Monday, April 7, 2014

Future of Online Poker in U.S.

The Future of Online Poker in the U.S. -- Is Your State Next?


When Internet poker went live in New Jersey, Nevada and Delaware in 2013, it appeared that it was just a matter of time before other states would follow suit and legalize too, leading to the eventual acceptance — or so poker players hoped — of online poker throughout the U.S. That has yet to happen. Although there is some form of gambling in 48 of 50 states (excluding Utah and Hawaii), and the legalization of online poker certainly seems like a logical and, some would say, inevitable progression in an age when most businesses and governments have learned to either embrace the Internet or be left behind, the domino theory has yet to take effect. The question is why?

True, 11 U.S. states have given it some level of consideration. Yet, three months into the year, with many of these states facing budget constrictions and looking for ways to increase tax revenue, what is already clear is that none of them will be passing legislation to license and regulate online poker in 2014.

"It's likely going to take years for other states to join us," says New Jersey Sen. Ray Lesniak, who led the charge for Internet gaming in the Garden State and has a current bill looking to allow foreign players in legal jurisdictions to play on Atlantic City sites. "That's why I'm pushing for us to get involved in the international market, where it's already well developed. I believe there is greater potential there than in the U.S. market at this time."

Has the state race stalled after one lap? In this article, PokerNews will examine the main issues standing in the way of states following the first three into online gaming with insights gleaned from speaking to representatives from four of the states looking hardest at legalization — California, Pennsylvania, Illinois and Mississippi...


Cha Cha Changes

Photo: My new home!Life changes, they happen. Shit just happens at points in time.

I had been single for about ten weeks after an eight year relationship, and I have officially landed in BELLEVEGA$.

Life in Belleville. First things first, our house is not haunted. It is safe for overnight guests and I got an itch that needs to be scratched. And I am excited about getting back out there again.

Wing Man Supreme. Big Nick Constantin. This house belongs to Nicky and it comes with a $50K in ground pool. In fact, he has an extra lot off the back of the property which is like our very own park in the downtown of the city. There's a gym in the basement
and there are three little ankle-biters - Lilly, Buddy and Bootsie.

The plan for the Summer. Online Poker. WSOP Vegas. Pool Duty, some golf and Cardinal baseball, pool parties, Sticky Icky, skirts and boozing. Can you smell just another "Scotty Mid-Life Crisis" on the horizon? Yeah. Me too.

Wednesday, April 2, 2014

Tropicana Now Owns Lumiere

Tropicana Entertainment Inc. Announces Completed Purchase of Lumiere Place Casino & Hotels in STL


LAS VEGAS, April 1, 2014 /PRNewswire/ -- Tropicana Entertainment Inc. ("Tropicana") announced today that it has completed its acquisition of Lumiere Place Casino, HoteLumiere, and the Four Seasons Hotel St. Louis ("Lumiere") from Pinnacle Entertainment for a purchase price of $260 million. With the acquisition, Lumiere becomes the ninth casino property in Tropicana's portfolio, joining the company's gaming resorts in Indiana, Louisiana, Mississippi, Nevada, New Jersey and Aruba. With its prime downtown location, Lumiere becomes Tropicana's second-largest casino property, after its flagship Tropicana Atlantic City Casino and Resort. The property will remain under the Lumiere brand.          
"We are incredibly excited to add this magnificent St. Louis property to Tropicana's portfolio." said Tony Rodio, the company's President and Chief Executive Officer.  "We are very much looking forward to becoming part of the St. Louis business community and working with the city and state as we operate Lumiere into the future.  We would like to thank Mayor Slay for his support in welcoming Tropicana to St. Louis and the Missouri Gaming Commission for its expedited review of our gaming applications," said Rodio. Lumiere will participate in Tropicana's Trop Advantage customer loyalty program.  Lumiere customers who have previously earned rewards points at Lumiere will be able to join Tropicana's Trop Advantage rewards program and Tropicana will honor all rewards points previously earned at the property by Lumiere customers. "Lumiere customers are Tropicana's customers, and we welcome all Lumiere customers to the Trop Advantage program," said Rodio.
Tropicana is a publicly traded company that, through its subsidiaries, owns and operates nine casinos and resorts in Indiana, Louisiana, Mississippi, Nevada, New Jersey Aruba and now Missouri. Tropicana properties, including Lumiere, collectively employ approximately 7,800 employees and have approximately 6,500 rooms, 8,900 slot positions and 273 table games. The company is based in Las Vegas, Nevada.
Cautionary Note Regarding Forward-Looking Statements. This press release contains statements relating to the Company's plans, objectives, expectations and intentions, events and plans that are forward-looking statements. Forward-looking statements represent the Company's estimates and assumptions only as of the date of this press release.

Such statements include, without limitation, statements regarding the Company's purchase of Lumiere from Pinnacle Entertainment, Inc., the anticipated benefits to the Company of such acquisition, the Company's expectation regarding the St. Louis, Missouri market, and any statements regarding participation in the Trop Advantage customer loyalty program by customers at Lumiere. These forward-looking statements are based upon assumptions made by the Company as of the date of this press release and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, without limitation, that the Company may not realize the anticipated advantages of the acquisition, including any anticipated cost efficiencies and synergies, that the Company may experience difficulties, delays, and/or unanticipated costs in integrating the acquired business with the Company's ongoing  operations, and the additional risk factors described in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any duty to provide updates to any forward-looking statements made in this press release, whether as a result of new information, future events or otherwise. SOURCE Tropicana Entertainment Inc.  
Copyright (C) 2014 PR Newswire. All rights reserved

Friday, March 28, 2014

Markup, Math and Monkeys

My falling out with Will Souther AKA PokerMonkey became public -- in his blog. His blog, his choice. One could say our falling out was over math. Specifically, his failure to understand some basic accounting principles and math logic. A friend then alerted me to the Souther Facebook post above. Three hundred and thirty-seven (337) comments on a Facebook post?

