For the month of November, statistics from the Illinois Gaming Board show the nine casinos brought in 9.7 percent less revenue than in October, with 10.2 percent fewer gamblers showing up at the casinos.
Compared to November 2009, revenue is down 6.3 percent, while gamblers are off 9.2 percent.
The figures reflect a trend that began three years ago, according to Tom Swoik of the Illinois Casino Gaming Association.
The state and municipalities hosting the riverboat casinos get a cut of the adjusted gross receipts. The state's share through November stands at $343.2 million - down 6.7 percent from last year's tally of $367.7 million. The local share through November stands at $76.4 million -- down 3.9 percent from last year's tally of $79.5 million.
The gaming expansion under Senate Bill 737 calls for five new casinos -- one in Chicago, one near Waukegan, one in the south suburbs, Danville and Rockford - as well as installing video gaming at six horse-racing tracks and expanding the number of gaming positions at the current nine operating casinos.
It's not the greatest time to expand gaming, according to Swoik, whose organization is against the legislation.
"Until the economy recovers, it doesn't make much sense to expand," Swoik.
State Sen. Terry Link, D-Waukegan, who authored SB 737, said it makes perfect sense to expand now.
"Everyone is looking for the economy to turn around. Look at Las Vegas. They built new casinos there despite the bad economy," Link said. "I think those folks know a lot more about gaming than anyone here in Illinois."
It will be January before lawmakers vote on the legislation, and Link pointed out that it will be July before new casinos could consider building.
Link's problem, however, may not be sagging casino attendance or the bad economy. He first has to shepherd his legislation through the Legislature. Link said he is confident there is support among state representatives. Gov. Pat Quinn may be a different story.
Quinn has not said what he would do with Link's legislation if it reaches his desk. Instead the governor has only said he does not favor a "top heavy" gaming package.
So it seems that the High School Musical is over after reports surfaced yesterday that Efron and Hudgens longstanding relationship had come to an end after the relationship ‘had run its course.’ Reports state that the two are still good friends and that there are no ill feelings toward each other.
So that takes us to Vanessa’s big birthday bash which is planned for Saturday at Pure inside Caesar’s Palace Hotel in Las Vegas which includes 40,000 square feet of glamorous Vegas goodness. According to the Caesar’s Palace Hotel website, the club is divided into four different sections; each including their own DJ, which means that Vanessa could go the whole night without seeing Zac Efron just in case he should show up.
Happy Birthday to Vanessa and hope she enjoys her newfound singlehood.
Economists predict a better year in 2011. But a better economy doesn't quite mean we'll see what we had three years ago.
Still, it's a welcome – yet slow – start on a topic that has not seen good news in quite a while.
"I would say that the Southern Nevada economy is at the beginning of a recovery," confirms Dr. Stephen Brown, UNLV Center for Business and Economic Research.
However, this recovery won't be seen overnight, or even in a short amount of time. Economists say once the rest of the country's economy starts churning, only then will Las Vegas reap the benefits.
One reason for the slow growth is that Vegas had the biggest housing boom and bust in the country. The other?
"The gaming industry has been a little slow to come back because this is a downturn where people's disposable income felt hurt."
But the economy is expected to pick up toward the end of next year, and small businesses will also join in.
"Small businesses in Southern Nevada are very dependent on the rest of the economy moving in order to see their market shares grow."
Until then, economists say we should learn that a construction boom cannot be sustained, nor can it solely contain, an economy.
Marco Villarreal: So if we see that again, we should be a little more careful?
"If you see that again, run!"
Economic growth is reportedly coming at a slow, steady pace. To speed it up, economists say an industry will have to outshine others and help draw people to Las Vegas.
After five years of construction and planning, the 2,995 room hotel will be opening its doors tonight with an invitation-only event starting at 8 p.m. The evening will include a performance from Vegas native and The Killers lead singer, Brandon Flowers, who will grace the stage at around 10 p.m.
According to the Las Vegas Sun, Chief Executive John Unwin shared how the hotel located between the Bellagio and the City Center is “polished without pretense,” a resort geared toward the “curious class” – a group of travelers who are creative, enjoy foreign foods, the arts and new experiences.
