Okada to Meet with Gaming Control Board Over Foreign Payments
The Nevada Gaming Control Board has called in Japanese billionaire tycoon and previous Wynn director Kazuo Okada, along with three other directors of his Universal Entertainment Corp., for a closed-door hearing week that is next. It’s all component of the Control Board’s ongoing research into allegations that $40 million in payments was designed to Rodolfo Soriano, certainly one of Universal’s casino project consultants within the Philippines. Possibly the insinuation is that Soriano received the cash to grease some Filipino palms, but we would never imply such a plain thing, of course.
We can only report that both the FBI and the Philippines’ equivalent, the National Bureau of Investigation, are having a look into the matter to see if anything improprietous was done. Universal Entertainment has maintained that it acted lawfully in the Philippines; in the end, who does not give their professionals $40 million as a token of the esteem?
Meanwhile, nobody’s commenting: not the Nevada Gaming Control Board and certainly no one from Universal Entertainment. Possibly that is why they call it hush cash.
No Wrongdoing Alleged
This is where we must explain that no one has actually or officially been accused of accomplishing such a thing, particularly anything wrong. However you can observe how it might look funny is all.
All this falls on the heels of Okada’s current resignation slash firing from the Board of Directors of Wynn Resorts; sensing he had been about to be deposed, Okada, ( that has been persona non grata at Wynn for quite a few years now), resigned, but the Board came ultimately back with a collective flip off by firing him anyway with about a 98% approval vote the very day that is next.
Okada vs. Wynn
The fight with Wynn has been going on for years now, and, stop the presses, stems from dilemmas Wynn has had with Okada over allegations of some financial improprieties (that sounds so much classier than ‘bribes,’ doesn’t it?) to Filipino heavyweights for his casino projects there. No one in the casino company likes to be associated with anyone whose hands could be dirty, ya know.
Of course, Okada has already established some allegations of his very own towards Wynn too, stating that their 20 percent stake in Wynn Resorts was illegally seized from him at a 30 % discount, making him with only a promissory note worth some $1.9 billion which he can collect in a decade. Oh, the cruel, cruel globe of high-stakes finance.
Last thirty days, Wynn Resorts retracted some allegations that are former such as for instance that Universal had misappropriated trade secrets, that were initially filed in a lawsuit on Feb. 19, 2012; the retractions signaled a victory of sorts to Universal. Wynn Resorts remains unmoved, however.
‘It only illustrates our desire to target at this time upon the breaches of fiduciary responsibility owed to our company,’ Wynn Resorts responded within an official statement. ‘The claim for theft of our trade secrets and business that is proprietary will be ripe if and whenever Okada sets them to use in their Phillipines casino, or elsewhere.’
What’s on the line
The Philippines’ government has placed a lot of eggs in Okada’s basket: they granted him four casino licenses to build and operate a dollar that is multibillion gambling and entertainment complex that will be on a par to compete with Macau and Singapore, two of the very most lucrative video gaming revenue producers on the planet. Along side three other video gaming developments here, it shall be known as Pagcor Entertainment City.
No pressure whatsoever.
Chang Takes Down WPT Event for More Than a Million
It’s every poker player’s dream: to master a major tournament and collect a seven-figure score. That dream came true for relatively unknown Kai that is pro Chang week at World Poker Tour (WPT) Bay 101 Shooting Star’s 2013 event.
Not only did Chang win $1,138,350 for defeating a particularly tough and deep-stacked dining table, he was also awarded $25,000 entry into the WPT World Championship, to be held at Bellagio in vegas from May 18-24. Nice work if it can be got by you.
Big Names Duke It Out
Seated at the final table with Chang had been a field of deep-stacked poker warriors, including Paul Volpe, whom ultimately took third for a $435, 610 payday. It has been a hell of a year for Volpe currently, having taken house over $600,000 for second into the WPT L.A. Poker Classic only a little higher than a week before, and finishing in the amount of money in January’s PokerStars Caribbean Adventure 2013 also. Joe Nguyen took home second for $666, 740; he finished 29th in this same occasion last year for a $19,200 finish, so must were quite pleased about that much better performance. Other finishes that are top renowned poker pro Eric Seidel for $295, 590 in fourth; Chris Johnson in fifth destination for $208, 910; and Joe Kuether in sixth for a $162, 240 award.
Chang’s previous wins of note include a 2006 second-place finish in the $10,000 World Series of Poker (WSOP) Circuit occasion at Harrah’s Rincon https://real-money-casino.club/no-deposit-bonus-casino/, as well as a 40th spot finish that same 12 months in the WSOP Main Event. He bubbled the 2008 last dining table at the L.A. Poker Classic in 2008, getting nothing however some television coverage from it all.
The Action Builds
Chang joined the final table as fifth of sixth in potato chips on an universally deep-stacked table. Beginning out with a healthy 83 big blinds, he grew to chip leader by the 42nd hand of the table that is final and remained at or close to the front runner right up until his first place finish. A combination of all deep piles and a really solid group of players resulted in no one even being eradicated until the 79th hand.
Things moved a bit faster once action got down seriously to the heads-up match between Chang and Nguyen. It just took six hands for Chang to knock Nguyen out having a straight to Nguyen’s missed diamond flush draw.
