Category: Category 1

Hard Rock to Roll Dice on Trump Taj Mahal, Upping Renovation Budget to $500 Million

Hard Rock International doesn’t like what it sees inside the Trump that is former Taj in Atlantic City, which the company purchased in March for $50 million.

Hard Rock Chairman Jim Allen, A trump that is former entertainment employee, is now tasked with renovating his previous boss’s grand vision in Atlantic City.

Billionaire Carl Icahn’s bargain price selloff designed the tricky Rock was acquiring a Boardwalk home for pennies on the buck, as former casino developer turned US President Donald Trump built the resort for $1.2 billion in 1990.

But upon closer inspection, Hard Rock officials state it is going to price a pretty penny to refresh the 2,010-room resort and video gaming space, and rid it of a India-themed décor.

‘The sum of money we’re going to have to spend to remove all those minarets and all that purple, Jesus! Just What were we thinking?’ Hard Rock Chairman Jim Allen told the Associated Press this week.

The minarets Allen refers to are the spire and crowns that are onion-shaped ornaments found round the Trump Taj Mahal.

Hard Rock Ups Ante

Though the company owned by the Seminole Tribe in Florida got a spot that is premiere the Atlantic City Boardwalk for a rock-bottom cost, Hard Rock professionals state the initial budget of $350 million defintely won’t be nearly enough to trnsform the space into a proper rough Rock Hotel & Casino. Allen estimated that the project’s expense will increase to at minimum $500 million.

‘It does us no good to put some guitars in the wall and brand new carpets, and say, ‘I’m able to simply take five or 10 % associated with the company from Resorts or Harrah’s,” Allen said.

Anyone who traveled to the Taj Mahal before its October closing understands the work that is serious lies ahead. a dark gaming flooring and outdated consuming spaces left the casino feeling musty and unclean.

Atlantic City is in the process of finding a norm that is new terms of gaming and hospitality revenue. Five gambling enterprises closed since 2014, but the economy is showing signs of recovery and turning the corner to a more time that is prosperous.

For the very first quarter of 2017, the casino that is remaining created $816.7 million in revenue from their casinos, resort rooms, food and beverage services, and entertainment. That represents an 8.6 percent gain in the period that is same year earlier.

State of the Union

Atlantic City officials will welcome the increased gladly investment from Hard Rock, and maybe moreover, the company’s revelation that it plans to reestablish the property’s relationship with all the Local 54 casino workers union.

Previous owner Icahn slashed benefits and pay that is flatlined he purchased the Taj Mahal out of bankruptcy in February of 2016. The union fundamentally continued a strike, but the billionaire didn’t fold with their demands. The standoff led to Icahn closing, and subsequently offering, the home once dubbed the ‘eighth wonder regarding the world.’

Allen states he’ll work with Local 54 for a labor contract that is new.

‘There’s going to be no dispute with Local 54,’ he said. ‘We’re going to put people back to work.’

Rio Olympic Infrastructure Left in Economic Chaos, Was It Worth the Gamble?

The Olympics no longer have the upper hand in determining where its summer and cold weather games will be contested. That’s as the sporting that is international have left a course of destruction, both in a financial and infrastructural feeling, in recent decades.

It was just nine months ago that Michael Phelps capped down his storied Olympics job within the Aquatics Center in Rio de Janeiro. Built for the 2016 Summer Games at a price of $38 million, now it sits vacant deteriorating. (Image: Mario Tama/Getty Images)

Cities are finally wising up that the gamble on hosting the Olympics far outweighs the reward that is potential. The chances of a nation striking it rich from hosting the quadrennial summer or cold weather spectacle are about since likely as a casino gambler hitting that progressive slots jackpot.

Here’s an example: Rio de Janeiro. Brazil’s 2016 Olympics price tag was over $12 billion, and what it got in return for its sizable investment is a cluster of abandoned stadiums and venues that are expected to cost the country huge amount of money in maintenance every year.

Two of the stadiums constructed for the 2016 games were earmarked for future use. One was to be renovated into a college, but remains boarded up today. Another, some other stadium that hosted rugby therefore the modern pentathlon, was planned to be changed into a general public park. It stays vacant, and from the Olympics 21 dukes casino instant play is still littered throughout the venue.

Good for Gambling, Harmful To City

One area that does benefit from hosting an Olympics could be the gambling industry. When London welcomed the 2012 Summer Games, British sportsbooks took in over $100 million in bets. Four years earlier in Beijing, the same oddsmakers created a handle that barely eclipsed $5 million.

Brazil tried to pass video gaming laws prior to its Olympics hosting, but failed. Legalization talks continue in an effort to find new forms of tax revenue today. Las Vegas Sands billionaire Sheldon Adelson is once such mogul who is reportedly interested in building in Rio if the market become liberalized.

Japan defintely won’t be making the same mistakes as Brazil. Its National Diet passed a built-in resorts bill to end commercial gambling prohibition in December, and the expected two casinos could be ready in time for the 2020 Summer Games in Tokyo.

