It’s good to be a casino industry lobbyist or lawyer representing brand new Jersey on the web gaming, based on the latest reports (Image: thepublici.com)
Every person knows that whenever it concerns gambling, the house always wins. In the case of online gambling in New Jersey, it appears that the lobbyists and solicitors do pretty well for themselves, too.
Help Services Make Bank
Based on disclosures posted by the New Jersey Division of Gaming Enforcement, the on line gambling industry has resulted in $50.3 million in payments to lawyers, lobbyists, and other professionals since mid-2009. The numbers arrived just days before the revenue that is first are scheduled to be released for brand New Jersey casino web sites, and are element of an unusual requirement in New Jersey that demands disclosures for many expert payments.
‘Many states have statutes requiring public disclosure of profits by lobbyists, including New Jersey, but this is actually the very first time we have ever heard about a gaming regulatory agency needing disclosure of payments to lawyers,’ said Nicholas Casiello Jr., a lawyer with the Fox Rothschild firm’s gaming team in Atlantic City.
This first report covered everything from July 2009 through December 2013, with future reports being made public for a quarterly basis.
The biggest ‘winner’ in terms of legal solutions was Brownstein Hyatt Farber Schreck, L.L.P., which made $1.89 million in legal charges. That’s in addition to another $2.83 million from activities described as a mix between lobbying, consulting and appropriate services, bringing their total haul to $4.72 million.
However, the disclosures additionally showed exactly how uncertain site operators were about what precisely they had to report. A number of the reports featured payments related to lobbying outside of Internet gaming issues, while others included expenses that came from online gambling efforts in other states.
The level of detail in the reporting diverse greatly as well. The Borgata merely reported two sets of payments: one to a law firm, and another with a group that is lobbying. On the other hand, Amaya Gaming Group and Ultimate Gaming included precisely what might perhaps be relevant, down up to a payment of $19,380 to a mathematician to help develop online games.
Lobbying organizations did rather well, collecting a complete of $3 million from organizations in the industry since 2009. The chunk that is biggest of that money went to Public Strategies Impact, which took in $37,500 every quarter from Caesars Entertainment. Some individuals had been reported to have received payments that are large too: TV poker character Mike Sexton took in between $100,000 and $300,000 per year from Bwin.Party in order to be their brand ambassador.
Not Absolutely All Were Revealing
Probably the more aspect that is surprising of disclosures was which and how many companies involved in New Jersey’s online gambling industry actually complied with the necessity to reveal payments. According to reports, only about 40 percent for the organizations that should have already been required to file ‘Web Gaming Disclosure Statements’ actually bothered to do therefore. However, that number is a bit misleading, as most of the players that are major the industry submitted their statements, while secondary businesses involved in the industry were spottier in their participation.
‘Each of hawaii’s 11 casinos has filed and all sorts of seven of their state’s licensed Internet platform providers have filed the division’s disclosure form,’ stated Lisa Spengler, representative for the Division of Gaming Enforcement. ‘The unit intends to follow along with up with licensed vendors that have actually not yet submitted an answer.’
Unlucky descent that is seven-Year Atlantic City Falls Below $3 Billion
It’s been a run that is seven-year of fortune for Atlantic City’s casinos, revenue-wise. (Image: Moonbeam 13)
It’s amazing exactly what a significant difference seven years will make. Atlantic City which ended up being going strong and winning $5.2 billion from gamblers in 2006 has seen seven straight several years of decreasing revenues, culminating in the town’s 12 (now 11) casinos bringing in less than $3 billion in gambling revenues for the time that is first 22 years in 2013.
The exact figure that was released recently myfreepokies.com by the New Jersey Division of Gaming Enforcement came to $2.86 billion, or close to a five percent drop from the $3 billion the casinos brought in during 2012.
There have been many factors that are contributing the years that have held the losing streak going for Atlantic City’s casinos. But while the 2008 recession plus the damaging ramifications of Hurricane Sandy in 2012 undoubtedly harmed the gambling resort, the number one reason behind the decrease happens to be increased competition from nearby casinos.
In reality, the downturn coincides exactly with the year once the region began getting decidedly more competitive for casino operators overall. A destination closer to home in 2006, the first casino was built in Pennsylvania, giving gamblers especially casual casino visitors. Nowadays there are 12 Pennsylvania casinos, so when of 2012, they were bringing in more money in total than their Atlantic City counterparts.
The decline had real-world implications at the start of 2014, as the Atlantic Club Casino Hotel shut down mid-January, leaving the city with just 11 operating casinos.
Can Online Gambling Save the afternoon?
Nevertheless, industry insiders state in 2014, as the introduction of online gambling should provide a much-needed boost in revenues during the coming year that they expect this trend to reverse itself.
