CZR FTW?
“Poker Poker!”

It feels like we’ve been talking about Caesars going public since before they were Caesars (we have) … but their latest S1/A filing with the SEC suggests not only that CZR really is might be ready to kick it Zynga-style with a big fat IPO … but also that any public offering from the worldwide gambling empire may be in preparation for imminent legalization of US online poker.

While such hefty levels of high finance are still probably a little beyond my ken … you can read the nearly 300 pages of Big Casino corporate speak and decide for yourself. Somewhere in here, I’m pretty sure, is a blueprint for the future of poker and/or online gambling.

At a minimum, I found this snippet on page 7 suggesting that Caesars is getting ready for something big related to online gambling poker:

We believe that additional jurisdictions will legalize online gaming due to consumer demand, a broader understanding of the need to regulate the industry and to generate income through taxes on gaming revenue. As such, we support efforts to regulate the online gaming industry to ensure that consumers are protected. We believe that the potential for online gaming is substantial and believe that we will command, at a minimum, our fair share in any legal jurisdiction. An H2 Gaming Capital study conducted in 2010 projects that the global online gaming market will grow to $36 billion in revenues by 2012. We believe that the largest opportunity in online gaming in the near term is the legalization of online poker in the United States. [emphasis added]

There’s tons more in this document worthy of perusal … some of which I’ve already skimmed. And it doesn’t take much to see how an actual Caesars IPO — not just talk of it — could-well coincide with legalized American online poker hubbub (finally!) reaching critical mass.

Caesars, after all, formerly known as Harrah’s, was a publicly traded company until going private shortly after passage of the UIGEA in 2006. Changed their name to Caesars in November 2010 — the last time they prepped seriously for an IPO (right after their boy Harry Reid won re-election and owed them a favor) only to withdraw plans for a public offering of stock shares right after someone told them the lame-duck online poker Reid bill was just a farce for other political purposes a couple weeks later.

Jamie Gold joins us for an extremely candid interview about the rumors that have been circulating throughout the poker world since he won the 2006 main event (starts at about 67 minutes).  This is a must-listen to interview.  We drop some flavor of local Vegas Rapper Sam Bone Dean on you.  Karina Jett co-hosts as we also talk to the 11-year old jewish wonderboy Menachum and check in with Badguy23 and TMMLgay.  We also start a regular segment, the “Chainsaw Check-in” and we learn about $.01 slot machines and mashed potatoes.  Oddly enough I think I remember pranking the Tropicana poker room before we talk to Jamie Gold about his flophouse Tijuana debts.  OFFICIAL THREAD FOR THE JAMIE GOLD INTERVIEW SHOW.

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I wrote a blog post a week ago suggesting that Brent Beckley, who pleaded guilty on December 20th to two federal counts in the Black Friday indictments, may not be a co-operating witness for the government. This was based on a reading of the press release issued by the US Attorney’s Office for the Southern District of New York (the USAO) and a comparison of what we know of Mr. Beckley’s situation with what we know of Bradley Franzen’s circumstances. Recall that Mr. Franzen pled guilty this past May to three counts associated with the same superseding indictment. Last week’s post was not based on a review of Mr. Beckley’s plea agreement, a copy of which was posted at the Association of Players, Casinos, and Webmasters’ website.

Based on a comparison of Mr. Beckley’s plea agreement with Mr. Franzen’s plea agreement, I’m even more convinced that Mr. Beckley is not a co-operator.

More…

Just read this great new book, “How To Read Hands At No-Limit Hold’ em” by Ed Miller, and I highly recommend it to anyone who plays no limit hold ‘em. It lives up to its title and walks you through a very clear and concise method for figuring out your opponent’s holdings. Be prepared to do the homework that the author gives you to get the most out of the book, just skimming through won’t be enough.

I have always considered myself a very good hand reader and do even more so now, thanks to reading this book. A perhaps unintended benefit from reading this book, for me, was now I have a much better idea of how my hands are being read by other good players. Utilizing this information, I can alter their read of strength or weakness of my own hand in ways that cause them to make mistakes against me.

Miller outlines common tendencies by “Fish, Nits, and Regulars” throughout the book and what motivates them to make the bets, bluffs and raises that they make.  This insight alone is worth investing in this resource.

Trust me, this is a way better use of that Amazon gift card than waiting for the next “Diary of a Wimpy Kid.”

The Memorandum for the Department of Justice’s Assistant Attorney General, Criminal Division, on (the poetically-named) ‘Whether Proposals by Illinois and New York to Use the Internet and Out-of-State Transaction Processors to Sell Lottery Tickets to In-State Adults Violates the Wire Act’ is available here.

