The Shocking $22M Casino CEO Scandal Revealed! | Vegas Pauly C DSH #633

Tom Reig made a statement in 2021 when he closed the lounges in the hotel casinos.

He said,

it's not our job to feed these people.

Let them go to McDonald's on the way home.

How in God's name could you be making $22 million a year and feel that you don't even want to go out of your way to feed your own patrons?

That's what I cannot put together in my head.

All right, guys, we got the most viral person in Vegas right now.

I think Vegas Pauli He.

Thanks for coming on, man.

I don't know if I'm the most viral, but you get a lot of views, dude.

I get a lot of views.

Yeah, I get a lot of engagement.

I think people enjoy.

I try and make things interesting.

I try and find things that I find interesting and other gamblers find interesting.

So sometimes it comes together.

And I like that you do it from an open mindset.

You're not going in there with an agenda.

Well, you know, I was just telling the girl that I met in the room in there.

Yeah.

You know, you have situations where there are casino hotels that will not engage me.

They do not like me.

I use Station Casino as an example.

because even though they told me to take down a video of the durango and even though social media they will not talk to me and i'm sure they're no fan of vegas policy sea because when they made me take down that video i made fun of them for it uh it's still an amazing corporation amazing quality place i don't care if they go online and they say we hate vegas but it doesn't matter the red rock green valley and the durango wow i mean

when i went to the green valley i said i this is one of the most beautiful places i've seen in las vegas this is better better than 80% of the hotels on the strip.

Then I went to Red Rock and I went, oh my God, they have an even better one.

And it's obviously the same architect at the Durango that they used at Red Rock because you can see the style outside.

And it's just an amazing place.

I mean, such a quality corporation.

And they make money and they have a good capital structure.

So it doesn't matter that they don't like me.

Wait, what was the video that they wanted taken down?

So this is what happened.

I got an invite from a guy named Cameron, who's a great guy.

He's a local guy in Vegas.

He's a promoter.

And he said, Vegas Paulici, I'm at the Bel Air.

Come down on Saturday night.

Now, the casino hotel was opening up on Tuesday.

He said, come down on Saturday night.

You can do a video of the casino.

And, you know, you'll have a jump on everybody else.

I said, okay.

I ran down there with Jose, the taco guy, my partner.

He drove me over there.

And I went inside and I met Cameron in Bel Air.

And I said, okay, Cameron, now I'm going to go do my video in the casino.

The casino was not yet open.

There were security guards everywhere, but there was no signs that saying do not film.

So I walked around the casino.

I did six or seven minutes.

This is the new casino at the Durango.

It's beautiful.

This is nice.

That's nice.

The other thing is nice.

I was wiped out because I had done a lot of content creation that day.

I went home.

I went to sleep at nine o'clock.

It already had 100,000 views.

I woke up at 3 o'clock in the morning to 300 and some odd thousand views.

I'm like, okay, because usually I do about four hours of sleep.

And a DM from station casinos.

You better take that video down.

You were not authorized to film in our casino.

I went,

okay.

Now the reason I go okay like that almost gleefully, almost joyfully is because

now I have a story that I'm going to tell for the next 10 years how stupid their social media is.

What is the big deal if that casino video stayed up until Tuesday and jumped every other content creator?

It was a positive video.

They watched it.

They watched me say how beautiful their casino was because it's a beautiful casino.

And by Tuesday, it would have been up there.

And so that, you know, when I see stupidity like that, I talk about it.

Dang, that's a shame.

So So did they ban you or did they just said take you?

They didn't ban me, but they don't talk to me.

Oh, wow.

Because after that, and this is where I'm wrong, and this is the kind of stuff that the dinosaur hates.

After that, I walked around saying, Vegas Poli C doesn't need the Durango, which I don't.

Do I need anybody?

I'm not getting paid by a dollar by anybody.

The Durango needs Vegas Poli C.

So when I say that on my live to four, five, 600.

I'm not stroking myself here, semi-rabid fans, you know, because I'm on the live all the time.

Of course, they all go over to the Durango pages and go, Vegas Paul-E C doesn't need the Durango.

The Durango needs Vegas Paul-E C.

They jump on that.

So that's how you turn off people in Vegas.

So because a lot of the stuff that I do is for comedy, a lot of the stuff that I do is for fun, a lot of the stuff that's, it's interesting to me.

Someone said to me the other day, they said, oh, all your videos are negative.

What casino properties are making money?

I said, what are you talking about?

Boyd is making great money.

Red Rock is making great money.

Wynn is making great money.

The Plaza is making money.

The Strat is making money.

You know, when you read the financials of these places, Strat's making money?

Stratt made 18 cents a share last quarter.

Yeah, Strat's doing great because it has a decent capital structure.

MGM did great last quarter.

They're destroying Caesars.

But I find it interesting when you have a bad capital structure or completely incompetent management and they run a place into the ground.

And I would include Caesars in there.

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In the hotel casinos, he said, and I'm quoting him directly from a conference call.

It's not our job to feed these people.

Let them go to McDonald's on the way home.

Now, let me tell you what I find interesting about that.

It's not the fact that he said it.

I could see a nasty person saying that.

I could see a not talented person saying that.

It's not the fact that he feels that way.

This is what blows my mind.

And it'll blow your mind, Mr.

Producer, and it will blow your mind.

How in God's name could you be making $22 million a year and feel that you don't even want to go out of your way to feed your own patrons?

That's what I cannot put together in my head.

Like that incredibly, we are all prisoners of our brain chemistry.

But when I run into brain chemistry like that, it blows my mind.

And there's other people in town with that kind of brain chemistry.

Not a lot.

But if you look at why is Steve Wynn successful?

Why is Bill Hornbuckle successful?

Why are these people successful?

Well, because they're cool.

Because they're like, okay, all right.

You know, if you watch Bill Hornbuckle getting interviewed, he's not a jerk.

