Tweet
Sportsbook Scene 12/19
by Buzz Daly
Wednesday, December 19, 2001
Las Vegas Fights Economic Downturn
And Misses at Least One Obvious Solution
Daytime TV shows revel in taking dowdy, aesthetically challenged ugly ducklings on the lam from the fashion police and transforming them into radiant swans oozing glam and sex appeal.
Las Vegas, an aging dowager among resort destinations, is in need of the same type of transformation, according to a casino industry expert.
The city has fallen on lean times, and immediate prospects for getting occupancy rates up and unemployment down are daunting.
After three waves of Strip properties launched new mega-resorts between 1989, when Mirage debuted, to August 2000, when Aladdin opened, nothing with cutting edge appeal is slated to come on line until perhaps 2004, when Steve Wynn’s Le Reve is tentatively scheduled to open.
Apparently something new and different is constantly required to excite a jaded public.
The answer, asserts gaming authority Bill Eadington, director of University of Nevada – Reno’s Institute for the Study of Gambling and Commercial Gaming, is for the city to reinvent itself.
Las Vegas has a tradition of reinventing itself, he observed at a recent conference on travel and tourism. Given the current depressed economy and stagnant growth rate of visitors, decisive action is essential, he added.
It will take all of the city’s marketing savvy to overcome the absence of new properties, Eadington warned.
We agree, but believe a substantial part of the solution is simpler and less costly than erecting a few new billion-dollar resorts.
One of the answers to the city’s problems is staring casino executives in the face: start exploiting sports wagering, the only exclusive gaming option the industry possesses.
Despite inroads from offshore sportsbooks, Las Vegas still commands a marketing advantage that could lure an attractive target audience of upscale men. The gaming industry here has never taken full advantage of this franchise, by being the only place in the U.S. that offers legal, licensed bookmaking to the sports betting public.
For that lapse, we can thank the bean counters who run casinos and are convinced that the books’ low profit margins – about three to five percent – coupled with the prospects of occasionally losing, makes them unworthy of strong marketing efforts.
These boys believe in the magic of real estate deals and profitability of slot machines. It never occurs to them that the quintessential excitement of gambling, which is captured by sports betting, could be the foundation for infusing this industry with substantially increased handle.
As slaves to conventional wisdom, the “suits” tend to believe that sports bettors aren’t worth much since all they do is bet on sports.
Wrong!!
Most bettors are casual/recreational players who admittedly enjoy the rush of betting on and watching a game, preferably football. But the essential truth which escapes the casino industry is that this group of adult males does a lot more than bet on games. But the casinos refuse to see them on the radar screen.
They have full wallets, high credit limits and a voracious appetite for living life to its fullest.
Until the hot shots with fancy titles like marketing director figure out a way to harness this market and tap into its vast reservoir of discretionary dollars, these execs will continue to miss the boat vis-à-vis funneling that revenue into their store.
The most recent episode, that reflects the way casino honchos think, is the fiasco at the Stratosphere. Management there believes a thrill ride like a roller coaster is just the ticket to jack up the bottom line.
Unable to convince locals, who vigorously opposed it and objected to the idea that the ride was in everyone’s interest, Strat execs engaged in big time pouting when the plan was shot down by the City Council.
Without wishing to rain on their parade, did it ever occur to these geniuses to look around? Roller coasters abound in this market, from Buffalo Bill’s on the I-15 to New York New York.
This is so typical of those who have the ability to green light multi-million dollar projects. They insist on ignoring the obvious. Roller coaster, yes. Sports betting, a shrug of the shoulders.
Granted, sports wagering could be considered a seasonal activity, given the lack of action generated by baseball. But from August through the Super Bowl, wouldn’t it be nice for a property to look at its sportsbook every weekend and see an excitement center brimming with customers? When the games are over, where do you think they’ll go to gamble, eat, see a show?
