Is losing 3 casinos good for me? for you?

There has been a slew of articles written this past week about the possibility of Atlantic City losing 3 casinos in the next few years.  Right now most of the casinos are under the gun due to the economy, size and age.  Trump has filed for chapter 11 bankuptcy protection, which may actually save it.  That’s besides the point.

“In our view, there is a distinct possibility that 1-3 casinos could be permanently closed in the next few years, particularly when many older locations are barely breaking even and, we believe, cannot be rehabbed to be economically viable,” analyst Joel H. Simkins, of Macquarie Securities, wrote in a new report summarizing Atlantic City’s plight.

This is obvious to me and not really a bad thing in my eyes.   This is what happens to businesses that don’t change, often or fast, enough.  Failure will force existing businesses to get back to core values that made them successful.  This should be good for the customer.  Israel Posner sees the future of Atlantic City very similar to the way I do.

Israel Posner, executive director of the Institute of Gaming Management for The Richard Stockton College of New Jersey, also said some casinos could be shut before the nation and Atlantic City recover from the economic crisis. Afterward, he thinks a new generation of megaresorts will rise in a post-recession building boom.

“Clearly, we are in for turbulent times,” Posner said. “We run the risk of losing a couple of properties. If we think long term, I think we’ll see fewer casinos before we see more. But I do think we’ll see more. If I had to use my crystal ball, I would say within the next five years there will be more.“

I’ve been saying that Atlantic City needs to reinvent itself and this recession may for the casinos to do so.  I’m very happy that a, so-called, expert sees things like I do.

So, is losing casinos good for me and good for you?  If things play out as I see them the answer is yes.

Here is one possible scenario. 

• Hilton goes bye bye in the next year and is not replaced.  It’s on an end of the boardwalk few people visit.  I’m not sure what will happen with Resorts.  The building is old and beautiful.  If I’m trying to move a town forward I blow it up as some kind of symbolic gesture.  I happen to love old architecture and have a hard time with that.
  
• Tropicana is saved and brought up to tomorrow’s standards.
• Harrah’s sells Showboat, which gets renovated.  Harrah’s may also sell Bally’s if they divest the brand.  If they don’t they renovate the Claridge tower to become an upscale vintage hotel.  Harrah’s would keep Caesars because of the brand and location.
  
• Revel is finished and beautiful.
• Pinnacle sells the land where Sands used to stand.  A new casino is built out to the boardwalk.
• Trump has already sold the Marina.  That leaves Taj and Plaza.  Taj will be saved by someone and possibly renovated since a new tower was just built.  I’m really not sure about the Plaza.
• If another casino is built I am guessing there will be another built at the marina.  Harrah’s was recently renovated, Borgata just added the Water Club and is renovating their regular rooms.  Margaritaville will be built soon.  This may become fertile area for another new hip spot.  It may also have too many new-ish properties.  I’m not sure.

This is all just a hypothetical scenario.  I welcome change as well as competition.  It’s one of the many reasons I love Las Vegas and I would love to love Atlantic City in a similar way.

Quotes in this article are taken from this article in the Press of Atlantic City.

Harrah’s Resort AC – Review

I took my first trip to Harrah’s Resort in Atlantic City (AC) since it has been remodeled.  It’s been about 4 years since my last trip and my only memory was that I lost a lot of money very quickly and left.

The Hotel

The current design is very modern with good lighting and clean lines.  This is very much to my tastes.  Needless to say I really like the overall design.  The crowd was a mixture of geezers during the day and younger people at night.  In fact there were a ton of hot girls Saturday night.  The same can’t be said for the other Harrah’s properties in AC.  The crowd rivaled that of the Borgata and Tropicana.

Upon check in we were told that an entire tower (Bayview Tower) was closed and that they never do that.  Between the economy and a pending snow storm this was a way to save on expenses.  We were asked which tower we’d like and asked for the new Waterfront Tower.  The room continued the modern design from the casino and was pretty big and had a 42″ LG HDTV, great bed, 2 chairs and lighted closet.  The bathroom had a separate water closet for the toilet and a shower only.  I prefer a shower to a tub any day.  The bathroom was a little small and felt like there was always a door in the way.  (Side note: I’ve seen complaints of people that can’t find the HD channels.  These people are dumb.  They are the same location for all Harrah’s properties.).

Overall this was one of the nicest rooms I’ve stayed in AC.  Comparable would be Showboat Bourbon Tower and Bally’s Garden Tower.

Gambling!

I dabbled in a little bit of everything this weekend.  I played everything from 5 cent slots to $5 slots and $25 hands of blackjack.

Here’s a quick breakdown of Saturday.

5 cent Monopoly – result WIN
$1 Video Poker – result WIN
.25 cent Video Poker Bar – result WIN (Too many Corona’s)
Nap time!
The Steakhouse – review below good not great
3 Card Poker – $10/$15 hands playing 3 hands at times – result WIN
$25 BJ – result LOSS
$1 Video Poker – result WIN
After a late night snack I called it a night around 4am.

