Nevada Gaming Control Board Chairman AG Burnett is considering amendments towards the board’s regulations that will authorize wagering that is prepaid at Nevada casinos.
The Nevada Gaming Control Board (GCB) is calling in the state’s land-based gambling enterprises to adapt measures that are e-commerce make gaming more user-friendly.
On August 11, the GCB held a workshop that is public Carson City to receive input on possibly changing exactly how slots and table games accept bets in the united kingdom’s gambling capital.
At issue is the GCB’s own regulations and whether amendments should be implemented to allow casino patrons to gamble using accounts that are prepaid.
The board is considering allowing casinos to implement systems at their tables and machines that provide customers with the option to gamble with funds linked to loyalty cards in accordance with Nevada Senate Bill 9 passed in 2015 that pressured the GCB to adapt such regulations.
Regulation 5 and Regulation 5A are the two directions in question. The former formerly barred players from gambling on prepaid accounts, while the later authorized credited is the reason hawaii’s interactive gaming sites.
The proposed Regulation 5 includes ‘wagering account’ information and regulatory concepts overseeing how the cards would operate. The GCB dictates that a customer desperate to fund a commitment card account would require to first personally register in the casino with photo recognition.
‘It would offer patrons what they expect with the ability to fund gaming from sources they truly are increasingly convenient with,’ GCB Chairman AG Burnett told the Las Vegas Review-Journal.
Practice Made Perfect
Opponents to electronically linked gambling reports think the practice shall lead to higher incidences of issue gambling. But the wagering system being considered is far different from simply permitting players to gamble using their debit and credit cards.
In fact, account wagering is already being practiced in Nevada.
In addition to interactive online and mobile gaming accounts, Nevada sportsbooks presently allow bettors to create prepaid gambling cards.
The state legislature thinks the amendments will interest the technological millennial demographic and bring the Silver State’s casinos into modern times.
‘ The continued growth and success of the gaming industry into the State of Nevada will depend on the fostering of a small business and regulatory environment that encourages continued advances in the use of technology in gaming, which improves the entertainment experience, encourages innovation and supports expansion regarding the domestic technology sector,’ Senate Bill 9 states.
Though this indicates likely the GCB will soon adapt the gambling that is prepaid, Burnett said additional time becomes necessary before officially executing the modification.
Vital Endorsement
The Nevada Council on Problem Gambling lent its help of prepaid gaming accounts, though with a few conditions.
Executive Director Carol O’Hare stated signage that is appropriate the problems of problem video gaming should be prominently displayed in areas where gamblers would refund their electronic accounts. Casinos have actually long been forced to do just that near cages and ATMs, but O’Hare wishes the GCB to simply take additional measures.
‘It would appear that in 2016 as you adopt laws, procedures and rules for wagering accounts . . . some effort that is reasonable be produced to align the newest responsible gaming options to be consistent with the current stands.’
O’Hare said she looks forward to working with the GCB on the updated regulations and drafting language to mandate such problem gambling stipulations.
Six-Year Prison Sentence for Ex-CEO Kennon Whaley in Alabama, Gambled Away $100K in Insurance Funds
Former Alabama metal magnate Kennon Whaley is headed to jail. This week, the Auburn resident was sentenced to 72 months in federal jail, after he had been convicted in May for making use of an insurance coverage payment to cover down over $100,000 in gambling debts.
Previous Alabama metal business CEO Kennon Whaley will now see a lot of steel of the kind that is different after being sentenced to six years behind bars for insurance coverage fraud. Whaley used bankruptcy settlements to pay down gambling debts. (Image: insurancequotesfast.com)
Whaley was as soon as the CEO of Southeastern Stud & Components, A montgomery-based manufacturer of light gauge steel framing products. Founded in 1999, the company created $34 million in revenues in 2005 and employed 125 workers that are full-time.
But following the economic collapse in 2007, Whaley filed for Chapter 11 bankruptcy security in 2009. He received $260,000 in insurance claims, but instead of using it to aid in their business’ transition, Whaley proceeded a gambling binge.
The now 51-year-old visited the Wynn casino in Las Vegas, where he racked up a debt of $100,000. After utilizing the insurance cash to repay Wynn, Whaley returned to Vegas again, where he incurred another $20,000 loss.
