- January 11, 2020
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 research into allegations that $40 million in payments was made to Rodolfo Soriano, one of Universal’s casino project consultants within the Philippines. Possibly the insinuation is that Soriano received the cash to grease some Filipino palms, but we’d never ever imply such thing, of course.
We can only report that both the FBI and the Philippines’ equivalent, the National Bureau of Investigation, are looking to the matter to see if anything improprietous ended up being done. Universal Entertainment has maintained that it acted lawfully in the Philippines; after all, who doesn’t give their professionals $40 million as a token of the esteem?
Meanwhile, nobody’s commenting: not the Nevada Gaming Control Board and certainly no one from Universal Entertainment. Possibly that’s why they call it hush money.
No Wrongdoing Alleged
That is where we have to explain that no one has really or officially been accused of doing anything, particularly anything wrong. you can see how it may look funny is all.
All this falls on the heels of Okada’s current resignation slash firing from the Board of Directors of Wynn Resorts; sensing he had been about to be deposed, Okada, ( who has been persona non grata at Wynn for many years now), resigned, but the Board returned with a collective flip down by firing him anyway with about a 98% approval vote the really next day.
Okada vs. Wynn
The battle with Wynn has been going on for years now, and, stop the presses, stems from issues Wynn has had with Okada over allegations of some economic improprieties (that sounds so much classier than ‘bribes,’ doesn’t it?) to Filipino heavyweights for his casino projects there. Nobody in the casino business likes to be associated with anyone whose hands could be dirty, ya understand.
Of course, Okada has had some allegations of his very own towards Wynn too, saying that their 20 percent stake in Wynn Resorts was illegally seized from him at a 30 percent discount, leaving him with only a promissory note worth some $1.9 billion that he can collect in 10 years. Oh, the cruel, cruel world of high-stakes finance.
Last thirty days, Wynn Resorts retracted some allegations that are former such as for instance that Universal had misappropriated trade secrets, that were initially filed in case on Feb. 19, 2012; the retractions signaled a triumph of types to Universal. Wynn Resorts remains unmoved, however.
‘It only illustrates our desire to target at the moment upon the breaches of fiduciary responsibility owed to your company,’ Wynn Resorts responded in a official statement. ‘The claim for theft of our trade secrets and proprietary company information will be ripe if and whenever Okada places them to use in their Phillipines casino, or elsewhere.’
Exactly What’s on the line
The Philippines’ government has placed lots of eggs in Okada’s container: they granted him four casino licenses to build and operate a dollar that is multibillion gambling and entertainment complex that could be on a par to compete with Macau and Singapore, two of the very most lucrative gaming income producers on the planet. Along side three other gaming developments here, it shall be understood as Pagcor Entertainment City.
No pressure whatsoever.
Chang Takes Down WPT Event for over 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 black diamond casino spokane a particularly tough and deep-stacked dining table, he was also awarded $25,000 entry into the WPT World Championship, to be held at Bellagio in vegas from May 18-24. Nice work if you may get it.
Big Names Duke It Out
Seated at the table that is final Chang had been a field of deep-stacked poker warriors, including Paul Volpe, who ultimately took third for the $435, 610 payday. It has been a hell of the for Volpe already, having taken home over $600,000 for second in the WPT L.A. Poker Classic only a little more than a week before, and finishing in the money in January’s PokerStars Caribbean Adventure 2013 as well year. Joe Nguyen took home second for $666, 740; he finished 29th in this event that is same 12 months for a $19,200 finish, so must have already been quite satisfied with that much better performance. Other top finishes were 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 prize.
Chang’s previous victories of note include 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 spot finish that same year in the WSOP Main Event. He bubbled the 2008 table that is final the L.A. Poker Classic in 2008, getting absolutely nothing but some TV coverage from it all.
The Action Builds
Chang entered the final table as fifth of sixth in chips on an universally deep-stacked dining table. Starting out by having a healthy 83 big blinds, he expanded to chip leader by the 42nd hand of the table that is final and remained at or close to the front runner right up to his first place finish. A combination of all deep piles and a very solid number of players generated no one even being eliminated until the hand that is 79th.
Things moved a bit faster once action got right down to the heads-up match between Chang and Nguyen. It only took six hands for Chang to knock Nguyen out having a straight to Nguyen’s missed diamond flush draw.
The next WPT occasion will be in Venice, Italy on March 25 and will also be televised.
