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March 20, 2013

Station Casinos Eliminate Some of Highest Paying Machines

Filed under: Casino — Tags: — OCE News @ 2:27 am

In a move that has surprised many, Station Casinos has announced that they are going to be lessening in updating their video poker offerings, getting rid of some of their machines that have generated the most profit for them over the course of the last few years. They are going to go with new machines that are going to give players more options in the way of customizing the backgrounds, and also the way that the cards are dealt to them. Many of the highest paying video poker games are going to be removed from the casino floor, which is a bit of a shock to many analysts in Las Vegas.

They have been known for having some of the best video poker payouts available in all of Las Vegas. However, a number of those machines that have been highly regarded by those that visit the casinos have disappeared. Full pay machines actually allow skilled players to overcome the house advantage, which is one of the reasons why they have become so popular, with some of the older machines quickly disappearing. If they play perfectly, they would be able to earn one dollar for every $100 gamble. The house advantage is only lost when the individual is able to play perfectly, which is a difficult task.

The machine that the casinos have been getting a lot tighter as of late, as companies are working with reduced revenue since 2008, and are attempting to find ways in which they can improve their revenues moving forward. The company did remove some of their 100% machines in favor of 99% machines, please that the percentages and differences are not going to be that drastic among the general visitor base that visit the casino.

The adjustment will allow the company to update to better, more modern machines, while likely increasing the revenue as long as usage stays roughly the same. The company owns eight of the top 10 casinos and the most 100% payouts for any poker video machine. The company currently owns more than 27,000 games with paybacks of 99% or more, which is far more than the nearest competitor. They are looking to increase their selection moving forward as well, and although they have removed some of their best paying machines in favor of more modern machines, you can bet that the company will be adding them back at some point in the near future.

The truth of the matter is that most players are not going to be knowledgeable enough and video poker to be able to take advantage of the ability to out play the computer in the house advantage. Most players will not notice the difference between the machines, which is likely why the company decided to go with the lower payout. It will be interesting to see if this lowers the usage of audio poker machines at their casinos, or whether the new, more modern designs and layouts are more of a draw for the company. More comapanies are expected to join the project at some point in the near future.

March 18, 2013

Caesars to Start Demanding Resort Fees From Guests

Filed under: Casino — Tags: — OCE News @ 2:27 am

Caesars Palace has announced a rather large change in policy. After years of marketing the fact that they were not going tocharge any resort fees, the company announced that they would begin charging resort fees now. They will be adding fees anywhere from $10-$25 starting on 1 March, which is going to cover different charges for amenities, Wi-Fi, the fitness centers that they offer, and a variety of other amenities. The company currently operates a total of nine hotels in the Las Vegas area, including some of the strips biggest names. According to the company, the change was actually something that guests ask for.

The idea was that the company would not charge resort fees, and instead was or goers would have to pay a fee in order to gain access to different amenities, in order to help the company pay for them. Now, everyone will be splitting the cost of these amenities, instead of having to pay for them one by one. The resort fee with something that was a good marketing ploy for the company, but did not work on a practical level when you had to ask your guests to pay additional money in order to gain access to some features that make your resort a popular choice.

A large majority of visitors to the Las Vegas area are not going to think about the resort fee when they are making a decision about whether or not to stay at a given hotel. This fact is one of the main facts of the company to change their policy. After years of using the no resort fees as a marketing ploy, the company decided that the headache that was caused by having to pay for multiple amenities that they offer, was far more detrimental to the company than simply charging additional fees in order to pay for those amenities. Only 30% of those who conducted a recent survey stated that they valued the amenities enough to pay for them separately, if the fees were waived.

The resort fee has become a vital addition for many businesses, and the amount earned is quite high for many different establishments throughout Las Vegas. At some, the fees are able to create revenues that nearly double the cost of the amenities. When the policy was originally launched, fax like that were disclosed to show just that they were actually receiving a much better deal than they had previously considered. However, it is clear that guests do not look at the resort fees, and instead are much more interested in being able to have full access to the resort that they pay for.

The company was not the first major company in Las Vegas to begin charging resort fees. That honor belongs to Station Casinos who first started charging resort fees in 2004. Since that time, many more resorts and hotels have started charging resort fees, as a way to increase their revenue and pay for their amenities. It has become standard throughout most of Las Vegas, and this is likely the reason why Caesars found that their gas were not as open to the idea of having to pay for the amenities separately.

March 15, 2013

New Event Center On the Horizon For Las Vegas Strip Area

Filed under: Casino — Tags: — OCE News @ 3:44 am

The Las Vegas strip is home to some of the most extravagant and amazing resorts on earth. Now, residents of Las Vegas and visitors of the area can look forward to the installation of an event center in the Las Vegas area. The event center has been planned for quite some time, and is going to be modeled on a Eastern European glass factory that caught the eye of the architect. It is going to be developed by the Cosmopolitan of Las Vegas, and will have a 3000 capacity theater. The company has been developing the theater since it opened in 2010, but since that time it has sat empty.

The auditorium is expected to be open by the end of the year. There are going to be many different types of events that will look to utilize the theater including conventions, boxing events, and concerts. The Colosseum at Caesars Palace currently seats 4000, to give you some idea of exactly how large the event center is going to be.

Further announcements were made by CEO John Unwin, who told the Associated Press that the new events center will be named “The Chelsea” and will have 18 foot high ceilings, industrial inspired light fixtures and advantage would embark. He went on to describe how the building would be modeled off of a glass factory in Europe, giving further details into what patrons can expect from the upcoming event center.

“Imagine a glass factory in Czechoslovakia, and then you drop into that a working theater set” he said, “It will make a statement; it’s not just vanilla.”

