After earning his third straight victory and second consecutive grade 1 triumph when he captured the July 4 Runhappy Metropolitan Handicap (G1), Vekoma left no doubt he was among the elite handicap horses in the country.
Monthly Archives: July 2020
Shackleford Filly Fastest at OBS Under Tack Show
A Shackleford filly sped a quarter-mile in :20 4/5 to post the fastest time during the July 6 first under tack show session in preparation for the Ocala Breeders’ Sales July 2-Year-Olds and Horses of Racing Age Sale.
Rick Arpin
Managing Partner, Las Vegas, KPMG
The post Rick Arpin appeared first on GGB Magazine.
Juddmonte International Prize Money Cut
The devastating impact the COVID-19 pandemic has had on big-race prize money was underlined July 6 when York revealed this year’s Juddmonte International (G1) will be worth £275,000 instead of the intended £1 million.
Miami casinos shut again, other states fear same as COVID resurgent
Casino operator Churchill Downs Incorporated (CDI) has been forced to close its Miami casino less than one month after it reopened the property following a resurgence of COVID-19 cases.
On Monday, CDI announced that the “temporary suspension” of operations at its Calder Casino in Miami Gardens, Florida, in keeping with the order issued by Miami-Dade Mayor Carlos Gimenez to shut all local entertainment venues following a surge in local COVID-19 infections.
The Calder Casino had only just reopened on June 12 following the company’s new ‘CDI 360 Degree Approach to Safety,’ which included capacity restrictions, enhanced cleaning/sanitizing, plexiglass dividers and reduced capacity on its gaming floor. But while staff were provided with personal protective equipment, wearing masks wasn’t made mandatory for casino customers, unlike in some other casino jurisdictions.
On July 2, with Florida’s new COVID-19 infection count hitting a daily record of 10,109 – which was topped two days later with 11,458 new cases – Mayor Gimenez announced that he was “rolling back the reopening” of all four casinos in the region – Hialeah Park, Casino Miami, Magic City and Calder – until further notice.
Keeneland, Del Mar Highlight Radio, TV Schedules
This week’s programming schedule for racing broadcasts for radio and television, as compiled by America’s Best Racing.
888 Holdings extend Delaware online gambling tech pact
UK online gambling operator 888 Holdings has extended its technology contract with Delaware’s online casino and poker monopoly.
On Monday, 888 announced that it had extended its online technology deal with the Delaware Lottery by another two years. The parties have been joined at the hip since 2013, the year the state launched its online gambling market via the state’s three ‘racino’ operators – Delaware Park, Dover Downs and Harrington Raceway.
Delaware’s online offering hasn’t enjoyed the success reported by states with more competitive markets such as New Jersey and Pennsylvania, which have been setting new records during the COVID-19 lockdown. Delaware’s iGaming revenue hit a mere $1.13m in May, and while that was more than triple the sum the market reported in February, it’s still nowhere close to being proportionate to those other states based on population counts.
Whatever the criticisms directed at Delaware’s homogenous offering, 888 continues to impress investors back home. Having bottomed out at 70.7p back in mid-March, 888’s shares topped 176p last week, in part due to the release of a trading update in which the company predicted its FY20 adjusted earnings would come in “significantly ahead” of prior forecasts.
Racing Sees Bump in Overall Handle in June
Like all sports racing is facing challenges because of the COVID-19 pandemic, but with extensive coverage on national television, fans are finding the sport.
UK gambling participation continues to decline despite increased betting options
The UK gambling market’s participation rate continues to decline despite the resumption of some major football betting markets.
Figures released Monday by the UK Gambling Commission (UKGC) show there were 14.66m active gambling customers in the month of May, down from 14.83m in April and from 15.62m in March. The UKGC compiled its stats from data supplied by the market’s biggest online operators, covering around 80% of the UK’s online market.
The return of Germany’s Bundesliga football boosted betting revenue to £101.3m in May, up 63.6% from April but still well back of the nearly £161m in March (which included the Cheltenham Festival). Virtual betting suffered as a result of the live game’s return, falling 12% month-on-month to £11.3m, while eSports betting rose 36% to £4.6m (which was triple the March eSports tally).
