As everyone knows, things are getting dicey in casino paradise.
Now shareholder rights attorneys at Robbins Arroyo, LLP are investigating the proposed acquisition of Caesars Acquisition Co. by Caesars Entertainment Corp. Just before the holidays, the two companies made an announcement that they had signed a “definitive merger agreement.”
Under the terms of the agreement, Caesars Acquisition shareholders will receive $8.96 for each share of Caesars Acquisition common stock based on the December 19, 2014 closing price.
Posted in Casino industry, Gaming industry news, Legal
One year ago, there were three. And today, the same three remain – New Jersey, Delaware, and Nevada.
Although these states have already been established as lawful participants in the online gambling market, efforts are still being made to reverse any gains online gambling has made in the U.S. in recent years.
In August, the National Conference of State Legislatures (NCSL) took a formal stance urging the federal government to continue to allow states to regulate their own gambling.
Posted in Casino industry, Legal, News, online gambling, Uncategorized
One of the requirements of legalized and regulated online gambling is that online casinos must be connected with a brick and mortar casino. However, there is a bit of a loophole. Trump Plaza in New Jersey is — following rampant speculation and expectations – closing its doors, but their London based online partner Betfair will be allowed to continue to operate until the Trump Plaza license is revoked.
At that point, Betfair will have to find another brick and mortar casino to partner with, or will have to shut down their website. Since Betfair already has a steady client base, partnering with another casino may not be too difficult unless it infringes upon contractual agreements with other online developers.
Posted in Announcements, Legal, News, online gambling
Yeah, I’ll have a cheeseburger with fries and a Coke Biggie Sized. What, I thought this was a café? Oh, an Internet café, where you have multiple computers in one place and you can utilize the Internet in a public setting. Well Kern County has put the kibosh on real Internet cafés, but apparently there are Internet café’s online as well. Kind of like a group forum, or chat room.
The issue at hand with Internet cafés, according to onlinecasinoreport is, “it is very easy to participate in online gambling this way.” Phillip Walker, a member of the online café association of California says that, “all you need to do is visit these websites, get an ID, log into the account and then you can have access to online gaming.”
So, last time I checked, California hasn’t legalized online gambling. Consequently, “the FBI has warned players that they should think again before they visit these online gambling websites. The FBI website states that cyber companies and casinos that allow wagering or transferring of money for the purposes of gambling is strictly against the law.”
Posted in Legal, News, online gambling
The Justice Department has launched a federal investigation, researching consumer bank fraud in regard to many banks and payment firms turning a blind eye to unauthorized transactions.
It goes without saying that consumers rely on banks and payment firms to put safeguards in place to identify illegally withdrawn funds. But in the case of payday lenders, online casinos, and gun dealers many banks are ignoring their safeguards for their own financial gain.
The investigation is titled “Operation Choke Point” and it comes in response to a high volume of complaints of bank fraud and funds begin withdrawn without permission, Pymnts.com reports.
Posted in Announcements, Legal, News, online gambling
When surfing the Internet, we all expect a certain level of anonymity. While we all know that our IP address can be recorded, as well as data gathered from web browsers, we all expect to have much of our personal information protected. In fact, there are many laws in place designed specifically for online consumer privacy. However, online gambling is changing internet privacy once and for all.
In order to offer online gambling, each state must ensure that their approved online gambling sites have built-in security features to ensure that gamblers are both of age, and from within the geographic boundaries of that particular state. While these protocols are essential and logical, it also means that more personal consumer information must be gathered by doing far more than typing an age or address into the appropriate on-screen fields.
Posted in Casino industry, Gaming industry news, Legal, News, Privacy
Nevada, Delaware, and New Jersey are all seeing a significant increase in their gambling revenue made possible by the addition of online gambling.
The additional revenue that online gambling has the potential to generate has many states such as California and Illinois weighing the pros and cons. But many believe that Pennsylvania may be next.
Even though not all states are generating the revenue they hoped for, all three states where online gambling is legal are now raking in millions in revenue. It is this impressive earnings potential that has Pennsylvania taking notice. Currently Pennsylvania is looking at being around $1 billion dollars short of their annual budget, so online gambling-related taxes could help to close the gap.
Posted in Legal, online gambling, Regulations
According to a report published Tuesday in The Hill, a coalition of libertarian groups has come forward to oppose efforts that would effectively ban online gambling at the federal level.
The coalition calls the controversial bill in question “an inappropriate and unnecessary use of federal powers that infringes on the rights of individuals and states.”
Last month, both Democratic and Republican lawmakers introduced bills in the U.S. House of Representatives and U.S. Senate that aim to kill an industry before it’s even born.
Posted in Casino industry, Gaming industry news, Legal, Mobile Gaming
One of the the giants in online and mobile gambling, SuperCasino, is stepping forward to voice strong opposition to lawmakers looking to ban online gambling at the federal level.
Not surprisingly, the company would like to see the nascent online gambling market in the U.S. continue to flourish.
Speaking against the National Conference of State Legislatures to a proposed nationwide online gambling ban, SuperCasino is making its case by arguing for states to determine their own destinies on this matter.
Posted in Gaming industry news, Legal, Regulations
As online gambling evolves into a thriving young industry (despite being a regulated legal activity in only three U.S. states today), educators are bracing for the legal impact that the more widespread adoption of online gambling could have on a diverse array of industries.
Consequently, individuals pursuing their law degree may soon find online gambling to be a part of their coursework.
According to a new report from BizJournals, Albany Law School is going to roll out a new academic concentration in “equine, racing and gaming law” this fall.
Posted in Gaming industry news, Legal