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Sat January 21 M&G and HL Slot Pull at Luxor

Discussion in 'Vegas Get Togethers' started by Chuck2009x, Nov 4, 2016.

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  1. Chuck2009x

    Chuck2009x VIP Whale

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    I got a unexpected comp offer for a Premier Suite at Luxor and I always wanted to check it out, so I booked it for Jan 20 & 21. I'll probably upgrade to a Deluxe version and I'm thinking of hosting a M&G one of those nights.

    I'll update here if there's interest, or PM me. If there's enough people, I'll probably bring in some light catering for a couple hours of pre-gaming then hit the casino, maybe a slot pull.
     
    Last edited: Nov 5, 2016
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  2. Chuck2009x

    Chuck2009x VIP Whale

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    Bumping this since we're now getting close. 4 members from another board have expressed interest in a group HL Slot Pull on the 20th or 21st, that's not a lot but it's a decent start. It's kind of an off-weekend it seems.

    Looking to do it at an MGM property, if not at Luxor. Still open to doing a M & G in the suite or possibly just buying a round or two of drinks with resort credit.

    If interested, leave a note here with any preferences and I'll follow up. My own main preference is that we do it at an MGM property, but it doesn't necessarily have to be Luxor.
     
    Last edited: Jan 4, 2017
  3. Drewm1972

    Drewm1972 VIP Whale

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    Hi chuck always wanted to meet mr. wise vegas :) wish I could be there... but can't do. Anyhow, have a great time!!!
     
  4. william142

    william142 MIA

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    I'm in for the 21st.
     
  5. zNaturaL

    zNaturaL Low-Roller

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    Sounds fun but I'll be at Luxor this weekend. have a good time!
     
  6. Chuck2009x

    Chuck2009x VIP Whale

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    OK, looks like we're up to 7.

    A couple of people specified Sat the 21st, so for now we'll shoot for that. And a couple are wrapping up slot tourneys late in the afternoon, so we're probably looking at an evening time, like 8:00pm with a little wiggle room on either side. Location TBD, but most likely an MGM property.
     
  7. Lovegas95

    Lovegas95 High-Roller

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    As usual, good timing isn't my strong suit. I would love to meet you Chuck. Hopefully our paths will cross sometime.
     
  8. hundth

    hundth Low-Roller

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    I'm interested. I'll be in town that weekend.
     
  9. Chuck2009x

    Chuck2009x VIP Whale

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    OK, added you.

    We'll try to nail down location and time by next weekend. Right now looks like Sat the 21st at 8:00pm-ish, with the pull starting sometime after that. Probably Luxor, Aria, or Bellagio.

    I'll update in this thread or by PM, and then when I arrive on the 20th, I'll PM my phone #.
     
    Last edited: Jan 6, 2017
  10. Chuck2009x

    Chuck2009x VIP Whale

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    OK, we're up to potentially 8 or 9.

    Let me throw out this proposed procedure. Trying to keep it relatively simple, not set up too many "rules," but also anticipate certain things that could arise. Any participating members or group pull vets are welcome to comment.
    • I don't know what everybody's play level is, so I'm initially proposing a "share" will be $200 per person. If people are good with bumping that to $300, let me know; or if $200 is too high for anyone, we can make it $100 and allow people to buy in for more than one share.
    • We can draw lots or just sorta decide on the fly the sequence of players, like alphabetically, or by height, lol.
    • Each player gets to choose their own machine, denomination, and bet per spin while playing their share (this line has been edited regarding use of player cards - see last paragraph at the end of this post).
    • Some players may ordinarily never play high denom or high per spin, so I think we should allow complete choice on that. If someone wants to do their share on a $5 single line 3-reel, that's OK, if they want to do $40 a spin on Cleo II, that's OK, and if they want to do a single 2-coin spin on a $100 machine, that's OK. Players can switch machines during their session if they want.
    • Assuming we play at an MGM property and a player doesn't have an MLife card, or doesn't want to use it because of ADT concerns, I have a suggestion that I'll bring up later.
    • Video Poker is OK, although there I'd suggest a minimum of a $1 denom machine ($5 a hand) or else we could be there all night.
    • Play method:
      • Option A: Each player plays their share down to zero with an exception in the case of a large win as discussed below.
      • Option B: Each player plays only $200 coin-in, then cashes out, and the remainders get combined and redistributed to players at the end of the pull. A large win potentially stops play same as with Option A.
      • My own feeling is that $200 is a small enough buy in that I'm willing to lose it all and use Option A. More spins is always going to give you a better shot at a large win.
    • Large wins:
      • If at any point, the total remaining unplayed pool plus winnings is equal to at least 2x the original pool (ie. we're sitting on a doubled buy in), we poll the group to see if we want to stop.
      • Example: 8 players, $200 each for a total pool of $1,600. First player, first spin hits a $2,000 handpay. We see if people want to stop (no fun). Or,
      • An alternative (more fun) in that scenario is to "pocket" the winnings, and continue to play down the original pool. Or the other way around, pocket the original buy in and play with the winnings.
      • The same would hold true for any big win amount that at least doubles the original pool - stop, or pocket some and continue playing the rest.
      • There's one other scenario I haven't really thought out - a big line pay that comes near the end. Like we're down to the last $200 and someone hits a line win for $1,000. I think we'll just rely on the group's instincts in a situation like that.
      • Flat tip of $20 from the group for any handpay. If we hit something ginormous and people want to add something to that, they're free to.
      • If we hit for $5,000 or more, we immediately cash out and put it all on a single number at roulette (KIDDING)
    I am deliriously happy to say that we currently have a member of the group who is qualified to take any W2g's without tax liability or withholding and has volunteered to do so.

