American Express — The financial services company earned an adjusted $2.01 per share for the first quarter, 2 cents a share above estimates. Revenue came in below Wall Street forecasts, however. American Express also reiterated its 2019 guidance.
STOCK SYMBOL: AXP
(CLICK HERE FOR LIVE STOCK QUOTE!)
Travelers — The insurance company reported adjusted quarterly profit of $2.83 per share, 9 cents a share above estimates. Revenue was slightly below forecasts. Travelers benefited from better underwriting results and lower catastrophe losses. The company also raised its dividend by 5 cents to 82 cents per share.
STOCK SYMBOL: TRV
(CLICK HERE FOR LIVE STOCK QUOTE!)
Honeywell — Honeywell earned $1.92 per share for the first quarter, compared to the consensus estimate of $1.83 a share. Revenue beat estimates as well, with Honeywell seeing strong demand for its aerospace products. The company also raised its full-year forecast.
STOCK SYMBOL: HON
(CLICK HERE FOR LIVE STOCK QUOTE!)
Blackstone — The private-equity firm announced it would shift from a partnership to a corporate structure.
STOCK SYMBOL: BX
(CLICK HERE FOR LIVE STOCK QUOTE!)
Pinterest — Pinterest begins trading Thursday on the New York Stock Exchange after its initial public offering priced at $19 per share. That was above the initially projected range of $15 to $17 per share.
STOCK SYMBOL: PINS
(CLICK HERE FOR LIVE STOCK QUOTE!)
BB&T, SunTrust — The two banks — which announced plans to merge earlier this year — both beat Wall Street estimates with their first quarter earnings.
STOCK SYMBOL: BBT
(CLICK HERE FOR LIVE STOCK QUOTE!)
STOCK SYMBOL: STI
(CLICK HERE FOR LIVE STOCK QUOTE!)
Las Vegas Sands — Las Vegas Sands reported adjusted quarterly profit of 91 cents per share, beating estimates by 4 cents a share. The casino operator's revenue came in above forecasts as well. The company's results were helped by strong growth in Macau, the world's largest gambling market.
STOCK SYMBOL: LVS
(CLICK HERE FOR LIVE STOCK QUOTE!)
Canopy Growth — Canpoy Growth s near a deal to buy rival cannabis producer Acreage Holdings, according to sources who spoke to CNBC. The transaction could be announced as early as today.
STOCK SYMBOL: CGC
(CLICK HERE FOR LIVE STOCK QUOTE!)
JPMorgan Chase — Chief Financial Officer Marianne Lake is leaving that job to lead the bank's consumer lending unit, while JPM's current card services CEO Jennifer Piepszak will step into the CFO role.
STOCK SYMBOL: JPM
(CLICK HERE FOR LIVE STOCK QUOTE!)
TSMC — The company formerly known as Taiwan Semiconductor reported its biggest profit decline in more than seven years during the first quarter. The world's largest contract chipmaker earned just under $2 billion, nearly 32% less than a year earlier.
STOCK SYMBOL: TSM
(CLICK HERE FOR LIVE STOCK QUOTE!)
Facebook — Facebook said it may have "unintentionally uploaded" email contacts of 1.5 million new users since May 2016. Facebook said the contacts were not shared with anyone and are being deleted, and affected users are being notified.
STOCK SYMBOL: FB
(CLICK HERE FOR LIVE STOCK QUOTE!)
Tesla — Funds operated by T. Rowe Price slashed their holdings in Tesla during the first quarter, according to data from Refinitiv. The funds sold off 92% of their stock in the automaker during the quarter.
STOCK SYMBOL: TSLA
(CLICK HERE FOR LIVE STOCK QUOTE!)
Pier 1 Imports — Pier 1 reported a bigger-than-expected loss during its fiscal fourth quarter, as well as lower than expected revenue and a 13.7 percent decline in same-store sales. Additionally, Chief Financial Officer Nancy Walsh is leaving the home furnishings retailer after being in that job for less than a year.
STOCK SYMBOL: PIR
(CLICK HERE FOR LIVE STOCK QUOTE!)
E*Trade Financial — E*Trade earned $1.09 per share for its latest quarter, beating the consensus estimate of 93 cents a share. The online brokerage also reported 135,000 new accounts during the quarter, a 41% jump in new account adds compared to the same quarter a year earlier.
STOCK SYMBOL: ETFC
(CLICK HERE FOR LIVE STOCK QUOTE!)
American Express — The financial services company earned an adjusted $2.01 per share for the first quarter, 2 cents a share above estimates. Revenue came in below Wall Street forecasts, however. American Express also reiterated its 2019 guidance.
STOCK SYMBOL: AXP
(CLICK HERE FOR LIVE STOCK QUOTE!)
Travelers — The insurance company reported adjusted quarterly profit of $2.83 per share, 9 cents a share above estimates. Revenue was slightly below forecasts. Travelers benefited from better underwriting results and lower catastrophe losses. The company also raised its dividend by 5 cents to 82 cents per share.
