Even in an uncertain economy, Las Vegas continues to grow. In the month of June, statewide gambling revenue jumped 16 percent. This was the second straight month of increases of 10 percent or more, and the largest since February 2010. Most of the revenue came from high-spending baccarat players, so it sounds like more people need to head to our gambling section and check out How to Play Baccarat. Slot machines and table games also saw a significant increase, pointing to a recovery of the Vegas area as a whole. We’re happy to see that Vegas is doing well, and if you want to head out there and get going with the gambling, we have a deal for you at the Bellagio.
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Caesars Shines in Vegas
Caesars Entertainment Corp., with more than 50 properties in six countries, has narrowed its debt thanks in large part to its 10 Strip-area casinos. With casinos in other parts of the country temporarily closing down due to weather or simply not making money, Vegas-area casinos have shined. Even with customers actually visiting less, they are spending more money when they do, in large part to increased room fees and good demand. As we reported earlier, Project Linq is set to go, as well as completion on 662 unfinished hotel rooms in the Octavius Tower at Caesars Palace. Caesars also owns the World Series of Poker, which had record-setting attendance and a record prize pool of $190 million in June and July. Things are looking up for Caesars due in large part to Vegas. If you’d like to check out Caesars Hotels, we’ve got the link for you HERE.
Caesars Palace in Vegas to Open Famed New York Steakhouse
One of the longest-running restaurants in America will have a new home on the Strip in Vegas, as by the end of 2011, Caesars will house Old Homestead steakhouse. The restaurant has been around since 1968. This version will seat 250 people and is 16,000 square feet. It will be designed to feature items reflecting the East Coast history of Old Homestead. It will replace Nero’s, which was located near the Colosseum theater. They are famous for being too much to eat in one sitting and promoting the four food groups–beef, beef, beef, and beef–while challenging patrons with items such as a 32-ounce ribeye. Old Homestead does have some prior experience feeding gamblers, as the Atlantic City location proves. For a place to stay while you pig out, check out our great deal on hotels. While you’re waiting for December and the grand opening, be sure to look at Caesars’ page on our site too.
Riviera in Vegas Brings Back Bingo
After a four-year absence from the Vegas gaming scene, the Riviera is bringing bingo back to the fold. After exiting Chapter 11 on April 1, the new Riviera is under new management and launching a complete revamp of many areas, including the bingo room. This isn’t your traditional chips and white cards setup, however, as the Riviera is targeting all audiences, particularly the males age 20-40 demographic. Now, the bingo machines are electronic, with players having the choice of using fixed monitors or hand-held devices. Gone are the days of only the older crowd playing–the Riviera says bingo is for everyone. Better yet, the big games will move to a bigger area and the bingo room is projected to break even at the least.
Other hotels are following suit.The Plaza will also reopen on August 24 with a $150,000 bingo tournament as well, and a waiting list that has grown to 160. If you’re looking for Vegas gaming at its finest, look into information on the Riviera, as well as checking out Plaza info.
Caesars Ready to Start $500 Million Strip Project
In the face of the recession, Caesars is doubling down. Construction will begin this month on a $500 million mid-Strip project called Linq that will include a restaurant-entertainment district (326,000 square feet) linking the Imperial Palace and Flamingo resorts, a “re-skinning” of Imperial Palace and O’Sheas, and a 550-foot “observation wheel” that is like a Ferris wheel, but houses 30 people per pod. This will also create 1,500 permanent new jobs and employ about 3,000 construction workers. We wish Caesars the best on this 18-month project. We have found some great deals on Caesars hotels, with rates as low as $99 a night. Don’t forget to check out our page on Caesars as well!
Tropicana in Vegas offers $200 Freeplay Reimbursement
Gambling in Las Vegas is a tradition dating many years back, as is losing money from doing so (for most people). This time, however, the Tropicana in Las Vegas is offering a special deal that really works against the whole “I lost all my money at the slots” thing–if you stand in line to get a free Tropicana player’s card, there’s a +EV promotion where you can play $200 in slots or video poker, and if you lose, you get an immediate $100 back in freeplay, with $100 more in freeplay if you come back 30 days or later. It’s like breaking even, if you have the discipline and time to come back. You must walk to the player’s club and insert your card immediately into the kiosk after you lose. There’s no marker to keep track of your remaining $100, so be sure to keep track of your pulls or hands. We love deals at Vegas, and if you’re a AAA member, you can head to the Tropicana and get deals on rooms with the following link: AAA Discount, Get 15% Off as well as reading up on your plan for dominating the slots on the Tropicana page. Enjoy!
Vegas Venetian Hotel Sues Tea Party Nation of Tennesee for $642,000
If we got a hotel bill in the sum of $642,144, we’d be a little concerned, regardless of how swanky the hotel we stayed at was. In this instance, however, the Venetian hotel owner Las Vegas Sands says the Tea Party Nation of Tennesee reserved 1,637 room nights in the hotel for the period of July 14-18, then postponed and later cancelled their event, which is where the bulk of the fee comes from. The Tea Party Nation of Tennesee cited a lack of people willing to pay for the $399 weekend pass ($125 per day). The bill also includes an 18% interest charge of $87,996. The Venetian includes a great variety of amenities and perks, and should you choose to stay there (and not cancel), we’ve got all the information for you HERE.
The Palms in Vegas Sold
It’s official–The Palms Casino and Resort in Las Vegas is no longer owned by the Maloofs, as of last month. Now, they own just two percent of the property, with the possibility of gaining back up to 20 percent in the future. TPG Capital and Leonard Green & Partners assume ownership at 49 percent apiece. The Maloofs spent half a billion dollars building the casino from scratch, and were $380 million in debt for the Palms, with a $69 million line of credit with the city of Sacramento for their operations of the NBA’s Sacramento Kings.
TPG Capital is the parent company of Caesar’s Entertainment, where you can get rates low as $99 a night, so it is likely that the Palms will be converted to Caesar’s Total Rewards program within the next year (use your comps up now before re-branding begins!). We wish the Maloofs and the Palms the best of luck.
Ronn Lucas moves to the Luxor
If you were wondering where Ronn Lucas went, his new residence is the Luxor. For information, CLICK HERE.