Chang Takes Down WPT Event for longer than a Million
Okada to Meet with Gaming Control Board Over Foreign Payments
The Nevada Gaming Control Board has called in Japanese billionaire tycoon and previous Wynn director Kazuo Okada, along side three other directors of his Universal Entertainment Corp., for a closed-door hearing week that is next. It is all right part of the Control Board’s ongoing investigation into allegations that $40 million in payments ended up being made to Rodolfo Soriano, certainly one of Universal’s casino project consultants in the Philippines. Possibly the insinuation is that Soriano received the money to grease some Filipino palms, but we’d never ever imply such thing, of course.
We are able to only report that both the FBI and the Philippines’ equivalent, the National Bureau of Investigation, happen looking to the matter to see if anything improprietous ended up being done. Universal Entertainment has maintained that it acted lawfully in the Philippines; most likely, who doesn’t give their experts $40 million being a token of these esteem?
Meanwhile, nobody’s commenting: not the Nevada Gaming Control Board and certainly no one from Universal Entertainment. Perhaps that’s why they call it hush cash.
No Wrongdoing Alleged
This is where we have to explain that no one has actually or officially been accused of doing any such thing, particularly anything wrong. But you can see how it might look funny is all.
All this falls on the heels of Okada’s present resignation slash firing from the Board of Directors of Wynn Resorts; sensing he was about to be deposed, Okada, ( that has been persona non grata at Wynn for quite some years now), resigned, but the Board came back with a collective flip down by firing him anyway with about a 98% approval vote the very day that is next.
Okada vs. Wynn
The struggle with Wynn has been going on for years now, and, stop the presses, stems from dilemmas Wynn has had with Okada over allegations of some monetary improprieties (that sounds so classier that is much ‘bribes,’ doesn’t it?) to Filipino heavyweights for his casino projects here. No one in the casino company likes to be associated with anyone whose hands might be dirty, ya know.
Of course, Okada has already established some allegations of his own towards Wynn too, saying that their 20 percent stake in Wynn Resorts was illegally seized with only a promissory note worth some $1.9 billion that he can collect in ten years from him at a 30 percent discount, leaving him. Oh, the cruel, cruel world of high-stakes finance.
Last thirty days, Wynn Resorts retracted some allegations that are former such as for example that Universal had misappropriated trade secrets, that were initially filed in a lawsuit on Feb. 19, 2012; the retractions signaled a triumph of kinds to Universal. Wynn Resorts remains unmoved, however.
‘It only illustrates our desire to focus at the moment upon the breaches of fiduciary duty owed to your company,’ Wynn Resorts responded in an official statement. ‘The claim for theft of our trade secrets and proprietary company information will be ripe if and when Okada sets them to utilize in his Phillipines casino, or elsewhere.’
Just What’s at Stake
The Philippines’ government has placed lots of eggs in Okada’s container: they granted him four casino licenses to build and operate a multibillion dollar manila gambling and entertainment complex that will be on a par to compete with Macau and Singapore, two of the most extremely lucrative video gaming income producers on the planet. Along side three other video gaming developments here, it shall be known as Pagcor Entertainment City.
No pressure whatsoever.
Chang Takes Down WPT Event for longer than a Million
It’s every poker player’s dream: to master a major tournament and collect a seven-figure score. That dream came true for relatively unknown Kai that is pro Chang week at World Poker Tour (WPT) Bay 101 Shooting Star’s 2013 event.
Not merely did Chang win $1,138,350 for defeating a particularly tough and deep-stacked table, he was also awarded $25,000 entry into the WPT World Championship, to be held at Bellagio in Las vegas, nevada from May 18-24. Nice work if you can get it.
Big Names Duke It Out
Seated at the last table with Chang were an industry of deep-stacked poker warriors, including Paul Volpe, who ultimately took third for the $435, 610 payday. This has been a hell of a year for Volpe currently, having taken home over $600,000 for second into the WPT L.A. Poker Classic a little more than a week before, and finishing in the cash in January’s PokerStars Caribbean Adventure 2013 as well. Joe Nguyen took home second for $666, 740; he finished 29th in this same event last year for a $19,200 finish, so must are quite pleased about anywhere near this much better performance. Other finishes that are top renowned poker pro Eric Seidel for $295, 590 in fourth; Chris Johnson in fifth spot for $208, 910; and Joe Kuether in sixth for a $162, 240 reward.
Chang’s past wins of note add a 2006 second-place finish in the $10,000 World Series of Poker (WSOP) Circuit event at Harrah’s Rincon, as well as a 40th place finish that same 12 months in the WSOP Main Event. He bubbled the 2008 table that is final the L.A. Poker Classic in 2008, getting nothing many television coverage from it all.
The Action Builds
Chang entered the last table as fifth of sixth in chips on an universally deep-stacked table. Starting out by having a healthy 83 big blinds, he expanded to chip leader by the 42nd hand of this final table, and remained at or near to the leading runner right up to his first place finish. A combination of all deep stacks and a really solid number of players resulted in no one even being eradicated until the 79th hand.
Things moved a bit faster once action got down to the heads-up match between Chang and Nguyen. It only took six hands for Chang to knock Nguyen out with a straight to Nguyen’s missed diamond flush draw.
