
Racino Royale, Inc. ("RR") has confirmed that the Canadian Pari-Mutuel
Agency (CPMA) has granted the company's racing permit. This was the last
hurdle RR had to go over before racing could commence at Big Valley Raceway
in Craven, Saskatchewan this Sunday, July 23, 2006. Since early June, RR has
been working towards insuring that harness racing could commence in Craven
by the end of July in order to provide the region's horsemen with five
consecutive months of racing. Now, with the support of the Saskatchewan
Standardbred Horsemen's Association (SSHA), regulatory approval from both
the Saskatchewan Liquor and Gaming Authority and the CPMA, the Big Valley
Raceway site in Craven, Saskatchewan will once again feature harness racing.
RR announced last month that it had acquired the exclusive rights agreement
for a racino development opportunity in Regina, Saskatchewan, with the SSHA.
In short measure, the company has been steadily taking steps to secure a
foothold in the Saskatchewan racing industry with that goal in mind, however
this first step to revive racing in Craven is an indication of RR's overall
commitment to harness racing in the region. "We are very excited about
opening day this Sunday," said John G. Simmonds, CEO of RR. "While a small
location, Craven represents what this industry is all about: A love for
harness racing. We're looking to build on that foundation, and this weekend
is just the beginning."
posted by Jerry "Jet" Whittaker at 8:09 PM
Littlefield Corporation (OTCBB:LTFD) announces that Richard S. Chilinski has
accepted the position of Chief Financial Officer of Littlefield Corporation
effective Monday, July 31, 2006. Rich is an experienced and seasoned
financial professional with thirty years of related work experience spanning
public accounting, manufacturing, services, consulting and high technology.
He has held financial analysis, estimating, strategic planning, controller,
chief financial officer and vice president of finance positions in
established companies and startups. He has worked for such prestigious
companies as Peat Marwick, Bausch & Lomb, IBM and Baker Hughes. He is
experienced in public company issues having fairly recently been the Senior
Vice President and CFO of a public company with direct experience in taking
the company public, SEC reporting, stock options, shareholder communications
and investor relations.
In addition to the usual expected disciplines of finance, accounting,
treasury, budgeting, forecasting, management and regulatory reporting and
tax planning, Rich is experienced in information technology, human
relations, incentive compensation, mergers, acquisitions, capital
transactions and due diligence.
Rich holds a BA from St John Fisher College and an MBA in Finance and
Accounting from the William E Simon Graduate School of Business of the
University of Rochester. He was formerly a Certified Public Accountant in
New York and will become registered as a CPA in Texas as a condition of his
employment.
Jeffrey L. Minch, President and Chief Executive Officer of Littlefield
Corporation, offered the following comments:
"Rich Chilinski is a seasoned and experienced leader and finance
professional who will be a welcome addition to our Company. He is a solid
businessman.
He has a wealth of experience which will be valuable to the Company
immediately and in the future. He has demonstrated strengths in areas from
which the Company will immediately benefit. He also represents a significant
addition to the Company's day to day management continuity, capability and
depth.
Rich will provide a strong foundation for the Company's continued growth and
his ability to perform at a consistently high level will provide certainty
at a critical time in the Company's history."
posted by Jerry "Jet" Whittaker at 6:03 AM
Lasseters Online Online, the first ever online gambling site to be
government licensed and regulated, is running a competition where one new
player and their companion will win a $15,000 vacation to Australia. Only
players who have never previously played at Lasseters Online will qualify
for the competition. Existing players however are urged to invite their
friends to play at Lasseters.com as the may be the lucky companion to jet
off to Australia for the vacation of a lifetime. Lasseters made history
seven years ago when they became the first online casino to be licensed and
regulated by a recognized land based gambling authority. Today, the casino
is well know to be one of the safest places to play casino games online, as
it has to comply with the strictest regulatory guidelines of any online
gambling site. But this is not the only reason to play at Lasseters. The
casino has stuck to its strategy of developing in-house online casino games,
unlike most other sites that license a games platform from a third party.
The result is a completely unique gambling experience, with some of the best
video slots online. Lasseters especially extend an invitation to previously
registered users who have not made a deposit, as their is now more incentive
than ever to do so. Combine this competition with a five times 100% up to
$100 deposit bonus, and there should be little reason for hesitation.
The Australian Adventure competition closes on August 31, 2006. Said Andrew
Housego, marketing executive at Lasseters Online, "The majority of
competitions conducted on the Internet attain many thousands of entries with
no requirements for entry, offering all concerned a very remote chance of
winning. However, as players are required to make a deposit of $50 or more
to qualify for this competition, the number of entrants is restricted to
serious players, representing tremendous odds for those who take the
opportunity to enter."
To earn your chance to win the Australian Adventure of a Lifetime, simply
visit Lasseters, register for cash play and make a deposit of US$50 or more.
Terms and Conditions apply and can be viewed at the New Player Promotions
page. In addition to this amazing competition, Lasseters also offers its new
players a 100% bonus up to US$100 on each of their first 5 deposits.
posted by Jerry "Jet" Whittaker at 6:02 AM
Jacobs Entertainment, Inc. (JEI), an owner and operator of multiple gaming
properties, today announced that Ms. Teri Grandfield has joined JEI as Vice
President of Northern Nevada Operations. Ms. Grandfield is an industry
veteran and will be responsible for overseeing JEI's three Nevada
properties: the Gold Dust West-Reno, the Gold Dust West-Elko and the Pinon
Plaza in Carson City, which is JEI's latest acquisition. JEI also announced
that Mr. Mike Hachquet has joined the Company as General Manager of the Gold
Dust West-Elko. Mr. Hachquet is a long-time Elko resident and brings a great
deal of experience in the casino industry. He was formerly with the Red Lion
Hotel and Casino in Elko. Additionally, Lynne Keller has accepted the
position as General Manager for the Pinon Plaza in Carson City. Ms. Keller,
a 30-year industry veteran, was previously General Manager of Gold Dust
West-Reno.
posted by Jerry "Jet" Whittaker at 3:28 AM
On Wednesday, August 2, Caesars Palace will celebrate its 40th anniversary
with a toga party at the legendary resort's outdoor Roman Plaza
amphitheater. This historical event will be hosted by actress Jenny McCarthy
and feature a live performance by Otis Day and the Knights, the band that
rocked "Shout" during the toga party scene in National Lampoon's Animal
House. Following the musical set, toga-clad partygoers will be invited to an
after party at PURE Nightclub. Guests who arrive in a toga* will be granted
free admission to both the outdoor concert, sponsored by VEGAS Magazine and
Hendrix Electric Vodka, and the after party at PURE. Doors to the outdoor
concert open at 7:30pm and PURE will open at 10pm. When Caesars Palace
opened its doors on August 5, 1966 the standard of luxury and magnificence
for the hotel and casino industry was changed forever. Its opulent
Roman-Grecian world of fantasy captured international attention as the first
deluxe themed resort casino if its kind. With imported marble statuary,
cocktail servers costumed as "goddesses," a dining experience fit for
royalty and nightly performances by the world's greatest entertainers,
Caesars Palace immediately became the industry standard for the ultimate
luxury resort experience. Forty years later, Caesars Palace has expanded to
almost five times its original capacity. The 85-acre resort features 3,340
guest rooms and suites, the largest poker room in the city, a world-class
health and beauty salon and a 4.5 acre pool and garden complex, two dozen
restaurants and the world renowned Forum Shops at Caesars. In March 2003
Caesars Palace opened its 4,100-seat Colosseum spotlighting international
performers Celine Dion, Elton John, and Jerry Seinfeld. The Roman Plaza, a
4,000-seat outdoor amphitheatre plays hosts to a variety of outdoor sporting
events, concerts and private functions.
posted by Jerry "Jet" Whittaker at 3:27 AM
Harrah's Entertainment has realized that building a worldwide casino
operation is going to play havoc on earnings. The gaming industry's largest
casino operator said Thursday its second-quarter earnings were affected by
development costs and other factors related to growing a company with both
domestic and international interests. Revenue for Harrah's rose 67 percent
in the quarter that ended June 30 to $2.47 billion, compared with $1.42
billion a year ago. In the 2005 second quarter, revenue was collected for
just 17 days from the casinos Harrah's acquired when it spent $9 billion for
Caesars Entertainment. Harrah's said its net income in the quarter was $129
million, or 69 cents a share, up 22 percent from $106 million, or 65 cents a
share, in the same period a year ago. When earnings per share were adjusted
to account for various costs, the company earned 95 cents a share, up from
86 cents a share a year ago. Analysts polled by Thomson First Call thought
Harrah's would earn $1.02 per share in the quarter. Harrah's Chief Financial
Officer Charles Atwood said the company bought back and refinanced $750
million in debt during the quarter, which affected its income statement.
Harrah's had $18 million in development and master planning expenses in the
quarter. A year ago, that figure was $7 million.
The lower per-share earnings were also affected by an increase in the number
of shares outstanding resulting from stock issued for the Caesars
acquisition.
Shares of Harrah's closed at $60.36, down $3.49 or 5.47 percent, on the New
York Stock Exchange. On May 10, Harrah's shares were $83.33.
"We believe the sell-off in Harrah's is a knee-jerk reaction to an earnings
per share miss," Stifel, Nicolaus Capital Markets gaming analyst Steven
Wieczynski said in a note to investors. "On a relative basis, we believe
Harrah's shares are now undervalued and we would accumulate shares at this
level, all else being equal."
Harrah's report, which followed earnings announced this week by Station
Casinos and Boyd Gaming Corp., caused Goldman Sachs gaming analyst Steven
Kent to issue a cautious note about the gaming industry.
"As the third major operator to disappoint this quarter, it is looking
increasingly likely that it may be a difficult quarter across the board for
major U.S. gaming operators," Kent wrote in a note to investors.
Harrah's Chairman Gary Loveman, however, said the company's 11 casinos in
Las Vegas and Atlantic City had a robust quarter.