On this amazing episode of DonkDown Radio’s “The Cold Call Show” Karina Jett joins us for the second half of the show while Neverheeb kicks us off with his tale of two Craigslist hookups, both at one point willing to “dome him up.”  Brandon and I tell the tale of the epic bender, Menachum drops his NFL picks on a sugar high, Allen Kessler and I discuss tipping and his Matt Savage twitter blockage, Pokerati Dan updates us on Brent Beckley’s guilty plea, Goldfarb got his shmekel waxed and is playin’ great, and John Gumption tries to get to the bottom of Tim Mix’s Venetian firing slush fund whathaveyou.

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Have you done your Christmas shopping yet? Seriously, it’s getting pretty close. I don’t think your mother is going to appreciate that pack of novelty playing cards you found in some old jeans or a clay poker chip stolen from the Pokerati game. Now that I’ve worked you up into a lather, your brain should be in a fit state for having poker news pressed into it. Forget all that Americo-centric nonsense you’ve been hearing about, read on for the skinny from further afield.

Peter Eastgate Jumps in a River

We begin in Denmark, with a former WSOP champion once again demonstrating the sort of unhinged character required to succeed at poker’s most toppest level. Despite already earning enough money to cover Phil Ivey’s divorce settlement, Eastgate couldn’t resist putting his health on the line for an extra $6k. His fellow Danish degenerates bet he couldn’t jump into a freezing river, leap out, and then run to the home of fellow pro Kasper Cordes. Once again, however, Eastgate bested all comers (and hypothermia) to complete the challenge in a mere 20 minutes. [Poker Nyhederne]

Joe Hachem Bids Stars Adieu

Just like every WSOP champion since the poker boom erupted, Eastgate is a member of the PokerStars stable of sponsored players. An illustrious club that included Joe Hachem, until he announced his resignation this week. The second post-Moneymaker World Series winner, Hachem is still Australia’s most recognisable player, even if he hasn’t made any major waves since winning a WPT title in 2005. Hachem claims he is leaving in order to, “pursue other career opportunities,” but the spectre of Black Friday is likely to have factored into his decision. [Card Player]

PokerStars Turbo Explosion

If you find long sessions of poker excessively dull, you’re probably already an ardent proponent of turbo tables. With levels that last less time than it’s taken me to type this sentence, players can be in and out of a tournament in minutes. This week, PokerStars announced plans to string a whole bunch of them together into what will undoubtedly be the fastest online poker series in history. The TCOOP is scheduled to run from Jan. 19th – 29th and will feature tournaments with buy-ins and prizes and things. [Poker News]

Legal Danish Gambling in Effect

Having given Peter Eastgate some time to dry off, we’re back to Denmark for our final story of the week. Following in the footsteps of France and Italy, the Danish have activated their new online gaming legislation, which seeks to operate the kind of regulated market that will have U.S. grinders staring lustily across the ocean. After jiggling all their knobs into place, the government have just handed out their first batch of gambling licenses to companies including PokerStars, PKR, and bwin.party. [Gambling Kingz]

Time for me to curl up into a Christmas coma and absorb rich food, presents, and relentless good cheer. I hope you all have a similarly indulgent Christmas and a New Year’s Eve so excellent you are unable to remember all but the barest details. If not, at least have some good luck. Ho, ho, ho!

Brent Beckley pled guilty in US federal court in Manhattan yesterday to two counts contained in the criminal indictment unveiled in April of this year (United States v. Scheinberg et al). The first count was conspiracy to engage in unlawful Internet gambling, contrary to 18 U.S.C. § 371—this is a general conspiracy provision applied to the purported UIGEA violations. The second count was conspiracy to commit bank fraud and wire fraud, contrary to 18 U.S.C. § 1349, with reference to offences under 18 U.S.C. §§ 1343 and 1344. Mr. Beckley was the “director of payment processing for Absolute Poker,” according to the government’s press release. Vin Narayanan, who indicates that he has read the plea agreement, reports that federal prosecutors have recommended a sentence of between 12 and 18 months and that Mr. Beckley also agreed to forfeit $300,000 as part of his guilty plea.

One of the more intriguing parts of the US Attorney’s press release is the following sentence: “He [Mr. Beckley] is scheduled to be sentenced by United States Judge Lewis A. Kaplan on April 19, 2012, at 4:00 pm.”

Why is that interesting? Because I think it might indicate that Brent Beckley is not (or at least is not thus far) a co-operating witness for the government. I think he’s made his guilty plea to the court, thereby admitting his own involvement, but without rolling over on anyone else.

More…

My bad: Brent Beckley, guilty of online poker.

