Okada to Meet with Gaming Control Board Over Foreign Payments
The Nevada Gaming Control Board has called in Japanese billionaire tycoon and previous Wynn director Kazuo Okada, along with three other directors of his Universal Entertainment Corp., for a closed-door hearing week that is next. It’s all part of the Control Board’s ongoing research into allegations that $40 million in payments had been designed to Rodolfo Soriano, one of Universal’s casino project consultants in the Philippines. Perhaps the insinuation is that Soriano received the money to grease some Filipino palms, but we’d never ever imply such thing, of course.
We can 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 ended up being done. Universal Entertainment has maintained that it acted lawfully in the Philippines; most likely, who doesn’t give their experts $40 million as a token of their esteem?
Meanwhile, nobody’s commenting: not the Nevada Gaming Control Board and certainly no one from Universal Entertainment. Maybe that’s why they call it money that is hush.
No Wrongdoing Alleged
This will be where we must make clear that no one has really or officially been accused of accomplishing such a thing, particularly anything wrong. 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 had been about to be deposed, Okada, ( that has been persona non grata at Wynn for quite a few years now), resigned, but the Board came back with a collective flip off by firing him anyway with about a 98% approval vote the extremely day that is next.
Okada vs. Wynn
The fight with Wynn has been going on for years now, and, stop the presses, stems from issues Wynn has had with Okada over allegations of some monetary improprieties (that sounds so much classier than ‘bribes,’ does it not?) to Filipino heavyweights for his casino projects there. No body in the casino company likes to be associated with anyone whose hands may be dirty, ya know.
Needless to say, Okada has had some allegations of his very own towards Wynn as well, 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 month, Wynn Resorts retracted some former allegations, such as that Universal had misappropriated trade secrets, that were originally filed in a lawsuit on Feb. 19, 2012; the retractions signaled a victory of types to Universal. Wynn Resorts remains unmoved, however.
‘It only illustrates our desire to focus at this time upon the breaches of fiduciary duty owed to your company,’ Wynn Resorts responded in a statement that is official. ‘The claim for theft of our trade secrets and business that is proprietary will be ripe if and when Okada sets them to use in their Phillipines casino, or elsewhere.’
Just What’s at Stake
The Philippines’ government has placed lots of eggs in Okada’s container: they granted him four casino licenses to build and operate a multibillion dollar manila gambling and entertainment complex that will be on a par to compete with Macau and Singapore, two of the most lucrative gaming income producers on the planet. Along with three other video gaming developments there, it will 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 get hold of a seven-figure score. That dream came true for relatively unknown professional Kai Chang this week at World Poker Tour (WPT) Bay 101 Shooting Star’s 2013 event.
Not only 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 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 a $435, 610 payday. This has been a hell of the for Volpe already, having taken home over $600,000 for second in the WPT L.A. Poker Classic only a little more than a week before, and finishing in the money in January’s PokerStars Caribbean Adventure 2013 as well year. Joe Nguyen took home second for $666, 740; he finished 29th in this event that is same 12 months for a $19,200 finish, so must were quite pleased with that much better performance. Other finishes that are top renowned poker pro Eric Seidel for $295, 590 in fourth; Chris Johnson in 5th spot for $208, 910; and Joe Kuether in sixth for a $162, 240 reward.
Chang’s previous victories of note incorporate a 2006 second-place finish in the $10,000 World Series of Poker (WSOP) Circuit occasion at Harrah’s Rincon, because well as a 40th place finish that same year in the WSOP Main Event. He bubbled the 2008 table that is final the L.A. Poker Classic in 2008, getting absolutely nothing but some TV coverage from the jawhorse all.
The Action Builds
Chang joined the last table as fifth of sixth in potato chips on a table that is universally deep-stacked. Starting out with a healthy 83 big blinds, he expanded to chip leader by the 42nd hand of this 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 stacks and a very solid band of players generated no one even being eliminated until the 79th hand.
Things moved a bit faster once action got down seriously to the heads-up match between Chang and Nguyen. It just took six hands for Chang to knock Nguyen out having 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 Money Out
Minted Poker is fed up and embarrassed using the community they currently call home, the Everleaf Gaming Network, and is telling their players to cash out their money immediately. This is due to what they call ‘embarrassing’ money down delays regarding the system, with most withdrawals taking 6 months or maybe more to process, associated with the ones which can be actually being processed at all.
