
The Delaware land-based casino sector has been hit hard by increased competition from brand new markets 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 throughout the state line means crisis for the home while the state’s two other racinos.
The sector, which comprises Harrington Raceway, Dover Downs, and Delaware Park, peaked in 2006, the year Pennsylvania began issuing its very first casino licenses, when slot revenues hit more than $650 million. By 2016, slots and table revenues combined had plunged to $398 million.
Meanwhile, outfall from the brand new MGM National Harbor, which exposed in Maryland year that is late last 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 pay higher state taxes than their counterparts across the border, and they’re begging legislators for help.
Taxed From the Market
This week, the Delaware’s Video Lottery Advisory Council (VLAC) met to discuss the status of Diamond State’s three casinos. The council is tasked with advising federal 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 guidelines before the fall, and until then, it is keeping tight-lipped.
Legislation that will have supplied relief by producing marketing and capital credits, while quashing the dining table game fee and lowering the taxation rate on 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 sizable spending plan deficit has caused it to be burdensome for a bill advocating tax relief to achieve much traction. Still, something has to be done, says Ed Sutor, president and CEO of Dover Downs Hotel & Casino, as he urged VLAC to toss the racinos a lifeline.
Sutor told the Delaware State News that a concession that is simple could be easily enacted is always to allow the racinos to work on Christmas and Easter, which may bring in an estimated $2.25 million more.
‚We’re the only casinos in the country that shut down completely on Easter and Christmas,‘ said Sutor. ‚We can not quit, folks, so we can’t sit out another 12 months of not doing any such thing.‘
Impossible Odds? Wagering Sites Offer Lines on Political, Celebrity Absurdity
Political betting markets are doing their best to stay appropriate because the highly engaging 2016 presidential campaign, by offering online bettors unique lines on events that appear to have little chance of occurring.
Lines on Kid Rock as well as The Rock’s future in government are a couple of areas on offer at governmental gambling sites. (Image: Terry Renna/Associated Press/WWE/Collage by Casino.org)
From Kid Rock’s running for the US Senate to talk for the Rock creating a serious bid for the White House in 2020, political betting networks are trying to keep a connection between celebrity entertainment and political influence. It certainly worked in 2016 with Donald Trump.
Betting on political outcomes is illegal throughout the US (even in nevada), but American politics is a favorite exotic wager across Europe and elsewhere in the world.
PredictIt.org provides exchange betting, which really is a slightly different variant of wager that trades shares in genuine time on predicted outcomes of political events. (Exchanges charge a commission on trades instead of setting odds.)
Kid Rock for Senate?
Musician and avid Trump supporter Kid Rock has recently teased a bid to run for Michigan’s US Senate seat in 2018 against incumbent Democrat Debbie Stabenow (D). Nevertheless, betting cash is currently against Rock officially running.
PredictIt shares of Kid Rock, aka Robert Ritchie, running are selling for 40 cents, while no, he won’t run shares are at 60 cents. Following a tweet in early July from rap star that revealed a yard sign reading ‚Kid Rock for people Senate,‘ shares laying claim to the idea that he would indeed run soared to 70 cents.
Rock implemented the image with a statement of political philosophy that read, ‚I believe you should be able to effortlessly navigate the laws, tax codes, health care, and whatever else the federal government places in position that affects us all. if you work your butt off and pay fees,‘
The 46-year-old singer from Michigan hasn’t run for or held elected office, but that did not stop the present American president. Ritchie reportedly has yet to file campaign that is official, however, which undoubtedly factors into why the PredictIt line remains open.
President The Rock
Bettors, of course, have to be careful not to ever confuse Kid Rock with The Rock. PredictIt is asking whether star Dwayne Johnson will throw their name to the ring for the US presidency in 2020.
A campaign committee called ‚Run the Rock 2020‘ recently did file paperwork aided by the Federal Election Committee, which seemed like a larger action in a serious direction. The Rock, nonetheless, isn’t really behind the organization trying to elect him. It’s instead the ongoing work of a fan who merely 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 even considering a 2020 run suggest that celebrity lines with virtually no opportunity of striking are a revenue that is popular for the exchange.
ElectionBettingOdds.com, meanwhile, offers the actor a 3.5 per cent chance of actually winning the White House, comparable odds it offers for Facebook founder Mark Zuckerberg, who will turn 35, the minimum age for allowed for A us president by the Constitution, in 2019.
What Hath Paddy Power Wrought
Sites and markets such as for instance PredictIt may be seeing the value of offering opportunities for wagering on wishful thinking and fears that are irrational but really they are simply following in the footsteps of Paddy Power.
The infamous Irish bookmaker set the conventional for allowing people to bet the unthinkable, at onetime asking clients whether or not then-President Barack Obama would be assassinated.
Paddy Power’s present odds on the winner of this 2020 election feature Trump as the(2-1 that is favorite, 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 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 few of the picks available for those who think they could see something in an extreme longshot.
Macau Police Bust Scam ‚Pop Up‘ VIP Casino Op
Director of Judiciary Police Chau Wai Kuong said that gaming related crime in the gambling hub stayed ’serious‘ despite the apparent financial recovery. (Image: Macau Constant Times)
Macau authorities have busted a bogus ‚pop-up‘ VIP casino racket that bilked high-rollers out of millions in allegedly crooked baccarat games, based on the South China Morning Post.
The police investigation started in June after a man told authorities he was in fact 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 males and four women, all from the Chinese mainland.
