Michael Dotts, an attorney for Imperial Pacific International (IPI), has confirmed what the rest of the world already suspected. The embattled casino operator behind the long-delayed Imperial Palace in Saipan doesn’t have the money required to satisfy a judgment against it and wants to be able to work out some type of payment plan. IPI is on the hook for almost $3 million through an order pushed through the courts by the U.S. Department of Justice (DOJ), as well as millions more to other government and private entities, and has thrown itself on the mercy of the court in the Commonwealth of Northern Mariana Islands (CNMI) as it seeks leniency. Based on recent assertions by the court, however, leniency might be off the table.

CNMI Chief Judge Ramona V. Manglona has already found IPI, as well as its chair, Cui Li Jie, to be in contempt of court for not making good on its financial obligations. Last week, she suggested that, should the company not come up with the outstanding money, she might put it in receivership, selling IPI’s assets to pay everyone off. Dotts informed the court that “IPI lacks funds to make the deposit that the U.S. Department of Labor has requested” and hopes that an installment plan can be worked out. 

IPI was to pay $788,022.54 in outstanding wages to its employees, as well as $1.3 million in salary and overtime pay dating back to 2016 and 2017. It was also ordered to set aside $800,000, to be put in an escrow account, to cover employee wages should it default once again. Some of the wages have already been paid, but Dotts explained that one payroll, meant to be covered on January 29, was still outstanding. If IPI can’t come up with the funds to make good on a single pay period, it isn’t clear how it intends to stay up to date with future payrolls while making installment payments to pay off its debt.

In addition to fights over money with the DOJ and CNMI gaming regulators, who are still owed several million dollars, IPI has a new battle to deal with. Xerox wants the court to issue a default judgment against the company for not taking care of its debt. It is looking for just over $182,905 in damages, late fees and interest, which it contends are covered in the service agreement signed by the two companies in 2016.

The battle to win the English Premier League is sure to go to the wire, but the battle to stay in the division is arguably even more difficult for the teams involved.

With clubs such as Manchester City, Liverpool and Manchester United all trying to win the 2020/21 English Premier League title, bookmakers are hedging their bets as to who might lift the trophy. But when it comes to the bottom three, each of Sheffield United, Fulham and West Bromwich Albion are odds-on to be relegated to the Championship.

Could either of the clubs escape the drop and if so, who could take their place and be plying their trade in The Championship next season? Let’s take a look.

Two Teams Look Doomed

Ark Investment Management is betting on gambling. The large asset management firm has taken an interest in DraftKings, purchasing 630,000 shares of the sports gambling and fantasy sports operator to add to its ARK Next Generation exchange-traded fund (ETF). ETFs have been around for a long time, but have begun to see more interest in recent years as a way to make investments in certain industries while minimizing, to a degree, the risk involved. 

Since DraftKings went public last year, it has enjoyed almost constant growth. On June 1, it was trading at $43.70 before spiking at $63.78 on October 2. It bounced around a little since then but, as of yesterday afternoon, was trading at $59.31. Ark, a major supporter of Tesla’s future, is confident that it will be able to capitalize on that growth, as well as future climbs, and it has the track record of success to back it up. Over the past three years, the Next Generation ETF has seen a return of more than 273%, more than double the return from the S&P 500 and the S&P 500 Technology Index combined. 

Part of the decision to invest in DraftKings and add it to the ETF was a forecast provided by Ark analyst Nicholas Grous. He believes that sports gambling, as well as eSports and fantasy sports, have nothing but pure upside potential going forward and predicts 31% in the compound annual growth rate (CAGR) for the combined activity through 2025. Online sports gambling alone is poised for massive growth, with Grous anticipating a handle of $180 billion within four years. That would be ten times the handle from 2019. 

Grous, who follows the gaming industry for Ark, adds, “Since it legalized online sports betting in mid-2018, for example, New Jersey’s online handle has totaled $12 billion, half of which took place in 2020. Based on the $12 billion, we believe New Jersey has earned $100 million in taxes and enabled sports betting companies to generate $750 million in revenue. In the last two weeks, both New York and Texas have weighed in favorably on the prospective approval of online sports betting and, given their desperate need to plug gaping deficits, other states seem likely to follow.”

