james
To: vpFREE@yahoogroups.com
From: bjaygold@aol.com
Date: Mon, 1 Aug 2011 18:25:40 -0400
Subject: Re: [vpFREE] Re: Bad Tidings from the Palms
I just wanted to point out, despite the perception of many on vpFREE, that
Caesars Entertainment does NOT own/run the Palms. TPG Capital, which owns
part of CE, also owns 49% of the Palms. If you think that means that CE owns
the Palms, you are incorrect. There is no direct connection. CE and the
Palms merely share one common owner.
Certainly it is possible that TPG is consulting CE higher-ups for advice on
how to run the Palms. And it is possible that certain personnel can be
moved from CE to the Palms. Neither of those things means that CE owns or runs
the Palms. The new President of the Palms, Joe Magliarditi, is formerly of
the Hard Rock--no affiliation with CE.
Brian
===================================
In a message dated 8/1/2011 1:13:41 P.M. Pacific Daylight Time,
derangedmutant040925@yahoo.com writes:
--- In vpFREE@yahoogroups.com, "Frank" <frank@...> wrote:
>
> Listen up folks. I'm more of a solutions kind of guy, rather than a
let's define the problem over and over again. I can't help but think that if
instead of posting all these comments on vpFREE, we all started writing
letters to the Palms, we might be able to effect some change.
> ~FK
>
Frank, we are exactly the type of players that are complete anathema to
CE. Don't forget that their grand business strategy is to boost the bottom
line in the short term in order to justify their gargantuan debt. Their
intent is evidently to juice the Palms' cash flow over the next few months in
order to soothe their creditors. To that end, when some junior suit perks up
and peeps, "We're losing money on that FPDW progressive bank!!!!!!!", his
boss gives him a wet, sloppy kiss, and he preens and immediately issues
instructions to have the bank (and, he wistfully wishes, the players) taken out
back and destroyed with sledgehammers. We don't like this. The Palms
doesn't WANT us to like it. They KNOW we don't. Therefore, since they took these
actions with that full knowledge, how on earth could our complaints help?
I mean, look at the recent M progressives fiasco (I realize CE doesn't own
the M). The M couldn't stomach the idea of a 101% game existing at all.
Thus, they wasted their own time chasing their tail, putting the games in and
then making them unplayable. They should, and probably do, know that with
the gradual demise of decent VP all over town, any casino that bucked the
trend and offers good games would have a HUGE competitive advantage. Here's
the key: so they lose a few bucks an hour. So what? Business comes in the
front door. Fred Fullpay plays for a couple of hours and realizes an EV of
+$25, but then he blows that and more paying the vig on his $500 football
bet. Fanny Fullpay plays for a half hour or so, but gets tired of Fred
correcting her mistakes and wanders off to play Wheel! Of! Fortune! instead.
Why is it so difficult for Vegas casinos to understand that offering +EV
games may actually boost the bottom line? Is that truly beyond their
comprehension? And are they aware of the bad will that is engendered when they
worsen their games because somebody might be making a theoretical $1.50/hr
(.25 FPDB)?
I applaud your efforts to open up a dialogue between VPFree members and
the Evil Empire, but I think those efforts are quixotic---it's like getting
Israelis to start a letter-writing campaign to Hamas to try to get them to
make nice for a change. (Apt parallel, as not only do they hate us, they
refuse to acknowledge our right to exist.)
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