Posts Tagged ‘Gaming’

New Jersey Earns $9.46 Million In January Online Gaming Revenue

Atlantic City, New JerseyWhile brick-and-mortar casinos in Atlantic City continue to take a hit, the good news is that the online gaming market saw a 28 percent growth from December to January, taking in a total of $ 9.46 million in revenue.

According to the New Jersey Division of Gaming Enforcement, there were 197,782 total online gaming accounts in the state at the end of January.

A total of six casino operators offer online gambling, with the Borgata leading the way with $ 3.9 million in revenue with their Borgata Poker platform, powered by PartyPoker. Caesars finished in second, bringing in $ 3 million with their WSOP.com product.

Although the online wagering helped to offset losses, the state’s 11 casinos still only generated $ 186.3 million in January, representing a 9.2 percent drop from 2013.

New Jersey was the third state to license and regulate online poker, following Nevada and Delaware.

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Published on 11:30 am by Administrator

Category: Poker

Tags: , $9.46, Earns, Gaming, January, Jersey, Million, Online, Revenue

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Casino Mogul Voices Online Gaming Opposition

Previously, all signs seemed to indicate that Steve Wynn was fully on board with gambling moving into the online realm, but as a Friday interview with Ralston Reports showed, that might not be the case. Wynn expressed views that basically echoed those of Sheldon Adelson, CEO of Las Vegas Sands and online poker’s most outspoken opponent.

It’s a little muddled where Wynn’s back-tracking on the issue comes from. He reportedly said that he’s concerned that the federal government would tax online gaming revenue at too high of a rate. Wynn is a staunch Republican and dislikes Obama.

Wynn also reportedly said of the technology to keep minors out, which others apparently have touted as flawless: “I’m sure it was impressive if you were a cyber guy. But it was bullsh—.”

The prevailing sentiment among others in the industry, as expressed at various hearings in recent memory, is that online gambling sites aren’t perfect at preventing those who shouldn’t be playing from playing, but neither are brick-and-mortar casinos.

According to the report, both Adelson and Wynn are worried about online gambling creating a scandal terrible enough to affect the image of brick-and-mortar gambling. It is worth noting that Wynn is in the middle of an expensive campaign to build a casino near Boston.

Wynn’s feeling on the chances of a federal bill for online gambling coming to fruition are pretty much inline with some others in the casino industry. It just has little chance of happening, so his opinion, while important, is not too new.

“[Legalizing web gaming] can’t get through the House of Representatives,” Wynn said. “They can’t agree on anything, especially something this esoteric.”

Online gambling has long been considered a state-by-state issue.

Now, Adelson has expressed interest in pushing forward a bill that would ban online gambling in the United States. That, also, is a far-fetched proposal. His anti-online gambling campaign will likely be most felt at the state level, where he recently found allies in the former of at least 10 state attorney generals. A lot of the work of the “Coalition to Stop Internet Gambling”, which Adelson has pledged to fund endlessly, has been coming in the form of public relations.

Currently, three states, Nevada, New Jersey and Delaware have legalized web gambling. Ironically, Wynn Resorts has been licensed by Nevada to offer web gambling, though it hasn’t yet done so. Just recently, New Jersey said OK to Wynn partnering with Caesars Entertainment Corp. for Internet betting in New Jersey. Wynn also had a tentative deal with PokerStars for online poker in Nevada, but that was pre-Black Friday.

While Wynn isn’t a member of the American Gaming Association, Las Vegas Sands is. The AGA has been lobbying heavily in favor of Congress legalizing online poker.

Wynn, 72, and Adelson, 80, are both immensely experienced in the gambling business, but with developing casino-resorts, not with the web. Wynn admitted that.

“I know how to do [casinos],” Wynn said. “But I don’t know how to do that on a 17-inch screen.”

Wynn’s comments, while troubling to online poker supporters, aren’t quite as strong as Adelson’s, who once called online gaming a “toxin” to society.

