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July 19, 2011

Plaza Hotel Renovations Going Well

Filed under: Casino — Tags: , , — OCE News @ 12:05 pm

The $35 million renovation of the Plaza Hotel is still taking place. It is scheduled to be ready for reopening by this summer.

Economical Thinking

One of the main reasons behind the renovations of the hotel is to try and cut costs on running the establishment. For example, 45 watt bulbs are being replaced with the 3 watt variety. Fixtures and furnishings were brought from the Fontainebleau, which was never actually opened and that has helped in cutting costs. In fact, nearly all that was needed for the rooms was acquired from this source, from beds and chairs to marble and carpeting. The remaining pieces were purchased from Buffalo Bill’s, which is located in Primm.

Although the actual cost on how much was paid for the Fontainebleau deal wasn’t disclosed, the CEO of PlayLV, Tony Santo, described it as “cents on the dollar.”

The Renovation

Although bought at a bargain price, the renovated hotel doesn’t give that feel at all. The rooms are very modern in appearance and are equipped with high-quality chrome fixtures, stunning Jacuzzi tubs, and beautiful marble bathrooms. All the rooms have sitting rooms as well as couches, brand new linen, and wall coverings.

The design has been described as an amalgamation of both old and modern Las Vegas. Old photographs and murals will be blended in with brand new furnishings. Although the aim is to renovate the building, the operators also want to honor the casino’s 40-year-old history.

“The whole thing is trying to get the existing customers that were here mixed in with some new customers,” explained Steven Rosen, Chief Marketing Officer. “We want everyone to feel comfortable.”

Santo went on to add, “It’s more of a traditional Las Vegas experience downtown, but then you have Fremont East where you have that new generation of customers coming down here.”

Currently, the main floor of the Plaza Hotel has been completely gutted and soon new table games, slots, and a sports book will be added. Restaurants and bars will be located around the edge; however, no information on who will supply the food and drink has been released.

The Plaza Hotel had not been renovated for a long time, about two decades, and so this is a welcome move. In fact, it’s being viewed more as an update.

“I wouldn’t even call this a renovation. It’s a complete remodel,” explained Santo. “I think when the Plaza closed; people didn’t believe what we could do. It’s a big investment in the Plaza and a big investment in downtown.”

A New Feel

The Plaza Hotel is leaving behind its Rat Pack Show and moving on to offer more modern entertainment. However, the showroom will be kept as it was, making it one of the only showrooms to stay the same throughout the years.

Talks are currently underway, as to how the Plaza will be marketed. Rosen explained that they want people to go out specifically for the hotel: “That’s really what we want — the people who are coming to Vegas to say ‘Hey, there’s a new experience.’”

July 17, 2011

Maloof’s Palm’s Ownership Decreases To 2 Percent

Filed under: Casino — Tags: , , — OCE News @ 12:01 pm

George Maloof, the owner of Palms, stated on June 21 that the casino’s management will not be changed, even though the family’s share will be cut down to 2 percent. The rest is to be shared between Leonard Green & Partners and TPG Capital.

Staying Within the Family

Maloof explained that he is to stay the chairman of Palms, and that the casino’s operations will not have to contend with a massive overhaul.

He feels that they’re now in a better position and stated, “Not having any debt is a pretty good position to be in, and we’re going to grow at the Palms and look at things that we want to do here and look at other opportunities.”

Share and share alike

Leonard Green & Partners and TPG Capital will receive a share of 49 percent each. Maloof explained that this deal will rid the casino of over $400 million of debt. However, about $20 million of debt is still linked to Palms Place, which is a condo-hotel tower.

Although the Maloof family is left with a 2 percent share, they can purchase back up to 20 percent by means of warrants and options. However, this will depend on the future development of the casino.

Despite the restructuring, Maloof is adamant that he does not feel there will be much change operationally. “I think we always want to look at ways to do things better. That’s the intent,” he added.

The application has been submitted; however, until approval will be granted by the Nevada gambling regulators, the deal is contingent.

Caesars Entertainment Corp

Caesars Entertainment Corp, which is the biggest gambling organization in the world and has nine casinos located in Las Vegas, is the main stakeholder in TPG Capital. However, the proposed leadership plan of Palms is not the same as Caesars and there has been no talk about Palms having a place in Caesars’ portfolio.