He's not uptight.

Steve Wynn, he understood.

There's secrets to casino gaming that some executives don't know.

I'm going to tell you the secrets now.

Are you ready?

Sure.

When you have compulsive gamblers, no, I'm a compulsive gambler.

when you have gamblers we are wvs we are willing victims on the narcissism scale the narcissist is the house and we are the willing victims if you give to a willing victim as a powerful narcissist that willing victim is going to feel guilty uh that willing victim is going to feel shame and they're going to say oh you know what

they gave me this sweet they gave me all this food they gave me this alcohol i'm okay giving them back 19 000 i can feel that viscerally in my my soul.

And I know that from other gamblers because I talk to gamblers all the time.

And all they want is to be loved, believed in, a little bit, the free room, the show, this, that, the other.

If you can give, and Steve gave, in fact, right now, you know, Steve's corporate legacy continues over there at the win.

I figured out this number by backing out their financials.

A fascinating thing about giving and the win is every single number that takes place at the win is on win corporate.

So you can see how much money their slot machines won, how much money their table games won so you can actually figure out exactly how much money they give away in comps every day wow and i say to people how much money you think the win gives away in comps every day 1.45 million dollars what so you say these well vegas police

uh and the dinosaur accused me of only having one percent knowledge of the casino industry but okay i'm gonna and i'm going to use my one percent right now

They don't pay casino taxes on the comps.

So they take their gross casino number, they minus all the free drinks, all the free food, all all the hard cash, all the airline tickets out of that, and then they pay taxes on the leftover.

So I take the gross of the win, I see what their taxable payment was, and that difference, that exclusion, is their comps.

So since they're excluding $42 million a month, which is $1.4 million a day, roughly, since they're excluding $42 million a month in tax payments, right?

The percentage of tax payments, which is 7% of that roughly on the 42 million, I know what they're giving away in comps.

Brilliant.

That is smart.

Yeah, but the beautiful thing about the win is, and I believe this should be the law in Nevada, the beautiful thing about the win is all the numbers are right there.

Now, if you go to any state in the union, there might be one exception, but 95% of the states in the United States have every month, they have every casino, every online operator, and their exact gross and net.

Wow.

I didn't know that.

In fact, New York State has it weekly.

So when the MGM had problems with its cybersecurity, I saw how much they dropped weekly in New York.

How much did it drop?

Not as much as you would think, about 20%.

I was shocked.

I couldn't believe that people with no card and no comps would still go to Yonkers.

That's their property.

That happened in Vegas, too, right?

They got hacked.

Or was that Caesars?

It happened all over that.

The entire property got hacked.

And I have to tell you, they handled it with class, dignity.

The CEO gave a thank you afterwards.

And to me, they barely suffered financially.

When you look at the quarterly.

The quarterly for MGM was a record quarter, even with that hack.

That really says something about MGM.

They know what they're doing.

Yeah, they do.

They would have a monopoly if they could.

They're kicking Caesars took us.

Yeah.

They really are.

Caesars doesn't hit the same.

It doesn't.

And the amazing thing about the MGM is the rooms are just so much nicer because Steve Wynn's legacy.

Even Park MGM, that's a Steve Wynn property.

Nobody really knows that.

Oh, I didn't know that.

That's right.

Nobody knows that.

Wow.

He donated the land to Mandalay Bay Enterprises at the time.

Mandalay built the building, but Steve was right there saying, I want the ceilings this way.

I want the rooms that way.

I want this.

I want that.

So it was a collaboration.

I've heard nothing but great things about him.

It's very unfortunate what happened,

but, you know, I mean, he kind of made his own destiny, right, with that.

Yeah.

I mean, you know, they say they have this thing, believe all women.

When you have that many women coming forward, I mean, what are you going to do?

Yeah.

You know.

In your opinion, what is the best hotel in Vegas to stay at?

I mean, if you have the money and you, you know, it's funny, I ran into a guy in New York and no names, but he's a literal billionaire or the son of a literal billionaire.

I mean, I know this for a fact because I Googled the family.

Everybody says, You know who you just met with?

And I'm like, No, I don't know who I met.

But I Googled the family when I left.

He comes and plays to a million-dollar credit line, and he still could not get into the villa for Super Bowl.

Wow.

Because that is the level of demand for the win encore.

So the reason I tell you that story is if you have the money, it's certainly the win encore.

Now, in 19, I'm sorry, I'm dating myself a little bit.

In 2017,

I could go to the win with 50 grand.

I could get a room in the tower suites.

I could get comped.

They were happy to see me.

They actually, the only time in my life I've ever been in a Rolls-Royce, they picked me up in a Rolls-Royce at the airport.

And it was the only time I've seen that.

If I show up at the win now with 50 grand, now this is already seven years later.

We've gone through COVID.

We've gone through inflation.

If I show up now with 50 grand at the win,

It would probably not be possible to get a comp room on a Saturday night.

Wow.

That is crazy.

Yeah, that's how high.

Well, their daily revenue from rooms, their RevPAR, is $2.6 billion.

Just off rooms.

Just off rooms.

So you have $2.6 billion divided by $3,700.

Their average room rate is $750 a night.

Damn.

So they must be the most profitable hotel.

They're killing it.

Yeah.

Well, they're making a billion a year over there.

Holy net.

That's insane.

I didn't know that.

What's the least profitable hotel right now?

Well, I mean, I do not have access to their numbers,

but I've been in there and I've run the numbers in my head and I see what's going on.

And I would say, now this is my opinion.

So I don't want any lawsuits from anybody.

I am talking out of my tukas.

But I would have to say it's the fountain blue.

Now, when I talk out of my tukas, I want you to know that I'm speaking to five, you know, tenured casino execs at the same time.

And so I run it by them and I say, what's going on over at the Fountain Blue?

Well, my friend works there and this and the that and you know what I mean?