Overall, Saturday was one of my best days of gambling in a while.  Almost everything I touched was a winner.  There was one loss on the day.  After a great time at a 3 card poker table I wandered around the casino and my eyes were drawn to a stunning blond dealer.  This are of the casino had dealers in different outfits from the rest.  They were similar to cocktail waitress dresses with a lot of cleavage.  I couldn’t resist taking a seat as she was about to open a new shoe.  There were a few winners at the table.  I was not one of them, but it was a great table and a good time.  Note to self: Do not be swayed by the looks of a dealer.

Even though there were few full pay machines as noted in a previous post, I had no problem getting on one of them at any time.  Due to the small gambling crowd, there were a lot of open video poker machines.

The most crowded machines were the wide variety of slots.  The area between the game tables and Poker bar in the back of the casino was PACKED on Saturday.  Recently I found fun in nickle slots.  I play the games with fun bonus rounds and have a blast.  I’ll place a bill in and see how it goes.  I’m a pretty simple person.  Show me loud noises and lights and I’ll find a way to have fun.

The other item of note on Saturday night was that there were a lot of people out at the bars and pool.  I enjoy looking at hot girls and this was a treat.  For the 3 hours after dinner there was a lot of eye candy.  This is something that the other Harrah’s properties lack and something that will draw me back to Harrah’s in the future.

On to Sunday…

$1 Video Poker – Result LOSS
5 cent slot – slingo – Result LOSS
Toasted bagel n decaf – Room – down to Sack o Sub for a bacon & egg sub
.25 cent Video Poker Bar – result LOSS (Bar for eagles game Was dead
$5 Video Poker – Result EVEN
$25 Blackjack – Result WIN
.25 cent Video Poker at X Bar Bar – Result LOSS
$5 Video Poker – Result LOSS
.05 cent slot Bonus Frenzy – Result LOSS

Sunday was much of a day of recovery fueled by mostly minor losses.  I ended the night by midnight because the casino was dead.  What really surprised me (and the bartenders) is how dead the bars were.  With the Eagles playing the Giants they were expecting big crowds at the bar.

It was back to work on Monday so I had an early departure.  I’m lucky to have flexible hours so I can stay the extra night.  Unfortunately there wasn’t time for gambling so we hit the road and grabbed a bite.

Food

Taste of the Shore – A nice little variety of mall type food.  I tried Sack O Subs and it was pretty good.  I like having a variety to choose from for a quick bite.  The only thing missing is Chinese Food.

Reflections Cafe – 24 hour cafe.  I had this both in the restaurant and in the room.  Both meals were good.  It’s large and the staff was very nice.  The extended hours make this place a keeper.  It’s nice to have a a place to sit and eat with a fork open at all times.

The Steakhouse – I’m somewhat of a steak snob as I used to be a part of a monthly steak club.  Having that to say the meal was very good.  The steak, itself, was good not great.  It was cooked perfectly, but was not a great cut of meat and wasn’t seasoned to perfection.  The rest of the meal and the staff were very good.  AC doesn’t have many good steakhouses and The Steakhouse ranks up there.

Club Cappuccino – This is the Harrah’s coffee shop.  Besides the long lines the coffee and bagel I had were good.

Overall Harrah’s AC won me over and I will likely make it my new home casino.  The casino was great.  Staff/Service was excellent.  Gambling was better than normal.  Food selection was wide and open (unlike other casino’s)

Harrah’s Resort Atlantic City

I’m pretty excited for this weekend.  I have my first trip planned to Harrah’s Resort in Atlantic City since they added the new Waterfront Tower.  My first trip there was a financial disaster that turned around after multiple trips to the ATM, an extended credit line, cheesesteaks and a football player getting into a fight.  It was awesome!

Reviews have been pretty positive so I’m looking forward to the experience.  I’m not sure which tower we’ll be staying in, but I’m hoping for the new Waterfront Tower.  The rooms are the biggest normal rooms in AC.  There seem to be many choices of food and reviews of The Steakhouse have been very positive.  Additionally the Giants play the Eagles.  All the asshole Eagle fans will be out, which will be fun.

The one thing I’m not looking forward to is their selection of video poker.  Harrah’s is said to have the worst pay tables.  According to VP Free, there are very few machines with good pay tables.  I play Jacks or Better, here’s the allotment.

9/6 JoB (99.5%)

(5) 25c/50c/$1 MG/MD (Red Face) opposite Xhibition Bar near women’s restroom.
(4) $1/$2 uprights in Diamond Cove.
(5) $1/$2/$5 (10-coin) slant-tops (light blue Double Joker face plate) between garage escalator and main pit.
(3) $5/$10 slant-tops in Diamond Cove.

Those are sliiiiiiim pickins!

Expect a full review upon return.