Caesars Entertainment Corp. said last week that it will spin off its interactive gaming business, Planet Hollywood and a planned casino in Baltimore into a separate company owned in part by the casino operator, the company’s stockholders and private equity firms Apollo and TPG.

Apollo Management and TPG Capital are expected to invest a combined $500 million in cash into Caesars Entertainment as part of the deal, which would create a “growth-oriented entity” controlled by Caesars Acquisition Co., a company created to facilitate the transaction.

Caesars Interactive CEO Mitch Garber will serve as CEO of the acquisition company and continue in his role with the interactive division, which owns the World Series of Poker.

In a statement, Caesars Entertainment, which has long-term debt of more than $20 billion, said the transaction would allow the company to fund growth opportunities in “a less levered and more flexible vehicle.”

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Our little low-stakes show continues to take shape. In this episode Andrew talks about making the shift to daytime play, Dave looks for Presidents Day booziness at his tables, and I learn too much about Planet Hollywood after not taking a proper piss break during the iGaming North America conference going on upstairs.

Also this week: Our favorite Vegas grinder poker apps, with a special look at the new addition of MGM Resorts to Bravo Poker Live; a preview of the upcoming Wynn Classic and its opening $250k guarantee; a $10k early morning freeroll at the Palms; and various jackpot promos and bonus offers that may or may not be floating your boat any particular casino’s way.

All this (more or less) for only some 30ish minutes of your time!

Vegas Grinders 1.2
[audio: http://pokerati.com/podcast/VegasGrinders/LVGrinders20130220-b.mp3]

It’s been a few weeks since my last post but the grinding hasn’t stopped. Well, actually I didn’t play much at all over the Thanksgiving weekend as I spent the holiday in Palm Springs with some family. Here are some photos!

I went into a bit of a breakeven stretch over the following four sessions. I have only myself to blame for this because I failed to use any sort of anti-jinx methodology. For example, say you send a tweet talking about how hard you’re crushing a game or how amazing you’ve been running at the tables. I usually don’t like to write such tweets because over 50 percent of the time they carry the jinx-virus, which will abruptly halt any and all rungood and stop it dead in its tracks. That being said, it is possible to tweet such thoughts to the twittersphere, but it would be foolish to do so without using anti-jinx protection. You’re simply putting yourself and your bankroll at risk without strapping on a hashtag along the lines of #plsdontjinxitkthx at the end of your happy tweets.

I don’t know why we call the poker gods, Gods, but we do. They seem more like a bunch of high school dropout, weird uncle, goofball idiots to me. When they abandon you, it is the filthiest, loneliest feeling you can imagine. But when they reflect their light on you for any kind of extended stretch, you feel, well, enlightened. Chosen. So in tune with everything you can hear the hum of the earth.

I somehow managed to sneak a $117 victory past the jinx-bouncers playing $1/$3NL at the Rio on the 1st of the month. But the next day when I ventured into the Palace of Caesar, his games of $1 and $3 were not so kind. I left @CLVPoker $400 lighter in the pocket, and followed that with a small $85 loss on the 3rd. My spirits were quickly risen on the very next day, which was a Thursday. Thursday evenings, as you should know by now, means Pokerati game night. The PLO/NL mixed game has treated me really well since its incarnation @PalmsPokerRm (#nojinxnojinxnojinx) and this particular Thursday brought happiness in the form of a $520 win, erasing losses from the previous two sessions. Unfortunately the breakeven stretch continued another day; on Friday I played a long, 10-hour session at the Rio dropping about $700 in frustrating fashion. Actually there was a pretty interesting hand from said session…

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In my mind this is all part of some master plan for Harrah’s to some day hold the final table of the WSOP main event smack-dab in the middle of Las Vegas Blvd.:

Harrah’s is moving forward on a plan to acquire Planet Hollywood. Harrah’s took over management of Planet Hollywood’s hotel operations and some of its restaurants and bars in January. Planet Hollywood continues to run its own casino, though Harrah’s has made it clear it wants eventually to own the entire operation. If successful, it would give the company control of all 126 acres on the east side of the Strip between Flamingo Road and Harmon Avenue. Adding PH’s 2,496 hotel rooms to Harrah’s inventory would give it nearly 23,000 rooms on or near the Strip.

Everybody likes a sneak peak into high-roller hotel rooms … and this YouTube vid gives more than a glimpse of the Bruce Willis and Marilyn Monroe suites at Planet Hollywood. PHo’s poker room is under new management, btw, that seems to be working hard to bring good, friendly customer-servicey low-stakes action ever since their previous management team turned out to be a bunch of (alleged) crooks:

Back in the day, you know, like 2007, rooms like these — with amazing views, foosball, and a bidet — were reserved for people willing to pay a few thousand a night or gamble with 10s of thousands. Now, as 2009 comes to a (bittersweet?) close, such suites are being given away for free to semi-famous YouTube bloggers who know a guy who knows a guy who once worked at Best Buy and sold stereo equipment to a previous high-roller with leftover comp points.