Online slots revenue jumped 29.4% to just under £184.3m, while other casino games rose a mere 1.2% to £77.9m. Hopes of another online poker boom turned to bust in May, as revenue slipped to £18.3m, down 8.7% from April although that was still 50% higher than March. The poker bust had a negative effect on average gambling session length, which fell 8.3% from April to May.
NagaWorld casino to reopen VIP table, slots ops as Cambodia lifts restrictions
Cambodia’s largest casino operator NagaCorp plans to partially reopen its flagship Phnom Penh gaming venue on Wednesday, July 8 following its three-month COVID-19 shutdown.
On Monday, NagaCorp announced an agreement with Cambodia’s Ministry of Health that will see the company reopen its VIP table game and slot machine elements of its NagaWorld casino on Wednesday. Mass market gaming operations will reopen at an unspecified later date.
NagaCorp claims the agreement was signed with the government on June 30, four days prior to the government officially announcing its decision to permit the country’s casinos to reopen. The government ordered all casinos to close on April 1 in a bid to minimize COVID-19 transmission.
NagaWorld’s restart was subject to the Ministry approving certain health and safety measures, which reportedly occurred following a physical inspection of the casino on July 4. Slots capacity will be reduced to 50% while gaming tables will be limited to three customers apiece – effectively 43% capacity – and no ‘standing’ bets will be permitted.
Mike Matusow blows up at perceived World Series slowroll
He’s not renowned for maintaining either his mood or a discreet distance from drama, but even for Mike ‘The Mouth’ Matusow, the last week has been a rollercoaster one.
You might think that an online WSOP would be something that might restrict the usually flippant Matusow, often seen roaring up the halls of the Rio in his motorized cart in recent years at the World Series in Las Vegas. Due to the global pandemic, ‘The Mouth’ has been reduced to staying in for the most part and using his podcast The Mouthpiece to sound off about the world.
That was until last night, when a beat in the latest World Series of Poker online saw Matusow go on a crazy rant after being slowrolled in his eyes.
Matusow, clearly angered by having to wait for the winning hand to be revealed by the poker player Megan Milly, known as the Poker Hippie on Twitter tweeted the worst four-letter word you can think of in calling out the slowroll.
Premier League Preview – Gameweek #34
Across Tuesday, Wednesday and Thursday, there are 10 games in the English Premier League, with Project Restart having been a roaring success. The greatest club league in the world nears its conclusion and with plenty still to be decided, there are great sportsbetting opportunities for the gifted investor. Or perhaps just those who have read the following guide to the 20 teams taking to the deserted stadiums up and down the country.
Arsenal vs. Leicester City (Tuesday, 8.15pm GMT kick-off)
A fascinating game will take place at the Emirates Stadium as Arsenal, once a Champions League rival to many, will attempt to stop Leicester City in their tracks as the Midlands side race towards a 3rd-place finish.
Arsenal have, on the face of it, been in terrific form as they’ve won their last four games, but in beating Norwich, Wolves and Southampton, they’ve also been gifted goals. The form of Bukayo Saka, however, has been a huge plus this season for The Gunners and he notched his first league goal at the weekend.
European Football Round-Up – Ronaldo sets Juventus record, Bayern Munich win German Cup
It was a weekend of football action across Europe that saw Cristiano Ronaldo, Lionel Messi and Robert Lewandowski all playing their hearts out to inspire their teams to further heights. Who would look back on the results across Saturday and Sunday with pride, and who would do so with regret? We’ve got your European travelogue of football highlights.
Serie A Title Within Old Lady’s Grasp
It’s almost impossible to see Juventus letting their lead slip now. After a weekend in which their challengers fell away, the ‘Old Lady’ of the Italian Serie A were almost flawless in moving clear of their rivals.
Lazio, Juventus’ main rivals for the title, were thrashed 3-0 at home to an A.C. Milan side inspired by Swedish footballing superstar Zlatan Ibrahimovich, while it was almost even worse for Inter Milan, who led 10-man Bologna until a late reverse saw Anotnoio conte’s side beaten 2-1 late in the game.
UKGC commissioner Cohen approved for another four-year stint
Stephen Cohen must be a glutton for punishment. He has served as a commissioner with the UK Gambling Commission (UKGC) since 2016 and will now be there for another four years. His involvement with the gambling regulator continues as the organization is catching a lot of heat from politicians and anti-gambling groups looking to flip the UK’s gambling industry on its head and after some have called the UKGC weak and “toothless.”
