have some issues with the article,
revenue is dropping despite higher hold per machine because of the higher hold, ie: players are losing money faster on non v-p games and are playing less, and some casinos have increased the amount of table games offered as a result as players are now going back to them. Also they are starting to play v-p for the first time .
There are a number of successful casino companies that have excellent v-p ,southpoint , station casinos, peppermill and atlantis in Reno to name a few, so offering playable v-p is not a reason for casinos for to do poorly. Just management being stupid in everyday decisions is more than enough reason . The casinos named above are well known to be some of the best run companies of any type , not just casinos, in the country. None of them has blamed v-p for profits going down.
(disclaimer, i own stock in Atlantis, I have owned and will own again station casinos. and I WISH i could own stock in Southpoint and Peppermill . I also made some money shorting Wynn because of Macau, and Caesars because of their martingale system of doing business Cant pay your bills ?, making big mistakes in your decisions ? , just keep borrowing more money and keep expanding ! )
The main issue I have is with the statement that card counting can be argued as cheating, No it can not be argued at all that way.
Counting cards is a skill, as is playing v-p perfectly . Is playing v-p as well as you can cheating ?? Using your brain is not cheating.
M J
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Posted by: mike perry <mjperr82@yahoo.com>
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