wich casino sank in Buloxi?
 

Larry King Live said one of the casinos broke apart and sank.

Re: wich casino sank in Buloxi?
 

I would say boo hoo for the casino but I'm sure they are insured out the yin-yang.

Re: wich casino sank in Buloxi?
 

from a news posting....

The Hard Rock Casino on Casino Row in Biloxi, which was scheduled to open next week, will have to be rebuilt. The superstructure was severely damaged.

Jim Cramer just recommended Penn gaming stock interestingly enough today. Dont know if they have gaming interests in Buloxi though....

Re: wich casino sank in Buloxi?
 

Penn National Gaming is mostly known for owning Penn National Race Course, at least to me a native of Pennsylvania. Penn National Gaming does own Boomtown in Biloxi.

Re: wich casino sank in Buloxi?
 

They are acquiring Argosy for 2.2 billion, though the Government vote on the deal was delayed.

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.

Re: wich casino sank in Buloxi?
 

[ QUOTE ]
Hollywood in Tunica is hardly a big fish. It is one of the small-fish.


[/ QUOTE ]

I wouldn't even be that nice to it. I would call it a smelly fish in a big pond. It is one of the worst casinos I have ever visited for reasons too numerous to mention.

Re: wich casino sank in Buloxi?
 

i agree (and fwiw - I know a few blackjack/roulette dealers there who would also agree)

but Kramer was plugging Penn as this ultra-strategic gaming corporation that always puts in 'decent but not great' casinos in areas where they can practically own the town.

This is very obviously not true for them in Tunica or Biloxi.

I was REALLY unimpressed with Kramer's 'spin' on this. He's either pretty ignorant about a couple aspects of this company or he is just plain lying.
Since he was promoting this company so heavily I think it's pretty irresponsible WHICHEVER ONE is true.

Re: wich casino sank in Buloxi?
 

I want to clarify again that I don't know whether or not this company is profitable or is a good investment or not.
Just pointing out that Kramer really seemed to be misrepresenting them on this one.


Also - I'm remembering living in Hattiesburg in 1996 and occasionally heading to Gulfport and a couple other casinos down there.
There was a Hollywood casino that I think was in Bay St. Louis, MS at the time. It was exactly like the current Hollywood casino in Tunica. Don't know if Penn owned it back in 1996....but it was the worst-run and emptyest casino I have ever been in.
It was a stupid place to put a casino...and I think they might have just closed up shop shortly thereafter.


I don't think it is THAT hard to make money in the casino industry.
Set up a bunch of -EV games and take your customers' money.
But my experience with them is that their casinos are not that well-run and that the management that is employed there is grossly incompetent.

Even that doesn't mean that this group can't be profitable. They probably are.
But I would just be skeptical of an organization that seems to have so much obvious incompetence within their ranks.

Re: wich casino sank in Buloxi?
 

[ QUOTE ]
Don't know if Penn owned it back in 1996...

[/ QUOTE ]

Penn aquired Hollywood in 2002.

Re: wich casino sank in Buloxi?
 

I think it was the Grand in Biloxi. From what I read it is destroyed.

Re: wich casino sank in Buloxi?
 

In the past Jim Kramer has been known to talk up individual stocks that he already holds positions in when coming on CNBC.

I would hope that now that he is a comentator, this would not be the case...but I wouldn't bet on it.

Take what he says with a grain of salt. He's an idiot. It may be entertaining, but that's about it.

Think about it from a "poker perspective". He's talking to the fish.

Just my opinion,

Ironman Dave

Re: wich casino sank in Buloxi?
 

I believe this is highly likely. I know it is a small sample size but one of my buddies followed his recomendation and took a serious hit.

Re: wich casino sank in Buloxi?
 

yeah. The Hollywood is the only boat in Aurora.

Re: wich casino sank in Buloxi?
 

Re: wich casino sank in Buloxi?
 

little love?

Re: wich casino sank in Buloxi?
 

If you notice, I do about 50 at a time about every 5 days or so. That day is likely to be Wednesday.

Re: wich casino sank in Buloxi?
 

From a friend of mine who works at a paper in the area...

--U.S. 90 bridge leading from Ocean Springs to Biloxi's Casino Row (Isle of Capri, Casino Magic, Grand Biloxi, Palace) is completely destroyed.

--Palace Casino's hotel has snapped in half. Part of it has collapsed into Biloxi Bay.

--Some reports have the soon-to-have-opened Hard Rock Casino having to completely rebuild, but the parking garage and the guitar sign looked OK from U.S. 90.

--Beau Rivage looked OK from the U.S. 90 side as well, although the traffic light in front of it was torn down. That said, I'll be shocked if any of the casinos will be open again prior to the Super Bowl.

