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   What to do when the fancy pants new casino is plunged so far into debt that it can't pay its taxes? Put it all on red... We've all been there

04 Dec 2012 11:54 AM   |   11035 clicks   |   New Jersey 101.5
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The Stealth Hippopotamus    [TotalFark]  
first mistake.


Get your arse over to the blackjack tables.

04 Dec 2012 10:44 AM
RedPhoenix122    [TotalFark]  

The Stealth Hippopotamus: first mistake.


Get your arse over to the blackjack tables.


I prefer poker. It's easier to beat a bunch of tired assholes than it is the house.

04 Dec 2012 10:58 AM
Sybarite    [TotalFark]  

The Stealth Hippopotamus: first mistake.


Get your arse over to the blackjack tables.



Pshaw, it's all about craps.

04 Dec 2012 11:21 AM
kindms     

Sybarite: The Stealth Hippopotamus: first mistake.


Get your arse over to the blackjack tables.


Pshaw, it's all about craps.


THIS.

Best odds in the house. Or if you just want to get drunk and play a game play Pai Gow

04 Dec 2012 11:56 AM
TheOther     
Revel owes millions in unpaid taxes to Atlantic City

Too big to fail, Slots Division.

04 Dec 2012 11:57 AM
Skarekrough     
Every casino I've known of has managed to pay off its note, and usually do so in at least half the expected time frame.

If you're defaulting then you've elevated yourself to a level of fark-up reserved for only the most special. Even if there's a natural disaster in play.

04 Dec 2012 11:59 AM
Sgt.Zim    [TotalFark]  

Sybarite: The Stealth Hippopotamus: first mistake.


Get your arse over to the blackjack tables.


Pshaw, it's all about craps.


Craps, blackjack or poker, depending on your preference and skills.

// Not roulette

04 Dec 2012 11:59 AM
Imperialism     
Haven't been to the Revel. Pretty much everyone seems to say "yeah, it's nice, but I'll still just go to the Borgata."

04 Dec 2012 11:59 AM
chumboobler     
They owe 1.3B and the guy is apparently blaming it on some of the bars and banquet facilities not being open? I think they need a new manager

04 Dec 2012 12:00 PM
abhorrent1     
Well Hello Mr. Fancy Pants

04 Dec 2012 12:00 PM
imfallen_angel     
At some point, they have to run out of people with gambling addiction, or those people either ran out of money, joined GA or have killed themselves.

Pretty sad... and I really have no pity for casinos.

04 Dec 2012 12:01 PM
vudukungfu    [TotalFark]  
So they think they can just disappear owing all that money?
Oh yes, they will.
"just disappear"

04 Dec 2012 12:03 PM
Lt. Cheese Weasel    [TotalFark]  

chumboobler: They owe 1.3B and the guy is apparently blaming it on some of the bars and banquet facilities not being open? I think they need a new manager


blogs.suntimes.comView Full Size


Yea, they need someone who will make sure there is the same number of blueberries in every muffin.

04 Dec 2012 12:07 PM
GlobalStrategic MapleSyrup Reserve     

kindms: Sybarite: The Stealth Hippopotamus: first mistake.


Get your arse over to the blackjack tables.


Pshaw, it's all about craps.

THIS.

Best odds in the house. Or if you just want to get drunk and play a game play Pai Gow


"Aw, I hate Pai Gow. Can't we just play Quang Jong?"

04 Dec 2012 12:11 PM
gittlebass     
maybe people would go there if that ads didn't make it seem like a hipster fashionista casino. just saying

04 Dec 2012 12:12 PM
heavymetal     
Just have them do what Donald Trump does, declare bankruptcy. I am sure all the people who matter already got theirs, that's why it is $1.3 billion in debt. Now let the banks divide what's left.

04 Dec 2012 12:12 PM
fanbladesaresharp    [TotalFark]  
Numerous Indian casinos have problems near where I live. A few do pretty well, have good management and are close-er in to population centers. Some are nothing more than an open door to a building in the most remote part of the state possible, with a marquee you can see from space and takes three farking hours to get to. Ya can't pay your dealers $20 an hour if you're only bringing in 8. Someone is going to lose. But I'm one of those types that go to Vegas for other shiat to do than gamble. I play the nickel slots with the grannies just for the free beer. I'm a cheap bastid gambler, so no help from me for the casino to cover that loan. Rides on the Stratosphere? Well, there you might separate me from my money.

