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 next week. It is all right component of the Control Board’s ongoing investigation into allegations that $40 million in payments had been made to Rodolfo Soriano, one of Universal’s casino project consultants within the Philippines. Possibly the insinuation is that Soriano received the money to grease some Filipino palms, but we might never imply such thing, of course.
We could only report that both the FBI and the Philippines’ equivalent, the National Bureau of Investigation, were looking into the matter to see if such a thing improprietous was done. Universal Entertainment has maintained that it acted lawfully in the Philippines; in the end, who does not give their professionals $40 million being a token of these esteem?
Meanwhile, no body’s commenting: not the Nevada Gaming Control Board and certainly no one from Universal Entertainment. Perhaps that’s why they call it money that is hush.
No Wrongdoing Alleged
This will be where we must make clear that nobody has actually or officially been accused of doing anything, particularly anything wrong. you can observe how it might 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, ( who has been persona non grata at Wynn for many years now), resigned, but the Board returned with a collective flip down by firing him anyway with about a 98% approval vote the very next time.
Okada vs. Wynn
The battle 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 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 anybody whose hands might be dirty, ya understand.
Needless to say, Okada has had some allegations of his own towards Wynn also, saying 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 allegations that are former such as for instance that Universal had misappropriated trade secrets, that were initially filed in case on Feb. 19, 2012; the retractions signaled a success of types to Universal. Wynn Resorts remains unmoved, however.
‘It only illustrates our desire to concentrate at this time upon the breaches of fiduciary responsibility owed to your company,’ Wynn Resorts responded within an statement that is official. ‘The claim for theft of our trade secrets and proprietary company information will be ripe if and when Okada puts them to use in his Phillipines casino, or elsewhere.’
Exactly What’s on the line
The Philippines’ government has put plenty 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 would be on a par to compete with Macau and Singapore, two of the very most lucrative gaming revenue producers on the planet. Along with three other gaming developments there, it will be understood as Pagcor Entertainment City.
No pressure whatsoever.
Chang Takes Down WPT Event for longer than a Million
It’s every poker player’s dream: to master a major tournament and collect 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 just 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 it can be got by you.
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, who ultimately took third for the $435, 610 payday. This has been a hell of a 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 place for $208, 910; and Joe Kuether in sixth for a $162, 240 reward.
Chang’s past victories of note incorporate a 2006 second-place finish in the $10,000 World Series of Poker (WSOP) Circuit event at Harrah’s Rincon, because 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 but some TV coverage from the jawhorse 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 grew to chip leader by the 42nd hand of the final table, and remained at or near to the front runner right up until his first place finish. A combination of all deep piles and a really solid band of players led to 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 only 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 Cash Out
Minted Poker is given up and embarrassed utilizing the network they currently call home, the Everleaf Gaming Network, and is telling their players to cash out all of their money immediately. This is due to what they call ’embarrassing’ cash away delays regarding the community, with most withdrawals using 6 months or maybe more to process, of this ones which are actually being prepared at all.
In addition to telling their players to cash out, they will have additionally advised players to take a few actions in an endeavor to force Everleaf into action. One is to register complaints with the Lotteries and Gaming Authority(LGA) of Malta, though the LGA has a sketchy history of dealing 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 who claimed the majority of their withdrawals nevertheless had not been processed significantly more than 9 months after the fact. The LGA included they would carry on to monitor Everleaf to ensure funds had been being properly paid out to the players on its network.
Minted had even taken the step that is drastic block all deposit choices for their site; this for https://real-money-casino.club/cleopatra/ the sake of their own players not to ever sink more money in to the community, along with to attempt to spur Everleaf into action. Nevertheless, Everleaf has remained unresponsive throughout the fiasco, which certainly brings their current credibility into question.
Minted Poker is in the process of going to a new network, and hopes their players’ money balances will be transferred once that move is completed. Utilizing the apparent state of disarray at Everleaf nevertheless, it is maybe not probable that may come to pass through simply speaking purchase.
Minted Poker is just certainly one of several ‘skins’ on the Everleaf Network. A few 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 month that is last Everleaf banning U.S players due to threatened legal action by the Department of Homeland Security. U.S players that has accounts have also been unable to withdraw their funds since the move.
PokerStars Battles It Out with the United States Gaming Association
A written report from Forbes magazine early in the day this week stated that Caesars Entertainment Corporation, the largest gaming that is land-based in the world, has recently attempted to offload two of its top and recognisable brands to on the web poker firm PokerStars.
‘Caesars Entertainment approached PokerStars and offered to sell us assets that are certain as the Rio Casino in vegas,’ stated head of business communications for PokerStars, Eric Hollreiser. ‘Caesars Entertainment recommended that this acquisition would give us a better relationship with Caesars Entertainment and would assist PokerStars gain a license in Nevada.’
According to the magazine, PokerStars was approached final 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, because well as the planet variety 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 purchasing the Atlantic Club Casino and Hotel in Atlantic City which will allow it to submit application to the New Jersey Casino Control Commission for the intrastate online poker license.
However, the program to submit such an application has been somewhat tainted following a brief opposing pokerstars proposed purchase regarding the Atlantic Club Casino and Hotel by the United states Gaming Association (AGA).
The AGA presented a 24-page ‘not-so-brief’ to the New Jersey Casino Control Commission and Division of Gaming Enforcement stating that the Rational Group US Holdings is a ‘business built on deceit, chicanery as well as the systematic flouting of United States law’.
‘Any action allowing PokerStars to be licensed would send a message that is damaging the world of video gaming and also to the planet beyond video gaming that companies that engage in chronic lawbreaking are welcome into the licensed gaming business,’ stated the brief, as if trying to prevent online gaming Armageddon.
Should the AGA be successful in blocking PokerStars’ plans to buy the venue for $50 million, a reported 2,400 jobs could be in jeopardy.
In response 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 predicated on ‘expert regulators’ and suggested that the AGA was simply ‘picking a fight that is public using the firm. He added that PokerStars was deemed suitable for application to a license in America by the U.S. Department of Justice.
‘We will work with authorities like the brand New Jersey regulators and other interested state regulators to talk about our qualifications and permit them to comment on exactly what they find,’ stated Hollreiser.
‘PokerStars is amongst the largest and most respected internet gaming organizations because we work closely with regulators and are in good standing with governments throughout the world keeping licenses in France, Germany, Italy, Spain, Denmark, Estonia, Belgium, Malta and the Isle of Man.’
‘we shall continue to work definitely with regulators in New Jersey and somewhere else each time they review our qualifications,’ he finished.
Should Hollreiser’s good-light-shedding statements be believed, we now have to question 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.