#Cash Counting machines in Erode | Explore Tumblr posts and blogs

btsmutimagines · 4 years ago

Text

high stakes. (M)

Finally finished phew

Yes, I’m a hoe for blue haired Taehyung leave me alone

Word Count: 8.1k (oof)

Warnings: Light spanking? Oral (giving/recieving), dirty talk, Taehyung

The 22nd letter of the alphabet to some, to others he was a powerful man. A man who pulled the strings of his many associates that obeyed every command. He was a mysterious figure, a man whose face hasn’t been seen by many but very few described him.

Some say he’s a foreigner that settled in Seoul, on the run from the international authorities. Some say he was a tall muscular man who used to be a hitman before chasing his ventures. Some say V wasn’t even a man at all, but a woman.

You didn’t know the truth behind V either, opting out of the rumour mill that clouded the name. It wouldn’t help you anyhow as you were a mere gambler, spending parts of your paycheck on roulette and the occasional slot machine. You liked playing against dealers, calculating every move that you could make and the rush when you make a small payout from a simple game.

Gambling can be beautiful; the sweet taste of victory could overwhelm the senses and lead to people scrambling for any cash on them to keep playing. You could watch desperate men begging for a rematch, screaming that they had to be cheating because there was no way they could lose.

Of course, you knew they’re being outplayed by the dealer, but the addiction eroded their ability to see their reality.

You haven’t gone off the deep end yet but tonight, you were feeling lucky.

You walked over to a table, a game just about to start and took the empty seat in the middle. You made eye contact with the dealer, Hongjoong, he was rarely on shift here. Made you wonder what the occasion was.

“Count me in.”

“Ah, Miss Y/N, you look lovely tonight.”

“Thank you. It’s been a while since I last saw you.” You rested your head on top of your hands as your elbows sat on the edge of the table.

“Been busy, you know how it is. How much?”

“I’m feeling 75 tonight.”

“Alright.” You placed your stack down, along with the others and watched the pit boss walk over and counts the cash. Your lovely stack of chips was placed in front of you as Hongjoong started dealing the cards.

You quietly watched, glancing at everyone’s cards and he finally dealt himself a card. 13, huh.

Hongjoong had a 10. The man to your right had an ace and a six, a hand you had to watch out for.

He started from the left, the first two chose to stand, you hit, Hongjoong dealt you a card, giving you a 7 and you stood. All you needed was the cards to fall as they may, you had the upper hand here.

You grinned to yourself as the other members of the table reluctantly pushed their stacks towards you.

“Another round, Miss?”

“I can’t see why not.” New faces joined, none that you bothered to concern yourself with. After all, all you had to do was win.

And win, you did.

With all the chips you had, you could build yourself a castle and no player around you were none the wiser.

“Count me in.” You heard, a man saying close to your ear as he took the empty seat next to you. He felt cold, the room dropping a few degrees as he spoke. Any weak-willed player would back out instantly, but you were more than that.

Besides, you could remember the last time you came close to a man as pretty as he was. Dare you to say, he might just be as pretty as you.

“Ah, I wouldn’t do that if I were you.” A man spoke, one that just lost a round to you. Sore loser.

“Anyone that plays a round with her loses.”

“I bet she’s cheating.” Tch. You shoot the man a glare, him retreating and you heard a chuckle.

“I don’t remember asking for advice, especially from a man who just lost.”

“Dealer, I’m betting double of what she’s got.”

“S-sir.”

“You hear me clearly, don’t you?”

“Yes, sir.” Has Hongjoong ever stutter like that?

“And who might you be, Miss?” He took your hand, bringing it to his lips and you stared in shock. His pinstriped suit fit him perfectly, his dress shirt unbuttoned enough to give you a peek at his defined collarbones.

Taking in the image of him staring at you almost knocked you off your seat. Is it possible for a man to be this handsome or was it the trick of the light?

No, you mustn’t be swayed by his appearance. It was a ploy to play with your focus, all that matters is dealing a blow to his confidence. And that starts with your next words.

“The woman who is about to win.”

“Is that so? I like that response.”

“You want to lose?”

“I never lose.”

“We’ll see about that.”

“Start the game, dealer.” The man said, not taking an eye off you and Hongjoong began to deal out cards.

You noted the cards of those around you, making sure to stand when you were sure that you had this in the bag. Despite the man sitting next to you, you still had no clue to what he could have.

You briefly glanced at him, meeting his ominous eyes for a moment and quickly looked away. It felt like he was reading you, opening up parts of you that you purposely kept hidden with the blink of his eye.

As if the more you walled off, the more he broke down with such ease.

It was unnerving, to say the least.

“Stand.”

“Stand.” He parroted, you scoffed. You placed your cards down, having yourself a lovely 19 and glanced around the table until your eyes landed on the cards of the man next to you.

A perfect 21.

“Would you look at that? A Blackjack.” You watched as the chips were pushed his way. His smirk at you mocked you as you received your wager.

“It was nice playing with you, Miss. Hope we meet again sometime.” He threw a wink at the end, taking his earnings with him and you only watched him walk away with the last word.

───✱*.｡:｡✱*.:｡✧*.｡✰*.:｡✧*.｡:｡*.｡✱ ───

You stabbed your salad, taking a large bite and chewing to yourself. So maybe the thought of that man stewed in your mind longer than you thought. His domineering presence lingered around you like a cloud, making you wish for clear skies.

Those handsome features were distorted by his supercilious attitude, it was a shame.

“Uh oh, who’s next on your hit list? Is it Lisa again?”

“No, but she’s still on thin ice.”

“I hope you’re joking about that.” Your friend, Soyou laughed as she took the seat in front of you.

“And if I wasn’t?”

“Then, HR.”

“Those clowns? They would make me write an apology letter and call it a day.”

“Police?”

“It was a joke, So, I didn’t think you would turn on me like that.”

“So, now it’s a joke?” You took another bite of your salad, smiling at her and she rolled her eyes at you.

“So, what’s really on your mind?”

“There was a man…”

“Was he handsome?”

“Does it matter?”

“I mean hot guys can pretty much get away with anything.”

“You mean, hot, rich guys do. Wait, that’s not the point!”

“Hey, his hotness is a factor in this.”

“How so?”

“Since he’s stirring you up this much, he’s at least pretty.”

“It wasn’t that kind of encounter.”

“Then?”

“He beat me at Blackjack.”

“He’s a dealer?”

“No, he was a player at the table.”

“I thought blackjack was between you and the dealer?”

“It is but I’m usually the one to win my wager in my rounds and this man defied that.”

“And? Did you lose?”

“No.”

“So, why does it matter?”

“Because.”

“Y/N, you need to use your words, honey.”

“Because he smirked at me as he did. Like he knew that he would win his bet regardless of the outcome of me winning my wager or not.”

“Again, why does that matter?”

“I have a reputation to upkeep there, the Weeper they call me.”

“Weeper?”

“Because any man who plays in any game with me is bound to weep.”

“Makes you sound like a villain, you know. Some of these men are gambling their livelihoods.”

“Then, they’ve already lost.” Soyou opened her mouth to say something but closed it, resorting to eating her lunch as you finished yours.

You knew how cold you sounded but those words were a truth that not many wanted to admit.

You’ve seen it with your own eyes.

And who were you to do anything about it? You were a simple office worker who always had time to kill after work. Maybe you could be like others who drink with co-workers or spend night binging Netflix’s extensive catalogue but you like the thrill.

Watching on bated breath as you gambled, whether it was slots, roulette, poker. As long as Lady Luck was on your side, who could stop you?

So once again, you slipped into one of your nicer gowns, your fanciest heels and strutted into the casino.

The atmosphere was to your liking, fewer people than normal but the stacks seemed higher.

“Ah, why isn’t the young Miss from the other night?”

“Oh, it’s you.” As if he came to ruin your mood, the man appears. He wore a slick white suit this time, the flaps as black as the colour of his hair and you crossed your arms.

“Not quite the reaction I would have liked, to be truthful.”

“What makes you believe I would be happy to see you?”

“Why, I can tell you can’t get me out of your mind at least. Whether it’s out of hate or love doesn’t matter.”

“You’re such a strange man.”

“Oh?”

“Why would you remember me?”

“Why wouldn’t I? After all, you’re the woman they call the Weeper. Is that not true?”

“Is that so?”

“Being coy, aren’t we? I thought it was because one look at your face would make a grown man cry.”

“Very funny.”

“But seeing how beautiful you are, it must be your skill.” He tilted your chin; you slapped his hand away and began walking past him.

“Don’t mock me.” You spat, him making no haste to catch up to you.

“I mean not to, Miss. I was merely intrigued by your reputation. The Weeper, enemy of men.”

“You make me sound like a villain.”

“Only repeating the rumours. And yet you were no match for me.”

“We weren’t competing.”

“Au contraire, bunny, I ruined your perfect streak, did I not? Any man who plays against you is bound to lose his wager. Yet I have not.”

“You’re just an irregularity. That’s all.”

“Sounds like you can’t accept your losses.”

“Now, you’re taunting me.”

“Does it sound like that?” He grabbed your wrist, pulling you against the side of a slot machine and you squirmed.

“Want to make a bet?” Those words, spoken as if they were a spell meant to enchant you led you to a roulette table. The dealer of the table looked nervous as the two of you had placed your bets and he smirked at you.

Gosh, how you’ve grown to hate that look in a short amount of time.

Best two out of three, you reminded yourself. If you won, it would mean his win was just an off round. If he wins, he wanted something from you. You tried to press him from more than ‘something’, but he wouldn’t budge beyond that.

Just two wins and you can watch his smirk be washed away.

Roulette was a game of luck and chance, still, you were up against the odds as you glanced at where you placed your chips.

“No more bets.” The dealer spun the wheel, dropping the ball as it joined the wheel in spinning before it landed in its spot.

“31, black.”

“That’s mine, isn’t it?”

“You sure do like to gloat.”

“Because it winds you up so perfectly, I can’t wait to unravel it all myself.”

“You talk as if something were going to happen between me and you.”

“I’m just going to have to get something will.” You regret agreeing to this stupid bet for a moment, it’s becoming clear to you that the game you were actually playing had nothing to do with the spinning roulette table.

“14, red.” You held back a grin, settling for giving him a look before turning your eyes back to the table.

If you could wish on all your lucky stars for this to land on any number you bet on, you did. After a silent prayer, you waited for the dealer’s words.

“21, red.”

“Oh, isn’t that ironic? Isn’t that where we first met?”

“Fuck you.”

“I wish you would, bunny.”

“Forget this.” You got up from the table, the man reaching for your wrist again and you cursed as he gripped hard. Would he just leave you alone?

“Now, bunny, you made a bet with me. Isn’t the honourable thing to do to fulfill your end of it?”

“Isn’t you winning enough for you? You have bragging rights now, just satisfy yourself with that.”

“No. I don’t need that.”

“Then, what is it? Spit it out.”

───✱*.｡:｡✱*.:｡✧*.｡✰*.:｡✧*.｡:｡*.｡✱ ───

You stuffed your head in a pillow as Soyou sat on the edge of your bed.

“He asked you out?”

“I don’t understand this man at all. One minute, he’s taunting me, the next he’s flirting with me. Is he a sadist?”

“Wouldn’t it make you a masochist for going out with him?”

“Who said I was going?”

“Weren’t you the one going on about reputations?”

“Well, that’s tainted now. So, it doesn’t matter anymore.”

“But, aren’t you at least curious about him?”

“And why would I be?”

“He’s hot from how you described him, he’s rich since he can gamble his life away so easily and he gambled like you, so there’s a shared interest between you two. Hey, if you snag him, you could just use him to gamble for you. It’ll be a definite win.”

“So, he’s probably toying with me-” You heard your phone vibrate next to you, raising it to wake and seeing a message.

Hey, bunny, dress casually and don’t be late. I don’t like waiting.

“He calls you a pet name already?”

“I don’t even know why he calls me that either. Makes me want to punch him square in the nose.”

“Well, don’t. It’ll ruin the atmosphere of the date.”

“I’m not going!”

───✱*.｡:｡✱*.:｡✧*.｡✰*.:｡✧*.｡:｡*.｡✱ ───

You spoke too soon when you got to the address that he gave you, seeing it was a café. Soyou dragged you out of bed, essentially forcing you into going. She even dared to slip a condom in your purse as if you were going to use it. And with him, of all people.

“You came?”

“Expecting to get stood up?”

“I see you’re sharp as ever, bunny.”

“I have an actual name, you know.”

“Which you have yet to tell me if you haven’t noticed.”

“Y/N. Yours?”

“Taehyung.”

“Hm, your name means ‘all wishes will come true’ huh? Explains your ridiculous luck.”

“Didn’t know you were into things like that.”

“No, I just need something to explain how I lost to you twice.”

“You should let that go, it’s not good for your health, Y/N.” You rolled your eyes, opening the door to the café and seeing a rabbit hopping in front of you.

“Look, it’s your kind.”

“Very funny, Taehyung.”

“But it’s so cute.” He scooped one into his arms, petting it and you watched as it melted under his touch.

“Don’t worry, I can give you head pats too.” He petted your head, his large hand felt warm, but you were annoyed by the casual skinship.

“Ah, thank you customer for catching him! He managed to get out.” A staff member bowed to the two of you and took the rabbit from Taehyung.

“I felt a bond forming with him.”

“You can go out with him instead if you’d like?”

“And miss the chance to spend an afternoon with a beautiful woman? I think he can wait.”

“How many women have you fed that line to?”

“I never had a woman competing with a rabbit before so, none?”

“I’m not competing-”

“It’s okay, Y/N, I’m joking. Let’s order?” He asked, you walked up to the counter with him and ordering your lunch.

You glanced at the rabbits, making eye contact with a small brown rabbit. He hopped close to his gate, you crouched in front and paused. You weren’t quite sure how to approach a rabbit.

A staff member opened his gate for you, letting the little creature hop out and you stayed still.

“You have to show him your hand, bit off to the side so he can see it.” Taehyung was crouched next to you as you followed his instructions.

“Okay.” He began to sniff your hand, you allowed him until he got closer to you.

“I think he wants to go pet him. Go for the cheeks.” You nodded, stroking his cheek and he closed his eyes. It felt like he nuzzled into your touch as you continued to pet him, and you smiled.

“I had no idea you were well versed in rabbits.”

“My grandparents had a farm, they kept rabbits. I can still remember getting nipped by one of the dominant ones.”

“Did it hurt?”

“A bit, he had a nasty bite. But I learned.”

“What else did they have?”

“The usual, chickens and cows. Gramps grew apples and oranges too. When I was born, my grandparents planted an apple tree that day. Every summer, I would check on it and see it grew taller than me.”

“You were competing with a tree, Taehyung.”

“It’s silly but I hate to lose.”

“You were bound to.”

“Unfortunately.” You laughed, Taehyung giving you an incredulous look.

“I pour part of my life story to you and you laugh.”

“Because it’s hard to imagine you competing with nature of all things. Don’t tell me you marked it in your house too?”

“And what if I did?”

“Then, you’re stranger than I thought. Acting all seductive and dominant when you’re a big softie.”

“If I were that one dimensional, that would be boring as fuck. After all, being a one-trick pony wouldn’t let me win, would it?”

“Spoken like a true gambler.”

“Even now, I’m making a wager.”

“On what?”

“Well, it’s not fun if I tell you.”

“Couldn’t let go of the teasing, huh?”

“Of course not, bunny.” You rolled your eyes, getting up as your order was called. The two of you carried your food to an empty table, the meal you ordered was in the shape of a rabbit. A sandwich neatly cut into one with a side of fries.

“That’s oddly perfect.”

“I mean it is the Tokki café, Taehyung.”

“To get the ears so perfectly matched.”

“You’re oddly fascinated by this.”

“Are you not?”

“More curious about you.”

“I like the sound of t-” You stuffed a bite of your sandwich in his mouth, you watched him chewing said bite.

“I thought we start feeding each other on the fourth date at the earliest.”

“I guess we’re moving fast.”

“Mhm.” It was the only thing he mustered, beginning to eat his meal as you ate yours. You patted a napkin around your mouth, careful to not smudge your lipstick and Taehyung kept his eyes on you.

“If you have something to say, you can say it. I don’t think I have telepathy.”

“Just thinking about how I can make this day longer.”

“Did you read some pick-up artist books before coming here?”

“Tch, those books are just for desperate people who can’t flirt.”

“Who knows, maybe they’ll teach you about subtlety.”

“Subtlety? I know what I want and go after it, simple.”

“And if it doesn’t work?”

“I don’t give up if that’s what you’re asking.” Of course, a man like him would chase until the very end. You met him at a casino for goodness sake. A place where people can put up their homes, cars, livelihoods for a chance to win.

Why would he be any different?

“Unless I know for sure there’s no chance. I also don’t like wasting my time, Y/N.”

“Neither do I.”

“Then, let’s go.”

“Where are we going?”

“You’ll see.” You jogged to catch up with him, stopping when he got in front of a rather expensive car.

“Ladies first.” He opened the passenger door, you hesitated before getting in and he got into the driver seat a few moments later.

“This isn’t where you drive me to some unknown fields and kill me or something.”

“We’re downtown, Y/N, also I’m not from here. So, if anything, we’re more likely to get lost in the city.”

“And you don’t have a GPS.”

“Got one in here.” He pointed to his head and you groaned. Is this a common trait amongst men? You still remember ending up three towns over from where you lived when your high school boyfriend wanted to take you to some cool restaurant. Your mother never let you hear the end of it, she still brings up when you called her now and then.

“Oh, great.” You remarked.

After dealing with some traffic, he parked in front of an arcade.

“A change of pace.”

“Right.” The two of you walked in together, him paying the entrance fee and you two entering the hall. The large room was filled with games, the place was mostly filled with teens and kids running around to different games.

“Come on.” He took your hand, pulling you into the direction of a racing game and taking a seat.

“At least you can’t crash this car.”

“Hey, I just like getting to places in the fastest time possible.”

“I felt like my face was going to fly off like it does in cartoons.”

“You should star in a soap opera, really good at being dramatic.”

“I’m just surprised you haven’t lost your licence.” You said as you took the seat next to his, gripping the steering wheel and entered the game.

