Monthly Archives: November 2020

Phil Ivey Reborn Just in Time for Season 8 of High Stakes Poker (VIDEO)

Phil Ivey is back and feeling better than ever, according to the latest installment of his conversation with fellow poker pro, Barry Greenstein.

Phil Ivey is back in love with poker after learning to live in the moment and diversifying his interests. (Image: Daily Mirror)

The laidback interview shows a lighter side of Ivey. Despite being one of poker’s most high-profile players, the American has often been a closed book.

However, with help from Greenstein, he’s opened up. In the most recent video, Ivey discusses his rise to the top, how he fell out of the love with the game, and why he feels rejuvenated.

Pennsylvania to get new satellite casino next week

Just in time for Thanksgiving, and amid a trend that is finding more casinos shutting down because of COVID-19, Pennsylvania is about to get a new gambling property. The Cordish Companies will open its first retail casino in the state next week when it holds a full launch of its Live! Casino Pittsburgh on November 24. The casino has been holding soft launches leading up to the big day and is apparently now ready to take the plunge. 

This venue is one of five satellite casinos Pennsylvania gaming regulators have approved to be built as the state’s gaming market continues to expand. The Cordish Companies, which has primarily focused on the development of entertainment districts, brought its Live! brand to the state a couple of months ago with an online alternative and is now heading into the brick-and-mortar gaming segment. 

The new venue can be found at an existing shopping mall, making it the first to be set up in a commercial shopping center. The timing couldn’t be better, as the Live! Casino Pittsburgh will be able to capitalize on any foot traffic available as consumers get into the holiday gift-buying spirit. At the same time, however, COVID-19 is going to keep a certain crowd away. However, Jon Cordish of The Cordish Companies is ready, and states, “As a family-owned business for over 100 years, today marks a special day for my family and The Cordish Companies, as we expand our Live! Casino brand into Pennsylvania for the first time.”

The venue covers two floors and the first floor includes 30 gaming tables and 750 slot machines, as well as a sportsbook operated by FanDuel. The upper floor includes dining and drinking options, such as Guy Fieri’s American Kitchen + Bar and the Sports & Social Steel City, and is open to all ages. Access to the casino, however, is restricted and no one under 21 can enter. 

Pennsylvania to get new satellite casino next week

Just in time for Thanksgiving, and amid a trend that is finding more casinos shutting down because of COVID-19, Pennsylvania is about to get a new gambling property. The Cordish Companies will open its first retail casino in the state next week when it holds a full launch of its Live! Casino Pittsburgh on November 24. The casino has been holding soft launches leading up to the big day and is apparently now ready to take the plunge. 

This venue is one of five satellite casinos Pennsylvania gaming regulators have approved to be built as the state’s gaming market continues to expand. The Cordish Companies, which has primarily focused on the development of entertainment districts, brought its Live! brand to the state a couple of months ago with an online alternative and is now heading into the brick-and-mortar gaming segment. 

The new venue can be found at an existing shopping mall, making it the first to be set up in a commercial shopping center. The timing couldn’t be better, as the Live! Casino Pittsburgh will be able to capitalize on any foot traffic available as consumers get into the holiday gift-buying spirit. At the same time, however, COVID-19 is going to keep a certain crowd away. However, Jon Cordish of The Cordish Companies is ready, and states, “As a family-owned business for over 100 years, today marks a special day for my family and The Cordish Companies, as we expand our Live! Casino brand into Pennsylvania for the first time.”

The venue covers two floors and the first floor includes 30 gaming tables and 750 slot machines, as well as a sportsbook operated by FanDuel. The upper floor includes dining and drinking options, such as Guy Fieri’s American Kitchen + Bar and the Sports & Social Steel City, and is open to all ages. Access to the casino, however, is restricted and no one under 21 can enter. 

Pennsylvania to get new satellite casino next week

Just in time for Thanksgiving, and amid a trend that is finding more casinos shutting down because of COVID-19, Pennsylvania is about to get a new gambling property. The Cordish Companies will open its first retail casino in the state next week when it holds a full launch of its Live! Casino Pittsburgh on November 24. The casino has been holding soft launches leading up to the big day and is apparently now ready to take the plunge. 