Of course, if casinos really wanted o take advantage of what sports betting offers, they would have to become more competitive. That would mean reducing vig, lowering straddles on money lines, and offering incentives to customers.
Okay, we’ll stop beating a dead horse. Build the damn roller coaster.
WILD FIRE UPDATE. Apropos of the previous item, a new locals-oriented casino is opening up which fully intends to use the excitement generated by its crowded sportsbook as a marketing tool.
Located on Rancho, across the street from Texas Station, this spiffy new addition to the locals scene plans to open on December 27th. We visited recently with sportsbook manager Buffy McKinney, who proudly showed off the impressive facility.
In addition to eight large screens over the sportsbook, the adjacent lounge is surrounded by big TV monitors. Viewing football at the Wild Fire figures to be a lot more pleasant than at some books we can think of.
After a career of using wall boards, which involves manual changing of lines, Buffy now has a book that is fully electronic. While we were there, the final stages of construction work were being done, but it is obvious a lot of time and effort is going into this bet shop.
As mentioned last week, Buffy learned the sportsbook craft under the tutelage of Sonny Reizner, and she has been given full rein by management to implement her ideas on running a book.
Well aware of the competition, McKinney plans a lot of special touches geared for the locals crowd Wild Fire will attract. For instance, a parlay card will have a consolation prize of 20-1 for picking 9/10.
There’s lots more on the way, she promises, including special promotions and contests, and a commitment to customer service. Buffy said management has deep pockets, good intentions and is dedicated to making this casino a popular hangout for the growing population in the northwest.
Wild Fire occupies space that formerly was Ernie’s Casino, and features a wide assortment of video poker, slot machines and a pit area with black jack.
ANOTHER OPENING, ANOTHER STATION CASINO. If you live in Vegas, you know the new Green Valley Ranch, which was launched Tuesday night, is the company’s jewel in the crown.
We attended the VIP pre-opening gala that climaxed with a spectacular fireworks show. After that doors opened, the games were activated and the public entered en masse.
During the three hours before the place opened, we checked out Green Valley Ranch’s amenities and can report it is a stunning hotel-casino.
Suffice it to say, this $300 million 40-acre mega-resort could easily be situated on the Strip and not look out of place. However, its location on a hillcrest in an upscale neighborhood allows panoramic views of the entire valley and the Las Vegas Strip from its guest rooms, none of which is more than three stories high.
Eight acres of back yard – called Whiskey Beach – features a 10,000-square feet European day spa (we expect a first-hand report on this from Jimmy Vaccaro), an outdoor performance venue, a poolside cafe which offers live gaming and a pool area that must be seen to be appreciated. Adjacent to the pool are private cabanas, each with its own private plunge pool.
Inside, the casino reeks of European style splendor, and ideally the ventilation system will allow it to retain this ambiance without the stench of cigarette smoke that permeates most locals’ joints.
The race and sportsbook is a 9,500-square-feet facility that features plenty of big screen TVs including 19, 70-inch screens and three 90-inch TVs which are recessed into the ceiling.
Overstuffed chairs behind solid wooden desks impart a friendly club-like atmosphere.
Over-the-counter betting limits are more than respectable. Sides are $9,000, totals $1,000, money lines $3,000, circle games are a $2,000 limits.
NFL parlay limits are: for two to four sides, $9,000; five to six sides, $3,000; with any totals, $1,000; two to four money lines, $3,000; five to six money lines, $1,000. Teaser limits are $1,000.
Money line splits are standard with 20 cents up to -190. Typical straddles include -240 / +190 and -360 / +280.
Checking out the premises, we were delighted to see Kelly Downey, who is the sportsbook manager. We have fond memories of speaking with Kelly when he was a supervisor at the Imperial Palace back in ’97 and ’98, and we had just started doing an Internet sports betting column for SportsFan at AOL.
Kelly was and is a trusted source of solid insight and forthright opinions about this fascinating and frustrating activity, sports wagering.