“It helps with racing games.”

“Does it now?”

“Wanna test it?” You cocked an eyebrow, pressing start and began racing against Taehyung. The two of you were focused on beating the other that you hadn’t noticed the kids that just boosted his way to first place while you two got second and third respectively.

“How?”

“Tae, it’s okay to lose sometimes.”

“You’re only saying that because you got second, but me getting third?”

“Aw, sweetie, I can get you some ice cream to make you feel better.”

“You’re having fun with this, aren’t you?”

“Do you want the ice cream or not?”

“Yes.” The two of you ordered ice cream in a cup, you ordered chocolate chip cookie dough while Taehyung had rocky road.

“Let me have a bite.”

“Fine.” He stole your next bite, giving you a wink as he licked his lips.

“Taehyung.”

“It’s too sweet. Here.” He handed you another spoon, you gleefully took it and finished off your ice cream.

You played a few more games, most of them resulting in a tie or Taehyung winning. You didn’t mind much, having fun watching Taehyung’s competitive nature but making sure you were still enjoying yourself. He drove you home, you sat in the passenger seat with your bottom lip caught between your teeth.

“Can I see you again?” You got out of the car, Taehyung opening the door for you and you leaned against the car door as he spoke.

“Maybe.”

“I’ll take it. Good night, Y/N.”

“Good night, Taehyung.”

───✱*.｡:｡✱*.:｡✧*.｡✰*.:｡✧*.｡:｡*.｡✱ ───

Soyou came over for a girl’s night, her letting herself feel at home while you gathered the snacks.

“What’s with all the flowers?”

“Oh, he sent them…” You felt your face grow hot; Taehyung has been sending them after every date since your first. They were always the prettiest bunch; no bouquet was the same as the other and the latest was a bouquet of red camellias.

“What are they?”

“Red Camellias.” You placed down the tray of snacks, taking a bite of a cookie after you replied.

“Do you know what that means?”

“That he has a romantic side to him.”

“Oh, sweet child, do you not know about floriography?”

“Do I know what?”

“The language of the flowers, Y/N. Red camellias mean ‘You’re the flame of my heart’.”

“Flowers have meanings? Can’t they just be pretty?”

“What, they can’t multi-task now? Has he sent you others?”

“Yellow tulips, some Primroses, Alyssum, red roses, of course, and I think red chrysanthemums.”

“And you thought nothing of it.”

“Well, not all of us think of flowers like you.”

“Blame my florist mother. Anyways, the tulips mean your smile is like sunshine, primroses, alyssum mean worth beyond beauty, red roses and red chrysanthemums mean I love you and primroses mean I can’t live without you.”

“W-what? Really?”

“Girl, your man is speaking sweet nothings to you with flowers and you’re questioning it?”

“I mean he could have just sent them because they’re pretty.”

“Or that he’s madly in love with you.”

“It’s only been a few dates. Besides we haven’t done anything.”

“Do you have a photo?”

“What?’

“I need a photo of him.” You looked through your photos, choosing a random one and Soyou snatched your phone.

“What is wrong with you, Y/N?”

“Uh, nothing.”

“You have the hottest man alive and you haven’t banged him at least once?” She shrieked; you covered your ears a bit at the increased pitch.

“I don’t just put out.”

“in any other situation, I would applaud you, but this guy could bag a whole nightclub, guys and girls included. You sure you want to keep him on his toes?”

“If he wanted sex, he can hire an escort.”

“I admire your strength, Y/N.” You rolled your eyes, finishing off your cookie and scrolling through Netflix. You settled on a rom-com that Soyou raved about, staring to fall asleep partway through when the main characters had a stupid misunderstanding.

“Past bedtime, huh?”

“If I remember correctly,” a yawn escaping your lips mid-sentence before you continued, “you’re the older one here.”

“The movie wasn’t that boring.”

“I beg to differ. Will give a review in the morning, night.” Soyou rolled her eyes at you, got a tired laugh from you before the two of you went to bed in the living room.

───✱*.｡:｡✱*.:｡✧*.｡✰*.:｡✧*.｡:｡*.｡✱ ───

You woke up, the sheets next to you empty and someone was knocking at your door. Rubbing the sleep of out of your eyes, you walked to the front door and was met with flowers in your face.

“Special delivery.”

“Tae?”

“Your one and only.” He lowered the flowers to reveal his smiling face, making you smile in return.

“Wasn’t expecting to see you until Friday.”

“I missed you, bunny.” He swiftly kissed your cheek as he stepped inside your apartment, the simple gesture making your heart skip a beat.

“Plus, I wanted to meet the famous Soyou.”

“I wonder where she went.”

“Her shoes are still here.” You checked the bathroom, seeing her not there either and going into your bedroom. On the side table was a note?

“Bunny?”

“In the bedroom.” You replied, Taehyung jogging in and peered over your shoulder.

“Someone took So, thinking it was me? Why would anyone do this?”

“It’s because of me.”

“Tae…?”

“I’m so sorry, bunny. But please leave this to me.” He started to rush out the room, you followed him until you got close enough to grab his arm.

“I’m going with you.”

“Y/N, you can’t.”

“She’s my best friend, Tae. I don’t want to lose you either, no matter how annoying you are sometimes.” He chortled at the last bit

“I’ll protect you both, I promise.” He sealed his words with a kiss to your forehead.

───✱*.｡:｡✱*.:｡✧*.｡✰*.:｡✧*.｡:｡*.｡✱ ───

“Bunny, whatever you do, don’t leave the car.”

“Okay.” Yeah, right. Taehyung caressed your cheek before he left, taking the time between him entering the building before getting out yourself. You sneaked in, seeing Taehyung standing in front of a woman? Getting closer, you eavesdropped on their conversation.

“You really are a fool, V.”

V? He’s V?

“Am I? Coming to my territory, hiding in my turf and having the nerve to taking my woman? You should be thankful I came here and not my men. I’m afraid they aren’t as charitable as I am.” A cold chill ran down your spine as if someone slid an ice cube down your back. His voice was cold, calculated as if he was drained of any emotion besides silent rage.

“Where is she?”

“Aw, now you put away the venom. She really has you wrapped around her finger.” The woman came close to Taehyung, having the gull to touch his jaw with a wicked smile on her lips.

Is this the world Taehyung lives in?

“Beg. I want to hear the great V pathetically beg for his little girlfriend’s life.” You saw him get down on his knees, you could tell he was gritting his teeth as he spat his next words.

“Please. She’s innocent to the life I lead, someone I should have never tainted with my cursed soul. Let her go, I’m begging you. It’s me you wanted anyways.”

“Bring her out.” You watched as a man carried a passed out Soyou, her face covered in soot and her clothes tattered. What did they do to her?

“Looks like I clipped your little angel’s wings. But don’t worry, she’s still breathing.”

“I’m so sorry they did this to you. I-“

“Sorry to interrupt your little monologue but I’m here for a deal.”

“What?” He barked, the coldness was back.

“Oh, you can’t get all prickly with me. I kept her alive, didn’t I? Killing her would give me pleasure but I want more than that.”

“What is it?”

“I want the White Rabbit.” White Rabbit? What is that?

“You talk big, don’t you?”

“I’m a woman with ambitions, V. After all, is this woman not worth as much?”

“Let me think about it.” He crossed his finger behind his back, was that a signal to someone? To answer your question, you heard a volley of gunshots. You shut your eyes tight, covering your ears as the shots rang out and you tried to sneak back out the building. You hurriedly got in the car, your heart racing as you sat.

He had a shooter hidden in the building already? Was this common for him? You didn’t see him flinch as the shooting started, still as a statue.

“Miss Y/N?”

“Who are you?”

“A friend of V, miss. He has instructed that I take you home.”

“Where’s my friend? She was in there-”

“I know you’re scared but Mr. V will take care of it.”

“No-” You tried to open the door, the handle not budging as the man drove you off.

“What the fuck? You know kidnapping is a fucking crime, right?”

“I’ve done worse, Miss.” Your eyes widen at his statement, quickly giving up on resisting the man. He claims to be a friend of Taehyung who is also the infamous V. If the gunfire you heard was evidence of the people who were his friends, it would be wiser to cooperate.

He stopped in front of your building, you quickly got out and the man rolled down the window to leave with one thought.

“He always keeps his promise.”

Those words took root in your mind as you waited for a response from Soyou. It had been a week since you last saw her, trying to pretend that you weren’t desperately missing her. Just a simple phone is all you wished for.

You just remember seeing Taehyung take her phone before the two of you set out for her. If it didn’t work out, would he just make her disappear? The thought was disrupted by your phone loudly ringing and you answered without a second thought.

“Soyou? Are you alright?”

“Bunny. She’s at the Memorial Hospital, room 2305.” You heard his voice instead, your throat suddenly drying up and you just murmured an okay before hanging up.

You were running down the hall to the annoyance of a few nurses until you opened the door to her room.

“Soyou?”

“Y/N!”

“I was so worried.” You cried, tears already welling in your eyes before you could think and held her hand.

“Psh. I’m a lot tougher than I look, you know.”

“It didn’t hurt that I had a gorgeous man waiting on me hand and foot.” You looked back to where Soyou was staring, looking at Taehyung who shied away from eye contact. Has he been here the whole time?

“The nurses totally thought we were dating until I set them straight.”

“I’m too bad for you anyways.”

“Please, you carried up this huge teddy bear because I said Y/N liked them.”

“Soyou!” Taehyung snapped, Soyou giggling at his blushing face. You stayed silent, glancing at the bear that sat on the side table. The two of them bickered some more, you quietly excuse yourself to take a breather.

Wrapping your head around Taehyung being who he is. It was mind-numbing, to say the least, but seeing him acting so jovial, so carefree when he can speak so coldly, be so callous and stood still as he basically orders someone to kill.

His life was much more than yours was, a life where him getting close to someone meant they were dragged into it whether they know about it or not. That should have been you in that hospital gown, spending a week in a hospital because you fell for a man with secrets. Secrets that are enough to cost you your life.

It’s shameful how you managed to show your face to Soyou when it’s your fault she’s here in the first place. What a horrible friend you are.

“It’s not your fault.” You looked up to see Taehyung standing in front of you and you turned away from him.

“I know you saw, Kai told me you did.”

“If I knew who you were, I would have never… Soyou wouldn’t be like this.”

“I know. It’s my fault, this is just more sins I should atone for. Getting Soyou hurt, putting you in danger, hurting you in the process. I don’t think a universe filled with I’m sorry would be enough for everything I’ve done. But I am still sorry about it.”

“Taehyung. Please.”

“I made a promise to protect you. Even if it means we never meet again, I’m going to keep my word, bunny.”

“Listen, Taehyung.”

“I’m sorry.” He bowed to you before walking off. You wanted to call out to him, give him a piece of your mind for not letting you speak and saying everything that you’ve been wanting to say since you last saw him but you could make two steps before he was out of your sight.

It’s always the last words with him, huh.

───✱*.｡:｡✱*.:｡✧*.｡✰*.:｡✧*.｡:｡*.｡✱ ───

You helped Soyou get to her house, driving her house as she was discharged two weeks after your first visit. Taehyung vanished like a shadow, you never heard a word from him since. You kept it that way, putting your energy into rebuilding your life again.

“Did you and Tae have a fallout?”

“What?”

“Y/N, I can see that lovelorn kind of look on your face. It’s been like that for the past 2 weeks, it’s kind of sickening really.”

“Lovelorn, So? I’m not in love.”

“Please. Don’t try to fool me, I’ve watched too many romantic movies to know the situation we’re in. You blame yourself for what happened, and you don’t want Taehyung around because he’s a reminder of it.”

“Even if that’s true?”

“Then, you’re an idiot.”

“Gee, and I was trying to be a good best friend.”

“So am I. I’m not going to let my best friend miss her chance at happiness. You don’t have to punish yourself for me, I’ve forgiven you for worse things.”

“Like what?”

“Letting me wear white after Arbour day.” You looked at her for a minute, gauging how serious she was before bursting out into laughter.

“Seriously.” You said, Soyou laughing with you.

“But seriously, get your butt in gear. We have to transform you into a woman that Tae can’t keep his hands off of. A femme fatale, in simple words.”

“Soyou? What did you plan?”

“Just go with it.”

“Isn’t that what you said to me about Taehyung the first time?”

“Oh shut it, you’re in love with him now.”

“Am not.” You sassed, Soyou rolling her eyes as she pushed you into her bedroom.

“Let me work my magic.”

───✱*.｡:｡✱*.:｡✧*.｡✰*.:｡✧*.｡:｡*.｡✱ ───

Soyou led you out the door, you saw the man from that day bowing. His name was Kai, wasn’t it?

“Miss Y/N, Miss Soyou.”

“Is this part of your plan?”

“Of course. Plus seeing Kai in a suit is a little bonus for me.” You saw her wink at him to which he coughed to cover up the fact he was blushing.

“Do you realize what you’re getting into?”

“I don’t mind playing with little fire, Y/N.”

“Okay, I’m leaving before you start with bedroom eyes.” You got into the car, Kai hopping into the driver’s seat.

“Are you at least going to tell me where we’re going?”

“I’m afraid not, Miss. V wants you to be blindfolded even.”

“Still wants to keep secrets, huh.”

“May I?”

“Go ahead.” The cotton scarf felt soft around your face as a knot was skillfully tied behind your head. You sat in anticipation, anxious about what this plan Soyou devised entails. The car finally stopped and you heard someone else open the door, you blindly taking their hand.

“I’ll lead the way.” You could only follow, holding onto an arm and walking up to what you believed was an elevator from the ding you heard. He led you in, the time you’re spending only making you more nervous.

“It’ll be alright, Miss.”

“I hope so.”

“Miss Soyou really cares about you as does V, even though he tries his best to hide it. I could dare say he loves you.” You thought you heard rustling but you dismissed as your nerves talking.

“But I can see that you both care for each other from how Miss Soyou describes you both.” Note to self: Give Soyou a piece of your mind next time.

“Ah, we’re here.” You followed, walking down a corridor and heard a door click.

“I can take it from here.” You pushed the blindfold up, seeing you holding onto Taehyung.

“You were there since I got out of the car, weren’t you?”

“You noticed.”

“For Kai to suddenly smell like your cologne was a dead giveaway, Taehyung.”

“I’m too good for the cheap one he buys.” You rolled your eyes, letting go of him and taking a few steps back.

You bit your lip, fighting the smile that threatened to show. Was it always this easy for him to toy with you like this?

“He was right, Kai I mean. About me loving you.”

“Taehyung.”

“I’m sorry. I know these aren’t the words you want to hear. Not from me, at least.” He’s still there. That goofball that stumbles on his words, teases you constantly and has more cheesy lines than a cheese factory.

“Are you willing to listen to what I have to say? Whatever it is.” He took a seat, you stayed standing.

“Yes.” You gave him a look, him nervously scratching his neck and you took a deep breath.

“I missed you. The part of you that you showed me, even when you rattled me up into some stupid bets. But when I saw you there, how emotionless you were, I was afraid. Afraid of V. Like everyone else was. Seeing you at the hospital confused me too because I thought it was all an act. That cold man is who you should be.” You looked him in the eyes, knowing that he wouldn’t say a word until he knew you were done.

“But I know it’s not. I feel it in my heart, that smile you give me, those flowers you sent me… It was all real. So I want to accept you, all of you.” You sat in his lap, cupping his cheek before pressing your lips against his.

You kept it brief, gently pulling away and resting your forehead on his.

“Give me everything, Taehyung.” You whispered, Taehyung taking his turn to kiss you. It was more passionate as if he were pouring his heart into every movement of his lips against yours.

Yet it was hot, his tongue playing with you smoothly as he kissed you deeply. His hands found your zipper, the dress giving him no resistance and it pooled in his lap.

“You’re so beautiful.” He murmured against your skin, pressing kisses along your neck. You made work of his shirt, revealing his chest as he played with your nipples through your bra.

You let out a moan to his pleasure, you began to ground your hips against him. A groan gave you the push to keep going, changing the rhythm your hips followed.

“Shit. Bunny.”

“Hm? What is it, Taehyung?”

“Don’t play coy, baby. I’m not afraid to punish you tonight.”

“Don’t act all tough with me, I know you’re wrapped around my finger.”

“Is that so?”

“Prove me wrong then.” A sardonic smile was on his face, knowing that he hated to lose. He took you to the bed, your back hitting the mattress hard while his hands rest on either side of your head.

“Don’t say I didn’t warn you.” He muttered against your lips, roughly taking your lips. His hands were more callous while touching you, ridding you of your underwear with one hand as if it were a simple task.

His hand dipped between your legs, crudely finding your clit and rubbing fast circles.

“No bite now, bunny? You’re wet enough to soak the sheets.”

“Rich coming from the man who’s hard as a rock.” You pressed your knee against his crotch, rubbing it through his dress pants.

“I’d be crazy if I wasn’t. Hearing you shamelessly moan my name while I pound you into the mattress, gripping the sheets hopelessly. Begging for more like the horny little bunny you are.”

“Don’t even bother to deny it, your pussy is soaking my fingers as we speak.”

“You’re a dirty man.”

“And you love it, Y/N.” He dipped down, moving his body down the bed and pushing your legs up and open for him.

You wouldn’t have the chance to speak, his tongue quickly pressed against your cunt. It took everything in you to stop salacious sounds from escaping your lips but a quick swirl of his tongue on your clit opened them like Pandora’s box.

The long strokes of his tongue alternated with short licks before you felt it enter you. Embarrassment flushed you as you heard wet sounds each time he dipped his tongue in. Soon his fingers would replace his tongue, two entering you without much.

“I want to hear more. Come on.” He smacked your thigh, eliciting a whimper from you. His thumb played with your clit as his fingers pumped fast and deep. You knew he had experience under his belt with looks like his but you were already a mess so early on.

“Show me more of that expression, bunny. I want to see how you look when you come.” He pressed on further, his fingers finding your g-shot and your clit beginning to feel overstimulated.

“Come for me.” You arched your back, toes curling and he pumped his finger while you rode out your high.

“Good girl.” You looked at him, licking his fingers clean and you sat up.

“Let me return the favour.” You said, reaching for his belt and he helped you reveal his dick. From grinding earlier, you figured he was above average but he was more than you imagined.

