Vegas’ marketing campaigns positioning the city as hip and happening appear to be working, based on 2013 revenue tallies
This has been awhile since Las Vegas could really upload any very positive news about revenues, but 2013 appears to have been a watershed year economically for las vegas. Figures 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, following a notably flat October, a reality that promises showing exceptional year-end overall figures once compiled.
Second Best of the Year
Turns out was the second best of the year for Las Vegas Strip properties november. Baccarat took house the gold literally with a 94 percent hike, while dining table games also pulled a 53.5 percent jump to their weight, compared to 2012. Certainly no one is ripping down slot machines, but it seems that old-school gambling is the moneymaker these days in the town of Neon.
Statewide, the picture had been also a positive one. Across Nevada, gambling enterprises took in $875.9 million in November, a bump of 11.9 percent when compared with the season prior. And even more encouraging, it was the next monthly hike during days gone by four months.
Las Vegas’ uber-successful advertising campaign of being the coolest, hippest, swag-est place to be on the planet seems to be working as it pertains to gambling as well; the Strip earned $529.4 million in November overall, largely from table games, which includes popular classics such as for instance craps, blackjack, roulette, poker and, of course, baccarat a particularly popular staple with the all-important Asian high-roller quotient.
Whale of a November
Apparently, Las Vegas’ Asian whale and junket brokers are earning their keep; baccarat wagering was up 90.5 per cent versus 2012’s numbers in November. Broken out separately because it’s this kind of high-ticket and lucrative game for the house were baccarat intakes, which hit $129 million. Table games overall brought in $174.7 million, minus baccarat.
‘We believe these results bode positively for bigger Strip operators with significant baccarat volumes, but note the core Las Vegas mass market remains soft with non-baccarat mass volumes down 9.4 %,’ said Wells Fargo Securities gaming analyst Cameron McKnight.
Global visitors were also accountable for the upswing, McKnight told investors. He added that Wynn Resorts Ltd., Las vegas, nevada Sands Corp. and MGM Resorts International all saw the best of that angle in November.
November’s recreations guide figures were no slouch either as the breaks approached, having a $14.3 million intake when compared with a loss of $400,000 during the same time last year.
Also boosting the underside line in November regarding the Strip: an Ultimate Fighting Championship occasion, and one Saturday that is extra on calendar, compared to 2012. A move into the heart of the thirty days by the 140,000-attendee Automotive Aftermarket Industry Week convention versus bridging October/November the season before also made a significant difference in the month’s tallies.
‘November’s Strip strength was expected, given commentary from companies, but not for this degree,’ noted Macquarie Securities gaming analyst Chad Beynon while addressing investors.
Although November was a kingpin thirty days for Sin City, it ended up being February 2013 the thirty days that encompasses the extremely lucrative New that is chinese year earned the most revenues for Las Vegas, with a 31.2 percent hop on the Strip alone. Statewide in Nevada, February saw a 15.1 percent increase in video gaming profits whenever contrasted to 2012.
PokerStars Has a Snipe at Bungled Atlantic Club Closure
PokerStars is vowing to find an Internet home in 2014, after being rejected by Nevada and New Jersey last year.
You have to control it to PokerStars the most-rejected internet poker operator in America these days, labeled in Nevada and New Jersey being a ‘bad star’ and told to go stay in the corner for a few years they are doingn’t state perish easily. And now the company’s executives are saying, stand back, America, we’re coming for you in 2014, regardless of how numerous slaps in the face we possibly may have gotten from regulators.
You Haven’t Heard the final from Us
At the very least that’s the term from indian dreaming pokies download ubiquitous PokerStars corporate communications chief Eric Hollreiser, that is noted in a end-of-year blog that his business intends to ‘…have a strong presence and positive economic impact in the American market in 2014, whether that is in New Jersey or any other state seeking the benefits of being home to a world-class online gaming company.’
Those in-your-face remarks are a definite commentary that is not-very-subtle PokerStars’ conversations with ny State lawmakers. Since New Jersey regulators told PokerStars to lay on the sidelines for at least the next two years and Nevada has nixed suitability for the net poker giant for at the very least four more the business has taken the tac that should you can not beat ‘em, just go elsewhere. And with the Empire State’s recent approval of major land gaming expansion, it just seemed like a good time to casually point out that adding online poker to that mix is actually a extremely lucrative add-on, particularly given New York City’s 8.33 million potential player base from the get-go.
