It’s good to be always a casino industry lobbyist or lawyer representing brand new Jersey on the web gaming, according to the latest reports (Image: thepublici.com)
Everyone understands that when it concerns gambling, the homely house always wins. In the full case of online gambling in New Jersey, it appears that the lobbyists and solicitors do pretty well for themselves, too.
Support 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 came simply days before the first revenue figures are scheduled to be released for New Jersey casino web sites, and are element of an unusual requirement in New Jersey that demands disclosures for many expert re payments.
‘Many states have statutes requiring public disclosure of revenues by lobbyists, including New Jersey, but this is the time that is first have ever heard of a gaming regulatory agency needing disclosure of payments to lawyers,’ said Nicholas Casiello Jr., a lawyer utilizing the Fox Rothschild firm’s gaming group in Atlantic City.
This first report covered everything from July 2009 through December 2013, with future reports being made public for a quarterly basis.
The biggest ‘winner’ in terms of legal services was Brownstein Hyatt Farber Schreck, L.L.P., which made $1.89 million in legal charges. That’s in addition to another $2.83 million from activities described as a combination between lobbying, consulting and appropriate services, bringing their total haul to $4.72 million.
However, the disclosures also showed just how site that is unclear were about what exactly they had to report. A few 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 particular level of detail in the reporting varied significantly because well. The Borgata just reported two categories of re payments: one to a lawyer, plus one with a group that is lobbying. Having said that, Amaya Gaming Group and Ultimate Gaming included everything that might possibly be relevant, down to a payment of $19,380 to a mathematician to help develop online games.
Lobbying companies did rather well, gathering a complete of $3 million from companies 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 big repayments, too: TV poker personality Mike Sexton took in between $100,000 and $300,000 a year from Bwin.Party in an effort to be their brand ambassador.
Only A Few Were Revealing
Possibly the more aspect that is surprising of disclosures was which and how many companies involved in brand New Jersey’s online gambling industry actually complied with the necessity to reveal payments. According to reports, only about 40 percent of this firms that will happen necessary to register ‘Web Gaming Disclosure Statements’ actually bothered to do so. However, that number is a bit misleading, as all of the players that are major 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 their state’s licensed Internet platform providers have filed the division’s disclosure type,’ stated Lisa Spengler, representative for the Division of Gaming Enforcement. ‘The division 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 is been a run that is seven-year of fortune for Atlantic City’s casinos, revenue-wise. (Image: Moonbeam 13)
It’s amazing exactly what a difference seven years can make. Atlantic City which was going strong and winning $5.2 billion from gamblers in 2006 has seen seven straight years of declining revenues, culminating within the city’s 12 (now 11) casinos bringing in less than $3 billion in gambling revenues for the first-time in 22 years in 2013.
The figure that is exact was released recently by the latest Jersey Division of Gaming Enforcement came to $2.86 billion, or close to a five percent 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 as well as the damaging aftereffects of Hurricane Sandy in 2012 undoubtedly harmed the gambling resort, the number one reason behind the decline is increased competition from nearby casinos.
In reality, the downturn coincides exactly with the 12 months once the region began getting 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 in 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 town with only 11 operating casinos.
Can Web Gambling Save the afternoon?
Nonetheless, industry insiders say 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 year ahead.
‘Obviously it’s disappointing to see another year where it’s really a decrease,’ said Tony Rodio, head of the Casino Association of nj and president of the Tropicana Casino and Resort, which snatched up a bit of the Atlantic Club and will be using all of the casino’s gaming gear. ‘But hopefully by 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 on line gambling revenue in New Jersey, as hawaii’s Internet casino market exposed in late November. Overall, gambling enterprises took in $8.4 million in winnings during that time. The lion’s share of that 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 the New Jersey online market, allowing us to offer our customers a broad selection of games and table stakes at all times,’ stated Keith Smith, president of Boyd Gaming (a firm that owns half of the Borgata). ‘This gives our network a significant competitive benefit and positions us for further success.’
According to Smith, there was clearly also proof that the online casinos were bringing in additional revenue, instead of simply shifting money from land-based operations to the Internet.
‘When matching our online and land-based databases, we discovered that 60 percent of on the web casino customers wasn’t to Borgata in over per year, and over 75 per cent had made fewer than two trips to Borgata within the past 12 months,’ said Smith. ‘And for a basis that is combined on line and land-based poker revenue at Borgata was up more than 40 % from our land-based play in December 2012. Clearly, online gaming is complementary to our land-based business, not competitive.’
Nevertheless, it’s not yet certain whether online gambling will 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 Site 888 Wants Hakeem Nicks to Add an 8 to their Jersey
NY Giants receiver that is wide Nicks will have an extra ‘8’ on his team myfreepokies.com jersey, if poker site 888.com gets their means (Image: BSO.com)
Within the overcrowded arena of methods to get your name on the market, sometimes you merely need certainly to think outside the box. That’s the thinking, apparently, associated with the marketing geniuses at 888.com, a poker that is online now licensed in the newly launched nj-new Jersey online casino market, 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 obviously just a publicity stunt to have shmucks like us to write up the story, it’s unlikely that a look for under $89K is going to 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 the very least in part in a reaction to last week’s first-time-ever marketing alliance between an online poker site partypoker.com and two major pro sports teams: 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 least into the musical about her), so this is 888’s.
‘We’re excited that 888.com is ready to go in nj,’ said 888 Holdings CEO Brian Mattingley. ‘As we consider 888 to be the premier gaming site within the Garden State, we thought it had been appropriate to align ourselves along with other area notables. We couldn’t think about a more fitting athlete that is local Big Blue’s very own number 88, Hakeem Nicks. We are also conscious that Hakeem’s contract is up, so we hope that he sees this being a gesture to keep and as an opportunity to profit a local charity he supports.’
Never hurts to throw in some community feel-good elixir either, does it.
Nicks Not Biting
Additionally not too surprisingly and vaguely similar to a recent cryptocurrency launch that used Kanye West’s name even though he had no real participation with the item Nicks has not 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 with his longest going for 57 yards. However, he went the season that is whole reaching the end area.
While no one really believes he will take 888 up on this offer that is creative minimum not at this price if he did decide to go ahead, there is an entire bunch of documents to be mindful of, as anyone who’s ever gotten married or divorced can attest. Besides the typical trips towards the DMV to change his license, another one to the Social protection office, passport office and any and all financial institutions, Nicks would have to obtain a papal blessing from the NFL.
If that were to happen and there clearly was the precedent of Ocho Cinco, who changed their title from the more mundane Chad Johnson back in 2008 Nicks would then trade in his current team jersey for a new one saying ‘888’ which will be a publicity triumph worth a big pile more than $88,800 for the poker site.