The Delaware land-based casino sector has been struck hard by increased competition from new markets in neighboring states, as the more recent and shinier casinos of Pennsylvania and Maryland outperform its three struggling, and highly taxed, racinos.
Dover Downs is Delaware's biggest and only publicly traded racino, but high taxes that are domestic increased competition over the state line means crisis for the property while the state's two other racinos.
The sector, which comprises Harrington Raceway, Dover Downs, and Delaware Park, peaked in 2006, the 12 months Pennsylvania began issuing its first casino licenses, when slot revenues hit more than $650 million. By 2016, slots and table revenues combined had plunged to $398 million.
Meanwhile, outfall from the brand new MGM nationwide Harbor, which started in Maryland year that is late last stands poised to be the final nail in the coffin. That property caused other casinos in Maryland and West Virginia to ramp up their own advertising drives, drawing even more customers away from Delaware's ailing properties.
The three racinos cannot compete because they pay higher state taxes than their counterparts across the border, and they're begging legislators for help.
- 1 Impossible Odds? Wagering Sites Offer Lines on Political, Celebrity Absurdity
- 2 Macau Police Bust Scam 'Pop Up' VIP Casino Op
- 3 New Jersey's Chris Christie Urges President Donald Trump and Congress to Support States' Rights in Online Gaming Battle
- 4 Scott Blumstein Wins $8.15M at World Series of Poker Main Event with Three-Outer on River
Taxed From the Market
This week, the Delaware's Video Lottery Advisory Council (VLAC) met to discuss the status of Diamond State's three casinos. The council is tasked with advising federal government policy on gambling and could urge lawmakers to pass a casino relief measure.
Nevertheless the racinos will need to wait. VLAC will not publish its tips before the fall, and until then, it's maintaining tight-lipped.
Legislation that could have provided relief by creating marketing and capital credits, while quashing the table game fee and lowering the tax rate on dining table games, received shrift that is short the General Assembly in 2015 and 2016.
Begging for a Lifeline
While there is sympathy for the racinos' plight in the legislature, a sizable spending plan deficit has managed to get hard for a bill advocating tax relief to get much traction. Still, something has become done, says Ed Sutor, president and CEO of Dover Downs Hotel & Casino, as he urged VLAC to put the racinos a lifeline.
Sutor told the Delaware State Information that a simple concession that could be easily enacted would be to permit the racinos to operate on Christmas and Easter, which will generate an approximated $2.25 million more.
'We're the only casinos in the country that shut down completely on Easter and Christmas,' said Sutor. 'We can't surrender, people, and now we can't sit another year out of not doing anything.'
Impossible Odds? Wagering Sites Offer Lines on Political, Celebrity Absurdity
Political betting markets are doing their best to remain relevant since the highly engaging 2016 presidential campaign, by offering online bettors unique lines on activities that appear to have little possibility of occurring.
Lines on Kid Rock and The Rock's future in government are two areas to be had at political wagering sites. (Image: Terry Renna/Associated Press/WWE/Collage by Casino.org)
From Kid Rock's running for the United States Senate to talk for the Rock making a serious bid for the White home in 2020, political betting networks are attempting to maintain a connection between celebrity entertainment and influence that is political. It undoubtedly worked in 2016 with Donald Trump.
Betting on political results is illegal throughout the US (even in nevada), but American politics is a favorite wager that is exotic Europe and elsewhere on the planet.
PredictIt.org provides change betting, which is really a slightly different variant of wager that trades shares in real time on predicted outcomes of governmental events. (Exchanges charge a commission on trades in place of establishing odds.)
Kid Rock for Senate?
Musician and Trump that is avid supporter Rock has recently teased a bid to run for Michigan's US Senate seat in 2018 against incumbent Democrat Debbie Stabenow (D). However, betting cash is currently against Rock officially operating.
