You’ve heard the expression, “The operation was a success but the patient died.” What does it mean? Could it relate to the concept of: “Gamble Perfectly But Still Lose?”
Your theoretical loss to the casino (your casino theo or average daily theoretical – ADT) is the way the casino calculates what you are worth to them. It’s not a theoretical win because every game that the casino offers has a house advantage and the payoff for a bet is always less than the odds of winning that bet.
Before we get to talking about the reopening of Las Vegas…… On Saturday I woke up crankier than usual since it was 3:30 am. After listening to a couple of podcasts I grabbed a cup of chamomile tea and plopped down on the couch to see what was on TV. It was with great surprise that reruns of the old NBC show “Las Vegas” were airing on E!
For a few weeks, it looked as though there wouldn’t be much Vegas news to share. Well, that concern is over. There should be lots of news now that Las Vegas has a “roadmap to recovery.” This is a multi-tiered plan to reopen the entire state. There’s one important thing to know before you read this plan – there is no opening date for casinos yet.
On Friday I took a nice mellow drive to downtown Las Vegas. This was my first visit downtown since casinos closed. My primary objective was to grab some Pizza Rock to go. I took a longer route heading downtown to see how Circa Resort is progressing. The photo above is from Symphony Park (more on that another time) to show the scale of Circa vs. Plaza. It’s huge! Now, onto the Vegas News!
Las Vegas casinos remain closed for the month but there are signs that things are starting to get back to a new normal, “New Vegas.” This week local TV news started actually reporting on news besides providing COVID-19 updates.
This was a somewhat surprisingly busy week for Vegas News. Looking at the calendar, we knew there was a lot happening. This just isn’t a week when Las Vegas traditionally busy.
This week in Las Vegas was dominated by one story. No, it wasn’t MGM Resorts announcing new sustainable sourcing goals for eggs and chickens. Just prior to reporting earnings, MGM Resorts sent out a press release that Jim Murren, Chairman and Chief Executive Officer, informed the Company’s Board of Directors that he will step down from his positions before his contract expires.
We’re going to jump right into the Vegas News this week because I found a new document just as I was sitting down.
This is it. The Hard Rock Hotel and Casino in Las Vegas is finally closing. It’s funny that a casino that I’ve rarely visited in the past five years stirred up so much emotion. The Hard Rock opened in 1995 and became one of my favorite casinos for about 10 years.