L.A Studio Owner Keen To Bring The Pan Am Experience To Vegas

L.A Studio Owner Keen To Bring The Pan Am Experience To Vegas

Pan Am ExperienceA Hollywood movie studio owner is looking to bring the recreated experience of travelling on a Pan Am double-decker 747 to the Las Vegas Strip.

Talaat Captan, chief executive officer of studio Air Hollywood stated that he is in discussion with casinos on the Strip to set up a reconstructed 100-seater Pan Am plane as a tourist attraction.

Captan and his partner Anthony Toth have created ‘The Pan Am Experience’ which aims to brings alive the experience of travelling on a Pan Am flight circa 1970s.

The use of authentically styled outfits, menu and magazines right down to colognes will provide visitors with a nostalgia-filled experience of travelling in the popular airline which closed in 1991.

Air Hollywood

The re-created plane now located in Las Vegas has so far served as a venue for 400 events such as corporate events and birthday celebrations. It hosts four to six events a month, with two of them being open to the public. Captan now hopes to bring the experience to Las Vegas visitors.

In a statement Captan said

Our client is mature, has been around the world and knows what Pan Am is. This experience is a luxury and is targeted toward people that stay at high-end hotels. People that have money want to do something different

The experience starts with visitors having cocktails at a re-created authentic Pan Am lounge. Passengers board onto a 100-seater Pan Amplane featuring pilots and stewardesses styled in 1970s uniforms. The customers are then served a multi-course meal, depending on the tickets, which could include items like shrimp, vodka, black caviar and chateaubriand. The stewardesses follow the airline’s original practices while serving meals including cutting the meat in the aisles.

Other activities include aviation-themed trivia games and a fashion show of the various Pan Am uniforms. The experience is for three hours and costs $ 300 per head for the five-course meal with lower-deck seats while the charge is $ 400 for the six-course meal that is served for the upper-deck seats.

Captan pointed out that the Pan Am Experience was like going back in time, adding that the studio had perfected the experience over the past years of operations and was now ready to provide the same experience on a daily basis. He said that the experience could be enhanced for Las Vegas audiences with use of LED projectors and introducing a sensation of light turbulence.

Captan said that Caesars Entertainment had offered to rent a 10,000 square space for the plane but he had declined as the offer was not attractive enough.

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James Packer Rejoins Crown Resorts And Sells Las Vegas Site

James Packer Rejoins Crown Resorts And Sells Las Vegas Site

Australian casino tycoon James Packer is moving forward with the plan to exit fully from international ventures, with the latest withdrawal being from a Las Vegas project.

His company Crown Resorts has hired commercial real estate firm CBRE to list a 35-acre plot of land on Las Vegas Boulevard. The land is owned by Crown Resorts along with investment firm Oaktree Capital Management. It is located opposite the famed Wynn Las Vegas and Encore properties just ahead of the Fashion Show mall.

The site was purchased for $ 1.2 billion in 2007 for developing the $ 2.5 billion Alon Las Vegas project. Crown had partnered with Andrew Pascal, a former executive of Wynn Las Vegas and received financial backing from Oaktree. The project was expected to be an 1100-room resort.

However Crown Resorts announced a major shift in its strategy last December when it announced that it was moving out from all international ventures including Alon Las Vegas and would focus on its Australian projects. It also announced several measures to cut costs including layoffs and reviewing of sponsorship deals.

The rejig was announced in the aftermath of the surprise arrest of 18 of its employees by Chinese authorities which triggered a sharp drop in its VIP gaming revenue that is yet to recover. Only one of those arrested has been released so far. The Las Vegas sale follows the announcement made last week that Crown Resorts was exiting fully from its highly successful Macau joint venture Melco Crown Entertainment, breaking up a 12-year partnership.

In a statement, a Crown spokesman said

Crown will now be more focused on driving greater returns in Australia and ensuring the company is well prepared to deliver Crown Sydney in 2021.

Analysts are hopeful that Packer re-entering the board will bring renewed focus on Australian properties. The organization shakeup also involved changes to the management. Packer appointed John Alexander as chairman in place of Robert Rankin. Rankin has also moved out of Consolidated Press Holdings which is Packer’s private investment firm. A long-time legal adviser Guy Jalland will be replacing him.

Packer who owns 48 percent of Crown also rejoined its board recently after being cleared by local regulators. He had stepped down in 2015. The only remaining international interest for Crown is its Aspinall casino in London. The company is said to be in preparation to make a serious bid for a license in Japan.

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Defeat Taj Mahal Regulation Causes Las vegas Gambling Cashflow Fall

Defeat Taj Mahal Regulation Causes Las vegas Gambling Cashflow Fall

trump-taj-mahalThe month of October was not the best of months for Atlantic City’s casino industry.

Closing of the Trump Taj Mahal earlier last month induced a decrease in brick-and-mortar casino businesses across the city for the third straight month, NJ.com has reported.

October revenues suffered a drop in excess of nearly 3% to $ 186.4 million to $ 191.6 million only a year ago, the state Division of Gaming Enforcement revealed.

With the closure of Trump Taj Mahal, Atlantic City ended up losing its fifth casino in less than three years.

Atlantic City’s economic struggles have had a serious impact on the casino industry and Trump Taj Mahal casino is just last in a long line of closed down properties.

Once referred to as the “Eighth Wonder of the World”, the Trump Taj Mahal closed after several months of union strike, which casino’s management blamed to preventing a ‘path of profitability’.

The casino was forced to close down after failing to reach an agreement on new contracts for nearly 3,000 workers after the Trump Entertainment Resorts terminated the health insurance and pension benefits of union workers back in October 2014 as the casino was in bankruptcy court.

Despite the reported decrease in revenue, the elimination of one of the biggest competitors in Atlantic City’s gambling markets appears to have had a positive impact on seven remaining casino operators.

The survivors saw their revenues go up by almost 6% in comparison to the previous year with the Golden Nugget reporting the biggest monthly increase of even 16.7% to $ 20.6 million.

According to Matthew B. Levinson, chairman and executive director of the Casino Control Comission, October was a good month for the surviving casinos and their table games, slot machines and internet operations.

In that regard, the internet gambling continued to record a steady growth in New Jesrey despite the Trump Taj Mahal closure, bringing in $ 16.7 million which is almost 30% up from October 2015.

Without the Trump Taj Mahal in their way, Atlantic City casinos amassed $ 2.2 billion in brick-and-mortar and internet gambling revenues during the first ten months of the year 2016, which makes for a 1.4% increase for the same period in 2015.

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