Two years ago, in 2015, Caesars Entertainment filed for bankruptcy in federal court. This put all of their casinos under the control of a court appointed Bankruptcy Trustee. This affected the following casinos: Caesars, Horseshoe, Harrah’s, Paris, Bally’s, Lina, Cromwell, etc. Here is the full list: https://en.m.wikipedia.org/wiki/List_of … properties.

Last month, October 2017, Caesars Entertainment ended the Bankruptcy. The result was a corporate restructuring, which, in summary, separated the properties, or real estate, from the gambling business. Caesars Entertainment is now ready to use its $2 Billion cash on hand to build a new convention center in Las Vegas and improve some of the lagging casinos. The Total Rewards program, the largest with 50 million members, will also be improved with machine learning of customer behavioral data (hmmm).

What does the bankruptcy and its end mean to us?

For me, this explains why it’s casinos, for the past year, have worried so much about any player that is up by $3,000 or more. Financial reporting aside (required by federal banking laws), I was having trouble understanding why a casino would walk someone out the door because they had 1 or a few good rolls. It’s bad business for a casino to be so obvious about wanting only repeat losers to enter the front door. Ordinarily, a casino would advertise a big win, so it would keep the dream alive for all those losing, that they too might become a big winner. Yet, lately, Caesar casinos had a hair trigger when it came to banning a player that had a good streak.

For GTC players, you might think, given unrestricted access to a casino, we would break the bank. For maybe a dozen GTC persons, could be. For the vast majority of us, not likely, and I’ll tell you why. I don’t see consistent use of the GTC grip and throw AND betting strategy, by those of us that don’t yet have the skill to be able to take liberties and still win – I’m describing almost all of us (that’s 90% of us, me included). Let’s face it, almost all of us get cocky or lazy, and, given the opportunity by a smart casino, will throw away the advantage we each should have. The casino then gets back the profit we made, and then some. All while just one good roll encourages the random shooters to throw down even more money.

Now, I am not being critical of anyone, except to point out the obvious – we ALL need to take a Refresher class at least once a year or more, to keep us disciplined.

What I am pointing out is that casinos have highly qualified people that understand human nature. For a successful casino, it is unusual and is very bad business for a casino to ban any player for a winning streak.

So when a casino ignores all that, and starts banning even new players that happen to win large, it is a clear and loud sign that business is bad. Such a casino is one to avoid. The bean counters are running those casinos, and they run it into the ground. A casino in bankruptcy court is definitely being run by the bean counters.

At the same time, like him or not, 8 years under President Obama and weak kneed establishment Republicans made for a sluggish economy, bad for casinos and most every other business. The bean counters ruled and most casinos sucked.

Now that the economy is up, and looks to be headed for an awesome comeback, business will be good. Hopefully, now out from under the control of a Bankruptcy Trustee, the Caesars casinos will get back to good business, welcoming successful players, bringing in 10 times as many new players that dream of making it big.

Replies: