No Smoking Revel Going Up in Smoke with Bankruptcy
Simply times short of a year as it started to fanfare that is great Atlantic City’s no smoking casino experiment Revel is looking to file for bankruptcy, based on federal securities regulators’ disclosure statements the casino filed early in the day this week. Through the magic of high finance sleight-of-hand, some $1.5 billion in staggering financial obligation will now be converted into $1 billion in equity for the casino’s eager creditors, and a new CEO, Jeffrey Hartman (previously of the Mohegan Sun in Connecticut) will take the reins over of the faltering mare.
Resignations Certainly Are a deal that is good
Hartman gets control of for recently departed Walk of Shamers ex-CEO Kevin deSanctis and Chief Investment Officer Michael Garrity; thankfully, this is not Japan, or there would be intestinal entrails from the penthouse towards the parking lot by now. Nope, this is America, the place where a smartly negotiated contract once you sign up gets that you well-paid ride when you are axed; therefore DeSanctis and Garrity not merely reach stick to with the Revel brand, they can also look ahead to about $7 million in consulting fees for the remainder year. Is that each or together? We’re maybe not yes, but our hat goes off to their solicitors: well-played, counselors, well-played!
Although Atlantic City overall has been in a nosedive that is financial (attributed to everything from Hurricane Sandy to a confusing marketing platform for conventions), some are still pointing fingers at DeSanctis and Garrity for producing the first-ever 100 percent nonsmoking casino in AC. This is not really as wild and crazy a concept as it can take place; poker spaces nationwide have been totally nonsmoking for more when compared to a decade and until online poker’s Black Friday hit and forced many of them to power down, it didn’t appear to also put a tiny dent on business there. Nonetheless, investors had implored non-Chong and non-Cheech to switch back to a more traditional mostly smoking format, but alas, to no avail.
The issue may not actually be smoking vs. nonsmoking anyway; besides the poker space analogy, also smoke-crazy Macau established a partial smoking ban as of January 1st, yet appears to be on track for a record month of revenues for March of in 2010. Much more likely, it is an expression of Atlantic City’s overall freefall, as the city has spiraled 41.5percent in the direction that is wrong 2006, versus Las Vegas’ 7.2% drop, and Sin City has had way more recessionary disasters to deal with than AC.
It Cann’t Add Up
With a limited, enclosed smoking area now founded at the behest of anxious creditors, Revel says it could actually turn a profit next year; but that isn’t taking its debt servicing costs into account. Currently ranked 10th out of 12 on the revenue scale of AC casinos, maybe what Revel really needs is a person who can do math.
Hawaii Just Says No to Gambling Research
You probably wouldn’t be too surprised to learn that gambling of any type or kind is banned in Utah; in the end, the greatly Mormon state appears straight down on sinful activities of any kind. But Hawaii? How did the final state to join the Union get so persnickety when it involves games of chance anyway?
No Quality for Hawaii
Whatever the reason, the governmental powers-that-be don’t even desire to consider adding gambling towards the lures that might draw tourists for their sunny clime. The Hawaii House recently refused to approve an answer that needed the Aloha State to just study the feasible social and benefits that are economic detriments of bringing gambling on board legitimately there. Really? Not even a study? That appears rather closed-minded for an accepted destination where surfing is practically a religion and grass skirts are thought a fashion declaration.
‘ Too Expensive’ to Study
According to Representative Clift Tsuji (D-Hilo_Waiakea-Keaukaha), the issue is economic. No, not the gambling part; the scholarly study part. Other politicians on hawaii’s Economic developing Committee denied the study proposal away from hand, saying it ‘would be very costly.’ Okay, so wait, we’re confused: you’re designated to review what would bring you more benefit that is economic but do not have money to find out just what would or what wouldn’t?? Fine, go have another cocktail or three on the taxpayer, cause we’re nearly sure how you will figure out any such thing if that is the instance.
It’s Just a Lottery
While they might look for a gambling study too pricey, apparently the state Senate had no dilemmas with a recent bill that required a state Internet lottery and gaming entity become founded, with the goal of ultimately appointing one lucky service provider to use an on the web gambling site. (Yes, it’s a little confusing just how you would need a web site operator when you can not even study whether or not you need to have gambling legalized in your backyard.) Hawaii’s House of Representatives additionally introduced a bill along equivalent lines year that is early last but it took off like a grounded Concorde.
Of course, there’s plenty of underground gambling in Hawaii, as witness some raids that are major present months; is it possible that said operations are behind a groundswell to keep it that way, as legalizing casinos would greatly influence their bottom lines? Surely perhaps not; we know no one ever takes bribes, implied or overt, when it comes to stuff like this.
Guess ‘Hawaii, the Gambling State’ defintely won’t be minted for state license plates anytime soon.
