No Smoking Revel Going Up in Smoke with Bankruptcy

Just days short of a 12 months because it opened to fanfare that is great Atlantic City’s no smoking casino experiment Revel is looking to declare bankruptcy, considering federal securities regulators’ disclosure statements the casino filed earlier this week. Through the magic of high finance sleight-of-hand, some $1.5 billion in staggering debt 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 over the reins of the faltering mare.

Resignations Are a deal that is good

Hartman gets control for recently departed Walk of Shamers ex-CEO Kevin deSanctis and Chief Investment Officer Michael Garrity; thankfully, this is not Japan, or there is intestinal entrails from the penthouse to your parking lot by now. Nope, this is America, the place where a smartly negotiated contract whenever you sign up gets that you ride that is well-paid you’re axed; therefore DeSanctis and Garrity not merely arrive at stay on with the Revel brand, they are able to additionally look ahead to about $7 million in consulting fees for the remainder year. Is that each or together? We’re not sure, but our hat goes off to their attorneys: well-played, counselors, well-played!

Smoke Signals

Although Atlantic City overall was in a nosedive that is financial (attributed to everything from Hurricane Sandy to an ambiguous marketing platform for conventions), some are still pointing fingers at DeSanctis and Garrity for creating the first-ever 100 % nonsmoking casino in AC. This is simply not really as wild and crazy a concept them to shut down, it didn’t seem to even put a small dent on business there as it may appear; poker rooms nationwide have been totally nonsmoking for more than a decade and until online poker’s Black Friday hit and forced many of. Nonetheless, investors had implored non-Cheech and non-Chong to switch straight back up to a more traditional mostly smoking format, but alas, to no avail.

The issue may not actually be smoking vs. nonsmoking anyway; aside from the poker room analogy, also smoke-crazy Macau established a partial smoking ban as of January 1st, yet is apparently on the right track for a record month of revenues for March of this season. More likely, it is an expression of Atlantic City’s overall freefall, as the city has spiraled 41.5% in the wrong direction since 2006, versus Las Vegas’ 7.2% drop, and las vegas has had means more recessionary catastrophes to deal with than AC.

It Willn’t Mount Up

With a limited, enclosed smoking area now founded at the behest of anxious creditors, Revel says it could actually make money next year; but that is not using its debt servicing costs into account. Currently rated 10th away from 12 regarding the revenue scale of AC casinos, maybe what Revel really needs is someone who can do math.

Hawaii Just Says No to Gambling Learn

You probably would not be too surprised to learn that gambling of any type or kind is banned in Utah; in the end, the heavily Mormon state looks straight down on sinful activities of all kinds. But Hawaii? How did the last state to join the Union get so persnickety when it comes to games of chance anyway?

No Resolution 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 a resolution that needed the Aloha State to just study the feasible social and benefits that are economic detriments of bringing gambling on board lawfully there. Really? Not a study? That appears rather closed-minded for spot where surfing is practically a religion and grass skirts are believed a fashion statement.

‘ Too Costly’ to Study

According to Representative Clift Tsuji (D-Hilo_Waiakea-Keaukaha), the issue is financial. No, perhaps not the gambling part; the research component. 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 ascertain exactly what would or what would not?? Fine, go have actually another cocktail or three in the taxpayer, cause we are nearly sure how you are going to figure down any such thing if this is the case.

It is simply a Lottery

While they might locate a gambling study too pricey, apparently the state Senate had no dilemmas with a bill that is recent needed a state Internet lottery and gaming entity to be established, with the goal of eventually appointing one lucky service provider to work an online gambling site. (Yes, it’s a little confusing just how you would need a web site operator when you can not even learn whether or not you wish to have gambling legalized in your yard.) Hawaii’s House of Representatives also introduced a bill along similar lines year that is early last however it took off like a grounded Concorde.

Of course, there’s plenty of underground gambling in Hawaii 1984 chapter 1 guide, as witness some major raids in recent months; is it possible that said operations are behind a groundswell to keep it that way, as legalizing casinos would greatly impact their bottom lines? Surely maybe not; we know no one ever takes bribes, implied or overt, with regards to stuff like this.

