New UNLV podcast: Steve Cyr

We’ve got an outstanding new podcast up over at the UNLV Center for Gaming Research. You’ve really got to hear it to believe it:

07-April 30, 2009

Steve Cyr, "From Hotel School to the Celebrity Suite: My Career in the Casino Industry”

Cyr, a legendary Las Vegas casino host, shoots from the hip as only he can in this dynamic, highly-informative talk. Learn how a casino host climbs the career ladder, see behind the scenes of high rollers suites, and much more.

Download audio file (mp3)

Download flyer (pdf)

Whale Hunt in the Desert: Secrets of a Vegas Superhost from Huntington Press

UNLV Center for Gaming Research: Podcasts.

Cyr really cuts loose, as I’m told he usually does in his talks. Did he kick Starlight Express’s ass when he was at the Hilton? Yep. Does he care whether his players win or lose? Yep. If you like going to casinos and are curious about what it’s like to host high rollers, or just want an insight into the business, this one is for you.

Trop sale soon…really

The Press reports that the Tropicana Atlantic City is almost ready to go on the block:

After a 16-month saga, Tropicana Casino and Resort is one step closer to being sold. New Jersey gaming regulators today authorized the property to be auctioned off in bankruptcy.

Gary S. Stein, the state-appointed conservator overseeing the sale, said he would file a Chapter 11 bankruptcy petition later today to begin the auction process and designate a group of lenders headed by billionaire financier Carl C. Icahn as the leading bidder. Icahn and his fellow lenders have offered $200 million.

The auction is expected to occur in June. Although the Icahn group has been named the so-called "stalking horse," or front-runner, other bidders will have an opportunity to submit higher offers.

Press of Atlantic City, – pressofatlanticcity.com.

Wow, they sure work quickly, don’t they? The Tropicana saga is certainly not the brightest moment for New Jersey casino regulation.

Big talk tomorrow

Yes, we’ve got another hugely interesting talk tomorrow at UNLV: casino superhost Steve Cyr, currently of the Hard Rock, who is the subject of Deke Castleman’s Whale Hunt in the Desert.

The talk begins at 2. You can find more information here. Cyr is a UNLV alum and always has something interesting to say.

Other news from Harmon Avenue: I’ve posted a new resource. a pdf of the top 20 US metro areas and the status of casinos in and around them.

Always check your door

As a former casino security officer, I take a greater concern than some with people keeping themselves safe while on vacation at a casino resort. Often, carelessness and lack of vigilance can lead to burglaries or worse. Since most crimes committed in casinos are crimes of opportunity, you can be proactive and prevent most, but not all of them.

Take, for example, one of the most common hotel crimes: burglary of a hotel room whose door was left slightly ajar. This happens quite often, because people often assume that the door closes behind them. It is, indeed, designed to do that, but air pressure often keeps it from fully closing, so it remains unlocked. There are teams of “push door thieves” who work the Strip, simply walking down corridors and pushing on doors. If one opens, they enter and steal what they can.

I don’t know anything about how this high-profile attempted burglary happened, but it sounds a great deal like a push door operation. From the LVRJ:

An intruder who entered a Las Vegas penthouse suite while "General Hospital" star Kelly Monaco was sleeping was quickly apprehended by police, a source said.

Monaco, who won the first season of "Dancing With the Stars" and co-stars with Spice Girl Mel B in "Peepshow" at Planet Hollywood Resort, was asleep but then heard someone rummaging in her living room area at the hotel.

NORM: Actress suffers unwanted visitor – News – ReviewJournal.com.

This isn’t the first time something like this has happened at the property. Back in 2003, when it was the Aladdin, there was a spate of similar burglaries during the 2003 Radio Music Awards:

Some Las Vegas thief hit the jackpot last night, swiping $1.2 million in jewelry from the hotel room of the rap star Nelly, who was in Sin City performing at an awards show. The burglar also boosted $4500 in cash and electronics equipment from the Aladdin Hotel room of pop singer Michelle Branch, also in town for the 2003 Radio Music Awards. Police said the two rooms, located a floor apart, appeared randomly selected by the crook.
The Smoking Gun: Archive

Again, not knowing exactly what happened, it’s impossible to say, but this could be a standard push door burglary. And it can happen to you.

