Okada to Meet with Gaming Control Board Over Foreign Payments
The Nevada Gaming Control Board has called in Japanese billionaire tycoon and former Wynn director Kazuo Okada, along side three other directors of his Universal Entertainment Corp., for a closed-door hearing in a few days. It’s all component of the Control Board’s ongoing research into allegations that $40 million in payments ended up being designed to Rodolfo Soriano, certainly one of Universal’s casino project consultants into the Philippines. Probably the insinuation is that Soriano received the money to grease some Filipino palms, but we’d never ever imply such thing, of course.
We are able to only report that both the FBI and the Philippines’ comparable, the National Bureau of Investigation, were looking to the matter to see if anything improprietous had been done. Universal Entertainment has maintained that it acted lawfully in the Philippines; after all, who doesn’t give their experts $40 million being a token of their 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
That is where we need to make clear that no body has really or officially been accused of doing any such thing, particularly anything wrong. But you can observe it may 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 many years now), resigned, but the Board returned with a collective flip off by firing him anyhow with about a 98% approval vote the really next time.
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 classier that is much ‘bribes,’ doesn’t it?) to Filipino heavyweights for his casino projects there. No body in the casino business likes to be associated with anyone whose hands could be dirty, ya know.
Needless to say, Okada has received some allegations of his own towards Wynn also, stating that his 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 globe of high-stakes finance.
Last thirty days, Wynn Resorts retracted some former allegations, such as that Universal had misappropriated trade secrets, that were originally filed in case on Feb. 19, 2012; the retractions signaled a success 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 your company,’ Wynn Resorts responded in an statement that is official. ‘The claim for theft of our trade secrets and business that is proprietary will be ripe if and whenever Okada puts them to make use of in their Phillipines casino, or elsewhere.’
Exactly What’s at risk
The Philippines’ government has placed plenty 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 for a par to compete with Macau and Singapore, two of the very lucrative gaming income producers on the planet. Along side three other gaming developments there, 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 take home a seven-figure score. 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 merely did Chang win $1,138,350 for defeating a particularly tough and table that is deep-stacked he was also awarded $25,000 entry into the WPT World Championship, to be held at Bellagio in Las Vegas from May 18-24. Nice work if you may get it.
Big Names Duke It Out
Seated at the table that is final Chang had been an industry of deep-stacked poker warriors, including Paul Volpe, whom ultimately took third for the $435, 610 payday. This has been a hell of the year for Volpe already, having taken home over $600,000 for second into the WPT L.A. Poker Classic a little higher than a week before, and finishing in the cash in January’s PokerStars Caribbean Adventure 2013 also. Joe Nguyen took home second for $666, 740; he finished 29th in this event that is same year for a $19,200 finish, so must were quite pleased about this much better performance. Other finishes that are top renowned poker pro Eric Seidel for $295, 590 in fourth; Chris Johnson in fifth place for $208, 910; and Joe Kuether in sixth for a $162, 240 reward.
Chang’s past victories of note come with 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 spot 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 absolutely nothing however some TV coverage out of it all.
The Action Builds
Chang entered the last table as fifth of sixth in potato chips on a table that is universally deep-stacked. Starting out by having a healthy 83 big blinds, he expanded to chip leader by the 42nd hand for the table that is final and remained at or close to the leading runner right up to his first place finish. A combination of all deep piles and a really solid band of players resulted in no one even being eradicated until the hand that is 79th.
Things moved a bit faster once action got down to the heads-up match between Chang and Nguyen. It just took six hands for Chang to knock Nguyen out with a straight 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 Cash Out
Minted Poker is given up and embarrassed using the system they currently call home, the Everleaf Gaming Network, and is telling their players to cash out all their money immediately. This is because of what they call ’embarrassing’ money out delays on the community, with most withdrawals using 6 months or higher to process, of the ones that are actually being prepared at all.
As well as telling their players to cash out, they’ve additionally advised players to take several actions in an effort to force Everleaf into action. One is to register complaints with the Lotteries and Gaming Authority(LGA) of Malta, though the LGA has a history that is sketchy of with issues within their jurisdiction and enforcing their rules.
