{"id":25951,"date":"2020-01-28T10:59:55","date_gmt":"2020-01-28T18:59:55","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=25951"},"modified":"2022-02-05T10:33:57","modified_gmt":"2022-02-05T18:33:57","slug":"spectrum-under-the-microscope-super-bowl-bets-boffo","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/spectrum-under-the-microscope-super-bowl-bets-boffo\/","title":{"rendered":"Spectrum under the microscope; Super Bowl bets boffo"},"content":{"rendered":"

Expected approval of Spectacle Entertainment<\/strong>‘s casino project in Terre Haute<\/strong> came to a screeching halt after revelations that former state Sen. Brent Waltz<\/strong> received illegal campaign contributions from an executive at Spectacle predecessor Centaur Gaming<\/strong>. The disclosure was enough for \"\"the Indiana Gaming Commission<\/strong> to open an investigation<\/a> into Spectacle.\u00a0“The information we received is concerning and the commission has begun a review pursuant to its statutory responsibilities into this matter,” read an official statement. Political consultant Chip O’Neil<\/strong> pled out to charges of making unlawful campaign contributions in 2o15. “Records indicate O’Neil received more than $15,000 from an Indianapolis<\/strong>-based gaming company, believed to be Centaur, through fake invoices and contracts for services prepared by the company’s vice president and general counsel” reads one report. The payments were structured to fly below the radar in amounts of $2,700 each.<\/p>\n

The spotlight of suspicion falls on former state Rep. John Keeler<\/strong>, current general counsel for Spectacle and former corporate counsel for Centaur. \"\"Possible motives for Centaur wanting to place Waltz in Congress are not yet known. As though the news weren’t bad enough, Spectacle\u00a0could also be the target<\/a> of a federal probe. O’Neil has already flipped on Centaur, which bodes ill for Spectacle’s suitability hearing.\u00a0“I wouldn’t\u00a0be surprised if there\u2019s already a sealed indictment of the company,” said attorney Brent Akerman<\/strong>. Waltz’s chances look better than Spectacle’s, since he was only the recipient, not the instigator.<\/p>\n

This isn’t Spectacle’s first time in the hot seat. It drew scrutiny for jetting Gov. Eric Holcomb<\/strong> (R, pictured<\/em>) and his wife around the Hoosier State, in a in-kind donation to the Holcomb cause. (Casino companies are prohibited from \"\"making monetary donations, thanks to a backwards Indiana law.)\u00a0\u201cOur gaming regulations are some of the toughest in the country. We are known to put a lot on vendors and applicants. It\u2019s not a huge surprise that this is delayed a little bit,” said state Sen. Jon Ford<\/strong>. More complacent was<\/a> Vigo County Commissioner Brad Anderson<\/strong>, who said, “You know, not knowing anything about Spectacle other than they are a large company. We just look at it as a great opportunity for our community with the jobs and the investment that Spectacle is willing to pay. The referendum\u00a0showed that people want the gambling here – the majority. And the income and the tourism side of it.” In other words, keep moving, nothing to see here.<\/p>\n

* Legal Super Bowl<\/strong> betting is expected to reach $400 million, a record amount. “An interesting matchup that is nearly a pick ’em will help spur action, too. As a result, records in states such as Nevada<\/strong> and New Jersey<\/strong>, \"\"where both online and retail sports betting were legal for last year’s game, are also in jeopardy,” said PlayUSA<\/strong> analyst Dustin Gouker<\/strong>. Not only do 13 states now permit sports betting, eight of them have mobile wagering, which should really propel the action. Last year’s handle in Nevada was $146 million, that in New Jersey $35 million (with the Garden State’s books posting a $4.5 million loss). Prop bets aside, the Kansas City Chiefs<\/strong> are 1.5-point favorites, with the over\/under for the game set at 54 points, so we guess defense isn’t going to win championships this year.<\/p>\n

The American Gaming Association<\/strong> estimates that 26 million of us will place Super Bowl wagers, which translates to one in 10 Americans. Likely punters are favoring the Chiefs slightly (52%).\u00a0\u201cI have absolute confidence \"\"that Americans didn\u2019t start betting on sports when the Professional and Amateur Sports Protection Act<\/strong> was overturned,” said AGA President Bill Miller<\/strong>. “What makes this year\u2019s Super Bowl remarkable is that more fans than ever before will have the reassurance that the integrity of their bets on the big game will be preserved.”\u00a0\u201cIt\u2019s probably going to be eight times larger than any other event,\u201d added BetMGM<\/strong> Vice President of Trading Jason Scott<\/strong>, whose books began taking<\/a> 49ers\/Chiefs bets even before the San Francisco 49ers<\/strong>‘ win over the Green Bay Packers<\/strong> was official. As for those props bets, MGM Resorts International<\/strong> will be offering at least 300. While you can’t be the over\/under on the national anthem, that didn’t stop Westgate Las Vegas<\/strong> from coming up with 442 (!) props bets last year.\u00a0\u201cIt really is an art and a science,\u201d says William Hill<\/strong>‘s Todd Bogdanovich<\/strong>. Ain’t that the truth?<\/p>\n