Inside Asian Gaming

INSIDE ASIAN GAMING | May 2009 46 Briefs International Briefs TCSJOHNHUXLEY launches NX2 The latest cutting edge table game innovation from TCSJOHNHUXLEY is the licensed Roulette game, NX2. NX2 (pronounced “Nex-Two”) is a new approach to Roulette neighbour betting. Unlike a standard neighbour bet, NX2 uses a specially designed layout allowing one chip to cover three numbers that are next to each other on the wheel, with odds of 11-1. NX2 offers players an easy and much more interactive method of placing bets. Using colour or cash chips, as in the traditional method of Roulette betting, NX2 takes customers and staff only moments to learn. One chip bet covers three numbers, delivering a whole new approach to live Roulette without affecting the probability of winning, or losing out to exaggerated House Edge percentages. Instead of placing bets via the dealer, players are able to place lower stake neighbour bets at their own convenience. With one chip neighbour bets proving more appealing than the traditional five chip bet, players and dealers have welcomed TCSJOHNHUXLEY’s latest table game with enthusiasm. Among the myriad benefits of NX2 are faster game play and increased spins per hour. NX2 also requires less inspection time than traditional Roulette layouts, so dealers’ concentration can be kept solely on the table in front of them and the players, ensuring increased security and hospitality satisfaction. Created by casino operators, NX2 is designed to reduce operator inspection staffing costs by delivering fewer disputes—as players are responsible for placing their own bets, called bets are no longer necessary, thus completely eliminating ambiguous calls. With no called bets during the spin, the dealer does not have to turn into the float as often (to get value chips for neighbour bets etc). This concentrates them on game play at all times, ensuring that security risks are reduced to a minimum and that late bets are not placed on a winning number after the ball has dropped. TCSJOHNHUXLEY has recently installed NX2 at London’s Paddington Casino on their two busiest Roulette tables. Gary Andrews, Casino Director comments: “In their first two months these tables had an above average hold with dramatically increased spin rates, something, I believe, will continue. Players are attracted to NX2 as a faster game—they are able to place their own neighbour bets for lower stakes and can easily bet on sections of the wheel. I believe that NX2 Roulette will replace the old race track based layouts and become the first choice on Roulette tables across the world.” New boss for IGT IGT has named Patti S. Hart as its new President and CEO, with effect from April 1st, 2009. The appointment is subject to Ms Hart obtaining appropriate regulatory approvals. The outgoing president and CEO TJ Matthews will continue to serve as chairman of the board. “IGT is a dynamic company with a solid record of performance, a wealth of talented employees and great potential for the future,”said Ms Hart in accepting the post. “While the industry is facing challenging economic headwinds, I am eager to take on my duties as the CEO and help maintain IGT’s position as an industry innovator,” she added. Still a jungle out there It looks as though the lion can sleep soundly in Macau and Las Vegas after all—for the time being—following a decision by MGM MIRAGE’s senior lenders to provide US$200 million funding to cover immediate credit needs. The company, which has an equity holding in MGM Grand Macau via a 50:50 deal with Pansy Ho, saw its share price perk up at the news. The cash should enable MGM MIRAGE to honour the current deadlines on debt covenants on its CityCenter project in Las Vegas. Structural issues remain, though, for MGM MIRAGE’s balance sheet. Half the US$200 million facility announced is for contingencies to cover funding that MGM had hoped was already in the bag, namely a US$100 million contribution from Dubai World, the investment vehicle of the Gulf emirate’s sovereign wealth fund. No one is saying publicly that Dubai World has scaled down its role or even pulled out of funding CityCenter, but if things have got to the stage of organising contingency funding to cover its contribution, the prospects for Dubai World’s future involvement don’t look too good. It’s also worth bearing in mind that despite the welcome sticking plaster of the current US$200 million facility, MGM MIRAGE is still likely to need one or more new long-term equity partners if it is to get out of the financial jungle. Colony Capital, the private equity company that took Station Casinos private in MGM Grand Macau