Tuesday, 15 November 2011

Las Vegas hotel failing to attract gamblers

One of Las Vegas' newest hotels is said to be struggling for a fundamental reason - its lack of gamblers. The $3.6bn Cosmopolitan Hotel has reported a loss of $58.4 million in the third quarter of the year.

Hotel revenue for the Cosmopolitan Hotel during the third quarter was $49.3 million, food and beverage revenue at $68.9 million and gambling revenue stood at a figure of just $23.8 million. The issue with the gambling revenue lies in its 'hold percentage' or the amount it makes from gamblers which stood at 7.6%. This figure lies well below industry norms and projections of between 12-15%. The Cosmopolitan hopes that its new areas for high rollers 'The Talon Club' will reverse these figures and provide income on a similar level to other hotels on the strip.

Further reasons for the third quarter loss include costs attributed to promotion of the new property in a highly competitive market during the recession.

Tired of passport control? You better go by private jet

The saga involving Home Secretary Theresa May continues to rumble on as leaked emails have shown that thousands of passengers travelling by private jet were allowed into the UK without going through immigration or customs.

The emails also reveal the selectivity of the checks as staff were given a list of postcodes to check against every new passport application or renewal. The applicants who lived in 'higher risk' areas face several weeks additional delay to receive their passports. The only areas in London not deemed to be at risk are postcodes that begin with WC and EC, the most central and prosperous areas in the city. Emails also show that women over 50 are deemed to be less risk.

In addition to this leaked emails have shown that from March 2 2011 anyone on a private charter did not have to show their passports and could bypass customs. Figures estimated there to be approximately 80,000 private flights each year.

The Home Office refused to comment on the pilot scheme last night. What do you think? Is this common sense or a policy that is dangerous to national security?