Economy prediction: Bargain luxe + favors will be hot in 2010, too.

That’s been the buzz amongst dealers and floor staff at both Planet Hollywood and Harrah’s Hotel … and now the LVRJ is semi-confirming. Technically, Harrah’s is just seeking purchase of P-Ho’s $860 million debt, but financial analysts say this could likely be a way for them to acquire the whole property.

Planet Hollywood, of course, earned the distinction for being the Worst Poker Room in Las Vegas in 2007 (according to Pokerati.com), and last month saw its poker room management removed in handcuffs — arrested for allegedly skimming money via fake Bad Beat and High Hand jackpots.

Thanks, Shrink, for the tip!

ALT HED: WSOP-Ho?

Rumors of these arrests have floated around the forums the past week or so, but now The Las Vegas Sun reports the arrest of four casino supervisors and managers at the Planet Hollywood Resort in Las Vegas. Johnathan Sanner, Jason Peterson and Thomas R. Kordick, of Las Vegas along with Scott Marshall of Henderson were charged with forgery, embezzlement or conspiracy in the false reporting of $2,201 in high hand jackpots for two instances in August.

The Antiscouse writes in seeking some info that I figure should share with all of you, too … because really, what more do Pokeratizens wanna know beyond the latest law, politics, tournament results where should I play and eat when coming to Las Vegas?

Headed your way for the weekend, was hoping at the last second to get your recommendations on 1) tournaments and 2) sushi places to take guest/client. As for tournaments, playing one Friday somewhere during the day, not sure where yet- thoughts? Used to play the Caesars noon $330, didn’t like it last time so thought I’d branch out.

A slightly embellished version of my response to The Antiscouse:

1) Tournaments (Friday day)

Venetian $150 nooner
7,500 starting chips and 30-minute levels. It’s actually a daily event that usually draws 75-or-so runners throughout the week, but on Fridays it has been running closer to 150 players with first-place payouts around $8k.

Since you don’t dig the Caesar’s $330, you might also wanna check out the Bellagio daily events, and if you’re willing to go up against a smaller field with fewer prize payouts, the Hard Rock is in the last few days of their inaugual MegaStacks series — where all the events have been turned into $340s.

For a complete and semi-regularly updated list of Las Vegas daily and weekly tournaments + special events, go here.

2) Sushi

Nobu (at Hard Rock) is my personal favorite. Tasty. Sexy. Fun.

Simon (at Palms Place) is also one of my favorite restaurants in town … though it’s not pure sushi … it’s like Asian fusion with homegrown American steaks and stuff, and it’s away from the casino, which may be more appealing to me than you and your client.

Sushi Roku in Caesar’s Forum Shoppes is great food … but the price-to-portions ratio makes you feel like you’re at more of a French restaurant, and the long walk through a shopping mall to get there may be unappealing to smokers.

The sneaky, ooh, wouldn’t have thought of that place … Koi at Planet Hollywood.

UPDATE: 143 runners at Venetian today — Tagg finished 22nd (18 got paid). Hopefully better results TK for sushi.

Even more semi-pokery TV … Shaquille O’Neal is in town, doing some filming at Planet Hollywood for his new Shaq Vs. program, which debuts tomorrow at 9pm ET/PT on ABC.

The concept is that Shaq takes on the best in the world at their own game(s). He’s got some sort of swimming contest set up with Michael Phelps, a tennis match vs. Serena Williams, boxing vs. Oscar de la Hoya, and he’s been taunting David Beckham on twitter claiming the (once) great soccerer can’t bend one past him in goal.

While the entire show seems to be athletic-based — there’s no challenge to Elton John for some dueling pianos, e.g. — poker seems to have slipped in there. (Props to Disney sibling ESPN?) According to @Phil_Hellmuth, he, Mike Matusow, Chris Ferguson, and Erick Lindgren are on set right now filming an episode that we can only presume is Shaq trying to beat the best at Texas Hold’em.

Not sure about the format, but gotta think Lindgren’s got the edge after all his experience on Face the Ace.

Speaking of Thrillist … my other, non-poker gig … one thing we’ve learned over there is that Thrillist readers care way more about night clubs, booze, restaurants, race cars, and tiddy bars than they ever do about poker.

So I was a little surprised to get the numbers back from last week’s edition, where an item about Phil Hellmuth’s new website for his clothing line was the highest performer. Really? Yep … A decidedly non-pokery readership found the PokerBrat’s T-shirts and Pep Pills more intriguing than an MGM bar, a new gambling-themed wine, casino decor, and a corner of P-Ho where blackjack dealers wear lingerie:

From Thrillist:

Wear: PokerBrat Clothing
These surprisingly subtle tees come from the John McEnroe of poker, 11-time WSOP champ Phil Hellmuth, with highlights including “Poker Tree” (“grow that chip pile from a toothpick to a lumberyard”), and “Poker Skater”, harkening back to his U of Wisconsin transpo from barroom games back to his dorm. Less tastefully, Hellmuth also hawks books, DVDs, and “Go Heads-Up” energy pills, guaranteed to keep you at the table long enough to lose your subtle tee.
Check out shirts and more at PokerBrat.com

They really are some pretty cool shirts. But perhaps the scary thing is clicking through the site, where Hellmuth tries his hand at pokery grocery-store romance. Click below to read about a poker-bratty encounter with the woman who would later become his wife:

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In a move that may or may not say anything about the state of poker on TV (or even just the state of TV for that matter), the show Stargate Atlantis is doing a little filming in Vegas today … at Planet Hollywood. Something about looking for a serial killer at a high-stakes poker game visited by aliens who hold the fate of the planet security in their hands. The Las Vegas pros at the table — Todd Brunson and Roy Winston(?).

