Nevada Gaming Control Board Chairman AG Burnett is considering amendments towards the board’s regulations that would authorize wagering that is prepaid at Nevada casinos.
The Nevada Gaming Control Board (GCB) is calling in the state’s land-based casinos to adapt measures that are e-commerce make 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 country’s gambling capital.
At issue is the GCB’s own regulations and whether amendments should be implemented to enable casino clients to gamble using accounts that are prepaid.
In accordance with Nevada Senate Bill 9 passed in 2015 that pressured the GCB to adapt such regulations, the board is considering allowing casinos to implement systems at their tables and machines offering customers aided by the option to gamble with funds linked to loyalty cards.
Regulation 5 and Regulation 5A are the two guidelines in question. The former formerly barred players from gambling on prepaid accounts, while the later authorized credited makes up about hawaii’s interactive gaming companies.
The proposed Regulation 5 includes ‘wagering account’ information and principles that are regulatory how the cards would operate. The GCB dictates that the customer wishing to fund a loyalty card account would personally need to first register in the casino with photo identification.
‘It would give patrons what they expect having the ability to fund gaming from sources they have been increasingly convenient with,’ GCB Chairman AG Burnett told the Las Vegas Review-Journal.
Practice Made Perfect
Opponents to electronically linked gambling accounts believe the practice shall trigger higher incidences of problem gambling. But the wagering system being considered is far different from simply players that are permitting gamble making use of their debit and credit cards.
In fact, account wagering is already being practiced in Nevada.
Along with interactive online and gaming that is mobile, Nevada sportsbooks presently allow bettors to create prepaid gambling cards.
The state legislature believes the amendments will attract the technological millennial demographic and bring the Silver State’s gambling enterprises into contemporary times.
‘ The growth that is continued success of the gaming industry in the State of Nevada is determined by the fostering of a small business and regulatory environment that encourages continued advances in the usage of technology in gaming, which improves the entertainment experience, encourages innovation and supports expansion of this domestic technology sector,’ Senate Bill 9 states.
Though it appears likely the GCB will soon adapt the gambling that is prepaid, Burnett said additional time is needed before formally executing the change.
The Nevada Council on Problem Gambling lent its help of prepaid video gaming accounts, though with a few conditions.
Executive Director Carol O’Hare stated signage that is appropriate the dangers of problem video gaming should be prominently displayed in areas where gamblers would refund their electronic accounts. Casinos have actually long been forced to do just that near cages and ATMs, but O’Hare desires the GCB to take extra measures.
‘It would seem that in 2016 while you adopt laws, procedures and rules for wagering accounts . . . some effort that is reasonable be manufactured to align the newest responsible gaming options become consistent with the existing stands.’
O’Hare said she looks forward to working aided by the GCB on the updated regulations 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 metal magnate Kennon Whaley is headed to jail. This week, the Auburn resident was sentenced to 72 months in federal jail, after he had been convicted in May for making use of an insurance coverage payment to pay down over $100,000 in gambling debts.
Former Alabama metal business CEO Kennon Whaley will now see a great deal of metal of the kind that is different after being sentenced to six years behind bars for insurance fraud. Whaley used bankruptcy settlements to pay straight down gambling debts. (Image: insurancequotesfast.com)
Whaley was when the CEO of Southeastern Stud & Components, A montgomery-based manufacturer of light measure steel framing products. Founded in 1999, the company produced $34 million in revenues in 2005 and employed 125 workers that are full-time.
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 assist in his business’ transition, Whaley proceeded 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 utilizing the insurance coverage money to settle Wynn, Whaley returned to Vegas again, where he incurred another $20,000 loss.
Chapter 11 provides companies protection from creditors, but the business that is bankrupt reveal all financial transactions. And in addition, Whaley failed to adhere to that condition.
‘ At that 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 workplace for the center District of Alabama said in a release.
Paper Trail Proves Guilt
Whaley’s attorney stated during his test which he was an ‘absentee owner’ that wasn’t mindful for the business’s downturn. But when the going got tough, Whaley got using risky maneuvers.
According to court records, Whaley instructed a worker to falsify papers in a try to conceal where the insurance payments disappeared to.
‘That’s the textbook concept of bankruptcy fraud,’ Assistant US Attorney Brandon Essig stated.
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. Documents through the casino organized his jaunt that is four-day to City and show a man living the VIP lifestyle while his company was riddled with debt.
The usa Great Recession that lasted from 2007 through 2009 presented a hard economy for businesses in the united states. The chances had been stacked against many small and medium-sized businesses, but Whaley went to Vegas and found even even worse odds for their money.
Ironically, Whaley writes on their LinkedIn profile summary, ‘HARD WORK WINS.
In Good Bad Business
Whaley isn’t the person that is first strike 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 utilizing a Ponzi scheme to swindle $38 million from investors to fund his gambling addiction.
Atlantic City Casino Income Soars in Borgata Enjoys Record Month july
Atlantic City casino revenue jumped 6.9 percent in July compared to the month that is same 2015. The city’s eight casinos still in operation taken in $275.2 million, $17.7 million higher than a earlier year.
