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September 19, 2011

MGM’s New Macau Casino Deal

Filed under: Casino — Tags: , , — OCE News @ 12:00 am

The MGM Grand, Macau, is one of the many casinos and resorts that come under MGM Resorts International. The hotel cum resort opened its doors in Macau in 2007. The Grand stands as a 35-story structure with 600 rooms. The casino houses more than 1000 slot machines and as many as 427 gaming tables. Like all its casinos, the golden lion stands in front of the casino welcoming the guests to the MGM experience. The resort was opened in Macau as a joint venture with Chinese casino magnate Stanley Ho’s daughter Pansy. The joint venture started as a 50–50 deal.

In 2011 the 50–50 venture changed. MGM Resorts International was finally getting controlling interest in the Macau venture. This is on account of a new deal with Pansy. The new deal would give MGM 51 percentage, which is controlling interest in the casino. Pansy would get 29 percent and the remaining would be offered as public offering. The proceedings from the public offering would go to Ho’s ventures. Miss Ho would also receive $300 million worth of MGM’s senior convertible notes. Controlling interest in a casino in the gambling capital of the world is the target. This they have been able to achieve with this new deal with Pansy Ho. With the deal, MGM also aims to lead in the Macau gambling industry where other casino giants like Wynn and Las Vegas Sands are already leading the show.

The IPO is worth $1.5 billion. The fact that MGM is passing on that fortune to Pansy Ho comes as a surprise to many economists and financial experts. Though MGM would not gain from the IPO, the leaders of MGM state that the deal would only bring it benefit in the long run. In Macau casino revenues are skyrocketing every year. In the year 2010 alone, there was a rise in total gambling revenues that were somewhere near 45 percent. Therefore, the move by MGM to make a sacrifice in light of the bigger gains that await it is justified. There are also criticisms regarding Pansy’s decision to give up controlling interest in the venture. Some even criticize MGM of taking undue advantage of the lack of business expertise of Pansy. The company still claims that no such intent was there and the deal was struck after many days of negotiations with Pansy and her managers.

MGM further aims to strengthen its foothold in Macau by gaining land rights in Macau’s Cotai area. Here they plan to build a new casino. Other casinos like Galaxy and Wynn are set to open shop there. The Cotai area of Macau is the presently booming center where most gambling kings are looking on with interest.

MGM Resorts International is now more focused on its Macau operations. Las Vegas is diminishing in its capacity as a gambling destination. Macau has now emerged as the leader when it comes to gambling. More tourists and gamers prefer the grander settings of the Macau casinos to that of Las Vegas. As such, MGM’s strategy to build up the business in Macau is justified.

August 5, 2011

Cutbacks On Casino Floor Supervisors

Filed under: Casino — Tags: , — OCE News @ 12:00 am

Floor supervisors have long been used to prevent criminal activity. However, today, there are less of them to be seen on the gaming floor than in previous years. This is because, as with other businesses, casinos are trying to cut costs by getting rid of excess labor and either replacing this workforce with technological alternatives or giving some of the responsibilities to other employees.

Downsizing

Experts in security issues, along with casino employees, have warned that downsizing the staff will mean a possible increase in the theft of chips and cash. In addition, the possible temptation to steal is currently very high compared to at other times.

Where once a supervisor would be expected to keep an eye on one to four tables, nowadays a shift consists of watching six to 10 tables. In many casinos, pit bosses, who used to overlook the supervisors, have already been dismissed and their roles taken over by either machines or other employees.

An industry consultant and Professor of UNLV gaming management at UNLY, Jeff Voyles, explained that less concern is being placed on security due to the expense of payrolls.

“When I first got into this business, I thought it was amazing to have a manager every 10 feet,” he said. “Nobody has that. But they could afford that at the time.”

Financial Gains

After the state dumbed down legislation concerning the number of supervisors required to watch a game, Atlantic City casinos quickly downsized their staff. This was deemed particularly necessary because the casino industry within this region had been struggling. They say that they have managed to save tens of millions of dollars due to this move.

Video surveillance has also changed the supervisor role in some casinos. Some have evolved into customer service workers which has seen their pay rise from $60,000 up to $80,000. In addition, they no longer have to keep track of what is occurring at the table due to computers and loyalty cards.

Figures So Far

According to the Gaming Control Board, after an increase in casino employee theft in 2009, arrests decreased in 2010. Although arrests cannot be seen as a reflection of the amount of theft, it is thought that since less supervisors have been around, there has not been an increase in theft.

Jerry Markling, enforcement chief of the Control Board, backs up this argument stating that large casinos will usually get the Control Board involved if an individual is found to be stealing or cheating.

Concerns

However, a previous Nevada regulator and current casino security consultant, Bill Zender, feels differently about the situation and thinks that this is not a wise move by casinos.

“A floor supervisor can’t reasonably watch more than six games,” he explained. “So they’re not going to catch mistakes. And surveillance only has a handful of people (watching security cameras) so they’re not going to catch them either. I think (the casinos) are going overboard trying to save a few dollars and I think they’re missing the point.”

