Inside Asian Gaming

May 2008 | INSIDE ASIAN GAMING 43 Briefs the planning stage to breaking ground. “It takes years to get a design completed,”said Chairman and CEO Frank Fertitta III.“Point of fact is we’re going to be in a position where CityCenter is going to be open. We’re going to have some visibility on how they’re doing before a project like this is even going to be in the ground.” Station Casinos’ planning on the project comes while other projects such as Crown Las Vegas, Cosmopolitan and Tropicana, being led by newcomers to the market, have met financial trouble. However, Deutsche Bank gaming analyst Bill Lerner said Station should have little trouble raising capital because of its reputation. “When you have land and you have expertise, money will follow,” Lerner said.“The good news is they don’t have to raise the capital for it right now. The credit market will work itself out over a period of time.” Lerner also noted that Station’s new status as a private company could help immunize the project from financial market turmoil. “If they were public when this was announced, it is a project Wall Street would have taken exception to,” Lerner said.“It is outside of what is viewed to be their core locals market niche.” Station Casinos went private after a US$5.4 billion buyout closed in November.The company is now owned by a partnership between the Fertittas and Los Angeles-based real estate investment firm Colony Capital. Station Casinos has other plans in the works, and is set to open the US$675 million Aliante Station in North Las Vegas by the end of the year, and will soon break ground on another Vegas project. The company owns and operates nine hotel-casinos and is a joint-venture partner on another. It also owns and operates three stand-alone casinos, co-owns two stand-alone casinos and manages an American Indian casino outside Sacramento, Calif. Mobile Gaming Trial at Venetian Vegas After years of research and design and regulatory approvals, the first field-trial of a mobile gaming device in Las Vegas is being carried out at the Venetian.The handled device, encased in hard rubber with a touch-sensitive screen,allows gamblers to place bets while walking around the casino. The device is manufactured by Cantor Gaming, a leader in the mobile gaming industry. Cantor began developing the device for the USmarket five years ago,and helped push through the bill inNevada’s Legislature in 2005 to legalise mobile gaming devices.Cantor worked with regulators for two years to craft regulations, investing tens of millions of dollars in research and development. During the three-month field trial of the device,low-limit bets will occur under the supervision of the Nevada Gaming Control Board. If the technology works as expected, the Venetian and other Nevada casinos will be allowed to enable the devices in all public areas, such as convention centers, shopping malls, restaurants and the pool. However, players will not be allowed to use the devices outside the casino’s property, and hotel rooms will be off-limits. Cantor Gaming, a subsidiary of the global bond trading giant Cantor Fitzgerald, is the developer of a successful mobile financial trading platform with minimal transaction fees. The mobile casino gaming platform offers basic strategy recommendations, such as which poker hands to hold and discard. Harrah’s to Assume Caesars Title Nearly three years after spending US$9 billion to acquire rival casino operator Caesars Entertainment, Harrah’s Entertainment announced it plans to change its name to Caesars Entertainment Corp.The switch requires regulatory approval in the states where the company operates casinos. The Harrah’s name will be retained, however, becoming one of the company’s three primary casino brands, along with Caesars and Horseshoe. In June 2005, Harrah’s completed a buyout of Caesars, which at the time was the largest gaming industry merger and created the world’s largest casino operator. Harrah’s was founded more than 70 years ago in Reno as a small bingo parlor by gaming figure Bill Harrah. The name has long been associated with middle-market gamblers. The Caesars name is more upmarket and associated with high-rollers. The Caesars name is on three Harrah’s-owned casinos, in Las Vegas, Atlantic City and Indiana. “Adoption of the name Caesars Entertainment will provide our company with greater prestige and help attract strategic business partners as we pursue expansion opportunities in new jurisdictions,” said CEO Gary Loveman said. However, in recent weeks Harrah’s withdrew from potential hotel-casino projects in the Bahamas and Slovenia. Harrah’s has more than 50 casinos worldwide and over 87,000 employees. In Las Vegas, Harrah’s operates the iconic Caesars Palace (the lobby is pictured here), Bally’s, Paris Las Vegas, Flamingo, Harrah’s Las Vegas, Imperial Palace, Bill’s Gamblin’ Hall and the Rio. The name change will mark thesecondtimeCaesarshasbeen adopted by a casino company. In 2004, Park Place Entertainment, which had acquired Caesars Palace,took on the name Caesars Entertainment. Palace Station Hotel & Casino