
Nevada Gaming Control Board Chairman AG Burnett is considering amendments to your board’s regulations that could authorize prepaid wagering accounts at Nevada casinos.
The Nevada Gaming Control Board (GCB) is calling on the state’s land-based casinos to adapt e-commerce measures to make video gaming more user-friendly.
On August 11, the GCB held a workshop that is public Carson City to receive input on possibly changing just how slots and dining 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 enable casino clients to gamble utilizing 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 instructions in question. The former formerly barred players from gambling on prepaid accounts, while the later authorized credited makes up myfreepokies.com about their state’s interactive gaming sites.
The proposed Regulation 5 includes ‘wagering account’ information and regulatory principles overseeing how the cards would operate. The GCB dictates that the customer desperate to fund a commitment card account would personally need to first register in the casino with photo recognition.
‘It would provide patrons what they expect having the ability to fund video gaming from sources they have been increasingly more content with,’ GCB Chairman AG Burnett told the Las Vegas Review-Journal.
Practice Made Perfect
Opponents to electronically linked gambling reports believe the practice will result in higher incidences of problem gambling. But the wagering system being considered is far different from simply players that are permitting gamble along with their debit and credit cards.
In fact, account wagering is already being practiced in Nevada.
As well as interactive online and mobile gaming accounts, Nevada sportsbooks presently allow bettors to create prepaid gambling cards.
The state legislature thinks the amendments will appeal to the technological millennial demographic and bring the Silver State’s casinos into contemporary times.
‘ The growth that is continued success of the video gaming industry within the State of Nevada varies according to the fostering of a small business and regulatory environment that encourages continued advances in the use of technology in video gaming, which improves the entertainment experience, encourages innovation and supports expansion of the domestic technology sector,’ Senate Bill 9 states.
Though it seems likely the GCB will soon adapt the gambling that is prepaid, Burnett said more time will become necessary before formally executing the change.
Vital Endorsement
The Nevada Council on Problem Gambling lent its support of prepaid gaming accounts, though with a conditions that are few.
Executive Director Carol O’Hare said appropriate signage purporting the problems of issue gaming should be prominently displayed in areas where gamblers would refund their electronic accounts. Casinos have long been forced to do just that near cages and ATMs, but O’Hare wants the GCB to just take extra measures.
‘It would appear that in 2016 while you adopt regulations, procedures and rules for wagering accounts . . . some reasonable effort can be produced to align this new responsible gaming options become consistent with the current stands.’
O’Hare said she looks forward to working because of the GCB on the updated laws and language that is drafting mandate such problem gambling stipulations.
Six-Year Prison Sentence for Ex-CEO Kennon Whaley in Alabama, Gambled Away $100K in Insurance Funds
Former Alabama steel magnate Kennon Whaley is headed to prison. This week, the Auburn resident was sentenced to 72 months in federal jail, after he had been convicted in May for using an insurance payment to cover down over $100,000 in gambling debts.
Former Alabama metal company CEO Kennon Whaley will now see a great deal of steel of the different kind, after being sentenced to six years behind bars for insurance fraud. Whaley used bankruptcy settlements to pay down gambling debts. (Image: insurancequotesfast.com)
Whaley was once the CEO of Southeastern Stud & Components, a manufacturer that is montgomery-based of gauge steel framing products. Founded in 1999, the company created $34 million in revenues in 2005 and used 125 full-time workers.
But following 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 his business’ transition, Whaley went on 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 utilising the insurance cash to pay off Wynn, Whaley came back to Vegas again, where he incurred another $20,000 loss.
Chapter 11 provides companies protection from creditors, but the business that is bankrupt disclose all financial transactions. And in addition, Whaley neglected to abide by that condition.
‘ At that right time, Southeastern Stud ended up being nevertheless 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 said in a launch.
Paper Trail Proves Guilt
Whaley’s lawyer stated during his trial that he was an ‘absentee owner’ that was not conscious associated with the company’s downturn. But whenever going got tough, Whaley got going with risky maneuvers.
According to court records, Whaley instructed a worker to falsify papers in an attempt to conceal where in fact the insurance payments disappeared to.
‘That’s the textbook concept of bankruptcy fraud,’ Assistant US Attorney Brandon Essig said.
While the Wynn likely wined and dined Whaley on his two high-roller visits, the Strip resort cooperated with authorities to detail Whaley’s criminal activity. Records through the casino laid out his four-day jaunt to Sin City and show a man living the VIP lifestyle while his company was riddled in debt.
The usa Great Recession that lasted from 2007 through 2009 presented a difficult economy for businesses across the country. Chances were stacked against many small and companies that are medium-sized but Whaley went to Las Vegas and found also worse odds for his money.
Ironically, Whaley writes on their LinkedIn profile summary, ‘HARD WORK WINS.
In Good Bad Business
Whaley isn’t the person that is first hit the casino flooring 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 employing a Ponzi scheme to swindle $38 million from investors to fund his gambling addiction.
Atlantic City Casino Income Soars in July, Borgata Enjoys Record Month
Atlantic City casino revenue jumped 6.9 percent in July when compared with the same thirty days in 2015. The city’s eight casinos still in operation pulled in $275.2 million, $17.7 million greater than a earlier year.
