Plainridge Park Casino Collects $18 Million in First Month

The Plainridge Park Casino had a very successful first month, bringing in more than $18 million in revenue.
Massachusetts may nevertheless have an approaches to go before it turns into a casino gambling powerhouse, however their very first entry into the field is off to a start that is good.
The Plainridge Park Casino, which features only electronic games, brought in $18.1 million in revenue during its month that is first of, though experts cautioned that people numbers may decline a bit in the long run.
Critically, the revenues mean that approximately $9 million will end up being generated in revenue for state and local governments. That figure would put annual targets set by officials well within reach.
‘The commission is happy that these figures suggest that Plainridge Park Casino is on track to achieve their targeted array of $86 million to $120 million annually in contribution to aid that is local’ stated Massachusetts Gaming Commission representative Elaine Driscoll.
Revenues In Line With Projections
Officials had projected that the Plainridge location would generate about $200 million in revenue annually.
The figures through the month that is first go beyond that target by about 9 percent.
‘We are pleased with the July performance, which will be consistent with expectations,’ Penn National Gaming’s Eric Schippers told the Boston Herald. ‘It typically takes three to 6 months through the grand-opening period to begin to comprehend market trends, so we’ve only now started our marketing efforts in earnest.’
While that is cause for optimism, others have pointed out that there might be reason to believe Plainridge’s long-lasting prospects aren’t quite so rosy.
There’s always the possibility that the very first casino in the state sometimes appears as a novelty, and additionally, there are questions on how Plainridge will do after the larger resort casinos by having a wider assortment of offerings are opened in a few years.
‘ One would expect Plainridge to do well in the beginning, but whether that known levels off is going to be the question,’ Boston university video gaming specialist Richard McGowan told the Herald. ‘ whatever they require to do is build up some sort of loyalty to help keep people coming back after MGM’s Springfield casino and Wynn Resorts’ Everett casino open along with the bells and whistles.’
The $9 million that has been generated in tax revenue will primarily head to city and city governments through the state. In addition, about some of this money will support hawaii’s horse industry that is racing.
Casino Makes Payments to Town
The casino has currently started to benefit the city of Plainville as well.
A week ago, the casino signed over its first monthly check to its host community, part of $2.7 million in annual charges that will go to the town.
The giant, ceremonial check was made out for $277,000; typically, the month-to-month re payments are for $225,000, but this first payment covered both the ultimate week in June as well as the month of July.
Impact on Local Lottery Sales Seen
Meanwhile, the Massachusetts Lottery continues to be concerned about the possible impact of the casinos on its sales throughout the state.
Based on officials, there has already been a decrease that is slight sales at areas that are within a 15-minute drive of the Plainridge Park Casino.
‘Our company is still seeing strong numbers at retail agents such as convenience stores and gasoline stations that carry our items,’ stated Massachusetts Lottery Interim Executive Director Michael Sweeney. ‘Where we’re seeing some early decreases in that zone are in more of your restaurant, bar, lounge-type of places.’
DraftKings to Expand into UK
Jeffrey Haas, the industry veteran who has been hired to oversee DraftKing’s International expansion. (Image: pokerstrategy.com)
Day-to-day fantasy sports (DFS) site DraftKings announced this week it’s received a permit from the UK Gambling Commission (UKGC) and plans to go live with A dfs that is uk-facing product the fourth quarter of the year.
Last month, the Boston-based start-up was able to raise almost $300 million in funds to aid its planned worldwide expansion, with around $150 million of the originating from Fox Sports, for an 11 percent stake in the company.
DraftKings stated so it plans to move into European countries, Asia, and Latin America during 2016, and has hired Jeffrey Haas, formerly of PokerStars and bwin.party, to oversee the expansion.
‘DraftKings is well-poised for explosive growth internationally, and we am excited to lead their expansion efforts,’ said Haas, who’ll be based in the new London office. ‘Daily Fantasy Sports is a category that is growing North America, and we have a tremendous possibility to engage sports fans around the globe.’
New Concept for Brits
The move in to the UK is an interesting one.
The DFS concept will be a completely new one there while the country has one of the most developed gambling markets in the world.
DFS allows customers to bet on teams or recreations players during a given day, earning points in line with the performance of their picks. Users with the most points at the end of the day money out.
This is just a different possibility to regular fantasy recreations, which offers games that generally last a whole period.