“You can’t intimidate my cock into getting harder by staring, you know.”

“Sorry. Just admiring.”

“Carry on.”

“Dick.”

“Funny.”

“Can be when I want to be.” You positioned him to lie down, gripping the shaft and begin slow twisting pumps, using your spit to lubricate before sinking your mouth around him.

“Oh, fuck.” You found a pace that made him twitch in your mouth, milking delicious grunts and growls from him in the process. His hands tangled in your hair as if he were controlling your pace but the loose grip let you know you were really in control.

“Shit, slow down.” You let him out of your mouth, still pumping him and licking your lip.

“Let me get a condom.” He looked through the drawer next to the bed, you took the chance to smack his ass to which he shot you a glance.

“What, you have nice cheeks.”

“So do you. Would look real nice with my handprints.”

“Want to test that?”

“Such a naughty bunny.” He retorted, flipping you on your stomach. His shins rested on the mattress on either side of your legs, one hand gripping his dick as the other held you still.

“Please, Tae. I want to feel you.” He plunged into you, the thick girth making you gasp as he slowly entered you.

“Are you okay, bunny? Does it hurt?” He pressed delicate kisses along your shoulder blades, trying to keep still until you spoke.

“I’m alright, Tae, you can move.” You breathed out.

Taehyung kept true to his word, only giving you a few slow strokes before he began his merciless thrusts. Your butt jiggled with each thrust, his hand periodically giving slaps to each cheek.

“Fuck, Taehyung.” You mewled out, unable to say more as he drilled into you. The delectable stretch you felt with each thrust numbed your mind as you felt your cunt set ablaze.

Your body grew hot, sweat forming all over your body and you could only vocalize sounds of pleasure. Taehyung’s grunts only made you wetter, allowing him to slide into your further and drive you even crazier.

“Love the way you clench -nng around me, bunny.”

“Gonna mould this pussy into the shape of my cock, do you want that, huh?”

“Fuck, please- ng. Hnng.” He slapped your ass in response, changing his pace and slid almost out of you before slamming himself back in.

“T-tae.” No words left his lips, only loud growls and grunts with the new rhythm he followed.

You cried out as one odd thrust made you come again and he kept going. Changing his pace again, his dick was perfectly angled to your g-spot and you whined from the overstimulation.

You were losing your mind, was sex always this good or was it because of Taehyung? Taehyung wouldn’t allow you to dwell on the question, pulling you back to edge of another orgasm with his touch on your clit.

“Fuck.”

“Clench around me, bunny.” You did as he asked, a low groan in your ear as a reward before he began to sloppily thrust in you. He stopped, cursing as he finally came.

“Are you alright, bunny?”He pulled out, removing the condom as you two regained your breaths. He went into the bathroom, getting something.

“Yeah.” You responded as he re-entered the room, him carefully wiping the sweat off of you.

“Good, it’s time for round two.”

“Taehyung, we don’t have to fuck like rabbits, you know.”He chuckled at your response, getting next to you and you shielded your self with your arms.

“I meant cuddles, bunny.”

“Now, come here. I don’t ever want to let you go again.”

#bts #bts smut #taehyung smut #bts reader insert #bts x reader #taehyung x you #taehyung x reader #bts taehyung #taehyung imagine #bts imagines #bts scenario #bts scenarios #taehyung scenarios #taehyung #smut #bts fanfic #taehyung fanfic

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janice763-blog · 6 years ago

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Casino Reinvestment and Expansion

The Proper Care & Feeding of the Golden Goose

Under the new paradigm of declining economic conditions across a broad spectrum of consumer spending, casinos face a unique challenge in addressing how they both maintain profitability while also remaining competitive. These factors are further complicated within the commercial gaming sector with increasing tax rates, and within the Indian gaming sector by self imposed contributions to tribal general funds, and/or per capita distributions, in addition to a growing trend in state imposed fees.

Determining how much to "render unto Caesar," while reserving the requisite funds to maintain market share, grow market penetration and improve profitability, is a daunting task that must be well planned and executed.

It is within this context and the author's perspective that includes time and grade hands-on experience in the development and management of these types of investments, that this article relates ways in which to plan and prioritize a casino reinvestment strategy.

Cooked Goose

Although it would seem axiomatic not to cook the goose that lays the golden eggs, it is amazing how little thought is oft times given to its on-going proper care and feeding. With the advent of a new casino, developers/tribal councils, investors & financiers are rightfully anxious to reap the rewards and there is a tendency not to allocate a sufficient amount of the profits towards asset maintenance & enhancement. Thereby begging the question of just how much of the profits should be allocated to reinvestment, and towards what goals.

Inasmuch as each project has its own particular set of circumstances, there are no hard and fast rules. For the most part, many of the major commercial casino operators do not distribute net profits as dividends to their stockholders, but rather reinvest them in improvements to their existing venues while also seeking new locations. Some of these programs are also funded through additional debt instruments and/or equity stock offerings. The lowered tax rates on corporate dividends will likely shift the emphasis of these financing methods, while still maintaining the core business prudence of on-going reinvestment.

Profit Allocation

As a group, and prior to the current economic conditions, the publicly held companies had a net profit ratio (earnings before income taxes & depreciation) that averages 25% of income after deduction of the gross revenue taxes and interest payments. On average, almost two thirds of the remaining profits are utilized for reinvestment and asset replacement.

Casino operations in low gross gaming tax rate jurisdictions are more readily able to reinvest in their properties, thereby further enhancing revenues that will eventually benefit the tax base. New Jersey is a good example, as it mandates certain reinvestment allocations, as a revenue stimulant. Other states, such as Illinois and Indiana with higher effective rates, run the risk of reducing reinvestment that may eventually erode the ability of the casinos to grow market demand penetrations, especially as neighboring states become more competitive. Moreover, effective management can generate higher available profit for reinvestment, stemming from both efficient operations and favorable borrowing & equity offerings.

How a casino enterprise decides to allocate its casino profits is a critical element in determining its long-term viability, and should be an integral aspect of the initial development strategy. While short term loan amortization/debt prepayment programs may at first seem desirable so as to quickly come out from under the obligation, they can also sharply reduce the ability to reinvest/expand on a timely basis. This is also true for any profit distribution, whether to investors or in the case of Indian gaming projects, distributions to a tribe's general fund for infrastructure/per capita payments.

Moreover, many lenders make the mistake of requiring excessive debt service reserves and place restrictions on reinvestment or further leverage which can seriously limit a given project's ability to maintain its competitiveness and/or meet available opportunities.

Whereas we are not advocating that all profits be plowed-back into the operation, we are encouraging the consideration of an allocation program that takes into account the "real" costs of maintaining the asset and maximizing its impact.

Establishing Priorities

There are three essential areas of capital allocation that should be considered, as shown below and in order of priority.

1. Maintenance and Replacement 2. Cost Savings 3. Revenue Enhancement/Growth

The first two priorities are easy enough to appreciate, in that they have a direct affect on maintaining market positioning and improving profitability, whereas, the third is somewhat problematical in that it has more of an indirect affect that requires an understanding of the market dynamics and greater investment risk. All aspects that are herewith further discussed.

Maintenance & Replacement

Maintenance & Replacement provisions should be a regular function of the casino's annual budget, which represents a fixed reserve based on the projected replacement costs of furniture, fixture, equipment, building, systems and landscaping. Too often however we see annual wish lists that bear no relationship to the actual wear & tear of these items. It is therefore important to actually schedule the replacement cycle, allocating funds that do not necessarily have to actually be incurred in the year of accrual. During a start-up period it may not seem necessary to spend any money on replacement of brand new assets, however by accruing amounts to be reserved for their eventual recycling will avoid having to scurry for the funds when they are most needed.

One area of special consideration is slot machines, whose replacement cycle has been shortening of late, as newer games & technologies are developing at a much higher rate, and as the competition dictates.

Cost Savings

Investment in cost savings programs & systems are, by their very nature and if adequately researched a less risky use of profit allocation funding then almost any other investment. These items can often take the form of new energy saving systems, labor saving products, more efficient purchasing intermediation, and interest reductions.

These items have their caveats, one of which is to thoroughly analyze their touted savings against your own particular application, as often times the product claims are exaggerated. Lease buy-outs and long term debt prepayments can sometimes be advantageous, especially when the obligations were entered into during the development stage when equity funds may have been limited. In these cases it is important to look at this strategy's net effect on the bottom line, in comparison with alternative uses of the monies for revenue enhancing/growth investments.

One recent trend is the growing popularity of cash-less slot systems, which not only provide labor savings for fills, counts and hand-pays, but also serve as an aid to patrons who do not like to lug around those cumbersome coin buckets, while also encouraging multiple game usage. Revenue Enhancing & Growth

Leveraging is the key catalyst of any revenue enhancing/growth related investment. It includes the following:

o Patronage Base o Available Funds o Lands o Marketing Clout o Management Experience

The principal is to leverage the use of the available asset towards achieving higher revenues & profitability. Typical examples include increasing average patronage base spending and widening the effective trading radius, by offering additional products/services, such as retail stores, entertainment alternatives, recreational/leisure amenities, overnight accommodations, more restaurant choices, and of course, expanded gaming.

Master Planning

Anticipation of potential growth and expansion should be fully integrated into the project's initial master planning so as it assure cohesive integration of the possible elements in a phased-in program, while also allowing for the least amount of operational interruption. Unfortunately, it's not always possible to anticipate market changes, so expansion alternatives must be carefully considered.

The Big Picture

Before embarking on any type of expansion and/or enhancement program we strongly recommend first stepping back and assessing the property's present positioning relative to the market and competitive environment. As we have observed in numerous gaming jurisdictions around the country, often casino ventures that have been operating "fat and happy" for a few years, find themselves in a zero-growth period. Sometimes this is due to competition stemming from either/both new local area casinos or regional venues that have the affect of reducing patronage from peripheral area markets. Additionally, the current customer base may become bored with their experience and are seeking greener pastures. The historical growth of the Las Vegas strip is testament to the success of continually "reinventing" oneself.

Our approach to these market studies is initially focused on determining the degree to which the current facility is penetrating the potential market and in relationship to any competitive market shares. Typically, this represents an analysis of the current patronage base in terms of information gleaned from the player tracking data base, and mailing lists, coupled with day-part, daily, weekly, monthly and seasonal revenue trends.

This data is then interfaced with an assessment of the overall market potential to indicate the extent to which certain market segments are utilizing the facility and the needs it is fulfilling. More importantly however, is that this type of analysis will indicate those market segments that are not utilizing the facility more fully, and why.

Occasion Segmentation

As our proprietary studies have indicated, casino markets are segmented by various characteristics of occasioned-use that also include typical spending & visitation patterns. The traditional methods of market measurements, including gravity models, usually only weigh the demographic characteristics of a given population, based on revenues achieved in similar markets. However, an occasion segmentation market analysis reveals more detailed information as to the reasons precipitating a casino visit, how they relate to the benefits being sought, and the degree to which the occasion determines average spending and visitation frequency. This type of data mining is far more helpful than gravity modeling, in that it can help determine the type of facilities and positioning strategies necessary to attract each market segment, by measuring their relative contribution to the aggregate potential. The process has been successfully employed in the restaurant business and other leisure time service industries, especially amid a widening supply/demand marketplace.

Perhaps even more importantly, looking at the market from an occasioned-use perspective, reveals the extent and characteristics of the underling competition, that, in many cases not only include other casinos, but also alternative entertainment and leisure time activities, such as restaurants, clubs, theaters, and the like.

Demand Density

Another important aspect of occasion segmentation is in measuring overall market characteristics by day-parts, which is revenue density by time of day, day per week, weekly, monthly, and seasonally. This is especially important data when casino venues are seeking to lessen any higher than normal fluctuations that may be occurring between a slow Monday morning and a packed Saturday night; or that experience severe seasonal variations.

By segmenting markets by their demand patterns, a better understanding can be gained of which amenities may help bolster the weak demand periods, and those that may only add to the already maximized peaks.

Many expansion programs often make the mistake of configuring additional amenities such as high-end restaurants and lodging elements based on the peak demand periods. As a result, the net effect of costs & expenses for these investments can negate any contribution they may make to increased gaming revenues. Rather, "fill-in" markets are the most efficient means to increase overall revenues, as they utilize existing capacities. Las Vegas has achieved great success in creating strong mid-week activity through promotion of its extensive conference/convention facilities.

Amenity Driven Markets

Another benefit of utilizing occasion-segmentation is its ability to also indicate the potential impact certain amenities have on "impelling" visitation. While gravity models examine the casino related spending characteristics of a given market area, the formulas cannot measure the relative impact of any non-gaming driven activities that could nonetheless generate casino traffic.

Important data relating to the population's occasioned-use of restaurant, entertainment, and weekend getaways can often form the basis on which to focus amenities designed to cater to these markets; and by so doing, increase visitation. Whereas many of these patrons may or may not utilize the casino, their exposure to the opportunity may hasten their use, while also creating an additional profit center.

Again, looking to the Las Vegas paradigm, more and more of the strip properties are now generating as much, if not more, non-gaming revenues than gaming revenues; as their hotels and restaurants are less & less subsidized, and along with their growing retail elements, represent strong contributors to the bottom line.

Program Development

Once equipped with a basic understanding of the market dynamics, both in terms of the existing facility's current market shares/penetration rates in relationship to the competitive mix, and the overall occasioned-use of the market, a matrix can be created that sets the demand against the supply. This function seeks to identify areas of un-met demand opportunities and/or over supply, that forms the spring-board to the creation of relevant amenities, expansion and upgrade criteria & strategies.

Impact Criteria

Essentially there are two types of expansion/upgrade strategies: subsidized and profit-centers. Subsidized elements may include adding and/or improving amenities that will further widen current gaming market penetration/shares, thusly having a direct impact on growing casino revenues; while profit centers are designed to further leverage current patronage patterns with additional spending opportunities, and having an in-direct effect on gaming activity. Although many of the more traditional amenities, such as restaurants, hotels, retail shops, entertainment venues and recreational facilities can fall into one or both of these categories, its important to make the distinction, so as to clearly establish the design/development criteria.

Upgrading/Expansion

As has been previously discussed, Las Vegas continually seeks to reinvent itself as a means to increase repeat visitation, that in itself creates a snowballing affect as each venue must keep-up with its neighbor. To some extent upgrading programs, that may include creating a new and fresher look, is a lot like an insurance policy against slipping revenues, and do not necessarily relate to any incremental growth per se. Not to be mistaken for replacement programs of worn carpeting and slot machine recycling, an upgrade program should seek to create new excitement about the facility in terms of ambiance, quality of finishes, layouts, and overall décor.

Expansion of existing capacity is less a function of market analysis and more a function of "making hay while the sun shines," based on a thorough understanding of the visitation pattern densities. Patron back-ups for gaming positions and restaurant tables can be both good and bad, depending on when they occur and how often. High per position per day net win averages are not always a sign of a prospering casino, as they could also mean lost opportunity because of an insufficient number of games. Conversely, additional positions are not always going to generate the same averages.

When initially configuring capacities for a new facility, it is important to fully evaluate the demand patterns into their respective day-part components that will maximize penetration during the peak periods while minimizing inefficiency - the point where the costs associated with additional capacity is exceeded by its net income potential.

Food & Beverage Amenities

Within most casino venues, restaurant amenities are "loss leaders," designed to retain & attract casino patrons with low prices and great value; yet they have the ability to both widen occasioned-use of the casino, while also representing potential profit centers.

In Nevada, which is the only state where detailed historical F&B departmental operating results are available for casinos, properties with gaming revenues averaging between $20M to $200M showed food operations having a net departmental loss of 1.5% of sales in 2001, versus almost a 14% loss in 1995.

Much of this major turnaround is due to the growth in the number of food outlets, especially more upscale/specialty restaurants, which has spurred sales from 20% of gaming revenue in 1995 to almost 27% in 2001. Moreover, food costs have been reduced sharply from 45% in 1995 to 35% in '01.

As the previous discussion on occasion-segmentation revealed, a consumer's choice of a casino visit can sometimes compete with other entertainment/leisure time activities, including dining out. Having a market relevant restaurant facility within the casino can serve to attract the dining-out destination market, with the casino benefiting from its proximity. Therefore when market conditions indicate changes in a casino's restaurant configuration, the questions to be addressed are how can they be designed to satisfy the current patronage base, widen occasioned-use, and improve profitability.

Lodging Elements

With turnkey hotel development costs ranging between $75K to $350K per available room, a market positioning strategy had better be well studied. Yet we see many such projects undertaken with little understanding of the market dynamics and economic impact.

Nationwide, according to our most recent survey, there are 724 casinos around the country; comprised of 442 commercial operations, about half of which are located in Nevada, and 282 Indian gaming venues, of which 209 offer most, if not all, of Las Vegas type (Class III) games. Roundly 58% of casinos in the commercial gaming sector have co-located hotels, compared with 37% of Class III Indian gaming venues, despite their containing a similar average number of games.

The high preponderance of hotels within the commercial sector owes to some gaming jurisdictions requiring them; including Nevada (for an unrestricted license) and New Jersey. Moreover, much of the Nevada market demand stems from beyond a daytrip radius, making overnight accommodations necessary in order to gain market share. When extrapolating these states from the total, the percentage of all commercial casinos with hotels drops to 50%, with an average of 312 rooms & 1,183 games.

The obvious advantages of casino lodging units is their ability to attract gaming markets from beyond the typical day trip radius, while also having a somewhat "captured" market (Casinos with Hotels). Moreover, guest rooms can be another perk-use for player club points. Hotels also widen a casino's occasioned-use by offering non-gaming leisure activities & amenities, augmented by the ready availability of gaming, while also representing another profit center (Hotels with Casinos). Additionally, within a traditional lodging setting, a casino/hotel has a competitive advantage by virtue of its added entertainment features.

