Massachusetts Casino Repeal Matter Approved by Court

Massachusetts Casino Repeal Matter Approved by Court

Massachusetts State Attorney General Martha Coakley opposed the repeal question, but says she welcomes allowing the voters to truly have a voice in the issue. (Image: Boston World)

In Massachusetts, casino companies have faced a series of battles so that you can build resorts in the state. There has been town-by-town campaigns to win over local communities, as well as in the case of the more Boston area, a intense competition for just one single license. Now, operators are going to have an additional challenge ahead of them 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 into 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 Puts Question on Ballot

The court reached their decision unanimously, pointing out that supporters of the repeal had succeeded in collecting more than enough signatures to put the question on the ballot. The effort was indeed compared by Massachusetts Attorney General Martha Coakley, now a Democratic candidate for governor, whom rejected issue this past year it could violate the property rights of casino owners and developers because she feared.

But after hearing of this decision, Coakley appeared become fine with all the Supreme Judicial Court’s (SJC) decision.

‘we am pleased that the Supreme Judicial Court has ruled on this problem of great interest to voters in Massachusetts,’ Coakley said. ‘ I am happy they have made a choice that now lets this go right to the ballot. So we are working these days to certify the concern.’

Coakley did include that she planned to vote against the proposition, as did Governor Deval Patrick.

‘It is what it is,’ Patrick said. ‘I’m going to vote for keeping expanded gaming on the publications. I think it is a great balance between exactly how we expand gaming and how we let our regional communities make decisions which can be suitable for them.’

Fierce Battle Expected

Polling on the issue is sparse so far. A Suffolk University poll earlier this thirty days found that only 37 percent of voters in Massachusetts approved of gambling enterprises, but another from the Boston world found that 52 per cent of likely voters would still vote against a repeal. The ground that is shaky which the casinos stands means that the repeal vote could drop to the campaigns on both edges.

While not all casino firms commented on the decision straight away, those who did stated that they would work difficult to convince voters to allow gambling enterprises be built. Mohegan Sun released a statement saying that they would show 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 will also be gearing up for a battle. That may mean that lots of neighborhood anti-casino groups are banded together to combat the high priced promotions the casinos are expected to run, with Repeal the Deal probably be a leading opposition group.

Bwin.Party Not on the market, Says Board

Chief executive of Norbert Teufelberger and his board deny rumors that the ongoing company is looking for a sell-off (Image:

Bwin.Party is denying rumors that it is searching for the purchase, or even to offer off a number of its assets. The business has been the subject of a flurry of speculation following articles this week by Bloomberg which claimed that it was looking to offer off all or component of its company in order to revive its flagging fortunes.

Bwin.Party, through its relationship with the Borgata, may be the provider that is largest 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 author of the Bloomberg piece, Christopher Palmeri, said that he had received the information from ‘two people with knowledge of this matter’ whom wished to remain nameless. Bwin.Party had hired Deutsche Bank AG (DBK) to think about its options, claimed the sources, and would make a decision within two months.

The company itself waded in to quash the rumors, stating categorically that the company is not for sale while Bwin.Party’s shares, which had been declining of late, climbed by 4 percent on the London Stock Exchange in the wake of the rumors.

No Plans to offer

‘The Board of Bwin.Party has noted the recent speculation in the media regarding a possible break-up or purchase of the company,’ read the business’s official statement. ‘Since his appointment as Chairman month that is last Philip Yea has been using the executive management team on ways where the Group can increase shareholder value, nonetheless 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 revenue, and added that the organization had been searching to ‘divest non-core and surplus assets.’

Palmeri also wondered whether or not the purchase of PokerStars to Amaya Gaming and its prospective return to the US market had rattled Bwin.Party. PokerStars, he wrote, ‘could accelerate the start that is wobbly online betting in three states, while introducing more competition for Bwin as well as others for the people gamblers.’

2013 A Turning Aim

However, Bwin.Party, itself the product of a merger between pioneering online sportsbook and poker sites Bwin and Party Poker, respectively, recently said that it was extremely pleased with its poker operations in brand new Jersey, and that it is looking to consolidate its market-leading position in there within the next 12 months, also as moving into other states that might legalize online gambling within their borders, such as for example Pennsylvania which it described as a ‘significant business opportunity.’

Talking in response to the company’s disappointing 2013, chief executive Norbert Teufelberger was recently upbeat: ‘2013 had been a challenging year for our business, but it also marked a turning point he said as we increased our focus on regulated and to-be-regulated markets, began to roll-out new and refreshed versions of our mobile and desktop products, and commenced the transformation of our technology infrastructure through the adoption of the Agile development methodology. ‘Having streamlined the design and size of our business we’ve the foundations to go back our company to sustainable growth.’

PokerStars Could Return to New Jersey Market by Fall

Founders Mark and Isai Scheinberg, whose treatment from the PokerStars equation may facilitate an entrance to the New Jersey market. (Image:

PokerStars’ carefully orchestrated sale to Amaya Gaming for $4.9 billion looks like it might well pay off for the entire world’s biggest poker site. The ink was still running down the page on that $4.9 billion contract when New Jersey gaming officials announced that they had met with representatives from Amaya, and this week they told the Associated Press that these were optimistic that PokerStars can be able to become listed on the New Jersey market because early as this autumn.

Documents in the Loop

Officials from the newest Jersey Division of Gaming Enforcement (DGE), which regulates and licenses gambling in hawaii, said that Amaya has begun submitting the documents that are necessary nj-new Jersey regulators to apply for circumstances license.

Into the coming months, the division are scrutinizing the post-acquisition corporate structure regarding the company, along with the executive and administration personnel while the software platform it self to produce sure it is in line with New Jersey regulatory standards.

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 dropped through, and months that are several the Atlantic Club was forced to file for bankruptcy and lay down its 1,600 staff. It was offered in December for $23.4 million, to be stripped for parts.

Federal Indictments

The reason why given for the deal’s collapse ended up being the concerns over outstanding indictments that are federal the company’s father-son founders, Isai and Mark Scheinberg. The indictments regarding PokerStars’ failure to cease gambling that is offering americans after the Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006 had made it illegal to do so. After Black Friday, PokerStars paid a $547 million fine to your Department of Justice, which it hoped would absolve the Scheinbergs, but the issue flared up again when PokerStars attempted to apply for a license in the run up to legalization.

On December 11, 2013, New Jersey’s Division of Gaming Enforcement (DGE) announced it would suspend its report on ‘Stars online gaming license for two years. The DGE said in a statement that may have inspired the acquisition strategy

‘The Division (within the period that is two-year may consider 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 associated individuals will likely be resumed to assess suitability.’

Resorts Deal

Having removed themselves through the equation by selling to Amaya, the Scheinbergs may at last witness the company they built go back to the US.

However, at least within the full case of the latest 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 brand. PokerStars features a deal in place with Resorts World, which owns the Resorts Casino resort in Atlantic City. That relationship will remain intact, inspite of the acquisition, and Resorts has said it intends to make use of both the PokerStars and FullTilt brand names should the outfit be provided with the ability to accomplish 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 ahead,’ said Resorts Casino Hotel owner Morris Bailey. ‘PokerStars could be the leading world-wide brand in online gaming and now we searching for forward to our future with them in New Jersey.’