New Jersey Residents Slowly Warming to Casino Expansion Efforts into Northern Region

New Jer<span id="more-12091"></span>sey Residents Slowly Warming to Casino Expansion Efforts into Northern Region

New Jersey Governor Chris Christie is fed up with how local leaders have governed Atlantic City’s economic crash.

New Jersey residents have been fighting their state’s push to allow two gambling enterprises to be built within their north counties, but a recent poll shows that the numbers are actually beginning to shift away from opposition and towards support.

But even with that shift, there’s still a way that is long get for legislators to win over the support of this majority of their constituents.

A survey by Fairleigh Dickinson University released this week shows 50 percent of brand New Jerseyans remain opposed to casino expansion, meaning Atlantic City’s brick-and-mortar monopoly would stay static in tact, while 42 percent stated they favor allowing the area that is northern to maneuver forward. That’s a drastic modification from as recently as June, when 56 per cent opposed expansion and just 37 % favored it.

‘The public continues to be skeptical,’ Fairleigh University Professor Krista Jenkins said. ‘Due to the fact information on the legislature’s intentions become known, the public’s opinions will be impacted.’

Atlantic City Bankruptcy

The issue in determining whether two gambling enterprises should be allowed to be built over the Hudson River from Manhattan is twofold.

Lawmakers in nj-new jersey are searching for brand new sources of revenue to finance expenditures and debt that is escalating. Locating casinos closer to the numerous millions of New York City and North Jersey residents would likely do just that, but it would presumably also drastically cut into Atlantic City’s already economy that is dire.

Neighborhood leaders within the seaside gambling resort town are requesting additional state aid, but State Senate President Stephen Sweeney (D-District 3) recently introduced legislation for the state takeover of Atlantic City’s finances. Governor Chris Christie (R) sided with Sweeney this by vetoing three relief rescue packages week.

‘ The governor is not going to ask the taxpayers to continue to be enablers in this abuse and waste,’ Christie spokesman Kevin Roberts stated.

Christie’s veto has led Atlantic City Mayor Don Guardian to jeopardize bankruptcy. That could potentially hurt the state’s overall credit rating while increasing borrowing prices for Trenton.

To file for bankruptcy, the state legislature and Christie would need to accept the action, which appears very unlikely.

‘My goal is to save Atlantic City and to avoid bankruptcy,’ Sweeney has said.

Atlantic City is $240 million in debt, $33.5 million short on its municipal budget, and owes the Borgata $160 million in home income tax overpayments. Permitting the town to file for bankruptcy would allow Atlantic City to pay only cents on the dollar on those debts.

Spend Money to Lose Money

Leaders in Trenton recognize that competition from neighboring northeastern states has generated a struggle that is economic Atlantic City. Brick-and-mortar casino venues now surround what was after the sole gambling mecca of the East Coast, with Pennsylvania, New York, Delaware, and Maryland all now gambling-friendly jurisdictions.

The problem, at minimum within the minds of state lawmakers, is that regional officials have done small to overhaul spending and adjust to the changing market.

Atlantic City generated $5.2 billion in income in 2006. It earned less than half that, just $2.56 billion, in 2015.

Sweeney thinks the city’s $262 million budget is negligent for an area with under 40,000 residents.

It’s shaping up to be a rather exciting political year in New Jersey. Come November, not merely will citizens in the Garden State possibly see their governor while the Republican nominee for president (although that still looks like a shot that is long this juncture), they will also likely be faced with a series of decisions to make regarding exactly how to rescue, or perhaps bid adieu, to Atlantic City while they’ve known it for many years.

Poker Pro Phil Ivey Expands His Empire with Daily Fantasy Sports Site

Poker pro Phil Ivey is gambling on the continued rise of day-to-day fantasy activities through his latest business undertaking, PhilIveyDFS. (Image: Tom Donaghue/AP Pictures)

PhilIveyDFS, a new fantasy that is daily platform brought to you by poker star Phil Ivey, will soon begin offering daily fantasy sports (DFS) contests on a number of leagues including the NFL, NBA, MLB, and NHL.

Ivey is no stranger to games outside of poker, the game which includes made him a family group name and undoubtedly a multimillionaire. The habitual gambler made headlines recently for side sorting cards while playing baccarat in both Atlantic City and London, in cases that have both involved protracted legal battles over payouts utilizing the casinos included.

The New Jersey native who now resides in vegas is turning his attention to DFS in what he hopes will be his next successful business endeavor. Ranked fifth in all-time live poker earnings with nearly $24 million in real time winnings and third online that is all-time $10.4 million, Ivey is also notorious for losing vast sums during down streaks.

Considered one of the most extremely talented poker players the overall game’s ever seen, Ivey’s relocate to invade DFS emphasizes the growing popularity of daily dream competitions.