The Secretary of State for Digital, Culture, Media and Sport (DCMS), Oliver Dowden, approved Cohen’s return for another four years last week. He’ll now be able to fight the UK’s anti-gambling community until November 2024, hoping to keep the ship sailing smoothly. Given his background in corporate finance and governance of mass-market operations, he has a mind that is focused on numbers and audits that should prove beneficial to the UKGC’s integrity.
Cohen has also been a part of companies like JPMorgan Japan Trust and Schroder UK Public-Private Trust, where he has served as the chair of the two firms’ audit committees. The UK Health & Care Professions Council, which provides regulatory oversight of around 370,000 healthcare workers, also counts on Cohen as one of its members.
As a commissioner of the UKGC, Cohen will earn about $368 (£295) a day. He’s going to earn every penny of it, too, given the state of gambling affairs currently seen in the UK. The country has been revamping its gambling laws for over a year, but, more recently, has begun a major crackdown that could substantially alter the landscape. In addition to calling for blanket bans on gambling ads and sports sponsorships, there is a push to drastically reduce how and where gamblers can wager, and politicians want to put the UKGC through the wringer. Essentially, the UK wants to make it illegal to even utter the words “I bet” as government officials look to exert total control over individuals’ actions.
Bali ready to embrace tourists after coronavirus lockdown
The Indonesian island paradise of Bali is ready to rebuild following the economic destruction caused by the coronavirus pandemic. Relying heavily on tourism to make a living, the island has suffered drastically as a result of the health debacle, but is going to start taking steps toward recovery. If everything goes according to plan, tourists will be able to visit the picturesque beaches and amazing monuments as early as this September.
A government decree, the “New Era of Life Order Protocol,” is going to pave the way for a return of tourism to Bali. It lays out the return of economic activity in phases, and was announced by Bali Governor I Wayan Koster after a public prayer held at the Besakih Hindu temple in Karangasem. Over 1,000 people attended the event, which included the call to the heavens to help restore things to their normal pace.
In the first phase of recovery, which will start July 9, businesses will be allowed to open their doors to locals, with the exception of tourism-based operations. On July 31, domestic tourism will be allowed, as long as phase one goes well, and Indonesians will be able to make their way to Bali for some fun in the sun. After that, on September 11, international tourism will be launched. It hasn’t been made clear if coronavirus testing will be required or if other health measures will be implemented. The governor only stated during Sunday’s ceremony, “I ask all Bali manners to carry out activities in these three stages by applying the New Era of Life Order Protocol in an orderly, disciplined, and with a full sense of responsibility, such as: always wearing a mask/face shield, keeping a distance, not crowding, diligently washing hands, and Clean and Healthy Behavior, as well as maintaining endurance.”
Bali needs its tourism to survive. This past May, hotels saw occupancy of only 2.07%, according to The Bali Sun, down from 62.55% in December. It’s a 51.99% year-on-year drop, and a huge loss of revenue. The governor is desperate to see things return to normal, asserting, “For more than three months we have forbidden people to travel and close their businesses. This can’t go as the impact on the economy is too great. People’s lives need to get well again.”
Washington Redskins owner surprised as partners look to dump shares
The current atmosphere in the U.S. regarding social equality is reaching all corners of all industries. It has caused a resurgence of demand for one NFL team, the Washington Redskins, to change its name from one that is “offensive” to native Indians to something more innocuous. Although the team’s majority owner, Dan Snyder, has asserted that the name that has endured for almost eight decades won’t change anytime soon, his hand may now be forced. Snyder began to receive additional pressure last week from corporate entities with which the team does business and, while that certainly has had an impact, the fact that all of the team’s minority owners are looking to bail may have served as the ultimate wakeup call for Snyder.
According to a report by The Washington Post, Robert Rothman, Dwight Schar and Frederick W. Smith have begun shopping around for someone to buy their ownership shares. They have brought in an investment banking firm to help find potential candidates and, according to a source close to the action, the reason squarely sits on Snyder’s shoulders. One source said that the trio is “not happy being a partner” of the majority owner anymore.
