Monthly Archives: February 2015

Minnesota sports bet bill reborn; David Stern says “it’s time” for legal sports bets

Legal sports betting in Minnesota is the aim of a new bill coming from state Rep. Phyllis Kahn (pictured). Kahn is preparing to reintroduce the sports betting legislation she originally introduced in 2013, which would have allowed the Minnesota Lottery to take sports wagers on its own or in conjunction with approved licensees.

Kahn told KAAL-TV she expects a somewhat smoother ride than in 2013 in part because of the state’s support for pull-tab operations to help fund the new Vikings’ stadium. Kahn suggested is was “hypocritical of us to allow certain forms of gaming but not others.”

Kahn’s 2013 bill died shortly after New Jersey’s original court challenge of the federal PASPA sports betting ban went down to defeat. Kahn hopes that if her 2015 bill is passed, the state would then mount its own challenge of the “manifestly unfair” PASPA prohibition in a different federal court, assuming New Jersey’s latest kick at that can also fails. (Speaking of, new legal briefs are due to be filed with the US Third Circuit Court of Appeals this Friday.)

Kahn’s plan has already met with opposition from the Minnesota Freedom Foundation, whose spokesperson Annette Meeks called Kahn’s bill “nothing more than a tax on the poor” and would lead to “the expansion of government and not the private sector.” Meeks also suggested the state had better things to do with its money than mount a legal challenge of a federal law with only a faint hope of success.

Meanwhile, former National Basketball Association commissioner David Stern has reiterated his support of his replacement Adam Silver’s call for legal sports betting. During a lecture at New York University on Monday, Stern said he agreed with Silver that “it’s time” for an end to Nevada’s monopoly on single-game sports betting.

While Silver has gotten a lot of media attention with his public call for a federal framework for legal sports betting, Stern made his own waves back in 2009 by telling Sports Illustrated that sports betting represented a “huge opportunity” for the NBA. As quoted by ESPN’s Ohm Youngmisuk, Stern said it was “clear where we were headed. The course was set. But it was left for Adam to make a direct statement of where it was going and I think he did the right thing.”

888 Holdings confirms William Hill £744m acquisition bid

Online gambling operator 888 Holdings has received a takeover bid from UK-listed bookmaker William Hill. On Tuesday, 888 confirmed a report in The Times that Hills had offered 210p per share, a deal valuing 888 at over £744m (15x annual EBITDA). Shares in 888 jumped more than 25% on the news before closing up over 18% at 171.5p. Hills’ shares fell 3% to 377.4p.

Following initial reports, 888 issued a statement saying it had “received an approach regarding a possible offer,” but added that there was no guarantee that “any firm offer will be made nor as to the terms on which any firm offer might be forthcoming.” The company promised to update the market within 28 days.

This isn’t the first time 888 has been the subject of acquisition talk and this deal may also amount to nothing in the end. The Times claimed that the Shaked family, who played a key role in 888’s origin story and holds nearly half of 888’s shares, is insisting on a 300p per share offer or no dice.

Hills has yet to issue any statement regarding the deal but Panmure Gordon analyst Karl Burns suggested Hills was unlikely to up its offer. Burns suggested meeting the alleged Shaked price target would “stretch [Hills’] balance sheet to a degree that they may have to raise capital as well.”

On the surface, the deal would appear a good fit for Hills. 888 is one of the few listed operators whose poker vertical has weathered the global decline in poker revenue. 888 also has a foothold in America’s regulated online gambling markets, with operations already active in New Jersey and a Nevada launch expected sometime this year. Hills has a solid presence in Nevada sports betting and has a tentative betting deal with New Jersey’s Monmouth Park.

Hills’ play for 888 reflects the squeeze facing all UK-facing online gambling operators, which are struggling to absorb the impact of the new 15% point of consumption tas. Retail operators like Hills will also face a hike in Machine Games Duty on their fixed-odds betting terminals come March 1.

Where Tuesday’s news leaves UK-listed operator Bwin.party is anyone’s guess. Speculation continues to swirl that Bwin.party is a takeover target but so far it’s been all smoke and no fire. Poker writer Dave Behr (@dave_behr) underscored this sentiment with this Tuesday tweet: “I picture bwin, sitting on stage, checking their phones, waiting for their number to be called, as all other chairs empty out.”

Hoosier Lottery to give away 450 chances to win $485M Powerball jackpot

To celebrate Wednesday’s estimated $485 million Powerball jackpot, the Hoosier Lottery will give players in Clarksville and two other Indiana cities a free chance to win the prize. Beginning at noon on Wednesday, Feb. 11 and until supplies run out, the Hoosier Lottery will give away one $2 Powerball ticket to the first 450 players, age 18 or older, at the Circle K at 820 Eastern Blvd. in Clarksville.

Russia Looks to Block Anonymous Internet Access to Blacklist Sites, PokerStars

Russia announced this week it will seek ways to prevent anonymous Internet surfing in order to close off citizens from accessing websites entered on its federal blacklist. Speaking at Infoforum 2015, the country’s annual technology and security conference, Russian Information Policy and Communications Chairman Leonid Levin said Parliament should block anonymous web browsing, thus inhibiting […]

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Will Portland's proposed Jurassica attraction get A 16m lottery funding?

THE people behind a proposed prehistoric tourist attraction on Portland are ‘confident’ after the scheme was inspected by lottery bosses ahead of a key funding decision. A site visit was held at Yeolands quarry yesterday which saw representatives from the lottery programme and civic leaders find out more about the subterranean geological park and establish how much support there is for the project.

Lottery millionaires will set their three kids up on property ladder

IN the Mega Friday event draw last Friday, 10 players won a guaranteed A 1m prize and a First Class trip around the world to either Singapore-Sydney-New York, Bangkok-New Zealand-LA or Hong Kong-Fiji-Miami. Every Mega Friday winner has the choice of either taking the once-in-a-life-time trip or a cash alternative, as well as the A 1million.

Ognyan Dimov Denies Romania Its First EPT Title

Although Ognyan Dimov is only the second Bulgarian to win a European Poker Tour main event title, his heads-up opponent, Dany Parlafes, would have been the first from Romania. Parlafes began the EPT €5,300 ($6,000) Deauville Main Event final table as the big stack and dwindled six down to two, but after 117 hands of […]

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