04 Dec 2012 12:13 PM
gittlebass     

GlobalStrategic MapleSyrup Reserve: kindms: Sybarite: The Stealth Hippopotamus: first mistake.


Get your arse over to the blackjack tables.


Pshaw, it's all about craps.

THIS.

Best odds in the house. Or if you just want to get drunk and play a game play Pai Gow

"Aw, I hate Pai Gow. Can't we just play Quang Jong?"


Pai gow is my go to "i want to gamble and drink but not lose money for the next hour" game.

04 Dec 2012 12:13 PM
RminusQ    [TotalFark]  

Skarekrough: Every casino I've known of has managed to pay off its note, and usually do so in at least half the expected time frame.

If you're defaulting then you've elevated yourself to a level of fark-up reserved for only the most special. Even if there's a natural disaster in play.


upload.wikimedia.orgView Full Size


You rang?

04 Dec 2012 12:15 PM
rooftop235    [TotalFark]  
A couple weeks ago I turned $200 into $850 at Balterra. It covered my entire trip costs for the week. So, free vacation (even though it was Thanksgiving and I had to see family) = coolness. :-)

04 Dec 2012 12:16 PM
BarkingUnicorn     
IDK... a casino that's losing money sounds like exactly the kind of casino I'd want to visit.

04 Dec 2012 12:17 PM
Mateorocks     

Imperialism: Haven't been to the Revel. Pretty much everyone seems to say "yeah, it's nice, but I'll still just go to the Borgata."


Been to both pretty recently. I like the layout of the Borgata better than Revel, but it's easier to breathe in Revel (it's non-smoking.) I also don't think they have a poker room at Revel, but I may have missed it.

My casino preferences only extend to how much money I've walked away with from one. Borgata wins that one in a landslide.

04 Dec 2012 12:17 PM
kregh99     
How do you not make money running a casino?

04 Dec 2012 12:18 PM
johnny queso     
So the model that Atlantic City should be following for the future is a giant clusterfark that will inevitably end up costing taxpayers money somehow? Is this what they're teaching in business schools?

04 Dec 2012 12:18 PM
grinding_journalist     

heavymetal: Just have them do what Donald Trump does, declare bankruptcy. I am sure all the people who matter already got theirs, that's why it is $1.3 billion in debt. Now let the banks divide what's left.


You must have noticed that nobody actually party to the casino, its operations, or the moneyholding organizations surrounding it were quoted or sourced in any way as well. It's a writer for a casino business magazine pontificating about what might happen, or what may have caused the losses.

Nobody important or party to this will lose a cent out of their own pockets as a result of this "failure."

04 Dec 2012 12:19 PM
abhorrent1     

kregh99: How do you not make money running a casino?


i.ebayimg.comView Full Size

04 Dec 2012 12:21 PM
Englebert Slaptyback    [TotalFark]  
"You'll figure it out, Joe. You're a superb manager."

"Superb."

"Su... perb."

04 Dec 2012 12:22 PM
Lt. Cheese Weasel    [TotalFark]  
robsmovievault.files.wordpress.comView Full Size


And then, you always have personnel problems that have to be managed........

04 Dec 2012 12:26 PM
semiotix     

RedPhoenix122: I prefer poker. It's easier to beat a bunch of tired assholes than it is the house.


Who are you calling tired? Now shut up and fold to my pair of threes. ...I mean, my full house of aces over threes.

Seriously, though, they should just start charging admission. I'd pay ten bucks to get a look at the first casino ever to lose money. Hell, that's something you tell your grandchildren about.

04 Dec 2012 12:29 PM
H31N0US     
"Revel is the model that Atlantic City needs to go after if it wants to survive as a city"

How about diversifying into some other industries? There's got to be something that all those unemployed people can do.

AC is terrible. The Casinos have given nothing back to the community, or if they have, it's been purloined by the municipal government. Block after block of dilapidated houses, one block from the beach that should be worth millions yet are all crack dens. People all over the sidewalks all day with nothing to do and nowhere to go...

All this surrounded by shiny neon casinos and some of the most beautiful salt marshes in Jersey.

Mateorocks: I also don't think they have a poker room at Revel, but I may have missed it.