From the Sun Herald Web site...

* Grand Casino Biloxi: Washed across U.S. 90.
* Beau Rivage: Standing.
* Treasure Bay's pirate ship: Beached.
* Hard Rock Casino: Half destroyed.

Re: wich casino sank in Buloxi?
 

Sounds bad, really bad.

Re: wich casino sank in Buloxi?
 

K thanks, was just worried it fell off the radar.

Re: wich casino sank in Buloxi?
 

just watched a report on cnbc and it doesn't look like any of them escaped completely, with about half suffering what looks to be close to total damage.

Re: wich casino sank in Buloxi?
 

[ QUOTE ]
Grand Casino Biloxi: Washed across U.S. 90.

[/ QUOTE ] this is shocking this was really a nice play to play poker,eat and spend the night. I just saw pics of this -very disturbing. Not only have most of these people lost their own homes but also their place of employment-total devastation..I've been thru a bunch of Cat.4 hurricaines down here in Florida its one thing to be out of power,ice,clean running water for 2-3 weeks which must people cant imagine until it actually happens to them.. its another thing to lose everything -house and job..

Re: wich casino sank in Buloxi?
 

i keep hearing them say on CNN that the casinos were floating and therefore dangerous.

i remember when i worked at the grand in biloxi we used to "sink" the barge the few feet to the bottom. now i see that the report says the casino is across hwy 90.

did they stop sinking them for hurricanes, or was the surge that powerful?

finally, i have 2 friends that live(d) in quiet water apartment complex and they said they were getting out on saturday. they were moving to jackson and i can't get them on phone to make sure they left. is there any cell service yet?

tia

Re: wich casino sank in Buloxi?
 

[ QUOTE ]
[ QUOTE ]
Grand Casino Biloxi: Washed across U.S. 90.

[/ QUOTE ] this is shocking this was really a nice play to play poker,eat and spend the night. I just saw pics of this -very disturbing. Not only have most of these people lost their own homes but also their place of employment-total devastation..I've been thru a bunch of Cat.4 hurricaines down here in Florida its one thing to be out of power,ice,clean running water for 2-3 weeks which must people cant imagine until it actually happens to them.. its another thing to lose everything -house and job..

[/ QUOTE ]

CNN just had an employee of the Grand on air. He said it had split in half. Half sunk and the other half is across the highway.

He said "I work ... well, I used to work there because it's not there anymore."

Re: wich casino sank in Buloxi?
 

[ QUOTE ]
surge that powerful

[/ QUOTE ]

30 foot surge supposedly. That would take it right up and off its pilings... The Grande didnt look like a barge like all the other crappy casinos up there.....shoot in the picture that huge parking garage right north of the casino is nowhere to be seen! The barge is now sitting acroos the street on what was a 2/3 story parking garage.. Just last summer late in 2004 I escaped twiceup to Biloxi to get away from hurricaines heading to southcentral florida. The whole area is only a few feet above sea level. I went to the Biloxi SeaFood festival -great grub and blues at point cadet --they say many people died in this area ..it's between the gulf and the back bay..really sad..This will take two or three years for Biloxi to rebuilt and it will never be the same-hurricanes wipe away trees and other landmarks for good and the feeling of a place . I wonder how the Biloxi Natatorium fared-its about 4 blocks off the beach-great place to swim..

Re: wich casino sank in Buloxi?
 

when i heard last night that a casino had broken and floated, i would have bet my last dollar it was treasure bay. they must have dragged that somewhere, no?

and you are right GG, this will be horrible for the biloxi/gulfport market and quality of life there.

such a disaster.

[img]/images/graemlins/frown.gif[/img]

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Here's a link to some photos of the damaged casinos..I was supposed to be there this weekend playing..crazy

http://hosted.ap.org/dynamic/galleri...MPLATE=DEFAULT

(not sure which photos are of the casinos as this site is being updated constantly.)

Re: wich casino sank in Buloxi?
 

yea this really bums me out. [img]/images/graemlins/frown.gif[/img] I usually play up there for a few weeks a year just as a diversion. Biloxi Grande was one of the funnest places to play-low key,not nasty and pushy like AC or LA rooms ..had a real southern slow way about it..not sure if that held up after Harrahs took it over becuase Harrhas in general tend to sshit on poker players...Harrah's had suuposedly just raised rakes or planned to.. Tunica is such a hike from the Gulf Coast.

photo of the Palace casino half-sunk
 

http://hosted.ap.org/dynamic/galleri...MPLATE=DEFAULT

Ummm i tried to put the photo up here, but i don't know how..if someone explains it to me i will try again

grrr...that link leads to another photo now due to the site being updated constantly...it's in there somewhere though

Re: wich casino sank in Buloxi?
 

