The Company is a developer, owner and operator of gaming facilities and related lodging and entertainment facilities in regional markets in the United States and Internationally.
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The charts speak for themselves. With the current economic chaos, people have less disposable income and dollars for any type of entertainment will fall off dramatically. They are trying to keep their homes out of forclosure and survive. The stock may be of some interest at a lower price and 1-2 years down the road.
They can continue to give away free motel rooms in an effort to try to pack the place, but in the long run. I don't see it working, in my opinion. Trying to do it on volume and forget the high rollers? The Bettendorf location has downsized from a VIP services area with several desks and hosts, to one person at one frickin' desk. It has all the signs of a business in trouble.The Casino has done it to themselves, really. Few employees at peak times, long lines, cut backs in comps and the list goes on. It's just poor management, plain and simple.It's the customer service or lack of it that has really hurt. Management took a gamble and they lost.Did a sore loser write this post? No, not all. I don't mind losing in a casino, but on a scale of 1-10, I would give them a 1 and customer service that is something far less than satisfactory. The slots don't seem to hit well and there is a definite lack of entertainment value (in my opinion).If the state of Iowa passes the no smoking ban bill that is currently being voted on and if it includes casinos in Iowa...look out! If the 3rd quarter report is positive, you may see a dead cat bounce from this stock (so hopes the insiders). The way they have loaded up on stock, they're hoping for something, but nothing can make up for bad management, competition and a faltering economy. This stock in like putting your last $1 in a slot machine and praying....and I wouldn't have a lot of faith in that.
There is no entertainment value (at least at the Bettendorf or Davenport IA locations). Take your pick of slots and out of many different machines and numerous trips, they just suck it all in. It has been that way for the last several months and it wasn't that bad before. And it's not just me. Even the people that are bussed in or that came on their own from out of town, are saying the same thing. It's like there is no back and forth play. You simply put your money in a machine and in a few spins...it's gone! Well, that's gambling. No, not from my many years of play. It's many times worse, there's no entertainment whatsoever and players are NOT happy. They still list the overall payback at 92.1%. I don't know, but it's bad.How bad is it? Well, I have been a customer there way back to the days of when Lady Luck owned the Casino. I gave up on tables games a couple of years ago as they keep the same old dealers. And so have most of the locals. No you won't do any better against a new dealer, but people think you have a better chance, at least, at first!Now they've cut my comps in half because, ya, needless to say I have less play. When my wife and I can walk in with several hundred a piece and walk out in an hour or less and having not hit anything on numerous trips...we give up. A person in the past could play anywhere from 3 hours to several hours. Ya, we usually still left broke and that's the way it goes, but at least you felt like you got something in return.The food and service at Faradays is horrible. It had been going down hill for the last few months, but after the last visit, we would not return. The lobster tails are like rubber (at $45 or so each). Ya, I know it's from comp money, but I earned those comps! I paid dearly for them.I've tried to stay with them as long as possible, but we will seek other places to play ever weekend (and some weekdays). It is safe to say, we have no plans to visit any Isle of Capri property for quite some time.