Re: wich casino sank in Buloxi?
I saw Cramer's take on Penn today and I think he is slightly off.
I don't know if they are the only game in town in Aurora, Ill....but he also half-indicated that ALL of their properties are pretty much big fish in little ponds and this simply isn't true.
Hollywood in Tunica is hardly a big fish. It is one of the small-fish.
There are 9 casinos in Tunica and the Hollywood is definitely in the bottom-half of that group.
They might still be profitable there....dealers I know there indicate that they cut corners as best they can to save a buck here or there.
but Kramer's idea that Penn is simply in the market of scoring the tennyest markets possible isn't accurate.
It ain't as big as Vegas and I think he's probably correct that it's tough to win over any new market with the big mega-casinos in vegas (and that the amount of money you are putting into it makes it a bigger risk).
I would be curious if his take on Hollywood in Aurora is correct...because it certainly wouldn't apply to their Tunica property.
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