Now, some four months later, a second admin error has been revealed. It turns out he was given 257.4 points for his 9th place finish in the $1,500 Pot Limit Omaha Hi/Lo event when he should have actually been awarded 467.2 points.
This was enough to see him leapfrog Campbell by over 100 points, meaning he really did win the WSOP Player of the Year race for a record third time.
Negreanu commented upon hearing the news:
I am obviously delighted with this news, but very nervous that another error might be revealed to say I didn’t actually win. Either way, I plan on winning POY for a fourth time this year at the World Series of Poker, which is totally happening by the way.
We reached out to Robert Campbell who told us he “didn’t care” that he was no longer the 2019 WSOP Player of the Year .
Shaun Deeb, who potentially could have won the title had he known about the first admin error, was unavailable for comment.
Barry Carter
Barry Carter is the editor of PokerStrategy.com and the co-author of The Mental Game of Poker 1 & 2 and Poker Satellite Strategy
The online poker scene in the US is improving daily due to the coronavirus pandemic. Beginning April 5, WSOP.com will host a $4 million guaranteed Spring Online Championship series that will make history.
WSOP.com is the place to be during the coronavirus pandemic in the US. (Image: CardsChat News)
Every since the live poker rooms in Las Vegas (and New Jersey) closed down earlier this month, WSOP.com’s traffic has spiked. Many regulars on that site have noticed the games have been juicier lately. And far more players are now logged in at any given time compared to pre-coronavirus.
But the action is about to pick up even more in the coming days.
Juiciest Legal Online Poker Series in American History
Prior to Black Friday in 2011, there were numerous online poker events — such as the PokerStars SCOOP and the Full Tilt Poker FTOPS series. But since only four states (New Jersey, Nevada, Delaware, and Pennsylvania) now have legal online gambling, there haven’t been any major series the past decade.
That will all change come April 5 when WSOP.com hosts a $4 million guaranteed series. The 100-event series is only available to those in New Jersey, Delaware, and Nevada. Players in Delaware will compete in the series on the 888poker partner site. Pennsylvania residents cannot play as neither WSOP.com nor 888poker are available in that state.
Tournaments in the special online poker series range from $10 up to $1,000. The Spring Online Championship series kicks off with a $30 ($30,000 guarantee), $215 ($100,000 guarantee), and $55 ($50,000 guarantee), on April 3. It culminates with a $300,000 guaranteed Main Event on May 3.
Prior to the start of the Spring Online Championship, from April 1-4, WSOP.com will also host a 12-event warm-up mini-series with $250,000 in guaranteed prize pool money up for grabs.
WSOP.com the Potential Home for 2020 WSOP?
With the live World Series of Poker in jeopardy due to the coronavirus scare, many poker players have speculated the series will take place exclusively on WSOP.com. The WSOP recently announced a decision on the 51st annual summer poker extravaganza won’t be made until early May.
But the 51st annual WSOP already has 14 online poker bracelet events scheduled. And that means, should live poker still be banned in Nevada at the end of May, there may still be some major poker events to play this summer in the US. But we’ll have to wait another month to see what the WSOP decides.
Detroit’s Greektown Casino-Hotel has set aside 40 free-of-charge rooms for police officers, firefighters, and emergency medical technicians. Numerous Detroit first responders have fallen ill, and a few have died from the virus.
Detroit’s Greektown Casino-Hotel is providing free rooms to police officers, firefighters, and EMTs during the dangerous coronavirus outbreak. (Image: Connect Media)
In order to stay at the hotel, the first responders must be free of coronavirus symptoms. Their health is constantly monitored.
Whenever they enter or exit the hotel, guests will get temperatures taken. Fever is a key sign of the illness.
The free offer comes after hotel management heard that emergency workers were worried about going to their homes, given that they were exposed to the COVID-19 virus. The coronavirus can be easily transmitted to family members.
Greektown owner Marvin Beatty, who in an earlier career was a city firefighter, explained to the Detroit News, “There are so many first responders who are out there working, and coming in contact with a lot of people.
We’re providing them a safe place to go instead of going home and potentially exposing their families,” Beatty said.
The hotel, like many in the state, closed after Michigan last week issued a closure order for non-essential businesses. That led to such low occupancy rates that hotel managements decided to close buildings rather than operate them while they are close to empty.
Many Police Officers Ill
Already, two Detroit police officers died from coronavirus. They include the commander of the Homicide Section and a civilian 911 dispatcher.
As of Friday, 39 Detroit police officers tested positive for the virus. That includes Chief James Craig, 63, who is now under quarantine.
Approximately 500 police officers were under self-quarantine. Also, 21 Detroit firefighters were under quarantine.
Craig Miller, president of the Detroit Police Officers Association, told the News that given these numbers, many police officers were anxious, .
We discussed this with the mayor on Friday, because one of our concerns is officers who are scared to go home,” Miller said. “It’s nice that [the hotel is] giving those officers a place to stay during this crisis.”
Miller is attempting to reassure Detroit officers worried about the virus. “Right now, we have to keep our citizens calm, and we also have to keep our officers calm,” Miller said.
“I’m trying to stay in contact with everyone, because I’m getting a lot of phone calls from people who want answers,” Miller added. “I’ve told the union stewards to give people my cell number; they can call any time if they have any questions.”
Each police patrol car has two personal protection equipment kits with protective masks and gloves. Officers are also checked regularly for fever.
“Every time they use them, a task force comes to the precinct to replace what’s been used,” Miller explained.
“We just got a bunch of surgical masks the officers can wear all day long,” Miller added. “They have N-95 masks they can wear when they come in direct contact with someone they believe may be infected, because those offer more protection.”
When the police chief tested positive for coronavirus on Friday, Detroit Mayor Mike Duggan called it “a shock,” WXYZ reported.
“I knew this disease doesn’t discriminate. It doesn’t matter your rank, age.”
Beyond the first responders, Fox-2 Detroit reported that state Rep. Isaac Robinson, whose district includes part of Detroit, died over the weekend after contracting coronavirus. In total, as of Monday, there were 184 deaths and 6,498 confirmed cases of COVID-19 in Michigan.
