
Massachusetts State Attorney General Martha Coakley opposed the repeal question, but says she welcomes allowing the voters to have a voice regarding the problem. (Image: Boston Globe)
In Massachusetts, casino companies have actually faced a number of battles to be able to build resorts in the state. There have been town-by-town campaigns to win over local communities, plus in the situation of the higher Boston area, a competition that is fierce just one single license. Now, operators will need an additional challenge ahead of those before they can rest easy: a statewide repeal vote that could end casino gambling in Massachusetts before it starts.
The Massachusetts Supreme Judicial Court ruled that voters will be able to see the casino law repeal question on a November ballot, potentially rolling back a 2011 law that legalized casinos in the state tuesday. That move leaves potential casino operators in an awkward position, as they may get licenses, but not know until later on this 12 months whether they can actually do such a thing with them.
Unanimous Decision Sets Matter on Ballot
The court reached their decision unanimously, pointing out that supporters of the repeal had succeeded in gathering more than enough signatures to place the question on the ballot. The work was in fact compared by Massachusetts Attorney General Martha Coakley, now a Democratic candidate for governor, whom rejected issue a year ago because she feared it could break the home rights of casino owners and developers.
But after hearing of the choice, Coakley showed up become fine with the Supreme Judicial Court’s (SJC) decision.
‘i am pleased that the Supreme Judicial Court has ruled on this presssing issue of great interest to voters in Massachusetts,’ Coakley said. ‘ I am pleased they have made a determination that now lets this go to the ballot. So we are working these days to certify the concern.’
Coakley did add that she planned to vote contrary to the proposition, as did Governor Deval Patrick.
‘It is what it is,’ Patrick said. ‘I’m going to vote for keeping expanded video gaming on the books. We think it’s a great balance between how we expand gaming and exactly how we let our neighborhood communities make decisions which can be right for them.’
Fierce Battle Expected
Polling regarding the presssing issue is sparse so far. A Suffolk University poll earlier this found that only 37 percent of voters in Massachusetts approved of casinos, but another from the Boston Globe found that 52 percent of likely voters would still vote against a repeal month. The shaky ground on which the casinos stands means that the repeal vote could drop to the campaigns on both sides.
While not all casino firms commented on the decision instantly, those who did stated that they would work hard to convince voters to let the gambling enterprises be built. Mohegan Sun released a declaration saying that they would show voters that the law was ‘good for employees, good for the economy and good for the commonwealth.’ Penn National, which has currently won the state’s only slots parlor license, stated they would be engaging in a campaign that is informational.
‘For us, this campaign will be about education, it’ll be about informing voters about most of the jobs that are in stake here,’ said Penn spokesperson Eric Schippers.
Meanwhile, casino opponents will also be gearing up for a battle. That may mean that numerous regional anti-casino groups is banded together to combat the costly promotions the casinos are expected to run, with Repeal the Deal probably be an opposition group that is leading.
Bwin.Party Not on the market, Says Board
Chief executive of bwin.party Norbert Teufelberger and his board deny rumors that the company is searching for a sell-off (Image: onlinecasinoarchives.com)
Bwin.Party is rumors that are denying it is searching for an acquisition, or to offer off some of its assets. The business was the subject of a flurry of speculation after articles this week by Bloomberg which claimed it was looking to sell off all or component of its business in order to revive its flagging fortunes.
Bwin.Party, through its relationship with the Borgata, may be the provider that is largest of online poker in brand New Jersey, with over 40 percent of the market share, but its operations have been faltering in Europe recently. The author of the Bloomberg piece, Christopher Palmeri, said that he had received the information from ‘two people with knowledge for the matter’ who wished to stay nameless. Bwin.Party had hired Deutsche Bank AG (DBK) to think about its options, claimed the sources, and would make a decision within two months.
While Bwin.Party’s shares, which was decreasing of late, climbed by 4 percent on the London Stock Exchange in the wake of this rumors, the company itself waded in to quash the rumors, stating categorically that the business is not for sale.
No Plans to Sell
‘The Board of Bwin.Party has noted the speculation that is recent the media regarding a possible break-up or purchase regarding the company,’ read the company’s official statement. ‘Since their visit as Chairman last month, Philip Yea has been dealing with the executive management team on ways in which the Group increases shareholder value, nevertheless we can verify that there are no plans to break-up or sell the business.’
Palmeri speculated into the Bloomberg article that the supposed sell-off had been prompted with a difficult 2013, which saw revenue across all gambling operations tumble 19 percent to €652.4m ($887,971,854).
