The management of Trump Taj Mahal sought approval to end payments to the casino union pension fund.

US Bankruptcy Judge Kevin Gross in Wilmington, Delaware, said he didn’t have the authority to allow the gambling company to reject part of its collective bargain agreement, but added that he would consider a request to reject the agreement as a whole. The judge is expected to make a decision on a hearing scheduled for October 14.

Obtaining approval to end pension payments was a key requirement of businessman Carl Icahn, offered to spend $100 million to rescue the now-bankrupt casino. However, the deal comes with considerable strings attached, as the businessman expects tax breaks, $25 million in funds from a state agency, as well as givebacks from the workers’ union. Experts believe it is unlikely that his proposal will be accepted, considering New Jersey’s current taxation policy and gambling laws.

Unless a buyer is found, the Trump Taj Mahal Casino and Resort will become the fifth casino to close this year in Atlantic City. Trump Entertainment has threatened to shut it down at the middle of November.

Bloomberg: Trump Casinos Loss on Pension Threatens Bankruptcy Plan

According to the latest gambling news, the owner of Atlantic City’s Taj Mahal Casino was denied court approval to stop contributing to the union pension plan. The request was a key point in the company’s restructuring strategy, as Trump Entertainment is struggling to recover from bankruptcy.

Judge Kevin Gross ruled that eliminating just the pension from the collective-bargaining agreement is not an option. The measure would violate bankruptcy code, which states that a contract has to be considered as a whole.

“The court does not have authority to reject a portion of a CBA,” Gross ruled. However, Trump Entertainment’s efforts to scrap the entire union deal – which includes pensions, too – will be reconsidered at another hearing, on October 14.

The company is trying to figure out how to solve its financial difficulties and save the Taj Mahal. Court filings have revealed that the union contract costs about $15 million a year in health, welfare and other benefits, and an additional $5 million in pension payments. But if the casino doesn’t find a buyer or a way to cut costs, closing will be inevitable.

Trump Entertainment claims obtaining concessions from the union is “absolutely critical” in the restructuring process.

NY Post: Carl Icahn might save Trump Taj Mahal under right conditions

Businessman Carl Icahn is ready to save the Trump Taj Mahal from bankruptcy, but only under certain circumstances. The investor said he was willing to invest $100 million in the Atlantic City casino, provided the unions and local authorities are prepared to make some big concessions.

Trump Entertainment Resorts, the owner of the ailing casino, was forced to file for bankruptcy on September 9, but has come up with a restructuring plan that needs Icahn’s money, the union’s cooperation and the collaboration of Atlantic City authorities to succeed. If all plans fail, the closure of the casino will result in the loss of more than 4,000 jobs.

Trump Entertainment Resorts owns two casinos in the gambling Mecca, and both of them have failed. The Trump Plaza was closed recently, and the situation of the Taj Mahal is not too optimistic either. The business is projected to lose $7 million every month, even with just one casino in operation, and that figure doesn’t include debt payments to Icahn or property taxes.

In order to get out of the financial mess, the company wants to stop paying roughly $10,000 a year for each union employee, and to stop pension contributions.

GamingZion: Brookfield is Topping Bidders for the Revel in Atlantic City

It seems like Atlantic City financial problems are the highlight of American news, as casinos shut down one after the other in the former gambling kingdom. The Showboat closed at the beginning of September and the Revel is still hoping to find a way out of the mess it got itself into.

The casino opened its doors to customers just two years ago, and it has already filed for bankruptcy twice. An expensive investment that cost $2.4 billion to build, the venue has never succeeded in becoming a profitable business.

While the gambling business has failed, there might still be hope for the building that housed all those gaming tables and poker rooms. The casino’s owners said they intended to sell it to a customer who would be able to keep the building in use.

An auction held last Wednesday awarded the property to Brookfield Asset Management, after the company trumped Florida real estate developer Glenn Straub’s $90 million bid. The businessman threatened to challenge the outcome of the auction in court.

The management of Trump Taj Mahal sought approval to end payments to the casino union pension fund.

US Bankruptcy Judge Kevin Gross in Wilmington, Delaware, said he didn’t have the authority to allow the gambling company to reject part of its collective bargain agreement, but added that he would consider a request to reject the agreement as a whole. The judge is expected to make a decision on a hearing scheduled for October 14.

Obtaining approval to end pension payments was a key requirement of businessman Carl Icahn, offered to spend $100 million to rescue the now-bankrupt casino. However, the deal comes with considerable strings attached, as the businessman expects tax breaks, $25 million in funds from a state agency, as well as givebacks from the workers’ union. Experts believe it is unlikely that his proposal will be accepted, considering New Jersey’s current taxation policy and gambling laws.

Unless a buyer is found, the Trump Taj Mahal Casino and Resort will become the fifth casino to close this year in Atlantic City. Trump Entertainment has threatened to shut it down at the middle of November.

Bloomberg: Trump Casinos Loss on Pension Threatens Bankruptcy Plan

According to the latest gambling news, the owner of Atlantic City’s Taj Mahal Casino was denied court approval to stop contributing to the union pension plan. The request was a key point in the company’s restructuring strategy, as Trump Entertainment is struggling to recover from bankruptcy.

Judge Kevin Gross ruled that eliminating just the pension from the collective-bargaining agreement is not an option. The measure would violate bankruptcy code, which states that a contract has to be considered as a whole.

“The court does not have authority to reject a portion of a CBA,” Gross ruled. However, Trump Entertainment’s efforts to scrap the entire union deal – which includes pensions, too – will be reconsidered at another hearing, on October 14.

The company is trying to figure out how to solve its financial difficulties and save the Taj Mahal. Court filings have revealed that the union contract costs about $15 million a year in health, welfare and other benefits, and an additional $5 million in pension payments. But if the casino doesn’t find a buyer or a way to cut costs, closing will be inevitable.

Trump Entertainment claims obtaining concessions from the union is “absolutely critical” in the restructuring process.

NY Post: Carl Icahn might save Trump Taj Mahal under right conditions

Businessman Carl Icahn is ready to save the Trump Taj Mahal from bankruptcy, but only under certain circumstances. The investor said he was willing to invest $100 million in the Atlantic City casino, provided the unions and local authorities are prepared to make some big concessions.

Trump Entertainment Resorts, the owner of the ailing casino, was forced to file for bankruptcy on September 9, but has come up with a restructuring plan that needs Icahn’s money, the union’s cooperation and the collaboration of Atlantic City authorities to succeed. If all plans fail, the closure of the casino will result in the loss of more than 4,000 jobs.

Trump Entertainment Resorts owns two casinos in the gambling Mecca, and both of them have failed. The Trump Plaza was closed recently, and the situation of the Taj Mahal is not too optimistic either. The business is projected to lose $7 million every month, even with just one casino in operation, and that figure doesn’t include debt payments to Icahn or property taxes.

In order to get out of the financial mess, the company wants to stop paying roughly $10,000 a year for each union employee, and to stop pension contributions.

GamingZion: Brookfield is Topping Bidders for the Revel in Atlantic City

It seems like Atlantic City financial problems are the highlight of American news, as casinos shut down one after the other in the former gambling kingdom. The Showboat closed at the beginning of September and the Revel is still hoping to find a way out of the mess it got itself into.

The casino opened its doors to customers just two years ago, and it has already filed for bankruptcy twice. An expensive investment that cost $2.4 billion to build, the venue has never succeeded in becoming a profitable business.

While the gambling business has failed, there might still be hope for the building that housed all those gaming tables and poker rooms. The casino’s owners said they intended to sell it to a customer who would be able to keep the building in use.

An auction held last Wednesday awarded the property to Brookfield Asset Management, after the company trumped Florida real estate developer Glenn Straub’s $90 million bid. The businessman threatened to challenge the outcome of the auction in court.

A British gambling venue is refusing to pay poker player Phil Ivey his GBP7.7 million in winnings, claiming that he won by cheating.

Although a talented poker player, American gambler Phillip Ivey doesn’t shy away from other casino games either. Like high-stake baccarat, for example. The game brought him almost GBP8 million in winnings in August 2012, when he risked as much as GBP1 million of his own money at a casino in London.

The Crockfords club – the venue where Ivey won the money over his two-day visit – has refused to pay out claiming that the poker player had cheated and duped the croupier, with the help of his companion Cheung Yin Sun.

The American gambler responded by slapping the casino with a lawsuit. While admitting that he had used a technique known as edge sorting, which allows players to predict the order of the cards, Ivey and his lawyers firmly believe that this is nothing but a legitimate strategy that casinos can guard against.

Mirror Online: Casino won’t pay out £7.7MILLION winnings to ‘cheating’ poker star Phillip Ivey

Richard Spearman, who represents the professional poker player, said Ivey should not be held responsible for the casino’s “mistake”.

“The technique of edge sorting involves nothing more than using information that is available to any player by viewing the backs of the cards… and making requests of the casino, which it is open to the casino to accept or refuse, as to the manner in which play is conducted.”

Spearman claims that it was the gambling venue’s mistake that this turned into an advantage for Ivey, while Christopher Pymont, who represents the casino, continued to say the scheme was quite possibly “criminal”.

According to the latest gambling news, the barrister accused the poker player of using his companion to cheat. Cheung Yin Sun allegedly spoke to the dealer in Cantonese to help keep the scheme “covert” from the rest of the staff, who spoke English.

The casino staff examined the CCTV footage, interrogated the staff, and then decided not to send Ivey the money.

Belfast Telegraph: Champion poker player Phil Ivey ‘stitched up’ London casino in £7.7m winning streak, court hears

One of the best poker players in the world, Phil Ivey, was accused of having “stitched up” a reputable London casino by taking advantage of a flaw in playing cards. The poker pro sued the gambling venue, which refused to pay him the GBP7.7 million he had won in two days.

Ivey allegedly created an “air of superstition”. He insisted on wearing a lucky hat, picked a lucky Asian card dealer, and a special pack of cards. While the game of baccarat requires little skill, all this helped him tip the odds in his favor, said the casino management.

Ivey admitted that he turned a minor flaw in the cards to his advantage, but says the casino did not take the proper security measures and went along with all his requests without questioning them. This is why he exploited the casino’s failures.

“Putting it bluntly, he played, he won and they ought to pay up,” said Richard Spearman, his counsel.

Casino staff picked up on Ivey’s unusual behavior after he asked the dealer to turn around some of the cards, “like that made any difference”. But employees figured it was nothing but a superstition. “It did make a difference. They just didn’t realize,” Spearman explained.

The counsel added that Ivey’s winning streak could have been stopped at any moment simply by changing the cards, or increasing the security on the dealer, but the casino failed to take these precautions. The customer “regards this as entirely fair play,” Spearman said, adding: “If a casino fouls up from start to finish that’s the gamblers good fortune.”

On the other hand, Christopher Pymont, counsel for the casino, considers the gambler’s actions to be “highly immoral and dishonest”. “The whole point is to stitch up the casino, to fix it, when you know it’s in ignorance of what you’re doing,” he argued.

The case is expected to last a week.

Daily Mail: Nine-time world poker champion Phil Ivey accused of cheating Atlantic City casino out of $9.6MILLION ‘using defective card trick’

This is not the first time Phil Ivey has taken advantage of defective cards to turn the odds in his favor, at the same table game. A casino in Atlantic City has sued the professional poker player after he won $9.6 million, claiming that he got the money by cheating.

Ivey and an associate allegedly exploited a defect in cards to win the money, on four occasions between April and October 2012. The cards were manufactured by Gemaco Inc., a company from Kansas City, and were defective because they didn’t have a uniform pattern on the back.

According to the lawyers who represent the gambling venue, the technique of edge sorting is forbidden under New Jersey gambling laws. Ivey and his companion allegedly instructed a dealer to flip cards in particular ways, so they could tell whether it was a desirable card or not.

A British gambling venue is refusing to pay poker player Phil Ivey his GBP7.7 million in winnings, claiming that he won by cheating.

Although a talented poker player, American gambler Phillip Ivey doesn’t shy away from other casino games either. Like high-stake baccarat, for example. The game brought him almost GBP8 million in winnings in August 2012, when he risked as much as GBP1 million of his own money at a casino in London.

The Crockfords club – the venue where Ivey won the money over his two-day visit – has refused to pay out claiming that the poker player had cheated and duped the croupier, with the help of his companion Cheung Yin Sun.

The American gambler responded by slapping the casino with a lawsuit. While admitting that he had used a technique known as edge sorting, which allows players to predict the order of the cards, Ivey and his lawyers firmly believe that this is nothing but a legitimate strategy that casinos can guard against.

Mirror Online: Casino won’t pay out £7.7MILLION winnings to ‘cheating’ poker star Phillip Ivey

Richard Spearman, who represents the professional poker player, said Ivey should not be held responsible for the casino’s “mistake”.

