The Delaware land-based casino sector was struck hard by increased competition from new markets in neighboring states, as the more recent 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 over the state line means hard times for the house plus 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 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 simply because they spend higher state taxes than their counterparts across the border, and they’re begging legislators for help.
Taxed Out From the Market
This week, the Delaware’s Video Lottery Advisory Council (VLAC) met to talk about the status of Diamond State’s three casinos. 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 need to wait. VLAC will not publish its suggestions before the fall, and until then, it is maintaining tight-lipped.
Legislation that could have provided relief by creating marketing and capital credits, while quashing the table game fee and lowering the tax rate on dining table games, received short shrift in the typical Assembly in 2015 and 2016.
Begging for a Lifeline
A large budget deficit has made it difficult for a bill advocating tax relief to gain much traction while there is sympathy for the racinos’ plight in the legislature. Nevertheless, something has to be done, says Ed Sutor, president and CEO of Dover Downs Hotel & Casino, as he urged VLAC to throw the racinos a lifeline.
Sutor told the Delaware State News that a simple concession that could be easily enacted is to allow the racinos to use on Christmas and Easter, which may generate a believed $2.25 million more.
‘We’re the only casinos in the country that shut down completely on Easter and Christmas,’ said Sutor. ‘We can not throw in the towel, folks, and now we can’t sit another year out of not doing anything.’
Impossible Odds? 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 providing online bettors unique lines on occasions that appear to have little potential for occurring.
Lines on Kid Rock and also The Rock’s future in government are a couple of areas on offer at governmental wagering websites. (Image: Terry Renna/Associated Press/WWE/Collage by Casino.org)
From Kid Rock’s operating for the United States Senate to talk associated with the Rock creating a serious bid for the White House in 2020, political betting networks are attempting to maintain a connection between celebrity entertainment and influence that is political. It definitely worked in 2016 with Donald Trump.
Betting on governmental results is illegal throughout the United States (also in vegas), but American politics is a well liked wager that is exotic Europe and elsewhere on earth.
PredictIt.org provides trade 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 instead of setting 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 cash is currently against Rock officially running.
PredictIt shares of Kid Rock, aka Robert Ritchie, operating are available 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 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 you will be able to effortlessly navigate the laws, income tax codes, health care, and anything else the federal government sets in place that affects us all. if you work your butt off and pay fees,’
The 46-year-old singer from Michigan hasn’t run for or held elected office, but that don’t stop the existing president that is american. Ritchie reportedly has yet to file official campaign paperwork, however, which undoubtedly factors into why the PredictIt line remains open.
President The Rock
Bettors, of course, have 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 presidency that is US 2020.
A campaign committee called ‘Run the Rock 2020’ recently did file paperwork utilizing the Federal Election Committee, which appeared like a bigger step in a serious way. The Rock, nonetheless, isn’t actually behind the company attempting to elect him. It’s instead the work of the fan whom 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 even considering a 2020 run suggest that celebrity lines with virtually no chance of striking are a revenue that is popular for the exchange.
ElectionBettingOdds.com, meanwhile, provides the actor a 3.5 per cent chance of actually winning the White home, similar odds it offers for Facebook creator Mark Zuckerberg, who can turn 35, the age that is minimum allowed for A united states president by the Constitution, in 2019.
Just What Hath Paddy Power Wrought
Sites and markets such as for example PredictIt may be seeing the value of offering opportunities for wagering on wishful thinking and fears that are irrational but really they’re just after in the footsteps of Paddy Power.
The Irish that is infamous bookmaker the typical for allowing people to bet the unthinkable, at one time asking clients whether or not then-President Barack Obama would be assassinated.
Paddy Power’s present odds on the champion of this 2020 election feature Trump as the favorite (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 the odds sheet. Leonardo DiCaprio (80-1), Kanye West (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 readily available for those who think they may 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 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, 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) june.
Officers through the Judiciary Police raided an unidentified hotel in the gambling hub on Wednesday, arresting 15 males and four women, all from the Chinese mainland.
They are accused of luring high-rollers to hotel rooms which the gang had gone to elaborate lengths to disguise as bona fide VIP rooms.
Ruse Meticulously Planned
Police said the ruse, which have been in operation since 2015, was intricately prepared and executed, with members of the gang posing as dealers, VIP hosts, VIP room operators, protection guards and shill gamblers in order to trick their prey.