In Las Vegas, Harrah's casinos, including the five casinos acquired in the
past year, had revenue of $803.3 million, a 154.1 percent increase from
$316.1 million a year ago. Revenue in the quarter from Harrah's Atlantic
City casinos, two of which were acquired from Caesars, was $521 million, up
101.2 percent from $259 million a year ago.
In a conference call with analysts, Harrah's executives said the recent
72-hour closure of Atlantic City's casinos by the state over budgetary
matters will cost the company between 4 cents and 6 cents per share when
third-quarter revenue is announced.
"Our healthy, broad-based growth in the second quarter demonstrates that our
overall operations remain strong," Loveman said.
Loveman said integrating the Caesars' properties into Harrah's corporate
structure brought $118 million in cost savings over the first year of
ownership. The company had originally predicted it would realize $80 million
in saving after buying Caesars.
Loveman cautioned investors that master-planning for future Harrah's growth
will have some implications.
"During the quarter we incurred higher project development and master
planning costs," Loveman said. Harrah's is working on development
opportunities domestically in Rhode Island and overseas in the Bahamas,
Spain and Slovenia.
Harrah's has three days to decide if it will bid on a second gaming site in
Singapore. The company lost a bid for the city-state's first casino site in
the downtown Marina Bay district but is still exploring its options for
Sentosa Island with its Singapore-based partner, Keppel Land.
"We're still evaluating our position there and we have a few more days to
decide," Atwood said. "We figure we'll use all those days to make a
decision."
Atwood said Harrah's would still like to expand to Macau, the Chinese gaming
enclave where Las Vegas Sands, Wynn Resorts and MGM Mirage are building
large hotel-casinos.
The company's main development focus domestically, Atwood said, will be
master-planning its real estate holdings in Las Vegas, Atlantic City and
Biloxi, Miss.
In Las Vegas, Harrah's has 130 acres of land on the east side of the Strip,
which includes the Imperial Palace, Flamingo, Harrah's Las Vegas, Bally's,
Paris Las Vegas and several nongaming parcels. Atwood said the company is
working on a master plan for the land that would involve an overall strategy
where customers could easily visit all of Harrah's casinos.
"We want to remove all the physical barriers," Atwood said. "We look at Las
Vegas from an overall picture, that we offer people a comprehensive
experience at many of our properties."
This week's announcement by Boyd Gaming that Coast Casinos founder Michael
Gaughan would be leaving the company and acquiring the South Coast fueled
some speculation that Harrah's would try to purchase the Barbary Coast, a
former Coast Casinos property now owned by Boyd Gaming.
The small Barbary Coast sits at the corner of Flamingo Road and the Strip,
in the heart of Harrah's casino empire.
"We aren't shy about our desire for the Barbary," Atwood said.
posted by Jerry "Jet" Whittaker at 3:26 AM
When poker's ultimate champion is crowned on Aug. 10, the 2006 version of
the World Series of Poker will have broken every conceivable record since
the tournament was developed 37 years ago in a smoky downtown poker room at
Binion's Horseshoe. In the following months, Jeffrey Pollock will be busy
planning to break all those marks again in 2007. But the other goal for
Pollack, commissioner of the Harrah's Entertainment-owned World Series of
Poker, is to make the 6-week-long event at the Rio more accommodating to the
legions of poker-viewing fans. "I think we can do a better job of elevating
the quality of the spectator experience by making the tournament room more
user friendly," said Pollack, who is also Harrah's vice president of sports
and entertainment marketing. The attendance at professional poker's
signature event will see a marketable increase starting today. The opening
round of the $10,000 buy-in No-limit Texas Hold'em World Championship event
will kick off at noon.
Through Monday, up to 2,000 players a day will play until 800 remain after
each session. On Tuesday and Wednesday, the 3,200 surviving players will
compete until 1,400 are left.
After a one-day break, the 1,400 remaining competitors will play on a daily
basis beginning Aug. 4 until nine remain for the final table.
Two weeks after it all begins, the ultimate champion will take home at least
$10.5 million, a figure that will increase as the number of tournament
entries grows.
Harrah's is anticipating close to 8,000 entries in the world championship
event. As of Thursday afternoon, more than 7,500 players had signed up to
participate.
The Rio's makeshift tournament poker room in its convention center can
accommodate up to 2,000 players per session, which is the reason for the
four-day opening round.
Without a card having been dealt in the championship event, this year's
World Series of Poker has already rewritten the record book.
With 38 of the planned 45 events already completed, almost 36,000 players
have competed, topping the more than 32,000 that participated in all 45
events last year. In 2005, a record $106 million was paid out in prize
money. So far, $73 million in prize money has been awarded with seven events
left to be played. As of Thursday, the main event had a prize pool of $72
million.
The main event is already the tournament's largest field ever. Last year,
5,619 players entered and each of the final nine players won at least $1
million. Australian Joseph Hachem captured a record $7.5 million for his
championship run, a figure already certain to be eclipsed.
"That's really kind of mind-boggling when you think about it," said Hachem,
who is planning to try and win a second straight world poker championship,
although he knows the odds are long.
"I'm a realist. With 8,000 players, I know the field is full of land mines,"
Hachem said. "When you're the champion, people are always gunning for you."
While the main event will draw a crowd, the Rio's four-day Gaming Life Expo,
adjacent to the World Series of Poker tournament room, is also expected to
attract gambling fans.
Poker patrons can visit 235 booths and 23,000 square feet of retail that
includes poker products, apparel, jewelry, and other items. The expo is free
and open to the public, age 21 and over.
"This is my first time going through the World Series of Poker," said
Pollack, who joined Harrah's at the conclusion of last year's event. Pollack
had previously spent five years in a marketing role with auto racing giant
NASCAR.
"The World Series of Poker is a charmed, rich and colorful event," Pollack
said. "The headlines this year have had some wonderful stories."
The tournament began at the end of June and the games have produced several
history-making moments:
-1989 world poker champion Phil Hellmuth won his 10th bracelet, matching
Doyle Brunson and Johnny Chan for the most World Series event wins in the
tournament's history.
-21-year-old University of California, Santa Barbara film student Jeff
Madsen became the youngest person to win a bracelet at the World Series of
Poker, when he captured a $2,000 buy-in No-limit Texas Hold'em event. About
a week later, he won a second bracelet, taking first place in a $5,000
buy-in Short-handed No-limit Texas Hold'em event.
Madsen, who made three final tables in the tournament for two first place
finishes and a third place win, will return to college with more than $1.4
million in winnings.
- 80-year-old Kuei Chi Chang, who had never played tournament poker prior
until this year's World Series of Poker, finished in the money twice in a
matter of days. The Las Vegas resident finished 52nd out of 1,068 players in
one event and 42nd out of 415 in another.
"What's happened so far proves the fact that for an amateur player, dreams
can come true, and for a poker professional, you can make history," Pollack
said.
posted by Jerry "Jet" Whittaker at 8:05 AM
LiveHive Systems today announced that Skybook is enhancing its current
in-game betting offering with the LiveHive NanoGaming Solution in time for
the 2006 National Football League (NFL) season. Last season, Skybook rolled
out a competitive in-game betting product to its customers and found that
bettors were thoroughly captivated by the ability to wager on every play. By
upgrading to the LiveHive solution, Skybook will be launching the next
generation of NanoGaming that provides faster odds generation and longer
betting windows with no software downloads required, resulting in a better
overall wagering experience. "At Skybook we quickly realized the power of
in-game betting during last year's NFL season and thoroughly believe that
NanoGaming is the next phase in sports wagering," said Keith Anderson,
General Manager, Skybook. "The LiveHive NanoGaming Solution is the only
system that can manage the complexities associated with instant odds
generation, short betting windows and over 400 betting opportunities per
game."
The LiveHive NanoGaming Solution is a complete turnkey system that enables
online sportsbooks to offer smaller and frequent "NanoWagering"
opportunities to their customers as the action is taking place during any
live sporting event, reality TV show, or live broadcast such as award shows
or elections. Online sportsbooks are deploying the product now for the NFL
season. NCAA Football, NCAA and NBA Basketball, European Soccer, ATP Tennis,
and Major League Baseball games will be offered over the coming months.
This spring, customers enjoyed placing NanoWagers during the Survivor
reality TV series. This year, NanoGaming will be offered on a number of
other Reality TV programs including: American Idol, The Apprentice, Big
Brother, and The Bachelor.
HivePoint, a wholly owned subsidiary of LiveHive Systems will be launching
its Speed of Sport website, a NanoGaming play for fun site in time for the
NFL preseason. Says Dave Bullock, President, LiveHive Systems, "Speed of
Sport provides sports enthusiasts with a fun, free way to play along as the
action unfolds."
posted by Jerry "Jet" Whittaker at 8:05 AM
Littlefield Corporation announces that Michael J. Lindley has accepted the
position of Senior Vice President - Director of Capital Transactions. He
will assume his new duties in mid-August. In this position, Mike will be
directly responsible for acquisitions, capital transactions related to
raising debt and equity for acquisitions and institutional investor
relations. Cecil Whitmore, Financial Analyst, will continue to oversee
investor relations for the Company's "retail" shareholders. These duties
will entail identifying current bingo hall owners in targeted states,
establishing contact and communicating the Company's acquisition strategy.
Mike will oversee the acquisition process including coordinating due
diligence efforts. He will also be responsible for communicating the
Company's acquisition strategy to likely sources of project and balance
sheet financing in support of acquisitions. In addition, he will be
responsible for communicating the Company's story to current and prospective
institutional shareholders in particular micro/small cap mutual funds and
hedge funds.
Lindley is well-qualified for this new position having worked on Wall Street
for Merrill Lynch in investment banking and having worked for a number of
years in a similar position (with Jeff Minch who was the President and CEO
of that company) in the commercial real estate business. Most recently Mike
has been in a similar position with a public company in the advertising
specialty industry.
Mike was the President and Chairman of a private company employing a novel
technology driven strategy in the advertising specialty business. Most
recently, he has been involved in merchant and investment banking with
Austin-based Focus Strategies.
Lindley, 41, brings a wealth of acquisitions, capital transactions,
investment banking and operational experience to his new position. He and
Jeff Minch worked together for a number of years in the real estate
business.