STOCK SYMBOL: TRV
(CLICK HERE FOR LIVE STOCK QUOTE!)
Honeywell — Honeywell earned $1.92 per share for the first quarter, compared to the consensus estimate of $1.83 a share. Revenue beat estimates as well, with Honeywell seeing strong demand for its aerospace products. The company also raised its full-year forecast.
STOCK SYMBOL: HON
(CLICK HERE FOR LIVE STOCK QUOTE!)
Blackstone — The private-equity firm announced it would shift from a partnership to a corporate structure.
STOCK SYMBOL: BX
(CLICK HERE FOR LIVE STOCK QUOTE!)
Pinterest — Pinterest begins trading Thursday on the New York Stock Exchange after its initial public offering priced at $19 per share. That was above the initially projected range of $15 to $17 per share.
STOCK SYMBOL: PINS
(CLICK HERE FOR LIVE STOCK QUOTE!)
BB&T, SunTrust — The two banks — which announced plans to merge earlier this year — both beat Wall Street estimates with their first quarter earnings.
STOCK SYMBOL: BBT
(CLICK HERE FOR LIVE STOCK QUOTE!)
STOCK SYMBOL: STI
(CLICK HERE FOR LIVE STOCK QUOTE!)
Las Vegas Sands — Las Vegas Sands reported adjusted quarterly profit of 91 cents per share, beating estimates by 4 cents a share. The casino operator's revenue came in above forecasts as well. The company's results were helped by strong growth in Macau, the world's largest gambling market.
STOCK SYMBOL: LVS
(CLICK HERE FOR LIVE STOCK QUOTE!)
Canopy Growth — Canpoy Growth s near a deal to buy rival cannabis producer Acreage Holdings, according to sources who spoke to CNBC. The transaction could be announced as early as today.
STOCK SYMBOL: CGC
(CLICK HERE FOR LIVE STOCK QUOTE!)
JPMorgan Chase — Chief Financial Officer Marianne Lake is leaving that job to lead the bank's consumer lending unit, while JPM's current card services CEO Jennifer Piepszak will step into the CFO role.
STOCK SYMBOL: JPM
(CLICK HERE FOR LIVE STOCK QUOTE!)
TSMC — The company formerly known as Taiwan Semiconductor reported its biggest profit decline in more than seven years during the first quarter. The world's largest contract chipmaker earned just under $2 billion, nearly 32% less than a year earlier.
STOCK SYMBOL: TSM
(CLICK HERE FOR LIVE STOCK QUOTE!)
Facebook — Facebook said it may have "unintentionally uploaded" email contacts of 1.5 million new users since May 2016. Facebook said the contacts were not shared with anyone and are being deleted, and affected users are being notified.
STOCK SYMBOL: FB
(CLICK HERE FOR LIVE STOCK QUOTE!)
Tesla — Funds operated by T. Rowe Price slashed their holdings in Tesla during the first quarter, according to data from Refinitiv. The funds sold off 92% of their stock in the automaker during the quarter.
STOCK SYMBOL: TSLA
(CLICK HERE FOR LIVE STOCK QUOTE!)
Pier 1 Imports — Pier 1 reported a bigger-than-expected loss during its fiscal fourth quarter, as well as lower than expected revenue and a 13.7 percent decline in same-store sales. Additionally, Chief Financial Officer Nancy Walsh is leaving the home furnishings retailer after being in that job for less than a year.
STOCK SYMBOL: PIR
(CLICK HERE FOR LIVE STOCK QUOTE!)
E*Trade Financial — E*Trade earned $1.09 per share for its latest quarter, beating the consensus estimate of 93 cents a share. The online brokerage also reported 135,000 new accounts during the quarter, a 41% jump in new account adds compared to the same quarter a year earlier.
STOCK SYMBOL: ETFC
(CLICK HERE FOR LIVE STOCK QUOTE!)
bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk. bigbear0083 is an admin at the financial forums Stockaholics.net where this content was originally posted.
American Express — The financial services company earned an adjusted $2.01 per share for the first quarter, 2 cents a share above estimates. Revenue came in below Wall Street forecasts, however. American Express also reiterated its 2019 guidance.
STOCK SYMBOL: AXP
(CLICK HERE FOR LIVE STOCK QUOTE!)
Travelers — The insurance company reported adjusted quarterly profit of $2.83 per share, 9 cents a share above estimates. Revenue was slightly below forecasts. Travelers benefited from better underwriting results and lower catastrophe losses. The company also raised its dividend by 5 cents to 82 cents per share.
STOCK SYMBOL: TRV
(CLICK HERE FOR LIVE STOCK QUOTE!)
Honeywell — Honeywell earned $1.92 per share for the first quarter, compared to the consensus estimate of $1.83 a share. Revenue beat estimates as well, with Honeywell seeing strong demand for its aerospace products. The company also raised its full-year forecast.
STOCK SYMBOL: HON
(CLICK HERE FOR LIVE STOCK QUOTE!)
Blackstone — The private-equity firm announced it would shift from a partnership to a corporate structure.
