Caesars Entertainment Corp. says it plans to replace Las Vegas’ shuttered Bill’s Gamblin’ Hall & Saloon in the spring with a swanky 188-room hotel renamed the Cromwell.
The Old West-style casino closed last year and was to open as the Gansevoort, but Caesars ended its relationship with the Gansevoort Hotel Group in the fall after the state of Massachusetts questioned the partnership.
The Cromwell, located in the heart of the Strip, is expected to have a subtle Parisian theme. It will include a rooftop pool and Drai’s day and nightclubs. Caesars is calling it Las Vegas’ first “luxury lifestyle boutique hotel.”
Caesars had been a partner in a Massachusetts casino bid, but it withdrew in October after Massachusetts Gaming Commission staff raised concerns stemming from a background check.
A commission report, among other things, raised questions about Caesars’ licensing agreement with a subsidiary of New York-based Gansevoort Hotel Group. The report said a Gansevoort investor has been under scrutiny, though not charged, over alleged ties to Russian organized crime.
The renovation of Bill’s cost $185 million. Among other things, Caesars added hardwood floors, black and white tile shower walls, and plush seating to the hotel rooms.
“The Cromwell will bring an exclusive experience to the Las Vegas Strip as a luxury lifestyle boutique hotel focusing on hospitality, amenities and personalized service,” Cromwell general manager Karie Hall said in a statement.
Despite online gaming, Delaware casinos struggling
Delaware lawmakers were concerned about declining revenues at the state’s three casinos, even before approving a full-menu of online gambling, and ordered a complete review of gambling in the Commonwealth.
Following last week’s financial report from Dover Downs Gaming and Entertainment Inc., the legislators involved in the scrutiny became even more concerned.
The company reported net earnings of $13,000 for the year 2013. This was a far cry from the $4.8 million the company reported in the previous year.
Dover Downs officials attributed the decline in large part to intense competition from casinos in neighboring states and a burdensome tax structure. Actually, when the casinos were flourishing, a few years back, lawmakers decided to take advantage of their success by dramatically increasing taxes on gambling establishments.
Then, competition from nearby states expanded to the point where the operating casinos are struggling to make a profit.
The state panel created to find ways to keep Delaware’s three casinos competitive is expected to submit its report by the end of the month.
Casino Insider
The Massachusetts Gaming Commission said it plans to publicly announce the winner of a slots parlor license on Feb. 28.
MGM Resorts International (MGM) will announce its quarterly and yearly financial experience on Wednesday, Feb. 19, before the markets open.
Bally Technologies Inc. (BYI) announced Monday it has an agreement with Boyd Gaming Corp. (BYD) to install its various display and bonusing systems in all Boyd properties currently operating in seven different states.
The Standardbred horse racing industry in Ohio has been revitalized by the addition of video lottery terminals, say state officials. They pointed out that in 2003 there were 2,591 mares bred but the number had fallen in 2010 to 688. Last year, the number of mares bred reached 2,200.
The New Hampshire House last week voted to allow electronic keno games in bars and restaurants that serve alcohol. The vote was 202-141 to send the bill to the Senate.
A New Mexico legislative panel has asked the Navajo Nation and Gov. Susana Martinez to renegotiate a proposed gaming compact. The lawmakers hope a new compact would restrict the state’s largest tribe to their existing casinos rather than allowing an expansion of gambling.
The Four Bears Casino in New Town, North Dakota, has announced plans to build a 4,000-plus seat, multi-purpose events center this year.
Tribal gaming in Arizona will provide the state $13.5 million in revenue for the quarter that ended on Dec. 31, according to state officials.
MTR Gaming Group Inc. (MNTG) announced over the weekend it had terminated the services of Fred A. Buro, the company’s vice president and chief marketing officer.
Dover Downs Gaming & Entertainment Inc. (DDE) has announced the appointment of Timothy R. Horne to its board of directors. Horne serves the company as its chief financial officer.
S.D. voters to decide on allowing casino table games
Unlike Kentucky, South Dakota voters will be permitted to decide whether to approve a constitutional amendment that would permit Deadwood casinos to offer such games as roulette, keno and craps.
Only one member of the House State Affairs Committee voted against the plan. He said he was deeply troubled by the state’s dependency on predatory gaming revenues.
Amendment approval will not only help Deadwood casinos attract new customers, supporters said, but also will help tribal casinos that would be able to add to their gaming menu.
For several years, efforts by some Kentucky lawmakers to permit voters to address the issue of a constitutional amendment that would permit casino gambling have been rejected.
Penn. officials may grant another Philadelphia license
Philadelphia currently has one casino – SugarHouse – but Pennsylvania gaming officials are considering granting one more license for the Philadelphia area. There are five applicants for the license.
Two of the applicants, Market8 and Provence, see major developments while others would scale down their properties. Either way, another licensee in Philadelphia will eat into some of SugarHouse’s revenues.
Appearing before gaming officials last week, Chicago businessman Neil Bluhm, SugarHouse’s owner, said another casino nearby would “put SugarHouse and any downtown facility in financial jeopardy from Day One.”
Poll shows interest in N.J. Internet gambling growing
A recent poll revealed only 3 percent of New Jersey residents have participated in that state’s Internet gambling thus far but a much larger number planned to take part this year.
The poll, conducted by the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism at the Richard Stockton College of New Jersey surveyed 600 residents.
“Interest in online gambling is growing and should continue to grow once marketing efforts and promotions take off,” said Institute director Israel Posner.
As an aside, the poll found 55 percent of residents support legalized sports betting in the state.