Another reason for Wynn and Adelson being less than interested in online gambling in the United States? Las Vegas Sands took in $ 8.96 billion from its Macau operations in 2013, out of its overall revenue of $ 13.77 billion. Wynn Resorts posted $ 5.62 billion in overall revenue for 2013, $ 4.04 billion of which came from Macau.

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TheFly


6 hours ago

Buggy Whip manufacturers must’ve hated the invention of the horseless carriage and tried everything they could to stop its proliferation!

Get on the right side of history Sheldon & Steve, you may be able to delay but will never be able to stop inevitable technological innovation and mass consumer demand.

Reply

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Published on 5:31 pm by Administrator

Category: Poker

Tags: , casino, Gaming, Mogul, Online, Opposition, Voices

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Nevada Gaming Control Board To Help Olympics Combat Cheating

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Published on 11:30 am by Administrator

Category: Poker

Tags: , Board, Cheating, Combat, Control, Gaming, Help, Nevada, Olympics

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Caesars Alleges Mass. Gaming Regulator Personally Asked Steve Wynn To Remain In Race For Casino

Caesars Entertainment Corp. recently filed an amendment to its lawsuit against the chairman of the Massachusetts Gaming Commission.

The firm has now accused the state’s top gaming regulator of personally calling Steve Wynn, owner of Wynn Resorts, to encourage him to remain in the hunt for a casino in the Boston area. Caesars was once in the race, but withdrew after regulators expressed concern over the company’s business activity.

Caesars has denied any wrongdoing in matters related to the regulatory investigation.

“Notwithstanding his statutory role as the unbiased overseer of the Massachusetts gaming license application process, [Stephen] Crosby, in the company of another commissioner, took it upon himself to place a call to Wynn and to ask Wynn to remain in the Massachusetts licensing process,” Caesars attorneys wrote in the federal lawsuit.

Wynn took it upon himself last week to deny the claim.

“At no time has any member of the Massachusetts Gaming Commission ever initiated contact with me and I have never been discouraged from withdrawing from the licensing process in Massachusetts,” Steve Wynn said in a statement.

He added: “This lawsuit and the misrepresentations included within it are a shameless, desperate attempt by Caesars to deflect attention from the serious issues raised in their investigation, including their current financial condition.”

Wynn was once frustrated by the Commission’s comments and questions regarding Macau.

The Las Vegas Review-Journal has more on the story.

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Published on 5:30 pm by Administrator

Category: Poker

Tags: , Alleges, Asked, Caesars, casino, Gaming, Mass., Personally, Race, Regulator, Remain, Steve, Wynn

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Nevada Gaming Revenue Up Big In November

Slowly, but steadily, Nevada’s casino industry is rebounding after the Great Recession.

On Monday, state gaming regulators released a report that showed that Nevada’s nonrestricted gaming licensees reported a total “gaming win” of $ 875,968,501 for the month of November 2013. This amounted to an 11.91-percent increase compared to November 2012, when licensees reported a gaming win of $ 782,770,511.

For the fiscal year (July 1, 2013 to November 30, 2013), gaming win has increased 3.32 percent. Albeit small, the gain is very important.

In calendar year 2012, Nevada casinos took in $ 10.8 billion from gamblers. The official numbers aren’t in yet for 2013, and won’t be for a little while, but 2013 could be stronger.

The $ 10.8 billion marked an 1.5-percent increase from 2011.

Although gambling is present across the United States, many people still look at the Silver State’s performance as a true vital sign for the industry.

Nevada is one of three states with online gambling.

In 2012, commercial casinos in the U.S. won $ 37.34 billion from gamblers, which was the highest since the record set in 2007. Another AGA report should come out in the spring.

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Published on 11:30 am by Administrator

Category: Poker

Tags: , Gaming, Nevada, November, Revenue

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Caesars Entertainment Files Lawsuit Against Massachusetts Gaming Commission Chairman

MGC Chairman Stephen CrosbyIn late October, Caesars Entertainment announced that it was no longer pursuing their partnership with Suffolk Downs Racetrack to bring a casino to the Boston area after the Massachusetts Gaming Commission expressed concerns about one of Caesars’ subsidiaries.