STOCK SYMBOL: BX
(CLICK HERE FOR LIVE STOCK QUOTE!)
Pinterest — Pinterest begins trading Thursday on the New York Stock Exchange after its initial public offering priced at $19 per share. That was above the initially projected range of $15 to $17 per share.
STOCK SYMBOL: PINS
(CLICK HERE FOR LIVE STOCK QUOTE!)
BB&T, SunTrust — The two banks — which announced plans to merge earlier this year — both beat Wall Street estimates with their first quarter earnings.
STOCK SYMBOL: BBT
(CLICK HERE FOR LIVE STOCK QUOTE!)
STOCK SYMBOL: STI
(CLICK HERE FOR LIVE STOCK QUOTE!)
Las Vegas Sands — Las Vegas Sands reported adjusted quarterly profit of 91 cents per share, beating estimates by 4 cents a share. The casino operator's revenue came in above forecasts as well. The company's results were helped by strong growth in Macau, the world's largest gambling market.
STOCK SYMBOL: LVS
(CLICK HERE FOR LIVE STOCK QUOTE!)
Canopy Growth — Canpoy Growth s near a deal to buy rival cannabis producer Acreage Holdings, according to sources who spoke to CNBC. The transaction could be announced as early as today.
STOCK SYMBOL: CGC
(CLICK HERE FOR LIVE STOCK QUOTE!)
JPMorgan Chase — Chief Financial Officer Marianne Lake is leaving that job to lead the bank's consumer lending unit, while JPM's current card services CEO Jennifer Piepszak will step into the CFO role.
STOCK SYMBOL: JPM
(CLICK HERE FOR LIVE STOCK QUOTE!)
TSMC — The company formerly known as Taiwan Semiconductor reported its biggest profit decline in more than seven years during the first quarter. The world's largest contract chipmaker earned just under $2 billion, nearly 32% less than a year earlier.
STOCK SYMBOL: TSM
(CLICK HERE FOR LIVE STOCK QUOTE!)
Facebook — Facebook said it may have "unintentionally uploaded" email contacts of 1.5 million new users since May 2016. Facebook said the contacts were not shared with anyone and are being deleted, and affected users are being notified.
STOCK SYMBOL: FB
(CLICK HERE FOR LIVE STOCK QUOTE!)
Tesla — Funds operated by T. Rowe Price slashed their holdings in Tesla during the first quarter, according to data from Refinitiv. The funds sold off 92% of their stock in the automaker during the quarter.
STOCK SYMBOL: TSLA
(CLICK HERE FOR LIVE STOCK QUOTE!)
Pier 1 Imports — Pier 1 reported a bigger-than-expected loss during its fiscal fourth quarter, as well as lower than expected revenue and a 13.7 percent decline in same-store sales. Additionally, Chief Financial Officer Nancy Walsh is leaving the home furnishings retailer after being in that job for less than a year.
STOCK SYMBOL: PIR
(CLICK HERE FOR LIVE STOCK QUOTE!)
E*Trade Financial — E*Trade earned $1.09 per share for its latest quarter, beating the consensus estimate of 93 cents a share. The online brokerage also reported 135,000 new accounts during the quarter, a 41% jump in new account adds compared to the same quarter a year earlier.
STOCK SYMBOL: ETFC
(CLICK HERE FOR LIVE STOCK QUOTE!)
| Questions | Answers |
|---|---|
| So if he was making more than 500k it would be okay in your book? That's pretty messed up. | Seems like I'd be even more of a piece of shit if I was that successful. |
| Are you involved much with the general goings on of the casino? If so, what goes through your head when you see huge amounts of money being gambled away by someone who doesnt know when to walk away? | Yes, I'm an executive so I'm in touch with most everything that goes on. Most of the time when I see something like that, I just say "good for us" and try not to think about whether or not the person can afford it or not. |
| How much do you make a year? Unless you are making like $500,000+, then you are a piece of shit. you are destroying thousands of people's lives so that you can make a living and afford your bmw and other status symbols. | I don't make $500K a year so I guess that makes me a piece of shit. |
| What is the worst most tasteless thing you or the casino in general did to make money? | I, obviously, like to think I'm uber classy. But in general I think paycheck cashing promotions are pretty tasteless. E.g., Cash your paycheck and get 5% of the total value in free slot play. |
| Can you ELi5? Sorry, to me that just sounds like you hand over your $1000 you earned, and get back $50? Which seems wrong...? Or do you get an extra $50? Hmmm... Thoroughly confused myself. | Let's say your check is $1,000. The casino will cash your check and then also give you $50 in promotional credits to be used on the slot machines. The idea is that since we've given you some "free" money to begin playing the machines you will also dip into the $1,000 cash that we also handed you. |
| Are there any clauses that prevent you from just spending the $50 in free bets and cashing out the $1k without actually playing with it? | No, you get the $1K in cash and the $50 can only be used in the slot machine. I've done this once when I started my new job and my direct deposit wasn't set up yet so they issued me a live check. |
| How many people just walk directly out of the casino after cashing the check with their 5% bonus? | I don't know, I've never run this promotion but generally speaking when we give away promotional credits, the "walk rate" is in the 25% range. |
| How often do you go to the strip clubs in vegas? If you go how much do you spend? Do you get treated better if they know what your job is? | I really don't like them so not often unless someone is in town that wants to go. I don't have a moral objection, just think it's a waste. "Hey do you like to eat steak? Give me $20 to smell this delicious steak! No, you can't try it!!!". |
| So that having been said, I might spend $20 to give to the girls on the stage and maybe a lap dance. | |
| No, I don't get treated better because of my title really. They usually just care about how much money you spend and that's it. | |