The WPT that is next event be in Venice, Italy on March 25 and you will be televised.
Minted Poker Tells Their Players to Cash Out
Minted Poker is given up and embarrassed utilizing the network they currently call home, the Everleaf Gaming Network, and is telling their players to cash out all of their money immediately. This is because of what they call ’embarrassing’ cash down delays regarding the network, with most withdrawals taking 6 months or more to process, associated with ones that are actually being processed at all.
Along with telling their players to cash out, they will have also advised players to take actions that are several an effort to force Everleaf into action. One would be to file complaints with the Lotteries and Gaming Authority(LGA) of Malta, although the LGA has a sketchy reputation for working with issues within their jurisdiction and enforcing their guidelines.
To that end, the LGA recently released a statement saying they had looked at the problem of withdrawals at Everleaf and found that the bulk of players was in fact compensated. That declaration was quickly refuted by a combined group of several players whom advertised the majority of their withdrawals nevertheless had not been processed more than 9 months after the fact. The LGA included which they would continue to monitor Everleaf to make certain funds had been being properly paid away to the players on its network.
Minted had even taken the step that is drastic block all deposit choices with their site; this for the sake of their very own players to not sink more money into the system, along with to attempt to spur Everleaf into action. Nevertheless, Everleaf has remained unresponsive throughout the fiasco, which certainly brings their credibility that is current into.
Minted Poker is within the procedure of moving to a network that is new and hopes their players’ money balances will be transferred once that move is finished. Because of the apparent state of disarray at Everleaf nonetheless, it is not probable that will come to pass in a nutshell order.
Minted Poker is just one of several ‘skins’ on the Everleaf Network. A number of the dozens of other sites on the community include bluffbet.com, palmbet.com, pokerutd.com, and valhallapoker.com. Traffic on the network has drastically decreased within the last month following Everleaf banning U.S players due to threatened appropriate action by the Department of Homeland Security. U.S players who had accounts also have been unable to withdraw their funds since the move.
PokerStars Battles It Out with the United States Gaming Association
A report from Forbes magazine previously this week stated that Caesars Entertainment Corporation, the largest land-based gaming firm in the entire world, has recently tried to offload two of its preferred and recognisable brands to online poker firm PokerStars.
‘Caesars Entertainment approached PokerStars and offered to sell us certain assets such as the Rio Casino in nevada,’ stated head of business communications for PokerStars, Eric Hollreiser. ‘Caesars Entertainment recommended that this acquisition would provide us with a better relationship with Caesars Entertainment and would assist PokerStars gain a license in Nevada.’
Based on the magazine, PokerStars was approached last thirty days by an unnamed executive representing Caesars Entertainment to discuss a preliminary deal for PokerStars to take the Rio All-Suite Hotel on and Casino, since well as the planet number of Poker brand name.
However, Hollreiser explained that PokerStars chose to decline the offer because the firm had no intends to ‘acquire another casino in the near term’. Currently, the online video gaming operator is amidst the process of buying the Atlantic Club Casino and Hotel in Atlantic City which would allow it to submit application to the latest Jersey Casino Control Commission for an intrastate online poker license.
However, the program to submit such an application has been somewhat tainted following an opposing that is brief proposed purchase associated with Atlantic Club Casino and Hotel by the United states Gaming Association (AGA).
The AGA submitted a 24-page ‘not-so-brief’ to this new Jersey Casino Control Commission and Division of Gaming Enforcement stating that the Rational Group US Holdings is a ‘business built on deceit, chicanery therefore the flouting that is systematic of States law’.
‘Any action allowing PokerStars to be licensed would send a damaging message to the realm of gaming and also to the world beyond video gaming that organizations that engage in chronic lawbreaking are welcome in the licensed gaming business,’ stated the raging bull casino login brief, as if attempting to avoid online gaming Armageddon.
Should the AGA be successful in blocking PokerStars’ plans to shop for the venue for $50 million, a reported 2,400 jobs might be in danger.
In reaction to your schoolyard-type chants of the AGA, Eric Hollreiser called upon the nj-new Jersey Casino Control Commission and Division of Gaming Enforcement to come calmly to their own conclusion centered on ‘expert regulators’ and suggested that the AGA was simply ‘picking a public fight’ with the company. He added that PokerStars was deemed suitable for application to a license in America by the U.S. Department of Justice.
‘We will work with authorities including the New Jersey regulators and other state that is interested to discuss our qualifications and allow them to comment on just what they find,’ stated Hollreiser.
‘PokerStars is among the largest & most respected internet gaming organizations because we work closely with regulators and are in good standing with governments all over the world licenses that are holding France, Germany, Italy, Spain, Denmark, Estonia, Belgium, Malta and the Isle of Man.’
‘we shall continue steadily to work definitely with regulators in nj and somewhere else whenever they review our qualifications,’ he finished.
Should Hollreiser’s good-light-shedding statements be believed, we’ve to question the motive behind the AGA’s squabble-like claims. After all, if the largest land-based gaming company on the planet sees fit to offer two of their most prized brands to the company, then perhaps PokerStars deserves just a little more consideration than the AGA is willing to offer.