LVOptiontrader

How did it go?  I don't see a lot of bonuses in LV.  FanDuel and etc offer big bonuses don't operate in LV.

CIN rolls here and keeps up momentum.

I love betting NCAAF, MLB, Tennis and PGA.  Does anyone else feel there are more dogs winning in the WTA then any other sport?  You bet ML on a NCAAF team you know you are getting the better team, MLB first 5 innings you have the better starter and pay for it, then WTA dogs seem to win over favorites all the time.

I was a pit boss in The Palms casino in LV back in 2008-2010 when it was THE place to be seen.  I'd usually have 5 blackjack tables and one roulette table in my section.  My roulette table would always make $4,000 - $6,000 in a shift.  For the poster that mentioned European wheels, there is a few in LV.  However, they jack the minimums up to double or triple what you find on the normal wheel on the floor.

Does anyone else feel there are more big underdog winners in WTA than any other sport?  

Thank God Gauff retired.  She kept my parlay alive.

@I_Need_A_Detox

 Detox what do you think of Polygon MATIC?

@I_Need_A_Detox

 Did you ever find an apt complex to invest in?  The wife put $30,000 in a REIT.  I'm watching some condos in a ski resort area to purchase and then AirBnB.  Supply is going up and they are starting to get competitive.  Still far from 2021 prices, so I will hold.  What are your current thoughts?

@smartguides

 Of course, Euro with one zero is better, but there is usually massive minimum bets to play on them. Some casinos in LV now have three zeros and people still play them. Just like the idiots at Aria playing $50 and $100 mins on automatic shufflers. 

When I was a pit boss at The Palms in 2008, my roulette table would make $5,000 - $6,000 every swing shift. It was automatic cash for the casino. Those Christmas Trees the signs showing the recent number is the best thing to happen to roulette. 

LV is definitely getting crushed.  Governor Sisolak has capacity at 25%.  Many casinos are operating on skeleton crews till things get back.  The casinos were having more employees work 32 hour weeks, so they can pay more people. Now the Unions are demanding employees work 40 hour weeks.  So, some will just get canned and they will give those with the most seniority 40 hours.  I walked thru Venetian, Palazzo, Wynn and Encore last week.  They are dead!  It is eery.  Encore is only open weekends, but they still are open for slot play and may be have a game or two open and a bar.  There was two people playing the slots.  Palazzo has a mall attached to it and there is more employees than visitors.  

Real estate market is on a roll.  Lots of California buyers purchasing homes.  Hopefully, they don't vote for the same policies they choose before.  Doubtful though.

Most companies have a policy against playing at your own property.  Too much temptation to for a slot tech or someone, to jump on a game after their shift.  Most employees never even visit the property they work at.  If you get drunk or into a fight at a bar or nightclub on property, your job is at jeopardy.  I think Wynn Casino employees had to notify their Supervisior if they came back on property to visit a restaurant, bar or see the show.  Binion's Casino back in the early days would let employees gamble on slots even during the shift.  A dealer is on his 20 minute break and would go over to the machine and fire up a cigarette.

It happens all the time in LV.  My first day dealing Baccarat, Archie Karas comes in and sits down across from me.  He bets $2,000 - loses, bets $2,000 - loses, bets $500 - loses and gets up to leave.  He got taken for all he had in his pocket that day in 90 seconds.

When I was a Pit Boss at Palms, I would see drunk people come down from Playboy Club or Moon Nightclub and try and double and end up chasing on roulette.  That game would bring in $5,000 - $8,000 on one shift.

Wait a few days and go back if you like the place.  They ban so many people all the time, yours will be forgotten about.  I was banned from card counting at Suncoast Casino off the Strip.  Two days later I was back in there playing.  So, what they have your picture in a 3 ring binder, with thousands of others.

Biden doesn't molest.

Wynn is supposedly paying out 7 Million a day in salary & benefits between the two properties.  I don't see them continuing to pay salaries much longer if they can't open in June.  Limits on how long you can play would be a huge hassle.  Imagine a timer on each machine, what a joke.  It will be interesting to see the mailers that come out.  I'd like to stay at Wynn and use their pool for a summer day if it is at a good rate.  I'm sure GVR & Red Rock will have some tempting deals.  

Bottom line is Las Vegas was leaking before COVID.  The Rio was sold to Caesars in 1999 for $888 million.  Caesars sold is last year for $516 million.  The Cosmopolitan has been for sale for years, the land under Suncoast is for sale, MGM trying to sell land with a long term leases.  Caesars in debt up to their eyeballs.  Hopefully, the restructuring and slow openings will somehow be for the best.  

It should have read, "I have not seen a significant reduction in home prices,"

Unbelievable, what has happened in the past 3 months.  LV Convention Center cut many employees and are not expecting many conventions for a long time.  SEMA in October, is up in the air and my insider suggests they don't want to open till CES in January. The current casino openings scheduled will be Wynn, but not Encore ASAP.  MGM will open NYNY & Bellagio in June 2020 followed by Park MGM (the old Monte Carlo, next to T-Mobile) in October.  The MGM Grand is Jan 2021, Luxor Mandalay Bay in March or April 2021, Aria in August of 2021 followed by Mirage in November of 2021.  Of course, all will be adjusted based on occupancy and earnings +/-. Red Rock Resorts formerly known as Station Casinos for those that like the off Strip properties will open Red Rock, Green Valley Ranch, Sunset Station, Palace Station and Wildfires.  Fiestas, Texas Station and The Palms have no opening date.  It seems The Palms is for sale.  Not good for Red Rock Resorts, since they purchased Palms for $312M, did a terrible renovation for $690M and now will keep closed. Glad I left my position as a Pit Boss 10 years ago. 