| What are some sneaky strategies that you use to get people to spend more money? I don't mean obvious things like having ATMs...but things related specifically to gambling.. | Ummm... Off the top of my head I think the sneakiest thing is probably side bets on table games (e.g., play an extra $5 and if your two cards are a pair then you win $25) because the odds are terrible or things like advertising low table game limits but modifying the rules (e.g., blackjack pays 6:5 vs 3:2) to increase the house advantage. |
| Some casino customers are super cheap and only play $1 Blackjack. Others are whales and the casino spends a lot of money to attract them, but they are rare. Somewhere in between, I imagine, there are customers who spend a significant amount and exist in numbers to make most of the casino's profits. | First, we quantify most everything by "theoretical worth". That is, how much we can expect to win from you based on the house advantage of the game you play and how long you play. The general formula is decisions per hour X house advantage X hours played X average bet. So, $25/hand at blackjack X 1.5% house advantage X 2 hours played X 60 decisions per hour = $45 in theoretical worth. |
| Is that true? How much does a "bread and butter" customer gamble in a day? | Second, It really depends on the particular property. The number is a lot higher for Wynn then it would be at Joker's Wild (a really, really dumpy casino on the outskirts of Vegas). That having been said, most places will be very happy to have you if you are in the $150-300 a day in theoretical worth range. |
| That sounds pretty affordable. Assuming a 30% comp return I guess that comes out to $50-90 in comps a day. | 30% includes the stuff we send you in the mail generally too so at the $300 range you could expect a room and a meal a day. |
| What kind of awful rules are you using to have a 1.5% house advantage, or is that number based on the average player being really terrible? How much in comps would I actually generate for two hours of $25 a hand Blackjack? | I just threw the 1.5 number out there. We also factor in skill into house advantage so as to be more favorable to the player, comp wise. comp wise we'd probably give you 15% of the $45, or $6.75. That's just in what we call discretionary comps that the pit supervisor or host can give you. Then you could expect another 30% in the mail via free bets, hotel, food, etc. |
| I guess you need to register with the casino loyalty club so you know what we are spending. | Correct. |
| I currently reside in Arizona, where you can't swing a dead cat without hitting an Indian reservation and - as a result - a casino. | Well I've worked all over the country and, yes, of course we always keep an eye out on new competition that would impact our existing customer base, especially as the business has seen much more legalization in new jurisdictions in the past 20 years. |
| The casino/resorts are getting increasingly sophisticated. Better facilities, better entertainment, and better marketing. | For Vegas, I think most strip properties have dealt with this by investing in properties in regional markets so as to send their customers to their Vegas properties so it is pretty accretive. Someone from Harrah's Ak-Chin in the Phoenix area gets offers from Harrah's Las Vegas quite often. |
| Is this something the Vegas casinos consider a rising threat, welcome competition, or something else? How do you - as a marketing guy - react to the fact that a trip to a casino no longer necessarily means a trip to Nevada or New Jersey? | The bigger problem really is for the markets where they were a monopoly for some time and really rested on their laurels. Reno and Atlantic City come to mind. Those markets are dying fast and there really isn't much upside. In Atlantic City, for example, you have casinos buying competitors just to close them so as to reduce the inventory. |
| What really happens when somebody wins on a slot machine? Like, what is the behind the scenes stuff that we don't see? Are they checking out the cameras to make sure it was that specific person before they payout? What if you switch seats? What if an underage gambler wins?... What if they switch seats with an of-age gambler?? Honestly, I've never done that, but I've always wondered the underage stuff because I've never ever got carded on slots! I've won hand-pays before (nothing really exciting) and they always hit me with the tax form. What do you guys do with the tax form? Does it get sent out from you guys or does it remain my responsibility from thereon? | I worked as a slot analyst (analyzing machine performance) years ago and never on the floor so I don't know/remember the exact steps. Essentially, though, it's verifying that the machine is functioning properly and recording the details of the jackpot for audit/regulators. If it is a taxable jackpot ( >= $1,200) then we are required to fill out the IRS W2G form to report it to them for tax purposes so at that point we have to get your ID, etc. to facilitate that. Then of course, there is the matter of actually paying you the money, verifying that it is the correct amount, etc. The tax form does get sent to the IRS. You can request the taxes not be taken out of your jackpot as you are only taxed on the net win at the end of the year. |
| How did you get involved in the casino bussiness? | 1/2.) Just needed a job and applied to a very entry level job and worked my way up. |
| Did you set out to work at one or did it come about another way? | 3.) It can be fun and exciting. |
| What do you enjoy most about your job? Least? | 4.) There's a lot of pressure to make money/meet your budget so all of the bullshit that goes along with that. Dealing with politics, having to adjust staffing, etc. And I don't like that at my level the usual tenure is 2-3 years so you move around a lot. I'd like to be more settled, especially in a place I'd really want to live for a long time and I don't feel like I have much control of that in this business. |
