$$$$**Official TMB Las Vegas Thread**$$$$

Yes. If you go try to make time beforehand to relax at the Pier 17 Yacht Club. It’s the speakeasy inside Green Fairy Garden. They are adjacent to the Absinthe theater.

 

It’s still a top resort. Absolutely make restaurant reservations as soon as you can. Both Julian Serrano and Cathedrale have closed. The new concepts in those spaces will probably be open in October. Hotel rates on that part of the Strip in October can be impacted by Golden Knights and Raiders home games.

 

New food hall at The Venetian. Nice brands and interesting variety.

https://neon.reviewjournal.com/dini...urants-debuts-on-the-las-vegas-strip-3315328/

 

great original restaurants but almost impossible to live up to their standards and prices will be high. Pretty risky of these places to open these up

 

Doesn’t come at a great time for sure. But this type of project was given the go before international visitors became wary of traveling here and before the social media push back on LV prices. Prices will be high, but lower than the big dining concepts at The Venetian. Also, it’s close to both the Convention Center and The Sphere so it’s going to have pretty high occupancy rates and the food court will probably be attractive to those visiting.

 

Meh it was half full when I went. But was still a great show.

I think the number one show everyone should see is absinthe, not a bad seat in the show and always a good time.

I kind of like Cesar’s for a first timer, tons of options, lots of shopping and the linq promenade just right across the street for some cheap eats etc.

Plus if you’re on a cold streak sitting in the sportsbook for recoup time is nice.

 

This is located across Las Vegas Blvd from Aria.

https://www.thestreet.com/travel/las-vegas-strip-adds-massive-new-shopping-area

 

Looking for recs - the wife and I are going early July to see Backstreet Boys at the Sphere, staying at the Venetian. I haven't been to Vegas in about 10 years. We're not huge drinkers, but like some, I'm 40 so what's better for the olds. We like good food, but not fancy places, anything we should look at doing?

This is nice to see and we'll definitely hit up a few of them.

 

Venetian has really good restaurants. Chica(latin) is my fav there. Bouchon is great. Yardbird(southern) and Milos(greek) are both good as well. also Miznon in Palazzo is a great quick eat Mediterranean street food spot

 

Flight club might be fun. Dart place.

 

Go to comedy club in Vegas? Would it be Comedy Cellar?

 

Vegas next week Thursday-Sunday. Staying at the Linq in this bad boy.

 

so much room for activities

 

7 of us so we got two of the bunk bed rooms. I got one comped so three nights for $127 a person isn't bad at all. won't be in the room except to sleep

 

Im at that point in life to say fuck that. if you're friends cant afford a room in vegas for a weekend. thats on them.

 

four of the 7 (i'm part of the 4) grew up together, i've known these guys for 25+ years. bit of a throwback and i don't get to see them often.

viewing it like sleepovers we used to have back in the day

 

hope you bring ear plugs

 

i have a spa appointment friday morning at virgin so i got a room over there thursday night with $40 in capital one travel credits so probably will crash out over there in quiet peace. will be too drunk/tired friday/saturday to worry about snoring

 

If it’s been 10 years the High Roller probably wasn’t there. It’s the big Ferris Wheel looking attraction just south of The Venetian. I like to ride it around dusk when you get the sunset and the lights of the Strip are readily visible too.

 

tummy sticks on the menu?

 

Vegas gonna die if this goes through

 

Basically disincentivizes gamblers to play slots and other electronic games and keep BJ, Craps and roulette winnings below 10k. and kills professional tourney poker players. For example this would mean my BiL cousin would end up paying millions/year in taxed income if he broke even on a year at what he gambled this past year

 

Also Vegas visitors must be down cause Wynn just upped their offer an extra $125 in slot play on top of the offer they sent me 2 weeks ago

 

International travelers through Harry Reid International fell 9% in May compared to last year. Domestic travelers were down 4%. Hotel occupancy fell 3% to 85%. Interstate vehicle traffic from California on I-15 was down 5%. The Convention & Visitors authority reported a 6.5% decrease in visitation compared to May 2024. This is 250K visitors. Hotels on the Strip and Downtown have dropped room rates. The only thing keeping it from being worse is that the Convention visitor sector continues to be higher compared to last year.