Located just next door is Trophy’s restaurant, from which hungry players can have munchies delivered to them at their seats. The Southern California sports-themed restaurant offers a full menu of American cafe food including appetizers, burgers and salads.
FOOD COURT ODYSSEY. We finally got around to eating, and in the interests of giving readers a comprehensive account of the food options at Green Valley Ranch, we sampled everything in sight.
With a healthy appetite, we started at Fatburger where we had a Baby Fat and a root beer float, which surprisingly is not on the menu. But Jim, who was in charge of the fatburger stand, got us one anyway. These burgers are always a treat, and our hunger was now moderately assuaged.
Next over to Pizza Luna for a couple of slices. These were not the regular size, but a standard slice cut in half. Just the right amount of food, and the pizza was tangy with a rich sauce.
Before we got too full, we went to Stage Deli, where half sandwiches were on display. We opted for corned beef on rye, which was just scrumptious, and what we would expect from deli that comes out of the Stage.
Panda Express smelled good, so we had some fried rice and spicy chicken with peanuts. Good stuff. We try to pick and choose at places like Panda Express, avoiding the fried food.
Last stop was Dreyers, for some kona coffee ice cream. Pretty good. But we still prefer Ben and Jerry’s, which is available at Sunset.
During the course of this research, we bumped into sports radio show host Larry Grossman, a first class trencherman in his own right. Larry said the consensus plays which he gives out on his show, from top sports betting handicappers, have been disappointing this year. However, he is hopeful that between now and the Super Bowl, they will improve.
After meeting up with Larry, we scooted over to the buffet. Our tank was nearly full but we gave it our best shot. The carving station featured rare prime strip loin steak, which we cannot resist no matter how full we are.
That brought us to the seafood station, where jumbo shrimp and plump crab legs were on display. None of that peel-and-eat nonsense, these babies were ready to be devoured after dipping in a spicy red sauce. Same thing with the crab; the shells were already split so we avoided the messiness of cracking them ourselves.
Although we didn’t sample anything else, the entire buffet line here is so appetizing looking you’ll have to exercise discipline to zero in on the stuff you most prefer.
We were on a roll. Everything was delicious, and the iced tea kept the streak going. Fresh brewed ice tea is the perfect thirst quencher in this desert climate. Now if only other buffets would stop serving up that ghastly instant iced tea. It doesn’t even smell good.
We simply had no room for the outrageously rich-looking deserts available in a huge variety of cakes, pies, tarts, mousses and other delectables. Bread pudding, apple cobbler and a variety of ice creams were also offered.
Instead, we sampled a few Christmas-style cookies that melted in our mouth. Alas, we tried one cookie too many. When we bit into the gingerbread man, it was like something that was calcified. In the interests of not chipping any teeth, we passed on it.
Stuffed to the gills, we waddled to the outdoors area to watch the heralded fireworks display. But as we passed the Original Pancake House, we sampled a piece of their famous apple pancake. Another winner.
The fireworks celebration was truly spectacular, and everyone had a clear view of the proceedings. Only glitch was most of the outdoor reflective warmers which people huddled around to stave off the evening chill didn’t work.
One other negative must be noted. The craps tables offer odds of 3x, 4x and 5x, similar to what is available at most Strip casinos. However, all other Station casinos play with 10x odds.
We think is it a mistake to short change the patrons of Green Valley Ranch by this corporate decision, which is based strictly on greed. The assumption that the more affluent customers it will draw at this location are so addlepated they will not notice the difference is insulting.
We thought we’d be saying sayonara to our friends over at the craps tables at Sunset Station. But while we will go over to the sportsbook at Green Valley Ranch because it is so convenient, we hope we have the discipline not to play craps over there until they make the change to 10x odds.
Bill, Chico, Pete, Ernesto, Lori, Linda and the rest of the dice crew at Sunset – you’ll still see us trying to make a score at the negative expectation game.
