SUN: Racing's media makeover paying off

[dalakhani]

Originally Posted by randallscott35

AC is broke b/c gambling is available everywhere. Pocono, Foxwoods indian casinos all over....Just more of a reason for racing to make itself a whales first option. Lowering WPS to 10% has to happen as well. Good luck trying to convince people of this.

AC was broke long before that. The "whale" mentality is over Randall. That mentality is very 30 years ago. Look at Las Vegas if you want to see what Im talking about. I'm not saying a good player doesnt still get comped. My point is that the days of Steve Wynn having a shadow creek exclusively for whales at Mirage are OVER and they aren't coming back.

Where are casinos profits coming from? Do you really think its from whales? If you do, you really need to do some research. Harrah's has broken it down to a science. Why do you think every time you go back, there are more and more slot machines for less and less money (min play)? What about shops? The amount of money they spend in ancillary activities partially makes up for the difference. The vig they get from the dumber players makes up for part even if it is a fraction. Lastly, the rooms are filled with paying customers.

The current economy will not support that whale. Regardless of how loyal you can make a whale player, they still have far too many other options to keep your casino afloat. So how do they stay in business? las Vegas has this incredible way of staying ahead of the curve and reinventing itself. They change their product and they change their target market.

The new thing in Vegas right now is Non gaming hotels. Think about it- NON GAMING HOTELS in the middle of the strip no less! MGM bet 13 billion on city center and there is all of one casino in the whole place and it isnt very big. Go figure-Vegas, created as a gambling town, is actually making money on non-gaming ventures. What if you proposed this idea 20 years ago? People would have laughed. Some genius, namely Kirkorian, saw the forest through the trees. And you know what? 50 years from now, the rest of the strip will look a lot like the new City Center. Gaming will always be a part of the town but it won't be what the town is about.

Horse racing needs that type of vision.