Quantcast
Channel: Las Vegas Headlines on One News Page
Viewing all 39581 articles
Browse latest View live
↧

Preston Rezaee and the Law Firm Will Provide You Vigorous Representation in Personal Injury Cases

June 6, 2014, 7:51 pm
$
0
0
When faced with situations where you have to suffer personal and financial loss or physical injury with long term repercussions, it is advisable to hire a personal injury attorney lawyer.An experienced personal injury lawyer will provide strong representation and help you make the right claim at the right time to get the deserved compensation for your losses. In United States of America, the lawyer who has established a high reputation with large number of successful fights and legal representations is Preston Rezaee. He is an experienced and dynamic personal injury lawyer in Las Vegas and Nevada. He has established The Firm to provide legal aid and services to the people in personal injury cases in the most effective way.

His personal injury Law Firm NV has helped thousands of people to make the right clams, file their lawsuits and get the deserved compensation on time. The attorneys of the Firm provide legal representations to clients who are victim of car accidents, truck accidents, medical malpractices, wrong practices at the work site and others. Preston and his law firm treat every client cordially and believe in establishing a strong bond of mutual trust. They expect clients to provide true and complete information about the incident that will help them to file a strong lawsuit against the wrong doer. The attorneys can even help in out of the court settlement to help you get good compensation in quick time.

Preston is the best Las Vegas personal injury Lawyer and he specializes in cases with severe brain injury. Recently, The Firm obtained 26.5 million dollar judgment for one of their clients. The personal injury law suits are intricate and only experienced lawyer can handle such cases and make it easy for the client to get the deserved compensation. The Law Firm and its attorneys handle a wide variety of matters and represent clients with diverse needs in the most cost0effctive and hassle free manner. They help clients to focus on their recovery while they take care of all law proceedings.

For those in need of assistance of a personal injury attorney Las Vegas, Nevada, there is no better option than The Firm. They will provide the most vigorous representation to help clients get what they deserve for their losses and injuries. The compensation will help the client to bear all the medical expenses and personal expenses of the home till the recovery time. So, feel free to consult the attorneys at The Form on any and all types of personal injury cases. For more information, please refer to www.prestonrezaee.com

Company Contact Information
Preston Rezaee Esq.
Preston Rezaee
200 E. Charleston Blvd.
Las Vegas, NV
89104
702-222-3476

News and Press Release Distribution From I-Newswire.com Reported by i-Newswire.com 12 hours ago.
↧
Search

Get Rave Ready with Gear from ILoveSexy.com

June 6, 2014, 7:51 pm
$
0
0
Express yourself with creative ravewear from the hottest suppliers all in one place.Raves are all year long but the best ones are probably the ones where summer fun is in the air. There's just something about summer time that makes people just want to play harder and dance longer. Amongst all the raves happening during this time of the year, one of the biggest is definitely the Electric Daisy Carnival in Las Vegas. That means there is no time to be wasting to put those outfits together. At iLoveSexy, an online retailer for lingerie, costumes, and ravewear there are plenty of rave event worthy pieces to choose from that will add the perfect amount of spark to any outfit.

The outfits that one wears at rave events has become a form of creative expression for many. Although it has become quite risque in these recent years, it has allowed people to cross boundaries when it comes to different types of garments. Many rave outfits incorporate items from other categories like swimwear and costumes. A perfect example of this is one of iLoveSexy's best sellers -- the Lace Wrap Around Top. This top is a fusion of the typical swim tops and the wraps that are popularly used as a rave accessory. Another favorite is this 2 Piece Shaggy Shelly Set. It is great as a costume but even better for raves with the vibrant colors and fluffy accessories that are often worn by people at events. Besides those, there are also accessories like leg warmers, hosiery, and tutus like this Rainbow Tulle Ruffle Back Tutu Tanga. It is made for those who enjoy tutus, but do not want the entirety of it to get in the way of their dancing. Rave gear can be taken from almost anything as long as one gets creative.