The hotel is focused on giving customers a touch of art and design that hasn’t been achieved on the Strip before. The design was due to architect David Rockwell and digital artist T.J. Wilcox, who is responsible for all the digital art displays throughout the hotel.
The hotel boasts 2,995 rooms, 12 restaurants, a 100,000 foot casino floor and the Chandelier Bar which seems to be the highlight of the floor with a bar and lounge created from over 2 million crystals which sounds like a sight to be seen. The hotel also offers a spa, a nightclub and exclusive shopping for anyone looking to buy high-end goods.
It’s understated luxury which isn’t necessarily scream out “Las Vegas” but that’s the whole point of the Cosmpolitan, they are looking to redefine “luxury” minus the gaudiness that attracts so many to Vegas.
For those who will be in Vegas for the New Year, they will be hosting a party including Jay-Z and Coldplay, something for everyone I suppose.
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Penn National Gaming Inc., which operates 23 gambling facilities around the country, is proposing a second casino in the New Orleans suburb of Harvey, called Hollywood Casino, with a first phase costing $145 million.
St. Gabriel Downs LLC, owned by Louisiana businessman William E. Trotter II, is seeking to build a Hard Rock Hotel & Casino in Lake Charles, with a $167 million first phase.
The largest proposal is by Creative Casinos LLC, owned by former Pinnacle Entertainment Inc. chairman Daniel R. Lee, targeting the Lake Charles market with a proposed $400 million project called Mojito Pointe.
Gambling board members asked questions about financing proposals, legal issues and the proposals' impact on existing casinos as they heard lengthy presentations from each applicant. A decision isn't expected for several months, and after the board awards a license, voters in a local election would have to approve the addition of a casino.
"This is the introduction to your projects. The board will have a lot of interesting reading, and we look forward to having you back again before the board before we make any decisions," said Dane Morgan, chairman of the gaming board.
Penn National Gaming, which owns the Hollywood Casino in Baton Rouge, offered to fund a $75 million escrow account to show its commitment to the casino plans.
"We can assure you this project is financed from the very first. We can write a check and we will," said Peter Carlino, chairman and CEO of the company.
The competing applicants of Creative Casinos raised questions about whether it could finance its larger proposal in the current credit climate.
But Lee said, "We think we can grow the market. We think we can stimulate people's imaginations. We think we can bring people in from other states."
St. Gabriel Downs representatives pitched their concept as an established brand that could attract younger gamblers and live entertainment.
The Louisiana Gaming Control Board put the license up for applicants after it was returned to the state in April by Pinnacle. Pinnacle had planned to use the license for its second casino-resort complex in Lake Charles but canceled the plan.
State law limits the number of riverboat casinos to 15. Thirteen riverboat casinos currently operate in Louisiana: five in Shreveport-Bossier City, three in Lake Charles, two in the New Orleans area, two in Baton Rouge and one near Morgan City. Pinnacle is developing a 14th casino in Baton Rouge.
The 13 riverboat casinos, Harrah's downtown casino in New Orleans and the four race track casinos won $180.6 million last month, state police reported Thursday. That's up slightly from the $179 million collected in November a year ago.
The riverboats won $124.3 million, Harrah's won $27.8 million and the track casinos collected $28.5 million.
After taking double-digit drops in year-to-year revenue figures during 2009, the casino business has experienced at least a slight rebound recently in Louisiana. Competition has stiffened from Indian nation casinos in Oklahoma, which affect Shreveport-Bossier City's six outlets, and the overall slow economy is blamed by the industry for keeping players away nationwide.
Still, three companies have applied for Louisiana's 15th and final riverboat gambling license allowed by law and Pinnacle Entertainment Inc. is developing a $357 million riverboat casino-hotel project in Baton Rouge. Two of the proposals would place the casino in Lake Charles, while the third would bring it to the New Orleans suburb of Harvey.
Mixed signals are coming from other casino states. In October, Nevada posted casinos an 11 percent increase over the same month a year ago. In Mississippi, October casino revenue dropped just a tad. New Jersey, which is facing intense competition from Pennsylvania, saw Atlantic City casino revenue in November drop 12.5 percent.
