Fremont Street Draws More Tourists and More Cops

Fremont Street Draws More Tourists and More Cops

The popularity that is growing of Vegas’ downtown Fremont Street area has required more police presence also. (Image: lasvegastours.onboardtours.com)

As Las Vegas continues to jump back through the downturn in the economy, with the Strip posting its fifth annual revenue boost in a row, Sin City’s Fremont Street area downtown is experiencing a renaissance as well. In fact, the regeneration that is recent of Street and its environs is attracting plenty visitors, Metro Police are being forced to rethink how they police the complete city of Las Vegas.

‘ We had been really focused on nevada Boulevard [the Strip] for several years because that’s where we had been seeing the infusion of men and women,’ Sheriff Doug Gillespie told Metro’s Fiscal Affairs Committee this week. ‘ nevertheless the dynamics have actually changed downtown. Now a whole lot more individuals are attempting to come downtown on a more regular foundation.’

It isn’t just that the individuals are coming there in droves; the nature that is very of tourism has changed, too. While the area surrounding ‘Glitter Gulch,’ as it used to be understood back in Elvis’s day, was once a small rough across the sides, it is now being a hub of art and culture. Bail bondsmen and pawnbrokers have already been at the very least somewhat changed with galleries and vintage clothing shops, as well pubs, clubs and restaurants.

Millennials Descend

This means, simply speaking, folks Continue reading “Fremont Street Draws More Tourists and More Cops”

Revel and Showboat Close in Atlantic City Over Work Day

Revel and Showboat Close in Atlantic City Over Work Day

The Showboat and Revel Casinos in Atlantic City shut their doorways for the final time over Labor Day week-end. (Image: CapitalOTC.com)

It was the finish of the road for Revel and Showboat this weekend while the two Atlantic City casinos closed their doors for good. For casinos in this seaside resort town, Labor Day is generally a time that is celebratory of year. The standard ‘end of summer’ in the usa, the three-day weekend must certanly be a booming time for the newest Jersey gambling hub, as both gamblers and tourists will come to savor a three-day week-end and some beach weather that is great.

However for these two casinos within the beleaguered city, this year’s Labor Day week-end marked the curtain that is final. The Showboat Casino ended a run that is 27-year Atlantic City on Sunday, while the Revel began their two-day shutdown on Monday. The two closures will bring the amount of gambling enterprises in the city right down to nine, a number that will drop to eight whenever Trump Plaza resort closes later this month.

Showboat Closed Despite Remaining Successful

The Showboat Casino Hotel was one of four casinos in Atlantic City owned by Caesars Entertainment (Bally’s Atlantic City, Caesars Atlantic City and Harrah’s Resort Atlantic City being the other three), and for the company, that was just one too many in the market that is shrinking. They hope that closing one casino shall benefit the remaining three. Continue reading “Revel and Showboat Close in Atlantic City Over Work Day”

Caesars at War with Investors Over $24 Billion Debt

Caesars at War with Investors Over $24 Billion Debt

Caesars CEO Gary Loveman says his business shall perhaps not be held hostage by speculators.

The battle between Caesars Entertainment as well as its bondholders was ramped up a notch this week as the casino giant filed a lawsuit against a large percentage of its investors, claiming they have been wanting to impede the company’s efforts to restructure its financial obligation process, a procedure that is important to avoid bankruptcy.

Despite being the best-known casino business in the world, Caesars’ long-lasting financial obligation is colossal, standing at an industry all-time high of $23 billion, which outstrips the bankrupt city of Detroit. In-may, the organization announced a means of financial obligation restructuring, which, while not eliminating any long-term debt, would wipe out more than $1 billion of payments due in 2015.

The process, according to Caesars Chairman and CEO Gary Loveman, would ‘lay the inspiration for both significant de-leveraging and value creation at Caesars Entertainment.’

Provide Us Your Ears…and Everything Else

‘Upon completion of the credit facility amendment … Caesars will have added headroom under its upkeep covenant, providing Caesars with additional stability to execute its company plan,’ he added. ‘If Caesars successfully lists its equity securities, this separate listing should help facilitate the eventual raising of equity along with obligation administration and financial Continue reading “Caesars at War with Investors Over $24 Billion Debt”