So next time you stay in any hotel, make absolutely sure the door is locked when you leave. Pull it closed behind you and throw the deadbolt when you’re in it. These are two small things that take only seconds but can save you a great deal of grief.

Book Review: The Madness of March

Alan Jay Zaremba. The Madness of March: Bonding and Betting with the Boys in Las Vegas. Lincoln: University of Nebraska Press, 2009. 228 pages.

Sports betting is one of the most popular, yet least studied, forms of gambling. Researchers have been trying to get inside the heads of slot players for years, and there’s been mathematical studies of card games since the 16th century. But sports betting flies under the radar, like bingo, which is odd for such a widespread betting form.

Alan Jay Zaremba’s The Madness of March is a welcome corrective to sports betting’s analytical oversight. Part participant observer-based ethnography, part academic study, The Madness of March gives a rare insight into sports betting by focusing on one week in one place: the opening round of the NCAA college basketball tournament on the Las Vegas Strip.

Setting his book here, Zaremba is at the epicenter of the year’s most frenzied burst of casual betting. Essentially, Zaremba spends six days in Las Vegas and writes about what he experiences. He correctly reaches the conclusion that most bettors are doing for the fun, not for profit, as nearly everyone he encounters is a 20-50 year old male who’s been coming to Vegas for years during the tournament to place bets, drink beer, watch games, and have fun–though the first three often make the last an elusive goal.

Zaremba is an excellent observer and a good writer; he knows enough to capture the inherent absurdity around him, but usually has a light enough hand to let the reader draw his own conclusions rather than explicitly making the point that most bettors who insist they have a sure thing are delusional. Part of what makes the book fun is the interaction between bettors: each wants to know what the other is betting, and many share their picks and their methodologies, which run from intricate to nonsensical. On almost every page, a bettor fatuously declares that his latest pick is a “lock,” a guaranteed sure thing. It gets monotonous, but it’s true. Towards the end of the book, one of Zaremba’s subjects declares, “Everyone here has a lock, and no one here has a lock.” As the author says, it’s probably the most accurate thing anyone’s said in days.

If you’ve ever wondered why scads of post-college guys spend the better part of a week living on beer and hot wings while feverishly analyzing their next wager, you’ll get an answer in Zaremba’s book. He captures the scene in all of its frat boy inanity, but reserves critical judgment (with a few exceptions). The Madness of March, then, is most valuable as an ethnographic survey of Strip sports betting at its most frenetic: 48 games in 4 days make for a high pressure, drama-filled long weekend, with big bettors and small bettors winning and losing. It’s a fantastic look inside the psychology and sociology of the casual sports bettor, droves of whom descend on Las Vegas every March.

I found only two potential problems with the book. First, the action can get repetitive beyond monotony. At first, seeing Zaremba and his brothers in bets analyze, wager, then live or die with the results is exciting. After two days of this, the bloom comes off the rose. This, however, is much of the point, I suspect, and Zaremba’s weariness, which becomes overwhelming towards the end, is both true to the reality of his subject and his own experiences. Staying on the Strip for six days, drinking an untold number of beers, and betting is exhausting.

My second concern is that Zaremba would retreat to the comfortable cocoon of academic irony. It’s an approach that mars most would-be scholarly looks at the real world: the writer as cynical observer, watching those around him blundering into oblivion and making snide comments that only he, and his oh-so-insightful readers, can appreciate. There’s a good deal of buffoonery in evidence throughout the book, and this would be an easy and safe route for the author to take.

He does not, however. By sharing his own picks, he shows us that he is just as prone to making bad picks as everyone else, because in retrospect no amount of analysis can determine who will beat or cover the spread. It’s a crapshoot that makes a mockery of reason. He doesn’t consider himself to be above the rest of the crowd, and as a mildly self-deprecating narrator, he doesn’t try to lord it over the reader, either.

Best of all, Zaremba follows his main narrative with an epilogue that brilliantly captures the allures of fanhood, and caps the book with as spirited and eloquent a defense of becoming emotionally invested in kids’ games being played by adults as I’ve ever seen.

I’m not being ironic when I say that The Madness of March is a lock. It’s an essential read for anyone who wants to get a better window on one of the more interesting gambling and sports subcultures.

