The agency is engaged in a court battle with New York-based startup Kalshi, which offers election betting via event contracts, a type of derivative that allows users to speculate on the “yes or no” outcome of a specific event.

But what has all of this to do with Mitt Romney?

Rogue Trader

In the leadup to the 2012 election, an unknown trader plunked down millions on Romney on online trading exchange Intrade, which also offered events contracts on the election, and which has since been closed down by the CFTC.

This trader accounted for more than one-third of all bets placed on Romney to win, and about one-fifth of all bets placed on Obama to lose.

These positions were accumulated by placing large bids for Romney and large offers for Obama that effectively created a firewall, preventing prices from moving in response to incoming information,” according to a 2015 academic paper examining the incident.

The paper’s authors concluded that financial gain seemed to be an unlikely motivation for the trader. More plausibly, it was an attempt to “manipulate beliefs about the odds of victory in an attempt to boost fundraising, campaign morale, and turnout,” they suggested.

Kid Rock Hoax

In a filing Monday, the CFTC warned that election “manipulation has happened and is likely to recur.” The agency also cited a fake poll published in 2017 by the apparently fake organization, Delphi Analytica, that suggested musician Kid Rock was leading the US Senate race in Michigan.

“The district court’s order has been construed by Kalshi and others as open season for election gambling,” warned the CFTC. “An explosion in election gambling on US futures exchanges will harm the public interest.”

The post $7M Mitt Romney Bet Highlights Dangers of US Election Wagers, CFTC Warns appeared first on Casino.org.

The Malaysian Islamic Party (Parti Islam SeMalaysia – PAS) already controls four of Malaysia’s 13 states, and since the 2022 elections, holds 43 of the 222 seats in the federal parliament, the most of any individual party.

PAS’ ultimate goal is to replace Malaysia’s democratic system with Shariah law.

Anything that can harm society, we must together support its destruction,” said Andansura Rabu, PAS’ deputy commissioner for Pahang, at the party’s annual gathering over the weekend, as reported by The Straits Times. “This isn’t a matter of religion, it’s a social issue.”

“Gambling is harmful, so we have to close it,” he added. “But it must be in accordance with the laws and Constitution.

Complex System

Malaysia is an ethnically diverse country with a complex political system consisting of a federal constitutional elective monarchy comprising 13 states and three federal territories.

PAS’ electoral base is centered around the conservative northeastern and northwestern rural and coastal areas of Peninsula Malaysia, which is the lower half of the country’s western peninsula. Peninsula Malaysia contains 11 of the 13 states and includes the federal capital, Kuala Lumpur.

Genting Highlands, a hilltop location on the peak of Mount Ulu Kali in the Titiwangsa Mountains, is situated at the southwest tip of Pahang. It was chosen as a resort destination for its proximity to Kuala Lumpur, which is an hour’s drive away.

However, even if PAS were to win control of Pahang in the next general election, which must be held before 2028, it wouldn’t necessarily be able to shutter the casino at Resorts World. That’s because casino and gaming permits are decided upon by the federal government.

Green Wave

Genting shares plunged in the aftermath of the 2022 election when PAS shocked Malaysia’s establishment by winning the most seats, a political phenomenon known as “the Green Wave” for the party’s colors.

Resorts World Genting is a vast entertainment complex that contributes more than US$1 billion annually to Malaysia’s economy.

The post Resorts World Genting Threatened With Shutdown by Malaysia Islamic Party appeared first on Casino.org.

Swift’s legions of so-called “Swifties” reportedly heeded her call to get out the vote for Harris. Vote.gov, the federal government’s official voter registration website, saw a surge in visitors in the immediate hours after Swift told her 574 million social media followers that she would be voting blue on November 5.

According to Tom Bonier, a senior advisor at TargetSmart, a campaign consultancy in Washington, DC, Vote.org has experienced a 400% to 500% increase in voter registration.

It’s really unlike anything I’ve ever seen. We’re calling it the ‘Swift Effect,'” Bonier told CBS News.

“Usually, you’ll see these increases and they kind of fade away, but in this case, we’ve seen it continue through the last two days,” Bonier continued. “We’re talking about nine to 10K people per hour [visiting Vote.org].”

Harris remains the 2024 betting front-runner with her implied odds hovering around 50-56%.

Will They Vote??

The Vote.org traffic came not only after Swift endorsed Harris, but also after the vice president and former President Donald Trump participated in their first — and likely only — debate. The rush of traffic to Vote.org could also include undecided voters who settled on who they’ll vote for after the more than 90-minute discourse. ?

With Harris overwhelmingly being deemed the winner of the debate, paired with Swift’s endorsement, the odds are likely good that the bulk of the Voter.org traffic is from new voters who wish to cast a ballot for the Democratic presidential candidate. Bonier says historical data shows that people who register to vote so close to Election Day turn out and vote.

“Dating back to 2020, people who registered this close to the election, over 80% of those new registrants actually turned out,” Bonier revealed. “So, it’s safe to say that not only are these voters registering but it’s likely that they’re going to come out.”

Trump went on to say he’s a fan of Brittany Mahomes, whose husband is Kansas City Chiefs QB Patrick Mahomes. Mahomes recently spoke publicly in support of Trump. Swift is dating Chiefs tight end Travis Kelce.

Previous Turnout?

The 2020 election saw a record number of votes cast to install Joe Biden as the 46th president. More than 158.4 million votes were counted, a 16% increase from the earlier record set in 2016 when Trump and Hillary Clinton fielded nearly 136.7 million votes.

2016 topped the previous record of 131.4 million votes in 2008 when Barack Obama was elected to his first term.

At political wagering exchange Smarkets, Trump’s implied odds of winning in November have dropped below 47%.

The post Taylor Swift Endorsement of VP Kamala Harris Delivers ‘Swift Effect’ appeared first on Casino.org.

None other than Las Vegas legend Frank Sinatra announced multiple endorsements of Ronald Reagan throughout the 20^th century, including during Reagan’s campaign for governor of California and later, during his run for the US presidency.

Ten years later, Sinatra and fellow Las Vegas headliner Dean Martin were at Reagan’s side when he officially announced his presidential run.

Other Celebrity Endorsements

While some believe he was an official supporter of the 37th president, it’s misleading to say Las Vegas legend Elvis Presley ever endorsed President Richard Nixon.

The myth started after Elvis posed with Nixon for a photo during a White House visit in 1970. He asked the president for a meeting and requested a badge to be a federal agent.

“Taylor Swift’s post-debate endorsement of Harris … will certainly move the needle given her influence/fan base. Indeed, I do not think it is an overstatement to say that Swift’s endorsement is the most consequential celebrity endorsement in political history,” Robert Jarvis, a professor at the Nova Southeastern University Shepard Broad Law Center and gambling law expert, told Casino.org

Swift’s Support

Shortly after Tuesday’s debate, Swift announced in her online post, “I will be casting my vote for Kamala Harris and Tim Walz in the 2024 Presidential Election.”

I’m voting for @kamalaharris because she fights for the rights and causes I believe need a warrior to champion them. I think she is a steady-handed, gifted leader and I believe we can accomplish so much more in this country if we are led by calm and not chaos. I was so heartened and impressed by her selection of running mate @timwalz …”

It was also revealed on Thursday that Americans won’t see another debate between Trump and Harris. Harris’ campaign wants one, but Trump said no.

Trump said he won this week’s debate though many observers said Harris was the victor. Trump and his supporters also bashed the ABC news anchors who moderated the debate for allegedly being biased in favor of Harris.

The post Taylor Swift Endorsement of Harris is Historic, but Sinatra Recalled for Backing Reagan appeared first on Casino.org.

District Court Judge Jia Cobb recently ruled in favor of Kalashi, which the Commodity Futures Trading Commission (CFTC) previously blocked from offering election markets. The CFTC regulates the company and others like it. Kalashi sued the commission in 2023, arguing it overreached when it barred the exchange from offering cash-settled election outcome contracts. Last than two months before the 2024 presidential and congressional elections, Cobbs ruling was released. In it, the judge pointed out that the contracts offered by Kalashi are neither gaming nor an illegal act.

This case is not about whether the Court likes Kalshi’s product or thinks trading it is a good idea,” Cobb stated in her opinion. “The Court’s only task is to determine what Congress did, not what it could do or should do. And Congress did not authorize the CFTC to conduct the public interest review it conducted here.”

Soon after Cobb’s ruling, two election-related? betting markets went live on Kalashi — one each on whether Democrats or Republicans will have control of the House and Senate after the Nov. 5 elections.

Interactive Brokers Election Betting Access Could Be Boon for Bettors

To date, betting in the traditional sense on US elections has been illegal in this country, but some companies have been able to get into the election game by doing things differently. For example, Polymarket has seen a surge in interest, helped in large part by the 2024 election, by allowing clients to purchase shares in an event and because the shares are an asset, the asset does not constitute a bet.

For bettors and market participants that want to invest in the 2024 election, the access provided Interactive Brokers could prove crucial. The company runs the largest electronic trading platform in the US, procession more than three million trades per day and is regulated. Interactive Brokers has more than 1.7 million client accounts, indicating there could be significant profit potential in allowing clients to wager on elections.

The demand is there. As of early August, data indicated more than $1 billion had been wagered on the US presidential race in gray market venues such as PredictIt and Smarkets.

Interactive Brokers Has Relevant Experience

Interactive Brokers has experience in finance-related event contracts. It recently launched its ForecastEx platform, which allows bets on economic data such as consumer sentiment, inflation, and the monthly jobs reports.

Other financial services firms are getting into the game, too. Earlier this year, trading house Susquehanna International Group commenced making markets on Kalashi relating to the Federal Reserve’s plans for interest rates and movie reviews.

Still, some groups believe election betting isn’t appropriate and could weaken democracy.

“Democracy in America is at a fragile crossroads, with more Americans questioning the integrity of elections than ever before” said Cantrell Dumas, director of derivatives policy at Better Markets, in a statement. “The shocking attack on the Capitol on January 6, 2021, is just one glaring example, but across the country, less visible incidents continue to chip away at the public’s confidence in our elections and democracy itself. In this shaky political moment, the last thing our country needs is for democracy to be undermined further by allowing gambling on elections.”

The post Interactive Brokers to Debut Election Betting as Kalshi Scores Legal Win appeared first on Casino.org.

Soon after Cole County Circuit Court Judge Daniel Green rejected the lawsuit challenging the referendum led by a political action committee called Winning for Missouri Education, a group emerged that says it will work to convince Missourians to vote against Amendment 2. The committee — Missourians Against the Deceptive Online Gambling Amendment — says from now until November 5, the group will campaign against the sports betting question.

