Month Plainridge Park Casino Collects $18 Million in FirstPaleoMD
The Plainridge Park Casino had a very successful first month, bringing much more than $18 million in revenue.
Massachusetts may still have a ways to go before it turns into a casino gambling powerhouse, however their first entry into the industry is off up to a good start.
The Plainridge Park Casino, which features only electronic games, brought in $18.1 million in revenue during its first month of operations, though specialists cautioned that people numbers may decline a bit in the long run.
Critically, the profits mean that approximately $9 million will end up being created in income for state and local governments. That figure would put annual targets set by officials well within reach.
‘The commission is pleased that these figures suggest that Plainridge Park Casino is on track to quickly attain their targeted array of $86 million to $120 million annually in contribution to aid that is local’ stated Massachusetts Gaming Commission spokesperson Elaine Driscoll.
Revenues In Line With Projections
Officials had projected that the Plainridge location would generate about $200 million in revenue annually.
The figures through the month that is first exceed that target by about 9 percent.
‘We are pleased with the July performance, which can be consistent with expectations,’ Penn nationwide Gaming’s Eric Schippers told the Boston Herald. ‘It typically takes three to six months from the period that is grand-opening begin to comprehend market trends, and now we’ve only now started our marketing efforts in earnest.’
While that is cause for optimism, others have actually pointed out that there might be reason to think Plainridge’s long-lasting prospects are not quite so rosy.
Almost always there is the chance that the casino that is first the state is seen as a novelty, and additionally questions on how Plainridge will do once the larger resort casinos having a wider variety of offerings are opened in a few years.
‘ One would expect Plainridge to do well in the beginning, but whether that known levels off is likely to be the question,’ Boston university gaming expert Richard McGowan told the Herald. ‘ What they need to accomplish is build up some kind of loyalty to help keep individuals coming back after MGM’s Springfield casino and Wynn Resorts’ Everett casino open along with the bells and whistles.’
The $9 million that has been generated in tax revenue will go to city primarily and city governments throughout the state. In addition, about some of this money will support hawaii’s horse industry that is racing.
Casino Makes Payments to Town
The casino has currently started to gain the city of Plainville as well.
The other day, the casino signed over its first check that is monthly its host community, part of $2.7 million in annual costs that will go to the town.
The giant, ceremonial check was made out for $277,000; typically, the monthly re payments are for $225,000, but this first payment covered both the last week in June as well as the month of July.
Effect on Local sales Seen that are lottery
Meanwhile, the Massachusetts Lottery continues to be worried about the impact that is potential of casinos on its sales throughout the state.
In accordance with officials, there has already been a slight decrease in sales at areas that are within a 15-minute drive of the Plainridge Park Casino.
‘We are still seeing numbers that are strong retail agents such as convenience stores and gas stations that carry our products,’ stated Massachusetts Lottery Interim Executive Director Michael Sweeney. ‘Where we are seeing some early decreases in that zone are in more of your restaurant, bar, lounge-type of places.’
DraftKings to Expand into UK
Jeffrey Haas, the industry veteran that has been hired to oversee DraftKing’s International expansion. (Image: pokerstrategy.com)
Daily fantasy sports (DFS) site DraftKings announced this week it’s received a permit from the UK Gambling Commission (UKGC) and intends to go live with A uk-facing dfs product in the fourth quarter of the year.
Last month, the Boston-based start-up had been able to raise almost $300 million in funds to aid its planned worldwide expansion, with around $150 million of this originating from Fox Sports, for an 11 per cent stake in the company.
DraftKings said so it plans to move into European countries, Asia, and Latin America during 2016, and has employed Jeffrey Haas, previously of PokerStars and bwin.party, to oversee the expansion.
‘DraftKings is well-poised for explosive development internationally, and we am excited to lead their expansion efforts,’ stated Haas, who’ll be based in the London that is new workplace. ‘Daily Fantasy Sports is a category that is growing North America, and we have tremendous opportunity to engage recreations fans all over the world.’
New Concept for Brits
The move into the UK is an appealing one.
The DFS concept will be a completely new one there while the country has one of the most developed gambling markets in the world.
DFS allows customers to bet on teams or recreations players throughout a given day, earning points on the basis of the performance of their picks. Users with probably the most points at the end of the day cash out.
This is a different prospect to regular fantasy sports, which offers games that generally last a whole season.