Casino employees in places like Macau are used to getting annual bonuses as a sign of appreciation for their hard work and dedication, but it isn’t a widespread practice in many other locations. Hard Rock International (HRI) is bucking the trend and has announced that it is prepared to give some of its employees in the U.S. some extra cash this year. The bonus, according to the company, is a way to thank the workers for toughening it out during a stressful time and for helping the casino operator provide a safe environment for guests, as well as employees.

HRI is ready to hand out over $1 million in bonuses to staff in New Jersey, with a total of 2,184 workers expected to receive some money. Hourly employees, of which there are reportedly 1,822, are set to be given $250, supervisors and salaried employees (197) will receive $500 and managers (165) will pick up $1,000. The company’s chairman, Jim Allen, explains, “The dedication of our team members has been crucial to driving the success of our casino resorts, and we are proud that Hard Rock Atlantic City has been able to prevail during these challenging times. We are committed to the well-being of our valued team members.”

In addition to those employees in New Jersey, workers in other locations are going to receive some extra money, as well. Bonuses are expected to be provided to staff in Florida and more; however, Allen didn’t specify the breakdown or which other areas might be included. It also isn’t clear when the money will be put in the hands of the employees.

HRI has been generous to its staff before. At the beginning of last year, it handed out around $2 million to employees in New Jersey as a sign of appreciation for their work in helping the company come close to reaching its business goals. That, of course, was before it took a massive hit from COVID-19 that is still being felt today, with casinos in Atlantic City only operating at 25% of their normal capacities.

Are you thinking of betting on the Super Bowl? The biggest North American sporting event always ends up being a huge day for sports books, with thousands of new players creating accounts at online sites just to bet on the big game. To help you get your bet in with the least hassle, we’ve got some tips for you.

Find the right sportsbook for you

If you’re lucky, you live in a country or state that has lots of different sports betting options. If you’re not, you might only have one or two options.

If you don’t know what your options are, helpful sites like OddsShark have a breakdown by region. With a resource like this, you can find the right sportsbook for you, and get a great promo for signing up.

Rod Ratcliff, the former CEO and chairman of Spectacle Entertainment, has made a spectacle of himself. He, along with several other people tied to Spectacle and Centaur Gaming, came under fire for allegedly tampering with elections in 2015, and the Indiana Gaming Commission (IGC) wasn’t impressed with his actions. It launched an investigation into Ratcliff and the rest of the gang a year ago, with the prospect of Ratcliff being forced out of the casino business in the state. That possibility is now being realized and the IGC is following through on its warning that it could revoke Ratcliff’s license after temporarily suspending it last December.

The saga involves the former Spectacle CEO, as well as the casino operator’s VP and general counsel, John Keeler (also the former VP and general counsel of Centaur), who has already been indicted on charges of campaign fraud. A lot of underhanded dealings were said to have been conducted to try to help Brent Waltz, now a former Indiana senator, win a seat in Congress. Charges included conspiracy, falsification of documents, obstruction of justice, receipt of illegal campaign funds and more. 

Ratcliff was never charged in the case; however, his proximity to the others forced him into the hot seat and, during its investigation, IGC discovered a number of violations at Spectacle that raised red flags. They also determined that he had been involved in overseeing operations at Spectacle’s Majestic Star Casino in Gary after he resigned as the company’s chairman and CEO. Not only was he an outsider at that point, but he also disobeyed a direct order from the IGC to not get involved.

As the investigation advanced, other troubling activity was uncovered, as well. The IGC reports that Ratcliff had an undisclosed account with racing betting platform FastBet and, while running Centaur, would have employees make deposits from Centaur operations to that account. It is believed that he received about $900,000 over four years, with the money being logged in Centaur’s books as “marketing” expenses. 

