime soon, but the amount of tax loss is incredible. Where do you think that money is going to come from? Maybe Nevada will have to give in and create a State Tax on residents?

    And if you were being a smart ass and saying they shouldnít be worried at APís because of this amount, itís shows why some people never were made to be in business. Successful business owners try to control every facet of their business to make them as profitable as possible. They owe it to themselves in small business and their shareholders in corporations.

    Not sure what you did in your life but we had a failed businessman on here. We heard from a family member who didnít get paid and he resorted to taking money from crooked businesses, checking his morals at the door out of need. I say need because he appeared to be a degenerate gambler who threw it away trying to beat the game of craps.

    The best lessons in life sometimes are learned by watching others make mistakes and try not to make the same ones yourself.

  5. #5
    Mr Boz I'll cut to the chase. I can't believe that a place like Caesars Palace and MGM Grand and Wynn pay all their casino staff and utilities and payroll taxes and uniforms and maintenance and license fees for games on a daily "win" of only $700,000.
    Just as an example. If a casino has 1,500 slot machines and pays $10 per day as,a license fee, that's $15,000.
    What's the real fee? And many if not all slots are rented.
    How about the license fees on those side bets at blackjack?

  6. #6
    And they have no other streams of revenue in their casino hotels?

    And no, I still have no clue what point you were trying to make.

    Also I would believe the 2 you mentioned have higher revenue than Sahara, The Linq, Excalibur, etc. It’s an average.

    But again, I’m not up on casino revenue math compared to expenses like you appear to be.

  7. #7
    Here are the license fees on slots paid only to the State and not to IGT and the other machine companies.

    https://gaming.nv.gov/index.aspx?page=94

    You were a restaurant owner Mr Boz? How did you manage your books? Did you use cigarette machine revenue to cover your kitchen costs?

    Same thing with a casino resort. Hotel revenue has to cover the hotel. Restaurant revenue has to cover the restaurants. Club revenue has to cover the club.

    Bottom line is that casino profits to me are surprisingly low.

  8. #8
    Just looked it up. MGM Grand has 5,000 employees says the Wall Street Journal. Let's say 1,000 work in the casino. I think that's a reasonable number given all of the casino jobs. Then add in all the other costs for running the casino.

    Not an easy business.

  9. #9
    I wouldn't be arguing with him "Mr Boz". It'll never end. It's why he put this up along with his provocative bit about ap's and "Mr Singer". There is no casino action available, so this is the next best thing.

  10. #10
    What a dumb fat fuck you are Singer.

  11. #11
    Originally Posted by AndrewG View Post
    What a dumb fat fuck you are Singer.
    LMFAO!! It's good to see you back Alan.

  12. #12
    I know. He's SO offended by the fact that he can't go to the casinos and lose whatever money he has leftover from 5 failed marriages and the incapability of helping his addict son from losing his home and family, that his next best "action" is causing controversy wherever he can.

    He has hit rock bottom. May Beelzebub have mercy on his lost soul.

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