This deceptive measure was written by and for the financial benefit of its out-of-state corporate sponsors and funders,” said Missourians Against the Deceptive Online Gambling Amendment spokesperson Brooke Foster. “We are building a broad coalition and are prepared to wage a vigorous campaign to educate voters across the state and ensure the measure is defeated. It’s a bad deal for Missouri.”

Amendment 2 would allow casinos to operate an in-person sportsbook and an online book. The referendum would also provide professional sports stadiums with retail and online sports betting privileges, and allow two online sportsbooks to be approved without being tethered to a casino or sports venue.?

Sports Betting Ad Debuts

While Missourians Against the Deceptive Online Gambling Amendment is just getting up and running, the pro-sports betting lobby has already raised more than $6.5 million and produced its first advertisement.

Winning for Missouri Education has the financial support of Missouri’s professional sports franchises, including the NFL’s Kansas City Chiefs, MLB’s Kansas City Royals, MLB’s St. Louis Cardinals, and the NHL’s St. Louis Blues. The political campaign is also heavily funded by sports betting market leaders DraftKings and FanDuel.

This week, the campaign debuted its first 30-second commercial in support of legal sports gambling. The strategy is apparently to hype the educational benefits that regulated sportsbooks would bring the Show-Me State.

The referendum would constitutionally mandate that the first $5 million or 10%, whichever is greater, in tax proceeds go toward combatting problem gambling. The remaining benefit would go to support K-12 public education. ??

What Sports Betting Would Look Like in Missouri?

If a simple majority of voters back Amendment 2, each sportsbook’s gross revenue would be subject to a 10% tax. Retail licenses would cost $250K every five years. Mobile permits would cost $500K every five years.

State fiscal projections estimate that Missouri could receive nearly $29 million a year from regulated sports gambling, but the final benefit would depend largely on how many incentives the books issue. Sportsbooks have traditionally marketed heavily in newly launched sports betting states with an array of promotions geared toward signing up players.

The post Missouri Sports Betting Campaigns Begin Rallying Troops appeared first on Casino.org.

Polymarket, a decentralized wagering exchange that facilitates the buying and selling of shares of political outcomes, had Trump as the 2024 favorite before the debate. His stock was trading around 52 cents to Harris at 46 cents. Things have since changed.

Harris was poised on Tuesday night at the National Constitution Center in Philadelphia and spoke directly to the people. She baited her opponent into discussing the past, as the billionaire became visibly upset at times trying to defend his record and expose her and President Joe Biden’s.

Whatever prep the former casino billionaire did was a bust in the eyes of political bettors, who quickly moved their election positions to Harris.

Harris, Trump Neck and Neck

Trump has largely been the 2024 betting front-runner since his June debate with Biden, which led to the president announcing he wouldn’t seek a second term. Harris was the party’s hand-picked replacement, and so far, it’s a bet that’s paying off.

As Trump doubled down on his belief that the 2020 election was rigged and he was the rightful winner, the 2024 Polymarket contest moved in Harris’ favor. Another political wagering exchange, Betfair, reported a similar movement.

UK sportsbooks, where political betting is allowed, also shortened Harris’ line while lengthening Trump’s. William Hill now has Harris at 4/5 (-125), or implied odds of 55.56%. Trump is at 10/11 (-110), or an implied chance of 52.38%.

Before the debate, Trump was favored at -125 and Harris was the underdog at +110.

Do Debates Matter?

While most everyone in the US is very familiar with Trump, Tuesday’s debate gave Harris her first major chance to resonate with the American people after avoiding most media interview requests and shying away from the limelight over the past three and a half years as second in command to the commander-in-chief.

Odds, and presumably next week’s polls, will show a shift in Harris’ favor, but voters will have the final say on November 5.

The post Kamala Harris’ Odds Improve After 2024 Debate Against Donald Trump appeared first on Casino.org.

During a tearful press conference in Seoul on Wednesday, former Chinese Super League player Son Jun-ho described how he was detained by Chinese authorities in May 2023 as he tried to leave the country. The defensive midfielder, who played three of South Korea’s four matches at the 2022 World Cup in Qatar, wasn’t able to return to his home country until March of this year.

Son was held on “suspicion of accepting bribes by non-state employees” and claimed he was coerced into making a confession.

Threats to Family

“The Chinese police presented ridiculous charges,” he said, as reported and translated by the Associated French Press. “They threatened that if I didn’t admit to the charges, my wife would be arrested through the foreign ministry and brought to the same detention center to be investigated with me.”

Son claims he wasn’t given access to Korean translators or a lawyer and was told that if he admitted guilt, he would be released quickly and reunited with his family.

Overwhelmed with fear and concern for my family, I had no choice but to admit to charges I didn’t even understand, just to return to my family quickly,” Son said, wiping away tears.

He called for Chinese authorities to release audio tapes of the interviews, which he says would prove the confession was coerced.

Scapegoating Fears

Chinese authorities have blamed widespread corruption in soccer for the country’s failure to make its mark on the world stage.

In 2015, President Xi Jinping stated his ambition to revive the fortunes of the men’s national team, which hadn’t qualified for a World Cup since 2002. But despite the billions that have poured into the game since Xi’s proclamation, if anything, the team has deteriorated.

Li Tie was one of just a few Chinese players to make it in the English Premier League, and later, managed the Chinese national team. He was sacked in 2021 after failing to qualify for another World Cup. A year later he was arrested for bribery.

This week’s CFA sanctions come just one week after one of China’s most humiliating defeats in the history of its soccer team, a 7-0 drubbing by Japan, one of its biggest sporting and geopolitical rivals.

The post South Korea’s Son Jun-ho Claims Chinese Police Coerced Match-Fixing Confession appeared first on Casino.org.

Recent media reports suggest that new Prime Minister Paetongtarn Shinawatra is poised to bring a casino policy statement to parliament as soon as this week, and that the package is likely to include a directive calling for as many as seven gaming venues to commence Thailand’s foray into regulated gaming.

Should related speculation about the creation of seven integrated resorts, including three in Bangkok prove accurate, those numbers would top previous scuttlebutt. Earlier this year, there was chatter that should Thai policymakers approve casino gaming — an increasingly likely prospect — the country would start with five casino hotels. That plan called for two gaming venues in Bangkok, and one each in the Eastern Economic Corridor, Chiang Mai, and Phuket.

Bangkok Could Be an Alluring Casino Center

An article published by The Nation on Monday featured comments from Deputy Secretary-General to Prime Minister Suksit Srichomkwan indicating that the casino legislation under consideration by the Thai cabinet provides for three integrated resorts in Bangkok.

Assuming long-term return on investment in the high teens or low 20s in percentage terms – a common goal in the gaming industry – a $3 billion licensing fee would likely be palatable to numerous gaming companies, including US-based firms Las Vegas Sands, MGM Resorts International, and Wynn Resorts. All three have expressed some interest in Thailand.

The aforementioned legislative package also includes stipulations that casinos command no more than 10% of an integrated resort’s square footage and that gaming venues outside of Bangkok will carry an initial licensing fee of $1.5 billion.

Bangkok Casinos Matter for Other Reasons

The Thai government’s commitment to allowing casino resorts in Bangkok is important for other reasons. First, it’s the most populous city in the country, thus making it desirable for operators.

Speaking of Japan, Thai lawmakers backing the country’s casino ambitions are hoping to speed up the legislative process so that their nation’s first gaming venues open before MGM Osaka does in 2030.

The post Thai Government Eyes Bangkok for Three Casinos appeared first on Casino.org.

Among the group are former Chinese internationals Jin Jingdao, Guo Tianyu, and Gu Chao. Current South Korea international Son Jun-ho, who played in China for Shandong Taishan in the Chinese Super League, is also on the list.

The sanctions were announced Tuesday at a press briefing in Dalian by the top official from the Ministry of Public Security, Zhang Xiaopeng, and reported by Xinhua, the state-owned news agency.

Draining the Swamp

Zhang said the bans were the culmination of a two-year investigation that uncovered widespread online gambling, match-fixing, and bribery in Chinese soccer. Some 120 matches were implicated in the investigation, which involved 128 criminal suspects and 41 teams.

In addition to the 43 life bans, 17 others, including Cameroonian forward Donovan Ewolo, now playing in Saudi Arabia, were banned for five years.

Son ‘Bewildered’

Son, 32, was arrested as he attempted to leave China in May 2023. He was detained in the country until March of this year on unspecified bribery charges.

“His actions seriously violated sports ethics and sportsmanship, causing significant negative social impact,” the CFA said.

Son’s agent, Park Dae-yeon, told South Korean news agency Yonhap Tuesday that he and his client were “bewildered” by the “ridiculous” charges.

Corruption has long been endemic in Chinese soccer. Earlier this year, former CFA president Chen Xuyuan was sentenced to life in prison for accepting millions in bribes.

China’s Failed Soccer Project

Chinese President Xi Jinping is said to be a big fan of the game and pledged in 2015 to turn China into a soccer superpower that would one day lift the World Cup. But despite pouring billions into the sport, there is nothing to suggest China is the sleeping giant of world soccer.

If anything, the country’s prospects for achieving soccer glory are getting worse.

A recent documentary that aired on state television claimed corruption is holding Chinese soccer back and may have spurred authorities to purge the game of undesirable elements.

Just hours after Tuesday’s sanctions were announced, China was beaten at home by Saudi Arabia. The national team currently sits at the bottom of its World Cup qualifying group.

The post China Soccer Purges 60 Players, Officials in Corruption and Gambling Probe appeared first on Casino.org.

Founded in 1985 to bridge relationships between the Jewish community and Republican lawmakers, the RJC became a major political player more than a decade ago when Sheldon Adelson began pouring millions of dollars into the nonprofit’s political action committees. Adelson, who built The Venetian and Palazzo resorts on the Las Vegas Strip, and who is credited for transforming China’s Macau into the world’s richest gambling hub, died in January 2021.

During the RJC Annual Leadership Summit at The Venetian in Las Vegas last week, Adelson said Trump is the Jewish community’s “best friend.”

RJC’s Unprecedented Spending?

With Adelson’s support, the RJC plans to spend a record $15 million this presidential election cycle to defeat Vice President Kamala Harris, with $10 million going to battlegrounds. The RJC believes Trump is an ally to the Jewish community while Harris has sympathized with anti-Semitic rhetoric.

“Kamala Harris embraces and defends the squad even after Ilhan Omar made disgusting anti-Semitic comments,” a narrator claims. “Harris joined the squad in sympathizing with anti-Semitic, anti-Israel protestors.”