It’s not possible to talk too much about the upcoming Super Bowl this weekend. This is expected to be one of the hottest Big Games in history, with Tom Brady and the Tampa Bay Buccaneers looking to keep Patrick Mahomes and the Kansas City Chiefs from winning their second consecutive Lombardi Trophy. The hype has been building for a while and, as Super Bowl LV approaches, it is beginning to look like the game is going to be another huge success for the sports gambling market.

Over the past 12 months, since Super Bowl LIV was held, 36 million more Americans can now place wagers in legal markets in the U.S. As a result, according to the American Gaming Association (AGA), it is estimated that 23.2 million Americans will place bets, with $4.3 billion expected to be wagered. Leading the crowd will be online wagers, with 7.6 million gamblers forecast to turn to online sportsbooks this year. That’s a 63% increase from last year. 

Bill Miller, AGA’s president and CEO, predicts, “This year’s Super Bowl is expected to generate the largest single-event legal handle in American sports betting history. With a robust legal market, Americans are abandoning illegal bookies and taking their action into the regulated marketplace in record numbers.” 

The figures, which were provided through a limited survey conducted by Morning Consult, show an overall drop in gambling dollars to be spent this year. This is primarily due to the ongoing COVID-19 situation; however, if history repeats itself, the prediction will fall short of the actual handle after all the numbers are run through calculators. There are now 21 states, plus the District of Columbia, that have legal sports gambling markets up and running. Four other states have approved the activity, but haven’t been able to work quickly enough to get everything in place in time for the Big Game. Last year, it was predicted that around $6 billion would be wagered on the game, but the final tally was over $21 billion.

Tekkcorp Capital President and CEO Matt Davey believes that the gambling industry is headed in the right direction after the disruptions of the last twelve months. He sat down with Calvinayre.com lead reporter Becky Liggero Fontana to share his thoughts on the industry. 

While the industry has experienced some downturn in the face of COVID-19, Davey can see the light at the end of the tunnel for investors:

“From a pure investing perspective with interest rates incredibly low, institutional investors are looking for where they can get growth and so they’re prepared to pay a high multiple for today’s business on the basis that it’s going to grow rapidly. I think with online gaming and sports betting you actually have that environment.”

Davey speaks from a depth of knowledge and wisdom. “We’ve been in the market invest in capital for the last two years or so and we’ve looked at both private deals and public deals,” he said. “When it comes to doing significant deals, typically we’ve looked for partners to execute those deals and organizing both the sale and negotiating a great agreement with the vendor and then negotiating the capital requires two sets of negotiations,” he said. 

Was the solution to reducing Covid-19 transmissions always as simple as a fancy magic show, with lights, mirrors and fog? The Grignard Company, based out of New Jersey, have received an emergency exemption for their fog-like solution to suppressing Covid-19 airborne transmission.

Grignard Pure, a a first-of-its-kind continuous antimicrobial air treatment sprays triethylene glycerol in the air, killing Covid-19 particles. While the liquid is used in all sorts of industrial manufacturing processes, you’ve most likely encountered it coming out of fog machines, like at a magic show, or maybe something more adult at the Las Vegas strip.

The EPA approved a request from Georgia and Tennessee for it’s use “as an additional tool in limited situations to aid in the fight against COVID-19.”

Ross Mollison, founder of Las Vegas-based company Spiegelworld and producer of variety shows, hope Nevada gets the same clearance. “It sounds like a miracle hair elixir, but the EPA is saying it works and it’s being tested in Broadway theaters,” Mollison said. “If it gets approval in Nevada, it has enormous applications, from malls to casino floors to places like ours.”

This is a Guest Contribution by Emily Haruko Leeb. Visit her site at www.emilyleeb.com to know more.

I’ve been a professional coach for seven years, and I still cringe at the term ‘life coach.’ It makes me uncomfortable.

Why? Probably because the coaching industry is unregulated. Your grandpa, your gardener, or your dog can call themselves a coach. It means you need to actively seek a coach who took the time to meet the certification requirements with a professional body.