DOJ prosecutors keep moving up their ladder of bad guys in the unlawful internet gambling case against Isai Scheinberg et al. Brent Beckley, the 31-year-old father of two and a co-owner of Absolute Poker, told a Manhattan judge he did indeed lead a company that deceived US banks to circumvent US law, and acknowledged conspiring with others to commit bank and wire fraud. Beckley will likely serve 12-18 months in prison as part of a plea agreement, Reuters and the New York Times report.

This probably doesn’t bode well for other Black Friday defendants who face more severe charges and still haven’t stepped foot into US court. Though I haven’t seen actual documents on this one yet (readers please feel free to send a link or pdf), I’d be willing to bet (on this-here internet?) that the plea deal does not cut Beckley any slack because Absolute Poker patches said “dot net”.

Say what you will about Full Tilt Poker, but you can’t deny that they played a key role in forever changing the nature of poker entertainment. Even post-Black Friday they continue to do so … only instead of bankrolling the creative efforts, now they merely inspire them (whether all lines are deserved or not):

Song: Full Tilt Poker Blues
Artist: The Donks
Genre: Blues
Release: Sep 2011

I’d like to start this week’s column by congratulating my fellow countryman James Dempsey on his victory at the WPT Five Diamond World Poker Classic. To celebrate, here is a patriotic picture.

British people are required to carry similar images on their person at all times. It’s why we’re such a cynical and self-deprecative nation. That concludes today’s sociology lecture, now it’s time for a barrel-full of news you might have missed.

Irish Up The Rake

Our friends on the Emerald Isle have been having a spot of bother with their economy recently. Something to do with a global recession. Regardless, the trickle down effect is increased taxes levied against online gambling. Inbound legislation will raise the money owed on each bet placed. Woe betide any external operators looking to take Irish currency. The duty on each offshore bets is increasing from 0 to 15% in a move that will earn the government €20 million a year. [Gambling Kingz]

Jacko’s Ball

There’s a new leader in the race for Most Ludicrous Idea Ever, thanks to gaming portal OnlineGamblingPal, who recently unveiled plans to turn some of the late Michael Jackson’s hair into a tasteful roulette ball. It’s what the king of pop would have wanted. Honestly, that’s what they think. A public statement claimed that creating a piece of casino paraphernalia, “seems like a fitting use for [the hair].” Right then. [Rolling Stone]

Randy’s Record

Online grinder nanonoko is already a legend among his peers, but the youthful poker whiz has announced plans to take his stardom to new heights by earning an entry in the Guinness Book of World Records. Randy hasn’t decided exactly which feat of endurance he’d like to attempt and is currently taking suggestions from the denizens of 2+2. The best idea will be carried out at the PokerStars Caribbean Adventure in January. [Poker News Daily]

A French Suit

One big downside to a tightly regulated gambling market is that when things go wrong, it’s the government that takes the hit. And there’s nothing people like more than blaming their government for stuff. Take one unnamed French gambling, addict for example. He contacted the Interior Ministry to have himself added to a list of people excluded from online gambling sites, but thanks to a bureaucratic mix-up, the degenerate in question found himself mysteriously unblocked. He is now suing his government for €100,000 ($133,000). [AFP]

What does a gambling addict buy with that kind of money? Maybe a roulette ball made from the fibres of a dead megastar? Perhaps he could build a whole museum of morbid casino equipment. Hey, that gives me an idea. I must dash, I’ve got a plan to make my millions crafting dealer buttons from Charlie Sheen’s discarded toenail clippings. Au revoir!

What do you do when Drexel returns?  You host a show with him and Karina Jett, and call Sam Grizzle about his partner that got shot while you pretend to be drunk and allude to an extramarital affair.  Then you call an 11 year old Jewish kid for football picks.  Then you call the Tropicana to poke fun at their new “Jamie Gold Poker Room.”  John Gumption tries to get to the bottom of that fail promotion, and gets snapped off clean when he confronts the Venetian about Sheldon Adelson’s opposition to online poker, which Pokerati Dan sets us straight on before his cell phone goes DD.

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Check it out … poker movies seem to be proliferating ever since revelations of crime and darkness made the game semi-dramatic once again. This one, Ace High — not to be confused with the 1968 western of the same name nor the PBR bull that remains unridden after 90+ attempts — seems to be about a privileged extra-smart kid whose online poker success brings in backers … but not before he gets in too deep (presumably with people shadier than he realized) … where he’s sure to lose his hot college romance if he doesn’t win the big one (not to be confused with The Big One for One Drop, which screams for straight-to-DVD release).

