Latest news with #Derek Stevens
The Independent
3 days ago
- Business
- The Independent
Vegas' oldest hotel ditches live table games: ‘we couldn't be more excited'
Las Vegas's oldest hotel is replacing all of its tables using real cards and dealers and replacing them with electronic gaming versions. The Golden Gate Hotel & Casino is"reimagining" its casino floor and, in a Downtown Vegas first, removing live dealers, according to Circa Resort & Casino CEO Derek Stevens. "Big changes are coming to the Golden Gate, and we couldn't be more excited. As the oldest hotel in Las Vegas, we've always embraced the future, and now we're reimagining our casino floor with a high-energy electronic table games pit unlike anything downtown has seen," Stevens said in his statement. The workers who will be displaced by the change are being offered roles at other company casinos, or the chance to try something new within the organization. "All of our table games team members at the Golden Gate are being offered roles at Circa or the D, or the opportunity to explore new departments within the company," Stevens wrote. He promised "more excitement, faster gameplay, and all the newest machines" on the 118-year-old casino's floor. It's unclear exactly when the change will go into effect. While casinos have long featured electronic games like slot machines and video poker, most major venues also have live tables for poker, blackjack, roulette, craps, and other games. Most casinos — if they have electronic table games at all — have them alongside traditional tables with human dealers. Last year, the Silver Sevens, which is an off-Strip Vegas casino, moved to hybrid tables that have a human dealer but do not use chips and use a terminal for placing bets. In 2021, the Resorts Casino & Hotel in Atlantic City introduced a slew of electronic table games to its floor, though those games exist alongside other live casino games.
Daily Mail
4 days ago
- Business
- Daily Mail
Las Vegas casino dumps human dealers for computers as soaring prices and Trump boycotts decimate tourism industry
The oldest casino in Las Vegas is replacing all human dealers with electronic table games as soaring prices and tourist boycotts continue to drive visitors away. The Golden Gate Hotel & Casino is 'reimagining' its casino floor and will no longer have live table dealer games, owner and Circa CEO Derek Stevens has revealed. Although electronic table games have been in casinos around the globe for decades, the Golden Gate will be the first hotel in downtown Las Vegas to completely eliminate human dealers from all of its tables. 'We've always embraced the future, and now we're reimagining our casino floor with a high-energy electronic table games pit unlike anything downtown has seen,' Stevens said in a statement to KLAS. Although the CEO did not specify what inspired the change, he teased that visitors can expect 'more excitement, faster gameplay, and all the newest machines'. Industry experts expect the electronic table games market in the US to grow from $2.7 billion in 2024 to $4.9 billion by 2033, according to a recent study by Market Statsville Group. Proponents of the tables argue the devices increase accuracy and efficiency, optimize casino floor space, increase revenue and reduce operating costs because they require fewer dealers and pit supervisors than live tables. All Golden Gate table games members will have the opportunity to pursue roles in other departments or at other hotels in the Circa family. All though electronic table games have been in casinos around the globe for decades, the Golden Gate will be the first hotel in downtown Las Vegas to completely eliminate human dealers from all of its tables Electronic table games can operate in three ways: dealer-controlled, non-dealer controlled or stadium gaming. In a dealer-controlled game, a human will facilitate the game as players make bets and receive payouts on individual terminals, the Market Statsville Group report says. A non-dealer controlled game is fully automated and virtual, with outcomes determined by a random number generated or fully automated device. In these settings, players will only interact with their electronic terminal. The stadium gaming configuration is largely popular among casinos and involves displaying a live dealer or automated game on a large screen. Multiple players participate in the game from their individual terminals, creating a communal atmosphere. Proponents of electronic table games say they make casino gambling more accessible due to their lower minimum bet requirement and user-friendly interfaces. Experts claim players find an electronic interface is less intimidating, offers more privacy and is easier to switch between games. But the biggest appeal to switch from traditional table games to electronic is likely the financial benefit that casinos will see. The average salary of a Las Vegas casino table worker ranges from $22,500 to $40,000 annually, according to 2023 figures from the US Bureau of Labor Statistics. Many casinos across Vegas have already begun phasing out $5 and $10 minimum bets at live tables, the Las-Vegas Review Journal reports. Revenue earned at low-valued tables reportedly does not off-set the casino's hourly cost of a dealer, or three at a craps table. It is unclear what an electronic table game costs to acquire and operate, but the Market Statsville Group study did find the devices significantly lower labor expenses. Electronic games also lead to increased revenue and high coin-in due to their lower bet minimums and ability for faster play, the report states. Stevens made no mention to cost-cutting measures in his statement, but the latest data from the Las Vegas Convention and Visitors Authority suggests the city's tourism industry is hurting. Sin City tourism is down 11 percent and overall visits to Las Vegas are down more than 6 percent this year, the figures show. Workers across several industries claim tipping in the city has plunged by as much as 50 percent. Service workers are blaming a sharp drop in visitors, which they say has left them with fewer customers and lower pay. Others are pointing fingers at President Donald Trump, saying his presidency has led to a drop in international visitors, while some say the real problem is Vegas itself. The city only welcomed 3.39 million visitors in March, down almost eight percent from 3.68million in February. April saw just over 3.3 million visitors, a drop of 5.1 percent from last year. Hotels were 82.9 percent full the same month, compared with 85.3 percent in March 2024. Midweek occupancy recorded a decline of 2.5 percent in the same period, despite more than half a million people attending conferences there. And in June, there was a reported 11.3 percent drop in visitors compared to June 2024, while international travel to the city has fallen 10 percent. Stevens last week slammed reports that Vegas tourism has hit a 'dramatic low', telling Fox News that he thinks the data is a 'bit exaggerated'. 'In specific pockets, like where we at Circa Las Vegas are located in downtown — I think people feel there's maybe a little better value. Things were really booming,' Stevens said. The casino boss did admit that international tourism is on a decline, but he believes that is heavily due to the overall global economy and currency exchange rates. Stevens further predicted that 'in six months, I would believe that Vegas tourism and our economy overall will be in a much better place'.