Please send comments, questions, etc. to [email protected].
Wednesday, December 19, 2001
Las Vegas Fights Economic Downturn
And Misses at Least One Obvious Solution
Daytime TV shows revel in taking dowdy, aesthetically challenged ugly ducklings on the lam from the fashion police and transforming them into radiant swans oozing glam and sex appeal.
Las Vegas, an aging dowager among resort destinations, is in need of the same type of transformation, according to a casino industry expert.
The city has fallen on lean times, and immediate prospects for getting occupancy rates up and unemployment down are daunting.
After three waves of Strip properties launched new mega-resorts between 1989, when Mirage debuted, to August 2000, when Aladdin opened, nothing with cutting edge appeal is slated to come on line until perhaps 2004, when Steve Wynn’s Le Reve is tentatively scheduled to open.
Apparently something new and different is constantly required to excite a jaded public.
The answer, asserts gaming authority Bill Eadington, director of University of Nevada – Reno’s Institute for the Study of Gambling and Commercial Gaming, is for the city to reinvent itself.
Las Vegas has a tradition of reinventing itself, he observed at a recent conference on travel and tourism. Given the current depressed economy and stagnant growth rate of visitors, decisive action is essential, he added.
It will take all of the city’s marketing savvy to overcome the absence of new properties, Eadington warned.
We agree, but believe a substantial part of the solution is simpler and less costly than erecting a few new billion-dollar resorts.
One of the answers to the city’s problems is staring casino executives in the face: start exploiting sports wagering, the only exclusive gaming option the industry possesses.
Despite inroads from offshore sportsbooks, Las Vegas still commands a marketing advantage that could lure an attractive target audience of upscale men. The gaming industry here has never taken full advantage of this franchise, by being the only place in the U.S. that offers legal, licensed bookmaking to the sports betting public.
For that lapse, we can thank the bean counters who run casinos and are convinced that the books’ low profit margins – about three to five percent – coupled with the prospects of occasionally losing, makes them unworthy of strong marketing efforts.
These boys believe in the magic of real estate deals and profitability of slot machines. It never occurs to them that the quintessential excitement of gambling, which is captured by sports betting, could be the foundation for infusing this industry with substantially increased handle.
As slaves to conventional wisdom, the “suits” tend to believe that sports bettors aren’t worth much since all they do is bet on sports.
Wrong!!
Most bettors are casual/recreational players who admittedly enjoy the rush of betting on and watching a game, preferably football. But the essential truth which escapes the casino industry is that this group of adult males does a lot more than bet on games. But the casinos refuse to see them on the radar screen.
They have full wallets, high credit limits and a voracious appetite for living life to its fullest.
Until the hot shots with fancy titles like marketing director figure out a way to harness this market and tap into its vast reservoir of discretionary dollars, these execs will continue to miss the boat vis-à-vis funneling that revenue into their store.
The most recent episode, that reflects the way casino honchos think, is the fiasco at the Stratosphere. Management there believes a thrill ride like a roller coaster is just the ticket to jack up the bottom line.
Unable to convince locals, who vigorously opposed it and objected to the idea that the ride was in everyone’s interest, Strat execs engaged in big time pouting when the plan was shot down by the City Council.
Without wishing to rain on their parade, did it ever occur to these geniuses to look around? Roller coasters abound in this market, from Buffalo Bill’s on the I-15 to New York New York.
This is so typical of those who have the ability to green light multi-million dollar projects. They insist on ignoring the obvious. Roller coaster, yes. Sports betting, a shrug of the shoulders.
Granted, sports wagering could be considered a seasonal activity, given the lack of action generated by baseball. But from August through the Super Bowl, wouldn’t it be nice for a property to look at its sportsbook every weekend and see an excitement center brimming with customers? When the games are over, where do you think they’ll go to gamble, eat, see a show?
Of course, if casinos really wanted o take advantage of what sports betting offers, they would have to become more competitive. That would mean reducing vig, lowering straddles on money lines, and offering incentives to customers.
