"Foxwoods Casino Is Fighting For Its Life"

[guinness]

NY Times wrote up a state of affairs commentary about Foxwoods.

Foxwoods NYTimes Article

Cliffs:

• Foxwoods borrowed too much and is now $2.3 Billion in debt
• Current leadership feels that this can be settled with the banks for $1.7B.
• On opening night in 1992, Foxwoods originally planned to close at 2am but with too many gamblers still inside they remained open and have never closed. This sounds like Bergs house.
• Tribe members received $100K per year royalty fee (children who turned 18 also received this annual bonus) but this was recently discontinued.
• Mohegan Sun is attracting younger/hipper players due to its upbeat feel.
• Foxwoods new MGM Grand intended to capture some of Mohegans hipsters.
• Foxwoods got a license to open a casino in Philly but it was revoked in 2010 when financial woes prompted removal of that dream by the board.
• Foxwoods pays Connecticut gazillions per year from slots.
• Blah Blah what other states do (PA gets the most money of any state from its casino operations).
• Racino -> slots and horse/dog racing.
• The Foxwoods cafeteria serves 5000 meals to employees every day.
• More about gaming devices, games, whales, history, predictions.
• Opinion: Sounds like they are going to be fine.

[cgraham86]

What about Foxwoods? Sorry, your avatar is teh evar.

[JM]

This comes as no surprise to anyone who has been playing there for the past 4 or 5 years. You've seen the expansion that outgrew demand and the decline as a result (fewer/cheaper comps, dirty conditions, run-down hotels). Mohegan has been having its own downturn as well because of the recession, full garage is now about 1/2 or 1/3 full. Foxwoods did seem to start turning things around lately though, its cleaner and they are updating things in the hotels.

[pltrgyst]

Originally Posted by guinness

[*]Blah Blah what other states do (PA gets the most money of any state from its casino operations).

Not just the most money, but *by far* the highest cut of the take: 50% of the gross from slots.

[guinness]

Originally Posted by cgraham86

What about Foxwoods? Sorry, your avatar is teh evar.

That's the PG rated one. "Janessa Gym".

Yeah, Foxwoods and stuff.

[toonexile]

Is it in trouble because Berg is hoarding all the chips for his new travel set?

[bergs]

Originally Posted by toonexile

Is it in trouble because Berg is hoarding all the chips for his new travel set?

Not much hoarding last night, AA AI preflop (played limp-raise to perfection, actually) vs JQ and board runs out 68T79. Then 97s call small raise from BB position, flop T8J, get it all in versus maniac uber LAG player with Q9.

I'm at roughly 2 racks of white and 1.5 racks of red with a stack of green and 2 racks of quarters. Def not $2.3 billion of chipes yet. When I get there, tell Phil to backup the truck.

[guinness]

I will be ready for a Foxwoods visit in about 4 weeks!!

[wartdog]

guiness- please post more, i dont read them, i just like your avatar