Vegas Revenues Rebounded Heartily in 2013

Vegas Revenues Rebounded Heartily in 2013

Vegas’ advertising campaigns positioning the city as hip and happening seem to be working, based on 2013 income tallies

It has been awhile since Las Vegas could really publish any really news that is positive profits, but 2013 appears to have been a watershed year financially 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, following a significantly flat October, a truth that promises showing exceptional year-end overall figures once compiled.

Second Best of the Year

Turns out November was the next best of the season for Las Las vegas Strip properties. Baccarat took house the gold literally with a 94 percent hike, while dining table games also pulled their weight with a 53.5 % jump, in comparison to 2012. Certainly nobody is ripping away slot machines, but it seems that old-school gambling is the moneymaker these full days in the City of Neon.

Statewide, the image was 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 much more encouraging, it absolutely was the 3rd hike that is monthly days gone by four months.

Las Vegas’ uber-successful advertising campaign of being the coolest, hippest, swag-est place to be in the world is apparently working as it pertains to gambling since 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 basic with the all-important high-roller quotient that is asian.

Whale of a November

Apparently, Las Vegas’ Asian whale and junket agents are earning their baccarat that is keep; wagering up 90.5 per cent versus 2012’s numbers in November. Broken out separately because it’s this kind of high-ticket and game that is lucrative the house were baccarat intakes, which hit $129 million. Table games overall brought in $174.7 million, minus baccarat.

‘We believe these outcomes bode positively for larger Strip operators with significant baccarat volumes, but note the core Las Vegas mass market remains soft with non-baccarat mass volumes down 9.4 per cent,’ said Wells Fargo Securities gaming analyst Cameron McKnight.

Global visitors had been also accountable for the upswing, McKnight told investors. He added that Wynn Resorts Ltd., Las Vegas Sands Corp. and MGM Resorts International all saw the very best of that angle in November.

November’s sports 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 final year.

Also boosting the underside line in November regarding the Strip: an Ultimate battling Championship event, and one Saturday that is extra on calendar, compared to 2012. A move into the heart for 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 expected, offered commentary from companies, but not to the 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 New that is chinese year brought in many revenues for Las Vegas, with a 31.2 percent hop on the Strip alone. Statewide in Nevada, saw a 15.1 percent increase in gaming revenues when compared to 2012 february.

PokerStars Takes 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 need to hand it to PokerStars the most-rejected on-line poker operator in America these days, labeled in Nevada and New Jersey as a ‘bad actor’ and told to go sit in the corner for some years they don’t say die easily. Now the company’s professionals 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 Haven’t Heard the past from Us

A strong presence and good financial impact within the American market in 2014, whether that is in nj-new jersey or another state seeking the advantages 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 an end-of-year blog that his company intends to ‘…have’

Those in-your-face comments are a definite commentary that is not-very-subtle PokerStars’ conversations with ny State lawmakers. Since brand New Jersey regulators told PokerStars to sit on the sidelines for at least the next two years and Nevada has nixed suitability for the Internet poker giant for at the very least four more the ongoing business has taken the tac that in the event that you can’t beat ’em, just go elsewhere. Along 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 particular mix is actually a very lucrative add-on, particularly offered ny City’s 8.33 million prospective 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 started well before the Garden State told PokerStars they might not pass suitability checks for the next two years. And even with that suspension, if PokerStars’ founder Isai Scheinberg’s federal charges get reconfigured in any way, the situation that is whole potentially alter. The brand New Jersey Division of Gaming Enforcement has described Scheinberg’s costs as ‘unresolved’, despite the elder having reportedly written checks for over one billions bucks towards the Department of Justice in order to avoid prosecution. Although PokerStars’s present leader Mark Scheinberg who occurs to be Scheinberg’s son has said their business has received no dealings with the previous kingpin, 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 shop for the Atlantic City. A long and drawn out discussion that ultimately ended with the casino planning to bankruptcy court, being snapped up by Caesars Entertainment therefore the Tropicana for the fire sale combined cost of $23.4 million month that is last could have made a number of the closing casino’s former owners wonder whatever they had been thinking once they at first pulled away from Rational’s deal; the business had initially invested $11 million into the casino, only to see that money go up in smoke when their deal fell through.

Hollreiser could not resist noting that the Atlantic Club closure which will need place mid-January ‘simply didn’t have to happen’; the shutdown shall leave some 650 union workers jobless, along with only a one-time $1,500 severance approved by the courts. Apparently the property’s 1,800 employees take their own once the casino closes its doors once and for all; a reality that has 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 business’s primary counsel for 17 yrs recently retired, following 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 exactly to run a gaming town. Even Macau which includes 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 shopping, and five-star restaurants, not to ever point out so-called gentlemen’s groups, activity and attractions that are special. And, of course, the casinos themselves have developed exponentially over the decades, and all of that requires the careful design and planning of a few behind-the-scenes leaders who comprehend just what drives the market.

The People Who Make It All Happen

Some of these industry leaders people like Steve Wynn and Sheldon Adelson are very visible, colorful characters in their own right. But some sit in the shadows behind the scenes, making them no less significant in the movement that is forward of Las Vegas gambling industry.

One such person in that latter category is Mark Lerner, the just-retired a lawyer for Bally Technologies. After a career that is 17-year the slot-making giant, Lerner will surely lay claim to actively participating in how a casino industry has changed and evolved during his tenure.

In order to deliver gaming gear in any particular jurisdiction, Bally must hold a gaming license here; a thing that if you have been following any regarding the sagas in Massachusetts as operators try to obtain one, is no easy task. So that you can 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 percent of these areas require a yearly renewal for re-licensing.

That means 214+ individual suitability investigations that Lerner has had to endure; centered on his own calculations, he states, ‘If you do the mathematics, i have been investigated some 2,000 or 3,000 times.’

This can be a man who can not afford to have a great deal as a parking ticket on his background checks. Also it appears, he doesn’t have any. Asked if detectives in all these thousands of checks ever developed even the slightest flag that is red Lerner shrugs and says, ‘Apparently not. I’m pretty boring.’

Positioned Bally Technologies for SHFL Acquisition

Boring or not, Lerner has played a key position in taking the thing that was as soon as called Alliance Gaming into its current place as the second-largest maker of slot machines, gaming gear and casino administration systems. Following a recent $1.3 billion buyout of SHFL entertainment (sic), Inc. formerly known as Shufflemaster and also the creators of this zillion-dollar brainstorm concept of a machine that auto-shuffles cards in gambling enterprises Bally is now able to lay claim to seven separate reporting divisions, and the reported (and most convenient, taking into consideration the sale price) potential for some $1.3 billion in annual sales.

Much has changed in 17 years, head you. Whenever Lerner joined the company, they nevertheless had reel that is spinning devices; obviously, those are actually a bit of history, with video-based reels. Plus the noticeable changes in technology have largely driven the changes in the video gaming industry itself, according to Lerner.

‘When I began, we owned a few dozen patents,’ 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 a lot of the company’s meteoric rise to prominence in the casino game.