Chang Takes Down WPT Event for longer 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 former Wynn director Kazuo Okada, along side three other directors of his Universal Entertainment Corp., for a closed-door hearing week that is next. It’s all part of the Control Board’s ongoing investigation into allegations that $40 million in payments was designed to Rodolfo Soriano, one of Universal’s casino project consultants in the Philippines. Perhaps the insinuation is that Soriano received the money to grease some Filipino palms, but we would never imply such thing, of course.

We can only report that both the FBI and the Philippines’ comparable, the National Bureau of Investigation, have been having a look in to the matter to see if anything improprietous ended up being done. Universal Entertainment has maintained that it acted lawfully in the Philippines; after all, who doesn’t give their specialists $40 million being a token of the esteem?

Meanwhile, no body’s commenting: not the Nevada Gaming Control Board and certainly no one from Universal Entertainment. Maybe that’s why they call it hush cash.

No Wrongdoing Alleged

This is where we have to make clear that no one has really or officially been accused to do anything, particularly anything wrong. But you can observe 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 a few years now), resigned, but the Board came ultimately back with a collective flip off by firing him anyhow with about a 98% approval vote the really next time.

Okada vs. Wynn

The struggle with Wynn has been going on for years now, and, stop the presses, stems from issues Wynn has had with Okada over allegations of some financial improprieties (that sounds so classier that is much ‘bribes,’ does it not?) to Filipino heavyweights for his casino projects there. Nobody in the casino company likes to be associated with anybody whose hands could be dirty, ya know.

Of course, Okada has received some allegations of his very own towards Wynn as well, stating that his 20 percent stake in Wynn Resorts was illegally seized from him at a 30 % discount, making him with only a promissory note worth some $1.9 billion he can collect in a decade. Oh, the cruel, cruel world of high-stakes finance.

Last thirty days, Wynn Resorts retracted some allegations that are former such as that Universal had misappropriated trade secrets, that were initially filed in case on Feb. 19, 2012; the retractions signaled a success of kinds 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 statement that is official. ‘The claim for theft of our trade secrets and business that is proprietary will be ripe if and when Okada places them to use in their Phillipines casino, or elsewhere.’

Exactly What’s at Stake

The Philippines’ government has placed lots of eggs in Okada’s basket: they granted him four casino licenses to build and operate a dollar that is multibillion gambling and entertainment complex that would be for a par to compete with Macau and Singapore, two of the most lucrative video gaming income producers on the planet. Along side three other gaming developments there, it shall be known as Pagcor Entertainment City.

No pressure whatsoever.

Chang Takes Down WPT Event for longer than a Million

It’s every poker player’s dream: to master a major tournament and collect 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 merely did Chang win $1,138,350 for defeating a particularly tough and table that is deep-stacked he was also awarded $25,000 entry into the WPT World Championship, to be held at Bellagio in Las vegas, 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 a field of deep-stacked poker warriors, including Paul Volpe, who ultimately took third for a $435, 610 payday. It has been a hell of a year for Volpe already, having taken home over $600,000 for second within the WPT L.A. Poker Classic just a little higher than a week before, and completing in the cash in January’s PokerStars Caribbean Adventure 2013 as well. Joe Nguyen took home second for $666, 740; he finished 29th in this same occasion last year for a $19,200 finish, so must are quite happy with that much better performance. Other finishes that are top renowned poker pro Eric Seidel for $295, 590 in fourth; Chris Johnson in 5th destination for $208, 910; and Joe Kuether in sixth for a $162, 240 reward.

Chang’s previous wins of note add a 2006 second-place finish in the $10,000 World Series of Poker (WSOP) Circuit occasion at Harrah’s Rincon, since well as a 40th place finish that same 12 months in the WSOP Main Event. He bubbled the 2008 last table at the L.A. Poker Classic in 2008, getting absolutely nothing however some television coverage out of 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 by having a healthy 83 big blinds, he grew to chip leader by the 42nd hand of this table that is final and remained at or close to the front runner right up to his first place finish. A combination of all deep piles and a very solid band of players led to no one even being eliminated until the 79th hand.