“The technique of edge sorting involves nothing more than using information that is available to any player by viewing the backs of the cards… and making requests of the casino, which it is open to the casino to accept or refuse, as to the manner in which play is conducted.”

Spearman claims that it was the gambling venue’s mistake that this turned into an advantage for Ivey, while Christopher Pymont, who represents the casino, continued to say the scheme was quite possibly “criminal”.

According to the latest gambling news, the barrister accused the poker player of using his companion to cheat. Cheung Yin Sun allegedly spoke to the dealer in Cantonese to help keep the scheme “covert” from the rest of the staff, who spoke English.

The casino staff examined the CCTV footage, interrogated the staff, and then decided not to send Ivey the money.

Belfast Telegraph: Champion poker player Phil Ivey ‘stitched up’ London casino in £7.7m winning streak, court hears

One of the best poker players in the world, Phil Ivey, was accused of having “stitched up” a reputable London casino by taking advantage of a flaw in playing cards. The poker pro sued the gambling venue, which refused to pay him the GBP7.7 million he had won in two days.

Ivey allegedly created an “air of superstition”. He insisted on wearing a lucky hat, picked a lucky Asian card dealer, and a special pack of cards. While the game of baccarat requires little skill, all this helped him tip the odds in his favor, said the casino management.

Ivey admitted that he turned a minor flaw in the cards to his advantage, but says the casino did not take the proper security measures and went along with all his requests without questioning them. This is why he exploited the casino’s failures.

“Putting it bluntly, he played, he won and they ought to pay up,” said Richard Spearman, his counsel.

Casino staff picked up on Ivey’s unusual behavior after he asked the dealer to turn around some of the cards, “like that made any difference”. But employees figured it was nothing but a superstition. “It did make a difference. They just didn’t realize,” Spearman explained.

The counsel added that Ivey’s winning streak could have been stopped at any moment simply by changing the cards, or increasing the security on the dealer, but the casino failed to take these precautions. The customer “regards this as entirely fair play,” Spearman said, adding: “If a casino fouls up from start to finish that’s the gamblers good fortune.”

On the other hand, Christopher Pymont, counsel for the casino, considers the gambler’s actions to be “highly immoral and dishonest”. “The whole point is to stitch up the casino, to fix it, when you know it’s in ignorance of what you’re doing,” he argued.

The case is expected to last a week.

Daily Mail: Nine-time world poker champion Phil Ivey accused of cheating Atlantic City casino out of $9.6MILLION ‘using defective card trick’

This is not the first time Phil Ivey has taken advantage of defective cards to turn the odds in his favor, at the same table game. A casino in Atlantic City has sued the professional poker player after he won $9.6 million, claiming that he got the money by cheating.

Ivey and an associate allegedly exploited a defect in cards to win the money, on four occasions between April and October 2012. The cards were manufactured by Gemaco Inc., a company from Kansas City, and were defective because they didn’t have a uniform pattern on the back.

According to the lawyers who represent the gambling venue, the technique of edge sorting is forbidden under New Jersey gambling laws. Ivey and his companion allegedly instructed a dealer to flip cards in particular ways, so they could tell whether it was a desirable card or not.

Achilleas Kallakis will serve an additional seven years in jail unless he returns GBP3 million within six months.

After fooling bankers into loaning him money which he then used to buy property and build a super-yacht, 46-year-old Achilleas Kallakis was sentenced to jail at the beginning of 2013, along with his partner Alexander Williams, who helped him forge financial guarantees.

Now the judge ordered Kallakis to pay back GBP3 million within the next six months. If he fails to do so, he’ll be facing another seven years in prison. His partner in crime Alexander Williams also has three months to return GBP477,000, or else he will be forced to serve a three-year sentence.

Both of them were originally sentenced to jail in January 2013, after the court found them guilty of conspiring to defraud banks through deception and forgery. The biggest victim was AIB.

DailyMail: Poker player who stole £750 million in property fraud to fund millionaire lifestyle of private jets, yachts and luxury villas is ordered to pay back just £3million

A high-rolling poker player who committed a GBP750 million bank fraud so he could fund a luxurious lifestyle for himself has been ordered to pay back just GBP3 million of that money. Achilleas Kallakis, 46, conned two banks into advancing huge loans so he could purchase 16 landmark properties in the UK.

The buildings bought by Kallakis, the nephew of a Greek shipping magnate, included the GBP225 million London headquarters of the Daily Telegraph, as well as a GBP100 million Home Office building located in Croydon.

Known for his impressive poker results after winning $1 million in one game, Kallakis teamed up with “prolific forger” Alexander Williams, also 46, in his scheme to defraud two major banks: the Allied Irish Bank (AIB) and the Bank of Scotland.

The pair operated out of an office in Mayfair, calling themselves the Pacific Group of Companies. Lenders were tricked into advancing loans totaling GBP766 million, all backed by forged or false documents.

Using the money he got conning banks, The Don then spent millions of pounds on an extravagant lifestyle. The man claimed to be a San Marino ambassador and called himself “his Excellency”. He spent GBP27 million on a private jet, bought a helicopter worth GBP5.2 million, owned a yacht moored in Monaco, a fleet of chauffeur-driven Bentleys, as well as a villa in Mykonos.

Last year, the man was finally convicted of two counts of conspiracy to defraud banks and sent to prison to serve a seven-year sentence, but now he was ordered to pay just GBP3.25 million of the money he got his hands on. If he doesn’t return it within six months, he will serve a default sentence of seven years.

Irish Times: AIB fraudster told to pay £3.25m or face seven more years in jail

After being convicted and sentenced for defrauding AIB and Bank of Scotland for GBP61 million (EUR77.9 million) in 2012, two fraudsters have been ordered to return a total of GBP3.7 million (EUR4.7 million) by Southwark Crown Court judge.

His Hon Judge Andrew Goymer ruled that Greek businessman Achilleas Kallakis has to return GBP3.25 million within the next six months, or he’ll have to serve another seven years in jail. His partner Alexander Williams also has six months to pay back GBP477,000 (EUR610,000), otherwise he’ll be spending another three years in jail, on top of his current sentence.

In a statement published in Britain’s latest gambling news, Serious Fraud Office (SFO) chief Mark Thompson told reporters: “The SFO is committed to ensuring fraudsters do not retain the benefit of their crimes. We will take steps to make sure the order is satisfied but if he does not pay, he faces a further lengthy term of imprisonment.”

The confiscated money is supposed to go to Her Majesty’s Court and Tribunal Service, which will then distribute it in accordance with orders issued by judges. The victims may also receive part of it as compensation.

During the trial, the SFO said: “This was an audacious, persistent fraud that enabled these defendants, Mr Kallakis in particular, to lead the lifestyle of the super-rich.”

Independent.ie: Judge brands AIB ‘careless’ as EUR920m fraudsters jailed

In January 2013, the judge handling the case of Achilleas Kallakis sharply criticized AIB for its practices during the boom. The judge said bank employees acted “carelessly and imprudently” when they decided to lend the fraudster money. Both Kallakis and his partner were jailed for the fraud they committed. Damages added up to EUR920 million.

The Greek businessman was sentenced to seven years in prison and Alex Williams was handed a five years sentence. The pair was found guilty of orchestrating a fraud in which fake documentation was used to obtain bank loans. The money was used to purchase a number of high-end properties across the UK.

The pair was found guilty by a unanimous verdict of the jury of conspiracy to commit fraud related to the loans, which were taken out between 2003 and 2008, mainly from AIB but also from Bank of Scotland. Judge Andrew Goymer said they had taken advantage of the lax standards in place at that time, but he added that bankers failed to act responsibly. The fraud was discovered five years after the first of 16 loans was approved by AIB.

The judge said: “The two banks, Allied Irish Bank and Bank of Scotland, have undoubtedly acted carelessly and imprudently by failing to make full inquiries before advancing the money. It is, however, quite apparent that both defendants took full advantage of the prevailing banking culture in which corners were cut and checks on applications were superficial and cursory.”

Achilleas Kallakis will serve an additional seven years in jail unless he returns GBP3 million within six months.

After fooling bankers into loaning him money which he then used to buy property and build a super-yacht, 46-year-old Achilleas Kallakis was sentenced to jail at the beginning of 2013, along with his partner Alexander Williams, who helped him forge financial guarantees.

Now the judge ordered Kallakis to pay back GBP3 million within the next six months. If he fails to do so, he’ll be facing another seven years in prison. His partner in crime Alexander Williams also has three months to return GBP477,000, or else he will be forced to serve a three-year sentence.

Both of them were originally sentenced to jail in January 2013, after the court found them guilty of conspiring to defraud banks through deception and forgery. The biggest victim was AIB.

DailyMail: Poker player who stole £750 million in property fraud to fund millionaire lifestyle of private jets, yachts and luxury villas is ordered to pay back just £3million

A high-rolling poker player who committed a GBP750 million bank fraud so he could fund a luxurious lifestyle for himself has been ordered to pay back just GBP3 million of that money. Achilleas Kallakis, 46, conned two banks into advancing huge loans so he could purchase 16 landmark properties in the UK.

The buildings bought by Kallakis, the nephew of a Greek shipping magnate, included the GBP225 million London headquarters of the Daily Telegraph, as well as a GBP100 million Home Office building located in Croydon.

Known for his impressive poker results after winning $1 million in one game, Kallakis teamed up with “prolific forger” Alexander Williams, also 46, in his scheme to defraud two major banks: the Allied Irish Bank (AIB) and the Bank of Scotland.

The pair operated out of an office in Mayfair, calling themselves the Pacific Group of Companies. Lenders were tricked into advancing loans totaling GBP766 million, all backed by forged or false documents.

Using the money he got conning banks, The Don then spent millions of pounds on an extravagant lifestyle. The man claimed to be a San Marino ambassador and called himself “his Excellency”. He spent GBP27 million on a private jet, bought a helicopter worth GBP5.2 million, owned a yacht moored in Monaco, a fleet of chauffeur-driven Bentleys, as well as a villa in Mykonos.

Last year, the man was finally convicted of two counts of conspiracy to defraud banks and sent to prison to serve a seven-year sentence, but now he was ordered to pay just GBP3.25 million of the money he got his hands on. If he doesn’t return it within six months, he will serve a default sentence of seven years.

Irish Times: AIB fraudster told to pay £3.25m or face seven more years in jail

After being convicted and sentenced for defrauding AIB and Bank of Scotland for GBP61 million (EUR77.9 million) in 2012, two fraudsters have been ordered to return a total of GBP3.7 million (EUR4.7 million) by Southwark Crown Court judge.

His Hon Judge Andrew Goymer ruled that Greek businessman Achilleas Kallakis has to return GBP3.25 million within the next six months, or he’ll have to serve another seven years in jail. His partner Alexander Williams also has six months to pay back GBP477,000 (EUR610,000), otherwise he’ll be spending another three years in jail, on top of his current sentence.

In a statement published in Britain’s latest gambling news, Serious Fraud Office (SFO) chief Mark Thompson told reporters: “The SFO is committed to ensuring fraudsters do not retain the benefit of their crimes. We will take steps to make sure the order is satisfied but if he does not pay, he faces a further lengthy term of imprisonment.”

The confiscated money is supposed to go to Her Majesty’s Court and Tribunal Service, which will then distribute it in accordance with orders issued by judges. The victims may also receive part of it as compensation.

During the trial, the SFO said: “This was an audacious, persistent fraud that enabled these defendants, Mr Kallakis in particular, to lead the lifestyle of the super-rich.”

Independent.ie: Judge brands AIB ‘careless’ as EUR920m fraudsters jailed

In January 2013, the judge handling the case of Achilleas Kallakis sharply criticized AIB for its practices during the boom. The judge said bank employees acted “carelessly and imprudently” when they decided to lend the fraudster money. Both Kallakis and his partner were jailed for the fraud they committed. Damages added up to EUR920 million.

The Greek businessman was sentenced to seven years in prison and Alex Williams was handed a five years sentence. The pair was found guilty of orchestrating a fraud in which fake documentation was used to obtain bank loans. The money was used to purchase a number of high-end properties across the UK.

The pair was found guilty by a unanimous verdict of the jury of conspiracy to commit fraud related to the loans, which were taken out between 2003 and 2008, mainly from AIB but also from Bank of Scotland. Judge Andrew Goymer said they had taken advantage of the lax standards in place at that time, but he added that bankers failed to act responsibly. The fraud was discovered five years after the first of 16 loans was approved by AIB.

The judge said: “The two banks, Allied Irish Bank and Bank of Scotland, have undoubtedly acted carelessly and imprudently by failing to make full inquiries before advancing the money. It is, however, quite apparent that both defendants took full advantage of the prevailing banking culture in which corners were cut and checks on applications were superficial and cursory.”

