Senate Bill 346 is looking like a favorite at the Nevada Legislature.
The bill would allow investor groups to bet as a single entity much in the way hedge funds pool their money. Proponents of SB346 say it could bring millions of dollars in sports wagering to Nevada, money that now is bet illegally in the 49 other states where such gambling is forbidden.
While that sounds like a dandy idea on the surface, it would change a fundamental element of Nevada law. And although its backers say safeguards could be put in place to ensure transparency, multiple law enforcement sources and Nevada Gaming Control Board Chairman A.G. Burnett are concerned that just the opposite might be the case.
It might bring money, but it almost certainly would bring heat in the form of increased law enforcement scrutiny of the states sports gambling industry.
Heat is something one of SB346s key proponents, Cantor Gaming, knows something about these days. Cantor Gamings Lee Amaitis, who spoke on behalf of the bill at last weeks Senate Judiciary Committee hearing, arched eyebrows in the sports book industry when he touted his friendship with mega-sports bettor Billy Walters in a 2011 60 Minutes broadcast. The entity betting idea is not new to Walters, and Amaitis is a hedge fund expert and former CEO of Cantor Fitzgerald.
As a former dealer and pit boss on the Boardwalk, Mayor Lorenzo Langford is committed to seeing the city’s casino industry recover, despite his well-publicized disputes with New Jersey Gov. Chris Christie over reforms implemented by the state that the mayor says cut him and other city leaders out of the process.
Langford, Atlantic City’s mayor since 2002, was critical of Christie’s reform package that was passed by state lawmakers in 2011 and put authority over the city’s 12 casinos under the state through a newly created tourism district.
In an interview last Friday in his seventh-floor City Hall conference room, Langford said the first two years of Christie’s planned five-year program haven’t shown any notable improvements.
“The numbers don’t lie,” Langford said, citing gaming revenue statistics that showed declines of 6.9 percent in 2011 and 8 percent in 2012. Atlantic City tourism and gaming leaders, however, cite upticks in nongaming areas, such as luxury tax collections, sales taxes and occupied hotel room nights.
When the $550 million SugarHouse Casino opened 28 months ago on a Delaware River waterfront site in South Philadelphia, opponents of the project worried that local businesses would suffer.
Kathy Smith said she hasn’t noticed one bit of difference.
Smith, a tough-talking, streetwise native of South Philly, has spent 25 years working at the city’s cheesesteak landmark Pat’s King of Steaks, which opened in 1930 at the X-shaped intersection of Ninth Street and Passyunk Avenue.
The SugarHouse is roughly four miles from Pat’s. It doesn’t have a hotel and has few dining options. What the casino does offer are 57 table games and 1,600 slot machines, which produced the highest revenue per machine, per day of all Pennsylvania’s 11 casinos, state gaming regulators said.
Poker Gives: In a show of solidarity with clitoral activists worldwide, Pokeratizens at the table this week will be pulling down their hoodies.
Check it out … we love seeing Poker present in popular culture, and Buzzfeed dug up this kinda sexy-funny advert for Ladies Poker at the Adelaide Casino in Australia. The promotion is a few years old, but it made the BF spread honoring International Clitoris Awareness Week, a new real-holiday charity campaign. So this week only especially, do your lady a solid and pay a little extra attention to her pointer, yo.
A big thanks to the Duke of Freemont for being my special guest tonight. An immensely interesting Las Vegas legend. Also Stienski on Weed, where I learn about vaping and butane THC extractions, + moar that I’ve already forgot!
Also, very sorry that DonkDown is in a state of fuck right now, I will have that fixed soon maybe hopefully. If you know mySQL & php and databases and wordpress and shit hit me up please. I am in bad need of your help, I mean just look at this place!
Caesars Entertainment Corp. said last week that it will spin off its interactive gaming business, Planet Hollywood and a planned casino in Baltimore into a separate company owned in part by the casino operator, the company’s stockholders and private equity firms Apollo and TPG.
Apollo Management and TPG Capital are expected to invest a combined $500 million in cash into Caesars Entertainment as part of the deal, which would create a “growth-oriented entity” controlled by Caesars Acquisition Co., a company created to facilitate the transaction.
Caesars Interactive CEO Mitch Garber will serve as CEO of the acquisition company and continue in his role with the interactive division, which owns the World Series of Poker.
