The Delaware land-based casino sector was hit hard by increased competition from 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 domestic taxes and increased competition across the state line means crisis for the house as well as 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 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 advertising 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 From the Market
This week, the Delaware’s Video Lottery Advisory Council (VLAC) met to discuss the status of Diamond State’s three casinos. 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 maybe not publish its tips until the fall, and until then, it is maintaining tight-lipped.
Legislation that could have supplied relief by creating marketing and capital credits, while quashing the table game fee and lowering the income tax rate on table games, received short shrift in the typical Assembly in 2015 and 2016.
Begging for a Lifeline
While there is sympathy for the racinos’ plight in the legislature, a large budget deficit has managed to make it burdensome for a bill advocating tax relief to gain much traction. Still, something has to be done, says Ed Sutor, president and CEO of Dover Downs Hotel & Casino, as he urged VLAC to put the racinos a lifeline.
Sutor told the Delaware State Information that a concession that is simple could be easily enacted is always to permit the racinos to use on Christmas and Easter, which will make an estimated $2.25 million more.
‘We’re the only casinos in the country that shut down completely on Easter and Christmas,’ said Sutor. ‘We can’t call it quits, folks, and now we can’t sit another year out of not doing any such thing.’
Impossible Odds? Betting Sites Offer Lines on Political, Celebrity Absurdity
Governmental betting markets are doing their best to stay appropriate considering that the highly engaging 2016 presidential campaign, by offering online bettors unique lines on occasions that appear to have little potential for occurring.
Lines on Kid Rock plus The Rock’s future in government are two markets on offer at political wagering sites. (Image: Terry Renna/Associated Press/WWE/Collage by Casino.org)
From Kid Rock’s operating for the US Senate to talk of this Rock making a serious bid for the White House in 2020, political betting networks are attempting to keep a connection between celebrity entertainment and governmental impact. It definitely worked in 2016 with Donald Trump.
Betting on governmental results is illegal throughout the US (also in Las Vegas), but American politics is a popular wager that is exotic Europe and elsewhere on earth.
PredictIt.org provides change betting, which is a slightly different variant of wager that trades shares in real time on predicted outcomes of governmental events. (Exchanges charge a commission on trades in place of establishing 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 chair in 2018 against incumbent Democrat Debbie Stabenow (D). But, betting money is currently against Rock officially operating.
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 revealed a yard sign reading ‘Kid Rock for people Senate,’ shares claim that is laying the idea which he would indeed run soared to 70 cents.
Rock followed the image with a statement of political philosophy that read, ‘we believe you will be able to easily navigate the laws, income tax codes, health care, and whatever else the government puts in position that affects us all. if you work your butt off and pay taxes,’
The 46-year-old singer from Michigan hasn’t run for or held elected office, but that don’t stop the present president that is american. Ritchie apparently has yet to file official campaign paperwork, however, which undoubtedly factors into why the PredictIt line remains open.
President The Rock
Bettors, of program, need to be mindful not to ever confuse Kid Rock with The Rock. PredictIt is asking whether star Dwayne Johnson will throw their name in to the ring for the US presidency in 2020.
A campaign committee called ‘Run the Rock 2020’ recently did file paperwork using the Federal Election Committee, which seemed like a more impressive action in a direction that is serious. The Rock, however, isn’t really behind the organization wanting to elect him. It’s instead the ongoing work of the fan who just 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 is not also considering a 2020 run suggest that celebrity lines with without any chance of striking are a revenue that is popular for the exchange.
ElectionBettingOdds.com, meanwhile, provides the actor a 3.5 percent chance of actually winning the White home, similar 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.
What Hath Paddy Energy Wrought
Sites and markets such as for example PredictIt may be seeing the value of offering opportunities for wagering on wishful thinking and irrational fears, but really they have been just following in the footsteps of Paddy Power.
The infamous Irish bookmaker set the typical for allowing individuals to bet the unthinkable, at onetime asking clients whether or not then-President Barack Obama would be assassinated.
Paddy Power’s current odds regarding the winner of this 2020 election feature Trump as the favourite (2-1), 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 may see something within 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 remained ‘serious’ despite the apparent economic 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 crooked baccarat games, 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) red baron slots 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.
These are typically accused of luring high-rollers to hotel rooms which the gang had gone to elaborate lengths to disguise as genuine VIP rooms.
Ruse Meticulously Planned
Police said the ruse, which have been in operation since 2015, was intricately executed and planned, with members of the gang posing as dealers, VIP hosts, VIP room operators, security guards and shill gamblers to be able to trick their victim.
Four ‘customers’ were found in the procedure to be scammed whenever authorities 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 is likely these had been ‘rolling chips,’ non-redeemable tokens issued to rollers that are high casino as credit to gamble with, rather than the type of chips which can be exchanged directly for cash. HK$200,000 in difficult currency ended up being also seized, around US$25,600.
