Posts Tagged ‘gambling’

The New Head of American Gaming Association and Internet Gambling

Monday, April 22nd, 2013

According to a report by the Associated Press, a 38-year-old former COO of the U.S. Travel Association will become the new head of the American Gaming Association (AGA) it was announced in Las Vegas last week.

The new head of the U.S. casino lobby is Geoff Freeman. He will replace the AGA’s only other president (since 1995), 73-year-old Frank Fahrenkopf, in July.

Freeman, according to the report, “will seek consensus on Internet gambling,” and will be faced with the major task of ” navigating the burgeoning online gambling industry,” states a report.

“Casinos no longer are just about gambling, and its lobbyists must also understand the travel and hospitality industries,” Freeman is quoted as saying.

“Gaming is really taking on a broader image, and that’s the image of entertainment. It includes restaurants, shows, hospitality and lodging, and gaming,” he added.

Freeman not only has connections to the travel industry, but to Washington as well, where he will remain based. He will however meet with casino executives around the country, according to the report.

“I’m going to be ears open to just about anything that anyone has to say,” he said.

Internet gaming has been a hot topic over the past year, especially in Atlantic City. Earlier this year the “Internet Gaming Bill” passed in the state of New Jersey. Many say it will help Atlantic City’s struggling casinos in terms of gaming revenue when it goes into effect.

Meanwhile, it’s been reported that Caesars Entertainment, which owns four casinos in Atlantic City, is planning to how to cash in on Internet wagering.

Over the past several months it’s been reported that the parent company of the popular online gaming site PokerStars is hoping to purchase the Atlantic Club Casino in Atlantic City.

Internet Gaming Coming to New Jersey

Tuesday, February 26th, 2013

ATLANTIC CITY, NEW JERSEY — On Tuesday, Feb. 26, the New Jersey Senate made history by voting 35-1 to allow Atlantic City casinos to legally offer Internet gambling to “consumers throughout the state” of New Jersey.

The vote concurs with N.J. Gov. Chris Christie’s recent recommendations for the legislation (A-2578/S-1565).

The bill’s prime sponsors Senators Raymond J. Lesniak, (D-Union), and Jim Whelan, (D-Atlantic), each issued the following statements today on the measure that now goes back to the Governor:

Senator Lesniak:

“Internet gaming is a significant accomplishment that will generate lasting economic benefits for the casinos, for Atlantic City and for the State of New Jersey. It will provide immediate benefits by extending a financial lifeline to the casinos that have been struggling with gaming losses in recent years, preventing some from closing their doors and allowing their workers to keep their jobs. It will be a boost for Atlantic City and for the state, generating new economic opportunities and new jobs for years to come.

“Online gaming can bring visitors back to Atlantic City and customers back to our casinos.  An analysis by Wells Fargo Securities determined that Internet gaming would attract more visitors to the casinos, create more jobs and generate up to $1.5 billion in new revenue. Another study by Econsult says that New Jersey casinos would win back customers lost to competition from other states and that a new pool of customers would be drawn to Atlantic City. This will help restore financial stability and drive future growth.

“By capitalizing on this opportunity we are giving Atlantic City casinos the opportunity to be the ‘Silicon Valley of internet gaming’ and we are positioning them to be the hub of future expansion into other states. We can build on this to make sure that New Jersey is a leader in the gaming industry, that we continue to grow and add jobs and, at the same time, generate funding for the important services for seniors and the disabled that are supported by Atlantic City gaming.”

Senator Whelan:

“The New Jersey gaming industry, a vital part of Atlantic City’s economy, has taken heavy hits over the past few years as neighboring states have increasingly competed in the market. An innovative approach to wagering is essential to ensure that New Jersey’s gaming industry continues to grow and thrive and to protect the thousands of New Jersey jobs tied to the industry.

