{"id":17143,"date":"2015-11-03T13:03:38","date_gmt":"2015-11-03T21:03:38","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=17143"},"modified":"2015-11-03T13:03:38","modified_gmt":"2015-11-03T21:03:38","slug":"regulating-dfs-so-long-harrahs-tunica","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/regulating-dfs-so-long-harrahs-tunica\/","title":{"rendered":"Regulating DFS; So long, Harrah’s Tunica"},"content":{"rendered":"

Although he doesn’t think state government ought to\u00a0\u201cimpede one\u2019s enjoyment of fantasy sports,\u201d New Jersey<\/strong> state Sen. James Whelan<\/strong> (D, right<\/em>) thinks it’s time for the Garden State to regulate daily <\/a>\"Whelan\"<\/a>fantasy sports<\/a>. In a letter to the Division of Gaming Enforcement<\/strong>, Whelan wrote, ” we have an obligation to ensure that fantasy sports competition is fair, impartial, and transparent to everyone.\u201d He’ll face some stiff opposition from Gov. Chris Christie<\/strong> (R), who has pooh-poohed the need for oversight of the pastime.<\/p>\n

Under Whelan’s bill, DFS operators would have to clear New Jersey’s strict gaming-license application process. In return, they’d be certified as offering a game of skill. Casinos would also be allowed to participate in the DFS action. The NCAA<\/strong> won’t like Whelan’s proposed inclusion of college sports.\u00a0\u201cNCAA members have defined sports wagering as putting something at risk \u2014 such as an entry fee \u2014 with the opportunity to win something in return, which includes fantasy league games,\u201d it said in response to Whelan’s bill.<\/p>\n

In a Huffington Post<\/em> editorial, sports executive Bill Squadron<\/strong> argues that the time has come for federal legalization of sports betting<\/a>. The latter, he contends, is an “unregulated, untaxed and subterranean economy [that] has inextricable ties to the high-profile, nascent world of daily fantasy.” He argues that 2006’s\u00a0Unlawful Internet Gambling Enforcement Act<\/strong> is obsolete, never have foreseen “a high-octane, venture capital fueled sweepstakes business promising jackpot-like payouts on a daily basis.”<\/p>\n

And when the likes of FanDuel<\/strong> and DraftKings<\/strong> began wagging their big, swinging dicks in government’s face “through\u00a0a torrent of ubiquitous advertising — it was only a matter of time before \"Draft<\/a>government officials would react to such provocation.” DFS, Squadron allows, “is no less gambling than where experienced blackjack players improve their chances by making the right choices to maximize their odds.” He suggests that we look to the English model, where sports betting flourishes in the open and a “substantial industry” unto itself. Banning sports betting in the U.S. has failed he argues and the states are up to their ears in gambling, especially state-run lotteries.<\/p>\n

Squadron argues for a one-size-fits-all federal solution. That’ll be a neat trick, as the states are getting well out in front both in legislation and regulation. Squadron’s argument is compelling but will be a tough sell on Capitol Hill<\/strong>.<\/p>\n

* \u201cI can grant you the relief.\u00a0But the notion that I approve of it in the sense that I think that this is great has always troubled me.\u201d So Judge Benjamin Goldgar<\/strong> told Caesars Entertainment<\/strong> as he gaveled the $3 million sale<\/a> of Harrah’s Tunica<\/strong> to TJM
\n\"HarrahsTunicaExterior\"<\/a>Properties<\/strong>. If the latter’s name has a familiar ring, it’s the company that relieved Caesars of the Atlantic Club<\/strong>. Going over TJM is the non-gaming component of the Tunica<\/strong> casino (the gaming barges having been scrapped), including the buffet crafted by sugar-pusher Paula Deen<\/strong>, a favorite of Gary Loveman<\/strong>‘s. But G-Lo is gone and Caesars has legal bills to pay, so this is no time for sentiment.<\/p>\n