Category Archives: Lucky Nugget Casino

Florida Gambling Study Gives Vague Answers



Is Florida ready for more games of chance? A new commissioned study says, ‘Why not?’

Florida is currently one of many more states that are active it comes down to gambling. There are casinos, racetracks, and jai alai frontons, and many of those venues look likely to see slot machines coming to them in the future that is near. And that’s ok, according to a fresh report that says such an expansion might have only a ‘minimal’ impact on hawaii from both an economic and perspective that is social.

Effect of Gambling Examined

That has been the biggest finding from a report by the Spectrum Gaming Group, a New Jersey-based research firm that performed the analysis on behalf of the Florida Legislature. The report cost $400,000 to complete, and was taken in order to weigh the impact that is potential costs of expanded gambling in the Sunshine State.

In accordance with the report, those impacts would be little.

‘The expansion of casino gambling, whether on a tiny scale or very major, would have, at best, a moderately positive effect on the state economy,’ the report stated.

That conclusion isn’t more likely to excite or infuriate anybody. But more interesting, perhaps, ended up being information gleaned about Florida’s present gambling market.

Based on the report, the average gambler that is floridian about $866 each year on gambling. This is approximately 16% less than the average that is national. Still, Florida residents account for about 93 Continue reading

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Japanese Casino Legislation On Target; Organized Crime Gets Shut Out It’s been years in the making, but Japan spurred on by the promise for the 2020 Tokyo Summer Olympic Games appears to be finally creating a push that is real legalizing land gaming within the island nation. Information reports from Reuters state a draft that is solid of gambling policy has been put together, and Japan’s Diet (parliament) may be reviewing before year’s end for very early 2014 passage, Jesus willin’ and the crick don’t rise. Baby Procedures Towards Legalization At Last Whether or not that happens on routine, however, it would take another two years for the legislators to drum up a more in-depth regulatory overview, which often would at long last open the road towards bonafide legal casinos to start being built. The objective, of course, being to possess everything up and ready to roll with time for those all-important tourists to manage to drop some chunks of change once they come to Japan for those summer games. As we’ve been ad that is seeing of late, corruption, crime and gambling appear to often sleep in the exact same sleep together, and with an eye towards trying to stem that tide before the tsunami comes in, Japanese lawmakers are building some interesting safeguards in their casino regulations. Included in these are producing an independent gambling regulator that would in turn oversee the license application procedure, since well as making it mandatory for any licensees to really have a decade’s worth minimum of their tax, banking and credit information on almost all their top-level executives readily available for review. And not soleley the execs that are actual but all the executives’ family members is likewise scrutinized, presumably so there is no-one to hide anything by putting it in a spouse’s or sibling’s or son’s or daughter’s title. Oversight Group Will Be Cabinet-Level The regulatory body is likely to be set as a de facto case group, aided by the aim it not beholden to any particular Japanese ministry in its dealings for it being to make. That, in turn, is designed to minimize the possibility for graft or coercion by some of the Japanese mob: the so-called ‘Yakuza’ organized crime syndicates whom might try to obtain their arms into the casino cookie jar. In presenting the plan’s ideas, legislators said the overall idea is to make sure ‘the hurdles to enter the company is set high … With proper regulation and enforcement … there is absolutely no reason for gambling enterprises to become hotbeds of unlawful activity.’ Also in the start-up proposal that is regulatory demands limits become set on exactly how many gambling enterprises can be approved within the initial phases, to ensure that regulations will be enforced and the general impact of these entities on the population at large can be assessed. And while the most obvious choices of major centers that are metropolitan as Tokyo and Osaka will in all probability be the very first locales for these new legal gambling enterprises, there are also provisions within the plans to ensure that some smaller cities could additionally be taken into consideration for future tasks. Buyers and Sellers Dance the Dance with Atlantic City gambling enterprises Everybody wants a bit of Atlantic City’s casinos these full days, it appears Ah, the Atlantic Club in Atlantic City: the lady that everybody wants to rest with, but no one will marry. This New Jersey land gaming joint keeps on finding brand new suitors, however, and now a brand new one has popped through to the horizon: a local attorney-slash-entrepreneur, George Miller, who’s developed an investment group aided by The Flynn Company CEO Kevin Flynn of Philadelphia. Apparently, this estate that is real are eyeing all forms of East Coast casinos, with the goal of firming something up before New Year’s 2014 strikes midnight on the clock. Atlantic Club Just One Contender While Miller won’t come right away and state who is searching like they’ll be getting a diamond just yet, he did inform the Press of Atlantic City his group hasn’t eliminated the Atlantic Club being a contender, but that they were ‘looking all over the spot’ for just the right spot to make their deal. The situation is created a bit more interesting in that