Vegas Casinos seeing red

CNN Money says Vegas casinos are bleeding.
People are flocking to the restaurants and shows, but gambling is down. Way down.

Nevada casinos hit by massive losses

 

Holy shit, Dick Whitman's system really worked.

 

Well, duh. It's a saturated market there, and in many other locales, you have casino gambling a short drive away

 

The limits to play are insane. On a moderately busy night, forget $5 tables, you'll have a hard time even finding a $10 table. That drives a lot of people away.

For gamblers, I don't think there's any place in America that isn't within 100 miles of a casino with blackjack and possibly craps and the other stuff. Vegas gambling conditions are the worst. In addition to the limits, I know when I was actually going and looking at stuff like this, other cities always gave better odds on craps and often had better blackjack payouts.

I don't know when I'll ever get back there, but I sure don't miss it.

 

But the hos make it worth it.

 

I make pretty good money... but I am shocked in vegas how at every casino, there are tons of $10/$15/$25 blackjack tables. I love gambling, but no way I am sitting down to $25 tables...$10 min craps (with backing odds, you know how much that costs)... WHO ARE THESE PEOPLE??

 

Heck, you'll have trouble finding $5 tables in Atlantic City and other surrounding casino areas. During prime time, even $10 is a stretch.

 

Maybe we should start a charity to provide more $5 tables for middle-income gamblers.

 

Same for Vegas.

Btw, I *HATE* this article. Define "losses"... what exactly making up the "losses"? Is it actually losing money on the gambling tables? Highly doubtful.

What constitutes these so-called "losses"? It isn't defined in the article.

 

Wait, are you implying these casinos may be as poor as major college athletic programs?

 

Just go downtown for $5 tables. Hell, playing red chips at the El Cortez will bring heat.

If you're going to play where your girlfriend wants to get her spa session or day drink at the pool then, yeah, you're probably not going to find a $5 table.

I'm in a far better place, financially, than even a few years ago but I won't sit at a table unless it's a 40-1 ratio on my cash on hand/minimum bet. No green chips unless I have $1000 on me.

On top of this, more Strip casinos are paying 6:5 out on blackjack. Tourists don't care but any serious blackjack is not playing there. Ever.

 

Agreed, it should be in the article.

The link to the Nevada Gaming Control board document shows that total revenue is defined as "the money spent by patrons on gaming, rooms, food, beverage, and other attractions," and net income/losses are defined as "the money retained by casinos after expenses have been paid but prior to deducting federal income taxes and prior to accounting for extraordinary expenses."