Math is over-rated. And if you love drama, this monkey is your guy. Like a Carnival Barker...he offers games of chance...lathered in drama...doomed staking offers for his customers. "Step right up."

Here are the cliff notes for this comment section: Souther posted his offer to sell shares of himself (specifics above). Facebook member Hunter Moss -- a guy who is not a friend of Souther's chimed in with the comment "nice scam". And so it began. Poker Monkey AKA The Carnival Barker took over -- and he had poor Hunter back-pedaling. Hunter even apologized. Then a young pro named Darren Rabinowitz chimed in -- and it gets good. The whole thing turns into a playground debate. In one corner you have the math team, the debate team and the science club -- and in the other you have the Carnival Barker, a dozen Monkey Minions and one pissed wife. I mean to tell you folks, you could not make this shit up.

Read the comments, it is better than reality TV. It was better than Jerry Springer meets Jersey Shore. This shit was gold. First. Yes. It is kind of fucked up people chimed in on his page and were not even his Facebook friends. And these "non-friends" can sell it as trying to "protect the poker community", but who buys that one? No one.

Their motivation was to "call a spade a spade." Poor Poker Monkey. The smart ass smart kids exposed him again.

There is no debating math with this monkey. After 337 posts, this monkey still did not understand what the number 1.67 represented. Why? He doesn't know math (or staking). The number represented the "markup" (or fee) the monkey was charging for his illustrious talent. For every dollar he spent on buy ins, he charged customers $1.67 per dollar worth of action. That simple. And when the smart kids lowered themselves to a monkey's level, the ape then threatened them. This is what 6 foot five inch 250 pound fat ass kids do in a playground argument. And it has been a vicious cycle (probably for decades) for this primate. His is a "Well, can you beat my monkey ass? Then I win the argument" mentality. Don't confuse him with facts.

The facts of the matter: Fact. The monkey can charge whatever price he chooses. In this instance, he retains 40% of his action and if he sells all 50 shares for $8000. The monkey realizes an instant profit of $3180 -- and in the form of equity in said tournaments. And this monkey claims his customers are "his friends" and loyal followers. I would hate to see what he does to strangers. These Einsteins bought $4820 worth the action for $8000. That is some kind of loyalty, and it is a price which can not be overcome long-term. This monkey can't play well enough to overcome that mark up. No one could. But the Carnival Barker cares not. He is after your hard earned dollar. And this says a lot about his followers -- they really need to get themselves a new hero.

"There's a sucker born every minute." This monkey knows full well what he is doing, and he knows a racket when he sees it. In fact, his whole life is a racket. And when confronted with the accusation he is running a racket, Poker Monkey plays dumb like he doesn't understand. The monkey doesn't want to understand. To understand would require accountability.

Who wants to admit they just made $3180 off loyal followers -- off their loyalty and gullibility? Not this Carnival Barker.

Thursday, March 27, 2014

Harrahs Tunica To Close

FROM WREG (CBS) MEMPHIS 03/26/14 (Tunica, MS) Gamblers who like to try their hand at Harrah’s Tunica were shocked to hear the casino’s luck has run out. Tunica’s largest casino will close June 2, putting 1,300 people out of work.

Representatives with Caesar’s Entertainment Corporation said business has not been good for a long time, and stiff competition from other casinos in the area is not helping. Frequent Harrah’s Tunica gamblers James Smith and Keyaria Felix are just two of the many customers who will soon have to turn in their chips and find a new place to place their bets.

“We’re going to have to find another casino to go to,” Felix said. “Hopefully, they’ll come up with a solution to keep it open.” The casino, hotels, and other attractions, including the golf course and RV park, will close their doors for good.

Caesar’s Regional President for the Mid-South Scott Barber explained, “This is a market that’s seen seven consecutive years of year over year declines from a revenue standpoint.” Caesar’s Entertainment Corporation owns Harrah’s and Barber said, unfortunately, this has been a long time coming.“ Caesar’s has been actively marketing this property for a potential sale for the past couple of years. Unfortunately, we haven’t found a suitable buyer.”

The company is billions of dollars in debt and has been trying to increase cash flow. Earlier this month, Caesar’s sold four of its other casinos – three in Las Vegas and one in New Orleans – to a subsidiary called Caesar’s Growth Partners. However, with no sale in sight for Harrah’s Tunica, more than 1,300 people will be let go.“ People from all over work here at this casino, and I just hate for that many people to be out of the job,” Smith said, shaking his head. “It’s just tragic.”

The company’s other two casinos in Tunica, Horseshoe and Roadhouse, will stay open. Caesar’s will give Harrah’s employees preference at their other properties, but right now, there are only 80 jobs open at Roadhouse and Horseshoe.“ After exploring every other viable alternative, we have come to the difficult but necessary conclusion to close Harrah’s Tunica in an effort to appropriately position our business for the current market opportunity and ensure the long-term viability of our remaining operations in the vicinity,” said John Payne, President of Central Markets and Partnership Development. “We are extremely appreciative of the enthusiasm, professionalism and commitment made by the employees of Harrah’s Tunica to provide outstanding service to our customers. We are determined to provide them with resources to help them in this transition.” According to Harrah’s, the facility has a 140,000 square foot casino and 1,356 hotel rooms and was built in 1996. The Fitz Casino, also in Tunica, was just sold this past Monday to a company called Full House Resorts.