When it comes it putting together a rave outfit, there are a lot of bits and pieces that can go into creating a complete look. Some like it simple with just a top, a tutu, and some stockings, while others like to go all out with wraps and headgear. Whether or not a customer needs all those things or not, iLoveSexy is a great place to shop and get inspiration with the most unique pieces from the hottest suppliers.

iLoveSexy offers free domestic shipping for orders over $50, and customers can acquire a 10% discount coupon code when they 'like' their Facebook page. Obtaining a 10% discount code can also be done by following and tweeting them @ilovesexycom.

About ILoveSexy.com
Carrying over 165,000 products of sexy lingerie, ravewear, Halloween costumes, swimwear, shoes, and clubwear, iLoveSexy will have something for everyone. Founded in 2011, iLoveSexy strives to deliver a shopping experience where every customer can feel truly sexy. Their customer service team is on standby M-F 8:00-4:00PM PST to answer any questions or concerns. iLoveSexy's selection contains products from a variety of different brands such as Leg Avenue, Seven Til' Midnight, Pleaser, Roma Costume, Shirley of Hollywood and much more.

Company Contact Information
ilovesexy.com
Sammy Chan
4700 Miller Dr Suite H
91780
866-632-4632

News and Press Release Distribution From I-Newswire.com Reported by i-Newswire.com 12 hours ago.
↧
↧

What happened in Vegas? California pastor faces murder charge after bar scuffle

June 6, 2014, 9:43 pm
$
0
0
A California pastor is being extradited to Nevada on a murder charge in the death of a man outside a Las Vegas sports bar.  Reported by FOXNews.com 10 hours ago.
↧

GrowBLOX Sciences, Inc. Secures Special Use Permit for Medical Marijuana Establishment in Clark County, Nevada

June 6, 2014, 10:56 pm
$
0
0
LAS VEGAS, June 7, 2014 /PRNewswire/ --GrowBLOX Sciences, Inc. (OTCQB: GBLX), a biotechnology and research company, today announced through its local partnership, GB Sciences Nevada, LLC, that it ... Reported by FinanzNachrichten.de 9 hours ago.
↧

Monster Energy's Jeremy "Twitch' Stenberg Takes Moto X 'Best Whip' Silver; Teammate Josh Hansen Lands the Bronze at X Games Austin 2014

June 7, 2014, 1:32 am
$
0
0
Jeremy Stenberg and Josh Hansen took silver and bronze tonight at the Moto X Best Whip Competition at the X Games Austin 2014.

Austin, Texas (PRWEB) June 07, 2014

As the winningest rider in the history of the X Games Moto X Best Whip competition, Monster Energy’s Jeremy “Twitch” Stenberg is a perennial favorite in the event. His Monster Energy teammate Josh Hansen isn’t exactly a stranger to Best Whip, either. Hansen has won multiple gold medals himself, including the Gold in Best Whip at last summer’s X Games Los Angeles.

However, past success doesn’t determine future success. X Games Moto X Best Whip is the only Moto X discipline at the X Games that’s not judged by expert judges, but is instead judged by fans via Twitter. And because the fans are the judges, the only real rule in Best Whip is that the trick has to be a whip, and not some other sort of freestyle trick.

The wild card in Best Whip at X Games Austin was Tom Parsons, though. Parsons came out of relative obscurity to defeat Stenberg and Hansen in the “Biggest Whip” contest at the 2013 Monster Energy Cup in Las Vegas, and that victory landed him a spot in Best Whip.

At just after 7 p.m. local time, the Best Whip final got going at Austin’s Circuit of the Americas, with Stenberg, Hansen, Parsons, Lance Coury, Vicki Golden and Beau Bamburg.

As a rookie, Parsons started the 5-minute competition out, while the top three from X Games Los Angeles – Golden, Stenberg and Hansen – went fourth, fifth and sixth.

