#21
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Re: New AC casino plan approved, PICS
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[ QUOTE ] These new developments certainly look nice, but can the AC market support them? Competition from the new PA slot parlors and WVA table games is likely to get pretty intense over the next few years. [/ QUOTE ] That's why they're going more upscale -- to attract a different clientele than the typical slot player. They are building destination resorts on the beach that also have casinos in them. In fact, the Revel planners said they purposely did not make provisions for a bus terminal like a lot of the current AC casinos have. They don't want the day trippers with their rolls of quarters. [/ QUOTE ] True that. I always wondered how in the hell places like Showboat made money by giving ticket reimbursements and buffet comps to bus day trippers. |
#22
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Re: New AC casino plan approved, PICS
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I always wondered how in the hell places like Showboat made money by giving ticket reimbursements and buffet comps to bus day trippers. [/ QUOTE ] A typical bus comp package in AC these days is like $25-$30. The actual cost to the casino is a bit less; $5 of the comp is a food coupon that often goes unused, and the food cost is less than the food price. Assuming a 93% return at slots, your average bus customer only needs $429 of coin-in to pay that $30 back to the casino. You bet those addicts are making that up on average. |
#23
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Re: New AC casino plan approved, PICS
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[ QUOTE ] hmmmm is it possible to buy stock in these new casinos being built? [/ QUOTE ] I briefly checked into Revel, it doesn't appear to be publicly traded. MGM however, is. Their stock ticker key is MGM I've thought about this but then realized I know squadoosh about stocks. I'll stick to mutual funds, thanks. Does that make me a TAG investor? [/ QUOTE ] NO cause mutual funds cost $$$, try ETF's... |
#24
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Re: New AC casino plan approved, PICS
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[ QUOTE ] hmmmm is it possible to buy stock in these new casinos being built? [/ QUOTE ] I briefly checked into Revel, it doesn't appear to be publicly traded. MGM however, is. Their stock ticker key is MGM I've thought about this but then realized I know squadoosh about stocks. I'll stick to mutual funds, thanks. Does that make me a TAG investor? [/ QUOTE ] You can invest in Morgan Stanley (ticker MS), which is the money behind the Revel property. Their stock is pretty low right now because of the housing/mortgage issues. Could be a good time to buy. |
#25
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Re: New AC casino plan approved, PICS
The day tripper market isn't where the money is, it just took AC 25 years to figure that out. People in this industry have been screaming for this kind of investment for a long time. The infrastructure is already here, and it's a beach resort to boot. I'm really curious to see it in 5 years.
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#26
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Re: New AC casino plan approved, PICS
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You can invest in Morgan Stanley (ticker MS), which is the money behind the Revel property. Their stock is pretty low right now because of the housing/mortgage issues. Could be a good time to buy. [/ QUOTE ] I believe the only stock that's really a "pure play" on the AC casino market is Trump Entertainment Resorts, which trades on the NASDAQ under the symbol TRMP. For reasons that should be obvious to any current or former customer of the Trump casinos, this stock has been a complete dog. Of course, TRMP is really an investment in crappy old AC, not shiny new AC. Publicly traded companies with a stake in shiny new AC include MGM, Morgan Stanley, Pinnacle Entertainment, and Wynn Resorts. Resorts, Hilton and Tropicana are under private ownership, and Harrah's Entertainment is under contract to be taken private. |
#27
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Re: New AC casino plan approved, PICS
Does anybody know what the new casinos are planning with respect to Poker? Mainly, will any of them be trying to compete with Borgata for players?
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#28
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Re: New AC casino plan approved, PICS
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Does anybody know what the new casinos are planning with respect to Poker? Mainly, will any of them be trying to compete with Borgata for players? [/ QUOTE ] I haven't heard or read about their poker offerings. The Revel will be right next to the Showboat which could be direct competition for the Taj and Showboat poker rooms. I'm not sure if that would be good or bad for poker players. A nice new room would be ok but I wouldn't want the Taj or Showboat scale back on what they are offering in terms of games and tournaments. |
#29
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Re: New AC casino plan approved, PICS
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Does anybody know what the new casinos are planning with respect to Poker? Mainly, will any of them be trying to compete with Borgata for players? [/ QUOTE ] I haven't seen anything about this. However, given the size of the planned casino at Revel (>160,000 SF) I strongly suspect it will include a reasonably large poker room. |
#30
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Re: New AC casino plan approved, PICS
I was talking about the new casinos with a couple of the guys at a 1/2NL table at the Borgata on Saturday and we were wondering about this. One guy was saying that a new big room would create pressure to increase comps for poker players and make it easier for people to get poker room rates.
I was pretty skeptical of this (especially increasing comps for poker players) but was just wondering what the word was. |
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