In efforts to maintain a more transparent approach with their gaming practices, some of the biggest bookmakers in Britain believe it is in their best interest to establish a supervisory watchdog. This newly formed group will aim to keep them in line with responsible gambling and other relevant standards that the industry calls for.

The Guardian: Bookmakers sign up to voluntary watchdog

With the current industry demands to create a higher standard of gaming and increase efforts to engage in responsible gambling, several high-profile firms are looking into setting up a watchdog. William Hill, Ladbrokes, Coral and Paddy Power are all among the gaming providers that want to implement the new group to oversee their practices.

They have come up with this plan in order to help them with avoid statutory measures for offering “free money” on many of their gaming machines and in betting shops. All of these big firms have agreed to remove all advertisements for touch-screen roulette machines from their respective shops starting from next month.

Additionally, they will also install responsible gambling messages that will be visible across a fifth of their shops’ space. Advertisement that promote “free bets” and “free money” for players to claim will not be aired before 9pm.

Latest gambling news reports that the new overseeing association will be called the Senet Group. Among their many responsibilities will be to fund educational advertising campaigns on problems that are associated with gambling. The group will also make sure to alter their TV commercials to contain more messages that are oriented towards responsible gambling.

Latest gambling news reports that Silver is determined many states that are currently experiencing financial difficulties will want to follow the model set by Nevada. The gaming state allows sports betting and is showing a steady growth.

Financial Times: Britain’s biggest bookmakers to create gambling watchdog

In order to follow through on tougher gaming standards that are being imposed by officials, four of the biggest bookmakers in Britain will create a new overseeing body. Problem gambling has become a heated debate in the industry, so establishing a board should help them curtail issues associated with that.

The self-regulatory body will be titled the Senet group (named after a board game in ancient Egypt), and its purpose will be to help maintains the standards that are sought by the industry today. The group will have the capacity to “name and shame” and also impose fines for any companies that don’t follow through on the missions and objectives set by it.

Other big name gaming providers like Bet365 and BetFred have also been invited to participate and sign-up for the new supervisory entity. The planned date for its launch is currently believed to be in January after several important steps pass completion.

Chief executive of Gala Coral, Carl Leaver, stated, “Actions speak louder than words. That’s why the Senet Group will be given the independence, budget and purpose to hold the betting industry to account.”

Recently, government official have expressed concern about the increased number of betting shops and the effect that they have on Britain’s society. This has seen them launch initiates to reduce problem gambling which is heavily linked to gambling advertisements and high-stakes betting machines that are provided by many betting shops.

Express & Star: Bookies back responsible gambling

William Hill, Ladbrokes, Coral and Paddy Power have all come together to form a new overseeing entity that is intended to help them maintain responsible gambling practices. Many corners of the country believe that gambling providers should be held accountable for problems that may arise due to intense gambling pursuits.

Therefore, the new body titled the Senet Group will be tasked with implementing strict guidelines and measures for all the gambling providers to follow. The key goals that have been put forward by the firms involve the voluntary ban on advertising various gambling offers such as “free bets” and “free money” before 9 pm.

Betting shops will also remove all advertisements of gaming machines from all their windows. Additionally, they will convert a fifth of their shop window advertisement space into messages that will bear responsible gambling points, according to gambling news.

The aim is to protect “vulnerable” gamblers from spending all of their money, while the new group will also have the power to “name and shame” and impose fines for any provider that doesn’t follow the regulations.

Although currently there are four founding companies looking to establish a watchdog, others have also been encouraged to join. Chief executive of Ladbrokes, Richard Glynn, commented, “Gambling has long been a leisure pursuit and part of the cultural fabric of the UK, but we are alive to the concerns of the public to keep gambling a responsible and fun activity.”

PoliticsHome: Four bookmakers set up watchdog to keep themselves in check

A total of four gaming providers have come up with a plant to set up an overseeing body that will make sure all the companies are running socially responsible operations. William Hill, Ladbrokes, Gala Coral and Paddy Power have all agreed to start the new Senet group to keep them in line with the guidelines demanded by government officials and the public.

All of the big four companies are already member of the Association of British Bookmakers, and the new group will help them maintain leverage over BetFred, which the largest non-member of the Association.

The Gambling Commission was established by the government to oversee and make sure all practices are scrupulous and responsible towards the society at large. However, up until it has not done much with its powers but instead has managed to receive criticism from some corners of the public for not doing any effective work.

No fines or penalties like loss of license have been issued to providers for breaching regulations on gambling. The Commission has not been able to discipline the perpetrators for not following the rules which has propelled the government and the public to seek a better regulating body to ensure all runs according to the guidelines.

In efforts to maintain a more transparent approach with their gaming practices, some of the biggest bookmakers in Britain believe it is in their best interest to establish a supervisory watchdog. This newly formed group will aim to keep them in line with responsible gambling and other relevant standards that the industry calls for.

The Guardian: Bookmakers sign up to voluntary watchdog

With the current industry demands to create a higher standard of gaming and increase efforts to engage in responsible gambling, several high-profile firms are looking into setting up a watchdog. William Hill, Ladbrokes, Coral and Paddy Power are all among the gaming providers that want to implement the new group to oversee their practices.

They have come up with this plan in order to help them with avoid statutory measures for offering “free money” on many of their gaming machines and in betting shops. All of these big firms have agreed to remove all advertisements for touch-screen roulette machines from their respective shops starting from next month.

Additionally, they will also install responsible gambling messages that will be visible across a fifth of their shops’ space. Advertisement that promote “free bets” and “free money” for players to claim will not be aired before 9pm.

Latest gambling news reports that the new overseeing association will be called the Senet Group. Among their many responsibilities will be to fund educational advertising campaigns on problems that are associated with gambling. The group will also make sure to alter their TV commercials to contain more messages that are oriented towards responsible gambling.

Latest gambling news reports that Silver is determined many states that are currently experiencing financial difficulties will want to follow the model set by Nevada. The gaming state allows sports betting and is showing a steady growth.

Financial Times: Britain’s biggest bookmakers to create gambling watchdog

In order to follow through on tougher gaming standards that are being imposed by officials, four of the biggest bookmakers in Britain will create a new overseeing body. Problem gambling has become a heated debate in the industry, so establishing a board should help them curtail issues associated with that.

The self-regulatory body will be titled the Senet group (named after a board game in ancient Egypt), and its purpose will be to help maintains the standards that are sought by the industry today. The group will have the capacity to “name and shame” and also impose fines for any companies that don’t follow through on the missions and objectives set by it.

Other big name gaming providers like Bet365 and BetFred have also been invited to participate and sign-up for the new supervisory entity. The planned date for its launch is currently believed to be in January after several important steps pass completion.

Chief executive of Gala Coral, Carl Leaver, stated, “Actions speak louder than words. That’s why the Senet Group will be given the independence, budget and purpose to hold the betting industry to account.”

Recently, government official have expressed concern about the increased number of betting shops and the effect that they have on Britain’s society. This has seen them launch initiates to reduce problem gambling which is heavily linked to gambling advertisements and high-stakes betting machines that are provided by many betting shops.

Express & Star: Bookies back responsible gambling

William Hill, Ladbrokes, Coral and Paddy Power have all come together to form a new overseeing entity that is intended to help them maintain responsible gambling practices. Many corners of the country believe that gambling providers should be held accountable for problems that may arise due to intense gambling pursuits.

Therefore, the new body titled the Senet Group will be tasked with implementing strict guidelines and measures for all the gambling providers to follow. The key goals that have been put forward by the firms involve the voluntary ban on advertising various gambling offers such as “free bets” and “free money” before 9 pm.

Betting shops will also remove all advertisements of gaming machines from all their windows. Additionally, they will convert a fifth of their shop window advertisement space into messages that will bear responsible gambling points, according to gambling news.

The aim is to protect “vulnerable” gamblers from spending all of their money, while the new group will also have the power to “name and shame” and impose fines for any provider that doesn’t follow the regulations.

Although currently there are four founding companies looking to establish a watchdog, others have also been encouraged to join. Chief executive of Ladbrokes, Richard Glynn, commented, “Gambling has long been a leisure pursuit and part of the cultural fabric of the UK, but we are alive to the concerns of the public to keep gambling a responsible and fun activity.”

PoliticsHome: Four bookmakers set up watchdog to keep themselves in check

A total of four gaming providers have come up with a plant to set up an overseeing body that will make sure all the companies are running socially responsible operations. William Hill, Ladbrokes, Gala Coral and Paddy Power have all agreed to start the new Senet group to keep them in line with the guidelines demanded by government officials and the public.

All of the big four companies are already member of the Association of British Bookmakers, and the new group will help them maintain leverage over BetFred, which the largest non-member of the Association.

The Gambling Commission was established by the government to oversee and make sure all practices are scrupulous and responsible towards the society at large. However, up until it has not done much with its powers but instead has managed to receive criticism from some corners of the public for not doing any effective work.

No fines or penalties like loss of license have been issued to providers for breaching regulations on gambling. The Commission has not been able to discipline the perpetrators for not following the rules which has propelled the government and the public to seek a better regulating body to ensure all runs according to the guidelines.

Despite still facing an upward challenge from the US government, NBA Commissioner Adam Silver is confident that sports gambling is about to become a reality pretty soon. He is assured that the league won’t be downgraded as some sceptics have stressed, but rather it will benefit and more importantly profit from the new undertaking.

Boston.com: NBA Commissioner Envisions Legalized Sports Gambling

Latest gambling news reports that Silver is determined many states that are currently experiencing financial difficulties will want to follow the model set by Nevada. The gaming state allows sports betting and is showing a steady growth.

Silver commented how gambling in sports is simply inevitable and the negative economic climate will dictate a need for a new revenue source. Considering just how lucrative the business is, it is easy to see why the Commissioner believes it will benefit them and the league.

“It’s inevitable that, if all these states are broke, that there will be legalized sports betting in more states than Nevada and we will ultimately participate in that. If you have a gentlemen’s bet or a small wager on any kind of sports contest, it makes you that much more engaged in it. That’s where we’re going to see it pay dividends.”

Silver brings a fresh approach to the question of sports gambling to the NBA, as the league didn’t seem too fond of the plan before he came to his position. The previous Commissioner David Stern disapproved of the idea and many other objectives that were proposed by Silver before.

However, now it seems that Silver’s aims may come to fruition should everything work out according to plan. He indicated that NBA teams already have the right to enter marketing deals with casinos, so sports gambling should be the next step.

“If people are watching a game and clicking to bet on their smartphones, which people are doing in the United Kingdom right now, then it’s more likely you’re to stay tuned for a long time.”

Bloomberg: NBA’s Silver Says Legal Sports Gambling in U.S. is Inevitable

Adam Silver wants the National Basketball Association (NBA) to profit from the fresh idea of sports gambling. On previous occasions the NBA seemed reluctant to allow the business to form into reality as they blocked New Jersey from introducing sports betting as a business.

Despite the fact that the NBA did not support New Jersey Governor Chris Christie in his intentions of introducing sports gambling, the league is looking to profit from the broadening of legal sports betting in US. “It’s inevitable that, if all these states are broke, that there will be legalized sports betting in more states than Nevada and we will ultimately participate in that.”

Silver has been part of the NBA for over two decades and managed to take over from the spot of former Commissioner David Stern in February of this year. He asserts that he doesn’t see anything morally wrong with sports betting, and highlighted that teams already make marketing and licensing deals with casinos, therefore the NBA would only profit from it.

ESPN: Adam Silver: Betting is Inevitable

Unlike previous indications made by the world’s best basketball league, sports betting is looking to become a reality according to new NBA Commissioner Adam Silver. He is convinced that it is “inevitable” as it is only a matter of time before it happens.

Merely two years ago, the NBA joined the rest of the professional sports leagues in the US in efforts to prevent an Eastern state from offering any sports betting activities. The NBA, NCAA, MLB, NFL and NHL were all part of a group that blocked New Jersey from pursuing their sports gambling aspirations.

In a court room hearing former NBA Commissioner David Stern criticized New Jersey Governor Chris Christie for lack of morality and only being interested in money. “The one thing I’m certain of is New Jersey has no idea what it’s doing and doesn’t care because all it’s interested in is making a buck or two. They don’t care that it’s at our potential loss.”

The NBA managed to have their way in court as the Department of Justice also weighed in on the matter which eventually led to the judge ruling in their favor and dismissing New Jersey’s hopes of sports betting. Nevertheless, the state is pursuing its ambitions to legalize the business, and considering the recent change in NBA leadership that may very well happen.

The Washington Post: The NBA went to court to stop expanded sports gambling. Now Commissioner Adam Silver says he’s fine with it

According to gambling news, New Jersey pushing hard to implement sport gambling in the state, however it got pulled on the side by a group professional sports leagues. Two federal courts took the side of the league and prevented New Jersey from fulfilling its aims. The state tried to have a hearing with the US Supreme Court, but they got declined in June.

