Plainridge Park Casino Collects $18 Million in First Month

Plainri<span id="more-5846"></span>dge Park Casino Collects $18 Million in First Month

The Plainridge Park Casino had a very successful month that is first bringing in more than $18 million in revenue.

Massachusetts may still have a how to go before it turns into a casino gambling powerhouse, but their first entry into the field is off to a good start.

The Plainridge Park Casino, which features only electronic games, brought in $18.1 million in revenue during its month that is first of, though professionals cautioned that people numbers may decline a bit with time.

Critically, the profits mean that approximately $9 million can become being generated in income for state and governments that are local. That figure would put targets that are annual by officials well within reach.

‘The commission is pleased that these figures suggest that Plainridge Park Casino is on track to achieve their targeted range of $86 million to $120 million annually in contribution to aid that is local’ said Massachusetts Gaming Commission representative Elaine Driscoll.

Revenues In Line With Projections

Officials had projected that the Plainridge location would create about $200 million in revenue annually.

The figures through the first month would exceed that target by about 9 percent.

‘We are pleased with the July performance, which is consistent with expectations,’ Penn National Gaming’s Eric Schippers told the Boston Herald. ‘It typically takes three to six months through the period that is grand-opening begin to comprehend market trends, so we’ve only now started our marketing efforts in earnest.’

While that is cause for optimism, other people have remarked that there might be reason to think Plainridge’s long-lasting prospects are not quite therefore rosy.

Often there is the chance that the very first casino in the state is observed as a novelty, and additionally, there are questions regarding how Plainridge will do once the larger resort casinos with a wider variety of offerings are opened in a few years.

‘ One would expect Plainridge to excel into the beginning, but whether that levels off is likely to be the question,’ Boston College gaming specialist Richard McGowan told the Herald. ‘ whatever they require doing is build some kind up of loyalty to help keep people coming back after MGM’s Springfield casino and Wynn Resorts’ Everett casino open along with the bells and whistles.’

The $9 million that was generated in tax revenue will go to city primarily and town governments throughout the state. In addition, about some of the money will support the state’s horse industry that is racing.

Casino Makes Payments to Town

The casino has already began to gain the town of Plainville as well.

The other day, the casino signed over its first monthly check to its host community, part of $2.7 million in annual costs that will go to the town.

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The giant, ceremonial check was made out for $277,000; typically, the month-to-month re payments will be for $225,000, but this first payment covered both the ultimate week in June along with the month of July.

Impact on Local sales Seen that are lottery

Meanwhile, the Massachusetts Lottery continues to worry about the potential impact regarding the casinos on its sales throughout the state.

In accordance with officials, there has already been a decrease that is slight sales at areas that are within a 15-minute drive of the Plainridge Park Casino.

‘we have been still seeing numbers that are strong retail agents such as convenience stores and filling stations that carry our services and products,’ said Massachusetts Lottery Interim Executive Director Michael Sweeney. ‘Where we’re seeing some early decreases in that zone are in a lot more of your restaurant, bar, lounge-type of places.’

DraftKings to Expand into UK

Jeffrey Haas, the industry veteran that has been hired to oversee DraftKing’s International expansion. (Image: pokerstrategy.com)

Day-to-day fantasy sports (DFS) site DraftKings announced this week it has received a permit from the British Gambling Commission (UKGC) and intends to go live with A dfs that is uk-facing product the fourth quarter of the year.

Last month, the Boston-based start-up was able to raise almost $300 million in funds to aid its planned international expansion, with around $150 million of the originating from Fox Sports, for an 11 % stake in the company.

DraftKings said that it intends to move into Europe, Asia, and Latin America during 2016, and has hired Jeffrey Haas, previously of PokerStars and bwin.party, to oversee the expansion.

‘DraftKings is well-poised for explosive development internationally, and we am excited to lead their expansion efforts,’ stated Haas, that will be based in the new London office. ‘Daily Fantasy Sports is a category that is growing North America, and now we have tremendous possibility to engage activities fans worldwide.’

New Concept for Brits

The move in to the UK is an interesting one.

While the country has perhaps one of the most developed gambling markets within the world, the DFS concept will be a completely new one there.

DFS allows customers to bet on teams or activities players during a given day, earning points in line with the performance of their picks. Users with many points at the end of the day money out.

This is really a various prospect to regular fantasy sports, which offers games that generally last a whole period.

