VEGAS INC Magazine - Latest Las Vegas business news, features and commentaries about gaming, tourism, real estate and more
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In business gaming Want your own mini casino? go to bellagio with $300,000 By Ed Komenda staff writer If you're a player with a preference for privacy and you have a healthy pocketbook, the Bellagio may have the gambling parlor for you. The casino recently opened a private gaming room named Villa Privé. But there's a catch: Access to the 2,600-square-foot salon is by invitation only and reserved for high rollers. The parlor is located far from the Bellagio's main casino floor on the resort's exclusive Villa level. "The customer must be willing to risk $300,000," said Debra Nutton, senior vice president of casino relations. Gaming regulations control private play with strict rules, including the minimum $300,000 and constant surveillance on guests. For those with the cash to play, all it takes is a phone call. Armed with the player's preferences, a staff of butlers gets to work setting up the salon, which is divided into two areas separated by a foyer. Inside, players can chose to eat, gamble or perhaps smoke a cigar on an outdoor patio. If no one calls, the salon stays closed. The private parlor has been used fewer than 30 days since its February debut. earnings Cosmopolitan owner: resort on the 'right trajectory' By Richard N. Velotta senior staff writer The company that operates the Cosmopolitan of Las Vegas narrowed sequential losses despite the smallest quarterly revenue total of the year in the fourth quarter that ended Dec. 31. Nevada Property 1 LLC, the Deutsche Bank subsidiary that operates the 3,000room Strip resort, reported earnings March 29 in a Securities and Exchange Commission filing. For the quarter, the company reported a net loss of $30 million on net revenue of $141 million. That compares with income of $72.6 million on net revenue of $120.9 million in the fourth quarter of 2011. For the year, the company posted a net loss of $106.6 million on net revenue of $595.2 million compared with a net loss of $97 million on net revenue of $478.6 million in 2011. For the year, the company increased net revenue by 24.3 percent. The company also reported an average daily room rate of $259, well above the $108 Southern Nevada average, and an occupancy rate of 85.6 percent for the year. "We believe our corporate strategy has put us on the right trajectory, as demonstrated by our occupancy, room rates and overall performance," said Amy Rossetti, vice president of public relations for the Cosmopolitan. "We are extremely pleased to see our unique approach to the Las Vegas market translate into the strong numbers reflected in our earnings report. Our 2012 financial performance affirms that the Cosmopolitan of Las Vegas brand and guest experience continue to resonate," she said. The company also noted that its Marquee Nightclub & Dayclub was cited as the highest grossing bar in the United States in 2012. | 15 APRIL 2013 20130415_VI11_F.indd 11 | Re: Reinvent Gaming From: Slot Machines To: Gaming Management High rolling can often get your head spinning. But it doesn't always have to be a gamble – especially when you're playing with Konami Gaming. More than just a manufacturer of gaming hardware and software, the company that is "Born from fun TM" delivers huge payouts of innovation and turns risky business , into an investment jackpot. Together with their legal team, Lewis and Roca, Konami is poised to stay on top of its game and the global gaming industry. 11 4/11/13 3:44:01 PM