That includes Wayne County’s total cases of 3,195. Detroit is in that county.
Gaming-Related Venue Used for Patients
Elsewhere in the US, New York City’s Aqueduct Racetrack was approved as an emergency hospital to temporarily house sick residents.
Up to 1,000 patients will be placed inside track buildings. Some health-related equipment could be stored outside the buildings
In other states, ranging from Nevada to Connecticut, using casinos or adjoining hotels to house people is being considered.
Often, officials opt for convention centers or other expansive buildings or outdoor spaces because they are easier transformed into hospital-type complexes than traditionally-designed hotels.
Government officials in Osaka say opening an integrated resort ahead of its hosting of the 2025 World Expo is no longer a realistic goal.
Osaka’s planned casino resort won’t be open in time for the city’s hosting of the 2025 World Expo. (Image: Inside Osaka)
Osaka Prefecture and city leaders cite the ongoing COVID-19 pandemic as the primary reason for the push back. According to World Health Organization data, Japan has 1,866 confirmed coronavirus cases and 54 deaths, relatively small numbers compared to China (82,447 cases, 3,310 deaths) and the United States (122,653 cases, 2,112 deaths).
But the coronavirus has brought global economies to a standstill. Travel restrictions have been placed around the world, and many non-essential businesses have been suspended.
Osaka had hoped to conclude its request for proposal (RFP) process by the end of April 2020. Prefecture and city leaders now say the RFP period will be extended six months by the pandemic.
The 2025 World Expo will run six months between May and November of 2025. The theme is “Designing Future Society for Our Lives.”
MGM Responds
Osaka is one of several prefectures and cities in Japan jockeying to be awarded one of the three IR licenses by the federal government. The consensus among gaming industry analysts is that Osaka will indeed be one of the casino designations.
MGM Resorts emerged last month as the last casino operator standing in Osaka following numerous exits, including Las Vegas Sands, Melco Resorts, Wynn Resorts, and Genting Group.
MGM has formed its local consortium with Orix Corporation, a Japanese financial services group with headquarters in Osaka. Orix has decades of experience financing real estate developments in the Asian nation.
In response to Osaka saying 2025 has been rendered unrealistic, MGM confirmed its plans in Japan are subsequently being delayed.
MGM will continue to proceed with our efforts to create a proposal that will be appreciated by the entire Osaka community, taking into account the schedule announced by the government,” MGM Resorts Japan CEO Ed Bowers said.
In Osaka’s IR Basic Plan document, which was released last year, proposals must come with a minimum investment of 930 billion yen ($8.63 billion). The IR complex must span a minimum of 121 acres and be designed to generate annual non-gaming gross revenue of $930 million and yearly casino revenue of $3.52 billion.
Japan Slowdown
For the past several years, Japan has been on an ambitious mission to bring commercial gambling to the country. Prime Minister Shinzo Abe is dedicated to growing tourism.
“The government is going to set up the foundation of the tourism nation at full speed in 2020,” Abe told the National Diet in January. “The government is strongly committed to achieving the goal of 60 million inbound visitors in 2030.”
COVID-19, however, is expected to delay the resorts. Along with Osaka, the leading prefecture/city candidates for the casinos include Yokohama, Tokyo, and Nagasaki.
Las Vegas Sands is the frontrunner for Yokohama. But the casino empire of billionaire Sheldon Adelson says it’s also interested in Tokyo should the federal government allow an IR in the capital city. Other casino companies that remain focused on Japan are Wynn, Melco, Galaxy, SJM Holdings, Hard Rock, and Genting.
Wynn Macau Ltd. is the latest gaming company to alter its dividend policy citing the coronavirus outbreak, saying earlier today that it won’t deliver a 2019 payout.
Citing the need for prudence during the coronavirus, Wynn Macau won’t pay a 2019 dividend. (Image: Bloomberg)
That after the operator of the Wynn Macau and Wynn Palace integrated resorts paid a final 2018 dividend of less than six cents a share, its lowest payout in five years. Most domestic dividend payers deliver those payouts on a quarterly basis, but international companies frequently pay dividends on a semi-annual basis. Wynn Macau usually pays its shareholders in June and September.
The Board has deliberated over the payment of a dividend, and at this point-in-time no dividend is recommended. During this unprecedented COVID-19 crisis, the Board’s primary focus is on safeguarding its Macau operations and most importantly the well-being of its over 13,000 employees,” according to a corporate filing obtained by Casino.org.
Earlier this month, the operator said that because of the coronavius, it can’t accurately project what 2020 earnings and cash flow will look like. Wynn Macau is a holding company for the two aforementioned gaming properties and relies on those venues to generate cash, which the parent entity often distributes to shareholders. In the filing released earlier this month, potential dividend vulnerability at the hands of COVID-19 was mentioned.
Not The First Company to do This
With the coronavirus outbreak stifling the industry, previously forcing a 15-day closure of casinos in Macau and, currently, temporary suspensions of all gaming venues in the US, operators are looking for ways to cut costs and conserve capital.
Reducing or suspending shareholder reward programs are easy avenues for doing that. Last week, Boyd Gaming (NYSE:BYD) said it’s suspending its dividend, news revealed after MGM Resorts International (NYSE:MGM) pulled the plug on a $1.25 billion share repurchase program.
Wynn Macau said its board “will be continuously monitoring the situation and market conditions in Macau and Greater China and may consider a special dividend in the future when such conditions have stabilized.”
Since 2010, the operator has paid six special dividends and nine regularly scheduled payouts.
Decent Cash Position
At a time when analysts and investors are concerned about operators’ cash hoards and access to capital, Wynn Macau appears steady on that front. The company finished 2019 with $1.81 billion in cash on hand and can access a $401 million credit facility for additional liquidity, if needed, according to the filing.
In the US, Wynn Resorts (NASDAQ:WYNN) is taking its own steps to reduce expenses. CEO Matt Maddox recently shifted the remainder of his 2020 compensation to 100 percent equity with other executives and board members also saying they will move to stock payments of 33 percent to 100 percent of their cash salaries for the year.