So I mean, for instance, they told me that the occupancy rate there is 40%.

Okay.

Do I know that for a fact?

No, but this is a reputable casino exec who told me this.

You know, someone told me another number that I'm pulling out of thin air, please, no lawsuits, is that their casino is only winning about $600,000 a day.

This is what somebody told me who knows somebody who works there.

Is it true?

I have no idea.

But it makes sense to me because I've been in there and I've looked at the number of people playing and I've looked at the volume.

And it looks to me like a high six-figure number, just from experience.

Do you think they're just too far off the strip?

It's an hour-long conversation.

That's a whole nother podcast.

It's a whole nother podcast.

I thought you were going to say Resorts World.

No, Resorts World has cash flow of 200 million a year.

Oh.

So Resorts World, very funny story.

I love this story about Resorts World.

I'm barred from Resorts World, by the way.

Yeah, I got it.

I throw it out the other day.

So this is the story with Resorts World.

So Resorts World publishes its financials under Genting Berhard in Malaysia.

So you go to the corporate website of Genting Berhard, and you were able to pull out the financials quarterly.

And every quarter, I would go to Genting Berhard like a baby, like a child, like an infant, like a jerk.

You know, sometimes I'm obnoxious.

When I'm obnoxious, I admit it.

Every quarter, I would go in there and I would read how they did in Las Vegas.

So they would have anywhere from 42 million to 55 million.

I think I saw on the high end.

I saw as little as 30 million in cash flow.

Now, that's their cash flow before depreciation and any interest.

I know their capital structure.

I could go into that in a second, but that might be too far into the weeds.

So I would go and I would see the number and I would run down there.

On February 27th, they were supposed to report the quarterlies this year.

They reported them on February 28th.

I go in there and they grouped, they scrubbed out their Las Vegas operations and they grouped it into their North American operations.

So they gave no detail for what happened in Las Vegas.

But this is the mind-blowing part.

This blows my mind.

They went back every quarter back to Open and scrubbed out their Las Vegas results and put them into New York and put them into North America.

I swear to God.

Now, how do I know this?

Because every quarter for the last six quarters, I've been in there looking at the number and running down and making a video about it.

Yeah, yeah.

People are like, how do you know that?

I'm like, because I just read it six straight quarters.

Right.

Wow.

So, why do you think they did that?

Well, I would take the number, which is generally 50 million.

I would take the 50 million and then I would times it by four to get an annual, right?

It was always around 50 million.

It was as low as 30, it was as high as 55, but let's just use 50 million for ease of math.

I would come up with 200 million, then I would take the 200 million over a 4.3 billion dollar investment, and I'd get an ROI of 4.8%.

And I would stand in front of the place and I would chortle.

The return here is 4.8%

on a $4.3 billion investment.

They are borrowing money at 8.3 quarters percent, which is true.

They are going to lose their tickets long term unless they get their yield up.

They can't get their yield up because what happened was when they opened, they decided, hey, we're going to get $600 a night a room.

We are a beautiful property.

We're a premier property.

We're the greatest thing since sliced bread.

Delusion.

It's the delusion I find fascinating.

I find the delusion fascinating fascinating because I've been delusional so many times in my life.

So when I see someone else who's delusional, I'm like, yeah, yeah, I've been delusional too.

I know, I know.

So they thought they were going to be unbelievable.

What happened is the marketplace quickly told them they weren't going to get $600 a night.

So they took their room rates all the way down to $150.

When they took clean, decent, respectable, brand new rooms down to $150, the whole place filled up with...

young people who are looking for a clean, respectable, decent room.

Plus Zook is a decent nightclub or maybe even a good nightclub, right?

So it filled up with young people.

So now the analysts said to them, you're never going to get any yield.

In other words, if you're 28 years old, let's even use younger because I was 23 the first time I came to Vegas.

If you're 23 years old and you have a job and you love to gamble, you love Vegas, you want to have fun, and you can actually get it together.

Think about this.

You can get it together to buy an expensive plane ticket.

You can get it together to pay $150 a night for a hotel room.

You can maybe bring your girlfriend.

You've got $500 to gamble and you're going to go and you're going to stay at resorts.

In my book, you're already a huge winner.

How many 23, 24, 25-year-olds can get it together on that level, get to Vegas, have a great time for three or four days, go to Zuke nightclub, maybe buy a bottle.

To me, you're already in the top 1% of 23-year-olds.

And I would, you know, I would, I'm open to that number.

Maybe it's 3%, but I'll tell you, it's not 10%.

So you're already a winner.

But here's the thing.

You can't go into your pocket and pull out another 10,000, 20, 30,000 to piss away on the roulette wheel at the blackjack table, at the crap table.

So they filled up their entire hotel with that type of client.

God love them.

They're all winners.

They really are.

But they can't get the yield.

Because the win has a more...

Well, the wind has the kind of people who, if they get stuck 50 grand, they can call up their secretary and say, can you wire another 50 grand?

Right.

The kids that are at Resorts World, who are, they're already happy.

Wow, I went to Vegas.

I brought my girlfriend.

I had a few drinks.

I went to a great nightclub.

They don't have the need.

They don't have the ability to, but they also don't have the need to go.

It's a younger crowd, and you can't get that yield out of a younger crowd.

Right.

What got you so interested in studying these numbers?

Are you an investor?

No.

I was born with a genetic mutation called CCAATT.

So there actually was a help group for it.

I would love to get awareness out there about this, but unfortunately, nobody really does their genetics and takes them and sends them to promthies.

So Gary Brecca

has an unbelievable video on this where he talks about, and I saw it and I almost fell over because he hits the nail right on the head.

If you have a seven-year-old, an eight-year-old, a nine-year-old, and he's sitting there playing video games for 12 hours, that child is starting, is trying to feel normal.

That child is trying to get back to a place where it feels okay.

And he said, you have a future addict on your hands.

