It’s good to become a casino industry lobbyist or lawyer New that is representing Jersey gaming, based on the latest reports (Image: thepublici.com)
Everybody understands that whenever it concerns gambling, the house always wins. In the full case of online gambling in New Jersey, it appears that the lobbyists and attorneys do pretty well on their own, too.
Support Services Make Bank
Based on disclosures posted by the 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 numbers arrived just days before the first revenue figures are scheduled to be released for New Jersey casino sites, and are part of an unusual requirement in New Jersey that demands disclosures for several expert payments.
‘Many states have statutes requiring public disclosure of profits by lobbyists, including New Jersey, but this is the first-time we have ever been aware of a gaming regulatory agency requiring disclosure of payments to lawyers,’ said Nicholas Casiello Jr., a lawyer utilizing the Fox Rothschild company’s gaming team in Atlantic City.
This first report covered everything from July 2009 through December 2013, with future reports being made public for a basis that is quarterly.
The biggest ‘winner’ in terms of legal services was Brownstein Hyatt Farber Schreck, L.L.P., which made $1.89 million in legal fees. That’s in addition to another $2.83 million from activities described as a mix between lobbying, consulting and legal services, bringing their haul that is total to4.72 million.
However, the disclosures additionally showed precisely how site that is unclear had been about what precisely they had to report. A few 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 particular level of detail into the reporting varied greatly because well. The Borgata just reported two groups of payments: someone to a law firm, plus one with a group that is lobbying. Having said that, Amaya Gaming Group and Ultimate Gaming included precisely what might possibly be relevant, down to a payment of $19,380 to a mathematician to help develop online games.
Lobbying firms did rather well, collecting an overall total of $3 million from firms in the industry since 2009. The chunk that is biggest of that money went to Public Strategies Impact, which took in $37,500 every quarter from Caesars Entertainment. Some individuals were reported to have received large payments, too: TV poker personality Mike Sexton took in between $100,000 and $300,000 per year from Bwin.Party in an effort to be their brand ambassador.
Not Totally All Were Revealing
Perhaps the more surprising facet of the disclosures was which and how many companies involved in New Jersey’s online gambling industry really complied with the necessity to reveal payments. According to reports, only about 40 percent associated with organizations that will have now been necessary to file ‘Web Gaming Disclosure Statements’ actually bothered doing so. However, that number is just a bit misleading, as every one of the major players in the industry presented their statements, while additional companies included in the industry were spottier in their participation.
‘Each of hawaii’s 11 casinos has filed and all sorts of seven of the state’s licensed Internet platform providers have filed the division’s disclosure form,’ said Lisa Spengler, spokesperson for the Division of Gaming Enforcement. ‘The unit intends to follow up with licensed vendors that have actually not yet submitted an answer.’
Unlucky descent that is seven-Year Atlantic City Falls Below $3 Billion
It’s been a seven-year run of bad luck for Atlantic City’s casinos, revenue-wise. (Image: Moonbeam 13)
It’s amazing just what an improvement seven years will 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 into the city’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 figure that is exact was released recently by the New Jersey Division of Gaming Enforcement came to $2.86 billion, or close to a five % drop from the $3 billion the casinos brought in during 2012.
There have been many contributing factors over the years that have actually kept the losing streak going for Atlantic City’s casinos. But whilst the 2008 recession and the damaging ramifications of Hurricane Sandy in 2012 definitely hurt the gambling resort, the true number one cause for the decrease has been increased competition from nearby casinos.
In reality, the downturn coincides exactly with the 12 months when the region started getting ultimately 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. These day there are 12 Pennsylvania casinos, so when of 2012, they were bringing much more money in total than their Atlantic City counterparts.
The decline had real-world implications at the start of 2014, as the Atlantic Club Casino Hotel shut down mid-January, leaving the populous city with only 11 operating casinos.
Can Online Gambling Save the afternoon?
But, industry insiders state 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 approaching year.
‘Obviously it’s disappointing to see another year where it is a decline,’ said Tony Rodio, head of the Casino Association of nj and president associated with Tropicana Casino and Resort, which snatched up a little bit of the Atlantic myfreepokies.com Club and will be using the majority of the casino’s gaming gear. ‘But hopefully with the addition of Internet gambling, we think you’re going to see an increase in 2014.’
The 2013 figures that are annual the first-ever to consist of online gambling revenue in brand New Jersey, as hawaii’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 the revenue was split between the Borgata and Caesars Interactive, which combined to bring in $6.1 million of that total.
The largest winner of all was the Borgata, which won $3.7 million on its PartyPoker-branded online gambling sites.
‘ Our network has attracted the pool that is largest of players in the brand new Jersey online market, allowing us to offer our customers a broad collection of games and table stakes at all times,’ said Keith Smith, president of Boyd Gaming (a firm that owns half of the Borgata). ‘This gives our community a significant advantage that is competitive positions us for further success.’
According to Smith, there was also evidence that the online casinos were bringing in additional revenue, in place of simply money that is shifting land-based operations to the Web.
‘When matching our online and land-based databases, we unearthed that 60 percent of online casino customers wasn’t to Borgata in over a year, and over 75 per cent had made fewer than two trips to Borgata into the year that is past’ said Smith. ‘And for a basis that is combined on line and land-based poker revenue at Borgata was up more than 40 percent from our land-based play in December 2012. Clearly, online gaming is complementary to our land-based business, perhaps not competitive.’
Nevertheless, it’s not yet certain whether online gambling shall be the town’s financial 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 web 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 way (Image: BSO.com)
Into the arena that is overcrowded of to get your name nowadays, sometimes you simply need to think outside the box. This is the thinking, apparently, of the marketing geniuses at 888.com, an online poker site now licensed within the newly launched New Jersey Internet casino marketplace, when they offered ny Giants wide receiver Hakeem Nicks $88,800 to legally change his name to 888.com.
Anything for Attention
While pretty obviously only a publicity stunt getting shmucks like us to write up the story, it is unlikely that a check for under $89K will probably get yourself a pro football player all that excited; heck, these guys spend that much on bottle solution on any given nevada weekend. But it’s a catchy pr release plus an amusing concept. More than that, it appears to be at least in part in response to week that is last first-time-ever marketing alliance between an on-line poker site partypoker.com and two major sports that are pro: the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils.
Of course, ya gotta have a gimmick, as Gypsy Rose Lee once said ( at the very least into the musical about her), which means this is 888’s.
‘We’re excited that 888.com is up and running in New Jersey,’ 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 think of 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 views this being a gesture to keep and being an opportunity to benefit a local charity that he supports. so we wish’
Never hurts to put in certain community feel-good elixir either, does it.
Nicks Not Biting
Additionally not too surprisingly and vaguely reminiscent of a current cryptocurrency launch that used Kanye West’s name despite the fact that he had no actual involvement with the product Nicks hasn’t responded, let alone stated yay or nay. It is been a year that is tough Nicks; he caught 56 passes for 896 yards, giving him on average 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 whole season without reaching the end area.
While no one actually thinks he will take 888 up on this offer that is creative least maybe not only at that price if he did opt to go ahead, there’s a whole bunch of documents to be mindful 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.
Then trade in his current team jersey for a new one saying ‘888’ which would be a publicity victory worth a whole bunch more than $88,800 for the poker site if that were to happen and there is the precedent of Ocho Cinco, who changed his name from the more mundane Chad Johnson back in 2008 Nicks would.