Book Review: Decisions

Shaun Priest. Decisions. Lakeland, Florida: Small Dogma Publishing, 2008. 233 pages.

Often, fiction does a better job of capturing reality than statistics and figures. Sometimes, there are no reliable numbers out there. Sports betting is a perfect example. There are not even solid estimates of the total amount bet illegally on sports each year because, by definition, such betting isn’t documented by regulators.

But in Decisions, Shaun Priest gives the reader a look at the life of one illegal gambler in a way that brings home the reality of the world of bookies and their customers. Priest’s main character, Jack Fitzgerald, is a hotshot ex-jock and salesman for CM Solutions, a Boston-area company that specializes in selling software systems to hospitals. “Fitzy” is married, with a young son, plays basketball in an adult amateur league, and seems to have it all. But he’s got a secret: he’s a compulsive gambler.

Running up debts at Nevada casinos and Foxwoods is bad enough, but when Fitzy starts placing $10,000 bets with Justin Bunar, an up-and-coming Boston bookie, he gets in over his head. He finds himself in debt to Bunar, under investigation by the FBI, and in trouble at work.

Priest does two things very well: he builds the action towards a climax, bringing several plot-lines to a head at the same time, and he creates complex, though not necessarily deep, characters. Take, for example, the bookie Bunar. A lesser author would make him a cunning, manipulative evil genius who takes advantage of Fitzgerald’s weakness for gambling. But Priest shows a bookie who is manipulative and occasionally brutal, but also principled and sometimes compassionate. One of the most interesting aspects of Decisions is that, consciously or not, much of CM Solutions is mirrored by the underworld structure of Boston organized crime. Bunar is a big man in his field, but he’s subordinate to “Skinny,” a major mob boss, who negotiates deals with out-of-town criminals without consulting Bunar. Similarly, Fitzgerald is a glib super-salesman, but he’s under the thumb of his executive vice president, Kevin.

Another thing I found interesting about Decisions is that is opens up the reader to the world of high-pressure sales. This isn’t as interesting to most people as the mob, or hardcore gambling, but I found Priest’s rendering of Jack Fitzgerald fascinating–a guy who thinks in terms of management-training manuals when threatened by a mobbed-up bookie might seem like a caricature, but it actually makes sense once you get into the character.

Fitzgerald falls so hard for gambling because, as a dominating, athlete, he’s used to winning. The reader sees how, with success at home and work, he just assumes that he’ll win at betting as well. Of course, that’s where he’s wrong, since betting against the spread is pretty much a coin flip. But he’s not just an innocent who falls victim to his own hubris: throughout the novel, he makes some decisions that show he’s no boy scout. This gives Fitzgerald complexity and makes Decisions that much more compelling.

At it’s heart, Decisions is a page-turner. It’s not a cerebral or contemplative tome, but it will keep you reading. This book would make a great movie.

You can order Decisions here: www.shaunpriest.com.

New podcast lecture up

We were lucky to host an outstanding Gaming Research Colloquium talk today: Dr. Nicholas Tosney spoke about some parallels between early modern British gambling and 20th century Las Vegas gambling. Great stuff that I highly recommend.

Nick Tosney: Commercialization, Crime, and Casinos – Center for Gaming Research.

Subscribe to the UNLV Gaming Podcast in iTunes, or just listen to the mp3 yourself here.

Kids addicted to gaming

Problem gambling is classified as an impulse control disorder, and it looks like it may have company. An Iowa State study says that many children suffer from addictive video gaming. From USA Today:

Nearly one in 10 children and teens who play video games show behavioral signs that may indicate addiction, a new study reports.

The study found 8.5% of those who played had at least six of 11 addictive symptoms, including skipping chores and homework for video games, poor test or homework performance and playing games to escape problems. The research, which is published in the May issue of the journal Psychological Science, is based on a 2007 Harris poll of 1,179 U.S. youngsters, the first nationally representative poll on the subject.

Exhibiting six of 11 symptoms can lead to a diagnosis of addiction, such as pathological gambling. Iowa State University researcher Douglas Gentile adopted the addiction criteria for gambling because there is no current medical diagnosis of video-game addiction.

Study: Video-game-playing kids showing addiction symptoms – USATODAY.com.

