Year Nevada Casinos Can’t Win for Losing for Fifth Straight

It was the year that is fifth for a downturn in Nevada’s net revenues for fiscal 2013, according to the Gaming Control Board

It was bad news and kind of good news for the Silver State’s gambling enterprises when Nevada’s Gaming Control Board circulated their annual Gaming Abstract Report week that is late last. The bad news was that Nevada’s 263 combined casinos experienced a fifth straight year of economic net losses; however the good news is that their actual intake revenues increased a tad contrasted to 2012.

However, a net loss is a net loss, and fiscal 2013 was a little bit even worse than 2012, having a final tally of minus $1.348 billion,compared to $1.212 billion in 2012.

Slow Recovery

It’s all the main child step healing up process from Nevada’s massive turndown from the nation’s recession, which positively hit this area that is casino-centric since 2009. In reality, fiscal 2008 ended up being the final time Nevada’s casinos general showed a net revenue, and that was for $721.1 million. The following year, hawaii took its hit that is biggest, by having a $6.8 billion internet loss for casinos statewide. Ouch.

The Las vegas, nevada Strip naturally sets the pace in regards to Nevada video gaming, and a small 1.7 per cent revenue jump during the final fiscal 12 months just was not sufficient to go out of a profit; overall, Strip casinos marked a $1.5 billion loss for the entire year. But again, some silver lining here; that loss ended up being still 13 percent down from 2012’s $1.7 billion mark.

In every, Nevada’s gaming houses took in a tad over $23 billion in both gaming and nongaming monies for fiscal 2013, that has been up less than one percent from 2012’s $22.976 billion.

Not Merely Gambling Cash

The video gaming report totals not just intake from actual gambling, but from all nongaming sources since well; things like resort rooms, shopping, dining, liquor, activity and sporting activities. A casino must have grossed in excess of $1 million in pure gaming revenues for the fiscal year prior, and that apparently precluded two that were part of the previous year’s report to qualify for inclusion.

The word ‘net loss’ suggests what’s left after gambling enterprises have compensated down winners and other costs, but doesn’t include either federal taxes being taken off the top or ‘extraordinary expenses’ a term that isn’t clearly delineated because far as what it would encompass. However, also included in the revenue and loss are things like monetary restructuring, which several properties took advantage of in 2012 to hit this fiscal year.

Even the state coffers got a hit where profitability was worried last 12 months; with general administrative expenses jumping up by as much as three percent to hit $10.6 billion, there have been no gains margins to post within their annual reports either.

And whenever it came to where the amount of money is coming from, it was video gaming first with a 1.1 percent bump to $10.395 billion making it 45.1 of the take that is overall. Next were hotel rooms which hit $4.788 billion to account for the next 20.8 per cent. And finally, food profits amounted to $3.454 billion, or 15 %, across the board statewide.

For the time that is first 2007, gaming profits overshadowed nongaming income as far as percentage increases for fiscal 2013. The gaming that is small had been compared to 44.8 percent in 2012, according to Gaming Control Board Senior Research Analyst Michael Lawton.

And that was mirrored particularly on the Las vegas, nevada Strip, where gaming revenue went up one percent to 37 percent from 2012’s 36 percent for the time that is first the 2007 plummet.

But Lawton noted that considering 2014 with substantial new attractions that are nongaming as the $100 million complex going up by MGM Resorts between New York New York and the Monte Carlo, as well as Caesars Entertainment’s $550 million Linq extravaganza those dynamics could perhaps flip-flop once more.

Nj-new Jersey’s Atlantic Club Closes Its Doors For Good

This is it: nj’s Atlantic Club has shut its doors once and for all after a colorful run that is 33-year.

A long time ago, the Atlantic Club was the casino that is top-earning most of Atlantic City. Owned in the past by Steve Wynn, commercials featured luminaries like Frank Sinatra, making the Atlantic Club the hip place to be for chi-chi East Coast gamblers.

But times change, and the Atlantic Club slowly found itself left behind by bigger and more modern casinos in the town not to say through the United that is northeastern states finding itself last among all Atlantic City casinos in revenue. At 12:01 am Monday morning, the inevitable finally happened: the Atlantic Club had been turn off for good.

In truth, the casino had all but closed down several hours before this. Drink service ended sometime within the and the bars and restaurants closed hours before the official closing afternoon. That just kept a few loyal gamblers and dealers out on the casino floor as the final seconds regarding the casino’s life were counted down.

‘It had been extremely sad,’ said server Maureen Cohen after finishing her final shift. ‘Can you believe just how pathetic it will be to come over [a nearby] bridge and see a closed casino?’

