How can casinos build billion dollar hotels?
A new casino bragged about their success at:
$25,000/hr x 24 hr/day x 30 day/mo = $18,000,000/mo Simplified casino expenses: $1 billion loan @ 4.0% (20 yrs.) = < -$ 6,000,000/mo > 1600 employees @ $22/hr x 170 hr/mo = < -$ 6,000,000/mo > Extra = < -$ 1,000,000/mo > Profit = $ 5,000,000/mo
In the short run (<100 bets), you win 62% of bets(max).
In the long run (100,000 bets), you loose 99.85% of the bets(min).