Customers enjoy the look at board the High Roller Ferris wheel, but there must be 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 isn’t proving to be the money maker that the company 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 almost a year ago as an element of a $550 million redevelopment associated with the area involving the Flamingo and the Linq, formerly the Imperial Palace, and represents a current trend as 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 they don’t, apparently.
Caesars stated this week that while numbers were up 10 percent on 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 could be attracting between 8,000 and 11,000 visitors a 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.
These numbers were extrapolated partly by taking a look at the 2010 figures for similar destinations. 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 business had underestimated the amount of teams and corporate site visitors the ride would attract, adding that this is certainly now being addressed through a wider marketing outreach.
The majority that is vast of 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.
Meanwhile, shares in Caesars Entertainment fell 7.9 per cent to $10.15 in extended 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 protection as the business 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 low-level creditors, who argue that its restructuring plan, resolved using its major creditors, unjustly protects the company’s interests during the cost of their own.
Despite all this, Loveman remained upbeat: ‘Ongoing strength in the business that is interactive new hospitality offerings and sequential improvement in same-store regional results had been key motorists of our fourth quarter performance despite the continuation of exceptionally unfavorable hold at Caesars Palace.’
MGM casinos will no allow poker players longer 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 United States beginning on April 1, a move that will eliminate perhaps the only major way to gamble cash without transforming it into chips in their casinos.
In accordance with a written report by on line Poker Report’s Chris Grove, MGM has confirmed the noticeable change, though they will have not stated what’s behind the decision to no longer allow cash to be played at the poker tables.
Ahead of the modification, $100 bills that were up for grabs during money 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 an ingredient of any all-in bet.
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 also influence the Beau Rivage in Biloxi, Mississippi, also the MGM Grand Detroit.
While there has been no specific term on why MGM has made the modification, speculation that is most has suggested that it relates to some kind of compliance issue, a typical reason for casinos to change their money-handing policies.
In particular, MGM might be worried about the federal government’s recent interest in money laundering policies at casinos: cash is more burdensome for casinos to track than potato 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 past 12 months. In June, FinCEN Director Jennifer Shasky Calvery gave a message in which she discussed how casinos should be going for a more ‘risk-based approach’ to anti-money laundering efforts, and that gambling enterprises should be more proactive in their compliance with the Bank Secrecy Act.
Choices such as the could be a response to requests that are such. FinCEN has additionally recently exposed workplace in vegas, suggesting which they could be planning on having a closer look just how the gaming industry protects against money laundering in casinos.
Compliance with IRS requirements on reporting could also be an issue that is secondary as chips must be cashed out and therefore may be tracked, while cash can go right into a player’s pocket without ever being reported.
While the new guidelines may be restricting with a players who enjoy having cash at the tables, not all poker fans are reacting adversely to the change. 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 get rid of a few techniques players can you will need to cheat during poker games.
‘Fantastic news,’ wrote NickMPK. ‘I hate playing with money regarding the table. It much harder to read an individual’s stack size, plus it facilitates passing fake bills.’
Not everybody agreed that cash had been a problem that is real poker tables, agregar slots 3d max but.
‘[It is] 100x more easier to angleshoot hiding chips that are big $100 bills, and the $100 bills are much easier [to] see from one other end of the table,’ had written posted sevencard2003. ‘This is wonderful news for angleshooters and cheaters.’
According to Grove, similar changes will likely visited a great many other Las Vegas casinos in the near future, though it’s unlikely that most poker spaces would take up such a ‘no cash’ policy any time in the future.
The long-unsolved murder of Susan Berman, Mob daughter and writer, may finally be thawing out 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 something of a home name in current days, thanks to an HBO documentary series called The Jinx that detailed several ‘mysterious’ disappearances and fatalities surrounding the 71-year-old guy.
Now, perhaps many thanks, at the very least in part, to evidence uncovered during that documentary, Durst may finally have to face charges 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 long-time buddy associated with 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.
Which was enough for some individuals 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 possibility that it had been Durst behind the killing all along.
‘ As a consequence of investigative leads and evidence that is additional has come to light in the last year, investigators have identified Robert Durst as the individual accountable for Ms. Berman’s death,’ the l . a . Police said in a declaration released over the weekend.
Durst was picked up on Saturday, staying under a name that is fake the JW Marriott resort in brand New Orleans. Authorities state they believe that Durst had been likely to leave the national country and head to Cuba.
Given the publicity surrounding Durst because of The Jinx, many have actually speculated that the makers of the documentary uncovered proof that led to their arrest. While there may 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 research and the evidence,’ stated LAPD Deputy Chief Kirk Albanese. ‘We didn’t base anything we did on the HBO series. The arrest was made due to the investigative efforts and at any given time that we believe it was needed.’
For his component, Jinx director Andrew Jarecki has rejected that there was any deal to have law enforcement make the arrest right before the series finale, which aired Sunday night. However, he did admit it was hard to figure out when and how to share information that had been uncovered because of the police.
‘We talked a great deal about it with our legal advisors so we said, look, if we go to the authorities now, we’re missing the chance for us to actually get the true story from him, and it may just take years to allow them to do this because the the fact is, as filmmakers, we now have the freedom doing things that maybe the police force authorities wouldn’t have,’ Jarecki stated in an interview on hello America.
Durst happens to be suspected, but not implicated, in other cases since well.
In 1982, his wife that is former Kathie went missing; her family members has believed he ended up being included, but this has never been proven. Berman was set to be interviewed by a Westchester County District Attorney about that disappearance when she was killed, which offered a connection 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 full 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 final episode, Durst was heard (perhaps unaware that his microphone was nevertheless real time) muttering what some have interpreted as a confession to his crimes.