So when I was seven, eight, nine years old, we didn't have video games.

Pong didn't come out until I was nine.

And even then, Pong was like, you know, take it or leave it.

So I was born without the ability to create dopamine.

So I was a natural born addict.

So the only thing that we had in the house was the encyclopedia.

Wow.

So I read that encyclopedia from A to Z.

Then I found cards.

Then I found gambling.

Then I found a childhood friend.

I was seven years old.

He was nine years old.

He taught me how to play guts.

It's that game where you get two cards, you draw another card.

We were playing guts for dimes.

And I was hooked from a very early age.

So now I've got the encyclopedia there, right?

And I've got the newspaper, which I'm reading cover to cover because I'm looking for information of any kind because I have this dopamine deficiency.

And then I have gambling coming from the kids in the neighborhood who also have similar situations in their life.

So immediately I start going into the encyclopedia and reading about Las Vegas.

Because at that time, until 1977, the only place that gambling was legal was in Las Vegas.

So I was in, if you took the encyclopedia, the L book, the world book, it was a 1959 world book.

I mean, it was dated.

And you went to L, I probably read the Las Vegas article, you know, the blurb on Las Vegas.

It was three or four pages.

I probably read it a hundred times

trying to get back to normal.

Yeah.

That's all I was trying to do.

Interesting.

So you don't feel dopamine when you do?

I only create dopamine.

So what I did was I had a guy in my life about, I was obese, and I decided to get fit because I got tired of being rejected by women.

It actually worked.

Once I got ripped, I actually got a girlfriend.

Nice.

So I got tired of being rejected by women.

So I got ripped.

But I had a trainer who was a physiology student at Columbia.

And he started making comments to me.

He said, wow, he goes, I never forget the first comment he made.

He said, so low dopamine, you don't even lock your doors.

And I'm like, what's he talking about?

Low dopamine.

But in my head, I remembered that I had taken my letters from 23andMe, my genetics, and I sent them to a company called Prom Fees, which was overseas, because they actually don't even let you do it in this country.

Oh, wow.

I paid $5 to Promthies, and they sent me back my letters.

And I remembered in that report a flag that said that you do not process folate properly.

Your BH4 is breaking down too quickly, and so you do not create neurotransmitters.

So therefore, you have what's called CCAATT.

I go to Yahoo groups.

There's a help group for CCAATT.

Everyone in there is either a drug addict at the highest level, a compulsive gambler, or suicidal.

Wow.

And I read it and I'm like, wow, I couldn't believe it.

In fact, there were some leading

authors in there, and I don't remember the woman's name, but she lived in San Francisco, and she was writing about how she finally found out at 34 that it wasn't her fault.

And she took such solace in that.

And I have to tell you,

I'm not going to get emotional right now because I'm just not in that mood, but I have to tell you that when I found out that my problem,

you know, the reason why I was a compulsive gambler, the reason why I was constantly reading about the reason why I was so obsessed, when I found out that it was genetic,

it was a weight off my shoulders.

And I kind of know how to manage it somewhat.

I mean,

I'm probably not going to make it.

I'm probably going to be totally broke in like two years.

Really?

Maybe.

Yeah, because I refuse to monetize.

So I have this social media following, but I just.

So when you have low dopamine, it's contract stuff and stuff that involves negotiating with people for money or trying to get someone's money or

trying to be a hard nose.

Those are very low dopamine events.

So when I came to Vegas, I did business with 10 or 15 people and every single one of them said, give me this and I'll do this for you and you can continue your dream.

And I just gave it to them.

So I pissed away about $100,000 when I got here on about 15 different people.

And even now, and I'll tell you something fascinating that people need to know.

And I'm going to go to Tom Arnold.

Do you know Tom Arnold?

I don't.

Okay.

Tom Arnold is a comedian.

He predates your time a little bit.

He was very famous.

He married Roseanne Barr.

Okay.

I saw him interviewed.

Tom Arnold suffers from terrible depression.

So the lack of dopamine creates terrible depression.

And Tom Arnold sat right there in the interview and he said, look

when I wake up in the morning and I can't function he said one of the first things I try and do is an act of service he said there is tremendous dopamine in giving there is tremendous dopamine in doing something for someone else so I have found in Vegas and a way a way to boost my dopamine at times when necessary is to take a small business.

The other day I did a woman-owned business who does hydration, IV hydration.

And to do a video and to give to her because I'm over there and she's cavelling.

She's like, oh my God, you know, I'm getting the narcissistic adoration, so I'm getting a payoff.

I can't believe Vegas Police C answered my DM.

I can't believe you came down here.

My kids told me to content.

And I did a video for her.

Now,

I got a lot out of that because I got narcissistic adoration.

I got the dopamine from doing an active service.

If I was to say to her, okay, give me $500 now.

I got you 100,000 views on it.

My entire drug end of of the payoff has now been completely inviscerated.

Now I've gotten nothing out of it.

You see?

So I'm benefiting from giving.

Interesting.

And that is my motivation.

The other thing that's incredible, and you'll find this with a lot of comedians, you'll notice that a lot of comedians die young.

I didn't know that.

Why are they comedians?

It's an extremely difficult business to be.

Well, I mean, Chris Farley,

the other heavy guy from Tommy Boy.

The other guy that's Screamer.

Do you remember the Screamer, Sam Kinnison?

I think I'm too young for that.

Okay, well, these comedians all died young.

They have a mutation.

One of the greatest things that you can do for people is to make them laugh.

So when I was first, and you can go and pull, and you can go and find this video if you want.

I don't even care.

When I first did content creation and I would be on the live, my entire motivation was to make people laugh.

So I was doing stuff like shoving food.

There's videos out there of me putting food up my nose.

I would drink alcohol.

I would put cherries in my nose, you know, maraschino cherry.

I put a maraschino cherry in my nose.

I would walk around.

