Month Plainridge Park Casino Collects $18 Million in First

The Plainridge Park Casino had a very successful month that is first bringing much more than $18 million in revenue.
Massachusetts may nevertheless have an approaches to go before it becomes a casino gambling powerhouse, but their very first entry into the field is down up to a good start.
The Plainridge Park Casino, which features only electronic games, brought in $18.1 million in revenue during its very first thirty days of operations, though professionals cautioned that those numbers may decline a bit with time.
Critically, the revenues mean that approximately $9 million can become being produced in revenue for state and local governments. That figure would put annual targets set by officials well within reach.
‘The commission is happy 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 aid that is local’ said Massachusetts Gaming Commission representative Elaine Driscoll.
Revenues In Line With Projections
Officials had projected that the Plainridge location would produce about $200 million in revenue annually.
The figures from the month that is first go beyond that target by about 9 percent.
‘We are pleased with the July performance, which can be in line with expectations,’ Penn National Gaming’s Eric Schippers told the Boston Herald. ‘It typically takes three to six months from the grand-opening period to begin to understand market trends, so we’ve only now begun our marketing efforts in earnest.’
While that is cause for optimism, other people have actually remarked that there might be reason to believe Plainridge’s long-term prospects are not quite therefore rosy.
There’s always the opportunity that the very first casino in the state is seen as a novelty, and there’s also questions how Plainridge will do after the larger resort casinos with a wider variance of offerings are opened in a couple of years.
‘ One would expect Plainridge to do well within the beginning, but whether that levels off is going to be the question,’ Boston College gaming specialist Richard McGowan told the Herald. ‘ whatever they require to complete is build some kind up of loyalty to keep individuals 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 primarily go to city and city governments throughout the state. In addition, about some of that money will support the state’s horse industry that is racing.
Casino Makes Payments to Town
The casino has currently began to benefit the town of Plainville as well.
Last week, the casino signed over its first monthly check to its host community, part of $2.7 million in annual charges that will go to the town.
The giant, ceremonial check was made out for $277,000; typically, the month-to-month payments are 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 Lottery Sales Seen
Meanwhile, the Massachusetts Lottery continues to bother about the potential impact regarding the casinos on its sales throughout the state.
In accordance with officials, there has already been a slight decrease in sales at places that are within a 15-minute drive of the Plainridge Park Casino.
‘Our company is still seeing strong figures at retail agents such as convenience stores and gas stations that carry our services and products,’ stated 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 who has been hired to oversee DraftKing’s worldwide expansion. (Image: pokerstrategy.com)
Day-to-day fantasy sports (DFS) site DraftKings announced this week it’s received a permit from the UK Gambling Commission (UKGC) and plans to go live with A dfs that is uk-facing product the fourth quarter of the season.
Last month, the start-up that is boston-based 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 % stake in the business.
DraftKings said 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,’ stated Haas, that will be based in the London that is new office. ‘Daily Fantasy Sports is a category that is growing North America, so we have a tremendous possibility to engage activities fans around the world.’
New Concept for Brits
The move in to the UK is an appealing one.
While the nation has perhaps one of the most developed gambling markets in the world, the DFS concept are an entirely new one there.
DFS allows customers to bet on teams or sports players within a given time, earning points based on the performance of their picks. Users with the absolute most points at the end of the cash out day.
This is just a various possibility to regular fantasy recreations, which offers games that generally last a whole season.
These are already popular into the UK, particularly fantasy EPL soccer, although few of the UK that is major gambling provide them for money.
DraftKings already offers constant Fantasy Soccer, and will no question hone this item for the UK market, also introducing more UK-centric sports, such as rugby and cricket.
‘ We will add new sports and games to our burgeoning roster of offerings and connect that is further to their favorite teams and players,’ confirmed DraftKings leader Officer Jason Robins. ‘We also welcome the ability to forge partnerships that are new leagues, teams and news outlets internationally once we did with exemplary success in the United States.’
Will the UK Bite?
Whether DFS will have the kind that is same of impact as it has been doing into the US, in a market where consumers are absolve to bet on real-life sporting outcomes, remains to be seen.
For all Americans, DFS could be the closest they have to placing a legal sports bet, while for the British, who are able to place bets from their cell-phones at the touch of a button whenever you want associated with time or night, it’ll be just another gambling product, albeit a highly engaging one.
What’s clear is that while DFS operators in the US argue that their products are ‘not gambling,’ therefore justifying their exemption from UIGEA, within the UK, and probably somewhere else, there is certainly no equivocation, and a complete gambling license is required.
Borgata Responds to Ivey Countersuit
The Borgata has filed a reaction to Phil Ivey’s countersuit within the ongoing legal drama pokemon club player id over his 2012 baccarat wins during the casino. (Image: Las Vegas, Nevada 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 found in his controversial baccarat sessions were damaged before the casino became aware that anything suspicious may have happened on those dates.
The response comes after lawyers for Ivey and Cheng Yin Sun filed the countersuit alleging that the Borgata had intentionally damaged the cards so that you can 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 his winnings without incident.
But when Crockfords, a casino in London, refused to cover Ivey after he likewise won millions playing baccarat using them, the Borgata took notice and sued Ivey in an attempt to 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 side; it is simply a matter of how those things of the casino and Ivey is interpreted.
In the baccarat sessions, Ivey and Sun asked the casino to make use of an extremely particular set of playing cards manufactured by Gemaco. They also asked for 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 footwear 180 levels, fundamentally for superstitious reasons.
Whatever they don’t realize was that the Gemaco cards under consideration were imperfectly cut, allowing Ivey to recognize which cards had been turned while looking at them face down.
Knowing whether specific cards had been high or low had been enough to give Ivey an advantage that is substantial the casino. In a single specially effective session in July 2012, Ivey won $4.8 million from the Borgata on the course of 17 hours.
Countersuit Alleges Deliberate Destruction of Evidence
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 regarding the filing of frivolous lawsuits.
But inside their response, the Borgata says that the cards were destroyed as a matter of due program, which took place before there was clearly any dispute on the baccarat winnings.
‘Some of the cards utilized into the play at issue in cases like this were destroyed in the regular length of plaintiff’s company 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.
Lawyers for the Borgata also say that Ivey and Sun cannot recover damages due to their ‘fraudulent conduct,’ and state that the statute of limitations has expired on the allegations the defendants are making.
Ivey can be tangled up in a similar lawsuit against Crockfords, in which he sued the casino in an attempt to force them to pay him their winnings. While courts initially ruled in favor of the casino, an appeal is expected to be heard later this year.