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 based on 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 that they had gambling enterprises in Kansas? Perhaps you just can’t see them through the wheat industries.

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

Incredible 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 down poppies in 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 in fact due to more casinos having been built and opened into the past years that are few. Kansas only made casino gambling appropriate in 2007, and by 2009, it still had just two casinos showing for itself. Now there are six, as well as the state’s treasurers must up be jumping and down like flying monkeys in jubilation (someone stop us).

2012 A Good Year

Although no one could top that 603 percent hike, 15 out of 22 states that have commercial casinos did see more revenue stream from their website in 2012 vs 2011, based on the AGA report. Maryland did nicely, having a 143 percent development spurt, which translates to $377.81 million a year ago compared to $155.7 million last year. As well as in other odd states for gaming growth, Maine held its with a 66.9 % leap: $99.2 million in 2012 vs. simply $59.45 million the year prior.

The best news yet for the casino business is the fact that, based on 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 others.

Now if we could just get them on board with the 21st Amendment that ended Prohibition back 1933, Kansas could be a helluva fun destination to visit.

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 regarding the casino venue, Colony Capital LLC, from selling up to new interested party prior to A new Jersey Superior Court hearing set to take invest mid-May.

Deal Called Off

The PokerStars owners filed a complaint because of the court after Colony Capital LLC’s statement that the pending sale for the casino to Rational Group was off after the gaming operator’s brand 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 permit application if regulators needed submission of more info, 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 financially struggling venue to steadfastly keep up with its bills, after being told by the Atlantic Club they had liabilities of more than $30 million in unfunded pensions, and would be forced into bankruptcy if the sale did not advance.

Leading up to the current termination of the deal by Colony Capital LLC, the PokerStars parent company reportedly approached the investment firm about an expansion on the closing date of the purchase agreement on April 23rd, and presented a written proposal the following day to take the workers on’ compensation claims contrary to the Atlantic Club, most likely as a gesture of royal vegas mobile download 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, as well as on April 26th offered to extend the deadline by just ten days if they decided to pay an additional $6 million, whilst the club retained the best to talk about the purchase with other interested parties in this ten-day expansion 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 all 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’s been termed the ‘padraig harrington of Poker’, has popped up within 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 during a personal game of punto banco, a form of baccarat, final August during the venue.

Punto Banco Wins Unpaid

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

‘we am profoundly saddened that Crockford’s has kept me no alternative but to proceed with legal action,’ stated Ivey in a statement presented by his legal team, including that he has won and lost huge sums of money at the venue in days gone by, and has constantly honored his commitments.

On the night for 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 supply and continued, during the agreement of Crockford’s representatives, to play for £150,000 (a lot more than $230,000) per hand to try and dig himself out of the hole. He then continued to show his losings in to a multimillion lb 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 has Crockford’s, stated that their position, ‘which is supported by strong legal advice, happens to be made specific to Mr. Ivey’s solicitors from the beginning. We will probably be filing our defense shortly’.

Because the game itself involves skill that is minimal and is believed to be 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 trying to get Ivey’s lucky charm. Regardless of Crockford’s suspicions, whatever they might be, you need to really wonder who would get up against Phil Ivey in almost any form of competition. All things considered, the person doesn’t seem to know how to reduce.

FBI Used Taxpayer Funds in Undercover Legends Sports Sting

Some interesting reports that are new shedding light on the U.S. Department of Justice’s indictments against 34 individuals 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 taking care of the case used funds that are federal place bets on sporting events as one of their techniques to catch the illegal operators red-handed.

Misfortune

Termed ‘Operation Bad Luck’, the process involved undercover FBI agents infiltrating the unlawful recreations business that is betting identify suspected bookies in 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 used to place wagers on displaying activities by the undercover agents trying to bust the wrongdoers.

Those assigned to the research also met with suspected bookies to create transactions, such as having to pay losses or collecting winnings throughout 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 versions 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 operation that is near-decade-long 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 member of the FBI’s Oklahoma branch, reported that individuals ‘cannot skirt the guidelines of the United States by establishing up illegal gambling operations in a foreign country, while surviving in the United States and enjoying the great things about U.S. citizens. at the full time of the indictments, Jim Finch’ Apparently they can, they just wind up getting caught.

Since Legends Sports garnered over $1 billion since its inception back in 2003, (that your courts are now trying to take far from them), the unlawful recreations betting world is clearly a lucrative business, the pulse of which is unlikely to stop beating completely any time soon.

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