Massachusetts Casino Repeal Matter Approved by Court

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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 really have a voice on the issue. (Image: Boston World)

In Massachusetts, casino companies have faced a few battles to be able to build resorts in the state. There have been town-by-town campaigns to win over local communities, plus in the way it is of the more Boston area, a competition that is fierce just one single license. Now, operators will need an additional challenge ahead of them before they can rest effortless: a statewide repeal vote that could end casino gambling in Massachusetts before it starts.

The Massachusetts Supreme Judicial Court ruled Tuesday that voters should be able to see the casino law repeal question on a November ballot, possibly rolling back a 2011 law that legalized casinos within the state. That move leaves potential casino operators in an awkward position, as they may receive licenses, but not know until later on this year whether they can actually do anything with them.

Unanimous Decision Sets 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 relevant question on the ballot. The effort was in fact compared by Massachusetts Attorney General Martha Coakley, now a Democratic candidate for governor, whom rejected issue last year it could violate the property rights of casino owners and developers because she feared.

But after hearing of the choice, Coakley appeared to be fine aided by 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 that they have made a decision that now lets this go directly to the ballot. And we are working these days to certify the question.’

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

‘It is really what it is,’ Patrick said. ‘I’m going to vote for keeping expanded video gaming on the books. I think it is a balance that is great exactly how we expand gaming and exactly how we let our regional communities make decisions being right for them.’

Fierce Battle Expected

Polling regarding the issue is sparse so far. A Suffolk University poll earlier this found that only 37 percent of voters in Massachusetts approved of casinos, but another from the Boston Globe found that 52 percent of likely voters would still vote against a repeal month. The ground that is shaky which the casinos appears means that the repeal vote could drop to the campaigns on both sides.

While not all casino firms commented regarding the decision straight away, the ones that did said that they would work difficult to convince voters to allow the casinos be built. Mohegan Sun released a declaration saying which they would explain to voters that the statutory law was ‘good for employees, good for the economy and good for the commonwealth.’ Penn National, which has currently won the state’s only slots parlor permit, stated they would also be doing an informational campaign.

‘it will be about informing voters about all the jobs that are at stake here,’ said Penn spokesperson Eric Schippers for us, this campaign will be about education.

Meanwhile, casino opponents are gearing up for a fight. That may mean that lots of local 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 bwin.party Norbert Teufelberger and his board deny rumors that the company is buying sell-off (Image: onlinecasinoarchives.com)

Bwin.Party is denying rumors that it is searching for an purchase, or to sell off a few of its assets. The business is the main topic of a flurry of speculation following articles this by Bloomberg which claimed that it was looking to sell off all or part of its business in order to revive its flagging fortunes week.

Bwin.Party, through its relationship with the Borgata, could be the largest provider of online poker in New Jersey, with over 40 percent of the market share, but its operations have been faltering in European countries recently. The writer of the Bloomberg piece, Christopher Palmeri, said that he had received the information from ‘two people with knowledge for the matter’ whom wished to remain nameless. Bwin.Party had hired Deutsche Bank AG (DBK) to consider 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 present speculation in the media regarding a possible break-up or sale of this company,’ read the business’s official statement. ‘Since his appointment as Chairman month that is last Philip Yea has been dealing with the executive management group on ways when the Group increases shareholder value, nevertheless we can verify that there are no plans to break-up or sell the company.’

Palmeri speculated in the Bloomberg article that the supposed sell-off had been prompted with 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 a number of markets’ for the slump in revenue, and added that the company had been looking to ‘divest non-core and surplus assets.’

Palmeri also wondered if the purchase of PokerStars to Amaya Gaming and its return that is potential to US market had rattled Bwin.Party. PokerStars, he wrote, ‘could accelerate the wobbly start for online betting in three states, while introducing more competition for Bwin and others for those gamblers.’

2013 A Turning Point

However, Bwin.Party, itself the product of a merger between pioneering online sportsbook and poker web sites Bwin and Party Poker, correspondingly, recently said that it would be trying to consolidate its market-leading position in there on the next 12 months, in addition to moving into other states that might legalize online gambling within their borders, such as Pennsylvania which it referred to as a ‘significant business possibility. so it was very happy with its poker operations in brand new Jersey, and’

Speaking in response to your company’s disappointing 2013, chief executive Norbert Teufelberger had been recently positive: ‘2013 had been a challenging year for our business, but it addittionally 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 come back our company to sustainable growth.’

PokerStars Could Come Back to New Jersey Market by Fall

Founders Mark and Isai Scheinberg, whose treatment from the PokerStars equation might facilitate an entry in to the New Jersey market. (Image: onlinpokerreport.com)

PokerStars’ carefully orchestrated sale to Amaya Gaming for $4.9 billion looks like it might well pay back for the planet’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 are able to participate the New Jersey market because early as this fall.

Papers in the Loop

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

The division will be scrutinizing the post-acquisition corporate structure of the company, as well as the executive and management personnel and the software platform itself to make sure it’s in line with New Jersey regulatory standards in the coming months.

PokerStars has very long held designs on the New Jersey market. In 2013, anticipating legalization and legislation within the state, its moms and dad company, the Rational Group, attemptedto buy the ailing Atlantic Club casino in Atlantic City, in purchase to secure the acquisition of the state gaming license, and from there, it hoped, a license to work online poker after regulation. However, the deal fell through, and almost a year later the Atlantic Club was forced to file for bankruptcy and lay off its 1,600 staff. It was sold in December for $23.4 million, to be stripped for parts.

Federal Indictments

The reason provided for the deal’s collapse was the concerns over outstanding federal indictments on the organization’s father-son founders, Isai and Mark Scheinberg. The indictments regarding PokerStars’ failure to cease providing gambling to American citizens after the Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006 had made it illegal to take action. After Ebony Friday, PokerStars paid a $547 million fine to your Department of Justice, which it hoped would absolve the Scheinbergs, however the issue flared up once more when PokerStars attempted to use for a license into the run up to legalization.

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

‘The Division (within the two-year duration) may think about a request 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 be resumed to assess suitability.’

Resorts Deal

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

However, at least within the full instance of the latest Jersey, it will likely be as a software provider, not an operator, much in the manner that 888 Holdings provides software to Caesars and the WSOP.com brand. PokerStars features a deal in place with Resorts World, which owns the Resorts Casino Hotel in Atlantic City. That relationship will remain intact, despite the purchase, and Resorts has said it intends to utilize both the PokerStars and FullTilt brand names should the outfit get the ability to do so.

‘We welcomed the recent announcement by Amaya Gaming Group, Inc of its plans to acquire Rational which we expect will move the regulatory approval process forward,’ said Resorts Casino Hotel owner Morris Bailey. ‘PokerStars may be the leading world-wide brand in on the web gaming and we are looking forward to our future with them in brand new Jersey.’

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