Caesars<span id="more-16503"></span>‘ High Roller Ferris Wheel Short On Income Figures

Customers enjoy the view on board the tall 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 quite yet in a deflationary spiral, however it is not proving become the money maker that the organization 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 almost a year ago as part of a $550 million redevelopment associated with the area involving the Flamingo and the Linq, previously the Imperial Palace, and represents a recent trend as Vegas seeks to diversify its entertainment offering away from traditional gambling.

It is hardly revolutionary: the generation that is new of prefers a Ferris up to a roulette wheel, the thinking goes; except 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 day-to-day cyclists, it was still means quick of expectations; the company had predicted that the ride is attracting between 8,000 and 11,000 visitors per day, or 3 to 4 million a year.

Convincing around 10 percent of the Strip’s 41 million visitors that are annual yield up to $60 million in yearly income, the company had hoped.

Happy Half Hour

These numbers had been extrapolated partly by taking a look at the 2010 numbers for similar destinations. Almost four million checked out the London Eye that year, even though the Empire State Building had 3.5 million visitors, and 700,000 people climbed the Stratosphere in Vegas.

However, Caesars outgoing Chairman and Chief Executive Officer Gary Loveman admitted that the business had underestimated the quantity of teams and visitors that are corporate ride would attract, adding that this might be now being addressed through a broader marketing outreach.

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

Along with Groupon deals, airline package discounts and half-price tickets for locals, Caesars has started offering 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 ongoing 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 happens to be involved in months of settlement and litigation with its creditors that are low-level who argue that its restructuring plan, exercised along with its major creditors, unjustly protects the company’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 outcomes had been key motorists of our fourth quarter performance despite the continuation of exceptionally unfavorable hold at Caesars Palace.’

MGM Will No Longer Allow Cash To Try Out At Poker Tables

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

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 eliminate possibly the only major way to gamble money without transforming it into chips in their casinos.

Based on a report by on line Poker Report’s Chris Grove, MGM has confirmed the noticeable change, though they’ve 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 cash games in MGM poker rooms were considered to be part of a player’s stack, which could be wagered and could have to be included as part of any all-in bet.

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

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

Change Probably Designed to Enhance Anti-Money Laundering Standards

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

In particular, MGM might be worried about the federal government’s recent interest in cash laundering policies at casinos: cash is much more problematic for casinos to trace than potato chips, especially at higher denominations, where chips have actually RFID tags embedded in them to ensure they can be traced.

The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) was more actively discussing potential problems with anti-money laundering procedures at casinos over the past 12 months. In June, FinCEN Director Jennifer Shasky Calvery gave a speech in which she mentioned how casinos should be having a more ‘risk-based approach’ to anti-money laundering efforts, and that casinos should be 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 a working office in Las Vegas, suggesting they could be planning on having a closer look at just how the gaming industry protects against money laundering in casinos.

Compliance with IRS standards on reporting could also be an issue that is secondary as chips must be cashed out and therefore is tracked, while cash can get right into a new player’s pocket without ever being reported.

Players Have Mixed Views on Cash in Poker Games

While the new rules may be restricting to some players who enjoy having cash 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 remove a ways that are few players can make an effort to cheat during poker games.

‘Fantastic news,’ wrote NickMPK. ‘I hate playing with cash on the table. It much harder to see an individual’s stack size, plus it facilitates passing counterfeit bills.’

Not everybody agreed that cash was a real issue at poker tables, nevertheless.

‘[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,’ had written posted sevencard2003. ‘This is wonderful news for angleshooters and cheaters.’

According to Grove, similar changes will likely visited 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 any time in the future.

Vegas Mob Writer Susan Berman Murder Suspect Robert Durst Arrested

The long-unsolved murder of Susan Berman, Mob daughter and writer, may finally be thawing right out of the Las Vegas cold case files. In a strange twist of occasions, the man very long suspected of her brutal killing 15 years ago is now in custody.

Robert Durst has become something of a household name in present months, thanks to an HBO documentary series called The Jinx that detailed several ‘mysterious’ disappearances and deaths surrounding the 71-year-old man.

Now, perhaps many thanks, at the very least in part, to evidence uncovered during that documentary, Durst may finally have to face prices for at least one 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. While he was always a suspect in the event because of his propensity for being surrounded with unsolved homicides, there was doubt into the Berman case due to what she had often written about: the history of vegas and her family members’ ties to your Mafia, herself being the daughter Mobster Davie Berman.

Extra Evidence Prompts Arrest

That was enough for some individuals to suspect that she ended up being killed for one thing she had researched or written about. But now, police say 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 days gone by year, investigators have identified Robert Durst as anyone responsible for Ms. Berman’s death,’ the l . a . Police said in a statement released over the week-end.

Durst was picked up on Saturday, staying under a name that is fake the JW Marriott hotel in brand New Orleans. Authorities say they think that Durst had been planning to leave the national country and head to Cuba.

‘Jinx’ May Have Uncovered New Proof

Given the promotion 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 compared to that, police have tried to downplay the connection between the system and the decision to arrest him.

‘We based our actions considering the investigation and the evidence,’ stated LAPD Deputy Chief Kirk Albanese. ‘We did not base anything we did regarding the HBO series. The arrest was made due to the investigative efforts and at a time that we believe it was needed.’

For his component, Jinx director 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. However, he did acknowledge it was tough to determine when and how exactly to share information that ended up being uncovered using the authorities.

‘We talked a lot about it with our legal advisors and now we said, search, if we go to the authorities now, we’re missing the opportunity for us to really get the actual story from him, also it may take years in order for them to accomplish that because the truth is, as filmmakers, we have the freedom to do items that perhaps the police authorities wouldn’t have,’ Jarecki said in an interview on Good Morning America.

Durst Also Suspected in Disappearance of Wife

Durst is suspected, but not implicated, in other cases as well.

In 1982, his wife that is former Kathie went missing; her family members has believed he was included, but it’s never been proven. Berman was set to be interviewed by a Westchester County District Attorney about that disappearance when she was killed, which provided a match up between Durst and Berman’s death.

And in 2003, Durst admitted to dismembering neighbor Morris Black, but had been acquitted after arguing the killing was done in self-defense.

The Jinx might have brought Durst’s questionable participation in these full cases back in to the limelight. In the penultimate episode, the filmmakers showed Durst a letter he published which was strikingly similar to an anonymous note to police that led them to Susan Berman’s body in 2000.

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

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