Chapter 11 provides companies protection from creditors, but the bankrupt company must disclose all financial transactions. Not surprisingly, Whaley failed to stay glued to that condition.
‘ At that right time, Southeastern Stud had been still in bankruptcy and approximately 70 percent of its employees had lost their jobs,’ the United States Attorney’s Office for the center District of Alabama stated in a launch.
Paper Trail Proves Guilt
Whaley’s attorney said during his trial which he was an ‘absentee owner’ that wasn’t mindful regarding the business’s downturn. But when the going got tough, Whaley got using risky maneuvers.
According to court records, Whaley instructed a worker to falsify papers in a make an effort to conceal where the insurance payments disappeared to.
‘That’s the textbook concept of bankruptcy fraud,’ Assistant US Attorney Brandon Essig said.
The Strip resort cooperated with authorities to detail Whaley’s criminal activity while the Wynn likely wined and dined Whaley on his two high-roller visits. Records through the casino organized his jaunt that is four-day to City and show a man living the VIP lifestyle while his company was riddled with debt.
The US Great Recession that lasted from 2007 through 2009 presented a hard economy for businesses across the country. Chances had been stacked against many small and companies that are medium-sized but Whaley went to Las Vegas and found even worse odds for his money.
Ironically, Whaley writes on their LinkedIn profile summary, ‘HARD WORK WINS.
In Good Bad Company
Whaley isn’t the person that is first hit the casino floor with illicit funds of late, of course.
A year ago, former Oklahoma State Senator Rick Brinkley (R-District 34) was convicted of swindling $1.8 million from the Eastern Oklahoma Better Business Bureau to support his gambling habit.
And just last month, economic scam artist Andrew Caspersen pled guilty to utilizing a Ponzi scheme to swindle $38 million from investors to fund his gambling addiction.
Atlantic City Casino Revenue Soars in July, Borgata Enjoys Record Month
Atlantic City casino revenue jumped 6.9 percent in July compared to the same month in 2015. The city’s eight casinos still in operation pulled in $275.2 million, $17.7 million higher than a year earlier.
Atlantic City casino revenues were up at most properties myfreepokies.com during but Carl Icahn’s Trump Taj Mahal was an exception july. The casino that is long-troubled turn off permanently in less than 30 days following a long struggle with unions. (Image: Heidi Gutman/Getty Images)
The headliner for the revenue report is the Borgata Hotel Casino, which recently became wholly owned by MGM Resorts.
Atlantic City’s many profitable resort had its month that is best in its 13-year history. With gross revenues totaling $84.8 million in July, Borgata eclipsed its past record that is monthly took complete advantage of the an additional week-end and Independence Day holiday.
‘we are very pleased with a record-breaking month,’ Borgata Senior Vice President Joe Lupo told the Associated Press while we expected a good month with five full weekends.
Taj Mahal Trumped
Along with Borgata, four associated with other seven land-based casinos posted percentage gains in July. One that don’t wasn’t surprisingly the Trump Taj Mahal.
The Unite-HERE Local 54 union attack commenced on July 1 over health insurance and pension benefits at the formerly Trump-owned property. More recently purchased by the GOP candidate’s billionaire friend Carl Icahn, the casino tallied incomes of just $17.5 million, eight per cent lower than in 2015.
Icahn says he can end the casino’s 26-year run following Labor Day week-end. Video Gaming officials state the thirty days was positive, regardless of this statement that yet another Atlantic City casino is closing.
‘July had been a month that is solid also though several properties faced challenges including a strike by union employees,’ brand New Jersey Casino Control Commission Chairman Matt Levinson said.
Bally’s (4.8 percent) and Harrah’s (5.2 percent) had been the other two casino properties that posted losses in July.
Table games were the best performers percentage-wise, with a nearly $7.5 million comparative boost to $75.7 million. Slots still pulled in the vast majority of casino income per se, nevertheless, with a $182.2 million win.
Year-to-date, Atlantic City casino revenue is up 1.5 per cent, and a complete of 3.2 percent when the state’s Internet video gaming is factored in.
Online Gambling Strong
The long summer time month of July brought tourists and money to Atlantic City, but on line, the economy was additionally sunny.
