Category Archives: In The Biz

Federal judge dodges question of daily fantasy sports’ legality

A daily fantasy sports operator has failed in its attempt to convince a federal court that its business model is agin’ the law.

In September 2015, DFS operator Emil Interactive Games, which operated under the DraftOps brand, inked a marketing deal with the National Hockey League’s Minnesota Wild franchise. The deal gave DraftOps certain advertising privileges and use of the Wild’s trademarks for a period of one year, for which Emil agreed to pay $1.1m, with late fees and interest charged at 1.5%.

The Nevada-based Emil Interactive was dissolved in October 2015, the same month Nevada’s Attorney General declared DFS to be a gambling product that required a gaming license. The company later reincorporated in Delaware, but DraftOps suspended operations shortly thereafter.

As a result, Emil never made any payments to the Wild, leading the Wild to sue Emil, its management company Full Boat LLC and Full Boat’s president Ronald Doumani for breach of contract.

Entertainment Gaming Asia sells remaining Cambodia assets

Gaming technology supplier Entertainment Gaming Asia (EGT) continues to streamline its operations with the sale of its remaining Cambodian slots business.

On Wednesday, the NASDAQ-listed EGT announced that it had sold the remnants of its gaming assets in Cambodia, including 278 electronic gaming machine (EGM) seats at the Dreamworld Club (Poipet), an additional 72 EGM seats held in storage as well as various spare parts and accessories, to the Dreamworld Poipet venue owner for $900k in cash.

The parties also agreed to terminate the EGM operations and participation agreement they’d entered into in April 2012. As a result, ownership of the Dreamworld Club building – which EGT had paid to construct – reverted to the venue owner upon termination of the agreement.

The sale follows EGT’s termination in June of its deal to operate 670 EGMs located in NagaCorp’s NagaWorld casino in Phnom Penh. EGT simultaneously announced that it had sold the EGMs to an undisclosed third party for $2.5m. In October, it sold its 71 EGMs in operation at Cambodia’s Thansur Bokor Highland Resort for $250k.

Marina Bay Sands’ UnionPay voucher program risks Beijing’s ire

Casino operator Las Vegas Sands’ policy of allowing Chinese gamblers to use their UnionPay bank cards to purchase casino chips at its Singapore resort Marina Bay Sands reportedly has Beijing bankers plotting revenge.

Earlier this month, the South China Morning Post reported that Marina Bay Sands was running a ‘resort entertainment’ voucher program that allowed China UnionPay cardholders to purchase gambling chips, in apparent violation of card policy.

Informed of Sands’ chip purchasing program, Xie Zhong, payment settlement director of the People’s Bank of China, told the SCMP that UnionPay cards “should certainly not be used in casinos.” The Singapore Casino Regulatory Authority declined multiple requests for comment on Sands’ policy.

Las Vegas Sands’ corporate spokesman Ron Reese defended its policy, saying the voucher program “was designed to give guests flexibility in purchasing a variety of goods and services.” Reese further claimed that the voucher program operates “in accordance with the terms and conditions of China UnionPay cards.”

Nevada casino revenue falls as football betting slumps 77%

Nevada casinos enjoyed a slight gaming revenue decline in November, while the state’s sportsbooks saw their winnings cut down by more than half.

Figures released Thursday by the Nevada Gaming Control Board show statewide casino gaming revenue of $930.4m in November, down 1.5% from the same month last year. The decline was more pronounced on the Las Vegas Strip, where casinos reported gaming revenue down 3.5% to $517m.

The state’s slot machines did their part to keep the month positive, nudging up 1.5% to $605.2m. Blackjack tables also held up their end, rising 12.9% to $95.8m, while roulette surged 38.9% to $33.6m and craps rose 9.4% to $29.1m. But baccarat let the side down, falling 22.8% to $84.8m.

The state’s sportsbooks enjoyed their 40th straight month of coming out ahead of punters, despite their overall take falling 55.2% to $19.2m. Overall betting handle was 500.6m, down 10.2% from November 2015’s record performance.

3: Barrels: Norwegian Cruise Ships; Larry Flynt and PokerStars Championships Bahamas

3-barrels of exceptional live tournament value including a round-up of the most recent action on a Norwegian Cruise Ship; Larry Flynt is busting out $800,000 in guarantees at the Hustler, and PokerStars prepare for the birth of their new Bahamian baby.

The shipping line company, Norwegian Cruise Line, are showing that the recruitment of a few famous faces helps when promoting your annual poker game.

Joe Cada, the youngest World Series of Poker (WSOP) Main Event Champion, joined the cruise ship company as a poker tour ambassador when he left PokerStars in 2014, and since then the field has grown from 186 entrants to 215 (2015) and 337 earlier this month.