Atlantic City casino revenues had been up at most properties during July, but Carl Icahn’s Trump Taj Mahal had been an exception. The casino that is long-troubled power down permanently in less than 30 days after a long battle with unions. (Image: Heidi Gutman/Getty Images)
The headliner of the revenue report may be the Borgata Hotel Casino, which recently became wholly owned by MGM Resorts.
Atlantic City’s most profitable resort had its month that is best in its 13-year history. With gross revenues totaling $84.8 million in July, Borgata eclipsed its previous record that is monthly took full advantageous asset of the an additional weekend and Independence Day holiday.
‘we are very pleased with a record-breaking month,’ Borgata Senior Vice President Joe Lupo told the Associated Press while we expected a good month with five full weekends.
Taj Mahal Trumped
Along with Borgata, four associated with other seven land-based gambling enterprises posted percentage gains in July. One that don’t was not interestingly the Trump Taj Mahal.
The Unite-HERE Local 54 union attack commenced on July 1 over medical health insurance and pension benefits at the formerly property that is trump-owned. More recently bought by the GOP candidate’s billionaire buddy 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 the Labor weekend day. Gaming officials state the month had been positive, regardless associated with the statement that yet another Atlantic City casino is closing.
‘July was a solid thirty days, even though several properties faced challenges including a strike by union employees,’ 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 into the vast majority of casino income per se, however, with a $182.2 million win.
Year-to-date, Atlantic City casino income is up 1.5 %, and a total of 3.2 percent when the state’s Internet gaming is factored in.
Online Gambling Strong
The long summer time month of July brought tourists and cash to Atlantic City, but on the web, the economy was also 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 involved with iGaming, but the gap is closing. Borgata’s online platforms grossed $3,971,138. The Golden Nugget, up 36 per cent in .
Online gaming market in New Jersey seems to be going towards equal disbursement. Once dominated by Borgata, final month the stakeholder that is smallest was Resorts with $3,052,298, a difference of less than $1 million. The Tropicana generated $3.24 million, while Caesars collected $3.39 million.
Resorts has swiftly become a player that is major New Jersey’s on line gaming sector. Many Thanks to your 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 a long vetting process by the New Jersey Department of Gaming Enforcement (DGE). It’s presently battling neck-and-neck with WSOP/888 for the name of New Jersey’s online poker market leader.
Michael Phelps Finishes Olympic Career With 23rd Gold Medal
The one that is great finished. After 23 gold medals, American swimmer Michael Phelps says his career that is racing is. (Image: Clive Rose/Getty Images)
Michael Phelps has swum his Olympic that is last race. That is if you believe the legendary athlete.
Sixteen years since their very first Olympiad and 28 medals later on, Phelps says the medley that is 4x100m was the last leg in his storied career.
Probably the most decorated Olympian ever, Phelps happens to be adamant in post-race interviews that he’s completed. He said the 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 keep coming back and finish my career how I wanted and also this was the cherry at the top of this dessert.’
With 23 gold medals, Phelps has 14 more than any other Olympian. His 28 total medals are 10 more than Larisa Latynina’s 18, the second most ornamented Olympic athlete.
History into the Books
Nevada and Las Vegas got in on the game for the Olympics in 2016. For the time that is first 2000, sportsbooks offered lines on a variety of Olympic disciplines thanks to the Nevada Gaming Control Board amending regulations in 2015.
For the oddsmakers, that meant learning a host of unknown sports. But when it arrived to Phelps and the pool, the decisions were pretty easy.
If you desired to win any substantial money without placing a substantial bet, you would need to go against Phelps.
Phelps won five of the six events he entered. He placed first in the 200m butterfly, 200m medley, 4x100m freestyle, 4x200m freestyle, and 4x100m medley.
He had been understandably a favorite that is heavy the publications in the Silver State. For instance, the 4×200 freestyle team event had been bettors that are requiring wager the maximum amount of as $700 on the US for a return of just $100.
The event that is lone didn’t win, the 100m individual 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 on a Schooling upset of Phelps returned about $1,000 at most Nevada sportsbooks.
Another swimmer that is americann’t have quite the same success in Brazil as Phelps. Ryan Lochte, A olympic that is 12-time medalist his own right, had a significantly disappointing myfreepokies.com 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 for the swimming competition. Over the weekend, Lochte and teammates that are several robbed at gunpoint by thugs in Rio de Janeiro.
‘We got stopped in our taxi and these guys arrived out with a badge, an authorities badge. No lights, no nothing, just a police badge. They pulled us over, they pulled out their weapons,’ Lochte told NBC.
‘And then the man pulled out his weapon, he cocked it, put it to my forehead and he stated, ‘Get down,’ and I place my hands up . . . He took our money, he took my wallet.’
Rio has been riddled with controversy in its hosting and preparation of the 2016 Olympics. With six days to go until closing ceremonies, Lochte’s run-in with street criminals will have everybody for an also greater alert.