Ivey’s Team

Unlike DFS market power players DraftKings and FanDuel, PhilIveyDFS isn’t building a platform from scratch or attempting to form their standalone community that is own of. Rather, the poker celebrity is teaming using the iTEAM Network that offers a turnkey DFS platform for clients.

iTEAM provides software solutions for companies and brands thinking about venturing into DFS that do not have the abilities or player bases to sensibly launch their site that is independent. That means that Ivey is hardly the company’s only client, of program.

In fact, iTEAM hosts numerous DFS pages, you wouldn’t know it as the company replaces their branding utilizing the client’s, which in this situation is going to be Phil Ivey.

The platform connects player that is various to generate bigger contests with larger payouts, a key necessity in order to have chance of rivaling market leaders DraftKings and FanDuel, which are both valued at over one billion dollars each.

‘Adding the Phil Ivey brand will substantially increase player that is network-wide and prize pools,’ iTEAM CEO Gabe Hunterton stated. ‘ We now have already started a marketing that is aggressive execution plan in which PhilIveyDFS users should be able to compete immediately for more than $20,000 in weekly pro basketball contests and interact directly with Phil.’

Although that sort of award pool is absolutely nothing to sneeze at, it pales in contrast to DraftKings’ upcoming $4 million Fantasy Basketball World Championship.

Fighting the Law

The surroundings surrounding day-to-day fantasy games is certainly complex. Lawmakers over the US are furiously attempting to determine if the marketplace is appropriate.

Some leaders say the contests should be permitted, others are asking for further investigation, and then there’s New York State Attorney General Eric Schneiderman, who wants to penalize DFS operators towards the tune of billions of dollars.

It’s a precarious predicament that remains unresolved.

DFS operators have already been sent out of city on a rail by Nevada’s Gaming Commission after the Silver State’s attorney general, Adam Laxalt, declared that it is not legal.

But Ivey, through the use of a third-party platform, is seemingly hedging his bets by having iTEAM as the actual operator. That will be one of several reasons this network was chosen by the poker player.

‘I ended up being honored to have multiple options but iTEAM Network’s focus on compliance and the core technology … ultimately made it a pretty simple decision,’ Ivey said.

Federal Court Rules for Amaya in Illinois Loss Recovery Case, Could Kentucky Case Outcome that is affect Also

In Illinois, Federal Appeals Judge Richard Posner dismissed a situation to claw back gambling losings from PokerStars on the grounds that rake does not winnings that are equal. (Image:

Amaya will not be necessary to pay back money lost by Illinois gamblers on PokerStars before Black Friday, a federal court has ruled.

The Court of Appeals for the Seventh Circuit a week ago upheld the earlier judgement of an Illinois court that the nineteenth century law built to presumably protect both players who may have been swindled with a hustler back within the time, as well as the families of destitute gamblers, may possibly not be invoked in a effort to claw back money from PokerStars.

The initial case had been brought by two Illinois mothers, who had been seeking reimbursement for cash lost by their sons, along with other players. The foundation of these claim is definitely an statute that is old in the publications called the Illinois Loss Recovery Law, which permits losing gamblers to sue winners for the return of the losses.

The law states:

Any person whom by gambling shall lose to any other person, any amount of cash or thing of value, amounting to the sum of $50 or many shall pay or deliver the same or any part thereof, may sue for and recover the cash or other thing of value, therefore lost and paid or delivered, in an action that is civil the winner thereof, with expenses, in the circuit court…

Statute of Very Few Limitations

The statute also theoretically permits third parties to recover up to three times the quantity lost. The winnings if a losing gambler does not sue the winner within six months, then ‘any person’ can claim up to three times.

While the 2 mothers claimed their sons had lost $50 each playing at PokerStars, these were, in fact, seeking to reclaim an amount that is undisclosed behalf of other random Illinois losers too, possibly running into the millions.

The judge within the original case criticized the suit for neglecting to meet with the legal thresholds, and failing to cite any certain ‘winning players’ or the times on which the alleged losses happened. He additionally made the distinction that is important rake charged by PokerStars could not be defined as ‘winnings,’ and so PokerStars wasn’t the ‘winner’ at all.

Not Winning

A three-judge panel in the federal appeals court agreed with this summary.

‘Their problem is that the defendants are perhaps not the champions of any game that any for the plaintiffs (or their sons) played,’ wrote Judge Richard Posner with respect to the panel. ‘Charging a fee for engaging in gambling is different then winning a gamble; a croupier who supervises a casino’s poker game isn’t a gambler, let alone a success.’

It is a point that appears to be lost on the State of Kentucky, that will be attempting to sue Amaya for a $870 million on a basis that is similar using a similarly antiquated state law, except that in that instance, the money would go to the state if successful.

Amaya is taking heart from the federal judgment in Illinois.

‘Our company is pleased with this decision which is applicable a modern sense that is common to an out-of-date gambling law,’ said Eric Hollreiser, vice-president of communications for Amaya and PokerStars. ‘We certainly hope that Kentucky courts apply the same modern logic.’

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