Posted on 8 Comments

Random Number Generator Explained

This post is syndicated by the Las Vegas Advisor for the 888 casino group. Anthony Curtis comments on the 888 article introduced and linked to on this page.

A.C. says: This article addresses one of the most discussed topics relative to machine play: How does the random number generator (RNG) create results? While the fact is that it really doesn’t matter in terms of strategy considerations for players, the workings of the RNG have always been of major interest for one reason, which is how it affects the timing of jackpots. This article explains when the RNG stops and how that affects jackpots, bringing home the reality that when you walk away from a machine that immediately pays a jackpot to the next player, it almost certainly wouldn’t have hit for you had you played longer.

This article was written by Jerry Stich in association with 888Casino.

Random Number Generator Explained

Continue reading Random Number Generator Explained
Posted on 3 Comments

Full House flopping; The bull case for gaming and Vegas

We tweeted after the opening of The Temporary at American Place (yes, that’s its cumbersome nomeclature) that it was “a hit.” We were wrong.

According to Full House Resorts CEO Dan Lee and CFO Lewis Fanger, The Temporary eked out just under $1.5 million in gaming revenues during its first two weeks of operation. (The State of Illinois says $3 million.) That’s $80 per gambler per day in the first week, $97 in the second, according to Lee. Full House is trying to spin these numbers as average for an Illinois casino. Trouble is, the company led us to believe The Temporary (and its eventual permanent successsor) would be above average, especially as it sits in prosperous Lake County, with outmoded, antediluvian riverboat casinos its nearest competitors. So you will forgive us if we are underwhelmed by its debut.

Stock boffins were treated to a fair amount of revisionist history by Full House. Now, for instance, opening without an Illinois database is realized to be a severe handicap. And we were told that Chicago denizens don’t drive to Lake County if they can help it. So why is Full House splurging on billboards along the expressway from downtown Chicago to O’Hare International Aiport? We’ve seen them.

Continue reading Full House flopping; The bull case for gaming and Vegas
Posted on 4 Comments

As Good as I Once Was

In 2005, country music star Toby Keith released As Good as I Once Was, a wonderfully self-deprecating song about a guy reaching middle age and not being as good as he was in his prime. In a clever twist of words, Keith sings that he’s not as good as he once was, but he’s as good once as he ever was.

If you haven’t seen the video, check it out on YouTube. It’s cute.

Continue reading As Good as I Once Was
Posted on 3 Comments

Maryland dips; Boardwalk bulletin; Biden/BIA overreach

February was moderately unkind to Maryland casinos, which were down 3.5% from last year to reach $157 million. Top-grosser of course was MGM National Harbor, flat at $65.5 million. Reliable runner-up Maryland Live was close behind at $56 million, but suffered a 6% drop. Horseshoe Baltimore faded 8% to $16 million, which seems to be the floor but also very near the ceiling for this casino. The only revenue-positive casino was Ocean Downs, up 4% to $7 million, so owner Churchill Downs knows something everyone else doesn’t. Hollywood Perryville slid 7% to $7 million and Rocky Gap Resort was down 3% to $5 million. Are we entering a cooling-off period? It’s still too soon to say.

Continue reading Maryland dips; Boardwalk bulletin; Biden/BIA overreach
Posted on Leave a comment

Caesars, MGM impress The Street; Less drag at Golden; Police blotter

After hanging out with CEO Tom Reeg and Senior Vice President of Finance Brian Agnew, analyst Joseph Greff of J.P. Morgan came away “upbeat” about Caesars Entertainment. His optimism centered on three salient points: “Las Vegas strength and momentum”; “a path towards meaningful profitability” for CZR’s digital assets; “appealing free cash flow generation.” In Sin City, Caesars appears to be making money hand over fist. Attrition in group bookings has fallen to pre-pandemic levels, ADRs are much higher (think double digits) and occupancies average 95% or so. Given the absence of such 2022 headwinds as high utility costs, Omicron and a good-but-not-great event calendar, 2023 looks as though it will be very good indeed, leading into the 2024 Super Bowl, whose benefits should be obvious.

Continue reading Caesars, MGM impress The Street; Less drag at Golden; Police blotter
Posted on 1 Comment

Greatest Blackjack Wins

This post is syndicated by the Las Vegas Advisor for the 888 casino group. Anthony Curtis comments on the 888 article introduced and linked to on this page.

AC says: These are stories of big wins in blackjack, most by way of hitting some crazy side bet. When it comes to side bets, you hear about the big jackpots, but not the multitude of losses that make these bets so profitable for the house. They might be fun to play and there’s the allure of the big score, but blackjack side bets are often among the worst bets in the casino. Basic strategy: Don’t play them. LVA gets a name-check in this article. The author, Michael Kaplan, is working on a book for us tentatively titled The Advantage Players.

This article was written by Michael Kaplan in association with 888Casino.

Greatest Blackjack Wins

Continue reading Greatest Blackjack Wins
Posted on Leave a comment

Wynn, Golden report; Excalibur kitty caper; PointsBet busted

Citing “very encouraging” trends in Macao, analyst Joseph Greff of J.P. Morgan gave Wynn Resorts a favorable notice today. Without getting too much into the minutiae, Wynn execs cited rapidly improving VIP business, 96% hotel occupancy and a 34% uptick in retail sales. Added Greff, “For the four-week period following the Chinese New Year, WYNN indicated that relative to 2019 levels, mass table drop was at 82%, direct VIP turnover was at 120%, and tenant sales were at 78%. Wow.” At those rates Macao will be back much, much sooner than expected.

Continue reading Wynn, Golden report; Excalibur kitty caper; PointsBet busted
Posted on 1 Comment

Atlantic City in winter; Ohio rebounds; Lightfoot booted

Given a slow news day, let’s finally catch up with our East Coast bureau and see what’s been happening on the Boardwalk. First off, demerits to Ocean Casino Resort for contributing in its own small way to climate change by having three open-air, gas-fired flame pits blasting forth during a light snowfall. Nearby, at the Showboat, it appears that Bart Blatstein needs to put a bit of stick about, as construction of his (much-needed) water park presently looks unlikely to finish by Memorial Day, when you expect him to want to be good and ready.

Continue reading Atlantic City in winter; Ohio rebounds; Lightfoot booted
Posted on 13 Comments

Maybe we Will Go

A few weeks ago, I wrote about a drawing at the ROW in Reno (a Caesars property where the Eldorado, Silver Legacy, and Circus Circus are all connected indoors), where Bonnie and I had each accumulated more than a half-million tickets during our stay. While that is a lot of tickets, everybody gets free tickets and daily multipliers, depending on their tier level.

I mentioned in that article that probably we won’t attend the three nights of drawings because the combination of prizes and probability of winning them wasn’t all that high. I said that would be my decision, “depending” on other factors.

Continue reading Maybe we Will Go