Caesars' High Roller Ferris Wheel Brief On Income Figures

Caesars<span id="more-9560"></span>' High Roller Ferris Wheel Brief On Income Figures

Customers enjoy the view on board the High 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 deflationary spiral, but 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 as an element of a $550 million redevelopment of this area between 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's hardly revolutionary: the generation that is new of prefers a Ferris up to a roulette wheel, the reasoning 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 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 each 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 income, the organization had hoped.

Happy Half Hour

These figures were extrapolated partly by looking at the 2010 numbers for similar attractions. Nearly four million visited the London Eye that year, while 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 company had underestimated the quantity of teams and visitors that are corporate trip would attract, adding that this is now being addressed through a broader marketing outreach.

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

Along with Groupon discounts, airline package discounts and half-price tickets for locals, Caesars has begun providing an open bar through 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 per cent to $10.15 in extended trading following the company reported a $1.01 billion Q4 loss. The organization'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 happens to be involved in months of negotiation and litigation with its creditors that are low-level who argue that its restructuring plan, resolved with its major creditors, unjustly protects the business's interests at the expense of their own.

Despite all this, Loveman remained positive: 'Ongoing strength in the business that is interactive 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: highstakesdb.com)

MGM Resorts will stop permitting cash to be considered 'in play' at poker tables in the usa beginning on April 1, a move that will eradicate possibly the only major way to gamble money without converting it into chips in their gambling enterprises.

In accordance with a written report by on line Poker Report's Chris Grove, MGM has confirmed the noticeable change, though they have not said what is behind the decision to no longer allow cash to be played at the poker tables.

Before the change, $100 bills which were up for grabs during money games in MGM poker rooms were regarded as being part of a player's stack, which could be wagered and would have to be included as part of any bet that is all-in.

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

The move will also influence the Beau Rivage in Biloxi, Mississippi, along with the MGM Grand Detroit.

Change Likely Built to Improve Anti-Money Laundering Standards

While there has been no specific word on why MGM has made the modification, speculation that is most has suggested that it is related to some sort of compliance issue, a typical reason for casinos to alter their money-handing policies.

In particular, MGM could be focused on the federal government's recent interest in money laundering policies at casinos: cash is much more difficult for casinos to trace than potato chips, especially at higher denominations, where chips have RFID tags embedded they can be traced in them to ensure.

The Treasury Department's Financial Crimes Enforcement Network (FinCEN) was more earnestly discussing potential issues with anti-money laundering procedures at casinos over the previous 12 months. In June, FinCEN Director Jennifer Shasky Calvery gave a message in which she mentioned exactly how casinos should be going for a more 'risk-based approach' to anti-money laundering efforts, and that casinos should become more proactive in the Bank Secrecy Act to their compliance.

Decisions such once the could be a response to such requests. FinCEN has additionally recently exposed a working workplace in Las Vegas, suggesting which they could be planning on going for a better look just 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 may be tracked, while cash can go right into a player's pocket without ever being reported.

Players Have Mixed Views on Cash in Poker Games

While the rules that are new be restricting with a players who enjoy having money at the tables, not absolutely all poker fans are reacting negatively to the modification. 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 get rid of a few ways that players can make an effort to cheat during poker games.

'Fantastic news,' wrote NickMPK. 'I hate playing with cash regarding the dining table. It much more challenging to learn a person's stack size, and it facilitates passing counterfeit bills.'

Not everyone consented that cash was a problem that is real poker tables, nevertheless.

'[It is] 100x more easier to angleshoot hiding big chips than $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 modifications will likely arrived at many other Las Vegas casinos in the near future, though it's not likely that most poker rooms would take up such a 'no cash' policy any time in the future.

Nevada Mob Writer Susan Berman Murder Suspect Robert Durst Arrested

The long-unsolved murder of Susan Berman, Mob daughter and writer, may finally be thawing out of the Las Vegas case that is cold. In a strange twist of events, 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 current days, thanks to an HBO documentary series called The Jinx that detail by detail several 'mysterious' disappearances and deaths surrounding the man that is 71-year-old.

Now, perhaps thanks, at the very least in part, to evidence uncovered during that documentary, Durst may finally have to face prices 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 long-time buddy associated with the 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 some people to suspect that she was killed for something she had researched or discussing. But now, police assert they do have more fodder pointing to the chance 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 had been chosen up on Saturday, remaining under a name that is fake the JW Marriott hotel in New Orleans. Authorities state they think that Durst ended up being likely to leave the national country and head to Cuba.

'Jinx' May Have Uncovered New Proof

Given the publicity surrounding Durst because of The Jinx, many have actually speculated that the makers of the documentary uncovered proof that led to his arrest. While there could be some merit to that particular, police have tried to downplay the connection involving the scheduled system 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 any given time that we believe it was needed.'

For their component, Jinx manager Andrew Jarecki has rejected that 3d wheel of fortune slots there was any deal to have the police make the arrest just before the series finale, which aired Sunday night. However, he did acknowledge that it was tough to figure out when and how to share information that had been 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 is suspected, but not implicated, in other cases because well.

In 1982, his wife that is former Kathie went missing; her family has believed he had been included, but it has never been proven. Berman was set to be interviewed by a Westchester County District Attorney about this disappearance when she was killed, which supplied a match up 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 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 ended up being heard (perhaps unaware that his microphone was still real time) muttering just what some have interpreted as a confession to his crimes.