Okay, we’ll stop beating a dead horse. Build the damn roller coaster.
WILD FIRE UPDATE. Apropos of the previous item, a new locals-oriented casino is opening up which fully intends to use the excitement generated by its crowded sportsbook as a marketing tool.
Located on Rancho, across the street from Texas Station, this spiffy new addition to the locals scene plans to open on December 27th. We visited recently with sportsbook manager Buffy McKinney, who proudly showed off the impressive facility.
In addition to eight large screens over the sportsbook, the adjacent lounge is surrounded by big TV monitors. Viewing football at the Wild Fire figures to be a lot more pleasant than at some books we can think of.
After a career of using wall boards, which involves manual changing of lines, Buffy now has a book that is fully electronic. While we were there, the final stages of construction work were being done, but it is obvious a lot of time and effort is going into this bet shop.
As mentioned last week, Buffy learned the sportsbook craft under the tutelage of Sonny Reizner, and she has been given full rein by management to implement her ideas on running a book.
Well aware of the competition, McKinney plans a lot of special touches geared for the locals crowd Wild Fire will attract. For instance, a parlay card will have a consolation prize of 20-1 for picking 9/10.
There’s lots more on the way, she promises, including special promotions and contests, and a commitment to customer service. Buffy said management has deep pockets, good intentions and is dedicated to making this casino a popular hangout for the growing population in the northwest.
Wild Fire occupies space that formerly was Ernie’s Casino, and features a wide assortment of video poker, slot machines and a pit area with black jack.
ANOTHER OPENING, ANOTHER STATION CASINO. If you live in Vegas, you know the new Green Valley Ranch, which was launched Tuesday night, is the company’s jewel in the crown.
We attended the VIP pre-opening gala that climaxed with a spectacular fireworks show. After that doors opened, the games were activated and the public entered en masse.
During the three hours before the place opened, we checked out Green Valley Ranch’s amenities and can report it is a stunning hotel-casino.
Suffice it to say, this $300 million 40-acre mega-resort could easily be situated on the Strip and not look out of place. However, its location on a hillcrest in an upscale neighborhood allows panoramic views of the entire valley and the Las Vegas Strip from its guest rooms, none of which is more than three stories high.
Eight acres of back yard – called Whiskey Beach – features a 10,000-square feet European day spa (we expect a first-hand report on this from Jimmy Vaccaro), an outdoor performance venue, a poolside cafe which offers live gaming and a pool area that must be seen to be appreciated. Adjacent to the pool are private cabanas, each with its own private plunge pool.
Inside, the casino reeks of European style splendor, and ideally the ventilation system will allow it to retain this ambiance without the stench of cigarette smoke that permeates most locals’ joints.
The race and sportsbook is a 9,500-square-feet facility that features plenty of big screen TVs including 19, 70-inch screens and three 90-inch TVs which are recessed into the ceiling.
Overstuffed chairs behind solid wooden desks impart a friendly club-like atmosphere.
Over-the-counter betting limits are more than respectable. Sides are $9,000, totals $1,000, money lines $3,000, circle games are a $2,000 limits.
NFL parlay limits are: for two to four sides, $9,000; five to six sides, $3,000; with any totals, $1,000; two to four money lines, $3,000; five to six money lines, $1,000. Teaser limits are $1,000.
Money line splits are standard with 20 cents up to -190. Typical straddles include -240 / +190 and -360 / +280.
Checking out the premises, we were delighted to see Kelly Downey, who is the sportsbook manager. We have fond memories of speaking with Kelly when he was a supervisor at the Imperial Palace back in ’97 and ’98, and we had just started doing an Internet sports betting column for SportsFan at AOL.
Kelly was and is a trusted source of solid insight and forthright opinions about this fascinating and frustrating activity, sports wagering.