After one minute, the results began to be tabulated, and right away, the top three were set. Throughout the competition, as the competitors threw their best turn-downs, classic whips, and off-axis whips, in both directions, Parsons maintained the lead the entire time, finishing with 33% of the vote, while Stenberg ended up second with 23% over Hansen with 18%.

It was Stenberg’s 12th X Games medal, and his fourth Silver medal. For Hansen, it was his eighth X Games medal, and his fourth Bronze.

For more on Jeremy “Twitch” Stenberg and Josh Hansen, as well as the first-ever X Games Austin, including exclusive photos and daily recaps, check out http://www.monsterenergy.com or http://www.monsterenergy.com/facebook/.

For more information, interview or photo requests contact Kim Dresser.

About Monster Beverage Corporation:
Based in Corona, California, Monster Beverage Corporation is the leading marketer and distributor of energy drinks and alternative beverages. Refusing to acknowledge the traditional, Monster Beverage Corporation supports the scene and sport. Whether motocross, off-road, NASCAR, BMX, surf, snowboard, ski, skateboard, or the rock and roll lifestyle, Monster is a brand that believes in authenticity and the core of what its sports, athletes and musicians represent. More than a drink, it’s the way of life lived by athletes, sports, bands, believers and fans. See more about Monster Beverage Corporation including all of its drinks at http://www.monsterenergy.com. Reported by PRWeb 6 hours ago.
↧
↧

Explorer Software to Showcase its Award Winning Construction Management Software at CFMA 2014

June 7, 2014, 5:03 am
$
0
0
Explorer Software Group will be showcasing its flagship product, Contract Manager Version 7 at CFMA’s Annual Conference and Exhibition in Las Vegas, June 7-11.

Vancouver, BC (PRWEB) June 07, 2014

Explorer Software Group will be showcasing its flagship product, Contract Manager Version 7 at CFMA’s Annual Conference and Exhibition in Las Vegas, June 7-11. Contract Manager is a robust job cost accounting solution that is functionally rich, scalable and intuitive. It was designed to handle the complex and evolving needs of the construction industry including the heavy highway, specialty, service, general contractor and homebuilder markets.

During the Exhibition, visitors to Explorer’s booth 524 will be able to see a live demo of the powerful new features in Contract Manager, including its slick web application, Project+, a remote data capture solution which allows users to collect employee time, equipment usage and production on a tablet and transmit the data directly to the office.

Explorer Software will also be participating in CFMA’s Construction Technology Forum, Sunday, June 8 from 12:00pm to 2:00pm, where customers will have an opportunity to learn about Explorer’s long term strategies and see new enhancements first hand.

For over 30 years, construction professionals across North American have recognized CFMA’s Annual Conference and Exhibition as a premier source of information for construction financial professionals. Last year, it attracted over 1200 attendees.

About CFMA
Founded in 1981, CFMA is the only organization dedicated to bringing together construction financial professionals and those partners serving their unique needs. CFMA serves more than 6600 members via 88 chapters located throughout the US and Canada. Visit http://www.cfma.org for more information.

About Explorer Software Group
Explorer Software Group (http://www.explorer-software.com) is the leading provider of enterprise software solutions for the construction industry, offering a broad range of solutions for small, mid-sized and large enterprises worldwide. Explorer's construction-specific solutions offer rich functionality, a full application suite and best-in-class customization abilities. The software and services are designed to produce meaningful increases in revenues and margins to contractors. Reported by PRWeb 2 hours ago.
↧

Judge puts Casey Kasem’s daughter in charge of her father’s care

June 7, 2014, 7:02 am
$
0
0
Oct. 27, 2003. Casey Kasem accepts a radio icon award during the Radio Music Awards in Las Vegas.The Associated Press

A Washington state judge …

via Emag.co.uk Reported by Musicrooms.net 29 minutes ago.
↧

Eva Longoria's Las Vegas Steakhouse Wasn't Closed for Health Violations!

