Plainridge Park Casino Collects $18 Million in First Month

Plainri<span id="more-5508"></span>dge Park Casino Collects $18 Million in First Month

The Plainridge Park Casino had a very successful month that is first bringing much more than $18 million in revenue.

Massachusetts may nevertheless have an approaches to go before it becomes a casino gambling powerhouse, but their first entry into the industry is down up 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 experts 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 suggest that Plainridge Park Casino is on track to achieve their targeted array of $86 million to $120 million annually in contribution to local help,’ said Massachusetts Gaming Commission representative Elaine Driscoll.

Revenues In Line With Projections

Officials had projected that the Plainridge location would produce about $200 million in revenue annually.

The figures from the very first month would meet or exceed that target by about 9 percent.

‘We are pleased with the July performance, that will be consistent with expectations,’ Penn nationwide Gaming’s Eric Schippers told the Boston Herald. ‘It typically takes three to half a year through the period that is grand-opening begin to understand market trends, and now we’ve only now started our marketing efforts in earnest.’

While that is cause for optimism, others have actually noticed that there might be reason to think Plainridge’s long-term prospects aren’t quite so rosy.

Often there is the chance that the casino that is first the state is seen as a novelty, and additionally questions about how precisely Plainridge will do when the larger resort casinos having a wider variance of offerings are opened in a couple of years.

‘ One would expect Plainridge to prosper into the start, but whether that levels off is going to be the question,’ Boston university video gaming specialist Richard McGowan told the Herald. ‘ whatever they require to do is build some kind up 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 throughout the state. In addition, about some of the money will support their state’s horse racing industry.

Casino Makes Payments to Town

The casino has already started initially to benefit the town of Plainville as well.

Last week, 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 month-to-month re payments is for $225,000, but this first payment covered both the final week in June as well as the thirty days of July.

Impact on Local sales Seen that are lottery

Meanwhile, the Massachusetts Lottery continues to be concerned about the potential impact associated with casinos on its sales throughout the state.

In accordance with officials, there has been a slight decline in sales at locations that are within a 15-minute drive of the Plainridge Park Casino.

‘we have been still seeing numbers that are strong retail agents such as convenience stores and filling stations that carry our products,’ said 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 International expansion. (Image: pokerstrategy.com)

Day-to-day fantasy sports (DFS) site DraftKings announced this week it’s received a permit from the British Gambling Commission (UKGC) and plans to go live with A dfs that is uk-facing product the fourth quarter of the year.

Last month, the start-up that is boston-based able to raise almost $300 million in funds to aid its planned worldwide expansion, with around $150 million of that originating from Fox Sports, for an 11 per cent stake in chelsea football club player the business.

DraftKings stated so it plans to move into European countries, Asia, and Latin America during 2016, and has hired 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 can be based in the London that is new workplace. ‘Daily Fantasy Sports is a category that is growing North America, so we have tremendous chance to engage recreations fans across the world.’

New Concept for Brits

The move into the UK is a fascinating 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 activities players during a given day, making points on the basis of the performance of their picks. Users with probably the most points at the end of the cash out day.

This is just a various possibility to regular fantasy sports, which offers games that generally last a season that is whole.

They are already popular within the UK, particularly fantasy EPL soccer, although several major British gambling operators provide them for the money.

DraftKings already provides Daily Fantasy Soccer, and will no question hone this product for great britain market, also introducing more sports that are UK-centric such as for instance rugby and cricket.

‘ We shall add new recreations and games to our burgeoning roster of offerings and connect that is further to their favorite teams and players,’ confirmed DraftKings leader Officer Jason Robins. ‘We also welcome the ability to forge new partnerships with leagues, teams and news outlets internationally once we have done with excellent success in the United States.’

Will the UK Bite?

Whether DFS will have the same type of huge impact as it did in the US, in a market where individuals are absolve to bet on real-life sporting outcomes, stays to be seen.

For all Americans, DFS is the closest they have to placing a legal sports bet, while for the British, who are able to place bets from their cell-phones at the touch of a button at any time regarding the time or night, it will likely be simply another gambling product, albeit a highly engaging one.

Just What’s clear is that while DFS operators into the US argue that their items are ‘not gambling,’ therefore justifying their exemption from UIGEA, into the UK, and probably elsewhere, there is no equivocation, and a complete gambling license is required.

Borgata Responds to Ivey Countersuit

The Borgata has filed a response to Phil Ivey’s countersuit within the ongoing legal drama over his 2012 baccarat wins during the casino. (Image: Las Vegas 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 destroyed before the casino became aware that anything dubious 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 to be able to undermine their 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 private vip area, winning a total of $9.6 million from the casino throughout 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 that they can recover their losses.

The dispute is over Ivey’s use of a technique known as edge-sorting, one that is either an advantage play or a form of cheating, depending on who you ask in both cases.

Interestingly, the known facts in these instances are hardly in dispute by either part; it is merely a matter of exactly how those things of the casino and Ivey should be interpreted.

In the baccarat sessions, Ivey and Sun asked the casino to use a really set that is specific of cards manufactured by Gemaco. Additionally they requested that the games be played with a shuffler that is automatic.

The casinos agreed to these conditions, and were likewise compliant when Ivey asked dealers to turn the high cards in the footwear 180 levels, ostensibly for superstitious reasons.

What they did not realize was that the Gemaco cards in question were imperfectly cut, allowing Ivey to determine which cards had been turned while looking at them face down.

Knowing whether specific cards had been high or low ended up being enough to provide Ivey a significant advantage over the casino. In one session that is particularly successful July 2012, Ivey won $4.8 million from the Borgata throughout the course of 17 hours.

Countersuit Alleges Deliberate Destruction of Proof

After the Borgata sued Ivey and Sun, the defendants filed a countersuit, saying that the situation should really be dismissed due to the fact that the casino had destroyed the cards utilized in the games. They also sought legal fees and damages under laws and regulations related to the filing of frivolous lawsuits.

But within their response, the Borgata says that the cards were destroyed as a matter of due program, which happened before there was any dispute throughout the baccarat winnings.

‘Some of the cards used in the play at issue in this instance were damaged in the regular course of plaintiff’s business operations, prior to plaintiff’s becoming mindful of defendants’ scheme and the defect in the playing cards, and pursuant to applicable regulations,’ the response read.

Solicitors for the Borgata also state that Ivey and Sun cannot recover damages due to their ‘fraudulent conduct,’ and say that the statute of limitations has expired on the allegations the defendants are making.

Ivey normally involved with a lawsuit that is similar Crockfords, in which he sued the casino in an effort to force them to pay him his winnings. An appeal is expected to be heard later this year while courts initially ruled in favor of the casino.

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About Susan Bass

Susan Bass is Director of Public Relations for Big Cat Rescue in Tampa, Florida. Big Cat Rescue is one of the largest accredited sanctuaries in the world, dedicated to rescuing and providing a permanent home for big cats, most of whom have been abused and abandoned. For more information about the sanctuary, visit www.BigCatRescue.org.

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