It’s good to be always a casino industry lobbyist or lawyer New that is representing Jersey gaming, based on the latest reports (Image: thepublici.com)
Everyone understands that whenever it involves gambling, the house always wins. In the full case of online gambling in New Jersey, it appears that the lobbyists and lawyers do pretty well on their own, too.
Support Services Make Bank
According to disclosures posted by the New Jersey Division of Gaming Enforcement, the online gambling industry has resulted in $50.3 million in payments to lawyers, lobbyists, and other professionals since mid-2009. The numbers came just days before the first revenue numbers are scheduled to be released for New Jersey casino web sites, and are element of an unusual requirement in brand New Jersey that demands disclosures for many professional re payments.
‘Many states have statutes requiring public disclosure of revenues by lobbyists, including New Jersey, but this is the first time we have actually ever been aware of a gaming regulatory agency requiring disclosure of payments to lawyers,’ said Nicholas Casiello Jr., a lawyer with the Fox Rothschild firm’s video gaming team in Atlantic City.
This first report covered everything from July 2009 through December 2013, with future reports being made public for a quarterly basis.
The biggest ‘winner’ in terms of legal services was Brownstein Hyatt Farber Schreck, L.L.P., which made $1.89 million in legal fees. That’s in addition to another $2.83 million from activities described as a mix between lobbying, consulting and appropriate services, bringing their haul that is total to4.72 million.
However, the disclosures additionally showed so how site that is unclear were about what precisely they had to report. Some of the reports featured payments related to lobbying outside of Internet gaming issues, while others included expenses that came from on line gambling efforts in other states.
The level of detail within the reporting diverse significantly as well. The Borgata simply reported two categories of re payments: one to a lawyer, and another with a lobbying group. Having said that, Amaya Gaming Group and Ultimate Gaming included everything that might possibly be relevant, down up to a payment of $19,380 up to a mathematician to help develop games that are online.
Lobbying companies did instead well, collecting an overall total of $3 million from companies in the market since 2009. The biggest chunk of that money went to Public Strategies Impact, which took in $37,500 every quarter from Caesars Entertainment. Some individuals had been reported to have received big repayments, too: TV poker personality Mike Sexton took in between $100,000 and $300,000 a year from Bwin.Party so as to be their brand ambassador.
Not All Were Revealing
Perhaps the more surprising facet of the disclosures was which and how many companies involved in New Jersey’s online gambling industry actually complied with the requirement to disclose payments. According to reports, only about 40 percent regarding the firms which should are required to file ‘Internet Gaming Disclosure Statements’ actually bothered to do so. However, that number is a bit misleading, as all the major players in the industry presented their statements, while secondary companies included in the industry were spottier in their involvement.
‘Each of hawaii’s 11 casinos has filed and all seven of the state’s licensed Internet platform providers have filed the division’s disclosure form,’ stated Lisa Spengler, spokesperson for the Division of Gaming Enforcement. ‘The unit intends to adhere to up with licensed vendors that have actually not yet submitted an answer.’
Unlucky descent that is seven-Year Atlantic City Falls Below $3 Billion
It is been a seven-year run of bad luck for Atlantic City’s casinos, revenue-wise. (Image: Moonbeam 13)
It’s amazing exactly what a difference seven years myfreepokies.com could make. Atlantic City which was going strong and winning $5.2 billion from gamblers in 2006 has seen seven straight several years of declining revenues, culminating within the city’s 12 (now 11) casinos bringing in less than $3 billion in gambling revenues for the time that is first 22 years in 2013.
The figure that is exact was launched recently by the New Jersey Division of Gaming Enforcement came to $2.86 billion, or near to a five per cent drop from the $3 billion the casinos brought in during 2012.
There have been many contributing factors over the years that have actually held the losing streak going for Atlantic City’s casinos. But whilst the 2008 recession and also the damaging effects of Hurricane Sandy in 2012 certainly hurt the gambling resort, the number one basis for the decrease is increased competition from nearby casinos.
In reality, the downturn coincides exactly with the year if the area started getting more competitive for casino operators overall. A destination closer to home in 2006, the first casino was built in Pennsylvania, giving gamblers especially casual casino visitors. There are now 12 Pennsylvania casinos, so that as of 2012, they were bringing much more money in total than their Atlantic City counterparts.
The decline had real-world implications at the start of 2014, as the Atlantic Club Casino Hotel shut down mid-January, leaving the populous city with just 11 operating casinos.
Can Internet Gambling Save the afternoon?
But, industry insiders state in 2014, as the introduction of online gambling should provide a much-needed boost in revenues during the coming year that they expect this trend to reverse itself.
