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Nevada Gaming Control Board Ponders Wagering Accounts

Nevada <span id="more-7759"></span>Gaming Control Board Ponders Wagering Accounts

Nevada Gaming Control myfreepokies.com Board Chairman AG Burnett is considering amendments to your board’s laws that will authorize prepaid wagering accounts at Nevada casinos.

The Nevada Gaming Control Board (GCB) is calling in the state’s land-based gambling enterprises to adapt e-commerce measures to make gaming more user-friendly.

On August 11, the GCB held a workshop that is public Carson City to receive input on possibly changing exactly how slots and table games accept bets in the united kingdom’s gambling capital.

At issue is the GCB’s very own regulations and whether amendments should be implemented to enable casino clients to gamble making use of prepaid accounts.

The board is considering allowing casinos to implement systems at their tables and machines that provide customers with the option to gamble with funds linked to loyalty cards in accordance with Nevada Senate Bill 9 passed in 2015 that pressured the GCB to adapt such regulations.

Regulation 5 and Regulation 5A are the two guidelines in question. The former previously barred players from gambling on prepaid accounts, while the later authorized credited accounts for the state’s interactive gaming companies.

The proposed Regulation 5 includes ‘wagering account’ information and regulatory axioms overseeing how the cards would operate. The GCB dictates that the customer wanting to fund a commitment card account would need to first personally register in the casino with photo recognition.

‘It would offer patrons what they expect having the ability to fund gaming from sources they have been increasingly convenient with,’ GCB Chairman AG Burnett told the Las Vegas Review-Journal.

Practice Made Perfect

Opponents to electronically linked gambling reports believe the practice shall result in higher incidences of problem gambling. But the wagering system being considered is far different from simply permitting players to gamble making use of their debit and credit cards.

In fact, account wagering is already being practiced in Nevada.

Along with interactive online and gaming that is mobile, Nevada sportsbooks presently allow bettors to create prepaid gambling cards.

The state legislature believes the amendments will appeal to the technological millennial demographic and bring the Silver State’s casinos into modern times.

‘ The continued growth and success of the gaming industry in the State of Nevada varies according to the fostering of a business and regulatory environment that promotes continued advances in the usage of technology in gaming, which improves the entertainment experience, encourages innovation and supports expansion associated with domestic technology sector,’ Senate Bill 9 states.

Though it seems likely the GCB will soon adapt the prepaid gambling amendments, Burnett said additional time is required before formally executing the modification.

Vital Endorsement

The Nevada Council on Problem Gambling lent its help of prepaid video gaming accounts, though with a few conditions.

Executive Director Carol O’Hare said signage that is appropriate the hazards of issue video gaming should be prominently displayed in areas where gamblers would refund their electronic accounts. Casinos have long been forced to do just that near cages and ATMs, but O’Hare wishes the GCB to take measures that are additional.

‘It would seem that in 2016 as you adopt regulations, procedures and rules for wagering accounts . . . some reasonable effort can be produced to align the newest responsible gaming options to be consistent with the existing stands.’

O’Hare said she looks forward to working utilizing the GCB on the updated laws and language that is drafting mandate such problem gambling stipulations.

Six-Year Prison Sentence for Ex-CEO Kennon Whaley in Alabama, Gambled Away $100K in Insurance Funds

Former Alabama steel magnate Kennon Whaley is headed to jail. This the Auburn resident was sentenced to 72 months in federal prison, after he was convicted in May for using an insurance payment to pay down over $100,000 in gambling debts week.

Former Alabama metal business CEO Kennon Whaley will now see a great deal of steel of a different kind, after being sentenced to six years behind bars for insurance coverage fraud. Whaley used bankruptcy settlements to pay straight down gambling debts. (Image: insurancequotesfast.com)

Whaley was as soon as the CEO of Southeastern Stud & Components, A montgomery-based manufacturer of light measure steel framing products. Founded in 1999, the company generated $34 million in revenues in 2005 and employed 125 full-time workers.

But after the collapse that is economic 2007, Whaley filed for Chapter 11 bankruptcy security in 2009. He received $260,000 in insurance claims, but instead of using it to help in their business’ transition, Whaley proceeded a gambling binge.