| 1) When you talk about being moved around a lot, is that relating to being moved around in what you do at a particular casino? or more like which casino your working at? 2) Do you feel that your skills at this current job gives you fallback options should your tenure run out? ( Such as in other service based industries?) | 1.) I mean there is only one of me at every casino so if something happens whether I don't like where I work or what something different (e.g., more money) or they don't like me (shocking, it happens!) then the likelihood that I have to move is high, especially if I'm in a city that only has a handful of casinos. 2.) I obviously feel like my skills could take me anywhere! But in reality, it has been tough to change industries when I've tried. Usually places like hotels don't pay as much as casinos and look for more sales-related skills and restaurants don't really have marketing people except at the corporate office whereas my skills are more analytics-oriented. And both usually pay less than casinos. |
| time I went to Vegas (around 30 years ago) it still had that "mob" vibe. When I got married there in the 90s (I joke now that I gambled on marriage in Vegas and lost half my stuff) it was much more "corporate" and "family friendly." The "What Happens in Vegas" campaign seemed to try and change that perception. Do you think there's value in returning Vegas to a more "wise guy" kind of feel...playing up the classic vibe, or is it just a big collection of theme parks with gambling? | The problem with returning to that type of vibe is that it's difficult/impossible given how big the casinos are. Sure it was easy for Benny Binion to control everything and not be "corporate" when the old Horseshoe was literally 1/10th the size of MGM Grand. |
| What was UNLV like? Did you live in the dorms? It seems like a strange school where everyone commutes and there's no college life around the campus. What are the pros and cons of going there? | I went there for grad school so was older and had a wife and a house. It is definitely a commuter school so there's not a lot of school spirit. I went to undergrad a school with a huge, huge, huge, football program so it was a bit of a change for me. I also didn't find the students to be terribly bright (with exceptions, of course). On the upside, a lot of people like living in Vegas and the Hotel Administration College (where I went) has very, very good brand recognition. |
| Do you find people have lots of misconceptions about the casino industry? | That the games are rigged and that we love giving away a lot for nothing/little in return are probably the two biggest. |
| So what's up with prostitutes and the casinos? I understand that prostitution is illegal in Vegas, but that they're still there. Is it like the movies, where they're just hanging out in the casino bars waiting to be picked up? | Yes, they hang out at the bars and then there are services you can call and have them sent to your room. If it's overt, casino security will clear them out of the bar area but the vice cops generally focus on human trafficking kind of stuff. |
| As an insider, what do you think the job prospects are in the industry for someone with a similar education background, but no casino experience? | 1.) The industry relies heavily on industry experience so job prospects are good if you're willing to start in a low position and work you're way up. If you go to UNLV and get the degree I got and expect for some casino to make you a Director of VP with no experience then you're going to be very disappointed. |
| Is that just bizarre luck? | 2.) Bizarre luck. |
| What does the industry think about states with Indian reservations that prohibit casinos like Texas? | 3.) Definitely potential opportunity. I've read about that small tribe in Texas. It'll happen eventually in Texas. The people in Louisiana will not be happy, though. |
| Is it viewed as a potential opportunity for growth with a small tribe, more competition, or a wedge to open the state to gambling? | 4.) No problem! |
| For every average person out there, would you suggest not playing? I mean, in the sense that, it's just not a viable option? | Viable for what? Making consistent money? Then definitely not. If you are entertained by thrill of gambling and have the discretionary funds to do it, then by all means. |
| Aw okay! cool. Any idea why people do it? Is it just a thrill? Would being a "whale", make more of a difference? | For the people that do it for entertainment, it's the thrill of anticipation. |
| Was it hard getting a job with such a detailed degree? | My undergrad degree is pretty bland, political science, so it wasn't hard at first. I did my grad degree in casino management because I was living in Vegas, wanted to get an MBA, didn't want to take 2 years off from work to get a full-time degree, didn't have the support of my job to get an executive MBA, and didn't like UNLV's MBA program. |
| EDIT: Thanks for answering my first AMA question! Really good answer too! | NP! Keep asking away! |
| What's your favorite aspect of your job? And do you like to gamble yourself? | 1.) It can be exciting. Picking new acts to play in your showroom seems more exciting to me than selling propane. 2.) Yes... |
| What is the best way for tourist to get the best bang for buck in your casino for entertainment, food, gambling etc to have a good time and not go broke? | I'm currently working at a Vegas strip property. |
| If you can answer in terms of Vegas, that would be great also. | Unless you have something more specific in mind, the first place I'd direct you to is the Las Vegas Advisor Top 10 Deals List. |
