Fast Track Licensing for brand New Jersey Online Casino Operators

Fast Track Licensing for brand New Jersey Online Casino Operators

It’s ready, set, go after the major players in New Jersey’s on-line casino game; major provisional licensing has now been granted (Image source:

It is T-minus-two-weeks and counting for brand New Jersey’s big casino that is online, and time to get the show on the way, as they do say. With that in mind, more of the key online gaming operators have already been granted their Internet licensing, without which nothing moves forward.

Subject to Further Approval

Noting that they are ‘transactional waivers’ meaning these companies could yet be subjected to more regulatory nosing around New Jersey’s gaming commissioners granted licensing to PartyPoker’s parent business, Bwin.Party Digital Entertainment, the company formed in 2011 whenever Bwin then the sports betting firm merged with the major on line poker site PartyPoker to form the entity that is new. The new Bwin is the world’s biggest publicly traded on the web gambling company.

Ahead of 2006, when Congress introduced the Internet that is unlawful Gambling Act (UIGEA), PartyPoker was the #1 online cash game poker web site in the United States, a position it held onto for a long time. The business complied with the strengthened online laws when they had been initiated, but was nonetheless later penalized having a $105 million ‘fine’ in an agreement that is non-prosecutorial the U.S. Department of Justice, while admitting to violating pre-existing wire fraud statutes that were on the books since 1961.

Along with Bwin, competitor 888 Holdings was also awarded the conditional licensing. 888 will be working whilst the online presence for Caesars Entertainment Corp.’s Interactive division, along side Amaya Gaming, which was additionally given licensing. Also provided the licensing were Ultimate Poker (which is already online in Nevada) and Betfair; all these businesses will now find a way to participate in hawaii’s Nov. 21 soft launch trial just before the prepared Nov. 26 official launch date for the public.

‘Bad Actor’ Kicked Off Stage

Not on the approval list, needless to say, was PokerStars, whose ‘bad star’ status precluded its inclusion; for the time being, anyway. This latest decision although it could eventually be turned around de facto keeps PokerStars from the legal American market as of this time; the business cannot be licensed for online poker in Nevada for at least the next five years.

Undeterred, Eric Hollreiser, a PokerStars spokesman, claimed his organization’s application ‘remains under review’ and that ‘we remain committed to working with them to complete the process.’

Meanwhile, the gambling industry’s primary lobbying group, the American Gaming Association, touted the New Jersey online that is impending launch.

‘We’re excited to see the launch of Web gaming in nj-new jersey,’ said American Gaming Association chief executive Geoff Freeman. ‘New Jersey will be sending a strong message to all states.’

Hopefully, that message will be that legal online gambling is a big moneymaker for states’ coffers; thus far in Nevada, the legal and regulated online poker launch has been tepid, to express the least.

The AGA says on the site that millions of Americans now use thousands of gambling sites that are headquartered offshore; in fact, the lobbying group claims it is as many as 1,700 offshore web sites that accept bets from American players, and says that market constitutes a $4 to $6 billion payday. Freeman says this represents about 1/10th of the worldwide online gaming market of some $33 billion.

Nj-new jersey will end up being the 3rd U.S. state with online legal gaming; Nevada was first with poker only, and Delaware snuck quietly online on October 31 with a fuller array of casino game offerings. Both those states have reasonably little resident populations with Nevada at under 3 million and Delaware at under 1 million so analysts are excited to see what brand New Jersey’s 9 million in residents (plus possibly millions more in weekend visitors) will bring, revenue-wise, to the table.

Possible bills are also being considered in California, Pennsylvania and Massachusetts, though all those states have experienced major issues with infighting of gambling factions and slow and tiresome regulatory problems for even land casinos at this time.

Sportsbook William Hill Pegs Hillary Clinton 2-1 Fave for Next Prez

Bookmaker William Hill likes Hillary Clinton due to the fact odds-on favorite to win the 2016 U.S. presidential elections

You can bet on lots more than football or golf at a recreations book; most bets that are take all types of crazy odds, from who will win an Oscar to Lindsay Lohan’s chances of going to rehab. So why not place your wagers for the next American president?

Whom’s upcoming in Line to the White House Throne?

Yup, it might be three years off yet, but it’s not too early to place your cash on the candidate you would imagine is most probably to succeed Barack Obama’s second and thus last term. Famous bookmaker William Hill may well be more than happy to take your money, and they’ve even set the odds that are current help you decide if you would like go high-risk or out on a limb.

You have to bet large if you want to win large, of course. Take a Londoner whom’s already risked $2,400 for a 5-2 bet that previous Secretary of State Hillary Clinton will be taking within the White House in the 2016 elections; William Hill says that thus far, that’s their largest wager, but hey, with three years and who knows what kind of news tales yet to come, this race is still spacious.

As of now, William Hill has Ms. Clinton a 2-1 favorite, moving up from 5-2 early in the day.

