No Smoking Revel Going Up in Smoke with Bankruptcy

No Smoking Revel Going Up in Smoke with Bankruptcy

Simply days in short supply of a 12 months as it started 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 financial obligation 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) takes over the reins of this faltering mare.

Resignations Are a deal that is good

Hartman takes over 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 entrails that are intestinal the penthouse to your parking lot by now. Nope, this is America, where a smartly negotiated contract once you sign up gets you a well-paid ride when you’re axed; so DeSanctis and Garrity not only get to remain on with the Revel brand, they can additionally look forward to about $7 million in consulting charges for all of those other year. Is that each or together? We’re maybe not certain, 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 uncertain marketing p Continue reading “No Smoking Revel Going Up in Smoke with Bankruptcy”

Private Casino, Sir? Bellagio Raises the Bar for High-Roller Offerings with Villa Privé

Private Casino, Sir? Bellagio Raises the Bar for High-Roller Offerings with Villa Privé

Massive penthouse suites, personal butlers, professional chefs planning premium dishes right in your room: that’s nothing new to the high-rollers, (aka ‘whales’) of the gambling world. People who can manage to gamble anywhere from high six-figures right on into the millions expect you’ll be courted just like the hottest chick in the course by gambling enterprises all throughout the world, and to the victor go the spoils. When you’re prepared to blow a half-million over a week-end’s gambling foray, casinos will become more than happy to make it since pleasant an event as possible, and nobody does this a lot better than the casinos of Las Vegas.

But now Bellagio, long-known as you of Sin City’s swanker joints, is offering something that simply will make other casinos look a tad bourgeois: for a cost, you could have an entire casino designated just for you personally along with your hand-selected, carefully monitored guests.

$300,000 Minimum to Book It

This sort of extravagance does not come cheap, however. ‘The customer must be willing to risk $300,000,’ said Debra Nutton, senior vice-president of casino relations at the Bellagio, in which the decadent salon that is private known as Villa Privé, is located far from the hoi polloi, on the resort level’s exclusive Villa grounds.

Turns out that is not really the casino being greedy; it’s due to strict gaming regulations th Continue reading “Private Casino, Sir? Bellagio Raises the Bar for High-Roller Offerings with Villa Privé”