Monthly Archives: August 2018

Partypoker continues to challenge PokerStars with tournaments

PokerStars cornered the market on Caribbean poker tournaments, but that could soon change. Partypoker has announced its live-action Caribbean Poker Party (CPP), scheduled for November 9-17 at the Baha Mar, a resort that only opened this past June. If being able to play poker against the backdrop of a tropical setting isn’t enough, the tournament series will also offer over $22 million in guarantees.

The biggest tournament will be the main event, which has a $5,300 buy-in. The steep price is more than offset by the $10 million guaranteed prize pool that’s up for grabs. Partypoker LIVE also included MMILLIONS World to the series, smashing the record for the poker site’s largest ever Super High Roller tournament.

If the main event is out of range, there are still plenty of other options, including five $275 buy-in events. 11 tournaments total are on tap, in addition to a number of satellite tournaments.

The full schedule includes:

Poker now exempt from anti-gambling laws in the Ukraine

While the debate rages in India regarding whether or not poker is a game of chance or a sport, Ukrainian lawmakers have decided that it’s a sport. In the country’s Register of Recognized Sports, poker is now listed, paving the way for the popular game to be offered once again in the country.

Eight years ago, the government stripped poker out of its official list of national sports. It used to be considered different from other forms of gambling, like blackjack and slot machines, but the country’s Justice Minister did an about-face in 2010, redefining poker as gambling and not as a sport. It determined that the game was in direct conflict with a key portion of Ukrainian anti-gambling laws.

Poker clubs banded together following the decision and took their case to the Supreme Court. The court reviewed the case in 2013 and sided with the clubs, adding that its decision only pertained to tournament poker – routine poker games were still off the table.

When the Ukraine and Russia began disputing the Crimean region the following year, gambling laws suddenly became unimportant and clubs had virtual free reign to hold cash games, albeit still technically illegal. Online poker operators, such as the Ukraine’s largest, iPoker, were forced to either leave the country or stay and face prosecution.

Landing shares continue to fall as chairman remains MIA

Shares in Landing International Development Ltd. continued to fall through the end of last week on the news that the company still could not located its chairman, Yang Zhihui. The plummet was the largest single-week drop for the company and leads many to wonder what lies ahead for the company.

Shares had already fallen due to rumors surrounding the company. When Yang went missing in action, with reports of a possible apprehension by police in Cambodia, things took a turn for the worse.

When the Hong Kong Stock Exchange, where Landing shares are traded, closed on Friday, the company’s share price had dropped to $0.40. This followed a drop a day prior from $0.73 to $0.479 within 90 minutes. When that freefall started, Landing requested that the stock exchange suspend trading. As of Friday, the company’s market capitalization was reported as $1.18 billion, a drop of 74% since April.

Within just a week, the share price has dropped a total of 42%. Since January, the stock has continued a decline, falling 83% in total.

Partypoker Caribbean Poker Party to Challenge PokerStars’ Bahamian Dominance with $22M in Guarantees

Hot, sunny beaches and poker in November? That’s what hundreds (if not thousands) of players will be choosing as they head to the Bahamas for the Partypoker Caribbean Poker Party, […]

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