The Delaware land-based casino sector has been hit hard by increased competition from brand new areas 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 only publicly traded racino, but high domestic taxes and increased competition throughout the state line means hard times for the house and also the state’s two other racinos.
The sector, which comprises Harrington Raceway, Dover Downs, and Delaware Park, peaked in 2006, the year Pennsylvania started issuing its first casino licenses, when slot revenues hit more than $650 million. By 2016, slots and table revenues combined had plunged to $398 million.
Meanwhile, outfall from the 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 because they spend higher state taxes than their counterparts across the edge, and they’re begging legislators for help.
Taxed Out of the Market
This the Delaware’s Video Lottery Advisory Council (VLAC) met to discuss the status of Diamond State’s three casinos week. The council is tasked with advising federal government policy on gambling and could urge lawmakers to pass a casino relief measure.
Nevertheless the racinos will have to wait. VLAC will perhaps not publish its guidelines until the fall, and until then, it is keeping tight-lipped.
Legislation that could have provided relief by creating advertising and capital credits, while quashing the dining table game fee and lowering the 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 big budget deficit has managed to get problematic for a bill advocating tax relief to get 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 simple concession that could be easily enacted would be to allow the racinos to use on Christmas and Easter, which may generate an estimated $2.25 million more.
‚We’re the casinos that are only the country that shut down completely on Easter and Christmas,‘ said Sutor. ‚We can’t surrender, people, and we can’t sit another year out of not doing anything.‘
Impossible Odds? Wagering Sites Offer Lines on Political, Celebrity Absurdity
Political betting markets are doing their best to keep relevant since the highly engaging 2016 presidential campaign, by offering online bettors unique lines on events that appear to have little possibility of occurring.
Lines on Kid Rock as well as The Rock’s future in government are two markets on offer at governmental sites that are betting. (Image: Terry Renna/Associated Press/WWE/Collage by Casino.org)
From Kid Rock’s running for the US Senate to talk associated with Rock making a serious bid for the White home in 2020, political betting networks are trying to keep a connection between celebrity entertainment and political influence. It definitely worked in 2016 with Donald Trump.
Betting on political outcomes is illegal through the United States (also in nevada), but American politics is a well liked wager that is exotic Europe and elsewhere on the planet.
PredictIt.org provides trade wagering, which is a slightly different variant of wager that trades stocks 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 avid Trump supporter Kid Rock has recently teased a bid to run for Michigan’s US Senate seat in 2018 against incumbent Democrat Debbie Stabenow (D). Nevertheless, betting money is currently against Rock officially running.
PredictIt shares of Kid Rock, aka Robert Ritchie, running can sell for 40 cents, while no, he won’t run shares are at 60 cents. Carrying out a tweet in early July from rap star that showed a yard indication reading ‚Kid Rock for US Senate,‘ shares laying claim to the idea that he would indeed run soared to 70 cents.
Rock adopted the image with a statement of political philosophy that read, ‚I believe if you work your butt off and pay fees, you should really be able to effortlessly navigate the laws, income tax codes, health care, and whatever else the government puts in place that affects us all.‘
The 46-year-old singer from Michigan hasn’t run for or held elected office, but that don’t stop the existing American president. Ritchie reportedly has yet to file campaign that is official, however, which undoubtedly factors into lucky88slot.org why the PredictIt line remains open.
President The Rock
Bettors, of course, need certainly to be careful not to ever confuse Kid Rock with The Rock. PredictIt is asking whether actor Dwayne Johnson will throw his name in to the ring for the US presidency in 2020.
A campaign committee called ‚Run the Rock 2020‘ recently did file documents using the Federal Election Committee, which appeared like a larger step in a direction that is serious. The Rock, however, isn’t really behind the organization trying to elect him. It’s instead the work of the fan who merely 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 offer the market on Johnson despite his public declaration that he’s not also considering a 2020 run recommend that celebrity lines with without any chance of hitting 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, comparable chances 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 PredictIt may be seeing the value of offering opportunities for wagering on wishful thinking and fears that are irrational but really they have been just after in the footsteps of Paddy Power.
