Is anyone aware of the future plans for playing conditions at the Horseshoe? Harrahs conditions are terrible and was wondering if the MTR owned casino was any better.
New Years at the Rio, I saw a first. Even money Naturals and Double only 10/11s on single decks. I really don't imagine this would sit well with the odds conscious downtown players.
Thanks in advance for any insight!
The Speedway Casino is a little grind joint in a bad North Las Vegas slum neighborhood. Directly behind it are tenements, with shootings and stabbings on a regular basis. The Speedway's cage has been robbed several times. It now has bullet-proof plexiglass to protect the employees.
The Cannery took away most of the Speedway's business. The few remaining patrons appear to be gang members or street people. They almost make the Western look upscale.
There are a few poorly cut 6 deck shoes, a couple of poorly cut double decks, and one Superfun, on which pref shuffling is blatant.
The place is filthy, but it may be hard to keep clean because of the type of patron they have.
MTR also operated the ill-fated Speakeasy Casino in a similar neighborhood just east of downtown Reno. It went out of business in a short time. The games there were awful, especially by Reno standards.
MTR is going to have do better to survive downtown.
From the Las Vegas Review-Journal:
Earnings decline for Speedway parent
MTR Gaming Group, the Chester-based company operating the Speedway Casino in North Las Vegas, on Friday said third-quarter net income fell 3.2 percent compared with a year earlier.
In a statement, MTR said net income was $6 million, or 21 cents per diluted share, for the three-month period ended Sept. 30, down from net income of $6.2 million, or 22 cents per diluted share, a year earlier.
The most recent results topped the 19-cents-per share estimate of analysts polled by Thomson First Call.
Cash flow, defined as earnings before interest, taxes, depreciation and amortization, rose 19.7 percent to $17.6 million from $14.7 million.
Total revenue rose 8.9 percent to $84.1 million from $77.2 million. Revenue at MTR's Speedway in North Las Vegas was $2.3 million in the third quarter. The property incurred an cash-flow loss of $78,000, the company said, due largely to new competition in the North Las Vegas market.
