February 21, 2007

Vegas Wants an NBA Team

It seems that Las Vegas is pushing very hard to add to its sports venues. And while the NBA All-Stars game was just held there, It will be an uphill battle for the fast-growing city to land a permanant team.

The odds, however, that the NBA or any other league will soon come to Las Vegas for more than just a vacation — through relocation or expansion — are low. For now.

David Stern, the NBA commissioner, has made "integrity of the game" his battle cry and says that local gambling on the league, though regulated, would violate that tenet. He maintains that casinos must take all NBA games off their oddsmakers' books before Las Vegas could be a viable site.

"There's only one stumbling block," Stern said in a recent interview, referring to the betting on NBA games. "It has to be off the books for consideration. It is that, more than any other issue."

We are pulling for you Vegas, we'd love to be able to swing in, grab seats at a game, and enjoy yet another form of entertainment in the city that is famous for it.

Read the whole story over at the International Herald Tribune

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February 19, 2007

But What If You Win?

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We all dream of hitting it big in the casino or lottery, but what happens if we actually do? Would we be prepared for the tidal wave of decisions and risks that would accompany a big payout? A little site by Bob Sanford, Certified Financial Planner has some excellent hints for the would-be-winner.

Take a peek:


RULE 1:
Be Prudent.

A $1 million jackpot is not a $1 million prize: You're a thousandaire -- not a millionaire.

Many people are surprised to learn that lottery jackpots are paid over 20 to 25 years and the IRS withholds 28 percent federal income tax from each check. You've won! If, for example, you win $1 million, most states pay you $50,000 a year for 20 years less 28 percent federal withholding tax, leaving you with $36,000 a year. You may also have to pay additional income taxes when you file your retum, depending on your overall financial situation. The problem is that the $36,000 you receive today will only buy an $11,225 lifestyle 20 years from now, when the checks stop. There are no cost-of-living increase provisions for lottery payouts.

A better option for many is to take one lump-sum payment -- if you can get it. Only Arizona, Colorado, Ohio, and Oregon currently offer lump-sum options to new winners, and none to former winners. How much do they pay out? Forty to 50 percent of the jackpot amount. Still, over half of the eligible winners opt for the lump sum -- as well they should.

If you average a 10% return on investment, you can double your money every 7.2 years. In consecutive sets of seven years, $1 becomes $2, $2 becomes $4, and $4 becomes $8. At about the same time that the serial lottery payments would stop forever, you have increased your lump sum by a factor of 8 ($1 becomes $8). By taking a net lump sum today of $300,000 ($500,000 less 40% in taxes) and investing wisely instead of taking the $1 million jackpot in 20 payments (at $50,000 a year), you can have $2.4 million in the bank after 20 years and live off the interest forever. The wisdom of accelerating jackpot payouts is so compelling that our investment group has already helped over 44 lottery winners trade-in all or a portion of their lottery payments for cash-in-hand.


Those are some wise words, and there are plenty more to be had at Bob's little corner of the web.

Russell Miner Permalink | Comments (0) | social bookmarking

February 16, 2007

Casino Cocktail Friday -- North East Winter Storm Edition

Has the big north east ice-out got you down? Don't fight it, just take it as a cue to turn up the fun and turn down the temperature on your weekend out!

Today's Casino Cocktail Friday is not one drink, but a class of drinks. Those drinks served with the flair of Ice! We're not talking about ice *in* the drink, we're talking about the over-the-top ways that ice can be Incorporated into the drink!


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Read on to learn more about ice-drinks and the many creative ways you can try them!

ArrowContinue reading: "Casino Cocktail Friday -- North East Winter Storm Edition"

Russell Miner Permalink | Comments (0) | social bookmarking

February 14, 2007

Love Dice

For the craps lover, who's also your lover, here's a Valentine's Day gift that will keep them from being upset when they lose a roll.

