Plenty of rooms available

The podunk tracks should be limited to two days a week and the big tracks at 3 days a week.

Quite frankly some of these owners, trainers, and jockeys should find another line of work. It's sickening watching these jug blowers (West Virginia) and farmers (Iowa) make good money with a s.hit product.

The welfare needs to end.

Hey some people bet on Womans basketball too

Freddy stop pulling numbers out of air. Net rev was 175 millon in the first quarter of 2010 compared to 187 million the first quarter of 2009. I think anyone that lives on the east coast could say that the 5% decline was weather related as this was a pretty harsh winter. In april, Borgata had a 2.4% year over year increase.

What was it 5 years ago?

Borgata: 1. Borgata had a terrific qtr. 2. The property continued to lead the Atlantic City market in revenues despite operating with 10% fewer slot machines and a closed player lounge for half of the qtr. as they prepare for the public space expansion that opens around the end of June. 3. The property's EBITDA was $65.3m, an increase of 15% over 1Q05. 1. This was the property's second highest ever behind only last summer's record qtr. 2. The first record best EBITDA occurred in Jan. through March, winter when nobody has posted [big] numbers like that. 4. Borgata's EBITDA margin was nearly 35% in 1Q06 with 54% of the revenue increase from the prior year coming to the EBITDA line.

These days are LONG GONE BRO

I know nothing but wasnt last years first quarter a worse economic period in general? What are the numbers against two years ago?

You can't get condo financing in Nevada, Arizona, Florida and parts of california with Fannie Mae unless you have at least 20% down as an owner occupant and over 25% as an investor...if the condo is warrantable. Those condos aren't warrantable because of lack of presale and/or investor concentration. FHA is going to be the same problem. Considering those two entities make up over 90% of all loans closed and no bank is going to portfolio a loan for a vegas condo without 50% skin in the game, the fact that the project is doing the financing is to be expected. That will change as the market stabilizes.

Are you really going to compare gaming stock prices in 2003 to 2010 and blame it on city center? Come on Chuck.

They aren't far from profitablity. I can't help that you can't understand that.

They are doing OK and only Harrahs next door and th Borgata have any business.. They give rooms away 4 years ago they were 400 a night on a friday in Feb.. Now if you give then 250 bucks of slot play twice a month you get a free room in two seconds.

Maybe they can do a package deal with free skiing at the Xandu at the Meadowlands.. They shout get Dubai to buy that Turkey also they needs some quality in the portfolio

No doubt. Every casino has seen a downturn. But they still TURN A PROFIT while most everyone else in the same sector has been hemmoraging money.

The arent that far from profitability. Ok.

They have already marked the condo prices down 30% and they had as many people walk away and give up their deposits as people who bought places. They have to provide all the financing for the few people that do want to buy. Thier centerpiece hotel opened and is 23% off the rest of the strip in occupancy. They have a $500 million dollar construction expense dispute.

So virtually no one is buying their condos. As many people walked away as bought. The few that did buy cant get financing anywhere else. No one is staying in their hotel. And you claim that they are close to profitability. I suppose that MGM stock should be a strong buy that $14 then? How much MGM stock do you own since you seem to be closing your eyes and wishing that all the bad news clouds would disappear?

I am not saying that City center was the entire reason that the stock tanked but the fact is that companies flush with cash will operate in a different plane than those who are having losing quarters.

Thats every business in the US with few exceptions. You are comparing a completely different economic climate.

I am not comparing Borgata 2010 to Borgata 2005. I am comparing Borgata to any other casino in AC. Why has it thrived, and by "thrive" I mean continue to turn a healthy profit, while the others have failed?

Actually, if you changed your google search, you might find that the convention booking is surging for the second half of 2010 and into 2011 and occupancy will be greater than 80%. The reason they were running at lower occupancy was to protect their price point which is going to be higher being geared to convention business.

Aria has actually improved occupancy in each successive month since its open. Remember, the average price per night is $194 vs.97.21 for the rest of the strip. May bookings indicate over 80% occupancy.

I think some of you would argue with a mirror. Sheesh.

Perhaps you should be working for MGM since you seem to be the only person who is so bullish on this project.

