Online Casino Edition – Casino News News about online casinos and gambling

November 14, 2013

Some Gaming Professionals Are Now Suggesting That Industry is Now Saturated

Filed under: Casino — Tags: , — OCE News @ 2:49 am

According to some gaming industry experts, the gaming industry is now saturated. They suggest that most areas of the country have reached their saturation point. The one noted exception is Texas. What they are saying, in simple terms, is that one would be hard pressed to find a location within the US where a player could not drive for a few hours (or less) and reach a gaming destination. This was suggested by a panel of executives all involved in the gaming industry.

According to Penn National Gaming President Tim Wilmott, “New England is saturated. The market is crowded in Ohio. It’s a little underserved in Florida.”

For those who may be wondering what all this means. According to some on the panel, it means that new casinos will not be built as quickly as they have in the past. Growth will come through other avenues such as mergers and acquisitions. There may also be some growth in the online gaming world once the issues it has are resolved.

The issue of saturation is not exclusive to the US. Many international markets are now becoming very crowded. Of those that still have some opportunities, Southeast Asia seems to be the best bet. Two major markets, Japan and South Korea, both are considering bringing in casinos into their countries. On a lesser scale, Mexico and South America may have some room for new growth as well. Europe, the panel suggests, is already as established as it is likely to be for some time to come.

The panel also suggested that with so little room left for brick and mortar outlets, gaming companies may turn to the online world for new opportunities. This may not happen soon as the online world has its own problems that need to be resolved before any large ventures can take place there.

Of the many problems facing online gaming is the issue of what the federal government is going to do. Many are still waiting for lawmakers to get around to forming a national gaming regulatory plan. Lawmakers do not seem to be any hurry to get this work done. Because national leaders are dragging this out, the panel suggest the next best bet is to work through states, one by one.

Of course, if online gambling is approved, what effect is that going to have on traditional casinos that rely on customers walking into the establishment? The panel agreed that no one really knows the answer to that issue just yet. Not everyone is pessimistic about online gaming biting too deep into brick and mortar casino profits. The problem, some suggest, is to use online venues to offer special incentives for visiting a brick and mortar establishment.

All in all, however, the panel says that consolidations and mergers will most likely be the wave of the future when it comes to gaming growth. For its part, Pinnacle is now finishing up a nearly $3 billion acquisition of Ameristar Casinos. And other companies are also into deals as well that involve mergers.

November 12, 2013

Two Cantor Execs Under Pressure From the Feds; One Pleads Guilty

Filed under: Casino — Tags: , — OCE News @ 2:47 am

In this first story: the Wall Street Journal has reported that Lee Amaitis, who is the President and CEO of Cantor Gaming, is under investigation by federal prosecutors. They are looking into whether Amaitis, who is Cantor Fitzgerald LP’s top gaming exec, was involved with the company allegedly taking illegal sports bets. These bets are said to have come a gambling ring known as Jersey Boys who are based out of New York.

Lee Amaitis, who is the one actually under investigation, started Cantor Gaming some nine years ago. According to the Wall Street Journal, Amaitis was suspected of being involved once a former director of Cantor Gaming pleaded guilty to accepting wagers illegally. This individual is Michael Colbert, who was a vice president of the company and director of the company’s risk management department. Colbert, who is 33, went to federal court on Sept. 21 and pled guilty in that New York court. It should be noted that according to the Wall Street Journal, no allegations have been made against Lee Amaitis to date.

A statement was released by Cantor Gaming official Robert Hubbell. It said: “We feel compelled to address this irresponsible and baseless rumor. The notion that Lee Amaitis is a target of federal prosecutors or that he participated in illegal bookmaking is baseless and false.”

The story on Colbert broke a few weeks ago.

According to press releases, Colbert, who is the former director of risk management for Cantor Gaming, pled to one felony charge. The charge was being involved with a conspiracy to take illegal sports bets on a national level for a betting ring based in New York. That ring was busted last year by police.

