New Jer<span id="more-4573"></span>sey Residents Slowly Warming to Casino Expansion Efforts into Northern Region

Nj-new Jersey Governor Chris Christie is fed up with how leaders that are local governed Atlantic City’s economic crash.

New Jersey residents have now been fighting their state’s push to allow two gambling enterprises to be built inside their north counties, but a recent poll shows that the figures are now actually beginning to move away from opposition and towards help.

But even with that shift, there’s still a way that is long get for legislators to make an impression on the support associated with the majority of their constituents.

A survey by Fairleigh Dickinson University circulated this week shows 50 percent of New Jerseyans remain opposed to casino expansion, meaning Atlantic City’s brick-and-mortar monopoly would stay in tact, while 42 percent stated they favor allowing the area that is northern to move forward. That’s a change that is drastic as recently as June, when 56 % opposed expansion and just 37 % favored it.

‘The public continues to be skeptical,’ Fairleigh University Professor Krista Jenkins said. ‘Once the details of the legislature’s intentions become known, the public’s opinions will be affected.’

Atlantic City Bankruptcy

The difficulty in deciding whether two gambling enterprises should be permitted to be built over the Hudson River from Manhattan is twofold.

Lawmakers in nj are looking for brand new sources of revenue to finance expenditures and escalating debt. Locating casinos closer to the many millions of new york and North Jersey residents would likely do simply that, however it would presumably also drastically cut into Atlantic City’s already economy that is dire.

Regional leaders within the seaside gambling resort town are requesting additional state aid, but State Senate President Stephen Sweeney (D-District 3) recently introduced legislation for the state takeover of Atlantic City’s finances. Governor Chris Christie (R) sided with Sweeney this by vetoing three relief rescue packages week.

‘ The governor is not going to ask the taxpayers to continue to be enablers in this abuse and waste,’ Christie spokesman Kevin Roberts stated.

Christie’s veto has led Atlantic City Mayor Don Guardian to jeopardize bankruptcy. That could potentially hurt the state’s overall credit rating while increasing borrowing prices for Trenton.

To file for bankruptcy, the state legislature and Christie will have to approve the action, which seems very unlikely.

‘My objective is to save lots of Atlantic City also to avoid bankruptcy,’ Sweeney has stated.

Atlantic City is $240 million in debt, $33.5 million short on its budget that is municipal owes the Borgata $160 million in property tax overpayments. Permitting the town to file for bankruptcy would allow Atlantic City to pay for only cents on the dollar on those debts.

Spend Money to Lose Money

Leaders in Trenton recognize that competition from neighboring northeastern states has generated a struggle that is economic Atlantic City. Brick-and-mortar casino venues now surround what was when the sole gambling mecca of the East Coast, with Pennsylvania, brand New York, Delaware, and Maryland all now gambling-friendly jurisdictions.

The problem, at least into the minds of state lawmakers, is that neighborhood officials have done little to overhaul investing and adjust to the changing market.

Atlantic City generated $5.2 billion in income in 2006. It earned less than half that, simply $2.56 billion, in 2015.

Sweeney believes the town’s $262 million budget is negligent for an area with under 40,000 residents.

It’s shaping up to be always a rather exciting political year in New Jersey. Come November, not only will citizens in the Garden State perhaps see their governor as the Republican nominee for president (although that still looks like a shot that is long this juncture), they’ll also be confronted with a few decisions to make regarding how to rescue, or perhaps bid adieu, to Atlantic City as they’ve known it for many years.

Poker Pro Phil Ivey Expands Daily Fantasy Sports Site to his empire

Poker pro Phil Ivey is gambling regarding the continued rise of day-to-day fantasy recreations through his business undertaking that is latest, PhilIveyDFS. (Image: Tom Donaghue/AP Photos)

PhilIveyDFS, a new fantasy that is daily platform delivered by poker star Phil Ivey, will soon begin offering daily dream sports (DFS) contests on a variety of leagues including the NFL, NBA, MLB, and NHL.

Ivey is no complete stranger to games outside of poker, the game which has made him children name not to mention a multimillionaire. The habitual gambler made headlines recently for advantage sorting cards while playing baccarat in both Atlantic City and London, in cases which have both involved protracted legal battles over payouts because of the casinos included.

This new Jersey native who now resides in Las Vegas is turning their attention to DFS in what he hopes will be his next business endeavor that is prosperous. Ranked 5th in all-time live poker earnings with nearly $24 million in real time winnings and third online that is all-time $10.4 million, Ivey is also notorious for losing vast sums during down streaks.

Considered one of the very most poker that is talented the overall game’s ever seen, Ivey’s proceed to invade DFS emphasizes the growing popularity of day-to-day dream competitions.