This venue is one of five satellite casinos Pennsylvania gaming regulators have approved to be built as the state’s gaming market continues to expand. The Cordish Companies, which has primarily focused on the development of entertainment districts, brought its Live! brand to the state a couple of months ago with an online alternative and is now heading into the brick-and-mortar gaming segment. 

The new venue can be found at an existing shopping mall, making it the first to be set up in a commercial shopping center. The timing couldn’t be better, as the Live! Casino Pittsburgh will be able to capitalize on any foot traffic available as consumers get into the holiday gift-buying spirit. At the same time, however, COVID-19 is going to keep a certain crowd away. However, Jon Cordish of The Cordish Companies is ready, and states, “As a family-owned business for over 100 years, today marks a special day for my family and The Cordish Companies, as we expand our Live! Casino brand into Pennsylvania for the first time.”

The venue covers two floors and the first floor includes 30 gaming tables and 750 slot machines, as well as a sportsbook operated by FanDuel. The upper floor includes dining and drinking options, such as Guy Fieri’s American Kitchen + Bar and the Sports & Social Steel City, and is open to all ages. Access to the casino, however, is restricted and no one under 21 can enter. 

Happy ending for gambler who had money seized by the DEA

Stacy Jones is a happy camper. In a rarity for the U.S. Drug Enforcement Agency (DEA), it has agreed to return money it seized from her in September after it falsely asserted the money had come from the sale of drugs. It had no evidence to support the claim, but this hasn’t stopped the agency from keeping money in the past. In fact, it has reportedly confiscated more than $4 billion over the past ten years and never returned it while, at the same time, never pressing charges against those individuals from whom the money was taken. 

Jones was set to return home to Florida from a gambling trip to North Carolina with her husband this past September when they were stopped at the airport during a routine security inspection. She had $43,000 in cash with her, and airport security agents became suspicious, despite no law in place that requires the reporting of large sums of cash when traveling domestically. The agents called in the police, who called in the DEA, who submitted Jones and her husband to an intense grilling. 

Not believing their story that they had rightfully come by the money through the sale of a vehicle, the DEA seized the money and accused the pair of having acquired it through the illegal sale of drugs – a charge that the agency could never substantiate with evidence. Despite attempts to appeal to the soft side of the DEA (not that there is one), the agency refused to return the cash, leading to a lawsuit against it. 

Apparently with no word, no apology and no explanation, the DEA has now returned the money, according to a press release by the law firm that represented the couple, the Institute for Justice. Jones said in the release, Getting my money back is a big relief. But DEA never should have taken it in the first place. In going through this nightmare, I found out that I’m not the only innocent American who has been treated this way. I hope that my continuing lawsuit will end the government’s practice of treating people flying with cash like criminals.”

Happy ending for gambler who had money seized by the DEA

Stacy Jones is a happy camper. In a rarity for the U.S. Drug Enforcement Agency (DEA), it has agreed to return money it seized from her in September after it falsely asserted the money had come from the sale of drugs. It had no evidence to support the claim, but this hasn’t stopped the agency from keeping money in the past. In fact, it has reportedly confiscated more than $4 billion over the past ten years and never returned it while, at the same time, never pressing charges against those individuals from whom the money was taken. 

Jones was set to return home to Florida from a gambling trip to North Carolina with her husband this past September when they were stopped at the airport during a routine security inspection. She had $43,000 in cash with her, and airport security agents became suspicious, despite no law in place that requires the reporting of large sums of cash when traveling domestically. The agents called in the police, who called in the DEA, who submitted Jones and her husband to an intense grilling. 

Not believing their story that they had rightfully come by the money through the sale of a vehicle, the DEA seized the money and accused the pair of having acquired it through the illegal sale of drugs – a charge that the agency could never substantiate with evidence. Despite attempts to appeal to the soft side of the DEA (not that there is one), the agency refused to return the cash, leading to a lawsuit against it. 

Apparently with no word, no apology and no explanation, the DEA has now returned the money, according to a press release by the law firm that represented the couple, the Institute for Justice. Jones said in the release, Getting my money back is a big relief. But DEA never should have taken it in the first place. In going through this nightmare, I found out that I’m not the only innocent American who has been treated this way. I hope that my continuing lawsuit will end the government’s practice of treating people flying with cash like criminals.”