Among the major Las Vegas properties there are more hotel rooms than games, as the city transits from a gaming destination to more of a resort & convention destination. In so doing these properties increased their hotel profitability and investment returns by not having to offer low rates to attract gamers. Whereas, some areas such as Laughlin and Reno, which do not enjoy the critical mass of a Las Vegas, still find it necessary to supplement their hotel investment with casino revenue, due to low room rates and large seasonal visitation fluctuations

In configuring a casino hotel development it is therefore important to understand the market and financial dynamics and their impact on overall gaming revenue and profits. Within the free-standing (non-casino) hotel industry, financing terms are usually over a 15 to 20 year amortization schedule with a ten year balloon/refinance, and have a break even point that approaches 65% to 70% occupancy. Typical casino based lodging elements enjoy high occupancy levels on the weekends, but low levels weekday. It is therefore incumbent not to "build a church for Easter Sunday," keeping in mind the overall efficient use of the asset.

Moreover, if the intent is to attract additional casino patronage from a wider market radius, it is important to evaluate the cost of any hotel subsidy versus the potential increase in gaming profits. A new 200 room hotel at a casino already generating 20,000 weekend visitors, may only be adding 2% to 4% more players, while exposing itself to higher costs. In regards to occasioned-use, especially among tourists and weekenders, casino hotels may also be competing with alternative resorts in the region.

Ideally, these types of facilities, when not situated in markets with insufficient local/day-trip markets (e.g. Laughlin), should be configured on the basis of their non-gaming related and off-peak period support so as to maintain relevant room rates and adequate levels of profitability. They should also include those amenities these markets are seeking, including, where applicable: conference and convention facilities, and indoor/outdoor recreational elements.

Albeit more of a niche market, RV Park facilities are a less intensive investment in overnight lodging facilities that can nonetheless offer some of the same benefits. According to the latest data, there are more than 9 million households in the United States that own RVs, and represent one of every ten vehicle owning households. Many of these households include the 55 & over age groups, who have a higher than average gaming propensity and annual income.

RV Park development costs are well below those for hotels, but usually have a high seasonal use, peaking during the summer months in temperate resort environs and in the winter months in the "snowbird" areas.

Retail/Outlet Shops

Retail/Outlet shopping is gaining a major foothold at casino venues across the country. First represented by casino logo shops and a few high-roller/jackpot-winner positioned boutiques, these stores have now grown into major malls and entertainment centers. The Forum Shops at Caesar's Palace in Las Vegas enjoys the highest per square foot sales of all retail malls in the U.S., and the growth in retail sales in the city is significantly outpacing that of gaming revenue. The presence of these shops serves as both an activity to the area's 35 million annual visitors, who are now spending less than 4 hours per day actually gaming, as well as a major profit center that leverages the visitation base.

In less resort destination type markets, outlet malls are strong traffic generators from which a casino facility can draw patronage. On a smaller scale, casinos can widen their occasioned-use by offering unique and indigenous shopping that is especially positioned to attract the "adjunctive" daytripper market. The extent and characteristics of these stores should be scaled to the potential market, current visitation trends, and any local ambiance.

Entertainment

Although entertainment is a mainstay in casino environments, stemming from the Rat Pack days in Las Vegas, to today's imposing concert/arena venues and specialty shows; their market dynamics are much misunderstood. They are at once, diversions, attractions, profit centers, and public relation tools. They can however, also generate major losses, and therefore should be well studied to determine their appropriate configuration.

With most major entertainment events occurring during the weekend periods the attracted audiences may not have any significant impact on a likely already busy period. Therefore it in incumbent that the specific event be structured so as to at least break even or turn a small profit. While this is somewhat self evident, the more central issue is the entertainment venue's ability to also amortize its initial development cost investment. Outdoor facilities can sharply reduce construction costs, but also are prone to weather vagaries and seasonal use. Moreover, party tents and temporary structures usually do not have the cache of a fixed venue that is an integral part of the casino facility.

Recreational Facilities

There is a lot of attention these days being given to the development of recreational facilities at casino venues, especially those associated with resort projects. Golf courses are a common adjunct to many resorts, and many Indian communities enjoy the advantage of having access to the ample land areas and water rights these types of undertakings require.

As with all of the other revenue enhancing reinvestment alternatives discussed herein, recreational facility development should be considered within the context of its ability to generate additional casino patrons and/or serve as a profit center. Whereas golfers traditionally have a high gaming proclivity the association of golf with a casino is not exactly in sync, given the length of time required for a typical round. Moreover, even under the highest utilization rates, a typical 18 hole golf course will only accommodate about 140 players per day, while the national average in year round environments is about 100 rounds per day. This is not a lot of additional players for the casino, even if all of them gambled, and especially considering the cost of an average course, excluding land, ranging between $5M to $15M.

However, golf course development as part of a resort package and/or to fill a local market demand can have many non-gaming related benefits. From a resort development standpoint, a golf course as well as other recreational elements can add to the facility's competitive positioning, to the point where its development/operating costs can be recaptured through higher room rates/green fees. Many traditional golf courses also "pencil-out" when incorporating fairway home sites, which have a particularly higher value than non-golf course sites. Given the trust status of Indian lands, this may be somewhat problematical on reservation lands, unless some sort of long term land leases could be negotiated for the home owners. Planning/Financing & Implementation

Once all of the salient market factors have been considered and weighted against their cost vs. benefits, a comprehensive reinvestment & expansion program can begin to take shape. A design & construction team should be assembled that can help further interpret the program in terms of creative and value engineering input, while also maintaining its established market positioning and financial strategies 우리카지노.

Importantly, the program should illustrate how each element will be coordinated into the overall facility fabric and the manner in which it will be financed. Some funding can stem from reserved profit allocations, while others independently funded with additional debt, whose amortization has been factored into the overall project's feasibility analysis.

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techcrunchappcom · 4 years ago

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New Post has been published on https://techcrunchapp.com/house-passes-25b-in-emergency-postal-service-fundingwhite-house-threatens-veto-fox-news/

House passes $25B in 'emergency' Postal Service funding, White House threatens veto - Fox News

The House of Representatives on Saturday passed a $25 billion funding infusion to the U.S. Postal Service in a bill that also would reverse new cost-cutting measures and ban any efforts to slow down the mail until at least next year.

The vote was 257-150 with 26 Republicans joining the Democrats.

Democrats called the rare “emergency” session in the middle of the summer recess because they contend President Trump and new Postmaster General Louis DeJoy are trying to sabotage the 2020 election by delaying service that could compromise mail-in ballots during the coronavirus pandemic.

“We are experiencing a global pandemic and now our U.S. Postal Service is under attack,” said Rep. Rashida Tlaib, D-Mich. “Let it be clear: This administration is waging an authoritarian campaign to sabotage this election by manipulating the Postal Service to suppress our votes … This is not a conspiracy theory. This is fascism. We will not stand for this.”

HOUSE DEMOCRATS PUSH FORWARD WITH $25B POST OFFICE BILL, GOP DISMISSES RARE SATURDAY VOTE AS A ��JOKE’

Rep. Gerald Connolly, D-Va., said DeJoy is “a crony and major donor of the president.” Together, they have waged a campaign to disrupt the timeliness of mail delivery and erode public confidence in the Postal Service that — if successful — would be “the largest voter suppression in American history since Jim Crow,” Connolly said.

Republicans dismissed the Democrats’ election concerns as “conspiracy theory.” GOP members said the Postal Service is not in a crisis and can handle any uptick in volume from mail-in ballots, pointing to its $14 billion in available cash and access to a $10 billion loan from the Treasury.

“Like the Russia hoax and impeachment sham, the Democrats have manufactured another scandal for political purposes,” said Rep. James Comer, R-Ky.

Rep. Debbie Lesko, R-Ariz., said Democrats are using the Postal Service to gin up “a new Trump conspiracy theory” even though the president doesn’t control the postmaster general.

“Seems insane, but all too typical for the Trump-hating Democrats,” Lesko said.

House Speaker Nancy Pelosi, D-Calif., speaks during a news conference on Capitol Hill in Washington, Aug. 22. The House is set for a rare Saturday session to pass legislation to halt changes in the Postal Service and provide $25 billion in emergency funds. (Associated Press)

The legislation is not expected to go anywhere. The GOP-led Senate has no plans to take up the bill and the White House issued a veto threat on Friday saying USPS doesn’t need a $25 billion bailout.

Trump tweeted Saturday his opposition to funding for the Postal Service and linked it to his objections to universal mail-in voting.

“Vote NO to the Pelosi/ Schumer money wasting HOAX which is taking place now,” Trump tweeted. “Then fight the $51 million unasked for Ballots. Only ABSENTEE BALLOTS are acceptable!”

The Delivering for America Act would infuse the post office with $25 billion, reverse the service changes that DeJoy enacted this year and prevent the Postal Service from taking any measures that could slow down the mail until after the coronavirus pandemic or Jan. 31, 2021 — whichever is later.

The legislation specifically bans reducing service hours at postal facilities, decommissioning mail sorting machines and removing community mailboxes. The bill would prohibit any limits on overtime pay, hiring freezes, delaying mail service and treating election mail as anything less than first-class mail.

Democrats point to growing concerns from constituents over mail delays coinciding with postal changes on DeJoy’s watch. DeJoy rejected that any political motives were at play, but told a Senate panel on Friday there has been a slowdown.

“We all feel bad about the dip in our service,” DeJoy said, adding that they were working to fix the problems.

Under mounting pressure, a noisy protest at his Washington home and alarm over the removal of blue collection boxes in communities, DeJoy on Tuesday announced he was putting a pause on any service changes until after the election.

“To avoid even the appearance of any impact on election mail, I am suspending these initiatives until after the election is concluded,” DeJoy said.

In this image from video, U.S. Postmaster General Louis DeJoy testifies during a video virtual hearing before the Senate Governmental Affairs Committee on the U.S. Postal Service during COVID-19 and the upcoming elections, Aug. 21, on Capitol Hill in Washington. (US Senate Committee on Homeland Security & Governmental Affairs via AP)

But Democrats said DeJoy paused the changes only because he “was caught red-handed” and argued the emergency legislation was needed to bar him from undermining mail delivery and the 2020 election.

Rep. Carolyn Maloney, D-N.Y., chair of the House Oversight Committee, produced a new internal Postal Service document on the House floor Saturday that she says revealed a significant drop in service standards at the Postal Service since DeJoy implemented changes. The document was a presentation prepared for DeJoy on Aug. 12.

PELOSI RIPS TRUMP FOR TRYING TO ‘SCARE’ VOTERS: ‘DON’T PAY ANY ATTENTION TO WHAT THE PRESIDENT IS SAYING’

“To those who still claim there are ‘no delays’ and that these reports are just ‘conspiracy theories,’ I hope this new data causes them to re-think their position and support our urgent legislation today,” Maloney said.

Republicans took a couple of shots at Maloney during the debate, pointing to her primary race in New York City, which took weeks to call as election officials struggled to count mail-in votes. They said her race should serve as a warning of the dangers of universal mail-in voting for the November election.

“If anyone should know, it should be the chairwoman of this committee who had to wait six weeks after the Election Day to get the results of her election,” said Rep. Jim Jordan, R-Ohio, who dismissed the House legislation as a political “charade.”

“Imagine what the Democrats want to do — throw live ballots out there to everyone.”

The Postal Service has lost about $80 billion since 2007 through a decline of mail volume and a congressional requirement that the Postal Service pre-fund retiree health benefits. The problems at the Postal Service have been under the spotlight especially this year with the pandemic and greater reliance on mail-in services.

The Postal Service board requested the $25 billion in funding from Congress earlier this year and Democrats agreed. The funding was initially included in the $3 trillion coronavirus relief bill the House passed in May, but the HEROES Act died in the GOP-controlled Senate.

Republicans and the White House said the $25 billion isn’t needed and they took special issue with the language that blocks DeJoy from implementing any reforms at an agency that is losing money.

DEMS HIT HOUSE REPUBLICAN FOR DENYING USPS DELAYS

White House Chief of Staff Mark Meadows said Trump “at no time has instructed or directed the Post Office to cut back on overtime, or any other operational decision that would slow things down.” He said the process of removing blue mail boxes and sorting machines started back in 2011 and the Postal Service has “more than enough money in the bank account.”

White House Chief of Staff Mark Meadows

The vote Saturday, sandwiched between the Democratic and GOP conventions, got heated at times on the House floor.

Rep. Stephen Lynch, D-Mass., said American democracy is more endangered now than during the Sept. 11 terrorist attacks because the country is more divided and the threat is coming from within.

WHITE HOUSE ISSUES VETO THREAT TO $25B USPS FUNDING BILL

“Today the greatest threat to our democracy is the current administration,” Lynch said of the Trump White House.

Rep. Jody Hice, R-Ga., shot back that Democrats are doing the damage to America. “The greatest threat to democracy in the country is the current majority in the House of Representatives,” he said.

House Speaker Nancy Pelosi, D-Calif., urged Senate Majority Leader Mitch McConnell, R-Ky., to respond to constituents’ concerns on mail delays and take up the bill.

“Public sentiment is everything,” Pelosi said. “They’ll be hearing from their constituents because this hits home. Not receiving your mail in a timely fashion hits home. Not receiving your prescriptions, especially for our veterans, hits home in a way that is harmful to our country.”

The 26 Republicans who joined with Democrats to approve the $25 billion funding bill were: Nebraska Reps. Don Bacon and Jeff Fortenberry; Ohio Reps. Troy Balderson, Steve Stivers, David Joyce and Mike Turner; Illinois Reps. Michael Bost and Rodney Davis; Rep. Vern Buchanan of Florida, Missouri Reps. Sam Graves and Ann Wagner; Rep. Brian Fitzpatrick of Pennsylvania; Rep. Jaime Herrera Beutler of Washington; Texas Reps. Will Hurd and Michael McCaul; Michigan Rep. Fred Upton, New Jersey Reps. Jeff Van Drew and Chris Smith; New York Reps. John Katko, Peter King, Elise Stefanik and Tom Reed; Rep. Doug LaMalfa of California; Rep. David McKinley of West Virginia; Rep. Pete Stauber of Minnesota and Rep. Don Young of Alaska.

#emergency #funding #house #passes #postal #service #white #Politics

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andrewuttaro · 5 years ago

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New Look Sabres: GM 8 - LAK - Stats Class

How much would you give for the Sabres to win a Stanley Cup? The list goes pretty far for me stopping only once you get to some basic human needs and fundamental decency. I’d trade the Buffalo Bills for four of them. I think that’s a fair price for giving up an NFL team, that league sucks ass mightily. The Kings sold it all away for their two Stanley Cups. It’s hard to imagine the City of Los Angeles being a snake-bitten hockey market but before 2012 they were one of those first wave expansion teams who had come close again and again to never actually do the thing. It changed quickly and for most of the early years of this decade they were right up there with Chicago as the class of this league. That whole arrangement is no more. The players that won those Cups are eroding off the roster save for an unmovable few. If you win the Cup, even once, you did it. You’re allowed to be terrible for what… ten years afterward? They sank a lot of assets into those runs and it paid off. And though the dynasty team maybe eroding away that “killer instinct”, that never-say-die attitude, still echoes off the ice. It did last night against the Buffalo Sabres. We might look back on this game as just a record 47-save shutout for Carter Hutton or a record back-to-back plus forty save shutout for him; but this game was not what the score shows. LA never fighting in this game and the Sabres got some luck from the posts. Maybe this team learned something last night. In a tired win against a rested squad perhaps they learned you have to keep coming back, you got to cash in your opportunities or even games you should win will not go your way. The Sabres were not punished for their mistakes last night and they take two points from this one, but they have to be thinking about how the massive Kings counterattack nearly ruined it on multiple occasions. The frequency of occasions this game could’ve gotten away from them was a relative stats class on how to not protect a lead. Nonetheless they did. This was a silly shutout but those count all the same. We’ll talk about some advanced stats that show our Sabres lost their hold on it but at the end of the day the only stat that matters is the score and Buffalo won in that category 3-0.

Casey Mittelstadt was snake-bitten, at least in the goal scoring department. The eternal child looked absolutely elated to get the no goals monkey off his back. Jimmy Greasy Vesey similarly finally got on the scoresheet with an assist on the first goal of this game. The two were streaming into the zone… I don’t know… medium speed (?) and Vesey got the puck to Mittelstadt who sniped it home through a defender and Kings goalie Jake Campbell. You could see the relief both of them had with the outcome of that play. That goal came 2:36 into the game while a little over two minutes late at 5:20 into the first the visitors got their second goal of the game. This time Conor Sheary is getting Casey Mittelstadt into the zone at a faster rate of speed and receives the puck from the boy wonder to quick-fire a puck past Campbell. Campbell must have thought Mittelstadt was going to take the shot. 2-0 Sabres and we’re not even ten minutes into this game yet. As awesome as that was I may regret staying up for this game. The Kings are like if Jurassic Park was real. Yes, they have the killer instinct and the never-say-die attitude still that I mentioned earlier, but like a lot of dinosaurs they’re kind of slow and unwieldy. I’m not kidding when I say that 1-0 goal looked like it was in slow motion. Such a speed-of-smell team is then the perfect foil for a very hot Buffalo Sabres powerplay. After we were already up 2-0 the PP opportunity just absolutely grinded to a halt. There was not a shot on the Kings goal during the full two minutes. That first period powerplay was something microcosm of this game: the Sabres getting only non-dangerous token chances but the Kings just not being able to convert when they got the chance. In this whole first period the Sabres managed only 7 shots scoring on two of them while the Kings shot 11 times.

