New Jersey cuffed; Adelson stirs controversy

By David McKee ~ November 24th, 2014 @ 12:49 pm No Comments »

In a development of no great surprise, federal District Court Judge Michael Shipp enjoined Monmouth Park (and anybody else in New Jersey) from offering sports betting. And he made the injunction permanent, decreeing that the Garden State’s gavelunregulated sports wagering contravened the Professional & Amateur Sports Protection Act of 1992. “We are going to continuing pursuing every legal option available. The economic impact that sports wagering can have on New Jersey is far too important to simply shrug our shoulders and move on,” said state Senate President Steve Sweeney, in a prepared statement.

Since the Third Circuit Court of Appeals has ruled that individual states can decide “the contours of the prohibition” on sports betting, Continued >>

Are the feds scrutinizing Wynn … and why?

By David McKee ~ November 24th, 2014 @ 11:53 am No Comments »

Uncle Sam appears to be making a systematic sweep of the Strip, probing all the major players. The latest target, according to the Wall Street Journal, is Wynn wynn-picResorts, which denies knowledge of any federal probe. However, according to the WSJ, a trident of the U.S. Attorney’s office, the DEA and the IRS is aimed squarely at Wynn, investigating potential money laundering. This comes while Caesars Entertainment is under the microscope and Las Vegas Sands has recently ponied up $47 million for money-handling infractions.

“We are not aware of any criminal investigation of the company whatsoever and we have serious doubts that any such investigation is taking place,” said Wynn Resorts attorney Michael Weaver, who said that there had been no contact from the feds … and if there was, it wouldn’t necessarily be damning:  Continued >>

Case Bets

By David McKee ~ November 20th, 2014 @ 12:47 pm No Comments »

A California tribe is getting into Internet gambling in a somewhat roundabout way. The Pala Indians are beta-testing, which will be run off the online atlantic-city-borgata-hotelplatform of … Borgata. (Casinos in Atlantic City can host as many as five ‘Net casinos per property.) Pala’s 90-game package will go live on Monday, pending approval by the Division of Gaming Enforcement. Of course, it can only take action from Garden State punters. Pala Interactive Chief Marketing Officer Jeremy Clemons told media, “Our launch in New Jersey is a huge step for the company, and we want to make sure we’re rolling out one of the best, most user-friendly casino experience on the market.”

* Faced with the imminent approval of four new casinos, Turning Stone Casino, in Oneida, New York, is differentiating itself with Continued >>

Big Ease; The Mirage, 25 years later

By David McKee ~ November 20th, 2014 @ 11:47 am 1 Comment »

Even with 19 non-tribal casinos and racinos to support, the Louisiana market continues to rebound. It was up 4% last month, with even 2% growth in the crowded Louisiana_FlagShreveport/Bossier City marketplace. El Dorado was the second-highest grosser and the percentage leader (+7%), while Diamond Jacks (-6%) brought up the rear. Horseshoe Bossier City was the top grosser, at $15.5 million.

In the Baton Rouge area, Pinnacle Entertainment‘s L’Auberge du Lac Baton Rouge continues to be responsible for over 50% of all the dollars grossed therein. It raked in $11 million million, while Tropicana Entertainment‘s Belle of Baton Rouge and Continued >>

Further Reading

New Jersey cuffed; Adelson stirs controversy

Are the feds scrutinizing Wynn … and why?

Case Bets

Big Ease; The Mirage, 25 years later

Revel: Brookfield bails, Straub back in; A few good men

Forcible restraint in Massachusetts; The big winners in Philadelphia

Everybody’s doing it

Flat at the Strat and other Case Bets

The sport of kings in cyberspace

Philadelphia: No surprise here

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