The 30-second spot will begin airing in select markets during Tuesday night’s presidential debate between Harris and Trump. While the latest polling suggests Harris has a slight lead, political betting markets have Trump as the front-runner.

Understanding the gravity of this moment … this is, by far, the largest and most comprehensive effort to turn out the Jewish vote for President Donald J. Trump,” the RJC said.

Trump, at the urging of the Adelsons, relocated the US Embassy in Israel from Tel Aviv to Jerusalem. For years, Sheldon Adelson lobbied that the embassy should be located there to recognize Jerusalem as the true capital of Israel.

“I’m a one-issue person. That issue is Israel,” Adelson, whose parents were Jewish immigrants, said in 2017. Adelson added that Palestine exists solely “to destroy Israel.”

Odd Relationship

While Adelson and the RJC work to reelect Trump, her newest business partner is doing just the opposite.

Adelson acquired a controlling stake in the NBA’s Dallas Mavericks last year from billionaire Mark Cuban. The “Shark Tank” star retained a 27% ownership position in the team and remains in charge of the franchise’s operations.

The tech tycoon says he’s offered to serve in the Harris administration, with it being his wish to head up the Securities and Exchange Commission.

The post Republican Jewish Coalition Announces Record Ad Buy to Support Donald Trump appeared first on Casino.org.

On Tuesday, Sam Hou Fai received a record 96% of the nominations to become the sole candidate for the chief executive position from a 400-strong pro-Beijing election panel. The nomination period for the SAR’s leadership election ended last Thursday.

Current leader Ho Iat Seng announced in August that he would not seek a third term as chief executive, citing poor health.

Sam, 62, stepped down as president of the Court of Final Appeal, Macau’s highest court, ahead of his announcement in late August that he would run for office. He will now stand unopposed in the October election, rendering the voting process somewhat meaningless for Macau’s citizens.

Concerns for Casino Sector?

A native of Zhongshan, Guangdong Province, in mainland China, Sam will be the first Macau chief executive to have been born outside the gambling hub. He will also be the first to hail from the legal profession as opposed to the business sector.

The panel’s emphatic support for Sam reflects his willingness to toe the party line. Certainly, his views on the gaming industry echo those of the central government in Beijing, which has long pressed for the diversification of Macau’s economy.

Beijing blames the industry for facilitating money laundering and capital flight from the mainland. The government is currently cracking down on illegal money exchanges that allow mainland gamblers to circumvent tight controls on the movement of money.

“For a period of time, the tourism and gaming industry developed in a disorderly manner and expanded wildly,” Sam said at a press briefing last month. “Having one dominant industry is not beneficial for Macau’s long-term development and has had a very negative impact.

“Macau’s long-term development is only possible with the country’s support,” he added, alluding to heightened cooperation with Beijing.

Pro-Beijing

Macau has its own financial system and a degree of political autonomy as an SAR under China’s one country, two systems policy. However, despite its capitalism, it has been far less resistant to the creeping influence of Beijing than has Hong Kong, its fellow SAR and neighbor across the Pearl River Delta.

That’s probably due to its population makeup. More than half of Macau’s 686,607 citizens have immigrated from the mainland in the past few decades. In contrast, most of Hong Kong’s population was born and raised in a liberal, free-market democracy.

The post Former Judge Sam Hou Fai to Stand Unopposed for Macau Leadership appeared first on Casino.org.

Well-heeled donors to the Harris campaign have recently increased pressure on Harris to sack Kahn and Securities and Exchange Commission (SEC) Chairman Gary Gensler should she win the White House.

Earlier this year, the FTC announced an investigation into MGM Resorts International’s (NYSE: MGM) response to the September 2023 cyberattack that temporarily crippled the casino company’s domestic operations.

Kahn hasn’t signaled that she’s considering recusal, and the legal wranglings between the FTC and MGM are ongoing.

Kahn was appointed by President Biden in 2021 and her term expires on September 25, meaning it’s likely to be renewed so that the top spot at the FTC isn’t vacant until after the election. Should Kahn commit to a second term, that means unless she is fired by Harris — assuming the vice president wins the election — the FTC chair would occupy that position for a significant portion of Harris’s first term as president.

MGM Director Barry Diller Wants Kahn Gone

IAC/InterActiveCorp (NASDAQ: IAC) Chairman Barry Diller is among the Democrat donors reportedly leaning on Harris and her campaign to remove Kahn. In a July interview with CNBC, Diller called Kahn “a dope” and said she’s against “almost anything” that helps business efficiently grow.

Diller’s conglomerate is the largest MGM investor, controlling roughly 20% of the gaming company’s shares as of May. IAC initiated its MGM stake in August 2020 and added to it three months later.

Mark Cuban is No Fan of Treasury Secretary Gensler

SEC Chairman Gensler has been rumored to be a potential candidate for Treasury Secretary should Harris win the presidency, but that appears increasingly unlikely as some of the vice president’s wealthiest supporters increase pressure on her to fire him, too.

Cuban has long said he wants to partner with Sands on bringing a casino hotel to the Dallas-Fort Worth metroplex.

The post Dem Donors Want Harris to Sack FTC Chair Lina Kahn, Who Sued MGM appeared first on Casino.org.

Tuesday night’s showdown comes 75 days after Trump exposed President Joe Biden during their June 27 debate that resulted in many Democratic leaders questioning the president’s mental fitness and ability to lead for another four years. Biden eventually succumbed to the political pressure mounted by his former boss, President Barack Obama, and US Rep. Nancy Pelosi (D-California), in deciding not to seek a second four-year term in the White House.

The second presidential debate of the 2024 season brings in a new Democratic candidate in Harris, who was picked to succeed Biden as the party’s leader. Harris is reportedly working hard on her debate preparation, as the VP has largely refrained from speaking off script in the leadup to her one-on-one with the billionaire who made much of his fortune in the gambling industry.

Debate Preview?

Tuesday’s primetime presidential debate will air at 9 pm EST from the National Constitution Center in Philadelphia. David Muir and Linsey Davis of ABC News will moderate the 90-minute event.

Pennsylvania is likely to be a key swing state in determining the Electoral College outcome. According to the most recent polling average in Pennsylvania, Harris has a 0.6-point lead there over Trump.

Political wagering exchange Polymarket has an abundance of contests on the Tuesday debate. A little more than 24 hours before the conversation is scheduled to begin, bettors on the decentralized exchange think Trump will command more speaking time, but polls will conclude that Harris won the evening.

As for Trump, bettors think he’ll call Harris the “border czar” but are split on him calling the vice president “Comrade Kamala,” a jab linking her to communist policies. Bettors think there’s a 66% chance Trump will say “fake news” and a nearly nine in 10 chance he’ll say “China” at least three times. The odds of Trump referencing Israel are at -900 (1/9), or a 90% chance.

Bettors don’t think Trump and Harris will shake hands to start or end the debate. “Yes” shares in that market are trading at just 27 cents. Shares of winning outcomes are redeemed at $1 each, minus platform fees.

2024 Odds

Polymarket odds as of September 9 for the 2024 election have Trump the betting front-runner, with his shares trading at implied odds of 52% to Harris at 46%. More than $844.9 million is riding on the November 5 outcome.

Harris is the underdog at 11/10 (+110). A winning $100 bet on that line would net $110.

The post Political Bettors Predict Outcome of First Debate Between Kamala Harris and Donald Trump appeared first on Casino.org.

The Commodity Futures Trading Commission (CFTC), which regulates the exchange, had previously ordered Kalshi not to offer this product on the grounds that betting on elections is illegal in the US.

Kalshi?sued the CFTC?last year, arguing that it had overreached its authority when it blocked the contracts.

What’s an Event Contcrat?

An event contract is a type of derivative that allows users to speculate on the outcome of a specific event, whether that be monetary policy, the Oscars, or which party will win control of Congress. They’re usually formatted for putting money on “yes” or “no” outcomes before expiring.

In addition to providing economic hedging benefits, political event contracts harness the power of free markets to produce high-quality predictive data. In countries where fixed-odds betting on political events is permitted, sportsbooks have regularly proved to be more accurate predictors of election results than polls.

The CFTC Strikes Back

Judge Jia Cobb didn’t give her reasons for siding with Kalshi, which she said she would lay out in a forthcoming opinion.

“Election markets are now legal in the United States for the first time in 100 years. Americans will finally be able to trade the election on a US-regulated market,” the startup’s CEO and co-founder, Tarek Mansour, said in a statement.

Hours later on Friday, the CFTC filed an emergency motion asking the judge to stay the decision for two weeks. The regulator said in the motion that it was in “the unenviable position of finding out that it has lost but without any explanation or reasoning.”

At a time when distrust in elections is at an all-time high, even a short listing of Plaintiff’s contracts, and/or similar election contracts on other DCMs, could harm public perception of election integrity and undermine confidence in elections,” CFTC lawyers wrote.

In a filing Sunday, Kalshi called the motion “meritless” and said granting it would cause “irreparable harm” to the company. Kalshi had “staked its future” on the litigation and on being able to participate in the forthcoming election markets, the company added.

“The Commission lost, fair and square, on the law,” Kalshi said in its Sunday filing. “It should not be allowed to snatch a procedural victory from the jaws of defeat by running out the clock.”

The post Kalshi Can Offer Event Contracts on US Election, Rules Federal Judge appeared first on Casino.org.

Thailand’s Deputy Finance Minister Julapun Amornviva said the country’s new government is behind the effort to bring integrated resorts to the Southeast Asian country and plans to move forward on that front. The finance minister said the plan was supported by 80% of politicians attending a recent meeting on the subject.

News of the political momentum for Thai gaming venues emerged after a public comment period on the 22-page Draft of the Complete Entertainment Business Act B.E. That ran through Aug. 18 and by all appearances, Thai citizens are on board with the country introducing casino hotels as a way of boosting the tourism industry, which is one of the largest drivers of economic activity in the nation.

Speculation indicates that Thailand could approve as many as five casino licenses to start with the locations rumored to be two in the capital city of Bangkok, and one each in the Eastern Economic Corridor, Chiang Mai, and Phuket. Each venue would carry a 30-year licensing term.

New Regime Backs Thailand Casinos

Last month, former Prime Minister Srettha Thavisin was surprisingly removed from power, but the winds of political change in Thailand — a country with a history of political volatility — aren’t damaging the case for casinos.

He could be onto something with that assertion because by some estimates, Thai gaming venues could generate more than $15 billion in annual in gross gaming revenue. Should that forecast prove accurate or be exceeded, it’d make Thailand one of the largest casino markets in the world. While that pace of GGR would trail Macau and Nevada, it’d be more than enough to rival or beat Singapore.

