Kansas Casinos Prove Wizardly in Gaming Revenue Growth

Kansas Casinos Prove 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. Whom even knew they’d gambling enterprises in Kansas? Perchance you just can not see them through the wheat industries.

Beating out nj-new jersey (a declare that has actually been on tilt within the gaming arena of late), Pennsylvania, New York, and even California, Kansas really could be the Land of Oz when it comes to attracting casino clients, it appears. Maybe Glinda, the Good Witch, is dropping them from her magical bubble. Maybe there’s just not lot else to accomplish there.

Amazing Growth

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

Most of the enhance is merely due to more casinos having been built and opened into the past few years. Kansas only made casino gambling legal in 2007, and 2009, it still had just two casinos to show for itself. Now there are six, and also the state’s treasurers must be leaping up and down like flying monkeys in jubilation (somebody stop us).

۲۰۱۲ a year that is good

Although no body could top that 603 percent hike, 15 out of 22 states that have commercial gambling enterprises did see more revenue stream from their website in 2012 vs 2011, according to the AGA report. Maryland did nicely, with a 143 percent development spurt, which translates to $377.81 million year that is last to $155.7 million last year. Plus in other odd states royal vegas live chat for gaming growth, Maine held a unique with a 66.9 percent leap: $99.2 million in 2012 vs. simply $59.45 million the 12 months prior.

The news that is best yet for the casino business is the fact that, based in the AGA report, the acceptability of casino gambling has hit an all-time high of 85 percent with Us citizens, who see it as acceptable both for themselves and others.

Now if we could simply buy them on board with the twenty-first Amendment that ended Prohibition back 1933, Kansas could be a helluva fun place to go to.

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 associated with the casino venue, Colony Capital LLC, from attempting to sell up to and including new interested party 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 associated with casino to Rational Group was down after the gaming operator’s brand New Jersey casino license approval was 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 info, and insists that Colony Capital LLC has now acted in bad faith.

Adding to Rational’s arguments is the fact that they advanced the club $11 million make it possible for the economically struggling venue to steadfastly keep up with its bills, after being told the Atlantic Club they had liabilities greater than $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 Colony Capital LLC, the PokerStars moms and dad business apparently approached the investment firm about an extension on the closing date of the purchase agreement on April 23rd, and submitted a written proposition the following day to take regarding the workers’ compensation claims against the Atlantic Club, likely as a gesture of goodwill in the hope of gaining favor to expand 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 just ten days if they consented to spend an additional $6 million, although the club retained the proper to discuss 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 really overnight, saying they wished to end the purchase agreement, and formally declared the termination of the agreement on May first, even after Rational had provided to pay an additional $4 million.

Atlantic Club must respond to your court on all these issues mid-May.

Phil Ivey Says ‘That’s a Crock’ to Britain’s Oldest Casino

Phil Ivey, the poker pro so good he’s been termed the ‘Tiger Woods of Poker’, has popped up within the press after filing a £7.3 million ($12.1 million) lawsuit against the oldest casino place in Britain, Crockford’s Casino.

The poker legend claims the exclusive casino that is london-based refusing to payout the £7.3 million in winnings to him which he won throughout a personal game of punto banco, a form of baccarat, final August during the place.

Punto Banco Wins Unpaid

As if being regarded as the most successful player in poker isn’t sufficient for the nine-time World Series of Poker bracelet champion, 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 no means proposes the basic idea which he will let Crockford’s Casino get away together with his winnings.

‘we am deeply saddened that Crockford’s has left me no alternative but to proceed with legal action,’ said Ivey in a statement presented his legal team, incorporating that he has won and lost huge amounts of money at the location in days gone by, and has constantly honored his commitments.

In the evening of this big victory, the rockstar of poker reportedly lost £500,000 (approximately $750,000) playing high stakes punto banco having a young woman on their arm and continued, at the contract of Crockford’s representatives, to play for £150,000 (more than $230,000) per hand to attempt to dig himself out of the hole. He then continued to turn their losses right into a multimillion pound win in simply seven hours of play.

Internal Research

Crockford’s withheld Ivey’s winnings, but did issue him a receipt, saying that they had a need to conduct an internal investigation, yet not actually divulging the details of 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 strong legal services, has been made clear to Mr. Ivey’s solicitors from the start. We shall be filing our protection shortly’.

Due to the fact game itself involves minimal skill, and is thought to be very 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, try to get Ivey’s lucky charm. Aside from Crockford’s suspicions, whatever they could be, you need certainly to really wonder who would get up against Phil Ivey in any type of competition. All things considered, the person doesn’t appear to understand how to reduce.

FBI Applied Taxpayer Funds in Undercover Legends Sports Sting

Some interesting brand new reports are shedding light on the U.S. Department of Justice’s indictments against 34 individuals and 23 businesses in connection to online gambling operator Legends Sports, alleging that those indicted were 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 working on the situation used funds that are federal place wagers on sporting events as one of their techniques to catch the illegal operators red-handed.

Bad Luck

Termed ‘Operation Bad Luck’, the method included undercover FBI agents infiltrating the unlawful sports betting business to identify suspected bookies in the Oklahoma area, with the agents acting as simple sports betting customers enjoying a wager or two. By the final end associated with the operation, thousands of federal dollars had been utilized to put wagers on sporting events the undercover agents trying to bust the wrongdoers.

Those assigned towards the research also met with suspected bookies to produce transactions, such as spending losses or winnings that are collecting Oklahoma City. The operatives met bookies in areas such as for example parking lots, restaurants and bingo halls, as if acting out real-life versions of movie 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. In general, the near-decade-long operation noises like a resounding success, also in case 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, claimed that individuals ‘cannot skirt the laws of the United States establishing up illegal gambling operations in a foreign country, while staying in the usa and enjoying the great things about U.S. citizens. at the full time of the indictments, Jim Finch’ Apparently they can, they just wind up getting caught.

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

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