Roll of dice ending for Harrah's Tunica

I don't get why they would close the biggest of the properties, especially since it is closest to Memphis.

Why not rebrand that one as the Horseshoe and sell the old Horseshoe or Roadhouse?

They've been listening to Kenny Rogers....They knew when to fold em and when to run.

Seriously, though, the company is hemorrhaging cash. Business had been cut in half, and I'd say they were losing a lot of money in that location.

For someone who only gets home to Memphis once or twice a year, and rarely visits Tunica any longer, how are the casino's doing in general?

The last time I was down there, maybe 5-6 years ago, it 'seemed' like it was really run down looking...

That casino is laid out terrible. It's hard to have much of an atmosphere inside of it. Plus Southland has taken so many of the customers who want to just go for a short drive.

Horseshoe and roadhouse are profitable. They are catering to the gambler that doesn't want to play just electronic games.

Penn National Gaming group has been rumored to be interested in the property. But who knows if they will buy it. The only way to make it profitable is to turn it into a slot house like Ballys or just rebuild the entire thing.

Interstate 269 opening early could drive some people back to Tunica as opposed to Southland.

(03-27-2014 12:38 PM)oruvoice Wrote:  For someone who only gets home to Memphis once or twice a year, and rarely visits Tunica any longer, how are the casino's doing in general?

The last time I was down there, maybe 5-6 years ago, it 'seemed' like it was really run down looking...

Most are finding niches to stay profitable. Horseshoe is catering heavy to table game players these days. They pumped a lot of money into the poker room. They have actually taken out slots, which is almost unheard of these days.

Every time I've been by Southland in recent months, it's been packed. I'd say they're doing a good job of picking a lot of small-gamblers from Memphis.

Harrah's has 66 tables. The Horseshoe has 90 and the Gold Strike has 68

The Horseshoe even has 1,291 slots compared to Harrah's 1,281

How recent are those numbers? I know Horseshoe took out a lot of machines when they expanded the poker room.

(03-27-2014 01:09 PM)TigerTim Wrote:  How recent are those numbers? I know Horseshoe took out a lot of machines when they expanded the poker room.

January 2014 was the most-current info I could find.

http://www.msgamingcommission.com/index....y_reports/

(03-27-2014 01:01 PM)supertiger Wrote:  Every time I've been by Southland in recent months, it's been packed. I'd say they're doing a good job of picking a lot of small-gamblers from Memphis.

Harrah's has 66 tables. The Horseshoe has 90 and the Gold Strike has 68

The Horseshoe even has 1,291 slots compared to Harrah's 1,281

Horseshoe has always been the most successful casino, despite being smaller than Grand/Harrahs and Sam's Town.

I guess Jack Binion did an excellent job setting the place up.

They should pass a state law and open a sportsbook down there.

(03-28-2014 08:16 AM)BuffaloTN Wrote:  They should pass a state law and open a sportsbook down there.

I don't think the state can do that.

(03-28-2014 08:54 AM)Redbanksdog Wrote:  

(03-28-2014 08:16 AM)BuffaloTN Wrote:  They should pass a state law and open a sportsbook down there.

I don't think the state can do that.

I think Delaware and Nevada were grandfathered from a federal law that banned sports betting but New Jersey was trying to challenge it with a state lottery sports betting game.

Just googled it. They lost lawsuits and are currently debating whether to appeal to the US Supreme Court.

(03-28-2014 08:54 AM)Redbanksdog Wrote:  

(03-28-2014 08:16 AM)BuffaloTN Wrote:  They should pass a state law and open a sportsbook down there.

I don't think the state can do that.

Got ya. Yeah I wasn't aware how that worked.

Apparently this is the law of the land. Sounds real constitutional and all.

From wikipedia:
"The Professional and Amateur Sports Protection Act of 1992 (Pub.L. 102–559), also known as the "Bradley Act," attempts to define the legal status of sports betting throughout the United States. This act effectively outlawed sports betting nationwide, excluding a few states.

The sports lotteries conducted in Oregon, Delaware, and Montana were exempt, as well as the licensed sports pools in Nevada. In addition, Congress provided a one-year window of opportunity from the effective date of PASPA (January 1, 1993) for states which operated licensed casino gaming for the previous ten-year period to pass laws permitting sports wagering. The latter exception was clearly crafted with New Jersey in mind. However, New Jersey failed to take advantage of this opportunity and carve out an exception for itself. Also excluded from the reach of PASPA are jai alai and parimutuel horse and dog racing."

There are a lot of new casinos out there. Especially in Southern Mississippi, Louisiana, Missouri, and Illinois...I'd say the Tunica market is going to rely more on regional traffic. That sort of traffic doesn't support Steve Wynn-esque casinos.

Some folks from the Memphis Business Journal said they see a new buyer for the Harrah's property as unlikely. The Isle of Capri has even empty for 12 years but it'd be odd to see the huge Harrah's property to remain shuttered.

The rise of Oaklawn and Southland video gaming along with improvement of gaming centers elsewhere has hurt Tunicsa as a destination gaming venue. I have nearly a half dozen of newer casinos near the Ark/Oklahoma border along with the Hard Rock in Tulsa and the conversion of the River Spirit to a Margaritaville themed casino on the other side of town. When Tunics was booming these places were not near what they are today. The things that were supposed to vault Tunics into more of a resort area washed away with the recession in 08.

(03-31-2014 02:09 PM)WaywardMemphian Wrote:  The rise of Oaklawn and Southland video gaming along with improvement of gaming centers elsewhere has hurt Tunicsa as a destination gaming venue. I have nearly a half dozen of newer casinos near the Ark/Oklahoma border along with the Hard Rock in Tulsa and the conversion of the River Spirit to a Margaritaville themed casino on the other side of town. When Tunics was booming these places were not near what they are today. The things that were supposed to vault Tunics into more of a resort area washed away with the recession in 08.

When Tunica was booming, the 2 casinos in Tulsa (River Spirit and Hard Rock) were not much more than a few double wide trailers welded together.

Good point, Wayward...I didn't even think to recognize that the dramatic increase in number and quality of casinos in Oklahoma could have an affect on Tunica. But, now when I think about it, if I am west of Little Rock...I'm likely heading to OK.