Las Vegas-based Wynn pays a quarterly dividend of $1 per share and the company hasn’t commented on the fate of that payout. However, any firm borrowing money from the federal government under the $2 trillion stimulus program, must halt buybacks and dividends. The company hasn’t yet confirmed if it will participate in that program.
Billionaire Sheldon Adelson, the founder and CEO of the Las Vegas Sands casino empire, has personally donated two million masks to United States hospitals.
Sheldon Adelson got his hands on two million surgical masks in China, and is bringing them home to the US. (Image: Florida Gov. Ron DeSantis Press Office)
Adelson ranks No. 17 on Forbes’ list of wealthiest Americans, his fortune today estimated at $29.3 billion. While that’s down considerably from more than $40 billion earlier this year, the casino tycoon is still opening his checkbook to support the relief efforts for the COVID-19 pandemic.
And he’s doing it with little fanfare. Jewish Insider learned from a source close to the billionaire that Adelson personally purchased two million face masks from a Chinese manufacturer and is having them shipped to the US. The insider says 250,000 of the masks are being directed to the Trump administration’s task force handling efforts to assist healthcare workers.
The remaining 1,750,000 masks will be handed out to hospitals in need in New York and his home state of Nevada.
Sands owns The Venetian and Palazzo on the Las Vegas Strip. It doesn’t own property in New York, but is actively campaigning for the state to lift a ban on downstate casinos. Adelson has long wished to build in the New York City area.
Casinos Assisting
Former MGM Resorts CEO Jim Murren, who is heading up the Nevada COVID-19 Response, Relief & Recovery Task Force, announced this week that his ex-employer and Wynn Resorts are two companies leading the coronavirus relief effort.
Murren explained that Wynn was able to obtain and donate 290,000 respiratory masks, 600,000 surgical masks, 500,000 pairs of surgical gloves, and 2,000 medical gowns. Murren wasn’t quite as specific with MGM’s donations, saying only that the company gave 100,000 surgical masks and “hundreds of other items to the medical community.”
Numerous Las Vegas casino operators, including MGM, Wynn, Sands, Station Casinos, and Boyd Gaming have donated to area food banks. Adelson’s Sands additionally gave $250,000 to three local charities.
We are in the hospitality and entertainment business and our team members work very hard to provide a great experience for the thousands of people who come through our doors daily,” said Sands President Rob Goldstein. “However, our most important commitment is the one we have made to the health and safety of our team members and guests.”
Most casinos across Southern Nevada offered their laid-off or furloughed employees at least two weeks of continued pay. However, that’s expiring this week for many, and Las Vegas is expected to remain on lockdown through at least April. Sands and Wynn have committed to paying their employees throughout the shutdown.
Political Giving Impact
Adelson and his wife Miriam gave $82.58 million during the 2016 presidential election cycle, and $123.25 million during the 2018 midterms. However, the coronavirus pandemic has hampered global stock markets, and brought political giving to a near standstill.
Democratic frontrunner Joe Biden, who has relied heavily on in-person donations at campaign rallies, has been forced to try to woo supporters through online videos. Numbers haven’t yet been released to show if it’s working.
The Adelsons haven’t made a 2020 political campaign contribution, according to the Federal Election Commission. They did make several substantial donations to Republican Super PACs in 2019 totaling more than $1 million.
Some of the best poker books don’t offer you strategic advice, but instead inspire you to take up the game and improve at it. For lovers of a poker anecdote, as most of us are, Devilfish: The Life & Times of a Poker Legend is a book that has few equals.
To say that Dave Ulliott was a rogue and raconteur is not to disrespect him, but more to understate him. His poker stories had beguiling beginnings, mesmerizing middles… and no end. He could talk for hours and you’ll feel like it had been minutes.
Ulliott would frequently leap onto stage, grab a guitar and entertain people wherever he went. He’d join in with buskers, corral strangers in the street to hear him sing and woo the crowds at the World Series of Poker… before taking their money at the poker table. He was a born entertainer:
Thankfully for fans of poker biographies, he could write a good story too. The man who once served time in prisons in the North-East went straight and became a poker legend. The book is full of stories of how he turned his life around and had the ability to risk it all at the poker felt, something he did on many occasions. If he was up half a million or down to his last buy-in, he was just as dangerous, and thrilling company.
I interviewed Ulliott a couple of years before his passing as we shared some commentary airtime during the £2,000-entry 2012 English Poker Open, a tournament that should never have been allowed to drop off the calendar. Having a cousin who married a girl with the maiden name of Ulliott, I mentioned this to him on air. He looked and sounded genuinely fascinated, waited for me to tell him all about it. Then as soon as I was done asked me if this was the moment I was asking for a slice of his inheritance.
Ulliott could command the room to still and awe-struck quiet if it was in the middle of a bomb evacuation. He was the centre of attention wherever he went and he bathed in the limelight, giving it something worthwhile to light up. That luminosity is brought to life in the book brilliantly. It was given a glowing review by Ulliott’s old friend Victoria Coren-Mitchell back in 2010 when it was published:
“’I was nervous to review it, in case it was bad,” she wrote in The Guardian. “Dave Ulliot is a friend of mine and he has a gun. But I needn’t have worried. The book is, like the man, fast, funny, scary, smart, cocky, colourful, and I adore them both.’”
Dave ‘Devil Fish’ Ulliott passed away five years ago this week, a fact that is as shocking as it is tragically sad. Taken by cancer, Ulliott lived life to the absolute full and his legacy both at the poker table and in the many stories he shared during his life lives on with a burning energy that will never truly dim. The posthumously-awarded Poker Hall of Famer was a true legend of the game.
You can buy Devilfish: The Life & Times of a Poker Legendright here.
Could simulated virtual tennis matches fill the current sports betting void being experienced around the world? Sports data firm IMG Arena and the ATP Tour are betting on just that.
