Kansas Casinos Confirm Wizardly in Gaming Revenue Growth

There’s no place like home for gross gaming revenue; at least according to the American Gaming Association’s (AGA) 2012 annual casino market report that is commercial. The fastest-growing state is: Kansas while Vegas and Nevada continue to lead the field in pure gaming revenues. Kansas? Yep, Kansas. Who even knew they had gambling enterprises in Kansas? Maybe you simply can not see them through the wheat areas.

Beating out New Jersey (a declare that has actually been on tilt within the gaming arena of late), Pennsylvania, New York, and even Ca, Kansas really might be the Land of Oz whenever it involves attracting casino clients, this indicates. Maybe Glinda, the Witch that is good dropping them from her magical bubble. Maybe there’s simply not great deal else to do there.

Incredible Growth

We’re not talking about doubling or even tripling in development here; nope, Kansas’ gross gaming revenue jumped an incredible 603.7 percent in 2012. Maybe they are handing away poppies within the gambling enterprises, but whatever the good reason, casino revenues went from $48 million in 2011 to $341 million in 2012.

Most of the increase is actually due to more casinos having been built and opened within the past few years. Kansas just made casino gambling legal in 2007, and by 2009, it still had just two casinos showing for it self. Now there are six, and the https://casinopokies777.com/royalvegas-casino/ state’s treasurers must up be jumping and down like flying monkeys in jubilation (somebody stop us).

2012 a year that is good

Although nobody could top that 603 percent hike, 15 out of 22 states that have commercial gambling enterprises did see more revenue flow from their store in 2012 vs 2011, based on the AGA report. Maryland did nicely, by having a 143 percent development spurt, which translates to $377.81 million year that is last to $155.7 million last year. And in other odd states for gaming growth, Maine held unique with a 66.9 percent 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 that, based in the AGA report, the acceptability of casino gambling has hit an all-time high of 85 percent with Us americans, who see it as acceptable both for themselves and other people.

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

The parent company of the online poker site, successfully gained a court order that places a temporary block on the Atlantic Club casino-hotel owners from selling the venue to another bidder as the continuing saga of PokerStars’ attempted entree into the Atlantic City casino market unfolds, Rational Group US Holdings.

The short-term court order bars the owners regarding the casino venue, Colony Capital LLC, from offering up to new interested celebration prior to a brand new Jersey Superior Court hearing set to take invest mid-May.

Deal Called Off

The PokerStars owners filed a complaint utilizing the court following Colony Capital LLC’s statement that the pending sale of the casino to Rational Group was down after the gaming operator’s brand New Jersey casino license approval ended up being delayed beyond their originally agreed-upon deadline.

Rational Group claims the purchase agreement took into account the possibility of a wait in processing the permit application if regulators needed distribution of more information, and insists that Colony Capital LLC has now acted in bad faith.

Increasing Rational’s arguments is the fact that they advanced the club $11 million make it possible for the financially struggling venue to maintain with its bills, after being told by the Atlantic Club they had liabilities in excess of $30 million in unfunded pensions, and would be forced into bankruptcy if the sale did not advance.

Prior to the recent termination of the offer by Colony Capital LLC, the PokerStars parent business apparently approached the investment firm about an expansion on the closing date of the purchase agreement on April 23rd, and presented a written proposal the following day to take in the workers’ compensation claims from the Atlantic Club, most likely as being a gesture of goodwill in the hope of gaining favor to extend 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 due date by just ten days if they consented to pay an additional $6 million, while the club retained the best to talk about the sale with other interested parties during this extension period that is ten-day.

As if they hadn’t kicked sufficient 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 provided to spend an additional $4 million.

Atlantic Club must respond towards the court on every one of 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 casino venue that is oldest 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 throughout a private game of punto banco, a questionnaire of baccarat, last August at the place.

Punto Banco Wins Unpaid

As if being looked at as the most successful player in poker isn’t 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 basic idea he will let Crockford’s Casino get away along with his winnings.

‘I have always been deeply saddened that Crockford’s has kept me no alternative but to proceed with legal action,’ stated Ivey in a declaration presented by his legal team, incorporating that he has won and lost huge sums of money at the venue in days gone by, and has always honored his commitments.

Regarding the evening associated with the big victory, the rockstar of poker reportedly lost £500,000 (approximately $750,000) playing high stakes punto banco with a young lady on his supply and continued, during the contract of Crockford’s representatives, to relax and play for £150,000 (a lot more than $230,000) per hand to try and dig himself away from the hole. He then proceeded to show their losings right into a multimillion pound win in just seven hours of play.

Internal Research

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 services, happens to be made very clear to Mr. Ivey’s lawyers from the beginning. We shall be filing our defense shortly’.

Since the game itself involves skill that is minimal and is said to be very nearly impossible to cheat at, perhaps the owners of Crockford’s, who are thought 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 might be, you need to wonder who would really get up against Phil Ivey in every type of competition. In the end, the person doesn’t seem to understand how to get rid of.

FBI Applied 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 online gambling operator Legends Sports, alleging that those indicted had been providing 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 focusing on the instance used federal funds to place bets on sporting events as one of their techniques to catch the illegal operators red-handed.

Bad Luck

Termed ‘Operation Bad Luck’, the procedure included undercover FBI agents infiltrating the illegal activities betting business to identify suspected bookies in the Oklahoma area, with the agents acting as easy sports betting customers enjoying a wager or two. By the end associated with the operation, a huge number of federal dollars had been utilized to place wagers on displaying events by the undercover agents trying to bust the wrongdoers.

Those assigned towards the investigation also met with suspected bookies to create transactions, such as spending losses or winnings that are collecting 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 versions of film scenes.

Ten-Year Investigation

The indictments have lead to the Panamanian authorities revoking the license of Legends Sports, and those accused of the crimes which include money laundering, racketeering and operating an illegal gambling business could face between five and 20 years in the slammer after almost ten years of investigations. All in all, the near-decade-long operation noises 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.

At the time of the indictments, Jim Finch, a member of the FBI’s Oklahoma branch, stated that people ‘cannot skirt the laws of this united states of america by creating illegal gambling operations in a international country, while residing in the United States and enjoying the advantages of U.S. citizens.’ Apparently they can, they just wind up getting caught.

Since Legends Sports garnered over $1 billion since its inception back in 2003, (that the courts are now attempting to take away from them), the unlawful activities wagering world is clearly a profitable business, the pulse of which is unlikely to stop beating completely any time in the future.