The third iteration of the Norwegian Poker Challenge once again took place on their 1,081 feet long monster: Epic, with the spacious Bliss Lounge hosting 20-tables and luminaries such as former WSOP Main Event Champ, Ryan Riess, and double WSOP bracelet winner, Loni Harwood.

3: Barrels: Norwegian Cruise Ships; Larry Flynt and PokerStars Championships Bahamas

3-barrels of exceptional live tournament value including a round-up of the most recent action on a Norwegian Cruise Ship; Larry Flynt is busting out $800,000 in guarantees at the Hustler, and PokerStars prepare for the birth of their new Bahamian baby.

The shipping line company, Norwegian Cruise Line, are showing that the recruitment of a few famous faces helps when promoting your annual poker game.

Joe Cada, the youngest World Series of Poker (WSOP) Main Event Champion, joined the cruise ship company as a poker tour ambassador when he left PokerStars in 2014, and since then the field has grown from 186 entrants to 215 (2015) and 337 earlier this month.

The third iteration of the Norwegian Poker Challenge once again took place on their 1,081 feet long monster: Epic, with the spacious Bliss Lounge hosting 20-tables and luminaries such as former WSOP Main Event Champ, Ryan Riess, and double WSOP bracelet winner, Loni Harwood.

3: Barrels: Norwegian Cruise Ships; Larry Flynt and PokerStars Championships Bahamas

3-barrels of exceptional live tournament value including a round-up of the most recent action on a Norwegian Cruise Ship; Larry Flynt is busting out $800,000 in guarantees at the Hustler, and PokerStars prepare for the birth of their new Bahamian baby.

The shipping line company, Norwegian Cruise Line, are showing that the recruitment of a few famous faces helps when promoting your annual poker game.

Joe Cada, the youngest World Series of Poker (WSOP) Main Event Champion, joined the cruise ship company as a poker tour ambassador when he left PokerStars in 2014, and since then the field has grown from 186 entrants to 215 (2015) and 337 earlier this month.

The third iteration of the Norwegian Poker Challenge once again took place on their 1,081 feet long monster: Epic, with the spacious Bliss Lounge hosting 20-tables and luminaries such as former WSOP Main Event Champ, Ryan Riess, and double WSOP bracelet winner, Loni Harwood.

3: Barrels: Norwegian Cruise Ships; Larry Flynt and PokerStars Championships Bahamas

3-barrels of exceptional live tournament value including a round-up of the most recent action on a Norwegian Cruise Ship; Larry Flynt is busting out $800,000 in guarantees at the Hustler, and PokerStars prepare for the birth of their new Bahamian baby.

The shipping line company, Norwegian Cruise Line, are showing that the recruitment of a few famous faces helps when promoting your annual poker game.

Joe Cada, the youngest World Series of Poker (WSOP) Main Event Champion, joined the cruise ship company as a poker tour ambassador when he left PokerStars in 2014, and since then the field has grown from 186 entrants to 215 (2015) and 337 earlier this month.

The third iteration of the Norwegian Poker Challenge once again took place on their 1,081 feet long monster: Epic, with the spacious Bliss Lounge hosting 20-tables and luminaries such as former WSOP Main Event Champ, Ryan Riess, and double WSOP bracelet winner, Loni Harwood.

3: Barrels: Norwegian Cruise Ships; Larry Flynt and PokerStars Championships Bahamas

3-barrels of exceptional live tournament value including a round-up of the most recent action on a Norwegian Cruise Ship; Larry Flynt is busting out $800,000 in guarantees at the Hustler, and PokerStars prepare for the birth of their new Bahamian baby.

The shipping line company, Norwegian Cruise Line, are showing that the recruitment of a few famous faces helps when promoting your annual poker game.

Joe Cada, the youngest World Series of Poker (WSOP) Main Event Champion, joined the cruise ship company as a poker tour ambassador when he left PokerStars in 2014, and since then the field has grown from 186 entrants to 215 (2015) and 337 earlier this month.

The third iteration of the Norwegian Poker Challenge once again took place on their 1,081 feet long monster: Epic, with the spacious Bliss Lounge hosting 20-tables and luminaries such as former WSOP Main Event Champ, Ryan Riess, and double WSOP bracelet winner, Loni Harwood.

3: Barrels: Norwegian Cruise Ships; Larry Flynt and PokerStars Championships Bahamas

3-barrels of exceptional live tournament value including a round-up of the most recent action on a Norwegian Cruise Ship; Larry Flynt is busting out $800,000 in guarantees at the Hustler, and PokerStars prepare for the birth of their new Bahamian baby.