Colbert entered his guilty plea on Sept. 21. This was done in federal court in the state of New York and it came after the U.S. Attorney began to prosecute the case. This is according to court records.

Court papers say that Colbert was accused of knowing and allowing the New York-based betting ring to place illegal sports bets using what is called runners. It was said that runners are individuals who take and then place these illegal bets as part of their work with the ring. In Oct of 2012, police took into custody some 25 people who were alleged to be part of the bookmaking ring. Of those arrested, 8 were from Vegas. And of these, Colbert was among the most prominent.

It is no secret that Cantor Gaming is known for revolutionizing the then sports betting industry within the state of Nevada. Colbert played a major role in this when he was with M Resort in Henderson.

It is known that Colbert was very inventive with coming up with new betting options that were then offered by Cantor Gaming. One of his most popular ideas was with starting fantasy-sports wagering for football and basketball in 2012. Colbert never shied away from the media and would often analyze games and as well as betting patterns. He will be sentenced on Dec 9.

November 10, 2013

Culinary Union May Try to Provoke Members to be Arrested

Filed under: Casino — Tags: — OCE News @ 2:45 am

It seems as though the troubles between the Culinary Union and the Cosmopolitan will continue for some time to come. It was recently announced that over 100 members of the union are now planning to have themselves arrested by Metro Police when they next protest on the Strip. This will be the second time that the union has done this in their protest with the Cosmopolitan over stalled contract talks.

The union is calling this an act of civil disobedience. As of right now, the protest is scheduled to occur on Nov 1 sometime between the hours of 5 and 7 p.m. What was not released by the union was just how the members who plan on being arrested will accomplish that goal.

If this happens, the new arrests will be the second time the union has taken this kind of action. The last time it happened was on March 20. At that incident, some 98 union protesters were arrested for sitting in the Strip and blocking traffic. At some point, Metro police officers stepped in and arrested the people, loading them into a police bus and taking them away from the scene where in excess of 2,000 Culinary union picketers continued to demonstrate. They were protesting for nearly 2,000 workers of the Cosmopolitan who have been showing up for work now for over two years but have not been able to get a new contract from the hotel.

According to union officials, the union is attempting to get a new contract with the Cosmopolitan that will include work weeks of 40 hours as well as conditions that will provide better job security. They are also seeking to get certain health care contributions. In addition, union members are also asking for new contracts that would include certain clauses that will promise that the new contract would remain in effect even if the hotel resort is sold to another entity. This particular clause is being asked for because the hotel resort which is owned by the Deutsche Bank is struggling financially and has been struggling for some years now. The Cosmopolitan opened in 2010.

As for the union, it is said to represent nearly 60,000 food servers, maids and bartenders. It has made no secret of its intention to get this new contract for these workers. In recent weeks, video has come out of some disturbing behavior by some of its members. Posted on the internet, the video that was taken shows a member of the union shouting at people who are entering the hotel, calling them names and causing some disturbances among other people who were on the property. When asked about this, union officials made no apologies, saying that they believe these types of tactics are fair game in a situation such as this. They say that their members are only taking advantage of their First Amendment rights and they see nothing wrong with their members being vocal on this issue. They vow to continue the protests until they get the new contract.

November 8, 2013

Hitting the Clubs Is Just About As Popular as Vegas Gambling

Filed under: Casino — Tags: , — OCE News @ 2:43 am

While it still true that most people come to Vegas for the gaming opportunities, another venue is now showing signs of becoming just about as popular. That venue is clubbing. As more and more entertainment venues come into existence, this trend is only going to continue. And that could mean some trouble to those businesses that rely on gaming customers.

In a poll that was taken earlier this year, conducted by a gambling lobby, it discovered that nearly 26 percent of those people who are casino patrons are now choosing to spend their money on clubbing. This is especially true for those who enjoy going to what are called the mega-clubs. As mentioned above, this is being seen as a problem for casinos who are now losing that income.

