Kansas Casinos Confirm Wizardly in Gaming Revenue Growth

Kansas Casinos Confirm 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 industry in pure gaming revenues, the fastest-growing state is: Kansas. Kansas? Yep, Kansas. Who even knew they had casinos in Kansas? Perchance you just can’t see them through the wheat fields.

Beating out nj (a continuing declare that has actually been on tilt within the gaming arena of late), Pennsylvania, New York, and even Ca, Kansas really might be the Land of Oz when it concerns bringing in casino clients, this indicates. Maybe Glinda, the Witch that is good dropping them from her magical bubble. Maybe there is just not a complete lot else to accomplish there.

Incredible Growth

We’re not chatting about doubling or even tripling in development here; nope, Kansas’ gross gaming revenue jumped an amazing 603.7 percent in 2012. Maybe they truly are handing out poppies into the casinos, but regardless of the good reason, casino revenues went from $48 million in 2011 to $341 million in 2012.

Most of the increase is merely due to more casinos having been built and opened in the past years that are few. Kansas just made casino gambling appropriate in 2007, and by 2009, it still had just two gambling enterprises to show for it self. 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 An Excellent Year

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, having a 143 percent development spurt, which translates to $377.81 million year that is last to $155.7 million last year. As well as in other states that are odd gaming growth, Maine held a unique with a 66.9 percent leap: $99.2 million in 2012 vs. just $59.45 million the year prior.

The best news yet for the casino business is that, based in the AGA report, the acceptability of casino gambling has hit an all-time high of 85 percent with Us citizens, who see it as acceptable both for themselves and others.

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

As the continuing saga of PokerStars’ attempted entree into the Atlantic City casino market unfolds, Rational Group US Holdings, the moms and dad business regarding the online poker website, successfully gained a court order that places a short-term block regarding the Atlantic Club casino-hotel owners from selling the venue to some other bidder.

The court that is temporary bars the owners for the casino venue, Colony Capital LLC, from attempting to sell up to a new interested celebration prior to A new Jersey Superior Court hearing set to take place in mid-May.

Deal Called Off

The PokerStars owners filed a complaint utilizing the court after Colony Capital LLC’s declaration that the pending sale of the casino to Rational Group was down after the gaming operator’s New Jersey casino license approval was 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 required distribution of more information, and insists that Colony Capital LLC has now acted in bad faith.

Increasing Rational’s arguments would be the fact that they advanced the club $11 million make it possible for the economically 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 is 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 expansion on the closing date of the purchase agreement on April 23rd, and submitted a written proposal the following day to take regarding the workers’ compensation claims contrary to the Atlantic Club, likely as being a gesture of goodwill in the hope of gaining favor to extend the due date.

More than a Barrel

The Atlantic Club apparently felt that they had Rational over a barrel, and on April 26th offered to extend the deadline by simply ten days if they agreed to spend an additional $6 million, while the club retained the right to discuss 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 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 is been termed the ‘Tiger Woods 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 London-based casino is 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 place.

Punto Banco Wins Unpaid

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

‘I am deeply saddened that Crockford’s has left me no alternative but to proceed with legal action,’ stated Ivey in a statement presented by their legal team, including that he has won and lost huge sums of money at the location in days gone by, and has always honored his commitments.

On the evening associated with the big victory, the rockstar of poker reportedly lost £500,000 (approximately $750,000) playing high stakes punto banco with a young woman 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 and dig himself away from the hole. He then proceeded to turn their losses as a multimillion lb win in just seven hours of play.

Internal Investigation

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 has Crockford’s, stated that their position, ‘which is supported by strong legal services, has been made specific to Mr. Ivey’s lawyers from the beginning. We will probably be filing our defense shortly’.

Since the game itself involves skill that is minimal and is believed to be very nearly impossible to cheat at, perhaps the owners of Crockford’s, whom are thought to be viewing surveillance footage and questioning staff at the venue, try to get Ivey’s lucky charm. Regardless of Crockford’s suspicions, whatever they may be, you need certainly to wonder who would really get up against Phil Ivey in every form of competition. In the end, the person doesn’t seem to discover how to lose.

FBI Applied 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 organizations in connection to on line gambling operator Legends Sports, alleging that those indicted had been offering online and telephone sports gambling services from Costa Rica and Panama. The firms 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 focusing on the situation used federal funds to place wagers on sporting events as one of their tactics to catch the illegal operators red-handed.

Bad Luck

Termed ‘Operation Bad Luck’, the process included undercover FBI agents infiltrating the illegal 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 associated with operation, tens of thousands of federal dollars had been used to spot wagers on displaying activities by the undercover agents trying to bust the wrongdoers.

Those assigned to your research also met with suspected bookies to produce transactions, such as spending losses or collecting winnings throughout Oklahoma City. The operatives met bookies in areas such as parking lots, restaurants and bingo halls, as if acting out real-life versions of film scenes.

Ten-Year Investigation

After almost ten years of investigations, the indictments have lead to the Panamanian authorities revoking the license of Legends Sports, and those accused of the crimes which consist of money laundering, racketeering and operating an unlawful gambling business could face between five and 20 years into the slammer. In general, the operation that is near-decade-long like a resounding success, also if it’s easy to picture the agents having a whale of a time placing bets with the hard-working taxpayers’ money.

During the time of the indictments, Jim Finch, a person in the FBI’s Oklahoma branch, stated that individuals ‘cannot skirt the laws associated with usa by establishing illegal gambling operations in a foreign country, while surviving in the usa and enjoying the advantages of U.S. citizens.’ evidently they can https://casinopokies777.com/royalvegas-casino/, they just wind up getting caught.

Since Legends Sports garnered over $1 billion since its inception back 2003, (that the courts are now trying to take away from them), the illegal activities gambling world is clearly a lucrative business, the pulse of which is not likely to stop beating completely anytime soon.

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