With sports canceled and postponed, the sports betting industry is turning to simulated events such as virtual tennis. (Image: IMG Arena)
This week, IMG Arena announced its virtual tennis product will debut sometime next month. The simulated game will feature logos and official tournament names from the ATP Masters 1000 series to deliver what’s touted as “an authentic, fan-first experience.”
Once live, sportsbooks will be able to utilize the turnkey third-party platform by integrating the product into its online network. Gamblers will be able to wager on various odds, including in-match propositions.
“The result is a game-changing product that maximizes player engagement and operator returns,” claimed IMG Arena Managing Director Freddie Longe. “As with all of our virtual sports offerings, we have developed the most realistic look, feel, and betting experience.”
IMG says it contracted Leap Gaming to develop the virtual tennis software.
US Legality
The IMG/ATP Tour betting product will only be available in markets where gambling on virtual sports is legal. That means US bettors might not find the games available on their mobile sportsbooks anytime soon.
Gaming regulators in the US where sports betting is legal have largely followed Nevada’s lead in mandating that only sporting events that are conducted live and regulated by a governing body – the NFL, for example – are permissible.
Nevada Regulation 22.1201 of the “Race Books and Sports Pools” code says, “A virtual event shall not be approved … unless an approved gaming device is used to determine the outcome(s) and to display an accurate representation of the outcome(s) of the virtual event.”
The law also requires that the virtual game be distributed live to sportsbooks. Nevada defines a “virtual event” as one “where the outcome is generated by an electronic device.”
Virtual Games
The ATP Tour virtual tennis product isn’t the only one in the works from IMG Arena. The company’s virtual portfolio includes golf, motorsports, football, horse racing, greyhound racing, and cycling.
Sportradar, another sports betting information distributor, is also in on the virtual gambling game. The company has reached agreements with MLB, FIFA, and UEFA to deliver fans virtual betting platforms.
Sportradar’s Virtual Gaming Solutions has been around for a decade. The company claims more than 180 bookmakers worldwide offer its virtual games, which currently consists of virtual basketball, tennis, soccer, and horse and dog racing.
Sports leagues have shuttered their games and events in response to the COVID-19 pandemic. Presently, only table tennis and soccer are being played in Russia and Ukraine. Online oddsmakers have turned to such offbeat props as weather predictions, stock market futures, and reality television outcomes.
The Tokyo Olympics have been rescheduled for July 2021, and ESPN college football analyst Kirk Herbstreit said last week that he wouldn’t be surprised if we don’t see American football played in 2020.
Shares of Eldorado Resorts (NASDAQ:ERI) and Caesars Entertainment (NASDAQ:CZR) are soaring Tuesday after an unidentified source told CNBC the $17.3 billion transaction that will create the largest US gaming company should be completed in June.
Eldorado’s $17.3 billion takeover of Caesars was rumored to be dying. But it could be finalized in June. (Image: CNBC)
That report comes just days after the deal appeared to be hitting regulatory headwinds because gaming authorities in Nevada and New Jersey, among other states, are postponing meetings at which the takeover is to be discussed because of the coronavirus.
A highly placed source told me today, with direct knowledge of this deal, that committed financing is in place at attractive rates,” reports Contessa Brewer for CNBC. “ Both companies have the liquidity they need to survive for more than a year.”
Casino.org reached out to representatives of both Eldorado and Caesars. An external public relations firm for ERI said the company doesn’t comment on market rumors and that it wasn’t yet aware of the CNBC report. Caesars did not respond to a request for comment prior to the publication of this article.
Back From The Dead
With the COVID-19 pandemic forcing temporary closures of all domestic gaming properties, Caesars and ERI are two of the most badly battered names in the industry. The declines accrued on the back of speculation that with the rapid deterioration in the US economy, the proposed marriage may fall apart.
The point about financing commitments is vital to ERI’s plan to acquire Caesars. Reports surfaced earlier this month that a syndicate of lenders are having difficulty finding willing buyers for more than $7 billion worth of commercial paper and loans being extended to Caesars and ERI to move the transaction along. Rumors swirled that the banks would have to sit on the debt themselves until market conditions improve in order to prevent the casino marriage from falling apart.
Soon thereafter, some Wall Street analysts produced models forecasting survival timelines for various US gaming companies, with dismal projections for ERI and Caesars, assuming the purposed takeover doesn’t happen.
Assuming the source cited by CNBC is credible and the June consummation date proves accurate, that would jibe with what ERI executives have said this year as they’ve noted the deal is likely to close in the second quarter.
Regulatory Calendar
As Casino.org reported last week, ERI is subject to a $2.3 million daily “ticking fee” because it didn’t finalize the takeover in nine months. But that capital isn’t going out the door every day. Rather, it will be built into in the final purchase price of Caesars, according to CNBC.
Closing the acquisition in June meshes with expectations that Nevada regulators probably won’t review the deal until mid-April at the earliest, and that New Jersey gaming authorities won’t render a decision on it until early May.
The regulatory “X” factor could prove to be Indiana, where the Horse Racing Commission (IHRC) was going to review the takeover earlier this month. Its meeting was postponed because of the coronavirus. IHRC meets quarterly and it’s not yet clear if its second-quarter conference will be moved up to accommodate ERI and Caesars.
Atlantic City casinos will have another month to disclose to the state their Q4 and full-year 2019 profit reports because of the ongoing COVID-19 pandemic that has shuttered their resort operations.
Atlantic City casinos are being afforded another month to relay to the state how they performed in terms of profitability last year. (Image: Shutterstock Royalty Free)
In a notice posted to the New Jersey Division of Gaming Enforcement’s (DGE) website, the state gaming regulatory agency explains the fourth quarter and 2019 annual DGE filing deadline is being extended from March 31 to April 30.
As a result of the delay in filing dates, the Quarterly Press Release scheduled for April 7, 2020, will be delayed to May 7, 2020, subject to further adjustments as needed depending on the duration of the closure,” said DGE spokesperson Kerry Langan.
New Jersey Gov. Phil Murphy (D) ordered the closure of Atlantic City casinos on March 16. The sportsbooks at Monmouth Park and the Meadowlands additionally ceased operations.
