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Delaware Brick-and-Mortar Casino Sector Advisory Board Holds State’s Fate, While Maintaining Cards Close

Delaware Brick-and-Mortar Casino Sector Advisory Board Holds State’s Fate, While Maintaining Cards Close

The Delaware casino that is land-based has been struck hard by increased competition from brand 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 over the state line means crisis for the home and 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 new MGM nationwide Harbor, which launched 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 marketing drives, drawing even more customers away from Delaware’s ailing properties.

The three racinos cannot compete because they pay higher state taxes than their counterparts across the edge, and they’re begging legislators for help.

Taxed From 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 gov Continue Reading →

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Macau Casino Stocks Plunge with VIPJunket Ops in Beijing’s Anti-Corruption Crosshairs

Macau Casino Stocks Plunge with VIPJunket Ops in Beijing’s Anti-Corruption Crosshairs

Investors folded on Macau casino shares after Suncity Group, the spot’s biggest VIP junket company, reportedly warned its workers to take extra care when moving money to the Chinese enclave where gaming is permitted.

Billionaire Steve Wynn was one of the casino magnates who lost money on Monday, as Macau casino stocks dipped on continued uncertainty about the continuing future of VIP junket operators. (Image: Vincent Yu/Associated Press)

Wynn Macau, traded on the Hong Kong Stock Exchange, lost nearly five percent of its share price in the news. Galaxy Entertainment was down more than three percent, and MGM China, Sands China, and SJM Holdings all saw their valuations dip by at least two percent.

According to Barron’s, a newspaper that is financial investors are fleeing on issues that China’s anti-corruption campaign is quickly to target VIP junket operations, for a long time a critical element of drawing high-stakes players to various Chinese casinos. President Xi Jinping has been trying to stop the flow of money from the mainland to Macau, a former Portuguese territory that is today a tax haven where casinos regularly appeal to the elite that is asian.

‘Investors are worried that the Suncity warning could preclude another crackdown on the industry,’ Barron’s columnist Daniel Shane published.

Suncity Group warned workers recently to just take extra precautions when moving money to and from M Continue Reading →

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Online Revenues Soar for Ladbrokes Coral as Retail Profits Tumble

Online Revenues Soar for Ladbrokes Coral as Retail Profits Tumble

Just as online sales for common items have forced many brick-and-mortar stores that are retail close, it appears the more ‘punters’ in the UK bet online, the less they bet in old-fashioned bookmaking shops.

Online successes felt from the merger that created Ladbrokes Coral haven’t fully offset the losses expected at retail shops that are betting London and the British.

Ladbrokes Coral’s income from digital operations climbed 17 per cent in the half that is first of, with sports wagering profits up 25 percent, according to the FTSE 250 company’s latest public monetary reports, released on Thursday.

The overall amount wagered online on sports grew by 27 percent, while revenues from games such as online roulette showed an 11 % increase. Revenues from land-based operations, meanwhile, slipped six per cent, whilst the total amount bet in these stores on like-for-like offerings declined seven percent.

Coming FOBT Crunch

The online boost helped total revenue inch up by one % compared to last year, but figures for retail betting make for grimmer reading. And with regulations on fixed-odds wagering terminals expected to be tightened soon carrying out a federal government revue, likelihood of a rebound that is retail slim.

Some politicians have called for the chances on FOBTs to be cut from £100 ($131) a spin to £2 ($2.61), a move that the bookmaking industry has warned would induce the loss in 20,000 jobs Continue Reading →

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Poker Pro Phil Ivey Misses World group of Poker to own their Day in UK Court

Poker Pro Phil Ivey Misses World group of Poker to own their Day in UK Court

Poker legend Phil Ivey would as a rule have been ensconced in Las Vegas this battling it out at the World Series of Poker Main Event (WSOP) week. Instead, Ivey is in London, fighting his appropriate battle to claim £7.7 million ($10 million) in punto banco winnings from London’s tony Crockfords Casino, which he contests has been illegally withheld. The scenario reached London’s Supreme Court week that is late last.

Instead of playing for the $8.15 million top prize in this present year’s World Series of Poker Main Event, poker pro Phil Ivey (seen here after winning the 2008 L.A. Poker Classic) is in London at the Supreme Court, fighting for ten dollars million from Crockford’s that he says is due him. (Image: WPT)

The player that is top-ranked absence from the WSOP, while notable, is no longer the massive news it as soon as could have been. In fact, since he won his World that is last Series in 2014, he’s just registered for three WSOP events.

But so far, he’s never missed the Main Event.

Ivey has been fighting the Crockford’s battle for 5 years, along with a case that is similar Atlantic City’s Borgata.

Edge-Sorting 101

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Ivey and his accomplice Kelly Sun ‘won’ the contested sum in 2012 utilizing a practice known as edge-sorting. That is a technique where a skilled player is able to spot tiny discrepancies in the patterns on the backs of playing cards. Ivey and Sun requested a specific typ Continue Reading →

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Poker News: Sam Soverel 2019 Poker Masters, Guy Laliberte Pot Detention

Poker News: Sam Soverel 2019 Poker Masters, Guy Laliberte Pot Detention

This week’s poker news delivers many different features ranging from a large win by Sam Soverel, legalities for famous poker enthusiast and philanthropist Guy Laliberte, and a sad ending for one player who suffered a beat that is bad. Let’s have a look at this week’s headlines:

Soverel Wins Purple Jacket With Dominant Performance In 2019 Poker Masters

Sam Soverel built one of probably the most dominant performances of his career this past week, cleaning up at the 2019 Poker Masters. The professional poker player cashed in seven associated with the 10 events held at Aria Las Vegas to secure the Poker Masters Purple Jacket and a $100,000 bonus because the player regarding the series.

Soverel closed out their impressive run with a success in the event that is main which paid a remarkable $680,000. He ended up home that is taking grand total of $1,396,800 in earnings on the length of the series, which was more than double the profits of just about any competitor in the occasion.

His final stat line included two titles, four third-place finishes and another top-five result over the 10-day group of high-stakes events. Soverel has made a complete of 21 final tables in 2019, including seven outright victories. After picking right up 1,619 Card Player Player of this Year points through the run, Soverel is now third into the Player of the Year standings.

Laliberte Detained In French Polynesia For Growing Marijuana Continue Reading →

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