Ivey’s Group

Unlike DFS market power players DraftKings and FanDuel, PhilIveyDFS is not building a platform from scratch or trying to form their very own standalone community of players. Instead, the poker star is teaming with the iTEAM Network that offers a turnkey DFS platform for clients.

iTEAM provides software solutions for companies and brands thinking about venturing into DFS that do not have the capabilities or player bases to sensibly launch their separate site. That means that Ivey is hardly the company’s only client, of program.

In fact, iTEAM hosts numerous DFS pages, you wouldn’t know it as the organization replaces their branding with the customer’s, which in this situation are going to be Phil Ivey.

The platform links different player pools to generate bigger contests with larger payouts, a key necessity so that you can have any chance of rivaling market leaders DraftKings and FanDuel, which are both valued at over one billion dollars each.

‘Adding the Phil Ivey brand will substantially increase network-wide player liquidity and prize pools,’ iTEAM CEO Gabe Hunterton stated. ‘ We have currently started an aggressive advertising and execution plan in which PhilIveyDFS users should be able to compete immediately for more than $20,000 in weekly pro basketball contests and interact directly with Phil.’

Although that type or types of prize pool is nothing to sneeze at, it pales in contrast to DraftKings’ upcoming $4 million Fantasy Basketball World Championship.

Fighting the Law

The environment surrounding day-to-day fantasy games is certainly complex. Lawmakers over the US are furiously wanting to determine if the marketplace is legal.

The contests are said by some leaders should be permitted, others are asking for further investigation, and then there’s New York State Attorney General Eric Schneiderman, who would like to penalize DFS operators towards the tune of vast sums of dollars.

It’s really a predicament that is precarious remains unresolved.

DFS operators have been delivered out of city on a rail by Nevada’s Gaming Commission after the Silver State’s attorney general, Adam Laxalt, declared that it’s not legal.

But Ivey, using a third-party platform, is apparently hedging his wagers by having iTEAM as the actual operator. Which is one of the reasons this network was chosen by the poker player.

‘I had been honored to have multiple options but iTEAM Network’s focus on compliance and the core technology … ultimately managed to make it a fairly decision that is easy’ Ivey said.

Federal Court Rules for Amaya in Illinois Loss Healing Case, Could Affect Kentucky Case Outcome Also

In Illinois, Federal Appeals Judge Richard Posner dismissed a situation to claw back gambling losings from PokerStars on the grounds that rake does not winnings that are equal. (Image:

Amaya will not be needed to pay back money lost by Illinois gamblers on PokerStars before Black Friday, a court that is federal ruled.

The Court of Appeals for the Seventh Circuit week that is last the earlier judgement of an Illinois court that a 19th century law made to presumably protect both players who could have been swindled with a hustler back in the day, plus the categories of destitute gamblers, may not be invoked in an effort to claw back money from PokerStars.

The initial case had been brought by two Illinois mothers, who were seeking reimbursement for cash lost by their sons, along with other players. The foundation of these claim is definitely an old statute nevertheless in the books called the Illinois Loss Recovery Law, which allows losing gamblers to sue winners for the return of these losings.

The law states:

Anybody whom by gambling shall lose to any other individual, any sum of cash or thing of value, amounting to the amount of $50 or more and shall pay or deliver the same or any part thereof, may sue for and recover the money or other thing of value, so lost and paid or delivered, in a civil action against the winner thereof, with expenses, in the circuit court…

Statute of very limitations that are few

The statute also theoretically permits parties that are third recover up to 3 times the amount lost. The winnings if a losing gambler does not sue the winner within six months, then ‘any person’ can claim up to three times.

While the 2 mothers claimed their sons had lost $50 each playing at PokerStars, these were, in fact, seeking to reclaim an undisclosed amount on behalf of other random Illinois losers too, possibly running into the millions.

The judge within the case that is original the suit for neglecting to meet with the appropriate thresholds, and failing to cite any particular ‘winning players’ or the times on which the alleged losings occurred. He additionally made the distinction that is important rake charged by PokerStars could not be defined as ‘winnings,’ therefore PokerStars had not been the ‘winner’ at all.

Not Winning

A panel that is three-judge the federal appeals court agreed with this summary.

‘Their issue is that the defendants are not the winners of any game that any associated with plaintiffs (or their sons) played,’ wrote Judge Richard Posner on behalf of the panel. ‘Charging a fee for engaging in gambling is not the same as winning a gamble; a croupier who supervises a casino’s poker game is not a gambler, let alone a success.’

It is a point that appears to be lost on the State of Kentucky, which can be trying to sue Amaya for the $870 million for a comparable basis and using a similarly antiquated state law, except that in that situation, the money would head to the state if successful.

Amaya is taking heart from the federal judgment in Illinois.

‘We are happy with this decision which is applicable a modern good sense approach to an out-of-date gambling law,’ said Eric Hollreiser, vice-president of communications for Amaya and PokerStars. ‘We certainly hope that Kentucky courts apply the same modern logic.’