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Some
say there was an election in the UK on June 7th, 2001. Others say there was a
monster betting opportunity to spread bet down from the 66% turnout figure that
IG Index was quoting. Once the public noticed there was no election, IG had no
choice but to lose big.
One classic rule to learn from politics is "the
majority is always wrong". The majority of people voted to oust Tony's army and
they stormed into power once more. Carry this principle over to Vegas. Henry
Gluck opened the ancient Rome-themed Forum Shops at Caesars Palace in 1991 by
paying the tenants construction costs. Everyone knew in their hearts that he
had lost the thread of business. It is now the most profitable shopping mall in
the U.S. Now he's in the desert. The people who doubted him before have clubbed
together to back him and he is building a $7 billion Italian-themed hotel,
casino and housing resort around a man-made lake -- all in the desert 15 miles
from the Las Vegas Strip. Don't they know the rule? Now they are in the
majority, it can only fail.
On the home front all sorts of things are
happening with the casino world in Britain. London Clubs new 100 seater card
room in Brighton threatens to close the nearby Grosvenor outfit, when and if it
finally opens. LCI (London Clubs International) have had more than a little
problem with the gaping whole in the desert, otherwise known as the Aladdin
Casino, Las Vegas. To date they have sunk more than $800 million dollars into
the project, which is a lot from a company worth less than £100 million
over here. They quote all sort of weird problems to delay opening but just
posting the bond money is proving to difficult for them.
British
Casinos are set for change and at a faster rate than expected. And in the wrong
direction. With the "phoney" Gambling Review expected in July, casinos are
expected to get everything they wanted in respect to relaxation of rules and
customers get nothing in the way of protection. Now if only I could get a look
at the Review Boards' expense accounts I ....... . Its a lost cause. The gaming
rules that came into force in the 1960s to rid gambling of crooks have turned
into corporate licenses to fleece people of their money in the most tasteless
way possible. When we develop separate poker rooms, we may kiss them goodbye.
Until then we put up with them. Oh and soon you'll be able to get cash from
cash-point machines inside the casino, every casino in the country.
Back to poker and in Vegas the WSOP is over but sackings continue.
Tournament staff and floor people were bumped from their 1% of tips to 0.15%,
some complained and those that did, got sacked, including all the organisers.
On a higher note, the Europeans continue their new position of tournament
domination as Bruno Fitoussi picks up the World Heads Up Poker Championship in
Vienna. As many will know, Bruno runs the Aviation Club in Paris. Most people
don't know that he was a travelling gambler for many years prior to taking his
current post. He played backgammon at the World Championships in Monte Carlo,
poker on the small European circuit and blackjack in travelling teams that took
on casinos. Obviously success has gone to his head and now he's winning big
tournaments. Good luck Bruno.
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