In 2010, Caesars made a deal to purchase Planet Hollywood by changing $306 million of the casino’s debt into equity, which it then purchased for $70 million as well as assuming loans of $554 million.

Caesars is renowned for its methods of attracting gamblers through Total Rewards, its loyalty program. It works by honing in on gamblers up for spending large amounts of money and tempting them with personalized offers and freebies. It then gets these gamers to play in Las Vegas by using the little casinos spread across the US.

The Palms Comparison

The Palms has not been doing too well for the last three years. This is in line with a number of other casinos located in Las Vegas. Due to the economic slowdown, many visitors have been spending less and construction projects that were given capital before the economic downfall managed to make the competition worse.

The Palms’ main focus is using nightlife and celebrities to entice visitors. It recently held the 2011 NHL Awards and on June 25, the NBA star Shaquille O’Neal’s retirement celebration.

July 15, 2011

“Survivor” Contestant Approved For Casino Game

Filed under: Casino — Tags: , , — OCE News @ 11:50 am

Although Rupert Boneham has been on “Survivor,” a reality television show, he has never managed to win on all three occasions. However, in what some have coined as a consolation prize, the Nevada Gaming Commission has approved of his casino game called “Rupert’s Island Draw.”

Unanimous Approval

The Nevada Gaming Commission was highly impressed by Boneham’s enthusiasm, which also helped him become popular on “Survivor.” In the television show contestants are able to vote others off the remote island on which the game is played.

Boneham, dressed in a brightly colored tie-dye t-shirt that he’s renowned for wearing, along with Richard Legenza, his consultant, showed the commissioners how the game worked.

However, the game wasn’t the only point the commissioners wanted to discuss, as reflected by Commissioner Randolph Townsend’s comment, “I see on your resume that you were born in January of 1964. I just wanted to tell you that that was around the time I first wore a shirt like the one you’re wearing.”

The Game Idea

Boneham has never managed to win “Survivor,” although he has now competed for a total of three times. He managed to spend 100 days in the wilderness. In 2003 for “Survivor: Pearl Island,” he finished eighth; in 2004 on “Survivor All-Stars,” he came fourth; and for “Heroes vs. Villains,” which aired last year he managed to finish in the sixth place. For the season that went out in 2004, he won $1 million, when he was voted by fans nationwide as the favorite player of the series. Boneham explained that it was while on the island as the program was being recorded that he came up with the idea for his casino game.

Game Leases

The game is currently being played at one Golden Nugget table only. Here, the game is played with a minimum wager of either $5 or $10 and a maximum of $300. However, Boneham now wants to try and negotiate more leases with different casinos, now that he has managed to obtain a license.

He has stated that if the game is successful, he wants to extract 20 percent of his gross profits and set up a satellite office in Las Vegas for Rupert’s Kids. Rupert’s Kids is a charity that was founded by Boneham in Indianapolis, his home city, to assist young children at high risk with vocational qualifications. After his presentation to the commissioners, Boneham explained that he was going to the bank to open an account for Rupert’s Kids.

The Rules

“Rupert’s Island Draw” has been described as a form of reverse blackjack that also combines elements from baccarat and poker. It is played using 16 24 card decks of aces up to sixes. The aim is to have cards in your hand that have a value less than the cards held by the dealer. Boneham wants to develop the game further; however, with the addition of side bets.

July 13, 2011

Gambling Boat, Victory Casino, Prepares To Set Sail

Filed under: Casino — Tags: , , — OCE News @ 11:48 am

On June 20, the employees of Victory Casino Cruises went aboard their cruise ship. The plan is that the cruiser will set sail by the end of this month.

The Ship

Victory 1 has been billed by its operators as “America’s Largest Casino Cruise Ship.” They are now awaiting the US Coast Guard inspections to be finalized. Once the ship will pass the inspections, it will be ready for its maiden voyage.

It’s currently based at Terminal Number 2, which is in proximity to Jetty Park. The cruise ship has a massive area of 5,500 square feet and would employ up to 300 people. The ship consists of brand new carpeting, fixtures, lighting, seating, and signage, as well as top quality gambling machines.

