Customers enjoy the take on board the High Roller Ferris wheel, but there has 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 deflationary spiral, nonetheless it is not proving to be the money maker that the business 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 year ago as an element of a $550 million redevelopment for the area between 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 generation that is new of prefers a Ferris to a roulette wheel, the reasoning goes; except they don’t, apparently.
Caesars stated this week that while numbers were up 10 percent regarding the previous quarter to just under 5,000 daily 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 annual visitors might yield up to $60 million in yearly revenue, the company had hoped.
Happy Half Hour
These numbers were extrapolated partly by looking at the 2010 numbers for similar tourist attractions. Very nearly four million visited 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 groups and corporate site visitors the trip would attract, adding that this will be now being addressed through a broader marketing outreach.
The vast majority of cyclists so far 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 percent to $10.15 in extensive trading after the ongoing company reported a $1.01 billion Q4 loss. The business’s division that is biggest, Caesars Entertainment Operating Co, has filed for bankruptcy security as the company struggles to reorganize its industry-high debt of over $25 billion.
Meanwhile, Caesars happens to be involved in months of settlement and litigation with its creditors that are low-level who argue that its restructuring plan, resolved using 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 business that is interactive new hospitality offerings and sequential improvement in same-store regional results had been key drivers of our fourth quarter performance despite the continuation of extremely unfavorable hold at Caesars Palace.’
MGM Won’t Allow Cash To Try Out 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 enabling 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 money without converting it into chips in their gambling enterprises.
According to a report by Online Poker Report’s Chris Grove, MGM has confirmed the noticeable modification, though they will have not stated what is behind the decision to no longer allow cash to be played at the poker tables.
Before the change, $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 would have to be included as part of any all-in bet.
But starting next month, this will no longer be the truth at major Las Vegas poker rooms including at the Bellagio, the ARIA, MGM Grand Las Vegas, and the Excalibur.
The move will also influence the Beau Rivage in Biloxi, Mississippi, also the MGM Grand Detroit.
Change Likely Built to Enhance Anti-Money Laundering Standards
While there freeslotsnodownload-ca.com has been no specific word on why MGM has made the modification, speculation that is most has suggested that it is related to some form of compliance issue, a typical 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 more burdensome for casinos to trace than potato chips, especially at higher denominations, where chips have actually RFID tags embedded in them to make sure they could be traced.
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) was more actively talking about potential problems with anti-money laundering procedures at casinos over the past 12 months. In June, FinCEN Director Jennifer Shasky Calvery gave a speech in which she mentioned 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.
Choices such since the could be a reaction to such requests. FinCEN has additionally recently launched a working office in Las Vegas, suggesting they can be planning on going for a closer look just exactly 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 can be tracked, while cash can get right into a player’s pocket without ever being reported.
Players Have Mixed Views on Cash in Poker Games
Whilst the rules that are new be restricting with a players who enjoy having money at the tables, not absolutely all poker fans are reacting negatively to the modification. In a thread regarding the subject in Two Plus Two’s ‘News, Views and Gossip’ forum, player reaction was blended, with a few saying that eliminating cash at the tables will also get rid of 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 harder to learn someone’s stack size, also it facilitates passing fake bills.’
Not everyone agreed that cash had been a problem that is real poker tables, but.
‘[It is] 100x more easier to angleshoot hiding big chips than $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 many other Las Vegas gambling enterprises in the near future, though it’s not likely that most poker rooms 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 from 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 household name in present weeks, thanks to an HBO documentary series called The Jinx that detailed several ‘mysterious’ disappearances and deaths surrounding the 71-year-old guy.
Now, perhaps thanks, at the very least in part, to evidence uncovered during that documentary, Durst may have to face finally costs for one or more of those deaths.
Durst was arrested on Saturday night in New Orleans for the 2000 murder of Susan Berman, a crime journalist 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 some people to suspect she had researched or written about that she was killed for something. But now, police say they have more fodder pointing to the chance that it absolutely was Durst behind the killing all along.
‘ As a consequence of investigative leads and evidence that is additional has visited light in the last year, investigators have identified Robert Durst as the individual responsible for Ms. Berman’s death,’ the l . a . Police said in a declaration released over the weekend.
Durst was picked up on Saturday, remaining under a fake name at the JW Marriott hotel in New Orleans. Authorities state they believe Durst had been about to leave the national country and head to Cuba.
‘Jinx’ May Have Uncovered New Evidence
Offered the publicity surrounding Durst because of The Jinx, many have actually speculated that the makers of the documentary uncovered evidence that led to his arrest. While there might be some merit to that particular, police have actually tried to downplay the connection involving the program and the choice to arrest him.
‘We based our actions considering the investigation and the evidence,’ said LAPD Deputy Chief Kirk Albanese. ‘We did not base anything we did in the HBO series. The arrest was made due to the investigative efforts and at a time that we believe it was needed.’
For their part, Jinx director Andrew Jarecki has denied that there was any deal to have the authorities make the arrest prior to the series finale, which aired Sunday night. However, he did acknowledge that it was tough to figure out when and how exactly to share information that ended up being uncovered with all the police.
‘We talked a whole lot about it with our legal advisors and we said, search, if we go directly to the authorities now, we’re missing the chance for us to truly get the real story from him, plus it may take years for them to do that because the facts are, as filmmakers, we now have the freedom to do things that possibly the law enforcement authorities wouldn’t have,’ Jarecki said in an interview on hello America.
Durst Also Suspected in Disappearance of Wife
Durst was suspected, but not implicated, in other cases as well.
In 1982, his wife that is former Kathie went missing; her household has believed he ended up being 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 supplied a match up 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 may have brought Durst’s questionable involvement in these full cases back in to the limelight. In the penultimate episode, the filmmakers showed Durst a letter he composed which was strikingly just like an anonymous note to police that led them to Susan Berman’s human anatomy in 2000.
In the episode that is final Durst had been heard (perhaps unaware that his microphone was still real time) muttering exactly what some have interpreted as a confession to his crimes.