Caesars, which denied any wrongdoing, has now filed a lawsuit against MGC Chairman Stephen Crosby, whom they believe is playing favorites with the casino license. According to the lawsuit, Crobsy failed to disclose a friendship and business relationship with Paul Lohnes, a part-owner of land for a potential casino operated by Wynn Resorts.

Ironically, Wynn has considered backing out of their $ 1.3 billion project in Everett, Massachusetts because the company reportedly finds the regulatory process in the state unjustifiably strict.

At the time of their withdrawal from the Massachusetts casino license bid, Caesars CEO Gary Loveman criticized the commission for their state investigators’ findings in a suitability hearing.

“It’s going to be very difficult for sophisticated, multi-jurisdictional operators to tolerate the environment this commission has created,” Loveman said.

The lawsuit claims that Crosby has caused both “reputational and economic injury” and that he “deprived plaintiffs of their due process and equal protection rights and tortiously interfered with plantiffs’ relationship with Suffolk Downs and right to fair consideration in the gaming suitability process.”

Since the competition for licenses in the state started in 2012, casino giants such as Ameristar, Hard Rock, Penn National Gaming and Mohegan Sun have all given up on Las Vegas-style gaming projects.

MGM Resorts International is still hoping the MGC finds them suitable for a license in Springfield, though a 500-page report by investigators found issues with the company’s dealings in Macau, among other concerns.

Massachusetts passed a gaming act in 2011 that would allow for three regional casinos and one slot parlor. The MGC hopes to issue their first license by late February, 2014.

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Published on 11:30 am by Administrator

Category: Poker

Tags: , against, Caesars, Chairman, Commission, Entertainment, Files, Gaming, Lawsuit, Massachusetts

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New Jersey Lawmaker Ray Lesniak: State Can Be ‘Mecca Of Internet Gaming’

New Jersey has only been in the Internet gambling business for a couple of weeks now, but things have been going well enough that one lawmaker is already dreaming bigger.

Garden State Senator Ray Lesniak, who spearheaded the bill that authorized online gambling, once said that he wanted to make New Jersey the “Silicon Valley of Internet gaming”, but he has revised those ambitions. He told Card Player Friday that based on the success of the state’s games so far, he wants New Jersey to be the “Mecca of Internet gaming.”

In order to do that, he is working on legislation that might help entice large foreign Internet gambling operators to decide to make New Jersey their home.

Card Player asked Lesniak about a few topics related to Internet gaming in his state.

Brian Pempus: What do you make of this $ 1 billion revenue prediction for online gaming that the governor keeps citing? He said he expects that figure by July.

Ray Lesniak: I’ve given the opinion from the get-go that the figure is unrealistic, and as you know I am the biggest proponent for Internet gaming in New Jersey, by far. But I am also realistic and understand that we are only talking about six months of real revenues, because of the licensing and start-up times. So, the $ 1 billion…the only person who believes that’s a real figure is Governor Christie himself.

BP: Why do you think that is?

RL: I think he had to blow up his budget to make it look good for his re-election. So he anticipated revenues that just weren’t going to be there. It’s not the only place he’s done that.

BP: What do you make of Sheldon Adelson’s campaign against Internet gaming?

RL: We haven’t heard anything from Adelson since his proclamation that he’ll spend whatever it takes to close down Internet gaming in the U.S. I don’t expect that we will either, for two reasons. Number one: There is no way Congress is going to shut the doors on New Jersey after we are generating hundreds of millions of dollars in revenue from Internet gaming. There is no way Congress would shut that down and there is no way the New Jersey Congressional Delegation would do that. I don’t believe there is any way Congressional representatives would do that to other states because then it could happen to them as well. Number two: Adelson is fighting a losing battle. You cannot shut down the Internet. He has given himself an impossible task no matter how much money he has to spend.

BP: Now you have been working on increasing liquidity for New Jersey. Talk about the idea of bringing foreign online gaming operators into New Jersey.

