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Thread: Future WSOP home? Caesars to build large "Caesars Convention Center" on strip

  1. #21
    Quote Originally Posted by GambleBotsChafedPenis View Post
    Quote Originally Posted by Sanlmar View Post

    In 2007 I lived at Foxwoods for about 6 months.

    Just prior to my stay I gave them a night of heavy action in the pits. They had never seen me before and rated me off that. They gave me a black card.

    So I had a lot of points and I was entitled to free rooms by virtue of the Black Card except for certain holidays and some weekends. For $25 of points I would go to the Spa every afternoon as I started my day. Work out, take a steam, sit in the sun and generally wake up.

    I would see one of the Foxwoods hosts there almost every day at the same time. He introduced himself. He clearly knew I was unusual in that I was there daily. He was always very pleasant but I stayed private as is my habit. I really had no clue what possibilities he represented.

    In retrospect, especially at the end of the go-go years, I coulda asked for nearly anything and probably have gotten it. We had a casual but distant friendship over the weeks. I have since been told that if you don’t ask you don’t get it.

    Gambling rebates are a classic example. If you don’t negotiate it you don’t get it.

    I was just playing poker. But still... Shows, golf, occasional high roller suite. I’m sure I could have gotten hooked up if I just asked.

    These days I just sports bet. The sports book manager or even the counter will give you passes to restaurants but that’s about it. Maybe a room occasionally. So that’s as close as I ever got to “the life” of the privileged player.
    interesting...wonder how their business was back then...this was the start of AC going into the abyss...guess if you don't know that it's coming it might just seem like a few bumps in the road...don't know if foxwoods felt the PA effect or not...

    wonder what's gonna happen when encore opens...hoping the games are gonna be good...
    2002-2006 were hyper good times. Everyone was loaded and plush with real estate equity. The poker boom brought people to the casino. It was a whole new clientele. Casinos were cool. Foxwoods was printing money.

    I was there just as they opened the MGM tower. Was it a billion? I forget. The financing deal was bad for them. Rotten timing too as the housing crisis happened. They were fucked but I don’t think it was clear to them yet.

    They were reeling but hadn’t made any changes. Comps were still insane.

    I become very friendly with all the workers. Poker room manager, craps crew, everyone. The buffet workers, lol. They were in the midst of trying to organize with the Steel Workers union. Thus, their mood was such that they would tell you everything. It was a Golden moment in time. The knowledge gained is what started my fascination with how casinos ran.

    Foxwoods is fucked. They have been for some time. They refinanced. They have more revenue streams from retail etc. They are a shell of what they once were. Encore Boston could be a fatal blow.

    There are other Mass casinos. New York and Rhode Island too. The market is carved into ever smaller pieces. You know the drill.

    Once Foxwoods was an east coast monopoly. They are a mammoth facility. Used to claim to be the worlds biggest poker room.

    The pie gets smaller but idiots like Wynn are building monoliths like it’s Treasure Island 1993. 2.6billion. Mass is going to have online sports wagering. The lottery system is going online. There are other casinos being built. Encore has no shot. An economic correction and it will become a minimum security prison for Trump appointees.

    Not only is Foxwoods now a seedy dump but Wynn’s Encore needs to stay on your radar. You will always remember me as you follow their struggles.

    You MUST read a history of how Foxwoods began. They were the first to argue the Indian angle which became the norm for the country. Very instructive. There was one individual who spearheaded the Foxwoods growth from a bingo tent. He was just a short order cook who wasn’t afraid to take shots. Fantastic character driven story.

    Last edited by Sanlmar; 05-03-2019 at 07:16 PM.

  2. #22
    Mohegan also has around $800 milly in debt

    these casinos, even Encore, gonna be in for a rude awakening sooner or later (although I still think Encore poker will be bumpin once its live and had a few months to settle in)

    "Donk down, that’s what you say to someone after they have lost 28K straight?" - Phil Hellmuth, online

  3. #23
    Quote Originally Posted by Shizzmoney View Post
    Mohegan also has around $800 milly in debt

    these casinos, even Encore, gonna be in for a rude awakening sooner or later (although I still think Encore poker will be bumpin once its live and had a few months to settle in)
    nice article shizz..

    “There will be some negative impact, but we hope to offset that with growth in amenities,” he said. “We have dealt with expanded competition before.”


    seriously the gaming industry is filled with a bunch of motherfucking retards...

  4. #24
    GBCP, why didn’t you tell us about MGM laying off 1000 people?

  5. #25
    Quote Originally Posted by Sanlmar View Post
    GBCP, why didn’t you tell us about MGM laying off 1000 people?
    TBH I don't keep up with any industry specific stuff outside of the monthly AC results just so I can get my hearty monthly chuckle...

    interesting, but cant say overly surprised...guessing it's cutting corporate fat? hoping that's the case...caesars tried to get by with cutting a bunch of housekeepers and shit like that...I get the whole running leaner and meaner type stuff casinos are trying to do, but don't get it...I know at caesars I didn't get paid shit relative to what I could get in other finance roles so if they're resulting to cutting the "fat" they're not cutting much since they don't pay any of their people except when you get to the tippy top of the pyramid very much...maybe MGM actually pays their employees a decent wage...

  6. #26
    The only thing that is complete now is part of the parking lot.

    Caesar's Forum should be completed sometime in the summer of next year.

    They are already booking some major conventions for next summer 2020.

  7. #27
    I will wager WSOP shall remain at Rio for 2020. and 2021...i take 5-1.

  8. #28
    Owner Dan Druff's Avatar
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    Seth Palansky claims that the Rio will be the WSOP's home at least through 2021:

    My reaction to Palansky's claims:

    1) For sure it will be at the Rio in 2020, for the reasons Palansky stated.

    2) I believe he is overstating the likelihood that it will be there in 2021. Even if they technically have a contract with the Rio through then, and any new owners would be required to abide by it, I doubt Caesars would want it there if it weren't their property. The WSOP brings A LOT of money to the Rio, via hotel rooms, restaurants, and non-poker gambling. I doubt they would want the new owners reaping such benefits of their brand for free.

    However, I now believe they will probably leave the WSOP at the Rio for as long as they still own the Rio, even if the Caesars Convention Center is ready well in advance of the 2021 WSOP. As Palansky said, they can sell the convention space to others, rather than "wasting" it on the WSOP. Additionally, as he also pointed out, they don't have to retrofit anything for the Rio to work as WSOP space.

    I really do believe that it moves there once the Rio sells, though, unless the sale is poorly timed (such as occurring in April), to where there isn't enough time to prepare or clear the convention space. That's also probably why they've already booked the Rio an extra year past 2020.

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