Monthly Archives: January 2016

Americans don’t think sports betting is immoral, but they want it to stay illegal

Nearly two-thirds of Americans don’t believe that sports betting is immoral, yet half of them want to keep the activity illegal.

With the NFL conference championships set to kick off on Sunday, Nashville-based evangelical Christian polling group LifeWay Research decided to survey Americans on whether it was morally acceptable to wager on the outcomes.

The research found that 64% of those polled disagreed with the statement: “it is morally wrong to bet on sports.” A prudish 31% agreed with the statement, while 5% were on the fence.

But the belief that sports betting isn’t immoral didn’t translate into a push for legalization outside of its existing Nevada confines. Nearly half (49%) disagreed with the statement: “Sports betting should be legalized nationwide,” while 40% were in agreement and 11% weren’t sure.

Magellan Midstream eyes exports out of Houston joint venture

Jan 22 Magellan Midstream and LBC Tank Terminals are actively looking to develop crude export capacity at their joint venture in Houston, Texas, Magellan chief executive Mike Mears said on Friday at the Argus America Crude Summit in Houston. The 50:50 joint venture, Seabrook Logistics, will not formally announce a project until it has customer commitments, Mears said.

Magellan Midstream eyes exports out of Houston joint venture

Jan 22 Magellan Midstream and LBC Tank Terminals are actively looking to develop crude export capacity at their joint venture in Houston, Texas, Magellan chief executive Mike Mears said on Friday at the Argus America Crude Summit in Houston. The 50:50 joint venture, Seabrook Logistics, will not formally announce a project until it has customer commitments, Mears said.

California’s Normandie Casino coughs up $2.3m for violating Bank Secrecy Act

Federal authorities have lowered the boom on California’s Normandie Casino for helping high-rolling gamblers dodge financial reporting requirements.

On Friday, the Los Angeles Times reported that the Normandie Casino’s owners had pled guilty to violating the Bank Secrecy Act. The casino stood accused of failing to adequately document a series of large-scale transactions in 2013.

The Times quoted court documents showing that the casino in Gardena had reached a plea agreement requiring it to forfeit $1.3m in illicit earnings related to the transactions. The casino’s managing partners will pay a further $1m in federal fines to atone for their transgressions.

The shenanigans documented in the filing include casino staff helping gamblers avoid federal reporting requirements by splitting high-value transactions into smaller amounts in order to get under the federal $10k reporting threshold. The casino also failed to flag cash transactions that it “had reason to suspect” were related to money laundering.

California’s Normandie Casino coughs up $2.3m for violating Bank Secrecy Act

Federal authorities have lowered the boom on California’s Normandie Casino for helping high-rolling gamblers dodge financial reporting requirements.

On Friday, the Los Angeles Times reported that the Normandie Casino’s owners had pled guilty to violating the Bank Secrecy Act. The casino stood accused of failing to adequately document a series of large-scale transactions in 2013.

The Times quoted court documents showing that the casino in Gardena had reached a plea agreement requiring it to forfeit $1.3m in illicit earnings related to the transactions. The casino’s managing partners will pay a further $1m in federal fines to atone for their transgressions.

The shenanigans documented in the filing include casino staff helping gamblers avoid federal reporting requirements by splitting high-value transactions into smaller amounts in order to get under the federal $10k reporting threshold. The casino also failed to flag cash transactions that it “had reason to suspect” were related to money laundering.

Recent lottery winner killed in GA home invasion

Windows rattling, houses shaking, and many curious residents in the Southwest Florida area have voiced their concerns to the station, but we now have an official answer. The NBC2 First Alert Storm Team has issued a Severe Weather First Alert for Friday morning and afternoon due to the potential for a few strong to severe storms.

Recent lottery winner killed in GA home invasion

Windows rattling, houses shaking, and many curious residents in the Southwest Florida area have voiced their concerns to the station, but we now have an official answer. The NBC2 First Alert Storm Team has issued a Severe Weather First Alert for Friday morning and afternoon due to the potential for a few strong to severe storms.

French casino industry thinking expansion after first annual growth in seven years

Casinos could be coming to more French cities as cash-strapped municipal governments look for new revenue streams.

As in other markets, the French casino industry struggled in the wake of the 2008 global economic downturn. But net casino revenue in France rose 2.2% to €2.2b in 2015, the first positive growth in seven years. With momentum behind it, the casino industry – and local government – is thinking expansion.

Jean-Claude Gaudin, mayor of Marseilles, announced this week that the city was opening a public tender for the development of a casino. Gaudin has commissioned studies that show a local casino could create 500 jobs and contribute €10m in annual tax revenue to the city’s budget.

Gaudiin is looking to emulate cities like Deauville, where the municipal government derives 30% of its budget from casino taxes. Other French towns rely on gaming operations for as much as 80% of their tax revenue.

French casino industry thinking expansion after first annual growth in seven years

Casinos could be coming to more French cities as cash-strapped municipal governments look for new revenue streams.

As in other markets, the French casino industry struggled in the wake of the 2008 global economic downturn. But net casino revenue in France rose 2.2% to €2.2b in 2015, the first positive growth in seven years. With momentum behind it, the casino industry – and local government – is thinking expansion.

Jean-Claude Gaudin, mayor of Marseilles, announced this week that the city was opening a public tender for the development of a casino. Gaudin has commissioned studies that show a local casino could create 500 jobs and contribute €10m in annual tax revenue to the city’s budget.

Gaudiin is looking to emulate cities like Deauville, where the municipal government derives 30% of its budget from casino taxes. Other French towns rely on gaming operations for as much as 80% of their tax revenue.

DraftKings sees the light: bans third-party scripts, labels high-volume players

Daily fantasy sports operator DraftKings has begun instituting overdue consumer protection guidelines, including a ban on the use of third-party scripting tools and tagging a scarlet letter on high-volume players.

On Friday, DraftKings customers received emails announcing that the site would introduce a new bespoke lineup creation tool. The site also announced that it would “prohibit the use of scripts and other automated means of interacting with our site” as of Jan. 29.

The company says it is “committed to providing competitive and entertaining contests for our players while ensuring transparency of the daily fantasy sports industry.” More cynical observers are noting that DraftKings embraced its newfound commitment to transparency only after the industry came under sustained regulatory and legal pressure in multiple states.

It was only last July that DraftKings modified its terms of service to permit third-party scripting tools, leading much of the community to accuse the company of catering to its high-volume customers, from whom DraftKings earns a significant chunk of its revenue.

'Porn is more popular than ever a we just can't monetize it as well'

Porn producer John Stagliano is interviewed Wednesday, Jan. 20, 2016, at the AVN/Adult Entertainment Expo at the Hard Rock Hotel. With pornography continuing to be in high demand, major companies and studios at this week’s AVN/Adult Entertainment Expo are fighting to adapt to a growth in free content and the industry’s movement toward virtual reality.