The quarterly reports reveal profits for each casino after expenses. They additionally show hotel occupancy numbers.
Coronavirus Devastation
New Jersey has become one of the hardest-hit states by the coronavirus. Nearly 18,700 residents in the Garden State have tested positive, and the disease is responsible for 267 deaths. Atlantic County is home to 31 coronavirus cases.
The quarterly and annual DGE filings will show specifically the impact the deadly disease is having on Atlantic City’s economy, and the state as a whole. The shutdown of all non-essential business will result in an untold number of millions of dollars in lost revenue, and subsequent tax income for the government.
The New Jersey Department of the Treasury recently slashed its 2020 fiscal year revenue projections and estimates.
The impact of COVID-19 on the state, its economy, and budget and finances is unpredictable and rapidly changing. But the state believes that events surrounding COVID-19 will negatively impact the state’s economy and financial condition,” said Treasurer Elizabeth Muoio.
Muoio’s statement came along with the disclosure that the state treasury is freezing nearly $1 billion in spending. She said more than $920 million in appropriations spending has been instead moved into reserve accounts with the Office of Management and Budget.
Gaming Not Fully Halted
Unlike in most other states where casinos and tribal gaming venues are shuttered, New Jersey’s gaming industry isn’t entirely suspended thanks to its legalization of online gambling.
Gross gaming revenue (GGR) from online casinos and sports betting is taxed higher than when played in-person. Land-based gambling is taxed at eight percent, but 15 percent online.
In-person sports betting win is taxed at 8.5 percent, but 13 percent when wagered remotely. However, there’s been little to no sports to bet on during the global health crisis.
Casinos and sports betting, both in-person and online, generated $54.14 million in taxes through the first two months of the year. Of that figure, $24.22 million stemmed from internet operations – or nearly 45 percent.
Without sports betting, online casinos generated a little more than $16 million in taxes – or 30 percent of the haul. New Jersey is one of just three states with online casinos, the others being Delaware and Pennsylvania. Nevada limits its internet gambling to poker.
Paddy Power and FanDuel owner Flutter Entertainment, and PokerStars and SkyBet parent The Stars Group (TSG) said this week their planned $12.2 billion merger will go ahead — regulators permitting — despite the financial shock of the coronavirus crisis.
Flutter Entertainment CEO Peter Jackson is confident the deal with TSG will be done. (Image: Independent.ie)
Flutter may be harder hit than its Canadian suitor. That’s because of its greater exposure to the fallout from the cessation of elite sports across the world. The company generated a whopping 78 percent of its revenues from sports betting last year. Earlier this month, it warned investors to expect a hit to profits this year of between £90 million ($109 million) and £110 million ($134 million).
In contrast, despite becoming a major player in the sports betting space through its acquisition of SkyBet, TSG still makes most of its money — some 62 percent last year — from poker and casino games.
Its latest financial update sounded far rosier than Flutter’s. TSG CEO Rafi Ashkenazi said earlier this month he remained “confident in our ability to continue driving revenue growth in the years ahead, despite the inevitable disruption in the sports industry during 2020.”
Strategic Rationale
But there is no suggestion that TSG is getting cold feet. Both companies believe that the vast scale and cost savings generated by the combination will put them in a better position to absorb the financial impact.
According to The Times, the boards of both companies said they had “considered the likely impact on the combined group, [and] they continue to believe strongly in the strategic rationale for the combination.”
“The Flutter board believes that the combined croup will have a robust financial profile, given its strong cash generation in conjunction with expected cost, revenue, and financing synergies,” the company said in a business update last week.
Flutter added that its final dividend for 2019 will be paid in shares rather than cash, which will allow it to keep around €112.7 million ($124 million) in cash flow.
The company has also secured a term loan and revolving credit facility totaling £1.3 billion ($1.6 billion), which it will use to refinance Flutter and Stars Group’s existing debt to increase the financial flexibility of the combined group.
TSG has never declared or paid dividends and is not expected to do so before the merger’s completion.
Market Domination?
The deal still needs to pass muster with UK antitrust regulators, who are currently scrutinizing whether the combined group — which would be the biggest online gambling company in the world by revenue — would be too dominant in the market.
Brands controlled by Flutter and TSG collectively make up around 40 percent of the country’s online sports-betting sector and around 26 percent of its overall online gaming market.
The news of the two companies’ determination to complete the deal comes as sources told CNBC that the gambling industry’s other proposed mega-merger — between Caesars Entertainment and Eldorado Resorts — was still on and would be completed by June.
William Hornbuckle, the interim CEO of MGM Resorts International (NYSE:MGM), is displaying confidence in his employer’s stock, scooping up more than 41,000 shares in the gaming company just this week.
Acting MGM CEO William Hornbuckle is a fan of the company’s stock, buying 41,300 shares in just two days. (Image: Wall Street Journal)
To be precise, Hornbuckle added 41,300 shares of MGM equity over the past two days – 8,300 on Monday and 33,000 today, according to a Form 4 filing with the Securities and Exchange Commission (SEC). That brings his ownership of the Bellagio operator’s stock to around 227,000 shares.
Hornbuckle was tapped as acting CEO earlier this month when Jim Murren was named by Nevada Gov. Steve Sisolak to lead the state’s COVID-19 task force. The interim CEO has over four decades of gaming industry experience, and most recently served as chief operating officer and president of Las Vegas-based MGM.
Hornbuckle’s Monday purchase of MGM stock was at an average price of $11.99, with the Tuesday buy coming at an average price of $12.04, according to the SEC filing. The stock closed at $11.62 today, finishing the first quarter lower by 64.59 percent.
Signs of Support
Hornbuckle’s purchases of MGM stock this week extend a theme of company insiders acquiring shares of the downtrodden name. SEC filings released less than two weeks ago indicate company executives, including Hornbuckle and Murren, picked up shares of the Mirage operator as the stock swooned. All told, some 16 MGM board members and high-level executives recently boosted positions in the company’s equity this month.