If you were watching this game as a fan of neither team for some reason the second period was probably the most interesting. As the period goes on the Buffalo Sabres are just caved in in terms of corsi by the LA Kings. I am not smart guy either, so I have been training myself in the ways of this sensei called Corsi for a couple years now. Corsi is an attempt to make a stat about shot differential that makes sense. The guy who invented it, Tim Barnes, was actually inspired to do so after listening to former Buffalo Sabres General Manager Darcy Regier talk so much about shots. Barnes wanted to name it the Regier number or the Ruff number for then-Sabres Coach Lindy Ruff, but both didn’t sound right to him. If he hadn’t been going by a fake name himself he should’ve called the stat Cellino because what combination of names would pay better homage to Western New York than Cellino and Barnes? *Ba dum tis* See what I did there? Anyway, Corsi includes shots on goal, missed shots on goal and blocked shot attempts. In effect it’s how much your team is actually getting puck to the opposition net to put it another way. That also why it breaks down to several sub-categories like 5 on 5 corsi or corsi for and against but I’m already starting to confuse myself here. Feel free to correct me on that description, Chad. By the time the second period is nearing an end the Kings’ corsi is +25 to Buffalo’s -25. The statistical lopsidedness of this game only grew as the game went on. And here’s the thing: the Kings were getting chances galore. Marco Scandella is having a bounce back season so far, but he delivered a goal on a silver platter Ilya Kovalchuk in the second when he squirts the puck (#SabresAfterDark) out from a puck battle behind the Buffalo net to nobody on his team. Kovalchuk was right there, got the puck one-on-one with Carter Hutton at just about point blank with no Sabres defender nearby and fired it wide. They call Alex Ovechkin the Russian machine that never breaks, Ilya Kovalchuk is the Russian machine that broke before the last lockout. Anze Kopitar got a chance earlier where he out-maneuvered Hutton in front but the Sabres’ goaltender’s skate stopped the goal. It’s more or less miraculous the Kings didn’t score through the middle period. You know who did? Yea, Casey Mittelstadt again. LOL.

Our favorite broken Russian machine cross-checked Rasmus Ristolainen and sent the visitors off to a powerplay. Ristolainen then collected a rebound and shot it in Casey’s direction where he was parked in front of the net. Campbell once again failed to track the puck and it ended up in the net behind him. At first it wasn’t clear if Mittelstadt touched the puck at all or if it went in off Kings defender Alec Martinez, but it was credited to Casey. Y’all have two Cups this decade, you don’t get to be upset. And so Mittelstadt was on the Hat trick hunt but because of the aforementioned growing statistical lopsidedness of this game that third Casey goal never came. The third period was wild. I’m told it was at least because admittedly I was in and out of consciousness. I’m no party boy and am no good after midnight. There was only one powerplay and no goals or other big game events in the final frame other than Buffalo holding on for dear life so let’s talk about another advanced stat. This one is a bit easier to wrap your head around then corsi: Expected Goals (xG). Think of expected goals as a combination of various danger-levels of shots on net plus goalie stats mixed in for some flavor. The name is almost self-explanatory, but this stat is literally how many goals should be scored if there was no luck and randomness in the game. Imagine only robots played hockey. If they were flawless robots who didn’t get malfunctions of any kind they would always meet the expected goals statistic. This game is played by humans though, so this stat often shows just how much a team overcomes to get a result. This stat is also often the base stat for all those fun heat maps the nerdiest of stats nerds feel the need to post without any explanation what we’re looking at. The software Chad DeDominicis uses plots it out rather well if you ask me. He tweeted a map of the expected goals and scoring chances for the third period and let me just say Wow. There are a lot of big, scary Kings circles representing high-danger chances right in front of the Sabres net while not so many large circles for Buffalo in front of the Kings net. Though the Sabres won this game 3-0 they were outshot… wait for it… 47 to 24. That’s a record-breaking shutout for Carter Hutton and an opposition outshooting us more than 2 to 1. But hey, we won.

Jimmy Vesey had a pretty decent game for once. I heard his voice for the first time in that interview with Rob Ray in the first intermission. Speaking of people who had a good game, Rob Ray was 100% Rob Ray for this game. He had funny walk up skit in the pregame and fumbled through the aforementioned interview like a champ. We should all have a conversation about Rob Ray at some point about whether we’ve turned him into a self-referential joke about hockey culture but that’s for another day. I brought this postgame to Stats Class, the class I hated the most in undergrad mind you, because this game is pulled straight from the Sabres win streak of last season. They were jobbed statistically and apart from coming back from behind late in the game they exhibited every quality of our fun but ill-fated Fall folly last year. I don’t want to think this is what undergirds the Sabres torrid start and statistically speaking the other wins so far this season show progress and sustainability. I’m all for my club getting shutouts but not like this. I don’t think I can do New Look Sabres reply guy tweet of the game today. By the time Sabres twitter was engaged in this game it was a little too late for quippy tweets, maybe Sunday night when I postgame the Sharks game. For now like, share and comment on this blog to help out. I’ll admit I was totally wrong that they would powerbomb the Kings from lower-earth orbit. I’ll be honest I just like saying that phrase. Here’s a question you could answer in your comment on this blog: What do we think of our first back-to-back of the season? Did it actually effect either game or was it not notable in any meaningful way? Now it’s Evander Kane and the San Jose Sharks on Saturday night to wrap up #SabresInCali. I suspect I’ll be #AndrewInBed before the final horn sounds on that one.

Thanks for Reading.

P.S. I’m fully out of steam on the #SabresAfterDark front. I think I peaked with challenge the goal, daddy.

#buffalo sabres #hockey #blog #nhl #LA Kings

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designmeblogss · 5 years ago

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Casino Reinvestment and Expansion

The Proper Care & Feeding of the Golden Goose

Under the new paradigm of declining economic conditions across a broad spectrum of consumer spending, casinos face a unique challenge in addressing how they both maintain profitability while also remaining competitive Bitcoin Casino List. These factors are further complicated within the commercial gaming sector with increasing tax rates, and within the Indian gaming sector by self imposed contributions to tribal general funds, and/or per capita distributions, in addition to a growing trend in state imposed fees.

Cooked Goose

Establishing Priorities

There are three essential areas of capital allocation that should be considered, as shown below and in order of priority.

1. Maintenance and Replacement 2. Cost Savings 3. Revenue Enhancement/Growth

Maintenance & Replacement

Cost Savings

Leveraging is the key catalyst of any revenue enhancing/growth related investment. It includes the following:

o Patronage Base o Available Funds o Lands o Marketing Clout o Management Experience

Master Planning

The Big Picture

Occasion Segmentation

Demand Density

Amenity Driven Markets

Program Development

Impact Criteria

Upgrading/Expansion

Food & Beverage Amenities

Lodging Elements

Retail/Outlet Shops

Entertainment

Recreational Facilities

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silviajburke · 8 years ago

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Our Hopelessly Dysfunctional Democracy

This post Our Hopelessly Dysfunctional Democracy appeared first on Daily Reckoning.

The country faces profound political disunity, a concept I learned from historian Michael Grant, whose slim but insightful volume The Fall of the Roman Empire I have been recommending since 2009.

As I noted in my 2009 book Survival+, this was a key feature of the Roman Empire in its final slide to collapse.

The shared values and consensus which had held the Empire’s core together dissolved, leaving petty fiefdoms to war among themselves for what power and swag remained.

A funny thing happens when a nation allows itself to be ruled by Imperial kleptocrats: such rule is intrinsically destabilizing, as there is no longer any moral or political center to bind the nation together.

The public sees the value system at the top is maximize my personal profit by whatever means are available, i.e. complicity, corruption, monopoly and rentier rackets, and they follow suit by pursuing whatever petty frauds and rackets are within reach: tax avoidance, cheating on entrance exams, gaming the disability system, lying on mortgage and job applications, and so on.

But the scope of the rentier rackets is so large, the bottom 95% cannot possibly keep up with the expanding wealth and income of the top .1% and their army of technocrats and enablers, so a rising sense of injustice widens the already yawning fissures in the body politic.

Meanwhile, diverting the national income into a few power centers is also destabilizing, as Central Planning and Market Manipulation (a.k.a. the Federal Reserve) are intrinsically unstable as price can no longer be discovered by unfettered markets.

As a result, imbalances grow until some seemingly tiny incident or disruption triggers a cascading collapse, a.k.a. a phase shift or system re-set.

As the Power Elites squabble over the dwindling crumbs left by the various rentier rackets, there’s no one left to fight for the national interest because the entire Status Quo of self-interested fiefdoms and cartels has been co-opted and is now wedded to the Imperial Oligarchy as their guarantor of financial security.

When the system is rigged, “democracy” is just another public-relations screen to mask the unsavory reality of Oligarchy.

Democracy in America has become a hollow shell.

The conventional markers of democracy — elections and elected representatives — exist, but they are mere facades; the mechanisms of setting the course of the nation are corrupt, and the power lies outside the public’s reach.

History has shown that democratic elections don’t guarantee an uncorrupt, functional government. Rather, democracy has become the public-relations stamp of approval for corrupt governance that runs roughshod over individual liberty while centralizing the power to enforce consent, silence critics and maintain the status quo.

If the citizenry cannot replace a dysfunctional government and/or limit the power of the financial Aristocracy at the ballot box, the nation is a democracy in name only.

In other words, if the citizenry changes the elected representation but the financial Aristocracy and the Deep State remain in charge, then the democracy is nothing but a PR facade for an oppressive oligarchy.

If the erosion of civil liberties and rising inequality characterize the state of the nation, democracy is both dysfunctional and illiberal. A state that strips away the civil liberties of its citizens via civil forfeiture, a war-on-drugs Gulag and unlimited surveillance may be a democracy in name, but it is at heart an oppressive oligarchy.

If the super-wealthy continue to become ever wealthier while the bottom 95% of the citizenry struggle in various stages of debt-serfdom, the state may be a democracy in name, but it is at heart an oppressive oligarchy.

Author/commentator Fareed Zakaria recently addressed the illiberal aspects of America’s faded democracy in an article “America’s democracy has become illiberal.”

Zakar’s prettified critique avoided the real worm at the heart of our democracy: the state exists to enforce cartels. Some might be private, some might be state-run, and others might be hybrids, such as our failed Sickcare system and our military industrial complex.

The ultimate role of democracy isn’t to “give the people a voice;” the only meaningful role of democracy is to protect the liberties of individuals from state encroachment, break up cartels and monopolies and limit the corruption of private/public money.

America’s democracy has failed on all counts.

Civil liberties in a nation of ubiquitous central-state surveillance, a quasi-political Gulag (that nickel bag will earn you a tenner in America’s drug-war Gulag) and civil forfeiture (we suspect you’re up to no good, so we have the right to steal your car and cash) are eroding fast.

In America, the central government’s primary job is enforcing and funding cartels. A mere $10 million in lobbying, revolving-door graft (getting paid $250,000 for a speech or for a couple of board meetings) and bribes (cough-cough, I mean campaign contributions) can secure $100 million in profits — either by erecting regulatory/legal barriers or by direct federal funding of the cartel’s racket (healthcare, defense, “National Security,” etc.).

The fact that the corruption is veiled does not mean it isn’t corruption. In the sort of nations Americans mock as fake democracies, the wealthy protect their wealth and incomes with bags of cash delivered at night to politicians.

In theory, democracy enables advocacy by a variety of groups in order to reach a consensual solution to problems shared by everyone. In practice, the advocacy is limited to a select group of insiders, donors and the various fronts of the wealthy: foundations, think-tanks, lobbyists, etc.

Does anyone think America’s democracy is still capable of solving the truly major long-term problems threatening the nation? Based on what evidence?

What we see is a corrupt machine of governance that kicks every can down the road rather than suffer the blowback of honestly facing problems that will require deep sacrifices and changes in the status quo.

We see a dysfunctional machine of governance that changes the name of legislation and proposes policy tweaks, while leaving the rapacious cartels untouched. (See the current sickcare “debate” for examples.)

We see an Imperial Project setting the state’s agenda to suit its own desires, and a corporate media that is quivering with rage now that the public no longer believes its tainted swill of “news” and “reporting.”

The divide between the haves and the have-nots is not limited to money — it’s also widening between the few with political power and the teeming serfs with effectively zero political power.

When the system is rigged, “democracy” is just another public-relations screen to mask the unsavory reality of oligarchy.

Regards,

Charles Hugh Smith for The Daily Reckoning

The post Our Hopelessly Dysfunctional Democracy appeared first on Daily Reckoning.

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eromart · 5 years ago

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anandjayam-blog · 8 years ago

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pets-are-a-blessing-and-a-c-blog · 4 years ago

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Casino Reinvestment and Expansion

The Proper Care & Feeding of the Golden Goose

Cooked Goose

How a casino enterprise decides to allocate its Click here profits is a critical element in determining its long-term viability, and should be an integral aspect of the initial development strategy. While short term loan amortization/debt prepayment programs may at first seem desirable so as to quickly come out from under the obligation, they can also sharply reduce the ability to reinvest/expand on a timely basis. This is also true for any profit distribution, whether to investors or in the case of Indian gaming projects, distributions to a tribe's general fund for infrastructure/per capita payments.

Establishing Priorities

There are three essential areas of capital allocation that should be considered, as shown below and in order of priority.

