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 side three other directors of his Universal Entertainment Corp., for a closed-door hearing in a few days. It is all right 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 in the Philippines. Probably the insinuation is that Soriano received the money to grease some Filipino palms, but we might never imply such a plain thing, of course.
We could only report that both the FBI and the Philippines’ comparable, the National Bureau of Investigation, are having a look in to the matter to see if anything improprietous ended up being done. Universal Entertainment has maintained that it acted lawfully in the Philippines; most likely, who doesn’t give their consultants $40 million as being a token of these esteem?
Meanwhile, nobody’s commenting: not the Nevada Gaming Control Board and certainly no one from Universal Entertainment. Possibly that’s why they call it hush cash.
No Wrongdoing Alleged
This really is where we need to make clear that nobody has actually or officially been accused of accomplishing anything, particularly anything wrong. 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 was about to be deposed, Okada, ( that has been persona non grata at Wynn for quite some years now), resigned, but the Board came back with a collective flip down by firing him anyway with about a 98% approval vote the extremely next day.
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 economic improprieties (that sounds so much classier than ‘bribes,’ doesn’t it?) to Filipino heavyweights for his casino projects here. No one in the casino business likes to be associated with anybody whose hands might be dirty, ya know.
Of course, Okada has had some allegations of his own towards Wynn aswell, stating that their 20 percent stake in Wynn Resorts was illegally seized with only a promissory note worth some $1.9 billion that he can collect in ten years from him at a 30 percent discount, leaving him. Oh, the cruel, cruel world 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 originally filed in case on Feb. 19, 2012; the retractions signaled a triumph of kinds to Universal. Wynn Resorts remains unmoved, however.
‘It only illustrates our desire to target at the moment upon the breaches of fiduciary duty owed to the company,’ Wynn Resorts responded within an statement that is official. ‘The claim for theft of our trade secrets and proprietary company information will be ripe if and when Okada sets them to use in their Phillipines casino, or elsewhere.’
Just What’s at Stake
The Philippines’ government has placed lots 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 income producers on the planet. Along with three other gaming developments here, it shall be known as Pagcor Entertainment City.
No pressure whatsoever.
Chang Takes Down WPT Event for over a Million
It’s every poker player’s dream: to master a major tournament and collect a score that is seven-figure. 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 nevada from May 18-24. Nice work if it can be got by you.
Big Names Duke It Out
Seated at the table that is final Chang were 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 for Volpe already, having taken home over $600,000 for second in the WPT L.A. Poker Classic only a little more than a week before, and finishing in the money in January’s PokerStars Caribbean Adventure 2013 as well year. Joe Nguyen took home second for $666, 740; he finished 29th in this event that is same 12 months for a $19,200 finish, so must have already been quite satisfied with anywhere near this much better performance. Other top finishes were renowned poker pro Eric Seidel for $295, 590 in fourth; Chris Johnson in 5th spot for $208, 910; and Joe Kuether in sixth for a $162, 240 award.
Chang’s previous victories of note add a 2006 second-place finish in the $10,000 World Series of Poker (WSOP) Circuit event at Harrah’s Rincon, since well as a 40th place finish that same 12 months in the WSOP Main Event. He bubbled the 2008 table that is final the L.A. Poker Classic in 2008, getting nothing many television coverage from it all.
The Action Builds
Chang entered the last table as fifth of sixth in chips on an universally deep-stacked dining table. Starting out with a healthy 83 big blinds, he expanded to chip leader by the 42nd hand of the last table, and remained at or near to the leading runner right up to his first place finish. A combination of all deep stacks and an extremely solid group of players resulted in no one even being eliminated until the 79th hand.
Things moved a bit faster once action got right down to the heads-up match between Chang and Nguyen. It only took six hands for Chang to knock Nguyen out with a right to Nguyen’s missed diamond flush draw.
The WPT that is next event be in Venice, Italy on March 25 and will also be televised.
Minted Poker Tells Their Players to Money Out
Minted Poker is fed up and embarrassed utilizing the system they currently call home, the Everleaf Gaming system, and is telling their players to cash out all of their money immediately. This is due to what they call ’embarrassing’ money out delays regarding the network, with most withdrawals using 6 months or even more to process, of the ones which can be actually being prepared at all.