both Miller and Flynn hold really small stakes in A pennsylvania that is caesars-run property albeit merely a 0.25per cent stake each. Press of Atlantic City interviewer Donald Wittkowski implies that this alliance that is minor help the duo, as Caesars has four casinos in Atlantic City and could be willing to part with one. You might recall that Caesars’ international debt-load is sky-high, and some cash right now might be over welcomed as some of their notes are coming due in 2015. Rumors are that possibly Trump Plaza, Golden Nugget and Revel along side Caesars’ Showboat might all be getting glances that are sexy Miller and Flynn right now. Lots of Inventory Up for Grabs It looks like it is a sellers market these days, however; additionally in line to buy something in Atlantic City most likely to then get constantly in place getting a gaming that is interactive for AC’s imminent Internet launch are outfits like PokerStars, possibly Kentucky’s Churchill Downs horse racing operation, as well as Philly’s SugarHouse casino owners are considered seeking to expand in to the Atlantic City market. British operators 2UP Gaming is additionally reported become interested in AC, backed apparently by an unnamed mogul that is asian. The Plaza (which killed a potential deal with the West Coast’s Meruelo Group for $20 million when the casino’s main mortgage holder Carl Icahn said ‘I don’t think so’ to the low-ball offer), as well as the Golden Nugget and poor ol’ Revel, which just can’t seem to stand up, it’s so debt-heavy at the top among the properties letting it be known they could be available for the right price are the now-infamous Atlantic Club. Needless to say, you might wonder why a town whose casinos are doing so generally awful into the net profits division has been therefore eagerly courted by many these days, and the answer that is obvious both the interactive gaming potential (you can’t get an online operator’s license without having a land casino) too as the seemingly vague potential for the legalization of sports betting in Atlantic City’s land gambling enterprises, that has been shot down more times than an Iranian war air plane over the White House. Regardless, Miller claims his investment group is doing its due diligence about this market. The past few years, he states he sees ‘a lot of good in the horizon. despite Atlantic City’s crappy profit ledgers’ Caesars Entertainment Rearranges Deck Furniture for Debt Restructuring Caesars Entertainment is doing lots of restructuring, but will it help their economically ship that is sinking? Can this amount of Titanic debt be salvaged from dragging the ship towards the base associated with the monetary ocean? That is the question being asked as Caesars Entertainment Corp. put Planet Hollywood one of the kingpin Las vegas, nevada Strip properties in to a new holding company, along with the Interactive Division and the still-being-built Horseshoe Casino Baltimore. The organization has instructed its shareholders they have only until Oct. 17th getting in on a stock fire sale to generate $1.18 billion in much-needed money infusions as well. And also you thought your storage sales were busy. Shareholders Should Buy Stocks First The Securities and Exchange Commission (SEC) filing made by Caesars announces that shareholders are certain to get first dibs on one share each of the brand new Caesars Acquisition Co. (CAC) for every single share associated with parent that is existing they own. This restructuring has been within the works since this past Spring, and ended up being formally authorized by the Nevada Gaming Control Board in July. Under the restructuring, the newly created CAC will be a partial owner of the also newly created Caesars Growth Partners, and along with Caesars Entertainment (are you dizzy yet?), the new entity will obtain Planet Hollywood, the Baltimore under-construction property, and Caesars Interactive Entertainment, which, of course, spearheads the World Series of Poker (WSOP) a real income online poker brand that just recently established for Nevada Internet players. Now you might think the idea of all this fundraising is to pay the company down’s massive existing debt, but apparently, they have been studying the White home financials, because they do say the raised funds will go towards new casino jobs in the U.S., in addition to more online development, together with 888 Holdings, to get a few on-line casino internet sites up and rolling in New Jersey when that state goes online on November 26. They must be in a pissing competition with Obama for the greatest achievable debt ceiling. Gambling’s Highest Debt Load Think we are kidding? Caesars has the dubious honor of keeping the casino industry’s highest-ever long-term financial obligation load at $23.5 billion. In early 2014, they will execute a refi of about $5 billion of that, and got about $200 million towards that amount in a stock sale already. This debtload that is somewhat scaryn’t be seemingly deterring anyone from teaming up with the gaming behemoth though; Detroit-based Rock Gaming is in on a joint venture with Caesars to own and run the $400 million Horseshoe Baltimore once it’s completed and prepared to open in 2015. And Suffolk Downs Racetrack in Boston has gone into partnership with the company since well, as they make an effort to manage to get thier $1 billion casino project accepted and built in Boston in Massachusetts’ Battle associated with the Casino Giants game. Looks even Caesars Deputy General Counsel Michael Cohen isn’t completely sure about this restructuring gameplan, nevertheless. ‘Compared to our capital structure, that’s not a change that is big’ he told the Nevada Gaming Control Board about the organization’s spinoff concept when they signed down on the plan in July. ‘Caesars features a great deal of debt. We think it is manageable, but others disagree.



