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It’s good to be a casino industry lobbyist or lawyer New that is representing Jersey gaming, according to the latest reports (Image: thepublici.com)
Everyone else knows that when it comes to gambling, the homely house always wins. In the full case of online gambling in New Jersey, it appears that the lobbyists and lawyers do pretty well for themselves, too.
Help Services Make Bank
According to 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 figures arrived just days before the first revenue figures are scheduled to be released for brand New Jersey casino web sites, and are part of an unusual requirement in brand New Jersey that demands disclosures for many 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 heard about a gaming regulatory agency requiring disclosure of payments to lawyers,’ stated Nicholas Casiello Jr., a lawyer utilizing the Fox Rothschild company’s video gaming team in Atlantic City.
This first report covered everything from July 2009 through December 2013, with future reports being made public on a basis that is quarterly.
The biggest ‘winner’ in terms of legal solutions 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 mixture between lobbying, consulting and legal services, bringing their haul that is total to4.72 million.
However, the disclosures also showed how site that is unclear had been about what exactly they had to report. A number of the reports featured payments associated to lobbying outside of Internet gaming issues, while others included expenses that came from on the web gambling efforts in other states.
The level of detail within the reporting diverse greatly as well. The Borgata merely reported two categories of re payments: anyone to an attorney, and another with a group that is lobbying. Having said that, Amaya Gaming Group and Ultimate Gaming included exactly what might possibly be relevant, down to a payment of $19,380 up to a mathematician to help develop games that are online.
Lobbying companies did instead well, collecting a total of $3 million from companies on the market 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 a year from Bwin.Party in order to be their brand ambassador.
Not Totally All Were Revealing
Perhaps the more surprising aspect of the disclosures was which and how many companies involved in brand New Jersey’s online gambling industry actually complied with the necessity to disclose payments. According to reports, only about 40 percent of this companies that should have been needed to file ‘Web Gaming Disclosure Statements’ actually bothered to do so. However, that number is a bit misleading, as most of the players that are major the industry submitted their statements, while additional organizations included in the industry were spottier in their involvement.
‘Each of the state’s 11 casinos has filed and all sorts of seven of their state’s licensed Internet platform providers have filed the division’s disclosure type,’ said Lisa Spengler, representative for the Division of Gaming Enforcement. ‘The unit intends to follow up with licensed vendors that have not yet submitted a response.’
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 exactly what a significant difference seven years can make. Atlantic City which was going strong and winning $5.2 billion from gamblers in 2006 has seen seven straight several years of declining revenues, culminating within the town’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 launched recently by this new Jersey Division of Gaming Enforcement came to $2.86 billion, or near to a five percent drop from the $3 billion the casinos brought in during 2012.
Triple Whammies
There have been many factors that are contributing the years that have actually held the losing streak going for Atlantic City’s casinos. But while the 2008 recession while the damaging ramifications of Hurricane Sandy in 2012 definitely hurt the gambling resort, the true number one basis for the decrease was increased competition from nearby casinos.
In fact, the downturn coincides exactly with the 12 months if 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, and also as of 2012, they were bringing much more money in total than their Atlantic City counterparts.
The decline had real-world implications at the beginning of 2014, as the Atlantic Club Casino Hotel shut down mid-January, leaving the city with only 11 operating casinos.
Can Internet Gambling Save the Day?
However, industry insiders say in 2014, as the introduction of online gambling should provide a much-needed boost in revenues during the coming year that they expect this trend to reverse itself.
‘Obviously it’s disappointing to see another where it’s a decline,’ said Tony Rodio, head of the Casino Association of New Jersey and president of the Tropicana Casino and Resort, which snatched up a piece of the Atlantic Club and will be taking most of the casino’s gaming equipment year. ‘But hopefully by adding Internet gambling, I think you are going to see an increase in 2014.’
The 2013 figures that are annual the first-ever to consist of on the web gambling revenue in New Jersey, as the state’s Web casino market opened in late November. Overall, casinos took in $8.4 million in winnings during that time. The lion’s share of this revenue ended up being split between the Borgata and Caesars Interactive, which combined to bring in $6.1 million of that total.
The winner that is largest 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 this new Jersey online market, allowing us to offer our customers an extensive selection 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 system a significant advantage that is competitive positions us for further success.’
According to Smith, there was also proof that the online casinos were bringing in additional revenue, in the place of simply money that is shifting land-based operations to your Web.
‘When matching our online and land-based databases, we found that 60 percent of on line casino customers wasn’t to Borgata in over per year, and over 75 per cent had made fewer than two trips to Borgata into the past year,’ said Smith. ‘And for a basis that is combined online 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 business that is land-based competitive.’
Still, it’s not yet certain whether online gambling shall be the town’s economic savior. Overall, casinos took in $222 million in December 2013 including their websites on the internet which was still down slightly from the $223.5 million they took in during December 2012.
Poker Site 888 Wants Hakeem Nicks to Add an 8 to His Jersey
NY Giants wide receiver Hakeem Nicks will have an extra ‘8’ on his team jersey, if poker site 888.com gets their method (Image: BSO.com)
In the arena that is overcrowded of to get the name available to you, sometimes you just have to think outside the box. That is the thinking, apparently, for the marketing geniuses at 888.com, a poker that is online now licensed into the newly launched New Jersey Web casino marketplace, when they offered New York Giants wide receiver Hakeem Nicks $88,800 to legally change his name to 888.com.
Anything for Attention
While pretty demonstrably just a publicity stunt to get shmucks like us to write the story up, it’s unlikely that a search for under $89K is going to get yourself a pro football player all that excited; heck, these guys spend that much on bottle service on any given nevada week-end. But it’s a catchy press release plus an amusing concept. More than that, it’s at least in part in response to last week’s first-time-ever marketing alliance between an on-line poker site partypoker.com and two major pro sports teams: the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils.
Game up on.
Of course, ya gotta have a gimmick, as Gypsy Rose Lee once said ( at least within the musical about her), and this is 888’s.
‘We’re excited that 888.com is installed and operating in nj,’ 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 athlete that is local Big Blue’s very own number 88, Hakeem Nicks. We are also mindful that Hakeem’s contract is up, so we hope which he views this as being a motion to stay and also as an opportunity to benefit a local charity that he supports.’
Never ever hurts to toss in certain community feel-good elixir either, does it.
Nicks Not Biting
Also not too surprisingly and vaguely similar to a current cryptocurrency launch that used Kanye West’s name despite the fact that he had no real involvement with the item Nicks hasn’t responded, let alone said yay or nay. It’s 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 with his longest going for 57 yards. However, he went the whole season without reaching the end zone.
While nobody really thinks he will simply take 888 up on this offer that is creative minimum perhaps not only at that price if he did opt to just do it, there is an entire bunch of paperwork to be careful of, as anyone 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.
If that have been to happen and there was the precedent of Ocho Cinco, who changed their name from the more mundane Chad Johnson right back in 2008 Nicks would then trade in his current team jersey for a new one saying ‘888’ which would be a publicity success worth a big pile more than $88,800 for the poker site.
