The Official Arena Thread Part 6
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12-27-2012, 05:18 PM
Join Date: Jul 2008
Originally Posted by
About once a month the house has a losing night. Sometimes it's minor, some times it's bad. I've seen nights where the casino also only profits a few hundred dollars. It's the nature of gambling. Slots are basically a guaranteed form of income over time, VLT's even more so however. Slots/VLT's can have losing nights, but over their life they will always fall into the formula where they pay out a certain percentage of what they take in. Slots that are in casino's are legally required to pay out a minimum of 85% of what they take in, so the casino over time makes 15 cents on the dollar for every slot. VLT's have a much bigger margin though, it's closer to a 60/40 split. Table Games can be a total crapshoot. But they are also very rarely big money makers, except of course for high limit rooms.
The ONLY income that a casino is sure to make on any given night is from poker. It's the best thing for a casino because it's purely no risk/all reward as long as you have a half decent dealer working for you. If they can pump out hands, you are making money on the rake.
And sorry, it kinda seemed like you might have taken what I said earlier about the people against Katz. I didn't mean that you were one of those guys that are basically against everything he has been trying to get done, but some guys around here have been. And honestly, if people knew who owned the other casino's and how little they gave a damn about Alberta (with a few exceptions), having someone like Katz as an operator would be pretty awesome. There has been a buzz running through the industry for nearly 8 years about Katz owning a casino, and many people were happy with the idea of him getting the Baccarats old stomping ground because a lot of casino workers are really not fan of that particular ownership group.
Fair enough and a valid point about Katz owning the Baccarat. As an insider I'm sure you can provide much more insight on the current state of ownership.
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