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Originally Posted by jwkniska
the BC is run by a total different entity, that basically takes over the race track that it's held at (at least that's how it worked when it was at AP a few years ago). The host track only gets a very small share of the $$ generated (mostly concession money) and basically no input at all on how they run it.
That's the last thing that the MEC shareholders, and especially the bond holders, would want, is for the BC to cancel. Taking away a good revenue source, would just make the bonds even more worthless.
Still trying to figure out how their slot revenue at GP was negative... that makes absolutely no sense to me at all. Those machines are set for a certain payout due to the main chip in them (or with a wheel and spring in the old-time mechanical ones) and if it's too many huge progressive jackpots that are hit... the payouts for those come directly from the slot machine company (bally's, igt, etc), as the manufacturers pay the large jackpots in return for a % of the money inserted into them... so those do not affect the casino's bottom line at all.
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Yeah the slot machines pay out like 90-95% of what is put in them... so you can't lose money that way.
I'm figuring the way they lost slot revenue would be because not many people go to the casino there. Hollywood Dog Track is right near there and that is where the majority of slot players in the area go. Gulfstreams' casino has been REAL slow going. Surely things could have changed in the past year (though I doubt it), but Gulfstreams' poker room rarely has many people there.