The now 51-year-old visited the Wynn casino in Las Vegas, where he racked up a debt of $100,000. After using the insurance coverage cash to settle Wynn, Whaley returned to Vegas again, where he incurred another $20,000 loss.

Chapter 11 provides companies protection from creditors, but the business that is bankrupt disclose all financial transactions. And in addition, Whaley failed to follow that condition.

‘ At that time, Southeastern Stud had been still in bankruptcy and approximately 70 percent of its employees had lost their jobs,’ the United States Attorney’s workplace for the Middle District of Alabama said in a launch.

Paper Trail Proves Guilt

Whaley’s attorney said during his test which he was an ‘absentee owner’ that was not aware of this company’s downturn. But whenever going got tough, Whaley got using risky maneuvers.

According to court records, Whaley instructed a worker to falsify papers in a make an effort to conceal where in actuality the insurance payments disappeared to.

‘That’s the textbook concept of bankruptcy fraud,’ Assistant US Attorney Brandon Essig stated.

While the Wynn likely wined and dined Whaley on his two high-roller visits, the Strip resort cooperated with authorities to detail Whaley’s criminal activity. Documents from the casino presented his jaunt that is four-day to City and show a man living the VIP lifestyle while his company was riddled with debt.

The US Great Recession that lasted from 2007 through 2009 presented an economy that is difficult businesses across the country. The odds were stacked against many small and medium-sized organizations, but Whaley went to Vegas and found also worse odds for their money.

Ironically, Whaley writes on his LinkedIn profile summary, ‘HARD WORK VICTORIES.

In Good Bad Company

Whaley isn’t the person that is first strike the casino flooring with illicit funds of late, of course.

A ago, former Oklahoma State Senator Rick Brinkley (R-District 34) was convicted of swindling $1.8 million from the Eastern Oklahoma Better Business Bureau to support his gambling habit year.

And just last month, monetary scam musician Andrew Caspersen pled guilty to utilizing a Ponzi scheme to swindle $38 million from investors to fund his gambling addiction.

Atlantic City Casino Revenue Soars in Borgata Enjoys Record Month july

Atlantic City casino revenue jumped 6.9 percent in July compared to the same month in 2015. The town’s eight casinos still in operation taken in $275.2 million, $17.7 million more than a earlier year.

Atlantic City casino revenues were up at most properties during but Carl Icahn’s Trump Taj Mahal was an exception july. The long-troubled casino will turn off permanently in less than per month after having a long battle with unions. (Image: Heidi Gutman/Getty Images)

The headliner regarding the revenue report is the Borgata Hotel Casino, which recently became wholly owned by MGM Resorts.

Atlantic City’s most profitable resort had its best month in its 13-year history. With gross profits totaling $84.8 million in July, Borgata eclipsed its previous record that is monthly took full benefit of the a supplementary week-end and Independence Day holiday.

‘While we expected an excellent month with five full weekends, we are very pleased about a record-breaking month,’ Borgata Senior Vice President Joe Lupo told the Associated Press.

Taj Mahal Trumped

Along with Borgata, four for the other seven casinos that are land-based percentage gains in July. The one that don’t wasn’t surprisingly the Trump Taj Mahal.

The Unite-HERE Local 54 union attack commenced on July 1 over medical insurance and pension benefits at the formerly property that is trump-owned. More recently bought by the GOP candidate’s billionaire buddy Carl Icahn, the casino tallied incomes of just $17.5 million, eight per cent lower than in 2015.

Icahn says he’ll end the casino’s 26-year run after the Labor Day week-end. Video Gaming officials state the thirty days had been positive, regardless associated with the statement that yet another Atlantic City casino is closing.

‘July was a solid month, even though several properties faced challenges including a strike by union employees,’ New Jersey Casino Control Commission Chairman Matt Levinson said.

Bally’s (4.8 percent) and Harrah’s (5.2 %) were the other two casino properties that posted losses in July.

Table games were the best performers percentage-wise, with an almost $7.5 million relative boost to $75.7 million. Slots still pulled in the vast majority of casino income per se, nonetheless, with a $182.2 million win.

Year-to-date, Atlantic City casino revenue is up 1.5 percent, and a complete of 3.2 percent when the state’s Internet gaming is factored in.