    Edited to add: I have been informed by a highly reliable authority that our W2g angel's card must be used for all spins in order to get the tax benefit. I think this is a no-brainer:
    • MLife gives you a total of about 2 cents in ECs and Freeplay per $3 coin-in, or 0.7% (seven-tenths of one percent). Compare that to the potential tax benefit.
    • If your card is in the machine for a large win, your W/L statement will reflect it. But you will only be receiving a share of that amount. And the big win on your W/L will lessen your ability to offset any other W2gs you get on your own.
    • On a $200 buy in, with average luck, I estimate you'll be giving up about 3,000 TCs. Again, this is dwarfed by the potential tax benefit. I'm just guessing, but I think for most of us, the TCs are not going to be an issue. If someone really needs the TCs to go over a tier threshold or something (or any reason really, no questions asked), they can use their card, no problem. (and just hope we don't hit a $100,000 payday, lol)
     
    Last edited: Jan 7, 2017
  11. RealSolGlow

    RealSolGlow MIA

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    I am firming up plans right now to arrive at MGM the early morning or afternoon of the 21st. The problem is I'll be going with the intent to attend the AVN Awards with VIP ($450 ticket.) My job has deemed "Critical" by my company so I have to see if I can secure the 23rd off to make this happen. I'll find out today as Spirit has a 55% off sale and R/T would be $121.00 (can't pass that up.) I'll know more tonight for sure and if there's an earlier time for the pull I'll be in. I did one last year with a few board members and it was pretty fun and a learning experience.
     
  12. Chuck2009x

    Chuck2009x VIP Whale

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    Right now, it's heavily weighted towards the 21st and evening, because most have indicated that day is best, a few are in slot tourneys that don't wrap up until 5:00 or 6:00pm, and most would rather do it in the evening :drunk: as opposed to early in the afternoon. That could change, but that's how it looks right now. Hope you can make it...
     
    Last edited: Jan 6, 2017
  13. Chuck2009x

    Chuck2009x VIP Whale

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    Maybe another time...this will be the first one I've done, should be interesting. :beer:
     
  14. RealSolGlow

    RealSolGlow MIA

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    I am committed. I arrive very early the 21st and have canceled the AVN show. Let me know where and when and I'll be there. I'm good with the $200 buy in. I prefer mLife as that's all I gamble at. I'll be staying at MGM.

    Book me. I'm in!
     
  15. Chuck2009x

    Chuck2009x VIP Whale

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    OK, got you. Right now it's 8:00pm meet, 9:00pm pull at Luxor, Aria, or Bellagio. Hopefully we will be able to lock down time and location in the next few days. We're at 10 players as of now.

    One note about players cards, since I edited the post about the "rules" above and you may not have seen it (read it if you haven't). We have someone who is going to take any W2s with no taxes and no withholding. But their card has to be in the machine when a handpay hits. So we're planning to use their card for all spins in the group pull, but if anybody really wants/needs the TCs from their own share, that's OK, they can use their own card.
     
    Last edited: Jan 7, 2017
  16. RealSolGlow

    RealSolGlow MIA

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    That's how we did the pull from Mirage that I was involved in early last year. I knew the player who would take the hit would have to have their card in so I figured there was a correction in line. I'm fine with it. They will get a nice bump in TC and comps and play etc. The trade off is there. If there's a hit, the tax is on them. If there's not, they get one hell of a nice show of play at one of the resorts.

