Mount Airy casino is little boost

Mount Airy casino is little boost

There are 35 comments on the The Morning Call story from Oct 20, 2008, titled Mount Airy casino is little boost. In it, The Morning Call reports that:

The sign on the corner of Route 611 and Woodland Road in Paradise Township says that a bank will rise at the site, which leads to the entrance to Mount Airy Casino Resort.

Join the discussion below, or Read more at The Morning Call.

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elektra

New Hope, PA

#21 Oct 20, 2008
Mt. Airy in the Poconos is a great example of what happens with lethargic citizens who lose sensibilities when influenced by dollars floating through their interests. They didn't get off their rear-ends and become involved with their politicians and community.

You have an opportunity with the Sands. Make the most of it. Learn from the mistakes of your neighbors.
Sands sinking

AOL

#22 Oct 20, 2008
RonMania wrote:
<quoted text>Sorry Sands, but YEP!! A few free drinks, women in skimpy outfits, chance to increase your bankroll, listen to a bunch of BS stories, pick up some loose chippy's floating around, NOW THAT'S a RonMania DAY!!!
You got me there, except for some loose chippy's.

It costs more money than you or I have to get a loose chippy to sit with you at a blackjack table.?

If you want a little exra it'll cost you a whole lot more. A good looking chippy knows the #1 rule of women but don't discuss it openly.

i.e They have what every man wants and know how to use it to get it. The prettier they are the price goes up accordingly . The escort business was started at Bethlrhem Steel and has been expanded on and is still around. You think the price of tomatoes is up. Wait till you see the price of the hoties that will come with the Sands.
Sands sinking

AOL

#23 Oct 20, 2008
Nice picture, FNCB of Dunmore.

DeNaples bank. They're broke unless he's in on the 700billion bailout. Father sica and the rest of the Bufalio Mob all borrowed money they can't pay back. Follow where all this money goes to the banks that are failing . If FNCBofD ggets his bank on the empty lot he's in on the bailout.

The Mob usually robs banks like this , in this case they just foreclosed on the loans and left Capo Lou hanging.
comment

Korea

#24 Oct 20, 2008
Voice of the LV wrote:
It will be interested to see what happens in Bethlehem when Sands Corp opens. Time will tell.
This what will happen. Mohengan Sun and Mount Airy Lodge has built in advantage of coming on-line first. They have not been able to exploit overall "casino resort" atmopshere, nor leverage surrounding economy to support the guest experience. They ulimately offer an inferior product compared to what is coming on-line next.
Sands Bethworks will offer a superior product to what is on-line in the Poconos. You will have same geographic draw of 80 miles. You have a superior hotel room and gambling floor. You have investment in support entertainment venues in the surrounding area. You have existing draw weekends of guest to Bethlehem with Lehigh University football, wrestling, basketball, Philadelphia Eagles training camp, Arena football, Professional soccer, AAA Phillies/IronPigs baseball, as well as festivals of Musikfest, Celtic Classic and Chriskindlemart. You have additional support hotels for overflow with Hotel Bethlehem, Comfort Inn, Holiday Inn-Bethlehem, plus all the stop-and-go hotels near Lehigh Valley International Airport. Additionally, you have multiple golf courses for public and private use in the region.

When Sands Bethworks goes on-line, it will canabalize the more upscale customers (I use this term loosely)from Mohegan Sun and Mt. Airy Lodge. As more affluent gamblers, either fly to Europe, Caribeean, Las Vegas or drive to Atlantic City for full gaming, those who remain for slots tend to be older middle-class willing to wager up to $200 per outing, grab a discounted dinner, a show, stay overnight and then depart. Their total weekend experience will be under $1000 per couple. This is who Sand Bethworks will market to.

Mt. Airy and Mohegan Sun draw from a smaller geographic distance, have inferior product, hence their clientle will be day trippers whose overall daily experience may be $400 per couple.
Hence, Sands Bethworks will potentially put these two other Northeast casinos into bankruptcy in the near term. They will cannabalize some of the gambling revenue, but will seriously cannabilize the hotel room nights and ancillary entertainment charges.

Bethworks Sands will then have about a 2-3 year advance to stabilize itself, invest into ancillary entertainment and enhance its product. It will be sometime until Philadelphia casinos come on-line and the racinos are a business product unto themselves. Slots is ancillary to the horsetrack betting.