| With legal online poker gaining momentum which might mean eventual legal online gambling for other house games online; are the casinos doing what they can to kill this before it starts or your thoughts on this? | Las Vegas Sands / Venetian is actively trying to kill it (which I don't really understand) but everyone just sees it as a means to make more money so are ready to pounce when it's legal. |
| I don't know if you're still answering questions, but what are the qualifications for being, say, a Texas Hold'em Dealer in Vegas, specifically your casino, and are the dealers specific to just one game? I.e. omaha, hold 'em, pai gow, stud... Also, without being too specific, what is the average annual income for said occupation? Are the dealers payed solely by tips/do they get to keep all tips? | 1.) Generally there are poker dealers and table games (e.g., blackjack) dealers. Few do both. Among the table games dealers, most know multiple games as the more you know the more hirable you are. In terms of the qualifications it's just that you've gone to some sort of dealer school (there are commercial ones and some casinos do it in-house), experience, and a live audition. 2.) Really depends on the market and the casino. At the high end like Wynn or Venetian they will do close to $100K/year but at an entry-level place it could be more like $25K/year. It's base salary plus pooled tips (aka tokes). |
| 3.) You've never thought of dealing the WSOP? They need as many dealers as they can find. | |
| Do Casino's design their decor for different target groups? | Of course. Hard Rock and Cosmo are designed for younger demographics and Wynn and Venetian for older affluent ones. |
| I find all Casino's to be outright horrible to my senses due to the noise/flashing lights. | Encore and the new Barrymore are definitely designed for the Asian gambler. And you'd, obviously, have to assume the casinos in Macau are, too, although I've never been. |
| Could you describe your typical work day? also I've had some great times a Joker's Wild! | Ha! I honed my dice skills at JW! |
| Typical work day is get to work and look at the previous day's financial results and react accordingly. I.e., ask the analysts to pull numbers, talk to the head of a certain department about their opinion on something, etc. | |
| Emails emails emails. | |
| Then it's usually a lot of meetings about upcoming things whether it be planning an event, approving new advertising, doing the strategic planning for the property for 2015, meeting with vendors, etc. | |
| Emails emails emails. | |
| By this time the numbers or reports I've asked to be run are ready so I sit down and look at them and act accordingly (e.g., hey, looks like we're spending too much on postage to mail to customers too far away, let's change the way we do this for next time), etc. | |
| Emails emails emails. | |
| Then it's usually time to go home but 2-3 times a week I'll have a dinner or event to go to with a vendor or colleague or someone from the press. | |
| Emails emails emails. | |
| Probably 2-3 Saturdays a month I'll go in and work for a few hours just to catch up on stuff or if there's an event to meet and greet players, make sure everything is going well, etc. | |
| Emails emails emails. | |
| Has the rise of 6:5 blackjack been hurting the game's popularity, or are there enough people who don't "get" the odds change (or don't care) that it all works out in the end? Is the odds change enough to swing the game back in the casino's favor in the long run even if players count cards? And what about continuous shuffling machines: have any of the casinos you've been with used them, and how did the players react? | The masses don't care about either especially if you're able to offer low limits. The limit and the number of decks is what attracts people to a bj game. Still never going to allow counting. |
| Is is harder to get jobs in the background or management functions of the casino? | Well certainly there are more what we call "front of house" positions (dealers, porters, servers, bartenders, etc.) than "back of house" positions (accountants, IT, warehouse, etc.) so in terms of pure numbers, yes it's easier to get -any- FOH than -any- BOH position. |
| I'm an IT grad looking to move back to Vegas and wondered if there were more "non-floor" jobs than actually functional jobs. | That having been said, if you're wanting an IT position shouldn't be too hard if you're willing to work anywhere and have a little experience. If you're wanting to just jump into the CIO job at Bellagio, more difficult. |
| Great! thank you. I've got about 8 years under my belt, but dear god...no CIO for me. This really eased my worry about options. thanks. | You should be OK as long as you're not too picky. |
| Just how rigged are the automatic roulette machines? | They aren't. The games have to go through pretty rigorous testing by the state or an agency of the state to be allowed to be sold. Gaming Labs International is one such company. |
| I would think that SEO campaigns and similar web based marketing would be ineffective techniques for a casino in a place like Las Vegas. Is this the case? I know I'm quite late but I would love to know if you have time. | We definitely do SEO/SEM campaigns but primarily for hotel related keywords for people looking for hotel rooms. I worked at a place a little outside of the main city in the south one time and we'd buy broader search terms for people looking for "entertainment in main city" in case they didn't know there was a casino nearby. |
| Thanks for the response. I was just curious about engaging people in person in public? Do you operate campaigns on the street such as call to action flyers or similar? Are there laws specific to this type of promotion in Las Vegas? | Not a typical marketing channel most casinos explore, but it's not entirely unheard of. Sorry I'm not entirely sure of the laws. |
