The Palms Casino Story
How it got to be so hip
by Jerry Wilson
This is the first in a series of hopefully many articles covering the Palms Phenom...
How an off-strip casino got to be the hippest casino resort in Las Vegas.
From brand name chefs such as Andre, to the GhostBar, to Skin, and many other of the hottest night spots with the clearest and most breathtaking views of Vegas, the Palms literally has it all. And, those that have it all, want more fun, and get it at the Palms.
Decried initially as the Rio was, as not hip because it was off the strip, the Palms was deemed a potential failure. Nobody says that anymore, even the uninventive corporate bottom-line pursuing bureaucrats that have taken over the casino business. Again, conventional wisdom strikes out.
Arguably, it might have been an accident. Who'da thunk an MTV reality series based at the Palms would transform it into the Mecca of Cool?
This was amidst rejections from strip casinos that had been approached. They unwisely concluded TV filming would be disruptive to their business... Duh? How about people coming in because of it? We'll never know what's behind these decisions. They would appear to be prudent at the time. But it's the wild and crazy offbeat marketing ideas that make money. And the Palms continues to build on that success, and its own unique formula: Skin, skin and more skin, a view, glass ceilings and floors, and the finest food and entertainment in Las Vegas.
This is significant, potentially to any advertiser, merchandiser or marketer, as those attracted to hip and cool things continue to be the coveted 17 - 34 age group, or read, 'foot-loose and fancy-free' for the most part - with money. Often unmarried, unfettered and or between marriages. As we know from the Brittany deal, Vegas marriages can be short (Brittany has the dubious honor of the shortest marriage in Vegas history - 'I do' done and undone in the same trip).
Then again, was the Palms always inherently cool? Did its inherent coolness contribute to the success of MTV's 'Real World?" Certainly, it's been successful before, during and after, and now today, even more so.
Contests such as "The Palms Girl" have been milked for all they're worth, and frenzied party people can't get enough. After all, the Palms has become "The Party Place" - although other places such as the Beach, The RA and many casino nightclubs try to claim that privilege. It's not the same. Not anymore.
The Palms Story could be equated to Starbucks. What's the connection? You might say. The Palms is a casino that's too cool for most people. Starbucks is more or less a trendy upscale coffee place. Not for everyone. Well, upon closer examination you'll see that the common thread is 'culture.' Whereas Starbucks created a 'coffee culture,' the Palms created a very cool, very hip 'casino culture,' that's not only hard to define, but virtually impossible to pin down.
While many casinos, particularly a 'locals casino' like the Palms was originally intended to be, fought for the lucrative 50 plus or retiree market, the Palms inadvertently created a machine to win the pocketbooks of the moneyed young traveler demographic. Well-heeled celebrities and wealthy jetsetters with money to burn.
Ghost Bar - The Place to be Seen
With its glass floors and breathtaking views of the Las Vegas Strip, the Ghost Bar is clearly the place to be and be seen at.
Aladdin Attempting to Recruit Top Palms Management for Bankrupt Aladdin
The Palms' management talent has not gone unnoticed, hungrily eyed and stalked by such denizens of the deep as Planet Hollywood.
Word has it Planet Hollywood is raiding top casinos to head up management at its
new casino
To be named "Planet Hollywood Hotel and Casino,' to replace the ill-fated Aladdin, which despite its name has had little magic in its history, and successive generations of management have declared bankruptcy over the past decade or so. Time to let the Genii back out of the bottle and make a few serious wishes.
Planet Hollywood itself has fared no better, closing many of its outlets around the world. But that's another story. Planet Hollywood has allegedly recruited General Manager Mike Mecca (what's in a name?) from Green Valley Ranch Station, another hip and trendy casino that despite its off-strip location in Henderson, managed to develop its own beautiful people jetsetter niche.
Planet also have their eyes on - and justifiably so - Marko Greisen, who recently held a birthday bash with 1,000 at the Palms' Skin Pool Lounge last month. The gala event was attended by such luminati as Robin Leach, Dennis Hawkins, Jamie Foxx and wealthy hotel owner George Maloof. Grieisen was responsible for making Ghostbar one of the hippest evening destinations in Las Vegas.
