Category Archives: Slots

New York Federal Reserve $1 Billion Cyber Heist Thwarted by Spelling Error, While gambling enterprises Allegedly Helped Funnel $81 Million

New York Federal Reserve $1 Billion Cyber Heist Thwarted by Spelling Error, While gambling enterprises Allegedly Helped Funnel $81 Million It’s quite unimaginable some one could actually rob the latest York Federal Reserve as it is one of many most secure buildings in the planet, but cyber thieves had the ability to steal $81 million […]

Cantor Gaming CEO Under Possible Investigation by Feds

Cantor Gaming CEO Under Possible Investigation by Feds CEO Lee Amaitis (center) recently opened the Cantor Gaming Atlantis sports book; some say he is under federal scrutiny now Maybe Not a day goes by in the gaming universe without someone in a place of power somewhere being scrutinized by the feds anymore, this indicates. Now […]

Japanese Casino Legislation On Target; Organized Crime Gets Shut Out It’s been decades in the making, but Japan spurred on by the promise associated with the 2020 Tokyo Summer Olympic Games appears to be finally creating a push that is real legalizing land gaming into the area country. News reports from Reuters say a draft that is solid of gambling policy has been put together, and Japan’s Diet (parliament) may be reviewing before 12 months’s end for early 2014 passage, God willin’ and the crick don’t rise. Baby Steps Towards Legalization At Last Whether or not that occurs on schedule, however, it would take another two years for the legislators to drum up a more in-depth regulatory overview, which often would at long last open the road towards bonafide legal gambling enterprises to start being built. The goal, of course, being to have everything up and prepared to move with time for those all-important tourists to have the ability to drop some chunks of change once they come to Japan for those summer games. As we have been ad that is seeing of late, corruption, crime and gambling seem to often sleep in the same sleep together, and with an eye towards trying to stem that tide before the tsunami comes in, Japanese lawmakers are building some interesting safeguards in their casino regulations. Included in these are creating a gambling that is independent that would in change oversee the license application procedure, because well as making it mandatory for any licensees to have a decade’s worth minimum of their tax, banking and credit informative data on each of their top-level executives designed for review. And not just the actual execs, but all of the executives’ relatives will also be scrutinized, presumably so no-one can hide anything by putting it in a partner’s or sibling’s or son’s or daughter’s title. Oversight Group Will Be Cabinet-Level The regulatory body will probably be set as a de facto cabinet group, using the aim it not beholden to any particular Japanese ministry in its dealings for it being to make. That, in turn, is likely to minimize the likelihood for graft or coercion by some of the Japanese mob: the so-called ‘Yakuza’ organized crime syndicates who might try to obtain their arms into the casino cookie jar. In presenting the plan’s principles, legislators said the idea that is overall to make sure ‘the hurdles to enter the company must certanly be set high … With proper regulation and enforcement … there is absolutely no reason for gambling enterprises to become hotbeds of unlawful activity.’ Also in the start-up proposal that is regulatory requires limits become set on exactly how many casinos can be approved in the first stages, to make sure that laws will be enforced and the overall impact of these entities on the population at large are assessed. And while well-known choices of major centers that are metropolitan as Tokyo and Osaka will most likely be the very first locales for these new appropriate casinos, there are also provisions in the plans to make certain that some smaller towns and cities could also be taken into consideration for future projects. Purchasers and Sellers Dance the Dance with Atlantic City gambling enterprises Everybody wants a bit of Atlantic City’s casinos these days, it seems Ah, the Atlantic Club in Atlantic City: your ex that everybody wants to sleep with, but no body shall marry. This New Jersey land gaming joint keeps on finding new suitors, however, and now a brand new one has popped through to the horizon: a local attorney-slash-entrepreneur, George Miller, who’s created an investment group because of The Flynn Company CEO Kevin Flynn of Philadelphia. Apparently, this real estate duo are eyeing all kinds of East Coast casinos, with the goal of firming something up before New Year’s 2014 strikes midnight regarding the clock. Atlantic Club Just One Contender While Miller won’t come right away and state who is looking like are going to getting a diamond just yet, he did tell the Press of Atlantic City his team hasn’t eliminated the Atlantic Club as a contender, but that they were ‘looking all over the place’ for just the spot that is right make their deal. The situation is created a bit more interesting in that both Miller and Flynn hold extremely small stakes in A caesars-run pennsylvania property; albeit just a 0.25per cent stake each. Press of Atlantic City interviewer Donald Wittkowski suggests that this minor alliance could assist the duo, as Caesars has four casinos in Atlantic City and might be prepared to part with one. You might recall that Caesars’ international debt-load is sky-high, and some cash right now might be above welcomed as a few of their records are coming due in 2015. Rumors are that possibly Trump Plaza, Golden Nugget and Revel along side Caesars’ Showboat might all