The Delaware land-based casino sector was hit hard by increased competition from new areas in neighboring states, as the more recent and shinier casinos of Pennsylvania and Maryland outperform its three struggling, and highly taxed, racinos.
Dover Downs is Delaware’s biggest and just publicly traded racino, but high domestic taxes and increased competition across the state line means hard times for the house and also the state’s two other racinos.
The sector, which comprises Harrington Raceway, Dover Downs, and Delaware Park, peaked in 2006, the Pennsylvania began issuing its first casino licenses, when slot revenues hit more than $650 million year. By 2016, slots and table revenues combined had plunged to $398 million.
Meanwhile, outfall from the brand new MGM National Harbor, which started in Maryland late final year, stands poised to be the final nail in the coffin. That property caused other casinos in Maryland and West Virginia to ramp up their own marketing drives, drawing even more customers away from Delaware’s ailing properties.
The three racinos cannot compete simply because they spend higher state taxes than their counterparts across the border, and they’re begging legislators for help.
Taxed Out From the Market
This the Delaware’s Video Lottery Advisory Council (VLAC) met to discuss the status of Diamond State’s three casinos week. The council is tasked with advising government policy on gambling and could urge lawmakers to pass a casino relief measure.
However the racinos will have to wait. VLAC will not publish its recommendations until the fall, and until then, it’s maintaining tight-lipped.
Legislation that will have supplied relief by producing marketing and capital credits, while quashing the table game fee and lowering the taxation rate on dining table games, received shrift that is short the General Assembly in 2015 and 2016.
Begging for a Lifeline
While there is sympathy for the racinos’ plight in the legislature, a big budget deficit has made it burdensome for a bill advocating tax relief to achieve much traction. Still, something has become done, says Ed Sutor, president and CEO of Dover Downs Hotel & Casino, as he urged VLAC to put the racinos a lifeline.
Sutor told the Delaware State Information that a concession that is simple could be easily enacted should be to permit the racinos to use on Christmas and Easter, which would make an estimated $2.25 million more.
‘We’re the casinos that are only the country that shut down completely on Easter and Christmas,’ said Sutor. ‘We can’t give up, folks, and we can’t sit out another year of not doing any such thing.’
Impossible Odds? Betting Sites Offer Lines on Political, Celebrity Absurdity
Political betting markets are doing their best to remain relevant because the highly engaging 2016 campaign that is presidential by offering online bettors unique lines on activities that seem to have little possibility of occurring.
Lines on Kid Rock as well as The Rock’s future in government are two areas on offer at governmental wagering websites. (Image: Terry Renna/Associated Press/WWE/Collage by Casino.org)
From Kid Rock’s running for the US Senate to talk associated with Rock building a serious bid for the White home in 2020, political betting networks are trying to maintain a connection between celebrity entertainment and influence that is political. It certainly worked in 2016 with Donald Trump.
Betting on political results is illegal through the US (even in Las Vegas), but American politics is a favorite exotic wager across Europe and elsewhere on the planet.
PredictIt.org provides change betting, which is really a slightly different variant of wager that trades stocks in real time on predicted outcomes of political events. (Exchanges charge a commission on trades in place of establishing odds.)
Kid Rock for Senate?
Musician and avid Trump supporter Kid Rock has recently teased a bid to run for Michigan’s US Senate chair in 2018 against incumbent Democrat Debbie Stabenow (D). Nonetheless, betting cash is currently against Rock officially running.
PredictIt shares of Kid Rock, aka Robert Ritchie, operating can sell for 40 cents, while no, he won’t run shares are at 60 cents. Following a tweet in early July from rap star that showed a yard sign reading ‘Kid Rock for people Senate,’ shares claim that is laying the concept he would certainly run soared to 70 cents.
Rock followed the image with a statement of political philosophy that read, ‘I believe if you work your butt off and pay fees, you must certanly be able to effortlessly navigate the laws, tax codes, wellness care, and other things the government puts in place that affects us all.’
The 46-year-old singer from Michigan hasn’t run for or held elected office, but that did not stop the existing American president. Ritchie reportedly has yet to file official campaign paperwork, however, which undoubtedly factors into why the PredictIt line remains open.
President The Rock
Bettors, of course, need certainly to be mindful not to ever confuse Kid Rock with The Rock. PredictIt is asking whether star Dwayne Johnson will throw their name into the ring for the US presidency in 2020.
A campaign committee called ‘Run the Rock 2020’ recently did file documents with all the Federal Election Committee, which seemed like a larger step in a direction that is serious. The Rock, nevertheless, isn’t actually behind the organization wanting to elect him. It’s instead the ongoing work of a fan who just hopes he’ll run.
Even though the seed’s been planted, enthusiasm for a Rock presidency is rather low on PredictIt. Shares that Johnson will run are trading for 25 cents, while owning ‘no’ will cost you three quarters.
PredictIt’s willingness to offer the market on Johnson despite his public declaration that he is not also considering a 2020 run suggest that celebrity lines with which has no chance of hitting are a popular revenue stream for the exchange.