Let it Ride Poker: Fourth Card Strategy
Back to the archive | Printable version
At this point in the game, we have to make a decision based not only on the three cards that we were dealt, but also on the fourth card, the first of the dealer's exposed cards.
Since at this stage we have made our first decision, and now know 80% of the hand, our options, and possibilities, become even more limited. Once again, we are faced with the question, should we let our money ride or not? That all depends on what you had from the start, or what has developed with the dealer's exposed card.
Just as we do during the third card strategy, we will make our choice based on the existing possibilities of the hand. We will play only those hands where we have a positive expectation for winning, and remove the bets from the second circle for those hands where the expectation is negative. In some cases, where we have the no-brainers, that is a guaranteed win (a pair of 10's or better) the decision is already made. We keep the second bet up.
There will also be times when we have hands that while not guaranteed, still have sufficient strength and potential to warrant letting the second bet stay. Four cards to a royal flush is a good example of this. In that instance you have numerous possibilities, royal flush, straight flush (depending on the needed card), flush, straight or even a high pair. In fact, if the straight flush is open-ended, the odds for drawing it is about 22-1. That's a big jump from almost 650,000-1, the odds for drawing a royal flush. Most of the time, however, this will not be the case and the best coarse of action will be to remove the second bet, and add it back into our bankroll.
Now lets look at the rules for playable hands.
Below is listed the various hands where you will let the second bet ride. These are the only hands where it is to your benefit to keep as much money in action as you can. Afterwards, we are going to take a look at those hands which people make mistakes on most often, and discuss why playing them works against the player.
Rules for Playable Hands
Four of a Kind. This is an easy one for a decision. Since this hand is a guaranteed winner, paying out at 50-1, there is no question that for this hand you should let your bets ride.
Three of a Kind. Not only is this an excellent hand to be sitting with because you are guaranteed a payout of 3-1 for each of your bets, it also has room to become an even better hand, such as four of a kind, or a full house. Let the second bet ride.
Two Pair. This hand is also an instant winner, paying out at 2-1, and it, too, can be improved upon to a full house. Do not remove the second bet.
Pair of 10's or Higher. This is one of the more common hands that you will see, occurring about 20% of the time. It is a classic no-brainer that can even be improved on. Let the bet ride.
Four Cards to a Royal Flush. While this bet may not be a guaranteed winner, there are so many possibilities that it is to your advantage to let the second bet ride. You have a hand where you have a possible royal flush, straight flush, flush, straight or high pair, most of which will pay extended amounts.
Four Cards to a Straight Flush. While this hand may not have the same extended possibilities as the four to a royal flush, it still can yield some excellent results. You have a possible straight flush, flush, straight, and high pair if you have any high cards.
Four to a Flush. Since you've already beaten the 23-1 odds on filling a flush with three cards, and reduced the odds to about 4? -1 for a hand that will pay 8-1, you've got the makings of a good statistical edge. This hand may also be assisted with any high cards that could result in a winning pair, though this is not necessary. The hand should always be played.
Four Cards to an Open Ended Straight. This hand also has possibilities and should be played, though without any high cards in the hand there will be no winning pairs possible, and it will eventually balance out in the long run. The odds for drawing the fifth cards to an open-ended straight are 5-1, the exact odds that this hand pays out. Neither you, nor the casino has the edge for this hand.
Four Cards to a High Straight. This is the most marginal of all of the hands that we will play. The odds for drawing to an inside straight are 11-1 against you, but that value is buffered by the sheer amount of high cards that comprise your hand, which could yield a winning pair. This bet should ride.
Avoiding Non-Playable Hands
At times in Let it Ride, we are confronted by hands that seem to show promise, but in fact are best discarded, as they hold either too limited a potential, or offer payouts lower than the odds for making the hand. These hands are:
Inside or one-way straight. These hands just do not have the mathematical likelihood to be considered a good hand. A straight pays off at 5-1 in this game, and the chances of drawing to an inside straight are 11-1. The casino odds do not justify letting this bet ride, even if there is a high card involved.