Getting in the Lobby
And by ‘casually mention,’ we really mean lobby the bejesus out of legislators. To be fair, that process started long before the Garden State told PokerStars they might not pass suitability checks for the next two years. And also with that suspension, if PokerStars’ founder Isai Scheinberg’s federal charges get reconfigured in any way, the situation that is whole potentially change. The brand New Jersey Division of Gaming Enforcement has referred to Scheinberg’s fees as ‘unresolved’, despite the elder having reportedly written checks for longer than one billions dollars to your Department of Justice to avoid prosecution. Although PokerStars’s current leader Mark Scheinberg who happens become Scheinberg’s son has stated their business has already established no dealings with the kingpin that is former regulatory investigations allegedly found otherwise, causing them some concern.
Other issues addressed in the we blog included PokerStars’ parent company, Rational Group, and their efforts to purchase the Atlantic City. A long and drawn out connection that fundamentally ended with the casino planning to bankruptcy court, being snapped up by Caesars Entertainment as well as the Tropicana for the fire sale combined price of $23.4 million final month, may have made a few of the closing casino’s former owners wonder what they had been thinking if they initially pulled away from Rational’s deal; the organization had originally invested $11 million into the casino, only to see that money go up in smoke when their deal fell through.
Hollreiser couldn’t resist noting that the Atlantic Club closure which will need place mid-January ‘simply didn’t have to happen'; the shutdown will leave some 650 union employees jobless, and with only a one-time $1,500 severance approved by the courts. Apparently the property’s 1,800 workers are on unique once the casino closes its doorways for good; a reality that might have been forestalled, according to Hollreiser, were it not for the ‘vulture-like management practices’ of the casino’s now ex-owners, who didn’t mind ‘[gambling] making use of their employees’ future.’
Bally Technologies Chief Counsel Retires as Company Forges Ahead
Bally Technologies’ Las Vegas headquarters; the company’s main counsel for 17 yrs recently retired, following a $1.3 billion SHFL acquisition.
Something that cannot be denied is the fact that Las Vegas constantly has and continues to today set the benchmarks, styles and paradigms for just how to run a gaming city. Also Macau that has now far surpassed Las Vegas in terms of pure gambling profits still aspires to emulate Sin City’s nongaming moneymakers: things like costly nightclubs, luxury retail, and five-star restaurants, not to ever point out alleged gentlemen’s clubs, activity and attractions that are special. And, of course, the casinos themselves have developed exponentially over the decades, and all of that requires the design that is careful planning of a few behind-the-scenes leaders who realize just what drives the market.
The People Who Ensure It Is All Happen
Some of those industry leaders people like Steve Wynn and Sheldon Adelson are highly visible, colorful figures in their own right. But some stay in the shadows behind the scenes, making them no less significant within the movement that is forward of vegas gambling industry.
One such individual in that latter category is Mark Lerner, the just-retired lawyer for Bally Technologies. After a career that is 17-year the slot-making giant, Lerner can definitely lay claim to actively participating in how the casino industry has changed and developed during his tenure.
In order to give gaming gear in any particular jurisdiction, Bally must hold a video gaming license there; something that when you yourself have been following any associated with sagas in Massachusetts as operators try to obtain one, isn’t any task that is easy. To be able to offer proper counsel that is legal the slots giant, Lerner also had to get licensed in hundreds of locales: 214, to be exact. In addition to that, 80 % of these areas need a annual renewal for re-licensing.
That means 214+ individual suitability investigations that Lerner has had to endure; considering his own calculations, he says, ‘If you do the math, i have been investigated some 2,000 or 3,000 times.’
It is a man who can’t afford to have a great deal being a parking ticket on his background checks. Plus it seems, he doesn’t have any. Asked if detectives in all these thousands of checks ever created also the slightest red flag, Lerner shrugs and says, ‘Apparently not. I’m pretty boring.’
Positioned Bally Technologies for SHFL Acquisition
Boring or not, Lerner has played a position that is key taking the thing that was as soon as called Alliance Gaming into its current place due to the fact second-largest manufacturer of slot machines, gaming equipment and casino management systems. Adhering to a recent $1.3 billion buyout of SHFL entertainment (sic), Inc. formerly known as Shufflemaster as well as the creators for the zillion-dollar brainstorm concept of a machine that auto-shuffles cards in casinos Bally is now able to lay claim to seven split reporting divisions, and the reported (and most convenient, considering the purchase price) potential for some $1.3 billion in annual sales.
Much has changed in 17 years, mind you. When Lerner joined the company, they still had spinning reel slot devices; naturally, those are now actually a bit of history, with video-based reels. As well as the noticeable changes in technology have largely driven the alterations in the gaming industry itself, according to Lerner.
‘When I began, we owned a few dozen patents,’ noted Lerner. ‘Today, the company has about several hundred. Slot machines are technological marvels.’
While Lerner can be a ‘backstage’ kind of guy, Bally Technology CEO Ramesh Srinivasan credits the attorney’s ‘deep knowledge of gaming’ with much of the company’s meteoric rise to prominence in the casino game.