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Ohio bans Internet cafes
Ohio bans those dangerous dens of iniquity, Internet cafes | Ars Technica: " . . . "Internet cafes operate by selling Internet time or phone cards and in return offer free chances to win cash on computer games that often resemble slot machines," the newspaper explains. The cafes in Ohio mostly draw an older crowd, according to cafe owners. The cafes tried to get around casino regulations by saying they offered legal online "sweepstakes." Ohio courts have split on the issue of whether the cafes are offering legal sweepstakes games, or illegal gambling. There are only four legal casinos in Ohio, a state which authorized Las Vegas-style gambling just one year ago. . . ."
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Ultimate Poker legal online betting foray
Ultimate Poker's legal online betting foray could be a game changer in the U.S. - Yahoo! Sports: ". . . if New Jersey wins a current lawsuit against the United States over the right to offer full-scale sports wagering, then that could blow it all open too, allowing players to legally bet via their smart phone from inside stadiums. You don’t have to live in Nevada or have any interest in playing online poker or even support any of this to acknowledge that this latest development feels like the start of something significant, the first days of a bold new future. “It’s been this crazy roller coaster,” Breitling said. “What we’ve already seen just with poker is that if people know the environment they are gambling in is safe and secure, they get more excited about doing it.” No more offshore companies pulling money out of the country? No more organized crime using sports bets to fund narcotics and human trafficking and who knows what else? This may have been just the start, but it’s a start toward progress. Jobs and taxes and a brand new day in America’s confusing relationship with gambling."
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PokerStars Online Gambling Bet on Return to US
PokerStars, Online Gambling Bet on Return to U.S. - WSJ.com: ". . . Along with Nevada, which approved online poker, and New Jersey and Delaware, where other casino gambling passed as well, four states have pending legislation. Despite objections from several camps about allowing more gambling into the home, most gambling officials and analysts say they believe the high-tech transition will only grow. . . About a dozen countries, including France, Spain and Italy, and many offshore jurisdictions, have set up systems for licensing online gambling. But most have not and some openly oppose Internet casinos. . . PokerStars, like other online firms, continues to draw Russian customers from other sites. Indeed, the company says the country is one of its largest markets, with 34,000 Russians enrolling in its annual Turbo championship this year. "We follow legal advice that offering our services doesn't violate Russian law," the company said. . . . The PokerStars conundrum only ups the ante, he says. "This whole question is, in effect, are we going to grant general amnesty," said Mr. Rose. "The trend is to forgive and forget.""
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Zynga gambles IPO cash will last until real-money gaming is legalized
Biz Break: Zynga layoffs may be gamble that IPO cash will last until real-money gaming is legalized - SiliconValley.com: "The San Francisco company is seen as the most ready of Silicon Valley companies to jump into the market for real-money gaming, which is beginning to gear up with bills in Nevada and New Jersey. Zynga applied for a license in Nevada at the end of last year and has begun operating gambling games in the United Kingdom, where such practices are legal. The need for gambling as a cure for Zynga's financial ills was already a topic of conversation when its last quarterly earnings disappointed analysts, with Sterne Agee & Leach analyst Arvind Bhatia telling Reuters then that "We continue to think that any hope for real growth for this nebulous company really depends on what it can do in real-money gaming." That theme continued Monday, when Macquarie Securities analyst Ben Schachter wrote in a note that "beyond some residual value of current franchises, much of Zynga's value is based on the potential for real-money gambling (which is still speculative and the timing uncertain)," along with hopes for big mobile breakthroughs."
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IRS hits Miccosukee Tribe with $170M bill
IRS hits Miccosukee Tribe with $170M bill - South Florida Business Journal: "The Internal Revenue Service has hit the Miccosukee Tribe with a $170 million bill for failing to withhold taxes from gambling profits given to members, according to The Miami Herald."