ElectionBettingOdds.com, meanwhile, provides the actor a 3.5 per cent chance of actually winning the White home, comparable chances it offers for Facebook creator Mark Zuckerberg, who’ll turn 35, the age that is minimum allowed for A us president by the Constitution, in 2019.
Just What Hath Paddy Power Wrought
Sites and areas such as PredictIt may be seeing the value of offering opportunities for wagering on wishful thinking and fears that are irrational but really they have been just following in the footsteps of Paddy Power.
The Irish that is infamous bookmaker the standard for allowing people to bet the unthinkable, at one time asking clients whether or not then-President Barack Obama would be assassinated.
Paddy Power’s present odds regarding the winner of the 2020 election feature Trump as the favorite (2-1), followed by Democratic Massachusetts Sen. Elizabeth Warren and current Vice President Mike Pence at 15-2.
But a slew of ridiculous names are included on the chances sheet. Leonardo DiCaprio (80-1), Kanye western (100-1), Beyoncé (200-1), fictional House of Cards president Kevin Spacey (200-1), and Kim Kardashian (275-1) are just a couple of the picks readily available for those who think they might see something within an longshot that is extreme.
Macau Police Bust Scam ‘Pop Up’ VIP Casino Op
Director of Judiciary Police Chau Wai Kuong said that gaming related criminal activity in the gambling hub stayed ‘serious’ despite the apparent recovery that is economic. (Image: Macau Frequent Times)
Macau authorities have busted a bogus ‘pop-up’ VIP casino racket that bilked high-rollers out of millions in allegedly crooked baccarat games, in line with the South China Morning Post.
The police research began in June after a man told authorities he was defrauded of HK$4 million (around $500,000).
Officers through the Judiciary Police raided an unidentified hotel in the gambling hub on Wednesday, arresting 15 men and four women, all from the Chinese mainland.
They have been accused of luring high-rollers to hotel rooms which the gang had gone to elaborate lengths to disguise as bona fide VIP rooms.
Ruse Meticulously Planned
Police said the ruse, which had been in operation since 2015, was intricately executed and planned, with members of the gang posing as dealers, VIP hosts, VIP room operators, protection guards and shill gamblers to be able to trick their prey.
Four ‘customers’ were based in the process of being scammed when police swooped on according to Macau’s public broadcaster, TDM wednesday.
A lot more than HK$75 million ($9.6 million) worth of gaming chips were found at the scene. While reports failed to specify, it’s likely these were ‘rolling chips,’ non-redeemable tokens issued to rollers that are high casino as credit to gamble with, instead of the kind of chips which can be exchanged directly for cash. HK$200,000 in hard money had been also seized, around US$25,600.
The suspects, aged between 35 and 53, are dealing with numerous charges, ranging from fraud to running a syndicate that is criminal.
Last week, 15 mainlanders had been detained and accused of managing a loan-sharking that is high-interest focusing on casino gamblers on the Cotai Strip.
Taking Crime Seriously
Gaming-related crime has risen in the enclave since Beijing’s anti-corruption drive almost three years ago. The crackdown on the junket industry has place the squeeze on the gambling hub’s criminal underbelly, with reports of the razor-sharp escalation in triad-related crime.
Police have said that the true quantity of illegal detentions, which mainly involve the forced collection of gaming debts by loan-sharking triads, are up 11.8 percent year-on-year, after having almost doubled between 2014 and 2015.
‘Although the performance of Macau’s gaming industry has stabilized since the second 1 / 2 of last year, the crime that is gaming-related remains serious,’director of Judiciary Police Chau Wai Kuong said this week in a statement.
‘We have actually witnessed an increase in the amount of situations of unlawful detention related to loan-sharking operations,’ he added. ‘As such, police have actually strengthened patrols, having detected 20 situations of gaming-related unlawful detention in just one day.’
Macau’s Judiciary Police recorded an overall total of 734 suspected gaming-related crimes in the 1st five months of this year, up by 74 instances in contrast to the corresponding amount of 2016.
Nj’s Chris Christie Urges President Donald Trump and Congress to Support States’ Rights in Online Gaming Battle
New Jersey Governor Chris Christie (R) put his signature on a bill later last week that urges President Donald Trump, members of his management, and Congress to oppose any legislation that will prohibit individual states from authorizing and regulating gambling that is online.
Nj-new jersey State Representative Vincent Mazzeo has authored a bill that asks federal leaders to push back against any measures that could impede states’ right in the gambling that is online, and it is gained the support of Governor Chris Christie. (Image: Jackie Schear/Press of Atlantic City)
Introduced by State Rep. Vincent Mazzeo (D-Northfield) in January, the resolution that is joint to inform the president and Congress how internet casinos are playing a vital role in the recovery of Atlantic City. Of program, it’s an opinion just and another that carries no given fat, as state governments haven’t any input that is direct federal laws.
The main issue is once again the Restoration of America’s Wire Act (RAWA), legislation that would reverse a 2011 US Department of Justice opinion that said the longstanding Wire Act applied just to recreations betting, and perhaps not other kinds of gambling.
