Massachusetts State Attorney General Martha Coakley opposed the repeal question, but says she welcomes allowing the voters to really have a voice on the issue. (Image: Boston Globe)
In Massachusetts, casino companies have actually faced a number of battles to be able to build resorts in the state. There has been town-by-town campaigns to win over local communities, and in the truth of the more Boston area, a tough competition for just one single license. Now, operators are going to have one more challenge ahead of those before they can sleep effortless: a statewide repeal vote that could end casino gambling in Massachusetts before it starts.
The Massachusetts Supreme Judicial Court ruled Tuesday that voters will be able to see the casino law repeal question for a November ballot, possibly rolling straight back a 2011 law that legalized casinos in the state. That move leaves potential casino operators in an awkward position, whether they can actually do anything with them as they may receive licenses, but not know until later this year.
Unanimous Decision Sets Matter on Ballot
The court reached their decision unanimously, pointing out that supporters of the repeal had succeeded in collecting more than enough signatures to place the question on the ballot. The work had been compared by Massachusetts Attorney General Martha Coakley, now a Democratic candidate for governor, whom rejected the question this past year it could violate the property rights of casino owners and developers because she feared.
But after hearing of the choice, Coakley appeared become fine using the Supreme Judicial Court’s (SJC) decision.
‘we am pleased that the Supreme Judicial Court has ruled on this issue of great interest to voters in Massachusetts,’ Coakley said. ‘ I am pleased that they have made a choice that now lets this go right to the ballot. And now we are working as we speak to certify the relevant concern.’
Coakley did include that she planned to vote from the proposition, as did Governor Deval Patrick.
‘It is really what it is,’ Patrick said. ‘I’m going to vote for keeping expanded gaming on the books. I think it’s a balance that is great exactly how we expand gaming and how we let our regional communities make decisions which are suitable 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 ground that is shaky which the casinos appears means that the repeal vote could come down to the campaigns on both sides.
While not all casino firms commented regarding the decision immediately, those who did stated that they would work hard to convince voters to allow gambling enterprises be built. Mohegan Sun released a declaration saying that they would reveal to voters that the statutory law was ‘good for employees, good for the economy and good for the commonwealth.’ Penn National, which has already won the state’s only slots parlor permit, said they would be doing a campaign that is informational.
‘it will be about informing voters about all the jobs that are at stake here,’ said Penn spokesperson Eric Schippers for us, this campaign will be about education.
Meanwhile, casino opponents are also gearing up for a battle. That may mean that numerous local anti-casino teams will be banded together to combat the expensive campaigns 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 buying sell-off (Image: onlinecasinoarchives.com)
Bwin.Party is rumors that are denying it is looking for an purchase, or to offer off a number of its assets. The company is the main topic of a flurry of speculation after articles this by Bloomberg which claimed that it was looking to sell off all or part of its business in order to revive its flagging fortunes week.
Bwin.Party, through its relationship with the Borgata, may be the largest provider of online poker in New Jersey, with over 40 percent of the market share, but its operations have been faltering in European countries recently. The writer of the Bloomberg piece, Christopher Palmeri, said that he had received the information from ‘two individuals with knowledge regarding the matter’ whom wished to keep nameless. Bwin.Party had hired Deutsche Bank AG (DBK) to consider its options, claimed the sources, and would make a decision within two months.
While Bwin.Party’s shares, which was indeed declining of late, climbed by 4 percent on the London stock market in the wake for the rumors, the business itself waded in to quash the rumors, stating categorically that the company is not for sale.
No Plans to offer
‘The Board of Bwin.Party has noted the speculation that is recent the media regarding a possible break-up or purchase for the company,’ read the business’s official statement. ‘Since their appointment as Chairman month that is last Philip Yea has been working with the executive management team on ways in which the Group can increase shareholder value, however we can verify that we now have no plans to break-up or sell the company.’
Palmeri speculated in the Bloomberg article that the supposed sell-off had been prompted by 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 business had been searching to ‘divest non-core and surplus assets.’
Palmeri also wondered or perhaps a sale of PokerStars to Amaya Gaming and its possible return to the 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 among others for anyone gamblers.’
2013 A Turning Point
However, Bwin.Party, it self the item of a merger between pioneering online sportsbook and poker internet sites Bwin and Party Poker, correspondingly, recently said that it would be seeking to consolidate its market-leading position in here throughout the next 12 months, along with moving into other states that might legalize online gambling within their borders, such as Pennsylvania which it called a ‘significant business opportunity. it had been very pleased about its poker operations in New Jersey, and’
Speaking in reaction towards the company’s disappointing 2013, chief executive Norbert Teufelberger had been recently positive: ‘2013 had been a challenging year for our business, but it also marked a turning point as we increased our give attention to regulated and to-be-regulated markets, begun to roll-out brand new and refreshed versions of our mobile and desktop services and products, and commenced the change of our technology infrastructure through the adoption of the Agile development methodology,’ he stated. ‘Having streamlined the form and size of our business we’ve the foundations to return our business to sustainable growth.’
PokerStars Could Come Back to Brand New Jersey Market by Fall
Founders Mark and Isai Scheinberg, whose reduction from the PokerStars equation may facilitate an entry 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 world’s poker site that is biggest. The ink was nevertheless running listed below on that $4.9 billion agreement when brand New Jersey gaming officials announced that they had met with representatives from Amaya, and this week they told the Associated Press that these people were optimistic that PokerStars could be able to participate the New Jersey market because early as this fall.
Papers in the Loop
Officials from the brand new Jersey Division of Gaming Enforcement (DGE), which regulates and licenses gambling in the state, said that Amaya has begun submitting the documents that are necessary nj-new Jersey regulators to apply for circumstances license.
The division will be scrutinizing the post-acquisition corporate structure of the company, as well as the executive and management personnel and the software platform itself to make sure it’s in line with New Jersey regulatory standards in the coming months.
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 fell through, and almost a year later on the Atlantic Club was forced to file for bankruptcy and lay down its 1,600 staff. It was sold in December for $23.4 million, to be stripped for parts.
The main reason offered for the deal’s collapse had been the concerns over outstanding indictments that are federal the business’s father-son founders, Isai and Mark Scheinberg. The indictments associated with 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 more when PokerStars attempted to use for a license within the run up to legalization.
On 11, 2013, New Jersey’s Division of Gaming Enforcement (DGE) announced it would suspend its review of ‘Stars online gaming license for two years december. In a declaration that may have inspired the acquisition strategy, the DGE said:
‘The Division (within the two-year duration) may look at 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 be resumed to assess suitability.’
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 into the instance of New Jersey, it is going to be as a software provider, not an operator, much in the way that 888 Holdings provides software to Caesars and the WSOP.com brand. PokerStars features 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 make use of both the PokerStars and FullTilt brand names should the outfit be given the chance to complete so.
‘We welcomed the announcement that is recent Amaya Gaming Group, Inc of its plans to obtain Rational which we expect will move the regulatory approval procedure forward,’ said Resorts Casino Hotel owner Morris Bailey. ‘PokerStars may be the leading world-wide brand in on the web gaming and we searching for forward to our future using them in brand new Jersey.’