The Future of Las Vegas.....

[bgeorgia]

Read Here

[Shawnee]

Nothing would make me happier than to have Frank's five years prediction about Las Vegas come to fruition.

[marcus]

I think it is more wishful thinking on Frank's part. He is bitter to what happen to him when he ran Vegas in the mid 70's-early 80's(I would be too). I think the sportsbooks are finished. Why come to Vegas when you can get bonuses and fairer odds off shore. If Florida legalized gambling, then I could see Vegas being hurt. But, how close is Florida to doing that?

[Jeff]

I agree that the sportsbooks are toast. They are a complete joke.

However, I think Vegas will be "Vegas" for many more years to come.

People will always be drawn to that town. The neon, the history, etc.etc.

True, Miami beach would hurt Vegas, because of the climate, but no more so than many of Indian Casinos.

People don't go to Vegas just to gamble anymore. If Vegas stayed the way it was 20 years ago, then I would agree it could be in trouble. But instead, they turned it into Disney Land, which was a brilliant move.

Hey, I live 25 minutes from two casinos, one of them among the biggest in the world, and I live 3 1/2 hours from Atlantic City. I would STILL rather hop on a plane and go to Vegas for the weekend, as oppossed to driving 25 minutes to the joints here.............

[This message has been edited by Jeff (edited 10-11-2000).]

[krackman]

I agree with the two above post. People have been saying this kind of thing for years and Vegas just keeps growing.

[Hamhog]

Article from Gaming Today:

Superbook to drop NBA, NHL betting

...some gaming observers speculate this could be the beginning of the end of sportsbooks in Nevada...

10/10/2000 - By Nick Pellegrino

In a development which could turn into a window of the future on two fronts, the Las Vegas Hilton will cease accepting wagers on pro basketball or hockey after Park Place Entertainment (PPE) relinquishes control of the landmark resort to Edward P. Roski, Jr.

Roski, president of Majestic Realty Co., one of the oldest and largest privately-held real estate companies in the country, took over ownership of the Los Angeles Kings with Philip F. Anschutz. He also played a key role in the development of Staples Center in Los Angeles, which also houses the NBA’s Los Angeles Lakers and Los Angeles Clippers.

"It’s a long-standing agreement I’ve had with the NBA and the NHL," Roski told GamingToday. "Any casino that I’m involved with is not allowed to take any wagers on either of the two leagues."

One of Roski’s other ventures includes Silverton Hotel-Casino & RV Resort, one of the few casinos in greater Las Vegas without a race and sports book.

"When we first started at Silverton (in a takeover of Boomtown), the sports book wasn’t a large source of income for us," Roski noted. "So we were not hurt by the loss.

"But this is happening only because I have an ownership interest, not because of possible legislation in Washington."

With the imminent demise of NBA and NHL betting at the Hilton, some gaming observers speculate this could be the beginning of the end of sportsbooks in Nevada, started in part by attempts to push the Amateur Sports Integrity Act through Congress.



Business as usual

Meanwhile, the Hilton, under the current ownership of PPE, is continuing business as usual at its Superbook until the sale in finalized.

"The Hilton will continue to take NBA and NHL action all the way up to the closing," said Richard Langlois, Vice President of Marketing for Park Place. "When the closing will take place, we don’t know."

Should the sale be approved by Nevada gaming authorities, all winning futures bets would be covered and paid, as noted by state law.

The situation is similar to the action taken at Caesars Palace in the early 1990s, which was unable to offer wagering on the two leagues when it was taken over by Marriott Corp., which was at the same time owned the NHL’s New York Rangers, NBA’s New York Knicks and Madison Square Garden.

NBA and NHL officials have noted for years that intermingling between the leagues and sports betting will not be allowed. The National Football League and Major League Baseball hold similar rules regarding franchise ownership and ventures in the gaming industry.

"Sheraton could not offer such bets in their agreement," noted Roski. "And the Maloof family, which owns the Sacramento Kings, have no NBA bets in their casinos."

Brothers Joe and Gavin Maloof took control of Sacramento’s three indoor pro sports teams — the Kings (NBA), Monarchs (WNBA) and Knights (WISL indoor soccer) – and Arco Arena in July 1999. And since then, their Fiesta Casino Hotel in North Las Vegas has been forbidden to accept NBA and WNBA wagering.



Moving on

Craig Cavalier, the Chief Operating Officer at Silverton, is slated to take over the same duties at the Hilton upon completion of the sales agreement.

Meanwhile, Chuck Esposito, who managed the Superbook for years, has already moved on and is now working at Caesars Palace, which is controlled by PPE.

Roski, a graduate of USC, also is on the board of directors for Big Brothers of Greater Los Angeles, Bowers Museum of Cultural Art, and the Los Angeles Sports & Entertainment Commission; and is a trustee at The Museum of Contemporary Art, and Natural History Museum of Los Angeles County.