For their part, club owners are thrilled that they are seeing so much new, and steady, business coming through their doors. To keep the ball rolling, they are adding some big names to their entertainment lineups as well as investing in modern optics such as laser shows. Their goal is to provide their patrons with some of the most exciting evenings in Vegas. In terms of lasers, a few years ago, most clubs may have had one or two lasers. Now, it is not uncommon for clubs to have as many as 25.

Vegas now can say that of the 100 most lucrative nightclubs in the US they have 21 of those. This is according to Nightclub & Bar a respected trade publication. What may surprise some people is that 7 of the clubs that now operate in Vegas are earning over $25 million a year. That is some serious cash.

To get into the action, many casinos are now opening their own clubs in the hopes of competing with outside clubs. To bring in their own customers these casino clubs are planning to go all out in terms of offering customers the “wow” factor that they are looking for.

Some clubs are trying to attract customers by offering such novel ideas as 3D glasses to watch the shows with, bringing in professional lighting directors to set up shows, some will be adding new LED walls to their clubs to bring in even more visual entertainment. The main goal is to provide an all-out thrilling experience that patrons will not soon forget and cause them to return again in the future. Some are even adding cannons that go off in sync with the music that is being played. The cannons shoot out confetti that covers those who are on the dance floor. A few clubs are even buying handheld cannons that they can give to their patrons to shoot off as they wish. Hakkasan at the MGM Grand is one club that is already doing this.

How all of this will play out in terms of taking money away from the gaming tables is yet to be seen. For those casinos that are getting into the club action the loss may not be as severe as will be to those who are not adding their own high-quality clubs.

November 6, 2013

What Exactly Is That Vegas Eye in the Sky Looking At?

Filed under: Casino — Tags: — OCE News @ 2:42 am

Everyone knows that Las Vegas casinos are some of the most videotaped spaces on the Earth. Those tiny cameras are everywhere, and one might think it impossible to get out of their reach. It has been said that Vegas has more camera working than any airport in the US (per square foot). But, are those cameras looking at every square inch of a casino? Some people say no, and they are alarmed at what is not being watched.

In some casinos, it has been reported that cameras are not used to monitor guest room hallways and other areas where people travel as they get from one point to another. This, they say, may make these areas more vulnerable to criminal activity such as robbery and rape.

For their part, casinos say that there is no real need for any added security in these areas. They, did not, make much more comment beyond that other than to say that areas such as elevators, lobbies and gaming floors are always monitored.

Even so, it has been reported by the Associated Press that some 23 of 27 (major) casinos on the Strip do not have surveillance camera located in hallways or on the elevator landings. Of these, all but four are owned and operated by Caesars Entertainment Corp., MGM Resorts International, Las Vegas Sands Corp. Or by Wynn Resorts Ltd.

According to The AP, they report that they came up with these numbers when interviewing casino officials. And they also went to those hotels that did not comment. It was also reported that only Planet Hollywood, Caesars Palace, MGM Grand and the Tropicana Las Vegas have monitors in the halls that are located above the gambling floor.

It is no secret that hotel room burglaries are said to account for the majority of reported hotel and casino crimes. This particular crime is increasing while traditional home burglaries are going down for the city. This comes from numbers supplied by the police. Police officials have said that because there are no cameras in many hotel areas, criminals feel safe doing their dirty business in those areas. Without the cameras, it is also harder to make a case and prosecute those who are caught.

Some of those who are particularly worried about this lapse in security are hotel housekeepers. Many of these employees have stories that involve dangerous or threatening actions taken toward them. Many of these workers do not report altercations as they know there is no way of proving what they say without some type of filmed evidence.

The main excuse for not having this added security boils down to cost. Not only is there a cost of buy and installing the equipment, but there is also the added cost of having the systems monitored. Some experts suggest that lawsuits may also be a reason hotels are no so eager to add cameras to these areas. If something happened to a patron or employee and it was ignored by hotel personnel, lawsuits could follow.

« Newer Posts — Older Posts »

Powered by WordPress