Support Dropping for Massachusetts Casinos, Poll Says

Even in the very best of times, the idea of allowing large casino resorts in Massachusetts had been a controversial one. Still, the residents of this state seemed to support the idea generally at least until recently. Now, a new poll has shown just exactly how far help for the casino law has fallen.

Anti-casino sentiment is growing throughout Massachusetts. (Image: AP)

In accordance with a poll released this week by Suffolk University and the Boston Herald, only 37 per cent of Massachusetts voters now support having casinos into the state, while 47 per cent oppose the idea (15 per cent had been undecided). That’s a shakeup that is huge the state’s opinion of expanded gambling: as recently as February, 51 percent of voters said that they were in support of the new casinos.

Potential Repeal Vote Looms

If everyone’s viewpoint of the casino legislation wasn’t considered especially important in the past, that view could easily change later this year. Massachusetts’ Supreme Judicial Court is debating whether a measure to repeal the casino law should be allowed on a statewide ballot in November, plus the new numbers recommend that voters might kick the casinos from the state if provided the possibility.

‘It appears like you’ve possessed a major shift in opinion while the reality of casinos and the regressive nature of what happens with the placement of gambling enterprises in Massachusetts in addition with a of this social dilemmas,’ stated David Paleologos, director regarding the Suffolk University Political Research Center.

Casinos Cite ‘Fatigue’ Among Residents

Casino officials attempted to put a spin that is positive the numbers at least to the extent that they could. There have been lot of issues in the licensing and approval process, and MGM Springfield spokesperson Carole Brennan said that stories about those battles may have temporarily soured the public on gambling enterprises all together.

‘a licensing that is long may have resulted in casino fatigue for a few residents associated with Commonwealth,’ she stated in a declaration. ‘But we’re optimistic that MGM Springfield will likely be designated the Mass that is western licensee and which will show voters that tens of thousands of new jobs and strong economic opportunities are real results, maybe not just slogans.’

The Suffolk poll also asked about where a Greater Boston region casino would make sense: either in Revere or Everett. Revere had been favored, but that isn’t to say it was popular statewide; just 18 percent said they thought Revere made sense being a casino location, in comparison to five percent for Everett. An astonishing 56 per cent said that neither location made feeling to them.

For anti-casino activists, this reinforced the concept that people were taking into consideration the whole state, rather than just their towns.

‘we think the tied as turned,’ said Steven Abdow, a leader of Repeal the Casino Deal. ‘ People realize more and more that they wouldn’t want one in their community…and the issue’s not really about my backyard, it’s about the continuing state.’

Although the numbers aren’t great, none of this means casinos in Massachusetts are condemned. It’s likely that the state gaming payment will award MGM a license in the next few days, and the courts may well rule that the casino repeal question can’t show through to the ballot. Even if it does, there might be voters who aren’t happy about the casinos, but would not go so far as to vote for rescinding licenses from the casinos and the casino designers could have plenty of time for you launch another PR blitz to state their situation before voters went back once again to the polls.

PokerStars Buyout by Amaya Gaming Imminent; Stock Trades Halt

Rumors of an acquisition that is imminent Amaya Gaming of PokerStars could be a major game-changer in the US online poker market. (Image:

A rumor that’s been circulating for several weeks now after a hefty 28.7 percent two-day stock spike, Canadian technology group Amaya Gaming’s stock trading was halted amidst industry rumors of an imminent PokerStars buyout. With tips that global investment underwriter Blackstone Group is behind the $1 billion money of the key acquisition, it appears the deal could be announced officially within twenty four hours, although no one from any facet of the deal has commented as of the writing.

It’s believed that the motivation for the buyout that is vital to offer PokerStars and parent business Rational Group a better chance at the US online video gaming market. Ever since the events of Ebony Friday plus the ensuing Department of Justice issues with several key numbers who nevertheless have some PokerStars involvement, that integrity cloud has hovered over the major online player, and also to date, has precluded their re-entry in to the potentially massive online poker market that is american.

With Amaya’s name on the doorplate, PokerStars may look more appealing to regulators who are wary of anything also somewhat off-base in the current precarious and ever-changing gaming that is online; New Jersey recently made their ‘nothing but regulated web sites’ stance clear as a bell, and that seems to be the directing tenet into the online gaming stratosphere now.

Blackstone has been a natural choice as an investment partner for Amaya in the buyout, having previously funded the company’s Cadillac Jack purchase a slot maker for a far more modest $167 million, via Blackstone’s credit division, GSO.

PokerStars Comes Back to Life with Amaya Gaming Buyout

With a $4.9 billion purchase price, Amaya Gaming’s buyout of Rational Group and PokerStars causes it to be a monster into the gaming industry that is online. (Image: PokerStars)

They say the opera ain’t over till the fat lady sings, but in this case, you can change that to ‘fat pet,’ and possibly have a more story line that is accurate. The Rasputin of Internet poker sites industry giant PokerStars, under the umbrella of its parent, Rational Group may rise like the now phoenix on the American poker scene once again, following a dramatic $4.9 billion buyout by Canadian technology company, Amaya Gaming.