Located just next door is Trophy’s restaurant, from which hungry players can have munchies delivered to them at their seats. The Southern California sports-themed restaurant offers a full menu of American cafe food including appetizers, burgers and salads.
FOOD COURT ODYSSEY. We finally got around to eating, and in the interests of giving readers a comprehensive account of the food options at Green Valley Ranch, we sampled everything in sight.
With a healthy appetite, we started at Fatburger where we had a Baby Fat and a root beer float, which surprisingly is not on the menu. But Jim, who was in charge of the fatburger stand, got us one anyway. These burgers are always a treat, and our hunger was now moderately assuaged.
Next over to Pizza Luna for a couple of slices. These were not the regular size, but a standard slice cut in half. Just the right amount of food, and the pizza was tangy with a rich sauce.
Before we got too full, we went to Stage Deli, where half sandwiches were on display. We opted for corned beef on rye, which was just scrumptious, and what we would expect from deli that comes out of the Stage.
Panda Express smelled good, so we had some fried rice and spicy chicken with peanuts. Good stuff. We try to pick and choose at places like Panda Express, avoiding the fried food.
Last stop was Dreyers, for some kona coffee ice cream. Pretty good. But we still prefer Ben and Jerry’s, which is available at Sunset.
During the course of this research, we bumped into sports radio show host Larry Grossman, a first class trencherman in his own right. Larry said the consensus plays which he gives out on his show, from top sports betting handicappers, have been disappointing this year. However, he is hopeful that between now and the Super Bowl, they will improve.
After meeting up with Larry, we scooted over to the buffet. Our tank was nearly full but we gave it our best shot. The carving station featured rare prime strip loin steak, which we cannot resist no matter how full we are.
That brought us to the seafood station, where jumbo shrimp and plump crab legs were on display. None of that peel-and-eat nonsense, these babies were ready to be devoured after dipping in a spicy red sauce. Same thing with the crab; the shells were already split so we avoided the messiness of cracking them ourselves.
Although we didn’t sample anything else, the entire buffet line here is so appetizing looking you’ll have to exercise discipline to zero in on the stuff you most prefer.
We were on a roll. Everything was delicious, and the iced tea kept the streak going. Fresh brewed ice tea is the perfect thirst quencher in this desert climate. Now if only other buffets would stop serving up that ghastly instant iced tea. It doesn’t even smell good.
We simply had no room for the outrageously rich-looking deserts available in a huge variety of cakes, pies, tarts, mousses and other delectables. Bread pudding, apple cobbler and a variety of ice creams were also offered.
Instead, we sampled a few Christmas-style cookies that melted in our mouth. Alas, we tried one cookie too many. When we bit into the gingerbread man, it was like something that was calcified. In the interests of not chipping any teeth, we passed on it.
Stuffed to the gills, we waddled to the outdoors area to watch the heralded fireworks display. But as we passed the Original Pancake House, we sampled a piece of their famous apple pancake. Another winner.
The fireworks celebration was truly spectacular, and everyone had a clear view of the proceedings. Only glitch was most of the outdoor reflective warmers which people huddled around to stave off the evening chill didn’t work.
One other negative must be noted. The craps tables offer odds of 3x, 4x and 5x, similar to what is available at most Strip casinos. However, all other Station casinos play with 10x odds.
We think is it a mistake to short change the patrons of Green Valley Ranch by this corporate decision, which is based strictly on greed. The assumption that the more affluent customers it will draw at this location are so addlepated they will not notice the difference is insulting.
We thought we’d be saying sayonara to our friends over at the craps tables at Sunset Station. But while we will go over to the sportsbook at Green Valley Ranch because it is so convenient, we hope we have the discipline not to play craps over there until they make the change to 10x odds.
Bill, Chico, Pete, Ernesto, Lori, Linda and the rest of the dice crew at Sunset – you’ll still see us trying to make a score at the negative expectation game.
Please send comments, questions, etc. to [email protected].