A reinterpretation associated with the statutory law by the DoJ could open the entranceway for PokerStars to enter the New Jersey market at last.
Just when you can’t possibly become anymore cynical about how precisely justice is meted out on the planet, a new boomerang gets tossed that hits you square in your head. Such is the latest in the U.S. Department of Justice’s capability to bend, turn, mutate and basically rewrite what the law states when they can potentially squeeze some more cash out of it to enhance their coffers.
Needless to say, we would never ever imply any backhanded discounts are happening, but you can arrive at your very own conclusions on this one.
Justice 2.0
Unnamed sources are rumored to have admitted that the DoJ is suddenly open to an interpretation that is new of law, one which basically lets non-American citizens and any businesses they may be involved with off the hook with any criminal fees. Term is the federal justice agency encourage corporate fines which we’re pretty sure won’t be chump change in addition to pleas that could kill any pending fees, as long as those companies have no U.S. physical presence whatsoever.
Is not it just so convenient that this takes place to encompass the exact situation that allows PokerStars until now saddled with the dreaded ‘bad actor’ designation that has kept the main on the web site out of the running in both Nevada and New Jersey to return in to the Internet game in the U.S. poker scene. Items that make you go hmmmmm.
Waiting to Exhale
PokerStars has been most anxious to benefit from New Jersey’s 9 million+ population base (Nevada’s base is just a much smaller under 3 million); and this could be simply the ticket to make that happen. In fact, some news sources are reporting that this will directly impact Isai Scheinberg, Pokerstars creator, with resolution expected this 12 months; a move that would then allow PokerStars to enter the U.S. internet poker market at last. Scheinberg’s Black Friday 2011 indictment is a huge major obstacle until recently to making that a real possibility.
With New Jersey’s online market up and operating since belated November 2013 and with major poker-only internet sites for Borgata (with partner PartyPoker) and Caesars WSOP-brand already zooming out in front of the competition no question, PokerStars would like to reestablish its brand existence before these are typically left within the dust. The company also has to match competitor PartyPoker, which just recently broke new advertising ground having a first-time-ever pro sports alliance with both the NHL’s New Jersey Devils and the NFL’s Philadelphia 76ers. And PokerStars Friday that is pre-Black brand so powerful between America’s shores, the company could well and may very well jump quickly towards the front of the line once again if given a comeback kid’s opportunity at it.
Good thing PokerStars’ non-American market has kept the company’s pockets lined in gold; a 2012 DoJ settlement with the department price PokerStars an awesome $547 million (paid away over three years) to dominate competitor complete Tilt’s defaulted accounts and acquire players on both sides of the world paid up. And that’s not really considering Stars’ $15 million that is now gone with the wind; money placed into the Atlantic that is now-defunct Club a sort of ‘good faith’ deposit on what the company thought could be their purchase of that establishment. Plus millions that are going towards potential online partner Resorts Atlantic City, so that when the smoke clears, Stars is willing to roll online as soon as possible in New Jersey.
The Internet poker company has spent so out-of-pocket that is much in reality, that some might wonder if it also makes sense to come back to the American market as of this point. But PokerStars knows its good behavior post-UIGEA will constantly stick in American players’ minds as a positive credit, and obviously they see a revenue potential even after kicking back, um, we mean spending off ‘fines’ to the Department of Justice for another shot.
Bitcoins Go Legit for Nongaming Product Sales in Two Las Vegas Hotels
Two Las Vegas downtown hotels are allowing Bitcoins to be used for nongaming acquisitions for the time that is first.
One thing you’ll state definitively about the cryptocurrency understood as Bitcoins: they know how to stay in the headlines. The past month) or alleged affiliations with darknet sites like illicit-trade site Silk Road, Bitcoins are definitely front-of-mind for many people; gamblers in particular whether its the digital currency’s fluctuating exchange rate (which has mostly been somewhere inside the $900+ mark.
So possibly it shouldn’t surprise us that the currency that is normally connected with illegal and usually untraceable activities, is now going in to the marketplace that is legit via acceptance for nongaming deals at two major downtown Las vegas, nevada hotels, starting earlier this week.
Downtown Hotels to just Accept Bitcoins
It is definitely a novel concept, but D Hotel and Casino owner and Golden Gate CEO Derek Stevens is not merely one to be frightened of the unknown. The two hotels are actually breaking ground by accepting Bitcoins in real-life nongaming scenarios. And just what better way to start than with some dog that is hot at the D’s US Coney Island restaurant; apparently a couple of Bitcoin transactions hit for the weiners right out associated with gate.
‘ There is a lot more excitement around the idea than we first thought,’ noted Stevens, adding, ‘I’m not necessarily sure how this can evolve.’ The hotelier says he’s been considering the Bitcoin selection for the year that is past a half prior to making the plunge. Apparently customers also nudged him about the possibility in some places.
Certainly, it’s a groundbreaking move; the 2 downtown properties will be Sin City’s first-ever to just take Bitcoins for any kind of transactions whatsoever. Both hotel casinos will require the cryptocurrency for room charges et al at their respective front desks, therefore the D will also accept it at its gift store, the American that is aforementioned Coney restaurant, and also at Joe Vicari’s Andiamo Italian Steakhouse, on the hotel casino’s property.
