Customers enjoy the look at board the tall 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 nearly yet in a spiral that is deflationary 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 observation wheel that is tallest.
It opened nearly a year ago included in a $550 million redevelopment of 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 new generation of site visitors prefers a Ferris up to a roulette wheel, the reasoning goes; except that they don’t, apparently.
Caesars said this week that while numbers were up 10 percent in the previous quarter to just under 5,000 daily cyclists, it was still means 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 yearly visitors might yield up to $60 million in yearly income, the organization had hoped.
Happy Half Hour
These figures had been extrapolated partly by taking a look at the 2010 figures for similar tourist 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 company had underestimated the quantity of teams and corporate visitors the trip would attract, adding that this will be now being addressed through a wider marketing outreach.
The majority that is vast of thus 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 extended trading following the ongoing company reported a $1.01 billion Q4 loss. The company’s division that is biggest, Caesars Entertainment Operating Co, has filed for bankruptcy security as the business struggles to reorganize its industry-high debt of over $25 billion.
Meanwhile, Caesars has been involved in months of settlement and litigation with its low-level creditors, who argue that its restructuring plan, exercised along with its major creditors, unjustly protects the business’s interests at 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 drivers of our fourth https://freeslotsnodownload-ca.com/free-3d-slots/ quarter performance despite the continuation of exceptionally unfavorable hold at Caesars Palace.’
MGM Will No Longer Allow Cash To 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 cash that is allowing 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 study by on line Poker Report’s Chris Grove, MGM has confirmed the modification, though they have not stated what’s behind the decision to not any longer allow cash to be played at the poker tables.
Before the modification, $100 bills that have been up for grabs during money games in MGM poker rooms were considered to be 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 scenario 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, along with the MGM Grand Detroit.
Change Likely Built to Enhance Anti-Money Laundering Standards
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 focused on the federal government’s recent interest in cash laundering policies at casinos: cash is 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 could be traced.
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) was more earnestly talking about potential problems with anti-money laundering procedures at casinos over the previous year. In June, FinCEN Director Jennifer Shasky Calvery gave a message in which she discussed just 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.
Decisions such as the could be a response to such requests. FinCEN has also recently started a working office in Las Vegas, suggesting which they can be planning on taking a closer look just how the gaming industry protects against money laundering in casinos.
Compliance with IRS requirements on reporting could also be a secondary issue, 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.
Players Have Mixed Opinions on Cash in Poker Games
Even though the new rules may be restricting for some players who enjoy having cash at the tables, not totally all poker fans are reacting adversely to the modification. In a thread in 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 eliminate a ways that are few players can try to cheat during poker games.
‘Fantastic news,’ wrote NickMPK. ‘I hate playing with money in the dining table. It much more challenging to learn someone’s stack size, and it facilitates passing fake bills.’
Not everyone agreed that cash was a real problem at poker tables, however.
‘[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, comparable changes will likely come to a great many other Las Vegas gambling enterprises in the future that is near though it’s not likely that most poker rooms 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 author, may finally be thawing right out of the Las Vegas cold situation files. In a strange twist of occasions, the man very long suspected of her brutal killing 15 years ago is now in custody.
Robert Durst has become something of a household name in present days, thanks to an HBO documentary series called The Jinx that step-by-step several ‘mysterious’ disappearances and fatalities surrounding the 71-year-old man.
Now, perhaps many thanks, at the very least in part, to evidence uncovered during that documentary, Durst may have to face finally 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 journalist and long-time friend of this 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.
Additional 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 are saying they 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 arrived at light in days gone by year, investigators have identified Robert Durst as the individual accountable for Ms. Berman’s death,’ the l . a . Police said in a statement released over the weekend.
Durst had been picked up on Saturday, staying under a name that is fake the JW Marriott resort in brand New Orleans. Authorities state they believe Durst was likely to leave the national country and check out Cuba.
‘Jinx’ May Have Uncovered New Proof
Offered the publicity surrounding Durst because of The Jinx, many have speculated that the makers of the documentary uncovered evidence that resulted in his arrest. While there may be some merit compared to that, police have actually tried to downplay the connection involving the scheduled program and the choice to arrest him.
‘We based our actions according to 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 as a consequence of the investigative efforts and at the same time that we believe it was needed.’
For his component, Jinx manager Andrew Jarecki has rejected that there was any deal to have law enforcement make the arrest prior to the series finale, which aired Sunday night. However, he did admit it was difficult to figure out when and how to share information that was 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 has been suspected, but not implicated, in other cases as well.
In 1982, his wife that is former Kathie went missing; her family has believed he ended up being included, but it’s never been proven. Berman had been set to be interviewed by a Westchester County District Attorney about this disappearance when she was killed, which supplied a connection between Durst and Berman’s death.
And in 2003, Durst admitted to neighbor that is dismembering Black, but was acquitted after arguing the killing was done in self-defense.
The Jinx might have brought Durst’s questionable involvement in these full cases back in 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 human anatomy in 2000.
In the final episode, Durst ended up being heard (perhaps unaware that his microphone was still real time) muttering exactly what some have interpreted as a confession to his crimes.