“Online gaming could be a real shot in the arm for Atlantic City by bringing thousands of high-tech jobs into the region and billions of dollars in revenue. With today’s approval of the Governor’s recommendations we are one step closer to ensuring the long-term stability of Atlantic City and gaming throughout the state.”

New Jersey Senate President Steve Sweeney “praised the final passage today of S1565,” according to a relese to the media, which adds: “The bill, sponsored by Senators Raymond J. Lesniak (D-Union) and Jim Whelan (D-Atlantic), will help bring jobs and much needed revenue to the state and will play a crucial role in the revitalization of Atlantic City.”

Sweeney said: “I want to thank Senators Lesniak and Whelan for their tireless advocacy on Internet gaming.  Their work will ensure that New Jersey remains ahead of the curve on this issue.  It will also help bring jobs to a state that has seen decades’ high unemployment and stagnant economic growth.”

He added:  “New Jersey must maintain its excellent reputation as one of the most stringent regulators of gaming activities in the world. [In] light of what has occurred with Revel and the DGE’s blatant mishandling of that entire situation, it is my hope that the Attorney General’s office will keep a watchful eye over this process.  The people of New Jersey are counting on them to adequately oversee the implementation of this new law.”

Meanwhile, Gov. Christie released the following statement:

“I am pleased to say that today I signed New Jersey’s Internet Gaming Bill, opening the way for new opportunity to bolster our efforts to continue the revival of Atlantic City, its casinos and entertainment offerings. This was a critical decision, and one that I did not make lightly. But with the proper regulatory framework and safeguards that I insisted on including in the bill, I am confident that we are offering a responsible yet exciting option that will make Atlantic City more competitive while also bringing financial benefits to New Jersey as a whole. I want to thank the sponsors for working quickly to include my recommendations to improve the bill.”

RELATED: Christie Backing Off Internet Gambling?

WSJ: PokerStars Might Buy Atlantic Club

Monday, December 10th, 2012

atlanticclublogoSources from the Wall Street Journal say that PokerStars, the world’s biggest online poker site, might buy the Atlantic Club casino in Atlantic City from investment group Colony Capital.

According to a state revenue report, as of October, the Atlantic Club, which changed its name earlier this year, had taken in $109,682,021 for the year — a 12-percent decline.

Read more.

Sports Betting Getting Closer in New Jersey

Tuesday, October 16th, 2012

SportsBettingOn Monday, New Jersey officials said that licenses for sports betting could be issued by Jan. 9, 2013.

This follows a year of back and forth within the state on the issue, which some say could help boost and protect Atlantic City’s gaming empire.

New Jersey Gov. Chris Christie signed a bill in January 2012 to allow sports betting in Atlantic City casinos and New Jersey’s four horse tracks, even though there is a federal ban.

And there is still a lawsuit to contend with.

Check out article.

Poll: Keep Casinos in Atlantic City ONLY

Tuesday, September 25th, 2012

What happens in Atlantic City, should stay in Atlantic City, according to a new statewide poll.

A recently released Fairleigh Dickinson University PublicMind poll indicates that 56 percent of the New Jersey voters surveyed on the issue of whether or not casinos should be allowed to operate in the state outside of Atlantic City are opposed to casinos anywhere else but in Atlantic City.

Thirty-five percent say casinos should be added elsewhere in the state.

Read more.

Nearly $1 Million Total Bad-Beat Jackpot Hits

Tuesday, August 14th, 2012

As we reported in this space last week, Caesars Entertainment’s combined total Bad-Beat Jackpot of $787,320 became the biggest of its kind in Atlantic City history.

We use the past tense became, because Caesars Entertainment Atlantic City announced that on Monday, Aug. 13, its Total Bad Beat Jackpot of $787,320 hit in the Caesars poker room.

Narong Sae Whited of Shelton, Washington, cashed-in on $237,154 for his losing hand, while the winner of the hand and Atlantic City resident  Nick Angelakopoulos came away with $158,422.