The Palms Casino Story
How it got to be so hip
by Jerry Wilson
This is the first in a series of hopefully many articles covering the Palms Phenom...
How an off-strip casino got to be the hippest casino resort in Las Vegas.
From brand name chefs such as Andre, to the GhostBar, to Skin, and many other of the hottest night spots with the clearest and most breathtaking views of Vegas, the Palms literally has it all. And, those that have it all, want more fun, and get it at the Palms.
Decried initially as the Rio was, as not hip because it was off the strip, the Palms was deemed a potential failure. Nobody says that anymore, even the uninventive corporate bottom-line pursuing bureaucrats that have taken over the casino business. Again, conventional wisdom strikes out.
Arguably, it might have been an accident. Who'da thunk an MTV reality series based at the Palms would transform it into the Mecca of Cool?
This was amidst rejections from strip casinos that had been approached. They unwisely concluded TV filming would be disruptive to their business... Duh? How about people coming in because of it? We'll never know what's behind these decisions. They would appear to be prudent at the time. But it's the wild and crazy offbeat marketing ideas that make money. And the Palms continues to build on that success, and its own unique formula: Skin, skin and more skin, a view, glass ceilings and floors, and the finest food and entertainment in Las Vegas.
This is significant, potentially to any advertiser, merchandiser or marketer, as those attracted to hip and cool things continue to be the coveted 17 - 34 age group, or read, 'foot-loose and fancy-free' for the most part - with money. Often unmarried, unfettered and or between marriages. As we know from the Brittany deal, Vegas marriages can be short (Brittany has the dubious honor of the shortest marriage in Vegas history - 'I do' done and undone in the same trip).
Then again, was the Palms always inherently cool? Did its inherent coolness contribute to the success of MTV's 'Real World?" Certainly, it's been successful before, during and after, and now today, even more so.
Contests such as "The Palms Girl" have been milked for all they're worth, and frenzied party people can't get enough. After all, the Palms has become "The Party Place" - although other places such as the Beach, The RA and many casino nightclubs try to claim that privilege. It's not the same. Not anymore.
The Palms Story could be equated to Starbucks. What's the connection? You might say. The Palms is a casino that's too cool for most people. Starbucks is more or less a trendy upscale coffee place. Not for everyone. Well, upon closer examination you'll see that the common thread is 'culture.' Whereas Starbucks created a 'coffee culture,' the Palms created a very cool, very hip 'casino culture,' that's not only hard to define, but virtually impossible to pin down.
While many casinos, particularly a 'locals casino' like the Palms was originally intended to be, fought for the lucrative 50 plus or retiree market, the Palms inadvertently created a machine to win the pocketbooks of the moneyed young traveler demographic. Well-heeled celebrities and wealthy jetsetters with money to burn.
Ghost Bar - The Place to be Seen
With its glass floors and breathtaking views of the Las Vegas Strip, the Ghost Bar is clearly the place to be and be seen at.
Aladdin Attempting to Recruit Top Palms Management for Bankrupt Aladdin
The Palms' management talent has not gone unnoticed, hungrily eyed and stalked by such denizens of the deep as Planet Hollywood.
Word has it Planet Hollywood is raiding top casinos to head up management at its
new casino
To be named "Planet Hollywood Hotel and Casino,' to replace the ill-fated Aladdin, which despite its name has had little magic in its history, and successive generations of management have declared bankruptcy over the past decade or so. Time to let the Genii back out of the bottle and make a few serious wishes.
Planet Hollywood itself has fared no better, closing many of its outlets around the world. But that's another story. Planet Hollywood has allegedly recruited General Manager Mike Mecca (what's in a name?) from Green Valley Ranch Station, another hip and trendy casino that despite its off-strip location in Henderson, managed to develop its own beautiful people jetsetter niche.
Planet also have their eyes on - and justifiably so - Marko Greisen, who recently held a birthday bash with 1,000 at the Palms' Skin Pool Lounge last month. The gala event was attended by such luminati as Robin Leach, Dennis Hawkins, Jamie Foxx and wealthy hotel owner George Maloof. Grieisen was responsible for making Ghostbar one of the hippest evening destinations in Las Vegas.