And then when I got drunk enough, I'd go and I'd blow the cherry out, and everybody would laugh because they've never seen such an idiot in their entire life.

So, initially, that was most of my content creation.

But then, as I just kind of evolved, I realized that

I could talk, I could talk fast, and I could get out there, and I could do a video, and I could do a video quick.

Inside my head, because of my life experience, inside my head is an awkward, unattractive guy who can't get a date, who sounds like a nerd, who has a nasally voice,

who is certainly never going to be in the public eye.

And I'm 57 years old and I have no idea that I have a voice that

can go deep, can say, Vegas, Paul, E.C.

and people are going to,

I started doing that organically and people were like, wow, we like that.

We listen to him.

So I had no expectations in life when I was a young guy.

And

I remember to the day, you know, I was 16 years old and I remember standing in my backyard and I remember saying to myself well there's clearly something wrong with you because I knew there was something wrong with me from a young age like what was all this obsession about gambling and reading the encyclopedia and you know doing all this nerd behavior what was this you know some there's clearly something wrong with you

so you're gonna have a really rough time wow but I got super lucky Because I created a business.

Now, my mother handed me a business.

She said, do this.

This will be good for you.

My mother handed me the idea.

I am not going to sit here and say it was my idea.

My mother handed me an idea for a business.

I ran it for a year like a schmuck.

I took every quarter from these payphones, every single quarter I took to either the racetrack or to Atlantic City or to wherever.

After a year of being in business, a kid who grandpa who grew up around the corner from me, now I grew up in a privileged area.

And I will tell everyone this.

If I had grown up in a non-privileged area with my genetics, with my genetic mutation, I'd be dead right now.

Really?

Oh, I guarantee it.

Wow.

I'd be either in jail or dead because I would have, in order to get the the dopamine, I would have started to do really shady things, right?

So I met a guy when I was, I knew him from when I was seven.

He grew up around the corner from me.

His first name is Bruce.

I won't give you his last name.

I talked about him all the time on the live.

He said to me, Paul, I'm working for Price Waterhouse.

I'm making $40,000 a year.

Remember, this is 1986, 1987.

He said, what you've got here is a one-year ROI.

He said, you put the money into the business in one year, you have your capital back from that investment.

He said to me, there are not that many opportunities in life.

Don't be a schmuck.

He said, I will take all of my bar mitzvah money.

He had $25,000 saved.

God bless him.

This I could get emotional about.

And he put the whole $25,000 in there and he built it up to a $6 million business.

Damn.

And I want you to know, and I want the world to know.

The whole three, it was from 1987 to 1994 when he sold it for $6 million, which was half mine, theoretically.

A million was cash.

I was kicking and screaming and being a jerk the whole seven years really

no I didn't abuse him but I just wanted my money I wanted to get to the table I wanted to go to Vegas I you know because of the money that we were making doing the business I didn't want to reinvest the money in the business I got a $50,000 credit line at the Mirage at the time

and I had picked up with a stripper girlfriend you know when you're 27 years old and you're unattractive and you have money in your pocket and you realize to yourself hey I'm making $3,000 a week, right?

First thing I did was go to the titty bar.

And the first thing I did was say, hi, my name is Paul.

Will you pay attention to me?

I've never seen a girl as purdy as you.

What do you think happened?

I ended up with a stripper girlfriend.

And she wasn't a bad girl.

She was not a bad person.

But it was a pay-for-play kind of thing.

I gave her $1,000 a week to be my girlfriend.

Sugar daddy.

Well, I was only 27.

So can I really be a sugar daddy at 27?

So I gave her $1,000 a week and we ran around the country and I'll never forget when we broke up after three years.

I lost all my money toward the end of our relationships.

I was totally broke.

Gambling?

Gambling.

On the very last trip with her, I lost a million dollars.

Damn.

And it was, it was, well, it's funny because I lost a million dollars playing blackjack in June of 1990.

I'm sorry, in April of 1995.

That's a lot back then.

What's great about Nevada is, though, the numbers for the month of April 1995 are still on the Nevada Gaming website.

So of course I had to run in there and say,

how much money did I contribute to the Blackjack win?

I did.

I looked.

So the state of Nevada, the entire state won $31 million on blackjack in April of 1995.

131 of that was mine.

Wow.

So 3% of the total loss that month came out of my pocket.

Holy crap.

So I was broke and I owed all kinds of money, all kinds of markers.

We broke up, but I'll never forget it.

And this made me feel okay about our three years together.

She said, you know, it didn't work out, but wow,

who had a better time than us?

That's what she said.

That's cool.

And, you know, good luck to her.

You still talked to her?

She named her kid Paul.

I said,

I swear to God.

Which makes me laugh.

And she had a normal life.

She married an executive at a company, and she straightened down, and she's in her 50s now.

I didn't see her.

since she was pregnant with Paul.

I saw her when she was pregnant with Paul and she, you know, she had that natural, remember Sharon Stone in Casino?

Yeah.

So she had that about her.

So I was, I was Ace Rothstein back in, you know, in that year.

I wasn't an executive.

I was a player.

And I was running around with my Sharon Stone.

And people would acquiesce to anything she wanted.

So even when she was pregnant, she had that glow about her.

The last time I saw her, and I'll never forget it.

We went into a pizza place and the guys in the pizza, and she was pregnant.

And the guys in the pizza place were just falling over her.

Because even though she was pregnant, she was five foot seven.

She still looked beautiful.

I mean,

you know, people used to see us together and they knew, you know, that she was, you know, she was a beautiful woman and she was tall and they saw me and they knew, you know, they knew I was paying to be in that relationship.

But I had a good time.

It's cool to see you embrace who you are now, though.

I've embraced who I am my entire life.

Oh, you have?

Yes.

Okay.

I have no, I have no ability to not embrace who I am.

What I don't know when I was 27, 28, 29, I don't have the knowledge.

