David McKee

California lawmakers’ push for legalized i-gaming appears to run into an insuperable obstacle. Just when it looked like state Rep. Adam Gray had devised language that would tap-dance around the “bad actor” issue, the Pechanga Band of Luiseño Indians and Agua Caliente Band of Cahuilla Indians, along with their allies, wrote him to say, “we regret that your amendments related to suitability standards and taxation force us to oppose the bill.” This returns us to a familiar impasse in California, dividing the supporters of PokerStars (Gray’s allies) from those for whom PokerStars is toxic. Pechanga Chairman Mark Macarro basically called upon PokerStars’ adherents to abandon it: “We have made concessions. Racing has made concessions. It’s time for the other group to make meaningful concessions if they truly want iPoker legalized in California,” he wrote. In case anybody didn’t the message, he added, “Our position is rooted in shaping policy that protects tribal rights, not give a boost to the stock prices of publicly traded companies desperate to get iPoker at any cost.” Publicly traded companies? Trying to peddle iPoker? Nah, doesn’t sound like anybody we know.

* Now that even first-tier bondholders are balking at Caesars Entertainment‘s emergence-from-bankruptcy plan, Continue reading →