The Delaware land-based casino sector happens to be hit hard by increased competition from new areas 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 over the state line means hard times for the house 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 new MGM nationwide Harbor, which started 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 because they spend higher state taxes than their counterparts across the edge, and they’re begging legislators for help.
Taxed Out of the Market
This week, the Delaware’s Video Lottery Advisory Council (VLAC) met to talk about the status of Diamond State’s three casinos. The council is tasked with advising government policy on gambling and could urge lawmakers to pass a casino relief measure.
However the racinos will need to wait. VLAC will not publish its guidelines until the fall, and until then, it is keeping tight-lipped.
Legislation that will have supplied relief by creating 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
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. Nevertheless, something has to be done, says Ed Sutor, president and CEO of Dover Downs Hotel & Casino, as he urged VLAC to throw the racinos a lifeline.
Sutor told the Delaware State Information that a simple concession that could be easily enacted is to allow the racinos to use on Christmas and Easter, which will make a calculated $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 call it quits, folks, so we can’t sit another year out of not doing anything.’
Impossible Odds? Wagering Sites Offer Lines on Political, Celebrity Absurdity
Governmental betting markets are doing their best to remain relevant considering that the highly engaging 2016 presidential campaign, by offering online bettors unique lines on activities that appear to have little possibility of occurring.
Lines on Kid Rock while The Rock’s future in government are two markets to be had at political sites that are betting. (Image: Terry Renna/Associated Press/WWE/Collage by Casino.org)
From Kid Rock’s operating for the United States Senate to talk of The Rock making a serious bid for the White home in 2020, political betting networks are attempting to maintain a connection between celebrity entertainment and influence that is political. It definitely worked in 2016 with Donald Trump.
Betting on governmental outcomes is illegal through the United States (even in Las vegas, nevada), but American politics is a popular wager that is exotic Europe and elsewhere on earth.
PredictIt.org provides change wagering, which is a slightly different variant of wager that trades shares in real time on predicted outcomes of political events. (Exchanges charge a commission on trades in place 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). Nonetheless, betting money is currently against Rock officially running.
PredictIt shares of Kid Rock, aka Robert Ritchie, operating are selling for 40 cents, while no, he won’t run shares are at 60 cents. Adhering to a tweet in early July from rap star that showed a yard sign reading ‘Kid Rock for US Senate,’ shares claim that is laying the idea that he would indeed run soared to 70 cents.
Rock observed the image with a statement of political philosophy that read, ‘I believe you should be able to easily navigate the laws, tax codes, health care, and anything else the us government puts in position that affects us all. if you work your butt off and pay taxes,’
The 46-year-old singer from Michigan has never run for or held elected office, but that didn’t stop the current 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 careful never to confuse Kid Rock with The Rock. PredictIt is asking whether actor 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 paperwork aided by the Federal Election Committee, which appeared like a more impressive step in a serious way. The Rock, nonetheless, isn’t actually behind the organization trying to elect him. It’s instead the work of a 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’ will 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 recommend that celebrity lines with which has no chance of striking are a popular revenue flow for the exchange.
ElectionBettingOdds.com, meanwhile, offers the actor a 3.5 per cent chance of actually winning the White home, similar odds it offers for Facebook founder Mark Zuckerberg, who can turn 35, the minimum age for allowed for A us president by the Constitution, in 2019.
What Hath Paddy Energy Wrought
Sites and areas such as for instance PredictIt may be seeing the value of offering opportunities for wagering on wishful thinking and irrational fears, but really these are typically just after in the footsteps of Paddy Power.
The infamous Irish bookmaker set the typical for allowing people to bet the unthinkable, at onetime asking clients whether or not then-President Barack Obama would be assassinated.
Paddy Power’s current odds in 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 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 designed for those who think they may see something in 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 economic recovery. (Image: Macau Frequent 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, in line with the South China Morning Post.
The police investigation began in June after a man told authorities he was defrauded of HK$4 million (around $500,000).
Officers from the Judiciary Police raided an unidentified hotel in the gambling hub on Wednesday, arresting 15 males and four women, all from the mainland that is chinese.
They have been accused of luring high-rollers to hotel rooms that the gang had gone to elaborate lengths to disguise as genuine VIP rooms.
Ruse Meticulously Planned
Police said the ruse, which had been in operation since 2015, was intricately prepared and executed, with members of the gang posing as dealers, VIP hosts, VIP room operators, protection guards and shill gamblers in order to trick their prey.
