Vegas Revenues Rebounded Heartily in 2013

Vegas Revenues Rebounded Heartily in 2013

Vegas’ marketing promotions positioning the populous city as hip and occurring seem to be working, based on 2013 revenue tallies

This has been awhile since Las Vegas could actually publish any extremely news that is positive profits, but 2013 has been a watershed year economically for Sin City. Numbers posted end-of-year by the Nevada Gaming Control Board show a whopping 22.6 percent spike in gaming revenues for the month of November, adhering to a significantly flat October, a reality that guarantees to exhibit year-end that is excellent figures once compiled.

Second Best of the 12 Months

Turns out was the second best of the year for Las Vegas Strip properties november. Baccarat took home the gold literally with a 94 percent hike, while dining table games also pulled their fat with a 53.5 per cent jump, compared to 2012. Certainly no body is ripping out slot machines, but it appears that old-school gambling is the moneymaker these full days in the City of Neon.

Statewide, the image was also a good one. A bump of 11.9 percent compared to the year prior across Nevada, casinos took in $875.9 million in November. And many more encouraging, it had been the next hike that is monthly the last four months.

Las Las Vegas’ uber-successful strategy of being the coolest, hippest, swag-est place to be on the planet is apparently working when it comes to gambling since well; the Strip brought in $529.4 million in November overall, largely from t Continue reading “Vegas Revenues Rebounded Heartily in 2013”

Caesars Preps for Possible Revel-ation in Atlantic City

Caesars Preps for Possible Revel-ation in Atlantic City

Hail, Caesars Entertainment: the casino business may or may not be eyeing Atlantic City’s Revel as their newest acquisition

We question that the Roman emperor himself kept his name front side and center because well as Caesars Entertainment Corporation does today. And despite continuing to hold the gaming industry’s debt load that is heaviest hovering at the $24 billion mark, buying and building new properties doesn’t seem to be a issue with this casino conglomerate.

Lately, they’ve been in talks with Japanese leaders to create a potential new casino in Osaka just as video gaming is legalized in Japan, and now the news that is latest, according to some insider reports, is the fact that they’ve their eye on Atlantic City’s problem kid casino, Revel.

Could Revel Be Next on Their List?

Revel officially went into bankruptcy straight back in March 2013; not even 12 months into its once-gloriously touted entrance onto the Atlantic City land gaming that is beleaguered scene. Now anyone interested in snatching the casino up has under a couple of weeks to submit a bid, and according to Bloomberg, Caesars is not a slam dunk with this purchase; neither is it even 100 % specific they shall even make a move to take action.

Other contenders are in the mix; those include Orlando-based complex Rock Global, who the ny Post last month reported as being in ‘advanced negotiations’ for the purchase. That was after a decision by Hard Rock t Continue reading “Caesars Preps for Possible Revel-ation in Atlantic City”

Nevada Casinos Can’t Win for Losing for Fifth Straight Year

Nevada Casinos Can’t Win for Losing for Fifth Straight Year

It absolutely was the 5th 12 months running for a downturn in Nevada’s web revenues for fiscal 2013, in line with the Gaming Control Board

It absolutely was bad news and type of good news for the Silver State’s casinos when Nevada’s Gaming Control Board circulated their annual Gaming Abstract Report late last week. The bad news was that Nevada’s 263 combined casinos experienced a fifth straight year of economic net losses; but the good news is that their actual intake revenues increased a tad contrasted to 2012.

However, a web loss is a net loss, and fiscal 2013 had been a little bit even worse than 2012, with a final tally of minus $1.348 billion,compared to $1.212 billion in 2012.

Slow Recovery

It is all part of the infant step recovery process from Nevada’s massive turndown from the nation’s recession, which certainly hit this casino-centric area hard since 2009. In fact, fiscal 2008 was the final time Nevada’s casinos general showed a net profit, and that was for $721.1 million. The following year, their state took its biggest hit, having a $6.8 billion web loss for casinos statewide. Ouch.

The nevada Strip naturally sets the rate with regards to Nevada video gaming, and a small 1.7 per cent revenue jump throughout the last fiscal 12 months simply wasn’t enough to go out of a revenue; overall, Strip casinos marked a $1.5 billion loss for the season. But once again, some silver lining here; that loss was s Continue reading “Nevada Casinos Can’t Win for Losing for Fifth Straight Year”

PokerStars’ Dire Straits End: Money for Something, No Chips for Free

PokerStars’ Dire Straits End: Money for Something, No Chips for Free

A reinterpretation associated with the law by the DoJ could open the entranceway for PokerStars to enter the brand New Jersey market at last.

Just when you can’t possibly become anymore cynical how justice is meted out on the planet, a new boomerang gets tossed that hits you square in your head. Such is the latest into the U.S. Department of Justice’s power to bend, rotate, mutate and essentially rewrite what the law states when they can potentially squeeze some more income out of it to add to their coffers.

Needless to say, we would never ever mean that any deals that are backhanded going on, however you can arrived at yours conclusions with this one.

Justice 2.0

Unnamed sources are rumored to have admitted that the DoJ is suddenly available to an interpretation that is new of law, one which basically lets non-American citizens and any businesses they might be involved with off the hook with any criminal costs. Word may be the justice that is federal encourage corporate fines which we’re pretty sure won’t be chump change in addition to pleas that could kill any pending charges, as long as those companies haven’t any U.S. physical presence whatsoever.

Is not it just so convenient that this occurs to encompass the situation that is exact allows PokerStars until now saddled with the dreaded ‘bad actor’ designation that has kept the major online site out of the running in both Nevada and New Je Continue reading “PokerStars’ Dire Straits End: Money for Something, No Chips for Free”