Lindley is a graduate of the University of Texas and holds a bachelors
degree in Finance.
Jeffrey L. Minch, President and Chief Executive Officer of Littlefield
Corporation, offered the following comments:
"Mike Lindley is a smart, hardworking professional who will invigorate our
acquisition program. His experience and the Company's current portfolio of
acquisition opportunities will result in a more rapid identification,
negotiation and closing of suitable acquisitions.
We enjoyed an excellent and profitable working relationship in the past and
I am confident that he will be a great addition to our team providing
energy, expertise and enthusiasm at a critical time in the Company's
history.
His investment banking background and knowledge of the investment business
will be a valuable addition to our team.
His experience as a President and CEO will provide additional management
depth to the Company."
posted by Jerry "Jet" Whittaker at 8:03 AM
Screw the white picket fence, forget about the little house in the country,
and leave the 2.5 kids at home - winning the World Series of Poker Main
Event is officially the new American Dream and if you're going to take home
the $10 million, you better leave soon. Honestly, I haven't been this
excited about a sporting event since the Red Sox won the World Series in
2004. This year's Main Event is going to be something special and just
thinking about it makes me giddy. My only regret leading up to the largest
land-based poker tournament ever played - I wish I had been even close to
good enough at poker to qualify for the thing. Seeing that a.) It's too late
for me to qualify, and b.) You don't really care to hear my woeful lamenting
or bad-beat stories, let me give you a few insightful nuggets about how to
enjoy poker's biggest week.
1.) Throw a Big Old Party
The problem with the Superbowl is that it only happens once a year. In fact,
all the major party events - New Year's Eve, Cinco de Mayo, July 4th and
General Ulysses S. Grant's birthday - happen only once a year. That's why
there's so many of these things, because people like to party. So why not
throw the Main Event final table in there? The thing is on pay-per-view.
Order it, grab a keg, invite some friends over, and have a little home game
party. Your neighbors will thank you.
2.) Pick More than One Player to Cheer For
This sport isn't like baseball or football, you're not a bad person if you
cheer for more than one "team." That has it advantages. Let's say you're
stuck cheering for a team like the Chicago Cubs. Year after year, your
loyalty is rewarded with heartbreak and misery. In poker, it's an acceptable
"man law" to have a couple favorites and in all honesty, the volatility of
tournament poker makes it likely that your favorite player is no longer
involved when the final table comes around. My suggestion: Cheer for a guy
named Phil. Chances are someone with that name will go deep.
3.) Follow the Action on the Internet
If you're like most poker fans, the Internet has cost you buckets of money.
Therefore, you might as well take advantage of that medium in some way,
mainly through the variety of sites offering live updates, feature stories,
and even play-by-play Podcasts. Not that I'm biased, but Casino City has the
best World Series of Poker feature coverage, including live reporting on the
first day and each of the last four days.
The reason the 2006 WSOP Main Event is so appealing is size of the
tournament and the massive amount of money in the prize pool. While many
poker aficionados claim that thousands of players are bad for poker because
they increase the amount of luck required; I completely disagree.
I say the bigger the tournament, the better. It's American. Supersize me,
XXXL, presidents wearing 10-gallon cowboy hats - we like things big here in
the states so make the field 10,000 people and we'll all be happy.
There was a time when televised poker was one of those shows where you'd be
flipping by the channel and think to yourself.this might be worth watching.
Now, it's simply must-see-TV.
Fortunately, I'll be at the actual event covering each exciting moment live
for Casino City Press (HAHA your job sucks), but if I wasn't going to be in
Vegas, you bet your last chip I'd be paying whatever it costs to see the
final table live on pay-per-view.
No, ESPN is not paying me to say this. I'm serious. I believe the World
Series of Poker Main Event has taken on the significance of the Superbowl,
the World Cup, or even the United State Curling Championship.this thing's
going to be huge.
Here's what it's going to look like.
1.) Around 8,000 players will compete for the WSOP No-Limit Hold'em World
Championship bracelet. There are so many people clamoring to get in this
thing, they may seat up to 500 alternates per day.
2.) The event will start with four "heats." Each day, WSOP officials will
seat 2,000-2,500 people and play until only 800 people remain. Once it's
down to 2400 players, WSOP officials will hold another two heats, this time
with 1600 players each day, played down to 700. From there the players will
combine into one field and play down to a winner.
3.) Every professional you've ever heard of will be playing in this one,
plus a whole bunch of great players you've never seen before.
4.) Phil Hellmuth predicts around 500 competitors will be under the age of
24, meaning more than 1/8 of the field will have a chance to break his
record of the "youngest player to ever win the Main Event." It remains to be
seen if Hellmuth is correct, but either way, this promises to be one of the
youngest fields in recent memory.
5.) The final table will air on pay-per-view August 10th at 12 p.m. PST.
Additionally, Phil Hellmuth will be hosting a radio broadcast live from the
final table. It should be a very interesting show, especially if he makes
the final table.
posted by Jerry "Jet" Whittaker at 8:03 AM
Electronic Game Card, Inc. (OTCBB: EGMI), the creator of the Electronic
GameCard, notes the positive press comments on June 25th 06 regarding Kansas
Lottery's re-order of its battery-powered Super 7's game and is pleased to
confirm it is supplying the Electronic GameCards to Kansas Lottery through
its joint venture with Scientific Games Corp. According to the reports the
battery-powered "Super 7's" instant-winner game has been "flying off the
shelves," with the game "approaching sellout after just five weeks of retail
sales". As a result, Kansas Lottery has made a full re-order. Kansas Lottery
Executive Director Ed Van Petten was reported as saying: "We anticipated a
positive response to the game, but the sales and positive feedback from our
players have gone beyond our expectations." Kansas is the second US state
lottery to introduce an electronic GameCard based game using the Company's
products under the joint venture with Scientific Games Corp. In June, it
began statewide sale of its first 120,000 Super 7 Electronic GameCard game.
"Many lotteries have been seeking a new vehicle to allow them to push their
retail price points for instant tickets above $5 or $10. The Electronic
GameCard has proven to be that vehicle" says Daniel Kane, Senior
Vice-President of EGC. "Examination of the player response certainly points
to a solid player acceptance of both real extended play and the perceived
value of the EGC product. Other lotteries can rest easier and order with
confidence now that the GameCards have proven themselves in two
jurisdictions."
Electronic Game Card is also pleased to confirm that it has made its first
sales of electronic GameCards for use in commercial promotions to the MGM
Grand Casino in Detroit and to the native American Santa Ana Star Casino
north of Albuquqerque in New Mexico.
posted by Jerry "Jet" Whittaker at 10:12 AM
Nevada's gaming companies probably won't become ensnared in Wall Street's
latest scandal involving stock options because of the heavy and transparent
regulation they are subjected to by state regulators, industry officials and
experts speaking on background said. Executives for major gaming companies
all declined to comment about the possibility of their companies coming
under scrutiny for possible backdating or spring-loading of stock option
grants, but the head of the state's Gaming Control Board said his agency is
not aware of any such practices in the gaming industry. The executive
director of a nonprofit research organization agreed that the industry's
argument makes intuitive sense, but noted there is no data to corroborate
it. With 10,000 publicly traded companies in the United States and only a
few dozen under active investigation so far, the apparent innocence of
gaming firms could be a statistical coincidence, said Corey Rosen of the
National Center for Employee Ownership.
The Securities and Exchange Commission is examining whether companies have
timed granting stock options to good and bad corporate news to help boost
executives' compensation. Most of its interest has been aimed at the
technology industry, which generally uses stock options more heavily to
compensate its executives and employees than other industries.
Dennis Neilander, chairman of the Nevada Gaming Control Board, said state
regulators are not aware of any federal investigations into gaming
companies' stock option practices.
To date, Nevada officials have not been notified by the SEC or the U.S.
Department of Justice of any such on-going investigations, Neilander said.
In some instances, the SEC would contact Nevada regulators and ask for their
assistance with such an investigation, he said.
State gaming regulators also would be notified whenever the SEC was ready to
wrap up a criminal or civil investigation involving gaming licensees, he
said.
Any conviction or plea agreement involving stock option grants would be
grounds for revoking the license of a gaming operator, Neilander said.
A fraud conviction involving options grants also could result in lengthy
prison terms and multimillion-dollar fines, gaming officials said.
The recent federal investigations have centered on companies that have
backdated their options to periods when their companies' stock prices were
low and likely to increase.
But an SEC spokesman also confirmed that the agency has been looking into
possible instances of so-called spring-loading, when companies schedule an
option grant ahead of expected good news or delay it until after it
discloses business setbacks that are likely to send shares lower.
There are also cases of bear options, when companies issue options after
they know bad news is about to come out, confident in the knowledge stock
prices will subsequently increase.
Amid allegations of financial abuses involving backdated stock options, the
SEC issued new rules Wednesday, requiring public companies to publish
additional information detailing their top executives' total compensation.
They will also be required to show the values of any options at the time
they are granted.
SEC Chairman Christopher Cox said in a statement that options are a
legitimate form of compensation but stressed that investors need a clear
picture of executives' pay.
Cox has said in public statements his agency is very interested in both
kinds of options abuse, but he acknowledged that it could be difficult to
prove an improper connection between the timing of news and option grants.
In both cases, the idea is to increase the value of the option to the
recipient in a way that is not evident to the board of directors,
shareholders, workers or the public.
Sarbanes-Oxley, the corporate law enacted in the wake of Enron and other
financial scandals, was supposed to clean up this kind of conduct.
But Rosen said corporate finance is following the map of campaign finance.
"The law only added incentives to find other ways around (standards of
ethical conduct)," he said.
"The problem is we'll fix this, or some people will think it's fixed, and
(companies) will just find another way around it," Rosen said.
Rosen said so far this year, about 60 companies have been tagged in
investigations by the SEC or federal prosecutors for their options grants.
He said most of these are high-tech companies, a industry in which stock
options are favored as way to motivate executives and reward them for a
company's success.
