No Smoking Revel Going Up in Smoke with Bankruptcy

Simply days in short supply of a year since it exposed to great fanfare, Atlantic City’s no smoking casino experiment Revel is looking to declare bankruptcy, centered on federal securities regulators’ disclosure statements the casino filed early in the day 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 (formerly of the Mohegan Sun in Connecticut) takes the reins over of this faltering mare.

Resignations Are Really 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 isn’t Japan, or there would be intestinal entrails from the penthouse to the parking lot by now. Nope, this is America, the place where a smartly negotiated contract whenever you sign up gets that you well-paid ride when you are axed; therefore DeSanctis and Garrity not only get to stay on with the Revel brand, they could also look forward to about $7 million in consulting fees for the remainder year. Is that each or together? We’re not yes, but our hat goes off to their lawyers: well-played, counselors, well-played!

Smoke Signals

Although Atlantic City overall has been in a nosedive that is financial (attributed to everything from Hurricane Sandy to a not clear marketing platform for conventions), some are still pointing fingers at DeSanctis and Garrity for producing the first-ever 100 percent nonsmoking casino in AC. This isn’t really as wild and crazy an idea 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. Nevertheless, 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, even smoke-crazy Macau established a partial smoking ban as of January first, yet seems to be on track for the 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 41.5percent in the wrong direction since 2006, versus Las Vegas’ 7.2% drop, and Sin City has had way more recessionary disasters to cope with than AC.

It Cann’t Mount Up

With a limited, enclosed smoking area now established at the behest of anxious creditors, Revel says it could actually make money year that is next but that isn’t using its debt servicing costs into account. Currently ranked 10th out of 12 in the revenue scale of AC casinos, maybe what Revel really needs is somebody who can do math.

Hawaii Just Says No to Gambling Learn

You probably wouldn’t be too surprised to discover that gambling of any type or kind is banned in Utah; all things considered, the greatly Mormon state appears down on sinful activities of any kind. But Hawaii? Just How did the final state to join the Union get so persnickety when it concerns games of chance anyway?

No Resolution for Hawaii

Whatever the reason, the governmental powers-that-be don’t even wish to consider adding gambling to your lures that might draw tourists to their sunny clime. The Hawaii House recently refused to approve a resolution that called for the Aloha State to simply study the feasible social and benefits that are economic detriments of bringing gambling up to speed legitimately there. Really? Not a research? That appears rather closed-minded for an accepted place where surfing is practically a religion and grass skirts are considered a fashion declaration.

‘ Too Expensive’ to Study

According to Representative Clift Tsuji (D-Hilo_Waiakea-Keaukaha), the issue is economic. No, maybe not the gambling part; the scholarly research component. Other politicians on hawaii’s Economic Development Committee denied the study proposal out of hand, saying it ‘would be very costly.’ Okay, so wait, we’re confused: you’re designated to study what would bring you more benefit that is economic but haven’t any money to ascertain what would or what would not?? Fine, go have another cocktail or three in the taxpayer, cause we are not exactly sure how you’re going to figure down such a thing if that’s the situation.

It is simply a Lottery

While they might find a gambling research too pricey, apparently the state Senate had no dilemmas with a recent bill that required a state Internet lottery and gaming entity become founded, with the purpose of ultimately appointing one lucky service provider to work an on line gambling site. (Yes, it’s a confusing that is little you would need a site operator when you can’t even study whether or not you intend to have gambling legalized in your garden.) Hawaii’s House of Representatives additionally introduced a bill along the exact same lines year that is early last however it shot to popularity 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 method, as legalizing casinos would significantly affect their bottom lines? Surely not; we know no one ever takes bribes, overt or suggested, when it comes to stuff like this.

Guess ‘Hawaii, the Gambling State’ defintely 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 for the PartyPoker Premier League VI during the Aspers Casino near London, using the title after times of action and a tough heads-up round against Sam Trickett to finish up this exciting tournament.

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

And…Action!

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

Talal Shakerchi was to go out of the final table whenever actress Jennifer Tilly sent him packing, picking up a pair of aces in the flop to beat out his pocket kings. But Tilly’s luck ran short as she had been the next to hit the rail, and was removed from the battle by Duhamel. Shakerchi walked away with $45,000 while Tilly took home a prize of $60,000.

Eliminations Continue

Finishing in sixth place and home that is taking70,000, Reinkemeier had been also eliminated by Duhamel, despite his starting into the pole position. This elimination play thrust Duhamel into 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 present year’s winner. ‘I’m sorry, man,’ announced Shak as he delivered Cates home with $100,000 in their pocket.

Despite his impressive performance, it was Duhamel who finished in fourth place after Trickett left his chip stack dwindling. The Canadian can’t complain too much however as it had been the soon-to-be champion Shak that beat him out and he nevertheless pocketed a good $125,000.

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 potato chips. Nonetheless, Trickett hammered away at Shak and actually stole the lead from the United states.

But alas, it had been to not be Trickett’s night, as a later flush saw Shak sitting pretty with virtually every chip up for grabs in their possession. After that, there had been little hope for the Brit and Shak emerged victorious since the champion for 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 worldwide Poker Index Player associated with race year. Nevertheless, this Premier League win will not count towards the standings.

San Francisco Game Developers Conference Is business that is serious

If you’ve always desired 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 get up there interested in 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 organizations that will be searching for the best of the greatest at the conference: the up-and-coming developer talent that can create the following generation of exciting high-tech games for them within the uber-competitive video slot and mobile app gaming market.

The hard part is being in a position to match the never-ending demand for newer, better, and more dazzling, according to Gary Kapral, Bally’s senior v.p. of operations and hr. ‘ The challenges are volume and quality,’ Kapral stated. ‘We can’t get enough from the ads online,’ he included as to why Bally’s is attending the meeting, looking for recruits.

Bally’s is just one of a lot of companies looking to fill roles like mobile and content that is interactive, programmers, web developers, graphic artists, digital illustrators, motion-graphic artists, 3D animators and mathematicians. Yes, it will pay to be always a nerd that is creative.

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

Conference is Growing

The conference that is now 26-year-old blossomed from a friendly gathering of developers over a week-end to a week-long event featuring more than 22,500 gaming industry insiders and attendees. It is get to be the primary 1984 shmoop forum for programmers, artists, producers, game developers, audio pros, and everyone else involved into the creation and development of interactive high-tech gaming to meet, brainstorm and mingle. UBM Tech Game system produces the annual event.

GDC additionally features more than 400 lectures, panels, tutorials and discussions that are round-table all things gaming by leading industry experts. This present year’s GDC conference also features the 14th Annual Independent Games Festival, where game designers can showcase their original projects to possible 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 permitting me inhabit their basement, rent-free, for 14 years,’ is probably a typical prizes acceptance speech, we are guessing.