Victory for Dan Shak at PartyPoker Premier League
Wall Street mogul Dan Shak has emerged as the victor associated with the PartyPoker Premier League VI at the Aspers Casino near London, using the title after days of action and a tough heads-up round against Sam Trickett to finish up this tournament that is exciting.
As well as the prestigious title, Shak has walked away by having a cool $450,000, leaving the British runner-up with a pleasing $200,000 prize for 2nd spot.
Starting the final table in third position behind chip frontrunner Tobias Reinkemeier and Jonathan Duhamel, Shak demonstrated great poker skills and patience because the hedge investment manager took down the chip leaders and emerged victorious.
Talal Shakerchi was first to leave the last dining table whenever actress Jennifer Tilly sent him packing, picking up a set of aces regarding the flop to beat out his pocket kings. But Tilly’s luck ran short as she had been the next to strike the train, and ended up being removed from the battle by Duhamel. Shakerchi walked away with $45,000 while Tilly took home a prize of $60,000.
Finishing in sixth place and home that is taking70,000, Reinkemeier was additionally eliminated by Duhamel, despite his starting in the pole position. This elimination play thrust Duhamel into the position of chip leader and it began to look as if he could not be beat.
Fifth place went to Daniel Cates, the runner-up of final year’s tournament, after he was eliminated by in 2010’s winner. ‘I’m sorry, man,’ announced Shak as he sent Cates home with $100,000 in his pocket.
Despite his performance that is impressive was Duhamel who completed in fourth place after Trickett left their chip stack dwindling. The Canadian can’t complain an excessive amount of however out and he still pocketed a nice $125,000 as it was the soon-to-be champion Shak that beat him.
Antonio Esfandiari then left the table, additionally at the mercy of Shak, and left Shak and Trickett to duke it out in the final heads-up, albeit with $150,000 in his pocket.
The Final Showdown
Shak went into the heads-up with a lead of 1.7 million to Trickett’s 871,000 chips. However, Trickett hammered away at Shak and really took the lead from the United states.
But alas, it was to not be Trickett’s night, as a flush that is later Shak sitting pretty with virtually every chip up for grabs in their possession. After that, there had been hope that is little the Brit and Shak emerged victorious as the champion associated with PartyPoker Premier League VI.
This winnings brings Shak to an impressive $1.4 million in tournament wins up to now in 2013, and sits him firmly in third position in the Global Poker Index Player for the Year battle. However, this Premier League win will perhaps not count towards the standings.
Bay Area Game Developers Conference Is Serious Company
If you have constantly wished to be someone who designs those cool, high-tech casino slot games you’ve played, you better be booking a flight yesterday to the week’s Game Developers Conference (GDC) in San Francisco; but don’t go up there seeking work unless your resume is dazzling. Major recruiters like Bally’s Technologies aren’t playing around when they appear for talent to create their games for customers.
Looking for ‘World-Class’ Talent
Bally’s is just one single of several companies which is looking for the very best of the greatest at the conference: the up-and-coming developer talent that may create the next generation of exciting high-tech games for them in the uber-competitive video slot and app gaming market that is mobile.
The hard part is being in a position to match the never-ending need for newer, better, and more dazzling, according to Gary Kapral, Bally’s senior v.p. of operations and hr. ‘ The challenges are quality and volume,’ Kapral stated. ‘We can’t get enough from the ads online,’ he included as to why Bally’s is going to the conference, searching for recruits.
Bally’s is just certainly one of a lot of companies looking to fill positions like mobile and interactive content developers, programmers, web designers, graphic artists, digital illustrators, motion-graphic artists, 3D animators and mathematicians. Yes, it will pay to be always a nerd that is creative.
A paycheck pretty close to six figures for the lucky few who end up landing a job at the conference, it could be a nice payday; recent college grads could pull in $50-60K, while those with five years of experience in the digital gaming field might end up bringing home.
Conference is Growing
The now 26-year-old seminar has blossomed from a friendly gathering of developers over a weekend to a week-long event featuring a lot more than 22,500 gaming industry insiders and attendees. It’s become the forum that is primary programmers, artists, manufacturers, game developers, audio pros, and everyone involved into the creation and development of interactive high-tech video gaming to meet, brainstorm and mingle. UBM Tech Game Network produces the annual event.
GDC also features more than 400 lectures, panels, tutorials and discussions that are round-table all things gaming by leading industry experts https://shmoop.pro/1984-by-george-orwell-part-one-summary/. This year’s GDC conference also features the 14th Annual Independent Games Festival, where game designers can display their initial projects to potential writers, and the 12th Annual Game Developers Choice Awards, a sort of Oscars for the electronic games industry via peer recognition.
‘I’d like to thank my mother and dad for permitting me live in their basement, rent-free, for 14 years,’ is probably an awards that are typical message, we’re guessing.