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Friday, August 31, 2018

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West Virginia Quietly Becomes Fourth State to Launch Sports Betting

Casino News Daily
West Virginia Quietly Becomes Fourth State to Launch Sports Betting

West Virginia quietly became the fourth state to launch legal sports betting after the US Supreme Court struck down in May a federal ban on wagering on professional and collegiate sports leagues.

Hollywood Casino at Charles Town Races in Charles Town, West Virginia accepted yesterday its first bet, thus soft-opening its sportsbook. The casino’s wagering facility is operated by the US division of British bookmaker William Hill.

House Delegate Jason Barrett put the first bet on Thursday to participate in a historic moment for the state’s and the US gambling industry. Delegate Barrett placed $50 on the West Virginia Mountaineers to win the football national championship. He will win nearly $3,000 if that happens. The state lawmaker told local media that it was extremely easy to bet and that it really reminded him of betting on horse racing.

The General Managing Counsel of the West Virginia Lottery, Danielle Boyd, has confirmed the opening of the state’s first sportsbook and has pointed out that the despite the facility’s grand opening on Saturday, it is “officially open” now.

Hollywood Casino, which is owned and operated by Penn National Gaming Inc., will host a larger-scale opening ceremony for its sportsbook tomorrow at 11 am local time. A mobile app that will allow the casino’s patrons to wager while at the property via their mobile phones is expected to be rolled out in the next couple of weeks.

Commenting on the launch of their sportsbook, Hollywood Casino Head of Sports Erich Zimny told local media on Thursday that they are happy that West Virginia has jumped on the betting bandwagon quickly and has thus secured a competitive edge over neighboring Maryland.

A bill allowing sports betting at Maryland’s gambling venues was introduced last year but was voted down by legislators. It is believed that it will be reintroduced next spring. If it gains the necessary support in the state Legislature, it will then have to survive a statewide referendum in order to be enacted.

Exemplary Regulatory Framework

West Virginia was actually among the states that passed a legislative framework ahead of the US Supreme Court ruling in May that allowed individual states to legalize sports betting, if they felt inclined to do so. This facilitated the early launch of sports betting services at the state’s existing gambling facilities.

Commenting on the state’s wagering regulatory framework, Delegate Barrett said that it should be model for the rest of the nation and that he believes they have done it right.

According to preliminary estimates by the West Virginia Legislature, the state’s sports betting industry would contribute additional revenue of around $5.5 million to the coffers during the first year. However, a separate, Lottery-commissioned study presented a much more optimistic picture for additional revenue of between $9 million and $17 million.

Five of the state’s casinos have lodged interest in operating sportsbooks. They were all required to pay a $100,000 licensing fee. In addition, they will have to contribute a 10% tax on adjusted gross sports wagering receipts.

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The post West Virginia Quietly Becomes Fourth State to Launch Sports Betting appeared first on Casino News Daily.

Ionut Rusu

Florida Casino Amendment Sees Support from 71% of Likely Voters in Latest Poll

Casino News Daily
Florida Casino Amendment Sees Support from 71% of Likely Voters in Latest Poll

Amendment 3 will see support from 71% of Florida’s residents who are likely to cast their vote in the upcoming General Election in November, the results from a recently conducted poll show.

Spearheaded by the Voters in Charge organization, Amendment 3 aims to modify Florida’s existing law in a manner that will prevent any gambling-related decisions from being made by the state Legislature without those being approved by 60% of all voters first.

The latest poll on the matter, the results of which were published earlier this week, was commissioned by Voters in Charge and was conducted by Hill Research Consultants. The research firm interviewed 1,209 people in the period between July 18-24. Interviews were conducted online as well as via mobile and landline phones. Hill Research found that 71% of all respondents were likely to vote ‘Yes’ for Amendment 3, meaning that they would support control over gambling-related decisions to be handed to residents of the state. Of all interviewed individuals, 18% said that they would cast a ‘No’ vote.

A similar poll carried out by Hill Research in January showed relatively similar results. As many as 1,235 likely voters were interviewed back then and 76% said that they would support Amendment 3, while 19% responded that they would vote ‘No’.

Why Will Amendment 3 Probably Succeed?

According to analysts, Amendment 3 will likely succeed in the upcoming November vote for several important reasons. In the first place, Florida voters had long been the ones to decide on gambling expansion matters, following the legalization of certain gambling services in the state in the early 1900s. It has actually been only recently when lawmakers assumed full control over those decisions.