| Who owns the casino you work at? Is it one guy or a publicly traded company? | I'd rather not say as I don't want to be outted but I have worked for large publicly traded companies, privately held companies (e.g., owned by hedge funds), and publicly traded companies where one individual owns the majority of the shares. I've never worked at a privately owned casino owned by one individual, though. |
| How do I get over 65 year olds excited about my product? | Without knowing what said product is, the best thing I can say is to figure out how to make it relevant to them. |
| What does a marketing exec. at a casino make a year? | Depends on the size of the property. 75 at a small riverboat casino to 250 at a large place like Bellagio. |
| To succeed in marketing, what is the first step to landing a successful job? and what should be the over arching goal in mind to maintain a competitive advantage over fellow competition as well as new shifts in market trends? | 1.) be tenacious. take any job you can get. be a sponge and learn everything you can. |
| 2a.) don't be afraid to fail, but be smart (and profitable) about it. | |
| 2b.) don't rest on your laurels. stay in touch with your customers. | |
| Go on ... What does a casino do in that regard? | From a gambling standpoint, people in that age range like penny slots so we offer a lot of penny slots. We put on shows that would appeal to them. We would make the decor more classic vs hip. Etc. |
| I've always wanted to work in the gaming industry. I have a strong sales background and a B.S. degree... which department would you recommend to get my feet wet? | Probably player development which is the department that deals with VIP guests or maybe special events/promotions. |
| What's the best movie you've seen this year? You did say we could talk about life in general... | Absolutely! 12 Years a Slave. |
| Edit: Also, Dallas Buyer's Club. | |
| Dang, haven't seen it yet...will have to wait for it on DVD or streaming. Edit: Haven't seen that one either. I'm starting look like a Philistine. | It's pretty heavy but sometimes that's good. |
| Do you prefer to market for families or adults? Casinos are adult fun, but I've noticed a shift in the past decade. | Definitely adults. |
| Your AMA was one of the best, you answered almost every question, so if you're still answering here's one: If a young person comes in and wins more than 100k and then just leaves, would you suspect him/her of anything? | It really depends more on the manner in which you win and how you behave. We're required by law to fill out a Currency Transaction Report for transactions over $10,000. So if you got to that point you would have already given us your ID, etc. We'd obviously make sure that surveillance is watching you to make sure you're not cheating but if you're on a random hot streak and betting $10K/hand then it wouldn't be a huge deal at most strip properties. |
| How about a free load just this once? lol. But hypothetically what would 10 grand get you :( | At my place, (which is not an uber classy place like Wynn or Venetian), you'd get pretty much whatever you'd want. Suite, dinners, limo from the airport, show tickets, etc. We'd generally reinvest in you 30% of your loss so just figure out what $3,000 in comps would get you. |
| What advice can you give to new grads who want to get into marketing, but can get work due to lack of experience? | As I mentioned in a previous post, I believe you really just need to be tenacious and take anything to get your foot in the door. It's a very crowded field, especially on the what I call "pretty picture" side of marketing. I wish I had a more specific answer to give you. |
| What does being a marketing executive involve? | I usually say I'm in charge of driving profitable revenue. The departments that report up to me are charge of advertising, promotions, entertainment, public relations, direct mail/database marketing, and VIP marketing. |
| I'm coming to Vegas in December from Australia, can you PM me your email address? | Just PM me. Happy to see if I can help |
| Do casinos hire interns? I'm currently a student at a public university. | Absolutely. I think most of the major companies have management training/internship programs. Go to their careers websites. Caesars Entertainment, MGM International, Pinnacle Entertainment, Penn National Gaming, etc. |
| Would you recommend a job in marketing? what skill sets would be helpful for marketing? i'm interested in it but not entirely sure what it's about. | I think the best combination in today's world is to be more right brained with a creative bent as more and more the question asked of marketing folks is "quantify how your idea makes me money?" and less and less "what's the most most creative idea you have?" |
| It's a crowded field especially on the left brained side (e.g., advertising and public relations) because people think it's "cool". So if that's you're interest, I'd say being tenacious and creative is what is going to get you far in that world because it's tough to get your foot in the door and you have to have thick skin and then when you do get your foot in the door you are going to have a very short leash to prove yourself. | |
| Any specific company you recommend? | If you're at the intern stage, apply liberally. |
| Do you have the sides backwards, or do I? | Um, well I think of left brained as creative and right brain analytical? |
| How selective is the casino management program at UNLV? | The hotel management program in general is not selective but the casino management program is difficult because it's pretty quantitatively-focused so there's a lot of attrition. |
| What do you do for family entertainment in Vegas? | I'm single so that having been said, there's all your typical family stuff to do here: parks, camping, hiking, movies, bowling, etc. |
| You don't have any family in Vegas? What's something that you go do with your friends, then? | I'm not from here and my ex-wife hated living here thus why she's my ex. My friends and I go and see concerts, go to bars, we like guns so go shooting sometimes, and most Sundays cook for each other. |