1. Maintenance and Replacement 2. Cost Savings 3. Revenue Enhancement/Growth

Maintenance & Replacement

Cost Savings

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internetbloga · 4 years ago

Text

Casino Reinvestment and Expansion

The Proper Care & Feeding of the Golden GooseUnder the new paradigm of declining economic conditions across a broad spectrum of consumer spending, casinos face a unique challenge in addressing how they both maintain profitability while also remaining competitive. These factors are further complicated within the commercial gaming sector with increasing tax rates, and within the Indian gaming sector by self imposed contributions to tribal general funds, and/or per capita distributions, in addition to a growing trend in state imposed fees.Determining how much to "render unto Caesar," while reserving the requisite funds to maintain market share, grow market penetration and improve profitability, is a daunting task that must be well planned and executed. http://mibcreations.com/It is within this context and the author's perspective that includes time and grade hands-on experience in the development and management of these types of investments, that this article relates ways in which to plan and prioritize a casino reinvestment strategy.Cooked GooseAlthough it would seem axiomatic not to cook the goose that lays the golden eggs, it is amazing how little thought is oft times given to its on-going proper care and feeding. With the advent of a new casino, developers/tribal councils, investors & financiers are rightfully anxious to reap the rewards and there is a tendency not to allocate a sufficient amount of the profits towards asset maintenance & enhancement. Thereby begging the question of just how much of the profits should be allocated to reinvestment, and towards what goals.Inasmuch as each project has its own particular set of circumstances, there are no hard and fast rules. For the most part, many of the major commercial casino operators do not distribute net profits as dividends to their stockholders, but rather reinvest them in improvements to their existing venues while also seeking new locations. Some of these programs are also funded through additional debt instruments and/or equity stock offerings. The lowered tax rates on corporate dividends will likely shift the emphasis of these financing methods, while still maintaining the core business prudence of on-going reinvestment.Profit AllocationAs a group, and prior to the current economic conditions, the publicly held companies had a net profit ratio (earnings before income taxes & depreciation) that averages 25% of income after deduction of the gross revenue taxes and interest payments. On average, almost two thirds of the remaining profits are utilized for reinvestment and asset replacement.Casino operations in low gross gaming tax rate jurisdictions are more readily able to reinvest in their properties, thereby further enhancing revenues that will eventually benefit the tax base. New Jersey is a good example, as it mandates certain reinvestment allocations, as a revenue stimulant. Other states, such as Illinois and Indiana with higher effective rates, run the risk of reducing reinvestment that may eventually erode the ability of the casinos to grow market demand penetrations, especially as neighboring states become more competitive. Moreover, effective management can generate higher available profit for reinvestment, stemming from both efficient operations and favorable borrowing & equity offerings.How a casino enterprise decides to allocate its casino profits is a critical element in determining its long-term viability, and should be an integral aspect of the initial development strategy. While short term loan amortization/debt prepayment programs may at first seem desirable so as to quickly come out from under the obligation, they can also sharply reduce the ability to reinvest/expand on a timely basis. This is also true for any profit distribution, whether to investors or in the case of Indian gaming projects, distributions to a tribe's general fund for infrastructure/per capita payments.Moreover, many lenders make the mistake of requiring excessive debt service reserves and place restrictions on reinvestment or further leverage which can seriously limit a given project's ability to maintain its competitiveness and/or meet available opportunities.Whereas we are not advocating that all profits be plowed-back into the operation, we are encouraging the consideration of an allocation program that takes into account the "real" costs of maintaining the asset and maximizing its impact.Establishing PrioritiesThere are three essential areas of capital allocation that should be considered, as shown below and in order of priority.1. Maintenance and Replacement2. Cost Savings3. Revenue Enhancement/GrowthThe first two priorities are easy enough to appreciate, in that they have a direct affect on maintaining market positioning and improving profitability, whereas, the third is somewhat problematical in that it has more of an indirect affect that requires an understanding of the market dynamics and greater investment risk. All aspects that are herewith further discussed.Maintenance & ReplacementMaintenance & Replacement provisions should be a regular function of the casino's annual budget, which represents a fixed reserve based on the projected replacement costs of furniture, fixture, equipment, building, systems and landscaping. Too often however we see annual wish lists that bear no relationship to the actual wear & tear of these items. It is therefore important to actually schedule the replacement cycle, allocating funds that do not necessarily have to actually be incurred in the year of accrual. During a start-up period it may not seem necessary to spend any money on replacement of brand new assets, however by accruing amounts to be reserved for their eventual recycling will avoid having to scurry for the funds when they are most needed.One area of special consideration is slot machines, whose replacement cycle has been shortening of late, as newer games & technologies are developing at a much higher rate, and as the competition dictates.Cost SavingsInvestment in cost savings programs & systems are, by their very nature and if adequately researched a less risky use of profit allocation funding then almost any other investment. These items can often take the form of new energy saving systems, labor saving products, more efficient purchasing intermediation, and interest reductions.These items have their caveats, one of which is to thoroughly analyze their touted savings against your own particular application, as often times the product claims are exaggerated. Lease buy-outs and long term debt prepayments can sometimes be advantageous, especially when the obligations were entered into during the development stage when equity funds may have been limited. In these cases it is important to look at this strategy's net effect on the bottom line, in comparison with alternative uses of the monies for revenue enhancing/growth investments.One recent trend is the growing popularity of cash-less slot systems, which not only provide labor savings for fills, counts and hand-pays, but also serve as an aid to patrons who do not like to lug around those cumbersome coin buckets, while also encouraging multiple game usage.Revenue Enhancing & GrowthLeveraging is the key catalyst of any revenue enhancing/growth related investment. It includes the following:o Patronage Baseo Available Fundso Landso Marketing Clouto Management ExperienceThe principal is to leverage the use of the available asset towards achieving higher revenues & profitability. Typical examples include increasing average patronage base spending and widening the effective trading radius, by offering additional products/services, such as retail stores, entertainment alternatives, recreational/leisure amenities, overnight accommodations, more restaurant choices, and of course, expanded gaming.Master PlanningAnticipation of potential growth and expansion should be fully integrated into the project's initial master planning so as it assure cohesive integration of the possible elements in a phased-in program, while also allowing for the least amount of operational interruption. Unfortunately, it's not always possible to anticipate market changes, so expansion alternatives must be carefully considered.The Big PictureBefore embarking on any type of expansion and/or enhancement program we strongly recommend first stepping back and assessing the property's present positioning relative to the market and competitive environment. As we have observed in numerous gaming jurisdictions around the country, often casino ventures that have been operating "fat and happy" for a few years, find themselves in a zero-growth period. Sometimes this is due to competition stemming from either/both new local area casinos or regional venues that have the affect of reducing patronage from peripheral area markets. Additionally, the current customer base may become bored with their experience and are seeking greener pastures. The historical growth of the Las Vegas strip is testament to the success of continually "reinventing" oneself.Our approach to these market studies is initially focused on determining the degree to which the current facility is penetrating the potential market and in relationship to any competitive market shares. Typically, this represents an analysis of the current patronage base in terms of information gleaned from the player tracking data base, and mailing lists, coupled with day-part, daily, weekly, monthly and seasonal revenue trends.This data is then interfaced with an assessment of the overall market potential to indicate the extent to which certain market segments are utilizing the facility and the needs it is fulfilling. More importantly however, is that this type of analysis will indicate those market segments that are not utilizing the facility more fully, and why.Occasion SegmentationAs our proprietary studies have indicated, casino markets are segmented by various characteristics of occasioned-use that also include typical spending & visitation patterns. The traditional methods of market measurements, including gravity models, usually only weigh the demographic characteristics of a given population, based on revenues achieved in similar markets. However, an occasion segmentation market analysis reveals more detailed information as to the reasons precipitating a casino visit, how they relate to the benefits being sought, and the degree to which the occasion determines average spending and visitation frequency. This type of data mining is far more helpful than gravity modeling, in that it can help determine the type of facilities and positioning strategies necessary to attract each market segment, by measuring their relative contribution to the aggregate potential. The process has been successfully employed in the restaurant business and other leisure time service industries, especially amid a widening supply/demand marketplace.Perhaps even more importantly, looking at the market from an occasioned-use perspective, reveals the extent and characteristics of the underling competition, that, in many cases not only include other casinos, but also alternative entertainment and leisure time activities, such as restaurants, clubs, theaters, and the like.Demand DensityAnother important aspect of occasion segmentation is in measuring overall market characteristics by day-parts, which is revenue density by time of day, day per week, weekly, monthly, and seasonally. This is especially important data when casino venues are seeking to lessen any higher than normal fluctuations that may be occurring between a slow Monday morning and a packed Saturday night; or that experience severe seasonal variations.By segmenting markets by their demand patterns, a better understanding can be gained of which amenities may help bolster the weak demand periods, and those that may only add to the already maximized peaks.Many expansion programs often make the mistake of configuring additional amenities such as high-end restaurants and lodging elements based on the peak demand periods. As a result, the net effect of costs & expenses for these investments can negate any contribution they may make to increased gaming revenues. Rather, "fill-in" markets are the most efficient means to increase overall revenues, as they utilize existing capacities. Las Vegas has achieved great success in creating strong mid-week activity through promotion of its extensive conference/convention facilities.Amenity Driven MarketsAnother benefit of utilizing occasion-segmentation is its ability to also indicate the potential impact certain amenities have on "impelling" visitation. While gravity models examine the casino related spending characteristics of a given market area, the formulas cannot measure the relative impact of any non-gaming driven activities that could nonetheless generate casino traffic.Important data relating to the population's occasioned-use of restaurant, entertainment, and weekend getaways can often form the basis on which to focus amenities designed to cater to these markets; and by so doing, increase visitation. Whereas many of these patrons may or may not utilize the casino, their exposure to the opportunity may hasten their use, while also creating an additional profit center.Again, looking to the Las Vegas paradigm, more and more of the strip properties are now generating as much, if not more, non-gaming revenues than gaming revenues; as their hotels and restaurants are less & less subsidized, and along with their growing retail elements, represent strong contributors to the bottom line.Program DevelopmentOnce equipped with a basic understanding of the market dynamics, both in terms of the existing facility's current market shares/penetration rates in relationship to the competitive mix, and the overall occasioned-use of the market, a matrix can be created that sets the demand against the supply. This function seeks to identify areas of un-met demand opportunities and/or over supply, that forms the spring-board to the creation of relevant amenities, expansion and upgrade criteria & strategies.Impact CriteriaEssentially there are two types of expansion/upgrade strategies: subsidized and profit-centers. Subsidized elements may include adding and/or improving amenities that will further widen current gaming market penetration/shares, thusly having a direct impact on growing casino revenues; while profit centers are designed to further leverage current patronage patterns with additional spending opportunities, and having an in-direct effect on gaming activity. Although many of the more traditional amenities, such as restaurants, hotels, retail shops, entertainment venues and recreational facilities can fall into one or both of these categories, its important to make the distinction, so as to clearly establish the design/development criteria.Upgrading/ExpansionAs has been previously discussed, Las Vegas continually seeks to reinvent itself as a means to increase repeat visitation, that in itself creates a snowballing affect as each venue must keep-up with its neighbor. To some extent upgrading programs, that may include creating a new and fresher look, is a lot like an insurance policy against slipping revenues, and do not necessarily relate to any incremental growth per se. Not to be mistaken for replacement programs of worn carpeting and slot machine recycling, an upgrade program should seek to create new excitement about the facility in terms of ambiance, quality of finishes, layouts, and overall décor.Expansion of existing capacity is less a function of market analysis and more a function of "making hay while the sun shines," based on a thorough understanding of the visitation pattern densities. Patron back-ups for gaming positions and restaurant tables can be both good and bad, depending on when they occur and how often. High per position per day net win averages are not always a sign of a prospering casino, as they could also mean lost opportunity because of an insufficient number of games. Conversely, additional positions are not always going to generate the same averages.When initially configuring capacities for a new facility, it is important to fully evaluate the demand patterns into their respective day-part components that will maximize penetration during the peak periods while minimizing inefficiency - the point where the costs associated with additional capacity is exceeded by its net income potential.Food & Beverage AmenitiesWithin most casino venues, restaurant amenities are "loss leaders," designed to retain & attract casino patrons with low prices and great value; yet they have the ability to both widen occasioned-use of the casino, while also representing potential profit centers.In Nevada, which is the only state where detailed historical F&B departmental operating results are available for casinos, properties with gaming revenues averaging between $20M to $200M showed food operations having a net departmental loss of 1.5% of sales in 2001, versus almost a 14% loss in 1995.Much of this major turnaround is due to the growth in the number of food outlets, especially more upscale/specialty restaurants, which has spurred sales from 20% of gaming revenue in 1995 to almost 27% in 2001. Moreover, food costs have been reduced sharply from 45% in 1995 to 35% in '01.As the previous discussion on occasion-segmentation revealed, a consumer's choice of a casino visit can sometimes compete with other entertainment/leisure time activities, including dining out. Having a market relevant restaurant facility within the casino can serve to attract the dining-out destination market, with the casino benefiting from its proximity. Therefore when market conditions indicate changes in a casino's restaurant configuration, the questions to be addressed are how can they be designed to satisfy the current patronage base, widen occasioned-use, and improve profitability.Lodging ElementsWith turnkey hotel development costs ranging between $75K to $350K per available room, a market positioning strategy had better be well studied. Yet we see many such projects undertaken with little understanding of the market dynamics and economic impact.Nationwide, according to our most recent survey, there are 724 casinos around the country; comprised of 442 commercial operations, about half of which are located in Nevada, and 282 Indian gaming venues, of which 209 offer most, if not all, of Las Vegas type (Class III) games. Roundly 58% of casinos in the commercial gaming sector have co-located hotels, compared with 37% of Class III Indian gaming venues, despite their containing a similar average number of games.The high preponderance of hotels within the commercial sector owes to some gaming jurisdictions requiring them; including Nevada (for an unrestricted license) and New Jersey. Moreover, much of the Nevada market demand stems from beyond a daytrip radius, making overnight accommodations necessary in order to gain market share. When extrapolating these states from the total, the percentage of all commercial casinos with hotels drops to 50%, with an average of 312 rooms & 1,183 games.The obvious advantages of casino lodging units is their ability to attract gaming markets from beyond the typical day trip radius, while also having a somewhat "captured" market (Casinos with Hotels). Moreover, guest rooms can be another perk-use for player club points. Hotels also widen a casino's occasioned-use by offering non-gaming leisure activities & amenities, augmented by the ready availability of gaming, while also representing another profit center (Hotels with Casinos). Additionally, within a traditional lodging setting, a casino/hotel has a competitive advantage by virtue of its added entertainment features.Among the major Las Vegas properties there are more hotel rooms than games, as the city transits from a gaming destination to more of a resort & convention destination. In so doing these properties increased their hotel profitability and investment returns by not having to offer low rates to attract gamers. Whereas, some areas such as Laughlin and Reno, which do not enjoy the critical mass of a Las Vegas, still find it necessary to supplement their hotel investment with casino revenue, due to low room rates and large seasonal visitation fluctuationsIn configuring a casino hotel development it is therefore important to understand the market and financial dynamics and their impact on overall gaming revenue and profits. Within the free-standing (non-casino) hotel industry, financing terms are usually over a 15 to 20 year amortization schedule with a ten year balloon/refinance, and have a break even point that approaches 65% to 70% occupancy. Typical casino based lodging elements enjoy high occupancy levels on the weekends, but low levels weekday. It is therefore incumbent not to "build a church for Easter Sunday," keeping in mind the overall efficient use of the asset.Moreover, if the intent is to attract additional casino patronage from a wider market radius, it is important to evaluate the cost of any hotel subsidy versus the potential increase in gaming profits. A new 200 room hotel at a casino already generating 20,000 weekend visitors, may only be adding 2% to 4% more players, while exposing itself to higher costs. In regards to occasioned-use, especially among tourists and weekenders, casino hotels may also be competing with alternative resorts in the region.Ideally, these types of facilities, when not situated in markets with insufficient local/day-trip markets (e.g. Laughlin), should be configured on the basis of their non-gaming related and off-peak period support so as to maintain relevant room rates and adequate levels of profitability. They should also include those amenities these markets are seeking, including, where applicable: conference and convention facilities, and indoor/outdoor recreational elements.Albeit more of a niche market, RV Park facilities are a less intensive investment in overnight lodging facilities that can nonetheless offer some of the same benefits. According to the latest data, there are more than 9 million households in the United States that own RVs, and represent one of every ten vehicle owning households. Many of these households include the 55 & over age groups, who have a higher than average gaming propensity and annual income.RV Park development costs are well below those for hotels, but usually have a high seasonal use, peaking during the summer months in temperate resort environs and in the winter months in the "snowbird" areas.

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casinopartner101-blog · 5 years ago