These are typically accused of luring high-rollers to hotel rooms that your gang had gone to elaborate lengths to disguise as genuine VIP rooms.
Ruse Meticulously Planned
Police said the ruse, which have been in operation since 2015, was intricately prepared and executed, with members of the gang posing as dealers, VIP hosts, VIP room operators, security guards and shill gamblers in order to trick their victim.
Four ‚customers‘ were found in the procedure to be scammed when authorities swooped on Wednesday, according to Macau’s general public broadcaster, TDM.
Significantly more than HK$75 million ($9.6 million) worth of gaming chips were bought 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, in place of the kind of chips which can be exchanged directly for cash. HK$200,000 in difficult currency had been also seized, around US$25,600.
The suspects, aged between 35 and 53, are dealing with numerous charges, ranging from fraud to managing 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 in the Cotai Strip.
Taking Crime Seriously
Gaming-related crime has risen in the enclave since Beijing’s anti-corruption drive almost 36 months ago. The crackdown on the junket industry has place the squeeze regarding the gambling hub’s unlawful underbelly, with reports of the increase that is sharp triad-related criminal activity.
Police have stated that the 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 50 % of last year, the gaming-related crime situation remains serious,’director of Judiciary Police Chau Wai Kuong said this week in a statement.
‚We have witnessed an escalation in how many 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 an individual day.‘
Macau’s Judiciary Police recorded an overall total of 734 suspected gaming-related crimes in the 1st five months of this 12 months, up by 74 cases compared with the period that is corresponding of.
New Jersey’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 could prohibit individual states from authorizing and managing online gambling.
New Jersey State Representative Vincent Mazzeo has authored a bill that asks federal leaders to rebel against any measures that could impede states‘ right in the gambling that is online, and it’s really 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 joint quality seeks to notify the president and Congress on how internet casinos are playing a vital role within the recovery of Atlantic City. Of course, it’s an opinion just and one that holds no given fat, as state governments don’t have any direct input into federal laws.
The main issue is again the Restoration of America’s Wire Act (RAWA), legislation that would reverse a 2011 US Department of Justice opinion that stated the longstanding Wire Act applied only to activities betting, and not other kinds of gambling.
Mazzeo’s resolution explains, ‚Recent federal measures, such as [RAWA], introduced in the 114th Congress, if pursued by the 115th Congress and supported by President Trump and their 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, US House and Senate leaders, Attorney General Jeff Sessions, and different other political powers in Washington, DC.
Internet Gaming Wins
Garden State politicians have lots of reason to aid Mazzeo’s bill. Atlantic City’s remaining 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 %, 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 these were this time around this past year.
‚a prohibition that is federal internet gaming would directly and negatively impact brand New Jersey by dismantling the investments that the State and Atlantic City casinos have actually already made,‘ Mazzeo explained.
iGaming’s prominent role in revitalizing Atlantic City is just why Mazzeo had small trouble 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 opponent that is lone.
Not Biting
There doesn’t be seemingly much enthusiasm in Washington to take up RAWA, or similar gambling legislation that is anti-online. Previous committee hearings inside your home and Senate did not change the undeniable fact that most in Congress just 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 up to each state to opt for themselves.
RAWA was introduced into their respective chambers by Sen. Lindsey Graham (R-South Carolina) and Rep. Jason Chaffetz (R-Utah that is former). It’s mostly thought that those actions came at 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 just two years, RAWA has not been re-introduced to Congress for its 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 New Jersey, chose to play his first World Series of Poker tournament a couple of months ago, the 2017 Main Event. It switched out to be always a pretty decision that is good as late into Saturday night, Blumstein survived an original field of over 7,200 entrants to take home $8.15 million and also 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 when he joined the planet Series of Poker’s most prestigious tournament two weeks ago, says fame and fortune will maybe not change who he is. (Image: ABCNews.com)
It absolutely was not long after midnight Pacific Time on Sunday morning, readily available 256 of the WSOP Main Event final table, Blumstein defeated Pennsylvanian Dan Ott to be poker’s „“ new world „“ champion.
‚I’m still in shock,‘ Blumstein told reporters afterwards. ‚ I thought I would get even more emotional that the things I got in real time but it is just the most readily useful feeling, I can’t even place it into words.‘
First Time’s the Charm
Despite earning money as an on-line grinder back home in nj, it was the initial 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 sections of final-table play, broadcast with a 30-minute delay by ESPN on Thursday, Friday, and Saturday, Blumstein started the brand new structure final table with a commanding chip lead. It was a lead he relinquished just once over the program of this match, whenever jovial crowd favorite and British granddad John Hesp briefly wrestled top spot through the chip-stacking juggernaut.
Hesp busted out in fourth, establishing 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 short-stacked Pollack had everything to gain and was willing to have his chips in and gamble. Ultimately, however, he hit the rail soon after 9 o’clock PT, after some intense action that is three-way.
Pollack shoved from the button with Q-T, while Ott lived as much as his title, coming over the top (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 was ahead pre-flop, as well as the tournament that is entire have ended then and there. Rather, a master on the flop Ott that is tripled-up and Pollack to the rails.
The last moment had been postponed for another 60-odd hands, and when it came, it arrived via a slice of luck for Blumstein, who played solidly throughout the 10-day event. With all 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 a spot in poker history.
The new champ claims that, while the cash is nice, it’s not going to change his lifestyle all that much. The Temple University graduate, whom holds an accounting level, told WSOP officials after his win:
’simply two weeks hence I was a New Jersey online grinder and nothing has really changed.