Las Vegas Monorail bankrupt; Ambac faces exposure
The Las Vegas Monorail, which ferries people between some of the strip casinos and the Las Vegas Convention Center, has filed for bankruptcy.
“The decline in the monorail’s operations is tied directly to the decrease in gaming revenues in Nevada, and particularly along the Las Vegas Strip,” the chief executive of Las Vegas Monorail, Curtis Myles, said in a court filing.
Ridership “has not met projections formed prior to the economic collapse,” he added.The monorail is expected to keep operating during the bankruptcy process.
Baccarat making a big difference
Even when revenue from most of the games went down, baccarat continues to be a money maker for Las Vegas casinos.
Baccarat, the high-stakes card game favored by James Bond, accounted for nearly 20 percent of the Strip’s gambling revenue in November, the Gaming Control Board announced last week. Strip casinos reaped $92.7 million from baccarat players that month — a 136 percent increase from a year ago.
RCCL pledges $1 million in aid for Haiti
Royal Caribbean Cruises, Ltd. has “pledged $1 million in humanitarian relief to Haiti in response to Tuesday’s devastating earthquake that leveled much of Port-au-Prince.”
RCCL is also delivering goods and supplies to Haiti via their cruise ships, the first of which arrived today. The Independence of the Seas called in Labadee this morning stocked with rice, dried beans, powdered milk, water and canned goods.
RCCL said that 100% of the revenue made in today’s Labadee call would be contributed to the relief effort.
(Photo: http2007/Flickr Creative Commons)
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