[ QUOTE ]
yea this really bums me out. [img]/images/graemlins/frown.gif[/img] I usually play up there for a few weeks a year just as a diversion. Biloxi Grande was one of the funnest places to play-low key,not nasty and pushy like AC or LA rooms ..had a real southern slow way about it..not sure if that held up after Harrahs took it over becuase Harrhas in general tend to sshit on poker players...Harrah's had suuposedly just raised rakes or planned to.. Tunica is such a hike from the Gulf Coast.

[/ QUOTE ]


assuming that the barge is completely destroyed, i would think it is a high probability that the new poker room will be even bigger & better after they rebuild. the rebuild will be as quick as possible i am sure. this loss of revenue will devistate MS. i have heard the loss of revenue at 500k per day just for the taxes.

i wish the missing and hurt people the very best. i wish the state a speedy rebuild.

Re: wich casino sank in Buloxi?
 

Cramer has always disclosed if he held a position in a stock when discussins it on-air. All the way back to the pre-bubble days when he would co-host Squawk Box. There was a stink made by a small company he mentioned negatively on the show that resulted in him not being allowed on the show for a while during an investigation. Nothing came of it (the claim that he was short the stock when he bashed it).

Re: wich casino sank in Buloxi?
 

you sir need to do some more research!

cramer openly admits to all kinds of borderline fraudulent activities in many of his books.

Re: wich casino sank in Buloxi?
 

[ QUOTE ]
assuming that the barge is completely destroyed, i would think it is a high probability that the new poker room will be even bigger & better after they rebuild. the rebuild will be as quick as possible i am sure. this loss of revenue will devistate MS. i have heard the loss of revenue at 500k per day just for the taxes.

i wish the missing and hurt people the very best. i wish the state a speedy rebuild.

[/ QUOTE ]

I wonder if when they start to rebuild the casinos the state would consider changing the legislation about having them built on barges. Even to someone uneducated on the matter it does not make sense to build casinos on barges that should survive hurricanes. Obviously I know not all hurricanes are this big, but you have to plan ahead just in case.

They just showed the "C[o]pa"? Casino on CNN and supposedly it moved a half mile.

(Edit: Also posted the below in the other thread)

From Harrah's web site:

[ QUOTE ]

To ensure the safety of team members and customers, Harrah's New Orleans, Grand Casino Biloxi and Grand Casino Gulfport are now closed. We will reopen as soon as it is safe. At this time, we anticipate Harrah's New Orleans will open no sooner than Friday, September 30, 2005. Our Grand Casino locations, however, are closed indefinitely.


[/ QUOTE ]

Re: wich casino sank in Buloxi?
 

Our Grand Casino locations, however, are closed indefinitely.

wow

thousands of people out of work. let's hope the state and harrah's can help.

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good lord. i have been working on a hurricane relief tourney (details in internet forum soon). anyway, i just turned on tv and they say HUNDREDS feared dead in biloxi?


this sux

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It won't surprise me if it is at least six months before casinos reopen in Biloxi. And in light of the levee break in NO, can't see Harrah's reopening there in a month.

Harrah's is definately going to have to spend some big bucks in this disaster.

At least they, unlike a whole bunch of other businesses and individuals, have it to spend. It's gonna be a chunk of cash tho, even considering what Harrah's is worth.

If there was ever a time for Mississippi to change the law requiring the "boats" to be on water, the time is now. Surely they will allow them to go land based in the rebuild.

Edit....just read on CNN that all the casinos have been destroyed.

Re: wich casino sank in Buloxi?
 

[ QUOTE ]
If there was ever a time for Mississippi to change the law requiring the "boats" to be on water, the time is now. Surely they will allow them to go land based in the rebuild.

[/ QUOTE ]

With the amount of money MS is losing everyday, I think they will most likely wave the water based casinos legislation.

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I'm sure Harrah's is insured to the hilt. I agree it's the employees and others who need our support and prayers.

Re: wich casino sank in Buloxi?
 

[ QUOTE ]
He's an idiot.

[/ QUOTE ] That is an insult to idiots, and if you had read his book you'd know that. I've seen worse pundits but they were too drunk to talk.

As for sunken casinos, on a list of 1,000 serious concerns about the areas affected by this disaster, casino damage ranks 1001.

Re: wich casino sank in Buloxi?
 

[ QUOTE ]

As for sunken casinos, on a list of 1,000 serious concerns about the areas affected by this disaster, casino damage ranks 1001.

[/ QUOTE ]

Actually this couldn't be further from the truth. Loss of lives, loss of homes, loss of JOBS. The jobs help people rebuild all that they have lost personally.