PredictIt shares of Kid Rock, aka Robert Ritchie, running are selling for 40 cents, while no, he won't run shares are at 60 cents. Carrying out a tweet in early July from rap star that revealed a yard sign reading 'Kid Rock for US Senate,' shares laying claim to the concept which he would indeed run soared to 70 cents.
Rock adopted the image with a statement of political philosophy that read, 'we believe if you work your butt off and pay fees, you should be able to easily navigate the laws, taxation codes, health care, and anything else the government puts in spot that affects us all.'
The 46-year-old singer from Michigan has never run for or held elected office, but that did not stop the present American president. Ritchie reportedly has yet to file campaign that is official, however, which undoubtedly factors into why the PredictIt line remains open.
President The Rock
Bettors, of course, need certainly to be cautious not to ever confuse Kid Rock with The Rock. PredictIt is asking whether star Dwayne Johnson will throw their name in to the ring for the presidency that is US 2020.
A campaign committee called 'Run the Rock 2020' recently did file documents with the Federal Election Committee, which appeared like a larger action in a serious way. The Rock, however, isn't really behind the company wanting to elect him. It's instead the ongoing work of a fan who just hopes he'll run.
Even though the seed's been planted, enthusiasm for a Rock presidency is rather low on PredictIt. Shares that Johnson will run are trading for 25 cents, while owning 'no' will cost you three quarters.
PredictIt's willingness to own market on Johnson despite his public declaration that he's not even considering a 2020 run recommend that celebrity lines with which has no possibility of striking are a popular income stream for the exchange.
ElectionBettingOdds.com, meanwhile, offers the actor a 3.5 per cent chance of actually winning the White House, similar odds it offers for Facebook founder Mark Zuckerberg, who will turn 35, the minimum age for allowed for A united states president by the Constitution, in 2019.
Just What Hath Paddy Power Wrought
Sites and markets such as for instance PredictIt may be seeing the value of offering opportunities for wagering on wishful thinking and fears that are irrational but really these are typically just after in the footsteps of Paddy Power.
The Irish that is infamous bookmaker the typical for allowing people to bet the unthinkable, at onetime asking customers whether or not then-President Barack Obama would be assassinated.
Paddy Power's current odds regarding the champion of the 2020 election feature Trump as the(2-1 that is favorite, followed by Democratic Massachusetts Sen. Elizabeth Warren and current Vice President Mike Pence at 15-2.
But a slew of ridiculous names are included on the odds sheet. Leonardo DiCaprio (80-1), Kanye western (100-1), Beyoncé (200-1), fictional House of Cards president Kevin Spacey (200-1), and Kim Kardashian (275-1) are just a few of the picks designed for those who think they could see something in an longshot that is extreme.
Macau Police Bust Scam 'Pop Up' VIP Casino Op
Director of Judiciary Police Chau Wai Kuong said that gaming related crime in the gambling hub stayed 'serious' despite the apparent recovery that is economic. (Image: Macau Frequent Times)
Macau authorities have busted a bogus 'pop-up' VIP casino racket that bilked high-rollers out of millions in allegedly baccarat that is crooked, based on the South China Morning Post.
The police research began in June after a man told authorities he had been defrauded of HK$4 million (around $500,000).
Officers through the Judiciary Police raided an unidentified hotel in the gambling hub on Wednesday, arresting 15 men and four women, all from the Chinese mainland.
These are typically accused of luring high-rollers to hotel rooms that your gang had gone to elaborate lengths to disguise as bona fide VIP rooms.
Ruse Meticulously Planned
Police said the ruse, 1xbet Ð·ÐµÑ€ÐºÐ°Ð»Ð¾ Ñ€Ð°Ð±Ð¾Ñ‚Ð°ÐµÑ‚ Ð²ÑÐµÐ³Ð´Ð° which have been in operation since 2015, was intricately prepared and executed, with members of the gang posing as dealers, VIP hosts, VIP room operators, protection guards and shill gamblers to be able to trick their prey.