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Canadian Poker Network Launch
Gaming Legal News - Dickinson Wright - JDSupra: " . . . In Canada, SPIELO G2 launched the Canadian Poker Network, the first (and only) legal poker network in North America, which allows players from British Columbia, Québec, and Manitoba to play on the same poker network. Globally, some of SPIELO G2’s recent customers include Austrian Lotteries, Veikkaus in Finland, Svenska Spel in Sweden, and Norsk Tipping in Norway. The iGaming website will be located at the URL http://playolg.ca. According to a press release issued by OLG, lottery and casino gaming will be available initially, followed at a later date by bingo, sports wagering, online poker, and other new products. As noted by OLG President and CEO Rod Phillips, “moving into the Internet gaming market is an important milestone for the modernization of OLG. We are pleased to offer a safe, secure, regulated, and entertaining Internet gaming option in Ontario where profits will support those things that are important to the people of this province – health care and community infrastructure.”
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New normal for casinos is expansion
New normal for casinos is expansion
GamingTodaySlotsToday
Casino companies continue scouring the globe for opportunities to strike it rich in the gambling business. They've piled up those frequent flier miles zipping between Europe, various points in South America, Asia and just about everywhere in the U.S ...
GamingTodaySlotsToday
Casino companies continue scouring the globe for opportunities to strike it rich in the gambling business. They've piled up those frequent flier miles zipping between Europe, various points in South America, Asia and just about everywhere in the U.S ...
First Legal Nevada Online Poker Site
Nevada has become the first state where residents can legally play poker online for money--Station Casinos went live with UltimatePoker.com. Nevada legalized online poker in February and New Jersey and Delaware have legalized online gambling. At stake, billions of dollars in revenue for both companies and state governments.
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Zynga And Activist Hedge Fund
Can Zynga And Groupon Be Saved? An Activist Hedge Fund Seems To Think So - Forbes: "The social gaming company applied for a real money online gaming license in Nevada in late 2012 and has already signed a deal in the U.K. with Bwin. Total U.S. online gambling revenues stood at $4 billion last year according to UBS , compared with total gambling revenues of about $60 billion. Zynga faces an uphill battle, though, as not only will it have to deal with uncertain regulation, but also with intense competition. While Zynga is said to have had talks with Wynn, it remains unclear what operating costs and capital investments will be necessary for Pincus’ gaming company to thrive in online gaming."
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iGaming in the US
iGaming expansion promises to lead to a proliferation of gaming across the states. The question is not if, but rather how online gaming will be legalized in the United States (source infra)
Global Connection - May 2013: iGaming Update | Snell & Wilmer L.L.P. - JDSupra: "The Obama Administration's 20 September 2011 opinion, made public on 23 December 2011, has now created a similar uncertainty in the realm of online gaming. The Department of Justice reversed its long-held position regarding the Wire Act of 1962. In a new opinion, the Executive Branch concluded that the Wire Act applies only to sport-related gambling activities in interstate and foreign commerce. Many have now taken the view that virtually all federal barriers to internet gaming have been removed. The reach of the DOJ's new position, however, remains unclear. Regardless, in this brave new world without a clear federal roadblock, iGaming expansion in the United States will occur in one of two ways: (1) patchwork, state-by-state laws, or (2) a federal 'opt-in' framework."
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Global Connection - May 2013: iGaming Update | Snell & Wilmer L.L.P. - JDSupra: "The Obama Administration's 20 September 2011 opinion, made public on 23 December 2011, has now created a similar uncertainty in the realm of online gaming. The Department of Justice reversed its long-held position regarding the Wire Act of 1962. In a new opinion, the Executive Branch concluded that the Wire Act applies only to sport-related gambling activities in interstate and foreign commerce. Many have now taken the view that virtually all federal barriers to internet gaming have been removed. The reach of the DOJ's new position, however, remains unclear. Regardless, in this brave new world without a clear federal roadblock, iGaming expansion in the United States will occur in one of two ways: (1) patchwork, state-by-state laws, or (2) a federal 'opt-in' framework."