Shares of the Mandalay Bay operator shed almost 53 percent of their value in March, as gaming stocks were crippled by the temporary closures of casinos across the US. Nevada, where MGM is the largest employer, is in the midst of a 30-day coronavirus shutdown that went into effect on March 17.
Last week, MGM said it’s incurring “substantial” March losses because of the closures and that it has limited visibility regarding when its Las Vegas and regional gaming properties will reopen.
While challenges linger for the gaming industry, the optics of insider buying – including Hornbuckle’s purchases – are widely viewed as positive. Conventional wisdom dictates that board members and executives buy shares of their employer’s stock for a single reason: because they think it’s going up.
Good Timing?
Hornbuckle’s purchases of MGM stock may be viewed as good timing simply because the shares reside almost 66 percent below the 52-week high. But also, the company is actively attempting to allay Wall Street concerns about the impact the COVID-19 pandemic is having on its finances.
Last week, MGM said it’s not planning to access any of the $454 billion in loans the Treasury Department is offering large businesses, even though Murren lobbied President Trump to assist the gaming industry in the wake of the coronavirus.
The company added that its liquidity position is sturdy and that it believes it will“ultimately rebound from the impacts of the current crisis.”
MGM has $3.9 billion in cash on hand and interest and lease obligations of $603 million for the remainder of 2020.
A Hong Kong illegal gaming racket, which obtained $1.8 million from eight gambling dens in just a half year, was broken up by local police in a series of recent raids, police revealed. Three ringleaders and 26 other suspects were arrested as of Monday and more arrests are possible, news reports add.
Hong Kong Police Commissioner Tang Ping-keung leads the department which recently arrested 29 suspects in a series of gambling raids. (Image: China Daily)
The illicit operation used arcade-type machines in underground casinos for betting, according to the South China Morning Post. During the searches, police seized 18 arcade-type machines and shuttered the gambling dens.
Detectives also claim the illegal operation was run by suspects who are from China’s Hunan Province. The command center was in Mong Kok.
Two of the ringleaders were 39 and 41-year-old men who were arrested in the command center on Sunday. Police also seized money, extendable batons, and baseball bats at the command center.
On Monday, police arrested the third ringleader. He is a 40-year-old man.
Inside the gambling dens were found the arcade machines which ran fishing games that were used for betting games, the news report said. Gamblers had to purchase cards to record their scores, the report added.
Jackpots, Free Food, Drinks Lured Players
Points were exchanged for cash, according to police. Gamblers were also treated to free drinks and food at the different venues.
“Like slot machines, a jackpot was given out regularly to attract gamblers to keep playing,” an unnamed source further explained to the newspaper. The gambling dens were lucrative, with a nightly profit at each one of about $1,300. The gaming dens were in Mong Kok and Sham Shui Po.
“To avoid detection, the money was transferred into their bank accounts on the mainland via money changers,” an unnamed source revealed to the Morning Post.
Police today were investigating the bank accounts associated with the suspects. Police may be able to seize more ill-gotten money and arrest even more suspects, the Morning Post added.
Police allege most of the players had ties to the “underworld,” the Morning Post claimed, based on statements from officials. The players included suspected drug traffickers, as well as members of triads, police sources told the newspaper.
A triad is a transnational organized crime syndicate based in China, the report explained.
Before the raids, police conducted an extensive inquiry into the gambling ring to gather evidence and locate ringleaders, the news report said.
The raids began on Sunday and involved special duty officers and officers assigned to the anti-triad unit of Sham Shui Po district.
Ringleaders Face 14-Year Sentence
The three ringleaders were charged with operating illegal gambling establishments and money laundering, the newspaper reported. If convicted, money laundering could result in as much as 14 years in prison.
The suspects each could also face $645,025 in fines if they are convicted.
In an unrelated matter, Kazuo Okada, one of the co-founders of Wynn Resorts, was arrested in 2018 in Hong Kong on “corruption-related offenses,” according to a filing to the Hong Kong Stock Exchange by Universal Entertainment. Last year, he was released unconditionally by Hong Kong’s anti-corruption agency.
“The following is what happens when you give two degenerate gamblers their own TV show…”
Some poker TV shows feature poker as the main player, others use the game as a backdrop for gangsters to shout at each other or dramatic characters to feel the emotional pull of a gambling addiction or enjoy the escapism of the game.
The two-year run of prop-betting poker show ‘I Bet You’ did no such thing. The show featured Phil Laak and Antonio Esfandiari as two best friends prepared to prop bet each other through the trials and tribulations of a life on the road as poker pros at the top of their games.
Nothing was off limits, no subject was taboo and nothing was left unsaid by two men for whom filters were designed purely for sunglasses. Poker prop bets often originate from stories heard at the felt. Remember that one about Huck Seed doing a front flip within 24 hours but his uncle was a gymnast? What about that prop bet where the guy trod water for 24 hours? No, he bailed and paid out at 4 hours.
Poker [prop bets are often rumours is the point. They are hearsay, not reports but stories, built around the reactions of their audience – themselves poker players.
Watching prop bets actually take place could easily be assumed to be less entertaining. After all, the logic might be that the ‘Chinese whisper’ of a poker story is better than the story itself. The embellishments are usually what make a good story truly memorable. I Bet You proves that theory dead wrong, however, as Laak and Esfandiari quickly fall into the assumptive roles of quick-witted wild child (Laak) and cool older brother (Esfandiari).
Wagering their own money was never a problem to these two and they are highly engaging and wondering if either man can wrestle an alligator or race a sled faster down a hill than the other is pure TV gold.
While I Bet You only ran for three short seasons on the rarely seen MojoHD channel, the idea of the show was a winner. We’re pitching for the show to come back, but instead of it being Laak and Esfandiari every week, it would be two best friends from poker coming together to play three prop bets against each other.
We’re talking about Sam Trickett and Roberto Romanello in a battle to win partypoker bragging rights by making a trifle, hitting the bullseye in archery and swimming 5km faster than the other.
We’re thinking about a 100-metre sprint between Jason Mercier and Daniel Negreanu, or Alex Foxen and Kristen Bicknell playing children’s memory card games for $10,000, or Phil Ivey playing baccarat against an established casino with the aid of… no, hang on. That’s been done.
