Monthly Archives: June 2015

Groups Argue for Judge to Release Las Vegas Sands Exhibit

A news organization and non-profit group say they want a Nevada judge to unseal an exhibit that may tie casino company Las Vegas Sands Corp. to organized crime in Asia. Guardian News & Media and the Campaign for Accountability recently filed motions with Clark County District Court Judge Elizabeth Gonzalez to unseal the exhibit called the “Vickers report.”

Penn National makes staffing shift to leadership of Tropicana, M hotels

Penn National Gaming will have one of its managers take over the company’s Las Vegas operations which include the M Resort in Henderson and the Tropicana Las Vegas once the company’s $360 million purchase of the Strip hotel is final. The company announced Wednesday that Hollywood Casino at Kansas Speedway general manager Bob Sheldon starts July 6 pending regulatory approvals and will report to Penn National’s chief operating officer.

Macau junkets brace for impact from room closures, visa restrictions

Macau junket operator Neptune Group has warned investors that it will post a “substantial” loss in its current fiscal year.

On Tuesday, Neptune issued a statement alerting shareholders to the expected loss in its fiscal year ending June 30, which it blamed on “the closure of a VIP gaming lounge in Macau in which the Group has a 20% interest.”

The room in question is located at Galaxy Entertainment Group’s StarWorld Hotel. In 2009, Neptune acquired a 10% stake in the Lucky Star operation, upping this stake to 20% in 2012. But Lucky Star plans to close by July 1, resulting in the “material impairment of an intangible asset and charge to profit and loss account” for Neptune’s fiscal year. Neptune will publish its FY results by the end of September.

Macau’s yearlong revenue decline hasn’t been kind to junket operators, with 34 junkets shutting down last year alone. On Monday, Daiwa Securities Group issued a note saying Neptune could lay off over 300 staff by the end of June. Casino workers association Forefront of Macau Gaming (FMG) confirmed this report, saying some of its members were being pressured to voluntarily resign.

Willie Geist Talks Thoroughbred Racing

By @TheDailyPayoff

Willie Geist, co-host of NBC’s Today Show and MSNBC’s “Morning Joe”,  shared some thoughts on thoroughbred racing with America’s Best Racing recently, revealing, among other things – his favorite jockey, his heroes (not the same jockey) and his No. 1 bucket list item.

The author of “Good Talk, Dad: The Birds and the Bees..and Other Conversations We Forgot to Have,” Geist talks about his first racing event, and his first Kentucky Derby, “The deal was closed the first time I sent to the Kentucky Derby in 1995.” and a few other notable items.

For a full read of the interview, go to : http://www.americasbestracing.net/en/the-latest/news-stories/2015/6/10/q-and-a-with-today-show-co-host-willie-geist/

Pennsylvania casinos support online regulation provided reasonable tax rate

The majority of Pennsylvania’s dozen casino operators have expressed support for online gambling but only if tax rates are set low enough to ensure profitability.

Wednesday saw Pennsylvania hold its latest hearing into the possibility of launching a regulated online gambling market. The Senate Committee on Community, Economic and Recreational Development hearing came one day after committee chair Sen. Kim Ward filed SB 900, which proposed a whopping 54% tax on online gambling revenue.

Among those expressing concern over this proposed rate was Eric Schippers, senior VP of government relations at Penn National Gaming. Schippers said his company’s online gambling operations would lose $20m in its first three years of operation under a 54% tax rate. Schippers said the 14% rate envisioned by state Rep. John Payne’s HB 649 would be infinitely more preferable.

Parx Casino chairman Robert Green said his firm wasn’t opposed to venturing online but insisted there must be “safeguards” to ensure that online gambling is “integrated into the existing industry.” Green is suspected of having pushed for SB 900’s requirement for would-be online gamblers to register in-person at one of the state’s brick-and-mortar gaming venues.

Fergie dj: 'Larne folk bring soda farls and Tayto to Las Vegas club'

Congratulations, you’re now registered! Let us know what news and updates you want to hear about and we’ll send them straight to your inbox. Superstar DJ Fergie may be living it large on the Las Vegas Strip, but that doesn’t stop the Larne man’s legion of local fans from making the 5,000-mile journey to see him perform.

Fifth Pennsylvania Online Poker Bill Hits State Senate Floor

The Pennsylvania online poker bill wars continue, with bill #5 now being brought into the fray. The latest version, SB 900, has been formally introduced to the State Senate, and while this may be the fifth such bill proposed this year, it could also be the one with the best chance of legalizing online poker […]

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China’s Tsinghua University takes $124m stake in online lottery operator 500.com

China’s lottery sales rebounded in April despite the ongoing suspension of online sales.

China’s Ministry of Finance reported total lottery sales of RMB 32.6b (US $5.25b) in April, up 3.4% over the same month last year. Welfare lottery sales were up 2.2% to RMB 18.1b while sports lottery sales gained 5% to RMB 14.5b. For the year to date, total sales have improved 14.2% to RMB 127.4b.

Lottery sales had fallen 6.3% in March, the first month following China’s decision to suspend online sales pending an audit of provincial lottery administration centers. Only two operators had been formally approved to operate online as part of a pilot program but China accused some online operators of launching without their authority and not reporting their total sales figures.

Shenzhen-based, Nasdaq-listed 500.com was one of those operators approved for the pilot program, and the online suspension has hit their business hard. Despite this setback, 500.com announced on Tuesday that Tsinghua Unigroup International Co., Ltd. has taken a 15.2% stake in the company. The stake was acquired via the issuance of new shares for a total consideration of $123.8m.

WSOP Day 15: Adrian Buckley Scoops Millionaire Maker with First-Ever Series Cash

Adrian Buckley wanted to be a millionaire, and now he is one, thanks to this year’s Millionaire Maker at the World Series of Poker. The WSOP had yet to award a $1 million prize this year, but that barrier was finally broken by the most appropriate tournament on the schedule, the aforementioned Millionaire Maker. Buckley […]

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