Last month, I wrote about how casinos aren’t worried about card counters. Despite a blackjack player taking the Tropicana Casino for $5.8 million over a month’s time, single-handedly ruining their month and putting them at their first blackjack loss, events like that are few and far between. In the grand scheme of things, events like that actually help casinos due to the publicity.
Having said that, you really don’t want to have it happen twice within a short amount of time. Unfortunately for the Tropicana Casino, it did. Just a few weeks after the man, now identified as Don Johnson, won $5.8 million from them at the blackjack tables, someone else took them for $5.3 million. That’s $11 million lost from only two players only weeks apart.
This time it was a craps player, who, like the previous blackjack player, took advantage of the high-stakes games. The casino refuses to back down from the high-stakes strategy, though, insisting that in the long run it will help them. In the meantime, even if they’re paying out big winnings, at least they have increased excitement for the casino.
Last year, Carl Icahn bought the Tropicana Casino after it went bankrupt. In an effort to make back lost money and bring in business quickly, they opted for an aggressive strategy of offering high-stakes games. It was working for a while, until these two players came along. The casino maintains that they can handle these setbacks, though, and no adjustments to staff or comps will be made. According to CEO Tony Rodio, who recently took over the job, Icahn plans to invite Johnson back to the casino. That shows that they aren’t afraid, don’t hold a grudge and, most importantly, think they can win that money back.