The format was brilliant, even if the show was rough around the edges and while Laak and Esfandiari have probably outgrown the ability to complete so much footage that would be needed for a remake, the show itself is one of the few poker TV shows that could easily be better now than it ever was.
Here’s a great place to start if you never caught an episode. If you agree with us, petition your nearest poker brand.
Greektown Casino-Hotel in downtown Detroit is opening its doors to first responders in the city who work during the coronavirus outbreak.
The casino was temporarily shut earlier this month as part of the extraordinary measures invoked by Michigan lawmakers to stem the spread of the dangerous virus that has gripped the world and put more than half of its population in some form of lockdown.
The statewide casino shutdown was originally set to last through today, March 31, but was extended through at least April 13.
And while Greektown will remain closed for guests and casino patrons until at least mid-April, it announced that starting Monday it would open its doors for police officers, firefighters, emergency medical technicians, and other first responders who are afraid to go home and risk infecting their loved ones with the coronavirus.
The casino said that it is opening 40 rooms on two floors. Only healthy first responders working during the Covid-19 crisis will be allowed to stay in the available rooms. Guests will have their temperature taken every time they enter or leave Greektown.
First responders will stay at the hotel for free, but they will have to bring their own food as only a limited number of Greektown’s workers will be on duty. The hotel will only provide clean towels and sheets.
Extended Closure and No Paychecks
Greektown is one of Detroit’s three casinos. And the three properties are Michigan’s only commercial casinos. The gambling venues announced that they would stop paying their employees from March 31 and through the entirety of the shutdown period.
All three casinos previously pledged to keep their workers’ paychecks coming until the end of March when they were originally set to reopen. However, with the number of infected individuals growing rapidly nationwide, the eventual reopening of gaming facilities and other businesses deemed non-essential is surrounded by great uncertainty.
Detroit’s three casinos – Greektown, MotorCity, and MGM Grand Detroit – said that while they will cease pay to their workers beyond end of March, they would extend benefits through June 30.
Thousands of workers have been furloughed or laid off across the US as all of the nation’s commercial and most tribal casinos are closed in response to the unfolding coronavirus emergency.
In Detroit, the owners of MotorCity Casino said that they are hopeful the temporary shutdown of the city’s gambling venues will “have a positive impact on stemming the tide of Covid-19.”
The owner of MGM Grand, Las Vegas casino powerhouse MGM Resorts International, is understood to have been in talks with other companies, including Amazon, to provide employees affected by its workforce cuts with temporary employment, while its gambling venues stay shut.
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Colorful reels are not the only aspect that get’s considered when picking the best online slots for New Jerseyans!
In fact, you are probably wondering what is it exactly that we look at before suggesting a slot to you.
Without further ado, we present to you the criteria slots needed to meet to make it to the best online slots NJ list:
Available to play and legal in New Jersey. The first and the most obvious criteria if a slot is to make it to the list of the best slots to play in New Jersey online.
High RTP (return to Player). Most of the slots you’ll find here have RTP above 95.5%!
Offered by a reputable and trustworthy New Jersey online casino.
Bonus features. The slots you find here are packed with free spins, bonus rounds, and other perks!
Visuals and soundtrack. Yes, those do matter! And while it is pretty subjective, we tried to pick slots that would provide high quality visual features and entertaining soundtrack.
Top 20 Online Slots New Jersey: Reviews
It’s tough to pick a single slot from the list, isn’t it? That’s why we’ve done the research for you to know exactly what to expect from these slot games.
Read on to know more about the top 20 online casino slots featured by online casinos approved by the New Jersey Division of Gaming and choose the one that tickles your lucky stars!
Asian-themed slot games are known to have their fair share of luck, and Fu Dao Le brings it to New Jerseyans. This slot is best known for its famous red envelope jackpot that is featured in the game.
Created by Scientific Games Corporation, this slot has a very enticing RTP of 96%.
As is standard with most Asian slots, the 5×3 layout offers multiple ways for you to reel in winning combinations. Every spin can be played with as little as $0.38 to a maximum of $88.
While your luck might be at an advantage, in the end, its the unique features that count, isn’t it? This slot has the free spins, expanding wilds, mystery stacked reels, and red envelope jackpot features loaded to impress.
Land on a minimum of three scattered bonus symbols to trigger 8 free spins along with multiplier wins.
Are you a fan of modern graphics and cute animations in your slot games? Celestial King boasts a mythical theme and overflows with excitement.
Created and provided by an online gambling icon, this SG developed game is enticing to any player.
The fair RTP of 96% only serves as an attractive statistic for this slot.
Want to bet small? No problem, this online slot allows players to bet a minimum of $0.5 to a maximum of $80.
Running out of luck? No problem. If you ask players familiar with this slot, they would refer to the cute little Monkey King featured on the screen, as a lucky charm!
Wondering about the features? The most attractive feature is when you can Lock & Spin.
This feature transforms your entire window into a 25-reel array with a ton of winning combinations for you to make!
How cool is that!
Apart from the Lock and Spin feature, free spins, wilds, respins, changing reel sets, bonus games and jackpots are included in this slot.
Are you a fan of the original Pixies of the Forest game? The second edition of this game comes with every improvement to jazz up your playing experience, even more!
The tumbling reels featured in this IGT creation includes 3 progressive jackpots that you can win.
Played on a 5×3 layout, Pixies of the Forest 2 comes with 99 ways you can win.
You have a choice of paying anywhere between 33 cents and $99 per spin making it a versatile game for every kind of player.
The RTP of 96.7% is a massive improvement to this edition, especially when you have three progressive jackpots to claim.
The free spins feature is the one that is most enticing here, and you can take up to 2000x your stake value when playing.
For a game with medium volatility, IGT has ensured that the upgraded game has a high potential of filling up your kitty.
When game creators like NetEnt develop a game, you know that you are set for a one-of-a-kind adventure!
