Featured Articles Archive - Page 133

Karas placed in Nevada's Black Book

Legendary gambler Archie Karas, famous for once turning $50 into $40 million during an infamous Las Vegas hot streak in the 1990s, was placed on Nevada's List of Excluded Persons Thursday, better known as the Black Book.The Nevada Gaming Commission unanimously approved Karas — known by his given name of Anargyros Karabourniotis — onto the list for numerous transgressions against the casino industry...read more

Gaming commission approves $1.5 million fine for Caesars

With only brief discussion, the Nevada Gaming Commission on Thursday signed off on a $1.5 million fine agreed to by Caesars Entertainment Corp. for violating federal anti-money laundering programs at the company's Caesars Palace.Commissioners took less than 15 minutes to accept the penalty for a 15-count complaint that the gaming company agreed with in a stipulated settlement with the Gaming Control Board.Only Gaming Commission Chairman Tony Alamo Jr...read more

Top 10 moments from Phil Hellmuth's Reddit AMA

The world changed forever on Thursday, Sept. 17 at 11 p.m. EST, when the Internet was put under the spell of "White Magic."Phil Hellmuth's highly anticipated Reddit AMA ("ask me anything") was everything the poker community could have hoped for...read more

Dan's NFL Week 2 DFS GPP picks

In daily fantasy sports, the phrase "you win some, you lose some" won't get you very far in guaranteed prize pool (GPP) tournaments. In order to cash, you have to "win" on your drafted players a lot more than you "lose."Last week, I didn't win often enough...read more

Pala Casino launches iOS app in New Jersey

Just after Labor Day, Pala Casino quietly rolled out an iOS app, allowing people located within New Jersey to play its online casino games on their iPhone or iPad. Even Pala Interactive CEO Jim Ryan was surprised by how quickly players adopted it."We haven't marketed it in any meaningful way up until today, and our business is up 25%," said Ryan.That approach is changing as of today, however...read more

2015 WSOP Main Event November Nine Profile: Neil Blumenfield

Neil Blumenfield File Age: 61Hometown: San Francisco, CaliforniaPosition: 3rdChip Count: 22,000,100Career WSOP Cashes: 4 (no bracelets)Favorite Poker Book: Doyle Brunson's Super System: "I ordered the first edition from a magazine ad way back in the early '70s...read more

ESPN WSOP Main Event Recap: Episodes I and II

ESPN kicked off its coverage of the 2015 World Series of Poker Main Event on Monday night. Unfortunately for football fans looking for a break from the deluge of DraftKings advertisements they'd been overwhelmed with over the weekend, there was no respite...read more

California Assemblyman amends DFS bill

California State Assemblyman Adam Gray has amended legislation to regulate the daily fantasy sports (DFS) industry. The amended version of AB 1437, now titled the Fantasy Sports Game Protection Act, would require DFS sites to be licensed and regulated in the state.Oversight of the DFS industry would be handled by the California Department of Justice.Read and track the progress of AB 1437 here.The bill would require DFS businesses to pay a licensing fee to the state that would be credited against quarterly payments based on a percentage of the operator's gross revenue, though those fees are currently not specified.“We are still reviewing the bill, but we look forward to working with Chairman Gray in 2016 to educate him on fantasy sports and the benefits that our innovative technology provides to sports-loving residents and the California economy,” Paul Charchian, president of the Fantasy Sports Trade Association, told Legal Sports Report.California is now the 12th state in 2015 to consider daily fantasy sports legislation, according to Legal Sports Report...read more

Analyst: Potential MGM REIT not a good idea

One gaming analyst isn't waiting for MGM Resorts International to decide if it's a good idea to split off all or a portion of the casino company into a real estate investment trust.Susquehanna Financial Group's Rachael Rothman told investors there are better ways for MGM to grow profits."An MGM REIT would not garner the same valuation as its hotel REIT or regional gaming REIT peers," Rothman wrote in a research report last week.She cited MGM's geographic concentration — the company operates 10 resorts along the Strip — its $12.5 billion in long term debt, and the gaming industry's greater degree of volatility and cyclical nature as reasons against a REIT."MGM has significant upside," Rothman said, citing the company's resorts under development in Maryland and Massachusetts...read more

Caesars to pay $1.5 million fine for multiple errors

Caesars Palace maintained "highly deficient internal controls" inside the Strip resort's private gaming salons, had numerous lapses in its anti-money laundering program and didn't file suspicious transaction activity reports over a three-month period in 2012, according to a stipulated settlement the casino's management entered into with Nevada gaming regulators last week.Caesars Entertainment Corp...read more