Four 'customers' were based in the process of being scammed whenever authorities swooped on Wednesday, according to Macau's public broadcaster, TDM.
More than HK$75 million ($9.6 million) worth of gaming chips were available at the scene. While reports would not specify, it's likely these had been 'rolling chips,' non-redeemable tokens issued to high rollers by casino as credit to gamble with, as opposed to the type of chips that may be exchanged directly for cash. HK$200,000 in difficult money had been also seized, around US$25,600.
The suspects, aged between 35 and 53, are facing numerous charges, ranging from fraud to owning a criminal syndicate.
Last week, 15 mainlanders were detained and accused of owning a high-interest loan-sharking ring targeting casino gamblers in the Cotai Strip.
Taking Crime Seriously
Gaming-related crime has risen in the enclave since Beijing's anti-corruption drive almost 3 years ago. The crackdown on the junket industry has place the squeeze in the gambling hub's criminal underbelly, with reports of a sharp boost in triad-related criminal activity.
Police have stated that the true quantity of illegal detentions, which mainly involve the forced collection of gaming debts by loan-sharking triads, are up 11.8 percent year-on-year, after having almost doubled between 2014 and 2015.
'Although the performance of Macau's gaming industry has stabilized since the 2nd 50 % of final year, the crime that is gaming-related remains serious,'director of Judiciary Police Chau Wai Kuong said this week in a statement.
'We have witnessed an upsurge in the number of cases of unlawful detention related to operations that are loan-sharking' he included. 'As such, police have strengthened patrols, having detected 20 situations of gaming-related unlawful detention in an individual day.'
Macau's Judiciary Police recorded a total of 734 suspected gaming-related crimes in the first five months of this 12 months, up by 74 instances weighed against the corresponding amount of 2016.
New Jersey's Chris Christie Urges President Donald Trump and Congress to Support States' Rights in Online Gaming Battle
New Jersey Governor Chris Christie (R) put his signature on a bill late the other day that urges President Donald Trump, members of his administration, and Congress to oppose any legislation that will prohibit individual states from authorizing and regulating online gambling.
Nj-new jersey State Representative Vincent Mazzeo has authored a bill that asks federal leaders to rebel against any measures that will impede states' right in the gambling that is online, and it's really gained the support of Governor Chris Christie. (Image: Jackie Schear/Press of Atlantic City)
Introduced by State Rep. Vincent Mazzeo (D-Northfield) in January, the joint resolution seeks to notify the president and Congress on how internet casinos are playing a vital role into the recovery of Atlantic City. Of program, it's an opinion just and one that carries no given fat, as state governments don't have any direct input into federal laws.
The main issue is yet again the Restoration of America's Wire Act (RAWA), legislation that would reverse a 2011 US Department of Justice opinion that stated the longstanding Wire Act applied just to sports betting, and not other kinds of gambling.
Mazzeo's quality explains, 'Recent federal measures, such as [RAWA], introduced in the 114th Congress, if pursued by the 115th Congress and supported by President Trump and his management, would prohibit the transmission of wire communication of any bet or bet … including internet gaming.'
A copy associated with the finalized legislation is being sent to the president, United States House and Senate leaders, Attorney General Jeff Sessions, and different other political powers in Washington, DC.
Internet Gaming Wins
Garden State politicians have plenty of reason to aid Mazzeo's bill. Atlantic City's remaining seven casino operators are finally posting gains, and online gambling is playing a leading part in the recovery that is fiscal.
Through June, land-based gaming win is up 1.5 percent. However, internet gambling has soared over 28 %, bringing the casinos' bottom line to 3.5 percent.
Online gambling has delivered $121.4 million to operators through June, about $26.6 million ahead of where they were this time last year.
'A federal prohibition against internet gaming would directly and negatively impact brand New Jersey by dismantling the investments that hawaii and Atlantic City casinos have currently made,' Mazzeo explained.
iGaming's prominent part in revitalizing Atlantic City is why Mazzeo had little trouble in garnering support for the joint resolution. Just a single 'nay' vote came in from either chamber, State Senator Shirley Turner (D-Mercer) being the opponent that is lone.