Happy ending for gambler who had money seized by the DEA

Stacy Jones is a happy camper. In a rarity for the U.S. Drug Enforcement Agency (DEA), it has agreed to return money it seized from her in September after it falsely asserted the money had come from the sale of drugs. It had no evidence to support the claim, but this hasn’t stopped the agency from keeping money in the past. In fact, it has reportedly confiscated more than $4 billion over the past ten years and never returned it while, at the same time, never pressing charges against those individuals from whom the money was taken. 

Jones was set to return home to Florida from a gambling trip to North Carolina with her husband this past September when they were stopped at the airport during a routine security inspection. She had $43,000 in cash with her, and airport security agents became suspicious, despite no law in place that requires the reporting of large sums of cash when traveling domestically. The agents called in the police, who called in the DEA, who submitted Jones and her husband to an intense grilling. 

Not believing their story that they had rightfully come by the money through the sale of a vehicle, the DEA seized the money and accused the pair of having acquired it through the illegal sale of drugs – a charge that the agency could never substantiate with evidence. Despite attempts to appeal to the soft side of the DEA (not that there is one), the agency refused to return the cash, leading to a lawsuit against it. 

Apparently with no word, no apology and no explanation, the DEA has now returned the money, according to a press release by the law firm that represented the couple, the Institute for Justice. Jones said in the release, Getting my money back is a big relief. But DEA never should have taken it in the first place. In going through this nightmare, I found out that I’m not the only innocent American who has been treated this way. I hope that my continuing lawsuit will end the government’s practice of treating people flying with cash like criminals.”

Happy ending for gambler who had money seized by the DEA

Stacy Jones is a happy camper. In a rarity for the U.S. Drug Enforcement Agency (DEA), it has agreed to return money it seized from her in September after it falsely asserted the money had come from the sale of drugs. It had no evidence to support the claim, but this hasn’t stopped the agency from keeping money in the past. In fact, it has reportedly confiscated more than $4 billion over the past ten years and never returned it while, at the same time, never pressing charges against those individuals from whom the money was taken. 

Jones was set to return home to Florida from a gambling trip to North Carolina with her husband this past September when they were stopped at the airport during a routine security inspection. She had $43,000 in cash with her, and airport security agents became suspicious, despite no law in place that requires the reporting of large sums of cash when traveling domestically. The agents called in the police, who called in the DEA, who submitted Jones and her husband to an intense grilling. 

Not believing their story that they had rightfully come by the money through the sale of a vehicle, the DEA seized the money and accused the pair of having acquired it through the illegal sale of drugs – a charge that the agency could never substantiate with evidence. Despite attempts to appeal to the soft side of the DEA (not that there is one), the agency refused to return the cash, leading to a lawsuit against it. 

Apparently with no word, no apology and no explanation, the DEA has now returned the money, according to a press release by the law firm that represented the couple, the Institute for Justice. Jones said in the release, Getting my money back is a big relief. But DEA never should have taken it in the first place. In going through this nightmare, I found out that I’m not the only innocent American who has been treated this way. I hope that my continuing lawsuit will end the government’s practice of treating people flying with cash like criminals.”

Bitcoin reduces operation costs with P2P and SPV software release

The Bitcoin SV (BSV) Node Team have made an exciting announcement for the BSV blockchain, making payments faster and reducing costs for businesses. Three new software packages will improve Simplified Payment Verification (SPV) and P2P payments.

The new releases add up to the Bitcoin SV Node v1.0.6, mAPI (formerly Merchant API) v1.2.0, and SPV Channels CE v1.0.0. With these new tools, BSV users will be able to make payments directly to each other and not be required to download a copy of the entire blockchain to verify them.

For users, BSV has already been the fastest digital currency payment option. Wallet providers and businesses though have had to handle the burden of verifying payments by downloading the full blockchain. These new tools will relieve them of that additional cost, allowing them to experience the benefits and cost savings of SPV and P2P as well. Only BSV miners will be required to have a full copy of the blockchain

Bitcoin SV Infrastructure Team Technical Director Steve Shadders commented on the latest releases:

Cambodia’s new gaming laws now officially in place

Last month, Cambodia’s National Assembly signed off on a series of measures that were designed to update the regulations for the country’s outdated casino industry. One of the goals of the new laws was to appease the Financial Action Task Force (FATF), which the country hopes will lead to more and better tourism. Despite being referenced by one industry analyst as nothing more than “lipstick on a pig,” the laws are now officially in place and only time will tell if they will find their target. 

