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Casinos ever loose money?

Brighton
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789 posts
4 reviews
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Casinos ever loose money?
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I Know they are all struggling at the moment but what I mean is specifically the casino.

For instance, the house has the edge on all the games, do you think in a day they ever have more winners then losers so actually loose money in their own casino?

Pretty pointless but just thought this

1. Re: Casinos ever loose money?

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Denver, Colorado
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1,033 posts
2. Re: Casinos ever loose money?
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It can even affect their quarterly earning. Earlier in the year Borgata, Caesar's and Tropicana (in Atlantic City, NJ) all took heavy losses to a single blackjack player.

Found a link about it here: http://www.internet-poker.co.uk/Poker-News/General-Poker-News/Identity-of-15-Million-Atlantic-City-Blackjack-Winner-Revealed~4185.html

Michigan
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9,346 posts
7 reviews
2 helpful votes
3. Re: Casinos ever loose money?
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I heard a story of a whale clipping MGM for about 25 million dollars in less than one hour. Also heard the whale tipped over one million to CW and dealer.

Also was told this was backbreaking to MGM.

Edited: 12 years ago
4. Re: Casinos ever loose money?

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Michigan
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9,346 posts
7 reviews
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No link was told that story by a dealer while playing blackjack. If it's True or not?

Edited: 12 years ago
Denver, Colorado
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1,033 posts
6. Re: Casinos ever loose money?
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That sounds like a Kerry Packer story - Aussie billionaire died 10 years ago (?) or so. His tips were "only" $100,000 sometimes - I doubt he tipped every single person that much, lol!

California
Destination Expert
for Las Vegas
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52,527 posts
3 reviews
5 helpful votes
7. Re: Casinos ever loose money?
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January 26, 1986. The worst beating the sportsbooks ever took. For 10 days they kept raising the line on the game, but no matter what they did they couldn't convince enough people to Bet on New England. Books everywhere around the country sent money to be laid off in the casinos that they couldn't dump anywhere else.

It was the most lopsided betting on any football game in NFL history. And nobody will ever be sure exactly how much the books, both legal and illegal, lost that day.

BTW: The Bears won 46-10. So it didn't matter if you bet the game at 15, 16, 18, or 19 points. It still wasn't enough.

Park Forest...
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11,488 posts
74 reviews
95 helpful votes
8. Re: Casinos ever loose money?
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For most months, the casinos do win but if the whales playing baccarat do well, it can kill all the profit made in the rest of the casinos.

Palm Springs Area
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588 posts
8 reviews
33 helpful votes
9. Re: Casinos ever loose money?
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This is why comps exist. Yes, they have and will lose money. Then make it back again. It's the see-saw effect. Research the history about the first-ever casinos in LV. You'll find this to be the way it was even from the very beginning.

Edited: 12 years ago
Maryland
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for Las Vegas, Washington DC, County Donegal, Western Ireland
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80,503 posts
49 reviews
112 helpful votes
10. Re: Casinos ever loose money?
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They have pretty tight internal controls; I don't think they have any loose money laying around.

I found a loose quarter rolling around the floor once...

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