June 7, 2014, 7:21 am
$
0
0
Eva Longoria's Las Vegas Steakhouse Wasn't Closed for Health Violations! Eva Longoria is pretty in pink while picking up some snacks at a gas station on Friday (June 6) in Los Angeles. The day before, the 39-year-old actress showed off her toned legs in a white dress while hitting the red carpet at 2014 AFI Life Achivement Award: A Tribute to Jane Fonda with former [...] Reported by Just Jared 10 minutes ago.
↧
Search

The Decline, Fall, and Rise of the Mecca of Boxing, Madison Square Garden

June 7, 2014, 8:39 am
$
0
0
NEW YORK—Madison Square Garden plays host tonight to a pay-per-view middleweight championship bout between titlist Sergio Martinez and challenger Miguel Cotto.  

More so than the aging boxers, the venerable venue appears less about now than nostalgia. The Garden supplied the grand stage for legendary clashes between Muhammad Ali and Joe Frazier, Sugar Ray Robinson and Jake LaMotta, Ken Buchanan and Roberto Duran, and Joe Louis and Rocky Marciano. At Friday’s weigh-in Michael Buffer announced the combatants but not before announcing the battlefield, “The world’s most famous, the mecca of boxing…Madison...Square...Garden!”

 

Walking around the arena, history encroaches on the amnesiac present in the signs for Joe Louis Plaza, the surrounding area that celebrates a heavyweight champion who fought in New York City 26 times, including a dozen scraps at the old MSG. His lineal predecessor John L. Sullivan bare-knuckle brawled at a still older incarnation of the public space. Madison Square Garden played so central a role in the rise of the sport that it—through the New York State Athletic Commission—and not an alphabet soup of sanctioning bodies, once determined world champions. It was a simpler, better time for boxing when Madison Square Garden reigned as the undisputed champion of great fights.    

But Las Vegas, Atlantic City, and other casino capitals now eclipse the Big Apple when it comes to attracting big fights. Just four of the 443 career matches fought by the Ring magazine’s current top-ten pound-for-pound boxers took place inside Madison Square Garden. Sergio Martinez, who fights again in the Garden on Saturday, defended his title against Irishman Matthew Macklin in 2012. Wladimir Klitschko notched uneventful victories over Sultan Ibragimov in 2008 (UD12), Calvin Brock in 2006 (TKO7), and David Bostice in 2000 (TKO2) inside the fabled arena. But the eight others listed on Ring’s top ten have not stepped foot in a ring inside the legendary building. Manny Pacquiao, Floyd Mayweather, and Andre Ward—the best boxers in the world—have never exchanged leather at the world’s best-known boxing backdrop.

Edwin Rodriguez, a 24-1 contender in the 168-pound division, tells Breitbart Sports that he felt the aura of the arena when he bested Don George in the Garden in 2012. “It was definitely special just knowing the history that Madison Square Garden has,” Rodriguez reflects on his 2012 unanimous decision victory in the storied hall. “It was the feeling of fighting for something big, like a world title. You’re at a place where a lot of fighters made history.”

Rodriguez offers that since casinos attract money and people on their own without the lure of a sporting event, they possess advantages in hosting big fights over standard city sports-arenas. “I think the casino has a fee that they pay out to the promoters,” Rodriguez tells Breitbart Sports. “So, it’s a win-win situation. The casinos do the promotion.”

The rise of the casinos precipitated the decline of the Garden as a fight mecca. So did the rise of mixed-martial arts (MMA). “It’s absolutely happening and legal in forty-nine out of the fifty states,” UFC chief operating officer Lawrence Epstein tells Breitbart Sports of MMA. “New York is the only state where this isn’t happening.” So when native sons Jon Jones, Rashad Evans, and Chris Weidman compete, they do so outside of the borders of the state that outlaws their popular profession.

How can a place retain the mantle of “Fight Capitol of the World” when it bans one of the world’s most popular forms of fighting?

