| Harrah's Joliet Casino & Hotel experienced a 5.64 percent decrease for the month, and a substantial 16.43 percent drop from a year ago, an indication that the new tax increase has only served to fuel what was already a downward spiral for the gaming industry in this state. Unlimited gaming positions at casinos in Indiana (Illinois license holders are restricted to 1,200 positions each), no admission charge, and the fact that casinos there recently went to 24-hour 'round the clock operations only magnifies the problem. "Our Bettendorf numbers, and you can compare them to Davenport, reach much further out because of the great hotel facility on property. There's also a lot of meeting space and plenty of parking. The property attracts a lot of people from Chicagoland. "Our Davenport property has the older hotel (the historic Blackhawk) that is not attached to the casino. The main core of the Rhythm City's market is much closer. I just think we need to take further advantage of that by building more rooms, adding square footage for meeting space, and continue growing." Hinkley is no "Johnny-come-lately" to the gaming industry. He started with Goldstein in Iowa in 1990, then was the point man for the company's expansion into Mississippi by serving as vice president and general manager of the Isle of Capri Casino resort in Biloxi since its inception in 1992. Even though Isle Corp. does not have an Illinois location at the present time, Hinkley does not rule out the possibility that it could happen in the future, depending, of course, on how the political climate in our state develops. "We've taken a look at vacant tenth casino license in Illinois and will continue to keep a close watch on the situation," Hinkley revealed. "We're not sure what's going to happen with the court proceedings and all. Until some of that problem gets cleaned up, it's really hard for you to make a decision." When you're playing quarters, halves, dollars, and five dollars, the percent hold is comparable to the house edge found at some table games, including roulette, Caribbean Stud Poker, and some bets at craps. The only difference is that you play slots at a must faster rate per hour, which increases the amount of time you are putting your money at risk and making it easier for the edge that's working against you to wear you down. There are some proposition bets at the craps table, such as wagers on the hard ways, that the experts will caution you never to make. They'll tell you they're "sucker bets" that range around 9 to 10 percent (and even higher in some cases) against the player, mathematically speaking. Even though house advantage at the tables and percent hold at the slots are not exactly comparable, they are close enough that one could infer from the above advice that betting on nickel multi-line video slots is a sucker game and should be avoided during your gambling ventures at all costs. My advice is not to avoid them if you have fun playing them, because there is a certain price you must place on entertainment value. But don't be tempted to play inordinate amounts of money in them, or get trapped in what can be an obsessive pursuit of "bonus rounds", the Nirvana for nickel players. Successful bonus rounds and the frequency with which they come can turn a twenty-dollar buy-in into a hundred dollars, two hundred, or even more in no time. It can be exhilarating, followed by the onset of the "greed factor". Then your winnings are destined to dwindle off to Never Land. It's knowing when to stop chasing the bonuses, knowing when to cash out for a session profit, and knowing when to stop spending all that money on such a high volume currency vacuum cleaner that separates the good gamblers from the reckless ones. |
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