It's one level up from the casino floor. I stumbled across it while looking for the restaurants.

04 Dec 2012 12:29 PM
swaxhog     
Red?

i45.tinypic.comView Full Size

04 Dec 2012 12:31 PM
Lt. Cheese Weasel    [TotalFark]  

H31N0US: "Revel is the model that Atlantic City needs to go after if it wants to survive as a city"

How about diversifying into some other industries? There's got to be something that all those unemployed people can do.

AC is terrible. The Casinos have given nothing back to the community, or if they have, it's been purloined by the municipal government. Block after block of dilapidated houses, one block from the beach that should be worth millions yet are all crack dens. People all over the sidewalks all day with nothing to do and nowhere to go...

All this surrounded by shiny neon casinos and some of the most beautiful salt marshes in Jersey.

Mateorocks: I also don't think they have a poker room at Revel, but I may have missed it.

It's one level up from the casino floor. I stumbled across it while looking for the restaurants.


There is another model:

www.ufunk.netView Full Size

04 Dec 2012 12:34 PM
chewielouie     
Put it all on Red at the Fancy Pants casino?

i.ytimg.comView Full Size


Agrees.

04 Dec 2012 12:35 PM
Incontinent_dog_and_monkey_rodeo     
If you want to gamble and get drunk and not lose much money, play baccarat and bet the bank every hand, or play craps and just bet the pass line, or just play black/red on a single zero roulette wheel. All have very low house advantages. They're also very boring ways to gamble, but they take no thought and are low risk.

04 Dec 2012 12:36 PM
under a mountain     
Duh, lets open a casino and not let people smoke in it.

Brilliant!!

04 Dec 2012 12:36 PM
LeroyBourne     
t2.gstatic.comView Full Size

Maybe their employees are a bunch of mechanics?

04 Dec 2012 12:37 PM
you have pee hands     

H31N0US: AC is terrible. The Casinos have given nothing back to the community, or if they have, it's been purloined by the municipal government. Block after block of dilapidated houses, one block from the beach that should be worth millions yet are all crack dens. People all over the sidewalks all day with nothing to do and nowhere to go...


And all the old ladies in Philly who just want to play slots for 9 hours in a row don't have to go to AC any more. I think AC is headed for some serious bad times. It's not bawdy enough to grab the Vegas crowd, and the hardcore gambling addicts from Philly and NYC have closer destinations now. There are definitely some customers in the middle of those two groups but I don't know if there's enough to support the number of casinos they have.

04 Dec 2012 12:38 PM
DarkSoulNoHope     

johnny queso: So the model that Atlantic City should be following for the future is a giant clusterfark that will inevitably end up costing taxpayers money somehow? Is this what they're teaching in business schools?


I would say so, after seeing how the Bush administration treated the banks, it seems to be all about Socialized Risk and Privatized Profit these days.

04 Dec 2012 12:42 PM
H31N0US     

you have pee hands: And all the old ladies in Philly who just want to play slots for 9 hours in a row don't have to go to AC any more.


Pennsylvania's gambling revenue dwarfs ACs these days. AC still has the beach, but if all you want to do is lounge around in a windowless, clockless basement full of lights and a cacophony of bells and buzzers, then you don't have to go to AC.

04 Dec 2012 12:48 PM
you_idiot     
So their product is ... poor people? I think there is too much supply for that already.

04 Dec 2012 12:49 PM
fanbladesaresharp    [TotalFark]  

Incontinent_dog_and_monkey_rodeo: If you want to gamble and get drunk and not lose much money, play baccarat and bet the bank every hand, or play craps and just bet the pass line, or just play black/red on a single zero roulette wheel. All have very low house advantages. They're also very boring ways to gamble, but they take no thought and are low risk.


In that case, I'd pass. That's boring. I like a "game" if I pay into it, I'd just like the entertainment to not cost me a year's salary. Entertainment cost vs. benefit ya know. Strippers and booze from 7-11 and my own personal "hangover" experiment will do. At least give back to the people.

/cheap ass date.
//all about the journey.

04 Dec 2012 12:50 PM
FreakinB    [TotalFark]  

Imperialism: Haven't been to the Revel. Pretty much everyone seems to say "yeah, it's nice, but I'll still just go to the Borgata."


