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CET To Pull Out of Ohio

Discussion in 'Casino Industry & Development' started by UKFanatic, Nov 2, 2015.

  1. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

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    So I got an email this afternoon from CET indicating that they will soon no longer be managing the Horseshoe casinos in Ohio and that management will be taken over by Rock Gaming. Email says you can still use and accumulate TR points until the transition is complete and, thereafter, you will be assigned a comparable tier in whatever loyalty program Rock Gaming implements. Thought the Ohio players would want to know ....
     
  2. Guy_

    Guy_ Low-Roller

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    Got the same e-mail.
    Wonder if they are planning to pull out of anywhere else.

    One of the biggest advantages it has over MGM is that they have casinos all over North America.
     
  3. Flowers

    Flowers VIP Whale

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    Thanks. I have never played in Ohio but does this include the casino that CET opened not that long ago?
     
  4. Guy_

    Guy_ Low-Roller

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    Here is the e-mail that I recieved



    Dear William,

    We are writing to inform you of an upcoming change to the management of Horseshoe Casino Cleveland, Horseshoe Casino Cincinnati and ThistleDown Racino. In mid-2016, Rock Gaming LLC and its affiliates ("Rock Gaming"), which currently own Horseshoe Casino Cleveland, Horseshoe Casino Cincinnati and ThistleDown Racino, will assume the management responsibility of these properties. These three properties are currently managed by subsidiaries of Caesars Entertainment Operating Company, Inc. ("Caesars Entertainment").

    Caesars Entertainment and Rock Gaming are working together to ensure a seamless transition and our goal is to keep you fully informed throughout the coming months. We will be sharing more information with you shortly, but below are a few aspects of the transition we would like to clarify up front:
    • Your Total Rewards® Tier Status, Tier Credits and Reward Credits WILL REMAIN INTACT and will continue to be valid at Horseshoe Casino Cleveland, Horseshoe Casino Cincinnati and ThistleDown Racino until the time of the transition (see below), as well as at all Caesars Entertainment properties outside of Ohio going forward.


    • In addition to keeping your current Total Rewards® benefits, YOU WILL ALSO be granted equivalent Tier Status, Tier Credits and Reward Credits in a new Rock Gaming Loyalty Program, which will be valid at Horseshoe Casino Cleveland, Horseshoe Casino Cincinnati and ThistleDown Racino after the transition.


    • This means you will keep your Total Rewards® benefits AND you will be receiving additional equivalent benefits in a new program, which will be announced shortly.


    • You can continue to earn points, comps and additional perks as usual until the time of transition - equivalent points, comps and tier status held at the time of transition will be granted in the new loyalty program.


    • All marketing offers from Horseshoe Casino Cleveland, Horseshoe Casino Cincinnati and ThistleDown Racino will continue to be valid.

    Rest assured that you will continue to enjoy a quality experience at Horseshoe Casino Cleveland, Horseshoe Casino Cincinnati and ThistleDown Racino. The team members you have come to know and rely upon will remain with the properties and will continue to be a part of your Ohio gaming experience for years to come.

    Please visit http://www.rock-gaming.com/guestinformation to receive up-to-date information regarding the transition, to view frequently asked questions or to contact us. Look out for more announcements and information related to this transition coming soon.
     
  5. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

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    If you mean Cincinnatti, yes
     
  6. Flowers

    Flowers VIP Whale

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    Thanks. Wow.
     
  7. hotreds

    hotreds VIP Whale

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    Well, no reason to go to Horseshoe Cinci now!
     
    Will give them a try!
  8. MoneyToBurn

    MoneyToBurn Low-Roller

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    Am I reading it wrong, or will you end up with RCs in both programs after the switch, effectively doubling the value of your RCs at that time? If you were to go after a home football game to take advantage of the Game Changer Multiplier, then effectively double that, you might be able to make positive EV out of something.
     
  9. Guy_

    Guy_ Low-Roller

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    It does read that way.
    If you earn say $400 in RC's you would have $400 to use at total rewards casinos and $400 to use in the Ohio casinos. or at least that is how I am reading it.
     
  10. DiamondJim21

    DiamondJim21 Tourist

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    Can't believe CET is pulling out of Ohio. But if you can count RCs in both places for the next 6-9 months - that's something to think about.
     