The buyout also contains Full Tilt Poker, of course, which was purchased by PokerStars simply two summers ago, in 2012, for $731 million, as part of the feds to its settlement deal. With the acquisition that is enormous Amaya becomes the single biggest publicly traded online gambling company on the world, offering it a power that will probably soon be felt across the United States such as an earthquake.

Not Blackstone As Rumored

Despite earlier rumors that global financing ensemble Blackstone Group was the money behind the purchase, that was not the case; backing has been spread among well-known gaming money outfits Deutsche Bank (which just recently let go of the Cosmopolitan on the Las Vegas Strip, to, ironically, Blackstone Group), Macquarie Capital and Barclays Bank. That banking triumvirate represents some $2.9 billion in secured credit and loans, while another billion is coming through the issuance of convertible shares that are preferred.

The remaining of the $4.9 billion sale price is coming from subscription receipts which will ultimately convert to typical shares, also money on hand directly from Amaya itself. The purchase gives Amaya 100 percent ownership of all outstanding stocks of this Oldford Group Limited, which is in turn Rational Group’s parent company.

Moving Shares and Stepping Down

An official news release on the mammoth sale noted that all Oldford Group shareholders including CEO Mark Scheinberg will move their shares inside their entirety to a ‘wholly owned subsidiary of Amaya.’ In addition, Scheinberg and other executives at Oldford, Rational and any existing subsidiaries of the companies will be resigning.

The move appears to have been made with the primary goal of getting PokerStars and Full Tilt back into the regulated US online poker scene, a proposition that had been made nigh unto impossible due to ‘bad actor’ language in major legal Internet gambling states Nevada and New Jersey as well as being held as a definite possibility for impending legislation in California to no one’s surprise.

The press release notes that the sale will ‘expedite the entry of PokerStars and Full Tilt Poker into regulated markets in which Amaya already holds a footprint, particularly the USA.’ Without the ubiquitous black cloud of Black Friday hovering over the online that is famous brands’ heads, PokerStars and Full Tilt should finally be capable of geting back in to the company to be running a business in America.

Amaya CEO David Baazov sounded like a politician that is seasoned his press release comments about the progress.

‘Mark Scheinberg pioneered the online poker industry,’ Baazov said. ‘Working aided by the experienced executive team at Rational Group, Amaya will carry on that tradition of excellence and accelerate growth into new markets and verticals.’

Amaya has also guaranteed players at both PokerStars and Full Tilt that they anticipate no jarring changes within the essential formats of the sites, nor do they expect any interruption of service.

MGM First Massachusetts Casino that is awarded License

Officials in this Massachusetts city hope that MGM Springfield can bring economic advantages without disturbing the city’s historic downtown area. (Image: MGM)

After years of debates, delays, protests and conferences, it is official: today, the Massachusetts Gaming Commission offered approval to issuing a license to MGM for the company’s $800 million casino resort proposal in Springfield. But in one of the more gambling that is contentious in the united states of america, even that is coming with some contingency plans just in situation things do not go quite since planned.

Now their state’s Supreme Judicial Court must decide by July 9 whether to allow a state ballot concern that could potentially repeal land that is allowing in Massachusetts at all.

Fees Delayed Due to vote that is potential

However, your choice includes some conditions that MGM asked for due to the uncertain situation in Massachusetts. This November has at least opened up the possibility that MGM and other licensees may never get to build their resorts while the casinos certainly have the edge (when do they not?), the prospect of a potential repeal vote for the casino law.

With the results of both that court choice and a potential statewide vote unknown, MGM has been granted a couple of delays in paying their certification charges.

Usually, the $85 million licensing charge would be due approximately 30 times following a license was awarded. Should the courts rule that the repeal question won’t show up on the ballot, that due date will largely stay intact: MGM would have until mid-July to make their re payment. But should the question carry on the ballot, the company won’t be required to pay the fee unless the measure is defeated. This is made to protect the company from a fee that is potentially non-refundable their state’s voters end the casino expansion plan.

‘We’re going to work alongside [MGM] to accommodate these other eventualities. These are just accommodations that are business-like these realities,’ said Gaming Commission Chairman Stephen Crosby.

MGM Springfield President Michael Mathis agreed that adjusting the fee framework was critical towards the project moving forward.

‘Many recognize the situation that is difficult we are in,’ Mathis stated. ‘ We want to get to the office and to fully grasp this project going.’

State Hopes for Economic Benefit, Out-of-State Gamblers

Massachusetts hopes that the MGM Springfield will not only be able to help to keep gamblers from the certain area into the state, but also that it will attract gamblers from Connecticut and New York that currently travel to the two Connecticut gambling enterprises, Foxwoods and Mohegan Sun. They additionally expect it to greatly help lift the fortunes of a city that is struggling.

‘The MGM proposition is really a truly ambitious and effort that is unusual use the economic muscle mass of the casino development to operate a vehicle redevelopment of an entire depressed urban area,’ Crosby stated.

MGM also had to agree to some conditions in an effort to receive the license. The gaming commission proposed that the casino hire at least 35 percent of their employees from Springfield, and that the casino minimize its interference on the downtown area during construction. MGM stated that they did not object to these terms.

‘MGM is very appreciative of today’s…vote to honor us the Western Massachusetts permit,’ said MGM Springfield representative Carole Brennan in a statement.