Haven't been there either, though I was intrigued by the idea of a more modern place that's actually on the boardwalk side of town.

gittlebass: maybe people would go there if that ads didn't make it seem like a hipster fashionista casino. just saying


The 2nd word yes, the 1st word I'm not so sure.

04 Dec 2012 12:58 PM
Carn     

you have pee hands: H31N0US: AC is terrible. The Casinos have given nothing back to the community, or if they have, it's been purloined by the municipal government. Block after block of dilapidated houses, one block from the beach that should be worth millions yet are all crack dens. People all over the sidewalks all day with nothing to do and nowhere to go...

And all the old ladies in Philly who just want to play slots for 9 hours in a row don't have to go to AC any more. I think AC is headed for some serious bad times. It's not bawdy enough to grab the Vegas crowd, and the hardcore gambling addicts from Philly and NYC have closer destinations now. There are definitely some customers in the middle of those two groups but I don't know if there's enough to support the number of casinos they have.


We DC gamblers have multiple closer options too now and even more when PG county finishes the new one in 2015. Woohoo!

04 Dec 2012 01:03 PM
Tanthalas39     
Ah, time for the thread where otherwise smart people ignore simple mathematics.

04 Dec 2012 01:04 PM
grinding_journalist     

Tanthalas39: Ah, time for the thread where otherwise smart people ignore simple mathematics.


I got a pretty good handle on them living in Vegas despite never sitting down at a single table.

04 Dec 2012 01:12 PM
cig-mkr     
Maybe they should get the cast from Jersey Shore to headline a few shows, that will bring them in...?

04 Dec 2012 01:19 PM
Gunny Walker     

fanbladesaresharp: Numerous Indian casinos have problems near where I live. A few do pretty well, have good management and are close-er in to population centers. Some are nothing more than an open door to a building in the most remote part of the state possible, with a marquee you can see from space and takes three farking hours to get to. Ya can't pay your dealers $20 an hour if you're only bringing in 8. Someone is going to lose. But I'm one of those types that go to Vegas for other shiat to do than gamble. I play the nickel slots with the grannies just for the free beer. I'm a cheap bastid gambler, so no help from me for the casino to cover that loan. Rides on the Stratosphere? Well, there you might separate me from my money.


I often wonder what those casinos are doing out in the middle of nowhere. Then it hit me. They are probably laundering the meth income.

04 Dec 2012 01:24 PM
Fissile     

H31N0US: "Revel is the model that Atlantic City needs to go after if it wants to survive as a city"

How about diversifying into some other industries? There's got to be something that all those unemployed people can do.

AC is terrible. The Casinos have given nothing back to the community, or if they have, it's been purloined by the municipal government. Block after block of dilapidated houses, one block from the beach that should be worth millions yet are all crack dens. People all over the sidewalks all day with nothing to do and nowhere to go...

All this surrounded by shiny neon casinos and some of the most beautiful salt marshes in Jersey.

Mateorocks: I also don't think they have a poker room at Revel, but I may have missed it.

It's one level up from the casino floor. I stumbled across it while looking for the restaurants.


======================

You have not idea just how far back the rot goes.....all the way to 1976 when gambling was approved in AC actually.

I was in grade school when casino gambling was approved in AC. The hype was that anyone who got in on the ground floor would get rich. My father's friend tried to talk my father into opening up a restaurant near the board walk. I recall making the trip down to AC with my dad to check the place out. Even as a grade school kid I thought AC was a disgusting shiat-hole. I don't know what my father learned on that trip.....he never said......but my dad refused to put any money into any AC schemes. My father's friend decided to go it alone......he lost every penny and his house went into foreclosure.

It's too bad that Sandy didn't send AC off to the same place as Atlantis.

04 Dec 2012 01:29 PM
BarkingUnicorn     

kregh99: How do you not make money running a casino?


Open it in Atlantic City.

04 Dec 2012 01:29 PM
groppet     

imfallen_angel: At some point, they have to run out of people with gambling addiction, or those people either ran out of money, joined GA or have killed themselves.

Pretty sad... and I really have no pity for casinos.


Thats what I was thinking this last election here in Maryland they had on the ballot a question about expanding gambling. I thought it would be a waste since most states around us have casinos.

04 Dec 2012 01:38 PM
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