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#12
03-08-2007, 10:09 PM
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Re: Venetian: $1 Max Rake for 8-16 & 15-30; $2 Time for 30-60 & 60-120
[ QUOTE ]
[ QUOTE ] I like that reduced rake. The Venetian has the nicest looking poker room in Las Vegas already. They should get a lot of new players there. [/ QUOTE ] yep, just the type of players I'm looking for in my games, players that know what the rake is.. oh wait, those are not the players i want to sit with.. pretty cool none-the-less.. [/ QUOTE ] I think the key is just to get a game that is reliably running so that the casual player can rely on it as well. I would imagine that the makeup of the Venitian hotel guests and the Bellagio hotel guests are fairly similar, so there should be some nice casual players to feed the game from there. It's not like the stratosphere or someplace like that is trying to establish themselves as the place to go for mid limits while their hotel guests are paying $29 a night. I think its great that the Venitian is trying to make the Vegas poker landscape a bit more competitive. Someone needs to give Bellagio a run for their money. During the WSOP I played a lot of the 40/80 at Venitian and they took care of the players extremely well in regards to time charges and comps. 
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#14
03-08-2007, 10:39 PM
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Re: Venetian:
[ QUOTE ]
yep, just the type of players I'm looking for in my games, players that know what the rake is.. oh wait, those are not the players i want to sit with.. pretty cool none-the-less.. [/ QUOTE ] Live, there are a lot of very very bad loose passives who get mad if you don't chop the blinds, and know exactly what the rake is.
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#15
03-08-2007, 11:18 PM
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Re: Venetian: $1 Max Rake for 8-16 & 15-30; $2 Time for 30-60 & 60-120
[ QUOTE ]
so the venetian poker room won't be making money any time soon. [/ QUOTE ] Wrong. The Venetian will be getting more 8/16 to 30/60 players now. Many of those players will also play blackjack, slots, craps etc and spend more time and money in the Venetian casino.
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#17
03-08-2007, 11:31 PM
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Re: Venetian: $1 Max Rake for 8-16 & 15-30; $2 Time for 30-60 & 60-120
I agree - I will definitely play 40-80 there when I'm out for the WSOP if the game is going.
They spread 15-30 or 30-60. The Venetian does not spread a 40 game.
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#18
03-08-2007, 11:42 PM
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Re: Venetian: $1 Max Rake for 8-16 & 15-30; $2 Time for 30-60 & 60-120
I really like the Venetian but they need to lose the $4 chips for the $8-$16 (if they haven't already). Looking forward to checking this out next weekend.
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#19
03-08-2007, 11:54 PM
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Re: Venetian: $1 Max Rake for 8-16 & 15-30; $2 Time for 30-60 & 60-120
[ QUOTE ]
[ QUOTE ] so the venetian poker room won't be making money any time soon. [/ QUOTE ] Wrong. The Venetian will be getting more 8/16 to 30/60 players now. Many of those players will also play blackjack, slots, craps etc and spend more time and money in the Venetian casino. [/ QUOTE ] More importantly, the poker room will still make a minimum profit with the $1 rake. Live poker tables cost $9-$12/hour to run (according to Caesars Palace's poker room manager). They should be able to drop >$12 per hour with a $1 max rake.
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#20
03-09-2007, 12:30 AM
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Re: Venetian: $1 Max Rake for 8-16 & 15-30; $2 Time for 30-60 & 60-120
[ QUOTE ]
Live poker tables cost $9-$12/hour to run (according to Caesars Palace's poker room manager) [/ QUOTE ] This number is low. There are economies of scale as you have more tables, but I don't think even the largest rooms could get it down that low unless they never provide any benefits to dealers. A good rule of thumb someone taught me was 1.5X the dealers salary for what it costs to employ them. If the dealer makes $6/hr that is $9/hr jsut for the dealer. The biggest cost for spreading the game is the drinks. If a place charging a minimum rake cut out the free drinks theywoudl be shooting themselve in the foot because many of the players that make the games good are there for the drinks. If you say $9/hr for the dealer and $10/hr for the drinks (my experience is the number is much higher, but typically that is an accounting thing where they charge it to the poekr room and it shows up as a profit for food and beverage) you are up to $19/hr to have the game open and this is before you employ any floor staff (floorman, brush and chip runners) or any cashiers. Those are were economies of scale come in, but only to a point because after you add enough tables either the service suffers or you have to hire more support staff. The $9-$12 an hour is still low, but it is much closer to the cost of opening one additional table.
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