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Board index > News, Information, Opinions & Gossip > Las Vegas Poker News


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Harrah's Shedding Rio



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Local Rock
 Post subject: Re: Harrah's Shedding Rio
PostPosted: Thu May 06, 2010 3:03 pm 
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Location: Drawing Dead and Getting There.
photoc wrote:
jjmaximum wrote:

The avg WSOP visitor brings $3,000-$1 million.


Wouldn't that be a range, not an average?
Cashewz wrote:
[mathgeek]Maybe he's predicting a range for the median? [/mathgeek]
So where in the range would be those who are there because they are the online winners of a $2 Poker Stars satellite to a satellite to a...

Last year the Palms was the dorm room, er, I guess they said it was supposed to be called "home base" hotel, for Team Poker Stars, i.e. those who were sponsored by them, getting their buy-in paid (I think mostly through cheap satellites) and their trip arranged in exchange for their agreement to cover themselves with PStars logo swag. Playing with some of them at the time I got the distinct impression it was the only time they'd been that far away from mom or a dorm monitor, and it had the feel of a kids field trip or a school's team bus on an overnight away game.

I didn't really feature them shooting dice at $1,000 a pop, but I could be wrong, since I didn't hang out a whole lot with the Stars clad boys after racking up.

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DayTripping
 Post subject: Re: Harrah's Shedding Rio
PostPosted: Mon May 10, 2010 8:48 am 
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This is all very entertaining conversation but it kinda reminds me of the non-stop rumors of how the "Big Game" is going to move to Aria. The WSOP is not going to Caesars or Planet Hollywood. It is staying at the Rio because Harrah's owns the Rio and will continue to own the Rio for the foreseeable future. I believe is was Photoc who mentioned earlier that the Rio has been "for sale" since 2003. There is nothing new here. Harrah's may be half heartedly trying to sell it, but who out there is going to buy it? Harrah's is in the business of buying properties for pennies on the dollar, not selling for pennies on the dollar, and unless the Rio is given away dirt cheap there's is nobody out there for whom it makes sense to but the property.

Since we're talking bets I'll gladly bet with anybody that the WSOP will be at the Rio through at least 2012.


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Local Rock
 Post subject: Re: Harrah's Shedding Rio
PostPosted: Tue May 11, 2010 5:15 am 
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I was nosing around the convention calendar for other reasons, and remembered this thread. So, for no good reason I decided to have a look to see how far out Harrah's was booking events at this joint. They go out to September of 2013. Not that this would necessarily tell anything about whether they'd be selling anything; I imagine convention booking contracts might get sold along with any casino as part of the asset.

But the 9/4-10/2013 confab is a singularly exciting event they'd hate to give up: the symposium and exhibits of the Electrostatic Discharge Association. Presumably complete with folks sporting little sticky ESDA nametags that say "Hi, my name is _Seymour , and I'm from _Hoboken, NJ ." I'd be all over those festivities myself, if I could figure out what the hell it is. Like static electricity when you scuff across the carpet in stocking feet? And why might one have an association with a symposium and exhibits on that? Well, whatever it is, they will be having it at the Rio for ten glorious days in September three years hence, so mark your calendars now. And welcome to the glamor of the Rio hotel and casino in fabulous Las Vegas...

DayTripping wrote:
but who out there is going to buy it?
Right. Who ya gonna sell it to? And if they sold the asset in today's depressed market, and lost its cash flow, they could actually put themselves in worse shape staying in compliance with the ratios in some of their debt covenants.

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Clem2754
 Post subject: Re: Harrah's Shedding Rio
PostPosted: Tue May 11, 2010 7:20 pm 
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I believe JJ was quoting the average amount Antonio or David Williams was going to dump at the Rhino during the WSOP....


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sevencard2003
 Post subject: Re: Harrah's Shedding Rio
PostPosted: Wed Jun 09, 2010 12:27 am 
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since going to the rio such a pain in the ass if u stay at the 4 queens, i will bet they move it to ceasers next year--it has tons of room and both has and is close to many other rooms.

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Clem2754
 Post subject: Re: Harrah's Shedding Rio
PostPosted: Wed Jun 09, 2010 8:11 pm 
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Tony, I'm sure they are concerned about playings getting to the Rio from the 4 Queens. Another classic TBC post. :roll:


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sevencard2003
 Post subject: Re: Harrah's Shedding Rio
PostPosted: Wed Jun 09, 2010 9:09 pm 
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Clem2754 wrote:
Tony, I'm sure they are concerned about playings getting to the Rio from the 4 Queens. Another classic TBC post. :roll:


well they should be--probably about 35-50% of the people staying downtown to save money are probably playing in the wsop

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Clem2754
 Post subject: Re: Harrah's Shedding Rio
PostPosted: Wed Jun 09, 2010 9:17 pm 
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Tony, I suggest you check out all the hotels on the strip, and all the rooms they have to offer, wait you can't go into most of those hotels....


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thevegasgrinder
 Post subject: Re: Harrah's Shedding Rio
PostPosted: Thu Aug 05, 2010 4:13 pm 
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Posts: 58
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Yesterday LVM revealed on his twitter "I booked a bet months ago that the WSOP would move to @PHVegas over Caesars. I know that they have blueprint floorplans drawn up. We'll see!"

When I asked LVM before placing a bet with him if he had any 'inside information' that would sway the argument, he emphatically replied that he did not.

LVM, care to revise your statement now?


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zzjitterzz
 Post subject: Re: Harrah's Shedding Rio
PostPosted: Sat Sep 11, 2010 12:17 am 
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To revive a dead thread/add fuel to the fire, Vegas Today and Tomorrow has an updated convention space listing HERE, and surprisingly (well, to me anyway), Caesars has half a million square feet of total convention space, by far the largest in the HET empire. Second is Bally's :!: at 175K, Rio at 160K, Paris at 140K, then P-Ho at 88K. The largest single room is an ~85,000 sq. ft. room at Paris (again, :!: ), the The Pavilion at Rio (almost 55K), a 50K+ one at CP, a 40K one at Bally's, and then a ~37K room at P-Ho. What does this say to me? No way in hell it moves to Planet Hollywood if the Rio is sold (and I'm not completely sure of that, either). My money is on Caesars Palace.

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