At the time when the NBA was against the introduction of sport betting, David Stern was the Commissioner of the league. However, now things have changed quite a bit considering the new and completely opposite stance that the NBA is taking.

New Commissioner Adam Silver assumed his new position as the head of the league and has expressed support for sports gambling. He asserted that the NBA stands to benefit from the spreading of sports betting in the US, despite not backing New Jersey Governor Chris Christie.

Christie is an avid supporter or sports gambling, however recently he stated that the state should follow federal law. He said the New Jersey needs to “determine if a different approach towards sports wagering would comply with federal law.”

He also added, “While I do not agree with the Circuit Court’s decision, I do believe that the rule of law is sacrosanct, binding on all Americans. That duty adheres with special solemnity to those elected officials privileged to swear and oath to uphold the laws in our nation.”

Despite still facing an upward challenge from the US government, NBA Commissioner Adam Silver is confident that sports gambling is about to become a reality pretty soon. He is assured that the league won’t be downgraded as some sceptics have stressed, but rather it will benefit and more importantly profit from the new undertaking.

Boston.com: NBA Commissioner Envisions Legalized Sports Gambling

Latest gambling news reports that Silver is determined many states that are currently experiencing financial difficulties will want to follow the model set by Nevada. The gaming state allows sports betting and is showing a steady growth.

Silver commented how gambling in sports is simply inevitable and the negative economic climate will dictate a need for a new revenue source. Considering just how lucrative the business is, it is easy to see why the Commissioner believes it will benefit them and the league.

“It’s inevitable that, if all these states are broke, that there will be legalized sports betting in more states than Nevada and we will ultimately participate in that. If you have a gentlemen’s bet or a small wager on any kind of sports contest, it makes you that much more engaged in it. That’s where we’re going to see it pay dividends.”

Silver brings a fresh approach to the question of sports gambling to the NBA, as the league didn’t seem too fond of the plan before he came to his position. The previous Commissioner David Stern disapproved of the idea and many other objectives that were proposed by Silver before.

However, now it seems that Silver’s aims may come to fruition should everything work out according to plan. He indicated that NBA teams already have the right to enter marketing deals with casinos, so sports gambling should be the next step.

“If people are watching a game and clicking to bet on their smartphones, which people are doing in the United Kingdom right now, then it’s more likely you’re to stay tuned for a long time.”

Bloomberg: NBA’s Silver Says Legal Sports Gambling in U.S. is Inevitable

Adam Silver wants the National Basketball Association (NBA) to profit from the fresh idea of sports gambling. On previous occasions the NBA seemed reluctant to allow the business to form into reality as they blocked New Jersey from introducing sports betting as a business.

Despite the fact that the NBA did not support New Jersey Governor Chris Christie in his intentions of introducing sports gambling, the league is looking to profit from the broadening of legal sports betting in US. “It’s inevitable that, if all these states are broke, that there will be legalized sports betting in more states than Nevada and we will ultimately participate in that.”

Silver has been part of the NBA for over two decades and managed to take over from the spot of former Commissioner David Stern in February of this year. He asserts that he doesn’t see anything morally wrong with sports betting, and highlighted that teams already make marketing and licensing deals with casinos, therefore the NBA would only profit from it.

ESPN: Adam Silver: Betting is Inevitable

Unlike previous indications made by the world’s best basketball league, sports betting is looking to become a reality according to new NBA Commissioner Adam Silver. He is convinced that it is “inevitable” as it is only a matter of time before it happens.

Merely two years ago, the NBA joined the rest of the professional sports leagues in the US in efforts to prevent an Eastern state from offering any sports betting activities. The NBA, NCAA, MLB, NFL and NHL were all part of a group that blocked New Jersey from pursuing their sports gambling aspirations.

In a court room hearing former NBA Commissioner David Stern criticized New Jersey Governor Chris Christie for lack of morality and only being interested in money. “The one thing I’m certain of is New Jersey has no idea what it’s doing and doesn’t care because all it’s interested in is making a buck or two. They don’t care that it’s at our potential loss.”

The NBA managed to have their way in court as the Department of Justice also weighed in on the matter which eventually led to the judge ruling in their favor and dismissing New Jersey’s hopes of sports betting. Nevertheless, the state is pursuing its ambitions to legalize the business, and considering the recent change in NBA leadership that may very well happen.

The Washington Post: The NBA went to court to stop expanded sports gambling. Now Commissioner Adam Silver says he’s fine with it

According to gambling news, New Jersey pushing hard to implement sport gambling in the state, however it got pulled on the side by a group professional sports leagues. Two federal courts took the side of the league and prevented New Jersey from fulfilling its aims. The state tried to have a hearing with the US Supreme Court, but they got declined in June.

At the time when the NBA was against the introduction of sport betting, David Stern was the Commissioner of the league. However, now things have changed quite a bit considering the new and completely opposite stance that the NBA is taking.

New Commissioner Adam Silver assumed his new position as the head of the league and has expressed support for sports gambling. He asserted that the NBA stands to benefit from the spreading of sports betting in the US, despite not backing New Jersey Governor Chris Christie.

Christie is an avid supporter or sports gambling, however recently he stated that the state should follow federal law. He said the New Jersey needs to “determine if a different approach towards sports wagering would comply with federal law.”

He also added, “While I do not agree with the Circuit Court’s decision, I do believe that the rule of law is sacrosanct, binding on all Americans. That duty adheres with special solemnity to those elected officials privileged to swear and oath to uphold the laws in our nation.”

Although analysts estimated that business would pick up again in Macau, revenue hit a new low in August. Latest gambling news say this was the third consecutive month when the world’s largest gambling hub posted a decline in profits, after China’s anti-graft campaign kept VIP gamblers away. As a consequence, casino shares also dropped.The downward trend began in June, when the city’s casino revenue saw the first decrease. July brought more bad news, and that’s when analysts jumped in to say it was only because of the FIFA World Cup, which had supposedly kept gamblers away from the casino table. Industry experts said profits would most likely increase again in August, but recent figures reveal a new drop in profits.

The 3.7% revenue decrease reported in June was the first drop Macau saw in five years. The former Portuguese colony is the only place in China where gambling laws allow casinos.

Reuters:  Macau gambling revenue declines for third consecutive month

This August, gambling revenue in Macau fell 6.1% on a year-to-year basis. News reports say this was also the third consecutive month when profits declined. Many believe it has something to do with China’s campaign against corruption, which extends to the world’s largest gambling hub and keeps VIP gamblers away.

According to a financial report released by the local government on Monday, total gambling revenue fell to 28.9 billion patacas in August (the equivalent of $3.6 billion) from 30.7 billion patacas in the same month of 2013. Industry analysts were expecting a decline of 2 to 6%.

There are 35 casinos operating in Macau at present. The former Portuguese colony is part of Chinese territory, but it’s still a special administrative region, just like neighboring Hong Kong. Gambling is not allowed on the mainland, but casinos are legal in Macau and the area has developed a lot over the past decade, becoming the world’s largest gambling hub.

During the past two years profits have seen a major increase. Revenue reached a total of $45 billion in 2013, but the latest figures have plummeted to lows last seen in 2009.

Bloomberg:  Macau Casino Revenue Misses Estimates on China Probes

Macau’s Gaming Inspection and Coordination Bureau recently announced that August’s total gross gaming revenue has declined 6.1% to 28.9 billion patacas. The percentage is much higher than the median estimate of just 2% promoted by seven analysts surveyed by Bloomberg News.

Chinese President Xi Jinping has ordered authorities to look into corruption and lavish spending in Macau. Officials suspect mainland residents are trying to find ways around the law, in order to spend more money on casino games than they’re allowed to. They are not looking into methods some gamblers use to transfer money from China, which has caused VIPs take their money somewhere else.

Although the number of visitors hasn’t changed much in Macau, Hong Kong-based analyst Philip Tulk said: “China’s anti-corruption campaign seems to be keeping some high-rollers out of Macau, and that’s unlikely to change much in the fourth quarter.”

Meanwhile, this has caused Sands China’s shared to drop 3.2%, while Galaxy Entertainment Group has seen a 2.9% decrease in shares.

Japan Times:  Macau casino dealers take industrial action for first time

While company shares are dropping and high-rollers are looking for other places where they can spend their money, Macau dealers working for one of the most popular casinos in the region have started industrial action against their employers. The protest is a first in Chinese history.

More than 1,000 dealers from SJM Holdings are asking for better salaries and benefits spreads. Some of them have shown up late for their shifts, while others have stopped working overtime.

“SJM has mobilized additional manpower support to handle the situation and promised that today, if workers are willing to go to work, they will guarantee compensation three times the salary,” baccarat dealer Ieong Mang Teng told reporters. Teng is also the head of a labor group called “Forefront of Macau Gaming”.

Despite all of these problems, eight new resorts are expected to be built in Macau over the next three years.

Although analysts estimated that business would pick up again in Macau, revenue hit a new low in August. Latest gambling news say this was the third consecutive month when the world’s largest gambling hub posted a decline in profits, after China’s anti-graft campaign kept VIP gamblers away. As a consequence, casino shares also dropped.The downward trend began in June, when the city’s casino revenue saw the first decrease. July brought more bad news, and that’s when analysts jumped in to say it was only because of the FIFA World Cup, which had supposedly kept gamblers away from the casino table. Industry experts said profits would most likely increase again in August, but recent figures reveal a new drop in profits.

The 3.7% revenue decrease reported in June was the first drop Macau saw in five years. The former Portuguese colony is the only place in China where gambling laws allow casinos.

Reuters:  Macau gambling revenue declines for third consecutive month

This August, gambling revenue in Macau fell 6.1% on a year-to-year basis. News reports say this was also the third consecutive month when profits declined. Many believe it has something to do with China’s campaign against corruption, which extends to the world’s largest gambling hub and keeps VIP gamblers away.

According to a financial report released by the local government on Monday, total gambling revenue fell to 28.9 billion patacas in August (the equivalent of $3.6 billion) from 30.7 billion patacas in the same month of 2013. Industry analysts were expecting a decline of 2 to 6%.

There are 35 casinos operating in Macau at present. The former Portuguese colony is part of Chinese territory, but it’s still a special administrative region, just like neighboring Hong Kong. Gambling is not allowed on the mainland, but casinos are legal in Macau and the area has developed a lot over the past decade, becoming the world’s largest gambling hub.

During the past two years profits have seen a major increase. Revenue reached a total of $45 billion in 2013, but the latest figures have plummeted to lows last seen in 2009.

Bloomberg:  Macau Casino Revenue Misses Estimates on China Probes

Macau’s Gaming Inspection and Coordination Bureau recently announced that August’s total gross gaming revenue has declined 6.1% to 28.9 billion patacas. The percentage is much higher than the median estimate of just 2% promoted by seven analysts surveyed by Bloomberg News.

Chinese President Xi Jinping has ordered authorities to look into corruption and lavish spending in Macau. Officials suspect mainland residents are trying to find ways around the law, in order to spend more money on casino games than they’re allowed to. They are not looking into methods some gamblers use to transfer money from China, which has caused VIPs take their money somewhere else.

Although the number of visitors hasn’t changed much in Macau, Hong Kong-based analyst Philip Tulk said: “China’s anti-corruption campaign seems to be keeping some high-rollers out of Macau, and that’s unlikely to change much in the fourth quarter.”

Meanwhile, this has caused Sands China’s shared to drop 3.2%, while Galaxy Entertainment Group has seen a 2.9% decrease in shares.

Japan Times:  Macau casino dealers take industrial action for first time

While company shares are dropping and high-rollers are looking for other places where they can spend their money, Macau dealers working for one of the most popular casinos in the region have started industrial action against their employers. The protest is a first in Chinese history.

More than 1,000 dealers from SJM Holdings are asking for better salaries and benefits spreads. Some of them have shown up late for their shifts, while others have stopped working overtime.

“SJM has mobilized additional manpower support to handle the situation and promised that today, if workers are willing to go to work, they will guarantee compensation three times the salary,” baccarat dealer Ieong Mang Teng told reporters. Teng is also the head of a labor group called “Forefront of Macau Gaming”.

Despite all of these problems, eight new resorts are expected to be built in Macau over the next three years.

The results of a recent study on gambling addiction are causing people to worry about the imminent legalization of casinos in Japan. According to the survey, almost 5% of Japanese adults are already problem gamblers, despite casino games being forbidden in the country.

The latest gambling news have revealed that, compared to the majority of other nations, this rate is five times bigger.Instead of popular games such as roulette, slot machines, or even blackjack, Japan’s favorite is pachinko. There are a number of pachinko parlors across the country, and they are all extremely popular.

