{"id":19131,"date":"2016-11-15T09:48:23","date_gmt":"2016-11-15T17:48:23","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=19131"},"modified":"2018-11-10T10:31:55","modified_gmt":"2018-11-10T18:31:55","slug":"ivey-loses-a-round-freeman-loses-it","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/ivey-loses-a-round-freeman-loses-it\/","title":{"rendered":"Ivey loses a round; Freeman loses it"},"content":{"rendered":"

Emboldened by a federal court ruling that Phil Ivey<\/b> and an associate violated the New Jersey Casino Control Act<\/b> by using “edge sorting” to alter the odds of baccarat in their favor, Borgata<\/b> is upping its demands against the pair, requesting $15.5 million in damages. That not only covers the $9.6 million that Ivey and co-defendant Cheng Yin Sun<\/b> won from the casino but “expectation damages” of $5.4 million, based on the ‘expectation’ that without edge sorting, Ivey would have lost $5.4 million, not won almost twice that amount. Oh, and Borgata wants to be refunded for interest and for $249,000 in comps. Casino.org<\/b> took a jaundiced view of the latter claim, opining that “private jets were involved or they were drinking Chateau Margaux<\/b> by the bath-load.”<\/p>\n

* Damn those pesky anti-money-laundering rules! That seems to be the coded message coming from American Gaming Association<\/b> President Geoff Freeman<\/b> when he calls for the incoming Trump administration to “block overzealous efforts that add unnecessary costs \"Geoff_Freeman\"and inefficiencies to our business.” We’ve been puzzling over Freeman’s anti-government rhetoric for a few weeks but we think we’ve deciphered it. “Costs and inefficiencies” can only apply to AML compliance because it is one of the very few areas in which federal policy affects the gaming industry and the only one in which the Obama administration has taken an active stance. So what if a few drug lords launder money in Sheldon Adelson<\/b>‘s casinos? Better that than “costs and inefficiencies,” right?<\/p>\n

In other AGA point-making, Freeman calls upon the next administration to open the borders to tourists, “many of whom are interested in enjoying the casino gaming experience” and to pursue policies that boost consumer confidence and increase discretionary spending. At the moment, Trump + tourism = ? However, given all the talk of impending trade wars and tariffs that would drive up the cost of consumer goods (and consequently drive down casino revenue), Freeman’s “Morning in America” rhetoric seems, if not misplaced, at least premature.<\/p>\n

* MGM Resorts International<\/b> CEO Jim Murren<\/b> may have lost the election but he’s declaring victory<\/a> in the pay-for-parking war. Locals can expect to start shelling out for parking spots at MGM properties, starting Dec. 29. We’d bet the house on it.<\/p>\n","protected":false},"excerpt":{"rendered":"

Emboldened by a federal court ruling that Phil Ivey and an associate violated the New Jersey Casino Control Act by using “edge sorting” to alter the odds of baccarat in their favor, Borgata is upping its demands against the pair, … 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":[23,60,42,14,174,189,11,12,9,19],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/19131"}],"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=19131"}],"version-history":[{"count":4,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/19131\/revisions"}],"predecessor-version":[{"id":22895,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/19131\/revisions\/22895"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=19131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=19131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=19131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}