Bettie: Horseshoe Update

[Bettie]

From today's Review-Journal:

Binion's Horseshoe returned its keno lounge and hundreds of slot machines to operation late Monday after it was able to increase its state-mandated cash reserves to pay off big winners.

Gaming Control Board Chairman Dennis Neilander said Tuesday that the Horseshoe's bankroll now complies with state rules, but he declined to say how much the bankroll is. The property indicated in a recent court filing that it had to maintain a $1.2 million bankroll.

"They got some capital and were able to return machines to operation," Neilander said, noting that control board agents are closely monitoring the troubled casino's cash reserves to make sure gamblers get paid any winnings.

The casino's three closed table game pits remain out of operation, leaving only the main pit with table action. State gaming regulators last week ordered the Horseshoe to turn off an estimated 40 percent of its 1,300 slot machines, the keno game and three of the four table game pits after control board agents discovered a shortfall in Binion's bankroll.

Most of the slot machines that were turned off were on the less-used west side of the Horseshoe, the old Mint side. Some of those devices were turned on Friday after the casino added cash to the bankroll, and the rest of the disabled slots were turned on Monday.

Horseshoe owner Becky Binion Behnen and other property executives didn't return Tuesday phone messages.

Horseshoe Club Vice President Lynn Saladino said last week that the control board-ordered shutdown of Binion's slots and table games was caused "in good part by a temporary shortfall in the casino cage as a result of cashing payroll checks for Horseshoe employees."

[Sun Runner]

> > The property indicated in a recent court
> filing that it had to maintain a $1.2
> million bankroll.

> Horseshoe Club Vice President Lynn Saladino
> said last week that the control
> board-ordered shutdown of Binion's slots and
> table games was caused "in good part by
> a temporary shortfall in the casino cage as
> a result of cashing payroll checks for
> Horseshoe employees."

They must maintain a $1.2MM BR and cashing employee payroll ran them short!?

Where do I get an application!?

(does Lynn Saladino really think everybody's that gullible? who knows, maybe he/she actually is.)

With management of that caliber, no wonder they might be going broke.

SR

[Parker]

> The property indicated in a recent court
> filing that it had to maintain a $1.2
> million bankroll.

> Horseshoe Club Vice President Lynn Saladino
> said last week that the control
> board-ordered shutdown of Binion's slots and
> table games was caused "in good part by
> a temporary shortfall in the casino cage as
> a result of cashing payroll checks for
> Horseshoe employees."

I have always maintained that there are no circumstances under which I would ever work for a casino.

I may have to reconsider, as it would appear that casino personnel are much better compensated than I was aware of.

:-)

Seriously, this is lame, really lame.

[Moose]

.. "We'd have been fine, except for those pesky employees who insisted on getting paid for their work, since apparently not all of them are master tip hustlers willing to steal from drunken customers when they make change for them."

Am I to believe that the inspection of the cage took place immediately after the cheques were cashed and immediately before the appropriate amount of money could be transferred to the cage from the payroll department?

It wouldn't surprise me that sometime in the next 24 hours after announcing that they have met their bankroll requirements, there suddenly comes a rash of complaints from people whose safety deposit boxes have all been stolen from, yet no one can find the surveillance tapes...

M.

[joseph]

What happened to the 100 $10,000 bills that was on display ???

[Parker]

> What happened to the 100 $10,000 bills that
> was on display ???

Becky Binion Behnen removed it about two years ago, at first claiming that she was having it restored.

Later, it came out that she had sold it in order to raise cash for the casino. Since $10,000 bills have not been made for many years, they were worth several times their face value.

[joseph]

> Becky Binion Behnen removed it about two
> years ago, at first claiming that she was
> having it restored.

> Later, it came out that she had sold it in
> order to raise cash for the casino. Since
> $10,000 bills have not been made for many
> years, they were worth several times their
> face value.

i had a picture of it but cant seem to find it