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Archive for February, 2010

Ladbrokes Offering A Great Deal

Monday, February 15th, 2010

The great thing about online gaming is that it’s highly competitive. That means that players can turn to any number of places to find a better deal than the one they are having now. It’s a great time to jump in on the hobby of online gaming. Now that gambling is going through legalization and regulation, legislators are working hard with rules to make them work. Their eyes are on the huge tax-revenue dollars available from gambling. Gaming operators are excited too because they know that it’s a great time to put out their best products and services to attract new customers. They are working hard to make names for themselves by bringing out the most outstanding games and premiere bonuse available online today. It’s a great way to make a name for themselves now that the doors for online gaming are just opening in the US.

For anyone who plays at Ladbrokes, it’s a great time to take advantage of their new special. The virtual casino is offering a 100% match bonus when you play your favourite blackjack games. There are over 51 blackjack tables to choose from and they include multi-hand, single-hand and high-limit on Instant Casino and Download Casino including: European Blackjack Gold Multihand, Double Exposure Blackjack, Atlantic City Blackjack. To qualify for the bonus all you have to do is make a real money deposit of £25 and turnover £25 on blackjack and fill in the claims form; if you qualify, your account to be credited within 48 hours. It’s a great way to earn some extra credits while you hopefully win some money!

Ladbrokes is a top online casino and everyone who is looking for a place to take advantage of some great gaming should look to Ladbrokes. Not only are there a huge number of games to choose from, but the casino has proven itself over time to be one of the premiere websites alive today that offer premiere gaming and outstanding customer service. The company has been along long enough to work out any kinks in gaming it has had too. Check out the website and see for yourself how much fun this online casino can be.

Sega Enters the Market on Online Gaming

Monday, February 15th, 2010

Sega Gaming has purchased a set of branded online casino games from CTXM, a casino game developer from Latvia. The site is already using the Playtech platform and the full suite of online casino games which come as standard with any new licensee to the popular brand.

Everyone remembers Sega– the games, the fun and the competitions. It was a great time with Sega games and now the company is moring into development of new games based on their old, yet popular brands. Some games have already been brought to the online market by Playtech, but now Sega is doing the job themselves! Sega Casino just announced that it will have traditional games in addition to video slots built around their slots. It has been annouced that the company has developed a video slot called, “House of the Dead” that’s based on a video game which was later made into a film. CEO of CTXM Udy Yosha said, “We are very proud to work with the founders of the gaming industry. Being a game developer ourselves, we believe that together with SEGA Games’ unique IP, we will be able to add another dimension to their online games. We feel privileged to cooperate with SEGA Games.”

Now that the US is looking into legalizing and regulating online gaming, many other developers are trying to find their ways into the market. There are millions of dollars to be had and every one of the companies wants a piece of the pie. The move by Sega to enter the market is a wise one. Not only are they entering the market that has no clear monopoly and giving them a chance to win over a strong market share, but they are also capitalizing on games that have already proven themselves.  The Sega brand is widely known and has a good core base of followers who most likely will want to venture into the online form of the game and, at minimum, see what it is about. Sega is in a great position to enter the market and make a name for itself by using its own brands to promote how good a development company it really is.

Jackpot City Pays Out Big for One Player

Monday, February 15th, 2010

Jackpot City Casino just announced that it awarded one player with over €500,000 in a two week period over January and February. The player, who declined to give out their name, averagedmore than €35,000 in winnings per day since his streak in which he played bonus and feature slots exclusively. A statement from Jackpot City read: “He plays for a couple of hours a day and has hit one heck of a streak. I think his best day was a €90,000 payout. Not a bad way to start the New Year.’

The player’s largest single jackpot was €44,000 when he played on the Celtic Crown slot, the player has also won frequently playing the Burning Desire slot. The statement from the casino also read, “All I can tell you is that he’s a player from The Netherlands, he’s been with us for a couple of years and he’s smiling from ear to ear right now. I can tell you he plays for fun, not massive amounts, just a bit of excitement in the evenings at home.” The good news for Jackpot City is that it has been making headlines as of late regarding wins. One player walked away with over €546,000 over a three day period during December, plus more than 30 wins during November amounting to €7,282 by playing slot games.

“Our players choose JackpotCity.com for security, variety of games, quality of entertainment and chances to win big,” read the statement from JackpotCity. “The last few months have certainly illustrated we’re a good choice for that last point. We’re hitting 2010 running and our players are hitting big wins all over the place. I think this is going to be a great year for our players and our casino.”  If the beginning of 2010 is any indication, players at Jackpot City are in for big surprises and wins this year. The casino is already bulking up its gaming roster and building new promotions and advertised specials to ride the wave of these big wins. If you are looking to increase your chances of a win, check out Jackpot City online casino. It’s only February and the casino already has paid out some great wins to a few lucky customers.