No spoiler intended … Just guessing at the plot-line from the Ace High trailer, which is fairly good-lookin’ for an indie movie still seeking funding to complete. Wonder how PokerStars got the product placement … and which online pros may or may not make any on-screen appearances … and whether or not players would have legal rights use of the likeness of their online poker avatars or even screen names:

Have you been thinking about buying an iPad? Do you want to help the PPA in its mission to restore your Internet poker freedoms? Well, now is your chance to kill two birds with one stone, by taking this new poker survey. Working with U.S. Gaming Survey, the PPA has created a poker specific survey to help us better understand the playing community and in turn help us better advocate for your interests in Washington DC. Once you’ve fully completed the survey, your name will be entered into a drawing for a brand new Apple iPad2. The survey is completely anonymous, and your personal information will not be shared with anyone. Click on the button below to begin the survey and help the PPA help you! The survey will remain open until December 30th noon EST. The iPad2 prize winner will be announced on January 3rd, 2012.

We spend so much time reading about poker legal developments here at Pokerati that we sometimes forget to share the relevant news before the cycle turns to something else … and then I complain that our readers here aren’t as smart anymore as they used to be? It doesn’t take a JD to see the flaw in my logic there. Thus, here’s a much-needed batch of recent highlights and hedlines to keep the incessant but important buzz in context … a semi-special link-dump, btw, brought to you by our new-good friends at LegalPokerSites.com:

First UIGEA Conviction in the Books The DOJ logged their first win on UIGEA charges — making the supposedly weak law thus far undefeated — against online sportsbook operator Todd Lyons. His arrest back in May 2010 shoulda been a big warning sign to American online poker operators (and players?) — and Full Tilt specifically — that the DOJ was coming to get them! [CalvinAyre.com]

First Black Friday Trial Date Set John Campos and Chad Elie, the Utah banker and PokerStars payment processor indicted for their role in online poker criminal activity, have a trial date in March … creating a tangible timeline for Black Friday cases and added pressure on the big fish the DOJ really wants — Isai Sheinberg, Ray Bitar, and Scott Tom. [Legal Poker Sites]

MGM Sues Poker Domain Squatters Just as Caesars sued (and won) to obtain the domain WSOP.com, MGM has filed suit to repossess the domains mgmpoker.com, bellagiopoker.com, luxorpoker.com, mandalaybaypoker.com, and ariapoker.com. Apparently the casino giant thinks they’ll have need for them soon. [VegasInc]

Barton Says Online Poker Bill Still Alive This Congress Rep. Joe Barton (R-TX) gave a luncheon keynote at the DGLP, where he spelled out how his online poker bill is moving forward as a piece of stand-alone legislation and/or still could be absorbed into some omnibus bills. Pretty straight-forward, honest-sounding stuff as Barton even talks about his own live real-money play and admits to multi-accounting for play money on PokerStars. [Pokerati Soundcloud]

Adelson Balks at Readiness for Online Poker The poker masses got spun into a tizzy after Vegas politico Jon Ralston “reported” that Las Vegas Sands Chairman Sheldon Adelson has been buzzing around DC that he is morally opposed to online gambling … and that age-verification technology isn’t ready yet. Ralston concludes that this could kill online poker’s chances in Congress as if Adelson alone is more powerful than the combined forces of Caesars, MGM, Steve Wynn, Station Casinos, Boyd Gaming, Michael Gaughan, et al. Quick to cry, some poker players have begun calling for a boycott of Venetian Poker. [Las Vegas Sun]

Nevada Regulations Almost Ready While so many chatter about complex details of future online poker, the Nevada Gaming Commission and State Gaming Control Board seem to be the only ones systematically moving forward with thorough, enforceable rules and regulations for online gaming. In one of the biggest overhauls to state gaming regs in history, they just released a whole bunch of revisions for licensure and suitable ownership that Big and Small casinos alike are paying close attention to. [gaming.NV.gov]

Fry Howie? Funny/sad, shortly after Black Friday I thought we might be seeing T-shirts that said “Free Howard!” not “Fry Howard!” But loyalty can be a fickle bitch when you eff up with someone else’s money. Hence this flash creation for players wishing to express their personal outrage against Full Tilt and Howard Lederer violently. [PokerListings]

UB Player Database Leaked Lots of offline debate over how and why nearly 3 million poker-player IDs leaked out. Work of a disgruntled employee or scuttling the ship before UB ultimately hits sea-floor? And will there be more such pressings of self-destruct? [Haley's Poker Blog]

Rest o’World: Cyprus on Crackdown, South Africa’s Open-Market Mind, German Pre-unification Some of the other key political moves from the rest of the world, as the future of legal online poker (and gambling) actively takes shape … the mediterranean island that isn’t Malta doesn’t have moral opposition, they just want their cut (kinda like Kentucky) … while South Africa continues its progressive-minded movement from staunch opposition to tolerance to active support of online gambling … all while the German province of Schleswig-Holstein’s acceptance of new online poker rules is so big it actually moved some major market needles. [Legal Poker Sites]