These are already popular in the UK, particularly fantasy EPL soccer, although few of the major British gambling operators offer them for cash.

DraftKings already offers regular Fantasy Soccer, and will no question hone this product for great britain market, along with introducing more UK-centric sports, such as for instance rugby and cricket.

‘ We are going to add new activities and games to our burgeoning roster of offerings and further connect fans to their favorite teams and players,’ confirmed DraftKings Chief Executive Officer Jason Robins. ‘We also welcome the chance to forge partnerships that are new leagues, teams and news outlets internationally once we have done with exemplary success in america.’

Will the UK Bite?

Whether DFS will have the same type of huge impact as it has been doing into the US, in a market where ındividuals are absolve to bet on real-life sporting outcomes, continues to be to be seen.

For several Americans, DFS could be the closest they have to placing a sports that are legal, while for the British, who is able to place bets from their cell-phones at the touch of a button whenever you want associated with the day or night, it will likely be just another gambling product, albeit a highly engaging one.

Just What’s clear is that while DFS operators into the US argue that their products are ‘not gambling,’ therefore justifying their exemption from UIGEA, into the UK, and most likely elsewhere, there clearly was no equivocation, and a full gambling permit is required.

Borgata Responds to Ivey Countersuit

The Borgata has filed a reaction to Phil Ivey’s countersuit in the ongoing drama that is legal his 2012 baccarat wins during the casino. (Image: Las Vegas Review-Journal)

The Borgata Hotel Casino & Spa in Atlantic City has responded to a countersuit filed by professional poker player Phil Ivey, saying that their destruction of cards utilized in his controversial baccarat sessions were destroyed before the casino became aware that any such thing dubious may have occurred on those dates.

The response comes after lawyers for Ivey and Cheng Yin Sun filed the countersuit alleging that the Borgata had intentionally destroyed the cards to be able to undermine his defense.

The dispute has ended four sessions that took place at the Borgata over the course of several months in 2012.

Ivey and Sun played baccarat in A vip that is private area winning a total of $9.6 million from the casino through the visits.

Borgata Becomes Suspicious After Crockfords Incident

The Borgata paid Ivey their winnings without incident.

But when Crockfords, a casino in London, refused to pay Ivey after he likewise won millions playing baccarat using them, the Borgata took notice and sued Ivey so that they can recover their losses.

The dispute is over Ivey’s use of a technique known as edge-sorting, one that is either an advantage play or a form of cheating, depending on who you ask in both cases.

Interestingly, the facts in these situations are hardly in dispute by either part; it is definitely a matter of exactly how those things of the casino and Ivey must be interpreted.

In the baccarat sessions, Ivey and Sun asked the casino to use a really certain set of playing cards manufactured by Gemaco. Additionally they requested that the games be played with a shuffler that is automatic.

The casinos consented to these conditions, and were similarly compliant when Ivey asked dealers to turn the high cards in the shoe 180 degrees, ostensibly for superstitious reasons.

Whatever they did not realize was that the Gemaco cards under consideration were imperfectly cut, allowing Ivey to determine which cards have been turned while looking at them face down.

Knowing whether individual cards had been high or low ended up being enough to offer Ivey a significant advantage over the casino. In a single session that is particularly successful July 2012, Ivey won $4.8 million through the Borgata within the course of 17 hours.

Countersuit Alleges Deliberate Destruction of Proof

The defendants filed a countersuit, saying that the case should be dismissed due to the fact that the casino had destroyed the cards used in the games after the Borgata sued Ivey and Sun. They also sought fees that are legal damages under laws linked to the filing of frivolous lawsuits.

But within their response, the Borgata says that the cards were destroyed as a matter of due course, which took place before there was clearly any dispute within the baccarat winnings.

‘Some of the cards used into the play at issue in this case were destroyed in the regular length of plaintiff’s company operations, prior to plaintiff’s becoming aware of defendants’ scheme and the defect in the playing cards, and pursuant to applicable regulations,’ the response read.

Lawyers for the Borgata also state that Ivey and Sun cannot recover damages because of the ‘fraudulent conduct,’ and say that the statute of limitations has expired regarding the allegations the defendants are making.

Ivey is also involved with a similar lawsuit against Crockfords, in which he sued the casino in an effort to force them to pay him his winnings. While courts initially ruled in favor of the casino, an appeal is expected to be heard later this year.

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