 

I feel like any downturn in Vegas is healthy and it will find a way to come back and appeal to visitors one way or another. It got frothy and eventually that always goes away and what works stays and what doesn't gets flushed out. If you are in it in Vegas in any capacity there is risk reward and that goes for all stakeholders.

 

unfortunately I dont think Vegas will adapt properly now that these properties are no longer ran by people that actually cared for peoples experiences and now ran by hedge funds looking to extract every dollar and putting you on a plane back home

 

My current thoughts are that this is one of the few sensible policy provisions of the OBBB. The gambling deduction was expanded by the Tax Cuts and Jobs Act to allow deductions for expenses incurred with gambling, such as travel expenses (at least for professionals - not sure about amateurs). Likely due to aggressive deductions taken by professional gamblers since 2018, that’s now being reigned in by being limited to 90% rather than 100%.

Disclaimer: have had a few IPAs while reviewing the proposed legislation

Spoiler

The Senate-passed "One Big Beautiful Bill Act" (OBBBA) proposes a significant change to the tax treatment of gambling (wagering) losses for taxable years beginning after December 31, 2025. Here’s a detailed explanation of the new rule, its implications, and an example of how it would work in practice.

1. Current Law (2025 and Prior Years)
Under current law, IRC § 165(d) provides that:

"Losses from wagering transactions shall be allowed only to the extent of the gains from such transactions."

This means that a taxpayer can deduct gambling losses only up to the amount of gambling winnings for the year. For example, if you have $10,000 in gambling winnings and $12,000 in gambling losses, you can only deduct $10,000 of losses, resulting in zero net gambling income. The excess $2,000 of losses is not deductible or carried forward.

For tax years 2018–2025, the definition of "losses from wagering transactions" was expanded to include not just the direct cost of wagers, but also other expenses incurred in carrying on a wagering transaction (such as travel expenses for professional gamblers), but only for individuals, not for businesses in the trade or business of gambling [3].

2. Change Under the One Big Beautiful Bill Act (OBBBA)
Section 70114 of the OBBBA amends IRC § 165(d) for taxable years beginning after December 31, 2025, as follows:

“For purposes of losses from wagering transactions, the amount allowed as a deduction for any taxable year— (A) shall be equal to 90 percent of the amount of such losses during such taxable year, and (B) shall be allowed only to the extent of the gains from such transactions during such taxable year.”

Key points:

• The deduction for wagering losses is now limited to 90% of the amount of such losses for the year.
• The deduction is still capped at the amount of wagering gains for the year.
• The definition of "losses from wagering transactions" continues to include any deduction otherwise allowable under the Code incurred in carrying on any wagering transaction (i.e., for individuals, this includes gambling-related expenses).

In effect: Even if your gambling losses equal or exceed your gambling winnings, you can only deduct up to 90% of your gambling winnings. This means you will always have at least 10% of your gambling winnings included in taxable income, regardless of your actual losses.

3. Practical Example
Assume the following for 2026:

• Gambling winnings: $10,000
• Gambling losses: $10,000

Under current law (2025 and prior):

• Deductible losses: $10,000 (up to the amount of winnings)
• Net gambling income: $0

Under OBBBA (2026 and after):

• Maximum deductible losses: 90% of $10,000 = $9,000
• Net gambling income: $10,000 (winnings) – $9,000 (deductible losses) = $1,000

Result: The taxpayer must report $1,000 of net gambling income, even though their actual net result from gambling is zero.

Another Example
Assume:

• Gambling winnings: $20,000
• Gambling losses: $25,000

Step 1: Losses are limited to the amount of winnings: $20,000. Step 2: Of that, only 90% is deductible: 90% × $20,000 = $18,000.

Net gambling income: $20,000 (winnings) – $18,000 (deductible losses) = $2,000.