The investigations have sparked a flurry of shareholder lawsuits, but none
yet in Nevada, gaming officials said.
posted by Jerry "Jet" Whittaker at 10:12 AM
Cash Systems, Inc., a provider of cash access solutions for the gaming
industry, announced today that it has entered the Chickasaw Nation's newest
gaming facility, Riverwind Casino. Cash Systems provides the casino with a
complete line of cash access services including the all-in-1 atm, credit
card cash advance, debit card cash advance and check cashing. Riverwind
Casino, located in Norman, Oklahoma, opened on July 17, 2006 and includes
2,300 electronic gaming devices and 50 table games throughout 219,000 square
feet of space. Riverwind Casino is one of 15 gaming centers owned and
operated by the Chickasaw Nation. Michael Rumbolz, Chairman and Chief
Executive Officer of Cash Systems, said "Riverwind Casino is a beautiful
facility that will further elevate the gaming market in Oklahoma. Today's
announcement reflects our commitment and dedication to product innovation
and customer service, which continues to strengthen our relationships with
important customers like the Chickasaw Nation."
posted by Jerry "Jet" Whittaker at 10:12 AM
As reported by the Miami Herald: "A beauty store and a restaurant at the
Seminole Hard Rock Hotel & Casino complex near Hollywood are battling ugly
mold problems -- so severe that seven of the boutique's employees have
gotten sick. "The beauty store, The Body Shop, shut its doors for
renovations July 5. "The restaurant, Tequila Ranch, whose kitchen shares the
wall where the Body Shop has its ceiling-to-floor mold problem, closed for
renovations on July 17. "Nance D'Agostino, assistant manager of The Body
Shop, which sells natural skin and bath products, said that she and six
other employees have become sick from the mold the store has had since March
2005. "Neglect and, later, improper cleaning treatments, just made the
problem worse, she said. ".Seminole Paradise workers broke into the back
wall of the store this spring and unearthed a grisly sight, D'Agostino said.
".Michael Bloom, president of the Seminole Hard Rock Hotel & Casino, said
there is no evidence of mold anywhere else in the complex..."
posted by Jerry "Jet" Whittaker at 8:57 AM
As reported by the Independent: "The Economic Development Committee and the
Intergovernmental Relations Committee approved a Navajo Nation position
statement Monday calling for defeat of House bill 4893, which would restrict
off-reservation gaming. "The statement was to be presented to Congress after
gaining IGR approval. "Navajo Nation Council Speaker Lawrence T. Morgan
said, 'H.R. 4893 is the bill that proposes to amend Section 20 of the Indian
Gaming Regulatory Act. Section 20 deals with land in trust for
off-reservation gaming. The Navajo Nation's proposed statement is in general
opposition to the specific point of the bill.' ".According to the position
statement, the Navajo Nation has carefully monitored current congressional
efforts to amend the IGRA 'and hereby voices its opposition to one provision
of H.R. 4893.'."
posted by Jerry "Jet" Whittaker at 8:56 AM
As reported by the Times-Mail: "The deeper Indiana gets into the gambling
business, the more it will need top-notch security officers in casinos.
"Gov. Mitch Daniels has taken a good first step in taking Indiana State
Police troopers out of the gambling houses and putting them back into
communities and on highways, where they best serve their fundamental roles.
"The second step - filling slots for security officers who work for the
Indiana Gaming Commission - is well under way. "...Indiana's state police
officers have earned a reputation for integrity, no matter whether they are
patrolling highways or working in casinos. The new force, working under the
gaming commission, is on the right start to earn that same level of respect.
posted by Jerry "Jet" Whittaker at 8:56 AM
As reported by Reuters: "A bill to outlaw most forms of Internet gambling
appears unlikely to win U.S. Senate passage before senators begin a
month-long recess on August 4, two Republican leadership aides said on
Tuesday. "They said backers of the legislation were trying to build support
for it and resolve differences as the Senate focuses on other legislative
matters and gets ready for a summer break. "The bill was not among the
priorities outlined by Senate Majority Leader Bill Frist, a Tennessee
Republican, during a session with reporters on Tuesday in which he laid out
measures he hopes to wrap up before the August vacation. ".Backers of the
legislation had hoped to swiftly push it through the Senate this month after
the U.S. arrest of David Carruthers, the former chief executive of
U.K.-listed BETonSPORTS, on charges of racketeering and conspiracy."
posted by Jerry "Jet" Whittaker at 8:55 AM
As reported by the Arizona Republic: "An Indian gaming reform bill sponsored
by Sen. John McCain, R-Ariz., that would bar tribes from establishing
casinos off of their reservations has hit a snag, with more than a
half-dozen senators putting a "hold" on the legislation. "McCain's bill (SB
2078) was a response to the scandals involving convicted former lobbyist
Jack Abramoff's nefarious dealings with tribes. The proposed legislation
addresses instances in which tribes work with developers to locate casinos
off ancestral lands, where developers would otherwise be restricted from
developing casinos. "The Senate Indian Affairs Committee, headed by McCain,
already has approved the legislation. But other senators, some anonymously,
are now seeking to block the bill, which would impose the strictest
regulations on Indian gaming since Congress approved the 1988 Indian Gaming
Regulatory Act. That act opened the door to the flood of tribal casinos.
"McCain needs to find 60 Senate votes to overcome the opposition. That would
procedurally release the bill from the holds placed by senators trying to
block it. ".Only four tribes nationally have off-reservation casinos. But
the exemption would protect more than 44 off-reservation applications filed
prior to the deadline, including three by Arizona-based Indian tribes."
posted by Jerry "Jet" Whittaker at 6:55 AM
As reported by the U.K. Telegraph: "Internet gambling company BetonSports
has removed David Carruthers from his job as chief executive following his
arrest in the United States on charges related to an alleged racketeering
conspiracy. "The company said that yesterday 'the contract under which David
Carruthers acted as CEO of the company was terminated'. ".BetonSports said:
'Clearly while he remains in the custody of the US Government he is unable
to perform his duties. Further the company has been unable to speak directly
with Mr Carruthers.' "Mr Carruthers, BetonSports founder Gary Kaplan and
nine other former executives of the online betting company have been charged
with racketeering conspiracy, transmission of wagers, mail fraud, tax
evasion and other charges in a 22-count indictment."
posted by Jerry "Jet" Whittaker at 6:54 AM
As reported by the Providence Business News: "The Town of Johnston and its
prospective casino partner, Ajax Gaming Ventures LLC, are the latest parties
to seek to block a November statewide referendum on the competing West
Warwick-Narragansett Indian Tribe casino proposal. "They filed a lawsuit
late Friday in U.S. District Court, Providence, asking the court 'to
restrain the [R.I.] Secretary of State from placing on the statewide
ballot . the Resolution passed by the R.I. General Assembly for a Casino in
West Warwick to be owned and operated by the Narragansett Indian Tribe and
its 'chosen partner.' ' ".Their July 21 complaint alleges that the proposed
amendment conflicts with the U.S. Constitution, violating the Fourteenth
Amendment right to equal protection under the law and the First Amendment
right to participate in the political process."
posted by Jerry "Jet" Whittaker at 11:12 AM
At the World Series of Poker tournament at the Rio, operators of Internet
gambling sites are hosting swank hospitality suites to promote online poker
games. Potential customers are invited to learn the ropes by playing free
games where no money changes hands. But promotions can no longer be found
for online sports betting, which is being targeted by the U.S. government
because it is illegal in this country. So goes the convoluted, controversial
business of Internet gambling. The country's biggest Internet gambling
conference was supposed to have started Sunday as a welcome back of sorts
for the man who has become the industry's public face. But Calvin Ayre, the
only man to appear on the cover of Forbes' "Billionaires" issue and in
People's "Hottest Bachelors" issue in the same year, won't be posing with
leggy models or mixing with celebrities as planned at Wynn Las Vegas. Ayre
is founder and chief executive of Bodog.com, an Internet casino and sports
book located in Costa Rica that has become one of the most advertised online
betting operations in the United States. Ayre canceled his conference after
the arrest last weekend of online sports book operator David Carruthers at a
Texas airport. Carruthers runs BetonSports PLC, a company that launched a
successful public stock offering in London in 2004 and owns several online
sports books and casinos.
Insiders say the action is more evidence of a growing divide between the
flourishing world of online poker and its black sheep cousin, sports
betting - an activity with strong roots in organized crime.
The Department of Justice says it doesn't distinguish between types of
Internet gambling. It's all illegal, the government says, under the federal
Wire Act - a rule designed to combat Mafia-run bookmaking operations in the
1960s.
Internet casinos and poker sites are different from their sports-betting
counterparts, some legal experts say.
At least two courts have upheld the position that sports betting is illegal
based on the Wire Act, the primary federal rule on gambling. But one of
those decisions also said the Wire Act applies to sports betting and not
other forms of gambling.
That 5th Circuit Court decision in 2002 is one of the chief reasons that
online poker sites and advocates are breathing easy even after the surprise
arrest of Carruthers on 22 counts, including violation of the Wire Act.
The Toronto-based Interactive Gaming Council, the biggest trade group for
online casinos, about three years ago dropped members who took sports bets
from Americans. The trigger was a bill moving through Congress similar to
the Internet gambling prohibition that recently passed the House of
Representatives and now faces scrutiny in the Senate.
Even if the Justice Department doesn't end up targeting poker-only sites,
poker advocates say the BetonSports indictment is a disturbing development
in a libertarian-minded industry that generally dislikes government
intrusion.
Online poker players in Nevada already are breaking the law and getting away
with it. Nevada law prohibits the accepting and placing of bets with
operators that aren't licensed here. While offshore casinos would argue they
aren't based in Nevada or processing bets here, Nevada regulators disagree.
State officials are reluctant to prosecute offshore companies - a monumental
task that's viewed as the job of the federal government - nor do they have
the stomach to prosecute individual poker players.
Several sites, including Bodog.com and ParadisePoker.com, are in the
complicated situation of owning online sports books in addition to their
Web-based casino and poker rooms.
Ayre started Bodog.com as a sports betting site in 2000. The site has
ballooned into a major poker and casino game enterprise.