Text

Casino Reinvestment and Expansion

Adequate Care & Feeding of the Golden Goose Under the new paradigm of declining economic conditions across a broad selection of consumer spending, casinos face a unique challenge in addressing how they both maintain profitability while also continuing to be competitive. These factors are further complicated within the commercial gaming sector with increasing tax rates, and inside Indian gaming sector by self imposed contributions to tribal general funds, and/or per capita distributions, and a growing trend in state imposed fees. Determining how much to "render unto Caesar, " while reserving the actual requisite funds to maintain market share, grow market penetration and improve profitability, is a daunting task that must be properly planned and executed. It is within this context and the author's perspective that includes time and grade hands-on experience with the development and management of these types of investments, that this article relates ways in which to plan and prioritize a internet 비타임 reinvestment strategy. Cooked Goose Although it would seem axiomatic not to cook the goose that lays the golden offspring, it is amazing how little thought is oft times given to its on-going proper care and feeding. With the advancement of a new casino, developers/tribal councils, investors & financiers are rightfully anxious to reap the rewards along with there is a tendency not to allocate a sufficient amount of the profits towards asset maintenance & enhancement. Thereby begging the question involving just how much of the profits should be allocated to reinvestment, and towards what goals. Inasmuch as each project has its very own particular set of circumstances, there are no hard and fast rules. For the most part, many of the major commercial casino operators do not distribute world-wide-web profits as dividends to their stockholders, but rather reinvest them in improvements to their existing venues while also trying to get new locations. Some of these programs are also funded through additional debt instruments and/or equity stock offerings. The a lower tax rates on corporate dividends will likely shift the emphasis of these financing methods, while still maintaining any core business prudence of on-going reinvestment. Profit Allocation As a group, and prior to the current economic conditions, the particular publicly held companies had a net profit ratio (earnings before income taxes & depreciation) that averages 25% of income after deduction of the gross revenue taxes and interest payments. On average, almost two thirds with the remaining profits are utilized for reinvestment and asset replacement. Casino operations in low gross gaming tax charge jurisdictions are more readily able to reinvest in their properties, thereby further enhancing revenues that will eventually benefit the overtax base. New Jersey is a good example, as it mandates certain reinvestment allocations, as a revenue stimulant. Other states, such as Il and Indiana with higher effective rates, run the risk of reducing reinvestment that may eventually erode the ability for the casinos to grow market demand penetrations, especially as neighboring states become more competitive. Moreover, effective management can get higher available profit for reinvestment, stemming from both efficient operations and favorable borrowing & equity promotions. How a casino enterprise decides to allocate its casino profits is a critical element in determining its long-term viability, and should be an integral aspect of the initial development strategy. While short term loan amortization/debt prepayment programs may at first sound desirable so as to quickly come out from under the obligation, they can also sharply reduce the ability to reinvest/expand on a timely rationale. This is also true for any profit distribution, whether to investors or in the case of Indian gaming projects, distributions to a tribe's standard fund for infrastructure/per capita payments. Moreover, many lenders make the mistake of requiring excessive debt product reserves and place restrictions on reinvestment or further leverage which can seriously limit a given project's ability to keep up its competitiveness and/or meet available opportunities. Whereas we are not advocating that all profits be plowed-back into the process, we are encouraging the consideration of an allocation program that takes into account the "real" costs of maintaining the utility and maximizing its impact. Establishing Priorities There are three essential areas of capital allocation that should be considered, as exhibited below and in order of priority. 1 . Maintenance and Replacement 2 . Cost Savings 3. Revenue Enhancement/Growth The first a few priorities are easy enough to appreciate, in that they have a direct affect on maintaining market positioning and improving success, whereas, the third is somewhat problematical in that it has more of an indirect affect that requires an understanding of the market character and greater investment risk. All aspects that are herewith further discussed. Maintenance & Replacement Maintenance & Substitute provisions should be a regular function of the casino's annual budget, which represents a fixed reserve based on the projected replacement fees of furniture, fixture, equipment, building, systems and landscaping. Too often however we see annual wish lists that will bear no relationship to the actual wear & tear of these items. It is therefore important to actually schedule the substitute cycle, allocating funds that do not necessarily have to actually be incurred in the year of accrual. During a start-up span it may not seem necessary to spend any money on replacement of brand new assets, however by accruing amounts to remain reserved for their eventual recycling will avoid having to scurry for the funds when they are most needed. One division of special consideration is slot machines, whose replacement cycle has been shortening of late, as newer games & technologies are generally developing at a much higher rate, and as the competition dictates. Cost Savings Investment in cost savings programs & systems are, as a result of their very nature and if adequately researched a less risky use of profit allocation funding then almost any many other investment. These items can often take the form of new energy saving systems, labor saving products, more efficient purchasing intermediation, and interest reductions. These items have their caveats, one of which is to thoroughly analyze their touted savings with your own particular application, as often times the product claims are exaggerated. Lease buy-outs and long term debt prepayments can occasionally be advantageous, especially when the obligations were entered into during the development stage when equity funds may have been limited. In such cases it is important to look at this strategy's net effect on the bottom line, in comparison with alternative uses of the monies for revenue enhancing/growth investment strategies. One recent trend is the growing popularity of cash-less slot systems, which not only provide labor savings with regard to fills, counts and hand-pays, but also serve as an aid to patrons who do not like to lug around these cumbersome coin buckets, while also encouraging multiple game usage. Revenue Enhancing & Growth Leveraging is the vital catalyst of any revenue enhancing/growth related investment. It includes the following: o Patronage Base o Available Funds u Lands o Marketing Clout o Management Experience The principal is to leverage the use of the available asset towards gaining higher revenues & profitability. Typical examples include increasing average patronage base spending and widening the effective dealing radius, by offering additional products/services, such as retail stores, entertainment alternatives, recreational/leisure amenities, overnight accommodations, more restaurant options, and of course, expanded gaming. Master Planning Anticipation of potential growth and expansion should be fully integrated into the project's initial master planning so as it assure cohesive integration of the possible elements in a phased-in program, while additionally allowing for the least amount of operational interruption. Unfortunately, it's not always possible to anticipate market changes, so expansion options must be carefully considered. The Big Picture Before embarking on any type of expansion and/or enhancement program we strongly recommend primary stepping back and assessing the property's present positioning relative to the market and competitive environment. As we have affecting numerous gaming jurisdictions around the country, often casino ventures that have been operating "fat and happy" for a few years, experience the in a zero-growth period. Sometimes this is due to competition stemming from either/both new local area casinos or regional stores that have the affect of reducing patronage from peripheral area markets. Additionally , the current customer base may become uninterested in their experience and are seeking greener pastures. The historical growth of the Las Vegas strip is testament to the financial success of continually "reinventing" oneself. Our approach to these market studies is initially focused on determining the degree to the fact that current facility is penetrating the potential market and in relationship to any competitive market shares. Generally, this represents an analysis of the current patronage base in terms of information gleaned from the player tracking data bottom part, and mailing lists, coupled with day-part, daily, weekly, monthly and seasonal revenue trends. This data is then interfaced with an assessment of the overall market potential to indicate the extent to which certain market segments are utilizing typically the facility and the needs it is fulfilling. More importantly however , is that this type of analysis will indicate those market sections that are not utilizing the facility more fully, and why. Occasion Segmentation As our proprietary studies get indicated, casino markets are segmented by various characteristics of occasioned-use that also include typical spending & visitation patterns. The traditional methods of market measurements, including gravity models, usually only weigh the demographic characteristics of a offered population, based on revenues achieved in similar markets. However , an occasion segmentation market analysis reveals more detailed information regarding reasons precipitating a casino visit, how they relate to the benefits being sought, and the degree to which the occasion establishes average spending and visitation frequency. This type of data mining is far more helpful than gravity modeling, in that it will help determine the type of facilities and positioning strategies necessary to attract each market segment, by measuring their relative share to the aggregate potential. The process has been successfully employed in the restaurant business and other leisure time service industries, especially among a widening supply/demand marketplace. Perhaps even more importantly, looking at the market from an occasioned-use perspective, reveals the extent and even characteristics of the underling competition, that, in many cases not only include other casinos, but also alternative entertainment and leisure time pursuits, such as restaurants, clubs, theaters, and the like. Demand Density Another important aspect of occasion segmentation is in measuring overall promote characteristics by day-parts, which is revenue density by time of day, day per week, weekly, monthly, and seasonally. This is most definitely important data when casino venues are seeking to lessen any higher than normal fluctuations that may be occurring between a impede Monday morning and a packed Saturday night; or that experience severe seasonal variations. By segmenting markets simply by their demand patterns, a better understanding can be gained of which amenities may help bolster the weak demand periods, and the wonderful that may only add to the already maximized peaks. Many expansion programs often make the mistake of configuring even more amenities such as high-end restaurants and lodging elements based on the peak demand periods. As a result, the net effect of price ranges & expenses for these investments can negate any contribution they may make to increased gaming revenues. Alternatively, "fill-in" markets are the most efficient means to increase overall revenues, as they utilize existing capacities. Las Vegas has achieved terrific success in creating strong mid-week activity through promotion of its extensive conference/convention facilities. Amenity Driven Marketplaces Another benefit of utilizing occasion-segmentation is its ability to also indicate the potential impact certain amenities have with "impelling" visitation. While gravity models examine the casino related spending characteristics of a given market area, the formulas cannot measure the relative impact of any non-gaming driven activities that could nonetheless generate casino potential customers. Important data relating to the population's occasioned-use of restaurant, entertainment, and weekend getaways can often form the basis which to focus amenities designed to cater to these markets; and by so doing, increase visitation. Whereas many of these patrons may well or may not utilize the casino, their exposure to the opportunity may hasten their use, while also creating an additional income center. Again, looking to the Las Vegas paradigm, more and more of the strip properties are now generating as much, if not more, non-gaming gross income than gaming revenues; as their hotels and restaurants are less & less subsidized, and along with their rising retail elements, represent strong contributors to the bottom line. Program Development Once equipped with a basic understanding of the market dynamics, each of those in terms of the existing facility's current market shares/penetration rates in relationship to the competitive mix, and the overall occasioned-use of the industry, a matrix can be created that sets the demand against the supply. This function seeks to identify areas of un-met demand opportunities and/or over supply, that forms the spring-board to the creation of relevant amenities, expansion not to mention upgrade criteria & strategies. Impact Criteria Essentially there are two types of expansion/upgrade strategies: subsidized and profit-centers. Sponsored elements may include adding and/or improving amenities that will further widen current gaming market penetration/shares, thusly having a immediate impact on growing casino revenues; while profit centers are designed to further leverage current patronage patterns with additional having to pay opportunities, and having an in-direct effect on gaming activity. Although many of the more traditional amenities, such as restaurants, lodges, retail shops, entertainment venues and recreational facilities can fall into one or both of these categories, its important to get the distinction, so as to clearly establish the design/development criteria. Upgrading/Expansion As has been previously discussed, Las Vegas continually tries to reinvent itself as a means to increase repeat visitation, that in itself creates a snowballing affect as each locale must keep-up with its neighbor. To some extent upgrading programs, that may include creating a new and fresher look, is a lot like insurance against slipping revenues, and do not necessarily relate to any incremental growth per se. Not to be mistaken for replacement software programs of worn carpeting and slot machine recycling, an upgrade program should seek to create new excitement about the center in terms of ambiance, quality of finishes, layouts, and overall décor. Expansion of existing capacity is less some sort of function of market analysis and more a function of "making hay while the sun shines, " based on good understanding of the visitation pattern densities. Patron back-ups for gaming positions and restaurant tables can be both bad and the good, depending on when they occur and how often. High per position per day net win averages are not always an indication of a prospering casino, as they could also mean lost opportunity because of an insufficient number of games. Conversely, additional postures are not always going to generate the same averages. When initially configuring capacities for a new facility, it is important to fully measure the demand patterns into their respective day-part components that will maximize penetration during the peak periods while minimizing inefficiency : the point where the costs associated with additional capacity is exceeded by its net income potential. Food & Beverage Amenities Inside most casino venues, restaurant amenities are "loss leaders, " designed to retain & attract casino patrons using low prices and great value; yet they have the ability to both widen occasioned-use of the casino, while also addressing potential profit centers. In Nevada, which is the only state where detailed historical F&B departmental operating results are readily available casinos, properties with gaming revenues averaging between $20M to $200M showed food operations having a net departmental loss of 1 . 5% of sales in 2001, versus almost a 14% loss in 1995. Much of the following major turnaround is due to the growth in the number of food outlets, especially more upscale/specialty restaurants, which has spurred gross sales from 20% of gaming revenue in 1995 to almost 27% in 2001. Moreover, food costs are generally reduced sharply from 45% in 1995 to 35% in '01. As the previous discussion on occasion-segmentation unveiled, a consumer's choice of a casino visit can sometimes compete with other entertainment/leisure time activities, including dining out. Having a market place relevant restaurant facility within the casino can serve to attract the dining-out destination market, with the casino taking advantage of its proximity. Therefore when market conditions indicate changes in a casino's restaurant configuration, the questions to be attended to are how can they be designed to satisfy the current patronage base, widen occasioned-use, and improve profitability. Lodging Substances With turnkey hotel development costs ranging between $75K to $350K per available room, a market positioning approach had better be well studied. Yet we see many such projects undertaken with little understanding of the market dynamics and also economic impact. Nationwide, according to our most recent survey, there are 724 casinos around the country; comprised of 442 commercial treatments, about half of which are located in Nevada, and 282 Indian gaming venues, of which 209 offer most, if not just about all, of Las Vegas type (Class III) games. Roundly 58% of casinos in the commercial gaming sector have co-located lodgings, compared with 37% of Class III Indian gaming venues, despite their containing a similar average number of games. That high preponderance of hotels within the commercial sector owes to some gaming jurisdictions requiring them; including Nevada (for an unrestricted license) and New Jersey. Moreover, much of the Nevada market demand stems from beyond a daytrip radius, making overnight accommodations necessary in order to gain market share. When extrapolating these states from the total, the share of all commercial casinos with hotels drops to 50%, with an average of 312 rooms & 1, 183 games. The obvious advantages of casino lodging units is their ability to attract gaming markets from beyond the typical excursion radius, while also having a somewhat "captured" market (Casinos with Hotels). Moreover, guest rooms can be another perk-use for player club points. Hotels also widen a casino's occasioned-use by offering non-gaming leisure activities & amenities, augmented by the ready availability of gaming, while also representing another profit center (Hotels with Casinos). In addition , within a traditional lodging setting, a casino/hotel has a competitive advantage by virtue of its added entertainment options. Among the major Las Vegas properties there are more hotel rooms than games, as the city transits from a gaming destination to help more of a resort & convention destination. In so doing these properties increased their hotel profitability and investment dividends by not having to offer low rates to attract gamers. Whereas, some areas such as Laughlin and Reno, which often do not enjoy the critical mass of a Las Vegas, still find it necessary to supplement their hotel investment with casino sales, due to low room rates and large seasonal visitation fluctuations In configuring a casino hotel development hence, it is important to understand the market and financial dynamics and their impact on overall gaming revenue and profits. Within the free-standing (non-casino) hotel industry, financing terms are usually over a 15 to 20 year amortization schedule with a ten season balloon/refinance, and have a break even point that approaches 65% to 70% occupancy. Typical casino based lodging substances enjoy high occupancy levels on the weekends, but low levels weekday. It is therefore incumbent not to "build a religious for Easter Sunday, " keeping in mind the overall efficient use of the asset. Moreover, if the intent is to attract other casino patronage from a wider market radius, it is important to evaluate the cost of any hotel subsidy versus the probable increase in gaming profits. A new 200 room hotel at a casino already generating 20, 000 weekend site visitors, may only be adding 2% to 4% more players, while exposing itself to higher costs. In regards to occasioned-use, especially among tourists and weekenders, casino hotels may also be competing with alternative resorts in the region. Ideally, these types of factories, when not situated in markets with insufficient local/day-trip markets (e. g. Laughlin), should be configured on the basis of their non-gaming linked and off-peak period support so as to maintain relevant room rates and adequate levels of profitability. They should also include the ones amenities these markets are seeking, including, where applicable: conference and convention facilities, and indoor/outdoor recreational elements. Even though more of a niche market, RV Park facilities are a less intensive investment in overnight lodging facilities that can non-etheless offer some of the same benefits. According to the latest data, there are more than 9 million households in the United States that own RVs, and represent one of every ten vehicle owning households. Many of these households include the 55 & over age groups, with a higher than average gaming propensity and annual income. RV Park development costs are well below many for hotels, but usually have a high seasonal use, peaking during the summer months in temperate resort environs and within the winter months in the "snowbird" areas. Retail/Outlet Shops Retail/Outlet shopping is gaining a major foothold at casino venues country wide. First represented by casino logo shops and a few high-roller/jackpot-winner positioned boutiques, these stores have now grown into serious malls and entertainment centers. The Forum Shops at Caesar's Palace in Las Vegas enjoys the highest per rectangle foot sales of all retail malls in the U. S., and the growth in retail sales in the city is usually significantly outpacing that of gaming revenue. The presence of these shops serves as both an activity to the area's 35 million annual visitors, who are now spending less than 4 hours per day actually gaming, as well as a major money center that leverages the visitation base. In less resort destination type markets, outlet malls are robust traffic generators from which a casino facility can draw patronage. On a smaller scale, casinos can widen their own occasioned-use by offering unique and indigenous shopping that is especially positioned to attract the "adjunctive" daytripper advertise. The extent and characteristics of these stores should be scaled to the potential market, current visitation trends, and any nearby ambiance. Entertainment Although entertainment is a mainstay in casino environments, stemming from the Rat Pack days in Sin city, to today's imposing concert/arena venues and specialty shows; their market dynamics are much misunderstood. They are at one time, diversions, attractions, profit centers, and public relation tools. They can however , also generate major losses, and therefore has to be well studied to determine their appropriate configuration. With most major entertainment events occurring during the weekend periods that attracted audiences may not have any significant impact on a likely already busy period. Therefore it in incumbent that specific event be structured so as to at least break even or turn a small profit. While this is somewhat do it yourself evident, the more central issue is the entertainment venue's ability to also amortize its initial development cost investment. Open-air facilities can sharply reduce construction costs, but also are prone to weather vagaries and seasonal use. Moreover, party tents and temporary structures usually do not have the cache of a fixed venue that is an integral part of the casino facility. Recreational Factories There is a lot of attention these days being given to the development of recreational facilities at casino venues, especially individuals associated with resort projects. Golf courses are a common adjunct to many resorts, and many Indian communities enjoy the advantage of access the ample land areas and water rights these types of undertakings require. As with all of the other revenue enhancing reinvestment alternatives discussed herein, recreational facility development should be considered within the context of its ability to generate additional casino people and/or serve as a profit center. Whereas golfers traditionally have a high gaming proclivity the association of actively playing golf with a casino is not exactly in sync, given the length of time required for a typical round. Moreover, even under the highest use rates, a typical 18 hole golf course will only accommodate about 140 players per day, while the national average in all year round environments is about 100 rounds per day. This is not a lot of additional players for the casino, even if all of them gambled, and specifically considering the cost of an average course, excluding land, ranging between $5M to $15M. However , golf course development with regard to a resort package and/or to fill a local market demand can have many non-gaming related benefits. From a vacation resort development standpoint, a golf course as well as other recreational elements can add to the facility's competitive positioning, to the point where its development/operating costs can be recaptured through higher room rates/green fees. Many traditional golf courses also "pencil-out" when integrating fairway home sites, which have a particularly higher value than non-golf course sites. Given the trust status associated with Indian lands, this may be somewhat problematical on reservation lands, unless some sort of long term land leases could be negotiated for any home owners. Planning/Financing & Implementation Once all of the salient market factors have been considered and weighted against their charge vs . benefits, a comprehensive reinvestment & expansion program can begin to take shape. A design & construction team must be assembled that can help further interpret the program in terms of creative and value engineering input, while also maintaining its well-known market positioning and financial strategies. Importantly, the program should illustrate how each element will be coordinated into the over-all facility fabric and the manner in which it will be financed. Some funding can stem from reserved profit allocations, while others on their own funded with additional debt, whose amortization has been factored into the overall project's feasibility analysis.

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urbanwronski · 7 years ago

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And it is money that has come out of the pockets of some of the poorest people. It is money that comes from human hardship. These machines are located in pubs and clubs in areas of economic disadvantage deliberately. And that is why we have fought so hard, so hard, to get poker machines out of pubs and clubs in Tasmania. We know they are lethal and toxic machines. Rebecca White Tasmanian Labor leader

Like rabbits caught in the headlights of a juggernaut of pro-pokie Liberal Mad-men, Tasmanians vote, Saturday, mostly to do as they are told. It’s a win for pokies’ owners by pokies’ owners. Bugger the people. Yet it’s not the crushing victory being sold on mainstream media. What is clear by Sunday is the Liberals will stay in power.

Premier Will Hodgman’s government wins 13 of the 25 state lower house seats on Saturday, a loss of two, or down 0.8 %, but still enough for his Liberal Party to govern in its own right in a large late surge over the last month.

Labor’s vote is up 5.4% with 84% of the vote counted Sunday. The Hare-Clark, Robson system means that several seats remain in doubt in contests between candidates from the same party. What is not in doubt is the size of the Liberal war chest which some say is ten times Labor’s. Did wealthy Liberals donors help the party buy its victory?

Bedazzled by bill-boards, newspapers and TV screens, in a saturation ad blitzkrieg, voters succumb to sentimental slogans such as “love your local” and fear of paternalism, the dreaded spectre of Labor-Green despotism.

And the jobs’ lies. “I’ll have to go to the mainland for a hospitality career if Labor gets in,” whinges a teenager on the radio, a model of self-pitying misery and entitlement, already a perfect fit for any career in customer service.

Bad news, kid, the “hospitality industry” is rife with wage theft and exploitation. Better you should stay at school.

“Whether it’s a big, small or medium business, the most common worker is young, unskilled or a migrant so really it’s a hotpot for exploitation. When you put all these things in the mix, people aren’t aware of their rights — people are desperate to work, and it’s a recipe for exploitation,” says Shine Lawyers employment law expert, Will Barsby.

When it comes to wages, Tasmanian workers share the predicament of all Australia’s workers. Wage earners’ share of the national pie has shrunk dramatically to the lowest point since the Australian Bureau of Statistics (ABS) began recording this data in 1959.

Roy Morgan reports that our workforce is 13,410,000 comprised of employed and unemployed, up a whopping 518,000 on a year ago, a context omitted in Scott Morrison’s misleading claim that “2017 was a year of extraordinary jobs growth in Australia, over 400,000 jobs created in the year”.

1.312 million Australians were unemployed (9.8% of the workforce); an increase of 126,000 (up 0.6%) on a year ago, but Morrison chooses to hide this from us in the hope we are all mugs. ScoMo or Michaelia Cash never talk about numbers of unemployed.

Furthermore, despite Liberal shills on ABC and mainstream media who pretend there is some miraculous recovery happening ,Tasmanians are in fact more likely to be out of work or underemployed than workers in any other state.

Tasmania’s unemployment rate is 10.7% while 11.5% of the workforce is under-employment 11.5%. 22.2%, or one in five, Tassie workers have either no work or not enough. Abolishing pokies is not going to cost 5000 jobs – as claimed by Hodgman’s Liberals – when there are only 370 workers in the industry – or about 1000 in gambling overall. And other jobs are likely to be created as a result of money not spent gambling.

The new gaming laws will bring a windfall for casinos reports The Australia Institute, cutting their taxes in half if they are put on the Federal group rate. Taxes for pubs and clubs, on the other hand, will rise by $10 million. Yet, in a typically caring, sharing, token concession to pokies’ toxicity, taxpayers will contribute an extra $1.7 million to the Community Support Levy to counter the costs of problem gambling. The casinos are the big winners while the punter loses out yet again.

The Liberals’ big Tasmania vision is not solution, either, for unlucky punters. Population growth is at its highest rate since the GFC, but that doesn’t “grow” jobs. Nor is it a state economic windfall. It’s the structure of the population that counts. Each year Tasmania has fewer young and more older people compared to the rest of Australia, even when population “booms”.

Will Hodgman has had a population push since 2014. Yet Tasmania has always gained more people over 45 and lost more younger, working, fertile, 19-39 year olds due, mainly, to the state’s lack of employment opportunities.

Older folk create jobs and actively contribute to society and economy, but they also will create increasing demand for government services, such as pensions and healthcare, areas in which Liberals have a poor track record.

The Government has made sweeping job cuts in health, reports ABC Fact check with the Treasurer stating publicly that while the Tasmanian Health Organisations gained 80 full-time equivalent staff, the Health Department shed 200 positions between June 2014 and March 2016.

But bosses and government never gull young people, it’s always unions and greenies who are out to con you.

“Labor and the Greens think you’re stupid. What’s next? Don’t let them tell you what to do”.

This richly allusive Liberal rhetorical campaign gem shrewdly taps Tasmanians’ memory of the unpopularity of its last Labor-Greens coalition cabinet of 2010, a coalition which psephologist, William Bowe, dubs an electoral disaster.

