Tag: Caesars EntertainmentView All Tags
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As of May 1, the Venetian will be the latest casino to disallow cash from being used to wager at the poker tables. The move comes several weeks after MGM Resorts announced it would be banning cash from the tables at all nine of its Strip poker rooms. The Wynn has since instituted the same policy. Under these new guidelines, players will be required to convert their cash to chips before the money is considered in play.
As we outlined in our previous report, the reason casinos are moving toward cashless tables is so that they can more closely track how much players are buying in for at the tables. The Bank Secrecy Act requires casinos to file a Currency Transaction Report for any player who buys in for more than $10,000 in chips. At table games such as blackjack and roulette, casinos have required that bets be placed with chips rather than cash for many years now. This makes it easy for casino personnel to track how much a player buys in for. At poker, however, the permission of players to bet with cash has made it easy for individuals to slip under the radar and conceivably go over the $10,000 threshold without the casino being aware of it.
A sign in the Venetian poker room (seen below) states that anybody purchasing $2,000 or more in chips will be required to do so themselves at the casino cage rather than using a chip runner. It is likely that players who approach the $10,000 threshold will be asked for identification, including a social security number, if they do not already have one on file.
Vegas Opinions / Caesars Entertainment / Total Rewards / Players Clubs / Comps / Gambling / Gaming / Vegas Observations / → All Tags
Caesars Entertainment, still navigating its way through a bankruptcy years in the making, is gambling with one of the most valuable assets in the casino industry. You probably know that we don’t mean the year old, $550 million dollar Ferris wheel. You might have guessed we’re talking about one of the mega resorts that line The Strip, but that’s not it. It’s the Total Rewards loyalty program, valued at more than a billion dollars, that is where all the action is.
Events / Earth Hour / The Strip / Off Strip / MGM Resorts / Station Casinos / Caesars Entertainment / → All Tags
Las Vegas will dim its lights on Saturday for the second time this year.
After going dark for Tark in February to mark the passing of iconic UNLV basketball coach Jerry Tarkanian, resorts and business both on and off the Strip will turn off the lights this weekend as part of a now annual Earth Hour tradition.
Once approved for the credit card, cardholders can typically enjoy perks such as:
○Automatic upgrade to Total Rewards Platinum tier status
○5X Rewards Credits for every $1 spent at Total Rewards destinations including hotel stays, gaming, dining, concert tickets and more
○2X earning on air travel, restaurants and gas
○Six-month free trial of CLEAR, which expedites security for approved travelers at Las Vegas and nine other CLEAR-enabled airports
This is going to be a transformative year for Caesars Entertainment, for better or worse. The company has already filed for bankruptcy and CEO Gary Loveman has announced plans to step down. New leadership will definitely have new ideas on how to turn things around, but some changes are already occurring.
Much of the bankruptcy reorganization will take place in the background. We'll never see much of the financial restructuring and that's okay. The things that will affect Caesars customers will be inside of their properties. The first two bits of news about the new Caesars Entertainment center around Total Rewards, their massive players club and marketing list.
Just weeks after filing for bankruptcy, another big announcement from Caesars Entertainment. The company's long-time CEO Gary Loveman will be stepping down in June. But, not stepping away.
The Las Vegas Review Journal reports Loveman will transition into a role as the company's chairman beginning July 1. His replacement has already been knighted. Mark Frissora, the former head of Hertz rental cars, will take over. Loveman has been with the gaming giant, in varying capacities, for some 27 years now. (Right click the hyperlink to trace his many roles.)
Vegas Observations / Flamingo / Imperial Palace / Caesars Entertainment / The Strip / Vegas Rumors / Housekeeping / → All Tags
Until its recent transformation into The LINQ Hotel, the hotel-casino formerly known as Imperial Palace served an important role in Vegas. Sure, it was the smoky dump of a casino that people scoped out just for laughs. And yes, the rooms were so cheap and hilariously awful that they afforded broke college kids on spring break the opportunity to stay center Strip. But, we’re talking about its most important role: making the rest of The Strip look good.
For years, you could stay anywhere else on Las Vegas Boulevard, pay any price, even get the worst of rooms right next to the noisy ice machine with a view of an AC unit and still say “well, at least it’s not Imperial Palace.” And, you would be absolutely correct in doing so.
The company is seeking help with some $20 billion in debt, but executives want you to know you don't have to seek out a new gaming home. Friday, Total Rewards members received an email from Caesars pledging that its players club will continue as is. And, that if you dropped in soon(ish) and threw some money around, they'd make it worth your while:
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After months of negotiations and even longer of speculation, Caesars Entertainment has finally filed for Chapter 11 bankruptcy. Paperwork placing its operating unit, Caesars Entertainment Operating Co., into bankruptcy was filed in Chicago.
The casino giant is billions upon billions in debt, but while some creditors are on board with the bankruptcy, others are fighting against it. Bloomberg reports that "lower-ranking creditors.. say the restructuring accord Caesars worked out with a select noteholder group unfairly protects the company's interest at their expense." Caesars listed about $20 billion in liabilities and is looking to halve that.
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Vegas Rumors / The Cosmopolitan / Hilton / CONRAD / Palms / The Palms / Caesars Entertainment / Caesars Palace / Flamingo / SkyVue Las Vegas / → All Tags
The VegasChatter inbox has been on fire of late with lots of rumors, both on Strip and off. We decided to round them up and dispel or confirm what we could. Here's what's being buzzed about around town:
Subject: The Cosmo
Rumor: With the sale of The Cosmopolitan to Blackstone, its official alignment with Hilton is just a matter of time. (Blackstone already counted Hilton within its portfolio.) The question has been how it will be affiliated with Hilton. Now, a VegasChatter tipster thinks it might be placed in the CONRAD category after noticing a Las Vegas location listed for the brand, which touts "smart luxury," on an internal (read: employee only) site.
Truth: The validity of this rumor is yet to be seen. The public website for CONRAD does not make mention of a Las Vegas location. You can review Hilton's brand hierarchy here and make your own guess as to where Cosmo might fall.
Vegas News / Gaming / SLS Las Vegas / The Cosmopolitan / Westgate Las Vegas / Caesars Entertainment / → All Tags
Believe it or not 2014 was a big year for casinos in Las Vegas. The big year wasn’t caused by the pomp and circumstance of a big casino opening. There was one casino opening but the makeover of Sahara to SLS Las Vegas was much more subdued than when a building is built and people can walk into it for the first time ever.
It feels like just yesterday SLS Las Vegas opened its doors. Our first impressions were positive and they remain that way despite the chaos that's followed. Shortly after opening in August, SLS cut back the hours of its buffet and Foxtail nightclub. Then, staff cutbacks took place, the buffet closed completely, and President and Cheif Operating Officer, Rob Oseland, abruptly left and was replaced with Scott Kreeger.