When looking at the latest legal problems surrounding Las Vegas Sands and its CEO Sheldon Adelson surrounding a wrongful termination suit, I’m reminded of a scene (start at 2:00) from the 1986 Rodney Dangerfield movie Back To School. The scene is Dangerfield’s character’s first economics class, where he challenges the professor who is trying to concentrate only on factory building costs, when Dangerfield says he’s missing a bunch of costs, like greasing politicians, building inspectors, sanitation workers, etc.

Before I get into why, the lawsuit involves Adelson and his former Sands China CEO Steven Jacobs. Jacobs alleges that Sands Macau was involved in illegal dealings with organized crime, bribery to government officials, and other illegal activity, which he tried to stop and for which he got fired. Adelson accused Jacobs of “squealing like a pig to the government” and blackmail.

If you are long LVS and you think Adelson is going to lose this case, now would be a good time to sell. But I seriously doubt that Adelson will lose the case, because too much money is on the table. Reasonable people can differ here, but in my opinion, there is no way that any government authority is going to take down Sheldon Adelson or hurt his company because the economic consequences would be too large, both in terms of political donations and the maintenance of the façade of a “fragile economic recovery”.

Whether we like to see it this way or not, the justice system is a branch of government, controlled by monopoly force which exposes it to the influence of people with money. Aside from that, in a purely ideological sense, no article on this court matter attempts to even differentiate between real crimes, which would be something like Adelson hiring hit men to kill or kidnap his competition, and so-called crimes of bribery to a Chinese official for some business favor, probably to just be left alone or granted an official license to be left alone. What did he bribe officials for? Nobody says. It just says “illegal activities and ties with organized crime”. Organized crime to do what?

Loading the player…

jwplayer(‘camediasplayer’).setup({

Now on its 9th year, the World Gaming Executive Summit 2015 returns at W Hotel Barcelona, Spain on July 6–8, 2015.

With over 280 participants (82% of whom hold boardroom/ executive level positions) the World Gaming Executive Summit is the only forum in the world where the industry’s elite CEOs from both the online and offline community gather annually to share ideas and debate their strategies in an open forum.

The World Gaming Executive Summit is where the industry’s elite CEOs from both the online and offline community including of the likes of Jim Ryan, Bwin.Party, Mor Weizer, Playtech, Mitch Garber, Ceasers Interactive Entertainment, Richard Glyn, Ladbrokes, Nicholas Beraud, Betclic Everest Group to name a few, gather to share ideas and debate their strategies in an open forum.

The seniority, reputation and global reach of the event make the World Gaming Executive Summit the most exclusive and influential gathering for the gaming industry all those affiliated to it.

Amaya CEO David Baazov was re-elected as the company’s chairman of the board despite being a part of the insider trading probe.

Baazov received 96% of shareholders votes during the company’s annual general meeting in Montreal.

ISS Proxy Advisory Services also recommended to re-elect all board members including Daniel Sebag, Gen. Wesley Clark, Divyesh (David) Gadhia, Harlan Goodson and Dr. Aubrey Zidenberg.

Baazov said business has carried on during the investigation and he is confident Amaya will be cleared.

The former Argentina soccer player Diego Maradona has confirmed his intention to run for FIFA presidency through his long-time journalist friend.

According to the Uruguayan journalist Victor Hugo Morales, Maradona told him of his intention on Sunday, through a phone call, and was authorized to publish the confirmation.

Maradona also said that he is “a candidate” whenever he was asked about the nomination for

FIFA presidency.

Lee Davy opines about the edge that the live stream can give to professional poker players, who use the information to adjust to their opponent’s tendencies.

A professional poker player once told me that people who pretend to be poker players are called Muggles. I laughed so hard, until I realized that he was referring to me. He was politely telling me that I was not part of the gang, I had not done enough to warrant membership.

The game/sport (cross out your own preference) of poker is unique in as much as professionals and non professionals compete in the same events. This is true both online and live. The only thing that sometimes separates the two is money, and even then the richest men and women in the world, who may or may not have a clue how to play poker, can take a seat amongst the elite.

This creates a problem, and not a secretive one either. In order for the two to co-exist the non professionals need to win their fair share of the money, otherwise they end up getting divorced because they have piled so much money onto the plastic that it’s melting.

Lee Davy spins a yarn from his time playing in the $1,500 Extended Levels No-Limit Hold’em Event. The cast includes Clifford, The Devil, and a man who likes to butt fuck catfish.

Clifford – not his real name, but the one my deceased grandfather bore – must be in his sixties. Very few people acknowledged him when he sat down. I did. I have done so ever since I wrote The Ghosts of the WSOP. I always greet them by their first name, I always thank them, and I even told one of them that her hair was lovely the other day. I think it makes them feel human.

There is a hierarchical system within poker. It’s subtle. I’m not sure everyone sees it. I see it, although I often question its existence when I start believing I created the order because I feel like I am being categorized in it.

The poker players are at the top of the food chain. Most of them make it blatantly obvious, some less so, and others don’t pay attention to such nonsense. The live reporters are shadows. They barely get an acknowledgment, although relationships do form, and banter flows, albeit infrequently.

Lee Davy gives you the lowdown on the 26th day of the 46th Annual World Series of Poker, including a fourth bracelet victory for Max Pescatori, the loudest rail of the series thus far, and an appearance from the legendary Doyle Brunson.

Max Pescatori enhanced his stature as the most successful Italian poker player of all time, after topping a tough final table in Event #41: $10,000 Seven Card Stud 8 or Better.

It was the Pirate’s 50th World Series of Poker (WSOP) cash, his ninth final table, and his fourth victory. He not only became the second player this year to win two bracelets, but joins the likes of Bobby Baldwin, Jeff Madsen, Mike Matusow, Amarillo Slim and Walter “Puggy” Pearson in the four bracelet club. Madsen also won his fourth bracelet this year.

Interestingly, when the play reached the three-handed stage, the Milanese born Las Vegas resident was the favorite to win, despite opponents as tough as Stephen Chidwick and Daniel Negreanu. Chidwick was confident of finally winning his first bracelet, and Negreanu also tweeted that he felt confident that this was the time for bracelet number seven. But Pescatori had never lost a WSOP final table when three-handed. That record still stands.