Monthly Archives: October 2016

Why Poker Needs People Like William Kassouf

After William Kassouf’s exit hand at the World Series of Poker goes viral, Lee Davy explains why the game is crying out for more players willing to make more of a buzz.

Hands up if you tuned into the opening episode of The Walking Dead this weekend to find out who’s head Negan was going to dismantle with Lucille?

I have watched some TV during my time on this planet, but I can’t remember watching an episode quite like that. My heart was beating like a bluff. I had a headache. I felt strange like there had been a death in the family. And I find myself daydreaming about eyeballs resting on cheek sockets as I type.

It was 45-minutes of hair raising, heart thumping, brain-addling emotion.

Nevada regulators investigating Las Vegas Sands’ use of VIP ‘shills’

Nevada gaming regulators are investigating reports that casino operator Las Vegas Sands allowed the use of ‘shills’ to conceal the identities of Chinese VIP gamblers.

Last month, Reuters reported that Sands was suing two Nevada housekeepers to collect $6.4m in gambling debts the two Chinese nationals had allegedly run up at Sands’ Venetian and Palazzo casinos in Las Vegas. The women claimed they were merely fronts who signed IOUs for the real VIPs in exchange for a couple thousand dollars apiece.

On Tuesday, Reuters quoted sources saying that the Nevada Gaming Control Board was investigating the allegations made by the two women. Specifically, the GCB is said to be examining whether the use of such shills violates state bookkeeping rules and its gaming licensees’ “decency” requirements.

Sands spokesman Ron Reese confirmed to Reuters that the GCB “has made inquiries related to this matter and we’ve responded in a timely and transparent manner, as we always do.”

Nevada regulators investigating Las Vegas Sands’ use of VIP ‘shills’

Nevada gaming regulators are investigating reports that casino operator Las Vegas Sands allowed the use of ‘shills’ to conceal the identities of Chinese VIP gamblers.

Last month, Reuters reported that Sands was suing two Nevada housekeepers to collect $6.4m in gambling debts the two Chinese nationals had allegedly run up at Sands’ Venetian and Palazzo casinos in Las Vegas. The women claimed they were merely fronts who signed IOUs for the real VIPs in exchange for a couple thousand dollars apiece.

On Tuesday, Reuters quoted sources saying that the Nevada Gaming Control Board was investigating the allegations made by the two women. Specifically, the GCB is said to be examining whether the use of such shills violates state bookkeeping rules and its gaming licensees’ “decency” requirements.

Sands spokesman Ron Reese confirmed to Reuters that the GCB “has made inquiries related to this matter and we’ve responded in a timely and transparent manner, as we always do.”

Nevada regulators investigating Las Vegas Sands’ use of VIP ‘shills’

Nevada gaming regulators are investigating reports that casino operator Las Vegas Sands allowed the use of ‘shills’ to conceal the identities of Chinese VIP gamblers.

Last month, Reuters reported that Sands was suing two Nevada housekeepers to collect $6.4m in gambling debts the two Chinese nationals had allegedly run up at Sands’ Venetian and Palazzo casinos in Las Vegas. The women claimed they were merely fronts who signed IOUs for the real VIPs in exchange for a couple thousand dollars apiece.

On Tuesday, Reuters quoted sources saying that the Nevada Gaming Control Board was investigating the allegations made by the two women. Specifically, the GCB is said to be examining whether the use of such shills violates state bookkeeping rules and its gaming licensees’ “decency” requirements.

Sands spokesman Ron Reese confirmed to Reuters that the GCB “has made inquiries related to this matter and we’ve responded in a timely and transparent manner, as we always do.”

DraftKings, FanDuel to pay $6m apiece to resolve New York consumer fraud suits

Daily fantasy sports operators DraftKings and FanDuel have reached a settlement with New York state’s attorney general over misleading advertising claims.

On Tuesday, New York AG Eric Schneiderman (pictured) announced that the two DFS operators had agreed to pay $6m apiece in penalties and costs to resolve an investigation into advertising claims the AG’s office believed were “false and deceptive.”

