
The Plainridge Park Casino had a very successful first month, bringing much more than $18 million in revenue.
Massachusetts may still have a methods to go before it becomes a casino gambling powerhouse, but their very first entry into the industry is off to a start that is good.
The Plainridge Park Casino, which features only electronic games, brought in $18.1 million in revenue during its month that is first of, though professionals cautioned that people numbers may decline a bit with time.
Critically, the revenues mean that approximately $9 million can become being created in income for state and local governments. That figure would put targets that are annual by officials well within reach.
‘The commission is happy that these figures indicate that Plainridge Park Casino is on track to accomplish their targeted range of $86 million to $120 million annually in contribution to local https://real-money-casino.club/club-player-online-casino/ aid,’ stated Massachusetts Gaming Commission representative 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 very first month would go beyond that target by about 9 percent.
‘We are pleased with the July performance, which is in accordance with expectations,’ Penn nationwide Gaming’s Eric Schippers told the Boston Herald. ‘It typically takes three to six months from the grand-opening period to begin to know market trends, and we’ve only now started our marketing efforts in earnest.’
While that is cause for optimism, others have remarked that there might be reason to think Plainridge’s long-term prospects aren’t quite so rosy.
Almost always there is the possibility that the casino that is first the state sometimes appears as a novelty, and there are questions about how precisely Plainridge will do when the larger resort casinos with a wider variety of offerings are opened in many years.
‘ One would expect Plainridge to do well in the beginning, but whether that known levels off is going to be the question,’ Boston College gaming expert Richard McGowan told the Herald. ‘ whatever they need to accomplish is build up some kind of loyalty to keep people coming back after MGM’s Springfield casino and Wynn Resorts’ Everett casino open along with the bells and whistles.’
The $9 million that was generated in tax revenue will go to city primarily and city governments through the entire state. In addition, about some of that money will support their state’s horse industry that is racing.
Casino Makes Payments to Town
The casino has currently started initially to benefit the town of Plainville as well.
Last week, the casino signed over its first monthly check to 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 month-to-month re payments are for $225,000, but this first payment covered both the final week in June plus the month of July.
Impact on Local Lottery Sales Seen
Meanwhile, the Massachusetts Lottery continues to be concerned about the impact that is potential of casinos on its sales throughout the state.
In accordance with officials, there has been a slight decrease in sales at locations that are within a 15-minute drive of the Plainridge Park Casino.
‘we have been still seeing strong figures at retail agents such as convenience stores and filling stations that carry our products,’ stated Massachusetts Lottery Interim Executive Director Michael Sweeney. ‘Where we’re 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 who has been hired to oversee DraftKing’s worldwide expansion. (Image: pokerstrategy.com)
Daily fantasy sports (DFS) site DraftKings announced this week this has received a license from the UK Gambling Commission (UKGC) and intends to go live with A uk-facing dfs product in the fourth quarter of the season.
Last month, the start-up that is boston-based able to raise almost $300 million in funds to aid its planned international expansion, with around $150 million of that originating from Fox Sports, for an 11 percent stake in the company.
DraftKings stated that it plans to move into European countries, Asia, and Latin America during 2016, and has hired Jeffrey Haas, formerly of PokerStars and bwin.party, to oversee the expansion.
‘DraftKings is well-poised for explosive growth internationally, and we am excited to lead their expansion efforts,’ said Haas, who will be based in the London that is new office. ‘Daily Fantasy Sports is a category that is growing North America, and now we have a tremendous possibility to engage activities fans across 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 during a given day, earning points based on the performance of their picks. Users with the absolute most points at the end of the day money out.
This is a various prospect to regular fantasy activities, which offers games that generally last a whole period.
These are already popular within the UK, particularly fantasy EPL soccer, although few of the major UK gambling operators offer them for money.
DraftKings already provides constant Fantasy Soccer, and will no question hone this product for the united kingdom market, as well as introducing more sports that are UK-centric such as for instance rugby and cricket.
‘ We will add new sports and games to our burgeoning roster of offerings and further connect fans to their favorite teams and players,’ confirmed DraftKings leader Officer Jason Robins. ‘We also welcome the opportunity to forge new partnerships with leagues, teams and news outlets internationally as we have done with exemplary success in the usa.’
Will the UK Bite?
Whether DFS will have the kind that is same of impact as it did in the US, in a market where ındividuals are free to bet on real-life sporting results, stays become seen.
For all Americans, DFS is the closest they get to placing a sports that are legal, while for the British, who are able to place bets from their cell-phones at the touch of a button at any time of this time or night, it’ll be just another gambling product, albeit a highly engaging one.
Just What’s clear is that while DFS operators within the US argue that their items are ‘not gambling,’ therefore justifying their exemption from UIGEA, in the UK, and probably somewhere else, there was no equivocation, and a full 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 at the casino. (Image: Nevada Review-Journal)
The Borgata Hotel Casino & Spa in Atlantic City has taken care of immediately a countersuit filed by professional poker player Phil Ivey, saying that their destruction of cards used in his controversial baccarat sessions were damaged before the casino became aware that anything suspicious may have occurred on those dates.
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 length of several months in 2012.
Ivey and Sun played baccarat in A vip that is private area winning a total of $9.6 million from the casino during the visits.
Borgata Becomes Suspicious After Crockfords Incident
The Borgata paid Ivey his winnings without incident.
But when Crockfords, a casino in London, refused to pay Ivey after he similarly won millions playing baccarat with them, the Borgata took notice and sued Ivey so as to recover their losses.
In both cases, the dispute is over Ivey’s use of a method referred to as edge-sorting, one that is either an advantage play or perhaps a form of cheating, dependent on who you ask.
Interestingly, the known facts in these instances are hardly in dispute by either side; it is definitely a matter of how the actions of the casino and Ivey must certanly be interpreted.
In the baccarat sessions, Ivey and Sun asked the casino to utilize an extremely particular set of playing cards manufactured by Gemaco. They also requested that the games be played with a automated shuffler.
The casinos agreed to these conditions, and were similarly compliant when Ivey asked dealers to make the cards that are high the shoe 180 levels, fundamentally for superstitious reasons.
Whatever they don’t realize was that the Gemaco cards in question were imperfectly cut, allowing Ivey to recognize which cards have been turned while looking at them face down.
Knowing whether individual cards were high or low ended up being enough to give Ivey an advantage that is substantial the casino. In one single session that is particularly successful July 2012, Ivey won $4.8 million from the Borgata on the program of 17 hours.
Countersuit Alleges Deliberate Destruction of Evidence
After the Borgata sued Ivey and Sun, the defendants filed a countersuit, stating that the instance must certanly be dismissed simply because that the casino had destroyed the cards used in the games. They also sought legal fees and damages under laws and regulations related to the filing of frivolous lawsuits.
But inside their response, the Borgata says that the cards were destroyed as a matter of due program, which happened before there clearly was any dispute on the baccarat winnings.
‘Some of the cards used into the play at issue in cases like this were damaged in the course that is regular of’s business operations, prior to plaintiff’s becoming conscious of defendants’ scheme and the defect in the playing cards, and pursuant to applicable regulations,’ the response read.
Lawyers for the Borgata also state that Ivey and Sun cannot recover damages because of their ‘fraudulent conduct,’ and say that the statute of limitations has expired in the allegations the defendants are making.
Ivey can also be tangled up in a lawsuit that is similar Crockfords, in which he sued the casino in an effort to force them to pay him his winnings. While courts initially ruled and only the casino, an appeal is expected to be heard later this year.
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