It’s good to be always a casino industry lobbyist or lawyer New that is representing Jersey gaming, according to the latest reports (Image: thepublici.com)
Every person understands that when it comes to gambling, the homely house always wins. In the case of online gambling in New Jersey, it seems that the lobbyists and lawyers do pretty well on their own, too.
Support Services Make Bank
Based on disclosures posted by the nj-new Jersey Division of Gaming Enforcement, the on line gambling industry has resulted in $50.3 million in payments to lawyers, lobbyists, and other professionals since mid-2009. The figures arrived just days before the revenue that is first are planned to be released for brand New Jersey casino web sites, and are element of an unusual requirement in New Jersey that demands disclosures for all professional re payments.
‘Many states have statutes requiring public disclosure of profits by lobbyists, including New Jersey, but this is the very first time I have ever heard of a gaming regulatory agency requiring disclosure of payments to lawyers,’ said Nicholas Casiello Jr., a lawyer with all the Fox Rothschild firm’s gaming group in Atlantic City.
This first report covered everything from July 2009 through December 2013, with future reports being made public on a quarterly basis.
The biggest ‘winner’ in terms of legal solutions was Brownstein Hyatt Farber Schreck, L.L.P., which made $1.89 million in legal charges. That’s in addition to another $2.83 million from activities described as a combination between lobbying, consulting and appropriate services, bringing their total haul to $4.72 million.
However, the disclosures also showed just how site that is unclear had been about what exactly they had to report. A number of the reports featured payments related to lobbying outside of Internet gaming issues, while others included expenses that came from on the web gambling efforts in other states.
The level of information in the reporting varied greatly since well. The Borgata merely reported two groups of payments: anyone to an attorney, and one with a lobbying group. On the other hand, Amaya Gaming Group and Ultimate Gaming included precisely what might possibly be relevant, down up to a payment of $19,380 up to a mathematician to help develop online games.
Lobbying businesses did instead well, gathering an overall total of $3 million from businesses in the market since 2009. The biggest chunk of that money went to Public Strategies Impact, which took in $37,500 every quarter from Caesars Entertainment. Some individuals had been reported to have received payments that are large too: TV poker personality Mike Sexton took in between $100,000 and $300,000 a year from Bwin.Party in an effort to be their brand name ambassador.
Not Absolutely All Were Revealing
Probably the more surprising aspect of the disclosures was which and how many companies involved in New Jersey’s online gambling industry really complied with the necessity to disclose payments. According to reports, only about 40 percent of this companies which should have already been necessary to file ‘Internet Gaming Disclosure Statements’ actually bothered to do therefore. However, that number is really a bit misleading, as most of the players that are major the industry submitted their statements, while additional organizations involved in the industry were spottier in their involvement.
‘Each of the state’s 11 casinos has filed and all sorts of seven of their state’s licensed Internet platform providers have filed the division’s disclosure type,’ said Lisa Spengler, spokesperson for the Division of Gaming Enforcement. ‘The division intends to follow along with up with licensed vendors that have not yet submitted a response.’
Unlucky Seven-Year Lineage as Atlantic City Falls Below $3 Billion
It is been a seven-year run of bad fortune for Atlantic City’s casinos, revenue-wise. (Image: Moonbeam 13)
It’s amazing what a positive change seven years could make. Atlantic City which was going strong and winning $5.2 billion from gamblers in 2006 has seen seven straight years of decreasing revenues, culminating within the town’s 12 (now 11) casinos bringing in less than $3 billion in gambling revenues for the time that is first 22 years in 2013.
The exact figure that was launched recently by the brand new Jersey Division of Gaming Enforcement came to $2.86 billion, or close to a five per cent drop from the $3 billion the casinos brought in during 2012.
There have been many contributing factors over the years that have held the losing streak going for Atlantic City’s casinos. But although the 2008 recession and also the damaging aftereffects of Hurricane Sandy in 2012 certainly hurt the gambling resort, the number one reason for the decrease has been increased competition from nearby casinos.
In fact, the downturn coincides exactly with the 12 months when the region began getting more competitive for casino operators overall. A destination closer to home in 2006, the first casino was built in Pennsylvania, giving gamblers especially casual casino visitors. There are now 12 Pennsylvania casinos, so that as of 2012, they were bringing in more money in total than their Atlantic City counterparts.
The decline had real-world implications at the beginning of 2014, as the Atlantic Club Casino Hotel turn off mid-January, leaving the city with only 11 operating casinos.
Can Internet Gambling Save your day?
Nevertheless, industry insiders say that they expect this trend to reverse itself in 2014, as the introduction of online gambling should offer a much-needed boost in revenues during the coming year.