Mazzeo’s quality explains, ‘Recent federal measures, such as [RAWA], introduced in the 114th Congress, if pursued by the 115th Congress and supported by President Trump and his management, would prohibit the transmission of cable communication of any bet or bet … including internet gaming.’
A copy of this legislation that is signed being sent to the president, United States House and Senate leaders, Attorney General Jeff Sessions, and various other political powers in Washington, DC.
Internet Gaming Wins
Garden State politicians have plenty of reason to aid Mazzeo’s bill. Atlantic City’s staying seven casino operators are finally posting gains, and online gambling is playing a leading role in the recovery that is fiscal.
Through June, land-based gaming win is up 1.5 percent. However, internet gambling has soared over 28 per cent, bringing the casinos’ important thing to 3.5 percent.
Web gambling has delivered $121.4 million to operators through June, about $26.6 million ahead of where they certainly were this time year that is last.
‘a prohibition that is federal internet gaming would directly and negatively impact New Jersey by dismantling the investments that the State and Atlantic City casinos have currently made,’ Mazzeo explained.
iGaming’s prominent role in revitalizing Atlantic City is the reason why Mazzeo had little difficulty in garnering support for the resolution that is joint. Just a single ‘nay’ vote arrived in from either chamber, State Senator Shirley Turner (D-Mercer) being the lone opponent.
There doesn’t appear to be much enthusiasm in Washington to take up RAWA, or similar anti-online gambling legislation. Past committee hearings in the House and Senate didn’t change the proven fact that most in Congress simply aren’t terribly invested in discussing gaming that is internet at the federal level, a matter that the Republican-controlled Congress would seemingly prefer to leave as much as each state to decide for themselves.
RAWA was introduced into lucky88slotmachine.com their respective chambers by Sen. Lindsey Graham (R-South Carolina) and previous Rep. Jason Chaffetz (R-Utah). It’s largely thought that those actions arrived during the behest of Las Vegas Sands CEO Sheldon Adelson, a effective gop financier who has made it his life’s work to block iGaming.
After lingering for two years, RAWA has not been re-introduced to Congress for the 115th session.
Scott Blumstein Wins $8.15M at World Series of Poker Main Event with Three-Outer on River
Scott Blumstein, a 25-year-old medium stakes poker pro from nj, decided to play their first World group of Poker tournament a couple of weeks ago, the 2017 Main Event. It turned out to be a pretty decision that is good as late into Saturday evening, Blumstein survived an initial industry of over 7,200 entrants to get hold of $8.15 million along with a jewel-encrusted champion’s bracelet worth another half-million.
WSOP 2017 Main Event winner Scott Blumstein, now in a higher tax bracket than he was whenever he joined the World Series of Poker’s most prestigious competition two weeks ago, says fame and fortune will perhaps not change who he is. (Image: ABCNews.com)
It had been not long after midnight Pacific Time on Sunday morning, on hand 256 of the WSOP Main Event final table, Blumstein defeated Pennsylvanian Dan Ott to become poker’s “” new world “” champion.
‘I’m still in shock,’ Blumstein told reporters afterwards. ‘ I thought I would get even more emotional that what I got in real time but it’s just the best feeling, I can not also place it into words.’
First Time’s the Charm
Despite making a living as an on-line grinder back house in nj, this was 1st time Blumstein had ever ventured to the Rio in Las Vegas to play reside in a global Series event.
Utilizing the November Nine concept scrapped in favor of three consecutive segments of final-table play, broadcast with a 30-minute delay by ESPN on Thursday, Friday, and Saturday, Blumstein began the brand new structure final table with a chip lead that is commanding. It was a lead he relinquished only once over the program of the match, whenever jovial crowd favorite and British granddad John Hesp briefly wrestled top spot through the chip-stacking juggernaut.
Hesp busted out in fourth, setting up a night that is final of action between Americans Blumstein and Ott, and France’s Benjamin Pollack.
Two Plus Two Equals $8.15 Million
The Pollack that is short-stacked had to get and was willing getting his chips in and gamble. Ultimately, however, he hit the rail right after 9 o’clock PT, after some intense three-way action.
Pollack shoved from the button with Q-T, while Ott lived as much as their name, coming over the most truly effective (OTT in poker parlance), re-raising all-in from the small blind with K-9. Blumstein saw potential to go on it all down right there, and called from he big blind with A-Q. Blumstein had been ahead pre-flop, and also the entire tournament could have ended then and there. Alternatively, a master on the flop Ott that is tripled-up and Pollack to the rails.
The ultimate moment was postponed for the next 60-odd hands, and when it came, it arrived via a slice of luck for Blumstein, who played sturdily throughout the 10-day event. With all of the chips going in pre-flop, Ott was ahead with A-9 versus Blumstein’s A-2, but one of three remaining deuces hit on the river, ending the Main Event and assuring Blumstein an area in poker history.
The champ that is new that, while the cash is nice, it won’t alter his lifestyle all that much. The Temple University graduate, whom holds an accounting degree, told WSOP officials after their win:
‘just two weeks ago I was a New Jersey online nothing and grinder has really changed.