DeNaples will be cursing the day he got involved in gambling and tieing himself to Rendell. Hopefully, it will be from a prison cell.
comment

Korea

#25 Oct 20, 2008
Casino licenses
14 licenses are authorized for slot machine operations only.
Seven licenses may be issued to existing horse race tracks, or racinos. Six have been issued and are operational.
Five licenses may be issued to stand-alone casinos. 2 must be in Philadelphia. 1 in Pittsburgh.
Two licenses may be issued to existing hotel resorts with up to 500 slot machines.
All except existing hotel resorts can have up to 5,000 machines.
Of those authorized, 1 race track (yet to be built) and 2 hotel resorts (yet to be awarded) are not operational.
The 3 urban center casinos in Philadelphia and Pittsburgh are not operational.
Racinos
Eastern PA
Harrah's Chester Casino and Racetrack in Chester
Mohegan Sun at Pocono Downs in Wilkes-Barre
Philadelphia Park Casino in Bensalem
Central PA
Hollywood Casino at Penn National in Grantville
Western PA
Presque Isle Downs and Casino in Erie
Meadows Racetrack & Casino in Washington
Stand-alone casinos
Eastern PA
Mount Airy Casino Resort, Paradise Township, Monroe County (opened October 22, 2007)
Sands BethWorks, Bethlehem (opening 2nd or 3rd quarter 2009)
SugarHouse Casino, Philadelphia (yet to begin construction)
Foxwoods Casino Philadelphia (yet to begin construction)
Western PA
Majestic Star Casino Pittsburgh (opening 2nd or 3rd quarter 2009)
comment

Korea

#26 Oct 20, 2008
elektra wrote:
Differences in expected residual benefit from a convenience casino vs a destination casino were emphasized repeatedly during the licensing process by both Spectrum Gaming and Mt. Airy competitors. The convenience model is parasitic in its design, conversely destination models result in residual business. Mt. Airy's revenue challenges will increase when the Beth Sands opens, as then geographically they are between two competitors with superior facilities which are more accessible by the same feeder markets. Meanwhile, the Poconos tourism market becomes progressively more vulnerable to migration to competing destinations, as the bedroom community real estate market increases. Mt. Airy's marketing costs to compete will need to increase to compete... it deals a business plan not designed to be the "solution", if anything it could exacerbate the Poconos economic challenges. For over four decades the Poconos could have benefited from a convention center. Instead of being objective and rallying behind a plan that could withstand the competitive gaming plans in neighboring markets, the political and business leaders dealt the area another chilling blow in its ability to regain balance to the economic base. There are times when outside influence is a good thing in bringing more diverse and competitive business into the area... the gaming opportunity was one of those times, and the state/Poconos politicians blew it up. We are left only to wonder "why"? Moreover, will they do anything to right their mess?
Elektra,
See my comments also. You succintly also point out the short comings of the decision to award the licensce to DeNaples's Mt. Airy Lodge and the shortcoming of an integrated tourism solution for the Pocono's since the 1950s.

Yes, I too am wondering when PA will do it right. The impass to this is the parochialism and fifedoms that exist throughout the state under a muncipal structure of 2700+ municipalities which dates back to pre-Civil War era.

We are structurally not arranged in governance to be able to do big projects well, finance big projects well, and to develop 21st century economic clusters which require coordinated long-term planning.

I stopped waiting for a better PA and decided to seek greater opportunity externally though I still keep my permanent residence in PA. Why? I do not know sometimes because there are better taxes in such places of Nevada or Wyoming that would shield me from 3.1% income tax as potentially state level estate tax.

I try to guide some dialouge to advance certain topics both here and amongst political insiders, but overcoming inertia is very difficult when you have half-a-s-s ill equipped politicians. You truly need a smaller group representing a more collective viewpoint of the citizenry in Pennsylvania.
comment

Korea

#27 Oct 20, 2008
As for gambling, I would prefer that Bethworks Sands was not in Bethlehem, but it now is. Hence, it has to be the most superior product in the Commonwealth.

I live half the year in Korea and they have Seoul Walker Hill and a few other casinos for non-Koreans. They are scaled down full service casinos who cater primarily to wealthy Chinese and Japanese for weekend trips to Seoul. They have good meeting rooms, conference centers, entertainment, restaurants, and also their casino. It is a nice diversified business model for the real estate.

Bethworks could be simililarly positioned.

As for gambling, I do it seldom, maybe once every 2 years, but when I do, I package it as an overall travel package. I prefer Vegas, Macau, London or Monte Carlo. Gambling as a destination resort experience is the least of the types of evils in gambling.

Hopefully, Bethlehem will give people a lot more to do than just gamble over 48 hours. Surprisingly, I think throughout the year Bethlehem has a diversifed enough programming schedule of events that will keep people not in casinos 100% of the time.

I overall think it is going to put other standalone casino's on the shelf for a couple of years and put Mt. Airy potentially into bankruptcy. BethSands will succeed, as well as it should now.