He quoted a meeting with Bwin Chief Financial Officer Martin Weigold in March in which Weigold had blamed ‘regulatory and competitive challenges in lots of markets’ for a slump in income, and added that the company had been looking to ‘divest non-core and surplus assets.’
Palmeri also wondered or perhaps a sale of PokerStars to Amaya Gaming and its return that is potential to US market had rattled Bwin.Party. PokerStars, he wrote, ‘could accelerate the wobbly start for online betting in three states, while introducing more competition for Bwin and others for the people gamblers.’
2013 A Turning Point
However, Bwin.Party, it self the product of a merger between pioneering online sportsbook and poker web sites Bwin and Party Poker, correspondingly, recently said that it had been very pleased with its poker operations in brand new Jersey, and that it is looking to consolidate its market-leading position in there throughout the next year, as well as getting into other states that might legalize online gambling within their borders, such as for example Pennsylvania which it described as a ‘significant business opportunity.’
Talking in reaction to your company’s disappointing 2013, leader Norbert Teufelberger was recently upbeat: ‘2013 had been a challenging year for our business, but inaddition it marked a switching point he said as we increased our focus on regulated and to-be-regulated markets, began to roll-out new and refreshed versions of our mobile and desktop products, and commenced the transformation of our technology infrastructure through the adoption of the Agile development methodology. ‘Having streamlined the design and size of our business we’ve the fundamentals to go back our company to sustainable growth.’
PokerStars Could Return to Brand New Jersey Marketplace by Fall
Founders Mark and Isai Scheinberg, whose reduction from the PokerStars equation might facilitate an entrance to the New Jersey market. (Image: onlinpokerreport.com)
PokerStars’ carefully orchestrated sale to Amaya Gaming for $4.9 billion looks like it might well repay for the planet’s biggest poker website. The ink was still running listed below on that $4.9 billion agreement when New Jersey gaming officials announced that they had met with representatives from Amaya, and this week they told the Associated Press that they certainly were optimistic that PokerStars might be able to become listed on the New Jersey market because early as this fall.
Documents in the Loop
Officials from the latest Jersey Division of Gaming Enforcement (DGE), which regulates and licenses gambling in hawaii, said that Amaya has recently begun submitting the necessary documents to nj-new Jersey regulators to utilize for a situation license.
Into the coming months, the division are going to be scrutinizing the post-acquisition corporate framework of the business, along with the executive and management personnel and also the computer software platform it self to create sure it is consistent with New Jersey regulatory standards.
PokerStars has long held designs on the New Jersey market. The Rational Group, attempted to buy the ailing Atlantic Club casino in Atlantic City, in order to secure the acquisition of a state gaming license, and from there, it hoped, a license to operate online poker after regulation in 2013, anticipating legalization and regulation in the state, its parent company. However, the deal dropped through, and almost a year later the Atlantic Club was forced to file for bankruptcy and lay down its 1,600 staff. It was offered in December for $23.4 million, to be stripped for parts.
Federal Indictments
The reason why offered for the deal’s collapse had been the concerns over outstanding indictments that are federal the company’s father-son founders, Isai and Mark Scheinberg. The indictments regarding PokerStars’ failure to cease providing gambling to americans after the Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006 had made it illegal to take action. After Black Friday, PokerStars paid a $547 million fine to the Department of Justice, which it hoped would absolve the Scheinbergs, but the issue flared up once again when PokerStars attempted to use for a permit in the run up to legalization.
On December 11, 2013, New Jersey’s Division of Gaming Enforcement (DGE) announced it would suspend its report on ‘Stars online gaming license for 2 years. The DGE said in a statement that may have inspired the acquisition strategy
‘The Division (within the period that is two-year may think about a ask for relief to reactivate the application if significantly changed circumstances are demonstrated…the Division’s investigation of PokerStars and its affiliated entities and linked individuals will likely be resumed to assess suitability.’
Resorts Deal
Having removed themselves from the equation by selling to Amaya, the Scheinbergs may at last witness the company they built go back to the US.
However, at least within the full case of New Jersey, it are going to be as a software provider, not an operator, much in the manner that 888 Holdings provides software to Caesars and the WSOP.com brand. PokerStars includes a deal in position with Resorts World, which owns the Resorts Casino Hotel in Atlantic City. That relationship will remain intact, despite the purchase, and Resorts has said it intends to use both the PokerStars and FullTilt brand names should the outfit be given the ability to accomplish so.
‘We welcomed the current announcement by Amaya Gaming Group, Inc of its plans to obtain Rational which we expect will move the regulatory approval process ahead,’ said Resorts Casino Hotel owner Morris Bailey. ‘PokerStars is the leading world-wide brand in online gaming and now we want forward to our future using them in New Jersey.’
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