Penn National Posts Decrease in Revenue

Monday, February 15th, 2010

Things haven’t been looking good for the gaming industry since the recession first began. High unemployment rates and job eiminations have put consumers in a difficult position. THey have to make ends meet, but have few options. Though for yeras experts warned people to have three to five months-worth of expenses tucked away in cash reserves, few  listened. And those who did saw that reserve quickly dwindle to nothing during the recession. It was a hard time for every consumer and many used their entire nest egg fund and retirement funds to make it through. Even now consumers are not yet spending their hard-earned cash. They are trying to bulk up savings before they return to old ways of spending and handling money.

The recession wasn’t ny easier on the world of business. Businesses everywhere fied bankruptcy, closed down altogether, scaled back or laid people off in an effort to maintain business. Penn National Gaming is a huge company in the world of gambling and even it experienced a loss. Penn National Gaming reported a loss during the fourth quarter of 2009, the result of gamblers continuing to spend less, the company said today. The casino operator said it lost $355.4 million, or $4.54 per share, during the quarter, compared to a loss of $378.6 million, or $4.77 a share, in the same period of 2008.

A statement read by Peter Carlino, CEO of Penn National, said, “Unfortunately, we have limited control over how consumers are continuing to respond to economic pressures and as a result, the gaming industry experienced revenue compression again in the fourth quarter.”Revenue for the quarter fell 2.7 percent from $571.1 million to $555.8 million during the year-over-year period. Gaming revenue declined to $506.3 million in the fourth quarter of 2009 from $521 million in the comparable period of 2008. It is a difficult time for casinos that want to tart growing but can’t due to cnsumer’s lack of spending. Many people believe that once their paycheckscome in, their number one prority first is to pay bills, then pay down debt and then stock up their cash reserves. In that mix there is no where for continuede gambling just yet. Casino operators are creating deep discounts and promotional campaigns to bring in customers, but only time will tell if the programs truly work.

MGM May Sell Macau Division

Monday, February 15th, 2010

The MGM Mirage recently announced that it is in talks to possibly sell its ownership of the Borgata Hotel-casino in Atlantic City. The decision is being made to settle an investigation by New Jersey regulators into the suitability of its partner in Macau. The New Jersey Division of Gaming Enforcement found that Pansy Ho was “unsuitable” because of alleged organized crime ties made by her father, casino mogul, Stanley Ho. The New Jersey organization suggested that the MGM Mirage cut ties with Pansy Ho if it was to continue operating in the state of New Jersey. They could have insisted that the MGM Mirage sell its ownership in the Macau operation. Earlier in the investigation Nevada regulators approved the partnership with MGM Mirage’s affiliation with Pansy Ho.

Las Vegas-based MGM Mirage could argue the New Jersey recommendation by taking the issue to hearings before the New Jersey Casino Control Commission. Rather, it is in discussions to settle its exit from the market. Boyd Gaming Corp. of Las Vegas, MGM Mirage’s partner in Borgata, would be a likely buyer of its partner’s stake but has declined comment on the issue. MGM Mirage released a statement today “it is currently involved in constructive settlement discussions with the DGE (Division of Gaming Enforcement), which have centered on the company placing its 50 percent ownership interest in the Borgata Hotel Casino & Spa and related leased land in Atlantic City into a divestiture trust for which MGM Mirage would be the sole economic beneficiary. While no definitive settlement with the DGE has been reached, the company has asked its lenders to consent to the trust arrangement. Any settlement is subject to both DGE and Casino Control Commission approval.”

The problems are big ones for the Ho family who have long been accused of having some affiliation with crime and corruption in the gambling world. Stanley Ho was the first to be accused of improper activities and now his daughter is seeing the same issues. Though they have venehemently denied any illegal activities or affiliations, they continue to be a staple in the world of gambling and of crime in gaming.

The Reno Company Closing Japan Operation

Monday, February 15th, 2010

International Game Technology announced that it is going to take a hit for $20 million in expenses it will incur for closing its operations in Japan. The Reno company, in a regulatory filing, said it announced to employees on Monday its decision to close the Japan operations “due to ongoing difficult market conditions and changes in the company’s future core business strategy. The closure is part of the company’s ongoing focus on operating efficiencies in all areas of its business.” During the first quarter operations in Japan experienced a net loss of $2.5 million in 2010 and $1.2 million in 2009.