Let it Ride Poker: Fourth Card Strategy
Back to the archive | Printable version
At this point in the game, we have to make a decision based not only on the three cards that we were dealt, but also on the fourth card, the first of the dealer's exposed cards.
Since at this stage we have made our first decision, and now know 80% of the hand, our options, and possibilities, become even more limited. Once again, we are faced with the question, should we let our money ride or not? That all depends on what you had from the start, or what has developed with the dealer's exposed card.
Just as we do during the third card strategy, we will make our choice based on the existing possibilities of the hand. We will play only those hands where we have a positive expectation for winning, and remove the bets from the second circle for those hands where the expectation is negative. In some cases, where we have the no-brainers, that is a guaranteed win (a pair of 10's or better) the decision is already made. We keep the second bet up.
There will also be times when we have hands that while not guaranteed, still have sufficient strength and potential to warrant letting the second bet stay. Four cards to a royal flush is a good example of this. In that instance you have numerous possibilities, royal flush, straight flush (depending on the needed card), flush, straight or even a high pair. In fact, if the straight flush is open-ended, the odds for drawing it is about 22-1. That's a big jump from almost 650,000-1, the odds for drawing a royal flush. Most of the time, however, this will not be the case and the best coarse of action will be to remove the second bet, and add it back into our bankroll.
Now lets look at the rules for playable hands.
Below is listed the various hands where you will let the second bet ride. These are the only hands where it is to your benefit to keep as much money in action as you can. Afterwards, we are going to take a look at those hands which people make mistakes on most often, and discuss why playing them works against the player.
Rules for Playable Hands
Four of a Kind. This is an easy one for a decision. Since this hand is a guaranteed winner, paying out at 50-1, there is no question that for this hand you should let your bets ride.
Three of a Kind. Not only is this an excellent hand to be sitting with because you are guaranteed a payout of 3-1 for each of your bets, it also has room to become an even better hand, such as four of a kind, or a full house. Let the second bet ride.
Two Pair. This hand is also an instant winner, paying out at 2-1, and it, too, can be improved upon to a full house. Do not remove the second bet.
Pair of 10's or Higher. This is one of the more common hands that you will see, occurring about 20% of the time. It is a classic no-brainer that can even be improved on. Let the bet ride.
Four Cards to a Royal Flush. While this bet may not be a guaranteed winner, there are so many possibilities that it is to your advantage to let the second bet ride. You have a hand where you have a possible royal flush, straight flush, flush, straight or high pair, most of which will pay extended amounts.
Four Cards to a Straight Flush. While this hand may not have the same extended possibilities as the four to a royal flush, it still can yield some excellent results. You have a possible straight flush, flush, straight, and high pair if you have any high cards.
Four to a Flush. Since you've already beaten the 23-1 odds on filling a flush with three cards, and reduced the odds to about 4? -1 for a hand that will pay 8-1, you've got the makings of a good statistical edge. This hand may also be assisted with any high cards that could result in a winning pair, though this is not necessary. The hand should always be played.
Four Cards to an Open Ended Straight. This hand also has possibilities and should be played, though without any high cards in the hand there will be no winning pairs possible, and it will eventually balance out in the long run. The odds for drawing the fifth cards to an open-ended straight are 5-1, the exact odds that this hand pays out. Neither you, nor the casino has the edge for this hand.
Four Cards to a High Straight. This is the most marginal of all of the hands that we will play. The odds for drawing to an inside straight are 11-1 against you, but that value is buffered by the sheer amount of high cards that comprise your hand, which could yield a winning pair. This bet should ride.
Avoiding Non-Playable Hands
At times in Let it Ride, we are confronted by hands that seem to show promise, but in fact are best discarded, as they hold either too limited a potential, or offer payouts lower than the odds for making the hand. These hands are:
Inside or one-way straight. These hands just do not have the mathematical likelihood to be considered a good hand. A straight pays off at 5-1 in this game, and the chances of drawing to an inside straight are 11-1. The casino odds do not justify letting this bet ride, even if there is a high card involved.