Be it inertia, bewilderment, blind panic, cynical manipulation, disinformation or a toxic cocktail of the lot, in the end, voters elect Will Hodgman’s Libs, a shady cabal of big business, big gambling and Big W, in a result which will further erode Tasmanians’ control of their own lives, expand state power, boost gun-power and feed the canker of poker machine blight, introduced to the Apple Isle by Ray Groom’s, 1993 Liberal government.

Can Tasmania, our most beautiful, most wondrous state, Australia’s own Serendip, now be rotten at the core?

Ministry of Truth, our ABC in its Insiders cosy Sunday hack-chat-show, a forum which artfully evades the real issues, or real depth, says the Liberals win as Tasmanians flock to sunny uplands of neoliberal prosperity. Hodgman’s Liberals, they say, deliver an “economic upturn” a myth based on the island state’s property boom, or bubble.

It’s a tall story which can only grow taller, as the federal Liberals’ spin doctor army toils to turn the result into a vindication of the Turnbull government’s futile attempts to revive neoliberalism’s corpse; its corporate tax cut payola to its donors, and austerity budgeting, a campaign of calculated impoverishment of innocent and vulnerable victims of its policies, which daily widens the gulf of economic inequality, in its war on the poor and elderly.

By Monday, Tassie’s results will become a sign of upturn number 365 in the Turnbull government’s popularity. There is always a reboot, a recovery around every corner.

Yet, apart from real estate sales, any other economic upturn is hard to find. So why the sudden turnaround? A month ago, polls had the two parties neck and neck, on 34% of the vote, but in more recent polls Liberals soar an alarming 12 %. in a shocking corruption of the popular will, which, William Bowe, worries, means,

The election could join federal Labor’s mining tax debacle in 2010 as a cautionary tale about the dangers of taking on deep-pocketed interests in an election campaign.

A key issue at stake is many Tasmanians’ opposition to Federal Hotels’ pokies monopoly. Federal owns all 3500 machines (plus Wrest Point Casino, some luxury wilderness accommodation and the Henry James Hotel). Labor and The Greens’ want to remove pokies from all pubs and clubs by 2023. But end the firm’s half-billion dollar revenue stream?

Also not sitting well with voters is Federal’s breath-taking, back-flipping duplicity. Anti-pokers veteran, Pat Caplice sums up Federal’s hypocrisy.

“The clubs and hotels pushed for pokies back in the ’80s. Federal opposed it totally, used all the arguments about dependency they now deny. Then, when it was being debated in 1993, there was a huge backflip, within days, and Federal itself was gifted a monopoly licence.”

Saturday’s election result ushers in a new “gaming” agreement, an industry euphemism for ripping off unwary, vulnerable, punters. The state will revoke Federal Hotels’ monopoly and gift licences to pokies pubs, in a move which will result in cashed-up Federal and Woolworths buying up dozens of pubs, allowing Woolworths a 30-40% stake in gambling in the state. The result is guaranteed to increase personal misery and social breakdown.

Meanwhile, the pro-pokie promotion create a ruckus that sucks the oxygen out of many other areas of debate.

Protecting what remains of The Tarkine is a huge political issue. Speciality timber logging permits granted in 2014 by Hodgman’s government reduce the area’s reserve to five per cent of its former area. Liberal candidate for Braddon, Adam Brooks’, media release reads “Only the Liberals would stop a Tarkine National Park”.

The Liberal election pledge is an indictment of the party’s senseless environmental vandalism; its contempt for Aboriginal cultural heritage, history and the legacy of shell middens, stone quarries, hut depressions, seal hides and rock carvings that remain and its failure to consult with local Aboriginal people.

17 coupes are still being logged while the 4WD fraternity, bush-bash on expensive temporary road mats. In Hobart, around two thousand people protest the abuse of the unique wilderness, in a gathering led by the Bob Brown Foundation. The group calls for permanent protection for the 447,000 hectares of the Tarkine.

One-armed bandits backers make such a racket they drown out late news that the 45th Tasmanian premier, William Edward Felix Hodgman, promises the quaintly termed sporting shooters and farmers, a hard-nosed gun lobby, an easing of gun control laws, extending licences from five to ten years and permitting automatic weapons.

But if it’s a victory for guns and money, it’s also another stage in the ascent of the corporate oligarchy Woolworths, which, Guy Rundle writes, will wield power over Tasmanians “from controlling prices to suppliers, to selling them their food back as consumers, and taking the cash of people who never quite make it to the shops.”

At the same time, Tasmanians surrender their own say in their own affairs, as Hodgman’s big government proposes major projects legislation and a state-wide planning scheme which shuts out community input.

Tasmania, fruit of the fruit machine, rolls with the dice, as the state’s obscenely powerful gambling lobby pours millions of dollars into Liberal party campaign coffers, vastly outspending the Labor Party. Some estimate a Liberal war chest up to ten times larger. We may never know. The state has the nation’s slackest campaign donation disclosure rules.

What is unique – and refreshing about the Tassie election campaign is the respect between the Liberal and Labor leaders, a tradition that is dead, buried and cremated in federal politics this week when Michaelia Cash suddenly threatens to name young women in Bill Shorten’s office – about whom there have been rumours “for many, many years.” The idea that she should “slut-shame” nineteen women working in Shorten’s office is bizarre, wrong and a sign of an ugly decline in federal politics.

Worse, Cash makes it clear that she proposes to name names and then Shorten will have to prove his innocence. It’s a perversion of legal process and a cheap, demeaning stunt. Worse, it plumbs new depths in character assassination as political strategy.

And it’s part of Liberal team plan: Peter Dutton is soon off the leash on 2GB attacking loose, louche, philandering Bill and two-timing Tony Burke.

“I think we’ve sat here taking a morals lecture from Bill Shorten in relation to Barnaby Joyce over the last few weeks and people know that there’s a history of problems in Bill Shorten’s personal life, Tony Burke’s personal life. And to be lectured by the Labor Party really sticks in the craw.”

As is Dutton’s wont, he is undeterred by being factually incorrect and totally out of order. Labor scrupulously abstained from criticising Barnaby Joyce’s affair with his staffer Vicki Campion.

It was, in fact, Malcolm Turnbull who took it upon himself to deliver a finger-wagging moralising, which was backed up with what can only have been a National to Liberal Party hand-ball leaking of the name of a woman who is bringing case of sexual harassment or serious misconduct against Joyce to the National Party – from whom we have heard nothing further.

Above all it’s not Joyce’s dangerous liaisons that are the critical issue – not his fidelity or his personal morality but how he could create or cause to be created not one but three jobs for his (non-partner) paramour Vicki Campion. And his boondoggle inland rail. Plus his Murray Darling basin water for rich cotton irrigator National party mates scandal.

As the week closes, it is clear that the Coalition’s mud-slinging will continue as part of the Kill Bill strategy – but also as a splendid diversion from any alleged peculation, nepotism or misuse of public funds including travel allowances, a net which seems to be closing rapidly on Julie Bishop, whose non-partner, David Panton, is somehow able to travel at taxpayers’ expense.

The situation is clarified late in the week when Bishop changes her mind; agrees the two have been partners for six months. At least that’s cleared that up. Will Panton now repay his trip to the UN or any other trips he took with her prior to that period? At least it’s not “a grey area” as Barnaby Joyce calls his paternity.

A new tune to add to his brilliant riffs on playing the innocent victim, Joyce tells media that everyone assumed he was the father of Vikki Campion’s child. He may not be. The Daily Tele never asked, despite there being an email from the paper to Joyce asking that very question according to Fairfax.

Now it seems Barnaby and non-partner Vikki were mostly geographically apart with some togetherness during the putative conception date of the unborn child, whom Barnaby, nobly, says he will love anyway. And no. He has no intention of taking any paternity test. Perhaps it may turn out to be an immaculate conception.

In Tassie this week, the Liberals win by throwing buckets of their sponsors, the gambling mob’s – (wrongly dignified as an industry)- money at advertising promoting fear and loathing of Labor, while, in the senate, Michaelia Cash dishes the dirt as a diversion from her own alleged collusion with the AFP to contact media to help her conduct a witch hunt in an illegal raid on the Melbourne office of the AWU, a union Michael Keenan says gave a donation to Bill Shorten’s campaign – as it is perfectly entitled to do.

The AWU has not yet been charged with a single criminal offence. Probably because none has been committed. In the meantime, politicians from Tasmanian to the nation’s capital compete this week, as Hamlet almost says, stewing in corruption, honeying and making love – while tipping buckets of excrement over their opponents in a debauched, degenerate, parody of a competitive party political system which was once based however loosely around policies and reasoned argument and rational rebuttal.

The nation moves beyond policy, principle or even the fan-club of identity politics to savage character assassination, innuendo and vituperative personal attack. Each day we draw closer to the politics of Trump’s USA, the nation our PM wishes to sedulously ape and not only in tax cuts for corporations but in health and welfare, too.

One-armed bandits rob Tassie election while Cash loses plot and Barnaby finds paternity a grey area. And it is money that has come out of the pockets of some of the poorest people.

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addcrazy-blog · 8 years ago

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New Post has been published on Add Crazy

New Post has been published on https://addcrazy.com/how-the-net-threatens-democracy/

How the Net Threatens Democracy

Because the forces of reaction outpace moves predicated on the correct of progress, and as conventional norms of political competition are tossed apart, it’s clean that the Net and social media have succeeded in doing what many feared and some hoped they might. They have got disrupted and destroyed institutional constraints on what can be said, when and wherein it may be said and who can say it.

Even though in one sense President Trump’s victory in 2016 fulfilled traditional expectancies — as it avoided a 3rd immediately Democratic term in the White House — it additionally revealed that the Internet and its offspring have overridden the conventional American political machine of alternating left-right benefit. They are contributing — perhaps irreversibly — to the decay of traditional ethical and moral constraints in American politics.

Matthew Hindman, a professor of media and public affairs at George Washington University and the author of “The myth of Virtual Democracy,” said in a telephone interview that “if you took the label off, a person searching at the united states might must be concerned approximately democratic failure or transitioning closer to a hybrid regime.”

This type of regime, in his view, would maintain the trimmings of democracy, together with reputedly unfastened elections, while leaders might manage the election procedure, the media and the scope of permissible debate. “What you get is a rustic this is de facto much less unfastened.”

Hold analyzing the principle story

a brilliant element for purchasing extra layers of transparency. It changed into actual for Donald Trump as it became for Bernie Sanders; the Net ended smoke-filled back rooms, deal-slicing moved from again room to a true campaign, with an Extra widespread populace. Perhaps an unwashed populace, however, that’s the beauty of Yankee politics with 350 million human beings.

Goodstein noted, however, “a terrible improvement at the Net” remaining year:

On this cycle, you saw hate speech retweeted and echoed, via partisan hacks, the Jewish star used in neo-Nazi posts. There is no governing body, so I assume it’s going to get worse, Greater people jumping into the gutter.

Using Digital technology in the 2016 election “represents the brand new chapter in the disintegration of legacy institutions that had set bounds for American politics within the postwar Technology,” Nathaniel Persily, a regulation professor at Stanford, writes in a coming near near paper, “Can American Democracy Continue to exist the Net?”

In line with Persily, the Trump marketing campaign was “totally extraordinary in its breaking of set up norms of politics.” He argues that

this sort of marketing campaign is most effective successful in a context in which certain established institutions — in particular, the mainstream media and political celebration businesses — have misplaced most in their electricity, each within the U.S. and around the sector.

The Trump campaign is handiest the newest beneficiary of the fall apart of as soon as dominant groups:

The void those eroding establishments have left changed into crammed through an unmediated, populist nationalism for the Internet age. We see it in the upward push of the 5 famous person Movement in Italy and the Pirate celebration in Iceland. We see it in the success use of social media in the Brexit referendum, in which supporters have been seven times More severe on Twitter and Five instances More energetic on Instagram. And we see it in the pervasive fears of government leaders for the duration of Europe, who involved well before the American election that Russian propaganda and other Internet tactics would possibly sway their electorates.

The have an impact on of the Internet is most effective the maximum Recent manifestation of the weakening of the 2 predominant American political events over the last century, with the Civil Carrier undermining patronage, the rise of mass media altering communication, campaign finance regulation empowering donors unbiased of the events, and the ascendance of direct primaries gutting the strength of party bosses to pick nominees.

In a telephone interview, Issacharoff mentioned the emergence of Internet-based methods of communication as a primary contributing aspect inside the deterioration of political events.

“generation has overtaken one of the basic capabilities you wished political events for in the past, verbal exchange with voters,” he stated. “Social media has changed all of that, applicants now have direct get admission to thru electronic mail, blogs, and Twitter,” together with Fb, Instagram, Snapchat and different platforms.

Two trends within the 2016 marketing campaign provided strong proof of the vulnerability of democracies within the age of the Net: the alleged effort of the Russian government to secretly intrude on behalf of Trump, and the discovery with the aid of Net profiteers of a way to monetize the distribution of fake news testimonies, especially stories unfavourable to Hillary Clinton.

In an email, Samuel Greene, the director of the Russia Institute at King’s University London, defined his “best estimate” of Russian cyber hacking underneath Putin’s guidance:

Groups of hackers, running with various levels of resources and at diverse distances from the central chain of command, had a number of licenses to poke and prod and spot what they may give you. A number of those human beings found it less complicated to do sure types of things — like spoil into Podesta’s emails — than they’d predicted. Having obtained a windfall, they were then given license to push it even similarly.

Poisonous Plutocracy Pushes Economic Inequality

The largest political issue receiving no interest from the Democratic and Republican presidential candidates is the effective plutocracy that has captured the government to provide growing Economic inequality.

Both primary events have enabled, promoted and supported this Top Magnificence plutocracy. Myriad federal rules make the wealthy notable-wealthy and the effective dominant in Both proper and terrible Financial instances. In the meantime, in spite of elections, the middle Class sinks into one massive Decrease Magnificence as the plutocracy guarantees that national prosperity is unshared.

Why no attention? Why no explicit reference to a plutocracy that makes a mockery of yank democracy? Simple answer: due to the fact Both major events and their applicants are subservient to numerous company and different special pastimes that use their money and impact to make sure that their elitist priorities succeed. Make no mistake. Barack Obama with all his slick rhetoric is just as a lot a supporter and benefactor of this Higher Class plutocracy as Hillary Clinton and John McCain.

Anybody that is not in the Top Class who votes for any of those presidential applicants is vote casting against their personal pursuits. They had been hoodwinked, conned, brainwashed, exploited and manipulated by using campaign propaganda. They pick people for the seen authorities even as they continue to be oblivious to the name of the game government – the powerful pulling the strings at the back of the degree. cash makes more money, financing extra political influence.

One in all The largest delusions of American citizens is that if they retain their constitutional rights that they nonetheless stay in a rustic with an operating democracy. Wrong. American democracy is delusional because the 2-celebration plutocracy makes citizens Financial slaves. This represses political dissent. It’s far twenty-first century tyranny. Two-party presidential candidates, unlike our country’s Founders, lack braveness to combat and rebellion in opposition to domestic tyranny. Placebo balloting distracts citizens from the political necessity of preventing the plutocracy.

Financial records show the plutocracy’s attack on American society. Recall these examples.

The pinnacle 20 percentage of households earned extra, after taxes than the final 80 percent in 2005, whilst the topmost 1 percentage took home extra than the bottom forty percentage.

No American state has visible the gap between rich and terrible widen faster than Connecticut. From 1987 through 2006, the top 5th of the state’s households noticed their earning growth by means of 44.8 percent, after inflation. earning for the lowest fifth fell 17.four percent. On the opposite coast, just 3 of each 1,000 Californians in 2005 reported at least $1 million in profits. However they were given $213 of every $1,000 Californians earned in 2005 profits. The kingdom’s pinnacle 1 percentage – average income $1.6 million – pay 7.1 percent in their earning in income, sales, belongings, and gasoline taxes. The poorest 5th of California families pay 11.7 percentage.

Actual hourly wages for maximum employees have risen most effective 1 percent seeing that 1979, at the same time as the ones people’ productiveness has expanded with the aid of 60 percentage. Better efficiency has rewarded business executives, proprietors, and buyers, But no longer workers. What is greater, American people now paintings extra hours in keeping with 12 months than their opposite numbers in absolutely every other advanced financial system, even Japan, and without regularly occurring health care.

A normal hedge fund manager makes 31 times more in one hour than the everyday American own family makes in a yr. In 2007, the top 50 hedge fund earnings-earners collected $29 billion – a mean of $581 million every. John Paulson took domestic $3.7 billion from his hedge fund labors. those figures do now not count number profits from promoting shares of their corporations. Importantly, hedge fund gamers contributed 9 times extra to the Senate Democratic fundraising arm than they gave to Senate Republicans in 2007.

In 2009, Americans who make over $1 million a yr will store a median $32,000 from the Bush tax cuts on capital gains and dividends. The common American household will keep $20.

between 1986 and 2005, the income of America’s top 1 percentage of taxpayer jumped from 11.3 to 21.2 percent of the country wide overall. Their federal earnings taxes dropped from 33.13 percentage of overall non-public profits in 1986 to 23.13 percent in 2005. From 2001 to 2008, the internet well worth of the wealthiest 1 percent grew from $186 billion to $816 billion.

Monetary inequality and injustice mirror a political catastrophe, despite regular elections. It has resulted from authorities choices on tax cuts, spending, alternate agreements, deregulatory measures, hard work unions, company handouts, and regulatory enforcement. All crafted to gain the wealthy and effective and depart the relaxation people in the back of. It has occurred below Democratic and Republican presidencies and congresses. Bipartisan domestic tyranny propels greed pushed plutocracy.

What do we desperately want? A country-wide discussion and referendum on inequality-pumping plutocracy, that none of the most important presidential applicants suggests any interest in having. Truely now not Barack Obama with his vacuous communicate of trade (But no longer about the political gadget) and John McCain’s incredulous speak of reform.

And It is delusional to think that populist global Net connectivity generating what is called personal sovereignty threatens plutocracy. Networking most of the wealthy and effective strengthen the global plutocracy, setting it above country wide sovereignty. more than producing a military of revolutionaries to overturn the machine, the Net has fragmented every conceivable motion. Individuals indulge themselves with their personal or social web sites or fall victim to conventional politicians. Era and media owned and controlled by way of plutocrats serve them whilst it shackles and deceives the multitudes.

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