“Total charges related to the closure are still developing and will depend on the culmination of certain asset sales and property lease cancellations. We currently estimate charges, including severance, of up to $20 million in the aggregate, will be recorded in the second and third quarters of fiscal 2010,” the casino industry supplier said. Despite the loss, IGT said it is still looking at new slot machines sales opportunities. There is a voter referendum to be taken in Illinois, Ohio, Kansas, Maryland and Pennsylvania. There are also projects underway in Maryland, Kansas, and Pennsylvania. Gaming expansion is coming into the mix despite problems.

Future gaming expansion is also anticipated in international markets, especially Southeast Asia and Italy. Both areas are hubs for gambling growth and have proven themselves with strong markets over the past few years. For that reason operators are looking for expansion into the markets to gain their own share of the revenues available. The recession was particularly difficult on the gambling market and it is still in the process of regrouping. It’s hard to gauge how long it will take for the market to fully return to pre-recessionary performance. The unemployment rate is still high and though people want to start spending, many are wary due to lack of funds. The credit lending industry closed a lot of doors for consumers also and many had to rely on their savings to get through the recession. Now that things are getting better, people are putting all discretionary funding into bulking up savings once again. It may take some time for them to rebuild their nest eggs before they start gambling again.

 

Casino Numbers Show Small Positive Growth

Monday, February 15th, 2010

Bill Bible, director of the Nevada Resort Association that represents Strip Casinos said, “We have just finished the most difficult year in gaming history and in a period where some data points are positive and some negative.”  There are some increases in slots play in the city. Strip casinos report a gross income of $502.1 million throughout December 2009 which is a gain of 5.8% and the second straight month of increases for the market. Despite the good news for this past month, overall gaming is still down. In fact, it fell by 3.2% for the month. Bible said that he does not believe a quick turnaround is coming any time soon. He added, “The road ahead is a long hard one.” For 2009, statewide gaming revenue fell to $10.3 billion, a 10.4 % decrease from 2008. Frank Streshley, chief of tax and licensing, said “This is the fourth decline this decade, after never declining in a single calendar year.” The board started compiling figures statewide in 1955. But he said that the second half of 2009 was stronger than the first six months.

December gaming win in downtown Las Vegas fell 12.3 %, the 19th straight month of a decline. Gross win was down in North Las Vegas casinos by 25.1 % in December; 11.6 % in Laughlin for the 25th consecutive month; down 19.8 % on the Boulder Strip; lower in Mesquite by 7.5 % for the 11th straight month and off 13 % in the balance of Clark County. The board said the gross win in Baccarat on Strip Casinos reached $155.6 million, up 101.9 % from December 2008. Baccarat on the Strip now accounts for more than half of the win from card games. For the year, Baccarat on Strip casinos rose 26.6 % after a decline in 2008 of 15.9 %. Baccarat statewide accounts for 8-9 % of the total win. Bible said the big increase in Baccarat reflects the weak dollar. It’s a great bargain for foreign gamblers, he said.

Gross win on the Strip slot machines fell 2.9 % in December. But there were increases of 8.3 % in the take in the penny machines; 3.5 % on Megabucks; a 17.9 % gain on the $5 machines and a 2.3 % jump in play on the multi-denominational machines. Bible called slots the “bread and butter” of casinos. It’s been a year now that the Las Vegas area has reported a drop in gaming. The gaming board notes how difficult the recession was on the city. Only time will tell how quickly the market is going to be able to turn itself around.

Station Casinos, Inc Files for Bankruptcy

Monday, February 15th, 2010

The company that owns Green Valley Ranch resort in Henderson filed for bankruptcy protection last week. The company is owned by the Station Casinos Inc. It wasn’t the Green Valley Ranch that filed, but rather a decision made by its parent company. The filing was made by GV Ranch Station Inc. and listed assets of $100 million to $500 million against liabilities of $10 million to $50 million.

Though the casino company is huge, it’s no secret that the gambling industry as a whole has suffered greatly as a result of the recession. People are out of work all over the nation. The average unemployment rate is 10% but in some hardest-hit cities it is as high as 40%. The lack of jobs caused people to cut back on all discretionary spending and that includes gambling and vacations. This is why places like Las Vegas and Atlantic City have seen huge declines in their revenues over the past 18-month period.

As far as the Green Valley Ranch goes, Station Casino’s spokeswoman Lori Nelson said, “The filing of this entity is part of the overall Station Casinos reorganization. Green Valley Ranch Resort, the property itself, is not in bankruptcy. Therefore, there will be no impact to the property, team members, guests and vendors.” Nelson said the company would not be commenting any further on the decision to file for bankruptcy.

