curious about the $$$$ a big time casino manager pulls

shadroch

Well-Known Member
#1
Do guys like Max Rubin command seven digit salaries?

After seeing Binions sell for only $32 million,I'm thinking of making a play for a casino of mine own.I'm pretty sure ZG won't pass the license,so I'm wondering what it would cost to bring in a top second tier guy like Rubin to
run things for awhile,while I learn the biz.
 

ChefJJ

Well-Known Member
#2
Shadroch, I know I'm not answering the question you've posed...because I sure as hell don't know the answer.

But, if you were to buy a casino such as the Horseshoe, how would YOU make it stand out from the others? I ask that not out of insincerity, but as someone who understands that you need a competitive edge in business to be successful -- as do you, I'm sure.

Just curious.
 

Sonny

Well-Known Member
#3
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shadroch

Well-Known Member
#4
Step 1- offer everyone who works there two months pay if they leave. Those who stay,stay because they love their jobs. Those who leave,won't be missed.
Step 2- Lose the 6/5 games,offer single zero roulette,ditch the carnival games and offer decent video poker.
Step 3- Hire the best management I can afford.To me,a guy like Rubin is priceless.
Step 4- Promotions.Vegas as a whole skews very young,so I'd try and get a pool party/Sunday radio show thigamajigga going.Transform the steakhouse into a first class lounge.

Thats a few,the rest are being developed in my business plan.
 

shadroch

Well-Known Member
#5
Thanks,Sonny,but those figures are for Suits.Middle/upper management guys are a dime a dozen and worth about that. Its like saying the averge baseball player makes 2 million.I'm looking for ARod,or the next ARod,not a suit.
 

ScottH

Well-Known Member
#7
shadroch said:
Step 1- offer everyone who works there two months pay if they leave. Those who stay,stay because they love their jobs. Those who leave,won't be missed.
Step 2- Lose the 6/5 games,offer single zero roulette,ditch the carnival games and offer decent video poker.
Step 3- Hire the best management I can afford.To me,a guy like Rubin is priceless.
Step 4- Promotions.Vegas as a whole skews very young,so I'd try and get a pool party/Sunday radio show thigamajigga going.Transform the steakhouse into a first class lounge.

Thats a few,the rest are being developed in my business plan.
1) I'll take 2 months pay and leave! Thanks.

2) I knew you enherited some money, but enough to buy your own casino? How much money do you have?
 

ChefJJ

Well-Known Member
#8
shadroch said:
Step 1- offer everyone who works there two months pay if they leave. Those who stay,stay because they love their jobs. Those who leave,won't be missed.
Step 2- Lose the 6/5 games,offer single zero roulette,ditch the carnival games and offer decent video poker.
Step 3- Hire the best management I can afford.To me,a guy like Rubin is priceless.
Step 4- Promotions.Vegas as a whole skews very young,so I'd try and get a pool party/Sunday radio show thigamajigga going.Transform the steakhouse into a first class lounge.

Thats a few,the rest are being developed in my business plan.
Nice. A true "player's joint".

Haven't been to the Horseshoe in a couple years...have they lightened up the motif yet?
 

shadroch

Well-Known Member
#9
ScottH said:
1) I'll take 2 months pay and leave! Thanks.

Of course you would,and its that type of attitude I don't want working for me..

2) I knew you enherited some money, but enough to buy your own casino? How much money do you have?
I inherited nothing.I took over a family business worth about $500,000 and increased it to the point where it sold for several million.On last Sunday,at a BBQ,I obtained commitments from several WallStreet types of $1,000,000 each,and a promise from a high muckety-muck at a major investment house to consider investing.Back when I was in college,I was a "Big Brother" to a fatherless boy who now is CFO for a major Hedge fund that I'm confident would pump in some bucks.
It would be heavily leveraged,but assuming Neveda regulators approved it,it's possible.
 

moo321

Well-Known Member
#11
shadroch said:
I inherited nothing.I took over a family business worth about $500,000 and increased it to the point where it sold for several million.On last Sunday,at a BBQ,I obtained commitments from several WallStreet types of $1,000,000 each,and a promise from a high muckety-muck at a major investment house to consider investing.Back when I was in college,I was a "Big Brother" to a fatherless boy who now is CFO for a major Hedge fund that I'm confident would pump in some bucks.
It would be heavily leveraged,but assuming Neveda regulators approved it,it's possible.
You should talk to some private equity groups as well. Probably the only way to raise that kind of capital. Too high for venture capital, and not risky enough.
 