The ruling Pheu Thai Party has acknowledged that Thailand is now trailing other countries in the region, including Cambodia, Myanmar, the Philippines, and Singapore, when it comes to legalized gaming. Currently, Thailand has no legal casinos or sports betting, but the country has more than its share of illicit gaming dens, which create problems for those communities and local law enforcement.

Thailand Could Be Vibrant Casino Market

The ongoing political momentum in Thailand for integrated resorts is important on a number of fronts, including the country’s ambition of getting some of those venues open before MGM Osaka debuts in 2030. Additionally, a hospitable regulatory environment could be pivotal in luring big name operators.

It’s believed Las Vegas Sands, MGM Resorts International, and Wynn Resorts are among the global gaming giants that are interested in pursuing Thai licenses. MGM said it would do so through its MGM China unit.

Experts believe Thailand will opt for a 17% tax on gross gaming revenue (GGR) — the same rate applied in Singapore. That tax rate is viewed as attractive and would be competitive with other casino markets in the region.

The post Thailand Casino Plan Gains Momentum as Political Support Increases appeared first on Casino.org.

All nine inspectors under Champion’s control signed an open letter published Wednesday by the MSEA-SEIU Local 1989 public services union. The letter expresses no confidence in Champion, who has been executive director of the Maine Gambling Control Unit since 2016.

“Casino gambling … was a highly contentious issue in Maine in 2003 when it was passed by voters and legalized,” Mark Brunton, president of Local 1989, said in a statement. “One of the concerns was to make sure it was well-regulated to protect the citizens of Maine. That’s the important role that our inspectors play. They need to be on the job whenever the casinos are open.”

‘Undermining the Board’

?The inspectors’ letter claims that Champion “does not respect” the oversight of the Maine Gambling Control Board because it has denied his proposals in the past.

Now, rather than subject himself to the checks and balances of the Board’s oversight function, Milton Champion is circumventing the Board altogether by making unilateral decisions that completely undermine the Board’s ability to oversee gambling matters in Maine.”

The inspectors claim that “many of these decisions make very little sense, are based on false data, and have irreparably harmed the Maine Gambling Control Unit’s ability to regulate casino gambling.”

Additional grievances include Champion’s alleged failure to “correctly pay” his inspectors for services rendered and refusal to discuss all of the above issues.

“We must make it known that Milton Champion has repeatedly shown a lack of respect for our legal rights and processes spelled out in our union contract, has retaliated against us individually and as a group, and has created a deeply dysfunctional and toxic workplace environment,” the letter states.

Champion Blunder

Champion hadn’t responded to a request for comment on the letter from Casino.org at the time of publication. However, Steven Silver, chair of the Maine Gambling Control Board, told The Portland Press Herald that “from a purely operational standpoint, things have been running very smoothly and very profitably under Director Champion.”

Silver also acknowledged he was aware of complaints about a hostile work environment and had concerns over the decision-making that went into the schedule change.

On May 6 of that year, the regulator replied to a poster’s opinion that referring to a group of women as “ladies” was inappropriate.

“In this day and age, I guess ‘bitches’ is better,” he suggested.

Then, just over a week later, he reacted to images of a white nationalist march on the US Capitol with: “At least they are not burning down or looting stores.”

The post Maine Chief Regulator Facing ‘No Confidence’ Revolt by Casino Inspectors appeared first on Casino.org.

The tribes claim the card clubs offer games that violate their own exclusivity on house-banked casino games. But they have previously lacked the legal recourse to challenge the clubs. That’s because, generally speaking, state courts lack jurisdiction over tribes, which are sovereign nations. And meanwhile, federal courts prefer not to interfere with California’s internal gaming laws.

The Senate approved the Tribal Nations Access to Justice Act by a resounding 32-2 on the final day of the legislative session. The bill authorizes the tribes to seek limited declaratory and relief action to determine whether the card clubs’ games violate their rights. They cannot claim monetary damages.

California Games

California Nations Indian Gaming Association (CNIGA) Chairman James Siva described the legislation’s passage in a statement as “a new day in California history in regard to the civil rights of this state’s tribal nations.”

For over a decade, California tribes have engaged in considerable efforts to defend our exclusive gaming rights guaranteed in the California Constitution,” Siva added. “The Tribal Nations Access to Justice Act gives tribes access to justice that has been denied not only in this case, but throughout California history.”

At the heart of the matter are so-called “California games” offered by the state’s cardrooms. These are versions of popular casino table games that circumvent the ban on house banked games by taking a rake from each hand while allowing players to play in a rotating dealer position — just like in a regular poker cash game.

But the cardrooms also hire state-licensed third parties to “shill” in the dealer spot because players don’t always want to act as the dealer. The tribes argue that these companies, known as TPPPs, are a de facto “bank.”

Jobs on Line, Say Cardrooms

Cardroom advocacy group the California Gaming Association (CGA) has said the bill could cost the industry around 32,000 jobs. That’s because an unfavorable court ruling stemming from the bill would force many of the clubs to downsize or shut down.

“This bill will only throw government budgets into uncertainty and make a mockery of our judicial system,” according to an August 20 statement by the CGA editorial board. “Weaponizing the legislative process so that one special interest group can try to drive out perceived competition is silly on its face.”

The post California Legislature Passes Bill to Let Tribes Sue Cardrooms appeared first on Casino.org.

In a media session earlier this week following a Cowboys practice, Jones said he thinks the Lone Star state will eventually have sports betting, but until then, Texas is missing out on an opportunity to generate significant tax receipts.

I think ultimately you’ll have sports betting in the state of Texas. Until that time, the state does lose an opportunity for huge amounts of revenue,” the Cowboys boss said.

Jones didn’t speculate as to when the state could approve mobile sports betting, but it appears that is highly unlikely to happen prior to the 2027 legislative session. If it happens then and the matter is approved by voters later that year, it’s possible Texas would have mobile sports wagering in advance of the 2028 football season.

Jones Wants Transparency in Texas Sports Betting

Jones and other owners of professional teams located in Texas have been vocal supporters of regulated sports wagering coming to the state because it’d be a money-maker not only for the state, but for their franchises as well.

“I think that properly, properly supervised, by the people that play the games and people that have the teams that play the games and the individual athletes — you’ve got to make sure that the perception is and the reality is that there’s just no compromising on it all being very competitive and up-and-up,” he told the press. “I think that takes some time in some places more than it does others.”

Jones has some gaming investments, including ties to an Arkansas casino plan. Along with several other professional team owners, he was an early investor in DraftKings (NASDAQ: DKNG).

Texas Sports Betting Outlook

In 2023, both casino gaming and sports wagering made more progress than the issues previously had in Texas, but both ultimately perished because there wasn’t momentum in the state Senate to take up the related bills.

Lt. Gov. Dan Patrick (R) controls what bills are heard in the Senate and his opposition to gaming expansion is well-documented.

Due to this being an election year, the Texas legislature had a brief schedule, making it difficult to consider gaming issues. The legislature is scheduled to reconvene in January, but the prevailing wisdom in sports betting circles is that politicians there won’t prioritize sports wagering.

The post Jerry Jones: Without Sports Betting, Texas Missing Out On Big Revenue appeared first on Casino.org.

Alice Leal Guo fled the Philippines by speedboat on July 18 after repeatedly failing to turn up to a Senate committee hearing examining her case.

The agency said this week it believes Guo is taking a circuitous route to the Golden Triangle, a semi-lawless area spanning the intersecting borders of Laos, Thailand, and Myanmar, which is under the influence of triads, drug cartels, and trafficking syndicates.

Shocking Discovery

The?Guo?case became a national sensation after police raided a POGO (Philippine Online Gambling Operator) complex in her town of Bamban in the northern province of Tarlac last February.

Inside, they found hundreds of trafficked workers, Guo’s car, and documents showing the land on which the POGO complex was built was partially owned by the mayor.

Residents of Bamban say that no one knew Guo before she ran for mayor in 2022, which is also when all of her social media accounts were registered.

Meanwhile, investigators have discovered that large sums of money were deposited in Guo’s bank accounts, which were then transferred to other individuals and business entities in China.

The mystery surrounding Guo’s identity has led to speculation that she is a Chinese asset, which she has denied.

Fujian Clan

The PAOCC claims Guo is connected to the so-called “Fujian Clan,” a network of Chinese nationals that?washed at least US$2.2 billion — largely the proceeds of illegal online gambling — through Singapore’s banking system.

“We are confident that she is trying to get into the Golden Triangle,” said Winston Casio, spokesperson of the PAOCC, who added that the Guo family also has business interests in Cambodia, another hotbed of triad scam centers.

“They are part of a big criminal organization. The Fujian Gang, to which the Guos belong. is part of the Golden Triangle Triad,” he claimed.

Guo’s escape from the Philippines has angered President “Bongbong” Marcos. Speaking of those who must have aided her flight, he warned that “heads will roll” over the “corruption that undermines our justice system and erodes public trust.”

The post Fugitive Philippine Mayor Headed to Lawless Drug Region, Authorities Say appeared first on Casino.org.

Sam Hou Fai, 62, stepped down as president of the Court of Final Appeal ahead of his announcement this week. He is expected to be the only candidate to be approved to run for office by a pro-Beijing election panel.

Macau has its own financial system and a degree of political autonomy as a Special Administrative Region (SAR) under China’s one country, two systems policy. However, candidates for the chief executive role are chosen by the Beijing-approved 400-strong panel comprised of politicians and businessmen. This renders ordinary citizens’ right to vote for their leader almost meaningless.

‘Wild’ Expansion

Sam’s views on the gaming industry echo Beijing’s policies, which have long sought diversification of the SAR’s economy. The central government is currently engaged in a crackdown on money laundering and capital flight from the mainland, which has moved from targeting the casino junket industry to illegal money-exchange businesses.

For a period of time, the tourism and gaming industry developed in a disorderly manner and expanded wildly,” Sam said at a press briefing Wednesday, as translated by Bloomberg. “Having one dominant industry is not beneficial for Macau’s long-term development and has had a very negative impact.”

The casino industry’s dominance has strained the resources of society such as manpower, and narrowed the career choices of young people, Sam claimed. As such, the city’s economic and political development faced “unavoidable” challenges, and Macau needs to “reform and innovate.”

“Macau’s long-term development is only possible with the country’s support,” Sam added, referring essentially to heightened cooperation with Beijing.

Casino Stock Impact

Shares in Macau casino operators fell slightly on the news. Sands China Ltd. was down 2.8% Wednesday, while MGM China dropped 2.5%.

His predecessor, Ho Iat Seng, announced last month that he would not seek a third term as chief executive, citing poor health.