“There’s a lot of pride that comes along with being the ‘Fight Capitol of the World,’” Long Islander and UFC middleweight champion Chris Weidman tells Breitbart Sports. “New York has been deprived of some great entertainment and the economic impact. It would be absolutely huge to have mixed-martial arts in New York.” Weidman, as he did in his last two fights, competes in the MGM Grand Arena in Las Vegas for his July 5 title defense against Lyoto Machida at UFC 175. 

Other factors in the Garden losing the game to reign over the fight game include increased competition for limited MSG dates, boxing’s inability (save for a few top fighters) to fill seats, a growing cultural aversion to the sport’s brutality (especially as urban enclaves become more posh and less blue collar), the expense of reserving space in Manhattan’s most vaunted venue, and a much wider array of diversions captivating New Yorkers than did fifty or a hundred years ago.  

“Madison Square Garden has a history like no other arena in the United States or the world,” the UFC’s Epstein explains. “That name ‘Madison Square Garden’ means something to everyone in the fight game. I was lucky enough to see Evander Holyfield-Lennox Lewis in the Garden. The energy that night it was special.”  

The energy for Cotto-Martinez, if Friday’s weigh-in foreshadows, could light up Times Square. In bringing together two of the elite practitioners of the sweet science—and a pair of pugilists attracting intense ethnic loyalty (particularly for Cotto on the weekend of the Puerto Rican Day Parade)—the main event revives the formula that made Madison Square Garden a focal point for prizefighting pilgrimages. In doing so, boxing has laid a path to go back to the future. Reported by Breitbart 1 day ago.
↧
↧

Las Vegas tries new tactic to improve city's notorious healthcare

June 7, 2014, 8:38 am
$
0
0
Teresa Garcia, weak and in pain, had all but given up on doctors when she came to a small clinic next to a former wedding chapel on the Strip. Reported by L.A. Times 1 day ago.
↧

Bigamist Duke Alex Montagu in trouble again for no-show in Las Vegas court

June 7, 2014, 10:07 am
$
0
0
A warrant has been issued for the arrest of the Australian-born 13th Duke of Manchester. Reported by The Age 22 hours ago.
↧

FOX Fantasy Picks: Pocono 400

June 7, 2014, 11:49 am
$
0
0
FOX Fantasy Picks: Pocono 400 Get your FOX Fantasy Auto Racing rosters set for Sunday's race at Pocono Raceway and see how our picks match up with Las Vegas odds.  Reported by FOX Sports 20 hours ago.
↧

Six Cities Bidding To Host The Democratic National Convention In 2016

June 7, 2014, 12:29 pm
$
0
0
The Democratic National Committee announced on Saturday that six cities are bidding to host the party's convention in 2016: Birmingham, Ala., Cleveland, Ohio, Columbus, Ohio, New York, N.Y., Philadelphia, Pa., and Phoenix.

“Hosting a party convention is a true honor and we’re thrilled with all the fantastic options that we have going into the next cycle,” said Debbie Wasserman Schultz. “We look forward to evaluating these bids and selecting a city to host this special gathering of Democrats.”

Party officials will review the bids in the coming months and a final decision will be announced in "late 2014 or early 2015."

The New York Times reported on Friday that New York City Mayor Bill de Blasio is aiming to bring the convention to the borough of Brooklyn and the venue of Barclays Center.

Republicans are weighing bids from Cleveland, Ohio, Dallas, Texas, Denver, Co., and Kansas City, Kansas. Las Vegas, Nev., and Cincinnati, Ohio, withdrew their bids last month. Reported by Huffington Post 20 hours ago.
↧
↧

Embarrassed Danielle Lloyd clarifies footage of husband intervening as she fights with fellow holiday-makers

