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[lvbear584]

As reported in the June issue of Current Blackjack News, Siena has lowered its table max to only $300. A pit employee recently told an inquiring patron, "Management doesn't want anything but small action anymore." There is now a laughable $3 minimum, $200 max double deck where on a recent visit, most patrons were indeed playing coins. Such a table is unlikely to be able to make more than a few dollars an hour, if even that. On a recent weeknight swing shift, a total of just three blackjack tables were open, including the $3 table. Siena management should be embarrassed and ashamed.

When Siena began business, it was a classy place. However, it had few customers. But at least it targeted upper echelon customers that could be exploited for profit. Unfortunately, the awful neighborhood it's in, with the drug and gang-infested flop houses across from it, bums hassling patrons for money, and the murders within a stone's throw of the valet entrance probably didn't help. So now it is a grind joint with few customers. I seriously doubt that it has positive cash flow. The stupid decision to run off all but the low-rollers will likely preclude Siena from ever being reasonably profitable.

It's a shame that Siena and Fitzgeralds have so quickly deteriorated within a few months of each other. Soon after opening up the new "better" games, Fitzgeralds suffered a self-inflicted, probably-terminal case of shuffling disease. Fitz's now-horrible games are tied with Circus Circus as Reno's worst -- except for Harrah's, of course, which is in a class of its own when it comes to awful table games. The new Fitzgeralds owners who bought it out of bankruptcy will probably soon be putting it back into bankruptcy.

It appears that the current business plan for some Reno casinos is for present ownership to loot as much from them as quickly as they can, then let them go under. As a staunch Reno supporter for a decade, and as one who makes at least fifteen trips a year to Reno, I am truly sorry to see these casinos rotting from within and beginning their death spirals.

Reno casino failures within the last few years:

Speakeasy
Sundowner
Golden Phoenix
Baldini's (downgraded from a casino to a slot house)

I predict none of the following will survive another five years under their present ownership and incompetent management, if they survive at all. The current Reno-area Casino Death Watch List:

Siena
Fitzgerald's
Sands Regency
Boomtown
Diamond's
Silver Club
Rail City
Grand Sierra (though it has recently mounted a comeback, and has the best chance of survival)

A "bonus" -- the South Tahoe Casino Death Watch List:

Horizon
Montbleu

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Opinions and Commentary on the Gaming Industry: www.TheBearGrowls.com

[JD]

I'm inclined to agree with lvbear. I was a huge booster of the Siena when it first opened and a couple of years following.

Of course my list of favorite casinos include the Comstock and Pioneer.

It seems every casino I like, eventually goes downhill. Maybe it's cause and effect. They run me off, they go out of business.

Or maybe it's because " RENO'S BEST BARTENDER " no longer works there.

I do know that the Siena must spend more of it's drop on legal fees that anyother casino in town.

What a shame.

[hawk]

JD, why the legal fees.

It is very sad though. It's getting creepier and creepier. They seem to be getting what they are asking for.

[JD]

"It's getting creepier and creepier." ?? THIS from a guy that picks dancing man boobies for an avatar?

Well, before they even opened they had a HUGE beef with Acres gaming that installed the non working tracking system. This later became a lawsuit/counter lawsuit with IGT, the biggest supplier of slots in the world. IGT would counter sue.

The swimming pool was leaking before it was a year old. AND IT'S RIGHT ABOVE THE BALLROOM!! Another lawsuit.

They've been sued by suppliers, had suppliers steal from them, paid for the same deliveries multiple times, sued by contractors, ex employees (a result of huge turnover) , an outfit called G&S Acquisitions, Inc. and customers. They've been Plaintiffs, Defendants, Third party defendants, and appeal filers.

If you go to Washoe Co. court records:

http://www.ccwashoe.com/public/ck_public_qry_cpty.cp_personcase_setup_idx

Then type in: "Wild Game Ng, LLC" , parent Co. of Siena Hotel Spa Casino, you'll get an idea od how many cases they have going.

You can do the same with the dba "Siena Hotel Spa Casino". Here, you'll find another lawsuit by a slot manufacturer, WMS Gaming:

http://www.wms.com/games.php

They must spend a LOT on lawyers. And the bartenders have to call the V.P. of Top Shelf liquors to serve a customer a call bourbon.

Luckily, they have comfy beds. Otherwise I might trash talk them.

Hey, do you think I can buy one of those beds at their auction?

[hawk]

LVBEAR, thanks very much for sending this. Sounds like I should consume my comps quickly before they go under.