‘Obviously it’s disappointing to see another where it’s a decline,’ said Tony Rodio, head of the Casino Association of New Jersey and president of the Tropicana Casino and Resort, which snatched up a piece of the Atlantic Club and will be taking most of the casino’s gaming equipment year. ‘But hopefully by adding Internet gambling, we think you are going to see an increase in 2014.’
The 2013 figures that are annual the first-ever to consist of online gambling revenue in New Jersey, as hawaii’s Internet casino market exposed in late November. Overall, gambling enterprises took in $8.4 million in winnings during that time. The lion’s share of this revenue had been split between the Borgata and Caesars Interactive, which combined to bring in $6.1 million of that total.
The largest champion of all was the Borgata, which won $3.7 million on its PartyPoker-branded online gambling sites.
‘ Our network has attracted the pool that is largest of players in the brand new Jersey online market, allowing us to offer our customers a wide choice of games and table stakes at all times,’ said Keith Smith, president of Boyd Gaming (a firm that owns half of the Borgata). ‘This gives our community a significant competitive advantage and positions us for further success.’
According to Smith, there is also proof that the online casinos were bringing in additional revenue, rather than simply money that is shifting land-based operations to your Internet.
‘When matching our online and land-based databases, we unearthed that 60 percent of on line casino customers had not been to Borgata in over a year, and over 75 percent had made fewer than two trips to Borgata in the past year,’ said Smith. ‘And on a combined basis, on the web and land-based poker revenue at Borgata was up more than 40 % from our land-based play in December 2012. Clearly, online gaming is complementary to our land-based business, perhaps not competitive.’
Nevertheless, it’s not yet specific whether online gambling will be the city’s economic savior. Overall, casinos took in $222 million in December 2013 including their sites that are online was still down slightly from the $223.5 million they took in during December 2012.
Poker web Site 888 Wants Hakeem Nicks to Add an 8 to His Jersey
NY Giants receiver that is wide Nicks will have an extra ‘8’ on his team jersey, if poker site 888.com gets their method (Image: BSO.com)
In the arena that is overcrowded of to get your name available to you, sometimes you just need certainly to think outside the container. That’s the thinking, apparently, for the marketing geniuses at 888.com, a poker that is online now licensed into the newly launched nj-new Jersey Web casino market, when they offered New York Giants wide receiver Hakeem Nicks $88,800 to legally change his name to 888.com.
Anything for Attention
While pretty obviously merely a publicity stunt getting shmucks like us to write up the story, it’s unlikely that a search for under $89K is going to obtain a pro football player all that excited; heck, these guys spend that much on bottle service on any given Las Vegas week-end. But it’s a catchy news release and an amusing concept. More than that, it’s at least in part in response to week that is last first-time-ever advertising alliance between an on-line poker site partypoker.com and two major sports that are pro: the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils.
Game up on.
Of course, ya gotta have gimmick, as Gypsy Rose Lee once said ( at the very least into the musical about her), and this is 888’s.
‘We’re excited that 888.com is installed and operating in nj-new jersey,’ said 888 Holdings CEO Brian Mattingley. ‘with other area notables as we consider 888 to be the premier gaming site in the Garden State, we thought it was appropriate to align ourselves. We couldn’t think of a more fitting athlete that is local Big Blue’s very own number 88, Hakeem Nicks. We are additionally mindful that Hakeem’s contract is up, so we hope which he sees this as being a motion to stay so when an opportunity to profit a local charity that he supports.’
Never ever hurts to put in a few grouped community feel-good elixir either, does it.
Nicks Not Biting
Also not too surprisingly and vaguely reminiscent of a present cryptocurrency launch that used Kanye West’s name despite the fact that he had no actual involvement with the product Nicks hasn’t responded, let alone said yay or nay. It is been a year that is tough Nicks; he caught 56 passes for 896 yards, giving him an average of 16 yards per catch, and also had 14 catches for 20-plus yards along with his longest going for 57 yards. However, he went the season that is whole reaching the end area.
While nobody really thinks he will simply take 888 up on this imaginative offer at minimum maybe not only at that cost if he did opt to just do it, there is a complete bunch of paperwork to be mindful of, as anybody who’s ever gotten married or divorced can attest. Another one to the Social Security office, passport office and any and all banking institutions, Nicks would have to get a papal blessing from the NFL besides the usual trips to the DMV to change his license.
If that have been to happen and there clearly was the precedent of Ocho Cinco, who changed their title from the more mundane Chad Johnson back in 2008 Nicks would then trade in his current team jersey for a new one saying ‘888’ which would be a publicity victory worth a big pile more than $88,800 for the poker site.