    I wonder if its the same player as last time that was in on the one at Mirage. Either way, doesn't matter for me. When I did the last pull it was $100 buy in with 9 players. Once that fizzled out myself and 4 others went in on another $100 buy-in until that fizzled. We hit once for a decent hit but not enough to cover what we had in so we went for broke. I'm the "all in/all out" type of player but I am down with whatever the majority decides if and when the time comes to either break even or keep going.

    See you guys on the 21st for the meet.
     
  17. Chuck2009x

    Chuck2009x VIP Whale

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    We're up to 10 players right now. About half have commented on the setup. So far everybody's good with:
    • $200 buy in (we have one player who may need to do $100, which will be OK)
    • Everybody plays their share down to zero if we don't have a hit that causes us to stop
    • I think these those two things are pretty well locked in
    • Everybody's fine with 8:00pm meet, 9:00pm pull so far, and doing it at Luxor. But I want to leave that open for a couple of more days. If a few say Aria or Bellagio would be much better for them, then it makes sense to do that if it ends up saving us a couple of last-minute drop-outs.
     
  18. Craps_Player

    Craps_Player Low-Roller

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    This actually sounds rather cool !! Let me know if you're going to do something like this during April (I'll be in town for most of it). I'm not a USA resident so have absolutely no idea about this Tax business you are referring to (W2G??).
     
  19. Chuck2009x

    Chuck2009x VIP Whale

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    Any slot machine win of $1,200 or more is reported to the IRS on a Form W2g. US residents are allowed to offset wins with losses, but if they have a net win for the year, they pay tax on it. And some individual states with their own income taxes do not allow offsets from losses - you get taxed on the entire amount.

    The US has tax treaties with certain countries that allow reportable winnings to be tax free. However, the normal process in that case is that the casino withholds up to 30% and then the non-US resident has to file a form to get it refunded later. That withholding would reduce the amount distributable to the group unless the person taking the W2 had the cash on hand to make it up.

    In our case, we have a player who is exempt from both the tax AND the withholding.
     
    Last edited: Jan 9, 2017
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  20. Chuck2009x

    Chuck2009x VIP Whale

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    All right, I've heard from 7 out of 10 overall, and all are OK with Luxor and the time, so I think we can firm up time and place. Still open to new participants.

    • Sat Jan 21
    • Official meet is 8:00pm at the Centra bar at Luxor. from what I can tell, this is the largest bar in Luxor and it's in the middle of the casino, so it should be easy to find. It looks like there's a least one large seating area that will fit most of us if we're lucky and snag it. So I'll go down there about 10 mins early and hang out in front. I'll wear something recognizable. As people arrive, you can either hang out near the entrance with me, or head on inside. 8:10, 8:15 or so, I'll join and buy a round. Spouses/guests welcome of course (and can participate in the pull unless someone can think of a good reason why not).
    • If everyone we're expecting arrives before 9:00pm, we can head over the to HL room anytime.
    • Pull begins by/at 9:00pm, but we'll take a few minutes to scope out the machines so people can figure out what they want to play.
    • Stragglers - if you don't think you'll arrive at the HL room by 9:00pm, please call or text me (or another member if you have their contact info) or post here. I don't think we really want to delay starting, but we can wait a little bit, or start without you, as long as we know you're on your way. If there's radio silence we'll start on time, and if we get started and someone walks in at 9:30...let's just try to avoid that.
    • The pool - I just thought of this today. I think it will be a good idea to collect everybody's share right before the pull, put it in an envelope and then withdraw from the envelope for each person's pull. The reason is that the unplayed portion is part of the total distributable pool. I will have a little notepad and be keeping track of things, but for example, if we hit something big that's a potential stop point, it'll be easier to just add those winnings, cash out the remaining credits on the machine, add it all to the envelope and then divide it up equally, instead of doing the extra layer of figuring out how much a person who still has their $200 in their pocket should get. It'll help avoid math mistakes due to impairment, lol.
    • Pre- and after- I'm going to leave this tentative for now, because I won't know if I will be able to upgrade to the larger version of the suite until I get there. But if I get the big version and I have my shit together, I'll grab some snacks and some party cups and ice, and people can come up before (say from 6:30 on) and/or after (until say midnight or 1:00am - I'm switching hotels the next morning).
    • Saturday morning of the pull, I'll PM the group my phone number, description of what I'll be wearing, and if the "open house" is a go, my room number.
    • Will keep an eye on this thread between now and then.
     
    Last edited: Jan 8, 2017
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