Caesars’ High Roller Ferris Wheel Brief On Revenue Numbers
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, however it is not proving become 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 observation wheel that is tallest.
It opened very nearly a 12 months ago as an element of a $550 million redevelopment regarding the area involving the Flamingo and the Linq, previously the Imperial Palace, and represents a current trend as Vegas seeks to diversify its entertainment offering away from traditional gambling.
It is hardly revolutionary: the generation that is new of prefers a Ferris up to a roulette wheel, the thinking goes; except which they don’t, apparently.
Caesars stated this week that while numbers were up 10 percent regarding the quarter that is previous just under 5,000 daily riders, it was still way short of expectations; the company had predicted that the ride would be attracting between 8,000 and 11,000 visitors per day, or 3 to 4 million a year.
Convincing around 10 percent of the Strip’s 41 million visitors that are annual yield up to $60 million in yearly income, the organization had hoped.
Happy Half Hour
These figures had been extrapolated partly by looking at the 2010 numbers for comparable 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 leader Officer Gary Loveman admitted that the company had underestimated the amount of teams and visitors that are corporate trip would attract, adding that this really is now being addressed through a broader marketing outreach.
The vast majority of cyclists to date have been leisure tourists or locals, Loveman explained.
An option that now accounts for a quarter of all bookings along with Groupon deals, airline package discounts and half-price tickets for locals, Caesars has begun offering an open bar during the 30-minute ride in a ‘Happy Half Hour’ package.
$1.01 Billion Q4 Losses
Meanwhile, stocks in Caesars Entertainment fell 7.9 per cent to $10.15 in extended trading after the company reported a $1.01 billion Q4 loss. The company’s division that is biggest, 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 was involved in months of settlement and litigation with its creditors that are low-level who argue that its restructuring plan, worked out having its major creditors, unjustly protects the company’s interests during the expense 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 results were key drivers of our fourth quarter performance despite the continuation of exceptionally unfavorable hold at Caesars Palace.’
MGM Will No Longer Allow Cash To Relax And Play At Poker Tables
MGM casinos will no longer allow poker players to use cash during the tables before converting it into chips. (Image: highstakesdb.com)
MGM Resorts will stop permitting cash to be considered ‘in play’ at poker tables in the usa beginning on April 1, a move that will expel possibly the only major way to gamble cash without converting it into chips in their casinos.
According to a written report by on line Poker Report’s Chris Grove, MGM has confirmed the modification, though they have not stated what is behind the decision to not any longer allow cash to be played at the poker tables.
Before the modification, $100 bills that have been on the table during money games in MGM poker rooms were considered to be part of a player’s stack, which could be wagered and might have to be included as an ingredient of any bet that is all-in.
But starting next month, this will no longer be the case at major Las Vegas poker rooms including at the Bellagio, the ARIA, MGM Grand Las Vegas, and the Excalibur.
The move will also impact the Beau Rivage in Biloxi, Mississippi, also the MGM Grand Detroit.
Change Probably Built to Enhance Anti-Money Laundering Standards
While there has been no specific word on why MGM has made the change, speculation that is most has suggested that it is related to some kind of compliance issue, an average reason for casinos to change their money-handing policies.
In particular, MGM could possibly be focused on the federal government’s recent interest in cash laundering policies at casinos: cash is much more problematic for casinos to track than potato chips, especially at higher denominations, where chips have actually RFID tags embedded in them to make sure they may be traced.
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) happens to be more actively speaking about potential problems with anti-money laundering procedures at casinos over the year that is past. In June, FinCEN Director Jennifer Shasky Calvery gave a speech in which she mentioned just how casinos should be having a more ‘risk-based approach’ to anti-money laundering efforts, and that gambling enterprises should become more proactive in their compliance with the Bank Secrecy Act.
Decisions such once the could be a reaction to such requests. FinCEN has additionally recently exposed a working office in Las Vegas, suggesting they are planning on having a closer look at only exactly how the gaming industry protects against money laundering in casinos.
Compliance with IRS standards on reporting is also an issue that is secondary as chips must be cashed out and therefore could be tracked, while cash can go right into a player’s pocket without ever being reported.
Players Have Mixed Views on Cash in Poker Games
As the new rules may be restricting to some players who enjoy having cash at the tables, not totally all poker fans are reacting negatively to the change. In a thread regarding the subject in Two Plus Two’s ‘News, Views and Gossip’ forum, player reaction was mixed, with a few saying that eliminating cash at the tables will also eliminate a ways that are few players can try to cheat during poker games.
‘Fantastic news,’ wrote NickMPK. ‘I hate playing with money on the dining table. It much more difficult to read someone’s stack size, also it facilitates passing fake bills.’
Not everyone agreed that cash had been a real problem at poker tables, nevertheless.
‘[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 modifications will likely arrive at a great many other Las Vegas casinos within the near future, though it’s not likely that all poker rooms would take up such a ‘no cash’ policy any time in the future.
Vegas Mob Writer Susan Berman Murder Suspect Robert Durst Arrested
The long-unsolved murder of Susan Berman, Mob daughter and writer, may finally be thawing out of the Las Vegas cold situation files. The man long suspected of her brutal killing 15 years ago is now in custody in a strange twist of events.
Robert Durst has become something of a household name in current weeks, thanks to an HBO documentary series called The Jinx that step-by-step 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 writer and friend that is long-time of arrestee. While he had been always a suspect in the case because of his propensity for being surrounded with unsolved homicides, there was uncertainty into the Berman case due to just what she had often written about: the history of vegas and her family’s ties to the Mafia, by herself being the daughter Mobster Davie Berman.
Additional Evidence Prompts Arrest
That was enough for many people to suspect she had researched or written about that she was killed for something. But now, police say they do have more fodder pointing to the chance that it had been Durst behind the killing all along.
‘ As a consequence of investigative leads and evidence that is additional has arrive at light in days gone by year, investigators have identified Robert Durst as the person accountable for Ms. Berman’s death,’ the Los Angeles Police said in a declaration released over the week-end.
Durst was chosen up on Saturday, staying under a fake name at the JW Marriott hotel in brand New Orleans. Authorities state they think that Durst ended up being planning to leave the national country and check out Cuba.
‘Jinx’ May Have Uncovered New Proof
Given the promotion surrounding Durst because of The Jinx, many have actually speculated that the makers of the documentary uncovered proof that resulted in their arrest. While there could be some merit compared to that, police have actually tried to downplay the connection between your scheduled system and the decision to arrest him.
‘We based our actions according to the research and the evidence,’ said LAPD Deputy Chief Kirk Albanese. ‘We did not base anything we did regarding the HBO series. The arrest was made as a result of the investigative efforts and at any given time that we believe it was needed.’
For their component, Jinx manager Andrew Jarecki has rejected that there was any deal to have law enforcement make the arrest just before the series finale, which aired Sunday night. Nevertheless, he did acknowledge that it was hard to determine when and just how to share information that was uncovered aided by the authorities.
‘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 https://freeslotsnodownload-ca.com/free-3d-slots/ 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 has been suspected, but not implicated, in other cases since well.
In 1982, his former wife Kathie Durst went missing; her family members has believed he ended up being involved, but this has never been proven. Berman ended up being set to be interviewed by a Westchester County District Attorney about this disappearance when she was killed, which offered 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 might have brought Durst’s questionable participation in these full cases back in 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 final episode, Durst had been heard (perhaps unaware that his microphone was nevertheless live) muttering exactly what some have interpreted as a confession to his crimes.