That's why they have huge bad debts, that must be gradually written off. Since it is pretty arbitrary at what point they write off a bad marker, you can imagine what kind of bad debt they have on the books that are not disclosed. They need good years to write those off.

Also one of their big customer bases China it is completely illegal to promote gambling. There are a bunch of hosts in jail over there. So that's why they use junket operators for Macau as their collectors; but it ends up being that the junket operators end up using credit, so the same thing happens...they go under...and the casinos are holding the bag...big bubble over here...

 

Finally found this thread!

Line of credit - pros
They wait 40 + days to deposit your marker = interest free loan?

Line of credit - cons
They wait 40 days, and now you are going to Vegas in 3 days and they put a hold on your LOC for 5 to whatever days to ensure it clears. I don't remember high number because I was pissed. Yeah I can get it cleared by showing them it deposited or having host unlock it, but really, this is why I called last week when it still hadn't gone through my bank! Ugh. I know my budget is small this weekend , so I don't even really need to use the LOC, but I like to use it and not bring cash. Also helps me lock in win by paying off markers before I leave.

Ok, rant over, I feel better.

 

I've heard of V/P depositing markers right away without notification. Their response was that markers taken exceeded play.

At one point I had 3 Vegas trips over about 7 weeks. I always pay my markers before I leave. I wasn't dealing with a domestic bank. My checks were taking up to 2 months to clear. It was eating into my line and I was having to get TTOs.
Their records showed that I had paid, but the checks had not cleared.

 

I'd been on a pretty good streak last few trips where I'd brought enough money that even though I lost I paid them all off before I left. This last nasty one, it took the sting off a bit to delay paying them and just letting them deposit in their own sweet time. ; ) except now I'm just annoyed. Seems easy enough to rectify, I'll email my host, but a damn PITA!

 

2 months is a really long time by the way. Side bar - what does TTO stand for, I'm sure it'll be obvious but I can't for the life of me figure it out. I've gathered by context a few times it generally means a (temporary?) extension of your LOC when are tapped out, but the not knowing what the letter stand for is driving me batty!

 

TTO = This Trip Only. It is an increase in your credit line above your credit limit.

 

TTO means this time only

 

Easiest way to avoid the hold on the LOC if you have another trip planned and the checks may or may not have cleared by the time you arrive, is to contact your host and tell them you are bringing cashiers checks to pay for the previous markers. Take a picture of the cashiers check before you arrive into town, and they can verify that the checks are legitimate, give those to the cage before any play, and you will be good to go. Actually you will get a little extra time since they know you are bringing cashiers checks, they do not deposit the original markers

 

A huge pro for me is that it's a way to avoid atm fees. I don't like to have a lot of money on me when I travel so it's nice.

 

I am glad someone asked that. It has been driving me crazy.