June 7, 2014, 7:30 pm
$
0
0
Embarrassed Danielle Lloyd clarifies footage of husband intervening as she fights with fellow holiday-makers She isn't known for being the most lady-like former glamour model. But Danielle Lloyd displayed some coarse behaviour as she celebrated her thirtieth birthday Las Vegas on Saturday. Recorded on video, it first appears that the Liverpudlian is fighting with her husband, footballer Jamie O'Hara, but it soon transpires that he's actually intervening in her expletive-laden spat with fellow holiday-makers. Reported by MailOnline 13 hours ago.
↧

Britney Spears Dad Fights For More Conservatorship Cash Msn

June 7, 2014, 7:39 pm
$
0
0
Britney Spears Dad Fights For More Conservatorship Cash Msn Britney Spears Dad Fights For More Conservatorship Cash Msn---Music star in fight with dad over money demand, Britney Spears' dad has requested more money to deal with his daughter's estate matters.Jamie Spears has petitioned a court in Los Angeles asking for more money as compensation for serving as his daughter's conservator.

According to the court papers, which have been obtained by InTouch magazine, he is currently paid a $16,000 (&163;10,000) allowance every month and receives $2,000 (&163;1,250)-a-month to help him pay for an office space that allows him to carry out his duties as his daughter's money manager.

He is now requesting extra cash after taking on new roles and costs linked to Britney's Las Vegas shows.

Jamie has served as Britney's conservator since 2008, when he was awarded control of her estate after his daughter was hospitalised following a breakdown.

Video: Britney Spears' Father Asks Conservatorship Judge For More Money

Source Reported by News24by7 13 hours ago.
↧
Search

Struggling d'Arnaud optioned to Las Vegas

June 8, 2014, 12:49 am
$
0
0
Hoping to re-ignite their catcher of the future, the Mets on Saturday optioned Travis d'Arnaud to Triple-A Las Vegas, selecting the contract of Taylor Teagarden. Reported by MLB.com 7 hours ago.
↧

Mets demote struggling Travis d’Arnaud

June 8, 2014, 12:39 am
$
0
0
SAN FRANCISCO — Travis d’Arnaud will have to work out his hitting troubles in the minor leagues. The rookie catcher was optioned to Triple-A Las Vegas following the Mets’ 5-4... Reported by NY Post 8 hours ago.
↧
↧

Michael Jackson’s kids burning through $8M a year

June 8, 2014, 1:35 am
$
0
0
On a hot, lazy Las Vegas day, Michael Jackson’s eyes were glued to a catalog as he shopped from his hotel room for mundane but expensive trinkets such as Rolex... Reported by NY Post 7 hours ago.
↧

CFMA Gets Underway in Las Vegas; FieldConnect to Present Workforce Mobility Solutions to Financial Managers in the Construction Industry

June 8, 2014, 3:12 am
$
0
0
FieldConnect is attending the Construction Financial Management Association (CFMA) Annual Conference, showcasing mobile workforce solutions for the construction industry.

Las Vegas, NV (PRWEB) June 08, 2014

Executives from FieldConnect, Inc., a longtime mobility solutions innovator, are in Las Vegas this weekend kicking off the Construction Financial Management Association's (CFMA) Annual Conference.

The CFMA Annual Conference features roundtable discussions, mini-conferences, and forums that facilitate the sharing of best practices, networking, and education.

FieldConnect provides an end-to-end workforce mobility platform that integrates directly with several accounting systems popular in the construction industry, including Microsoft Dynamics (AX, GP, NAV, SL), Sage 300 Construction & Real Estate and Sage 300 Trade Specialty (formerly Sage Timberline), and Viewpoint Construction Software's Viewpoint V6. Both Sage and Viewpoint are Annual Conference sponsors.

For service organizations, integration with the back-office accounting system means automation of the "last mile" in field service, between field technicians, customers, and the back office, resulting in an immediate boost in revenue and cash flow, driven by greater productivity and speedier billing.

The FieldConnect mobile workforce platform consists of:·     FieldAccess™ mobile electronic work order and time card software
·     FieldDispatch™ web-based, drag-and-drop calendaring tools
·     FieldDirect™ customer self-service call creation portals
·     FieldQuotes™ revenue-boosting remote quoting software
·     FieldLocator™ device-based GPS tracking
·     FieldProject™ time and expense tracking

For more information on FieldConnect solutions, visit http://www.fieldconnect.com.