The Canadian was feeling confident at last year's convention, saying his
business isn't subject to U.S. regulation and is licensed and regulated in
Costa Rica and the United Kingdom, which is developing online betting rules.
His fearless attitude remains intact even as he called off his event and
jumped on a plane to Asia. (His philanthropic foundation is setting up a
sanctuary in Vietnam to protect bears from the underground practice of
farming bile from bears' livers - one of several far-flung charitable causes
he is pursuing .)
"The actions taken by the authorities (against BetonSports) have nothing to
do with our organization; we are simply acting prudently for all concerned,"
Ayre said in a statement.
Bodog canceled the event after getting flooded with calls from concerned
conference attendees after the Carruthers indictment, he said.
Ayre is moving the conference abroad but plans to continue hosting charity
events in the United States, which in years past have included
celebrity-studded parties in Hollywood and Hawaii.
One legal expert says he would be wise to stay out of the country for the
foreseeable future.
"I think the liability (for sports book operators) is open and shut," said
Joseph Kelly, a law professor and Internet gambling expert at State
University of New York at Buffalo and a speaker at last year's Bodog
conference.
Meanwhile, Bodog's hospitality lounge - which promotes the company's poker
site and makes no mention of sports betting - is open and ready for
entertaining at the Rio. So is the lounge for ParadisePoker.com, a site
owned by a publicly traded company in London that also runs a sports betting
operation here.
An after-hours party - a highlight of the Internet gambling conference -
will still go forward at the Venetian's Tao nightclub Tuesday, with
appearances by television celebrities and singer Vince Neil of the band
Motley Crue.
As online poker's estimated 23 million-player base continues to grow, the
Poker Players Alliance, a Las Vegas-based lobbying group that formed a few
months ago with the primary purpose of combating an online betting ban under
way in Congress, is gaining membership and some measure of respect.
The alliance claims more than 40,000 members and to be attracting hundreds
more since the House of Representatives passed an Internet gambling
prohibition two weeks ago aimed at capturing all casino games, including
online poker, under the Wire Act's net.
"Just putting the word 'Internet' in front of poker shouldn't make the game
or people behind it suspect," said Michael Bolcerek, an amateur player and
president of the alliance. "A lot of (legislators) will privately agree with
you, but publicly will take a political stand."
posted by Jerry "Jet" Whittaker at 11:11 AM
Nevada gaming regulators need to get tough, in a hurry. The state's Gaming
Control Board takes great pride in being strict enforcers of the rules that
govern Nevada gambling. And they are - for the most part. But the meteoric
growth of the poker business has blinded the gaming industry's cops, and
they seem unable to deal with the new realities that have accompanied the
rise of Internet poker. Playing poker online for money is illegal in Nevada,
according to state law, and the federal government says it is illegal
everywhere in the United States, a stance the online poker business hopes
the courts will overturn. Nevada gaming regulators originally took a tough
stand against Internet poker. They forced prospective gaming license
applicants to sell their ownership stakes in online casinos. They prohibited
poker tournaments in state casinos from licensing online poker rooms to
conduct official satellite tournaments that send winners to play in Nevada
events. They did so because almost every top Web poker room accepts bets
from the United States, including Nevada. Regulators considered the poker
Web sites to be lawbreakers. That was when the online poker business was
still relatively small. But after Tennessee accountant Chris Moneymaker
parlayed his $40 PokerStars satellite victory into a (non-officially
sanctioned) entry into the 2003 World Series of Poker championship event at
Binion's Horseshoe and took down the top prize of $2.5 million, the online
business exploded. Online poker sites ran countless commercials on the
dozens of hours of televised poker shows available each week.
The revenue stream fueled more poker TV shows. With Moneymaker's win and the
TV exposure, Web poker boomed, as did revenue in Las Vegas poker rooms and
the tournaments they held.
The World Series of Poker championship event drew 839 entries in 2003, a
number that jumped to 2,576 in 2004, 5,519 last year and is expected to
reach 8,000 or more this year.
Those skyrocketing numbers have been driven by online sites.
One week ago PokerStars held a single online satellite tournament that will
send an incredible 234 players into this year's WSOP $10,000-entry
championship event. Dozens of other sites will send thousands more entrants.
What I find astonishing is that the Gaming Control Board allows the
properties hosting major poker events to ally themselves so closely with
poker Web sites that invite players to break the law.
At the WSOP, now under way at the Rio, Harrah's sold official hospitality
rooms just steps away from the poker competition to several online poker
rooms: Doyle's Room, Bodog and Ultimatebet. Other sites rent luxurious
suites at the host hotel, the Rio.
. . .
From the felt tops of the WSOP poker tables, which feature a PartyPoker
logo, to World Series media director Nolan Dalla, also a top spokesman for
PokerStars, the incestuous relationship between legal Nevada casino poker
and illegal online poker has never been clearer.
Harrah's can get away with the close partnerships because the online
operators use their Web sites' "dot net" suffix, meaning that they call
themselves by the names of their "educational" sister sites that offer free
play instead of poker for money.
Ultimatebet.com, where you can bet, with a wink becomes Ultimatebet.net,
where you can't. So Harrah's isn't technically partnering with illegal
operators, and regulators aren't technically allowing a rule-breaking
partnership.
Control Board Chairman Dennis Neilander says the distinction between the
dot-coms and the dot-nets matters and that regulators don't see a problem
with the dot-net marketing at the WSOP.
He's wrong. The dot-net distinction shouldn't make a difference. Nevada
casino operators shouldn't be partnering with illegal online casino
operators - or their shadow sites.
It's time for Nevada regulators to say enough is enough and prove they still
have the backbone to stand up to the big money of online casinos.
posted by Jerry "Jet" Whittaker at 11:10 AM
The World's first government licensed and regulated Internet Casino,
Lasseters Online, is giving one lucky new player and their chosen companion,
an unforgettable trip to Australia, valued at approximately US$15,000. The
competition is only open to players who have never previously deposited at
Lasseters, but existing players are being urged to refer their friends and
relatives to the site, in the hope that they may earn themselves a seat on
the plane. Lasseters' spokesperson, Andrew Housego believes it would be the
fair thing to do. "If I was to refer a friend to Lasseters and they happened
to win a US$15,000 holiday to Australia, I'd like to think that I'd be their
first choice to accompany them". Many thousands of people have registered at
Lasseters since they began operating over 7 years ago, with a number of them
yet to make a deposit to their account. These lucky players are still
eligible to participate in the competition and if they have forgotten their
login details, they need not be concerned. Lasseters' Customer Support team
will provide them with any assistance they require to access their account
and earn their chance to win the trip.
The competition concludes on the 31st of August 2006, so time is running out
to enter. Mr Housego has revealed that it is well worth the effort. "The
majority of competitions conducted on the Internet attain many thousands of
entries with no requirements for entry, offering all concerned a very remote
chance of winning. However, as players are required to make a deposit of $50
or more to qualify for this competition, the number of entrants is
restricted to serious players, representing tremendous odds for those who
take the opportunity to enter."
To earn your chance to win the Australian Adventure of a Lifetime, simply
visit www.lasseters.com, register for cash play and make a deposit of US$50
or more. Terms and Conditions apply and can be viewed at the New Player
Promotions page. In addition to this amazing competition, Lasseters also
offers its new players a 100% bonus up to US$100 on each of their first 5
deposits.
posted by Jerry "Jet" Whittaker at 11:09 AM
The surprise airport arrest of a prominent UK internet gambling executive
this week is a counter-productive application of US law that ignores complex
international trade issues, says Larry Gaydos, partner in the White Collar
Defense/Antitrust Practice Group at Haynes and Boone, LLP. "Selectively
targeting foreign businessmen who are respected in their own country to
sensationalize the issue is unfair to the individuals and our friends in the
international community," says Mr. Gaydos, who has extensive experience in
white collar criminal defense, foreign trade, and general criminal matters.
"Long-term, it may also have adverse consequences on US business. If the
tables were reversed, I am sure the US would be outraged." Along with the
recent extradition of three UK bankers to face Enron- related charges in
Houston, the arrest of BetOnSports.com executive David Carruthers at
Dallas-Fort Worth International Airport Sunday night has prompted many in
the UK business and legal communities to cry foul. As the New York Times
pointed out this week, "Now, many fear that the same controversial
extradition treaty could be used to force British online gambling executives
to stand trial in the United States." Understandably, gaming stocks on the
London Stock Exchange have been severely impacted.
But, Mr. Gaydos says, the two cases are actually quite different in legal
foundation. The British banker extraditions involved wire fraud, but
encompassed conduct that would be a crime in most countries. The supporting
FBI affidavit used in the extradition proceedings properly sets out a
"probable cause" case, he says.
The Carruthers arrest, however, is problematic because the activity
involved -- online gambling -- is legal in the UK.
"The issues involved are complex international issues involving trade and
broader issues about the international policing of the Internet," Mr. Gaydos
says. "The many problems associated with both these international issues
require international solutions. The US attempt to do an end-run through a
publicized arrest like this is legitimately perceived as arrogant and
probably counter-productive to the mutual international goal of solving a
growing problem."
posted by Jerry "Jet" Whittaker at 11:59 AM
Budget Secretary Michael J. Masch released the following statement today
after the Gaming Control Board voted unanimously to approve the
administration's financial solvency plan for the board's 2006-07 operations:
"I am very pleased that the board voted to accept the administration's
funding plan, which will ensure that the board can continue its important
regulatory work and bring long-awaited property tax relief to the residents
of Pennsylvania. "The commonwealth will begin to see revenue from gaming
when the board completes its licensing activities. Gaming revenue will be
used to provide property tax relief for Pennsylvanians, which has been the
commitment of Governor Rendell since he campaigned for office. "The original
gaming appropriation was $36.1 million. Under the agreement approved today,
$6.6 million of that appropriation that had been allocated to the Department
of Revenue will now be reallocated to the Gaming Control Board. In addition,
$3.8 million of the original appropriation that had been allocated to the
Pennsylvania State Police will be reallocated to the Gaming Control Board.
