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Wynn craps out in china

LVS Stock Strikes Earnings Gold; WYNN Stock Craps Out In a tale of two casino companies, for China is not only cracking down on rich corrupt folks. Downtown Grand Opens in Las Vegas with Steve Wynn Betting Large. Wynn threw out the first $ craps bet at the new Grand. Jul 29,  · You probably didn't notice that Steve Wynn changed the rules of We put destination-type games like craps The Chinese government chased out.

LVS Stock Strikes Earnings Gold; WYNN Stock Craps Out

So we've done quite a bit of work in tightening up the way the casino works. Wynning and losing Wynn Resorts was hit harder than any other company, as the lion's share of its revenue came from Macau. Now, it is somewhat of a mixed bag. Union Gaming You see how this could end up. You bump up each bet and await the roll of the dice. And I went to double odds only.

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We put destination-type games like craps in secondary locations. We changed the amount of free odds that we gave at dice games from what was commonly referred to as the three-four-five game.

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And that had to do with the amount of free odds you'd get if you made line bet to double odds. The Chinese government chased out high rollers, limited foot traffic to the territory from the mainland, and started monitoring Chinese citizens' debit transactions as they gambled. Wynning and losing Wynn Resorts was hit harder than any other company, as the lion's share of its revenue came from Macau.

It also was hurt by the fact that gamblers from Asia weren't heading to Las Vegas to gamble as much either. To do so — and to better weather potential downturns — he had to change his empire a bit starting last July. Wynn shared the details of that overhaul on a call with analysts and investors on Thursday after his company posted a slight earnings beat. In a nutshell, he found ways to get more money out of the customers he had instead of chasing the customers he had lost.

Wynn is known for having incredibly detailed knowledge about his casinos and the business in general, and this stuff is pretty impressive emphasis added: When you go to double odds, the house advantage is 58 basis points or 57 basis points. Now, that doesn't sound like a lot. That's a very narrow margin of a house advantage mathematically. And in so doing, we were able to overcome in terms of profitability what would ordinarily have been a massive loss of top-line revenue.

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Details

Mentioned in that post was the discussion of limiting craps odds to 2X. Many people seem to be interested in that topic, so I figured I would write a follow up post and include a transcript. Steve Wynn talking about craps and more on the Wynn Resorts second quarter earnings conference call: We've readjusted our floor. On the 4th of July. Interestingly enough, many of the games in Las Vegas have become marginally profitable. Years ago down at Binion's they started at the crap table of giving ten times odds.

If you bet a hundred dollars on the line you could bet a thousand dollars on the free odds behind the line - if you bet the pass line. I'm getting a little technical, but in the old days in dice whatever you bet on the line you could bet the same amount behind the line.

And that was a hold percentage of a little under one percent. Then they started giving double odds compared to the amount of money you bet on the pass line, and that lowered the house percentage to point five seven. Then it became a pattern on the Strip of what's called the three-four-five.

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Depending on what numbers you were betting on the crap table, to come up before number seven came up. You could get three times odds, four times odds, or five times odds. You know there are pairs of numbers on a dice table. Four and ten have two to one odds. Five and nine have a different set of odds, and six and eight are six to five. Well depending on what number you were trying to get, you could get three, four, or five times odds. That became a house advantage of point three seven.

With three dealers and a box-man, and half of a floor man for every table - craps is not a really profitable game at that level. So I changed the casino. In effect I raised the price.

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The Pass Line bettor believes that the roller is going to win. A rolling a 7 or an 11 on his "Come-out roll", a "natural" ; or B by establishing a Point on his Come-out roll and then repeating the Point on a subsequent roll, before a 7 ever shows.

Conversely, the right bettor loses if: A the roller rolls "Craps" on his Come-out roll: A winning roller continues to roll until he has lost. A right bettor that wants more "action" than that which is provided by a single Pass Line bet can take advantage of these "in-between" rolls to make other bets that are just as good as the one on the Pass Line.

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This is where the "Come" bet becomes available to the right bettor. The easiest way to describe the Come bet is to say that it is exactly like a Pass Line bet, except that can be wagered before any roll other than the shooter's Come-out roll. In other words, when a bettor makes a Come bet, the shooter's next roll becomes the Come-out roll for that Come bet.

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It doesn't matter that the shooter came out 3 rolls ago, or that he's now on his 5th, 10th, or 20th roll. The Come bet will be won with a 7 or 11 on that roll; lost with a 2, 3 or 12 on that roll; or a "Come point" will be established for that bet with a 4, 5, 6, 8, 9, or 10 on that roll.

The Come point must then be repeated or "made" before a 7, shows in order for the bettor to win his Come bet. If a 7 is rolled the Come bet is lost. So Chart "B" above works exactly the same way for Come bets as it does for Pass Line Bets, except that the Come Out roll for a Come bet is a roll other than the roller's true, legitimate, original Come-Out roll.

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