The Southern California native also is on the Board of Directors of Comerica Bank-California; and is a member of both the Explorers Club and Society of Industrial Realtors.

[DeacDoug]

As Roski himself stated, this has nothing to do with current legislation. I'm sure that casinos in Vegas and Reno will always have sports books even if the feds ban college betting. The books would likely gravitate to the "back corner" of the casino (many are already there) and become small joints with a few tvs like Leroy's. Squares will still be able to lose money there on pro sports, but the professonal gamblers will have to do all their "serious" wagering off-shore if they are not doing it already. In other words, the bean counters win out. Billy Waters and like syndicates may be heros to some, but my query to those who know more than I is whether they weren't the ones who really caused LV sports gambling to become a shell of its former self. Too much money; too many followers; too much one-sided action; and, most importantly, too many winners. Although many Caribbean books are willing to take one-sided wiseguy action (NASA apparently is not one of them), we all know that slot machines are far more consistent earners for the house. Moreover, my vision of the fat gambler smoking a cigar watching a televised game inside a casino, along with my vivid recollection of the overweight "runners" wearing the same sweat suit for a week as they jot down lines on a clipboard, does not fit too well the current image that Las Vegas is trying to project.

[BigTubOfGoo]

Last time I heard this type of statement, I believe it was about the retail "brick and mortar" stores going out of business because of the .com companies.

We all see where that lead over the last year and a half! The new term: Bricks AND Clicks - I wonder why?

People want to be able to communicate and socialize with others and this is what Vegas brings (not to mention the beautiful women, entertainment, etc.) - You just can't get away from people wanting to socialize, drink with friends, share stories, while betting on their favorite game of chance or cheering for their favorite team in a "house" where everyone has a stake in the game.

I'll be out there next month and will be sure to make a donation to keep this place thriving - hell I may have already paid for that stupid lion outside of the MGM!

[scott]

"They" are now in the process of sending up a trial baloon to stave of the elimination of college betting by the Feds. Putting a $550 limit on college wagers. The theory being that it wont be attractive to bla, bla, bla. Not an endorsement, just reporting...Scotty

[Geekinstein]

Wait a minute - the combine that runs Barbary Coast is putting together a trial computerized betting scheme and I've got to believe the other biggies in *Lost Wages* aren't going to leave all those internet bucks on the table. They'll get the state boys sorted, take a hard look at all the Indian action, move in with their established names, and take over.

The Carribean connections will die like flies as the public knows the Vegas names but neither knows nor trusts the Carribean crowd. It'll be a sad thing because as soon as the flies are swatted, we'll go back to business as usual - all the funs extras and promotions we're seeing will go 'way.

[scott]

The purpose of sportsbooks in Nevada Casinos is to put bodies in the buildings and keep them there. After your sportsbook experience leave the rest of your br in the machines or go up against the tables. The last thing the corporate mentality, now deeply rooted, wants to do is open up sports betting to the world via the Net. They may use parlay cards or very, very limited side bets to schill for the action they covet i.e. casino games. If Nevada opens up on the Net the cyber casinos are history but the sportsbooks will still thrive...Scotty

[AussieVamp2]

interesting point that one there scott

when online in Vegas, will they like some of you sharks winning tens of thousands? Unlikely. If legit and legal then someone banned can go on 60 minutes too.

[Geekinstein]

Which sharks? Reno & the like? Shoot, they've got the list set already and they're pre-banned.

I'm just another fish.

[Ronbets]

Geekinstein,

With your 20/20 foresight and the handle on the schematics of the gaming industry, I'm grasping for your true idenity. Hmm..privy to a pre-planned blacklist?? Hold it.......I got it!! You are Marshall Sylver, hypnotist, illusionist extraordinaire

[auspice]

to Geekinstein

You've made a real interesting point about Vegas taking over with "their established names".

The truth is Vegas really doesn't want to be a part of internet sports betting. They didn't really want it while it was right there for them on site. But they do want the internet casino business. That's what's making their mouths water. They want the much more profitable online casino business and will pursue it feverishly.

I've been wondering why one or more of the major offshore sportsbooks doesn't "rent" the names of a couple of the major established names in Vegas. WWTS could become STARDUST/WWTS. Olympic could become
CEASEARS/Olympic. Hell why not? The "established names" in vegas are not ever going to get into the sports internet business. They've proven their heart really isn't in anything they can't control completely over and over for the last 20 years. And I don't think there would be any laws against them allowing these offshore books to rent their names.

And it would have to be great business for some offshore to have a name like Ceasars or Stardust. It would double their post-up business in a year if it's properly marketed....and keep on doubling each year for awhile. oh well.....just a thought..