Following the approval by the National Assembly, which saw the laws receive 114 out of 117 votes, Cambodia’s Senate signed off on the measures about three weeks ago. The country’s Deputy Director of the Ministry of Economy and Finance, Ros Phirun, has now acknowledged to Inside Asian Gaming that the laws went live this past Saturday. The Law on the Management of Integrated Resorts and Commercial Gambling (LMCG), he asserts, will lead to greater tourism, which will spur Cambodia’s economic growth while seeing more jobs come to the country. 

The new legal framework places a gross gaming revenue tax on casinos, requiring 4% on VIP gaming activity and 7% on the mass gaming segment. The new Integrated Resort Management and Commercial Gambling Committee will oversee the industry, being led by 11 government ministers who will be selected soon. The laws also establish legal gaming zones, as well as prohibited zones and favored zones. The first and second are self-explanatory, while the third implies that the zones listed in that category are the only ones where future developments will be allowed. 

If everything goes according to plan, and the “lipstick on a pig” analyst, Sophal Ear, is incorrect, Cambodia’s gaming laws will be enforced consistently and fairly across the board, allowing the country to expand its tourism efforts. The LMCG contains language that is designed to ensure that all casinos are monitored appropriately, which would ultimately lead to a fairer, safer gaming industry. 

Vietnam’s Grand Ho Tram resort still unable to find solid ground

The Grand Ho Tram Resort & Casino was supposed to be a huge money-maker when it opened on Vietnam’s southern coast seven years ago. However, things haven’t worked out as planned and the ongoing COVID-19 pandemic is helping anything. With waning traffic, and even a change of ownership, things remain stagnant and it doesn’t seem like they will turn around soon. Vietnamese media outlets hint at dire times ahead, but the project’s developers believe they might have an ace up their sleeve.

The revenue track record over the past several years has anything but positive. It reported losses of just over $35.5 million in 2017, followed by losses of around $27.7 million the following year. Adding to that was another poor performance last year, which saw the resort take a $25.8-million hit. All told, since it opened in 2013 until the end of last year, Grand Ho Tram has reported total losses of $378 million. Most of that is attributed to exorbitant operating expenses and interest fees. These figures make the assertion that $4.2 billion would ultimately be invested in the project highly doubtful. 

The Grand Ho Tram was acquired by Warburg Pincus, an equity firm out of the U.S., in March of last year. The company purchased its majority stake, adding to its existing 10%, from hedge fund Harbinger Capital Partners, but hasn’t been able to get the property on track toward gains since then. The property already has a large, 540-room hotel, a foreigner-only casino and an eighteen-hole golf course, but faces one major issue. Since Vietnam is only now testing whether to allow locals to gamble at casinos, Grand Ho Tram can’t expect Vietnamese to hit the gaming floors, and the current coronavirus pandemic is keeping the property from becoming a major attraction. 

This is going to hurt the property in the long run, as well, but a number of changes have been seen recently that executives and investors hope will turn things around. To increase the casino’s gaming options, it must first have in place a certain number of five-star hotel rooms, according to an agreement between the resort and the government. InterContinental Hotels Group (IHG) came in last November to rebrand The Grand Ho Tram Hotel to the InterContinental Grand Ho Tram, and will also take over management of the property’s Holiday Inn Resort Ho Tram Beach. That property was originally expected to open this year but, for obvious reasons, was put on the back burner. 

Sega Sammy offers retirement after 33.4% drop in sales

Japanese operator Sega Sammy Holdings is hoping to find 650 staff who want to retire early. It announced the retirement opportunity after announcing a 33.4% decline in sales for the first half of 2020.

Anyone at Sega Sammy looking for an early way out, with special retirement allowances and re-employment support, has until December 25 to let the company know.