Amendment 3 has thus been promoted as a measure that would reinstate something that had previously belonged to the people of Florida.

In the second place, the proposed constitutional amendment is pretty straightforward and easy to understand what will change exactly if it gains the necessary support from more than 60% of all Floridans who cast a vote at the upcoming mid-term General Elections on November 6. To better illustrate this, here is the Amendment 3 ballot title and summary:

Voter Control of Gambling in Florida

This amendment ensures that Florida voters shall have the exclusive right to decide whether to authorize casino gambling by requiring that in order for casino gambling to be authorized under Florida law, it must be approved by Florida voters pursuant to Article XI, Section 3 of the Florida Constitution. Affects articles X and XI. Defines casino gambling and clarifies that this amendment does not conflict with federal law regarding state/tribal compacts.

Last but not least, Amendment 3 has two huge businesses as its main supporters. News emerged earlier this month that of the total amount of $27 million poured into the measure’s promotion, $26 million has come from Disney and the Seminole Tribe of Florida, which owns and operates a number of casinos through its Seminole Gaming and Hard Rock International entities. Both have no interest in any form of gambling expansion in the state due to competition concerns. They have thus teamed up to support the Voters in Charge’s cause and thus prevent any new gambling entities from being established to steal clientèle and cannibalize revenue.

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The post Florida Casino Amendment Sees Support from 71% of Likely Voters in Latest Poll appeared first on Casino News Daily.

Ionut Rusu

Doyle Brunson buys Cadillac thanks to winnings at Bobby's Room

BankrollMob News - Poker / Casino / Betting
Doyle Brunson buys Cadillac thanks to winnings at Bobby's Room
Doyle Brunson may be declared retired in his poker pro career according to his Wiki page, but he still is active in playing the game, and everyone who knows him is that one of his favorite venues to play at is inside the famous Bellagio's Bobby's poker room. The 85-year-old 10-time WSOP bracelet winner, thanks to his recent poker session victories in said Bobby's Room, has now treated himself to a brand-new Cadillac Escalade (ranging from $75k to $100k), and he's thanking the poker players he d[...]

Thursday, August 30, 2018

Ionut Rusu

Poker Player Loses Massive Pot After Showing Card To Opponent

BankrollMob News - Poker / Casino / Betting
Poker Player Loses Massive Pot After Showing Card To Opponent
What could have driven this poker player to show his card at a crucial time to his opponent - arrogance, recklessness, or just plain stupidity? Read on to find out what happened and tell us what you think. In the world of poker, it is considered absolutely very risky to show your opponent one of your hole cards, most especially if it's during a live hand and the stakes are high. On Monday this week at the Bicycle Casino located just outside of Los Angeles, a poker player was reminded this di[...]
Ionut Rusu

Genting Malaysia 2Q net profit more than doubles

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Genting Malaysia 2Q net profit more than doubles

KUALA LUMPUR (Aug 29): Genting Malaysia Bhd’s second quarter net profit more than doubled to RM395.71 million, from RM193.82 million a year earlier, aided by its Malaysian operations.

Ionut Rusu

Pharmaceutical Company Signals Interest in Mystery Casino Resort Project in Europe

Casino News Daily
Pharmaceutical Company Signals Interest in Mystery Casino Resort Project in Europe

Canadian pharmaceutical company Easton Pharmaceuticals Inc. announced on Wednesday that it has entered into a Letter of Intent to participate into a project for the development of hotel and casino resort in Europe.

The location of the future property and other details about it have remained undisclosed and more information is expected to be released in the coming weeks, once the ongoing negotiations are closed. The company is set to partner with the American gaming arm of a Canadian holding and investment company that is spearheading the project.

Easton said in a press release from Wednesday that the planned integrated resort will feature a casino with 1,000 slot machines and 50 gaming tables, a hotel with 538 rooms and VIP suites, retail space, a showroom, a spa and wellness center, different food and beverage options, a convention facility, and a 504-space parking garage. The property will be a high-end one in “an idyllic river” area. It is projected to generate annual revenues of more than €77 million.

Easton Pharmaceuticals CEO Evan Karras said in the Wednesday press release that they anticipate the property to be among the most prominent of this kind when it becomes operational. The executive further noted that his company’s participation in the project is part of its strategy to expand its presence in the global gambling industry. The deal is expected to create “value and growth” for Easton Pharmaceuticals, Mr. Karras added.