Additionally, 409 other poker players received a payout of $958, simply for being at a Caesars Entertainment Atlantic City poker room during the time of the Total Bad Beat.

According to Caesars, payouts of the progressive Total Bad Beat Jackpot are as follows:
·         30% of the jackpot will be awarded to the Bad Beat hand (losing player);
·         20% of the jackpot will be awarded to the winner of the hand;
·         The remainder of the jackpot will be awarded equally divided as shares among all of the seated players on any Bad Beat jackpot eligible game at all four (4) linked properties. The players mentioned above will also get a share in addition to the prize listed. All winners will receive a minimum of $100.00.
The minimum losing Bad Beat Hand will start at four (4) kings and every other week, on Wednesday, the required hand will be lowered by one (1) four of a kind ranking hand until the required hand is four (4) deuces. When the jackpot is hit the required hand will revert back to four (4) kings and reset the next Wednesday. Example: if the jackpot is hit on a Monday the 4 kings would only be in effect for 2 days.

Borgata Bad Beat Hits Wednesday

Wednesday, February 16th, 2011

Even though our resident poker expert and blogger Mike Pritchard is off this week, it doesn’t mean that poker action in Atlantic City has come to a halt, awaiting his return.

For instance, this just in from the Borgata:

Borgata’s Bad Beat Jackpot hit this morning for $190,290.

Since its inception, Borgata’s Bad Beat Jackpot has hit 71 times, paying a total of $9,036,551 in Bad Beat winnings. Borgata’s Bad Beat Jackpot hits on average every 11 days, for an average amount of $127,275.

You can see additional details here.

Hard Rock Casino Coming To Atlantic City?

Friday, January 7th, 2011

FZ-200MAccording to reports, a Hard Rock Casino could be in the cards for Atlantic City now that NJ Gov. Chris Christie has signed legislation permitting 200-room ’boutique’ hotels, as Atlantic City Weekly reported yesterday, instead of the previous minimum of 500-rooms.

The Philly Inquirer reports in today’s paper:

“Hard Rock International is poised to move forward with its plan to build a smaller, $300 million casino hotel on the Boardwalk, thanks to the state’s new law requiring a minimum of 200 rooms instead of the current 500.

“Gov. Christie signed the measure into law Wednesday, the first step in his overhaul of the resort – and one, he said, that opens the door for developers to build casinos in the nation’s No. 2 gambling market, where investment has dried up.

“‘All the indications from Hard Rock, including conversations this week, is that they are poised to take advantage of the boutique-casino bill, and they look forward to moving on it and putting some people to work,’ said State Sen. James Whelan (D., Atlantic), prime sponsor of the bill.

“Curtis Bashaw, an investor in the Hard Rock project, said Thursday that ‘this could be the beginning of Atlantic City’s transformation.’”

Read related article: Christie Signs ‘Boutique’ Casino Bill

Santa Is on Radar, and the Final Webisode of the ‘Conversations & Storytelling’ Series Is Live

Friday, December 24th, 2010

According to NORAD, Santa is due to hit Istanbul, Turkey pretty soon.

Although the Atlantic City Weekly office is closed for the holiday weekend, we have also been told by NORAD that the final webisode in the 13-part Conversations & Storytelling Atlantic City history video series has finally been stuffed in the AC Weekly stocking and it’s ready for a-viewing. The topic this week is Gambling (Legal or Otherwise), and it follows five other topics discussed (in two parts each), including The Boardwalk, Entertainment & Nightlife, The African-American Experience and Nucky Johsnon.

To watch the final Webisode, click here.

To watch the first 12 webisodes in this video series, visit our Boardwalk Empire page here or click here.

Happy holidays.

Read Entire Governor’s Advisory Commission Report

Wednesday, July 21st, 2010

To read the full “Report of the Governor’s Advisory Commission on New Jersey Gaming, Sports and Entertainment: An Economic Recovery Plan for the State of New Jersey” click on the link at the top of this page.