Four ‘customers’ were based in the procedure to be scammed when 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 found at the scene. While reports did not specify, it is likely these were ‘rolling chips,’ non-redeemable tokens issued to high rollers by casino as credit to gamble with, in the place of the type of chips that may be exchanged directly for cash. HK$200,000 in hard money was additionally seized, around US$25,600.
The suspects, aged between 35 and 53, are dealing with numerous charges, ranging from fraud to managing a criminal syndicate.
Last week, 15 mainlanders were detained and accused of owning a high-interest loan-sharking ring focusing on casino gamblers on the Cotai Strip.
Taking Crime Seriously
Gaming-related crime has risen in the enclave since Beijing’s anti-corruption drive almost three years ago. The crackdown on the junket industry has place the squeeze on the gambling hub’s unlawful underbelly, with reports of a increase that is sharp triad-related criminal activity.
Police have said that the true number 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 2nd half of last year, the crime that is gaming-related remains serious,’director of Judiciary Police Chau Wai Kuong said this week in a statement.
‘We have witnessed a boost in how many situations of unlawful detention related to operations that are loan-sharking’ he included. ‘As such, police have strengthened patrols, having detected 20 situations of gaming-related unlawful detention in a single 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 compared with 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 management, and Congress to oppose any legislation that would prohibit individual states from authorizing and regulating gambling that is online.
Nj State Representative Vincent Mazzeo has authored a bill that asks federal leaders to push back 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 resolution that is joint to inform the president and Congress on how internet gambling enterprises are playing a vital role within the recovery of Atlantic City. Of course, it’s an opinion just and one that carries no given weight, as state governments do not have direct input into 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 perhaps 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 wager … including internet 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 lots 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 fiscal data recovery.
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.
Online gambling has delivered $121.4 million to operators through June, about $26.6 million ahead of where they were this time last year.
‘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 little trouble in garnering support for the resolution that is joint. Just a single ‘nay’ vote came in from either chamber, State Senator Shirley Turner (D-Mercer) being the lone opponent.
There doesn’t seem to be much enthusiasm in Washington to take up RAWA, or similar anti-online gambling legislation. Past committee hearings in the home and Senate didn’t change the fact that most in Congress simply are not terribly invested in discussing gaming that is internet at the federal level, a matter that the Republican-controlled Congress would seemingly prefer to leave up to each state to decide for themselves.
RAWA had been introduced into their respective chambers by Sen. Lindsey Graham (R-South Carolina) and previous Rep. Jason Chaffetz (R-Utah). It’s mostly thought that those actions arrived at 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 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 nj, chose to play their World Series that is first of tournament a couple of weeks ago, the 2017 Main Event. It switched out to be a pretty decision that is good as late into Saturday night, Blumstein survived an original industry of over 7,200 entrants to take home $8.15 million plus 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 World Series of Poker’s many prestigious tournament two weeks ago, says fame and fortune will not change who he is. (Image: ABCNews.com)
It was not long after midnight Pacific Time on Sunday morning, on hand 256 of the WSOP Main Event final table, 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 is just the most useful feeling, I can not even place 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.
Because of 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 format last table with a commanding chip lead. It was a lead he relinquished only one time over the program for the match, when jovial crowd favorite and British granddad John Hesp briefly wrestled top spot through the chip-stacking juggernaut.
Hesp busted out in fourth, setting up a final night of three-handed action between Americans Blumstein and Ott, and France’s Benjamin Pollack.
Two Plus Two Equals $8.15 Million
The Pollack that is short-stacked had to gain and was willing to get his chips in and gamble. Ultimately, however, he hit the rail immediately after 9 o’clock PT, after some intense three-way action.
Pollack shoved from the button with Q-T, while Ott lived up to their 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 all down right there, and called from he big blind with A-Q. Blumstein was ahead pre-flop, and also the entire competition could have ended then and there. Alternatively, a master on the flop tripled-up Ott and sent Pollack to the rails.
The ultimate moment ended up being postponed for the next 60-odd hands, and when it came, it arrived via a slice of luck for Blumstein, who played sturdily throughout the event that is 10-day. 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 in the river, ending the Main Event and assuring Blumstein an area in poker history.
The champ that is new that, even though the money is nice, it won’t alter his lifestyle all that much. The Temple University graduate, who holds an accounting level, told WSOP officials after his win:
‘simply two weeks ago I happened to be a New Jersey online grinder and nothing has really changed.