A beautifully designed slot featuring a tavern for beer guzzlers will appeal to anyone who fancies an occasional beer with their friends in downtown New Jersey. Finn’s Golden Tavern will soon be your favourite pub though as it has RTP of 96.1%.
The winning potential of 500x to 1000x your stake sounds like a steal of a deal, doesn’t it? Well, you’d be even more thrilled when you find out that the featured drunken Leprechaun slams his fist to reset all the screen when you don’t stay winning!
Wild bonus features and spiral spins on this 5×5 layout with cluster wins will pump-up your winning chances.
As a low to medium variance game, Finn’s Golden Tavern matches you with jugs and pitchers of beer to feel like a winner!
From your couch in New Jersey to buried treasures of the pharaohs in their tombs in a blink of an eye, only Pyramid: Quest for Immorttality slot makes that possible.
This great game has been designed and developed by the online gaming icon NetEnt and is loaded with prizes that you can unearth from the Avalanche feature.
Play with as little as 0.1 credits and enjoy multiplier wins, free spins, and a jackpot like you have never seen before.
A 3,600,000 jackpot sounds unbelieveable doesn’t it? That is exactly what awaits you in this low to medium volitality game with a 96.48% RTP.
Unlike other slots, you will need to make a pyramid formation on the 3-4-5-4-3 layout here.
With 720 betways, you are bound to stay winning, too.
Don’t be fooled by the simplicity of the reels and symbols on the High Voltage Blackout slot.
This Everi creation is a high powered game that revolves around the concept where you experience a blackout and need to restore power to the city.
Spin 5 reels on 3 rows loaded with stacked wilds, wilds, lightning multipliers and the Blackout Bonus feature.
There are 40 fixed paylines on the screen and you can bet anywhere between $0.50 to $300 to make winning combinations.
The stakes are high in this 95.94% RTP game thanks to the multipliers of up to 10x your stake and a respin features that gives you higher multipliers than your previous!
Enter a fantasy world of ancient South America when you play the Secrets of The Phoenix slot by Roxor Gaming at this New Jersey online casino.
This video slot game is a popular one that most NJ based online casinos have it on their trending list.
As an online slot that is based on fantastical themes, this medium variance slot game has an RTP of 94.98%.
The mystery and the cultural inspiration featured on this slot is enough to keep you entertained for hours with a minimum bet of .25 and up to 200 credits.
The game is presented on 5 reels with 25 fixed bet ways.
Every time you spin, you will need to bet on all the twenty-five lines making it a perfect opportunity to wager your bets.
If you are making the first deposit on an NJ online casino, you will benefit from any wagering requirements with this slot game.
With 500x your stake as a feature on this slot, you are bound to stay hooked.
Do you prefer progressive jackpots when you play at any of the NJ online casinos? Well, there is no way you would want to miss out on matching jackpot symbols for the four progressive jackpots in a single game!!
This Asian themed game is one of the most desired online slots NJ gambling sites feature.
Unlike the old standard of ancient Chinese online slots, this game has 243 bet ways and a 10 spin bonus feature that can get triggered at any time!
Your maximum bet limit is $88, making it perfect for any kind of player.
The 96% RTP and the high variance of the game only serves to attract more players to its reels.
Not many people will tell you about the golden nugget that Fortune Temple is to NJ online casino players.
Set in ancient South American themes, this Gamesys creation points players down the road to Eldorado.
Following the 5×3 layout, this game has an RTP of 95.62%.
Your wins are massive in this standard looking game because the high paying symbols like the mask or the lizard for up to 1000x your stake are easy to land here.
Yes, in Fortune Temple, the 25 bet ways is all you need to win.
Serious winnings are in your future when you see scratch cards take over slots on the NJ online casinos.
This NextGen created online slot game is a spell blindingly fantastic one that is based around three witches who live in a fairytale kingdom.
The big prize on Witch Pickings is scored when you stumble on the Ladder Bonus.
Place bets between $0.4 and $1000 in this fairy themed game with a medium-high variance and land three symbols on any of the 9 positions for awesome features.
The RTP of 95.8% comes from what players love about the 5000x multiplier win you can get on this online slot.
Its rainbows and butterflies in this upgraded game of Butterly Staxx.
There is more to the golden butterflies of Butterfly Staxx 2 because their rewards are just as golden!
This NetEnt created game has been considered as being the best on online gambling casinos.
NJ online casinos showcase this game because of its proud RTP of 96.37%.
As a low variance game, you have a 5×4 layout with 40 paylines that you can win from.
The amount you win on the paylines also matches the taste of avid players who place bets between $0.25 to $1,250.
Overall, this slot game is one that every kind of player enjoys for the unmatchable wins that you can take away.
FAQ
Is playing slots at an online casino legal in NJ?
New Jersey law allows for responsible online gambling – NJ gambling sites operate because they are legal.
How do I get free money to play slots online in NJ?
Several gambling sites offer free play features in NJ. Online casino free money comes in the form of first deposit bonuses and other promotional offers.
What are bonus codes available for players from NJ?
There are several benefits when you sign up with an online gambling website in NJ. Online casino bonus codes like first deposit bonus codes, weekly promotional bonus codes, welcome bonus codes, etc. are frequently available to players.
Can you win real money playing online slots in New Jersey?
Yes! You can win real money when you play the slots online in NJ. The New Jersey division of gaming allows players to enjoy entertainment in the form of gambling for real money in authorized online casinos.
Which online slots in New Jersey payout the most?
Several slots have a massive payout you can expect. Here are a few of them:
Divine Fortune
Pixies of The Forest 2
Starburst
Butterfly Staxx 2
I have been offered a code generator for a few dollars. Can I use it?
No! The Division of Gaming Enforcement ensures that the games on casino websites comply with the Fairplay policy and therefore any generators and hacks used on the game will result in drastic outcomes. Your account will be blocked, and any real money you have in your account will be forfeited.
I am under 21, and I really want to try one of the games. Can I?
No. All online gambling sites in NJ require that players are over 21 to be able to participate in table games, online slots and other betting as it involves real money. Responsible gambling is also to be followed as per DGE (Division of Gaming Enforcement) laws.
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