Second Casino Project in Europe

This is the second European casino project Easton has announced interest in participating in over the past several weeks. Earlier this month, the company confirmed that it has begun discussions with involved parties over the acquisition of an interest or participation in the acquisition of an already operational hotel and casino resort in Greece.

According to a company press release from last week, the property in question features a casino with 1,000 slot machines, 87 gaming tables and a VIP area, 255 hotel rooms and 20 suites, a private beach, eight restaurants, a spa and wellness center, and convention facilities. The property is one of Greece’s nine operational casinos.

Mr. Karras participated in the privatization of the South European country’s gambling sector back in the 1990s and, as stated in a press release from last week, has established strong relationships with representatives of that industry. In addition, the businessman has been familiar with the operation the property his company has expressed interest in.

Easton has not revealed further details about the property it is planning to get involved in the operation of due to the confidential nature of the ongoing negotiations. The company is expected to release additional statements once in the coming weeks after the expected completion of the ongoing discussions.

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The post Pharmaceutical Company Signals Interest in Mystery Casino Resort Project in Europe appeared first on Casino News Daily.

Wednesday, August 29, 2018

Ionut Rusu

Online gambling firms remove restrictions on cash withdrawals

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Online gambling firms remove restrictions on cash withdrawals

Two online gambling firms must now make it easier and fairer for players to withdraw their cash following CMA action.

Ionut Rusu

NFL Club Owners Retain Stakes in DraftKings Despite Sports Betting Launch

Casino News Daily
NFL Club Owners Retain Stakes in DraftKings Despite Sports Betting Launch

The owners of two NFL clubs have not disposed of their stakes in daily fantasy operator turned bookmaker DraftKings as the new season is weeks away from kicking off and sports betting legalization efforts are gaining pace in multiple states.

Major US sports media outlet ESPN reported on Tuesday citing unnamed sources that New England Patriots owner Robert Kraft and Dallas Cowboys owner Jerry Jones have not sold yet their stakes in the daily fantasy company, which recently launched a mobile sports betting app in New Jersey.

Both businessmen have small stakes in DraftKings, less than 5% each, sources have confirmed. Asked to comment on the matter, a Cowboys spokesperson has told ESPN that Mr. Jones indeed owned a stake in DraftKings but his ownership was through sports hospitality company Legends and not through the football team.

However, it turns out that both Mr. Kraft and Mr. Jones are not in a conflict of interest, or at least not yet. Brian McCarthy, a spokesman for NFL, has told ESPN that under existing policies of the league, members are allowed to own equity interest in a given business that does not generate more than a third of its overall revenue from gambling services.

Where Does DraftKings’ Betting Product Stands At?

At present, fantasy sports is DraftKings’ primary product. However, in a recent interview with Yahoo Finance, CEO Jason Robins said that it will not be long before the company begins deriving the majority of its revenue from sports betting. He added that they expect that to happen in the next two to three years, depending on “how fast the states roll out”.

DraftKings joined the US sports betting scene, which is gradually expanding with every day passing, at the beginning of August. The company launched a mobile wagering product in New Jersey, a result from its partnership with Resorts Casino Hotel. DraftKings Sportsbook actually became the state’s first mobile betting app. The product offers different types of betting, including in-game bets and pre-season betting, and makes it possible for bettors to exit a wager through a ‘cash out’ feature.

Gambling consultancy Eilers & Krejcik Gaming estimated that DraftKings’ revenue from daily fantasy sports stood at around $218 million in 2017. It is to be seen how much the company will generate from sports betting during the first month and throughout the rest of the year.

ESPN points out that should DraftKings’ betting revenue eventually lines up and eclipses its proceeds from daily fantasy sports, it will be a costly move for Mr. Kraft and Mr. Jones to dispose of their stakes in the company. Still, they will be forced to divest, under NFL’s current policies.

NFL has long been one of the biggest opponents of sports betting, arguing that it threatens the integrity of sports The football league is one of the four major US leagues that are seeking a share of the revenue generated by the nation’s sports betting industry in the form of an integrity fee, with NBA, NHL, and MLB being the other three.

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The post NFL Club Owners Retain Stakes in DraftKings Despite Sports Betting Launch appeared first on Casino News Daily.

Ionut Rusu

Nearly 8 million more Chinese granted visas to Macau, HK

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Nearly 8 million more Chinese granted visas to Macau, HK

China’s Ministry of Public Security announced on Tuesday measures that should make it easier for nearly 8 million mainlanders get a visa to visit either Macau, Hong Kong or Taiwan as part of a tour group, reported several media outlets.