The next WPT occasion will be in Venice, Italy on March 25 and will also be televised.
Minted Poker Tells Their Players to Cash Out
Minted Poker is given up and embarrassed using the community they currently call home, the Everleaf Gaming Network, and is telling their players to cash out all their money immediately. This is a result of what they call ’embarrassing’ money away delays regarding the system, with most withdrawals taking 6 months or even more to process, for the ones being actually being processed at all.
In addition to telling their players to cash out, they will have additionally advised players to take a few actions in an endeavor to force Everleaf into action. One is to register complaints with the Lotteries and Gaming Authority(LGA) of Malta, although the LGA has a history that is sketchy of with issues within their jurisdiction and enforcing their rules.
The LGA recently released a statement saying they had looked into the issue of withdrawals at Everleaf and found that a majority of players had been paid to that end. That statement was quickly refuted by a combined group of several players whom advertised the majority of their withdrawals nevertheless had not been processed a lot more than 9 months after the fact. The LGA added they would continue to monitor Everleaf to make certain funds were being properly paid out to the players on its network.
Minted had also taken the step that is drastic block all deposit options with their site; this for the sake of unique players to not sink more cash into the community, also to attempt to spur Everleaf into action. However, Everleaf has remained unresponsive throughout the fiasco, which certainly brings their current credibility into concern.
Minted Poker is within the process of moving to a brand new network, and hopes their players’ money balances will be transferred once that move is completed. Utilizing the state that is apparent of at Everleaf nonetheless, it’s perhaps not probable that will come to pass in short purchase.
Minted Poker is just certainly one of several ‘skins’ on the Everleaf Network. A few of the dozens of other web sites on the network include bluffbet.com, palmbet.com, pokerutd.com, and valhallapoker.com. Traffic on the network has drastically decreased within the month that is last Everleaf banning U.S players due to threatened appropriate action by the Department of Homeland Security. U.S players that has accounts also have been unable to withdraw their funds since the move.
PokerStars Battles It Out with the United States Gaming Association
A study from Forbes mag earlier in the day this week stated that Caesars Entertainment Corporation, the largest gaming that is land-based in the planet, has attempted to offload two of its best and recognisable brands to on the web poker firm PokerStars.
‘Caesars Entertainment approached PokerStars and offered to sell us certain assets such as the Rio Casino in nevada,’ stated head of business communications for PokerStars, Eric Hollreiser. ‘Caesars Entertainment suggested that this acquisition would provide us with a better relationship with Caesars Entertainment and would help PokerStars gain a license in Nevada.’
Based on the magazine, PokerStars was approached final month by an unnamed executive representing Caesars Entertainment to talk about a preliminary deal for PokerStars to take the Rio All-Suite Hotel on and Casino, as well as the World variety of Poker brand name.
However, Hollreiser explained that PokerStars chose to decline the offer because the firm had no plans to ‘acquire another casino in the near term’. Currently, the online gaming operator is amidst the process of buying the Atlantic Club Casino and Hotel in Atlantic City which will allow it to submit application to the latest Jersey Casino Control Commission for the intrastate online poker license.
However, the program to submit such an application has been somewhat tainted following an opposing that is brief proposed purchase for the Atlantic Club Casino and Hotel by the United states Gaming Association (AGA).
The AGA presented a 24-page ‘not-so-brief’ to the New Jersey Casino Control Commission and Division of Gaming Enforcement stating that the Rational Group US Holdings is a ‘business built on deceit, chicanery therefore the flouting that is systematic of States law’.
‘Any action enabling PokerStars to be licensed would send a message that is damaging the world of gaming also to the entire world beyond gaming that organizations that engage in chronic lawbreaking are welcome in the licensed video gaming business,’ stated the brief, as if attempting to prevent online gaming Armageddon.
If the AGA be successful in blocking PokerStars’ plans to buy the venue for $50 million, a reported 2,400 jobs could be at risk.
In reaction to the schoolyard-type chants of the AGA, Eric Hollreiser called upon the nj-new Jersey Casino Control Commission and Division of Gaming Enforcement to come to their own conclusion predicated on ‘expert regulators’ and suggested that the AGA was simply ‘picking a fight that is public aided by the company. He added that PokerStars was deemed suitable for application to a license in America by the U.S. Department of Justice.
‘We will work with authorities including the New Jersey regulators and other state that is interested to talk about our qualifications and permit them to comment on what they find,’ stated Hollreiser.
‘PokerStars is amongst the largest and most respected internet gaming companies because we work closely with regulators and are in good standing with governments around the world holding licenses in France, Germany, Italy, Spain, Denmark, Estonia, Belgium, Malta and the Isle of Man.’
‘we shall continue to work absolutely with regulators in nj-new jersey and elsewhere whenever they review our qualifications,’ he completed.
Should Hollreiser’s good-light-shedding statements be believed, we have to question the motive behind the AGA’s squabble-like claims. After all, if the largest land-based gaming firm in the world sees healthy to offer two of their most prized brands to the company, then perhaps PokerStars deserves a little more consideration than the AGA is willing to provide.