Few Suitors Remain

While the 2016 Olympics avoided catastrophe that is complete it was certainly a scandal-riddled two weeks in Southern America. Inadequately built venues and housing that is athlete sanitary problems, concerns over crime, the Zika virus, and more plagued the games.

The International Olympic Committee can cross South America off its list, leaving Africa as the only continent that is inhabitable to host an Olympics. But it will likely stay that means for decades in the future due towards the ever-growing price surrounding the Games.

Los Angeles and Paris are the two finalists for the 2024 Summer Olympics after Budapest, Rome, and Hamburg all withdrew their bids.

Bottom Line

Oxford University recently compiled data about what it requires to host the Olympics. With costs modified for inflation, from 1960 through Sochi in 2014, the average price ended up being $5.2 billion for the Summer Games, and $2 billion for the Winter Games.

Las Vegas not Enough that is drunk to List of Top 20 Booziest Cities

Las Vegas can be looked at as Sin City, but that doesn’t mean the accepted destination is awash in booze 24/7. Well, actually, maybe its. But when it involves determining the cities that are drunkest America, Las vegas, nevada hasn’t got a thing on Midwestern metropolises such as Dubuque, Iowa, Lincoln, Nebraska, or Milwaukee, Wisconsin.

No matter how much this guy can throw back in an evening, it will not be enough to declare the city that is whole of Las Vegas among the drunkest places on the map. (Image: o2ip.com)

Research conducted by financial news web site 24/7 Wall Street looked to determine the 20 drunkest cities in the us based on rates of excessive imbibing rate as well as other factors related to alcohol-fueled ills that are social. The list revealed that while Las Vegas’ reputation as a party city may be well-deserved, it scarcely constitutes a civic health danger.

The study discovered the biggest drunks weren’t seen stumbling along the Strip or passed away in a casino lobby. Spoiler alert: in ranking the drunkest cities, the main destination was Green Bay, Wisconsin.

Las vegas, nevada don’t crack the Top even 20. Therefore what gives? Scroll through record, and you notice some patterns. Nearly all of the towns at the top are into the Midwest, a whole lot come in college towns, and almost all were in places that are super-cold for more than half the year.

Their state of Wisconsin had nine towns and cities on the list. Three places in Iowa made the top 20. Minnesota and North Dakota additionally made showings that are respectable. And even Fairbanks, Alaska, allow it to be known they have something to offer that Las Vegas does not.

Exactly What Doesn’t Happen in Vegas …

For one, unlike most towns on the list, Las Vegas isn’t much of a college town, at least maybe not associated with type where tailgating has made Saturday morning binge drinking a community affair. The number of large state college cities that made the list can invariably depend on a crop that is new of moving to city, ready in the future of age not too far from campus.

There’s UNLV, with 28,000 students, but most of them are commuters. And even for those who do like to party, it’s different whenever they can simply blend in with the crowds at casinos and nightclubs within stumbling distance (or maybe merely a cheap ride that is uber from home.

Likewise, gambling enterprises may have reputation for plying gamblers with free booze, but really that trend is rescinding, as corporate Las Vegas gambling enterprises are reducing the breeziness with which they dole out free alcohol and other comps for folks who aren’t necessarily high rollers.

And while tourists visited town to party hard, the Las Vegas metro area hosts almost 2 million residents, most of whom are not partying 24/7. The next day for every drunken bachelor party on the Strip, there’s a family in the surrounding areas not rocking out, but rather at home getting ready for school.

Boozer’s Methodology

The methodology in this study used self-reported information from the departments of health and individual solutions in 381 metropolitan areas to determine the prevalence of excessive ingesting, which correlated with total number of bars and a percentage of auto fatalities where alcohol was involved.

The study that is same compiled an inventory of the ‘driest’ urban centers in the us. Another spoiler: Provo, Utah, was number one. The home of BYU boasts only 10 bars in town and only 8.5 percent of the adult population experienced in excessive drinking despite being a college town.

Fortunately, for those charged with marketing nevada due to the fact planet’s premiere party destination, Las Vegas was nowhere close to making that list.

Another recent research of ‘Drunkest Cities in America’ by The Daily Beast used somewhat different metrics, but still nevada couldn’t split the top 20, coming in at number 21.

If anything, the 24/7 study assessed indicators of problem drinking, not simply amount of booze consumed. So while many may fondly recall Las vegas, nevada as an accepted place where they drank more than they thought humanly possible, as a city it’s a place that does pretty much holding its liquor.

NBA Finals Odds Favor Golden State Over Cleveland in Rubber Match Series

For the 3rd straight year, the NBA Finals odds in Las Vegas prefer the Golden State Warriors to win the Larry O’Brien Trophy within the Cleveland Cavaliers. But if history tells us any such thing, it’s that the rubber match series is any such thing but a foregone conclusion.

LeBron James’ defending champs will be the 2017 underdogs according towards the NBA Finals odds, but that was also the situation a year ago. (Image: Garrett Ellwood/Getty Graphics)

The Cavs took care of business by beating the Boston Celtics to end the series in five games on Thursday night. They now have a to prepare for the warriors, a team that’s a perfect 12-0 in this year’s playoffs week.