The shipping line company, Norwegian Cruise Line, are showing that the recruitment of a few famous faces helps when promoting your annual poker game.

Joe Cada, the youngest World Series of Poker (WSOP) Main Event Champion, joined the cruise ship company as a poker tour ambassador when he left PokerStars in 2014, and since then the field has grown from 186 entrants to 215 (2015) and 337 earlier this month.

The third iteration of the Norwegian Poker Challenge once again took place on their 1,081 feet long monster: Epic, with the spacious Bliss Lounge hosting 20-tables and luminaries such as former WSOP Main Event Champ, Ryan Riess, and double WSOP bracelet winner, Loni Harwood.

Okada Manila kicks off casino operations on Dec 30

Newly-opened Philippine integrated resort Okada Manila planning to close the year with the official launch of its casino operations on December 30.

The announcement comes after the $2.4-billion casino resort secured a notice to commence casino operations from state gambling regulator, the Philippine Amusement and Gaming Corporation (PAGCOR), last December 21.

Under the terms of the deal with PAGCOR, Okada Manila’s casino operations will start under a provisional license. A permanent license is expected to be granted at a later stage.

Okada Manila, developed by Philippines-based Tiger Resort, Leisure and Entertainment Inc., opened its doors to the public last December 21—an event referred to by the venue’s promoter as a “preview period.” The official opening for the resort, which sits on a 44-hectare property, will take place at the end of February 2017, Tiger Resorts said in a statement.

IRS refuses to yield in Coinbase case, fires back at bitcoin customer

No dice for you Coinbase customer.

That was the firm answer given by the U.S. Internal Revenue Service (IRS) in connection with the motion filed by a bitcoin user who sought to block the tax agency from issuing a “John Doe” summons on the bitcoin wallet service, Forbes reported.

Several weeks ago, Los Angeles-based lawyer Jeffrey Berns went to court to dispute the legitimacy of IRS effort to obtain the identity and full transaction history of Coinbase customers who bought virtual currency from the company between 2013 and 2015.

Berns, a customer of the bitcoin wallet service, wants the court to either quash its previous approval or put in place a protective order to stop the IRS in its tracks. In his filing, Berns argued that the John Doe summons “would constitute an abuse of process,” describing the tax agency’s request to obtain the user records as “overboard.”

Top ten Holland in 2016

This is a guest contribution by Willem van Oort is the founder of Gaming in Holland. If you would like to submit a contribution please contact Bill Beatty for submission details. Thank you. 

2016 is looking to go down in the history books as a pivotal year for gaming in the Netherlands.

Among this year’s highlights are the adoption of the remote gaming bill by the Lower House, the first granting of a charity lottery license to a new market entrant in nearly thirty years, and the proposal of legislation to privatize state-owned Holland Casino.

Please join us in remembering 2016 through our ten most-read articles of the year!

Top ten Holland in 2016

This is a guest contribution by Willem van Oort is the founder of Gaming in Holland. If you would like to submit a contribution please contact Bill Beatty for submission details. Thank you. 

2016 is looking to go down in the history books as a pivotal year for gaming in the Netherlands.

Among this year’s highlights are the adoption of the remote gaming bill by the Lower House, the first granting of a charity lottery license to a new market entrant in nearly thirty years, and the proposal of legislation to privatize state-owned Holland Casino.

Please join us in remembering 2016 through our ten most-read articles of the year!

D&B Publishing to launch Qui Nguyen autobiography in time for 2017 November nine

D&B Publishing will publish an autobiography of the World Series of Poker Main Event Champion, Qui Nguyen, in time for the 2017 November Nine.

Daniel Negreanu called him ‘the closest thing we have had to Chris Moneymaker,’ and D&B Publishing has got the scoop.

The World Series of Poker (WSOP) Main Event champion, Qui Nguyen, has agreed to tell his story, and the D&B Publishing team will help him do that. Titled from Vietnam to Vegas! How I won the World Series of Poker Main Event, Nguyen will tell his life story as well as dissecting over 100 key hands from the final table. Steve Blay will co-author.

The WSOP Main Event needed Nguyen after the disaster of the year before. His high-octane style a stark contrast to the slow and laborious bore fest that put most of us to sleep as Joe McKeehen took a stroll in the park.

Vegas casino staff fear rising tide of bad-tipping Chinese tourists

The rising tide of Chinese visitors to Las Vegas isn’t sitting well with frontline casino staff who rely on tips to supplement their meagre salaries.

Earlier this month, China’s Hainan Airlines began the first direct flights between Vegas and Beijing, following the US Department of Transportation signing off on the plan in September. China accounted for 16% of Vegas visitors in 2015 but Vegas is keen to boost this figure, given that Chinese tourists are notoriously big spenders.