Perhaps. But this is straying way off the original topic.

Charlestown does well because the horse racing product is just part of the overall package. Borgata does well because the gambling product is just a part of the total package.

Both places have done a great job marketing to non traditional gaming demographics and thus have outperformed most everyone else in their respective sectors.

Neither Borgata's nor Ctown's rewards programs are any better than their competitors nor are their payouts/takeouts any better. If anything, they are worse.

So whats the difference? Aren't there lessons to be learned?

Proof of this?

I've never been a proponent of the project, because I think it's far too ambitious in terms of residential plans in the current (new) economy especially given their debt load when the project started- and on top of that siphons off business from their premier product next door, but the fact is they will be profitable at 75% occupancy at their current room rates based on their most recent 10Q and independent research. So- they are in fact close to profitability.

Proof of their of their sucess or proof that the reasons listed are the cause of their respective success?

The hotel being at 75% capacity makes the entire project profitable? That seems impossible.

Well proof that their success is because of the reasons that you are claiming.

You really can't prove it irrefutably. Can you speculate as other reasons? Perhaps Im wrong.

http://finance.yahoo.com/news/CityCe....html?x=0&.v=5

Bottom of the article.

Yes- 75% means they are in the black operationally, obviously they have to have some pretty robust years to recoup the cost of the project.

Yeah that just means they arent losing money on the operation of the hotel though. The residential side has to be a bloodbath and the debt service on the $8 billion dollars it cost to build it has to be massive.

I have no idea if you are right or wrong or the reasoning behind it. I was just wondering where you got your info.

With slots bill pending, Arlington looks ahead

"Gaming itself can be successful" said Arnold, "but if we want to truly make it maximally effective competing in the marketplace, I think we're going to need a couple other components. We've been updating studies that have already been done, and they're indicating that we need to consider having some additional upscale food and beverage opportunities in addition to the traditional casino buffet. Also, we'd be considering selective retail, as well as an entertainment venue."

http://www.drf.com/news/article/112854.html

New Fans yes, but what about us?
 

Steve and the rest of the D.T. family, I recently join this forum because I love talking about horseracing. But I wanted to add a comment that I wanted to make yesterday during the show (May 11th) about drawing new fans.

I understand the people like my late grandfather was the person who got me into enjoying horseracing. Born in Baltimore, I had the pleasure of going to Old Hilltop, Bowie, Laurel and for night racing to the bull ring at Charlestown. Yes it was the crowds of old men smoking and cussing on the rail even in my early teens before I was allowed to wager, I loved watching the horses and even handicapping races for my grandfather. I had the pleasure to see all three triple crown winners in the 70's win the Preakness live in person. And yes I was one of them fools running up against the inner rail from the infield to cheer as Secretariat pulled away from Sham.

But the real point I want to make; us current horseplayers are taken for granted, if the industry wants new fans they need to clean up the mess with medication and for the most part shorten race meets. You take 60 % of the tracks who runs meets for 6 months or more (Calder, Thistledowns, Woodbine and others) it's mainly the same horses beating up on each other. And with simulcasting, more focus is put on multiple tracks instead of the industry combining some of the lesser tracks to develop things like a super condense meeting. Going to the track years ago was an event. Today when you see some of the tracks on your simulcast feed you can barely hear anyone at the track and when they show the crowd you may see a handful of people watching races unless it's a big event.

I understand the investors who buys the horse is key and maybe the tax breaks that were taken away in the 80's should be reinstated. And if you want the younger crowds fine! But let's remember the easiest way to attract people is; give them an opportunity to have fun but in the words of one of most favorite movie of all time " let it ride"....there's no racing without betting!

People don't want a race card filled with chalk, or given waterdown beer for $1 and a hotdog that taste like it's been in water for 10 days straight. Gulfstream did it right, they combined the race track in the daytime with dinner and clubs at night time. Even in the off season they are still able to get a crowd. Yes they are adding high in shops like most gambling places.

I hate to say it, but maybe NBC was on the right target. For most men like myself we would go to the live meet if I knew plenty of ladies was there having a good time and looking great....shhhh don't tell my wife though lol