Caesars’ High Roller Ferris Wheel Brief On Revenue Figures

Caesars<span id="more-4735"></span>‘ High Roller Ferris Wheel Brief On Revenue Figures

Customers enjoy the look at board the High Roller Ferris wheel, but there has to be more of them, says Caesars.

Caesars Entertainment’s High Roller Ferris wheel at the Linq is not exactly yet in a deflationary spiral, however it isn’t proving become 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 12 months ago included in a $550 million redevelopment for the area between 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 is hardly revolutionary: the new generation of site visitors prefers a Ferris up to a roulette wheel, the reasoning goes; except 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 means short of expectations; the company had predicted that the ride could be attracting between 8,000 and 11,000 visitors each day, or 3 to 4 million a year.

Persuading around 10 percent of the Strip’s 41 million annual visitors might yield up to $60 million in yearly revenue, the organization had hoped.

Pleased Half Hour

These figures had been extrapolated partly by taking a look at the 2010 figures for similar destinations. Very nearly 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 business had underestimated the total amount of teams and visitors that are corporate trip would attract, adding that this is certainly now being addressed through a broader marketing outreach.

The vast most of cyclists 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 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 negotiation and litigation with its low-level creditors, who argue that its restructuring plan, worked out having 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 interactive business, new hospitality offerings and sequential improvement in same-store regional outcomes were key drivers of our fourth quarter performance despite the continuation of extremely unfavorable hold at Caesars Palace.’

MGM Won’t 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 enabling cash to be considered ‘in play’ at poker tables in the United States beginning on April 1, a move that will eradicate perhaps the only major way to gamble money without transforming it into chips in their casinos.

In accordance with 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 not any 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 being part of a player’s stack, which could be wagered and might have to be included as part of any all-in bet.

But starting next month, this can no longer be the truth at major Las Vegas poker rooms including at the Bellagio, the ARIA, MGM Grand vegas, and the Excalibur.

The move will affect the Beau also Rivage in Biloxi, Mississippi, in addition to the MGM Grand Detroit.

Change Likely Designed to Enhance Anti-Money Laundering Standards

While there has been no specific term on why MGM has made the modification, most speculation has suggested that it relates to some sort of compliance issue, a normal reason for casinos to change their money-handing policies.

In particular, MGM could possibly be concerned about 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 they can be traced in them to ensure.

The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) was more actively referring to potential issues with anti-money laundering procedures at casinos over the year that is past. In June, FinCEN Director Jennifer Shasky Calvery gave a message in which she mentioned how casinos should be going for a more ‘risk-based approach’ to 3d animated slots anti-money laundering efforts, and that casinos should become more proactive in the Bank Secrecy Act to their compliance.

Choices such since the could be a reaction to such requests. FinCEN has additionally recently exposed office in nevada, suggesting 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 may be a secondary issue, as chips must be cashed out and therefore are 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

Whilst the rules that are new be limiting to some players who enjoy having cash at the tables, not 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 a few saying that eliminating cash at the tables will also eradicate a few techniques 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 see someone’s stack size, also it facilitates passing counterfeit bills.’

Not everybody consented that cash had been a real problem at poker tables, nevertheless.

‘[It is] 100x more easier to angleshoot hiding big potato chips than $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 modifications will likely arrived at a great many other Las Vegas casinos in the near future, though it’s unlikely that all poker rooms would take up such a ‘no cash’ policy any time 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 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 current days, 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 the least in part, to evidence uncovered during that documentary, Durst may finally have to manage 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 writer 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.

Additional Evidence Prompts Arrest

That has been enough for some individuals to suspect that she was killed for one thing she had investigated or discussed. But now, police assert they have significantly 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 person responsible for Ms. Berman’s death,’ the Los Angeles Police said in a declaration released over the week-end.

Durst had been selected up on Saturday, remaining under a name that is fake the JW Marriott resort in New Orleans. Authorities say they believe Durst had been about to leave the national country and check out Cuba.

‘Jinx’ May Have Uncovered New Proof

Provided the promotion surrounding Durst because of The Jinx, many have actually speculated that the makers of the documentary uncovered proof that resulted in his arrest. While there might be some merit to that, police have actually tried to downplay the connection between your scheduled program and the decision to arrest him.

‘We based our actions considering the research 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 any given time it had been needed. that we believe’

For their component, Jinx manager Andrew Jarecki has denied that there was any deal to have the authorities make the arrest just before the series finale, which aired Sunday night. But, he did acknowledge that it was difficult to determine when and how to share information that ended up being uncovered with the authorities.

‘We talked a whole lot about it with our legal advisors and we said, look, if we go to the authorities now, we’re missing the opportunity for us to actually get the actual story from him, plus it may just take years to allow them to do that because the truth is, as filmmakers, we have the freedom to complete things that perhaps the police force authorities wouldn’t have,’ Jarecki said in an interview on Good Morning America.

Durst Also Suspected in Disappearance of Wife

Durst happens to be 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 has never been proven. Berman had been set to be interviewed by a Westchester County District Attorney about that disappearance when she was killed, which provided a connection between Durst and Berman’s death.

And in 2003, Durst admitted to neighbor that is dismembering Black, but ended up being acquitted after arguing the killing was done in self-defense.

The Jinx may have brought Durst’s questionable involvement in these 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 still real time) muttering exactly what some have interpreted as a confession to his crimes.

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