Kansas Casinos Prove Wizardly in Gaming Revenue Growth

Kansas Casinos Prove Wizardly in Gaming Revenue Growth

There isn’t any place like home for gross gaming revenue; at least based on the American Gaming Association’s (AGA) 2012 annual casino market report that is commercial. While Vegas and Nevada continue to lead the industry in pure video gaming revenues, the fastest-growing state is: Kansas. Kansas? Yep, Kansas. Whom even knew they’d casinos in Kansas? Perchance you just can’t see them through the wheat fields.

Beating out nj (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 whenever it involves getting casino clients, it appears. Maybe Glinda, the Witch that is good dropping them from her magical bubble. Maybe there’s not great deal else to accomplish there.

Incredible Growth

We’re not speaking about doubling or even tripling in development here; nope, Kansas’ gross gaming revenue jumped an incredible 603.7 percent in 2012. Maybe they truly are handing down poppies within the gambling enterprises, but regardless of the good 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 exposed into the past years that are few. Kansas just made casino gambling appropriate in 2007, and by 2009, it still had just two casinos showing for it self. Now there are six, and the state’s treasurers must up be jumping and down like flying monkeys in jubilation (somebody stop us).

2012 An Excellent Year

Although no-one could top that 603 percent hike, 15 out of 22 states that have commercial casinos did see more revenue flow from them in 2012 vs 2011, in accordance with the AGA report. Maryland did nicely, having a 143 percent development spurt, which translates to $377.81 million last year compared to $155.7 million in 2011. As well as in other odd states for gaming growth, Maine held a unique with a 66.9 % leap: $99.2 million in 2012 vs. just $59.45 million the 12 months prior.

The best news 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 citizens, who see it as acceptable both for themselves and others.

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

As the continuing saga of PokerStars’ attempted entree into the Atlantic City casino market unfolds, Rational Group US Holdings, the moms and dad business for the online poker site, successfully gained a court order that places a short-term block regarding the Atlantic Club casino-hotel owners from selling the venue to another bidder.

The court that is temporary bars the owners of the casino venue, Colony Capital LLC, from selling up to new interested celebration prior to A new Jersey Superior Court hearing set to take place in mid-May.

Deal Called Off

The PokerStars owners filed a complaint utilizing the court following Colony Capital LLC’s declaration that the pending purchase associated with casino to Rational Group was down after the gaming operator’s New Jersey casino license approval had been 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 distribution of further information, and insists that Colony Capital LLC has now acted in bad faith.

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

Leading up to the recent termination of the deal by Colony Capital LLC, the PokerStars parent business reportedly 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 up against the Atlantic Club, most likely as being a gesture of goodwill in the hope of gaining favor to extend 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 by simply ten days if they decided to pay an additional $6 million, although the club retained the proper to go over the sale with other interested parties with this ten-day extension period.

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 to your court on all 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 in 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 within a private game of punto banco, an application of baccarat, last August during the venue.

Punto Banco Wins Unpaid

As if being regarded as probably the most successful player in poker isn’t enough 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 highest earner ranks of the card game. But that by no means proposes the basic idea that he will let Crockford’s Casino get away together with winnings.

‘I am deeply saddened that Crockford’s has kept me no alternative but to proceed with legal action,’ stated Ivey in a declaration presented by their legal team, adding that he has won and lost huge sums of money at the place in yesteryear, and has constantly honored his commitments.

Regarding the night regarding the big victory, the rockstar of poker reportedly lost £500,000 (approximately $750,000) playing high stakes punto banco by having a young lady on his supply and continued, at the agreement of Crockford’s representatives, to relax and play for £150,000 (more than $230,000) per hand to try and dig himself out of the hole. He then went on to make their losings as a multimillion pound win in simply seven hours of play.

Internal Investigation

Crockford’s withheld Ivey’s winnings, but did issue him a receipt, stating that they needed seriously to conduct an interior 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 by strong legal services, is made clear to Mr. Ivey’s solicitors from the beginning. We will probably be filing https://casinopokies777.com/royalvegas-casino/ our defense shortly’.

As the game itself involves minimal skill, and is said 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, are trying to locate Ivey’s lucky charm. No matter Crockford’s suspicions, whatever they might be, you need certainly to wonder who would really get up against Phil Ivey in virtually any kind of competition. In the end, the person doesn’t appear to discover how to lose.

FBI Used 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 people and 23 companies in connection to on line gambling operator Legends Sports, alleging that those indicted had been offering 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 sporting events as one of their tactics to catch the illegal operators red-handed.

Bad Luck

Termed ‘Operation Bad Luck’, the method included undercover FBI agents infiltrating the unlawful recreations business that is betting identify suspected bookies within the Oklahoma area, with the agents acting as simple sports betting customers enjoying a wager or two. By the end regarding the operation, several thousand federal dollars had been used to spot wagers on displaying events by the undercover agents trying to bust the wrongdoers.

Those assigned to your investigation also met with suspected bookies to make transactions, such as spending losses or gathering winnings throughout Oklahoma City. The operatives met bookies in areas such as for instance 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. All in all, the near-decade-long operation noises like a resounding success, also if 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, reported that individuals ‘cannot skirt the laws of the United States by setting up illegal gambling operations in a foreign country, while surviving in america and enjoying the benefits of U.S. citizens. at the time of the indictments, Jim Finch’ Apparently 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.

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