They are already popular in the UK, particularly fantasy EPL soccer, although some of the major British gambling operators offer them for money.
DraftKings already provides regular Fantasy Soccer, and will no question hone this item for the UK market, as well as introducing more UK-centric sports, such as rugby and cricket.
‘ We will add new sports and games to our burgeoning roster of offerings and connect that is further to their favorite teams and players,’ confirmed DraftKings leader Officer Jason Robins. ‘We also welcome the opportunity to forge new partnerships with leagues, teams and media outlets internationally as we have done with excellent success in the United States.’
Will the UK Bite?
Whether DFS will have the kind that is same of impact as it has been doing into the US, in a market where individuals are free to bet on real-life sporting results, continues to be to be seen.
For a lot of Americans, DFS is the closest they have to placing a sports that are legal, while for the British, who are able to place bets from their cell-phones at the touch of a button at any time associated with the time or night, it’s going to be simply another gambling product, albeit an extremely engaging one.
What’s clear is that while DFS operators within the US argue that their products are ‘not gambling,’ hence justifying their exemption from UIGEA, into the UK, and most likely somewhere else, there clearly was no equivocation, and a full gambling license is required.
Borgata Responds to Ivey Countersuit
The Borgata has filed a reaction to Phil Ivey’s countersuit into the ongoing drama that is legal his 2012 baccarat wins during the casino. (Image: Vegas Review-Journal)
The Borgata Hotel Casino & Spa in Atlantic City has taken care of immediately a countersuit filed by professional poker player Phil Ivey, saying that their destruction of cards found in his controversial baccarat sessions were damaged before the casino became aware that anything dubious may have happened on those dates.
The response comes after lawyers for Ivey and Cheng Yin Sun filed the countersuit alleging that the Borgata had intentionally damaged the cards to be able to undermine his defense.
The dispute has ended four sessions that took place at the Borgata over the span of several months in 2012.
Ivey and Sun played baccarat in A vip that is private area winning a total of $9.6 million from the casino during the visits.
Borgata Becomes Suspicious After Crockfords Incident
The Borgata paid Ivey their winnings without incident.
But when Crockfords, a casino in London, refused to cover Ivey after he similarly won millions playing baccarat using them, the Borgata took notice and sued Ivey so as to recover their losses.
In both instances, the dispute is over Ivey’s use of a technique referred to as edge-sorting, one that is either an advantage play or even a form of cheating, depending on whom you ask.
Interestingly, the known facts in these situations are hardly in dispute by either side; it is in fact a matter of just how those things of the casino and Ivey should be interpreted.
In the baccarat sessions, Ivey and Sun asked the casino to make use of an extremely particular set of playing cards manufactured by Gemaco. Additionally they requested that the games be played with a shuffler that is automatic.
The casinos consented to these conditions, and were likewise compliant when Ivey asked dealers to turn the high cards in the footwear 180 degrees, ostensibly for superstitious reasons.
Whatever they didn’t realize was that the Gemaco cards under consideration were imperfectly cut, allowing Ivey to recognize which cards have club player no deposit been turned while looking at them face down.
Knowing whether specific cards had been high or low was enough to provide Ivey an advantage that is substantial the casino. In one particularly effective session in July 2012, Ivey won $4.8 million from the Borgata over the program of 17 hours.
Countersuit Alleges Deliberate Destruction of Proof
The defendants filed a countersuit, saying that the case should be dismissed due to the fact that the casino had destroyed the cards used in the games after the Borgata sued Ivey and Sun. They also sought fees that are legal damages under laws and regulations regarding the filing of frivolous lawsuits.
But in their response, the Borgata says that the cards were destroyed as a matter of due program, which took place before there is any dispute over the baccarat winnings.
‘Some of the cards utilized in the play at issue in this case were destroyed in the course that is regular of’s business operations, prior to plaintiff’s becoming conscious of defendants’ scheme and the defect in the playing cards, and pursuant to applicable regulations,’ the response read.
Attorneys for the Borgata also state that Ivey and Sun cannot recover damages because of their ‘fraudulent conduct,’ and state that the statute of limitations has expired regarding the allegations the defendants are making.
Ivey normally tangled up in a lawsuit that is similar Crockfords, in which he sued the casino in an effort to force them to pay him his winnings. While courts initially ruled and only the casino, an appeal is anticipated to be heard later this year.
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