They are currently popular within the UK, particularly fantasy EPL soccer, although few of the major British gambling operators provide them for money.
DraftKings already provides Daily Fantasy Soccer, and will no doubt hone this item for the united kingdom market, along with introducing more sports that are UK-centric such as for instance rugby and cricket.
‘ We will add new activities and games to our burgeoning roster of offerings and connect that is further to their favorite teams and players,’ confirmed DraftKings Chief Executive Officer Jason Robins. ‘We also welcome the opportunity to forge new partnerships with leagues, teams and news outlets internationally even as we did with exceptional success in the usa.’
Will the UK Bite?
Whether DFS will have the kind that is same of impact as it has been doing within the US, in a market where consumers are free to bet on real-life sporting results, remains to be seen.
For a lot of Americans, DFS could be the closest they get to placing a sports that are legal, while for the British, who is able to place bets from their cell-phones at the touch of a button whenever you want of the time or night, it will likely be simply another gambling item, albeit a highly engaging one.
What’s clear is that while DFS operators within the US argue that their items are ‘not gambling,’ hence justifying their exemption from UIGEA, into the UK, and most likely somewhere else, there was no equivocation, and a complete gambling license is required.
Borgata Responds to Ivey Countersuit
The Borgata has filed a reaction to Phil Ivey’s countersuit within the ongoing drama that is legal his 2012 baccarat wins during the casino. (Image: Las Vegas Review-Journal)
The Borgata Hotel Casino & Spa in Atlantic City has responded to a countersuit filed by professional poker player Phil Ivey, saying that their destruction of cards utilized in his controversial baccarat sessions were destroyed before the casino became aware that such a thing suspicious may have taken place on those times.
The response comes after lawyers for Ivey and Cheng Yin Sun filed the countersuit alleging that the Borgata had intentionally destroyed the cards so that you can undermine his defense.
The dispute has ended four sessions that took place at the Borgata over the course of almost a year in 2012.
Ivey and Sun played baccarat in A vip that is private area winning a total of $9.6 million from the casino through the visits.
Borgata Becomes Suspicious After Crockfords Incident
The Borgata paid Ivey their winnings without incident.
But when Crockfords, a casino in London, refused to pay for Ivey after he similarly won millions playing baccarat using them, the Borgata took notice and sued Ivey so as to recover their losses.
In both instances, the dispute is over Ivey’s use of a technique referred to as edge-sorting, one that is either an advantage play or a form of cheating, according to whom you ask.
Interestingly, the known facts in these cases are hardly in dispute by either side; it is definitely a matter of exactly how those things of the casino and Ivey must certanly be interpreted.
In https://real-money-casino.club/club-player-online-casino/ the baccarat sessions, Ivey and Sun asked the casino to utilize a very set that is specific of cards manufactured by Gemaco. In addition they asked for that the games be played with a automatic shuffler.
The casinos consented to these conditions, and were likewise compliant when Ivey asked dealers to show the high cards in the shoe 180 degrees, fundamentally for superstitious reasons.
Whatever they didn’t realize was that the Gemaco cards under consideration were imperfectly cut, allowing Ivey to identify which cards had been turned while looking at them face down.
Knowing whether specific cards were high or low was enough to give Ivey a significant advantage over the casino. In a single particularly successful session in July 2012, Ivey won $4.8 million through the Borgata within the course of 17 hours.
Countersuit Alleges Deliberate Destruction of Proof
After the Borgata sued Ivey and Sun, the defendants filed a countersuit, stating that the instance ought to be dismissed due to the fact that the casino had destroyed the cards found in the games. They also sought fees that are legal damages under laws associated with the filing of frivolous lawsuits.
But within their response, the Borgata says that the cards were destroyed as a matter of due program, which took place before there was clearly any dispute over the baccarat winnings.
‘Some of the cards utilized within the play at issue in this instance were damaged in the regular span of plaintiff’s business operations, prior to plaintiff’s becoming aware of defendants’ scheme and the defect in the playing cards, and pursuant to applicable regulations,’ the response read.
Lawyers for the Borgata also say that Ivey and Sun cannot recover damages because of the ‘fraudulent conduct,’ and say that the statute of limitations has expired on the allegations the defendants are making.
Ivey can be tangled up in a similar lawsuit against Crockfords, in which he sued the casino in an attempt to force them to pay him their winnings. While courts initially ruled and only the casino, an appeal is expected to be heard later this year.