  11. tringlomane

    tringlomane STP Addicted Beer Snob

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    That's exactly how it worked in STL when Hollywood took over Harrah's and it didn't seem to matter if you didn't earn the credits in St. Louis for them to be converted to Hollywood's Marquee Rewards systems, and I was kicking myself for not hoarding more credits during that transition time frame. Still got about $250 though.
     
  12. troe

    troe Tourist

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    The best thing about having a Horseshoe in Cincy and Cleveland was being about to earn TR points. Now, closest CET properties are Caesars Windsor and the Horseshoe outside Louisville, KY.
     
  13. lithium78

    lithium78 High-Roller

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    Wow, I guess the Ohio casinos weren't profitable enough. Did the state tax casino earnings too much?
     
  14. tringlomane

    tringlomane STP Addicted Beer Snob

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    Ohio taxes at 33%...about average for the midwest. Looking at the numbers though, yeah, I would say Ohio is a disappointment. Missouri's 4 STL metro casinos almost grosses as much as the 4 full fledged Ohio casinos spread across the state.

    Sept. 2015
    Ohio Casinos
    Cleveland/Columbus/Toledo/Cincy = $64.27M

    St. Louis, Missouri Casinos Only
    Ameristar/Hollywood/River City/Lumiere Place = $67.53M


    Now some of the Ohio Revenues are also being split with the racinos, which for slot players, offer pretty much the exact same game availability. No VP yet though. :(

    Actually...the racinos are outdoing the casinos in revenue in Ohio statewide!!!

    Ohio Racino Gaming Revenue - Sept. 2015
    Statewide - $67.82M

    Also another interesting thing about the Ohio racinos, is they publicly list all approved themes with payback ranges. So the "Big Bang Theory" (approved 9/2015) for example should pay back no lower than 87.46%. So I would personally avoid playing slots that have an 85% return (state minimum) setting myself. Sorry Cleo II (~85.1%)... :( For pennies, a good one was IGT's "Winner's Choice", which pay back 92% minimum. They aren't trying to deceive you with the title. This 92% minimum is nationwide too for those machines.

    https://www.ohiolottery.com/Retailers/VLT-Central/VLT-Technology-Providers/Game-Theme-List

    http://media.igt.com/marketing/PromotionalLiterature/GamePromoLit_2253A-224A7.pdf
     
  15. lithium78

    lithium78 High-Roller

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    33% taxes? Ouch. I guess that's better than 50% taxes like in Pennsylvania, though. I'm thankful it's only 7% in NJ. Our slots odds tend to be a lot better. (Though not as good as Nevada.)
     
  16. bardolator

    bardolator Lifelong Low Roller

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    It's inconvenient for regulars to get to the Horseshoe as compared to the suburban, expressway-accessible location of the Hard Rock. I-77 is not far from the Horseshoe, and there are bridges to the West Side, but they've been working on both of them for years. When the thing was proposed, Dan Gilbert and staff chose Ha$$ah to run the operation, but there was no promise for a long term commitment on the part of either. Dan is currently burdened with a huge NBA salary budget in a depressed market that is not traditionally all that hot over basketball. He would be foolish to build a new casino now.
     
  17. NickPapageorgio

    NickPapageorgio OG of the Sal Sagev Hotel

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    With the balance sheet of the Cavs, it's not much of a burden. Television, ticket and merchandising revenue are through the roof since the return of the chosen one. You're not exactly talking the Minnesota Timberwolves or NY Knickerbockers here.

    Nick:beer:
     
  18. tringlomane

    tringlomane STP Addicted Beer Snob

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    And Hard Rock is grossing about the same amount Horseshoe is right now.

    And it's the same way in STL, the suburbia casinos do significantly better. I don't want to drive my ass 45 minutes to Lumiere Place downtown!
     
  19. dvandentop

    dvandentop VIP Whale

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    Thanks for that info not seeing on the 1st link all the game listings though?

    Can you copy and paste it in here
     
  20. doo1963

    doo1963 Tourist

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    For table game players, life myself, the rocksino isn't a viable option for my gambling dollar. Will be interesting to see what the Rock Gaming rewards program will
    offer. They are going to have to partner with area restaurants for reward credit redemption as using reward credits earned at the food court or buffet will get old quickly.
     
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