Month Plainridge Park Casino Collects $18 Million in First

The Plainridge Park Casino had a very successful very first month, bringing much more than $18 million in revenue.
Massachusetts may nevertheless have a ways to go before it becomes a casino gambling powerhouse, but their first entry into the industry is off to a start that is good.
The Plainridge Park Casino, which features only electronic games, brought in $18.1 million in revenue during its very first month of operations, though specialists cautioned that people numbers may decline a bit in the long run.
Critically, the profits suggest that approximately $9 million can become being generated in revenue for state and governments that are local. 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’ stated Massachusetts Gaming Commission representative Elaine Driscoll.
Revenues In Line With Projections
Officials had projected that the Plainridge location would generate about $200 million in revenue annually.
The figures through the month that is first surpass that target by about 9 percent.
‘We are pleased with the July performance, which can be consistent with expectations,’ Penn National Gaming’s Eric Schippers told the Boston Herald. ‘It typically takes three to half a year from the grand-opening period to begin to know market trends, and now we’ve only now begun our marketing efforts in earnest.’
While that is cause for optimism, other people have actually pointed out that there might be reason to believe Plainridge’s long-lasting prospects are not quite therefore rosy.
There’s always the chance that the casino that is first the state sometimes appears as a novelty, and there are also questions about how precisely Plainridge will do once the larger resort casinos having a wider assortment of offerings are opened in a few years.
‘ One would expect Plainridge to do well in the beginning, but whether that known levels off is going to be the question,’ Boston College video gaming expert Richard McGowan told the Herald. ‘ What they require to accomplish is build up some kind of loyalty to keep people 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 go to city primarily and town governments through the entire state. In addition, about some of that money will support the state’s horse racing industry.
Casino Makes Payments to Town
The casino has currently started initially to benefit the town of Plainville as well.
The other day, the casino signed over its first check that is monthly its host community, part of $2.7 million in annual fees that will go to the town.
The giant, ceremonial check was made out for $277,000; typically, the monthly payments is going to be for $225,000, but this first payment covered both the final week in June along with the month of July.
Impact on Local Lottery Sales Seen
Meanwhile, the Massachusetts Lottery continues to concern yourself with the prospective impact of this casinos on its sales throughout the state.
Based on officials, there has recently been a slight decrease in sales at locations that are within a 15-minute drive of the Plainridge Park Casino.
‘we have been 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 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 International expansion. (Image: pokerstrategy.com)
Daily fantasy sports (DFS) site DraftKings announced this week it offers received a license from the British Gambling Commission (UKGC) and intends to go live with A uk-facing dfs product in the fourth quarter of the year.
Last month, the Boston-based start-up was able to raise almost $300 million in funds to aid its planned international expansion, with around $150 million of the originating from Fox Sports, for an 11 per cent stake in the company.
DraftKings stated that it plans to move into European countries, Asia, and Latin America during 2016, and has hired Jeffrey Haas, previously of kreuz ‘definitely’ wants to be one-club player PokerStars and bwin.party, to oversee the expansion.
‘DraftKings is well-poised for explosive growth internationally, and we am excited to lead their expansion efforts,’ said Haas, who can be based in the new London workplace. ‘Daily Fantasy Sports is a growing category outside North America, and we have a tremendous chance to engage activities fans around the world.’
New Concept for Brits
The move in to the UK is an appealing one.
The DFS concept will be a completely new one there while the country has one of the most developed gambling markets in the world.
DFS allows customers to bet on teams or sports players throughout a given time, making points based on the performance of their picks. Users with many points at the end of the cash out day.
This is really a various prospect to regular fantasy sports, which offers games that generally last a season that is whole.
These are already popular within the UK, particularly fantasy EPL soccer, although some of the UK that is major gambling offer them for money.
DraftKings already provides frequent Fantasy Soccer, and will no doubt hone this item for the UK market, also introducing more UK-centric sports, such as rugby and cricket.
‘ We are going to add new activities and games to our burgeoning roster of offerings and further connect fans to their favorite teams and players,’ confirmed DraftKings Chief Executive Officer Jason Robins. ‘We also welcome the opportunity to forge new partnerships with leagues, teams and news outlets internationally once we have inked with exemplary success in the usa.’
Will the UK Bite?
Whether DFS will have the same type of huge effect as it has done within the US, in a market where consumers are liberated to bet on real-life sporting outcomes, remains to be seen.
For several Americans, DFS could be the closest they have to placing a sports that are legal, while for the British, who is able to place bets from their cell-phones at the touch of a button at any time associated with day or night, it is simply another gambling item, albeit a highly engaging one.
What’s clear is that while DFS operators into the US argue that their products are ‘not gambling,’ thus justifying their exemption from UIGEA, in the UK, and most likely elsewhere, there is no equivocation, and a complete gambling permit is required.
Borgata Responds to Ivey Countersuit
The Borgata has filed a reaction to Phil Ivey’s countersuit into the ongoing drama that is legal his 2012 baccarat wins during the casino. (Image: Las Vegas, Nevada Review-Journal)
The Borgata Hotel Casino & Spa in Atlantic City has taken care of immediately a countersuit filed by professional poker player Phil Ivey, saying that their destruction of cards utilized in his controversial baccarat sessions were destroyed before the casino became aware that anything suspicious may have occurred on those times.
The response comes after lawyers for Ivey and Cheng Yin Sun filed the countersuit alleging that the Borgata had intentionally damaged the cards in order to undermine their defense.
The dispute is over four sessions that took place at the Borgata over the length of many 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 throughout 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 with 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 cases are hardly in dispute by either side; it is in fact a matter of just how the actions of the casino and Ivey should really be interpreted.
In the baccarat sessions, Ivey and Sun asked the casino to utilize an extremely set that is specific of cards manufactured by Gemaco. Additionally they requested that the games be played with a automated shuffler.
The casinos consented to these conditions, and were likewise compliant when Ivey asked dealers to make the high cards in the footwear 180 degrees, ostensibly for superstitious reasons.
What they did not realize was that the Gemaco cards under consideration were imperfectly cut, allowing Ivey to identify which cards had been turned while looking at them face down.
Knowing whether specific cards were high or low ended up being enough to give Ivey a substantial advantage over the casino. In one session that is particularly successful July 2012, Ivey won $4.8 million through the Borgata throughout the program of 17 hours.
Countersuit Alleges Deliberate Destruction of Evidence
After the Borgata sued Ivey and Sun, the defendants filed a countersuit, stating that the instance ought to be dismissed due to the fact that the casino had destroyed the cards utilized in the games. They also sought fees that are legal damages under laws and regulations pertaining to the filing of frivolous lawsuits.
But inside their response, the Borgata says that the cards were destroyed as a matter of due course, which took place before there was any dispute within the baccarat winnings.
‘Some of the cards used into the play at issue in cases like this were destroyed in the course that is regular of’s company operations, prior to plaintiff’s becoming conscious of defendants’ scheme and the defect in the playing cards, and pursuant to applicable regulations,’ the response read.
Attorneys for the Borgata also say that Ivey and Sun cannot recover damages because of their ‘fraudulent conduct,’ and say that the statute of limitations has expired on the allegations the defendants are making.
Ivey can also be taking part in a lawsuit that is similar Crockfords, in which he sued the casino in an effort to force them to pay him their winnings. While courts initially ruled in support of the casino, an appeal is anticipated to be heard later this year.
