{"id":18002,"date":"2016-03-28T10:02:15","date_gmt":"2016-03-28T18:02:15","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=18002"},"modified":"2021-01-03T06:02:36","modified_gmt":"2021-01-03T14:02:36","slug":"dfs-becomes-political-football-more-trouble-for-pokerstars","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/dfs-becomes-political-football-more-trouble-for-pokerstars\/","title":{"rendered":"DFS becomes political football; More trouble for PokerStars"},"content":{"rendered":"

Add Yahoo<\/strong> to the list of daily fantasy sports providers that are tiptoeing out of New York State<\/strong> under an accord with state Attorney General Eric Schneiderman<\/strong>. The \"Pretlow\"latter has said that if the issue can’t be resolved in the Lege, it would be hashed out in court<\/a>. The state Senate has already booked DFS-derived revenue in its budget but Assemblyman Gary Pretlow<\/strong> (D, left<\/em>),\u00a0while amenable to DFS, is saying ‘not so fast.’ Promising a “fair” outcome, Pretlow told reporters,\u00a0“I don’t have enough time to go through all of the nuances that we have to do because we want to do this right.\u00a0We have until actually the end of the session to come up with a bill. I’m pretty sure [Gov. Andrew Cuomo<\/strong>]\u00a0will sign it once we do it. But I don’t want to just look at what the fantasy industry has offered or suggested.” Pretlow was also optimistic about the chances for legalized online poker<\/a>, saying,\u00a0\u201cIf I can get assurances that the brick-and-mortar operations are all a part of it, then we will probably move the bill this year.\u201d<\/p>\n

Elsewhere in the country, DFS moved forward, backward and sideways, depending upon what state you visited. Indiana<\/strong> Gov. Mike Pence<\/strong> (R) signed a pro-DFS bill into law, one very similar to Virginia’<\/strong>s, and Minnesota<\/strong> legislator Tim Sanders<\/b><\/span>\u00a0introduced the most DFS-friendly bill yet, one that would exempt the industry from registration fees and state oversight, while lowering the playing age to 18. An Iowa<\/strong> bill that would regulate DFS and impose a 7.5% tax on gross gaming revenues has drawn some opposition from the state’s casino industry, which pays as much as 24% (it’s a graduated rate). Hard Rock Hotel & Casino<\/strong> spokesman Jeff Boeyink<\/strong> said,\u00a0\u201cWe would prefer that this activity …\u00a0is taxed the exact same way that we tax gambling at our facilities so there\u2019s never a situation where you could price these differently for consumers because there\u2019s a tax advantage of one form of gambling over another form of gambling.\u201d Note that Boeyink describes DFS as “gambling,” a breath of fresh rhetorical air where this corner\u00a0of the sports-betting biosphere is concerned<\/p>\n

What Boeyink wants is very similar to what the Missouri<\/strong> state Senate is pondering, with a 21% tax rate and no admission for players under age 21. Tribal opposition to DFS has stymied or outright killed DFS bills in Oklahoma<\/strong>, Wisconsin<\/strong>, Florida<\/strong>, Arizona<\/strong> and — the big enchilada — California. A tribal compact presents a high hurdle for a DFS law to overcome. Much to the consternation of DFS lobbyists, Maryland<\/strong> has punted the DFS question to the voters, putting acceptance or rejection of the game onto the November ballot.<\/p>\n

* Amaya Inc<\/strong>. CEO David Baazov<\/strong> could be facing jail time<\/a> after charges of insider trading were filed against him and two other Amaya execs. The alleged impropriety is said \"Davidto have occurred when Amaya stock ran up prior to the acquisition of The Rational Group<\/strong>, parent company of PokerStars<\/strong> and Full Tilt Poker<\/strong>. Three other companies are looking at charges in the Amaya probe. “The [Autorit\u00e9 des March\u00e9s Financiers<\/strong>] also announced it had executed search warrants and obtained freeze and cease-trade orders in regards to 13 other individuals tied to mergers and acquisitions involving Amaya,” reported Global Gaming Business<\/em>. “We’re talking about insider trading,” said the AMF’s Sylvain Th\u00e9berge<\/strong>. Baazov insisted upon his innocence, saying he would be found innocent and “have always been proud of my reputation for personal integrity and ethical business conduct.”<\/p>\n

Amaya also through a few sacrificial lambs under the bus, pointing the finger of blame at a former consultant and an employee. An Amaya-commissioned review of the incident also absolved the company of any blame and “concluded that no action should be taken.” The timing of the indictments could hardly be worse, coming just as PokerStars has gone online in New Jersey<\/strong>. This also reinforces charges that the latter company is a “bad actor,” an accusation that dogs the company like a persistent flu virus. The Quebec<\/strong> prosecution can also expected to hinder Baazov’s attempts to take the company private.<\/p>\n

* Caesars Entertainment<\/strong>‘s effort\u00a0to enter the South Korea<\/strong> market may be in danger of foundering. Partner Lippo Ltd<\/strong>. is said to be leery of Caesars’ precarious financial position. What took them so long?<\/p>\n","protected":false},"excerpt":{"rendered":"

Add Yahoo to the list of daily fantasy sports providers that are tiptoeing out of New York State under an accord with state Attorney General Eric Schneiderman. The latter has said that if the issue can’t be resolved in the … 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":[109,26,36,7,68,37,189,72,43,39,101,115,178,33,187,170],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/18002"}],"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=18002"}],"version-history":[{"count":3,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/18002\/revisions"}],"predecessor-version":[{"id":29037,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/18002\/revisions\/29037"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=18002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=18002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=18002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}