be getting glances that are sexy Miller and Flynn at this time. A great amount of Inventory Up for Grabs It looks like it is a sellers market these days, though; also in line to buy something in Atlantic City likely to then get constantly in place to get an interactive gaming license for AC’s imminent Internet launch are outfits like PokerStars, possibly Kentucky’s Churchill Downs horse racing operation, and even Philly’s SugarHouse casino owners are reported to be looking to expand into the Atlantic City market. British operators 2UP video Gaming is additionally reported to be enthusiastic about AC, backed evidently by an unnamed mogul that is asian. On the list of properties allowing it to be known they might be designed for the right cost are the now-infamous Atlantic Club, the Plaza (which killed a potential handle the western Coast’s Meruelo Group for $20 million when the casino’s main mortgage holder Carl Icahn stated ‘I do not think so’ to the low-ball offer), also the Golden Nugget and poor ol’ Revel, which just can’t appear to stand up, it’s therefore debt-heavy at the top. Needless to say, you could wonder why a town whose casinos are doing this generally speaking awful into the web profits division is being so eagerly courted by a lot of these days, and the answer that is obvious both the interactive gaming potential (you can’t obtain an online operator’s license without possessing a land casino) also as the seemingly vague potential for the legalization of sports betting in Atlantic City’s land gambling enterprises, which includes been shot down more times than an Iranian war air plane over the White House. Regardless, Miller claims their investment group is doing its due diligence about that market. Despite Atlantic City’s crappy profit ledgers the previous several years, he states he sees ‘a lot of good regarding the horizon.’ Caesars Entertainment Rearranges Deck Furniture for Debt Restructuring Caesars Entertainment is doing lots of restructuring, but does it assist their economically ship that is sinking? Can this number of Titanic debt be salvaged from dragging the ship to your bottom of the monetary ocean? That’s the question being asked as Caesars Entertainment Corp. put Planet Hollywood one of the kingpin Las Vegas Strip properties into a new company that is holding along with the Interactive Division and the still-being-built Horseshoe Casino Baltimore. The company has instructed its shareholders that they have only until Oct. 17th to get in for a stock fire sale to bring in $1.18 billion in much-needed cash infusions as well. And you thought your storage sales were busy. Shareholders Should Buy Stocks First The Securities and Exchange Commission (SEC) filing made by Caesars announces that shareholders will get first dibs on one share each of the new Caesars Acquisition Co. (CAC) for each and every share of this parent that is existing they own. This restructuring happens to be in the works since this Spring that is past was officially approved by the Nevada Gaming Control Board in July. The newly formed CAC will be a partial owner of the also newly created Caesars Growth Partners, and along with Caesars Entertainment (are you dizzy yet?), the new entity will own Planet Hollywood, the Baltimore under-construction property, and Caesars Interactive Entertainment, which, of course, spearheads the World Series of Poker (WSOP) real money online poker brand that just recently launched for Nevada Internet players under the restructuring. Now you might think the idea of all this fundraising is to pay the company down’s massive current debt, but apparently, they are studying the White House financials, because they do say the raised funds will go towards brand new casino tasks in the U.S., as well as more online development, along with 888 Holdings, to obtain a few on-line casino sites up and rolling in New Jersey whenever that state goes online on November 26. They must be in a pissing contest with Obama for the greatest achievable debt ceiling. Gambling’s Highest Debt Load Think we’re joking? Caesars has the dubious honor of holding the casino industry’s highest-ever debt that is long-term at $23.5 billion. In early 2014, they shall do a refi of about $5 billion of that, and got about $200 million towards that amount in a stock sale already. This debtload that is somewhat scaryn’t be seemingly deterring anybody from teaming up with the gaming behemoth though; Detroit-based Rock Gaming is in on a joint venture with Caesars to own and run the $400 million Horseshoe Baltimore once it’s completed and willing to start in 2015. And Suffolk Downs Racetrack in Boston went into partnership with all the ongoing company since well, as they make an effort to obtain $1 billion casino project accepted and built in Boston in Massachusetts’ Battle for the Casino Giants game. Looks even Caesars Deputy General Counsel Michael Cohen isn’t entirely sure about this restructuring gameplan, but. ‘Compared to our money structure, that is not a change that is big’ he told the Nevada Gaming Control Board about the organization’s spinoff concept when they signed off on the plan in July. ‘Caesars possesses complete lot of debt. We think it is workable, but others disagree.

Japanese Casino Legislation On Target; Organized Crime Gets Shut Out

Red Tape Could Stall Developer Who Wants to Build Casinos in Vietnam

Red Tape Could Stall Developer Who Wants to Build Casinos in Vietnam Building casinos that are new Vietnam is sold with all kinds of government roadblocks For some reason, in Asian and Russian countries, they like to zone off their casinos. Everything needs to be in a designated ‘economic zone,’ perhaps showing that many things […]