Minted Poker Tells Their Players to Cash Out
Minted Poker is fed up and embarrassed with the network they currently call home, the Everleaf Gaming Network, and is telling their players to cash out their money immediately. This is because of what they call ’embarrassing’ cash away delays on the system, with most withdrawals using 6 months or even more to process, of this ones which can be actually being processed at all.
Along with telling their players to cash out, they have additionally advised players to take a few actions in an attempt 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 dealing with issues within their jurisdiction and enforcing their guidelines.
The LGA recently released a statement saying they had looked into the issue of withdrawals at Everleaf and found that a majority of players had been paid to that end. That declaration was quickly refuted by group of several players who stated the most of their withdrawals nevertheless had not been processed significantly more than 9 months after the fact. The LGA added which they would continue to monitor Everleaf to ensure funds were being properly paid out to the players on its network.
Minted had also taken the extreme step to block all deposit choices to their site; this for the sake of unique players not to sink more money to the community, along with to try and spur Everleaf into action. However, Everleaf has remained unresponsive throughout the fiasco, which certainly brings their credibility that is current into.
Minted Poker is in the procedure of moving to a new network, and hopes their players’ cash balances will be transferred once that move is completed. Aided by the state that is apparent of at Everleaf nevertheless, it is perhaps not probable that may come to pass in short order.
Minted Poker is just certainly one of several ‘skins’ on the Everleaf system. A number of the dozens of other web sites on the community include bluffbet.com, palmbet.com, pokerutd.com, and valhallapoker.com. Traffic on the network has drastically decreased within the month that is last Everleaf banning U.S players due to threatened legal action by the Department of Homeland Security. U.S players who had accounts have been unable to withdraw their funds since the move.
PokerStars Battles It Out with the American Gaming Association
A report from Forbes magazine previously this week stated that Caesars Entertainment Corporation, the largest gaming that is land-based in the planet, has attempted to offload two of its most well known and recognisable brands to on line poker firm PokerStars.
‘Caesars Entertainment approached PokerStars and agreed to sell us assets that are certain as the Rio Casino in nevada,’ stated head of corporate communications for PokerStars, Eric Hollreiser. ‘Caesars Entertainment proposed that this acquisition would give us a better relationship with Caesars Entertainment and would help PokerStars gain a license in Nevada.’
Based on the magazine, PokerStars was approached last month by an unnamed executive representing Caesars Entertainment to talk about a preliminary deal for PokerStars to take the Rio All-Suite Hotel on and Casino, because well as the World group of Poker brand.
However, Hollreiser explained that PokerStars chose to decline the offer because the firm had no plans 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 will allow it to submit application to the newest Jersey Casino Control Commission for an intrastate online poker license.
However, the plan to submit such an application has been somewhat tainted following a brief opposing pokerstars proposed purchase for the Atlantic Club Casino and Hotel by the United states Gaming Association (AGA).
The AGA submitted a 24-page ‘not-so-brief’ to the newest Jersey Casino Control Commission and Division of Gaming Enforcement stating that the Rational Group US Holdings is a ‘business built on deceit, chicanery while the systematic flouting of United States law’.
‘Any action allowing PokerStars to be licensed would send a message that is damaging the world of video gaming also to the planet beyond video gaming that organizations that engage in chronic lawbreaking are welcome in the licensed gaming business,’ stated the brief, as if attempting to prevent online gaming Armageddon.
If the AGA be successful in blocking PokerStars’ plans to buy the venue for $50 million, a reported 2,400 jobs could possibly be at risk.
In reaction to the schoolyard-type chants of the AGA, Eric Hollreiser called upon the New Jersey Casino Control Commission and Division of Gaming Enforcement to come to their own conclusion considering ‘expert regulators’ and suggested that the AGA was simply ‘picking a fight that is public using the firm. He added that PokerStars was deemed suitable for application to a license in America by the U.S. Department of Justice.
‘We works with authorities including the New Jersey regulators and other state that is interested to talk about our qualifications and invite them to comment on just what they find,’ stated Hollreiser.
‘PokerStars is amongst the largest and most respected internet gaming organizations because we work closely with regulators and are in good standing with governments throughout the world holding licenses in France, Germany, Italy, Spain, Denmark, Estonia, Belgium, Malta and the Isle of Man.’
‘we shall continue to work absolutely with regulators in New Jersey and somewhere else each time they review our qualifications,’ he completed.
Should Hollreiser’s good-light-shedding statements be believed, we have to concern the motive behind the AGA’s squabble-like claims. After all, then perhaps PokerStars deserves a little more consideration than the AGA is willing to give if the largest land-based gaming firm in the world sees fit to offer two of their most prized brands to the firm.