Altogether, gamblers will have four floors to enjoy. This will include a nightclub, Club V, and a sports lounge. Those who want to indulge in gambling should head to the second and third levels.

Missed Deadlines

The plan is that the cruiser will be ready by the end of June. A spokesperson for Victory Casino, Christine Boyd, said, “It’s up to the Coast Guard, and it’s a process the ship has to go through. If all goes according to the plan, the first sailing should be by the end of June.”

Boyd also added that it would be no surprise if another couple of weeks were also required. Originally, it was estimated that the opening would happen last November. However, this date was pushed ahead a number of time before the latest date was revealed.

There are two main reasons behind the delays. One is that the cruiser  went through bankruptcy hearings, similar to what happened to the SunCruz Casinos ship. The second is connected to the fact that a multi-million dollar overhaul was carried out on the whole vessel, which took up more time.

Anticipation

There has been a lot of excitement surrounding the opening of this floating casino. It will provide an interesting alternative to traditional, land-based gambling. Restaurants and bars in proximity to where the ship will dock also expect to benefit from it.

Kay’s Place is based near Terminal Number 2. A bartender from this establishment, Carol McCormack, commented, “We expect it to be standing-room only right around happy hour. And when the ship returns from a midnight sailing, we expect it to be standing-room only then.”

Before Victory 1, the Sterling Casino set sail from the same spot and Kay’s Place enjoyed an increase in customers. They hope to see a repeat of this.

A plan by the operators is that a shuttle bus service will bring in gamers from the surrounding hotels. It’s estimated that this alone will bring in nearly 160,000 customers. Passengers will be expected to pay $10 for entry and free drinks are available while they play. A buffet will also be available, but for an extra charge.

July 11, 2011

Des Plaines Casino Set To Open In July

Filed under: Casino — Tags: , , — OCE News @ 11:45 am

The long planned casino complex Rivers Casino is finally set to open on July 18, 2011. This is pending the approval of the Illinois Gaming Board. It will be built in Des Plaines, located in Chicago.

“We are excited to open the doors to the Rivers Casino,” said Neil Bluhm, Midwest Gaming and Entertainment LLC Chairman. “It is a showplace attraction for the entire region. We have considered every detail with our customers in mind.”

The Casino Layout

The new Rivers Casino will consist of about 1,050 slot machines and nearly 48 table games. On June 21, officials stated that the table games will offer the largest betting limits across the state. The slots are to be placed along the aisles, while the gaming tables will be found in the center of the casino, adjacent to the cocktail lounge, Lotus, which will rise above the floor of the casino.

The Marketing Vice President for Rivers Casino, Albert Liu, explained, “It’s laid out to be very open, very spacious. You won’t get lost.”

There will be four restaurants on offer, the most expensive being chop House and Hugo’s Frog. The casino will also offer two lounges. One of these is Cube, which consists of an outdoor patio covering a number of levels, capable of being both a sports bar and a music venue with a capacity of up to 500 people.

Even the restrooms are worth a mention, being adorned with dark wooden paneling and stunning stone, which is also found throughout the rest of the building.

Along with extravagant toilet facilities, the Rivers Casino also incorporates eco-friendly components. For example, skylights and LED lights have been used to help save on energy and the Canopy will be  decorated with two walls of live vines.

On the other hand, the casino will also provide a garage with five floors as well as a surface lot with 2,300 parking spaces.

Liu stated, “We think it will blow away anything else here in the gaming market.”

Prime Location

The single-storey building is still under construction. However, it has been estimated that this gambling hall, which stretches out to over 147,000 square feet, will be one of the top casinos in Chicago.

One of the main reasons is its location—it’s based at the corner of Devon Avenue and River Road in the southeastern region of Des Plaines, which is opposite to Rosemont with its mass of busy hotels and the convention center. This means that there are at least 16,000 hotel rooms in proximity to the casino. It’s also only 16 miles from the center of Chicago and very near to O’Hare Airport.

High-Stakes Gambling

Although the upper table limits have not yet been released, it has been revealed that high-stakes gambling will be offered. Those who wish to partake in such gaming will be offered a more discrete gaming area, with an invitation lounge also included.

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