RL: That really…we are doing well. We are already over 75,000 accounts and more every day. We are doing a lot better than Obamacare here in the state of New Jersey. So, liquidity is not an issue for New Jersey. Under my proposal the player pools wouldn’t be mixed. It would only be for players located outside of the United States, and it would be to attract companies that would want a safe and secure regulatory environment that New Jersey brings to the table…Right now, federal law would preclude international players playing online against New Jersey players.

BP: Now in some ways you have already surpassed Nevada. Can you talk about this?

RL: Well, it shows the strength of our economy. We have a much wealthier state than Nevada and many more people, which gives us a big advantage. Also, our games aren’t restricted right now to just poker.

BP: As for PokerStars’ New Jersey bid, is the firm still going through the review process?

RL: Yes. It is in the hands of the regulators. I don’t know anything, and I don’t want to know anything (laughing). It’s none of my business…Obviously I have stated that we would love to have PokerStars up and operational in New jersey because they bring a whole lot of expertise and a big brand name to the market.

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Published on 5:30 pm by Administrator

Category: Poker

Tags: , 'Mecca, Gaming, Internet, Jersey, Lawmaker, Lesniak, State

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Maryland Gaming Chief: State Will ‘Keep An Eye On’ New Jersey’s Internet Games

Just like in a game of poker, the state of Maryland has been reacting to the aggressive betting moves of others at its table.

Maryland is in a region full of various gaming expansion initiatives. Earlier this year, its first casino debuted live dealer table games. The move is expected to significantly strengthen the industry there. It also doesn’t hurt that Caesars Entertainment will open a casino in Baltimore and that MGM Resorts International and Penn National Gaming are battling it out for approval to build in Prince George’s County. In terms of gaming, Maryland will be busy for quite some time.

Card Player had the chance to speak with Stephen Martino, the Director of the State Lottery and Gaming Control Agency, about the importance of these games, whether Maryland has been looking at possibly offering Internet poker, as well as what effect New Jersey winning its sports betting battle would have on Maryland and other states in the region at large.

Brian Pempus: Can you talk about how table games in the state have fared so far?

Stephen Martino: We think it has been a positive development for the Maryland casinos. I think it was passed with a couple of things in mind. One was creating economic development opportunity through the hiring of a a large number of people to work on them, and that’s what happened. Also, I think that the feeling, and I believe it was accurate, was that Maryland casinos were never going to be regionally competitive without table games. I think we had perfectly fine regional facilities that were slots-only, but there was still going to be a large number of people who would drive to states — West Virginia, Pennsylvania and Delaware — and gamble because we didn’t have dealer-operated table games. The addition of those at three of our four casinos has changed that dynamic, and I think that we have been able to redirect some of that money back into the state of Maryland.

Our gaming industry is still in its infancy or maybe in its toddler stages now. We opened our first casino less than three years ago, and there has been rapid development of the gaming industry in the mid-Atlantic. It is a hyper-competitive gaming environment. I think to the extent that there was anything that kept us from being competitive…it was an issue that we wanted to address, and the legislature did last year. The question was taken to the voters and they voted in favor of getting table games and adding the additional license in Prince George’s County. So, I think that specific to table games, there were competitive concerns and obviously wanting to get this additional economic benefit in the form of the jobs it would create.

BP: Can you talk about any future of online gaming in Maryland? Do you view the implementation of table games as a necessary step to eventually off similar games on the Internet?

SM: That really has not been discussed at all. That just hasn’t come up yet in our public policy development. It would take action by the legislature. I think the feeling is to get the casinos up and going, continue to measure what the competitive forces are around us, to the extent that we consider New Jersey to be a distant competitor. Two of the four states that are kind of in our competitive area have or are going down the road with some form of online gaming, and that’s something we are going to have to keep an eye on.

BP: Is it advantageous to see how these other jurisdictions do online gaming? You could maybe learn from some of their mistakes or know how to do it better when Maryland is ready.