Like nobody told me certain things.

But now that I look back on the totality of my life, everything is just, you know, it's, it's so explainable.

You know, I'm only speaking for me, but I can't imagine that my situation doesn't apply to a great number of people in this country.

I'm a prisoner of my brain chemistry.

You know, you're sitting here and you're doing this.

You're doing these podcasts with very intelligent people.

You're an engaging guy and you're very successful because you have what in your head?

A brain.

Right.

You have a brain that is interested in talking to people.

You know, I don't know what level you're on because I haven't watched you extensively, but I imagine that your career trajectory is similar to Rogan, right?

That's where you're going.

I mean, eventually.

That's the goal, yeah.

Yeah, that's the goal.

So you're going to do exactly what he's doing because you're sitting here and you're listening to me and you know, you're a great listener, and you're

this is that's where you're going.

You're going to go in the same direction as him.

That's because that's your brain chemistry.

He was, what, a comedian?

Yeah.

And then he realized that he got dopamine out of learning.

He got dopamine out of talking to people.

He got dopamine out of information.

And so there he is.

And he makes, what, 100 million.

I don't even know what does he make?

100 million a year.

100 million a year, I think.

Something crazy.

Wow.

So he's getting that payoff.

Yeah, he is.

But you said you're running out of money in two years.

Is that a joke?

No, no, I'm running out of money.

Well, okay, so I did TikTok.

I got my TikTok up to $5,000 to $7,000 a month.

Okay, this is what happened.

So on June 23rd of last year, TikTok started monetizing me.

And the sphere opened up on July 4th.

On July 4th, I had the phone pointed towards Caesar.

Caesars had the fireworks going out.

Anybody who was on the Las Vegas strip knows exactly what happened that night.

Nine o'clock on July 4th, the fireworks are going off over Caesar's Palace.

I was on the man behind the man's balcony.

He's a guy who owns a condo.

He's a friend of mine.

And I was looking at Caesar's Palace with my phone.

Yeah.

And the sphere turned on.

And we all looked at it and said, who the hell gives a damn about fireworks?

This is the most amazing thing we've ever seen in our entire lives.

And I got 7 million views on that video.

It's on my page.

It's the first 10 minutes of the sphere.

I had it pinned.

I don't have it pinned anymore because I've had other interesting videos come up since then.

So I made $2,700 from that video.

Nice.

So through the summer, I was making about, the most I made was $8,000, but I was making between $5,000 and $8,000 every month.

So the winter came, I don't want to spend the winter in New York.

So I said to myself, let me get a rental and let me get a rental.

Let me really put my energy into content creation because I know that if I get my took us out on the strip and I really, I know I can make $15,000 to $20,000 a month.

based on the information that I had.

So I got a rental in Silverado.

I moved out here on November 1st.

I did did my content creation.

No bullshit.

Right when I moved out here, TikTok started slashing its CPM.

So they were giving me about $1 per thousand views over six seconds.

And then all of a sudden it dropped to 60 cents.

And then it dropped to 40 cents.

And so even though my following was going like this, and even though my views was going like this, my payment rate went down to one-third.

So I tripled my viewership, but I still stayed at $6,000 or $7,000 a month.

On March 18th, they dropped it down to where they only pay you on your first 30 videos.

So now my monthly payment has gone from $6,000 or $7,000 down to, I'll be very lucky to make $1,500 this month.

Damn.

So because my content creation will not pay, and because I refuse to take money from people, not because, this is important.

It's not because I'm a great guy.

It's not because I'm ethical.

It's not because I'm moral.

It's not because I'm superior to anybody.

It's simply because

the drug payoff of the narcissistic adoration and the payoff that I get by retaining my dopamine by not spending it on contract negotiations, on taking money from people, is so high and so much more than any money that I could get paid.

So therefore, my default reaction is to give it all away.

Wow.

That's the math on it.

That is elaborate.

It's not moral and it's not ethical.

Huh.

It's just who I am.

So if Circa offered you $100,000, you wouldn't take it

to help promote their casino?

For how long?

For a year.

No.

It's not enough.

It's not worth my freedom.

It's not worth what I'm doing.

It's not worth the drugs that I'm getting from the narcissistic adoration of the content creation and the mitzvahs.

Now, if they offered me $100,000 a month, I'll tell you exactly what I would do.

I would tell everybody, Circa is giving me $100,000 a month.

They put me in their penthouse right here.

I'll tell you the numbers right now.

I would immediately say to them, I need 25,000 of that in comps.

They'd give me 25,000 in comps.

I would take the 25,000 in comps and give it away as prizes and give it away.

In fact, I was looking for a solution to the food problem.

So it was more before the dinosaur threw me under the bus, but before the dinosaur threw me under the bus, I was getting two invites to a restaurant.

or to something related to food every single day,

including places in Resorts World.

So I would get invited and I would say to myself, well, I really don't want to do food because I've gained eight pounds since somehow it was 13.

I've got it down to eight and I want to be ripped.

You know, that's one thing that I enjoy in life.

It turns out there's a tremendous amount of dopamine in being very fit and being ripped.

So I want to be ripped.

So I can't do the food thing.

So the solution I came out to that came up with is give the food away to listeners or followers.

So I got invited to the restaurant right across the street from Carbon's at MGM.

It's a French place.

I forgot the name of it.

And I was on the live and I gave it away to two listeners.

And I've told this to five places.

I'm not going to exaggerate and tell you, I've told it to 50 places.

I've told it to five places.

Two of them are the Greek place at the Venetian.

I've got the name of it.

Oh, Milos?

Milos.

That's right.

You hit it right on the nose.

And the

place that does the,

what is that luxury food that you eat?

Oh, Jose Andreas, Bizarre Meats?

No, not Bazaar Meats.

It comes from a fish.

You've got the fish open.

You get the eggs out.

See, once in a while, when you get old, you lose words.