The post Macau Judge and Casino Critic Likely to be Gambling Hub’s Next Leader appeared first on Casino.org.

None of those investigated will be charged with misconduct in public office, the Met said. However, it’s still possible that they could still be charged under the Gambling Act for cheating at gambling.

The Gambling Commission is still examining the actions of numerous senior Conservatives accused of placing bets on the timing of the election based on information known only by a select few. The wagers were allegedly placed just days before the “snap” election was announced by then-prime minister Rishi Sunak.

Conservative Downfall

The scandal was one of the factors that contributed to the Conservative Party’s landslide defeat in the election. A survey by thinktank Demos found the incident had further eroded voters’ trust in the party’s ability to govern.

Among those accused was?Craig Williams, who at the time, was Sunak’s chief aide. Williams has admitted placing a ￡100 bet on a July election at odds of 5/1.

Also in the frame is Tony Lee, the Conservative Party’s director of campaigns. Williams, along with Lee’s wife, Laura Saunders, were standing in the election as prospective MPs but withdrew in the wake of the scandal.

Embarrassingly for the Met, “at least seven” of its own officers, including one who was part of Sunak’s protection detail, were also investigated for insider election betting. Their cases are being examined by the Met’s directorate of professional standards and the Gambling Commission.

High Bar Not Met

Misconduct in public office is a serious offense that has a maximum prison sentence of life. But after reviewing the case of the senior Conservatives, the Crown Prosecution determined that the “high bar for misconduct in public office to be proven was not met.”

It has therefore been agreed between the Met and the Gambling Commission that the more appropriate criminal offences to progress with would be those under the Gambling Act.” a Met spokesperson said. “While our involvement in the criminal investigation now ceases, it’s important that is not misinterpreted as an all-clear for those whose cases were looked at.”

UK Gambling Law prohibits “cheating at gambling,” but doesn’t define what this might involve. It is unclear therefore whether insider betting constitutes cheating in the eyes of the law.

The post UK Police Drop Probe Into Conservative Party Insider Betting appeared first on Casino.org.

From now on, requests from vendors for large quantities of processing equipment will be referred to the Texas Lottery’s executive director for closer investigation, especially when those vendors have no previous record of selling large numbers of tickets.

State Sen. Tan Parker (R-Flower Mound) said that the integrity of the lottery was “lost in the process” as a result of the jackpot win.

Jackpot Exploited

After 93 rollovers, the April 22, 2023 lottery draw was one of those rare occasions when the game becomes mathematically exploitable. The jackpot stood at $95 million, which meant that buying up every possible combination of numbers – or 25.8 million tickets at a dollar a ticket – would all but guarantee not only the jackpot but most of the other prizes as well. And that’s exactly what the mysterious syndicate did.

Because the prize was $57.8 million after taxes, the syndicate knew it was looking at a likely $22 million profit from the jackpot alone.

Even if it were unlucky enough to share the first prize with another winner, it would still make a profit of around $3 million. That’s before you consider the additional prizes, which it would be more likely to share with other winners.

A three-way split would have been a disaster, but that was an unlikely outcome and a risk worth taking for the syndicate.

The real problem was logistical. How do you go about buying 25.8 million tickets for a draw that typically only sells one to two million tickets per week? According to the state legislature, it was all way too easy.

Lottery ‘Collaborated’ in Scheme

All of the tickets bought up by the syndicate were processed at just four outlets, three of which had sold no tickets at all in the months leading up to the draw, according to an investigation by The Houston Chronicle.

That meant each outlet needed to order enough equipment from the Texas Lottery to process millions of tickets in the three days between the draws. The state agency was only too happy to oblige.

State Rep. Matt Shaheen (R-Plano) accused the agency of “collaborating” with a “group of sophisticated players.”

“A significant percentage of lottery sales in Texas is to lower-income individuals, and I think they were taken advantage of,” he said, as reported by The Chronicle.

The post Texas Lottery Implements Rule-Change After System Gamed for $95M Jackpot Win appeared first on Casino.org.

Two recent efforts to bring mobile sports betting to the state failed, but with neighboring North Carolina surpassing expectations, South Carolina policymakers could be compelled to advance related bills next year. In 2022, legislation to legalize sports betting in South Carolina made it out of the House but failed to gain traction in the Senate.

Last year, two sports betting bills, including one aimed at bolstering the state’s horse racing industry, were proposed and both gained momentum in the House, but both died without even being brought up for votes in the Senate. At that time, Rep. Chris Murphy (R-Dorchester County) said the state was missing out on significant revenue because many residents bet through illegal offshore sites.

Studies have shown that there is about $2.5 billion annually that’s being wagered online in South Carolina illegally,” he said at a March 2023 committee hearing. “The hope of this legislation would be to eradicate that illegal wagering.”

Even if legislators can get a sports betting through the Senate, odds of it becoming law are long because Gov. Henry McMaster (R-SC) opposes wagering expansion — something that a was a core component of his 2022 campaign platform.

In South Carolina, North Carolina State of Mind

While McMaster is unlikely to sign off on sports betting legislation, South Carolina politicians appear likely to try again, drawing inspiration from neighboring North Carolina.

Making North Carolina’s fast start in mobile sports betting all the more impressive is that the state has yet to enjoy the benefits of a football season — relevant because that’s the most wagered on sport in the US.

South Carolina is one of the more restrictive gaming states in the country. It’s one of just a handful with no land-based commercial or tribal casinos, though it has a lottery and a small number of pari-mutuel facilities.

South Carolina Alluring to Sports Betting Firms

Home to an estimated 5.37 million people at the end of last year, South Carolina is a potentially attractive sports wagering market for gaming companies. On the basis of population, the state is larger than several others that offer mobile betting, including Louisiana, Kentucky, Connecticut, Iowa, and Kansas, among others.

Likewise, the state is rapidly growing and many of its new residents hail from regions where sports betting is ingrained at a cultural level, including the Northeast.

And while South Carolina isn’t home to any professional teams from the major North American sports leagues, it is home to devoted fan bases tied to Clemson University and the University of South Carolina. The state also hosts NASCAR and PGA Tour events annually.

The post South Carolina Hoping Third Time’s Charm with Sports Betting appeared first on Casino.org.

Last year, the Texas House of Representatives passed a mobile sports wagering bill, but that legislation failed to advance through the staunchly conservative Senate. With this year being a presidential election year, there was optimism that lawmakers in the Lone Star State would revisit sports betting in 2025, but Eilers & Krejcik Gaming (EKG) said politics makes that timeline unlikely.

The state Republican Party platform, published in June, instructs lawmakers to oppose (1) any gambling expansion, and (2) any budget that relies on funds from expanded gambling,” observed the research firm.

Legalizing sports betting requires an amendment to the Texas constitution and under state law, two-thirds majorities in both chambers of the legislature are needed before such amendments can be put to voters. Republicans control both houses of the legislature and the governor’s office.

Texas Still Tantalizing Sports Betting Industry

The state’s status as the second-largest by population in the US isn’t the only reason Texas is so coveted by sportsbook operators.

Then there’s matter of slowing legislative progress on sports betting. Currently, 38 states and Washington, DC permit some form of sports wagering and of those that are on the sidelines, only Georgia and Texas qualify as large states that would have competitive markets, but related legislation died in Georgia earlier this year. The near-term outlook in Texas isn’t bright due to the aforementioned GOP platform.

It “explicitly addresses the warmer reception expansion has had in the House — the platform calls on lawmakers to ‘oppose any effort from the House leadership…to pressure members to vote for expanded gambling,’” added EKG.

Why 2027-28 Makes Sense for Texas Sports Betting

While 2027 for legalization and the following year for launch isn’t what Texas bettors and gaming companies want to hear, it makes sense because it’s possible that the 2026 mid-term elections bring change.

Though he has not publicly spoken on the matter, it’s possible that Lt. Gov. Dan Patrick (R) could opt to not seek reelection. He’ll be 76 years old at the time of the 2026 elections. In his role as lieutenant governor, he controls the State Senate and the House advances legislation that Patrick opposes, such as casino gaming or sports wagering, the Senate simply won’t deal with it.

Gov. Greg Abbott (R-TX) has warmed to gaming expansion and the Texas House is on board with sports betting. So are the voters, according to various polls. That leaves Patrick as the “gatekeeper” when it comes to sports wagering implying his decision on whether or not to run for reelection will loom large in sports betting’s future in the state.

The post Texas Sports Betting: Lone Star Long Shot Over Near-Term appeared first on Casino.org.

The Democratic National Convention concluded last night with Harris formally accepting the party’s nomination for president. She was hand-picked by the party’s elite after President Joe Biden heeded calls to exit the race after concerns were raised about his mental fitness following a disastrous June debate against Trump. ?

Harris’ post-convention boost could be offset by Robert F. Kennedy Jr. this afternoon announcing the suspension of his presidential campaign and endorsement of Trump.?

Latest Odds

There are just 73 days until Nov. 5, though early voting will begin across the nation in the coming weeks and months. As of today, Harris and Trump are neck-and-neck in the minds of political bettors risking money on the 2024 outcome.

Polymarket says more than $710.5 million has been bet on the market. Winning shares are redeemed at a dollar each. Polymarket charges a small deposit and withdrawal fee to operate the exchange.

Smarkets, a similar online political wagering platform, has Harris’ implied odds slightly ahead of Trump’s at 50.5% to 49%. However, Smarkets’ 2024 election outcome market has traded less than $8.2 million.

Betfair, yet another peer-to-peer political betting network, has Trump and Harris each at even money.

Oddsmakers in the United Kingdom where betting on elections, both U.S. and U.K. elections, isn’t frowned upon but embraced, Harris and Trump have the same odds as of Friday afternoon.

William Hill, a leading sportsbook up and down high streets, has Harris and Trump at 10/11 (-110). The line implies odds of 52.48%, with a winning $100 bet netting $90.91.

As for the polls, the latest average compiled by Real Clear Politics has Harris up 48.4-46.9.

Political Wagering Crackdown?

The U.S. government has long opposed the facilitation of gambling on elections. As a result, state gaming regulators in jurisdictions where sports betting is allowed have prohibited their sportsbooks from including political lines.

Wagering exchanges have operated in a grey area stateside, but those days could soon end.

In May, the Commodity Futures Trading Commission (CTFC), which in 2014 granted an online political wagering site a “No-Action Relief” letter suggesting the business would not face legal consequences for accepting wagers from U.S. customers, announced its change of heart in recommending that such exchanges be excluded from the marketplace.

The CTFC has taken a new approach to political wagering since Chair Rostin Benham became the boss of the independent government agency in January 2022. The CTFC is tasked with regulating derivative markets, including futures, swaps, and certain kinds of options.