In addition to telling their players to cash out, they will have additionally advised players to take several actions in an endeavor to force Everleaf into action. One is to file complaints with the Lotteries and Gaming Authority(LGA) of Malta, though the LGA has a history that is sketchy of with issues in their jurisdiction and enforcing their rules.
To that end, the LGA recently released a statement saying they had looked into the problem of withdrawals at Everleaf and found that a majority of players have been compensated. That declaration was quickly refuted by a combined group of several players whom reported the majority of their withdrawals still had not been processed more than 9 months after the fact. The LGA added which they would carry on to monitor Everleaf to make sure funds were being properly paid out to the players on its network.
Minted had even taken the extreme step to block all deposit options with their site; this for the sake of unique players not to ever sink more money into the system, along with to try and spur Everleaf into action. However, 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 brand new network, and hopes their players’ cash balances will be transferred once that move is completed. Aided by the apparent state of disarray at Everleaf nevertheless, it’s maybe not probable that may come to pass simply speaking order.
Minted Poker is just one of several ‘skins’ on the Everleaf system. Some of the dozens of other sites on the community include bluffbet.com, palmbet.com, pokerutd.com, and valhallapoker.com. Traffic on the network has drastically decreased within the month that is last Everleaf banning U.S players due to threatened appropriate action by the Department of Homeland Security. U.S players who’d accounts also have been unable to withdraw their funds since the move.
PokerStars Battles It Out with the American Gaming Association
A study from Forbes magazine earlier in the day this week stated that Caesars Entertainment Corporation, the biggest gaming that is land-based in the planet, has attempted to offload two of its most widely used and recognisable brands to on the web poker firm PokerStars.
‘Caesars Entertainment approached PokerStars and offered to sell us certain assets such as the Rio Casino in Las vegas, nevada,’ stated head of corporate communications for PokerStars, Eric Hollreiser. ‘Caesars Entertainment suggested that this acquisition would provide us with a better relationship with Caesars Entertainment and would assist PokerStars gain a license in Nevada.’
In line with the mag, PokerStars was approached last month by an unnamed executive representing Caesars Entertainment to discuss a preliminary deal for PokerStars to take the Rio All-Suite Hotel on and Casino, as well as the World group of Poker brand.
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 entire process of buying the Atlantic Club Casino and Hotel in Atlantic City which will allow it to submit application to the New Jersey Casino Control Commission for an intrastate online poker license.
However, the plan to submit such an application has been somewhat tainted https://real-money-casino.club/real-money-casino-app/ following a brief opposing pokerstars proposed purchase of this Atlantic Club Casino and Hotel by the American Gaming Association (AGA).
The AGA submitted a 24-page ‘not-so-brief’ to the newest 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 enabling PokerStars to be licensed would send a damaging message to the world of video gaming also to the planet beyond video gaming that organizations that engage in chronic lawbreaking are welcome in the licensed gaming business,’ stated the brief, as if wanting to prevent online gaming Armageddon.
Should the AGA be successful in blocking PokerStars’ plans to acquire the venue for $50 million, a reported 2,400 jobs might be at risk.
In reaction to 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 considering ‘expert regulators’ and suggested that the AGA was simply ‘picking a public fight’ with the company. He added 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 New Jersey regulators and other state that is interested to talk about our qualifications and invite them to comment on just what they find,’ stated Hollreiser.
‘PokerStars is one of the largest & most respected internet gaming organizations because we work closely with regulators and are in good standing with governments across the world licenses that are holding France, Germany, Italy, Spain, Denmark, Estonia, Belgium, Malta and the Isle of Man.’
‘we shall continue steadily to work positively with regulators in nj-new jersey and somewhere else whenever they review our qualifications,’ he completed.
Should Hollreiser’s good-light-shedding statements be believed, we’ve to question the motive behind the AGA’s squabble-like claims. After all, in the event that largest land-based gaming firm in the world sees fit to offer two of these most prized brands to the firm, then perhaps PokerStars deserves a little more consideration than the AGA is willing to provide.