Internet gaming totaled $17,368,984 during July. That’s a 38.6 per cent increase from 2015 and a new monthly high for that segment.
Borgata maintained its lead on the five casino operators involved in iGaming, but the gap is closing. Borgata’s online platforms grossed $3,971,138. The Golden Nugget, up 36 % in .
The online world gaming market in brand New Jersey is apparently going towards equal disbursement. Once dominated by Borgata, final month the stakeholder that is smallest was Resorts with $3,052,298, a positive change of less than $1 million. The Tropicana generated $3.24 million, while Caesars gathered $3.39 million.
Resorts has swiftly become a major player in New Jersey’s on line gaming sector. Many Thanks to the arrival of its poker network PokerStars, the casino climbed from $558,000 in revenue in July 2015 to $3 million month that is last.
The world’s internet poker operator that is largest hit the Garden State last March after a long vetting procedure by the New Jersey Department of Gaming Enforcement (DGE). It is presently battling neck-and-neck with WSOP/888 for the name of New Jersey’s online poker market leader.
Michael Phelps Finishes Olympic Profession With 23rd Gold Medal
The great one is finished. After 23 gold medals, American swimmer Michael Phelps states his career that is racing is. (Image: Clive Rose/Getty Images)
Michael Phelps has swum his last Olympic race. That is if you believe the athlete that is legendary.
Sixteen years since his first Olympiad and 28 medals later, Phelps says the 4x100m medley relay was the last leg in his storied career.
The most decorated Olympian in history, Phelps happens to be adamant in post-race interviews that he’s finished. He said the exact same thing following the 2012 London Olympics, but the 31-year-old says this time around is different.
‘Done, done, done, and this right time i mean it,’ Phelps told Matt Lauer. ‘I wanted to keep coming back and finish my career the way I wanted and also this was the cherry at the top associated with cake.’
With 23 gold medals, Phelps has 14 significantly more than any other Olympian. His 28 total medals are 10 more than Larisa Latynina’s 18, the second many Olympic that is ornamented athlete.
History into the Books
Nevada and Las Vegas got in regarding the game for the Olympics in 2016. For the first-time since 2000, sportsbooks offered lines on many different Olympic disciplines as a result of the Nevada Gaming Control Board amending regulations in 2015.
For the oddsmakers, that meant learning a host of unknown sports. But when it arrived to Phelps and the pool, the decisions were pretty simple.
In the event that you desired to win any substantial money without placing a substantial bet, you would require to go against Phelps.
Phelps won five of the six occasions he entered. He placed first in the 200m butterfly, 200m medley, 4x100m freestyle, 4x200m freestyle, and medley that is 4x100m.
He was understandably a heavy favorite at the publications in the Silver State. As an example, the 4×200 freestyle team event had been needing bettors to wager the maximum amount of as $700 on the US for a return of just $100.
The lone event he don’t win, the 100m specific butterfly, had Phelps listed at -140 before the sprint.
Those who bet on Singapore’s Joseph Schooling to win gold had been handsomely rewarded. A $100 bet for a Schooling upset of Phelps came back about $1,000 at most Nevada sportsbooks.
Lochte Robbed
Another swimmer that is americann’t have quite the same success in Brazil as Phelps. Ryan Lochte, a 12-time olympic medalist in his or her own right, had a notably disappointing 2016 Summer Games.
He took part in only two events, and while he had been part of Phelps’ 4x200m freestyle gold relay team, he failed to medal within the specific 200m medley.
Things only got worse after the summary of this swimming competition. Within the weekend, Lochte and several teammates were robbed at gunpoint by thugs in Rio de Janeiro.
‘We got pulled over inside our taxi and these guys came down with a badge, a police badge. No lights, no nothing, just a police badge. They pulled us over, they pulled out their weapons,’ Lochte told NBC.
‘And then the man pulled out his gun, he cocked it, put it to my forehead in which he stated, ‘Get down,’ and I place my hands up . . . He took our money, he took my wallet.’
Rio happens to be riddled with debate in its preparation and hosting of the 2016 Olympics. With six days to get until closing ceremonies, Lochte’s run-in with street criminals will have every person on an also greater alert.