The Delaware land-based casino sector was struck 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 taxes that are domestic increased competition across the state line means hard times for the property as well as the state’s two other racinos.
The sector, which comprises Harrington Raceway, Dover Downs, and Delaware Park, peaked in 2006, the year Pennsylvania began issuing its very 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 National Harbor, which started in Maryland late final year, 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 marketing 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 through a casino relief measure.
But the racinos will have to wait. VLAC will maybe not publish its recommendations before the fall, and until then, it’s maintaining tight-lipped.
Legislation that would have provided relief by creating marketing 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 sizable spending plan deficit has caused it to be burdensome for a bill advocating tax relief to achieve much traction. Still, something has become 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 News that a simple concession that could be easily enacted is always to permit the racinos to operate 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 give up, people, and now we can’t sit another year out of not doing anything.’
Impossible Chances? Betting Sites Offer Lines on Political, Celebrity Absurdity
Political betting markets are doing their best to stay relevant since the highly engaging 2016 presidential campaign, by offering online bettors unique lines on events that appear to have little potential for occurring.
Lines on Kid Rock as well as The Rock’s future in government are two markets to be had 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 the Rock creating a serious bid for the White home in 2020, political betting networks are trying to maintain a connection between celebrity entertainment and governmental influence. It definitely worked in 2016 with Donald Trump.
Betting on political results is illegal through the United States (even in Las vegas, nevada), but American politics is a favorite wager that is exotic Europe and elsewhere on earth.
PredictIt.org provides exchange betting, which is really a slightly different variant of wager that trades stocks in real time on predicted outcomes of political events. (Exchanges charge a commission on trades as opposed to setting odds.)
Kid Rock for Senate?
Musician and avid Trump supporter Kid Rock has recently teased a bid to run for Michigan’s US Senate chair in 2018 against incumbent Democrat Debbie Stabenow (D). Nonetheless, betting money is currently against Rock officially operating.
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. Following a tweet in early July from rap star that revealed a yard indication reading ‘Kid Rock for people Senate,’ shares laying claim to the idea which he would certainly run soared to 70 cents.
Rock followed the image with a statement of political philosophy that read, ‘we believe you should be able to easily navigate the laws, income tax codes, health care, and anything else the us government sets in place that affects us all. if you work your butt off and pay fees,’
The 46-year-old singer from Michigan has never run for or held elected office, but that don’t stop the existing president that is american. Ritchie apparently has yet to file campaign that is official, however, which undoubtedly factors into why the PredictIt line remains open.
President The Rock
Bettors, of course, need certainly to be careful never to confuse Kid Rock with The Rock. PredictIt is asking whether star Dwayne Johnson will throw his name to the ring for the US presidency in 2020.
A campaign committee called ‘Run the Rock 2020’ recently did file documents aided by the Federal Election Committee, which appeared like a larger action in a serious direction. The Rock, nevertheless, isn’t really behind the company trying to elect him. It’s instead the work of a fan who simply 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 recommend that celebrity lines with which has no possibility of hitting are a revenue that is popular for the exchange.
ElectionBettingOdds.com, meanwhile, offers the actor a 3.5 per cent chance of actually winning the White home, comparable chances it offers for Facebook creator Mark Zuckerberg, that will turn 35, the age that is minimum allowed for A united states president by the Constitution, in 2019.
Just What Hath Paddy Energy Wrought
Sites and areas such as for instance PredictIt may be seeing the value of offering opportunities for wagering on wishful thinking and fears that are irrational but really they truly are simply after in the footsteps of Paddy Power.
The Irish that is infamous bookmaker the typical for allowing people to bet the unthinkable, at onetime asking customers whether or not then-President Barack Obama would be assassinated.
Paddy Power’s present odds in the champion regarding the 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 the chances sheet. Leonardo DiCaprio (80-1), Kanye western (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 readily available for those who think they could see something in a extreme longshot.
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 stayed ‘serious’ despite the apparent recovery that is economic. (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 research began in after a man told authorities he had been defrauded of HK$4 million (around $500,000) 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 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 planned and executed, with members of the gang posing as dealers, VIP hosts, VIP room operators, safety guards and shill gamblers in order to trick their victim.
