No Smoking Revel Going Up in Smoke with Bankruptcy

Simply times in short supply of a 12 months since 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 secret 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 brand new CEO, Jeffrey Hartman (formerly of the Mohegan Sun in Connecticut) will take over the reins of the faltering mare.

Resignations Are a Great Deal

Hartman takes over 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 towards the parking lot by now. Nope, this is America, where a smartly negotiated contract once you sign up gets that you ride that is well-paid you’re axed; so DeSanctis and Garrity not just reach stay on with the Revel brand, they can also look ahead to about $7 million in consulting fees for all of those other year. Is that each or together? We’re perhaps not sure, but our cap goes off to their attorneys: well-played, counselors, well-played!

Smoke Signals

Although Atlantic City overall has been in a monetary nosedive recently (attributed to everything from Hurricane Sandy to an uncertain marketing platform for conventions), some are still pointing fingers at DeSanctis and Garrity for creating the first-ever 100 percent nonsmoking casino in AC. This isn’t 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 back to a more traditional mostly smoking format, but alas, to no avail.

The issue may not really be smoking vs. nonsmoking anyway; aside from the poker space analogy, also smoke-crazy Macau established a smoking that is partial as of January 1st, yet is apparently on course for the record month of profits for March of this season. More likely, it is a reflection of Atlantic City’s general freefall, as the city has spiraled 41.5percent in the direction that is wrong 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 year that is next but that’s not using its debt servicing costs into account. Currently ranked 10th away from 12 on the income scale of AC casinos, maybe what Revel actually needs is someone who can do math.

Hawaii Just Says No to Gambling Learn

You almost certainly wouldn’t be too surprised to learn that gambling of any kind is banned in Utah; most likely, the greatly Mormon state looks down on sinful activities of any sort. But Hawaii? Exactly How did the last state to join the Union get so persnickety when it involves games of chance anyway?

No Resolution for Hawaii

Whatever the reason, the political powers-that-be don’t even desire to consider adding gambling towards the lures that might draw tourists with their sunny clime. The Hawaii House recently refused to accept a resolution that needed the Aloha State to just learn the feasible social and benefits that are economic detriments of bringing gambling on board lawfully there. Really? Not really a study? That seems rather closed-minded for destination 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 presssing issue is monetary. No, maybe not the gambling part; the scholarly study part. Other politicians on their state’s Economic Development Committee denied the scholarly study proposal out of hand, saying it ‘would be too costly.’ Okay, so wait, we’re confused: you’re designated to study what would bring you more benefit that is economic but have no money to determine what would or what wouldn’t?? Fine, go have another cocktail or three in the taxpayer, cause we are not exactly sure how you’re going to figure away any such thing if that’s the instance.

It’s Just a Lottery

While they might look for a gambling research too pricey, apparently the state Senate had no issues with a bill that is recent called for a state Internet lottery and gaming entity to be founded, with the purpose of eventually appointing one lucky service provider to use an on line gambling site. (Yes, it’s a little confusing how you would require a site operator whenever you can not even study whether or not you need to have gambling legalized in your garden.) Hawaii’s House of Representatives additionally introduced a bill along equivalent lines early last 12 months, 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 current months; is it possible having said that operations are behind a groundswell to keep it that way, as legalizing casinos would significantly impact their bottom lines? Surely maybe not; we know no one ever takes bribes, implied or overt, when it comes to stuff like this.

Guess ‘Hawaii, the Gambling State’ will not 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 for the PartyPoker Premier League VI at the Aspers Casino near London, using the title after times of action and a hardcore heads-up round against Sam Trickett to finish up this exciting tournament.

Along with the prestigious title, Shak has walked away by having a cool $450,000, leaving the Uk runner-up by having a pleasing $200,000 prize for second place.

And…Action!

Starting the last dining table in third position behind chip leader Tobias Reinkemeier and Jonathan Duhamel, Shak demonstrated great poker skills and patience as the hedge fund 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 couple of aces in the flop to beat his pocket kings out. But Tilly’s luck ran short as she was the next to hit the train, and ended up being taken out of the competition 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 beginning 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 never 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 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 his chip stack dwindling. The Canadian can’t complain excessively 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, also 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 Ultimate Showdown

Shak went into the heads-up with a lead of 1.7 million to Trickett’s 871,000 chips. Nonetheless, Trickett hammered away at Shak and actually stole the 1984 summary part 1 lead from the United states.

But alas, it absolutely was to not be Trickett’s night, as a later flush saw Shak sitting pretty with virtually every chip on the table in his possession. After that, there was small hope for the Brit and Shak emerged victorious while the winner associated with PartyPoker Premier League VI.

This win brings Shak to an impressive $1.4 million in tournament wins so far in 2013, and sits him firmly in third position in the worldwide Poker Index Player of this race year. But, this Premier League win will not count towards the standings.

Bay Area Game Developers Conference Is Serious Business

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 this week’s Game Developers Conference (GDC) in San Francisco; but don’t go up there looking 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 clients.

Looking for ‘World-Class’ Talent

Bally’s is only one of several companies which is searching for the very best of the greatest at the conference: the up-and-coming designer talent that will create the following generation of exciting high-tech games for them into the uber-competitive slot machine game and app gaming market that is mobile.

The part that is hard being able to match the never-ending need for newer, better, and more dazzling, according to Gary Kapral, Bally’s senior v.p. of operations and human resources. ‘ The challenges are amount and quality,’ Kapral said. ‘We can’t get enough from the ads online,’ he added as to why Bally’s is attending the meeting, looking for recruits.

Bally’s is just one of many companies looking to fill positions like mobile and content that is interactive, programmers, internet designers, graphic artists, digital illustrators, motion-graphic artists, 3D animators and mathematicians. Yes, it pays to be always a imaginative nerd.

For the lucky few who become landing a job at the conference, it may be a nice payday; present college grads could pull in $50-60K, while those with five years of experience within the digital video gaming industry might end up bringing home a paycheck pretty near to six figures.

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 significantly more than 22,500 gaming industry insiders and attendees. It’s end up being the primary forum for programmers, artists, manufacturers, game designers, audio pros, and everyone else involved into the creation and development of interactive high-tech gaming to meet, brainstorm and mingle. UBM Tech Game Network produces the event that is annual.

GDC also features more than 400 lectures, panels, tutorials and discussions that are round-table all things gaming by leading industry experts. This season’s GDC conference also features the Annual that is 14th Independent Festival, where game designers can display their original 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 letting me are now living in their basement, rent-free, for 14 years,’ is probably an awards that are typical speech, we are guessing.