Customers enjoy the view on board the High Roller Ferris wheel, but there must be a lot more of them, says Caesars.
Caesars Entertainment’s High Roller Ferris wheel at the Linq is not quite yet in a deflationary spiral, but it is not proving to be the money maker that the organization had hoped for either. The 550 foot attraction, which towers over the Las Vegas Strip, is billed as the world’s tallest observation wheel.
It opened very nearly a 12 months ago included in a $550 million redevelopment of this area involving the Flamingo and the Linq, formerly the Imperial Palace, and represents a trend that is recent Vegas seeks to diversify its entertainment offering away from traditional gambling.
It’s hardly revolutionary: the new generation of visitors prefers a Ferris up to a roulette wheel, the thinking goes; except which they don’t, apparently.
Caesars said this week that while numbers were up 10 percent in the previous quarter to simply under 5,000 day-to-day cyclists, it was still way short of expectations; the company had predicted that the ride is attracting between 8,000 and 11,000 visitors each day, or 3 to 4 million a year.
Convincing around 10 percent of the Strip’s 41 million yearly visitors might yield up to $60 million in yearly revenue, the organization had hoped.
Pleased Half Hour
These numbers were extrapolated partly by taking a look at the 2010 figures for similar attractions. Almost four million checked out the London Eye that while the Empire State Building had 3.5 million visitors, and 700,000 people climbed the Stratosphere in Vegas year.
However, Caesars outgoing Chairman and Chief Executive Officer Gary Loveman admitted that the business had underestimated the amount of teams and visitors that are corporate trip would attract, adding that this really is now being addressed through a wider marketing outreach.
The vast most of cyclists so far have been leisure tourists or locals, Loveman explained.
Along with Groupon deals, airline package discounts and half-price tickets for locals, Caesars has started providing an open bar throughout the 30-minute ride in a ‘Happy Half Hour’ package, an option that now accounts for a quarter of all bookings.
$1.01 Billion Q4 Losses
Meanwhile, shares in Caesars Entertainment fell 7.9 per cent to $10.15 in extended trading following the ongoing company reported a $1.01 billion Q4 loss. The organization’s biggest division, Caesars Entertainment Operating Co, has filed for bankruptcy protection as the company struggles to reorganize its industry-high debt of over $25 billion.
Meanwhile, Caesars is involved in months of settlement and litigation with its low-level creditors, who argue that its restructuring plan, worked out along with its major creditors, unjustly protects the company’s interests during the cost of their own.
Despite all this, Loveman remained positive: ‘Ongoing strength in the interactive business, new hospitality offerings and sequential improvement in same-store regional outcomes were key drivers of our fourth quarter performance despite the continuation of exceptionally unfavorable hold at Caesars Palace.’
MGM Won’t Allow Cash To Relax And Play At Poker Tables
MGM casinos will no allow poker players longer to use cash at the tables before converting it into chips. (Image: highstakesdb.com)
MGM Resorts will stop enabling cash to be considered ‘in play’ at poker tables in the us beginning on April 1, a move that will expel perhaps the only major way to gamble cash without converting it into chips in their gambling enterprises.
Based on a study by Online Poker Report’s Chris Grove, MGM has confirmed the change, though they have not said what is behind the decision to no longer allow cash to be played at the poker tables.
Before the change, $100 bills that have been up for grabs during cash games in MGM poker rooms were regarded as being part of a player’s stack, which could be wagered and could have to be included as part of any bet that is all-in.
But starting next month, this can no longer be the case at major Las Vegas poker rooms including at the Bellagio, the ARIA, MGM Grand Las vegas, nevada, and the Excalibur.
The move will also influence the Beau Rivage in Biloxi, Mississippi, also the MGM Grand Detroit.
Change Likely Designed to Improve Anti-Money Laundering Standards
While there has been no specific word on why MGM has made the modification, many speculation has suggested that it relates to some sort of compliance issue, an average reason for casinos to change their money-handing policies.
In particular, MGM might be focused on the federal government’s recent interest in money laundering policies at casinos: cash is much more difficult for casinos to track than chips, especially at higher denominations, where chips have RFID tags embedded in them to make certain they can be traced.
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) happens to be more actively speaing frankly about potential problems with anti-money laundering procedures at casinos over the previous 12 months. In June, FinCEN Director Jennifer Shasky Calvery gave a message in which she discussed just how casinos should be https://freeslotsnodownload-ca.com/free-3d-slots/ taking a more ‘risk-based approach’ to anti-money laundering efforts, and that casinos should be more proactive in the Bank Secrecy Act to their compliance.
Choices such due to the fact could be a reaction to requests that are such. FinCEN has also recently opened a working workplace in nevada, suggesting they could be planning on taking a closer look at only how the gaming industry protects against money laundering in casinos.
