The Delaware land-based casino sector is struck hard by increased competition from brand new markets in neighboring states, as the newer 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 taxes that are domestic increased competition across the state line means crisis for the home plus 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 exposed 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 pay higher state taxes than their counterparts across the edge, and they’re begging legislators for help.
Taxed Out of 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 through a casino relief measure.
However the racinos will need to wait. VLAC will not publish its suggestions before the fall, and until then, it is maintaining tight-lipped.
Legislation that would have supplied relief by creating marketing and capital credits, while quashing the table game fee and lowering the taxation rate on dining table games, received short shrift in the General Assembly in 2015 and 2016.
Begging for a Lifeline
A large budget deficit has made it difficult for a bill advocating tax relief to gain much traction while there is sympathy for the racinos’ plight in the legislature. 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 simple concession that could be easily enacted is to allow the racinos to operate on Christmas and Easter, which will generate an approximated $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 now we can’t sit out another year of not doing any such thing.’
Impossible Odds? Wagering Sites Offer Lines on Political, Celebrity Absurdity
Political betting markets are doing their best to keep relevant because the highly engaging 2016 campaign that is presidential by offering online bettors unique lines on events that appear to have little possibility of occurring.
Lines on Kid Rock and The Rock’s future in government are two markets to be had at political betting websites. (Image: Terry Renna/Associated Press/WWE/Collage by Casino.org)
From Kid Rock’s running for the United States Senate to talk of this Rock creating a serious bid for the White home in 2020, political betting networks are attempting to maintain a connection between celebrity entertainment and governmental impact. It truly worked in 2016 with Donald Trump.
Betting on governmental outcomes is illegal through the United States (also in Las Vegas), but American politics is a well liked wager that is exotic Europe and elsewhere in the world.
PredictIt.org provides trade wagering, which is really a slightly different variant of wager that trades shares in genuine time on predicted outcomes of governmental events. (Exchanges charge a commission on trades in place of setting odds.)
Kid Rock for Senate?
Musician and Trump that is avid supporter Rock has recently teased a bid to run for Michigan’s US Senate seat in 2018 against incumbent Democrat Debbie Stabenow (D). Nonetheless, betting money is currently against Rock officially operating.
PredictIt shares of Kid Rock, aka Robert Ritchie, running are available 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 claim that is laying the concept that he would indeed run soared to 70 cents.
Rock observed the image with a statement of political philosophy that read, ‘I believe if you work your butt off and pay taxes, you must be able to effortlessly navigate the laws, taxation codes, wellness care, and whatever else 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 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 program, need certainly to be mindful not to confuse Kid Rock with The Rock. PredictIt is asking whether star Dwayne Johnson will throw his name in to the ring for the presidency that is US 2020.
A campaign committee called ‘Run the Rock https://1xbetwebsite.ru/ 2020′ recently did file paperwork utilizing the Federal Election Committee, which seemed like a larger step in a direction that is serious. The Rock, but, isn’t actually behind the organization trying to elect him. It’s instead the work of the fan whom simply 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’ can cost you three quarters.
PredictIt’s willingness to own market on Johnson despite his public declaration that he’s not also considering a 2020 run suggest that celebrity lines with without any possibility of hitting are a revenue that is popular for the exchange.
ElectionBettingOdds.com, meanwhile, offers the actor a 3.5 % chance of actually winning the White home, comparable odds 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 Energy Wrought
Sites and markets such as PredictIt may be seeing the value of offering opportunities for wagering on wishful thinking and fears that are irrational but really they truly are just following in the footsteps of Paddy energy.
The Irish that is infamous bookmaker the standard for allowing individuals to bet the unthinkable, at onetime asking customers whether or not then-President Barack Obama would be assassinated.
Paddy Power’s current odds on the champion associated with the 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 West (100-1), Beyoncé (200-1), fictional home of Cards president Kevin Spacey (200-1), and Kim Kardashian (275-1) are just a couple of the picks designed for those who think they could see something in a 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 financial recovery. (Image: Macau Everyday Times)
Macau authorities have busted a bogus ‘pop-up’ VIP casino racket that bilked high-rollers out of millions in presumably baccarat that is crooked, according to the South China Morning Post.
The police investigation started in after a man told authorities he had been defrauded of HK$4 million (around $500,000) june.
Officers from 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’re accused of luring high-rollers to hotel rooms that the gang had gone to elaborate lengths to disguise as bona fide VIP rooms.
Ruse Meticulously Planned
Police said the ruse, which was indeed 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 so that you can trick their victim.
Four ‘customers’ were found in the process to be scammed whenever police swooped on Wednesday, according to Macau’s 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 type 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 running a criminal syndicate.