The best-of-seven showdown doesn’t begin until next Thursday, June 1, but Las Vegas sportsbooks are of course already using bets. As the NBA Finals odds favor Golden State, the first action happens to be on the defending champs.

The Westgate SuperBook exposed the series prices at Cleveland +220, and Golden State -260. Meaning a winning $100 bet on the Cavs returns $220, while the bet that is same the Warriors returns just $38.46.

However, chances are tilting in Cleveland’s favor since they certainly were first posted. The moneyline has shrunk the Cavs’ chances to +200, with the favorite now at -240.

LeBron James, Kyrie Irving, and Kevin Love look to repeat and present Cleveland activities its second major championship in as a long time. That follows a drought that is 52-year caused numerous Ohioans anguish on the years.

They face Kevin Durant, who had been added to the already all-star-like Warriors roster last offseason, and mainstays Steph Curry, Klay Thompson, and Draymond Green.

It’s the matchup every basketball fan outside the Bay Area and Ohio wanted to see. That includes oddsmakers, which stay to see heavy wagering on the Finals rivalry.

More Than Rings on the line

The Warriors took the 2015 title, defeating LeBron in his first year after coming back home from their four-year stint in Miami where he won his first two titles. They matched once again last June, and after a record-setting season that is regular the team out west, and down 3-1 in the series, the Cavs pulled down the unthinkable in finding its way back and upsetting the champs.

Now, it’s Golden State’s seek out get revenge. Last fall, Green said need the two teams meet again, ‘ I want to destroy Cleveland. I want to annihilate them.’

Along side determining which team takes the lead within the three-game NBA Finals showdown, analysts believe the identity associated with league normally on the line. Will it remain LeBron’s, or is it time to hand the reins over to Curry and Durant?

James Praises Warriors

Following his Eastern Conference Finals win, LeBron dished out plenty of respect for the ‘juggernaut,’ that he faces next as he called them.

James, who is going to their seventh right Finals and passed Michael Jordan in the all-time playoff scoring list on Thursday, said, ‘They’ve been the most useful team in our league going back three years. And additionally they’ve added an unbelievable player in Kevin Durant so it makes it even more difficult.’

Ohio Casino Employees Will Soon Find A Way to Gamble In-State

Ohio casinos are about to gain a large number of brand new players that are prospective thanks to the people who work for them.

The Ohio Senate voted on Wednesday 32-0 to eliminate a prohibition on casino employees gambling in any one of their state’s four casino gaming resorts.

A bill ready become signed into legislation in Ohio will rescind a prohibition against casino employees gambling in the Buckeye state, and instead is only going to avoid them from playing at the accepted place they work. (Image: Toledo Blade)

The current legislation, which went into effect soon after Ohio voted to legalize casinos on 2010, causes it to be a first-degree misdemeanor for employees to gamble at any casino within the Buckeye State.

It pertains to dealers, wait staff, executives, entertainers, valet parkers, maintenance workers, and just about someone else who works in or for the casino.

At that time, the stated purpose ended up being to prevent corruption and collusion, while assuring the public that Ohio gambling enterprises would never cheat them.

Rep. Bill Seitz (R-Cincinnati) introduced a bill to address the irrelevance of current statute year that is last when he had been a state Senator. Term limits forced him to leave the Senate, but upon being elected to carry on serving in the House, he brought the bill it won approval from the House on a 94-3 vote with him, and by February.

His bill revised language of that statutory law to say casino workers were only forbidden from gambling at their office, or any affiliated properties in-state.

All Work and No Enjoy?

Ohio casinos employ a lot more than 9,000 people. That is clearly a great deal of potential prospects who presumably have an interest in gambling forced traveling to Michigan, Indiana, or Pennsylvania for the nearest place to play.

Existing law doesn’t influence workers at the state’s seven ‘racinos,’ an inequity the bill that is new to address.

Prohibited casino employee gambling is a misdemeanor that is first-degree by up to 180 times in jail and a $1,000 fine. Repeat offenses can fundamentally lead to felony charges. But this has not been a presssing issue, as so far, zero casino operators or workers have been prosecuted.

‘After five years of regulating and enforcing what the law states at Ohio’s casinos, we have not possessed a case of employees from different casinos working in collusion to cheat,’ Matthew Schuler, executive director of the Ohio Casino Control Commission, testified in February. ‘In fact, given the systems of surveillance, segregated duties, and interior controls unique to each casino operator, it could be difficult to also attempt.’

In-State’s Rights

Schuler said in a declaration that the law that is new ‘bring Ohio into alignment with neighboring jurisdictions where such an approach has proven fair whilst still being maintains the integrity of casino video gaming.’

Pennsylvania had a prohibition similar to Ohio’s set up whenever they legalized gambling in 2006. They rescinded the limitation on in-state gambling in 2012, using it instead only to a person’s place of employment.

In New Jersey, state regulators lifted a ban on employees’ gambling in-state at establishments other than their place that is own of in the early 1990s.