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Lets say you won 500 million in a lottery.

Discussion in 'Misc. Vegas Chat' started by Pocketaces, Apr 22, 2012.

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  1. Pocketaces

    Pocketaces Tourist

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    What Casino would you buy?

    After taxes and stuff would 300 million cash be enough to be enough to buy Bills or Casino Royale? Maybe Binions Downtown.

    If you had the cash to buy one of the lower end casinos would you? What if you had to spend every dime of your winnings?

    If I had 300 Million cash Id at least think about it. Bills is a diamond in the rough.

    3-2 blackjack and good pay tables and I'd have the place packed in no time.
     
  2. luvlv

    luvlv Low-Roller

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    Wouldn't buy one, but I would be at them frequently.
     
  3. leo21

    leo21 VIP Whale

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    300M? That would maybe get you a casino offstrip or in other parts of Nevada. It would be a fixer upper and you would still need capital to try and make improvements. The only casino you could probably get for that price and still have money to invest in the property is Hooters and I don't know if anyone can make that place successful.
     
  4. JosieCat

    JosieCat VIP Whale

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    Ditto! Too much work!
     
  5. Marky147

    Marky147 High-Roller

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    ^^ Same as that
     
    Double digits!
  6. wigwam_salesman

    wigwam_salesman VIP Whale

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    If I win the lottery I'll be quitting work, not starting it.
     
  7. Pocketaces

    Pocketaces Tourist

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    Treasure Island went for 775 million. How much would Bills or Casino Royale cost right now?

    What about Binions?
     
  8. Auggie

    Auggie Dovahkiin

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    Bill's would not be for sale for any amount. CET acquired it for future plans they have for that section of The Strip.

    Casino Royale is for sale but only to one customer: CET. They know CET wants it for the same future plans as to why they got Bill's and they've been doing what they can to jack up the price and jerk CET around about it.

    And you would lose money at it for the first few months before eventually changing your pay tables so they are worse and introducing 6:5 blackjack at the lower stakes.

    Also 3:2 blackjack isn't what packs 'em in, and nor is 6:5 blackjack driving them away... look at the different CET properties with their 6:5 tables: often full with people milling about waiting for a seat.
     
  9. C0usineddie

    C0usineddie VIP Whale

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    Would not buy one but would certainly live above one.
     
  10. leo21

    leo21 VIP Whale

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    I dunno. Harrah's overpaid for Bill's and IP. And it's really hard to gauge what things are really worth on the strip because the last two big transactions were at the height of the boom (New Frontier) and the bottom of the bust (TI). I do know the bank that holds Hooters was trying to get 80M and couldn't. If that's a fair valuation, Bill's and Casino Royale are going to be worth more because they are actually on the strip and actually have a real customer base and goodwill. At the end of the day, Bill's isn't for sale as it has strategic value to CET. And if I owned Casino Royale, I wouldn't be all that interested in letting it go unless someone was going to overpay. They are probably printing money in that joint and it doesn't take much investment to keep the customers happy.
     
  11. Tromboneking

    Tromboneking Tourist

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    First thing I would do is become debt free, make sure I had plenty to live on...take care of my family....and THEN...

    I would be in Vegas every chance I got...would not buy a place though...too much risk and work...
     
  12. wishman35

    wishman35 VIP Whale

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    Easy to say now, until you realize money needs to made on the property and then you realize why 6-5 is prominent
     
  13. Uncle Steve

    Uncle Steve Low-Roller

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    My priorities if I won that amount of money.
    1 educational trust funds for grand kids and nieces/nephews.
    2 Donation to church
    3 Anew home and shop
    4 Form a charitable foundation to help volunteer fire departments.
    5 Help friends and family become debt free.
    6 My own aircraft so I can travel rapidly.
    7 A vacation home in Costa Rica or Belize.
     
  14. Vegas Name Ron Mexico

    Vegas Name Ron Mexico Low-Roller

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    If its a dream of yours, go ahead. but if I won $500 million, buying a casino would only bring me stress that my rich ass no longer wants. I would just pay my bills, buy a STRIP CLUB, and then simply ball out of control!!:beer:
     
  15. Beka27

    Beka27 Tourist

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    How much would it cost to buy a suite outright to live in 24/7/365, or at least so no one else would ever be in it? It would be nice to bring in some personal possessions... lol
     
  16. Pocketaces

    Pocketaces Tourist

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    Wow. Steve Wynn once said that the only way to make any money in a casino is to own one.

    I know this is a gambling board but sheesh. So far no one would want to be a casino owner, but you all think that 6-5 is a good business model and you're wondering how much a suite would cost to live there.

    I'm sure that the casino could work out a free room for you if you wanted to live there until you lost your lottery winners on the penny slots.

    :confused::confused::confused::confused:

    It think it would be fun to be on the other side of the tables and have a built in edge over the players.

    I still think that I could make money at one of the smaller casinos.
     
  17. Debh

    Debh Low-Roller

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    I would buy a penthouse or so at Aria or Cosmo for sure.
    Then spend as much time there as the USA would allow lol.
    We are retired so we could go anytime
    Would also buy a small plane, no more searches or luggage worries.
     
  18. ardee

    ardee VIP Whale

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    See previous references about turning a hobby into a job. No way would I want to buy a casino. I don't have the skill-set to run one, and would just lose all my money even faster than I would playing 6-5.
     
  19. veovis23

    veovis23 Low-Roller

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    :thumbsup: I approve!
     
  20. merlin

    merlin VIP Whale

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    I would spend about $5 million to buy the closed Western, and return it to its former glory!
     
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