Kansas Casinos Prove Wizardly in Gaming Revenue Growth

Kansas Casinos Prove Wizardly in Gaming Revenue Growth

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

Beating out nj (a suggest that has actually been on tilt in the gaming arena of late), Pennsylvania, New York, and even California, Kansas really might be the Land of Oz whenever it comes to 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 great deal 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 per cent in 2012. Maybe they’re 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.

Most of the increase is definitely due to more casinos having been built and opened in the past years that are few. Kansas only 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 jumping up and down like flying monkeys in jubilation (somebody stop us).

2012 An Excellent 12 Months

Although nobody could top that 603 percent hike, 15 out of 22 states that have commercial casinos did see more revenue flow from them in 2012 vs 2011, in accordance with the AGA report. Maryland did nicely, by having a 143 percent development 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. just $59.45 million the year prior.

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

Now if we’re able to simply have them on board with the twenty-first Amendment that ended Prohibition back 1933, Kansas is actually a helluva fun place to go to.

Temporary Block Placed on Alternate Bid for brand New Jersey’s Atlantic Club

As the continuing saga of PokerStars‘ attempted entree into the Atlantic City casino market unfolds, Rational Group US Holdings, the moms and dad company associated with the online poker site, successfully gained a court order that places a temporary block regarding the Atlantic Club casino-hotel owners from selling the venue to another bidder.

The short-term court order bars the owners regarding the casino venue, Colony Capital LLC, from selling up to a new interested celebration 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 following Colony Capital LLC’s statement that the pending purchase of the casino to Rational Group was down 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 https://casinopokies777.com/royalvegas-casino/ processing the license application if regulators needed submission of more information, and insists that Colony Capital LLC has now acted in bad faith.

Adding to Rational’s arguments is 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 greater than $30 million in unfunded pensions, and will be forced into bankruptcy if the sale did not advance.

Prior to the current termination of the deal by Colony Capital LLC, the PokerStars parent company 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 just take the workers on‘ compensation claims from the Atlantic Club, most likely as being 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, as well as on April 26th offered to extend the due date by just ten days if they consented to pay an additional $6 million, while the club retained the best to talk about the purchase with other interested parties during this ten-day expansion period.

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

Atlantic Club must respond to your court on every one of 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 oldest casino venue in Britain, Crockford’s Casino.

The poker legend claims the exclusive London-based casino is refusing to payout the £7.3 million in winnings to him which he won within a private game of punto banco, a form of baccarat, last August during the place.

Punto Banco Wins Unpaid

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

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

On 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 woman on their 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 turn his losses into a multimillion pound win in just seven hours of play.

Internal Research

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 Malaysian firm which now owns Crockford’s, stated that their position, ‚which is supported by strong legal services, is made specific to Mr. Ivey’s solicitors right away. We will probably be filing our defense shortly‘.

Once the game itself involves skill that is minimal and is believed to be nearly impossible to cheat at, perhaps the owners of Crockford’s, whom are said to be viewing surveillance footage and questioning staff at the venue, try to locate Ivey’s lucky charm. Aside from Crockford’s suspicions, whatever they may be, you need to wonder who would really get up against Phil Ivey in any as a type of competition. All things considered, the person doesn’t seem to discover how to get rid of.

FBI Applied Taxpayer Funds in Undercover Legends Sports Sting

Some interesting new reports are shedding light on the U.S. Department of Justice’s indictments against 34 individuals and 23 organizations in connection to on line gambling operator Legends Sports, alleging that those indicted had been providing online and telephone sports gambling services from Costa Rica and Panama. The firms 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 focusing on the situation used federal funds to place wagers on displaying events as one of their strategies to catch the illegal operators red-handed.

Bad Luck

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

Those assigned towards the investigation also met with suspected bookies to make transactions, such as paying losses or gathering winnings throughout Oklahoma City. The operatives met 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

After almost ten years of investigations, the indictments have lead to your Panamanian authorities revoking the permit of Legends Sports, and those accused of the crimes which consist of money laundering, racketeering and operating an unlawful gambling company could face between five and 20 years in the slammer. All in all, the operation that is near-decade-long like a resounding success, also if it is 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 people ‚cannot skirt the laws associated with the usa by setting up illegal gambling operations in a foreign country, while located in the usa and enjoying the advantages of U.S. citizens.‘ 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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