Chang Takes Down WPT Event for More 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 research into allegations that $40 million in payments was made to Rodolfo Soriano, one of Universal’s casino project consultants in the Philippines. Possibly the insinuation is that Soriano received the cash to grease some Filipino palms, but we would never ever imply such a plain thing, of course.
We can only report that both the FBI and the Philippines’ equivalent, the National Bureau of Investigation, have been taking a look in to the matter to see if such a thing improprietous was done. Universal Entertainment has maintained that it acted lawfully in the Philippines; most likely, who does not give their specialists $40 million as being a token of their esteem?
Meanwhile, nobody’s commenting: not the Nevada Gaming Control Board and certainly no one from Universal Entertainment. Maybe that is why they call it hush cash.
No Wrongdoing Alleged
This will be where we must explain that no one has actually or officially been accused to do any such thing, particularly anything wrong. However you can observe how it may 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, ( who has been persona non grata at Wynn for quite some years now), resigned, but the Board came back with a collective flip off by firing him anyway with about a 98% approval vote the really day that is next.
Okada vs. Wynn
The battle 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 financial improprieties (that sounds so classier that is much ‘bribes,’ doesn’t it?) to Filipino heavyweights for his casino projects here. No body in the casino business likes to be associated with anybody whose hands might be dirty, ya know.
Needless to say, Okada has already established some allegations of his very own towards Wynn also, stating that his 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 former allegations, 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 sorts to Universal. Wynn Resorts remains unmoved, however.
‘It only illustrates our desire to target at the moment upon the breaches of fiduciary duty owed to our company,’ Wynn Resorts responded in an official statement. ‘The claim for theft of our trade secrets and proprietary business information will be ripe if and when Okada places them to utilize in their Phillipines casino, or elsewhere.’
Just What’s on the line
The Philippines’ government has put 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 will be for 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 gaming developments there, it will be known as Pagcor Entertainment City.
No pressure whatsoever.
Chang Takes Down WPT Event for More Than a Million
It’s every poker player’s dream: to master a major tournament and get hold of a seven-figure score. That dream came true for relatively unknown professional Kai Chang this week at World Poker Tour (WPT) Bay 101 Shooting Star’s 2013 event.
Not only 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 vegas from May 18-24. Nice work if you will 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 a $435, 610 payday. This has been a hell of a year for Volpe already, having taken home over $600,000 for second in the WPT L.A. Poker Classic just a little more than a week before, and completing in the money 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 12 months for a $19,200 finish, so must happen quite satisfied with anywhere near this much better performance. Other finishes that are top renowned poker pro Eric Seidel for $295, 590 in fourth; Chris Johnson in 5th spot for $208, 910; and Joe Kuether in sixth for a $162, 240 reward.
Chang’s previous wins of note incorporate a 2006 second-place finish in the $10,000 World Series of Poker (WSOP) Circuit occasion at Harrah’s Rincon, because well as a 40th place finish that same year in the WSOP Main Event. He bubbled the 2008 final dining table at the L.A. Poker Classic in 2008, getting nothing many TV coverage out of it all.
The Action Builds
Chang entered the last table as fifth of sixth in chips on an universally deep-stacked table. Beginning out by having a healthy 83 big blinds, he grew to chip leader by the 42nd hand regarding the final table, and remained at or near to the leading runner right up to his first place finish. A combination of all deep piles and a very solid number of players led to no one even being eradicated until the hand that is 79th.
Things moved a bit faster once action got down seriously to the heads-up match between Chang and Nguyen. It just 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 will also be televised.
Minted Poker Tells Their Players to Money Out
Minted Poker is fed up and embarrassed with all the network they currently call home, the Everleaf Gaming Network, and is telling their players to cash out https://real-money-casino.club/real-money-casino-app/ all of their money immediately. This is because of what they call ’embarrassing’ cash down delays regarding the community, with most withdrawals using 6 months or maybe more to process, for the ones that are actually being processed at all.
In addition to telling their players to cash out, they’ve also advised players to take actions that are several an attempt to force Everleaf into action. One is to file complaints with the Lotteries and Gaming Authority(LGA) of Malta, although the LGA has a sketchy history of working with issues inside their jurisdiction and enforcing their guidelines.
To that end, the LGA recently released a statement saying that they had looked at the issue of withdrawals at Everleaf and found that the bulk of players was in fact compensated. That statement was quickly refuted by a combined group of several players who claimed the most of their withdrawals nevertheless had not been processed significantly more than 9 months after the fact. The LGA included that they would continue to monitor Everleaf to make sure funds were being properly paid out to the players on its community.
Minted had even taken the extreme step to block all deposit options with their site; this for the sake of unique players not to sink more cash in to the network, also to try and spur Everleaf into action. Nevertheless, Everleaf has remained unresponsive throughout the fiasco, which certainly brings their current credibility into question.
Minted Poker is within the process of moving to a network that is new and hopes their players’ cash balances will be transferred once that move is finished. With all the state that is apparent of at Everleaf nonetheless, it is perhaps not probable which will come to pass in short purchase.
Minted Poker is just one of several ‘skins’ on the Everleaf system. Some of the dozens of other sites in 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 appropriate action by the Department of Homeland Security. U.S players that has accounts have also been unable to withdraw their funds since the move.
PokerStars Battles It Out with the American Gaming Association
A written report from Forbes mag earlier this week stated that Caesars Entertainment Corporation, the greatest gaming that is land-based in the world, has attempted to offload two of its most popular and recognisable brands to on the web poker firm PokerStars.
‘Caesars Entertainment approached PokerStars and offered to sell us assets that are certain as the Rio Casino in vegas,’ stated head of corporate 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 mag, PokerStars was approached final thirty days by an unnamed executive representing Caesars Entertainment to go over a preliminary deal for PokerStars to take the Rio All-Suite Hotel on and Casino, because well as the World variety 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 will allow it to submit application to the New Jersey Casino Control Commission for the intrastate online poker license.
However, the master plan to submit such an application has been somewhat tainted following an opposing that is brief 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 and also the flouting that is systematic of States legislation’.
‘Any action enabling PokerStars to be licensed would send a message that is damaging the realm of gaming and to the entire world beyond video gaming that companies that engage in chronic lawbreaking are welcome in the licensed video gaming business,’ stated the brief, as if attempting to prevent online gaming Armageddon.
Should the AGA be successful in blocking PokerStars’ plans purchasing the venue for $50 million, a reported 2,400 jobs could be at risk.
In response to your schoolyard-type chants of the AGA, Eric Hollreiser called upon the New Jersey Casino Control Commission and Division of Gaming Enforcement to come quickly to their own conclusion according to ‘expert regulators’ and suggested that the AGA was simply ‘picking a public fight’ using the firm. He included that PokerStars was deemed suitable for application to a license in America by the U.S. Department of Justice.
‘We will continue to work with authorities like the brand New Jersey regulators and other state that is interested to discuss our qualifications and allow them to comment on exactly what they find,’ stated Hollreiser.
‘PokerStars is among the largest and most respected internet gaming companies because we work closely with regulators and are in good standing with governments around 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 favorably with regulators in New Jersey and somewhere else each time they review our qualifications,’ he finished.
Should Hollreiser’s good-light-shedding statements be believed, we have to question 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.