About FieldConnect
FieldConnect enables organizations to leverage the power of mobility to enhance customer and employee engagement, providing anytime, anywhere access to information and resources. The FieldConnect workforce mobility platform extends the functionality of Microsoft Dynamics AX, GP, SL, and NAV, Sage 300 Construction and Real Estate and Sage 300 Trade Specialty (formerly Sage Timberline), and Viewpoint Construction Software’s Viewpoint V6. FieldConnect is a privately held enterprise based in Irvine, California and has been innovating and deploying mobility solutions since 2002.

http://www.fieldconnect.com Reported by PRWeb 5 hours ago.
↧

Detroit rolls dice by relying on casino cash

June 8, 2014, 5:07 am
$
0
0
Detroit's reliance on casino cash to help fund a recovery from the city's historic bankruptcy is a high-risk bet on what is an increasingly shaky source of income. A trial to approve Detroit's plan to exit its $18 billion bankruptcy, the largest municipal crash in U.S. history, begins in late July. Flawed revenue projections may undermine its feasibility, creating a key legal hurdle to win approval by the court. On a practical level, a revenue shortfall could knock the city down just as it is getting back on its feet.

Detroit Emergency Manager Kevyn Orr projects that wagering tax revenue from three local casinos, the city's third largest source of cash, will remain essentially steady as far ahead as 2023. Orr has described the gambling taxes as Detroit's most stable source of money. But casino revenue has declined of late in Detroit itself and in recent years traditional gambling hubs like Nevada and New Jersey as well as relative newcomers to the wagering scene, such as neighboring Ohio, have seen swoons.

"Projecting casino revenue is notoriously difficult," Moody's Investors Service casino analyst Keith Foley said. "But nobody is saying it is going to get better." For instance, casino revenue from Atlantic City has roughly halved since 2007, a drop no one saw coming, Foley said. Total U.S. casino revenue in 2012 was still just shy of a 10-year peak of $37.5 billion set in 2007, according to the American Gaming Association.

A litany of factors stack up against Orr's forecast, industry analysts and experts say: younger people show little interest in gambling, the casino market is saturated, and thousands of local residents are likely to see their wages drop due to the bankruptcy plan. Bill Nowling, a spokesman for Orr, says the casino tax projection is conservative and was calculated by Detroit's financial restructuring advisors, Ernst & Young. He said the calculations were also based on anticipated Michigan unemployment rates "continuing to improve and inflation to hold at or below 1 % annually."

He declined to elaborate on projections but said if they were too high, Detroit "will live within its means and will match spending with available revenue." The casino revenue has already been the subject of legal wrangling in the bankruptcy. In April, the bankruptcy judge approved a deal brokered by Orr that kept the casino revenue from being diverted to two creditor banks.

In fiscal year 2013, casino taxes brought in $174.6 million, down 3.7 % from $181.4 million the year before, according to Orr's latest plan of adjustment filed in May. That was nearly 17 % of Detroit's general fund revenues, with only income taxes and state funds larger revenue sources. Orr's plan predicts it will continue to drop to just over $168 million in 2015, then recover to its 2012 level by 2023, at a growth rate of 1 % a year from 2016 until 2023.

But just a 1 % annual downturn in wagering taxes after 2016 would lead to a more than $25 million shortfall in 2023 alone, according to calculations by Reuters. Overall, revenue at the three casinos fell 4.75 % in 2013. The decline has continued so far this year, with revenue over the first four months falling more than 6 % from a year earlier.

"Obviously they are going to have to justify this projection at trial," said Richard Larkin, director of credit analysis at investment bank HJ Sims. "Casino revenue is not a traditional, long-term revenue source." A flaw in projecting casino revenue "could signal far deeper problems with city's plan of adjustment and the city's intended plans for recovery," said Peter Hammer, a law professor at Detroit's Wayne State University.