The DFS operators have also agreed to enact “sweeping reforms” in their marketing, including “clear disclosure” of marketing promotions’ terms and conditions, expected winnings and expected performance in online contests. The sites will also have to post information regarding the share of winnings generated by the sites’ top 1%, 5% and 10% of players.

Schneiderman’s office called the settlements “the highest New York penalty awards for deceptive advertising in recent memory.” Schneiderman added that the sites were now required to “permanently end the misrepresentations they made to millions of consumers.”

Macau court ruling leaves junkets on the hook for investor funds

Macau casino junket operators are fearing the ramifications of a local court ruling on the nature of junket investor funds.

This week, Portuguese-language media outlet TDM reported that Macau’s Court of Second Instance had ordered a former VIP gambling promoter to repay an investor the HKD 2.5m (US $322k) she had given the junket operator.

The ruling, which was handed down last week, involved junket operator Cheong Wai Leng, who ran a VIP room at SJM Holdings’ Grand Lisboa casino. In 2009, Cheong solicited funds from multiple investors, offering returns of 3% per month on what Cheong characterized as deposits.

But luck wasn’t with Cheong, who ended up closing her Grand Lisboa VIP room, leaving investors high and dry. Cheong subsequently cancelled her junket license and refused to make her investors whole, insisting that there were risks associated with all investments.

Macau court ruling leaves junkets on the hook for investor funds

Macau casino junket operators are fearing the ramifications of a local court ruling on the nature of junket investor funds.

This week, Portuguese-language media outlet TDM reported that Macau’s Court of Second Instance had ordered a former VIP gambling promoter to repay an investor the HKD 2.5m (US $322k) she had given the junket operator.

The ruling, which was handed down last week, involved junket operator Cheong Wai Leng, who ran a VIP room at SJM Holdings’ Grand Lisboa casino. In 2009, Cheong solicited funds from multiple investors, offering returns of 3% per month on what Cheong characterized as deposits.

But luck wasn’t with Cheong, who ended up closing her Grand Lisboa VIP room, leaving investors high and dry. Cheong subsequently cancelled her junket license and refused to make her investors whole, insisting that there were risks associated with all investments.

Will Kassouf Gains National Attention for ‘Abusive Behavior’ During WSOP Main Event TV Coverage

Will Kassouf finished 17th in the 2016 WSOP Main Event for a $338,288 cash, but he’s getting so much attention you might think he won the tournament. Even major media […]

The post Will Kassouf Gains National Attention for ‘Abusive Behavior’ During WSOP Main Event TV Coverage appeared first on .

Russia cuts bookmakers some slack on sports body funding

Russia has cut its bookmakers some slack by reducing their mandatory contribution towards Russian sporting bodies.

In March, Russia’s Ministry of Finance confirmed plans to require all Russian-licensed sports betting operators to return 5% of their sports betting revenue to local sports bodies, with minimum contributions set at RUB 15m (US $241k) per quarter, making each operator’s annual minimal contribution around $1m.

On Tuesday, the Ramblers News Service reported that the Ministry has revised its plans, setting the sports rate at 3% of land-based and online revenue (before tax), with a carveout for mobile sports lotteries. The money collected is to be transferred to the federal budget. The Duma will consider the revised measure on November 2.

Bingo Boom president Konstantin Makarov told Bookmaker-ratings.ru that he welcomed both the reduced rate and the decision to transfer the funds directly to the state rather than to individual sports agencies.

Evolution Gaming shuffles senior management as Q3 revenue jumps

Live dealer online casino specialists Evolution Gaming have announced a senior management shakeup despite Q3 earnings numbers showing the company firing on all cylinders.

On Tuesday, Evolution released an interim report covering the three months ending September 30, during which revenue rose 47% to €29.2m, earnings rose 37% to €10.8m and profit rose 27% to €7.4m.

The numbers are even more favorable on a year-to-date basis, with revenue rising 52% to €81.1m, earnings up 46% to €31.6m and profit gaining 40% to €22.7m.

Evolution CEO Jens von Bahr (pictured) said the Q3 numbers were all the more impressive given that they show quarter-on-quarter growth, despite Q3 being an historically weaker period.