As required by Act 71, the legislation that authorized gaming in the
commonwealth, all these funds will be fully repaid when gaming revenues
become available.
"Last month, members of the General Assembly joined together to pass the
Governor's historic property tax reform measure. After years of debate on
the issue, real property tax relief is now within reach. Continued efforts
by the Gaming Control Board will bring gaming revenues to the commonwealth,
and full property tax relief will be a reality."
posted by Jerry "Jet" Whittaker at 11:58 AM
As reported by the Register Guard: "Governors wield what amounts to a veto
pen when it comes to off-reservation casinos. "Just ask the Arapaho and
Cheyenne tribes, which tried in 2004 to win the approval of Colorado Gov.
Bill Owens for an off-reservation casino near Denver's airport. Owens said
no, and that was that. "In Oregon, Gov. Ted Kulongoski has agreed to let the
Confederated Tribes of Warm Springs replace its Central Oregon casino with
one in the Columbia River Gorge town of Cascade Locks. He signed a compact
last year with the tribe that allows the casino, while securing
environmental and labor safeguards plus millions of dollars for a college
scholarship fund. "While the governor and the tribes insist that such a move
sets no legal precedent, others say it sets a precedent of the political
sort. ".Kulongoski and Warm Springs leaders reject the notion that the Gorge
casino creates the 'if-you-let-one-tribe-move...' quandary that critics
portray it to be. ".'It's not a precedent because nobody else is going to
come forward with the same fact pattern,' said David Reese, Kulongoski's
legal counsel."
posted by Jerry "Jet" Whittaker at 11:58 AM
State Supreme Court Chief Justice Frank J. Williams and Governor Carcieri
have both called into question a pro-casino advertisement that ran this
week. "Williams and other justices raised concerns about the full-page color
ad by Harrah's Entertainment and the Narragansett Indian Tribe, saying it
might be misconstrued as an official court communication or that the judges
took a position on the casino question. "When Governor Carcieri's office was
asked about the ad, his spokesman went further calling it 'blatantly false
advertising.' "The ad, purchased in The Providence Sunday Journal, has a
large photo of the state's main courthouse and in big bold letters says:
'The Supreme Court Agrees: The People Have the Right to Vote.' "However,
that's not quite true. "The court declined last week to rule on the
constitutionality of a November ballot question asking voters to approve a
West Warwick casino. Sidestepping the issue, the court said Carcieri, who
brought forth the challenge, had no standing to do so."
posted by Jerry "Jet" Whittaker at 11:57 AM
As reported by the Buffalo News: "The Seneca Nation of Indians is shielding
its members from paying millions of dollars in federal income taxes on their
personal share of tribal casino profits. "The nation claims no taxes are due
because the money is tied to a tax-free lease settlement the tribe struck in
Salamanca 12 years before it opened its first casino. "A newsletter to
members of the tribe, along with land transaction records and Seneca filings
with the Securities and Exchange Commission, spells out a complex scheme the
Seneca Nation is using to avoid federal taxes on $75 million in casino
bonuses individuals will receive this year and next. "The two congressmen
who sponsored the 1990 Seneca Settlement Act for its Salamanca leases say
the legislation was never intended to help the Senecas acquire land for
casinos or avoid paying federal taxes on gambling profits. "And the Internal
Revenue Service suggests the money paid to individual Senecas might very
well be taxable.
"At issue are the $4,500 payments that will be sent to each of the tribe's
7,200 enrolled members this year and the $6,000 they will be paid next year.
".Federal law requires that taxes be paid on per capita payments to tribal
members from their casinos, and IRS regulations require both tribes and
their members to report this money as income.
"But Seneca leaders say the nation is exempt from those requirements because
the millions of dollars they are paying tribal members do not come directly
from gambling revenues."
posted by Jerry "Jet" Whittaker at 3:53 AM
As reported by the Pittsburgh Post Gazette: "A South Side community group
has decided that the best bet for Pittsburgh's slot machine casino is right
in its back yard. "At a news conference yesterday, the South Side Local
Development Co. threw its support behind the bid by Forest City Enterprises
to build a casino at Station Square. "The endorsement came in conjunction
with an agreement reached between the developer and the nonprofit group
under which Forest City pledged to provide money for community-related
programs and initiatives. "As part of a state tax credit program, Forest
City would give $150,000 a year for 10 years to the South Side group for
community projects if it gets the casino license, or $50,000 a year for five
years if it doesn't. "In exchange for the contributions, the developer could
be eligible for tax credits of 70 percent under the Neighborhood Partnership
Program, assuming the arrangement is approved by the state's Department of
Community and Economic Development."
posted by Jerry "Jet" Whittaker at 3:33 AM
As reported by the Madison Record: "The 'home of the loosest slots' was
named in two separate Jones Act suits filed in St. Clair County Circuit
Court on allegations that the riverboat gambling facility failed to provide
two employees safe places to work. "The first suit against Casino Queen
filed July 10 on behalf of Jacob Strangle, claims he sustained severe and
permanent injuries while in the performance of his duties on Aug. 16, 2002.
".The second suit filed three days later claims bartender Benjamin Snyder
injured his right shoulder on Dec. 10, 2004, while performing bartending
duties. ". In April, The Illinois Appellate Court ruled that employees who
work on the Alton Belle Casino are 'seamen' and can sue for damages under
the Jones Act, a statute that provides a means for recovering legal damages
for maritime workers."
posted by Jerry "Jet" Whittaker at 3:32 AM
As reported by the Press of Atlantic City: "Lady Luck smiled upon, and then
deserted, a Philadelphia man when he won about $20,000 in a casino and then
had the money stolen, police said Thursday. "Kamish Patel, 38, of
Philadelphia, won a large sum of money early Wednesday morning at the Trump
Taj Mahal Casino Resort, police said. At about 7 a.m., he went to hide the
cash in his vehicle parked in the casino garage. "When Patel returned to the
car at about 2:20 p.m., he saw that the window had been smashed and the
money stolen, police said."
posted by Jerry "Jet" Whittaker at 7:49 AM
As reported by Pahrump Valley Times: "Mountain View Casino owner John McCaw,
late of Pahrump, died suddenly in Las Vegas at the Rio Hotel and Casino. He
was 50 years old. "McCaw had been battling Hodgkin's lymphoma for a year,
and his death from pneumonia was the result of complications from his
chemotherapy treatments. ahrump Valley Times McCaw had just returned to
Nevada from Bradenton, Fla., where he had recently relocated in order to be
closer to the spring-training home of his beloved Pittsburgh Pirates
baseball team."
posted by Jerry "Jet" Whittaker at 7:49 AM
As reported by the U.K. Guardian: "The online gaming group PartyGaming today
brushed aside concerns raised by the arrest in the US of a British executive
from a rival company as it reported soaring revenues. "PartyGaming, owner of
the world's largest online poker site, PartyPoker, said the drop in share
prices in online betting companies following the indictment of BetonSports
presented acquisition opportunities. "Mitch Garber, PartyGaming's chief
executive, told Reuters: 'I've had a very strong M&A (mergers and
acquisitions) focus in my previous life and Martin (finance director Martin
Weigold) and I have been looking at companies,' he said. 'Any time price
becomes more attractive, I guess deals become more attractive.' "As for the
turmoil that has engulfed rival BetonSports following its indictment by the
US justice department, Mr Garber said: 'The characteristics of the
indictment are very far away from what PartyGaming does.'."
posted by Jerry "Jet" Whittaker at 7:48 AM
As reported by the Scotsman: "Stanley Leisure, Britain's biggest casino
operator, said today that its business in Scotland had not been affected by
the smoking ban. "As the company posted a near doubling in annual profit, it
said the ban on smoking in enclosed public places, introduced in March, 'has
not had a material effect on our four casinos in Scotland'. "Stanley, which
has three of its 41 casinos in Edinburgh, including Cascades in Leith, said
it made a pre-profit on continuing operations of £31.9 million in the year
to April 30, a rise of 97 per cent on the previous year on revenues that
were two per cent higher at £224.8m. "But the company said the start of the
current year had been hit by a double whammy of a number of big wins at its
London casinos and Italy's success in the World Cup, which had affected its
international betting unit. ".Chief executive Bob Wiper described the
performance as 'satisfactory' in what he said had been ;a strategically
important year' ."
posted by Jerry "Jet" Whittaker at 11:56 AM
The Beach nightclub on Paradise Road would be razed and a 600-room high-rise
tower and casino would be squeezed onto its 1.25-acre site under a
development plan that won initial approval from county officials this week.
With hotel rooms for tourists and condominiums for homebuyers, the as yet
unnamed mixed-use project would meld the traditional Las Vegas gaming resort
with the valley's still-expanding Manhattanization housing trend. "It'll be
a true hotel with 300 rooms rented by the night and 300 resort
condominiums," said Greg Borgel, the land-use consultant working on the
project for Three Sixty Five, the partnership group that owns The Beach.
Documents filed with Clark County show Three Sixty Five principal Rick
Tuttle and his partners also plan a 20,000-square-foot casino and an
18,000-square-foot restaurant and lounge area in the 39-story building.
Borgel said the proposed tower is not too large a development to place on
less than 2 acres. "That's the new style," he said. "Up instead of out and
big projects on small pads." Since the condo tower trend began about three
years ago, many projects have won municipal approval only to fizzle without
adequate financing. But Borgel said the investment Three Sixty Five has made
on architectural planning, consultants and other pre-deveopment costs
indicates the group is serious about building.
"This is a real deal," he said.
The Clark County Planning Commission on Monday unanimously approved lifting
a height restriction to allow the proposed tower's 490-foot height, but
county commissioners must still sign off on the project next month.
In recommending approval, county staff members noted that the project site
on the southwest corner of Paradise and Convention Center Drive is near the
Strip and seems a sensible area for future extension of the gaming resort
corridor.
Although operated as a dance hot spot, The Beach already has a gaming
license.
Industry analysts said developing the available locations along Paradise
into full-scale casinos seems to be the next, logical step for gaming
development.