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 straight to Nguyen’s missed diamond flush draw.

The next WPT occasion will be in Venice, Italy on March 25 and will be televised.

Minted Poker Tells Their Players to Money Out

Minted Poker is given up and embarrassed with the system they currently call home, the Everleaf Gaming system, and is telling their players to cash out their money immediately. This is because of what they call ‘embarrassing’ cash down delays in the community, with most withdrawals taking 6 months or higher to process, of the ones that are actually being prepared at all.

In addition to telling their players to cash out, they will have 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 slotocash no deposit bonus codes 2016 Gaming Authority(LGA) of Malta, though the LGA has a history that is sketchy of with issues inside their jurisdiction and enforcing their rules.

To that end, the LGA recently released a statement saying that they had looked into the issue of withdrawals at Everleaf and found that the bulk of players had been compensated. That statement was quickly refuted by group of several players whom advertised the most of their withdrawals nevertheless had not been processed more than 9 months after the fact. The LGA included they would continue to monitor Everleaf to make sure funds had been being properly paid out to the players on its system.

Minted had even taken the step that is drastic block all deposit choices for their site; this for the sake of unique players not to sink more cash 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 concern.

Minted Poker is in the process of going to a network that is new and hopes their players’ cash balances will be transferred once that move is completed. With all the state that is apparent of at Everleaf nevertheless, it is maybe not probable which will come to pass through in short order.

Minted Poker is just certainly one of several ‘skins’ on the Everleaf system. Some of the dozens of other internet sites regarding the network include bluffbet.com, palmbet.com, pokerutd.com, and valhallapoker.com. Traffic on the network has drastically decreased within the last month following 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 United States Gaming Association

A written report from Forbes mag earlier in the day this week stated that Caesars Entertainment Corporation, the greatest gaming that is land-based in the planet, has recently attempted to offload two of its top and recognisable brands to on line poker firm PokerStars.

‘Caesars Entertainment approached PokerStars and agreed to sell us certain assets such as the Rio Casino in Las Vegas,’ stated head of corporate communications for PokerStars, Eric Hollreiser. ‘Caesars Entertainment advised that this acquisition would give us a better relationship with Caesars Entertainment and would assist PokerStars gain a license in Nevada.’

In line with the magazine, PokerStars was approached last month by an unnamed executive representing Caesars Entertainment to talk about a preliminary deal for PokerStars to take in the Rio All-Suite Hotel and Casino, since well as the planet number 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 gaming operator is amidst the process of buying the Atlantic Club Casino and Hotel in Atlantic City which allows it to submit application to the latest Jersey Casino Control Commission for the intrastate online poker license.

However, the plan to submit such an application has been somewhat tainted following an opposing that is brief proposed purchase of the Atlantic Club Casino and Hotel by the American Gaming Association (AGA).

The AGA presented a 24-page ‘not-so-brief’ to the New 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 allowing PokerStars to be licensed would send a message that is damaging the realm of video gaming and also to the world beyond gaming that organizations that engage in chronic lawbreaking are welcome into the licensed video gaming business,’ stated the brief, as if attempting to avoid online gaming Armageddon.

Should the AGA be successful in blocking PokerStars’ plans to acquire the venue for $50 million, a reported 2,400 jobs could possibly be in danger.

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 to their own conclusion according to ‘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 will work with authorities such as the New Jersey regulators and other state that is interested to talk about our qualifications and invite them to comment on just what they find,’ stated Hollreiser.

‘PokerStars is amongst the largest & most respected internet gaming organizations because we work closely with regulators and are in good standing with governments across the world licenses that are holding France, Germany, Italy, Spain, Denmark, Estonia, Belgium, Malta and the Isle of Man.’

‘we shall continue to work favorably with regulators in nj-new jersey and somewhere else whenever they review our qualifications,’ he completed.

Should Hollreiser’s good-light-shedding statements be believed, we’ve to concern the motive behind the AGA’s squabble-like claims. After all, if the largest land-based gaming company on the planet sees healthy to offer two of their most prized brands to the company, then perhaps PokerStars deserves a little more consideration than the AGA is willing to offer.

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