Local restaurants that offer curbside food, have survived, but many owners may be closing soon.  Having two chefs, a waiter delivering food curbside and a person answering the phone is fine.  But, opening at half capacity when there is already small margins will not work.  My insider at Hakkasan Group doesn’t think the nightclubs will reopen till Spring of 2021.  The days of Rehab pool parties and people everywhere are over.  All golf courses are back open.  I played LV National last Friday and you get your own cart and there is a noodle in the hole.  I play Aliante & Sienna over the weekend. 

The ER’s are not crowded with COVID patients and we have not seen major pressure on the hospitals.  The Convention Center and Cashman Field were prepared to be overflow and didn’t need to be set up.  Valley Health Systems which operates Summerlin, Centennial, Henderson, Spring Valley ER and others is cutting their employee hours for the second time.  There just isn’t many patients coming in for COVID or other concerns.  Bloomberg had an article about the owner KKR and declines in business of 65% - 75% nationwide and it is the same here in LV.

Obviously, there will be a slow recovery.  The casinos may only have a day shift and swing shift operating table games.  BJ will only have 3 players, Roulette 4 players and Craps 6 players per table.  I wouldn’t be surprised if the casinos added a touch screen in place of chips and ticket in ticket out procedures for table games as they have for slots.  The remaining employees will go back to different shifts and most likely partial hours and be glad to have them.  Lots of middle management will be unnecessary and let go.  MGM laid off half of their casino Presidents.  I have seem a significant reduction in home prices, but I’m sure with forbearances and other systems put in place by US Gov’t has slowed it down.  I wouldn’t be surprised to see a mass exodus of population, since tourist industry and construction are such major players here in the valley.  I would estimate 200k could leave.  It will be interesting to see how many kids show back up to private schools and the Clark County School District in August.  The real details will be in August of 2021 versus August of 2019. 

Hopefully, the Raiders and Golden Knights will bring tourists back.  As for now, I’m enjoying the very light traffic during rush hour, awaiting sports to start back up and watching for investment opportunities.  Good luck friends!

The current casino openings scheduled will be Wynn, but not Encore ASAP.  MGM will open NYNY & Bellagio in June 2020 followed by Park MGM (the old Monte Carlo, next to T-Mobile) in October.  The MGM Grand is Jan 2021, Luxor Mandalay Bay in March or April 2021, Aria in August of 2021 followed by Mirage in November of 2021.  Of course, all will be adjusted based on occupancy and earnings +/-. Red Rock Resorts formerly known as Station Casinos for those that like the off Strip properties will open Red Rock, Green Valley Ranch, Sunset Station, Palace Station and Wildfires.  Fiestas, Texas Station and The Palms have no opening date.  It seems The Palms is for sale.  Not good for Red Rock Resorts, since they purchased Palms for $312M, did a terrible renovation for $690M and now will keep closed. Glad I left my position as a Pit Boss 10 years ago. 

Local restaurants that offer curbside food, have survived, but many owners may be closing soon.  Having two chefs, a waiter delivering food curbside and a person answering the phone is fine.  However, Clark County Health District making them close the bar part of restaurant, no video poker, only half of the tables, half capacity, with staff and lease expenses will not make is feasible on small margins in the industry.  Yes, lots of restaurants have a bar section and table top video poker, if you have never seen.  The night club industry which ushered in the wild side and high drink prices has been devastated.  My insider at Hakkasan Group doesn’t think the nightclubs will reopen till Spring of 2021.  The days of Rehab pool parties and people everywhere are over.

Obviously, there will be a slow recovery.  The casinos may only have a day shift and swing shift operating table games.  BJ will only have 3 players, Roulette 4 players and Craps 6 players per table.  I wouldn’t be surprised if the casinos added a touch screen in place of chips and ticket in ticket out procedures for table games as they have for slots.  The remaining employees will go back to different shifts and most likely partial hours and be glad to have them.  Lots of middle management will be unnecessary and let go.  MGM laid off half of their casino Presidents.  I have seem a significant reduction in home prices, but I’m sure with forbearances and other systems put in place by US Gov’t has slowed it down.  I wouldn’t be surprised to see a mass exodus of population, since tourist industry and construction are such major players here in the valley.  I would estimate 200k could leave.  It will be interesting to see how many kids show back up to private schools and the Clark County School District in August.  The real details will be in August of 2021 versus August of 2019. Hopefully, the Raiders and Golden Knights will bring tourists back.  As for now, I’m enjoying the very light traffic during rush hour, awaiting sports to start back up and watching for investment opportunities.  Good luck friends!

“The racetrack is the one place where the windows clean you.”

Jimmy The Greek