Some coaches have honed their craft over the years, spending countless hours training and developing their skills to earn their reputation. Unfortunately, some decide to call themselves a coach, possibly with little or no experience or training at all. And isn’t that cringeworthy?

Momentum is building for Arizona Governor Doug Ducey’s plan to introduce sports betting in the Grand Canyon state. A new bill proposed in the state house would allow online wagering, fantasy sports contests and keno games.

The bill, put forward by Rep. Jeff Weninger, would specifically allow these offerings from off-track betting locations and social clubs, like the American Legion. It comes as Ducey is working on a deal to allow sports betting at tribal casinos and venues owned by professional sports teams.

With a very Republican talking point, Weninger explained the benefits of his bill. “With that comes tax revenue without raising taxes, and allows us to keep our tax rates low,” Weninger said.

The bill takes into account Ducey’s push as well, allowing 10 licenses to go to por sports teams, like the Phoenix Coyotes, Arizona Diamondbacks and Arizona Cardinals, but could also be extended to pro golf and racing. Licenses would also be made available to the two dozen tribal casinos in the state.

Odds courtesy of OddsShark.com

We’ve already looked at the MVP prop for Super Bowl 55 and on Wednesday will examine some actual game props, but today let’s break down some of the more unusual “special” props on Sunday’s game from Raymond James Stadium in Tampa, Florida, between the host Tampa Bay Buccaneers and Kansas City Chiefs. Kansas City remains a 3-point favorite and it seems unlikely that spread will move by kickoff Sunday at 6:30 p.m. ET.

Certainly, one of the biggest storylines of Sunday’s game is Tom Brady playing in his 10th Super Bowl and looking to break a tie with his former New England Patriots head coach, Bill Belichick, with a record seventh ring. Brady definitely got the best of that breakup as the Patriots missed the playoffs for the first time since 2008 and finished with a losing record for the first time since 2000 (the year Brady was drafted).

There’s little doubt that Belichick will be mentioned at some point in the CBS telecast and the OVER/UNDER amount of times during the game (excluding halftime and commercials) is 1, but with the OVER a heavy -310 favorite. There is also an OVER/UNDER two times the Patriots are mentioned, with OVER a -160 favorite.

The latest Super MILLION$ final table features nine players of the highest calibre and Tuesday night will see a new champion awarded the title and a top prize of $424,580.

It is American pro Nick Petrangelo who has the chip lead with 3,908,741 chips and the popular high stakes player and Upswing Poker coach – who ironically has constructed a whole tutorial about how to win tournaments – will be hopeful of closing it out. He’s the betting favourite going into the final, too, as you can see below.

With just under 80 big blinds, Petrangelo may have attracted more bettors, but the money was right behind Michael Zhang and while he’ll respect Petrangelo’s established poker history, he won’t be afraid of taking on the leader, sat behind 2,825,669 chips himself.

Sandwiched by those two huge names is Bert Stevens, who will go into play second in chips with 3.2 million chips, not too far behind Petrangelo’s stack. While Pentrangelo is hunting his first Super MILLION$ title, having a best finish of third in late December, Stevens has already won a Super MILLION$ title having bagged the title in September, and if he can make the final six players will kick his earnings on GGPoker well past $4.5 million.

Bringing live poker back has its challenges whenever it has been absent for some time. In a global pandemic reliant on people staying apart from each other, it’s virtually mission impossible to do so safely. So, in one sense, it’s hats off to the PokerGO and Poker Central team as the recently-announced ARIA High Roller Series came back to Las Vegas.

Taking place at the ARIA Casino & Resort, three tournaments over three days provided poker players with a chance to bag six-figure wins in the case of four players.

Opening Night Win for Smith

On Thursday night, 34 entries took their seats for $10,000 without rake (if they in pace for the game to start) in face-masks as ARIA filled up with some great players, including the eventual winner of the event, Dan Smith. The Double Up Drive charity director Smith won $136,000 by outlasting a field including four others who cashed.