Kennedy Lewis Investment Mgmt are the new majority owners. Dreamscape is now a minority owner. Rumors of another exec mgmt change coming.
Kennedy Lewis Investment Mgmt are the new majority owners. Dreamscape is now a minority owner. Rumors of another exec mgmt change coming.
I see a downgrade in video poker coming, unfortunate if it does. The new head honcho is a Ceasers guy, I wonder if he knows how to compete in a locals market?
Originally posted by: MaxFlavor
I see a downgrade in video poker coming, unfortunate if it does. The new head honcho is a Ceasers guy, I wonder if he knows how to compete in a locals market?
I doubt it - Ceasers ruined the Rio when they owned it.
Originally posted by: MaxFlavor
I see a downgrade in video poker coming, unfortunate if it does. The new head honcho is a Ceasers guy, I wonder if he knows how to compete in a locals market?
They'll probably wipe out not only the good VP but also the $3 craps, $10 BJ, food specials, and room bargains.
You mention the locals' market, which Rio is definitely part of, but their history has been that they try to act like they're a Strip property--delusions of grandeur. That's why they fought so hard to get the WSOP (and made such a mess of it).
For that matter, the locals' market is implementing the gouge almost as aggressively as the Strip megatoilets. The only remaining value is in what I call the "second tier" locals' market, basically all those casinos that are not owned by Boyd or Stations. The 4Q and the Plaza are outliers downtown; everything else there has turned to shit.
Originally posted by: Kevin Lewis
They'll probably wipe out not only the good VP but also the $3 craps, $10 BJ, food specials, and room bargains.
You mention the locals' market, which Rio is definitely part of, but their history has been that they try to act like they're a Strip property--delusions of grandeur. That's why they fought so hard to get the WSOP (and made such a mess of it).
For that matter, the locals' market is implementing the gouge almost as aggressively as the Strip megatoilets. The only remaining value is in what I call the "second tier" locals' market, basically all those casinos that are not owned by Boyd or Stations. The 4Q and the Plaza are outliers downtown; everything else there has turned to shit.
If the RIO follows what Lewis suggests, namely - "They'll probably wipe out not only the good VP but also the $3 craps, $10 BJ, food specials, and room bargains." - then they will be following the same pattern that the DT Grand has taken and will fail.
Im optimisitc. THey have to do something to get people in the door. The former management was on the right track - sounds like they just ran out of money.
Visitors are down city wide. Places with the best deals will win the crowds....I can faithfully say that as a certified member of the crowd.