Compliance with IRS criteria on reporting may be a secondary issue, as chips must be cashed out and therefore are tracked, while cash can get right into a new player’s pocket without ever being reported.
Players Have Mixed Opinions on Cash in Poker Games
As the new guidelines may be limiting with a players who enjoy having money at the tables, not absolutely all poker fans are reacting negatively to the modification. In a thread on the topic in Two Plus Two’s ‘News, Views and Gossip’ forum, player reaction was mixed, with some saying that eliminating cash at the tables will also dump a few methods players can try to cheat during poker games.
‘Fantastic news,’ wrote NickMPK. ‘I hate playing with money regarding the dining table. It much more challenging to read an individual’s stack size, plus it facilitates passing fake bills.’
Not everybody agreed that cash was a real issue at poker tables, nonetheless.
‘[It is] 100x more easier to angleshoot hiding chips that are big $100 bills, and the $100 bills are much easier [to] see from the other end of the table,’ wrote posted sevencard2003. ‘This is wonderful news for angleshooters and cheaters.’
According to Grove, comparable changes will likely visited other Las Vegas casinos within the near future, though it’s not likely that all poker spaces would take up such a ‘no cash’ policy anytime soon.
Las Vegas, Nevada Mob Writer Susan Berman Murder Suspect Robert Durst Arrested
The long-unsolved murder of Susan Berman, Mob daughter and writer, may finally be thawing right out of the Las Vegas case that is cold. In a strange twist of events, the man long suspected of her brutal killing 15 years ago is now in custody.
Robert Durst has become one thing of a home name in recent months, thanks to an HBO documentary series called The Jinx that detail by detail several ‘mysterious’ disappearances and fatalities surrounding the man that is 71-year-old.
Now, perhaps thanks, at least in part, to evidence uncovered during that documentary, Durst may have to face finally prices for at least one of those deaths.
Durst was arrested on Saturday night in New Orleans for the 2000 murder of Susan Berman, a crime author and long-time buddy of the arrestee. While he was always a suspect in the event because of his propensity for being surrounded with unsolved homicides, there was uncertainty in the Berman case as a result of exactly what she had often written about: the history of Las vegas, nevada and her family’s ties to the Mafia, by herself being the daughter Mobster Davie Berman.
Additional Evidence Prompts Arrest
That has been enough for some people to suspect she had researched or written about that she was killed for something. But now, police assert they have significantly more fodder pointing to the chance that it was Durst behind the killing all along.
‘ As a result of investigative leads and evidence that is additional has arrived at light in the last year, investigators have identified Robert Durst as the individual responsible for Ms. Berman’s death,’ the Los Angeles Police said in a declaration released over the week-end.
Durst was selected up on Saturday, remaining under a name that is fake the JW Marriott hotel in brand New Orleans. Authorities state they believe that Durst ended up being likely to leave the country and head to Cuba.
‘Jinx’ May Have Uncovered New Proof
Given the promotion surrounding Durst because of The Jinx, many have speculated that the makers of the documentary uncovered proof that resulted in their arrest. While there may be some merit to that particular, police have tried to downplay the connection between the program and the decision to arrest him.
‘We based our actions centered on the investigation and the evidence,’ stated LAPD Deputy Chief Kirk Albanese. ‘We did not base anything we did in the HBO series. The arrest was made because of the investigative efforts and at any given time that we believe it was needed.’
For their component, Jinx director Andrew Jarecki has rejected that there was any deal to have the police make the arrest right before the series finale, which aired Sunday night. Nonetheless, he did acknowledge it was tough to determine when and how exactly to share information that ended up being uncovered with the police.
‘We talked a lot if we go to the authorities now, we’re missing the opportunity for us to actually get the real story from him, and it may take years for them to do that because the truth is, as filmmakers, we have the freedom to do things that maybe the law enforcement authorities wouldn’t have,’ Jarecki said in an interview on Good Morning America about it with our legal advisors and we said, look.
Durst Also Suspected in Disappearance of Wife
Durst was suspected, but not implicated, in other cases as well.
In 1982, his former wife Kathie Durst went missing; her family has believed he was included, but it’s never been proven. Berman was set to be interviewed by a Westchester County District Attorney about this disappearance when she was killed, which provided a link between Durst and Berman’s death.
And in 2003, Durst admitted to dismembering neighbor Morris Black, but ended up being acquitted after arguing the killing was done in self-defense.
The Jinx may have brought Durst’s questionable involvement in these cases back to the limelight. The filmmakers showed Durst a letter he wrote that was strikingly similar to an anonymous note to police that led them to Susan Berman’s body in 2000 in the penultimate episode.
In the episode that is final Durst was heard (perhaps unaware that his microphone was still real time) muttering what some have interpreted as a confession to his crimes.