Tech Investment
The cryptocurrency will be accepted via tablets programmed with Bitpay which will be located at various cashier outlets; users with mobile wallets can thus effortlessly move the funds as needed. Stevens says he had to make the investment into that technology in order to allow for Bitcoin processing; he decided it was worth the risk for the initial and edge that is distinguishing provided him over competitors.
‘We’re situated in the growing high-tech sector of downtown vegas, and as with any things downtown, we’re quickly adaptive to brand new technology,’ said Stevens. ‘The timing is right for us to launch this initiative, and I’m delighted in order to offer this to our customers.
‘I think 2014 is certainly going to be an interesting 12 months for Bitcoin,’ Stevens included. ‘There are certainly a number of companies just starting to accept the currency. We do need a complete lot more direction from the IRS therefore the U.S. Treasury.’
That final comment is most likely a major obstacle to Bitcoins being accepted for gaming transactions quite yet; that, and the proven fact that Nevada state regulators haven’t sanctioned the re payment method yet. And do not expect that to take place any time soon, either; Nevada’s Gaming Control Board Chairman A.G. Burnett says the subject has not even been broached between the commissioners and any casino proprietors.
‘So far, we’ve not allowed it,’ Burnett noted.
And Stevens has no nagging problem with that for now.
‘I think it’s too soon with the technology. We need a much more information,’ he said.
For now, in accordance with Stevens, his two properties will track all point-of-purchase sales made out of Bitcoins; as with a forex, those transactions will have to be converted to US bucks, and Nevada’s state coffers will get their normal cut too via sales and room taxes. That information will be passed on then to your state’s regulators for review and consideration.
Nevada Gaming Control Board Joins Olympic Committee to Fight Bet Scams
The Nevada Gaming Control Board is joining utilizing the Olympic Committee to combat scams that are betting this present year’s occasions
The issues of match fixing, point shaving and recently, even courtsiding, have all put problematic issues that are betting sports in the news a lot lately. And of course myfreepokies.com, there’s nothing more front-of-mind in terms of sports compared to the upcoming XXII Winter Olympic Games in Sochi, Russia that will run from February 7 -23, beginning in just a couple months.
Nevada Regulators to greatly Help IOC
And of course, no one knows more about recreations wagering than Nevada, the state that is only sports betting is formally appropriate into the U.S. With that at heart, the Silver State’s Gaming Control Board (GCB) has agreed to do business with the International Olympic Committee (IOC), with the goal for both bodies to uncover any possible improprieties that might surface in the Winter Games tournaments. The two groups that are key they are going to share information so that you can keep up with the integrity of all of the sports involved.
Ironically, Las Vegas sports books will never be able to accept any bets regarding the games that are olympic, but the master plan is apparently to keep close track of both illegal and overseas books for any signs of game manipulation.
‘Nevada is considered through the world as the gold standard in gaming regulation and component of that reputation is tied to the board’s tireless efforts to thwart illegal and irregular betting generally speaking and we are happy to put forth that same level of effort in eradicating illegal and irregular gambling in recreations especially,’ said GCB member Shawn Reid. ‘ The Gaming Control Board is honored to be considered a partner utilizing the International Olympic Committee in the battle against irregular and illegal gambling in recreations.’
This matchup follows a youthful agreement that has been finalized in London, before the 2012 Summer Olympics for the reason that city. Information given by Nevada regulators and sports books will be used in the IOC’s newly dubbed Integrity Betting Intelligence System (IBIS), based on IOC communications director Mark Adams.
Old Problems, New Games
the two organizations is going to be watching are certainly nothing new; sports books have actually been pivotal in the past in unravelling schemes that are point-shaving both college and pro-basketball games for the NCAA and NBA. The books watch especially for irregular betting patterns to help them zero in on potential dilemmas.
The Nevada Board’s enforcement chief Karl Bennison says the GCB has plenty of expertise in these things, having formerly worked with Major League Baseball, also the NFL; this is the Board’s first year assisting the Olympic Games with your issues, however. And Bennison knows that almost such a thing could emerge having a little digging.
‘There’s no telling what we’re able to get in our investigations,’ Bennison stated.
‘We may be contacted by a casino, and they might say we’ve unusual or awkward activity on the betting,’ he noted. ‘For example, people could be betting one of the ways regarding the game, and all of a sudden a lot of money comes in on a different side.’
The GCB was instrumental in uncovering a point-shaving system back in the 1990s at Arizona State University. In what became a scandal that is major two ASU basketball players had been taking bribes to throw the point spread for four various games. It was some associated with Sin City sports books that initially spotted a uncommon pattern of huge bets; they alerted the GCB, which in turn contacted the FBI.
While Bennison states the collaboration is simply being done as safeguard, and not because anyone really anticipates any such thing shady to be on, that’s sort of like saying the SWAT group is on hand in case the bad guys don’t behave nicely. And with a $10 million fund having been set up by the IOC to fight any match that is possible or illegal wagering, we’re guessing the metaphoric AK’s will be locked and loaded.