AC nosedive accelerating - Page 8

Gonso · #71 10-17-2007, 10:00 AM

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LOL. More so than you, bro.
I was just establishing my credentials for my opinion.

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No, what you did was focus on someone else's credentials, which is kind of a curious way to establish yourself. All I got from you was that you're making software for someone else, and went to school for 12 years.

I'd expect someone with an accounting background to be little less biased and more adept at interpreting financial data (which isn't your strong suit as Dima pointed out). You've made some pretty silly mistakes in a couple of your threads I stopped to look at. Confusing the declining revenue with loss, for example - that's pretty bad.

Gonso · #72 10-17-2007, 10:17 AM

Also, if you wanted to say most of AC is a slum or whatever, that's another matter altogether. As far as people trying to leave the city... well, that's true. You might find that has more to do with the rediculous increase in real estate value though. People do tend to sell when their properties increase more 25% in a single year.

kailua · #73 10-17-2007, 12:29 PM

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LOL. More so than you, bro.
I was just establishing my credentials for my opinion.

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Twelve years as a casino hopping transient hustler…cluster toilet connoisseur….bed ridden (sans gambling)…wasted college education….parasitic relationship with friends….two years and counting on get rich without working scheme.

Rather than blustering about your career missteps and continually touting the demise of Atlantic City casinos, it might be much more interesting if you posted details of the monumental bad beat that fuels your AC neurosis.

btw…your name wouldn’t happen to be Mayor Levy, would it?

cjk73 · #74 10-17-2007, 08:57 PM

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the casino industry here is pretty robust

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This comment by Gonso is so true it is scary. In 2006 the TWELVE Atlantic City casinos did around $5.2 BILLION in gaming revenue. The FORTY ONE!! casinos on what is considered "the Las Vegas strip" did $6.0 BILLION (source: Center For Gaming Research, UNLV, http://gaming.unlv.edu/abstract/index.html).

Clearly Atlantic City can tolerate a decrease as a result of competition. Couple that with the fact that AC is just now realizing what Vegas learned ten years ago in that people are willing to spend money on non gaming entertainment and it is easy to see there are plenty of growth opportunities.

OP still has not addressed my question as to why a wildly successful company like MGM/Mirage would announce plans to make a $5 billion investment in a dying market. Certainly they must be aware of the same figures that OP shares with 2+2 on a monthly basis.