Result: The taxpayer must report $2,000 of net gambling income, even though they lost $5,000 more than they won.

One More Example (Losses Less Than Winnings)
Assume:

• Gambling winnings: $10,000
• Gambling losses: $8,000

Step 1: Losses are less than winnings, so the full $8,000 is potentially deductible. Step 2: 90% of $8,000 = $7,200.

But the law says the deduction is the lesser of 90% of losses or the amount of winnings. Here, 90% of losses ($7,200) is less than the losses ($8,000), so only $7,200 is deductible.

Net gambling income: $10,000 – $7,200 = $2,800.

4. Policy Implications

• This change increases taxable income for all gamblers who have losses equal to or greater than their winnings, as they will always have at least 10% of their winnings included in taxable income.
• The rule applies to both professional and recreational gamblers.
• The limitation is stricter than prior law, which allowed full offset of winnings by losses (up to the amount of winnings).

5. Statutory Reference
“For purposes of losses from wagering transactions, the amount allowed as a deduction for any taxable year— (A) shall be equal to 90 percent of the amount of such losses during such taxable year, and (B) shall be allowed only to the extent of the gains from such transactions during such taxable year.” [2]

6. Summary Table
Winnings Losses Deductible Losses (90% of lesser of losses or winnings) Net Gambling Income
$10,000 $10,000 $9,000 $1,000
$20,000 $25,000 $18,000 $2,000
$10,000 $8,000 $7,200 $2,800
7. Conclusion
Starting in 2026, the deduction for gambling losses is limited to 90% of gambling winnings, rather than 100%. This means that even if your losses equal or exceed your winnings, you will always have to report at least 10% of your winnings as taxable income. This is a significant change from prior law and will increase the tax liability for many gamblers, both professional and recreational [2].

 

birthday dinner party of 8 and a coulple picky assholes (wife cares more than i do) need suggestions

 

Delilah is a great venue for a birthday, If you're staying at Wynn. Carbone at Aria. Some sort of steakhouse

 

very normie but really enjoyed bavette's this past saturday night at park mgm. had a group of 7 and it was a great mix of dinner and feeling a bit like a laid back lounge

 

Big wind storm in Las Vegas/Southern Nevada yesterday.



the opening pic you see is souped up of course. But it’s a good video.

 

I will third Bavettes - took wife there a couple years ago and we both loved it. Great food and atmosphere

 

Agree on Delilah’s. Been for both a bday and bachelor party.

 

I haven’t been to Bavette’s but you can’t go wrong with CFA

 

Just booked a cosmo terrace fountain view suite for October with the rest of my chase points. Now looking at dinner reservations. Looks like Bavettes is a top recommendation based on this page. Is it better than some of the other steakhouses in Vegas?

Other recs for the other two nights?

 

Proper Sandwich Company on Rainbow is

Also,

Spoiler

Secured a bag, onto Day 2.

 

Bunch a fish or any notable pro's at your table?

 

Awesome. I’m hoping I get out to play in the main next year. I was going this year but we ended up selling the house and moving so timing didn’t work.

 

No name pros that I recognized at my table, I looked up a couple people who seemed good and they had mid-high six figure Hendons. I did get to see Hellmuth do his annual goofball entrance (leather jacket rockstar singing ‘Highway to Hell-muth).

The field seemed pretty weak, lots of loose passive play, a lot of pot controlling and not value betting enough - scared money typical of low stakes live cash. I primarily play cash and I’ve just been 3b isoing pre and attacking capped ranges post. Just grinding up without getting into any huge spots. Haven’t been all-in yet, but busted a guy for ~20k KJs > J9s on QT8A4. My biggest pot so far.

 

I won a $580 satellite into the Main last night. Euphoric. I’ve never played the Main before. First time. What a feeling. Doesn’t even seem real. I’m jumping in on Day 2 today. It’s still 75 BBs. I didn’t sleep worth shit, I guess that adrenaline never shut down. That’s a terrific day 1 for you.

 

Made day 3

 

Keep us updated. I’m playing the $1100 at Aria right now but I’ll come by after.