"It decreases substantially the confidence you have about the viability of the rest of the plan, which involves much more complicated issues," Hammer said. Moody's Foley has a similar concern about the casinos: "What if Detroit has another 5 % decline next year? Then their budget is already way off track."

After all, Detroit is not alone in seeing a fall off in casino revenue. It is down in Illinois, Indiana, Iowa, Nevada, Pennsylvania, Missouri, Connecticut, Atlantic City and Ohio in the past two years, according to figures from each state. Analysts and backers of Orr's projections say there are factors that might mitigate a slide in Detroit's casino revenue, compared to other areas. State law allows only three gambling houses in the city, a cushion against more competition. The city is the most convenient gambling center for southeast Michigan, northeastern Indiana and northwest Ohio.

Jennifer Kulczycki, a spokeswoman for the company that owns one of the city's casinos, Greektown, said that while revenue had softened, "we are optimistic for things to return to previous levels - and then some. The Detroit market is 14 years old and it has been very resistant." A central issue is whether these declines are temporary or permanent.

In an April report, Moody's Foley warned that Detroit's bankruptcy threatens a reduction in gambling spending because city employees face lower pensions and retiree health benefits under Orr's restructuring plan. The city is Detroit's second biggest employer, according to Crain's Detroit Business. Demographics are also a worry, said Alex Calderone, a business turnaround specialist based in Michigan, who was part of the team that took the city's Greektown Casino-Hotel through bankruptcy between 2008 and 2010. Greektown is up and running under a new owner - Dan Gilbert, the founder and CEO of Quicken Loans, who is investing heavily in downtown Detroit.

Standing in the casino, surrounded by the cacophony of slot machines and clouds of cigarette smoke, Calderone asked: "Where are the young people?" There is no replacement for the predominately older age group who gamble, he said. "Young people have little inclination to play slot machines," according to a recent analysis by Deutsche Bank. It cited research by the Meczka consulting group, which said only 18 % of people aged between 21 and 35 visit casinos.

Experts also look to Las Vegas as a leading indicator in gambling behavior. According to the Center for Business and Economic Research at the University of Nevada, more people now visit the Vegas strip to eat and go night clubbing than gamble. But Detroit is not Vegas. Casino-hotels on the Vegas strip such as Caesar's Palace and Wynn Las Vegas have spectacular nightly shows, and high-end bars, restaurants and shops. Moreover, Detroit's casino tax is based on gambling revenue alone.

While Detroit's biggest casino, MGM Grand Detroit, part of MGM Resorts International, would not look out of place among the glass and marble casinos of the Vegas strip, it and the nearby MotorCity sit in a virtual urban desert. Their surroundings are bleak - a far cry from glitzy - and perpetually warm - Las Vegas. Last year revenues fell 6.3 % at the MGM and 1.2 % at MotorCity, and have continued to drop this year. Greektown's revenue fell more: from $352.1 million to $328.3 million, or 6.8 %.

In contrast to its larger two rivals, Greektown is in need of a makeover. Its carpets are old, its facilities drab. But plans for a full face lift have been scaled back. According to a February filing with the Securities and Exchange Commission, Gilbert's company that owns Greektown, Athens Acquisitions LLC, said a planned $150 million renovation had been cut back to a $25 million to $50 million refurbishment.

"In a casino that's basically just changing the carpet," said Ken Adams, a gaming consultant.

(Reporting by Tim Reid; Editing by Dan Burns and Peter Henderson)

ReportWorldReuterscasinoDetroitGamblingSunday, 8 June 2014 - 4:38pm
Stock ImageGetty Images
dnai.in/cePv Reported by DNA 3 hours ago.
↧
Viewing all 39581 articles
Browse latest View live
Search
<script src="https://jsc.adskeeper.com/r/s/rssing.com.1596347.js" async> </script>