Las vegas’ marketing campaigns positioning the populous city as hip and happening seem to be working, based on 2013 revenue tallies
It has been awhile since Las Vegas could actually post any extremely positive news about profits, but 2013 has been a watershed year financially for las vegas. 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, carrying out a notably flat October, a reality that promises showing year-end that is excellent figures once compiled.
Second Best of the 12 Months
Turns out November was the next best of the year for Las Las vegas Strip properties. Baccarat took home the gold literally with a 94 percent hike, while dining table games also pulled a 53.5 percent jump to their weight, when compared with 2012. Certainly no body is ripping away slot machines, but it appears that old-school gambling is the moneymaker these days in the City of Neon.
Statewide, the picture had been also a positive 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 3rd hike that is monthly days gone by four months.
Las Vegas’ uber-successful marketing campaign of being the coolest, hippest, swag-est place to be on the planet appears to be working when it comes to gambling because well; the Strip brought in $529.4 million in November overall, largely from table games, which includes popular classics such as craps, blackjack, roulette, poker and, of course, baccarat an especially popular staple with the all-important high-roller quotient that is asian.
Whale of a November
Apparently, Las Vegas’ Asian whale and junket brokers are earning their baccarat that is keep; wagering up 90.5 percent versus 2012’s numbers in November. Broken out separately because it’s this type of high-ticket and lucrative game for the home were baccarat intakes, which hit $129 million. Table games overall brought in $174.7 million, minus baccarat.
‘We believe these results bode positively for larger Strip operators with significant baccarat volumes, but note the core Las Vegas market that is mass soft with non-baccarat mass volumes down 9.4 percent,’ said Wells Fargo Securities gaming analyst Cameron McKnight.
Overseas visitors were also responsible 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 activities book figures were no slouch either as the breaks approached, with a $14.3 million intake when compared with a loss of $400,000 during the same time frame year that is last.
Also boosting the bottom line in November on the Strip: an Ultimate battling Championship occasion, and one extra Saturday on the calendar, contrasted to 2012. A move into the heart associated with the month by the 140,000-attendee Automotive Aftermarket Industry Week convention versus bridging October/November the entire year before also made a difference that is significant the month’s tallies.
‘November’s Strip strength was anticipated, provided commentary from companies, but not to this degree,’ noted Macquarie Securities gaming analyst Chad Beynon while addressing investors.
Although November was a kingpin month for Sin City, it was February 2013 the month that encompasses the extremely lucrative Chinese brand new Year that brought in many revenues for vegas, with a 31.2 percent jump on the Strip alone. Statewide in Nevada, saw a 15.1 percent increase in gaming revenues when compared to 2012 february.
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 nj-new Jersey year that is last.
You must hand it to PokerStars the most-rejected poker that is online in America these days, labeled in Nevada and New Jersey as a ‘bad star’ and told to go sit in the corner for a couple years they don’t state die easily. And today the company’s executives are saying, stand back, America, we’re coming we may have gotten from regulators for you in 2014, no matter how many slaps in the face.
You have not Heard the final from Us
A strong presence and good financial impact into the American market in 2014, whether that is in New Jersey or another state seeking the benefits of being home to a world-class online video gaming business. at least that’s the term from ubiquitous PokerStars corporate communications chief Eric Hollreiser, who’s noted in a end-of-year blog that his company intends to ‘…have’
Those in-your-face remarks really are a commentary that is not-very-subtle PokerStars’ discussions with nyc State lawmakers. Since New Jersey regulators told PokerStars to take a seat on the sidelines for at least the next two years and Nevada has nixed suitability for the Internet poker giant for at the least four more the ongoing company has taken the tac that in the event that you can’t beat ’em, just go elsewhere. And with the Empire State’s recent approval of major land gaming expansion, it just seemed like a time that is good casually mention that adding online poker to that mix could be a very lucrative add-on, particularly given New York City’s 8.33 million potential player base through 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 began long before the Garden State told PokerStars they are able to not pass suitability checks for the following two years. And also with that suspension, if PokerStars’ founder Isai Scheinberg’s federal fees get reconfigured in any way, the situation that is whole potentially change. The brand New Jersey Division of Gaming Enforcement has known Scheinberg’s fees as ‘unresolved’, despite the elder having reportedly written checks for over one billions bucks to the Department of Justice in order to avoid prosecution. Although PokerStars’s current leader Mark Scheinberg who occurs to be Scheinberg’s son has said 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 play indian dreaming pokies free in the blog included PokerStars’ parent company, Rational Group, and their efforts to acquire the Atlantic City. A long and drawn out discussion that ultimately ended with the casino going to bankruptcy court, being snapped up by Caesars Entertainment as well as the Tropicana for the fire sale combined cost of $23.4 million final month, could have made some of the closing casino’s former owners wonder whatever they had been thinking when they initially pulled away from Rational’s deal; the business had originally invested $11 million into the casino, simply to see that money go up in smoke when their deal fell through.
Hollreiser could not resist noting that the Atlantic Club closure which takes place mid-January ‘simply didn’t have to happen’; the shutdown shall leave some 650 union employees jobless, sufficient reason for only a one-time $1,500 severance approved by the courts. Apparently the property’s 1,800 employees are on their once the casino closes its doors once and for all; a reality that could 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] along with their employees’ future.’
Bally Technologies Chief Counsel Retires as Company Forges Ahead
Bally Technologies’ Las Vegas headquarters; the business’s main counsel for 17 yrs recently retired, adhering to a $1.3 billion SHFL acquisition.
Something that cannot be denied would be the fact that Las Vegas constantly has and continues to today set the benchmarks, trends and paradigms for 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 such as high priced nightclubs, luxury retail, and five-star restaurants, not to ever mention alleged gentlemen’s groups, activity and special attractions. And, needless to say, 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 understand 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 very visible, colorful characters 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 Las vegas, nevada gambling industry.
One such individual in that second category is Mark Lerner, the just-retired a 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 a casino industry has changed and developed during his tenure.
In order to offer gaming equipment in any specific jurisdiction, Bally must hold a video gaming license there; a thing that if you have been following any for the sagas in Massachusetts as operators try to obtain one, is no easy task. To be able to provide proper counsel that is legal the slots giant, Lerner also had to get licensed in hundreds of locales: 214, to be exact. In addition, 80 % of these markets need a yearly renewal for re-licensing.
That means 214+ individual suitability investigations that Lerner has had to endure; according to their own calculations, he says, ‘If you do the math, i am investigated some 2,000 or 3,000 times.’
This is usually a man whom can’t afford to have a great deal as a parking ticket on his background checks. Plus it appears, he doesn’t have any. Asked if detectives in all these thousands of checks ever came up with even 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 key place in taking the thing that was when called Alliance Gaming into its current place once the second-largest manufacturer of slots, gaming gear and casino management systems. Carrying out a recent $1.3 billion buyout of SHFL entertainment (sic), Inc. formerly known as Shufflemaster therefore the creators of the zillion-dollar brainstorm concept of a machine that auto-shuffles cards in casinos Bally are now able to lay claim to seven split reporting divisions, and the reported (and most convenient, taking into consideration the purchase price) potential for some $1.3 billion in annual sales.
Much has changed in 17 years, head you. Whenever Lerner joined up with the business, they nevertheless had reel that is spinning machines; naturally, those are now actually a piece of history, with video-based reels. While the noticeable alterations in technology have largely driven the changes in the gaming industry itself, according to Lerner.
‘When I started, we owned a dozen that is few,’ noted Lerner. ‘Today, the company has about a few 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 understanding of gaming’ with much of the organization’s meteoric rise to prominence within the casino game.