Month Plainridge Park Casino Collects $18 Million in First

The Plainridge Park Casino had a very successful very first month, bringing much more than $18 million in revenue.
Massachusetts may still have a ways to go before it turns into a casino gambling powerhouse, however their first entry into the industry is down up to a good begin.
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 those numbers may decline a bit as time passes.
Critically, the revenues suggest that approximately $9 million find yourself 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 quickly attain their targeted array of $86 million to $120 million annually in contribution to local help,’ said Massachusetts Gaming Commission spokesperson 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 month that is first surpass that target by about 9 percent.
‘We are pleased with the July performance, which will be in accordance with expectations,’ Penn nationwide Gaming’s Eric Schippers told the Boston Herald. ‘It typically takes three to half a year from the grand-opening period to begin to comprehend market trends, and now we’ve only now started our marketing efforts in earnest.’
While that is cause for optimism, other people have actually noticed that there might be reason to think Plainridge’s long-term prospects aren’t quite therefore rosy.
There’s always the opportunity that the very first casino in the state is seen as a novelty, and additionally, there are questions on how Plainridge will do once the larger resort casinos by having a wider variety of offerings are opened in a couple of years.
‘ One would expect Plainridge to excel within the start, but whether that levels off is likely to be the question,’ Boston College gaming specialist Richard McGowan told the Herald. ‘ whatever they require to accomplish is build up some kind of loyalty to keep individuals coming back after MGM’s Springfield casino and Wynn Resorts’ Everett casino open with all the bells and whistles.’
The $9 million that was generated in tax revenue will go to city primarily and city governments throughout the state. In addition, about some of that money will support hawaii’s horse industry that is racing.
Casino Makes Payments to Town
The casino has already started to benefit the town of Plainville as well.
The other day, the casino signed over its first check that is monthly its host community, part of $2.7 million in yearly charges that will go to the town.
The giant, ceremonial check was made out for $277,000; typically, the monthly re payments will be for $225,000, but this first payment covered both the ultimate week in June as well as the thirty days of July.
Impact on Local sales Seen that are lottery
Meanwhile, the Massachusetts Lottery continues to worry about the potential impact of this casinos on its sales throughout the state.
According to officials, there has already been a slight decrease in sales at places that are within a 15-minute drive of the Plainridge Park Casino.
‘We are still seeing numbers that are strong retail agents such as convenience stores and gasoline stations that carry our services and products,’ said Massachusetts Lottery Interim Executive Director Michael Sweeney. ‘Where we are 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)
Daily fantasy sports (DFS) site DraftKings announced this week it offers received a permit from the British Gambling Commission (UKGC) and plans to go live with A uk-facing dfs product in the fourth quarter of the year.
Last month, the Boston-based start-up had been able to raise almost $300 million in funds to aid its planned international expansion, with around $150 million of this originating from Fox Sports, for an 11 per cent stake in the company.
DraftKings said that it intends to move into Europe, Asia, and Latin America during 2016, and has hired Jeffrey Haas, formerly of PokerStars and bwin.party, to oversee the expansion.
‘DraftKings is well-poised for explosive development internationally, and I am excited to lead their expansion efforts,’ said Haas, who’ll be based in the London that is new workplace. ‘Daily Fantasy Sports is a growing category outside North America, and we have tremendous chance to engage activities fans all over the world.’
New Concept for Brits
The move into the UK is a fascinating one.
The DFS concept will be a completely new one there while the country has one of the most developed gambling markets in the world.
DFS allows customers to bet on teams or recreations players throughout a given day, making points based on the performance of their picks. Users with probably the most points at the end of the day cash out.
This is really a various prospect to regular fantasy sports, which offers games that generally last a season that is whole.
They are currently popular within the UK, particularly fantasy EPL soccer, although some of the major UK gambling operators provide them for money.
DraftKings already offers regular Fantasy Soccer, and will no question hone this product for great britain market, also introducing more sports that are UK-centric such as rugby and cricket.
‘ We shall 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 new partnerships with leagues, teams and media outlets internationally as we have done with exceptional success in america.’
Will the UK Bite?
Whether DFS will have the same type of huge impact as it has done into the US, in a market where individuals are absolve to bet on real-life sporting outcomes, stays become seen.
For a lot of Americans, DFS is the closest they have to placing a sports that are legal, while for the British, who are able to place bets from their cell-phones at the touch of a button whenever you want of the day or night melbourne football club player number 5, it will likely be just another gambling item, albeit a highly engaging one.
Just What’s clear is that while DFS operators in the US argue that their products are ‘not gambling,’ therefore justifying their exemption from UIGEA, in the UK, and probably somewhere else, there is no equivocation, and a full gambling license is required.
Borgata Responds to Ivey Countersuit
The Borgata has filed a reaction to Phil Ivey’s countersuit into the ongoing legal drama over his 2012 baccarat wins during the casino. (Image: Nevada Review-Journal)
The Borgata Hotel Casino & Spa in Atlantic City has taken care of immediately 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 suspicious may have occurred on those times.
The response comes after lawyers for Ivey and Cheng Yin Sun filed the countersuit alleging that the Borgata had intentionally destroyed the cards in order to undermine his defense.
The dispute is finished four sessions that took place at the Borgata over the length of many months in 2012.
Ivey and Sun played baccarat in a private vip area, winning a total of $9.6 million from the casino through the visits.
Borgata Becomes Suspicious After Crockfords Incident
The Borgata paid Ivey his 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 in an attempt to recover their losses.
In both situations, 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, dependent on whom you ask.
Interestingly, the facts in these instances are hardly in dispute by either part; it is just a matter of just how the actions of the casino and Ivey should be interpreted.
In the baccarat sessions, Ivey and Sun asked the casino to use an extremely particular set of playing cards manufactured by Gemaco. They also asked for that the games be played with a automated shuffler.
The casinos consented to these conditions, and were similarly compliant when Ivey asked dealers to show the high cards in the shoe 180 degrees, ostensibly for superstitious reasons.
Whatever they didn’t realize was that the Gemaco cards in question were imperfectly cut, allowing Ivey to determine which cards have been turned while looking at them face down.
Knowing whether specific cards had been high or low was enough to offer Ivey an advantage that is substantial the casino. In one single particularly effective session in July 2012, Ivey won $4.8 million from the Borgata on 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 legal fees and damages under laws and regulations related to the filing of frivolous lawsuits.
But within their response, the Borgata says that the cards were destroyed as a matter of due program, which happened before there was any dispute on the baccarat winnings.
‘Some of the cards used into the play at issue in cases like this were destroyed in the course that is regular of’s business operations, prior to plaintiff’s becoming mindful of defendants’ scheme and the defect in the playing cards, and pursuant to applicable regulations,’ the response read.
Attorneys for the Borgata also say that Ivey and Sun cannot recover damages because of their ‘fraudulent conduct,’ and say that the statute of limitations has expired on the allegations the defendants are making.
Ivey can also be taking part in a lawsuit that is similar Crockfords, in which he sued the casino in an attempt to force them to pay him his winnings. While courts initially ruled and only the casino, an appeal is anticipated to be heard later this year.