SM: Somebody has to be first. I would hope that their developments go as they would want them to. But yeah, that is how this entire [casino and gaming] industry has grown. It started initially in Nevada, and moved over to New Jersey. A lot of states have a largely crafted their [gaming] regulatory systems based on one of those two states. They have matured and developed beyond that. If we are ever in a position where we are looking to implement some form of online gaming, we will certainly look at the states that have gone before to get perspective and a handle on the best practices.

BP: You mentioned New Jersey, and they want to go ahead with sports betting. If it wins its case and eventually is allowed to offer that type of betting, do you think that others in the region could also pursue it, and would that be something Maryland might entertain down the line?

SM: Well, I think — again sports betting is illegal — between efforts in New Jersey to either overturn the law through litigation or have it done in Congress; I would think that the former is far more likely than the latter…I think that is something that there’s going to be a lot of interest in. I think that there is quite an appetite for sports betting. When I go out and talk to people in the community and boards that I am on, no one really asks about online, but probably the biggest question I get from people is when will we get sports betting here. You explain to them that it’s prohibited by federal law and what all it would take to get in there — obviously people are not aware of that — but I think that if something were to happen in New Jersey you would certainly see a lot of other states run to it. I think throughout the country there is probably a ferocious appetite for sports wagering, both on games and fantasy leagues and all iterations of it.

BP: For the casual observer who doesn’t know too much about the state’s gaming industry, what can one look forward happening in Maryland in 2014?

SM: In 2014 you are going to see a maturity of our casinos and we can start getting into year-over-year numbers on the tables. The other big thing would obviously be the opening of Horseshoe Casino in Baltimore City. That will rearrange the gambling landscape here a bit and we will get five of the six licenses up. 2014 will be an active year for us.

Image via the Associated Press.

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Published on 12:30 am by Administrator

Category: Poker

Tags: , ‘Keep, Chief, Games, Gaming, Internet, Jersey’s, Maryland, On’, State

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Poker Business: Golden Gaming, 888, Treasure Island Arrangement Given OK

The Nevada Gaming Control Board gave preliminary approval to a deal between Nevada-based Golden Gaming and Gibraltar-based online poker site 888 Holdings.

The arrangement would allow customers at Golden Gaming’s taverns across the Silver State to sign for online poker accounts for a site run by 888 and Treasure Island — an on-the-Strip casino that has an existing deal with 888.

Golden Gaming has three casinos of its own, and they are in Pahrump.

The deal has been classified as a marketing arrangement.

“This is a good example of new ideas coming to the marketplace,” Gaming Control Board Chairman A.G. Burnett said at the Wednesday hearing, according to the Las Vegas Review-Journal. “It’s an attempt to add further liquidity. I, for one, welcome it.”

888 will also be doing business with Caesars Entertainment Corporation and its storied World Series of Poker brand, but that relationship is not part of the one with Golden Gaming and Treasure Island. Treasure Island has not launched its online poker product yet.

According Nevada law and its gaming regulations, only firms that own brick-and-mortar casinos are allowed to be “operators” of online poker. Firms like 888 are considered “service providers” and manage the back-end of the games.

While Golden Gaming is not involved with the operation of the future poker site between 888 and Treasure Island, it does have its own license to run online poker. Its subsidiary Sartini Synergy Online, LLC received its license for online gaming earlier this year.

The deal with 888 and Treasure Island reportedly would not turn the taverns in online poker hubs. To stress, it’s just a marketing deal, one with revenue sharing.

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Published on 6:30 pm by Administrator

Category: Poker

Tags: , Arrangement, Business, Gaming, Given, Golden, Island, Poker, Treasure

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Former Nevada Gaming Control Board Chairman Talks About How Online Poker Arrangements Between States Might Look

Former Nevada Gaming Control Board Chairman Mark Lipparelli knows online gaming as well as anyone. After being appointed to the Board in 2009, Lipparelli eventually was at the forefront of the Silver State’s charge into the Internet gaming business. In late 2011, Nevada became the first state in U.S. history to adopt regulations for online poker. Lipparelli stayed on the Board until September of last year, stepping down because he had chosen not to serve another term.