The suspects, aged between 35 and 53, are dealing with numerous charges, ranging from fraud to running a syndicate that is criminal.
Last week, 15 mainlanders were detained and accused of running a high-interest loan-sharking ring focusing on casino gamblers on 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 place the squeeze in the gambling hub’s unlawful underbelly, with reports of a increase that is sharp triad-related crime.
Police have said that the true 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 second half last year, the gaming-related crime situation remains serious,’director of Judiciary Police Chau Wai Kuong said this week in a statement.
‘We have witnessed an increase in the amount of cases of unlawful detention related to operations that are loan-sharking’ he included. ‘As such, police have actually strengthened patrols, having detected 20 cases of gaming-related unlawful detention in an individual day.’
Macau’s Judiciary Police recorded an overall total of 734 suspected gaming-related crimes in the first five months of this 12 months, up by 74 situations in contrast to the period that is corresponding of.
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 the other day that urges President Donald Trump, members of his administration, and Congress to oppose any legislation that would prohibit individual states from authorizing and regulating 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 gambling that is online, 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 in the recovery of Atlantic City. Of program, it’s an opinion just and something that carries no given fat, as state governments haven’t 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 said the longstanding Wire Act applied only to activities betting, and not other types of gambling.
Mazzeo’s resolution explains, ‘Recent federal measures, such as [RAWA], introduced within the 114th Congress, if pursued by the 115th Congress and supported by President Trump and his management, would prohibit the transmission of wire communication of any bet or bet … including internet video gaming.’
A copy associated with the legislation that is signed 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 recovery that is fiscal.
Through June, land-based gaming win is up 1.5 percent. However, internet gambling has soared over 28 %, bringing the casinos’ bottom line 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 a year ago.
‘A federal prohibition against internet video gaming would directly and negatively impact New Jersey by dismantling the investments that hawaii and Atlantic City casinos have already made,’ Mazzeo explained.
iGaming’s prominent role in revitalizing Atlantic City is why Mazzeo had little trouble 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 House and Senate don’t change the undeniable 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 up to each state to opt for themselves.
RAWA ended up being 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 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 for the 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, made a decision to play their first World number of Poker tournament a few days ago, the 2017 Main Event. It turned out to become a pretty decision that is good as late into Saturday evening, Blumstein survived an initial industry of over 7,200 entrants to collect $8.15 million plus a jewel-encrusted champion’s bracelet worth another half-million.
WSOP 2017 Main Event winner Scott Blumstein, now in a greater tax bracket than he was whenever he entered the planet Series of Poker’s many prestigious tournament a couple of weeks ago, says fame and fortune will perhaps not change whom he is. (Image: ABCNews.com)
It absolutely was not long after midnight Pacific Time on Sunday morning, readily available 256 of the WSOP Main Event table that is final Blumstein defeated Pennsylvanian Dan Ott to be poker’s “” new world “” champion.
‘I’m still in shock,’ Blumstein told reporters afterwards. ‘ I thought I would get even more emotional that the things I got in real time but it’s just the most useful feeling, I can not also put it into terms.’
First Time’s the Charm
Despite generating an income as an online grinder back home in nj-new jersey, this is the initial time Blumstein had ever ventured to the Rio in Las Vegas to play live in a global Series event.
Because of the November Nine concept scrapped in favor of three consecutive portions of final-table play, broadcast with a 30-minute wait by ESPN on Thursday, Friday, and Saturday, Blumstein started the brand new format final table with a commanding chip lead. It was a lead he relinquished only one time over the course of this match, whenever 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 last night of 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 gain and was prepared to have his chips in and gamble. Ultimately, however, he hit the rail right after 9 o’clock PT, after some intense three-way action.
Pollack shoved from the button with Q-T, while Ott lived as much as their title, coming over the utmost effective (OTT in poker parlance), re-raising all-in from the blind that is small K-9. Blumstein saw potential to take it all down right there, and called from he big blind with A-Q. Blumstein was ahead pre-flop, plus the tournament that is entire have ended then and there. Instead, a king on the flop tripled-up Ott and sent Pollack to the rails.
The final moment had been postponed for the next 60-odd hands, and when it came, it came via a piece of luck for Blumstein, who played sturdily throughout the 10-day occasion. A spot in poker history 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 on the river, ending the Main Event and assuring Blumstein.
The brand new champ claims that, while the cash is nice, it won’t alter his lifestyle all that much. The Temple University graduate, whom holds an accounting degree, told WSOP officials after their win:
‘Just two weeks ago I became a New Jersey online grinder and nothing has really changed.