Atlantic City casino revenues were up at most properties during July, but Carl Icahn’s Trump Taj Mahal was an exception. The casino that is long-troubled power down permanently in less than 30 days after having a long fight with unions. (Image: Heidi Gutman/Getty Images)
The headliner regarding the revenue report may be the Borgata Hotel Casino, which recently became wholly owned by MGM Resorts.
Atlantic City’s many profitable resort had its best month in its 13-year history. With gross revenues totaling $84.8 million in July, Borgata eclipsed its previous record that is monthly took complete advantageous asset of the an extra weekend and Independence Day holiday.
‘While we expected a good month with five full weekends, we are very satisfied with a record-breaking month,’ Borgata Senior Vice President Joe Lupo told the Associated Press.
Taj Mahal Trumped
Along with Borgata, four associated with the other seven casinos that are land-based percentage gains in July. The one that didn’t had not been interestingly the Trump Taj Mahal.
The Unite-HERE Local 54 union strike commenced on July 1 over medical insurance and pension benefits at the formerly Trump-owned property. More recently bought 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 will end the casino’s 26-year run following Labor weekend day. Gaming officials say the thirty days had been positive, regardless of the announcement 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 per cent) were the other two casino properties that posted losses in July.
Table games were the best performers percentage-wise, with a nearly $7.5 million boost that is comparative $75.7 million. Slots still pulled in the vast majority of casino income per se, but, with a $182.2 million win.
Year-to-date, Atlantic City casino income is up 1.5 %, and a complete of 3.2 percent when the state’s Internet gaming is factored in.
Online Gambling Strong
The summer that is long of July brought tourists and money to Atlantic City, but online, the economy was additionally sunny.
Internet gaming totaled $17,368,984 during July. That’s a 38.6 percent increase from 2015 and a brand new monthly high for that segment.
Borgata maintained its lead on the five casino operators taking part in iGaming, but the gap is closing. Borgata’s online platforms grossed $3,971,138. The Golden Nugget, up 36 percent in .
The Internet gaming market in New Jersey appears to be going towards equal disbursement. Once dominated by Borgata, final month the stakeholder that is smallest was Resorts with $3,052,298, an improvement of less than $1 million. The Tropicana generated $3.24 million, while Caesars built-up $3.39 million.
Resorts has quickly become a major player in New Jersey’s online gaming sector. Many Thanks towards the arrival of its poker network PokerStars, the casino climbed from $558,000 in revenue in July 2015 to $3 million last thirty days.
The world’s internet poker operator that is largest hit the Garden State last March after having a lengthy vetting procedure by the latest Jersey Department of Gaming Enforcement (DGE). It’s presently battling neck-and-neck with WSOP/888 for the title of brand 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 says his racing career is over. (Image: Clive Rose/Getty Images)
Michael Phelps has swum his final Olympic race. That is if you believe the legendary athlete.
Sixteen years since his first Olympiad and 28 medals later, Phelps says the 4x100m medley relay had been the final leg in his storied career.
Probably the most decorated Olympian ever, 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 is different.
‘Done, done, done, and this right time i suggest it,’ Phelps told Matt Lauer. ‘I wanted to return and finish my career the way I wanted and this was the cherry on the top of the cake.’
With 23 gold medals, Phelps has 14 more than any other Olympian. His 28 total medals are 10 significantly more than Larisa Latynina’s 18, the second most ornamented Olympic athlete.
History into the Books
Nevada and Las Vegas got in regarding the game for the Olympics in 2016. For the time that is first 2000, sportsbooks offered lines on a number of Olympic disciplines as a result of the Nevada Gaming Control Board amending regulations in 2015.
For the oddsmakers, that meant learning a number of unfamiliar sports. But when it arrived to Phelps and the pool, the decisions were pretty simple.
You would need to go against Phelps if you wanted to win any substantial money without placing a substantial bet.
Phelps won five of the six events 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 books in the Silver State. For example, the 4×200 freestyle team event had been requiring bettors to wager the maximum amount of as $700 on the US for a return of just $100.
The lone event he did not 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 returned about $1,000 at most Nevada sportsbooks.
Lochte Robbed
Another American swimmer didn’t have quite the same success in Brazil as Phelps. Ryan Lochte, a 12-time olympic medalist in their own right, had a significantly disappointing 2016 Summer Games.
He participated in only two events, and he failed to medal in the individual 200m medley while he was part of Phelps’ 4x200m freestyle gold relay team.
Things just got even worse following a summary associated with competition that is swimming. Within the weekend, Lochte and teammates that are several robbed at gunpoint by thugs in Rio de Janeiro.
‘We got pulled over in our taxi and these guys came away 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 guy pulled out his weapon, he cocked it, place it to my forehead in which he said, ‘Get down,’ and I place my hands up . . . He took our money, he took my wallet.’
Rio is riddled with controversy in its hosting and preparation of the 2016 Olympics. With six days to go until shutting ceremonies, Lochte’s run-in with street criminals will have every person for an also higher alert.
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