Thanks to leaving his position as a regulator, Lipparelli has returned to the private sector and has been working on a couple of projects in addition to some consulting.

Card Player had a chance to speak with him on Friday about what he sees happening in the near future with legal and regulated online gaming in the United States. He weighed in on federal efforts, which he said are likely dead, and what the industry will look like with states making arrangements to share player pools, and thus revenues.

Brian Pempus: What do you make of Nevada’s progress in the online gaming realm in the time since you left the Gaming Control Board?

Mark Lipparelli: Nevada is ready for its next chapter. Getting established was an important milestone, but now the policymakers need to focus on expanding to additional markets.

BP: Do you see a Nevada-New Jersey compact coming sometime next year like it was speculated by MGM’s CEO Jim Murren?

ML: I would say that it’s likely that state-to-state, multiple-market initiatives will begin in 2014. It’s a little more challenging to peg which states. I’m a believer that we’re going to see states begin to compact with each other or even allow cross-border access to markets, and maybe it wouldn’t even require a compact of any kind. That’s a likely thing to occur.

BP: Were Nevada’s web gaming regulations crafted in such a way to give flexibility to such opportunities and to mesh well with other jurisdictions that might have their own regulations?

ML: I think they were. It’s important that it’s done in that manner. The notion of having far-reaching agreements is not the right direction. Instead, permissions between states are more likely the way to go. I don’t think far-reaching agreements or compacts are a smart approach. That becomes too complex, and I think it will lead to long gaps of time. The more the policymakers can remain flexible the better off they’ll be.

BP: So you think some states could offer up their populations to the industry without the long legislative process, instead allowing it to come in from a licensed Nevada operator?

ML: I think that’s what I meant by permissions. There are several opportunities where it may be something akin to a state allowing participation in gaming markets where such operations are legal and licensed. That’s an important component. I could foresee some jurisdictions incorporating a change in the law that says something to the effect of that if it’s a licensed entity from another jurisdiction that such play can take place within that border. That’s a simple and effective approach. Not every state is going to try to navigate a complex regulatory and licensing structure. It may be most expedient for them to pass some sort of permissive law, assuming at the core of that is that entities that can access those markets are legal.

BP: Given all of this and the advanced nature of what’s happening in Nevada and New Jersey, do you think the ship has sailed for a federal online poker bill?

ML: I don’t anticipate that there’s much hope for any federal progress, which for me is a change in position. I think that the time for federal legislation is probably behind us.

BP: Do you say that because it would be hard to insert a federal regime into what’s already going on and that might be increasingly difficult as time goes on?

ML: Yeah, I’ve said in the past that the window of opportunity to get something in place was closing. I meant that. The window is essentially closed. There are several markets that are in the process of opening; commercial commitments have been made and licensing events have taken place. The time to act was during the last 24 months. The complexity associated with unwinding now is probably too great.

BP: What do you make of a state like Delaware, which has such a small population and is doing online gaming in a slightly different way than the others, and how do you see it fitting in?

ML: That’s why I made the point that the less complexity associated with cross-border play or multiple-markets play is going to be the way forward. Every state will have a slightly different set of criteria for how they set up, and in order for those states to interact everyone is going to have to remain fairly simple with their approach. Adding big complex operating agreements or compacts is going to make it very difficult once you get past the first state. I’ve made this point in the past; that even though the federal window is probably closed, the state-to-state regime is going to be a very complex animal, and the way to keep the complexity to a minimum is not to enter into far-reaching agreements because the next jurisdiction that gets added…you don’t want to be put in the position of having to make too many concessions. It could potentially block the ability of states to enjoy cross-market play. Delaware obviously is going to have to entertain the notion of cross-market play every bit as much as Nevada and New Jersey.

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Published on 12:30 am by Administrator

Category: Poker

Tags: , About, Arrangements, Between, Board, Chairman, Control, Former, Gaming, Look, Might, Nevada, Online, Poker, States, Talks

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