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Effect of New Rules at WYNN

Discussion in 'Casino Industry & Development' started by Spock, Apr 5, 2016.

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  1. Spock

    Spock Tourist

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    Looks like amount gambled is down YOY for Q1 and so is the profit (in $) but win % for the casino is ..

    Stock has had a huge run .. down a bit after hours

    From VT website:

    wynn-q12016-analysis.jpg
     
  2. Snidely

    Snidely VIP Whale

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    I read Wynn is fighting to keep control of his company. Something about his ex-wife wanting to sell her shares but she's not allowed to sell as part of their divorce agreement and some other folks are clamoring to buy them.
     
  3. tringlomane

    tringlomane STP Addicted Beer Snob

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    The year-by-year numbers have little to do with craps rules changing though. Baccarat, with its traditionally low hold (12.98% for the last 12 months), is down 17.58% in the last 12 months over the 24 largest Strip casinos, leading to a 7.23% drop in overall table game win. What I'm shocked by is Wynn's hold percentage for both years. Seems awfully high vs. what is expected on the strip. Overall hold has been 13.2% over the last 12 months for those 24 casinos. And Wynn also wins over twice as much on tables vs. slots? That's crazy. It's closer to 50/50 for the large strip casinos.

    http://gaming.nv.gov/modules/showdocument.aspx?documentid=11031
     
  4. thecarve

    thecarve Misanthrope

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    Ahh...you forget the DDB cock-slapping I gave him a few weeks back! :evillaugh:rolleyes2:
     
  5. Chuck2009x

    Chuck2009x VIP Whale

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    On their earnings conf call in July 2012, Steve described the swings in bacc hold - they had had a crappy quarter because their bacc hold was only 17%, when normalized (which I think he used in place of a term like "what we'd expect") would be 26%. And he said it had been as high as 37% in a quarter.

    Steve is the king (and in a lot of ways a prisoner) of bacc.
     
  6. 44inarow

    44inarow VIP Whale

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    It's both crazy and amazing how much effect bacc can have on a casino's bottom line.

    The other thing that makes Wynn a bit of an outlier is that he's not really diversified, for lack of a better term. I'm sure if you looked at only Aria/Bellagio there would be similar swings, but MGM also has a huge range of properties in Vegas, from Circus Circus all the way up to Aria/Bellagio. Same for Caesars, they have Caesars but also Bally's, Harrah's, etc. Wynn only has Wynn/Encore, which generally speaking attracts a specific type of high-roller clientele.
     
  7. Big Tip

    Big Tip VIP Whale

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    From the first page of this report, it shows that same fact statewide. How can that be? We all KNOW that slots win more than table games for casinos. Supposedly 70/30 split I think I read.
     
  8. hammie

    hammie VIP Whale

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  9. Dean Martin

    Dean Martin VIP Whale

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    I wouldn't be surprised if that's edging closer to 50/50 given the worsening rule for BJ and all the "carnival games" in casinos now days that would be included in the table game #. Baccarat is always going to give show swings qtr to qtr and month to month.
     
  10. tringlomane

    tringlomane STP Addicted Beer Snob

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    In many markets not named the Vegas Strip though, it's slots in a land slide. Even downtown LV, it's a 2.5 to 1 ratio in favor of slot revenue. Boulder Strip is 7 to 1 in favor of slot revenue. In my home state of Missouri, it's about a 6 to 1 ratio in terms of slots.
     
  11. VegasDave

    VegasDave Addicted

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    Volume down significantly but rule changes took effect over more games than just craps. The surprising number to me is that profits inched up because they f'd their rules against the players.
     
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