This seems to be a rather casual study; the authors just substituted “video gaming” for “gambling” on a screening checklist. But it raises interesting questions about the nature of addiction for both video games and gambling. For example, is the addiction to the activity of gambling, as it appears to be with video gaming? In that case, it’s not really about the money, but about the activity. That’s got to have some implications for treatment.

Book Review: The Towering World of Jimmy Choo

Lauren Goldstein Crowe and Sagra Maceira De Rosen. The Towering World of Jimmy Choo: A Glamorous Story of Power, Profits, and the Pursuit of the Perfect Shoe. New York: Bloomsbury, 2009. 215 pages.

This is probably not the best book to read after American Rust. The transition from the gritty, downbeat novel to this superficial tale of an ultra-luxury brand was jarring, to say the least. Still, since the casino business has more than one parallel with high-end retail, I figured that I’d find something of value in The Towering World of Jimmy Choo. Unfortunately, I didn’t.

The Towering World of Jimmy Choo
isn’t about Jimmy Choo, the man–he disappears around page 80–but the company Jimmy Choo, which was founded by London heiress and party girl Tamara Yeardye. Yeardye doesn’t come across as a very sympathetic character. With pronouncements like “If you live in LA and you haven’t been to rehab, you’re just not cool,” she sounds every bit the spoiled young socialite.

Choo, on the other hand, is a Chinese immigrant to the UK, via Malaysia, who followed his father into the profession of shoe-making but, after years of learning and work, became a sought-after couture shoemaker. In 1996, Yeardye convinced Choo to go into the mass-production shoe business; they formed a company called Jimmy Choo, Ltd., which produced a ready-to-wear collection and opened a London boutique.

The authors chiefly follow JC Ltd’s progress from start-up to success to acquisition, with no real explanation of what made Jimmy Choo’s shoes different from anyone else’s. There aren’t any descriptions of the shoes, which become tangential to the main story, the managerial and financial machinations at Jimmy Choo, Ltd.

It’s a shame, because there’s definitely a great story in there. It’s just not the story we get in the book, which plods from boardroom to red carpet, alternately bogged down in the financial reports and celebrity-obsessed. At times, the book has the feel of a press release, with celebrity name-drops and gushy adjectives substituting for real story-telling.

I did find something useful in the book for those who follow casinos: a concise description of private equity firms that, in retrospect, makes it clear that more questions should have been asked in the Great Going Private tent sale of 2007:

Undoubtedly the easiest way to generate great returns on investment for private equity is through financial engineering: using large quantities of debt (rather than equity) to finance the purchase of a company, and then paying back those loans with the profits generated by the companies themselves. This clearly adds risk to the now more heavily leveraged companies, as the margin of maneuver (and error) with highly indebted balance sheets is much smaller. (p. 97, emphasis mine)

I wish the rest of the book were that informative, or interesting.

The Towering World of Jimmy Choo feels superficial: it’s obviously cobbled together from interviews with some of the major players, with no real depth to it. More research might have added some more nuance and atmosphere, but the book really feels hastily-written and just doesn’t do a good job of creating empathy or even intrigue.

Extreme Makeover: Sports Betting Edition

Cops in Royal Oak, Michigan, have gotten their digs renovated–thanks to bookies. From the Chicago Tribune:

The second floor of the citys police station has a new look thanks to money seized a decade ago from a sports gambling operation.

The department put up almost $34,000 for the $52,000 renovation completed Wednesday, most of it from money seized in 1999 when officers broke up a high-stakes football betting operation.

"It was a Super Bowl party on steroids," interim Chief Christopher Jahnke told The Daily Tribune. "We took a lot of money from the scene."

Vice forfeiture laws allow the department to keep and use money seized in gambling and prostitution cases.

"We were looking for the proper way to spend it," Jahnke said, and the upstairs area hadnt been updated since the building opened 46 years ago.

"We used to get complaint after complaint that this was a dirty, dingy place," he said.

Now it has upgrades, including new carpeting and tiling, updated lunchroom counters and secondhand but good-quality furniture, including 15 desks, two conference tables, 30 chairs and lockable file cabinets.

Royal Oak cops renovate station with seized cash — chicagotribune.com.

I don’t know exactly what about this story is funny, but I like the irony of the proceeds of an illegal gambling operation funding the police department’s renovations.