The post 2024 Odds: Trump and Harris Neck-and-Neck Following Party Conventions appeared first on Casino.org.

In a letter to US Interior Secretary Deb Haaland this week, Newsom argued that the casinos, proposed by the Scotts Valley Band of Pomo Indians for Solano County and the Koi Nation for Sonoma County, are “proceeding in a manner that would sidestep the State [and] ignore the concerns of tribal governments and other local communities.”

The Scotts Valley Band has been seeking approval for its proposed $700 million casino resort near Vallejo since 2016. Meanwhile, the Koi Nation announced its plans for a $600 million project near Windsor in September 2021.

Controversial Projects

Both tribes have applied to the Department of the Interior (DOI) to have the land earmarked for the casinos taken into trust. This is the process by which the federal government partially removes land from the jurisdiction of the state and converts it to sovereign land, a prerequisite for tribal gaming.

Ultimately, while the DOI may consider Newsom’s stance on the applications, the governor will have no final say in the decision.

Both projects are controversial because they are opposed by some local residents, as well as by other tribes in the region. Casino opponents have accused the tribes of “reservation shopping,” suggesting they have?sought land far from their original reservations to maximize future casino profits.

Some Native Americans find the term offensive and believe it fundamentally misunderstands the nature of tribal reservations.

The Koi Nation’s links to the land have been disputed by the?Federated Indians of Graton Rancheria, which owns and operates the Graton Resort & Casino in Rohnert Park, about 11 air miles from the proposed site.

‘Land Appropriation’

Meanwhile, on Thursday, Cache Creek Casino operator the Yocha Dehe Wintun Nation, the Kletsel Dehe Wintun Nation, and local government officials held a press conference in West Sacramento calling for the DOI to reject the Scotts Valley casino project.

Neither the Koi Nation nor the Scotts Valley Band already owns a casino.

The post California Gov. Gavin Newsom Opposes Koi Nation, Scotts Valley Casinos appeared first on Casino.org.

Ho took a sudden medical leave of absence in mid-June to receive treatment for an undisclosed illness. He extended the leave and questions have remained since he returned to office in early August.

I have profound feelings for Macau and have done my utmost for Macau’s development but due to the fact that my health has not been fully restored, for the sake of Macau’s long-term development and from the perspective of the overall situation, I have decided not to participate in the election for the sixth-term chief executive,” Ho said in a government release. “I will fully support the sixth chief executive and the Macau SAR Government in governing according to law and in their continued contribution to the cause of ‘One Country, Two Systems’ and the development of Macau.”

Macau is the only place under Chinese control where casino gambling is allowed.

Most Difficult Period

Macau’s chief executive is elected every five years by a 400-person election committee. The composition of the electorate is comprised mostly of establishment figures who have pledged their allegiance to Beijing and the SAR.

Ho was picked by the committee in October 2019 to succeed Fernando Chui, who served in the chief executive role for 10 years. Ho assumed office on December 20 of that year.

Ho’s time in office couldn’t have come during a more difficult period, as the COVID-19 virus emerged in China that same month. Ho’s government oversaw three years of lockdowns and sporadic closures as China President Xi Jinping maintained his controversial “zero-COVID” policy until late 2022.

In December 2022, the Macau SAR Government, under Ho’s command, granted the region’s six commercial casino operators fresh 10-year gaming licensing extensions. They came at a costly price, as Ho’s government required that in exchange for the new concessions, the six companies must collectively invest nearly $18 billion in nongaming projects.

The goal of the nongaming pledge is to diversify the casino industry away from the VIP gambler to more of the mass market and MICE (meetings, incentives, conferences, exhibitions) business.

China’s central government believed the flow of billions of dollars from the mainland through the tax haven of Macau posed national security risks. The law enforcement crackdown was highlighted by China’s successful prosecution of Suncity Group founder Alvin Chau, who was convicted of illegal gambling and criminal association, and sentenced to 18 years in prison.

Chief Executive Candidates

The question now becomes who will succeed Ho in the most important government role in Macau?

Anyone aged 40 and older who is a Chinese citizen and permanent resident of Macau can submit their candidacy. Candidates must also not have residency status in any other country.

Jorge Chiang, a businessman and president of the Macau Lotus Chamber of Commerce, announced his candidacy last month on Facebook. But the odds likely favor Sam Hou Fai, the current president and chief justice of Macau’s Court of Final Appeal.

Candidates must formally declare their candidacy between August 29 and September 12. The election committee will cast its votes on October 13.

The post Macau Chief Executive Ho Iat Seng Won’t Seek Reelection in Casino Enclave appeared first on Casino.org.

The case of Alice Guo became a national sensation after police raided a POGO (Philippine Online Gambling Operator) complex in her town of Bamban in the northern province of Tarlac last February. The business, Zun Yuan Technology, was suspected of involvement in crypto scams, human trafficking, and cybercrime.

Inside, they found hundreds of trafficked workers. They also found Guo’s car. Police also discovered that the land on which the POGO complex was built was partially owned by Guo.

Further investigation into Guo’s background prompted concerns about national security. She claimed to be a natural-born Philippine citizen, the love child of a Chinese father and a Filipina maid. She said she grew up “hidden” and friendless on a pig farm.

Just Who is Alice Guo?

But her wealth, which she previously flaunted, was inconsistent with that of a small-town mayor in a Philippine backwater. Her birth certificate was registered when she was 17 years old, and her fingerprints matched those of a Chinese national named Guo Hua Ping who entered the country as a teenager.

All of this has led to accusations that she is a Chinese asset, which she has denied. The allegations come at a time of increased tension between Manila and Beijing over disputed territories in the South China Sea.

Last month, a warrant was issued for Guo’s arrest after she twice failed to appear at a Senate hearing to answer questions about her citizenship and the inconsistencies surrounding her birth and upbringing.

According to the Philippines’ Bureau of Immigration and the country’s Presidential Anti-Organized Crime Commission (PAOCC), Guo flew to Kuala Lumpur, Malaysia on July 18. Three days later, she hopped on a flight to Singapore. On August 18, she traveled to Batam, Indonesia, via ferry, according to PAOCC.

‘Heads Will Roll’

Her flight raises questions about how a fugitive from justice was able to travel through border checkpoints and whether she was aided in her escape.

President “Bongbong” Marcos announced Wednesday that “heads will roll” as a result of the incident, which he said had “laid bare” the corruption in the judicial system.

The POGOs, composed largely of Chinese nationals, thrived under former president Rodrigo Duterte, who was willing to license and tax the sector as long as it didn’t take bets from Philippine citizens.

More than 4,000 POGO-linked crimes, including kidnapping and murder, were reported from January 2017 to 2023, according to Philippine police.

Last month, President Marcos ordered the industry to be dismantled.

The post Philippines’ Fugitive ‘POGO’ Mayor Flees to Indonesia Amid ‘Chinese Spy’ Claims appeared first on Casino.org.

The Boston-based betting giant’s largesse came just three days after the PAC, Winning for Missouri Education (WME), succeeded in getting an initiative on the November 5 ballot.

The proposed measure will ask voters whether they want to approve a constitutional amendment to legalize both land-based and online sports betting.

Under the proposal, the first $5 million a year in state taxes from sports betting would go toward efforts to combat problem gambling, while the rest would be funneled into public education.

Missouri Secretary of State Jay Ashcroft (R) announced Tuesday that the signature-gathering campaign had met the threshold to qualify for the ballot, with some 171,592 validated signees.

Will Missouri Vote for Sports Betting?

Will Missourians back sports betting on November 5? The polls are all over the place. A study by Saint Louis University and YouGov found that 60% of respondents are in favor, while another one in June by Emerson College put the figure at just 38%.

Campaign spokesman Jack Cardetti told The St Louis Post-Dispatch that DraftKings’ sudden cash injection would be used for educating Missourians about the initiative.

Now that we are officially on the ballot, we’ll be over the next two and a half months talking to Missourians across the state about why it makes sense to set up a legal sports betting framework that helps public education,” Cardetti said.

If approved by voters, the measure would authorize the Missouri Gaming Commission (MGC) to issue sports betting licenses to the state’s 13 riverboat casinos. Professional sports stadiums and arenas would also be eligible to apply for a license. Additionally, up to two online operators would be permitted to apply.

Pro Sports on Board

It’s clearly enough to have whet DraftKings’ appetite. It’s estimated that a future Missouri sports betting market could be worth $290 million annually. Based on that figure, the blanket 10% tax proposed by the amendment would generate $29 million for state coffers in addition to $11.75 million in licensing fees.

“On behalf of all six of Missouri’s professional sports teams, I would like to thank everyone who signed a petition to get this on the ballot. A vote for Amendment 2 in November is the right thing to do for both Missouri public schools and our favorite sports teams,” said Cardinals President Bill DeWitt III in a statement.

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The tax-free tip commitments resonated in Nevada, the state home to the highest concentration of tipped workers in the country. But a prominent law and economics professor is casting doubt on either president’s ability to champion such a tax code change, a power that ultimately rests with Congress.

“There’s no way that it wouldn’t be a mess,” said Hines Jr.

Michigan’s law and economics schools are consistently ranked among the nation’s 15 best by U.S. News & World Report.?

Tip of the Iceberg

Hines believes such a change would result in many workers attempting to reclassify their income as tipped wages.

For example, a contractor might take a $2,000 service bill and amend it to a $1,000 job with a $1,000 mandatory gratuity. Employers might also reclassify annual bonuses as tips to lessen their payroll taxes and allow workers to keep more of their pay.

You will have taxpayers pushing their attorneys to try to characterize their wage and salary income as tips,” Hines said. “And some would be successful, inevitably, because it’s impossible to write foolproof rules that will cover every situation.”

Fiscal estimates project that removing the IRS’ tip tax could cost the federal government as much as $25 billion a year. Hines thinks the change would end up benefiting the wealthy and high-income earners, not the low-income taxpayers Harris and Trump are seeking to help.

“If the issue is you’re concerned about low-income taxpayers, there are a lot better ways to address that problem,” Hines said, suggesting better avenues to be increasing the Earned Income Tax Credit or lowering tax rates.

This is good politics but bad policy,” added Erica York, a senior economist and research director at the Tax Foundation, a think tank headquartered in Washington, D.C.

There are about four million workers in the U.S. who work in a tipped occupation, or about 2.5% of the country’s labor force.

Union Embraces Harris Pledge

While both the Republican and Democratic presidential candidates agreed that tipped workers shouldn’t have to pay taxes on gratuities, the leading casino union in Las Vegas is only supporting Harris for Nov. 5. Culinary Union Secretary-Treasurer Ted Pappageorge expressed differing opinions on the candidates’ tip tax guarantees.

