There is no place like home for gross gaming revenue; at least in line with the American Gaming Association’s (AGA) 2012 annual casino market report that is commercial. While Vegas and Nevada continue to lead the industry in pure video gaming revenues, the fastest-growing state is: Kansas. Kansas? Yep, Kansas. Whom even knew they’d casinos in Kansas? Maybe you just can not see them through the wheat fields.
Beating out New Jersey (a suggest that has actually been on tilt into the gaming arena of late), Pennsylvania, New York, and even Ca, Kansas really could possibly be the Land of Oz whenever it concerns attracting casino customers, this indicates. Maybe Glinda, the Good Witch, is dropping them from her magical bubble. Maybe there is simply not lot else to accomplish there.
We’re not speaking about doubling or even tripling in development here; nope, Kansas’ gross gaming revenue jumped an unbelievable 603.7 per cent in 2012. Maybe they are handing away poppies into the casinos, but whatever the reason, casino revenues went from $48 million in 2011 to $341 million in 2012.
A lot of the increase is merely due to more casinos having been built and exposed into the past years that are few. Kansas just made casino gambling appropriate in 2007, and by 2009, it still had just two gambling enterprises showing for itself. Now there are six, therefore the state’s treasurers must be leaping up and down like flying monkeys in jubilation (someone stop us).
2012 A Great Year
Although no one could top that 603 percent hike, 15 out of 22 states that have commercial casinos did see more revenue stream from their store in 2012 vs 2011, according to the AGA report. Maryland did nicely, by having a 143 percent growth spurt, which translates to $377.81 million year that is last to $155.7 million last year. And in other states that are odd gaming growth, Maine held a unique with a 66.9 % leap: $99.2 million in 2012 vs. simply $59.45 million the 12 months prior.
The best news yet for the casino business is, based regarding the AGA report, the acceptability of casino gambling has hit an all-time high of 85 percent with People in america, who see it as acceptable both for themselves and others.
Now on board with the 21st Amendment that ended Prohibition back in 1933, Kansas could be a helluva fun place to visit if we could just get them.
Temporary Block Placed on Alternate Bid for New Jersey’s Atlantic Club
As the continuing saga of PokerStars’ attempted entree into the Atlantic City casino market unfolds, Rational Group US Holdings, the parent company of the on-line poker website, successfully gained a court order that places a short-term block on the Atlantic Club casino-hotel owners from selling the venue to a different bidder.
The short-term court order bars the owners regarding the casino venue, Colony Capital LLC, from attempting to sell up to and including new interested celebration prior to a brand new Jersey Superior Court hearing set to take place in mid-May.
Deal Called Off
The PokerStars owners filed a complaint with all the court after Colony Capital LLC’s declaration that the pending purchase of the casino to Rational Group was off after the gaming operator’s brand New Jersey casino license approval ended up being delayed beyond their originally deadline that is agreed-upon.
Rational Group claims the purchase agreement took into account the possibility of a wait in processing the license application if regulators required submission of more information, and insists that Colony Capital LLC has now acted in bad faith.
Contributing to Rational’s arguments would be the fact that they advanced the club $11 million make it possible for the economically struggling venue to maintain with its bills, after being told by the Atlantic Club they had liabilities greater than $30 million in unfunded pensions, and would be forced into bankruptcy in the event that sale did not advance.
Leading up to the current termination of the offer by Colony Capital LLC, the PokerStars moms and dad business reportedly approached the investment company about an extension on the closing date of the purchase agreement on April 23rd, and submitted a written proposition the following day to take the workers on’ compensation claims up against the Atlantic Club, most likely as a gesture of goodwill in the hope of gaining favor to extend the deadline.
Over a Barrel
The Atlantic Club apparently felt that they had Rational over a barrel, and on April 26th offered to extend the due date by simply ten days if they consented to pay an additional $6 million, although the club retained the right to talk about the purchase with other interested parties in this ten-day extension period.
As if they hadn’t kicked enough dirt into the faces of the PokerStars owners, Colony Capital LLC approached the operator the extremely next day, saying they wished to end the purchase agreement, and formally declared the termination of the agreement on May 1st, even after Rational had offered to spend one more $4 million.
Atlantic Club must respond towards the court on all these issues by mid-May.