The LGA recently released a statement saying they had looked into the issue of withdrawals at Everleaf and found that a majority of players had been paid to that end. That statement was quickly refuted by a combined group of several players whom advertised the most of their withdrawals still had not been processed more than 9 months after the fact. The LGA included which they would carry on to monitor Everleaf to ensure funds were being properly paid out to the players on its community.
Minted had even taken the step that is drastic block all deposit options for their site; this for the sake of their particular players not to ever sink more cash into the network, as well as to try to spur Everleaf into action. Nevertheless, Everleaf has remained unresponsive throughout the fiasco, which certainly brings their credibility that is current into.
Minted Poker is in the procedure of moving to a network that is new and hopes their players’ money balances will be transferred once that move is completed. With all the state that is apparent of at Everleaf nevertheless, it’s maybe not probable which will come to pass in a nutshell purchase.
Minted Poker is just certainly one of several ‘skins’ on the Everleaf Network. A number of the dozens of other web sites in the community 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 legal action by the Department of Homeland Security. U.S players who had accounts have been unable to withdraw their funds since the move.
PokerStars Battles It Out with the United States Gaming Association
A study from Forbes mag previously this week stated that Caesars Entertainment Corporation, the largest land-based video gaming firm in the world, has recently attempted to offload two of its preferred and recognisable brands to on line poker firm PokerStars.
‘Caesars Entertainment approached PokerStars and agreed to sell us certain assets such as the Rio Casino in vegas,’ stated head of corporate communications for PokerStars, Eric Hollreiser. ‘Caesars Entertainment proposed that this acquisition would provide us with a better relationship with Caesars Entertainment and would help PokerStars gain a license in Nevada.’
Based on the magazine, PokerStars was approached last thirty days by an unnamed executive representing Caesars Entertainment to discuss a preliminary deal for PokerStars to take the Rio All-Suite Hotel on and Casino, since well as the World number of Poker brand name.
However, Hollreiser explained that PokerStars chose to decline the offer because the firm had no intends to ‘acquire another casino in the near term’. Currently, the online video gaming operator is amidst the process of purchasing the Atlantic Club Casino and Hotel in Atlantic City which will allow it to submit application to the newest Jersey Casino Control Commission for the intrastate online poker license.
However, the plan to submit such an application has been somewhat tainted following a brief opposing pokerstars proposed purchase associated with the Atlantic Club Casino and Hotel by the United states Gaming Association (AGA).
The AGA submitted a 24-page ‘not-so-brief’ to this new Jersey Casino Control Commission and Division of Gaming Enforcement stating that the Rational Group US Holdings is a ‘business built on deceit, chicanery plus the systematic flouting of United States legislation’.
‘Any action permitting PokerStars to be licensed would send a message that is damaging the world of gaming and to the planet beyond gaming that businesses that engage in chronic lawbreaking are welcome in the licensed gaming business,’ stated the brief, as if wanting to avoid online gaming Armageddon.
If the AGA be successful in blocking PokerStars’ plans to get the venue for $50 million, a reported 2,400 jobs could possibly be in danger.
In response towards the schoolyard-type chants of the AGA, Eric Hollreiser called upon the nj-new Jersey Casino Control Commission and Division of Gaming Enforcement to come calmly to their own conclusion centered on ‘expert regulators’ and suggested that the AGA was simply ‘picking a public fight’ with the company. 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 such as the brand New Jersey regulators and other state that is interested to discuss our qualifications and permit them to comment on just what they find,’ stated Hollreiser.
‘PokerStars is amongst the largest & 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 indian dreaming slots free download Isle of Man.’
‘We are going to continue steadily to work definitely with regulators in nj-new jersey and somewhere else every time they review our qualifications,’ he completed.
Should Hollreiser’s good-light-shedding statements be believed, we have to concern the motive behind the AGA’s squabble-like claims. After all, then perhaps PokerStars deserves a little more consideration than the AGA is willing to give if the largest land-based gaming firm in the world sees fit to offer two of their most prized brands to the firm.