Workers Left High and Dry

Numerous casino workers expressed their frustration at the not enough help they got from the state or city government. A complete of 1,600 workers destroyed their jobs as a total result associated with the casino and hotel shutting down; many of those were non-union and didn’t even receive a court-ordered $1,500 severance check.

‘Where was our help?’ asked cocktail server Kathy Buonasorte, that has worked at the casino for 28 years. ‘They all left us. No politician helped us. No one arrived to save us.’

Indeed, the casino had been searching for the lifeline for quite awhile before it flattened. Last year, it nearly discovered one within the form of PokerStars, which hoped purchasing the casino in an effort to achieve a foothold in the latest Jersey (and more broadly, the American) gambling market. But that deal went up in flames: after deadlines passed and the casino found out that PokerStars might not be authorized to purchase the casino, the Atlantic Club backed out of the purchase, leaving PokerStars on the hook for $11 million that they had loaned the casino money that had been anticipated to be used towards the agreed-upon $15 million purchase price.

Fire Sale

With no other buyers on the horizon, the Atlantic Club eventually filed for bankruptcy in November. It was jointly purchased by Tropicana Entertainment and Caesars Entertainment for $23.4 million, though neither had any plans to utilize casino itself. Tropicana now owns the casino’s consumer lists as well as the table that is physical and slots which will be hauled out later on this week while Caesars now has the connected casino, though it has no plans on what to immediately use it.

Exposed in 1980, the Atlantic Club was originally referred to as Golden Nugget, and had been then owned by Steve Wynn. In later years, it would become known as the Grand, Bally’s Grand, and the Atlantic City Hilton. Its latest owners paid over $500 million to shop for the home in 2005.

In recent years, the Atlantic Club depended more on casual, low-stakes gamblers. This became a concern as more gambling enterprises had been built in Pennsylvania, New York, and Delaware, leading a lot more of their target clientele to gamble closer to their own homes.

Adult Entertainment Expo Brings the Sin to Sin City

The Annual AVN Adult Entertainment Expo kicks off in Las Vegas this with plenty of risque business week

Las Vegas has built its legacy on not only its casinos, but on the promise overt or otherwise of intercourse, drugs and rock n’ roll. While ironically prostitution is, in fact, illegal in Clark County the county in which Las Vegas sits few people realize this and most assume that sex is anywhere and everywhere. And they’re not entirely wrong, either wink, wink, nudge, nudge.

Yearly AVN Awards Show

So where else would the Adult Video News (AVN) Awards arrive each year but las vegas? It’s the perfect marriage of one industry that is illicit another, and each enhances the other’s reputation, if only by association. And along with it comes the Adult Entertainment Expo (AEE), where you are able to see anything and we do mean any such thing.

This week, head on down to the Hard Rock Hotel and Casino for the 2014 awards show and all its ancillary debauchery; starting January 15, some 300,000 attendees will crowd Las Vegas, either directly participating or hoping to catch a glimpse of their favorite porn star(s), up close and personal if you happen to be in town.

It is four days that center around four events that are key along with an industry trade show that encompasses everything from ‘pleasure’ products to porn producers hawking their wares and doing the shmooze. Think of it as Hollywood with no pretext that is slightest of artistry for those nude scenes.

Super Educational

Or for those that would like a more legit meeting vibe you can also attend seminars, things with subjects such as ‘Porn Goes to College,’ ‘Avoiding the Blues After ‘Fifty Shades of Grey’ Fades’ and ‘The Feminist Porn Mystique’. And don’t forget those stage shows billed only as ‘sexy’ but considering that sexy stage shows go on 24/7/365 in nevada at numerous gentlemen that are so-called clubs around town these ones would have to provide a little more than sexy to hold their particular.

At the smaller but parallel AVN Novelty Expo which runs 1 day short of the Expo, ending on the 17th you can find all manner of racy lingerie, sexual aids, supplements to fire up your loins, and every manner of aphrodisiacs, makeup products, condoms, and ahem accessories for the bold and beaudacious among you.

The company names alone are worth the cost of admission. Names like Digital Sin, Bootiful Butt Enhancement Cream, SweetSpot Labs and the infamous Fleshlight are among more than 50 companies which is attempting to land your business this 12 months. Evidently, sex sells literally.

Finally, there is the ever-popular AVN Fan Fest, where 300+ well-known porn stars will appear from January 16-18 to sign autographs and pose for pictures (we’re uncertain in what state of dress or undress). There’s also something we are frightened to know too much about called ‘The Lair’ -which is referred to as being especially designed for the kinkier attendees, leaving us guessing that whips, chains, and all method of freaky fetish activity will be happening.

Or in the event that you want something a little less potentially painful, how about some Porn Star Karaoke or Porn Star Beer Pong? Surprisingly, turns away almost anything is more pleasurable when you add the term ‘porn’ in front of it.