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 component of the Control Board’s ongoing research into allegations that $40 million in payments ended up being made to Rodolfo Soriano, one of Universal’s casino project consultants into the Philippines. Possibly the insinuation is that Soriano received the money to grease some Filipino palms, but we might never imply such thing, of course.
We could only report that both the FBI and the Philippines’ equivalent, the National Bureau of Investigation, were having a look into the matter to see if such a thing improprietous was done. Universal Entertainment has maintained that it acted lawfully in the Philippines; in the end, who doesn’t give their experts $40 million as being a token of the esteem?
Meanwhile, nobody’s commenting: not the Nevada Gaming Control Board and certainly no one from Universal Entertainment. Maybe that’s why they call it money that is hush.
No Wrongdoing Alleged
This really is where we have to explain that no one has really or officially been accused of accomplishing any such thing, particularly anything wrong. But you can observe it might 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 had been about to be deposed, Okada, ( who has been persona non grata at Wynn for quite some years now), resigned, but the Board returned with a collective flip off by firing him anyway with about a 98% approval vote the extremely next time.
Okada vs. Wynn
The struggle with Wynn has been going on for years now, and, stop the presses, stems from problems Wynn has had with Okada over allegations of some monetary improprieties (that sounds so classier that is much ‘bribes,’ doesn’t it?) to Filipino heavyweights for his casino projects here. No one in the casino business likes to be associated with anyone whose hands might be dirty, ya know.
Needless to say, Okada has received some allegations of his own towards Wynn also, stating that their 20 percent stake in Wynn Resorts was illegally seized from him at a 30 percent discount, making him with only a promissory note worth some $1.9 billion he can collect in 10 years. Oh, the cruel, cruel world of high-stakes finance.
Last month, Wynn Resorts retracted some former allegations, such as for example that Universal had misappropriated trade secrets, that were initially filed in case on Feb. 19, 2012; the retractions signaled a triumph of kinds to Universal. Wynn Resorts remains unmoved, however.
‘It only illustrates our desire to focus at the moment upon the breaches of fiduciary responsibility owed to the 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 puts them to make use of in their Phillipines casino, or elsewhere.’
Just What’s at risk
The Philippines’ government has placed plenty of eggs in Okada’s container: they granted him four casino licenses to build and operate a multibillion dollar manila gambling and entertainment complex that will be for a par to compete with Macau and Singapore, two of the very lucrative 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 score that is seven-figure. 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 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 nevada from May 18-24. Nice work if it can be got by you.
Big Names Duke It Out
Seated at the table that is final Chang had been an industry 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 year for a $19,200 finish, so must have now been quite satisfied with this much better performance. Other finishes that are top renowned poker pro Eric Seidel for $295, 590 in fourth; Chris Johnson in fifth destination for $208, 910; and Joe Kuether in sixth for a $162, 240 prize.
Chang’s previous victories of note come with 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 last dining table at 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 potato chips on a table that is universally deep-stacked. Beginning out with a healthy 83 big blinds, he grew to chip leader by the 42nd hand regarding the last table, and remained at or near to the front runner right up to his first place finish. A combination of all deep stacks and a really solid group of players resulted in 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 just took six hands for Chang to knock Nguyen out having a right 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 Money Out
Minted Poker is given up and embarrassed using the community they currently call home, the Everleaf Gaming system, and is telling their players to cash out all their money immediately. This is a result of what they call ‘embarrassing’ money away delays in the system, with most withdrawals using 6 months or even more to process, regarding the ones which can be actually being processed at all.
In addition to telling their players to cash out, they’ve additionally advised players to take actions that are several an effort to force Everleaf into action. One is to file complaints with the Lotteries and Gaming Authority(LGA) of Malta, though the LGA has a sketchy reputation for working with issues inside 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 whom claimed the most of their withdrawals still had not been processed a lot more than 9 months after the fact. The LGA included which they would carry on to monitor Everleaf to make certain funds had been being properly paid out to the players on its system.
Minted had even taken the drastic step to block all deposit choices for their site; this for the sake of unique players never to sink more cash in to the system, also to try and spur Everleaf into action. Nevertheless, Everleaf has remained unresponsive throughout the fiasco, which certainly brings their current credibility into concern.
Minted Poker is within the procedure of going to a new network, and hopes their players’ money balances will be transferred once that move is completed. With the state that is apparent of at Everleaf nevertheless, it is perhaps not probable which will come to pass through simply speaking order.
Minted Poker is just certainly one of several ‘skins’ on the Everleaf Network. A few 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 also been unable to withdraw their funds since the move.
PokerStars Battles It Out with the American Gaming Association
A study from Forbes magazine earlier this week stated that Caesars Entertainment Corporation, the greatest gaming that is land-based in the entire world, has recently 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 Las Vegas,’ stated head of corporate communications for PokerStars, Eric Hollreiser. ‘Caesars Entertainment recommended that this acquisition would give us a better relationship with Caesars Entertainment and would assist PokerStars gain a license in Nevada.’
Based on the magazine, PokerStars was approached final month by an unnamed executive representing Caesars Entertainment to go over a preliminary deal for PokerStars to take on Rio All-Suite Hotel and Casino, as well as the World variety of Poker brand name.
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 entire process of buying the Atlantic Club Casino and Hotel in Atlantic City which allows it to submit application to the newest 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 presented 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 plus the systematic flouting of United States law’.
‘Any action allowing PokerStars to be licensed would send a message that is damaging the realm of video gaming and also to the planet beyond gaming that organizations that engage in chronic lawbreaking are welcome in the licensed gaming business,’ stated the brief, as if attempting to avoid online gaming Armageddon.
Should the AGA be successful in blocking PokerStars’ plans to shop for the venue for $50 million, a reported 2,400 jobs could be at risk.
In reaction to your schoolyard-type chants of the AGA, Eric Hollreiser called upon the nj-new Jersey Casino Control Commission and Division of Gaming Enforcement to come quickly to their own conclusion centered on ‘expert regulators’ and suggested that the AGA was simply ‘picking a public fight’ aided by 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 such as the New Jersey regulators and other state that black diamond casino cheats is interested to talk about our qualifications and allow them to comment on exactly what they find,’ stated Hollreiser.
‘PokerStars is among the largest & most respected internet gaming companies because we work closely with regulators and are in good standing with governments throughout the world keeping licenses in France, Germany, Italy, Spain, Denmark, Estonia, Belgium, Malta and the Isle of Man.’
‘we shall continue to work positively with regulators in nj and elsewhere whenever 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, in the event that largest land-based gaming firm on the planet sees fit to offer two of these most prized brands to the company, then perhaps PokerStars deserves just a little more consideration than the AGA is willing to offer.