It is not the savior of Bethlehem, but it is a small little evil to help keep the majority of people honest and forthright because there will be weekly reminders of the ills of gambling such as muggings, compulsive gamblers, prostitution and other ills that come along with gambling.
Voice of the LV

United States

#28 Oct 21, 2008
BloodRedSky wrote:
<quoted text>I disagree with one thing you had to say! The casino's in Atlantic City are always filled, especially on weekend! The same goes for Mount Airy! I think the Sands will do well because the people in the Lehigh Valley won't have to drive as far as they do now to gamble! The Sands will put a dent into AC and Mount Airy! The Sands will also put a hurting on the local bus companies who run people down to AC! Not to mention The Downs seems to always be packed as well at every time of day!I don't even gamble but I thing the Sands will be a good thing for Bethlehem as long as they invest in the entire area around the Sands!
Actually, you are quite incorrect. Atlantic City casinos are hurting so badly that they pushed the smoking ban back a year because they were afraid it would hurt their business even more. Start reading and listening to the news, Atlantic City is hurting terrible because of New York and PA casinos. Get your facts straight. I was down at the Borgata last Saturday night, usually it is packed that you cannot even get in to play at a table, the place was a ghost town ON A SATURDAY NIGHT, I guess they werent lying!
Voice of the LV

United States

#29 Oct 21, 2008
comment wrote:
<quoted text>
This what will happen. Mohengan Sun and Mount Airy Lodge has built in advantage of coming on-line first. They have not been able to exploit overall "casino resort" atmopshere, nor leverage surrounding economy to support the guest experience. They ulimately offer an inferior product compared to what is coming on-line next.
Sands Bethworks will offer a superior product to what is on-line in the Poconos. You will have same geographic draw of 80 miles. You have a superior hotel room and gambling floor. You have investment in support entertainment venues in the surrounding area. You have existing draw weekends of guest to Bethlehem with Lehigh University football, wrestling, basketball, Philadelphia Eagles training camp, Arena football, Professional soccer, AAA Phillies/IronPigs baseball, as well as festivals of Musikfest, Celtic Classic and Chriskindlemart. You have additional support hotels for overflow with Hotel Bethlehem, Comfort Inn, Holiday Inn-Bethlehem, plus all the stop-and-go hotels near Lehigh Valley International Airport. Additionally, you have multiple golf courses for public and private use in the region.
When Sands Bethworks goes on-line, it will canabalize the more upscale customers (I use this term loosely)from Mohegan Sun and Mt. Airy Lodge. As more affluent gamblers, either fly to Europe, Caribeean, Las Vegas or drive to Atlantic City for full gaming, those who remain for slots tend to be older middle-class willing to wager up to $200 per outing, grab a discounted dinner, a show, stay overnight and then depart. Their total weekend experience will be under $1000 per couple. This is who Sand Bethworks will market to.
Mt. Airy and Mohegan Sun draw from a smaller geographic distance, have inferior product, hence their clientle will be day trippers whose overall daily experience may be $400 per couple.
Hence, Sands Bethworks will potentially put these two other Northeast casinos into bankruptcy in the near term. They will cannabalize some of the gambling revenue, but will seriously cannabilize the hotel room nights and ancillary entertainment charges.
Bethworks Sands will then have about a 2-3 year advance to stabilize itself, invest into ancillary entertainment and enhance its product. It will be sometime until Philadelphia casinos come on-line and the racinos are a business product unto themselves. Slots is ancillary to the horsetrack betting.
DeNaples will be cursing the day he got involved in gambling and tieing himself to Rendell. Hopefully, it will be from a prison cell.
How many shares did you purchase?
comment

Korea

#30 Oct 21, 2008
None, but if I were a buyer of casino stocks, it would be now when pricing for real estate valuations is low as well as operating going concern assets of casino operation are low.

I was not a proponent for this use of this site and actively spoke out against it, but it is a reality now. Hence, you need to make sure it is 1) Nice and 2) Provides a competitive long-term economic contribution. We do not need a $1 billion asset going dark on the South Side. We already have Martin Tower gone essentially dark and no-reuse in the immediate sight.
jones

AOL

#31 Oct 21, 2008
In this economy ? It will lose money and close . It will be years before we get out of this mess and start to improve. Don't compare Beth Steel with Beth Sands. Beth Steel made a product but was put out of business for various reasons. Most of which were Environmental, believe it or not? Chemical disclosure act in the 80s?
Sands doesn't make anything. They're in the business of conning money from dopes
jones

AOL

#32 Oct 21, 2008
Housing market down and going lower . If we knew how long or where the bottom of this recession is going we'd be rich. The people that lost 100,000 aren't worried about their investments or Mutual funds going sour, they're beyond that . Now it's about keeping their job in every sector but teaching. When you see the market drop from -200 to -800 in the last ten minutes of trading you know computer buying will kick in the next morning and the same thing happens again the next day when they drove the price of stock up . In the last ten minutes of trading -700 . The computers can't lose when you have some of every share in the dow or s@p. Casino stocks, very risky. Heaavy weights in the Dow, I don't have the money to guess anymore . I'm at the bottom.
comment

Korea

#33 Oct 21, 2008
Kerkorian is shifting his money back into Real Estate and Casinos. Buffett is buying many operating company stock especially in financial, gas, and consumer products.