There doesn't appear to be much enthusiasm in Washington to take up RAWA, or similar anti-online gambling legislation. Previous committee hearings inside your home and Senate didn't change the undeniable fact that most in Congress just are not terribly spent in discussing gaming that is internet at the federal degree, a matter that the Republican-controlled Congress would seemingly prefer to leave up to each state to decide for themselves.
RAWA ended up being introduced into their respective chambers by Sen. Lindsey Graham (R-South Carolina) and previous Rep. Jason Chaffetz (R-Utah). It's largely thought that those actions arrived during the behest of Las Vegas Sands CEO Sheldon Adelson, A gop that is powerful financier has made it his life's work to block iGaming.
After lingering for just two years, RAWA has not been re-introduced to Congress for its 115th session.
Scott Blumstein Wins $8.15M at World Series of Poker Main Event with Three-Outer on River
Scott Blumstein, a 25-year-old medium stakes poker pro from nj, decided to play his World Series that is first of tournament a few months ago, the 2017 Main Event. It switched out to be always a pretty good decision, as late into Saturday night, Blumstein survived an initial field of over 7,200 entrants to take home $8.15 million along with a jewel-encrusted champion's bracelet worth another half-million.
WSOP 2017 Main Event winner Scott Blumstein, now in a higher tax bracket he entered the World Series of Poker's most prestigious tournament two weeks ago, says fame and fortune will not change who he is than he was when. (Image: ABCNews.com)
It was not long after midnight Pacific Time on Sunday morning, readily available 256 of the WSOP Main Event final table, Blumstein defeated Pennsylvanian Dan Ott to become poker's "" new world "" champion.
'I'm still in shock,' Blumstein told reporters afterwards. ' I thought I would get even more emotional that what I got in real time but it is just the most useful feeling, I can't also put it into terms.'
First Time's the Charm
Despite earning money as an online grinder back home in nj-new jersey, it was the very first time Blumstein had ever ventured to the Rio in vegas to play live in some sort of Series event.
Utilizing the November Nine concept scrapped in favor of three consecutive portions of final-table play, broadcast with a 30-minute delay by ESPN on Thursday, Friday, and Saturday, Blumstein started the brand new format final table with a chip lead that is commanding. It was a lead he relinquished just once over the program of the match, whenever jovial crowd favorite and British granddad John Hesp briefly wrestled top spot through the chip-stacking juggernaut.
Hesp busted out in fourth, setting up a night that is final of action between Americans Blumstein and Ott, and France's Benjamin Pollack.
Two Plus Two Equals $8.15 Million
The Pollack that is short-stacked had to get and was willing to obtain his chips in and gamble. Ultimately, however, he hit the rail right after 9 o'clock PT, after some intense action that is three-way.
Pollack shoved from the button with Q-T, while Ott lived as much as his title, coming over the very best (OTT in poker parlance), re-raising all-in from the small blind with K-9. Blumstein saw potential to go on it all down right there, and called from he big blind with A-Q. Blumstein was ahead pre-flop, as well as the entire tournament could have ended then and there. Alternatively, a master on the flop Ott that is tripled-up and Pollack to the rails.
The ultimate moment was postponed for another 60-odd hands, and when it came, it came via a slice of luck for Blumstein, who played sturdily throughout the 10-day occasion. With all the chips going in pre-flop, Ott was ahead with A-9 versus Blumstein's A-2, but one of three remaining deuces hit regarding the river, ending the Main Event and assuring Blumstein an area in poker history.
The new champ states that, whilst the money is nice, it will not change his lifestyle all that much. The Temple University graduate, who holds an accounting degree, told WSOP officials after his win:
'just two weeks ago I was a New Jersey online nothing and grinder has really changed.