ChefJJ

Well-Known Member
#12
shadroch said:
I inherited nothing.I took over a family business worth about $500,000 and increased it to the point where it sold for several million.On last Sunday,at a BBQ,I obtained commitments from several WallStreet types of $1,000,000 each,and a promise from a high muckety-muck at a major investment house to consider investing.Back when I was in college,I was a "Big Brother" to a fatherless boy who now is CFO for a major Hedge fund that I'm confident would pump in some bucks.
It would be heavily leveraged,but assuming Neveda regulators approved it,it's possible.
Best of freaking luck to ya...sounds exciting.
 

shadroch

Well-Known Member
#14
moo321 said:
You should talk to some private equity groups as well. Probably the only way to raise that kind of capital. Too high for venture capital, and not risky enough.
Several close friends have summer interns that will be working on developing this. We'll see in about six weeks if it possible.
 

xxrenegadexx

Well-Known Member
#15
shadroch said:
Step 1- offer everyone who works there two months pay if they leave. Those who stay,stay because they love their jobs. Those who leave,won't be missed.
Step 2- Lose the 6/5 games,offer single zero roulette,ditch the carnival games and offer decent video poker.
Thats a few,the rest are being developed in my business plan.
A lot of gamblers really dont give a sh*t about the rules or their odds. Its kinda sad but many gamblers don't care about a "minor" (in their eyes) rule change
 

shadroch

Well-Known Member
#16
xxrenegadexx said:
A lot of gamblers really dont give a sh*t about the rules or their odds. Its kinda sad but many gamblers don't care about a "minor" (in their eyes) rule change

While that is true,it is also true that the rules changes will allow them to play longer,making them feel good about their experiance in that casino,and will return again.
Don't get me wrong,I want to seperate them from their money. Its just I'll give them a taste of tounge while doing so.
 
#17
shadroch said:
Do guys like Max Rubin command seven digit salaries?

After seeing Binions sell for only $32 million,I'm thinking of making a play for a casino of mine own.I'm pretty sure ZG won't pass the license,so I'm wondering what it would cost to bring in a top second tier guy like Rubin to
run things for awhile,while I learn the biz.
Rubin's NOT the "top second tier guy" BUT, I know who is, at a very decent price. I want the timeshare concession on the 20% "empty room space' factor, AND handle the barter of media/ads for empty rooms.

And, I'll broker the rights to Shadroch's World, reality TV casino show. zg
 
#18
shadroch said:
Step 1- offer everyone who works there two months pay if they leave. Those who stay,stay because they love their jobs. Those who leave,won't be missed.
Step 2- Lose the 6/5 games,offer single zero roulette,ditch the carnival games and offer decent video poker.
Step 3- Hire the best management I can afford.To me,a guy like Rubin is priceless.
Step 4- Promotions.Vegas as a whole skews very young,so I'd try and get a pool party/Sunday radio show thigamajigga going.Transform the steakhouse into a first class lounge.

Thats a few,the rest are being developed in my business plan.
Back at the time that I was shopping the hard-money loan for Nick and Becky, early 2002, I outlined a plan for them, backed with sims, to make their games significantly more profitable: The gist of it was to replace most of the 1Ds with 2Ds -(h17, DAS, LS, 678 bonus, 80+% pene "Nevada's most liberal double-deck")- Two caveats: 1) ALL dealers will be trained to shuffle the 2D in the same time (per stopwatch) as then current 1D, and 2) I would have a trained counter-catcher working each of 3 shifts.

Best game in town, profitable, Bill Zender style respect when backing off counters.

Could have saved them the loss of a legendary club. zg
 
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shadroch

Well-Known Member
#19
zengrifter said:
Rubin's NOT the "top second tier guy" BUT, I know who is, at a very decent price. I want the timeshare concession on the 20% "empty room space' factor, AND handle the barter of media/ads for empty rooms.

And, I'll broker the rights to Shadroch's World, reality TV casino show. zg

I said second tier,but only compared to you.Actually,the rights to the tv show are part of our financing.
 
#20
shadroch said:
I said second tier,but only compared to you.Actually,the rights to the tv show are part of our financing.
Here's the move: The project goes somewhere other than Clark County, where brothels are legal. Buy the Mustang Ranch brand, cheap maybe $100k. The world's first casino-brothel-timeshare. We back it into a public shell, and use Hustler's mailing list to sell the timeshares on a "fly and buy" mini-vac program. Our best onsite closers are also our top girls. Plus topless blackjack dealers.

Its a f**kin circus of the bachus!

We're talkin REALITY TV!

And Tonight Show appearances for the Shadroch. zg
 
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