In addition, the study showed a rising trend in Internet and alcohol addiction among Japanese adults. The survey was headed by Susumu Higuchi, a leading expert on addiction. Higuchi is worried that legalizing casinos would make things worse. “If something new becomes available, addiction will only rise,” he told reporters.

Yahoo News: Gambling, IT, booze addictions rife in Japan: studyThe study brought to light one of the most worrying gambling facts, that 5% of adults living in Japan have lost control over their gambling habits. What separates the Japanese from other developed, industrialized nations is the low public awareness regarding the dangers of gambling addiction.

A campaigner who has a significant amount of experience in the field said that while others prefer to talk openly about this issue and try to prevent it or to at least reduce its negative impact, things are different in Japan, where no one wants to confront the reality of problem gambling.

According to researchers, roughly 5.36 million people in Japan are most probably pathological gamblers. That number represents 4.8% of the country’s adult population, all of them players who cannot resist the impulse to spend their money on wagers.

While casinos are still illegal at the moment, there are a number of pachinko parlors and other gambling establishments to choose from.

Wall Street Journal: Five Million Japanese Have Gambling Problem, Says Ministry Study

According to a group of researchers working under the Ministry of Health, Labor and Welfare, around 5.36 million people living in Japan could be suffering from a pathological gambling problem. The number represents 4.8% of the country’s adult population.

The study was funded by the ministry and the team of researchers was led by Susumu Higuchi of the Kurihama Medical and Addiction Center. In 2013, 4,153 randomly chosen adults living in Japan participated in the survey that found 8.7% of men and 1.8% of women show signs that they could be addicted to gambling.

Everyone participating in the survey was told to describe their gambling habits. They were asked to talk about activities such as betting on horse racing, online casino games, slot machines, boat racing, as well as pachinko. The latter is a very popular pinball-like game which can be played in parlors across the country.

The report also revealed that, compared to other developed countries, Japan had a higher percentage of pathological gamblers.

The Asahi Shimbun: Millions of Japanese hooked on gambling, survey shows

Recent news have revealed that an estimated 5.36 million Japanese adults – representing 4.5% of the nation’s adult population – are suspected of being addicted to gambling. About 4.38 million adult males and 980,000 female adults are habitual gamblers. The results are similar to those found in 2008, at the time of the last study.

The researchers asked subjects to answer “yes” or “no” to a number of questions or affirmations such as “I have gambled more than what I initially intended to do”. Those who answered “yes” to most of them are suspected of being pathological gamblers, as their replies indicate they cannot resist the temptation of playing for money.

Compared to other countries where similar studies have been carried out, the ratio for both men and women was particularly high in Japan. For example, in Switzerland only 0.5% of the total adult population was suspected of having a gambling problem; in the Us state of Louisiana, the percentage was a bit higher, at 1.58%, while in Hong Kong it reached 1.8%. Still, none of these come close to Japan’s 4.8%.

Susumu Higuchi, one of the researchers involved in the study told reporters: “On a global basis, Japan has one of the highest ratios of pathological gamblers as gambling devices such as pachinko and slot machine games are ubiquitous.”

Now the media believes that the study could impact the administration’s plan for economic growth, which includes proposals to allow casino resorts in certain parts of Japan.

The results of a recent study on gambling addiction are causing people to worry about the imminent legalization of casinos in Japan. According to the survey, almost 5% of Japanese adults are already problem gamblers, despite casino games being forbidden in the country.

The latest gambling news have revealed that, compared to the majority of other nations, this rate is five times bigger.Instead of popular games such as roulette, slot machines, or even blackjack, Japan’s favorite is pachinko. There are a number of pachinko parlors across the country, and they are all extremely popular.

In addition, the study showed a rising trend in Internet and alcohol addiction among Japanese adults. The survey was headed by Susumu Higuchi, a leading expert on addiction. Higuchi is worried that legalizing casinos would make things worse. “If something new becomes available, addiction will only rise,” he told reporters.

Yahoo News: Gambling, IT, booze addictions rife in Japan: studyThe study brought to light one of the most worrying gambling facts, that 5% of adults living in Japan have lost control over their gambling habits. What separates the Japanese from other developed, industrialized nations is the low public awareness regarding the dangers of gambling addiction.

A campaigner who has a significant amount of experience in the field said that while others prefer to talk openly about this issue and try to prevent it or to at least reduce its negative impact, things are different in Japan, where no one wants to confront the reality of problem gambling.

According to researchers, roughly 5.36 million people in Japan are most probably pathological gamblers. That number represents 4.8% of the country’s adult population, all of them players who cannot resist the impulse to spend their money on wagers.

While casinos are still illegal at the moment, there are a number of pachinko parlors and other gambling establishments to choose from.

Wall Street Journal: Five Million Japanese Have Gambling Problem, Says Ministry Study

According to a group of researchers working under the Ministry of Health, Labor and Welfare, around 5.36 million people living in Japan could be suffering from a pathological gambling problem. The number represents 4.8% of the country’s adult population.

The study was funded by the ministry and the team of researchers was led by Susumu Higuchi of the Kurihama Medical and Addiction Center. In 2013, 4,153 randomly chosen adults living in Japan participated in the survey that found 8.7% of men and 1.8% of women show signs that they could be addicted to gambling.

Everyone participating in the survey was told to describe their gambling habits. They were asked to talk about activities such as betting on horse racing, online casino games, slot machines, boat racing, as well as pachinko. The latter is a very popular pinball-like game which can be played in parlors across the country.

The report also revealed that, compared to other developed countries, Japan had a higher percentage of pathological gamblers.

The Asahi Shimbun: Millions of Japanese hooked on gambling, survey shows

Recent news have revealed that an estimated 5.36 million Japanese adults – representing 4.5% of the nation’s adult population – are suspected of being addicted to gambling. About 4.38 million adult males and 980,000 female adults are habitual gamblers. The results are similar to those found in 2008, at the time of the last study.

The researchers asked subjects to answer “yes” or “no” to a number of questions or affirmations such as “I have gambled more than what I initially intended to do”. Those who answered “yes” to most of them are suspected of being pathological gamblers, as their replies indicate they cannot resist the temptation of playing for money.

Compared to other countries where similar studies have been carried out, the ratio for both men and women was particularly high in Japan. For example, in Switzerland only 0.5% of the total adult population was suspected of having a gambling problem; in the Us state of Louisiana, the percentage was a bit higher, at 1.58%, while in Hong Kong it reached 1.8%. Still, none of these come close to Japan’s 4.8%.

Susumu Higuchi, one of the researchers involved in the study told reporters: “On a global basis, Japan has one of the highest ratios of pathological gamblers as gambling devices such as pachinko and slot machine games are ubiquitous.”

Now the media believes that the study could impact the administration’s plan for economic growth, which includes proposals to allow casino resorts in certain parts of Japan.

The gambling business is a massive industry that brings in enormous earnings year after year. Therefore, the Labour Party of UK has decided to take certain measures to see more money flowing back to the basic elements of sports by proposing a levy for sportsbetting. Some of the money will also be directed to help battle gambling problems that some players encounter.

The Labour Party believes that this step will help them create a solid foundation for future athletes, as revenues generated by the levy will go to their development.

The Guardian: Labour’s betting levy to be used for grassroots and problem gambling

The Labour Party is in the process of implementing a hefty levy on all bookmakers, as they hope to raise considerable revenue to redistribute throughout different areas in sports. A percentage of the levy revenue will go to problems dealing with gambling addictions and related issues, according to latest gambling news.

Harriet Harman and Clive Efford, shadow culture secretary and shadow sports minister respectively, have both issued a document “sports for all” as part of the levy proposal. Currently the levy is only applicable to horseracing, while around GBP 82 million given back to the racing industry in 2014.

Efford commented, “We believe it is right that businesses that make money from sport should contribute to sport. We are consulting on whether we should introduce a levy on betting, including online betting, to fund gambling awareness and support for problem gambling but also to improve community sports facilities and clubs.”

He also highlighted the importance of having the money returned to the grassroots of different sports, as that would help create the next wave of highly skilled athletes. “It’s my preference that the income from the levy went into a general pool to help grassroots sport and from which the respective sports would draw their future elite sportsmen and women.”

Reuters: UK opposition weighs betting levy to fund grassroots sport

Internet betting and Premier League TV revenue is the main target of the new levy, as the Labour Party is taking steps to see more people become involved in sports. The London Olympics 2012 served a great purpose in promotion people to become more active and partake in sporting recreations.

At the moment the levy is only attributed to horseracing activities, however the Labour Party sees additional potential in the Premier League and sportbetting providers.

Harriet Harman, shadow culture secretary, is certain that charging a new tax levy to the Premier League and betting firms will benefit the overall society. “Our consultation looks at a number of ideas which aim to boost investment in community and grassroots sports by getting tough with the Premier League and betting companies.”

Currently, the TV deals that the Premier League teams have negotiated are worth a staggering GBP 5 billion spread over a three year period. Labour wants more money to be directed to the lower levels of English football, to assist everyone involved.

The proposed levy received criticism from one online sportsbooks, namely Ladbrokes. The director of external relations of the betting giant, Donald McCabe, expressed his viewpoints on the levy matter that is surely going to impact their business.

“As far as we are aware no bookmaker or betting operator ever closed a community sports field or club. So we are not sure why an extra tax is being proposed on an industry already facing two tax increases and which pays out over 65 percent of all its earnings in taxes and levies.”

The Premier League issued a statement whereby they assert that the League already gives out GBP 56 million per season to good causes and grassroots football. They also spread out over GBP 60 million per season to lower tier clubs to help finance their operations.

“We understand that all those interested in the long-term health of English football want to see better grassroots facilities and higher levels of participation, particularly amongst young people. This is why we are committed to continue the unprecedented levels of funding we provide as well as being happy to engage on these matters.”

The Spectator: Labour’s sports betting levy will hit poor punters

A spokesperson from William Hill stated that the firm “welcomed all initiatives” that would benefit sports across all levels, but raised questions regarding the funding scheme. “We don’t believe that problem should be passed on to us,” said the spokesman.

The reasoning behind William Hill’s objections is that the gambling industry already shells out over GBP 1 billion to the UK Treasury. Another GBP 400 million is likely to be raised the following year, after recent new initiatives raised at the last Budget.

When it comes to imposing the new levy to the Premier League, clubs will have to charge more for their services, namely season tickets and similar products. For instance, football team Tottenham Hotspur charges its fans GBP 1,320 for the most expensive season tickets.

Taking into account that Premier League can be considered a “middle class” pursuit, a small hike in prices of season tickets could probably be tolerated by fans. However, the real problem with the proposed levy begs the question who will suffer from it? The middle class will most likely be able to afford the price increase, while another group won’t.

Many punters actively bet on a regular basis, however it is mainly considered to be a norm with the “working class.” The vast majority of people who bet regularly do not have over GBP 1,000 to splash out on a season ticket. So in reality they are the ones that would have to pay for the increase in prices of the new proposed levy.

BBC: Sport betting levy amongst ‘innovative’ Labour sport plans

Shadow culture secretary, Harriet Harman, claimed that the objective to use the 2012 Olympic Games as a tool to achieve higher sports activity within society did not have the effect they initially hoped for. She issued a statement saying that “strong government leadership” was necessary to achieve that goal.

Harman highlighted the negative results by saying, “We were all proud to host the Olympics and Paralympic Games in London two years ago, but instead of seeing increased participation things have got worse, especially among young people, as a result of the government axing school sports partnerships.”

Harman also added that she will look at options of restoring a rule to schools which dictated that students must have at least two hours of sport per week. Gambling news reports this requirement was previously removed by the coalition that made educational reforms.

All of these efforts are part of Labour’s plan titled More Sport for All. Part of the new plan includes setting new target for female participation in sports and also increasing the overall number of women on boards of sporting organizations.

The gambling business is a massive industry that brings in enormous earnings year after year. Therefore, the Labour Party of UK has decided to take certain measures to see more money flowing back to the basic elements of sports by proposing a levy for sportsbetting. Some of the money will also be directed to help battle gambling problems that some players encounter.

The Labour Party believes that this step will help them create a solid foundation for future athletes, as revenues generated by the levy will go to their development.

The Guardian: Labour’s betting levy to be used for grassroots and problem gambling

The Labour Party is in the process of implementing a hefty levy on all bookmakers, as they hope to raise considerable revenue to redistribute throughout different areas in sports. A percentage of the levy revenue will go to problems dealing with gambling addictions and related issues, according to latest gambling news.

Harriet Harman and Clive Efford, shadow culture secretary and shadow sports minister respectively, have both issued a document “sports for all” as part of the levy proposal. Currently the levy is only applicable to horseracing, while around GBP 82 million given back to the racing industry in 2014.