Four ‘customers’ were based in the process to be scammed when authorities swooped on according to Macau’s public broadcaster, TDM wednesday.
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 rollers that are high casino as credit to gamble with, in the place of the type of chips which can be exchanged directly for cash. HK$200,000 in difficult money ended up being also seized, around US$25,600.
The suspects, aged between 35 and 53, are facing numerous charges, ranging from fraud to owning a criminal syndicate.
Last week, 15 mainlanders were detained and accused of owning a loan-sharking that is high-interest focusing on casino gamblers regarding 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 the razor-sharp boost in triad-related crime.
Police have said that the quantity of illegal detentions, which mainly 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 video gaming industry has stabilized since the second half final year, the gaming-related crime situation remains serious,’director of Judiciary Police Chau Wai Kuong said this week in a statement.
‘We have actually witnessed an increase in how many cases of unlawful detention related to loan-sharking operations,’ he included. ‘As such, police have actually strengthened patrols, having detected 20 instances of gaming-related unlawful detention in just one day.’
Macau’s Judiciary Police recorded an overall total of 734 suspected gaming-related crimes in the first five months of this year, up by 74 cases compared with the corresponding period of 2016.
Nj-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 later a week ago that urges President Donald Trump, members of his administration, and Congress to oppose any legislation that will prohibit individual states from authorizing and regulating online gambling.
Nj State Representative Vincent Mazzeo has authored a bill that asks federal leaders to rebel against any measures that could 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 joint resolution seeks to inform the president and Congress how internet casinos are playing a vital role within the recovery of Atlantic City. Of course, it’s an opinion only and one that carries no given weight, as state governments do not have 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 maybe not other types 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 management, would prohibit the transmission of wire communication of any bet or wager … including internet gaming.’
A copy of the legislation that is signed being sent to the president, US 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 support Mazzeo’s bill. Atlantic City’s staying seven casino operators are finally publishing 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’ important thing 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 year that is last.
‘a prohibition that is federal internet gaming would directly and negatively impact New Jersey by dismantling the investments that the State and Atlantic City casinos have actually already made,’ Mazzeo explained.
iGaming’s prominent part in revitalizing Atlantic City is why Mazzeo had small difficulty 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 appear to be much enthusiasm in Washington to take up RAWA, or similar anti-online gambling legislation. Previous committee hearings in the home and Senate didn’t change the undeniable fact that most in Congress just 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 choose 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 mostly 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 2 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 New Jersey, made a decision to play his World Series that is first of tournament several weeks ago, the 2017 Main Event. It switched out to become a pretty decision that is good as late into Saturday night, 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 when he entered the World Series of Poker’s many prestigious competition two weeks ago, says fame and fortune will perhaps not change who he is. (Image: ABCNews.com)
It absolutely was not long after midnight Pacific Time on Sunday morning, on hand 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 readily useful feeling, I can’t also put it into words.’
First Time’s the Charm
Despite making a living as an on-line grinder back home in New Jersey, this was the very first time Blumstein had ever ventured to the Rio in Las vegas, nevada to play live in a World Series event.
With all the November Nine concept scrapped in favor of three consecutive portions of final-table play, broadcast with a 30-minute delay by ESPN on Thursday, Friday, and Saturday, Blumstein began the new format last table with a chip lead that is commanding. It had been a lead he relinquished only one time over the program regarding the 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 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 gain and was prepared to obtain his chips in and gamble. Ultimately, though, 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 very best (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 had been ahead pre-flop, and the tournament that is entire have ended then and there. Instead, a master on the flop tripled-up Ott and sent Pollack to the rails.
The ultimate moment ended up being postponed for another 60-odd hands, and when it came, it came via a piece of luck for Blumstein, who played solidly throughout the event that is 10-day. 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 champ that is new that, while the cash is nice, it will not alter his lifestyle all that much. The Temple University graduate, who holds an accounting degree, told WSOP officials after their win:
‘Just two weeks hence I became a New Jersey online grinder and nothing has really changed.