It was believed that Snyder would at least be able to keep Smith in his corner. Smith is the CEO of FedEx, which is a major corporate partner of the Redskins. Just over a decade ago, the two entities signed a $205-million deal for naming rights for the stadium that became known as FedEx Field, and which was put in place for 27 years. However, it now appears that Smith is willing to jeopardize the relationship if Snyder doesn’t agree to a name change for the team.
Someone close to the deal said that Snyder was caught off guard by the sudden decision of the shareholders to dump their combined 40%. The individual told John Keim of ESPN that Snyder had considered the three to be close friends, and never expected them to step away from the relationship. However, Snyder is now learning – the hard way – that friendship only goes so far when it comes to business decisions.
Station Casinos president dies in July 4th boating accident
What should have been an otherwise extremely exciting and fun-filled day marking both the freedom of U.S. independence and freedom, relatively speaking, from the coronavirus turned into something tragic. Richard Haskins, the president of Red Rock Resorts and Station Casinos, was enjoying the 4th of July weekend with his family on Lake Michigan on Saturday when he decided to take a jet ski out for a spin. The details are still a little sketchy on what may have transpired next, but what is known is that, at some point, the watercraft Haskins was riding collided with a boat, resulting in his death. He was retrieved from the water and taken to shore, but couldn’t be revived.
Red Rock issued a statement Saturday night about the accident, explaining, “It is with profound sadness that we announce that Richard J. Haskins, President of Red Rock Resorts, Inc. and Station Casinos LLC, died today in a watercraft accident while vacationing in Michigan. The entire Station Casinos family mourns this loss. On behalf of our Board of Directors, management team and employees, we extend our deepest sympathies to the Haskins family.”
The 56-year-old Haskins had been leading Red Rock since October 2015 after having spent a number of years at the company as a senior executive. He apparently had taken his family to Lake Michigan for the weekend and the accident occurred after his Sea-Doo collided with a Magnum powerboat being driven by 77-year-old James Moffatt. The accident reportedly occurred around 2:15 Saturday afternoon in the northern tip of Michigan’s lower peninsula near Emmet County. No details have been provided about the status of Moffatt.
Frank Fertitta, CEO and chairman of Red Rock, issued his own statement about Haskins, saying, “Words cannot express what Rich has meant to the Company and to me in the 25 years he has been with Station Casinos. He was a trusted advisor, a brilliant strategist, a steady hand in good times and in bad and most important — a friend to all. It is very hard to imagine Station Casinos being the Company it is today without Rich. He will be sorely missed by all who knew him. Our thoughts and prayers are with his children, his family and his loved ones.”
Station Casinos president dies in July 4th boating accident
What should have been an otherwise extremely exciting and fun-filled day marking both the freedom of U.S. independence and freedom, relatively speaking, from the coronavirus turned into something tragic. Richard Haskins, the president of Red Rock Resorts and Station Casinos, was enjoying the 4th of July weekend with his family on Lake Michigan on Saturday when he decided to take a jet ski out for a spin. The details are still a little sketchy on what may have transpired next, but what is known is that, at some point, the watercraft Haskins was riding collided with a boat, resulting in his death. He was retrieved from the water and taken to shore, but couldn’t be revived.
Red Rock issued a statement Saturday night about the accident, explaining, “It is with profound sadness that we announce that Richard J. Haskins, President of Red Rock Resorts, Inc. and Station Casinos LLC, died today in a watercraft accident while vacationing in Michigan. The entire Station Casinos family mourns this loss. On behalf of our Board of Directors, management team and employees, we extend our deepest sympathies to the Haskins family.”
The 56-year-old Haskins had been leading Red Rock since October 2015 after having spent a number of years at the company as a senior executive. He apparently had taken his family to Lake Michigan for the weekend and the accident occurred after his Sea-Doo collided with a Magnum powerboat being driven by 77-year-old James Moffatt. The accident reportedly occurred around 2:15 Saturday afternoon in the northern tip of Michigan’s lower peninsula near Emmet County. No details have been provided about the status of Moffatt.