As well as telling their players to cash out, they will have also advised players to take a few actions in an effort to force Everleaf into action. One would be to file complaints with the Lotteries and Gaming Authority(LGA) of Malta, although the LGA has a history that is sketchy of with issues in their jurisdiction and enforcing their guidelines.
To that end, the LGA recently released a statement saying they had investigated the issue of withdrawals at Everleaf and found that a majority of players was in fact paid. That declaration was quickly refuted by a combined group of several players whom stated the majority of their withdrawals still had not been processed significantly more than 9 months after the fact. The LGA added which they would carry on to monitor Everleaf to make certain funds were being properly paid out to the players on its network.
Minted had even taken the step that is drastic block all deposit choices to their site; this for the sake of their particular players never to sink more money to the network, in addition to to attempt to spur Everleaf into action. Nevertheless, Everleaf has remained unresponsive throughout the fiasco, which certainly brings their current credibility into question.
Minted Poker is in the procedure of going to a network that is new and hopes their players’ cash balances will be transferred once that move is completed. Using the apparent state of disarray at Everleaf nonetheless, it is perhaps not probable that may come to pass through in a nutshell order.
Minted Poker is just certainly one of several ‘skins’ on the Everleaf system. Some of the dozens of other web sites on the system include bluffbet.com, palmbet.com, pokerutd.com, and valhallapoker.com. Traffic on the network has drastically decreased within the last month following Everleaf banning U.S players due to threatened appropriate action by the Department of Homeland Security. U.S players who’d accounts also have been unable to withdraw their funds since the move.
PokerStars Battles It Out with the American Gaming Association
A study from Forbes magazine earlier this week stated that Caesars Entertainment Corporation, the largest land-based video gaming firm in the entire world, has attempted to offload two of its most well known and recognisable brands to on line poker firm PokerStars.
‘Caesars Entertainment approached PokerStars and offered to sell us assets that are certain as the Rio Casino in Las Vegas,’ stated head of corporate communications for PokerStars, Eric Hollreiser. ‘Caesars Entertainment advised that this acquisition would give us a better relationship with Caesars Entertainment and would help PokerStars gain a license in Nevada.’
In line with the mag, PokerStars was approached final thirty days by an unnamed executive representing Caesars Entertainment to discuss a preliminary deal for PokerStars to take on the Rio All-Suite Hotel and Casino, because well as the planet Series 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 entire process of purchasing the Atlantic Club Casino and Hotel in Atlantic City which will allow it to submit application to this new 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 latest Jersey Casino Control Commission and Division of Gaming Enforcement stating that the Rational Group US Holdings is a ‘business built on deceit, chicanery as well as the systematic flouting of United States legislation’.
‘Any action permitting PokerStars to be licensed would send a damaging message to the realm of video gaming also to the planet beyond gaming https://real-money-casino.club/real-money-casino-app/ that companies that engage in chronic lawbreaking are welcome into the licensed video gaming business,’ stated the brief, as if attempting to prevent online gaming Armageddon.
Should the AGA be successful in blocking PokerStars’ plans to acquire the venue for $50 million, a reported 2,400 jobs could be at risk.
In reaction to your schoolyard-type chants of the AGA, Eric Hollreiser called upon the New Jersey Casino Control Commission and Division of Gaming Enforcement to come calmly to their own conclusion according to ‘expert regulators’ and suggested that the AGA was simply ‘picking a public fight’ with the firm. He included that PokerStars was deemed suitable for application to a license in America by the U.S. Department of Justice.
‘We works with authorities including the New Jersey regulators and other state that is interested to talk about our qualifications and invite them to comment on exactly what they find,’ stated Hollreiser.
‘PokerStars is one of the largest and most respected internet gaming organizations 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 steadily to work definitely with regulators in nj-new jersey and somewhere else whenever they review our qualifications,’ he finished.
Should Hollreiser’s good-light-shedding statements be believed, we’ve to question the motive behind the AGA’s squabble-like claims. After all, in the event that largest land-based gaming firm in the world sees fit to offer two of their most prized brands to the firm, then perhaps PokerStars deserves just a little more consideration than the AGA is willing to provide.