The space will do a lot for the hotel, allowing you to book even larger conventions than it currently does. The design will it encourage companies to choose the location over some of the other locations that are present on the Las Vegas strip. As the Cosmopolitan looks to expand amid better-than-expected earnings numbers for the company, it is clear that the event center is a large part of their plans moving forward. Unwin went on to describe some of the events that he imagines will be taking place in the event center at some point in the near future.

“You’ll be having the keynote speaker from Google or Apple addressing their group in here one day, and the next day maybe you’ll have a general session in here for a convention, and then the next day you’ll have a big concert or boxing,” he said.

As of right now, the Chelsea Ballroom, is the only event center that is offered by the company. A number of large-scale events have been hosted there, including concerts for Jay-Z and Coldplay on New Year’s Eve, but is expected to be renamed when the larger venue is finally open to the public. As of right now, the company is not willing to disclose the cost of the project, the construction on the event center is expected to begin in March. There will also be a VIP seating and lounge area connected to the event center, which is expected to help to draw crowds to the area once it is open.

March 13, 2013

Online Gambling Looks To Speed Up State Legislation Before Federal

Filed under: Casino — Tags: — OCE News @ 3:43 am

It is clear that online gambling is going to be coming to the United States at some point here in the near future. How soon that happens, is going to depend on who you speak to. There are wide variety of different options that are currently available, and company seem to be preparing for all of them. It will be interesting to see what kind of possibilities are brought up the future, but in the meantime it appears that state legislators are looking to continually expand upon the options that they are offering to local businesses, and find ways to quickly get into the online gambling space, particularly online poker. A few of the measures and events that have transpired recently show just how eager some states are to get into the online poker business.

New Jersey

Recently, Gov. Chris Christie of New Jersey had some very important poker legislation come across his desk. It was at this time that many of the Atlantic city casino stopped and wondered exactly what was going to happen. As it turns out, Chris Christie vetoed the legislation, but said that he would be open to the legislation should it come across his desk with a few moderate changes. This shows that Gov. Chris Christie knows exactly how important gambling is to the Atlantic City area, and New Jersey as a whole. It also shows that he is willing to approve the legislation now, rather than later, before federal legislation to make its way into the public. New Jersey, like Las Vegas, is one of the gambling centers of the United States and produces a lot of revenue through that medium. Of course, it is only logical that they would like to get into online poker, since it is going to provide a lot of revenue for the state.

Las Vegas

Las Vegas has made enormous leaps and bounds in the online gambling industry. With more than 20 companies that have already been approved to offer online poker, the only thing that is awaiting many of these companies is to have the software and platforms that their online solutions are going to run on, evaluated by the gambling control Board and approved by the state. Once that happens, you can bet that Las Vegas is going to become the first state to officially allow online poker, with legislation passed well before federal laws passed. Many of the companies that have already been approved have begun developing their solutions, in preparation for online poker becoming legal. At the same time, those companies are preparing for the incoming federal legislation that they are likely going to have to deal with, and are attempting to find ways in which they can appropriately be ready for either of the circumstances. The governor of the state recently called upon the regulatory committees and legislature to quickly come to a resolution that would allow him to make deals with other states regarding online poker, in an effort to increase the state’s revenue moving forward. Las Vegas, and Nevada in general, have been the gambling hub of America for quite some time, and it is clear that they are looking to hold on to that spot when online poker becomes the norm.

March 11, 2013

Macau Gambling Drives Las Vegas Earnings At the Las Vegas Sands

Filed under: Casino — Tags: — OCE News @ 3:41 am

The Las Vegas Sands is a company that ended last year with record earnings. One of the reasons for the Las Vegas companies huge growth in earnings has been a growth in Macau and other Asian markets that the company has expanded to in recent years. The company has reported that a total of 62% of its fourth-quarter operating profit, a total of more than $1 billion came from the casinos and resorts that they have currently placed in Macau. The chairman of the casinos, Sheldon Anderson, told investors in a recent earnings call that the growth of the company is expected well into the future. The company recently opened a resort in Macau that has more than 2100 rooms, the Sheraton. The company has also planned in addition of more than 200 table games, coming in the first quarter of 2013.

Although Singapore as a country side huge follow 29.1% of the total revenue of the companies stationed there, it still represented about 30% of the company’s overall revenue. The fourth quarter net revenue of the company increased 20.9% to a total of $3.08 billion. This was a record for the company, even before the 2008 financial collapse. The year-end revenue increase the total of 18.3% to a total of $11.13 billion. This was also a record for the company. The company saw huge gambling volume increases in Macau, which drove the operating profits of all of the different resorts located in Macau to a total of $622.2 million. Macau is a region that is known to casino operators as one of the biggest operators of table games, with the growth of 52.6% overall to a record seven and earned $69.6 million.

The Sands Board also announced that they were going to increase their quarterly dividend by a total of 40%. This is good news for shareholders who last year sought 25 cents per-share dividends, and this year are looking to see $.35 per share dividends. The huge gains in China were able to offset some of the losses that the company saw in Las Vegas itself. In fact, the Las Vegas resorts reported quarterly earnings of $87.9 million, which was a total drop of 34.7% over 2011.

It will be interesting to see if the company is able to improve upon their Las Vegas earnings, while still expanding their presence throughout Macau and China. The company is one that is done well, but not so well in their base city of Las Vegas. The company continues to be a record setter when compared to the company’s past, and there are various things that need to be taken into account in order to ensure that they are able to improve upon the revenue that is generated in Las Vegas,and continue their good streak across the globe.

“We’ve been on the ground for some time in Japan, Korea and Vietnam,” Adelson said. “We’re also looking for more opportunities in Europe and South America…I couldn’t be more optimistic about the future.”

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