Efford commented, “We believe it is right that businesses that make money from sport should contribute to sport. We are consulting on whether we should introduce a levy on betting, including online betting, to fund gambling awareness and support for problem gambling but also to improve community sports facilities and clubs.”

He also highlighted the importance of having the money returned to the grassroots of different sports, as that would help create the next wave of highly skilled athletes. “It’s my preference that the income from the levy went into a general pool to help grassroots sport and from which the respective sports would draw their future elite sportsmen and women.”

Reuters: UK opposition weighs betting levy to fund grassroots sport

Internet betting and Premier League TV revenue is the main target of the new levy, as the Labour Party is taking steps to see more people become involved in sports. The London Olympics 2012 served a great purpose in promotion people to become more active and partake in sporting recreations.

At the moment the levy is only attributed to horseracing activities, however the Labour Party sees additional potential in the Premier League and sportbetting providers.

Harriet Harman, shadow culture secretary, is certain that charging a new tax levy to the Premier League and betting firms will benefit the overall society. “Our consultation looks at a number of ideas which aim to boost investment in community and grassroots sports by getting tough with the Premier League and betting companies.”

Currently, the TV deals that the Premier League teams have negotiated are worth a staggering GBP 5 billion spread over a three year period. Labour wants more money to be directed to the lower levels of English football, to assist everyone involved.

The proposed levy received criticism from one online sportsbooks, namely Ladbrokes. The director of external relations of the betting giant, Donald McCabe, expressed his viewpoints on the levy matter that is surely going to impact their business.

“As far as we are aware no bookmaker or betting operator ever closed a community sports field or club. So we are not sure why an extra tax is being proposed on an industry already facing two tax increases and which pays out over 65 percent of all its earnings in taxes and levies.”

The Premier League issued a statement whereby they assert that the League already gives out GBP 56 million per season to good causes and grassroots football. They also spread out over GBP 60 million per season to lower tier clubs to help finance their operations.

“We understand that all those interested in the long-term health of English football want to see better grassroots facilities and higher levels of participation, particularly amongst young people. This is why we are committed to continue the unprecedented levels of funding we provide as well as being happy to engage on these matters.”

The Spectator: Labour’s sports betting levy will hit poor punters

A spokesperson from William Hill stated that the firm “welcomed all initiatives” that would benefit sports across all levels, but raised questions regarding the funding scheme. “We don’t believe that problem should be passed on to us,” said the spokesman.

The reasoning behind William Hill’s objections is that the gambling industry already shells out over GBP 1 billion to the UK Treasury. Another GBP 400 million is likely to be raised the following year, after recent new initiatives raised at the last Budget.

When it comes to imposing the new levy to the Premier League, clubs will have to charge more for their services, namely season tickets and similar products. For instance, football team Tottenham Hotspur charges its fans GBP 1,320 for the most expensive season tickets.

Taking into account that Premier League can be considered a “middle class” pursuit, a small hike in prices of season tickets could probably be tolerated by fans. However, the real problem with the proposed levy begs the question who will suffer from it? The middle class will most likely be able to afford the price increase, while another group won’t.

Many punters actively bet on a regular basis, however it is mainly considered to be a norm with the “working class.” The vast majority of people who bet regularly do not have over GBP 1,000 to splash out on a season ticket. So in reality they are the ones that would have to pay for the increase in prices of the new proposed levy.

BBC: Sport betting levy amongst ‘innovative’ Labour sport plans

Shadow culture secretary, Harriet Harman, claimed that the objective to use the 2012 Olympic Games as a tool to achieve higher sports activity within society did not have the effect they initially hoped for. She issued a statement saying that “strong government leadership” was necessary to achieve that goal.

Harman highlighted the negative results by saying, “We were all proud to host the Olympics and Paralympic Games in London two years ago, but instead of seeing increased participation things have got worse, especially among young people, as a result of the government axing school sports partnerships.”

Harman also added that she will look at options of restoring a rule to schools which dictated that students must have at least two hours of sport per week. Gambling news reports this requirement was previously removed by the coalition that made educational reforms.

All of these efforts are part of Labour’s plan titled More Sport for All. Part of the new plan includes setting new target for female participation in sports and also increasing the overall number of women on boards of sporting organizations.

Las Vegas is America’s gambling mecca and one of the few places where casinos and sportsbooks can legally accept wagers on sporting events. Where many people see a saturated market, however, Malaysian businessman Paul Phua Wei-seng saw an opportunity.

Several news sources have reported that the 50-year old man, his 22-year old son and several others set up an illegal betting ring in three hotel rooms at the Caesar’s Palace in Las Vegas. On July 15th Phua and the others were caught and arrested, with the Malaysian’s bail set at a whopping $2 million.

What were they taking bets on? The World Cup 2014 in Brazil. And the series of arrests came just weeks after the authorities in Hong Kong broke up a multi-million World Cup betting ring based there. That ring was run by, guess who? None other than Paul Phua Wei-seng.

Associated Press: Malaysian Businessman Wei Seng Phua Released on $2 million Bond After Illegal Betting Arrest

Malaysian businessman and high-roller poker player Wei Seng Phua was released from jail in the US on July 28th after some fellow poker players posted his $2 million bond as well as the $500,000 set for his son. This is the latest gambling news in a month-long saga concerning the underworld figure.

Poker professionals Andrew Robl and 10-time World Series of Poker Champion Phil Ivey reportedly put together the $2.5 million to bail out the Phuas, which had been arrested (along with eight others) for running an illegal sportsbetting operation out of their Las Vegas hotel room.

U.S. Immigration and Customs Enforcement officials agreed to release him after bail was posted and they reviewed the case, finding that requirements had been met for release.

Daily Telegraph: 8 People Arrested by Federal Officials for Running Illegal Gambling Operation in Vega Hotel

Eight people from Malaysia, China and Hong Kong have been accused of running an illegal betting operation out of three Las Vegas hotel rooms. The group reportedly took millions of dollars in bets on World Cup matches.

The FBI and Nevada Gaming Control Board agents made arrests on July 13th after raiding three suites at the Caesar’s Palace in Las Vegas.

US attorney general Daniel Bogden told reporters that the Phua had opened up shop in Vegas after being arrested on June 18th for running an illegal gambling operation in Hong Kong. After posting bond there he flew to the US.

Casino employees alerted the authorities after growing suspicious about being asked to set up computer equipment in the three hotel rooms. If convicted, Phua and the others could each face up to two years in prison and fines of up to $250,000.

South China Morning Post: Malaysian Businessman Arrested in the US is an Alleged Member of Hong Kong Triads

Online gambling entrepreneur and reported member of the 14k Triads Paul Phua Wei-seng was arrested in Las Vegas on July 13th for running a World Cup betting ring out of a Las Vegas hotel room in violation of American gambling laws. The 50-year old Malaysian was one of eight people arrested, including three from Hong Kong.

Legal documents released by the FBI claimed that Phua is a high ranking member of the 14k Triads, one of Hong Kong’s oldest and most powerful criminal organizations.

He is also one of the key executives of IBCBet, which is arguably the world’s largest sportsbetting operator. A study by the International Centre for Sport Security in Qatar estimated that roughly 80 percent of wagers made on the 2014 World Cup in Brazil were done so illegally.

CBS Las Vegas: Phua Still Not Released from Jail Despite $2 million of Phil Ivey’s Money

Lawyers representing Malaysian businessman Phua Wei-seng demanded that he be released after his $2 million bail was posted by a group of professional poker players, including 100-time World Series of Poker Champion Phil Ivey.

As of July 28th Phua still sat in jail despite his bail being met; authorities had not yet released him due their ongoing review of the case details. Phua lawyer David Chesnoff told the Las Vegas Review-Journal:

Our clients have complied with every condition set by a federal judge for their release…We have repeatedly attempted to contact ICE authorities, who have not responded. We are going to take further legal steps.

Phua and his 22-year old son are among eight people arrested and held for allegedly running a million-dollar illegal betting ring out of Caesar’s Palace in Las Vegas, taking wagers on the 2014 World Cup in Brazil.

South China Morning Post: Arrested Illegal Betting Operator Phua Once Served as Ambassador to Montenegro

Macau gambling kingpin, big-money casino winner and alleged Hong Kong triad leader Paul Phua Wei-seng served as San Marino’s ambassador to Montenegro for three years before being arrested in Las Vegas on July 13th for allegedly running an illegal World Cup betting ring.

The businessman and high-stakes poker player was appointed the diplomatic representative of the tiny European microstate in 2011, obtaining a diplomatic passport which allowed him to move freely throughout most countries around the globe.

Upon his appointment San Marinese foreign minister Antonella Mularoni expressed the idea that Phua could use his connections in the entertainment industry to bring a luxury hotel development project to San Marino.

He is also reported to be a major shareholder in IBCBET, a world-leading online betting operator based in the Philippines. After his arrest authorities in San Marino revoked his status and asked him to return his diplomatic passport.

Las Vegas is America’s gambling mecca and one of the few places where casinos and sportsbooks can legally accept wagers on sporting events. Where many people see a saturated market, however, Malaysian businessman Paul Phua Wei-seng saw an opportunity.

Several news sources have reported that the 50-year old man, his 22-year old son and several others set up an illegal betting ring in three hotel rooms at the Caesar’s Palace in Las Vegas. On July 15th Phua and the others were caught and arrested, with the Malaysian’s bail set at a whopping $2 million.

What were they taking bets on? The World Cup 2014 in Brazil. And the series of arrests came just weeks after the authorities in Hong Kong broke up a multi-million World Cup betting ring based there. That ring was run by, guess who? None other than Paul Phua Wei-seng.

Associated Press: Malaysian Businessman Wei Seng Phua Released on $2 million Bond After Illegal Betting Arrest

Malaysian businessman and high-roller poker player Wei Seng Phua was released from jail in the US on July 28th after some fellow poker players posted his $2 million bond as well as the $500,000 set for his son. This is the latest gambling news in a month-long saga concerning the underworld figure.

Poker professionals Andrew Robl and 10-time World Series of Poker Champion Phil Ivey reportedly put together the $2.5 million to bail out the Phuas, which had been arrested (along with eight others) for running an illegal sportsbetting operation out of their Las Vegas hotel room.

U.S. Immigration and Customs Enforcement officials agreed to release him after bail was posted and they reviewed the case, finding that requirements had been met for release.

Daily Telegraph: 8 People Arrested by Federal Officials for Running Illegal Gambling Operation in Vega Hotel

Eight people from Malaysia, China and Hong Kong have been accused of running an illegal betting operation out of three Las Vegas hotel rooms. The group reportedly took millions of dollars in bets on World Cup matches.

The FBI and Nevada Gaming Control Board agents made arrests on July 13th after raiding three suites at the Caesar’s Palace in Las Vegas.

US attorney general Daniel Bogden told reporters that the Phua had opened up shop in Vegas after being arrested on June 18th for running an illegal gambling operation in Hong Kong. After posting bond there he flew to the US.

Casino employees alerted the authorities after growing suspicious about being asked to set up computer equipment in the three hotel rooms. If convicted, Phua and the others could each face up to two years in prison and fines of up to $250,000.

South China Morning Post: Malaysian Businessman Arrested in the US is an Alleged Member of Hong Kong Triads

Online gambling entrepreneur and reported member of the 14k Triads Paul Phua Wei-seng was arrested in Las Vegas on July 13th for running a World Cup betting ring out of a Las Vegas hotel room in violation of American gambling laws. The 50-year old Malaysian was one of eight people arrested, including three from Hong Kong.

Legal documents released by the FBI claimed that Phua is a high ranking member of the 14k Triads, one of Hong Kong’s oldest and most powerful criminal organizations.

He is also one of the key executives of IBCBet, which is arguably the world’s largest sportsbetting operator. A study by the International Centre for Sport Security in Qatar estimated that roughly 80 percent of wagers made on the 2014 World Cup in Brazil were done so illegally.

CBS Las Vegas: Phua Still Not Released from Jail Despite $2 million of Phil Ivey’s Money

Lawyers representing Malaysian businessman Phua Wei-seng demanded that he be released after his $2 million bail was posted by a group of professional poker players, including 100-time World Series of Poker Champion Phil Ivey.

As of July 28th Phua still sat in jail despite his bail being met; authorities had not yet released him due their ongoing review of the case details. Phua lawyer David Chesnoff told the Las Vegas Review-Journal:

Our clients have complied with every condition set by a federal judge for their release…We have repeatedly attempted to contact ICE authorities, who have not responded. We are going to take further legal steps.

Phua and his 22-year old son are among eight people arrested and held for allegedly running a million-dollar illegal betting ring out of Caesar’s Palace in Las Vegas, taking wagers on the 2014 World Cup in Brazil.