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 1, 2011

New Microgaming Slots Launched By Royal Vegas Casinos

Filed under: Casino — Tags: , , — OCE News @ 5:11 pm

The Royal Vegas online casinos have recently come out with new slots powered by Microgaming software. You can now try out the three slot games on their online sites and can be assured of winning some great prizes and giveaways. The already popular Sterling Silver video has led to the Sterling Silver 3D slot games equipped with three-dimensional features making them even more exciting and thrilling. The appeal is visually more realistic making them appear more believable to the online gamblers. The Riviera Riches is the second of the newly launched slot games which has roulette as bonus features. The third happens to be Reel Play Poker: Jacks or Better that is a combination of slots and video poker. 

Online Gambling Gets Legal Approval at Rhode Island 

Online gambling is about to get legalized in Rhode Island which is the smallest of the US states. The general gambling bill underwent certain modifications and is likely to be placed for voting shortly. The owners of Twin Rivers, which is a Lincoln-based land casino, want to offer online gambling services to create new revenue paths and the entire proposal has been forwarded for a vote. There are many who are quite keen to see what is going to happen when the Congress lifts the existing limitations on online gambling operations. 

Official Launch of CasinoMastersGuide.Com 

CasinoMastersGuide.com was recently launched to provide authentic and reliable information about online casinos all over the globe. This website has content that can help you learn how to use online casinos correctly and guarantee maximum thrill to the players. Those playing casino games can now try their luck in many different types of casino games like poker, blackjack, roulette, video poker, and slots, but this may get confusing for a player. Therefore, to help out players, there are casino guides who contain useful reviews, news, and tip to enable players to avoid playing and wasting their time and money on fake casino websites. Online casinos are typically virtual casinos. To play here, players must have very high speed internet connectivity. Players must enter Random Number Generator which is the software that produces the results of every game a player plays in an online casino. This helps the players continue their game from the point where they left it. This software also helps update the player’s account in the bank. 

The online casino guide will help you to distinguish between diverse types of casinos online. There are sites where players need to download the software for free in order to play, whereas there are other sites which do not require software for playing. The former assures better graphics quality and great audio output with clear and explicit instructions about how to play the games and the rules that need to be followed. The latter needs internet plug-ins like Flash and Java to operate. Those with slow internet connectivity prefer playing in these online casinos. Software does not have to be installed by the online gaming enthusiasts because they can even locate those online casinos that provide both sets of options. The players are free to choose whatever they want without having to compromise on the game’s quality.

April 6, 2011

Oklahoma Tribe Sued By Gaughan Gaming

Filed under: Casino — Tags: , — OCE News @ 12:00 am

Gaughan Gaming, a gaming management business based in Las Vegas, is suing the Tonkawa Tribe, which is located in the state of Oklahoma. The lawsuit was filed in Kay County District Court. On Tuesday, Gaughan Gaming accused the tribal officials of going against the set agreements when control was taken over of two tribal casinos based in the northern region of Oklahoma. Individuals employed by the firm were evicted from the premises and banned from re-entering.

The aim of the lawsuit is to stop the Tonkawa Tribe’s gaming commission from now suspending the license held by Gaughan Gaming. Then, for Gaughan Gaming to regain control of these casinos. There’s also to be a hearing on bringing in a restraining order.

The Reasons

Gary Pitchlynn of Norman, one of the tribe’s attorneys, explained that the reason why this action was taken is due to the fact that Gaughan Gaming breached the contract first. On September 28th 2010, when the incident took place, the company suspended the gaming license put in place for Tonkawa casinos.

Apparently, the situation got heated last year between the tribe and Gaughan Gaming.

This was over past disputes which had been resolved. Any which had not been were considered as arbitrary through the contract. Therefore, in August, Gaughan Gaming stated in August that arbitration would be sought to bring resolution over these management disputes. However, these were then cited by the tribal gaming commission when suspension of Gaughan Gaming’s license was agreed open through a vote.

Gaughan’s Involvement

The tribe has had a rather unruly past concerning gambling. The Financial Crimes Enforcement Network fined it $1 million after it was discovered that certain transactions concerning the Tonkawa Bingo and Casino had not been reported. There was also evidence that the casino had been utilized for organized crime and money laundering.

Gaughan Gaming got involved with the Tonkawa Indian tribe in February 2006. Before this, the National Indian Gaming Commission had shut down any gambling operations.

This was partly due to the fact that there was no approved management contract in place. In their petition, Gaughan Gambling claims that they helped such operations to be brought back into the tribe. Since 2007, the company has managed the City Lights Casino based in Newkirk and the Tonkawa Indian Casino located in Tonkawa.

The company’s contracts with the tribe are to expire within the next few years, with the Tonkawa Indian Casino in July and Native Lights in September 2011. Gaughan Gaming has apparently brought in a lot of revenue: Native Lights was opened in 2006 and since then the casinos have managed to bring in over $52 million. As part of the agreement, Gaughan Gaming is entitled to 30 percent of the profit. The company has played a major role in the managing of the casinos, including marketing, advertising, and game playing. Therefore, in their petition, they argue that they’ve had a vital role in the profits the tribe has made.

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