The Green Valley Ranch hotel-casino is a joint venture between Station Casinos and affiliates of The Greenspun Corporation. The filing listed three unsecured creditors — all associated with Station — but didn’t say how much they were owed. They are Station Casinos Inc., Vista Holdings LLC and Green Valley Ranch Gaming LLC. Station has disclosed in regulatory filings that in addition to its 50-percent ownership stake in the 496-room resort, it receives as the managing partner a management fee of 2 percent of the property’s revenue and about 5 percent of its earnings before interest, taxes, depreciation and amortization. That’s the same arrangement Station has with The Greenspun Corporation for their Aliante Station joint-venture hotel-casino in North Las Vegas.

The Greenspun holdings also include the Las Vegas Sun and the District at Green Valley Ranch, an open-air shopping center east of the Green Valley Ranch hotel-casino at Interstate 215 and Green Valley Parkway.

 

 

Chinese New Year Making Headlines in Las Vegas

Monday, February 15th, 2010

The Chinese New Year celebration is here now. Las Vegas casino operators are hoping the event brings in millionsof dollars to the market. This year the Chinese New Year coincided with Valentine’s Day and President’s Day weekend. Vegas.com Marketing Director Dan Hippler said, “We’re seeing a really strong Valentine’s Day weekend with volume up 10 to 11 percent (over last year), partially because it’s over the three-day weekend this year and it also includes Chinese New Year.”

For some weeks now casinos in Las Vegas have been preparing for the festivities. They know how big a deal the Chinese New Year traditionally is and want to capitalize on the huge number of patrons who gamble over the weekend. There are a myriad of lanterns, citrus trees and hedges in special configurations to commemorate the festivities. There are also Chinese greetings scrolled in the gardens and on buildings to welcome anyone celebrating the Year of the Tiger. The Chinese New Year celebration time will last throughout February. Greg Shulman, VP of International Marketing for the Bellagio said, “Clearly there is a financial importance to the event. One only needs to look at the Gaming Control Board’s baccarat numbers for the month to see evidence of that.”

Normally during the Super Bowl and Chinese New Year times the clientele changes too. The casual gambler is a year-round visitor but during the February season high-rollers tend to come into the casinos to play high-stakes poker. The holiday traditionally brings in higher-end clientele and the people who attend are there to gamble. Unlike other times of the year when people come to gamble and shop and enjoy shows.

Shulman added, “If you look at us from purely a head point, the ethnic Asian customer base is mainly coming from Southern California, Texas and the East Coast. Our higher-end customers typically come from the Far East, mainly Hong Kong, Mainland China and we get some VIP guests from Taiwan as well.”  The city officials and casino operators know how lucrative the coming weeks can potentially be and they are ready to capitalize on the opportunity.

 

Union Workers Argue with Casino Operators

Monday, February 15th, 2010

There is trouble brewing between unionized dealers and a local contract at Caesar’s Palace. It’s been two years since any progress was made with the labor contract at the casino. The union leader said that dealers were treating the union like “garbage”. Joe Carbon, the gaming director of the Transport Workers Union, said, “These dealers are professional people who take pride in their jobs, but quite frankly, they are treated like a bunch of second-class citizens.” The allegations that are running rampant in the debate are the direct result of contentious labor negotiations in the union setting. Many companies act different towards unions, often times seeing them as the enemy.

There are approximately 20,000 people who are dealers in the Las Vegas valley. Casinos think they need to control dealers with a hard-hand to retain authority and boost productivity, enforce customer service and move dealers to certain different areas. Director of the Institute for the Study of Gambling and Commercial Gaming Bill Eadington said, “Table games’ managers want to put fear in the mind of dealers that if they do something wrong, they will be disciplined. It is a rough justice type of situation.”

Most employers in right-to-work states such as Nevada have complete discretion to fire nonunion workers. But dealers complain that kind of control turns a casino floor into a troublesome area where the slightest mistake could be grounds for discipline. Casino floors aren’t offices, nor are they like restaurants or retail outlets that sell goods and services. They’re recreational places on sensory overload where emotions run high. Dealers invested in their jobs view themselves as casino liaisons — customer service representatives who can soften the blow of a big loss, congratulate a player who has won and provide information about the casino depending on how receptive the player is to conversation. Dealers who have thrived in these high-stress jobs for years say casinos typically don’t fire dealers over a single mistake. If it’s minor enough, dealers get second or third chances to prove their skills. That could change, however, for dealers who complain about other aspects of their jobs to peers or supervisors, they say. They could be looked at as ‘troublesome’ and be disciplined or even let go. It’s a difficult time for union workers as they try to continue negotiations.