Lee Travino, who bet on himself to win the 1971 Open Championship at 14-1 and blew away the field. (Image: bahl.blog.blogspot.com)
The globe’s best golfers are up in arms this week at the Open Championship in the UK, where they have already been asked to sign a waiver to declare that they can maybe not place bets on the outcome of the championship. Betting is something of a tradition for many players at the Open, because, of course, sports betting is completely legal and readily for sale in Britain. At the 1971 Open, Lee Travino famously bet £100 ($171) on himself at 14-1, which helped him to almost triple his award money as he blew away the field.
However, for the first time at the Open, the R&A, the regulating human body of the game outside the US, has officially warned players that such behavior is now off-limits, even though it claims the rules have been around in spot since 2011. It absolutely was news to some. One player, who wished to remain nameless, told ESPN he was handed the waiver, while his caddy expressed his delight that the ban did not extend to caddies that he was ‘shocked’ when.
We sense way around the rules with that one.
’30 Guys in Violation’
Pro golfer Graeme McDowell gave a more measured and professional response, however, stating: ‘It’s really no various than what we curently have on the European Tour and PGA Tour, so it doesn’t change any such thing.
‘Honestly I love to gamble,’ he continued, ‘just not on golf!’ he added quickly, lest there were any representatives from the R&A in the vicinity.
Alas, though, it would appear that old habits die hard, as you anonymous player representative unveiled to ESPN: ‘There’s probably … at minimum 30 guys in violation [of the no-bet waiver] already,’ the origin unveiled, ‘and that number will be bigger by [the end of the week].’
The new regulations bring British golf in line with almost every other sport on earth, which tend to frown on players betting on the outcome of an occasion in which they’re participating. The English Football Association (FA) recently announced that, from the forthcoming period, all expert players in English soccer would be banned from wagering, not merely on competitions in which their team is included, as was previously the instance, but from all soccer matches anywhere in the world. The new hard-line FA rules could well be the catalyst that has prompted the R&A to clamp down on its players.
Maintaining Sport Clean
R&A CEO Peter Dawson said: ‘I can say that this whole business of keeping sport clean in terms of betting is quite high regarding the IOC’s agenda at the moment, the other that individuals’re following very closely as it’s simply a killer to sport to think that any outcomes might have been predetermined. And I really don’t think that’s applying in golf. But we have to be vigilant.’
Meanwhile, those of us whom are not golfers that are pro and who reside in countries where such practices are appropriate, we are free to wager on the results of the Open Championship to your heart’s content. And maybe not simply the outcome; many UK bookmakers are offering odds on any such thing from whether a player will make a cut to just how many bunkers he may hit.
In terms of an outright champion, Rory McIlroy is favorite ( at that time of this writing), at 5-1, in which he would appear to become a solid choice if he are able to keep his composure in advance, although a good outside bet might be Justin Rose at 16-1. He is been on a tear, having just won two tournaments on the bounce.
GTECH $4.7B IGT Acquisition to produce Gaming Superpower
GTECH’s $4.7 billion purchase of IGT will gain both businesses and permit for many corporate tax breaks (Image: gamblingnews.ca)
Two super heavyweights of the gaming industry are to merge in a $4.7 billion deal, as Italian company GTECH has announced its takeover of Las Vegas-based IGT this week, together forming the globe’s biggest end-to-end gaming company.
The 2 giants will combine to make a new company that is holding in the UK, with corporate headquarters in London and operating head office in Las Vegas, Providence, Rhode Island and Rome. It shall, nevertheless, be listed on the latest York Stock market. GTECH may also assume approximately $1.75 billion in existing IGT internet debt, making the total purchase price approximately $6.4 billion.
GTECH is the largest operator of lotteries in the world, possessing 63 per cent for the international lottery market. It operates in all continents and across 52 countries, using over 8,500 individuals. In 2012, it had revenues of €3.08 billion ($5.14 billion). It also owns the software that is iGaming Wagerworks.
IGT, meanwhile, may be the world’s manufacturer that is largest of gaming equipment, creating roughly 1 / 2 of all gaming machines in the usa. It has offices in 11 nations, but has recently reported a decline in profits and in March announced that it would be forced to lay off seven percent of its worldwide workforce to be able to save lots of costs.
Contract ‘Defines the long term of Gaming Entertainment’
The two companies state that the deal allows them to capitalize on opportunities across global gaming market and that the new group would be likely to experience revenues of over $6 billion with over $2 billion in profits.