That is, unless you’re talking about spending on tips for hotel, restaurant and casino staff. According to a 2016 Mastercard survey, China ranks fourth among Asia-Pacific countries that don’t get the whole tipping thing. Travel research site Wanderbat.com said Chinese tourists typically only tip around 5%, and only in cases where the service is exceptional.

Several Vegas casino staffers offered horror stories to the Las Vegas Review-Journal, with one waiter noting that she’d been tipped a dollar per person on a $200 check, and since the servers are obligated to kick back to the other service staff, she ended up paying her co-workers out of her own pocket.

Singaporeans bombarded with online gambling SMS promos

Residents of Singapore are being bombarded with unsolicited gambling advertisements appearing on their smartphones, according to new statistics from the local privacy watchdog.

This week, Singapore’s Personal Data Protection Commission announced that it had received 8,800 public complaints about unsolicited text message spam promoting ‘easy’ financial loans or unauthorized online gambling services in the period covering January to September 2016.

While the number of complaints is down 18% from the same period in 2015, the loan and gambling come-ons nonetheless represented 80% of all complaints submitted to the Commission. The watchdog group noted that the actual number of such promotions is likely much larger, but many Singaporeans simply don’t bother to file a complaint, in part because many of the gambling services are located outside Singapore and thus fall outside the authorities’ jurisdiction.

Singapore began actively blocking international online gambling sites in February 2015 following passage of the Remote Gambling Act in October 2014. It wasn’t until October of this year that the city-state formally authorized local sports lottery provider Singapore Pools to launch a legally permissible online wagering site. The Singapore Turf Club launched its iTote pari-mutuel wagering site shortly thereafter.

Brazil gambling vote may not happen until April

Brazil’s long-delayed gambling legislation likely won’t come up for a vote until the spring after legislators decided they had more pressing issues on their plates.

Brazilian legislators had hoped to schedule a vote on their two competing gambling bills – the Senate’s 186/2014 and the Chamber of Deputies’ 442/1991 – in early December but both bills were bumped due to other priorities, including dealing with the fallout from a Supreme Court injunction removing Senate President Renan Calheiros from office after he was indicted for embezzlement.

On Tuesday, Senator Fernando Bezerra Coelho appeared on Radio Jornal de Pernambuco’s Super Morning program, at which he confirmed that the 186/2014 bill had been referred to the Committee on Constitution, Justice and Citizenship (CCJ) during the legislature’s final deliberative week earlier this month.

Coelho, a key backer of Brazil’s efforts to liberalize its gambling market, offered hope that the CCJ would be prompt in analyzing the bill “so that it can finally be deliberated by the Plenary.” But Coelho suggested it might take until “March, April, we can gather support necessary for the activity of gambling to be legalized in Brazil.”

Crystal balls: Calvin Ayre’s predictions for 2017

Before I get into my look ahead at 2017, let’s look back at my 2016 predictions made here on this site one year ago. On the whole, I did okay, predicting a tough slog for daily fantasy sports, more consolidation in UK/Europe and that PokerStars’ New Jersey launch wouldn’t dramatically improve the state’s online poker market. Oh, and I also predicted that James Packer and Marian Carey would go splitsville, but in hindsight, that was basically a gimme.

On the flip side, I erred when I predicted Pennsylvania would join the US intrastate online gambling ranks in 2016, even if one-half of the state’s legislative bodies did vote thumbs up on the plan. I also goofed by putting faith in Australian politicians’ ability to recognize reality and approve, rather than outright ban, online in-play sports betting. Live and learn.

BITCOIN EATS EVERYTHING

The single biggest development in 2017 is already here and growing in importance with each passing day. Bitcoin officially ‘arrived’ in 2016 thanks to adoption by some farsighted mainstream operators and even the UK Gambling Commission accepted that the ground was shifting under their regulatory feet.

The founder of Bitcoin Foundation and Forbes columnist will visit Blockchain Conference in Tallinn

In March of the coming year blockchain developers and entrepreneurs will get together at Blockchain & Bitcoin Conference Tallinn to listen to the founding director of Bitcoin Foundation, fintech columnist with Forbes Magazine Jon Matonis.

The independent cryptocurrency and blockchain analyst whose career has included influential posts at VISA International and fintech companies will speak about prospects of blockchain consortiums.

He will focus on open blockchain with its advantages over private systems. Reliability, security and flexibility are real advantages of blockchain with open access. Jon Matonis believes that developers of private blockchain should coordinate in order to benefit the market.

He will present ideas of his articles for Forbes, American Banker and CoinDesk.