Frank Fertitta, CEO and chairman of Red Rock, issued his own statement about Haskins, saying, “Words cannot express what Rich has meant to the Company and to me in the 25 years he has been with Station Casinos. He was a trusted advisor, a brilliant strategist, a steady hand in good times and in bad and most important — a friend to all. It is very hard to imagine Station Casinos being the Company it is today without Rich. He will be sorely missed by all who knew him. Our thoughts and prayers are with his children, his family and his loved ones.”
85-year-old involved in illegal sports gambling ring pleads guilty
This past February, ten people were indicted in the U.S. for their participation in an illegal sports gambling ring out of Illinois, including the mayor of Mattawa, Casey Urlacher. Urlacher is the brother of Brian Urlacher, a former linebacker for the Chicago Bears, and is also a former linebacker from the Arena Football League. Involved in the activity was Eugene “Geno” DelGiudice, who has now had his day in court, virtually due to the coronavirus. The 85-year-old appeared before a judge last Thursday, pleading guilty for his creative entrepreneurship. DelGiudice will have to wait until this October to find out what will happen to him, and he could face up to five years behind bars.
The octogenarian’s son, Vincent “Uncle Mick” DelGiudice, reportedly ran the Uncle Mick’s Sports website, which allowed sports gamblers to buy usernames and passwords to place pay-per-head wagers through offshore gambling sites, including at least one in Costa Rica. The nine others who were indicted, including Vincent’s father, were reportedly agents of the operation, in charge of managing collections and payments for the company. The elder DelGiudice was busted through an FBI wiretap where he admitted to someone that he was part of an illegal sportsbook that reportedly had over a thousand clients.
With that information in hand, law enforcement officials served a warrant on “Uncle Mick’s” home, where they discovered over $1.1 million in cash, around $500,000 in jewelry and bars of pure silver. It isn’t clear from the news offered by the Chicago Sun-Times if all of the assets came from the illegal gambling outfit, but the odds are good. DelGiudice admitted to the judge that the sportsbook intermediary had been operating from 2016 to 2019 and that it had generated millions of dollars in revenue. Payments for monthly fees for access to the websites were sometimes made through cashier’s checks, as well as checks written to cover the college tuition of the younger DelGiudice’s daughters.
This isn’t the first time that father and son have had some trouble with the law. They were both busted about 14 years ago for, of course, illegal gambling, and they got off with just a slight slap on the wrist and court supervision. This time, things will be a lot different, and the younger DelGiudice is looking at charges of conspiracy to conduct an illegal gambling business, conducting an illegal gambling business, conspiracy to commit money laundering and six counts of money laundering. On just the six counts of money laundering, he could face up to 120 years in prison.
2020 second quarter to be “worst quarter ever” for Macau
This year got off to a shaky start for casinos in Macau, thanks to COVID-19, and things aren’t getting better yet. The second quarter of the year is now in the books, and the international gambling hub would probably like to start over. Once the final tallies are in from the various casino operators in the city, it’s expected that the numbers will be in the red, and Morgan Stanley analysts foresee an EBITDA (earnings before interest, taxes, depreciation and amortization) loss of over $1 billion for the quarter. According to the multinational financial firm, it will be the “worst quarter ever” for Macau.
Combined, Macau’s casino operators could report as much as $1.04 billion in losses, with Sands China and Melco Resorts Entertainment accounting for almost half of that. According to Morgan Stanley’s Praveen Choudhary and Gareth Leung, the two will see around $286 million and $205 million in losses, respectively. How each of the six operators manage their recoveries and show operational resiliency will ultimately determine who is in a better position financially, as evidenced by improved stock performances, regardless of the hit taken by the coronavirus.
The analysts add, “Macau stocks rose 21% in 2Q20, outperforming the Hang Seng Index by 15 percentage points; we think the market believes the worst is behind us and pent up demand and removal of overseas destinations as a choice could drive upside to estimates. While 2Q numbers may not provide when the travel restrictions will be lifted or how big 2021 could be, it can answer two questions: (1) who controlled costs the most, and (2) who lost the least as a percentage of Enterprise Value.”
A year ago, in the second quarter of 2019, Macau enjoyed gross gaming revenue of $2.4 billion, which has now been almost completely stripped away across the first six months of the year. Most recently, in June, gaming revenue fell 97% to only $89.7 million to make a huge impact on the city’s economy. Since the beginning of the year, revenue at Macau’s casinos has dropped 77.4%.