‘We are exceedingly pleased to achieve a merger that is definitive with GTECH as a result of our exploration of strategic options to maximize shareholder value,’ said IGT CEO Patti Hart. ‘ This outstanding combination of two global leaders truly defines the future of lightning link slot grand jackpot gaming activity. Together we are uniquely placed to produce the industry’s broadest and most revolutionary portfolio of best-in-class items, solutions and solutions.’
For GTECH, the acquisition represents its arrival on the scene as being a major global player in the casino industry and can also enable it to build on its presence in the US video gaming market where it already runs lotteries. GTECH is dealing with far slow growth at home in the Italian market; based on Reuters, total net spending for video gaming in Italy fell 6.6 percent a year ago, while it rose 6.7 % in america.
British Corporate Tax Breaks
Relocation to the UK, meanwhile, provides a slightly more tax regime that is favorable. In accordance with The Wall Street Journal, the 2 businesses presently have an income tax rate in the high 30 % range which would fall to the mid-30s into the UK. The report notes that this is element of a trend where a company that is large usually US, will acquire an overseas company to be able to produce a new company that can relocate to a country where it’s going to pay less corporate tax, although in this case the reverse is true.
‘This transaction is transformational for our business.’ said Chief Executive Officer of GTECH Marco Sala. ‘With restricted overlap in products and customers, the combined company will enjoy positions that are leading all segments of the gaming landscape. It’s going to increase our global scale and with a full suite of offerings and robust customer relationships across the client range, the new company may have unparalleled abilities to deal with the ongoing convergence across worldwide gaming segments.
‘ Our expertise across these segments and greater capability to invest in R&D will improve player experiences and gain our government and business consumers. The transaction will significantly enhance our income and strength that is financial and provide clear and achievable expense and revenue synergies,’ Sala included.
MGM Anticipated to Receive Maryland Casino Approval
An MGM casino would be just the latest development at National Harbor along Maryland’s Potomac River. (Image: JonBilousBlog.com)
MGM Resorts has been making some big splashes on the East Coast, including gaining a permit to construct in Springfield, Massachusetts. Now, with one last approval from local regulators, MGM could see another complex built just miles from the country’s capitol.
The Prince George’s County Council is likely to vote on July 21 and only approving the construction of a $925 million casino complex in National Harbor, Maryland, just across from Washington D.C. within the Potomac River. The venue, which has recently received many approvals from local and county officials, is expected to be opened in July 2016.
Casino License Already Approved
This last approval will come just months after MGM received the last of six casino gambling licenses made available from hawaii of Maryland. Groundbreaking regarding the casino could take place because early as this summer, and the company has already started initial work on the site in anticipation of a smooth approval process.
The relatively easy regulatory procedure has been aided by the truth that little opposition has emerged to the task. Pretty everyone that is much happens to be up to speed with the casino, that is likely to bring significant financial advantageous assets to both Maryland and Prince George’s County.
Where there are disagreements, they have now been primarily predicated on the design of the casino, since well as what the community gets from the revenues it generates. Concerns were raised in regards to the large LED video screens that are to be integrated in to the signage for the casino, with some saying they are able to be a security hazard and distract drivers regarding the I-295 highway. But the local planning board approved them, agreeing that they were a significant part of business plus the casino aesthetic.
That issue may be the one hurdle MGM could have to clear at the County Council conference, as much locals have complained about the size and scope of the signs, some of that are as big as 60 feet high and 100 foot wide.
‘This is not Las Vegas,’ said William Cavitt, president of the Indian Head Highway Area Action Council. ‘It is not Atlantic City. It is not any other location where MGM is located.’
Latest Development at National Harbor
The proposition would put a major casino resort just mins from Washington. MGM plans to build a one million square-foot facility, one that could add about 3,600 slots and 140 table games. There would additionally be a 300-room hotel tower, high-end restaurants and retail locations, and a concert theater.
When approved by the County Council, MGM would then manage to request the necessary permits to begin construction.
The casino would join a small but development that is vibrant the banks of the Potomac River. National Harbor first opened in 2008, and additions to the site have been ongoing from the time. The location, which covers lower than two square miles, already possesses convention center and six hotels, in addition to numerous restaurants and shops. The Walt Disney Company has planned to build its hotel that is own resort National Harbor, but backed away from the concept in 2011.