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View Full Version : Ontario Casino's losing $$$$$$$$$



spankingman
01-11-2009, 11:32 AM
Recently read story about Ontario Casino's losing money in 2008.Will 2009 be better or worse. Some people tend to gamble more to get that"big payout or quick fix" when things are bad. Waddaya think?

Fred Zed
01-11-2009, 12:04 PM
Recently read story about Ontario Casino's losing money in 2008.Will 2009 be better or worse. Some people tend to gamble more to get that"big payout or quick fix" when things are bad. Waddaya think?
http://www.thespec.com/News/Local/article/493402
I think the reason for the losses is OLG are paying themselves too much.
This is not good news for the gambling public. Will OLG increase the house edge
to recoup losses ?

Keebler Elf
01-11-2009, 12:06 PM
It will get worse in 2009. Just look at Vegas where the numbers are down significantly. And Ontario is no Vegas...

anon1
01-11-2009, 12:17 PM
The OLG may be losing money in their casino operations, but they have other sources of income.
It's all in the accounting.

shakenbake
01-11-2009, 12:46 PM
Recently read story about Ontario Casino's losing money in 2008.Will 2009 be better or worse. Some people tend to gamble more to get that"big payout or quick fix" when things are bad. Waddaya think?

There are many, many, many reasons that the casinos are losing money. The uncertainty in the economy is one of them.

Hurricane Hank
01-11-2009, 11:11 PM
That article fails to mention how much the racetrack slots are making. The OLG is not losing money. Rather, some of their properties are not performing as well as they have in the past.
These guys scam so much off the poor suckers who bet proline and buy lottery tickets. Any mention of the OLG as a whole losing money is absurd.

naughtysabrina
01-14-2009, 01:42 PM
Casinos can never loose money....all they do is pay out no one...I KNOW....

JEFF247
01-21-2009, 01:54 PM
It will get worse in 2009. Just look at Vegas where the numbers are down significantly. And Ontario is no Vegas...

When I was in Vegas this month they gave the profit figures for the month of November, on the news, and the casino's on the strip made $487 million. Down about 15% from last November. Obviously a big source of tax revenue. That doesn't count the Freemont area or some other county they mentioned, just the strip.

JEFF247
02-01-2009, 09:08 AM
Mostly made on people who think they can "beat the system", no doubt.
;)

Can't see how they lose money. I am sitting next to a guy playing BJ that split 7's against the dealers 7. That is the correct play. He gets spanked. Next hand, he gets another pair of sevens against a dealers 6!! Dream come true!! But wait, he doesn't split and just waives off another split and stays. The dealer and I looked at each other in disbelief. He gets spanked again!!! Guys klike him are a dime a dozen, yet the casinos are losing money? WOW!!! Are the CEO's flying around in private jets after receiving their bonuses?

enduser1
02-01-2009, 11:23 AM
Can't see how they lose money. I am sitting next to a guy playing BJ that split 7's against the dealers 7. That is the correct play. He gets spanked. Next hand, he gets another pair of sevens against a dealers 6!! Dream come true!! But wait, he doesn't split and just waives off another split and stays. The dealer and I looked at each other in disbelief. He gets spanked again!!! Guys klike him are a dime a dozen, yet the casinos are losing money? WOW!!! Are the CEO's flying around in private jets after receiving their bonuses?

I sure Fallsview is profitable and Casino Niagra is losing money. If they do open a real casino at Woodbine I am certain Brantford and Casino Niagra will close and Rama will be hit hard.

EU

Tiffany_69
02-01-2009, 10:01 PM
It will get worse in 2009. Just look at Vegas where the numbers are down significantly. And Ontario is no Vegas...


The economy probably effecting this for sure. Maybe costs have to be looked at.

I only play Texas hold em so I would like to see more tourneys not just sit and go like Falls view does.

ispank
02-03-2009, 12:50 AM
I just returned from SuperBowl Sunday in vegas. Interesting changes. A lot of blue collar joe six packs sitting and watching the game. and betting at the tables. But the oriental contingent was totally absent. 10 years ago when you went you thought that the americans had all stayed home. I believe the same thing has happened now to the asians here as well. And if they are staying home the big gamblers are staying away.

I received 4 nights free, and just paid for airfare. Hotels are not going to survive long with 4 of 5 nights free!

Tiffany_69
02-03-2009, 08:01 AM
I just returned from SuperBowl Sunday in vegas. Interesting changes. A lot of blue collar joe six packs sitting and watching the game. and betting at the tables. But the oriental contingent was totally absent. 10 years ago when you went you thought that the americans had all stayed home. I believe the same thing has happened now to the asians here as well. And if they are staying home the big gamblers are staying away.

I received 4 nights free, and just paid for airfare. Hotels are not going to survive long with 4 of 5 nights free!

Think it may be a good time to take in Vegas. Pay one night. Guess they hope you gamble your face off.

BMWLover
02-07-2009, 11:20 AM
noway. They always clean off roulette table.

JEFF247
02-08-2009, 10:53 AM
It will get worse in 2009. Just look at Vegas where the numbers are down significantly. And Ontario is no Vegas...

The money gambled in Vegas makes Fallsview and Niagara look like chump change. They may be giving out rooms, but it's for a very good reason.

mac
02-08-2009, 11:31 AM
Recently read story about Ontario Casino's losing money in 2008.Will 2009 be better or worse. Some people tend to gamble more to get that"big payout or quick fix" when things are bad. Waddaya think?
wonderful.....our governemnt owned casinos lose money as does our govenemnt owned liquor stores??? What kind of place are we living in that the government feels compelled to operate that which makes money everywhere in the US but lose money here? What social good is being served by these loses?

Hurricane Hank
02-09-2009, 01:20 AM
wonderful.....our governemnt owned casinos lose money as does our govenemnt owned liquor stores??? What kind of place are we living in that the government feels compelled to operate that which makes money everywhere in the US but lose money here? What social good is being served by these loses?
Which part of "They are not losing money" is unclear. They simply aren't making AS MUCH as they forecast.

Hurricane Hank
02-09-2009, 11:24 AM
EVERYTHING they do is about maximizing profits. If there are no $5 tables, it's simply that there are more people willing to play for larger amounts.
As for slot machines, the nickel slots tend to generate more profit per day than $5 slots. Simply more money put through 5 cent machines on a daily basis.

Hurricane Hank
02-10-2009, 12:31 AM
What casino was that?
If you go to any casino expecting to win remember this: "A fool and his money are soon parted".