Kansas Casinos Confirm Wizardly in Gaming Revenue Growth

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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. The fastest-growing state is: Kansas while Vegas and Nevada continue to lead the field in pure gaming revenues. Kansas? Yep, Kansas. Who even knew they had gambling enterprises in Kansas? Perhaps you simply can’t see them through the wheat fields.

Beating out New Jersey (a declare that has actually been on tilt within the gaming arena of late), Pennsylvania, New York, and even California, Kansas really could be the Land of Oz when it comes to attracting casino clients, it appears. Maybe Glinda, the Witch that is good dropping them from her magical bubble. Maybe there is simply not great deal else to accomplish there.

Amazing Growth

We’re not talking about doubling or even tripling in growth here; nope, Kansas’ gross gaming revenue jumped an incredible 603.7 percent in 2012. Maybe they are handing out poppies into the gambling enterprises, but whatever 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 into the past years that are few. Kansas just made casino gambling legal in 2007, and by 2009, it still had just two casinos to show for itself. Now there are six, and also the state’s treasurers must up be jumping and down like flying monkeys in jubilation (somebody stop us).

2012 a year that is good

Although no body could top that 603 percent hike, 15 out of 22 states that have commercial gambling enterprises did see more revenue flow from their website in 2012 vs 2011, in accordance with 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 last year. And in other states that are odd gaming growth, Maine held its with a 66.9 % leap: $99.2 million in 2012 vs. simply $59.45 million the 12 months prior.

The news that is best yet for the casino business is the fact that, based regarding the AGA report, the acceptability of casino gambling has hit an all-time high of 85 percent with Us americans, 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 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 short-term court order bars the owners associated with casino venue, Colony Capital LLC, from offering up to a new interested party prior to a brand new Jersey Superior Court hearing set to take place in mid-May.

Deal Called Off

The PokerStars owners filed a complaint because of the court after Colony Capital LLC’s statement that the pending purchase for the casino to Rational Group was down after the gaming operator’s New Jersey casino license approval had been delayed beyond their originally deadline that is agreed-upon.

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

Increasing Rational’s arguments is that they advanced the club $11 million to enable the financially 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 could be forced into bankruptcy in the event that sale did not advance royal vegas chat.

Leading up to the current termination of the deal by Colony Capital LLC, the PokerStars parent business apparently approached the investment company about an extension on the closing date of the purchase agreement on April 23rd, and submitted a written proposal the following day to take the workers on’ compensation claims against the Atlantic Club, most likely as being a gesture of goodwill in the hope of gaining favor to expand the due date.

Over a Barrel

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

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

Atlantic Club must respond to the court on each one of 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’s 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, an application of baccarat, final August at the location.

Punto Banco Wins Unpaid

As if being looked at as probably 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 earner ranks that are highest of the card game. But that by no means proposes the idea that he will let Crockford’s Casino get away together with winnings.

‘I have always been deeply saddened that Crockford’s has left me no alternative but to proceed with legal action,’ said Ivey in a statement presented by his legal team, incorporating that he has won and lost huge sums of money at the place 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 proceeded to show his losses into a multimillion pound win in simply seven hours of play.

Internal Investigation

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 Malaysian firm which now owns Crockford’s, stated that their position, ‘which is supported by strong legal advice, is made clear to Mr. Ivey’s lawyers right away. We shall be filing our defense shortly’.

Once the game itself involves skill that is minimal and is thought to be almost impossible to cheat at, perhaps the owners of Crockford’s, whom are said to be viewing surveillance footage and questioning staff at the venue, are attempting to find Ivey’s lucky charm. Regardless of Crockford’s suspicions, whatever they may be, you need to really wonder who would go up against Phil Ivey in almost any form of competition. After all, the man doesn’t appear to know how to lose.

FBI Used Taxpayer Funds in Undercover Legends Sports Sting

Some interesting reports that are new losing light on the U.S. Department of Justice’s indictments against 34 individuals and 23 companies in connection to on the web gambling operator Legends Sports, alleging that those indicted had been providing online and telephone sports wagering services from Costa Rica and Panama. The companies 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 working on the situation used funds that are federal place bets on sporting events as one of their techniques to catch the illegal operators red-handed.

Bad Luck

Termed ‘Operation Bad Luck’, the process included undercover FBI agents infiltrating the illegal activities business that is betting pinpoint suspected bookies into the Oklahoma area, with the agents acting as simple sports betting customers enjoying a wager or two. By the end for the operation, 1000s of federal dollars had been utilized to spot wagers on displaying events by the undercover agents trying to bust the wrongdoers.

Those assigned to the research also met with suspected bookies to help make transactions, such as spending losses or winnings that are collecting Oklahoma City. The operatives met bookies in areas such as 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 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.

A person in the FBI’s Oklahoma branch, reported that individuals ‘cannot skirt the rules of the United States by establishing up illegal gambling operations in a foreign country, while surviving in america and enjoying the advantages of U.S. citizens. at the full time of the indictments, Jim Finch’ evidently 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.

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