I haven't seen it.

No, you know, caviar.

Oh, the caviar place at Resorts Resorts World.

Oh.

I told the Caviar Place at Resorts World, and I told Milos, I said, listen, you guys want me to come down there?

Give away a $300 gift certificate to my followers, and I will give away the gift certificate to my followers, and we'll make a big shtick about it,

a big stink.

We'll say, oh, we gave it.

Both of them never answered me back.

But I'll tell you a funny thing about Milos.

So Milos reached out to me and they said, will you please come down?

How much do you charge?

And I said, I don't charge, but if you give the $300 gift certificate, I'll come down there.

They never answer me back.

Wow.

Guess who I saw there one month later?

That girl?

The dinosaur.

So we can't mention her name, but give the backstory.

A lot of my listeners are in Vegas, but what exactly happened with this?

So the dinosaur worked for me for eight months.

And the entire eight months that she worked for me, I acquiesced to her every want, her every need.

She was extremely argumentative.

She's intelligent, but her emotional IQ is extremely low.

And I'm a person with a low emotional IQ, so I know another person with a low emotional IQ when I see them.

So every single thing that she demanded, I gave to her, she told me when I originally was working for her that she would do the content creation for $2,000 a month.

And her friend ran off with my $2,000.

So she was going to do my Instagram and her friend was going to do my TikTok.

Her friend, no names, but I give the kid a lot of credit.

He stole my $2,000.

He ran off.

He wouldn't even give us the login back to TikTok.

The reason I give him credit is I contacted him two months ago.

He got a big job in Vegas.

And I said, hey, so-and-so, I noticed you have a big job in Vegas.

He had my $2,000 back in my PayPal account in one minute

true story it's probably the only time you've gotten stolen ripped off in vegas that you don't want to lose that job right he gave it back to me in one minute so i said to her i said well your friend ran off with the two thousand dollars she said i want four

and i looked at her and i said okay i'll give you the four she had a lot of i felt like she had a lot of power she had 199 000 followers right and to me 199 000 followers in the gaming space at that time was like Oh my God, you're so powerful.

And I kissed her ass.

I kissed her, took us.

There's no doubt about it.

So I gave her the $4,000 a month.

She did a good job for me, but she did not do the thing she said she was going to do.

She told me that she was going to walk on the live.

She never really did.

We did a slot stream.

She was supposed to give me any money that she made from the slot stream, right?

Yeah.

Well, she did a slot stream, and she mostly lost, but she didn't want it.

She won $1,100

right into the pocket.

And because I'm low dopamine, and because I enjoy...

Being able to find out who people are.

I never said anything to her, but she never gave me the $1,100.

To me, that's stealing.

Although a lot of people would say, How come you didn't say anything?

Well, because I want to see who she is.

So she did the job for me through March, and then she got the finger-licking food turds.

She got them.

And once she got them, I really just, my hope and my dream, my compology, which I still believe in, in fact, there's actually a couple of executives that said that they sort of believe in it, whatever.

My hope and my dream was very difficult for me to let go of.

So she contacted me in April.

Last year?

No, this is 2022.

And she said to me, the Mohegan Son in Connecticut contacted me.

She said, I'm in Vegas.

I'm busy.

I have no intention of going up there.

Now, she works for me.

And she said, you go up there and you get a deal for the comp wallet.

And I will go up there and I will do it for you for free.

This is the exact words that she used for me.

Now, I'm making her look good, right?

She said she'll go up there for free for me.

I couldn't believe it.

She's going to do something for free for me.

Okay.

I give her credit.

I went up to Mohegan Sun.

I met with the executives there.

I could see that they had such an excitement about getting her because at this point she has 400,000 or 500,000 followers and she's good at what she does.

And the Mohegan Sun is completely incompetent.

I could talk to you about the Mohegan Sun for 20 minutes if you want.

What hotels do they own?

They own The Virgin in Las Vegas.

Quick side note, okay?

I'm going to tell you a secret of casino gaming and gambling.

When you have an organization that comes from either a monopoly or a near monopoly, and I'm going to talk about three companies right now, but I probably could talk about, I'll talk about four.

Mohegan Sun, Foxwoods, Bally's, and Genting Berhard.

They all either come from monopolies or near monopolies.

When they have to go out into the real world, i.e.

Vegas, they can't adjust.

They're so used to being either a monopoly or a duelopoly that it's very hard for them to have.

They're not naturally creative organizations.

Because in their home state, I mean, I don't know if you know Genting Berhard, but they have had the only casino in Malaysia in the highlands for like 30 years.

Wow.

Mohegan Sun had a dulopo.

It was only Mohegan Sun and Foxwoods.

There were only two casinos in Connecticut.

Foxwoods has failed.

Foxwoods, those two.

Foxwoods pulled away its monthly stipend from its tribal members.

Mohegan Sun lost $97 million last quarter.

But the quarter before that, the same quarter, they made $3 million.

They were opening a casino in South Korea that's going to fail.

It's a locals-only, I mean, I'm sorry, it's a foreigners-only casino.

The government of South Korea just announced yesterday that they are tripling the size of their government-run casino from four acres to 12 acres.

You have no chance if you are in the South Korean casino market right now, but that's a whole nother story.

I can talk about this stuff forever.

So she sends me up to O'Hegan's son.

I meet with them.

I see that they want her so much.

On the fly, in the middle of the conversation, I say, you got to give her $10,000.

It's not $10,000 to put in my pocket.

I tell her, I got us $10,000.

I have every intention of splitting the money with her because I feel that that's fair.

Because she works for me.

So I got an employee who they want her.

They don't want me.

She'll tell everybody in the world that they don't want me.

She's 100% correct.

They don't know Vegas police either.

They don't want Vegas police.

To me, to them, I'm an awkward nerd weirdo.

They don't work.

I wasn't big at the time.

I had 25,000 followers.

I get the $10,000.

