Private gambling in Las Vegas down
Monday, December 6 2004 at 10:31
In November 2004, two Las Vegas Casinos, Mandalay Bay and Caesar's Palace, renewed their applications to operate private gambling salons.
In 2002, the two famous Las Vegas resorts were given temporary approval for a smilar application. The approval expired in fall 2002. The new licenses are unlimited. Previously, another famous Las Vegas venue MGM Grand received a similar license.
Wagering behind closed doors is practically illegal in the state of Nevada, with a few exceptions. In 2002, Las Vegas casino companies applied to the Gaming Control Board to allow the establishment of private gaming salons.
Their guess was that private gambling salons would be more appreciated by high rollers. In fact, the whole nature of public gambling activity was considered to blame for the drastic decrease in visits to Las Vegas casinos by big spenders.
The law was passed.
Yet within two years, the takings from private salons did not justify the decision. The executives at Caesar's Palace for example, spent millions of dollars to construct and promote a private salon for the one per cent of clients who said it would be their only chance to increase income from their casino area. All their efforts resulted in just one new client. At least that is what Rosalind Krause, Senior Vice-President of casino services at Caesars, states.
Officials from the other two casinos also expressed their disappointment in this finding. The news led Bobby Stiller, one of the Gaming Control Board members, to suggest that the casino executives are not working hard enough to make private gambling in Las Vegas perform as promised.
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