{"id":12155,"date":"2013-12-03T13:49:02","date_gmt":"2013-12-03T21:49:02","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=12155"},"modified":"2020-05-20T06:02:52","modified_gmt":"2020-05-20T14:02:52","slug":"online-gambling-a-hit-in-new-jersey-crackdown-in-singapre","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/online-gambling-a-hit-in-new-jersey-crackdown-in-singapre\/","title":{"rendered":"Online gambling a hit in New Jersey; Crackdown in Singapre"},"content":{"rendered":"

\"GovChristie.380\"<\/a>Despite some small fits and starts<\/a>, New Jersey<\/strong> was able to roll out Internet<\/strong> gambling to eager Garden State citizens and with no major issues. Moody’s Investor Service<\/strong> predicted $250 million-$500 million in revenues during the first year, while Gov. Chris Christie<\/strong> (R) rashly forecast $1 billion in revenue<\/a> by next July. Bottom line, Christie needs it to succeed on that scale in order for his budget to balance. Online gambling revenues have to fit a predetermined result.<\/p>\n

But, whereas players in Nevada<\/strong> and Delaware<\/strong> have tipped their toes into Internet-gambling waters, New Jersey punters have dived right in. By yesterday, the number of accounts created had topped 51,350<\/a> (mind you, New Jersey has many more sites than Nevada). Six casinos have launched 12 sites among them, while glitch-prone Golden Nugget<\/strong> is holding off for a week. While Steve Wynn<\/strong> is waxing cautious, Jim Murren<\/strong> and Gary Loveman<\/strong> are full speed ahead, and Sheldon Adelson<\/strong> is crabbily yelling, “You kids get off my lawn!”\u00a0With respect to online poker, Wynn insinuated that Adelson is spitting into the wind<\/a> … especially when Nevada<\/strong>‘s two senators are pushing for its legalization, in the form of i-poker. Wynn also engaged in some revisionist history with regard to the future of his golf course, although many of us will be glad to know he’s going to leave it intact.<\/p>\n

In the Adelson camp<\/strong>, we find the authoritarian regime of Singapore<\/strong>. It’s anti-Internet gambling and its list of proscription<\/a>s (including a ban on advertising) is much harsher than anything attempted here. The deputy minister for domestic affairs used the ‘we’re doing it for the children’ excuse, singing off the Adelson hymnal. However, when the amount of lucre ($5.85 billion) flowing through Singapore’s casinos is taken into account, is it any wonder that the government wants to keep it from being diverted offshore?<\/p>\n

Case bets<\/strong> … federal regulation of casino gambling is the unlikely goal of American Gaming Association<\/strong> President Geoff Freeman<\/strong>, though he’s not sitting by the phone … Las Vegas Sands<\/strong> is trying to refinance $3.25 billion in debt<\/a>, lengthening maturities and loosening loan covenants. The company warns that ‘there can be no assurance that the refinancing will occur’ but the financial health of the company is such that it shouldn’t be a cause for worry … unlike Atlantic City<\/strong>, where tax refunds to casinos are pushing the metropolis closer to the financial brink<\/a> … Penn National Gaming<\/strong> founder Peter D. Carlino<\/strong> died last weekend at the ripe old age of 92. S&G<\/em> sends its condolences.<\/p>\n

And now for a word from our sponsor<\/strong> … get a one-two punch of bargains for just $25. That’s all it will cost you to subscribe to Las Vegas Advisor<\/em>, which comes with our 2013 Member Rewards Book<\/em> — invaluable for all those end-of-year visits — and to obtain the coupon-laden American Casino Guide<\/em>. That’s just one of several bargain plays<\/a> too good to pass.<\/p>\n","protected":false},"excerpt":{"rendered":"

Despite some small fits and starts, New Jersey was able to roll out Internet gambling to eager Garden State citizens and with no major issues. Moody’s Investor Service predicted $250 million-$500 million in revenues during the first year, while Gov. … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,7,37,11,12,108,32,129],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12155"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=12155"}],"version-history":[{"count":4,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12155\/revisions"}],"predecessor-version":[{"id":27113,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12155\/revisions\/27113"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=12155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=12155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=12155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}