There isn’t any place like home for gross gaming revenue; at least according to the American Gaming Association’s (AGA) 2012 annual commercial casino market report. While Vegas and Nevada continue to lead the field in pure video gaming revenues, the fastest-growing state is: Kansas. Kansas? Yep, Kansas. Who even knew they had casinos in Kansas? Perchance you just can’t see them through the wheat areas.
Beating out nj-new jersey (a state that has actually been on tilt in the gaming arena of late), Pennsylvania, New York, and even Ca, Kansas really could possibly be the Land of Oz whenever it concerns getting casino customers, it seems. Maybe Glinda, the Witch that is good dropping them from her magical bubble. Maybe there is not lot else to complete there.
We’re not talking about doubling or even tripling in growth here; nope, Kansas’ gross gaming revenue jumped an amazing 603.7 % in 2012. Maybe they are handing down poppies within the gambling enterprises, 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 opened 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 to exhibit for itself. Now there are six, therefore the state’s treasurers must up be jumping and down like flying monkeys in jubilation (somebody stop us).
2012 Good Year
Although nobody could top that 603 percent hike, 15 away from 22 states that have commercial gambling enterprises did see more revenue stream from their store in 2012 vs 2011, based on the AGA report. Maryland did nicely, with a 143 percent growth spurt, which translates to $377.81 million year that is last to $155.7 million last year. As well as in other states that are odd gaming growth, Maine held its own with a 66.9 % leap: $99.2 million in 2012 vs. just $59.45 million the 12 months prior.
The news that is best yet for the casino business is, based in the AGA report, the acceptability of casino gambling has hit an all-time high of 85 percent with Americans, who see it as acceptable both for themselves and other people.
Now if we could simply get them on board with the 21st Amendment that ended Prohibition back in 1933, Kansas could be a helluva fun place to go to.
Temporary Block Placed on Alternate Bid for brand 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 internet poker site, successfully gained a court order that places a temporary block in the Atlantic Club casino-hotel owners from selling the venue to another bidder.
The court that is temporary bars the owners associated with casino venue, Colony Capital LLC, from attempting to sell up to and including new interested celebration prior to A new Jersey Superior Court hearing set to take invest mid-May.
Deal Called Off
The PokerStars owners filed a complaint because of the court following Colony Capital LLC’s statement that the pending sale regarding the casino to Rational Group was off after the gaming operator’s New Jersey casino license approval was delayed beyond their originally agreed-upon deadline.
Rational Group claims the purchase agreement took into account the possibility of a wait in processing the license application if regulators required submission of further information, and insists that Colony Capital LLC has now acted in bad faith.
Contributing to Rational’s arguments is that they advanced the club $11 million to enable the financially struggling venue to maintain with its bills, after being told by the Atlantic Club which they had liabilities in excess of $30 million in unfunded pensions, and will be forced into bankruptcy if the sale did not advance.
Leading up to the present termination of the deal by Colony Capital LLC, the PokerStars moms and dad company reportedly approached the investment firm about an expansion on the closing date of the purchase agreement on April 23rd, and submitted a written proposal the following day to take the workers on’ compensation claims contrary to the Atlantic Club, likely as a gesture of goodwill in the hope of gaining favor to expand the due date.
Over a Barrel
The Atlantic Club apparently felt that they had Rational over a barrel, and on April 26th offered to extend the deadline by simply ten days if they agreed to pay an additional $6 million, as the club retained the proper to go over the sale with other interested parties during this ten-day extension duration.
As they wished to terminate the purchase agreement, and formally declared the termination of the agreement on May 1st, even after Rational had offered to pay an additional $4 million if they hadn’t kicked enough dirt into the faces of the PokerStars owners, Colony Capital LLC approached the operator the very next day, saying.
Atlantic Club must respond towards the court on all of these presssing 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 into the press after filing a £7.3 million ($12.1 million) lawsuit against the earliest casino place 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 form of baccarat, final August at the venue.
Punto Banco Wins Unpaid
As if being thought of as the most successful player in poker is not sufficient for the nine-time World Series of Poker bracelet winner, Ivey is thought 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 which he will let Crockford’s Casino get away with his winnings.
‘I have always been deeply saddened that Crockford’s has kept me no alternative but to proceed with legal action,’ said Ivey in a declaration presented by his legal team, adding that he has won and lost huge sums of money at the venue in days gone by, and has always 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 continued to make his losses in to a multimillion lb win in simply seven hours of play.
Crockford’s withheld Ivey’s winnings, but did issue him a receipt, stating they were investigating that they needed to conduct an internal investigation, yet not actually divulging the details of what exactly.
A spokesman for Genting, the firm that is malaysian now has Crockford’s, stated that their position, ‘which is supported by strong legal advice, was made very clear to Mr. Ivey’s lawyers from the beginning. We will probably be filing our protection shortly’.
Once the game itself involves minimal skill, and is believed to be nearly 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 get Ivey’s lucky charm. Irrespective of Crockford’s suspicions, whatever they may be, you need to wonder who would really get up against Phil Ivey in virtually any form of competition. All things considered, the man doesn’t seem to know how to get rid of.
FBI Used Taxpayer Funds in Undercover Legends Sports Sting
Some interesting reports that are new shedding light on the U.S. Department of Justice’s indictments against 34 people and 23 organizations in connection to on the web gambling operator Legends Sports, alleging that those indicted were offering online and telephone sports wagering 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 taking care of the case used federal funds to place bets on sporting events as one of their strategies to catch the illegal operators red-handed.
Termed ‘Operation Bad Luck’, the method involved undercover FBI agents infiltrating the illegal recreations business that is betting identify suspected bookies into the Oklahoma area, with the agents acting royal vegas online as simple sports betting customers enjoying a wager or two. By the end of the operation, several thousand federal dollars had been used to place wagers on sporting events by the undercover agents trying to bust the wrongdoers.
Those assigned to the investigation also met with suspected bookies to produce transactions, such as paying losses or winnings that are collecting Oklahoma City. The operatives came across bookies in areas such as parking lots, restaurants and bingo halls, as if acting out real-life versions of movie scenes.
After almost ten years of investigations, the indictments have lead to your Panamanian authorities revoking the permit 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 within the slammer. All in all, the near-decade-long operation sounds like a resounding success, even if it’s easy to picture the agents having a whale of a time placing bets with the hard-working taxpayers’ money.
A person in the FBI’s Oklahoma branch, reported that individuals ‘cannot skirt the rules of the United States by establishing up illegal gambling operations in a foreign country, while staying in the United States and enjoying the benefits of U.S. citizens. at the full time of the indictments, Jim Finch’ evidently 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.