When Trump first pledged to remove taxes on tips in June, Pappageorge said, “Relief is definitely needed for tip earners, but Nevada workers are smart enough to know the difference between real solutions and wild campaign promised from a convicted felon.”

On the political betting exchange Polymarket, Harris and Trump are in a dead heat at the time of this writing.

The post Trump, Harris Tax-Free Tips Pledge Unlikely, Law and Economics Professor Says appeared first on Casino.org.

Illinois Comptroller Susana Mendoza said Friday that the state is freezing $135,000 owed to the Village of Dolton until Henyard becomes transparent about her spending of taxpayer money. Henyard is under federal investigation for reckless and lavish spending on personal matters on the village’s dime.

Among her many questionable expenses was a first-class roundtrip to Las Vegas last year where she ran up over $10,000 in casino resort, hotel room, and dining expenses. Mendoza said she’s withholding Dolton’s $135K check until the village submits financial records as required by state law.?

“When municipalities around Illinois are having legitimate problems filing their annual reports with us, based on staffing or other issues, we earnestly work with them to get them into compliance,” Mendoza said in a statement.

Dolton is different. The mayor’s office has refused to communicate with us or address the problem. If Mayor Henyard refuses to follow state law, my office will use the tools at our disposal to safeguard the interests of Dolton’s citizens,” Mendoza stated.??

Mendoza reports that her office hasn’t received a financial filing from Dolton since 2021. Annual reports for 2022 and 2023 are delinquent, Mendoza explained.

Irresponsible Spending

Mendoza is keeping so-called “offset” funds from Dolton, which the state issues to townships and municipalities annually that are collected from things like traffic fines, income tax refunds, and lottery winnings. Dolton received $120K last year.

Henyard’s alleged reckless spending, which includes a private security detail fit for a U.S. president or royal, has put her in hot water.

Former Chicago Mayor Lori Lightfoot is leading a probe into Dolton’s finances on Henyard’s watch.

A preliminary report raised questions about the mayor regularly using a village credit card at Amazon, Target, Walgreens, Wayfair, and other retailers. She spent $33K on Amazon with the village credit card alone. Investigators believe the mayor has spent over $1 million of taxpayer money on herself and her closest allies.

Dolton’s population is only about 20K people. More than 20% live in poverty with the average median income at just $24K.

Henyard, meanwhile, is paying herself $270K annually and has proposed that the next mayor be paid only $25K, something her critics say is designed to fend off opponents from seeking the mayor’s seat.

Las Vegas Allegations

Henyard’s 2023 Las Vegas trip with an entourage of 13 raised many eyebrows.

One of her top supporters is Dolton Trustee Andrew Holmes, a community activist who allegedly sexually assaulted a now-former township employee on the Las Vegas trip.

The officer said Holmes called him bragging about hooking up with the assistant. On FaceTime, he panned the camera to show the partially dressed woman lying in the bed. The officer said in the complaint he could not tell if the woman consented.

In the aftermath of the lawsuit, the woman says she was forced to take unpaid time off and was later terminated. The police officer was demoted and removed from Henyard’s detail.

The post ‘Supermayor’ Tiffany Henyard, Who Partied in Las Vegas on Taxpayer Dime, Cut Off appeared first on Casino.org.

Adelson and her late husband, Sands founder Sheldon Adelson, have been Trump’s biggest supporters since the former casino tycoon announced his 2016 presidential run. The Adelson family poured more than $200 million into Trump’s 2016 run and unsuccessful 2020 reelection bid.

Political odds currently have Trump as a slight underdog. Vice President Kamala Harris’ odds on political wagering exchange Polymarket give her an implied chance of 51% to Trump at 47%.

Overseas bookmakers have Harris at -125, or implied odds of 55.6%. Trump is even money (+100 — 50%).

Las Vegas Sands no longer has domestic casino holdings after selling The Venetian and Palazzo resorts on the Las Vegas Strip in early 2022 for $6.25 billion. The company has several casino resorts in China’s Macau and is lobbying heavily in Texas for the Lone Star State to welcome casino resorts.

Adelson and her son-in-law, Patrick Dumont, Sands’ president and chief operating officer, acquired a controlling stake in the NBA Dallas Mavericks from Mark Cuban last year. Adelson’s fortune tumbled over the last 12 months, as Sands’ stock price crashed almost 25%.

Adelson Super PAC

Adelson will once again primarily fund Trump through her super political action committee (PAC) Preserve America. She gave the PAC $5 million in May to get its Trump campaign up and running, but the committee’s treasure chest will see considerably more money from the Sands owner in the coming weeks.

According to Andy Abboud, the Adelsons’ longtime political aide, family advisor, and spokesperson, Preserve America will spend upwards of $100 million to make sure Harris doesn’t become the 47th president.

We’re going to do whatever it takes for him to win,” Abboud confirmed in an interview with CNBC on Friday. “In her mind, and in the minds of those who run [Preserve America], we are going to do whatever it takes for him to win.”

In addition to her Preserve American, Adelson in May wrote a check for $844,600 to the Trump 47 Committee. She’s also given 38 committees and PACs $10,000 each that are working to put GOP governors and congresspeople into office this November.?

Israel in Focus

Adelson says Jewish voters should vote for Trump, a strong ally of the Israeli state who relocated the U.S. Embassy from Tel Aviv to Jerusalem while president. The embassy’s relocation was of utmost importance to the Adelsons, who attended the embassy’s opening on May 14, 2018, sitting in the front row.

President Trump deserves the full support of the entire Jewish people,” Adelson, who received the Medal of Freedom from Trump in 2018 for her philanthropic work in medical research, Holocaust memorialization, and strengthening the American Jewish community. “Anyone who cares about Israel’s security and prosperity, this must be our pledge to him — this must be our promise to him — that the White House will be his again come January.”

Harris reportedly strongly considered Pennsylvania Gov. Josh Shapiro (D) to be her running mate but was rumored to have been concerned that his Jewish heritage could turn off the Democrats’ Palestinian support.

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Sen. Mike Maroney, 56, was suspended from his duties as chair of the Senate’s Health and Human Resources Committee. That’s after being charged with misdemeanor indecent exposure and disorderly conduct.

On Wednesday, he pleaded not guilty to the charges in Marshall County Magistrate Court.

Caught on Camera

Maroney was spotted on security video by two female employees of Gumby’s Cigarette & Beer World in Glen Dale, near Wheeling, WV, “committing an act of sexual gratification” in the bar’s slots parlor, according to prosecutors. The alleged incident occurred on August 4 at about 1 p.m. and no one else was in the room at the time.

Senate President Craig Blair (R) told local Fox and ABC affiliate WCHS-TV Wednesday that Maroney had been relieved of his responsibilities so he could dedicate time to his “personal issues.”

The facts that have emerged are troubling, and I am disappointed,” Blair said. “However, in this time, our primary focus is on the well-being of Senator Maroney.”

Blair added that he would offer prayers for his “friend Mike” and his family “as he deals with these issues.”

Maroney was elected to the state Senate in 2016 and re-elected in 2020. He had just months to serve after losing his bid for a third term in the 2024 primary.

He previously raised eyebrows in 2019 when he was arrested on a misdemeanor charge of soliciting a prostitute. The charge was later dropped for lack of evidence.

Gaming Champion

The senator’s longtime support of the gaming industry in West Virginia’s Northern Panhandle might explain his presence at the video gambling establishment. However, his alleged behavior while there was “not up to the standard of what we expect from our elected leaders in the State Senate of West Virginia,” Blair noted.

He has also been a champion of sports betting. Again in 2020, he co-sponsored a bill that would have permitted betting on political events, although the events of this week were not a political outcome even the wiliest bettor could have predicted.

Maroney has been released on a $3,500 bond.

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The Cordish Companies, the Baltimore-based gaming and hospitality firm behind Live!-branded casinos and entertainment districts across the country, is the preferred gaming developer of the City of Petersburg.

If a simple majority of the Petersburg vote backs the Live! casino pitch, Cordish and development partner Bruce Smith Enterprises will be cleared to move forward with applying for a gaming license from the Virginia Lottery, which regulates casinos and sports betting in the commonwealth.

Campaign Launch

Cordish and Bruce Smith recently announced plans to get out the vote in support of what the developers believe will electrify Petersburg’s economy. Per the United States Census Bureau, 22.2% of the city’s population lives below the federal poverty level, which includes individuals earning less than $15K per year or a family of four in a household with income below $32K.

Cordish and Bruce Smith have brought on prominent local community activists Ja’Scotta Jefferson and Preston Page to serve as co-campaign managers for the 2024 Petersburg casino referendum. Two duo, Cordish and Bruce Smith said in a release, bring expertise and passion “with a proven track record in community engagement, strategic communication, and campaign management.”

Bringing this casino resort project to Petersburg is more than entertainment — it’s an opportunity to boost our local economy, create sustainable jobs, and generate much-needed revenue for community projects and services,” said Page. “For too long Petersburg has been overlooked by major economic development projects. I am excited to play a part in making this dream become a reality for Petersburg and continue to thoughtfully find ways to create community-changing opportunities for residents.”

Cordish and Bruce Smith hope to invest $600 million to open a 200-room hotel with eight restaurants, a resort-style pool, 35,000 square feet of convention space, a 3,000-seat concert hall, and a casino floor with approximately 1,600 slot machines, 50 live dealer table games, a 15-table poker room, and a sportsbook.

Economic Benefits

With the median household income in Petersburg less than $50K and per capita income below $30K, the developers behind Live! Casino & Hotel Virginia say the resort will bring hope for a better life to thousands of city residents.

“A project such as this will bring new positive change and economic benefits to the City of Petersburg,” said Jefferson. “Petersburg is a hidden gem. It’s time to let it shine.”

With its location along the Appomattox River, Petersburg’s economy first relied on the cultivation and manufacturing of tobacco. The British-American Tobacco Co. (BAT), which later became Brown and Williamson Tobacco Co. (B&W), were the city’s chief employers and taxpayers for many decades.

Petersburg’s economic downfall began in 1985 when B&W closed its Petersburg operations to consolidate its business in Georgia. Inner-city blight, increased unemployment, crime, and property abandonment, contributed to subsequent racial and social problems.

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During an interview with Stuart Varney, O’Leary, 70, said he thinks betting activity is a more reliable predictor of a race than polls.

I’d rather go with the Vegas bettors in terms of looking at election results. They’re better than the pollsters, frankly, if you look at the history,” O’Leary said.