Ionut Rusu

Ukraine reclassifies Poker as a Sport, exempts Game from Anti-Gambling Laws

BankrollMob News - Poker / Casino / Betting
Ukraine reclassifies Poker as a Sport, exempts Game from Anti-Gambling Laws
It looks like poker in Ukraine could potentially be able to flourish once again right after the country's Ministry of Youth and Sport decided to re-classify the game as a sport, thus exempting it from the country's anti-gambling laws. Earlier this month, the Ministry of Youth and Sport published document 3780. Written in Ukrainian language, the translation says that "II.119 sport poker" is now included on the country's Register of Recognized Sports. Ministers switch back and forth on [...]

Tuesday, August 28, 2018

Ionut Rusu

David Herbert Director of Non-Gaming Operations

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David Herbert Director of Non-Gaming Operations

Leading casino operator Genting UK has launched a brand new, state-of-the-art Diamond Spins™ Video Slots game, developed by International Gaming Technology (IGT).

 

Ionut Rusu

Michael Copeland Takes Down WPT500 Los Angeles for $181,950

Casino News Daily
Michael Copeland Takes Down WPT500 Los Angeles for $181,950

The 2018 edition of the WPT500 Los Angeles is now in the books. The tournament drew 2,509 entries who challenged their luck and tested their skills against each other at one of California’s hottest poker destinations – The Bicycle Casino. In the end, it was Michael Copeland who posed for a celebratory picture and then pocketed the first-place prize of $181,950 for outlasting his many opponents.

The final day of the tournament was played on Monday at the host casino. Nine players returned to play the final table and determine the champion. And Copeland led them into that final stage of the game with a massive chip lead.

It was a relatively short day at The Bike. The final table took less than four hours for the start-of-the-day field of nine to be whittled down to the champion. The first elimination occurred half an hour into action when Alexander Beleson’s [Ac][Qs] ran into Jorge Pineda’s pocket aces. An ace on the flopped pretty much sealed it for Pineda, while Beleson hit the rail for $17,790.

Players walked out one after another until there were just two players left at the table. More about the heads-up duel shortly. It is first important to note that Copeland entered the final day of the WPT500 as the chip leader with a massive advantage over the rest in contention with his stack of 19 million. And he never really lost momentum throughout the day.

The eventual champion was the first and only one to pass the 30 million chip mark yesterday. That happened during three-handed play. At that point, he was in possession of half of all chips in play.

Heads-Up

Copeland faced Pineda heads-up. The eventual winner had nearly three times more chips than his final opponent at the time cards were thrown in the air for the two-handed match. And it was not a long battle. It actually took around ten minutes for Copeland to finish off his last opponent.

On what turned out to be the final hand of the tournament, Pineda shoved pre-flop for 10.125 million and Copeland called. The eventual winner flipped over [Ac][Jc] to Pineda’s [10c][9h]. The board ran out [Ad][10s][8c][8s][4s] to bring the tournament to an end. Pineda hit the rail in second place, good for a cash prize of $120,610.

The WPT500 Los Angeles was the second event of the WPT500 series to take place this year, which means that it closed the popular WPT brand’s fifth season. The event featured a record number of starting flights – 16 overall. As mentioned earlier, it attracted a little over 2,509 entries who paid a buy-in fee of $570 to generate a prize pool of $1,254,500. Each of the nine players who played the final table was guaranteed a minimum cash of $17,790. And the winner scooped a first-place prize of $181,950, the WPT500 champion’s trophy and another trophy from the host casino.

The post Michael Copeland Takes Down WPT500 Los Angeles for $181,950 appeared first on Casino News Daily.

Ionut Rusu

partypoker Caribbean Poker Party to Challenge PokerStars' Caribbean Adventure in Bahamas with $22M in Guarantees

BankrollMob News - Poker / Casino / Betting
partypoker Caribbean Poker Party to Challenge PokerStars' Caribbean Adventure in Bahamas with $22M in Guarantees
Who wouldn't want to spend a vacation on a warm sunny beach and play poker this November? Hundreds of players are vying to get a spot for the upcoming partypoker Caribbean Poker Party located in Bahamas, where the poker operator is hoping to make a good impression with a live series in a place that for almost 15 years has been the home of PokerStars Caribbean Adventure. This new segment added to partypoker's LIVE MILLIONS series is scheduled from November 9 to 18, 2018. The setting is the brand[...]