Last week, 15 mainlanders were detained and accused of running a high-interest loan-sharking ring targeting casino gamblers regarding the Cotai Strip.
Taking Crime Seriously
Gaming-related crime has risen into the enclave since Beijing’s anti-corruption drive almost 3 years ago. The crackdown on the junket industry has put the squeeze regarding the gambling hub’s unlawful underbelly, with reports of a increase that is sharp triad-related crime.
Police have said that the true number 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 video gaming industry has stabilized since the 2nd half of final 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 upsurge in the number 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 situations in contrast to the period that is corresponding of.
Nj-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 late a week ago that urges President Donald Trump, members of his management, and Congress to oppose any legislation that could prohibit individual states from authorizing and managing gambling that is online.
New Jersey State Representative Vincent Mazzeo has authored a bill that asks federal leaders to break the rules against any measures that will impede states’ right in the online gambling arena, 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 resolution that is joint to inform the president and Congress how internet gambling enterprises are playing a vital role into the recovery of Atlantic City. Of course, it’s an opinion only plus one that carries no given weight, as state governments do not have direct input into 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 viewpoint that said the longstanding Wire Act applied just to activities betting, and perhaps not other forms 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 wire communication of any bet or bet … including internet gaming.’
A copy associated with legislation that is signed being sent to the president, US House and Senate leaders, Attorney General Jeff Sessions, and various 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 publishing gains, and online gambling is playing a leading part in the recovery that is fiscal.
Through June, land-based gaming win is up 1.5 percent. However, internet gambling has soared over 28 percent, bringing the casinos’ bottom line to 3.5 percent.
Online gambling has delivered $121.4 million to operators through June, about $26.6 million ahead of where they were this time a year ago.
‘A federal prohibition against internet gaming would directly and negatively impact New Jersey by dismantling the investments that hawaii and Atlantic City casinos have currently made,’ Mazzeo explained.
iGaming’s prominent part in revitalizing Atlantic City is excatly why Mazzeo had small difficulty in garnering support for the joint quality. Just a single ‘nay’ vote came in from either chamber, State Senator Shirley Turner (D-Mercer) being the opponent that is lone.
There doesn’t seem to be much enthusiasm in Washington to take up RAWA, or similar anti-online gambling legislation. Past committee hearings inside your home and Senate don’t change the proven 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 choose for themselves.
RAWA was introduced into their particular chambers by Sen. Lindsey Graham (R-South Carolina) and Rep. Jason Chaffetz (R-Utah that is former). It’s largely thought that those actions arrived during the behest of Las Vegas Sands CEO Sheldon Adelson, A gop that is powerful financier has made it his life’s work to block iGaming.
After lingering for 2 years, RAWA hasn’t 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 nj, chose to play his World Series that is first of tournament several days ago, the 2017 Main Event. It turned out to be a pretty good decision, as late into Saturday night, Blumstein survived an initial field of over 7,200 entrants to collect $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 much higher tax bracket he entered the World Series of Poker’s most prestigious tournament two weeks ago, says fame and fortune will not change who he is than he was when. (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 feeling that is best, I can’t even put it into words.’
First Time’s the Charm
Despite making a living as an on-line grinder back house in nj-new jersey, this was 1st time Blumstein had ever ventured to the Rio in nevada to play reside in some sort of Series event.
Using the November Nine concept scrapped in favor of three consecutive sections of final-table play, broadcast with a 30-minute wait by ESPN on Thursday, Friday, and Saturday, Blumstein began the new structure last table with a commanding chip lead. It was a lead he relinquished only once over the course for the match, when crowd that is jovial and British granddad John Hesp briefly wrestled top spot through the chip-stacking juggernaut.
Hesp busted out in fourth, establishing up a last nights three-handed 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 achieve and was ready to have his chips in and gamble. Ultimately, however, he hit the rail soon after 9 o’clock PT, after some intense three-way action.
Pollack shoved from the button with Q-T, while Ott lived up to their name, coming over the most 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, therefore the tournament that is entire have ended then and there. Alternatively, a master on the flop tripled-up Ott and sent Pollack to the rails.
The last moment was postponed for another 60-odd hands, and when it came, it came via a slice of luck for Blumstein, who played solidly throughout the 10-day occasion. 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 regarding the river, ending the Main Event and assuring Blumstein a spot in poker history.
The new champ says that, although the money is nice, it’s not going to alter his lifestyle all that much. The Temple University graduate, whom holds an accounting degree, told WSOP officials after their win:
‘Just two weeks hence I happened to be a New Jersey online grinder and nothing has really changed.
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