Caesars’ High Roller Ferris Wheel Brief On Revenue Figures

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

Caesars Entertainment’s High Roller Ferris wheel at the Linq is not exactly yet in a spiral that is deflationary however 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 tallest observation wheel.

It opened very nearly a 12 months ago included in a $550 million redevelopment of the area involving 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 is hardly revolutionary: the generation that is new of prefers a Ferris to a roulette wheel, the reasoning goes; except which they don’t, apparently.

Caesars said this week that while numbers were up 10 percent in the previous quarter to simply under 5,000 day-to-day riders, it was still way short of expectations; the company had predicted that the ride is attracting between 8,000 and 11,000 visitors a day, or 3 to 4 million a year.

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

Pleased Half Hour

These numbers were extrapolated partly by taking a look at the 2010 figures for similar tourist attractions. Almost four million visited the London Eye that year, as 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 amount of groups and visitors that are corporate trip would attract, adding that this really is now being addressed through a wider marketing outreach.

The majority that is vast of to date have been leisure tourists or locals, Loveman explained.

Along with Groupon deals, airline package discounts and half-price tickets for locals, Caesars has begun providing an open bar throughout the 30-minute ride 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 percent to $10.15 in extended trading following the 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 company struggles to reorganize its industry-high debt of over $25 billion.

Meanwhile, Caesars happens to be involved in months of negotiation 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 upbeat: ‘Ongoing strength in the interactive business, new hospitality offerings and sequential improvement in same-store regional results were key drivers of our fourth quarter performance despite the continuation of exceptionally unfavorable hold at Caesars Palace.’

MGM Will No Longer Allow Cash To Relax And Play At Poker Tables

MGM casinos will no allow poker players longer to use cash during the tables before converting it into chips. (Image:

MGM Resorts will stop allowing cash to be considered ‘in play’ at poker tables in the United States beginning on April 1, a move that will expel perhaps the only major way to gamble money without converting it into chips in their gambling enterprises.

Based on a report by Online 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.

Before the change, $100 bills which were on the table during money 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 next month, this will no longer be the actual 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, in addition to the MGM Grand Detroit.

Change Probably Designed to Improve 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 form of compliance issue, an average reason for casinos to change 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 burdensome for casinos to trace than 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 problems 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 talked about how casinos should be going for a more ‘risk-based approach’ to anti-money laundering efforts, and that casinos should become more proactive in their compliance with the Bank Secrecy Act.

Choices such once the could be a reaction to such requests. FinCEN has also recently launched office in nevada, suggesting they might be planning on having a closer look just how the gaming industry protects against money laundering in casinos.

Compliance with IRS standards on reporting may be a secondary issue, as chips must be cashed out and therefore may 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

Although the rules that are new be restricting for some players who enjoy having money at the tables, not all poker fans are reacting adversely to the change. In a thread in the topic in Two Plus Two’s ‘News, Views and Gossip’ forum, player reaction was mixed, with a few saying that eliminating cash at the tables will also beat a few methods players can try to cheat during poker games.

‘Fantastic news,’ wrote NickMPK. ‘I hate playing with money on the dining table. It much more difficult to learn someone’s stack size, plus it facilitates passing fake bills.’

Not everybody consented that cash had been 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 one other end of the table,’ wrote posted sevencard2003. ‘This is wonderful news for angleshooters and cheaters.’

According to Grove, comparable changes will likely arrive at other Las Vegas gambling enterprises within the future that is near though it’s unlikely that all poker spaces 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 out from the Las Vegas cold situation files. 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 months, thanks to an HBO documentary series called The Jinx that detail by detail 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 finally have to handle charges 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.

Additional Evidence Prompts Arrest

That was enough for many people to suspect she had researched or written about that she was killed for something. But now, police assert they have more fodder pointing to the possibility that it absolutely was Durst behind the killing all along.

‘ As a result of investigative leads and additional evidence that has arrived at light in days gone by year, investigators have identified Robert Durst as the person accountable for Ms. Berman’s death,’ the la Police said in a statement released over the week-end.

Durst had been selected up on Saturday, staying under a fake name at the JW Marriott hotel in New Orleans. Authorities state they believe that Durst was likely to leave the national country and check out Cuba.

‘Jinx’ May Have Uncovered New Evidence

Provided the publicity surrounding Durst because of The Jinx, many have speculated that the makers of the documentary uncovered evidence that resulted in their arrest. While there may be some merit to that, police have tried to downplay the connection involving the scheduled program and the decision to arrest him.

‘We based our actions according to the investigation and the evidence,’ stated LAPD Deputy Chief Kirk Albanese. ‘We didn’t base anything we did regarding the HBO series. The arrest was made as a result of the investigative efforts and at any given time it ended up being needed. that we believe’

For his part, Jinx manager Andrew Jarecki has rejected that there was any deal to have the authorities make the arrest just before the series finale, which aired Sunday night. Nevertheless, he did admit that it was tough 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, search, if we go right to the authorities now, we’re missing the chance for us to really get the true story from him, also it may simply take years to allow them to do this because the truth is, as filmmakers, we’ve the freedom to accomplish items that maybe the police authorities wouldn’t have,’ Jarecki stated 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 since well.

In 1982, his former wife Kathie Durst went missing; her family members has believed he had been involved, but it has never been proven. Berman was set to be interviewed by a Westchester County District Attorney about that disappearance when she was killed, which supplied a link 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 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 that has been strikingly similar to an anonymous note to police that led them to Susan Berman’s human anatomy in 2000.

In the final episode, Durst had been heard (perhaps unaware that his microphone was nevertheless real time) muttering just what some have interpreted as a confession to his crimes.