Kansas Casinos Prove Wizardly in Gaming Revenue Growth

Kansas Casinos Prove Wizardly in Gaming Revenue Growth

There’s no place like home for gross gaming revenue; at least according to the American Gaming Association’s (AGA) 2012 annual commercial casino market report. While Vegas and Nevada continue to lead the field in pure video gaming revenues, the fastest-growing state is: Kansas. Kansas? Yep, Kansas. Whom even knew that they had gambling enterprises in Kansas? Perchance you simply can’t see them through the wheat fields.

Beating out nj (a declare that has actually been on tilt in the gaming arena of late), Pennsylvania, New York, and even California, Kansas really could be the Land of Oz when it involves getting casino customers, it seems. Maybe Glinda, the Good Witch, is dropping them from her magical bubble. Maybe there is not lot else to accomplish there.

Incredible Growth

We’re not talking about doubling or even tripling in development here; nope, Kansas’ gross gaming revenue jumped an unbelievable 603.7 percent in 2012. Maybe they’re handing down poppies within the casinos, but regardless of the reason, casino revenues went from $48 million in 2011 to $341 million in 2012.

A lot of the enhance is simply due to more casinos having been built and exposed in the past years that are few. Kansas only made casino gambling legal in 2007, and by 2009, it still had just two gambling enterprises to show for it self. Now there are six, and also the state’s treasurers must up be jumping and down like flying monkeys in jubilation (someone stop us).

2012 a year that is good

Although no body could top that 603 percent hike, 15 away from 22 states that have commercial gambling enterprises did see more revenue flow from their website in 2012 vs 2011, according to the AGA report. Maryland did nicely, by having a 143 percent development spurt, which translates to $377.81 million year that is last to $155.7 million in 2011. As well as in other odd states for gaming growth, Maine held unique with a 66.9 % leap: $99.2 million in 2012 vs. simply $59.45 million the year prior.

The news that is best yet for the casino business is the fact that, based in the AGA report, the acceptability of casino gambling has hit an all-time high of 85 percent with People in america, who see it as acceptable both for themselves and other people.

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 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 temporary court royal vegas slots order bars the owners associated with casino venue, Colony Capital LLC, from selling up to a new interested celebration prior to a brand new Jersey Superior Court hearing set to take invest mid-May.

Deal Called Off

The PokerStars owners filed a complaint with all the court following Colony Capital LLC’s declaration that the pending sale associated with the casino to Rational Group was down after the gaming operator’s 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 wait in processing the license application if regulators needed distribution of more information, and insists that Colony Capital LLC has now acted in bad faith.

Contributing to Rational’s arguments is the fact that they advanced the club $11 million to enable the economically struggling venue to steadfastly keep up with its bills, after being told by the Atlantic Club they had liabilities greater than $30 million in unfunded pensions, and would be forced into bankruptcy if the sale did not advance.

Prior to the current termination of the offer by Colony Capital LLC, the PokerStars parent company apparently approached the investment company about an expansion on the closing date of the purchase agreement on April 23rd, and submitted a written proposition the following day to take the workers on’ compensation claims contrary to the Atlantic Club, likely as a gesture of goodwill in the hope of gaining favor to extend the deadline.

More than a Barrel

The Atlantic Club apparently felt that they had Rational over a barrel, as well as on April 26th offered to extend the due date by just ten days if they consented to spend an additional $6 million, although the club retained the best to go over the purchase with other interested parties with this ten-day extension duration.

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 every 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 is been termed the ‘Tiger Woods of Poker’, has popped up in the press after filing a £7.3 million ($12.1 million) lawsuit against the earliest casino location 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 personal game of punto banco, a questionnaire of baccarat, last August at the location.

Punto Banco Wins Unpaid

As if being looked at as the absolute most successful player in poker isn’t enough for the nine-time World Series of Poker bracelet winner, Ivey is believed 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 idea he will let Crockford’s Casino get away together with his winnings.

‘we am profoundly saddened that Crockford’s has left me no alternative but to proceed with legal action,’ stated Ivey in a declaration presented by their legal team, incorporating that he has won and lost huge amounts of money at the venue in the last, and has always 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 went on to show his losses into a multimillion pound win in just seven hours of play.

Internal Research

Crockford’s withheld Ivey’s winnings, but did issue him a receipt, stating 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, has been made specific to Mr. Ivey’s lawyers from the beginning. We shall be filing our defense shortly’.

Due to the fact game itself involves minimal skill, and is thought to be very nearly impossible to cheat at, perhaps the owners of Crockford’s, who 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 may be, you need to wonder who would really get up against Phil Ivey in just about any type of competition. After all, the man doesn’t appear to discover how to lose.

FBI Used Taxpayer Funds in Undercover Legends Sports Sting

Some interesting new reports are losing light on the U.S. Department of Justice’s indictments against 34 people and 23 businesses in connection to on the web gambling operator Legends Sports, alleging that those indicted were 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 working on the situation used federal funds to place bets on sporting events as one of their tactics to catch the illegal operators red-handed.

Bad Luck

Termed ‘Operation Bad Luck’, the procedure involved undercover FBI agents infiltrating the illegal activities betting business to pinpoint suspected bookies in the Oklahoma area, with the agents acting as simple sports betting customers enjoying a wager or two. By the final end of the operation, a huge number of federal dollars had been utilized to put wagers on sporting activities by the undercover agents trying to bust the wrongdoers.

Those assigned to your research also met with suspected bookies in order to make transactions, such as having to pay losses or gathering winnings throughout Oklahoma City. The operatives came across bookies in areas such as for instance parking lots, restaurants and bingo halls, as if acting out real-life variations 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’s easy to picture the agents having a whale of a time placing bets with the hard-working taxpayers’ money.

A person in the FBI’s Oklahoma branch, claimed that people ‘cannot skirt the laws and regulations of the United States by establishing up illegal gambling operations in a foreign country, while residing in the United States and enjoying the advantages of U.S. citizens. at the full 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.