Four ‘customers’ were based in the process to be scammed when police swooped on according to Macau’s public broadcaster, TDM wednesday.
Significantly more than HK$75 million ($9.6 million) worth of gaming chips were bought at the scene. While reports didn’t specify, it is likely these were ‘rolling chips,’ non-redeemable tokens issued to rollers that are high casino as credit to gamble with, instead of the type of chips that may be exchanged directly for cash. HK$200,000 in hard currency was additionally seized, around US$25,600.
The suspects, aged between 35 and 53, are facing numerous charges, ranging from fraud to running a syndicate that is criminal.
Last week, 15 mainlanders had been detained and accused of owning a loan-sharking that is high-interest targeting casino gamblers on the Cotai Strip.
Taking Crime Seriously
Gaming-related crime has risen within 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 unlawful underbelly, with reports of a sharp escalation in triad-related crime.
Police have said that the quantity of illegal detentions, which largely 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 2nd 1 / 2 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 witnessed an upsurge in the amount of instances of unlawful detention related to operations that are loan-sharking’ he included. ‘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 a total of 734 suspected gaming-related crimes in the 1st five months of this year, up by 74 instances in contrast to the corresponding period of 2016.
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 later the other day 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 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 on how internet casinos are playing a vital role in the recovery of Atlantic City. Of course, it’s an opinion only plus one that holds no given fat, as state governments don’t have any input that is direct 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 recreations betting, and perhaps not other types of gambling.
Mazzeo’s quality explains, ‘Recent federal measures, such as [RAWA], introduced within the 114th Congress, if pursued by the 115th Congress and supported by President Trump https://1xbetwebsite.ru/ and his administration, would prohibit the transmission of wire communication of any bet or wager … including internet gaming.’
A copy associated with signed legislation is 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 remaining seven casino operators are finally posting gains, and online gambling is playing a leading role in the fiscal recovery.
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 around year that is last.
‘A federal prohibition against internet gaming would directly and negatively impact brand New Jersey by dismantling the investments that their state and Atlantic City casinos have currently made,’ Mazzeo explained.
iGaming’s prominent part in revitalizing Atlantic City is just why Mazzeo had little difficulty in garnering support for the joint quality. Just a single ‘nay’ vote arrived in from either chamber, State Senator Shirley Turner (D-Mercer) being the lone opponent.
There doesn’t be seemingly much enthusiasm in Washington to take up RAWA, or similar anti-online gambling legislation. Past committee hearings in the home and Senate don’t change the fact that most in Congress simply aren’t terribly invested in discussing internet gaming prohibitions at the federal level, a matter that the Republican-controlled Congress would seemingly prefer to leave as much as each state to choose for themselves.
RAWA had been introduced into their particular chambers by Sen. Lindsey Graham (R-South Carolina) and former Rep. Jason Chaffetz (R-Utah). It’s largely thought that those actions came 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 because of 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, made a decision to play his World Series that is first of tournament a few months ago, the 2017 Main Event. It turned out to become a pretty decision that is good as late into Saturday night, Blumstein survived an initial field of over 7,200 entrants to take home $8.15 million and also a jewel-encrusted champ’s bracelet worth another half-million.
WSOP 2017 Main Event winner Scott Blumstein, now in a greater 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 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 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 also place it into terms.’
First Time’s the Charm
Despite generating an income as an online grinder back house in New Jersey, this was 1st time Blumstein had ever ventured to the Rio in Las vegas, nevada to play are now living in some sort of Series event.
Utilizing the November Nine concept scrapped in favor of three consecutive portions of final-table play, broadcast with a 30-minute delay by ESPN on Thursday, Friday, and Saturday, Blumstein started the new format final 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, setting up a final nights three-handed 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 achieve and was willing to get his chips in and gamble. Ultimately, though, he hit the rail right 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 their name, coming over the most truly effective (OTT in poker parlance), re-raising all-in from the blind that is small 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 king on the flop Ott that is tripled-up and Pollack to the rails.
The final moment ended up being postponed for another 60-odd hands, and when it came, it arrived via a piece of luck for Blumstein, who played sturdily throughout the event that is 10-day. With most 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 a spot in poker history.
The champ that is new that, whilst the money is nice, it will not alter his lifestyle all that much. The Temple University graduate, whom holds an accounting degree, told WSOP officials after his win:
‘simply two weeks hence I became a New Jersey online grinder and nothing has really changed.