Online Gambling Strong

The summer that is long of July brought tourists and money to Atlantic City, but on line, the economy was also sunny.

Internet gaming totaled $17,368,984 during July. That’s a 38.6 per cent increase from 2015 and a brand new monthly high for that segment.

Borgata maintained its lead on the five casino operators involved with iGaming, but the gap is closing. Borgata’s online platforms grossed $3,971,138. The Golden Nugget, up 36 percent in .

The net gaming market in brand New Jersey seems to be moving towards equal disbursement. Once dominated by Borgata, last month the stakeholder that is smallest was Resorts with $3,052,298, a significant difference of less than $1 million. The Tropicana generated $3.24 million, while Caesars built-up $3.39 million.

Resorts has quickly become a player that is major New Jersey’s on line gaming sector. Thanks to your arrival of its poker network PokerStars, the casino climbed from $558,000 in revenue in July 2015 to $3 million last thirty days.

The world’s largest Internet poker operator hit the Garden State last March after having a long vetting process by this new Jersey Department of Gaming Enforcement (DGE). It’s currently neck-and-neck that is battling WSOP/888 for the name of New Jersey’s online poker market leader.

Michael Phelps Finishes Olympic Career With 23rd Gold Medal

The great one is finished. After 23 gold medals, United states swimmer Michael Phelps states his racing career is over. (Image: Clive Rose/Getty Images)

Michael Phelps has swum his last Olympic race. That is if you believe the athlete that is legendary.

Sixteen years since their first Olympiad and 28 medals later, Phelps says the 4x100m medley relay had been the final leg in his storied career.

Probably the most decorated Olympian ever, Phelps was adamant in post-race interviews that he’s completed. He said the thing that is same the 2012 London Olympics, but the 31-year-old says this time is different.

‘Done, done, done, and this right time i suggest it,’ Phelps told Matt Lauer. ‘I wished to keep coming back and finish my career the way I wanted and also this was the cherry on the top of this dessert.’

With 23 gold medals, Phelps has 14 a lot more than any other Olympian. Their 28 total medals are 10 more than Larisa Latynina’s 18, the second most Olympic that is ornamented athlete.

History into the Books

Nevada and Las Vegas got in on the game for the Olympics in 2016. For the time that is first 2000, sportsbooks offered lines on many different Olympic disciplines as a result of the Nevada Gaming Control Board amending regulations in 2015.

For the oddsmakers, that meant learning a number of unknown sports. But when it arrived to Phelps and the pool, the decisions were pretty straightforward.

If you wished to win any substantial money without placing a substantial bet, you would require to go against Phelps.

Phelps won five of the six events he entered. He placed first in the 200m butterfly, 200m medley, 4x100m freestyle, 4x200m freestyle, and medley that is 4x100m.

He was understandably a favorite that is heavy the publications in the Silver State. As an example, the 4×200 freestyle team event had been requiring bettors to wager the maximum amount of as $700 on the US for a return of just $100.

The lone event he did not win, the 100m individual butterfly, had Phelps listed at -140 before the sprint.

Those who bet on Singapore’s Joseph Schooling to handsomely win gold were rewarded. A $100 bet for a Schooling upset of Phelps came back about $1,000 at most Nevada sportsbooks.

Lochte Robbed

Another American swimmer didn’t have quite the same success in Brazil as Phelps. Ryan Lochte, A olympic that is 12-time medalist their own right, had a somewhat disappointing 2016 Summer Games.

He took part in only two events, and while he was section of Phelps’ 4x200m freestyle silver relay group, he failed to medal in the individual 200m medley.

Things just got worse following the summary of this swimming competition. Over the weekend, Lochte and several teammates were robbed at gunpoint by thugs in Rio de Janeiro.

‘We got pulled over inside our taxi and these guys came out with a badge, a police badge. No lights, no nothing, just a police badge. They pulled us over, they pulled out their firearms,’ Lochte told NBC.

‘And then the guy pulled out his gun, he cocked it, put it to my forehead in which he stated, ‘Get down,’ and I place my hands up . . . He took our money, he took my wallet.’

Rio has been riddled with debate in its preparation and hosting of the 2016 Olympics. With six days to go until shutting ceremonies, Lochte’s run-in with street criminals will have everyone for an also higher alert.