‘This bet on Hillary Clinton, together with a run of support for [New Jersey Gov.] Chris Christie, reducing his odds from 20-1 to 10-1, seems to signal the presidential race coming under beginner’s orders as far as political punters are involved,’ William Hill spokesman Graham Sharpe said.

Odds Are In

If you want to know where the it’s likely that as associated with start of this week, here’s the recap:

Hillary Clinton (D), 2-1

Sen. Marco Rubio, (R-Fla.), 6-1

Former Florida Gov. Jeb Bush (R), 9-1

NJ Gov. Chris Christie (R), 10-1;

Ny Gov. Andrew Cuomo (D), 12-1;

Rep. Paul Ryan, (R-Wis.), 16-1.

So while the Democratic contenders may be fewer, their key & most candidate that is likely the pack. So far. But William Hill notes that at this time, they are actually tied at 10-11 for either one to win; the real long shot would be a possible independent, with a current 100-1 bet against if you tally all the odds of both parties.

Bookie competitor Ladbrokes also has Clinton favored, but at somewhat different odds of 9-4; their take on Christie is the same as William Hill’s: 10-1. Another recreations guide, Paddy Power, has Clinton at 15-8 and Christie at a slightly better 9-1 shot.

If you like to take super high-risk odds, how about either the always smooth-tempered Alec Baldwin or former ‘Desperate Housewife’ Eva Longoria, who are available at a surprisingly optimistic 300-1 each.

By the way, although William Hill has a presence that is healthy Nevada between sports books, mobile gambling apps and kiosks, do not attempt to place any of these bets with them here; it’s illegal for U.S. bookmakers to do this. Although Nevada’s Senate Judiciary Committee did attempt to push via a bill earlier this year that would have opened the entranceway for presidential election pari-mutuel wagering, that bill was tossed out by May.

Atlantic City’s Revel Casino Considering ‘Strategic Alternatives’

As Revel Casino in Atlantic City explores its next step, at least they may take comfort once you understand their execs won’t become in debtors’ prison. (Image source: Bettmann/CORBIS)

When most gamblers think of strategic alternatives, they’re considering whether to increase or phone during the poker dining table. But for the Revel Casino Hotel in Atlantic City, that term may actually signal that the current owners are deciding precisely how they want to fold their hand.

Based on numerous reports, the revel that is current (a group led by Chatham Asset Management) are pursuing those ‘strategic alternatives’ regarding the struggling casino. In the global world of the gaming industry, that phrase rarely means any such thing good, with common results being that a venue is being shopped around for sale or that the company is considering filing for Chapter 13 bankruptcy. That stated, the company has tried to make it clear that they haven’t made any company choices yet.

Long-Winded Statement

‘Revel has perhaps not made any choice to pursue any specific transaction that is strategic alternative, and there can be no assurance that the exploration of strategic alternatives will result in the consummation of any transaction,’ Revel said in a statement. ‘Revel does not want to comment further regarding its assessment of strategic alternatives until such time because the board has determined the outcome of the process or otherwise has deemed that disclosure is suitable.’

They need employed A white that is former house for that one.

While that statement may have been a long, long, long way of saying that the company defintely won’t be saying anything any moment soon, Revel hasn’t merely been sitting on its hands. The company also announced that they can be increasing their credit that is first-lien agreement essentially doubling their line of credit from $75 million to $150 million ( taking a web page from the Caesars Entertainment ‘How to Manage Your Out-of-Control Debt for Dummies’ best-seller, evidently). The original $75 million credit line has been increased to $100 million, while a principal amount of $50 million has been taken out with JPMorgan Chase.

These techniques come just months after Revel went through Chapter 11 bankruptcy court so that you can restructure their debt, which resulted in lenders taking more than an 80 per cent ownership stake in the business. That move allowed the cancellation of $1.2 billion in debt, which offered the casino brand new life.

Poorly Thought-Out Marketing

However the Revel didn’t emerge from that bankruptcy restructuring all that well, inspite of the most useful efforts of management. The casino received some bad press after they attempted to draw in customers with a ‘can’t lose’ slots advertising that promised gamblers their cash back if they lost on the machines. But players were disappointed to learn that they would not receive their losses back in cash or as credit they could make use of at any time; rather, they were permitted to get credit on future visits, several percents at a period, and only by coming on certain weeks after the advertising ended.

Still, promotions like that you could signal a shift in the Revel’s strategy. As soon as envisioned as a non-smoking luxury resort for high-end gamblers, you can find signs that the casino is willing to start up its client base to a broader selection of clients, including those on a spending plan and, of course, smokers. Only a day before their declaration on the potential use of strategic options, Revel had a much less prominent press launch that revealed their low-cost dining alternatives, including a $3.99 breakfast deal.

Thus far this Revel has come in at #8 in terms of gambling winnings of the 12 Atlantic City casinos, having taken in $116.3 million from gamblers through the first three quarters year. As of now, the company will not be playing New Jersey’s on line casino launch come 26, either; only they and Atlantic Club which has also filed for bankruptcy and is now up for auction will not be represented online among the city’s 12 land casinos november.