Kerkorian got caught in a "value trap" with Ford and got out early, much like Buffett's play on HR Block and Pier 1.

When you are a deep, discount, value buyer, sometimes you pick up a dog, but with good analysis these are the times that make millionaires and billionaires.

I am in for the long haul. I will take my opportune picks to allocated back in the US.
I was not immune to downturn in US. My portion allocated to US lost 26% over the past 4 weeks and down 41% for year.

My only winners YTD in US: BUD, PH, KBH, OBDP, SWS, GLYT. Obviously many losers to be down 41% in US.

Over past 8 years, made lots of money in US.
AAPL, E, CHL, TTC, OXY, CVS, FMX, HAN, PCZ, BEN, BRK/A, BRK/B, RTP, IFN, KEGS, CVX, EMGIX, COP, PPL, ERTS, HSY, TXT, MSFT, AT, ALL, TYC, PG, USG, DOV, PH, POT, PLMD, DF, SIVB, LZ, CBH, SUN, GSH, ARA, MT, UVV, AYE, IIT, MDC,TSMA, CSL, UNS, EXP, FAF, BUD, GLYT, HOC, DIOD, ACO, PUBO, AFP, PPD, ALGI, TSRI, SWM, ARCAF, OCA, CECX, MXBIF, FBC, DSWL, DFS.

As my Professor in graduate investment course, what you learn in this class will pay not only for this class, but all of your college education costs, because if you apply these theories you will be better positioned to NOT LOSE money over the long-term. Hence the class really focused as much on risk minimizaiton, as it did on the techniques of investing.

I to this day still always maintain a diversified portfolio globally and I attempt not to find the complete bottom but step into buy during the cycle of the trough when everyone is abandoning an asset class.

These are the techniques of the greatest investors out there. I am far from one of them, but when Buffett and Kekorian are buying and repositioning, so am I.

It is a good time to be buying US real estate and to be buying equity, if you do your due diligence and have the time and money to wait it out for 2-3 year recovery. If you need to rely on investments for income, it is important to find safer yielding investments, whether preferred stocks of utility companies or large establish companies, US debt or AAA rate corporate debt.

Good luck. As to tangible goods vs. service goods, the economy is shifting and if people want to spend money on entertainment and short-term real estate usage, a casino can make money just like any other business, if it is going to be a going concern. It is quickly becoming a service industry world because on a relative basis, most people have what they need for subsistence now. There is not this global demand for durable goods and other products that you want to be "proud of making."

People spend thier money on experiences such as travel, creating wealth, minimizing risk through insurance, suing each other, making sure they have clean teeth, straight backs, doctors that take care of them. All of these services of a developed economy take people to work and produce "economic returns" just like any goods business.

What is most important is that you are the BEST no matter what good tangible or intangible. It is also critical that you can adapt to stay competitive.

This is one major shortcoming of the people of the Lehigh Valley and the professional managers of the Lehigh Valley, very inflexible and difficulty into adapapting.
BloodRedSky

Philadelphia, PA

#34 Oct 22, 2008
Sands sinking wrote:
<quoted text>
who the hell are you talking to . most of the people on here were never at a casino. the ones that were have some pension money to waste and when that dries up there is no more in the piggy bank.
Go down to line #20 and Ron shot your stupid a** down! You need not gamble to understand that the casinos are always busy! I guess your stupid a** thinks that all of the people from the Lehigh Valley will still be going to AC and Mount Airy when the Sands opens! You are retarded!
Voice of the LV

United States

#35 Oct 23, 2008
BloodRedSky wrote:
<quoted text>Go down to line #20 and Ron shot your stupid a** down! You need not gamble to understand that the casinos are always busy! I guess your stupid a** thinks that all of the people from the Lehigh Valley will still be going to AC and Mount Airy when the Sands opens! You are retarded!
Guess todays article put your comments to shame! LOL, Sands is hurting already and they havent even opened! Read todays lovely article about them, they will probably open and close in 6 months. Then we will have Trump buy it up to save the day and turn Bethlehem into a mini Atlantic City!

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