Customers enjoy the view on board the High Roller Ferris wheel, but there needs to be a lot more of them, says Caesars.
Caesars Entertainment’s High Roller Ferris wheel at the Linq is not quite yet in a spiral that is deflationary 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 almost a 12 months ago as part of a $550 million redevelopment of the area between the Flamingo and the Linq, previously the Imperial Palace, and represents a present trend as Vegas seeks to diversify its entertainment offering away from traditional gambling.
It’s hardly revolutionary: the generation that is new of prefers a Ferris up to a roulette wheel, the reasoning goes; except that they don’t, apparently.
Caesars stated this week that while numbers were up 10 percent in 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.
Persuading around 10 percent of the Strip’s 41 million visitors that are annual yield up to $60 million in yearly revenue, the company had hoped.
Happy Half Hour
These figures were extrapolated partly by taking a look at the 2010 numbers for similar tourist attractions. Very nearly four million checked out the London Eye that year, even though the Empire State Building had 3.5 million visitors, and 700,000 individuals climbed the Stratosphere in Vegas.
However, Caesars outgoing Chairman and leader Officer Gary Loveman admitted that the business had underestimated the quantity of teams and visitors that are corporate trip would attract, adding that this might be now being addressed through a broader marketing outreach.
The vast most of cyclists so far have been leisure tourists or locals, Loveman explained.
Along with Groupon discounts, airline package discounts and half-price tickets for locals, Caesars has started offering an open bar throughout the 30-minute trip 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 extensive trading after the company reported a $1.01 billion Q4 loss. The business’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 has been involved in months of settlement and litigation with its creditors that are low-level who argue that its restructuring plan, worked out along with its major creditors, unjustly protects the business’s interests at 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 outcomes had been key motorists 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 longer enable poker players to use cash during the tables before converting it into chips. (Image: highstakesdb.com)
MGM Resorts will stop allowing cash to be considered ‘in play’ at poker tables in the usa beginning on April 1, a move that will eliminate possibly the only major way to gamble cash without converting it into chips in their casinos.
According to a study by on the web Poker Report’s Chris Grove, MGM has confirmed the noticeable modification, though they have not stated what is behind the decision to no longer allow cash to be played at the poker tables.
Prior to the modification, $100 bills which were on the table during cash games in MGM poker rooms were regarded as part of a player’s stack, which could be wagered and might have to be included as part of any bet that is all-in.
But starting month that is next this may no longer be the situation at major Las Vegas poker rooms including at the Bellagio, the ARIA, MGM Grand Las vegas, nevada, and the Excalibur.
The move will affect the Beau also Rivage in Biloxi, Mississippi, along with the MGM Grand Detroit.
Change Probably Made to Improve Anti-Money Laundering Standards
While there has been no specific term on why MGM has made the change, speculation that is most has suggested that it relates to some kind of compliance issue, a typical reason for casinos to alter their money-handing policies.
In particular, MGM could be concerned about the federal government’s recent interest in money laundering policies at casinos: cash is much more difficult for casinos to trace than chips, especially at higher denominations, where chips have actually RFID tags embedded in them to make certain they may be traced.
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) was more earnestly speaking about potential issues 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 mentioned how casinos should be having a more ‘risk-based approach’ to anti-money laundering efforts, and that casinos should be more proactive in their compliance with the Bank Secrecy Act.
Choices such while the could be a reaction to such requests. FinCEN has also recently launched office in Las Vegas, suggesting they are planning on having a closer look just just how the gaming industry protects against money laundering in casinos.
Compliance with IRS criteria on reporting is also an issue that is secondary as chips must be cashed out and therefore is tracked, while cash can go right into a new player’s pocket without ever being reported.
Players Have Mixed Views on Cash in Poker Games
While the new rules may be limiting to some players who enjoy having money at the tables, not totally all poker fans are reacting negatively to the modification. In a thread regarding the topic in Two Plus Two’s ‘News, Views and Gossip’ forum, player reaction was blended, with some saying that eliminating cash at the tables will also remove a ways that are few players can you will need to cheat during poker games.
‘Fantastic news,’ wrote NickMPK. ‘I hate playing with cash on the dining table. It much more difficult to read someone’s stack size, plus it facilitates passing fake bills.’
Not everybody agreed that cash was a problem that is real 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,’ had written posted sevencard2003. ‘This is wonderful news for angleshooters and cheaters.’
According to Grove, similar modifications will likely arrived at a great many other Las Vegas casinos in the near future, though it’s not likely that most poker spaces would take up such a ‘no cash’ policy any time soon.
Las Vegas Mob Writer Susan Berman Murder Suspect Robert Durst Arrested
The long-unsolved murder of Susan Berman, Mob daughter and author, may finally be thawing out https://freeslotsnodownload-ca.com/free-3d-slots/ of the Las Vegas case that is cold. 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 one thing of a home name in recent days, thanks to an HBO documentary series called The Jinx that detail by detail several ‘mysterious’ disappearances and fatalities surrounding the 71-year-old guy.
Now, perhaps thanks, at least in part, to evidence uncovered during that documentary, Durst may have to face finally costs 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 friend that is long-time of arrestee. She had often written about: the history of Las Vegas and her family’s ties to the Mafia, herself being the daughter Mobster Davie Berman while he was always a suspect in the case because of his propensity for being surrounded with unsolved homicides, there was uncertainty in the Berman case because of what.
Extra Evidence Prompts Arrest
Which was enough for many people to suspect she had researched or written about that she was killed for something. But now, police assert they do have more fodder pointing to the possibility that it had been Durst behind the killing all along.
‘ As a result of investigative leads and evidence that is additional has come to light in the last year, investigators have identified Robert Durst as anyone accountable for Ms. Berman’s death,’ the la Police said in a statement released over the weekend.
Durst was selected up on Saturday, staying under a fake name at the JW Marriott resort in New Orleans. Authorities state they believe Durst was about to leave the country and head to Cuba.
‘Jinx’ May Have Uncovered New Evidence
Offered 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 compared to that, police have actually tried to downplay the connection between your system and the choice to arrest him.
‘We based our actions based on the investigation and the evidence,’ stated LAPD Deputy Chief Kirk Albanese. ‘We did not base anything we did on the HBO series. The arrest was made as a result of the investigative efforts and at the same time it had been needed. that we believe’
For their part, 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 that it was hard to figure out when and how to share information that had been uncovered with the authorities.
‘We talked a whole 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 is suspected, but not implicated, in other cases because well.
In 1982, his former wife Kathie Durst went missing; her family has believed he had been included, but this has never been proven. Berman ended up being set to be interviewed by a Westchester County District Attorney about that disappearance when she was killed, which provided a link between Durst and Berman’s death.
And in 2003, Durst admitted to neighbor that is dismembering Black, but had been acquitted after arguing the killing was done in self-defense.
The Jinx might have brought Durst’s questionable participation in these cases back to the limelight. In the penultimate episode, the filmmakers revealed Durst a letter he penned which was strikingly much like an anonymous note to police that led them to Susan Berman’s body in 2000.
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.