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Archive for February 4th, 2019

Cary Katz Claims Aussie Millions A$100,000 Challenge Title

One of the hottest high rollers on the annual calendar of poker events wrapped up on Saturday at Crown Casino Melbourne, crowning Poker Central founder Cary Katz as its champion

Cary Katz, a businessman and a seasoned high roller player, collected A$1,481,760 (approximately $1,066,867) in prize money and recorded another major poker title to his name after topping the elite field of the 2019 Aussie Millions A$100,000 Challenge.

The tournament kicked off on Friday, February 1, and took place over two days at the host casino. It drew 42 entries, including some of the world’s best and most popular high roller experts, Katz being one of them. The field of the A$100,000 Challenge created a prize pool of A$4,116,000, and as it is usually with high rollers, there were payouts for a limited number of players.

The hefty prize pool of the A$100,000 Challenge was split into cashes for the top six finishers. Each of the final six players was guaranteed a minimum payout of A$288,120.

Katz may have ended up with the title and the top prize, but his ride to the top was not a particularly smooth one. Earlier into action, the US player confronted the eventual runner-up, Germany’s Johannes Becker, in a clash that could have cost him his participation in the tournament.

Katz limp-shoved pocket king against Becker’s pocket aces and hoped for a miracle. The board ran out a savior king and Katz doubled to gain confidence and eventually navigate through the field to claim the title.

The Final Six

Canadian poker pro Kristen Bicknell was the first player to leave the A$100,000 Challenge with a payout. Bicknell collected A$288,120 for finishing 6th. UK’s Jack Salter was the next to go. His fifth-place finish secured him with a payout of A$329,280.

German poker star Reiner Kempe took 4th place in the tournament, good for A$452,760. Abraham Passat from the UK was the next to bust. He took A$617,400 for his third-place finish. With that, Becker and Katz were the only two players left at the final table of the Aussie Millions A$100,000 Challenge.

Becker held a considerable chip lead at the start of Day 2 of the tournament, but it was Katz who led at the beginning of the heads-up duel. The eventual champion quickly extended the gap and eliminated his final opponent shortly after the final break of the night. Becker collected A$946,680 for his efforts and his deep run in the prestigious tournament.

As for Katz, he claimed his fifth seven-figure payout from a poker tournament and the ANTON championship ring. Including Saturday’s cash, the player now has more than $18 million in live tournament earnings.

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The post Cary Katz Claims Aussie Millions A$100,000 Challenge Title appeared first on Casino News Daily.

New Round of Atlantic Club Sale Reports Emerges

Another Atlantic City Boardwalk property might have found a new owner after New York hedge fund Luxor Capital Group agreed to buy Ocean Resort Casino, the former Revel, from Colorado businessman Bruce Deifik

A notice of settlement for the sale of the shuttered Atlantic Club Casino Hotel has been filed with Atlantic County, but the property’s current owner denies a transaction is to take place, The Press of Atlantic City reported on Saturday.

Notices of settlement are typically filed when details about the sale of a property are finalized. The Atlantic Club notice was filed on January 15 and listed the closed hotel and casino resort’s current owner – Florida-based TJM Properties – as the seller and Jeffrey Smolinsky as the buyer on behalf of North American Acquisitions.

According to its LinkedIn profile, North American Acquisitions is a Philadelphia-based investment management company that specializes in the sale of “privately held businesses […] with revenues between $1 million and $100 billion.” Mr. Smolinsky is listed as a Senior Partner in the firm.

Despite the notice of settlement filing, the Atlantic Club’s current owner told The Press of Atlantic City that there was no active contract. A spokesperson for TJM further explained that the company has spoken with Mr. Smolinsky “a handful of times” but has not heard of him for weeks now.

The notice of settlement does not list a purchase price for the closed Boardwalk casino resort. As mentioned earlier, news about the Atlantic Club potentially being sold emerge just shortly after Bruce Deifik confirmed that he was selling Ocean Resort Casino to Luxor Capital Group just a year after he acquired what had formerly operated as Revel.

The Atlantic Club Sale Saga

The Atlantic Club originally opened doors as Golden Nugget Hotel & Casino in 1980. The property was renamed on several occasions during its 34 years of operations until it was shuttered in January 2014 to become the first of an unfortunate streak of Boardwalk closures that saw four more properties close doors in the following two and a half years.

Caesars Entertainment Corp. and Tropicana Entertainment bought the property ahead of its closure, with Caesars assuming ownership of the former hotel and casino. The Las Vegas casino giant sold the resort to TJM Properties in May 2014.

The Florida-based developer was on the verge of selling the unfortunate property on several occasions but all negotiations eventually fell through every time.

Most recently, New York real estate firm Advanced Consulting Inc. revealed late last year that it wanted to buy the Atlantic Club and turn it into a non-gambling hotel resort. Back in August 2018, Stockton University announced plans to buy the shuttered Boardwalk property as part of its Atlantic City expansion. The university opened last fall its new beachfront campus in the popular resort destination.

Stockton officials said that they were interested in a nine-level garage and the land occupied by the Atlantic Club and that they would demolish the property. However, that deal failed, as well. Previous negotiations about the sale of the shuttered resort involved its purchase by a development group that wanted to redevelop it into a family destination resort with a water park.

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