"When there is a limited amount of space on the Strip, you start looking for
the best convenient location just off the Strip," Morgan Joseph gaming
analyst Adam Steinberg said. "If done properly, the potential is there."
Steinberg likened Paradise Road to the development on West Flamingo Road,
where the Palms, Rio and Gold Coast casinos operate.
Redevelopment on the Strip could also affect Paradise Road. Any remodeling
of the Sahara and Riviera, two large Strip casinos that are for sale and
have automobile access from Paradise, could affect that location.
The former Wet 'n Wild water theme park is on 27 acres accessible from both
the Strip and Paradise. Its owner, Archon Corp., has entered a deal for its
sale, but the deal is not expected to close for another year. Plans call for
a hotel-casino on the site.
Also, the Las Vegas Hilton, Paradise Road's prime tenant, sits on a 59-acre
site. Colony Capital, which owns the Las Vegas Hilton, has said it was
exploring a master plan for the location.
The Beach has fewer than 20 slot machines, which are managed by slot machine
route operator Herbst Gaming. The nonrestricted gaming license, however, has
been in place since before The Beach opened in October 1995, allowing the
location to maintain its gaming status.
Owners will have to go through a licensing process to place a full Las
Vegas-style casino on the site.
"If the location is grandfathered in, at that point it would suitable for a
casino," Gaming Control Board member Mark Clayton said. "Whoever operates
the casino would be subject to our general background check for licensing."
Before becoming The Beach, the facility housed two the ill-fated ventures.
The DaVille Casino opened in 1974, but was never operated as a casino with
the operators never able to obtain licensing.
The location was sold in 1991 to two British brothers, who spent more than
$9 million to open Sport of Kings, a stand-alone race and sports book with
an emphasis on horse racing. The facility also included slot machines.
However, a drawn-out battle to win a gaming license kept the facility closed
until it eventually opened in October 1992. The Sport of Kings never gained
much of a following and the race book closed in December 1993.
Three Sixty Five's Tuttle and his partners bought the site for $3.9 million
in March 1995 and remodeled the building into The Beach.
Although Piero's Italian restaurant is adjacent to The Beach, Borgel said
the new tower will not physically affect the popular eatery's building.
posted by Jerry "Jet" Whittaker at 11:56 AM
As reported by the Tuscon Citizen: "The Tohono O'odham Nation has a new
casino boss to oversee construction of the new Desert Diamond Casino on
Nogales Highway as well as the tribe's entire gaming operation, the tribe
announced this morning. Scott Sirois started July 10 as chief executive of
the Tohono O'odham Gaming Enterprise after five years as general manager of
the Robinson Rancheria Resort & Casino in Lake County, Calif., about two
hours north of San Francisco. "While at Robinson, Sirois oversaw several
expansions to the tribal casino, including the construction of a resort,
hotel and conference center. "Sirois comes on board in Tucson in the early
stages of construction of a new $120 million Desert Diamond casino, hotel
and conference center on Nogales Highway to replace the so-called "tent"
casino that has no hotel. ".The Tohono O'odham hope Sirois' arrival brings
stability back to the tribe's casino operations."
posted by Jerry "Jet" Whittaker at 11:55 AM
As reported by icLiverpool: "Liverpool gaming group Stanley today confirmed
it will bid for all 17 new casino licences under the 2005 Gambling Act. "The
government is considering applications for eight small, eight large and one
regional 'super' casino around the UK. ".Under the previous 1968 Gambling
Act, Stanley was granted three new casino licences, including one in its
Dale Street headquarters, and five that are being progressed."
posted by Jerry "Jet" Whittaker at 11:54 AM
As reported by the Vancouver Sun: "Chances are you're dreaming of winning
the jackpot if you blow a few dollars on the lottery, and that dream will
die when the numbers are drawn -- at least until the next chance. "Much
surer bets are that the individual who sold your ticket will make money,
along with three levels of government, numerous non-profits and everybody
else involved in every facet of British Columbia's $2.26-billion
government-controlled gambling industry. ".Prizes to lottery and bingo
winners accounted for $641.5 million or about 31 cents of every dollar
wagered in the 2005-06 fiscal year, according to the B.C. Lottery Corp.'s
annual report released Monday. The lottery gave B.C. 14 instant millionaires
over that time (13 of the 14 collected $2 million or more).
"But the biggest winner was the B.C. government. It scooped up $914.4
million, or about 45 cents of every dollar, up $103 million from the
previous year. Lottery retailers and casino and bingo service providers
divvied up $483 million, about 23 cents of every dollar, up from $409
million in 2004-05.
".In addition to $32.9 million in GST revenues, Ottawa collected $8.3
million from B.C. under a long-standing agreement with the provinces on the
withdrawal of the federal government from the lottery field."
posted by Jerry "Jet" Whittaker at 11:11 AM
Harrah's Entertainment isn't saying much about its plans to redevelop its
center Strip properties. Details are expected this fall. In the meantime,
Strip watchers have some free advice. For starters: Don't mess with Caesars
Palace, arguably the world's best-known casino. It makes sense for Harrah's
to tear down its time-warped, low-rent Imperial Palace, but elegantly
middle-aged Caesars still is the opulent flagship and will stand up
admirably to a new wave of ultrahip Strip developments. While access to the
mazelike property could be improved and its old-fashioned Strip frontage
better exploited, Caesars doesn't need a makeover a la MGM Mirage's $7
billion Project CityCenter. "Caesars is probably going to have its best year
in the last 10 years," said Andrew Zarnett, a bond analyst with Deutsche
Bank Securities. "Every day they wake up and think, 'How can we make this
property better.' And the incremental cost of making it better is a lot more
profitable than building a new resort from scratch.' "
The property has tumbled through various owners and has grown topsy-turvy
but it "will always have a place in Las Vegas at the mid to high end" as
long as the company continues to pump money into the property, Zarnett said.
"People just love that brand."
Second piece of advice: Don't mess too much with cash cows Harrah's or
Flamingo, either. Yes, they could use some cosmetic surgery but, based on
the legions of slot players who flock to the hotels, the two properties are
still alluring and there's no need to go under the knife - ahem, wrecking
ball - to seduce young hipsters.
Harrah's base "is Middle America," Zarnett said. "It isn't the elite top 20
percent or the bottom 20 percent. They have a wide base in the middle."
Jeffrey Compton, a Las Vegas casino consultant, gives Harrah's a bit more
credit than that. "Harrah's is very comfortable catering to the upper-middle
class," he said. "They're not after whales, but they are moving up. They're
good at upgrading their properties. They're not ones to buy a property and
let it rot."
With dramatic developments up and down the Strip, it's time for Harrah's to
look into the mirror and prepare for its next close-up.
. . .
Just when you think the argument about whether poker is a legitimate sport
has played itself out, the tedious debate has resurfaced. A Washington man
is waging an uphill battle with Nevada regulators to legalize pari-mutuel
betting on poker and, for that matter, billiard tournaments.
The discussion turned downright silly at the board's July meeting.
Attorney Louis Czoka, representing Washington lawyer Harry Platis, struggled
to explain before the board why poker is different from, say, chess,
backgammon and bridge. Poker, he explained, is more similar to target
shooting and curling because it involves controlled body movements. And
still, poker is not a far cry from traditional sports, either, because it
requires stamina.
"You're not just playing your cards, you're playing your opponent," Czoka
said.
True enough, though any poker pro knows an amateur with lucky cards is tough
to beat, just as the odds of winning have gotten a lot longer as tournaments
attract the masses.
Czoka also didn't win any points with former Las Vegas FBI boss and state
Gaming Control Board member Bobby Siller, who said he didn't see many
similarities between shooting guns and playing poker.
Control Board Chairman Dennis Neilander acknowledged that the sports betting
regulation is vague and should be tightened up. If read broadly, casinos
could offer betting lines on just about anything, he said.
And what's so wrong with that? Where there's a hobby, there's a fan and a
bet to be made, which means more tax money, right?
"I was in a local establishment, and they had these hermit crabs on a
table," Neilander said, implying that betting was in process. "They put
helmets on them or something like that."
Board member Mark Clayton suggested that his biggest fear would be watching
grown men bet on dominoes, video-game tournaments and even Candyland board
games.
"Where do you draw the line, Mr. Czoka?" Clayton said.
Hopefully not between Candyland and the hermit crabs.
. . .
What's old is new again on the Strip, where developers are trying to snap up
the last remaining parcels for luxury development.
At a recent Gaming Control Board meeting, the general manager of the Barbary
Coast half-jokingly referred to the 200-room property as a "boutique" hotel.
It may not look anything like the tony Mondrian in Los Angeles or the swank
Delano in Miami Beach, Fla. But the property - which sits on the busy
intersection at Flamingo Road and the Strip - is nevertheless sitting on a
redevelopment gold mine.
The Barbary Coast opened in 1979 and looks its age, with a cavelike interior
and plenty of worn carpet.
But that doesn't matter to Harrah's Entertainment, which is vying to
purchase the old dame as part of a master-planned redevelopment of its
center Strip properties next door.
If Harrah's decides it doesn't need the Barbary Coast to complete its
project, Boyd Gaming Corp. can maintain the property's status as one of the
Strip's smallest - uh, make that boutique - hotels.
posted by Jerry "Jet" Whittaker at 5:49 AM
As reported by the Chronicle: "U.S. Sen. George Voinovich said Monday he's
ready to battle again with gambling proponents who want to expand legalized
gambling in the state but warned that this time the foe is much stronger.