It’s been years in the making, but Japan spurred on by the promise for the 2020 Tokyo Summer Olympic Games appears to be finally creating a push that is real legalizing land gaming within the island nation. Information reports from Reuters state a draft that is solid of gambling policy has been put together, and Japan’s Diet (parliament) may be reviewing before year’s end for very early 2014 passage, Jesus willin’ and the crick don’t rise.

Baby Procedures Towards Legalization At Last

Whether or not that happens on routine, however, it would take another two years for the legislators to drum up a more in-depth regulatory overview, which often would at long last open the road towards bonafide legal casinos to start being built. The objective, of course, being to possess everything up and ready to roll with time for those all-important tourists to manage to drop some chunks of change once they come to Japan for those summer games.
As we’ve been ad that is seeing of late, corruption, crime and gambling appear to often sleep in the exact same sleep together, and with an eye towards trying to stem that tide before the tsunami comes in, Japanese lawmakers are building some interesting safeguards in their casino regulations. Included in these are producing an independent gambling regulator that would in turn oversee the license application procedure, since well as making it mandatory for any licensees to re Continue reading

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Neighborhood Culinary Union Berating Cosmopolitan Tourists in Nevada



Several video clips have been posted on You Tube that show Las Vegas culinary union employees berating tourists (Image source: FOX News)

UPDATE: October 25, 2013 After the release of these videos where Culinary Union Local 226 users were seen regularly throwing epithets and verbal abuse at tourists entering the Cosmopolitan the union’s protests have already been put on hold until Nov. 1. The group encompasses some 55,000 bartenders, maids and food servers in Las Vegas, and happens to be at chances about dilemmas such as for example health care, job security, compensation and even successorship, ie., what are the results if Cosmopolitan gets sold to another company by Deutsche Bank at some point.

The protests have been costing taxpayers an average of $2,600 in extra authorities patrols, based on the Alliance to Protect Nevada Jobs, a group that is dedicated to placing an end to the union’s assaults on tourists.

Union organizers say they will resume the actions on Nov. 1, but.

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If you are a tourist that is typical into Las Vegas, you’re most likely prepared for some financial losses, maybe some fat gain from all the fabulous eateries, potentially a taxi driver whom might drive you (illegally) from your means. But what you are actually most likely not prepared for is being yelled at and called derogatory names simply for entering a very casino that is upscale like, state, The Cosmopolitan Continue reading

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New Jersey Sports Betting Law Defeated Once More in Appeals Court Governing



Nj-new jersey Gov. Chris Christie ended up being gung-ho on sports betting for his state back 2011.

New Jersey has lost again in its bid to be the state that is first introduce legalized sports betting since the government cracked down in the practice over 20 years ago. A federal appeals court said that the state law New Jersey happens to be trying to put in training is trumped by a law that is federal outlaws the practice.

Predictable Outcome

The decision wasn’t at all a surprise in many ways. Whenever brand New Jersey passed the newest Jersey Sports Wagering Law in 2011 after a voter referendum, it was clear that the state ended up being set for a battle with several opposing factions. Once Governor Chris Christie signed the bill into law year that is last it absolutely was just a matter of time before several major sports organizations would challenge it. As expected, the National Football League, Major League Baseball, National Basketball Association, National Hockey League, and the NCAA all sued their state.

The case that is initial heard in March of this present year. A federal judge said that the state could not legalize sports betting, citing the Professional and Amateur Sports Protection Act (PASPA) at that time. Passed in 1992, that act officially outlawed activities betting in all states that had not legalized the practice by January 1, 1993.

Based on the state of the latest Jersey, ho Continue reading

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