Kansas Casinos Confirm Wizardly in Gaming Revenue Growth

Kansas Casinos Confirm Wizardly in Gaming Revenue Growth

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

Beating out nj (a continuing state that has actually been on tilt in the gaming arena of late), Pennsylvania, New York, and even Ca, Kansas really could possibly be the Land of Oz when it involves attracting casino clients, this indicates. Maybe Glinda, the Witch that is good dropping them from her magical bubble. Maybe there’s simply not a complete lot else to complete there.

Amazing Growth

We’re not speaking about doubling or even tripling in growth here; nope, Kansas’ gross gaming revenue jumped an incredible 603.7 % in 2012. Maybe they are handing away poppies within the gambling enterprises, but regardless of the good reason, casino revenues went from $48 million in 2011 to $341 million in 2012.

A lot of the increase is just due to more casinos having been built and opened in the past few years. Kansas just made casino gambling legal in 2007, and by 2009, it still had just two casinos to exhibit for it self. Now there are six, therefore the state’s treasurers must be leaping up and down like flying monkeys in jubilation (somebody stop us).

2012 Good 12 Months

Although no body could top that 603 percent hike, 15 out of 22 states that have commercial gambling enterprises did see more revenue stream from their store in 2012 vs 2011, based on the AGA report. Maryland did nicely, having a 143 percent growth spurt, which translates to $377.81 million a year ago compared to $155.7 million in 2011. Plus in other states that are odd gaming growth, Maine held unique with a 66.9 percent leap: $99.2 million in 2012 vs. just $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 the us, who see it as acceptable both for themselves and other people.

Now if we’re able to just get them on board with the 21st Amendment that ended Prohibition back in 1933, Kansas is actually a helluva fun place to check out.

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 court that is temporary bars the owners associated with casino venue, Colony Capital LLC, from offering up to and including 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 utilizing the court following Colony Capital LLC’s statement that the pending sale for the casino to Rational Group was down after the gaming operator’s New Jersey casino license approval had been delayed beyond their originally agreed-upon deadline.

Rational Group claims the purchase agreement took into account the possibility of a wait in processing the license application if regulators needed distribution of further information, and insists that Colony Capital LLC has now acted in bad faith.

Increasing Rational’s arguments would be the fact that they advanced the club $11 million to enable the financially struggling venue to maintain with its bills, after being told by the Atlantic Club which they had liabilities of more than $30 million in unfunded pensions, and could be forced into bankruptcy in the event that sale did not advance.

Prior to the present termination of the offer by Colony Capital LLC, the PokerStars moms and dad company reportedly approached the investment company about an expansion on the closing date of the purchase agreement on April 23rd https://casinopokies777.com/royalvegas-casino/, and submitted a written proposition the following day to just 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 due date.

Over a Barrel

The Atlantic Club apparently felt they had Rational over a barrel, and on April 26th offered to extend the deadline by just ten days if they agreed to spend an additional $6 million, while the club retained the right to discuss the sale with other interested parties during this extension period that is ten-day.

As if they hadn’t kicked enough dirt into the faces of the PokerStars owners, Colony Capital LLC approached the operator the very following day, saying they desired to end the purchase agreement, and formally declared the termination of the agreement on May first, even after Rational had provided to pay an additional $4 million.

Atlantic Club must respond to the court on all these presssing 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 into the press after filing a £7.3 million ($12.1 million) lawsuit against the casino venue that is oldest 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 personal game of punto banco, a form of baccarat, final August at the venue.

Punto Banco Wins Unpaid

As if being thought of as the most successful player in poker is not enough for the nine-time World Series of Poker bracelet champion, Ivey is said 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 which he will let Crockford’s Casino get away along with his winnings.

‘we have always been profoundly saddened that Crockford’s has left me no alternative but to proceed with legal action,’ stated Ivey in a declaration presented by his legal team, adding that he has won and lost huge amounts of money at the venue in the past, and has always honored his commitments.

Regarding the night associated with the big win, the rockstar of poker reportedly lost £500,000 (approximately $750,000) playing high stakes punto banco by having a young lady on his arm and continued, during the contract of Crockford’s representatives, to play for £150,000 (more than $230,000) per hand to attempt to dig himself away from the hole. He then proceeded to turn his losses as a multimillion lb win in just seven hours of play.

Internal Investigation

Crockford’s withheld Ivey’s winnings, but did issue him a receipt, saying 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, happens to be made very clear to Mr. Ivey’s lawyers right away. We will be filing our defense shortly’.

Once the game itself involves skill that is minimal and is believed to be very nearly impossible to cheat at, perhaps the owners of Crockford’s, whom are believed to be viewing surveillance footage and questioning staff at the venue, are trying to find Ivey’s lucky charm. Regardless of Crockford’s suspicions, whatever they might be, you have to wonder who would really get up against Phil Ivey in any type of competition. After all, the man doesn’t seem to discover how to reduce.

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 companies in connection to on line gambling operator Legends Sports, alleging that those indicted were offering online and telephone sports wagering services from Costa Rica and Panama. The firms indicted have been accused of assisting the Legends Sports site in getting funds from their players, most of whom were U.S. residents.

Now it’s come to light that undercover FBI agents focusing on the situation used federal funds to place wagers on sporting events as one of their techniques to catch the illegal operators red-handed.

Bad Luck

Termed ‘Operation Bad Luck’, the procedure included undercover FBI agents infiltrating the unlawful recreations betting company to identify suspected bookies into the Oklahoma area, with the agents acting as simple sports betting customers enjoying a wager or two. By the final end associated with the operation, a huge number of federal dollars had been used to put wagers on displaying activities by the undercover agents trying to bust the wrongdoers.

Those assigned towards the research also met with suspected bookies in order to make transactions, such as paying losses or winnings that are collecting Oklahoma City. The operatives came across bookies in areas such as for example parking lots, restaurants and bingo halls, as if acting out real-life variations of film scenes.

Ten-Year Investigation

After almost ten years of investigations, the indictments have lead to the Panamanian authorities revoking the license of Legends Sports, and those accused of the crimes which consist of money laundering, racketeering and operating an illegal gambling company could face between five and 20 years into the slammer. All in all, the near-decade-long operation sounds like a resounding success, even if it’s easy to picture the agents having a whale of a time placing bets with the hard-working taxpayers’ money.

At the time of the indictments, Jim Finch, a person in the FBI’s Oklahoma branch, stated that folks ‘cannot skirt the laws of this usa by installing illegal gambling operations in a international country, while residing in the United States and enjoying the benefits of U.S. citizens.’ 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.