aaron • March 5, 2020 • Comments Off on Caesars’ High Roller Ferris Wheel Short On Income Figures
Customers enjoy the view on 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, however it is not 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 tallest observation wheel.
It opened very nearly a 12 months ago as part of a $550 million redevelopment of this area involving the Flamingo and the Linq, formerly the Imperial Palace, and represents a recent trend as 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 thinking goes; except which 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 per 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 company had hoped.
These figures had been extrapolated partly by looking at the 2010 numbers for comparable destinations. Almost four million visited the London Eye that 12 months, as the Empire State Building had 3.5 million visitors, and 700,000 individuals climbed the Stratosphere in Las vegas.
However, Caesars outgoing Chairman and Chief Executive Officer Gary Loveman admitted that the business had underestimated the amount of groups and business site visitors the trip would attract, adding that this really is now being addressed through a wider 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.
Meanwhile, stocks in Caesars Entertainment fell 7.9 per cent to $10.15 in extended 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 business struggles to reorganize its industry-high debt of over $25 billion.
Meanwhile, Caesars was involved in months of settlement and litigation with its low-level creditors, who argue that its restructuring plan, resolved with its major creditors, unjustly protects the company’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 were 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 at 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 america beginning on April 1, a move that will eradicate possibly the only major way to gamble money without converting it into chips in their casinos.
Based on a study by Online Poker Report’s Chris Grove, MGM has confirmed the change, though they will have not said what’s behind the decision to not any longer allow cash to be played at the poker tables.
Prior to the change, $100 bills that were up for grabs during cash games in MGM poker rooms were regarded as part of a player’s stack, which could be wagered and could have to be included as an ingredient of any all-in bet.
But starting next month, this will no longer be the case at major Las Vegas poker rooms including at the Bellagio, the ARIA, MGM Grand nevada, and the Excalibur.
The move will also impact the Beau Rivage in Biloxi, Mississippi, also the MGM Grand Detroit.
While there has been no specific word on why MGM has made the change, speculation that is most has suggested that it relates to some kind of compliance issue, an average reason for casinos to alter their money-handing policies.
In particular, MGM could be focused on the federal government’s recent interest in cash laundering policies at casinos: cash is more problematic 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 referring to potential problems with anti-money laundering procedures at casinos over the past year. In June, FinCEN Director Jennifer Shasky Calvery gave a message in which she talked about how casinos should be having 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 requests that are such. FinCEN has also recently launched workplace in Las vegas, nevada, suggesting which they may be planning on taking a better look at only just how the gaming industry protects against money laundering in casinos.
Compliance with IRS criteria 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.
Whilst the rules that are new be limiting with a players who enjoy having money at the tables, not totally all poker fans are reacting negatively to the modification. In a thread on 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 eliminate a few methods players can make an effort to cheat during poker games.
‘Fantastic news,’ wrote NickMPK. ‘I hate playing with cash regarding the table. It much harder to see a person’s stack size, plus it facilitates passing fake bills.’
Not everyone agreed that cash had been a real problem at poker tables, but.
‘[It is] 100x more easier to angleshoot hiding big potato chips than $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, comparable modifications will likely arrived at a great many other Las Vegas gambling enterprises into the future that is near though it’s unlikely that most poker rooms would take up such a ‘no cash’ policy anytime soon.
The long-unsolved murder of Susan Berman, Mob daughter and author, may finally be thawing out from the Las Vegas case that is cold. In a strange twist of activities, the man long suspected of her brutal killing 15 years ago is now in custody.
Robert Durst has become one thing of a household name in present weeks, thanks to an HBO documentary series called The Jinx that step-by-step several ‘mysterious’ disappearances and deaths surrounding the man that is 71-year-old.
Now, perhaps thanks, at least in part, to evidence uncovered during that documentary, Durst may have to face finally 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 author 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.
That has been enough for some people to suspect she had researched or written about that she was killed for something. But now, police say they have significantly more fodder pointing to the chance that it absolutely was Durst behind the killing all along.
‘ As a result of investigative leads and additional evidence that has arrive at light in days gone by year, investigators have identified Robert Durst as the person accountable for Ms. Berman’s death,’ the Los Angeles Police said in a statement released over the week-end.
Durst was picked up on Saturday, staying under a fake name at the JW Marriott hotel in New Orleans. Authorities say they believe Durst ended up being about to leave the country and check out Cuba.
Provided the promotion surrounding Durst best 3d free slots because of The Jinx, many have actually 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 between the system and the choice to arrest him.
‘We based our actions based on 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 because of the investigative efforts and at a time it had been required. that we believe’
For his part, Jinx manager Andrew Jarecki has rejected that there was any deal to have law enforcement make the arrest just before the series finale, which aired Sunday night. But, he did acknowledge it was hard to figure out when and just how to share information that had been uncovered using the authorities.
‘We talked a 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 is suspected, but not implicated, in other cases because well.
In 1982, his wife that is former Kathie went missing; her household has believed he ended up being involved, but it offers never been proven. Berman was set to be interviewed by a Westchester County District Attorney about this 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 in to the limelight. In the penultimate episode, the filmmakers revealed Durst a letter he had written that was strikingly just like an anonymous note to police that led them to Susan Berman’s human body in 2000.
In the episode that is final Durst ended up being heard (perhaps unaware that his microphone was nevertheless real time) muttering exactly what some have interpreted as a confession to his crimes.