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Zephyrhills FL Wonders Who Won Powerball Jackpot
Small Fla. City Wonders Who Won Powerball Jackpot - ABC News: "Some lucky person walked into a Publix supermarket in suburban Florida over the past few days and bought a ticket now worth an estimated $590.5 million — the highest Powerball jackpot in history. But it wasn't Matthew Bogel. On Sunday, he loaded groceries into his car after shopping at the Publix. He shook his head when asked about the jackpot. "It's crazy, isn't it?" he said. "That's so much money." . . . The sole winner of the money hadn't come forward as of Sunday morning. . . ."
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Kentucky Derby favorite to win?
Pia Catton joins Lunch Break with a look at another notable race at the Kentucky Derby: the race for the most exclusive seats. She breaks down who sits where and why, and what they're paying.
If you're betting the odds-on favorite in the Kentucky Derby, chances are you're donating your money. Over the last 30 years, the betting favorite has won the Derby only five times. That said, those five have come in the past 14 years.
Kentucky Derby (2013) - Contenders, Probables and Results: "Date/Track: 5/4/2013, Churchill Downs Post Time: 6:24 PM ET Distance: 1 1/4 m (Dirt) Age/Sex: 3 M"
Orb, Verrazano the 1-2 favorites for Kentucky Derby: "Historically, horses drawing inside post positions have had better success winning the Kentucky Derby. However, the last two winners drew the 16th and 19th post, respectively. A look at this years draw and history of the winningest post positions here."
The Derby: It's About Where You Sit - WSJ.com: "For those who may wonder what sorts of seating arrangements (and pecking orders) have been established in the 138 years of this aggressively social event, here's a breakdown: Industry types settle into third-floor boxes at the finish line. Hot-shot corporate leaders plant their flags in fifth-floor suites. The celebrity headliners for Friday night's charity fundraisers can usually be seen on the fourth-floor Skye Terrace or the Turf Club."
Online Gaming Practice
The Department of Justice has ruled that the Wire Act does not cover online gaming activities unrelated to a sporting event or contest. Courts have ruled that states have a sovereign right to control the online gaming conducted by players within their borders. Legal issues facing the industry will play out largely at the state level. (source infra)
Jeff Ifrah: Luck and Pluck Building an Online Gaming Practice | On Legal Marketing: ". . . .“States are now looking at online gaming as a revenue source, especially the ones that already have regulatory structures for physical gaming operations,” Ifrah reports. He cites New Jersey as a state with recently enacted laws that will allow the state budget to benefit from significant tax benefits from iGaming activity. Ifrah helps his clients find lobbyists in these states who can make the case that opening markets can offset the decline in other state revenues. Despite the resistance of bricks and mortar casinos who fear losing players to online gaming, Ifrah expects markets to steadily expand to include iGaming because consumers want to participate in this entertainment virtually, just as they have moved to consuming books, movies and television through online sources. . . ." (read more at link)
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Jeff Ifrah: Luck and Pluck Building an Online Gaming Practice | On Legal Marketing: ". . . .“States are now looking at online gaming as a revenue source, especially the ones that already have regulatory structures for physical gaming operations,” Ifrah reports. He cites New Jersey as a state with recently enacted laws that will allow the state budget to benefit from significant tax benefits from iGaming activity. Ifrah helps his clients find lobbyists in these states who can make the case that opening markets can offset the decline in other state revenues. Despite the resistance of bricks and mortar casinos who fear losing players to online gaming, Ifrah expects markets to steadily expand to include iGaming because consumers want to participate in this entertainment virtually, just as they have moved to consuming books, movies and television through online sources. . . ." (read more at link)
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Ex-Wife Threatens Steve Wynn’s Empire
An Ex-Wife Threatens Steve Wynn’s Casino Empire - Businessweek: "Shareholders have a lot riding on the suit: They’ve enjoyed an eightfold gain since 2009 under Wynn’s leadership. The company, whose flagship casino is the most profitable on the Las Vegas Strip, has said it would face a serious business risk if Wynn, 71, left or even got distracted. “If we lose the services of Mr. Wynn, or if he is unable to devote sufficient attention to our operations for any other reason, our business may be significantly impaired,” the latest annual report said." (read more at link above)
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