The infamous Irish bookmaker set the conventional for allowing individuals to bet the unthinkable, at one time asking clients whether or not then-President Barack Obama would be assassinated.
Paddy Power’s current odds regarding the champion associated with 2020 election feature Trump as the(2-1 that is favorite, 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 western (100-1), Beyoncé (200-1), fictional House of Cards president Kevin Spacey (200-1), and Kim Kardashian (275-1) are just a few of the picks designed for those who think they could 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 recovery that is economic. (Image: Macau Frequent Times)
Macau authorities have busted a bogus ‚pop-up‘ VIP casino racket that bilked high-rollers out of millions in presumably crooked baccarat games, in line with the South China Morning Post.
The police research started in June after a man told authorities he was defrauded of HK$4 million (around $500,000).
Officers through the Judiciary Police raided an unidentified hotel in the gambling hub on Wednesday, arresting 15 males and four women, all from the mainland that is chinese.
They are 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 was indeed in operation since 2015, was intricately executed and planned, with members of the gang posing as dealers, VIP hosts, VIP room operators, protection guards and shill gamblers in order to trick their victim.
Four ‚customers‘ were found in the process of being scammed whenever police swooped on Wednesday, according to Macau’s public broadcaster, TDM.
Significantly more than HK$75 million ($9.6 million) worth of gaming chips were found at the scene. While reports would not specify, it’s likely these had been ‚rolling chips,‘ non-redeemable tokens issued to high rollers by casino as credit to gamble with, instead of the sort of chips that may be exchanged directly for cash. HK$200,000 in difficult money had been additionally seized, around US$25,600.
The suspects, aged between 35 and 53, are dealing with numerous charges, ranging from fraud to managing a syndicate that is criminal.
Last week, 15 mainlanders had been detained and accused of running a high-interest loan-sharking ring targeting 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 put the squeeze in the gambling hub’s criminal underbelly, with reports of a sharp upsurge in triad-related criminal activity.
Police have said that the true number of illegal detentions, which mostly 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 2nd 50 % of final year, the crime that is gaming-related remains serious,’director of Judiciary Police Chau Wai Kuong said this week in a statement.
‚We have actually witnessed an escalation in the number of cases of unlawful detention related to loan-sharking operations,‘ he added. ‚As such, police have strengthened patrols, having detected 20 cases of gaming-related unlawful detention in an individual day.‘
Macau’s Judiciary Police recorded a total of 734 suspected gaming-related crimes in the first five months of this year, up by 74 cases weighed against the period that is corresponding of.
Nj’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 later a week ago that urges President Donald Trump, members of his management, and Congress to oppose any legislation that would prohibit individual states from authorizing and managing online gambling.
Nj-new jersey State Representative Vincent Mazzeo has authored a bill that asks federal leaders to push back against any measures that would impede states‘ right in the online gambling arena, and it is 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 on how internet casinos are playing a vital role within the recovery of Atlantic City. Of program, it’s an opinion just and another that carries no given fat, as state governments don’t have any input that is direct federal laws.
The main issue is yet again the Restoration of America’s Wire Act (RAWA), legislation that would reverse a 2011 US Department of Justice viewpoint that stated the longstanding Wire Act applied only to sports betting, and not other forms of gambling.
Mazzeo’s quality explains, ‚Recent federal measures, such as [RAWA], introduced in the 114th Congress, if pursued by the 115th Congress and supported by President Trump and his administration, would prohibit the transmission of wire communication of any bet or bet … including internet video gaming.‘
A copy for 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 lots of reason to support Mazzeo’s bill. Atlantic City’s staying 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 percent, bringing the casinos‘ main point here to 3.5 percent.
Internet gambling has delivered $121.4 million to operators through June, about $26.6 million ahead of where these were this time around a year ago.