"Voinovich, who opposes putting any proposal for slot machines in Ohio on
the Nov. 7 ballot, told reporters and editors at The Chronicle-Telegram the
costs of gambling far outweigh any benefit. ".Horse racetrack owners and
others are pushing the proposed Learn and Earn amendment to Ohio's
constitution, which would allow slot machines at each of Cleveland's seven
race tracks, the Nautica Entertainment Complex and Tower City. If approved,
the machines will generate an estimated $2.3 billion annually with $700
million of that earmarked for college scholarship programs. "But Voinovich
cautioned voters that only people running the slot machines will benefit in
the long run because of the money those billions of dollars that will be
lost in state revenue, and therefore programs."
posted by Jerry "Jet" Whittaker at 5:47 AM
Phil Hellmuth's second legitimate chance to capture his record-tying tenth
WSOP bracelet ended in continued frustration Monday as the poker superstar
again watched a first time WSOP champion take home the hardware. Scott
Clements, who went into the $3,000 WSOP Event #24 Omaha High-Low final table
as the chip leader, led wire to wire. The Mount Vernon, Wash. native has
cashed twice in previous WSOP events, including an Omaha event earlier this
Series and the 2005 WSOP Main Event. His win yielded him $301,175. To secure
his first major victory, Clements had to battle through an experienced final
table, besting three WSOP bracelets holders and decades worth of WSOP final
table experience.
Second place finisher Thor Hansen has been a staple at the WSOP since 1988
when he won his first gold bracelet playing 7-Card Stud. Since that time,
Hansen has added another bracelet (2002, Ace to 5 Lowball), made 14 final
tables, and cashed in 31 events. So far in the 2006 WSOP, Hansen has cashed
three times.
Poker veteran Brent Carter, who has two bracelets, 14 final tables, and
35-cashes in his WSOP career, finished in third place.
Hellmuth was the final table's main attraction, but after an early series of
bad hands, Hellmuth busted in sixth place. His play in WSOP Event #24 was
good enough for his fourth cash in the 2006 WSOP and another $48,576 in
prize money. Hellmuth now had 53 cashes in the WSOP all-time, adding to the
record he set earlier in the series.
The Young Keep Getting Richer
One day after Jeff Madsen became the youngest WSOP champion in history,
21-year old Seattle, Wash. native Ian Johns won his first gold bracelet in
WSOP Event #23, a $3,000 Limit Hold'em event.
Johns won $291,755 for defeating 340 players. Before Monday, his largest
poker victory to date was a 14th place finish at a minor event in the 2006
Fourth Annual Five Star Poker Classic at the Bellagio in Vegas.
Johns began playing poker online with a $50 bankroll. After watching his
money dwindle down to $6, he told his wife Mandy Twiggs-John that he would
quit playing if he lost the rest. He never did and now he is a WSOP
champion.
Because Johns is from a state that recently made online gambling a felony,
he has changed his focus to land-based poker, a move that seems to be
working out so far for the budding young player.
"It's ridiculous," Johns said about the Washington state law. "I have not
played online poker since June 7th (when the law went into effect). We will
probably be forced to move because of the law."
Jerrod Ankenman, who is the co-author of the upcoming poker book "The
Mathematics of Poker" with two-time 2006 WSOP bracelet winner William Chen,
finished second to Johns in a one-sided heads up match.
Johns went into the final pairing with a sizable chip lead and never let up.
Ankenman received $150,586 for his second-place finish and his success,
combined with Chen's, will likely result in an even better return when the
book is released.
Final Table Set for the $2,000 WSOP Event # 25 No-Limit Hold'em Shootout
For those not familiar with a shootout format, players must defeat everyone
at their table before advancing to the next round. Players continue to
advance by winning their tables until only 10 players remain. Once that
occurs, final table play begins.
Everyone playing at the Event #25 final table will begin with 200,000 chips.
Professionals Roland de Wolfe and David Pham will enter with the most
experience.
A regular on the World Poker Tour (WPT), de Wolfe won the WPT Grand Prix de
Paris in Season Four and placed third in the WPT Championships at the
Bellagio this spring.
Pham has one WSOP gold bracelet (2001 S.H.O.E), three WSOP final tables and
11 WSOP cashes.
But everyone who qualified for the final table had to defeat each of the
competitors at their previous tables, competition that included some of the
biggest names in the sport.
Chad Layne outlasted tournament poker superstar Kathy Leibert in a classic
heads-up bout to earn his spot. David Bach had to defeat eight players, then
play David Singer heads-up for his seat and Pham had to beat Mike Sexton to
make Day Three.
Here are the final table participants for Event #25. Play will begin again
today (July 18) at 2 p.m. PST.
Dustin Woolf
David Bach
Jason Dewitt
Roland de Wolfe
Adam Kagin
David Pham
Jerald Williamson
Jeff Heiberg
Charlie Sewell
Two Omaha Events Move to Day Two
Event #300
WSOP officials added another Omaha event to the tournament schedule
yesterday. Event #300, a Pot-Limit Omaha with rebuys tournament, began
Monday (July 17) with 158 participants and is now down to 18. Professional
high stakes player Chau Giang leads the remaining players with 150,400
chips. Sherkhan Farnood is in second place with 112,000. The rest of the
field, which includes Eric Froehlich (bracelet winner in 2005) and Rafi Amit
(bracelet winner in 2005, four cashes and one final table in 2006 WSOP), has
less than 100,000 chips remaining.
Event # 25 $1,500 Pot Limit Omaha
Of the 506 players who entered Event # 25 on Monday (July 17) only 16
players remain. Rafael Perry, who finished 15th in the $50,000 Horse event
Saturday, has the most chips with 129,000.
Today's Event
Event #26, a $1,500 No-Limit Hold'em event, begins today (July 18) at noon.
According to live blogs, the Amazon Room of the Rio all Suites Hotel and
Casino is packed with players. Expect a large field in this event.
posted by Jerry "Jet" Whittaker at 5:47 AM
With half of the 2006 WSOP already in the books, Casino City reporters Aaron
Todd and Ryan McLane are ready to hand out their inaugural "Keys to the
City" Awards, this round for the best of the best in first-half WSOP
performances. As a leading provider of international poker news, Casino City
has been following the WSOP from our home office in Newton, MA and live from
the Amazon Room at the Rio All-Suites Hotel and Casino in Las Vegas. We have
closely monitored the action and are confident our selections represent the
best of the best in the 2006 WSOP, including The Male and Female Most
Outstanding Players as well as the Most Consistent Players. The awards take
into account all of the action up to and including WSOP Event # 24.Look for
Casino City's "Key to the City" awards again in August, immediately
following the conclusion of the 2006 WSOP Main Event.
Male MOP - William "Bling Bling" Chen -
(2 bracelets, $786,129, 2 FT, 5 Cashes)
Relatively out of nowhere, Bling Bling has taken the 2006 WSOP by storm,
capturing two gold bracelets and cashing in three more events. While one win
might be a fluke, two is the sign of a solid player and Chen looks like he
may be a force to reckon with in events and years to come. Known as a
mathematical wizard, Chen will have several more chances to tie Phil Ivey
and Ted Forrest for most bracelets in a single WSOP (3). Our WSOP first-half
Most Outstanding Player "Key to the City" Award goes to this Lafayette, PA
native.
Honorable Mentions
Chip Reese - (1 Bracelet, $1,784,640, 1 FT, 1 Cash)
Is arguably the best all-around-cash-game player in the world. Won the
largest mixed-game tournament in WSOP history, the $50,000 H.O.R.S.E event.
Jeff Madsen - (1 Bracelet, $758,500, 2 FT, 2 Cashes)
In his first WSOP, the 21-year old is making his appearances count, becoming
the youngest player in WSOP history to win a gold bracelet. Placed third in
his first WSOP final table.
Allen Cunningham - (1 Bracelet, $635,352, 1 FT, 3 Cashes)
The WSOP Player of the Year in 2005 won his fourth gold bracelet this year,
making him one of four players to win four before turning 30.
Female MOP - Claire Miller -
(1 Bracelet, $247,814, 1 FT, 1 Cash)
If you are a 61-year old grandmother and you defeat 1,184 of the world's top
senior poker players, you automatically get our vote for Female Most
Outstanding Player. Won the $1,000 Event #19 Seniors No-Limit Hold'em Event,
despite facing a final table that included Ron Rose and Jon "JV" Vorhaus,
both poker authors and formidable players.
Honorable Mentions
Mary Jones Meyer - (1 Bracelet, $236,094, 1 FT, 1 Cash)
Won the Ladies World Championship (Event # 15).
Isabelle "No Mercy" Mercier - (0 Bracelets, $177,678, 1 FT, 2 Cashes)
Finished fifth in the $5,000 WSOP Event # 9 No-Limit Hold'em tournament.
Most Consistent Player - William "Bling Bling" Chen -
Not surprisingly, Casino City's Most Outstanding player halfway through the
2006 WSOP is also our most consistent competitor. He's two for two at WSOP
final tables and has cashed in five tournaments, including 61st in Event #
2, which at the time (June 27th) was the second largest land-based poker
tournament ever played.
Honorable Mentions
Andy Bloch - (0 Bracelets, $1,112,707, 2 FT, 4 Cashes)
Narrowly missed winning the most exciting and grueling WSOP tournament in
history ($50,000 H.O.R.S.E Event #20). Has two final table appearances and
four cashes so far, plus he earned style points for taking a penalty to
ensure WSOP officials used unmarked cards during the opening rounds of the
H.O.R.S.E event.
Carlos Juan Mortensen - (0 Bracelets, $191,426, 2 FT, 4 Cashes)
He's so focused in the 2006 WSOP, he told tournament officials that he would
enter the $50,000 H.O.R.S.E tournament, even if he was playing the final
table of Event #17, which started after the H.O.R.S.E event began.
Phil Hellmuth Jr. - (0 Bracelets, $490,356, 2 FT, 4 Cashes)
Coming off a dismal 2005 WSOP, Hellmuth seems focused in 2006, trying to
claim his record-tying 10th gold bracelet. Of all the big names competing in
this year's series, he's played the best.
Phil Ivey - (0 Bracelets, $846,444, 2 FT, 3 Cashes)
A fan favorite, Ivey has not disappointed so far this year, finishing third
in the $50,000 H.O.R.S.E tournament and second to Sam Farha in Event #12.
John Hoang - (0 Bracelets, $255,822, 2 FT, 3 Cashes)
With little recorded WSOP history to speak of, Hoang has burst onto the WSOP
scene early in 2006, making two final tables including a second place.
posted by Jerry "Jet" Whittaker at 5:46 AM