Phil Ivey Says ‘That’s a Crock’ to Britain’s Oldest Casino
Phil Ivey, the poker pro so good he is been termed the ‘padraig harrington of Poker’, has popped up in the press after filing a £7.3 million ($12.1 million) lawsuit against the earliest casino venue in Britain, Crockford’s Casino.
The poker legend claims the exclusive London-based casino is refusing to payout the £7.3 million in winnings to him which he won during a private game of punto banco, a questionnaire of baccarat, final August at the location.
Punto Banco Wins Unpaid
As if being regarded as the absolute most successful player in poker is not enough for the nine-time World Series of Poker bracelet champion, Ivey is said to have pocketed a $14.6 million fortune from playing punto banco, placing him sixth in the earner ranks that are highest of the card game. But that by no means proposes the idea he will let Crockford’s Casino get away with his winnings.
‘we am profoundly saddened that Crockford’s has kept me no alternative but to proceed with legal action,’ said Ivey in a declaration presented by their legal team, including that he has won and lost huge sums of money at the place in the past, and has constantly honored his commitments.
The rockstar of poker reportedly lost £500,000 (approximately $750,000) playing high stakes punto banco with a young lady on his arm and continued, at the agreement of Crockford’s representatives, to play for £150,000 (more than $230,000) per hand to try to dig himself out of the hole on the night of the big win. He then went on to make his losses in to a multimillion pound win in simply seven hours of play.
Crockford’s withheld Ivey’s winnings, but did issue him a receipt, stating that they needed seriously to conduct an interior investigation, yet not actually divulging the details of exactly what exactly they had been investigating.
A spokesman for Genting, the Malaysian firm which now owns Crockford’s, stated that their position, ‘which is supported by strong legal counsel, happens to be made specific to Mr. Ivey’s solicitors from the start. We shall be filing our defense shortly’.
Once the game itself involves minimal skill, and is thought to be almost impossible to cheat at, perhaps the owners of Crockford’s, whom are said to be viewing surveillance footage and questioning staff at the venue, are attempting to find Ivey’s lucky charm. Aside from Crockford’s suspicions, whatever they could be, you have to really wonder who would get up against Phil Ivey in every type of competition. All things considered, the person doesn’t seem to discover how to lose.
FBI Used Taxpayer Funds in Undercover Legends Sports Sting
Some interesting reports that are new losing light on the U.S. Department of Justice’s indictments against 34 people and 23 companies in connection to on the web gambling operator Legends Sports, alleging that those indicted had been providing online and telephone sports betting services from Costa Rica and Panama. The firms indicted have been accused of assisting the Legends Sports site in getting funds from their players, most of whom were U.S. residents.
Now it’s come to light that undercover FBI agents focusing on the case used federal funds to place wagers on sporting events as one of their techniques to catch the illegal operators red-handed.
Termed ‘Operation Bad Luck’, the process included undercover FBI agents infiltrating the illegal activities business that is betting identify suspected bookies within the Oklahoma area, with the agents acting as easy sports betting customers enjoying a wager or two. By the end of the operation, a huge number of federal dollars had been used to spot wagers on sporting activities by the undercover agents trying to bust the wrongdoers.
Those assigned to the research also met with suspected bookies to make transactions, such as having to pay losses or gathering winnings throughout Oklahoma City. The operatives came across bookies in areas such as for instance parking lots, restaurants and bingo halls, as if acting out real-life variations of movie scenes.
After almost ten years of investigations, the indictments have lead to the Panamanian authorities revoking the license of Legends Sports, and those accused of the crimes which consist of money laundering, racketeering and operating an unlawful gambling business could face between five and 20 years in the slammer. All in all, the near-decade-long operation sounds like a resounding success, even if it is easy to picture the agents having a whale of a time placing bets with the hard-working taxpayers’ money.
A member of the FBI’s Oklahoma branch, stated that folks ‘cannot skirt the laws of the United States by setting up illegal gambling operations in a foreign country, while living in the usa and enjoying the advantages of U.S. citizens. at enough time of the indictments, Jim Finch’ Apparently they can, they just wind up getting caught.
The pulse of which is unlikely to stop beating completely any time soon since Legends Sports garnered over $1 billion since its inception back in 2003, (which the courts are now attempting to take away from them), the illegal sports betting world is clearly a lucrative business.