‚A federal prohibition against internet gaming would directly and negatively impact brand New Jersey by dismantling the investments that their state and Atlantic City casinos have currently made,‘ Mazzeo explained.
iGaming’s prominent role in revitalizing Atlantic City is the reason why Mazzeo had little trouble in garnering support for the joint quality. Just a single ’nay‘ vote came in from either chamber, State Senator Shirley Turner (D-Mercer) being the opponent that is lone.
There doesn’t appear to be much enthusiasm in Washington to take up RAWA, or similar anti-online gambling legislation. Past committee hearings in the home and Senate don’t change the proven fact that most in Congress simply are not terribly spent in discussing internet gaming prohibitions at the federal degree, a matter that the Republican-controlled Congress would seemingly prefer to leave as much as each state to opt for themselves.
RAWA had been introduced into their particular chambers by Sen. Lindsey Graham (R-South Carolina) and former Rep. Jason Chaffetz (R-Utah). It’s largely thought that those actions came during the behest of Las Vegas Sands CEO Sheldon Adelson, A gop that is powerful financier has made it his life’s work to block iGaming.
After lingering for just two years, RAWA hasn’t been re-introduced to Congress because of its 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 New Jersey, decided to play his World Series that is first of tournament a few days ago, the 2017 Main Event. It turned out to be always a pretty decision that is good as late into Saturday night, Blumstein survived an initial industry of over 7,200 entrants to get hold of $8.15 million along with a jewel-encrusted champion’s bracelet worth another half-million.
WSOP 2017 Main Event winner Scott Blumstein, now in a much higher tax bracket than he was when he entered the planet Series of Poker’s many prestigious tournament two weeks ago, says fame and fortune will perhaps not change whom he is. (Image: ABCNews.com)
It had been not long after midnight Pacific Time on Sunday morning, readily available 256 of the WSOP Main Event final table, Blumstein defeated Pennsylvanian Dan Ott to become poker’s „“ new world „“ champion.
‚I’m still in shock,‘ Blumstein told reporters afterwards. ‚ I thought I would get even more emotional that what I got in real time but it’s just the feeling that is best, I can’t even put it into words.‘
First Time’s the Charm
This was the first time Blumstein had ever ventured to the Rio in Las Vegas to play live in a World Series event despite making a living as an online grinder back home in New Jersey.
Aided by the November Nine concept scrapped in favor of three consecutive sections of final-table play, broadcast with a 30-minute wait by ESPN on Thursday, Friday, and Saturday, Blumstein started the brand new structure final table with a chip lead that is commanding. It was a lead he relinquished just once over the course associated with match, whenever crowd that is jovial and British granddad John Hesp briefly wrestled top spot from the chip-stacking juggernaut.
Hesp busted out in fourth, establishing up a night that is final of 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 get and was willing getting his chips in and gamble. Ultimately, however, he hit the rail soon after 9 o’clock PT, after some intense action that is three-way.
Pollack shoved from the button with Q-T, while Ott lived up to his name, coming over the most truly effective (OTT in poker parlance), re-raising all-in from the small blind with K-9. Blumstein saw potential to go on it all down right there, and called from he big blind with A-Q. Blumstein was ahead pre-flop, and the tournament that is entire have ended then and there. Instead, a king on the flop Ott that is tripled-up and Pollack to the rails.
The final moment ended up being postponed for the next 60-odd hands, and when it came, it came via a slice of luck for Blumstein, who played sturdily throughout the 10-day event. With all of the chips going in pre-flop, Ott was ahead with A-9 versus Blumstein’s A-2, but one of three remaining deuces hit regarding the river, ending the Main Event and assuring Blumstein a spot in poker history.
The new champ claims that, although the money is nice, it will not alter his lifestyle all that much. The Temple University graduate, whom holds an accounting level, told WSOP officials after their win:
‚just two weeks ago I was a New Jersey online nothing and grinder has really changed.