Technically, there are no political bettors in Las Vegas, as Nevada doesn’t permit its licensed sportsbooks to take action on election results. No state with legal sports gambling allows election wagering, but the practice is widespread throughout the United Kingdom and Europe.

Political betting is also allowed in parts of O’Leary’s native Canada, including Ontario. After the failed assassination attempt of Donald Trump in July, FanDuel and BetMGM in Canada removed their 2024 odds on the US election.

Political Markets’ Accuracy

Political betting exchanges remain relatively new, but such websites did get the 2016 election right while nearly all polls had Hillary Clinton up big ahead of the contest against former President Donald Trump. The consensus odds on political exchanges also correctly predicted that Joe Biden would oust Trump from the White House nearly four years ago.

UK bookmakers that offer traditional odds on US elections also have Harris as the front-runner. High-street betting shops have the vice president at 4/5 (-120). A winning $100 bet on that line would net $80.

Trump, once a big favorite before President Joe Biden decided to heed calls from his party leaders to exit the 2024 race, is now the underdog. The former casino owner’s 2024 odds are at even money, with a winning $100 bet netting $100.

Robert Kennedy, Jr. is a distant third at 100/1.

Too Soon to Predict

O’Leary thinks the betting markets will provide more useful insights once the policy discussion between Harris and Trump heats up and possible debates between the two are held.

I don’t think anybody can call this race right now. We’ve got to get into the policy wars and hopefully the debate wars,” O’Leary said.

“I want to remind you that back when Trump was debating Clinton, there was a Sunday when the football games were on and I found myself watching the debate and being more entertained than football,” O’Leary continued. “I think the potential of a Harris-Trump debate is going to be great television.” ?

The post Kevin O’Leary Suggests Bettors Better Than Pollsters at Predicting Election Outcomes appeared first on Casino.org.

Earlier this month, Arkansas Secretary of State John Thurston confirmed that a ballot referendum campaign called Local Voters in Charge had submitted more than enough signatures, which his office validated, to place the question on the November 5 ballot. At this juncture, Arkansans will be asked if they support only allowing the Arkansas Racing Commission (ARC) to grant gaming licenses for casino projects located in host counties that want a casino development.

Local Voters in Charge seeks to rescind the Pope County gaming license that ARC in June granted to Cherokee Nation Entertainment, a commercial entity controlled by the Cherokee Nation of Oklahoma.

Lawsuit Claims

The complaint before the Arkansas Supreme Court was raised by the Cherokees on grounds that Local Voters in Charge violated Arkansas’ election laws and canvassing rules. The plaintiff alleges that canvassers were paid based on the number of signatures they collected and used “coercive tactics” to get people to sign the petitions.

The court gave the two sides an August 16 deadline to file their initial briefs and a September 26 deadline to deliver their respective replies.

The Cherokees claim that, in addition to the canvassing violations, Local Voters in Charge used misleading language and a faulty ballot title. The lawsuit says petitions must disclose “any conflict between a proposed amendment and federal law,” something the campaign failed to do.

The Proposed Amendment would revoke Cherokee Nation Entertainment’s casino license, which potentially violates the Takings Clause, Contracts Clause, Due Process Clause, and Equal Protection Clause of the United States Constitution,” the Cherokee complaint read. “It could also violate or at least amend other provisions of the Arkansas Constitution.”

Time is of critical essence in the case, as Thurston’s office is moving forward with placing the ballot question before voters for the November presidential election. The referendum before voters would read as follows:

“An amendment requiring local voter approval in a countywide special election for certain new casino licenses and repealing authority to issue a casino license in Pope County, Arkansas.”

Choctaw’s Motive

Local Voters in Charge is bankrolled by the Choctaw Nation of Oklahoma. The Cherokees say its rival tribe is seeking to protect its tribal gaming operations in eastern Oklahoma.

Russellville, the county seat of Pope where the Cherokees want to build a $300 million destination called Legends Resort & Casino, is about 75 air miles east of Choctaw land.

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A day after the Culinary Workers Union Local 226 endorsed Harris and her running mate, Minnesota Gov. Tim Walz, for the 2024 United States presidential election, Harris committed to removing the federal tax on tips. It’s a campaign promise that her opponent, former President Donald Trump, first made months earlier while campaigning in Las Vegas.

The Culinary local chapter represents approximately 60K workers employed in the gaming industry in Las Vegas and Reno. Labor members are employed as housekeepers, cooks, bartenders, waitstaff, porters, bellmen, and laundry workers.

I know Culinary 226 is in the house,” Harris said before a crowd of 12K in UNLV’s Thomas & Mack Center. “The Culinary Union, as everyone in Nevada knows, they have helped lead the way in our country for workers’ rights and workers’ dignity.”

“I have to say, for years, I’ve been so proud to work by your side … and earlier this year, right here in Vegas, we celebrated your historic contract win and it is my promise to everyone here when I am president, we will continue our fight for working families of America, including to raise the minimum wage and eliminate taxes on tips for service and hospitality workers,” Harris continued.

Tips Become Campaign Issue

Nevada is once again expected to be a key battleground state, which is why Harris and Trump have made — and will continue to make — campaign stops in the Silver State. Since 1980, Nevada voters have gotten every US presidential election outcome correct aside from Trump’s 2016 win in which the state went for Democratic candidate Hillary Clinton.

“As the largest organization of working women in Nevada, the chance to elect the first woman president of the USA is both energizing and historic and we are ready to make history together. The path to victory runs through Nevada and the Culinary Union, and we will deliver Nevada for President Kamala Harris and Vice-President Tim Walz,” said Culinary Secretary-Treasurer Ted Pappageorge.

Many Culinary union members rely heavily on tips from casino guests. Under the Internal Revenue Service’s current tax structure, tipped workers are required to report their tips as taxable income. While many might pocket some of their cash tips, in the age of credit cards being the primary payment method, it’s much harder for tipped workers to avoid reporting tips.

Eliminating tips from taxable income, the nonpartisan Committee for a Responsible Federal Budget reports, would create a $150 billion to $250 billion budget hole over the next decade.?

Trump’s Response

Trump pounced on Harris seemingly taking a page out of his 2024 campaign playbook.

Harris has no imagination, whatsoever, as shown by the fact that she played ‘copycat’ with no taxes on tips,” Trump wrote on his Truth Social platform.

On Polymarket, a decentralized peer-to-peer political betting exchange, Harris is now the front-runner. Her shares of winning the November 5 election are trading at 52 cents to Trump’s at 46 cents.

The post Harris Matches Trump Pledge to Eliminate Taxes on Tips During Las Vegas Rally appeared first on Casino.org.

Although Hochul hasn’t publicly said she won’t sign the bill, industry experts and New York political observers believe the writing is on the wall. Even if the Addabbo/Pretlow legislation was approved imminently, there’s not enough time for gaming operators to ready proposals for what are likely to be some of the most expensive casino hotels in US history.

Ominous Outlook for Speeding Up NYC Casino Bids

Even Pretlow acknowledged to Newsday that it currently appears unlikely that Hochul is going to move on the bill before the end of this month.

Michael Hershman, CEO of the Soloviev Group, echoed a familiar refrain, telling Newsday the expedited licensing bill is now a “moot point.” The Soloviev Group is partnering with Tribal casino giant Mohegan on a proposed gaming venue near the United Nations building on Manhattan’s East Side.

For contenders, an early opening of the bidding window would likely be met with applause because as things stand today, the New York Gaming Facility Location Board is eying June 27, 2025 as the date for applications to be submitted. After that, “Community Advisory Committees (CACs) will form immediately thereafter and commence their statutory work.”

The Board expects to make decisions by December 1, 2025, followed by Commission licensure by December 31, 2025. This ensures that New York State will collect the already-booked casino license fee(s) ahead of schedule,” according to the board.

Assuming that’s the timeline that’s adhered, 2026 would be the earliest at which ground could be broken new gaming venues, meaning it could be several years before they’re fully operational.

Why Speeding Up NYC Casino Licenses Makes Senses

By not swiftly moving to speed up the licensing process, New York is delaying receipt of millions of dollars in application fees not to mention $500 million per winning bidder — a figure some experts believe could drift as high as $1 billion per license.

It’s possible that if final approval of the three downstate casino licenses arrives at the end of 2025, MGM Resorts International’s Empire City Casino in Yonkers and Genting’s Resorts World New York in Queens could establish a lead over a third rival assuming those venues are selected for two of the permits.

Those properties are already operational as slots-only venues with both ranking among the highest-grossing regional casinos in the country. The operators have promised major enhancements if they’re awarded traditional casino licenses and that is the outcome, Genting and MGM can likely add some table games and other amenities without significant disruptions to day-to-day business.

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The Seneca Nation continues to operate its casino resorts and gaming halls west of State Route 14 on a gaming compact that expired in December 2022. Since then, tribal leaders, including Armstrong, Sr., have been negotiating with New York Gov. Kathy Hochul (D) and her office staff on new revenue-sharing terms.

New tribal compacts struck by the governor must be approved by both chambers of the New York State Legislature. Since the Assembly rejected Hochul and the Seneca’s proposed compact reached in June 2023, the governor and tribe have repeatedly agreed to extend the expired terms, with the tribe placing the 25% slot allocation into an escrow account.

Candidate Says New York Deserves Nothing

The Seneca Nation doesn’t limit the number of terms a president can serve but does prohibit a president from serving consecutive two-year terms. Armstrong’s third term expires in November.

Armstrong previously held the office between 2002-2004 and 2018-2020. He was reelected in 2022.

This week, Seneca Nation Councilor J.C. Seneca became the first tribal member to announce his presidential candidacy. In announcing his bid, Seneca pledged to tackle and complete ongoing “critical issues” facing the nation, including the unresolved Class III gaming compact.

I think inserting some new energy, some new vision, and some new personality can help the situation and push it forward,” Seneca said about the gaming stalemate.

Seneca’s position, however, might not be conducive to reaching a new compact. The Western New York businessman who owns and runs a large truck stop called the Native Pride Travel Plaza in Irving along Interstate 90 says the state no longer deserves a piece of the tribe’s gaming windfall.

No state has the right or authority to receive revenue unless the Indian Nation receives just compensation for it and so in that sense, if we’re not getting what we believe is value from the state, then they don’t get anything,” Seneca said.

The 25% slot allocation from the Senecas has averaged about $100 million a year to the state government’s coffers.

State Dragging Negotiations

It’s rumored that Armstrong is also petitioning the state for a significantly reduced or fully dissolved slot share agreement in a new Class III gaming compact. That could be why Hochul seems to be in no rush to strike a new compact, as it could result in reduced revenue for the state.

The coveted licenses are expected to be issued next year.

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