South China Morning Post: Arrested Illegal Betting Operator Phua Once Served as Ambassador to Montenegro

Macau gambling kingpin, big-money casino winner and alleged Hong Kong triad leader Paul Phua Wei-seng served as San Marino’s ambassador to Montenegro for three years before being arrested in Las Vegas on July 13th for allegedly running an illegal World Cup betting ring.

The businessman and high-stakes poker player was appointed the diplomatic representative of the tiny European microstate in 2011, obtaining a diplomatic passport which allowed him to move freely throughout most countries around the globe.

Upon his appointment San Marinese foreign minister Antonella Mularoni expressed the idea that Phua could use his connections in the entertainment industry to bring a luxury hotel development project to San Marino.

He is also reported to be a major shareholder in IBCBET, a world-leading online betting operator based in the Philippines. After his arrest authorities in San Marino revoked his status and asked him to return his diplomatic passport.

USA Today Sports: Vegas says LeBron’s return makes Cavaliers NBA title favorites

Since announcing his return to the Cavaliers, speculators and basketball experts have been throwing around the high possibility of them winning the championship in the following season.

Gambling news reports that a single hour after LeBron made his intentions public, the Ohio based team were ranked as 4/1 favorites for the NBA title. They were ahead of teams like San Antonio Spurs (5/1) and Oklahoma City Thunder (6/1).

Looking back some time before King James returned home, at the beginning of the offseason the Cavs were on the opposite end of the spectrum in term of title success. Bookmakers gave them odds of 60/1 of achieving glory in the 2014-2015 season. However, as speculation about the star player’s return grew over time so did their chances.

Their first improved odds stood at 50/1, and then jumped to 30/1, before eventually leapfrogging to 10/1 earlier in the week. Cavaliers’ odds were fourth best in the league, only behind Oklahoma City, San Antonio and Miami Heat.

Although the possibility of LeBron leaving Miami increased the Cavs’ odds, in the initial stages the South Florida team didn’t experience any changes in terms of their chances of success in the next season. They were hailed as favorite for the next season, although after the news confirmed about LeBron departure, their odds went down substantially.

Heat’s NBA title hopes for the next season stand at around 50/1, which caused many people to liken the sudden turn in championship odds to a Las Vegas stock crash. The Miami team currently has worse odds than New York Knicks, Brooklyn Nets and Toronto Raptors. Heat stands on par with Memphis Grizzlies and New Orleans Pelicans.

Cleveland.com: With LeBron James returning, Cleveland Cavaliers have the best odds of winning NBA title, according to Las Vegas oddsmakers

The Cavaliers went from outsiders to serious contenders for the NBA title in a matter of weeks. Las Vegas bookies believe that the Cavs can make a serious impact in the competition this year, as their star player has returned to his roots giving them a massive boost.

Although San Antonio Spurs have managed to win the NBA this year, their chances of achieving consecutive titles have been trumped with the LeBron returning to the Cavs. The Texas-based team have been assigned odds of 5/1, making them second favorites behind the team that now boasts the league most dominating player.

Betting providers were predicting that there would a significant shift in the future betting preferences on the Cavs, as they were 80/1 outsiders a little over a week ago. Now, they command the greatest odds for the following season. Oklahoma City Thunder (6/1) and Chicago Bulls (7/1) are the other favorites to lift the NBA trophy next year.

Latest gambling news indicated that odds started changing two weeks ago, as more and more news started to circulate about LeBron’s possible move back to the team where he started his illustrious career. MGM Resorts gave the Cavaliers 20/1 odds on Monday morning, but quickly altered their chances all the way down to 8/1 by Wednesday.

nj.com: 2014 NBA Championshi[ Odds: LeBron James makes Cleveland the favorites

The Cleveland Cavaliers went from being one of the least promising teams to number one favorites virtually overnight, according to Las Vegas oddsmakers. The team hailing from Ohio will be severely tested once the season commences, as the public will then be able to judge if King James can carry the team on his own.

Despite having one of the most talented players of all time in their ranks, the Cavs are nevertheless outsiders for the title next season, as LeBron believes there is much to improve with the squad. He assured the fans that he will try his best, but currently does not have high hopes for title success.

“I’m not promising a championship. I know how hard that is to deliver. We’re not ready right now. No way. Of course, I want to win next year, but I’m realistic. It will be a long process, much longer than it was in 2010. My patience will get tested. I know that.”

He also added that he is looking forward in helping mound the team that could possibly have the capability to win the trophy that has long eluded them. “I’m going into a situation with a young team and a new coach. I will be the old head. But I get a thrill out of bringing a group together and helping them reach a place they didn’t know they could go.”

International Business Times: NBA Betting Odds: Cleveland Cavs Favored To Win 2014-2015 Championship With LeBron

The 2014-2015 season is looking to be an exciting one for the NBA, and especially for Cavaliers fans. With LeBron back to his old town, he will be tasked with shouldering the responsibility and leading a team to NBA glory. Luckily, Las Vegas sportsbooks have expressed support for their ambitions as they favor the Cavs to win the championship.

Although the Cleveland team ranked poorly in terms of their chances of success, many bookmakers immediately changed their odds once LeBron announced his intention to return. Betting providers believe James has the ability to transform a team that managed to record merely 33 wins throughout the whole 2013-2014 season.

When LeBron decided to switch teams in 2010 in search of major titles, the Cavaliers endured a horrible spell without him during the past four years. According to sports scores news, in the first season without their star man Cavs could barely manage to win 19 games. The next three years after that, they achieved only 78 win and not a single playoff appearance.

However, now the future seems far brighter for them than before. Although LeBron’s presence alone can inspire the team to success, the Cavs have assembled a solid team that can challenge for the NBA title.

The Ohio-based team have drafted a talented point guard Kyrie Irving on a five-year deal, following his success last season with 20.8 points and 6.1 assists. Additionally, they also had the first overall pick drafting Andrew Wiggins in June, while also adding Anthony Bennett in the 2013 draft.

Without LeBron, Miami’s chances of reaching the finals in the next season are limited. Las Vegas Bookies have given Miami odds of 50/1, considering that Chris Bosh is also likely to leave imminently for Houston Rockets on a max contract.

USA Today Sports: Vegas says LeBron’s return makes Cavaliers NBA title favorites

Since announcing his return to the Cavaliers, speculators and basketball experts have been throwing around the high possibility of them winning the championship in the following season.

Gambling news reports that a single hour after LeBron made his intentions public, the Ohio based team were ranked as 4/1 favorites for the NBA title. They were ahead of teams like San Antonio Spurs (5/1) and Oklahoma City Thunder (6/1).

Looking back some time before King James returned home, at the beginning of the offseason the Cavs were on the opposite end of the spectrum in term of title success. Bookmakers gave them odds of 60/1 of achieving glory in the 2014-2015 season. However, as speculation about the star player’s return grew over time so did their chances.

Their first improved odds stood at 50/1, and then jumped to 30/1, before eventually leapfrogging to 10/1 earlier in the week. Cavaliers’ odds were fourth best in the league, only behind Oklahoma City, San Antonio and Miami Heat.

Although the possibility of LeBron leaving Miami increased the Cavs’ odds, in the initial stages the South Florida team didn’t experience any changes in terms of their chances of success in the next season. They were hailed as favorite for the next season, although after the news confirmed about LeBron departure, their odds went down substantially.

Heat’s NBA title hopes for the next season stand at around 50/1, which caused many people to liken the sudden turn in championship odds to a Las Vegas stock crash. The Miami team currently has worse odds than New York Knicks, Brooklyn Nets and Toronto Raptors. Heat stands on par with Memphis Grizzlies and New Orleans Pelicans.

Cleveland.com: With LeBron James returning, Cleveland Cavaliers have the best odds of winning NBA title, according to Las Vegas oddsmakers

The Cavaliers went from outsiders to serious contenders for the NBA title in a matter of weeks. Las Vegas bookies believe that the Cavs can make a serious impact in the competition this year, as their star player has returned to his roots giving them a massive boost.

Although San Antonio Spurs have managed to win the NBA this year, their chances of achieving consecutive titles have been trumped with the LeBron returning to the Cavs. The Texas-based team have been assigned odds of 5/1, making them second favorites behind the team that now boasts the league most dominating player.

Betting providers were predicting that there would a significant shift in the future betting preferences on the Cavs, as they were 80/1 outsiders a little over a week ago. Now, they command the greatest odds for the following season. Oklahoma City Thunder (6/1) and Chicago Bulls (7/1) are the other favorites to lift the NBA trophy next year.

Latest gambling news indicated that odds started changing two weeks ago, as more and more news started to circulate about LeBron’s possible move back to the team where he started his illustrious career. MGM Resorts gave the Cavaliers 20/1 odds on Monday morning, but quickly altered their chances all the way down to 8/1 by Wednesday.

nj.com: 2014 NBA Championshi[ Odds: LeBron James makes Cleveland the favorites

The Cleveland Cavaliers went from being one of the least promising teams to number one favorites virtually overnight, according to Las Vegas oddsmakers. The team hailing from Ohio will be severely tested once the season commences, as the public will then be able to judge if King James can carry the team on his own.

Despite having one of the most talented players of all time in their ranks, the Cavs are nevertheless outsiders for the title next season, as LeBron believes there is much to improve with the squad. He assured the fans that he will try his best, but currently does not have high hopes for title success.

“I’m not promising a championship. I know how hard that is to deliver. We’re not ready right now. No way. Of course, I want to win next year, but I’m realistic. It will be a long process, much longer than it was in 2010. My patience will get tested. I know that.”

He also added that he is looking forward in helping mound the team that could possibly have the capability to win the trophy that has long eluded them. “I’m going into a situation with a young team and a new coach. I will be the old head. But I get a thrill out of bringing a group together and helping them reach a place they didn’t know they could go.”

International Business Times: NBA Betting Odds: Cleveland Cavs Favored To Win 2014-2015 Championship With LeBron

The 2014-2015 season is looking to be an exciting one for the NBA, and especially for Cavaliers fans. With LeBron back to his old town, he will be tasked with shouldering the responsibility and leading a team to NBA glory. Luckily, Las Vegas sportsbooks have expressed support for their ambitions as they favor the Cavs to win the championship.

Although the Cleveland team ranked poorly in terms of their chances of success, many bookmakers immediately changed their odds once LeBron announced his intention to return. Betting providers believe James has the ability to transform a team that managed to record merely 33 wins throughout the whole 2013-2014 season.

When LeBron decided to switch teams in 2010 in search of major titles, the Cavaliers endured a horrible spell without him during the past four years. According to sports scores news, in the first season without their star man Cavs could barely manage to win 19 games. The next three years after that, they achieved only 78 win and not a single playoff appearance.

However, now the future seems far brighter for them than before. Although LeBron’s presence alone can inspire the team to success, the Cavs have assembled a solid team that can challenge for the NBA title.

The Ohio-based team have drafted a talented point guard Kyrie Irving on a five-year deal, following his success last season with 20.8 points and 6.1 assists. Additionally, they also had the first overall pick drafting Andrew Wiggins in June, while also adding Anthony Bennett in the 2013 draft.

Without LeBron, Miami’s chances of reaching the finals in the next season are limited. Las Vegas Bookies have given Miami odds of 50/1, considering that Chris Bosh is also likely to leave imminently for Houston Rockets on a max contract.

Despite the fact that both FIFA and gambling authorities across the world warned that they would intensify efforts to combat betting corruption, illegal wagers on World Cup sports scores proved to be too tempting for leaders of underground gambling rings.

The football event of the year has barely started, but the police in Macau already arrested a few punters from Hong Kong after evidence suggested they had placed HK $5 billion in illegal bets, including one staggering wager worth HK $40 million on a single match.

The illegal gambling operation was run from a hotel in Macau, which was raided by the local police. Officers found and removed betting slips and accounts, as well as more than HK $2 million in cash, 17 computers and 10 mobile phones.

Since the beginning of the 2014 World Cup in Brazil, Hong Kong police officers have also arrested 39 people suspected of unlawful gambling. HK $85 million worth of betting slips were confiscated from the illegal bookmakers.

South China Morning Post: Macau police smash illegal betting ring that took HK$5b in World Cup wagers

The Macau police busted a huge bookmaking operation. It is said that the illegal betting ring took a total of HK $5 billion in World Cup wagers, from rich clients around the world. Punters placed their bets on live sports results via telephone or online.

A raid on a local hotel found that three rooms had been turned into an operation base for the illegal betting syndicate. According to the latest gambling news, 22 people (including two women) aged 23 to 50 were arrested. Among them were four men from Hong Kong, nine Malaysians and nine mainlanders. The ring was lead by two men, one from Malaysia and one from the mainland.

One day later, the police conducted a second raid and arrested four new suspects at the same hotel. Officers are now conducting further investigations to find out who was placing the bets.