“In the view of the great impact on our business inflicted by the COVID-19 pandemic, we have established a restructuring committee to transform our structure to one adapted to our external environment,” the company said.

The 9,051 full-time employees and contract employees at Sega Sammy are eligible for the program. Should they contact Sega Sammy to opt in between November 16 and December 25, they will begin their retirement on February 28, 2021.

Sports gambling is saving Arkansas casinos from disaster

The U.S. Supreme Court’s smart decision to kill PASPA has proven to be a potential lifesaver for gaming operators around the country, at least in those states with enough foresight to introduce sports gambling. 2018 brought about the changes that have led to states having the ability to establish their own legal, regulated sportsbooks, and 2020 has needed them the most because of COVID-19. Arkansas is one of those who saw the light and made the move to open a sports gambling market, and the state continues to find more revenue from sports wagers as its casinos take a nosedive.

COVID-19 has cost Arkansas casinos more than $1 billion, according to a previous report by the state’s Department of Finance and Administration (FDA). Since sportsbooks first appeared in July of last year, only a little more than a year after the death of PASPA, the money coming in from sports gambling has brought much-needed revenue to the state. In the most recent reporting period, September 20 to October 20, the Arkansas Gaming Commission (AGC) indicates that the state’s three casinos collected a total of just over $7 million in wagers.

Southland Casino Racing led the way with a little more than $4 million during the period, followed by the Oaklawn Racing Casino Resort, which reported $1.73 million. Coming in third was the newest addition to the gambling scene, the Saracen Casino Resort, which saw $726,311. This property only now opened as a fully-functional venue, having previous been limited to a smaller building as construction was completed on the new resort.

Southland’s dominance, which has remained in place since the beginning, can be partially attributed to its location. It sits right across the Mississippi River from Memphis, Tennessee, which only just opened its sports gambling market earlier this month. In the month prior to this latest period, the property saw $2.3 million in wagers, and the increase coincides with NFL and college football being in full force, as well as the run-up to the end of the NBA season.

Academy Awards 2021 host betting markets open

The 2021 Academy Awards are set to go ahead in February, meaning that we’ll get to join the Hollywood elite for one night. Since the first ceremony in 1929, hosting the Oscars has become one of the most sought after gigs in the entertainment industry.

There have been some highlights over the years from Billy Crystal to Whoopi Goldberg, to the less than stellar moments of James Franco and Anne Hathaway.

While some of us are hoping that Kevin Hart will return, we’ve narrowed the field on who will host the 2021 Oscars ceremony.

No Host -225

Gaming Industry News Weekly Recap – Week of November 16

The Americas

Atlantic City casinos continue to show signs of recovery in the pandemic environment. Figures released by the New Jersey Division of Gaming Enforcement (DGE) show AC’s nine casinos generated revenue of $186.1m in October; Detroit casinos face further closures as Governor Gretchen Whitmer orders new lockdown measures. Casinos in Michigan face a long battle to return to profitability as they battle rising COVID cases; Figures released by the Illinois Gaming Board that the industry is recovering. Sports betting handle more than doubled to $305m for the last three months; Online gambling tech supplier GAN have made a bid for Coolbet, as the GAN eye-off an entry into the U.S. market; Criminal charges have been filed against Mashpee Wampanoag Tribal Chairman Cedric Cromwell. Cromwell is accused of multiple bribery charges related to a casino construction; Casino operator Bally’s Corp has inked a sports betting partnership with Sinclair Broadcasting. The deal was ratified by New Jersey gaming regulators earlier this month.

Europe

Latvian based Gaming Innovation Group announced a three year agreement with Sia Admirāļu Klubs. Klubs will provide gaming platform, sportsbook and front-end development content to the casino operator; A new sheriff is in town in the Russian iGaming market. The United Russian party have proposed new legislation that would see sports betting operators slugged with higher taxes; Lewis Hamilton ties Michael Schumacher’s record of seven Formula One titles, after winning in Turkey; Switzerland’s federal gaming board announces seventh online casino. Group Partouche’s Casino du Lac Meyrin has been approved for operation; U.K. bookmaker William Hill’s shareholders have approved the takeover by Caesar Entertainment. Shareholders voted to accept Caesars’s £2.9b offer for the U.K. bookmaker;