‘Obviously it’s disappointing to see another where it’s a decline,’ said Tony Rodio, head of the Casino Association of New Jersey and president of the Tropicana Casino and Resort, which snatched up a piece of the Atlantic Club and will be taking most of the casino’s gaming equipment year. ‘But hopefully by the addition of Internet gambling, we think you’re going to see an increase in 2014.’
The 2013 yearly figures were the first-ever to consist of on line gambling revenue in brand New Jersey, as their state’s Web casino market opened in late November. Overall, gambling enterprises took in $8.4 million in winnings during that time. The lion’s share of the revenue ended up being split between the Borgata and Caesars Interactive, which combined to bring in $6.1 million of that total.
The winner that is largest of all was the Borgata, which won $3.7 million on its PartyPoker-branded online gambling sites.
‘ Our network has attracted the pool that is largest of players in this new Jersey online market, allowing us to provide our clients a wide selection of games and table stakes at all times,’ said Keith Smith, president of Boyd Gaming (a firm that owns half of the Borgata). ‘This gives our network a significant advantage that is competitive positions us for further success.’
According to Smith, there was clearly also proof that the online casinos were bringing in additional revenue, versus simply shifting money from land-based operations to your online.
‘When matching our online and land-based databases, we discovered that 60 percent of on line casino customers wasn’t to Borgata in over per year, and over 75 per cent had made fewer than two trips to Borgata in the year that is past’ said Smith. ‘And on a combined basis, on line and land-based poker revenue at Borgata was up more than 40 percent from our land-based play in December 2012. Clearly, online gaming is complementary to our land-based business, maybe not competitive.’
Still, it’s not yet certain whether online gambling shall be the city’s monetary savior. Overall, casinos took in $222 million in December 2013 including their websites on the internet which was still down slightly from the $223.5 million they took in during December 2012.
Poker web Site 888 Wants Hakeem Nicks to Add an 8 to His Jersey
NY Giants receiver that is wide Nicks will have an extra ‘8’ on his team jersey, if poker site 888.com gets their method (Image: BSO.com)
Into the arena that is overcrowded of to get the title on the market, sometimes you merely have to think outside the container. That is the thinking, evidently, associated with the marketing geniuses at 888.com, a poker that is online now licensed into the newly launched nj-new Jersey online casino market, when they offered New York Giants wide receiver Hakeem Nicks $88,800 to legally change his name to 888.com.
Anything for Attention
While pretty obviously just a publicity stunt to obtain shmucks like us to write the story up, it’s unlikely that a check for under $89K is going to get a pro football player all that excited; heck, these guys spend that much on bottle service on any given Las Vegas week-end. But it’s a catchy press release and an amusing concept. More than that, it looks at the very least in part in reaction to last week’s first-time-ever advertising alliance between an online poker site partypoker.com and two major sports that are pro: the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils.
Of course, ya gotta have a gimmick, as Gypsy Rose Lee once said ( at the least in the musical about her), so this is 888’s.
‘We’re excited that 888.com is ready to go in nj,’ said 888 Holdings CEO Brian Mattingley. ‘with other area notables as we consider 888 to be the premier gaming site in the Garden State, we thought it was appropriate to align ourselves. We’re able ton’t consider a more fitting local athlete than Big Blue’s very own number 88, Hakeem Nicks. We are also mindful that Hakeem’s contract is up, that he sees this being a gesture to remain and being an possibility to benefit a nearby charity that he supports. so we hope’
Never ever hurts to throw in some community feel-good elixir either, does it.
Nicks Not Biting
Additionally not too surprisingly and vaguely reminiscent of a present cryptocurrency launch that used Kanye West’s name even though he had no actual participation with the item Nicks hasn’t responded, allow alone stated yay or nay. It is been a tough year for Nicks; he caught 56 passes for 896 yards, giving him an average of 16 yards per catch, and also had 14 catches for 20-plus yards together with longest going for 57 yards. However, he went the whole period without reaching the end zone.
While no body really believes he will take 888 up on this creative offer at minimum perhaps not only at that price point if he did opt to proceed, there is a complete bunch of documents to take care of, as anyone who’s ever gotten married or divorced can attest. Another one to the Social Security office, passport office and any and all banking institutions, Nicks would have to get a papal blessing from the NFL besides the usual trips to the DMV to change his license.
If which were to happen and there is the precedent of Ocho Cinco, who changed his title from the more mundane Chad Johnson back in 2008 Nicks would then trade in his current team jersey for a new one saying ‘888’ which may be a publicity victory worth a whole bunch more than $88,800 for the poker site.