Kansas Casinos Prove Wizardly in Gaming Revenue Growth

There is no place like home for gross gaming revenue; at least in line with the American Gaming Association’s (AGA) 2012 annual commercial casino market report. While Vegas and Nevada continue to lead the industry in pure gaming revenues, the fastest-growing state is: Kansas. Kansas? Yep, Kansas. Whom even knew that they had 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 into the gaming arena of late), Pennsylvania, New York, and even Ca, Kansas really could possibly be the Land of Oz when it involves bringing in casino customers, it appears. Maybe Glinda, the Good Witch, is dropping them from her magical bubble. Maybe there is simply not great deal else to do there.

Amazing Growth

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

Most of the increase is definitely 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 casinos 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 An Excellent 12 Months

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

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

Temporary Block Placed on Alternate Bid for brand 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 court that is temporary bars the owners associated with casino venue, Colony Capital LLC, from selling up to and including new interested celebration 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 the court after Colony Capital LLC’s declaration that the pending sale associated with casino to Rational Group was down after the gaming operator’s brand New Jersey casino license approval ended up being delayed beyond their originally deadline that is agreed-upon.

Rational Group claims the purchase agreement took into account the possibility of a delay in processing the permit application if regulators needed submission 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 that they had liabilities of more than $30 million in unfunded pensions, and would be forced into bankruptcy if the sale did not advance.

Leading up to the current termination of the deal by Colony Capital LLC, the PokerStars parent company 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 just take the workers on’ compensation claims contrary to the Atlantic Club, most likely as a gesture of goodwill in the hope of gaining favor to expand the due date.

More than a Barrel

The Atlantic Club apparently felt that they had Rational over a barrel, and on April 26th offered to extend the deadline by just ten days if they agreed to spend an additional $6 million, even though the club retained the best to talk about the sale with other interested parties during this extension period that is ten-day.

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 each 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’s 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, last August at the location.

Punto Banco Wins Unpaid

As if being looked at as the absolute 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 that he will let Crockford’s Casino get away with his winnings.

‚we am deeply saddened that Crockford’s has kept me no alternative but to proceed with legal action,’ said Ivey in a statement presented by their legal team, including that he has won and lost huge sums of money at the place in the last, and has constantly 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 show their losses right into a multimillion pound win in just seven hours of play.

Internal Investigation

Crockford’s withheld Ivey’s winnings, but did issue him a receipt, saying 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 owns Crockford’s, stated that their position, ‚which is supported by strong legal advice, happens to be made clear to Mr. Ivey’s lawyers from the beginning. We will be filing our defense shortly’.

Once the game itself involves minimal skill, and is thought to be very nearly impossible to cheat at, perhaps the owners of Crockford’s, whom are thought to be viewing surveillance footage and questioning staff at the venue, are attempting to locate Ivey’s lucky charm. Regardless of Crockford’s suspicions, whatever they might be, you have to really wonder who would get up against Phil Ivey in every as a type of competition. In the end, the person doesn’t seem to understand how to lose.

FBI Used 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 organizations in connection to online gambling operator Legends Sports, alleging that those indicted had been providing online and telephone sports betting services from Costa Rica and Panama. The companies indicted have been accused of assisting the Legends Sports web 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 instance used funds that are federal place wagers on displaying events as one of their techniques to catch the illegal operators red-handed.

Bad Luck

Termed ‚Operation Bad Luck’, the process included undercover FBI agents infiltrating the unlawful sports 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, several thousand federal dollars had been used to place wagers on displaying events by the undercover agents trying to bust the wrongdoers.

Those assigned to your investigation also met with suspected bookies in order to make 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 variations of film scenes.

Ten-Year Investigation

After almost ten years of investigations, the indictments have lead to the Panamanian authorities revoking the permit of Legends Sports, and those accused of the crimes which include money laundering, racketeering and running an unlawful gambling company could face between five and 20 years in the royal vegas login slammer. All in all, the operation that is near-decade-long like a resounding success, even when 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, stated that folks ‚cannot skirt the rules of the United States by establishing up illegal gambling operations in a foreign country, while surviving in the United States and enjoying the advantages of U.S. citizens. at enough 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.