‘Obviously it’s disappointing to see another where it’s a decline,’ said Tony Rodio, head of the Casino Association of New Jersey and president of the Tropicana Casino and Resort, which snatched up a piece of the Atlantic Club and will be taking most of the casino’s gaming equipment year. ‘But hopefully with the addition of Internet gambling, I think you’re going to see an increase in 2014.’
The 2013 figures that are annual the first-ever to consist of on line gambling revenue in brand New Jersey, as their state’s Web casino market started in late November. Overall, gambling enterprises took in $8.4 million in winnings during that time. The lion’s share of that revenue had been split between the Borgata and Caesars Interactive, which combined to bring in $6.1 million of that total.
The winner that is largest of all was the Borgata, which won $3.7 million on its PartyPoker-branded online gambling sites.
‘ Our community has attracted the largest pool of players in the latest Jersey online market, allowing us to offer our clients a broad selection of games and myfreepokies.com table stakes at all times,’ stated Keith Smith, president of Boyd Gaming (a firm that owns half of the Borgata). ‘This gives our network a significant advantage that is competitive positions us for further success.’
According to Smith, there was clearly also evidence that the online casinos were bringing in additional revenue, versus simply moving money from land-based operations to your online.
‘When matching our online and land-based databases, we found that 60 percent of on line casino customers wasn’t to Borgata in over per year, and over 75 per cent had made fewer than two trips to Borgata within the past year,’ said Smith. ‘And for a combined basis, on line and land-based poker revenue at Borgata was up more than 40 per cent from our land-based play in December 2012. Clearly, online gaming is complementary to our business that is land-based competitive.’
Nevertheless, it’s not yet certain whether online gambling will be the city’s monetary savior. Overall, casinos took in $222 million in December 2013 including their sites that are online was still down slightly from the $223.5 million they took in during December 2012.
Poker Site 888 Wants Hakeem Nicks to include an 8 to their Jersey
NY Giants wide receiver Hakeem Nicks will have an extra ‘8’ on his team jersey, if poker site 888.com gets their method (Image: BSO.com)
In the arena that is overcrowded of to get your title on the market, sometimes you simply need certainly to think outside the container. That is the thinking, evidently, of the marketing geniuses at 888.com, an online poker site now licensed into the newly launched nj-new Jersey online casino marketplace, when they offered New York Giants wide receiver Hakeem Nicks $88,800 to legally change his name to 888.com.
Anything for Attention
While pretty obviously just a publicity stunt to get shmucks like us to write the story up, it’s unlikely that a look for under $89K will probably get yourself a pro football player all that excited; heck, these guys spend that much on bottle service on any given Las vegas, nevada week-end. But it’s a catchy press release as well as an concept that is amusing. More than that, it’s at the very least in part in response to week that is last first-time-ever marketing alliance between an online poker site partypoker.com and two major pro sports teams: the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils.
Game up on.
Of course, ya gotta have gimmick, as Gypsy Rose Lee once said ( at least in the musical about her), so this is 888’s.
‘We’re excited that 888.com is installed and operating in nj,’ said 888 Holdings CEO Brian Mattingley. ‘with other area notables as we consider 888 to be the premier gaming site in the Garden State, we thought it was appropriate to align ourselves. We couldn’t consider a more fitting local athlete than Big Blue’s very own number 88, Hakeem Nicks. We are additionally aware that Hakeem’s contract is up, that he sees this as being a gesture to remain and being an opportunity to benefit a nearby charity that he supports. so we hope’
Never ever hurts to put in some community feel-good elixir either, does it.
Nicks Not Biting
Additionally not too surprisingly and vaguely similar to a recent cryptocurrency launch that used Kanye West’s name even though he had no actual involvement with the item Nicks has not responded, allow alone said yay or nay. It is been a year that is tough Nicks; he caught 56 passes for 896 yards, giving him an average of 16 yards per catch, and also had 14 catches for 20-plus yards along with his longest going for 57 yards. However, he went the season that is whole reaching the end zone.
While no body really thinks he will take 888 up on this offer that is creative minimum maybe not only at that price point if he did choose to proceed, there is a complete bunch of documents to be careful of, as anybody who’s ever gotten married or divorced can attest. Another one to the Social Security office, passport office and any and all banking institutions, Nicks would have to get a papal blessing from the NFL besides the usual trips to the DMV to change his license.
If which were to happen and there clearly was the precedent of Ocho Cinco, who changed his name from the more mundane Chad Johnson right back in 2008 Nicks would then trade in his present team jersey for a new one saying ‘888’ which would be a publicity success worth a whole bunch more than $88,800 for the poker site.