Recently, American Gaming Association head Frank Fahrenkopf said gambling revenue in state-licensed casinos rose 1.3 percent — or to just over $8 billion — from the second quarter to the third quarter of 2010. But that's still about $100 million less than casinos took in during the same period last year. Fahrenkopf blamed that on reduced discretionary spending by consumers.
Among the state's casino markets:
— The Shreveport-Bossier City market, which caters to Texas gamblers with five riverboats and the Louisiana Downs track casino, took in $55.2 million in November, down from $57 million in November 2009.
— The other Texas-oriented market, Lake Charles, saw three riverboats and the Delta Downs race track win $48.8 million last month, up from the year-ago figure of $46.6 million.
— In the New Orleans market, the land casino, two suburban riverboats and the Fair Grounds track casino won $51.7 million last month, up from $50.5 million in November 2009.
— The two riverboats in the Baton Rouge market won $14.5 million last month, dropping slightly from $14.6 million in November 2009.
— The lone riverboat near Morgan City won $3.7 million from gamblers last month, an increase from $3.3 million in November 2009.
— The Evangeline Downs track casino at Opelousas won $6.7 million in November, a drop from the year-ago figure of $7 million.
In October, Louisiana casinos won $196.7 million, up slightly from $193.3 million in October 2009.
The figures do not include the three Indian reservation casinos in Louisiana, which are not required to report their winnings to the public.
This year, New Year’s Eve celebrations are hot and heavy with star-infused events lining the Strip including P. Diddy’s mega party at LAX in the Luxor, Rihanna at Pure in Caesar's Palace, Kim Kardashian at Tao in the Venetian, Jay-Z and Coldplay at The Cosmopolitan and Nelly at the MGM City Center.
Apart from the nightclub scene, revelers can take part in the traditional street events taking place on Freemont Street. According to the Las Vegas Sun, there will be a massive fireworks display including over 50,000 fireworks being used for a spectacular 8-minute show. The fireworks will be provided by Grucci who are responsible for the world’s most breathtaking displays of light and will be also be using their talents during the Dubai New Year’s Eve Celebration. Apart from the fireworks, there will be concerts including the TributePalooza, which is an ode to tribute bands.
This year, they are expecting over 300,000 visitors from all over to world to join in the Vegas festivities. Will you be one of them? Right about now it sounds like the perfect escape!
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It will have more than 700 slot machines, quick-serve eatery, and electronic table games. Some religious groups and Mississippi political leaders have opposed the development of another casino in Mississippi.
The celebration is expected to culminate with a pool-side concert with Brandon Flowers, the frontman for rock band The Killers.
The $3.9 billion resort is opening at a time when Nevada is attempting to rebound from a battered economy dependent on tourism. More visitors have come so far this year than in 2009 or 2008, but more casinos on the Strip have made competition much tougher.
Operation Payback has caused a lot of havoc amongst online merchants such as MasterCard and Visa thus making the world more focused on the big WikiLeaks story.
Online Gambling sites, Sport bet sites and online casinos who use PayPal methods have also reported some kind of interruption with transaction in credit card use.
This disruption Operation Payback has caused is a big concern to the casino business online as this time of year is the time were not only online casinos offering their best offers but also a time where players love to play casino games online and maybe even win real money towards the big expenses they have during this season. Hopefully, all this mess caused to online merchants and the online casino field will blow over before any more important upcoming events.
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Jamie had been busy at work on a new film, “Horrible Bosses” who according to the Daily Mail also stars Jennifer Aniston, Kevin Spacey, Colin Farrell and Jason Bateman and is due for release in July of next year. His party at the Playboy Club was a good time to unwind from his busy filming schedule as well as his new album, Best Night of My Life, which is due out in a few weeks and features guest stars such as Justin Timberlake and T.I.
Before Jamie’s Vegas celebration, Foxx stopped by The Ellen DeGeneres Show where according to Idolator, he took a few minutes to compare astrological signs and talk about his evening birthday plans. He revealed “I want to get arrested” and then performed his new hit single with singer Drake, Fall For You.
Luckily, Jamie didn’t end up getting arrested on his birthday but at 43, let’s just hope all the crazy days are behind him.