I go home.

I give the information to Ronnie, who works for me.

I say, Ronnie, put together some kind of deal for the Mohegan son.

I don't care what it is.

Again, going back to the dopamine, I don't care what the deal is.

She sends the contract up there to get the $10,000 check.

At the same time, the Mohegan son does a contract for $10,000, sends it to her.

This is my critical error.

Because I was embarrassed, because I was ashamed, because I'm a fool, I did not mention to them the comp wallet app.

I said, you need to give a contest to her and put the contest.

I will give away the contest, but I do not tell them I'm going to put it on my app.

Am I wrong?

Yes, I am wrong.

But I said to myself, what's the big deal?

What do they think I'm going to do with the contest?

So I put the, in my mind, I'm like, so I put the contest on an app.

Who gives a damn, right?

Yeah.

When they had a conversation on June 13th and the app came up, instead of her saying, yes, I work for Casino Compollo, which she did.

I was paying her $4,000 a month.

Yes, it's a contest app.

She immediately went into a Mygdala meltdown and she said to them, I don't even believe in contests.

I don't know what this app thing is.

And I think he's trying to steal my $10,000.

So she completely and totally panicked and threw me under the bus.

It would be like having someone working in your pizza place, right?

And someone comes in and challenges them and they say, I don't believe in pizza.

I don't even know what cheese is.

Mind-blowing.

So now I came out to Vegas after about 18 months and I can't let it go.

Sorry to the world.

I can't let it go.

So she would do these bullshit reviews and I was kind of on the periphery calling her out on her nonsense.

Sure enough, initially she was okay.

She actually published six months ago, and and this was published, and I'm sure somebody in here remembers reading it.

Oh, we had a business disagreement a year and a half ago.

He's okay.

It's no big deal.

I'm sure she deleted this post.

It's gone.

She deletes everything.

Don't worry about him.

But I kept giving her a little business.

That's who I am.

I'm still angry about what she did to me.

And after about a month of that, She started to lose it and she started to really come after me and I started to really go after her.

And I just, you know, I questioned her credibility so somebody sent me a video about the magician study and the video was attacking the magician study and the magician who wears the rabbit ears and how the tickets are $150

and why is she promoting that magician he stinks and she must be getting paid or whatever I took the video I put it up on my page yeah the magician study sent me a cease and desist how dare you how dare you say that we're paying her We're not paying her.

I still have the email from them.

We're engaging her to produce content for us.

And I'm like, girlfriend, you're engaging someone with a million followers, but you're not paying her?

I mean, it strains credibility.

You know what I mean?

But because they sent me a cease and desist, I took the video down.

When the Durango said, please take the video down, I took the video down.

When MGM said, please take the video down that mentions how much people are playing over here at the maximum, which was $400,000.

I took the video down.

When Durango said, take the casino video down, I took the video down.

Now, there's some video that is pissing off Resorts World, or the dinosaur is behind it, and I got thrown out of Resorts World.

Instead of being ham-fisted, which is what they are, is ham-fisted, is that the term when you're just awkward?

I think I've heard of it.

Right.

Instead of being awkward, instead of just throwing Vegas police out of your casino, and now I got 600, 700,000 people to constantly tell, this is Resorts World.

They don't allow me in there.

Instead of doing that, tell me what video is upsetting you so much.

Right.

I'll take it down.

I've already taken down four or five videos that are upsetting these corporations.

But I'm going to be very honest with you, and I said this in a post that I did.

Now I'm a little nervous.

If I go to the MGM one day and they've decided to put a fourth zero on the roulette wheel, or they've decided to pay even money on blackjack, think about it.

It's not that far-fetched.

You had three to two, then you had six to five.

It's obviously going in the direction, the price of real estate on the strip, they paid $54 million for an acre and a half next door.

If they decide three years from now, because Vegas keeps going crazy, which it might because we're all getting older, and when you get older, your dopamine disappears.

This is why old people play slots.

I'm telling you something that you don't know.

Your dopamine goes down when you get older.

So someone like me is really in big trouble.

If they decide to pay even money on blackjack, and I'm in there two years from now, and I walk by a whole pit of even money on blackjack, right?

Am I really going to be so quick to grab the phone and go, this is the MGM grand?

They only pay even money on blackjack.

Because now I'm going to be thinking to myself,

Am I going to get thrown out of MGM?

Now, that's nine properties I can't go to.

It's all a Vegas.

And I like MGM.

I do too.

And I like Bill Hornbuckle.

I think he's a great guy.

And I respect him because he started as a bus boy at the jockey club.

Wow.

Can you imagine this guy?

I get chills when I talk about it.

I didn't know that.

I get chills for his joy.

Here's a guy.

I got chills right now.

If you look at my arm, there's chills right there for Bill Hornbuckle, for his life.

He's walking into the MGM grant.

I'm sorry.

He's walking into the Bellachio.

He's going by the nine acres of fountains.

He's walking into what is a $2 billion property at the time.

And he's looking to the left.

And he's, I don't know, he must be 55, 60 years old.

and he's thinking,

I was a bus boy at 18 years old, right here at the jockey club.

And now I'm the CEO of the most successful, I think they're the most successful, the most successful large casino corporation in the world.

Can you imagine what every day is like, Usim?

Can't.

God bless him.

God love him.

It's amazing.

It's an amazing story.

Yeah, Paul, it's been fun, dude, getting to know you.

I love how animated you are.

Anything you want to promote or close off with before we wrap up?

I have subscription on,

I make $3.50 cents a month i have 104 subscribers on instagram it's the only place i'm monetizing right now if you can find it in your heart to give five dollars a month to vegas pauly see

i bleed out all of my um personal stuff on there it's on instagram i have 104 people i wish i had a thousand let's get it up to a thousand let's get up to a thousand thank you very much yeah thank you great talking to you thanks for watching guys i'll see you tomorrow