Guess ‘Hawaii, the Gambling State’ 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 regarding 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 exciting tournament.

Along with the title that is prestigious Shak has walked away by having a cool $450,000, leaving the British runner-up by having a pleasing $200,000 prize for 2nd place.

And…Action!

Starting the table that is final third position behind chip frontrunner Tobias Reinkemeier and Jonathan Duhamel, Shak demonstrated great poker skills and patience while the hedge fund manager took down the chip leaders and emerged victorious.

Talal Shakerchi was first to leave the last table when actress Jennifer Tilly delivered him packing, picking up a pair of aces in the flop to beat his pocket kings out. But Tilly’s luck ran short as she was the next to strike the rail, and ended up being removed from the race by Duhamel. Shakerchi walked away with $45,000 while Tilly took home a prize of $60,000.

Eliminations Continue

Finishing in sixth place and taking home $70,000, Reinkemeier was also eliminated by Duhamel, despite his starting into the pole position. This elimination play thrust Duhamel in to the position of chip leader and it began to look as though he could not be beat.

5th place went to Daniel Cates, the runner-up of last year’s tournament, after he had been eliminated by this year’s winner. ‘I’m sorry, man,’ announced Shak as he delivered 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 too much however as it absolutely was the soon-to-be champion Shak that beat him out and he still pocketed a good $125,000.

Antonio Esfandiari then left the table, additionally at the mercy of Shak, and left Shak and Trickett to duke it out in the heads-up that is final albeit with $150,000 in his pocket.

The Ultimate Showdown

Shak went into the heads-up with a lead of 1.7 million to Trickett’s 871,000 potato chips. However, Trickett hammered away at Shak and really stole the lead through the American.

But alas, it had been never to be Trickett’s night, as a subsequent flush saw Shak sitting pretty with virtually every chip on the table in his possession. After that, there was little hope for the Brit and Shak emerged victorious whilst the champion regarding the 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 regarding the Year competition. But, this Premier League win will not count towards the standings.

San Francisco Game Developers Conference Is business that is serious

If you have always wished to be someone who designs those cool, high-tech casino slot games you’ve played, you better be booking a flight yesterday for this week’s Game Developers Conference (GDC) in San Francisco; but do not go up there looking for work unless your resume is dazzling. Major recruiters like Bally’s Technologies aren’t playing around when they look for talent to create their games for customers.

Looking for ‘World-Class’ Talent

Bally’s is just one of numerous businesses that’ll be looking for the very best of the very best at the conference: the up-and-coming developer skill that may create the next generation of exciting high-tech games for them into the uber-competitive slot machine and mobile app gaming market.

The part that is hard being able to keep up with 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 amount and quality,’ Kapral said. ‘We can’t get enough from the ads online,’ he included as to why Bally’s is attending the seminar, looking for recruits.

Bally’s is just one of many companies looking to fill positions like mobile and interactive content developers, programmers, internet designers, graphic artists, digital illustrators, motion-graphic artists, 3D animators and mathematicians. Yes, it will pay to be 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 conference that is now 26-year-old blossomed from an informal gathering of developers over a weekend to a week-long event featuring more than 22,500 gaming industry insiders and attendees. It is become the forum that is primary programmers, artists, manufacturers, game designers, audio pros, and everyone involved in the creation and development of interactive high-tech video gaming to meet, brainstorm and mingle. UBM Tech Game Network produces the event that is annual.

GDC additionally features more than 400 lectures, panels, tutorials and round-table conversations about all things gaming by leading industry experts. In 2010’s GDC conference also features the Annual that is 14th Independent Festival, where game designers can showcase their original projects to possible writers, and the 12th Annual Game Developers Choice Awards, sort of Oscars for the electronic games industry via peer recognition.

‘I’d like to thank my mother and dad for letting me are now living in their basement, rent-free, for 14 years,’ is most likely an awards that are typical speech, we’re guessing.

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