Suen Kam-fai, a spokesman for the local police, told reporters: “Information indicates that this syndicate accepted bets before and after the matches kicked off. That’s why they needed a lot of manpower to take bets via the internet and telephone.”

CNN: Macau busts $645 million World Cup betting ring

Police have smashed a gambling ring operating from a hotel located in Macau. The illegal betting syndicate allegedly took the equivalent of US $645 million in World Cup wagers. According to local authorities, this was the biggest ever raid on an unlawful bookmaking racket in the Asian casino capital.

Working from three hotel rooms, the suspects took internet and phone bets from around the world. Authorities discovered that one gambler placed a wager valued at around US $5 million.

The police arrested 22 people from mainland China, Hong Kong and Malaysia, including two suspects believed to be the ringleaders. They also confiscated US $248,000 in cash, 17 computers, at least 10 cell phones and several betting slips.

A few hours later, the police busted a second gambling operating from the same hotel. Four Chinese men allegedly took US$645,000 in illegal bets on World Cup matches in one day.

The raids were part of a cross-border campaign to combat illegal sports betting in Macau, Hong Kong and the southern province of Guangdong, China.

The Guardian: Police bust gambling racket in Macau after huge World Cup bets

A bookmaking racket that allegedly took HK $5 billion ($645 million, or GBP 379 million) in illegal bets was recently uncovered by the police in Macau. The illicit football syndicate operated from a local hotel and allowed punters from all over the world to place World Cup wagers online and via telephone, the South China Morning Post said.

Police have arrested 22 suspects in what is thought to be the biggest unlawful football betting operation in Macau, as initial investigations found evidence of HK $5 billion worth of World Cup wagers, including a single HK$40 million bet on one match.

Since the beginning of the 2014 World Cup, authorities in Macau, Hong Kong and the Guangdong province have been working together in a campaign to put an end to illegal gambling operations. Investigators seized more than HK $2 million in cash, 17 computers, more than 10 mobile phones and betting slips.

During the first week of the World Cup, authorities in the area have arrested 39 people suspected of being involved in illegal betting operations and confiscated HK $85 million worth of betting slips.

Despite the fact that both FIFA and gambling authorities across the world warned that they would intensify efforts to combat betting corruption, illegal wagers on World Cup sports scores proved to be too tempting for leaders of underground gambling rings.

The football event of the year has barely started, but the police in Macau already arrested a few punters from Hong Kong after evidence suggested they had placed HK $5 billion in illegal bets, including one staggering wager worth HK $40 million on a single match.

The illegal gambling operation was run from a hotel in Macau, which was raided by the local police. Officers found and removed betting slips and accounts, as well as more than HK $2 million in cash, 17 computers and 10 mobile phones.

Since the beginning of the 2014 World Cup in Brazil, Hong Kong police officers have also arrested 39 people suspected of unlawful gambling. HK $85 million worth of betting slips were confiscated from the illegal bookmakers.

South China Morning Post: Macau police smash illegal betting ring that took HK$5b in World Cup wagers

The Macau police busted a huge bookmaking operation. It is said that the illegal betting ring took a total of HK $5 billion in World Cup wagers, from rich clients around the world. Punters placed their bets on live sports results via telephone or online.

A raid on a local hotel found that three rooms had been turned into an operation base for the illegal betting syndicate. According to the latest gambling news, 22 people (including two women) aged 23 to 50 were arrested. Among them were four men from Hong Kong, nine Malaysians and nine mainlanders. The ring was lead by two men, one from Malaysia and one from the mainland.

One day later, the police conducted a second raid and arrested four new suspects at the same hotel. Officers are now conducting further investigations to find out who was placing the bets.

Suen Kam-fai, a spokesman for the local police, told reporters: “Information indicates that this syndicate accepted bets before and after the matches kicked off. That’s why they needed a lot of manpower to take bets via the internet and telephone.”

CNN: Macau busts $645 million World Cup betting ring

Police have smashed a gambling ring operating from a hotel located in Macau. The illegal betting syndicate allegedly took the equivalent of US $645 million in World Cup wagers. According to local authorities, this was the biggest ever raid on an unlawful bookmaking racket in the Asian casino capital.

Working from three hotel rooms, the suspects took internet and phone bets from around the world. Authorities discovered that one gambler placed a wager valued at around US $5 million.

The police arrested 22 people from mainland China, Hong Kong and Malaysia, including two suspects believed to be the ringleaders. They also confiscated US $248,000 in cash, 17 computers, at least 10 cell phones and several betting slips.

A few hours later, the police busted a second gambling operating from the same hotel. Four Chinese men allegedly took US$645,000 in illegal bets on World Cup matches in one day.

The raids were part of a cross-border campaign to combat illegal sports betting in Macau, Hong Kong and the southern province of Guangdong, China.

The Guardian: Police bust gambling racket in Macau after huge World Cup bets

A bookmaking racket that allegedly took HK $5 billion ($645 million, or GBP 379 million) in illegal bets was recently uncovered by the police in Macau. The illicit football syndicate operated from a local hotel and allowed punters from all over the world to place World Cup wagers online and via telephone, the South China Morning Post said.

Police have arrested 22 suspects in what is thought to be the biggest unlawful football betting operation in Macau, as initial investigations found evidence of HK $5 billion worth of World Cup wagers, including a single HK$40 million bet on one match.

Since the beginning of the 2014 World Cup, authorities in Macau, Hong Kong and the Guangdong province have been working together in a campaign to put an end to illegal gambling operations. Investigators seized more than HK $2 million in cash, 17 computers, more than 10 mobile phones and betting slips.

During the first week of the World Cup, authorities in the area have arrested 39 people suspected of being involved in illegal betting operations and confiscated HK $85 million worth of betting slips.

New Jersey has once again been dealt a blow as the Supreme Court reached a verdict to keep the ban sport gambling in the Eastern state. There have been numerous attempts to revert the bill prohibiting bets on sports, however all have been futile so far.

Nevertheless, there is still hope. Important statesmen from New Jersey remain confident in their battle, as a new bill that is due to be published bears a more promising effect than previous attempts.

Bloomberg: New Jersey Sports Betting Bid rejected by Supreme Court

Latest gambling news states that New Jersey’s quest to legalize sports gambling has been dampened. Despite tabling an appeal, Governor Chris Christie was not able sway the US Supreme Court. The Court claimed that New Jersey sports gambling pursuit came in conflict with a 1992 federal law that was passed to prevent the expansion of state-lead sports betting.

New Jersey aimed to make betting on professional and college sports legal, by offering to provide the services through the state’s racetracks and Atlantic City casinos. It is evident why prominent officials from the state supported the proposed change. Estimates show that the business would generate over $1 billion in bets and more than $100 million for the state.

White House representatives contested the action pointing to the National Collegiate Athletic Association, National Basketball Association, National Hockey League, National Football League and Major League Baseball.

They indicated that the 1992 Professional and Amateur Sports Protection Act allows sports gambling only in Nevada, while Delaware maintains a sports betting to lesser degree. Governor Christie highlighted that the federal law does not enable New Jersey to exercise its sovereign rights. Virtually all New Jersey residents voted in favor of sports betting in 2011.

NorthJersey: N.J. officials vow to change state law to permit sports betting

So far the state has spent over $3 million in research and legal expenses to see sports betting become a reality, however nothing has come to fruition due to the Supreme Court’s rejection. The overall process lasted for two years and saw the state lose on two occasions.

A US District Court judge supported the views of the NFL and four other sports organizations, and decided not to reverse the original ban. Governor Christie expressed his disappointed and acknowledged that New Jersey’s chances were slim. “They don’t give an explanation, so there is nothing to really react to. They said no, so we have to move on.”

Sports scores news reports that some other state officials remain adamant in legalizing sport gambling in New Jersey. Senate President Stephen Sweeney stated, “We are not giving up. The economic impact that sports wagering can have on New Jersey is far too important to simply shrug our shoulders and move on.”

Many like-minded people believe that this has the potential to help New Jersey’s fading horseracing and Atlantic City gambling industry. Sports betting would help the ailing economy in many terms and raise millions of dollars in taxes for the treasury.

CBS New York: Supreme Court Leaves In Place a Ban on Sports Betting in NJ

Despite recently losing a legal battle against the Supreme Court to legalize sports gambling, a New Jersey official brought up the idea of a revised bill that would see them achieve their goal.

New Jersey lawmakers submitted a case arguing that illegal betting on sports is valued at over $500 billion per year. Overturning the gambling law would create an opposite effect and lead to better standards. Legalization would see illegal gambling activities subsided, while in the same time generate income for the government and create employment opportunities.

The revised bill should see New Jersey challenge the law prohibiting them from offering sports betting services to players.

State Senator Raymond Lesniak hopes that US Department of Justice will not fight their reinvigorated attempts. “Aren’t they selling marijuana in Colorado and Washington? Isn’t that against federal law? Nothing stops is from repealing all our gambling laws on sports betting as long as we don’t regulate it, as long as we don’t promote it.”

Unlike other officials who seem to have given up on hopes to legalize sports betting, Lesniak is determined to succeed. He stated that is the Supreme Court does not accept the new case, then he would proceed with plans to offer sports gambling as soon as Week 1 of the NFL season. “I’m not saying “one day.” I’m saying September. ”

New Jersey has once again been dealt a blow as the Supreme Court reached a verdict to keep the ban sport gambling in the Eastern state. There have been numerous attempts to revert the bill prohibiting bets on sports, however all have been futile so far.

Nevertheless, there is still hope. Important statesmen from New Jersey remain confident in their battle, as a new bill that is due to be published bears a more promising effect than previous attempts.

Bloomberg: New Jersey Sports Betting Bid rejected by Supreme Court

Latest gambling news states that New Jersey’s quest to legalize sports gambling has been dampened. Despite tabling an appeal, Governor Chris Christie was not able sway the US Supreme Court. The Court claimed that New Jersey sports gambling pursuit came in conflict with a 1992 federal law that was passed to prevent the expansion of state-lead sports betting.

New Jersey aimed to make betting on professional and college sports legal, by offering to provide the services through the state’s racetracks and Atlantic City casinos. It is evident why prominent officials from the state supported the proposed change. Estimates show that the business would generate over $1 billion in bets and more than $100 million for the state.

White House representatives contested the action pointing to the National Collegiate Athletic Association, National Basketball Association, National Hockey League, National Football League and Major League Baseball.

They indicated that the 1992 Professional and Amateur Sports Protection Act allows sports gambling only in Nevada, while Delaware maintains a sports betting to lesser degree. Governor Christie highlighted that the federal law does not enable New Jersey to exercise its sovereign rights. Virtually all New Jersey residents voted in favor of sports betting in 2011.

NorthJersey: N.J. officials vow to change state law to permit sports betting

So far the state has spent over $3 million in research and legal expenses to see sports betting become a reality, however nothing has come to fruition due to the Supreme Court’s rejection. The overall process lasted for two years and saw the state lose on two occasions.

A US District Court judge supported the views of the NFL and four other sports organizations, and decided not to reverse the original ban. Governor Christie expressed his disappointed and acknowledged that New Jersey’s chances were slim. “They don’t give an explanation, so there is nothing to really react to. They said no, so we have to move on.”

Sports scores news reports that some other state officials remain adamant in legalizing sport gambling in New Jersey. Senate President Stephen Sweeney stated, “We are not giving up. The economic impact that sports wagering can have on New Jersey is far too important to simply shrug our shoulders and move on.”

Many like-minded people believe that this has the potential to help New Jersey’s fading horseracing and Atlantic City gambling industry. Sports betting would help the ailing economy in many terms and raise millions of dollars in taxes for the treasury.

CBS New York: Supreme Court Leaves In Place a Ban on Sports Betting in NJ

Despite recently losing a legal battle against the Supreme Court to legalize sports gambling, a New Jersey official brought up the idea of a revised bill that would see them achieve their goal.

New Jersey lawmakers submitted a case arguing that illegal betting on sports is valued at over $500 billion per year. Overturning the gambling law would create an opposite effect and lead to better standards. Legalization would see illegal gambling activities subsided, while in the same time generate income for the government and create employment opportunities.

The revised bill should see New Jersey challenge the law prohibiting them from offering sports betting services to players.

State Senator Raymond Lesniak hopes that US Department of Justice will not fight their reinvigorated attempts. “Aren’t they selling marijuana in Colorado and Washington? Isn’t that against federal law? Nothing stops is from repealing all our gambling laws on sports betting as long as we don’t regulate it, as long as we don’t promote it.”

Unlike other officials who seem to have given up on hopes to legalize sports betting, Lesniak is determined to succeed. He stated that is the Supreme Court does not accept the new case, then he would proceed with plans to offer sports gambling as soon as Week 1 of the NFL season. “I’m not saying “one day.” I’m saying September. ”