Airs January 2 on the Sci-Fi Channel.

ALT HED: Extra, Extra!

Click below for the episode descrip:
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There are 50 poker rooms in Las Vegas, so we thought you might appreciate the assistance of fellow degenerates in narrowing down the possibilities of where to play when you come to town. The votes have been tallied … and four places stood out above the rest … In what may or may not become a recurring tradition around these parts, Pokeratizens say the Best Poker Rooms in Vegas are:

Gold Medal
The Venetian

Great regular tourneys, Deep Stack Extravaganzas, plenty of all-but-the-highest-stakes action, bottled Fiji water, and maybe the escalator that dumps off drunkenly clad party girls coming out of Tao right in front of The V’s poker room make it far and away the favorite of this website’s readers/players/dealers.

official site / TPA

Silver Medal
Caesar’s Palace

The separate tournament room really is cool, if not the best in town, and the comfortable multi-tiered cash game area never seems short of action appealing to the masses of big little-stakes players. Great freerolls for regular cash players, too.

official site / TPA

Bronze Medal
Bellagio

Still home to the biggest games in Vegas (in terms of buy-ins), thereby drawing the most pros and the players who want to challenge/sit near them. Everything Bellagio is always luxe, of course, and their regular $500 and $1k tourneys makes the chance to play for baller money an in-town constant.

official site / TPA

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SCOTTSDALE, AZ–As I make my way back to Texas, I heard there was a big Chinese Poker game taking place in the Valley of the Sun, on a table made of suede no less, so I had to go check it out. Donkey Bomber was at the table — fresh off a plane from North Carolina, and frankly, a little shocked to see me there having not applied for media credentials through him — as was two-time bracelet winner Pat Poels, a dude named Rocky, Pokerati’s newest sexy blogger Big Robert, and Jesse McGinty … a Chinese Poker champion who apparently gets no love from CardPlayer, journalistic or otherwise. He won the inaugural $5,000 “Grinder” Chinese Poker Championship at Planet Hollywood (taking home about $50k) … but try to find mention of him in the magazine and it’s near impossible, even though CP was all over this event. (Was I the only one who went to a J-School that gave us an automatic F if we misspelled a name?) Also find it curious that Bluff didn’t include this Chinese Poker tournament in their rankings — even though it was a $5k event, which is the line they use — and vehemently defend — to determine which tourneys matter.

Anyhow, it’s starting to become clear to me … the Arizona Posse gets no respect. No wonder they are all so angry all the time.

The Chinese contingent of the Arizona Posse: (L to R) Robert Goldfarb, Jesse McGinty, Pat Poels, Nekpal Singh, and Tom Schneider.

They were playing $25-a-point (with royalties), which would grow to $50-a-point and then $100-a-point and then betting on drawing seven cards at random from the deck and making the best five-card hand. (I almost bought into that action. In fact, now that I think about it, getting 4:1 on $50 with no skill disadvantage … probably a mistake not to.) Learned a lot about playing Chinese from these guys. For example, I had no idea you could play five-handed with two decks, but you can! And when I questioned their use of non-Kem/Copag cards — they went with the more papery Bicycles — it was not because they were cheap, but because 100-percent plastic cards are a little too slick for optimal Chinese splays. Who knew!?!

(The AZ-Posse, that’s who.)

The Bellagio-like spread health-conscious buffet at Casa de Goldfarb.

Though I left before the game broke, McGinty seemed to be the guy to beat, as he was up a couple thousand dollars by 2 am.

CardPlayer’s non-embeddable video coverage of the event won by the Irish Italian guy above. Click to watch.

LAS VEGAS–Ooh, meant to tell you about Michael “the Grinder” Mizrachi’s new deal as the face of Planet Hollywood’s poker room. Good fun to be had, particularly at the special Chinese Poker table, you can only imagine. Then again … though you gotta like the concept of pros-turned-hosts at brick-and-mortar poker rooms, I’m not really a fan of P-Ho, as Pauly calls it.

Click here to read the review I submitted to The Poker Atlas, in which I call this locale “my least favorite room in Vegas, if not anywhere.”

Click here to see the CardPlayerTV interview with Mizrachi that ignores the regular presence of horrible music/jackhammers in the background.

P.S. Wonder if my opinion would be different had two $60 tournaments (with re-entry permitted) and two 1/2 NLH sessions resulted in better than nearly $700 in losses.