| Sounds like a nice life! | It's OK. City is kind of soulless and superficial. |
| One of my favorite aspects of Vegas is that if you want your experience to improve, it's usually a strategic $20 tip away... whether that be a tip to upgrade your room when you check in, to skip the long line at a club, to get a table with a great view at dinner... What potential 'Experience' improvements would you recommend in Vegas? | Link to thetwentydollartrick.com |
| Vegas or Macau. Which is better? | Better for what? |
| Have you read The Stars My Destination by Alfred Bester? | I haven't. |
| So basically I should just buy from the half off kiosks? | Yes. |
| How do you feel about those who are addicted to gambling and those who have lost everything because of it? | Bad, obviously. |
| Late to this ama, are you still taking questions? | Sure! |
| Sure buddy. | Do you mean to say that you don't believe me? |
| I just got started in hospitality marketing, any advice? | Doing what, exactly? Just be willing to make not a lot of money for awhile and be willing to relocate frequently if you want to move up the ladder. I guess those are the first things that come to mind. |
| Have you had any good marketing ideas that you couldn't do due to marketing regulation. | Not necessarily due to regulation but a lot of times you're gun-shy to do a promotion because well, what happens if no one shows up? |
| Bastard. | Danka. |
Any casino stock investor knows there are two places on the globe that can move the market at a moment’s notice: Las Vegas and Macau. Las Vegas is the largest gaming hub in the U.S., but Macau In Macau, most Las Vegas Sands and Wynn Resorts (NASDAQ:WYNN) properties are generating over 80% of their revenue on the casino floor. In Las Vegas, less than a quarter of revenue is coming from The following infographic includes information about the state of Las Vegas and Macau’s casino industries between 2007-2017. The decade in question included periods of sharp economic downturn in both cities that were followed by what are believed to be periods of stabilization. Last year, both cities recorded gaming revenue increases but, as it can be […] Strangely, the average gambling budget in Las Vegas is $619 compared to Macau’s $250, yet the gaming revenue in Las Vegas per year is $11.1 billion, which is easily dwarfed by Macau’s $28 billion. Casino News Daily has compiled a detailed report on the state of Las Vegas and Macau’s casino industries, based on information released by the Nevada Gaming Control Board and the Macau Gaming Inspection and Coordination Bureau and on trends that have occurred in each of the two cities’ gaming industries over the past several years. The Even though Macau is a much smaller city and has less space to fit gigantic casino resorts, it still has a gambling revenue that is three times higher than that of Las Vegas, which is quite impressive. The GGR (Gross Gaming Revenue) of Las Vegas is $6.4 billion, 34% of which comes from playing casino games. Macau is China’s answer to Las Vegas. But the former Portuguese colony has long surpassed the City of Lights as the world’s casino capital, with revenue from gambling receipts exceeding the entire state of Nevada back in 2010. As well as drawing in the punters, it has the glittering architecture to match. Macau in spite of being touted as the Las Vegas is nowhere near Las Vegas (literally and figuratively). But if you are interested in gambling and have tons of money to burn, then Macau is the place to go. Entertainment as far as westerners are used to are virtually non-existent but like all other places it has its seedy side. In 2016, Las Vegas saw $11.1 billion in gross gaming revenue whereas Macau saw over double that with $28 billion, even though people’s budgets are far less in Macau with people averaging a gambling budget of $250 opposed to Las Vegas’ $619. The table minimums are roughly $3 in Las Vegas whilst in Macao are $36. Interestingly enough, Las Vegas has twice the number of Macau casinos, more than 104 in comparison to 49. Despite this, Macau attracts more than three times the amount of gambling revenue of Las
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#4k #ultrahd #cotaistrip #cotai #macau #vegasWatch this spectacular night scene of Macau Cotai Strip, which shows the hotels in 4K crystal clear quality. The... With the entry of large foreign casinos from Las Vegas and Australia, Macau overtook the Las Vegas Strip in gaming revenues in 2007. This video is targeted to blind users. Attribution: Macau, Europe in China! The biggest little (ex)colony in China and a Bigger gambling destination than Las Vegas! Macau is among the world's richest regions, ... This city's revenue is 3 times that of Vegas. Can you believe that? What's there to do in Macau? #Macau #Macao. Lets visit the Las Vegas of Asia - Macau! This city's revenue is 3 times that of Vegas. China to tighten control over world's biggest gambling industry in Macauhttp://timesofindia.indiatimes.com/world/china/China-to-tighten-control-over-worlds-b... In this video i sneak a hidden camera inside some of Macau's Casinos,The security is real tight In Macau,They have security on all Casino entrances and every... In case you missed these AMAZING VegasLowRoller YouTube videos, here are a few huge wins from my channel:A HUGE WIN:https://www.youtube.com/watch?v=rCOLBnVO5... The Las Vegas Of Asia - Macau , Grand Lisboa, Casino Lisboa, The Parisian Macau , Sands Cotai Central, City Of Dreams , The Venetian Macau, WYNN PALACE ... From Vegas to Macau III PSY vs Chow Yun fat The final 4K footage of my drone flights in Macau (Macao); project finished & uploaded on 2019-04-26 by One Man Wolf Pack UltraHD Drone Footage. Visit my blo...
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