In a statement, Caesars Entertainment, which has long-term debt of more than $20 billion, said the transaction would allow the company to fund growth opportunities in “a less levered and more flexible vehicle.”
#1. PokerStars’ apparently failed deal for the Atlantic Club Casino dominated discussion last week. But based on statements from Stars, this story is far from told. Hopefully this week we’ll get some more information about the nature of the contract between PokerStars and the ACC. And if the deal is dead, perhaps we’ll learn more about who is swooping in to buy the ACC out from under Stars. Could it be Station?
#3. Ultimate Poker rode a crush of publicity to a launch that saw reasonable traffic but was riddled with technical trouble. And not everyone thought it was such a big deal. Key thing to watch this week – the performance of next Sunday’s major tournament. It hit the cap of 200 players yesterday, so that’s the bar.
Correction: Last week I wrote that the MA House passed their budget bill with an online poker amendment intact. The amendment was removed prior to passage.
Gaming magnate Steve Wynn met behind closed doors with the governor and legislative leaders Wednesday, proclaiming in a brief interview that the gaming industry is not in a “healthy” condition and future growth will be in places other than Nevada.
“Right now the gaming industry has a serious health problem,” said Wynn in a brief hallway interview.
When asked whether he favored or opposed higher taxes, his response was, “I am not a legislator.”
He visited first privately with Gov. Brian Sandoval in the Capitol, then with legislative leaders such as Senate Majority Leader Mo Denis, D-Las Vegas, and Assembly Speaker Marilyn Kirkpatrick, D-North Las Vegas. She left after only a few minutes.
After speaking with Denis, Wynn went to the office of Senate Minority Leader Michael Roberson, R-Las Vegas, to talk with him.
Chris Reslock $18,200 – WSOP-C Harrah’s Philly $580 NLH
Chris Reslock $8,820 – WSOP-C Harrah’s Philly $365 NLH
Jae Kyung Sim $98,700 – APPT Cebu Main Event
Chris Reslock is having a good week at the WSOP Circuit series in “Philly”. The Atlantic City regular tied Alex Masek for Circuit victories with his 6th ring on Thursday and then took the overall lead early this morning with his 7th title in the short-field $365 NLH tournament. On top of his seven WSOP-C rings, Reslock also has nine other Circuit final tables on his resume, including two runner-up finishes, and a World Series of Poker bracelet in 2007.
In the online world, Ultimate Poker held it’s first “major” tournament with the regularly scheduled Sunday $10,000 guarantee event. The field hit it’s 200 player cap and the first big winner on the site was “d4heals” for just over $4,000. Meanwhile on PokerStars, “friend of Pokerati” Katie Dozier scored her biggest online title for $10,624 (and a soft drink) in their $30,000 2x-Turbo.
Tweet of the Day – Good to see Marafioti is staying well grounded heading into his summer at the WSOP including some weird bet with Yevgeniy Timoshenko. Can’t wait for the 2013 version of the Adzizzy Bunny Hop.
People on 2+2 talk about me non stop. I’m the most talked about, hated, + imitated player in the game. #QuietInPerson+JealousOnline! #UMad?
Lock Poker Shadiness 101 – Lock poker did not have the Best Week Ever. Never a big fan on linking up a 2+2 post because I’m afraid it won’t wash it off the Silkwood shower, but this seems to be the most comprehensive list of things going south for Lock Poker, player cashouts, and the pros who support it via Todd Witless and h/t to @Kevmath.
Clearly my life would be better if it weren’t for that friggin’ flush card.
Nevada online poker is here! Kinda-sorta at least for those not on a Mac and/or Verizon. Dan stops by the offices of the new UltimatePoker.com to find an old-school PokerStars crew manning the Station Casinos outpost, while Dave pops in to a near-Strip location to fund his account with real money he someday hopes to play. Things are looking up for the Vegas Grinders crew, but just to be sure it stays that way, poker’s premier mentalist Jared Tendler pops into the VG virtual studio to see how Dave’s doing, and in the process pumps us full of general life wisdom-science for optimal ways to combat extended downswings, “beaten dog syndrome,” and Mid-WSOP burnout. Yet in the end he tells Dave not to read his new book, WTF?