| Gambling News!
|
|
Back
|
|
Regulators allow private casinos
|
2004-01-06
|
|
The three prestige casinos known by the name "International gaming salons" were packed with players at the last three months of 2004.
The place was crowded with both professional and beginner gamblers and as reported by state regulators, those casinos have won about $4 million since their grand opening at the MGM Grand.
It is not a small amount, but it if measuring it in casino benefits and if taking into consideration the amount invested in re-designing those rooms into private casinos�it is not so profitable.
The reason for the attraction of gamblers from all across the country has to be the private betting option the casino provides, after receiving the authorization to offer this service in the year 2001 from the state of Nevada.
The winnings came from five customer visits to the rooms at the MGM Grand, Caesars Palace and Mandalay Bay in December 2002, January and February 2003.
Turns out that those private casinos were open for the crowd even before the re-design, in a different approach which kept the doors open and the public allowed coming in and playing, mainly Baccarat, though the state's international gaming salon numbers report only gambling done in private.
Las Vegas Advisor publisher and casino gambling expert Anthony Curtis believes that even though the casino is not gaining so much money at the moment, it will do so in the next couple of years.
"On the whole it's still an advantage for the casinos to be capable to suggest private gaming, even if it's been a big old collapse to date."
He added that the restrictions in Nevada are so tight that it had put a limit on betting in private rooms.
The "Barona Valley Ranch casino" near San Diego, for instance, has two private casinos, each with private garages that are legal.
"I would bet that the red tape is responsible," Curtis surmised. "You have to estimate the casinos as a depressed play in the rooms except under the most optimal circumstances. Here, they have to jump up high." MGM Mirage spokesman Alan Feldman said the private casino areas are not dedicated rooms that were built only as international gaming salons. "These spaces are used repeatedly and frequently," Feldman said. "This was about closing an option of existing room.
It's an optimistic, and needed, amenity to have."
The state law has approved gambling to be open for the public in the year 1931.
In the year 2001 the senate has approved a ne3w bill which allowed the regulators to stop the casinos from opening private gaming areas inside the casinos and Gov. Kenny Guinn signed the measure.
Those rules have been allowed, signed and approved by the
Nevada Gaming Commission for the international gaming salons to have $450,000 in cash, credit line or a mixture of the two.
The games start at least at a bet of $500 and up by the rules of 2002.
MGM Grand's came in July, Caesars Palace's in September and Mandalay Bay's in December 2002. Who will be next? we'll keep you all updated....
|
|
(By Liat)
|
|
|
|