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Leave it to us to bring gambling into a night of romance, these Love Dice are a fun little game you can bring with you anywhere. Extra points if you can play a round while in the elevator at your favorite casino!

From all of us here at Casino Snob, enjoy the company of your loved ones, and have a lovely Valentine's Day!

Russell Miner Permalink | Comments (0) | social bookmarking

February 12, 2007

Stanley Ho Unvails the New Grand Lisboa Casino

As all casino lovers know, Macao is the new Vegas. And in a bid to continue to out-do its western sibling, Macao Billionaire Stanley Ho has unveiled plans for his latest casino, the new Grand Lisboa.

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Thousands queued for a sight of the Grand Lisboa's casino, shaped like a giant neon lotus flower. Dr Ho's new landmark on the waterfront towers over its 1960s predecessor, the original Lisboa, which had been eclipsed by newcomers such as the Sands, the world's biggest casino.

Read more over at the Sydney Morning Herald
Learn about Stanley Ho at Wikipedia

Russell Miner Permalink | Comments (0) | social bookmarking

February 6, 2007

Jack Colton Says: How to Reserve Bottle Service

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Jack Colton, that wise and ever watchful mentor of the Vegas club scene, has some helpful hints for us all on how to properly reserve bottle service at our favorite clubs. If you don't know what bottle service is, you can safely skip this post, and peruse the Casino Snob archives.

Here's what Jack Says:


If you have been looking around on the internet, you have probably seen a million websites trying to get you to book your table through them. You can certainly take that route if you want to, but most industry locals would agree that the best way to reserve a table at a Las Vegas night club is to deal directly with the Las Vegas night club.

...

TIP # 1: The bottle minimum goes up as the number in your party associated with the table goes up. If you have a couple of people in your group who aren’t planning on drinking or splitting the bill, you might have them put on the guest list and tell them to just order from the bar. They can still sit with you at your table, but you might be able to cut down on your bottle minimum. At $300+ per bottle, that can help out a lot.

TIP # 2: If you are splitting the bill for the table with your friends, collect all of the money up front. That would be the total balance including tips. I repeat…GET THE MONEY FIRST. If you end up ordering more bottles, have everyone pay you when you order them. I can’t count the number of times I have seen people fighting about tip share at the end of the night, or never talking to friends again because so-and-so didn’t throw in money when they said they would.

Read all of what Jack has to say about reserving bottle service, and about anything else cool and on the Vegas club scene over at JackColton.com

Russell Miner Permalink | Comments (0) | social bookmarking

February 1, 2007

Vegas, the Furniture Capitol?

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Ok.. not that kind of Furniture.... but a furniture capitol none the less!


LAS VEGAS, Nevada -- The builders of the World Market Center in downtown Las Vegas on Monday announced two more steps toward completing the $3 billion furniture trade center.

The steel frame of the third phase of the eight-building project started rising Tuesday and construction on the fourth building will begin by the end of the year.

The announcements about the future of the project came during the first trade event for Building B of the center, a 16-story, $345 million structure.

The event, called the Winter Las Vegas Trade Market, is expected to surpass the attendance record of 60,000 people set during the World Market Center's inaugural event in July 2005.

Las Vegas Mayor Oscar Goodman welcomed the construction news, saying that Southern Nevada would benefit by gaining a foothold in the growing furniture and household furniture industry.

"We learned a lesson on 9-11 that we could not just be a one-horse town," said Goodman, referring to the downturn in Las Vegas tourism following attacks by terrorists on New York City and Washington, D.C. "We need to have different businesses in our community."


Read more at the Casino City Times

Three Billion seems like alot for a furniture mega-warehouse, but hey.. we just gamble. It seems with Macao becoming the new gambling hot-spot, the good people of Vegas are starting to think of their fall back careers.

By the way, if you like that craps table pictured above, you can see it at Kardwell.com

Russell Miner Permalink | Comments (0) | social bookmarking
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