{"id":13444,"date":"2014-04-24T12:14:59","date_gmt":"2014-04-24T20:14:59","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=13444"},"modified":"2018-11-07T09:01:32","modified_gmt":"2018-11-07T17:01:32","slug":"packer-sparks-protests-heads-roll-at-zynga","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/packer-sparks-protests-heads-roll-at-zynga\/","title":{"rendered":"Packer sparks protests; Heads roll at Zynga"},"content":{"rendered":"<p>Just the prospect of a <strong>James Packer<\/strong>-owned casino was enough to spur a Buddhist-driven protest march in <strong>Sri Lanka<\/strong>. Packer&#8217;s <strong>Crown Resorts<\/strong> has concessions to <img loading=\"lazy\" class=\"alignright size-full wp-image-6071\" src=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2011\/03\/packer.jpg\" alt=\"\" width=\"200\" height=\"300\" srcset=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2011\/03\/packer.jpg 200w, https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2011\/03\/packer-100x150.jpg 100w\" sizes=\"(max-width: 200px) 100vw, 200px\" \/>develop three resort properties and the Sri Lanka government has been talking out of both sides of its mouth as to whether they&#8217;d \u00a0have gambling or not. The country already has gambling, albeit on a small scale. That could change. Between them, Sri Lankan entrepreneurs\u00a0<strong>Ravi Wijeratne<\/strong> and\u00a0<strong>Dhammika Perera<\/strong> have been granted five casino concessions. Whether they are successfully developed remains to be seen: Although the current government holds a two-thirds majority, opposition to casinos cuts across party lines.<\/p>\n<p><strong>Mind your own business<\/strong>. <a href=\"http:\/\/www.northjersey.com\/news\/nj-dem-leaders-denounce-proposed-congressional-ban-of-online-gambling-1.1001040\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"broken_link\">That&#8217;s the message<\/a> from <strong>New Jersey<\/strong> lawmakers to <!--more-->the Adelson caucus on <strong>Capitol Hill<\/strong>, which would strip the Garden State of <strong>Internet<\/strong> gambling. <a href=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2010\/08\/senlesniak.jpg\"><img loading=\"lazy\" class=\"alignright size-full wp-image-4295\" src=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2010\/08\/senlesniak.jpg\" alt=\"senlesniak\" width=\"250\" height=\"300\" srcset=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2010\/08\/senlesniak.jpg 250w, https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2010\/08\/senlesniak-125x150.jpg 125w\" sizes=\"(max-width: 250px) 100vw, 250px\" \/><\/a>Said state Sen. <strong>Raymond Lesniak<\/strong> (D, <em>right<\/em>),\u00a0\u201cCongress should leave us alone.\u201d Slightly more expansively, state Sen. President <strong>Stephen Sweeney<\/strong>\u00a0(D) added,\u00a0\u201cWe have quickly become a national leader in the world of internet gambling, and we simply cannot afford to have all our hard work and effort undone by the whims of a few down in <strong>Washington<\/strong>.&#8221; A <a href=\"http:\/\/www.net-security.org\/secworld.php?id=16737\" target=\"_blank\" rel=\"noopener noreferrer\">newly released<\/a> <strong>McAfee<\/strong> report details the dangers of the black-market Internet gambling scene and ought to be mandatory reading for <strong>Sheldon Adelson<\/strong>&#8216;s meddlesome Beltway minions. Meanwhile, <strong>New York<\/strong> state Sen. <strong>John Bonacic<\/strong> (R) is trying to lead the Empire State <a href=\"http:\/\/www.forbes.com\/sites\/darrenheitner\/2014\/04\/23\/can-online-poker-become-the-new-king-of-new-york\/\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"broken_link\">toward the promised land of Internet poker<\/a>. A license would cost $10 million and revenues would be taxed at 15%.<\/p>\n<p><script type=\"text\/javascript\" src=\"https:\/\/KTIV.images.worldnow.com\/interface\/js\/WNVideo.js?rnd=165896;hostDomain=www.ktiv.com;playerWidth=450;playerHeight=253;isShowIcon=true;clipId=10081594;flvUri=;partnerclipid=;adTag=News;advertisingZone=;enableAds=true;landingPage=;islandingPageoverride=false;playerType=STANDARD_EMBEDDEDscript;controlsType=fixed\"><\/script><span style=\"line-height: 1.5em;\"><br \/>\nThis has to be a galling sight for <b>Penn National Gaming.<\/b><\/span><\/p>\n<p><strong>Churchill Downs<\/strong> had its best quarter ever &#8230; <a style=\"line-height: 1.5em;\" href=\"http:\/\/www.bizjournals.com\/louisville\/news\/2014\/04\/23\/casinos-boost-churchill-downs-revenues-in-first.html\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"broken_link\">and still lost $700,000<\/a><span style=\"line-height: 1.5em;\">. The company&#8217;s casino division was up 20%, propelled <strong>Oxford Casino<\/strong>, in <strong>Maine<\/strong>, and <strong>Miami Valley Gaming &amp; Racing<\/strong>, in <strong>Ohio<\/strong>. However, the company&#8217;s <strong>Mississippi<\/strong> and <strong>Louisiana<\/strong> properties did not do so well. Also, much of the deficit can be attributed to heavy spending to legalize casinos in <strong>Kentucky<\/strong>. Churchill Downs development of an Internet-gambling platform also proved very cost-intensive.<\/span><\/p>\n<p><strong>For an extra<\/strong> $20 million, <strong>Lawrence Ho<\/strong> <a href=\"http:\/\/www.forbes.com\/sites\/russellflannery\/2014\/04\/23\/hong-kong-billioniare-lawrence-hos-summit-ascent-boosts-stake-in-russian-casino\/\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"broken_link\">gains majority control of a casino project<\/a> in Vladivostok. Once completed, it will be <strong>Russia<\/strong>&#8216;s second-only operational casino. Ho&#8217;s partner, <strong>Oleg Drozdov<\/strong>, is in custody, which created a bit of a problem, one that Ho is solving by taking him out of the project.\u00a0\u201cThe unexpected detention of Mr. Drozdov has created unforeseen financing constraints\u201d read the official announcement. Drozdov still holds a 15% stake but Ho&#8217;s share has risen to 65%. The casino will be small by U.S. standards: 800 slot machines and 25 table games.<\/p>\n<p><strong>There&#8217;s been a huge<\/strong> managerial shakeup at <strong>Zynga<\/strong>, following a 36% decline in revenues. Company founder <strong>Mark Pincus<\/strong> is being kicked upstairs to the chairmanship and succeed by former <strong>Microsoft<\/strong> executive <strong>Don Mattrick<\/strong>. The latter promptly cleaned house, easing out executive vice president of games <strong>Steve Chiang<\/strong> and bringing in four new top executives. Advertising revenues were slightly up by hardly enough to offset losses of business in the game-revenue sector. &#8220;These organizational changes are critical to help us execute more nimbly against our strategic frame of grow and sustain, create new hits and drive efficiencies,&#8221; Mattrick said of the bloodbath.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Just the prospect of a James Packer-owned casino was enough to spur a Buddhist-driven protest march in Sri Lanka. Packer&#8217;s Crown Resorts has concessions to develop three resort properties and the Sri Lanka government has been talking out of both &hellip; <a href=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/packer-sparks-protests-heads-roll-at-zynga\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,176,22,37,96,116,94,147,101,71,33],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/13444"}],"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=13444"}],"version-history":[{"count":3,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/13444\/revisions"}],"predecessor-version":[{"id":22860,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/13444\/revisions\/22860"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=13444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=13444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=13444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}