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16/06/2001 No.6
he Good Gambler
The Editor or one of our professional correspondants make regular contributions to coverage of the gambling world.
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Election, what election?

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.