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Archive for February 5th, 2019

Bryn Kenney Emerges Victorious in Aussie Millions Main Event

Bryn Kenney, one of poker’s most successful players, took down this year’s Aussie Millions Poker Championship Main Event for more than A$1.2 million in prize money

With live tournament earnings of more than $26.6 million and wins in some of the world’s most challenging poker tournaments, Bryn Kenney is one of the best players of our time. And he cemented that reputation just a few hours ago by taking down the record-breaking 2019 edition of the Aussie Millions Main Event.

The A$10,600 buy-in event drew a record-breaking 822-strong field that created a prize pool of A$8.22 million. Kenney was the player to scoop the largest slice of that amount, but overall the top 88 finishers received a share of the money, min-cashes starting from A$15,600.

The Main Event kicked off on January 27 and concluded earlier today as part of the Aussie Millions festival at Crown Melbourne.

The record field of the tournament had been whittled down to just the final seven when action resumed for the last day of play earlier today at the host casino. Kenney did not have a comfortable start of final day play. The player was the short stack when cards were thrown in the air.

However, two doubles within the first 50 hands of play helped the popular poker pro gain momentum and improve his stack significantly.

Three-Way Deal

The highlight of the day was the lengthy three-handed match that involved Kenney, his fellow American poker pro Mike Del Vecchio, and Australian Andrew Hinrichsen. During three-handed action, Kenney managed to score another important double, in order to keep himself in contention.

Eventually, the player pulled ahead, but his fellow survivors proved a particularly big challenge. Chips swung back and forth for the better part of 100 hands. After a break, the three remaining hopefuls agreed to look at the numbers and consider a three-way deal.

A deal was eventually struck, and Kenney, holding the biggest stack at the time, collected the amount of A$1,272,598 and the ANTON jewelry bracelet for the winner. Del Vecchio’s share of the prize pool totaled A$1,272,162, while Hinrichsen scooped the third-largest cash of A$1,097,740.

As mentioned earlier, including his latest payout, Kenney’s live tournament winnings now amount to more than $26.6 million. Aside from his latest poker triumph, the player has also previously won a WSOP gold bracelet, a PCA $100,000 Super High Roller, and a PCA $50,000 High Roller. Kenney currently ranks ninth in the global all-time money list of the winningest tournament players.

Kenney took down the Aussie Millions Main Event just days after businessman and poker pro Cary Katz won the Aussie Millions A$100,000 Challenge for A$1,481,760 and an ANTON championship ring.

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The post Bryn Kenney Emerges Victorious in Aussie Millions Main Event appeared first on Casino News Daily.

Genting’s Singapore Resort Gets Three-Year Casino License Extension

Genting Singapore’s Resorts World Sentosa gets three-year casino license extension as parent company prepares for Japan bidding process

Genting Singapore, a subsidiary of major Malaysian gaming and hospitality operator Genting Group, said last week that the Casino Regulatory Authority of Singapore has renewed its casino license for the operation of the Resorts World Sentosa integrated resort.

Genting Singapore further pointed out in a statement that its license has been extended for another three years with effect from February 6. The company operates the Singapore-based hotel and casino resort through its wholly owned subsidiary Resorts World at Sentosa Pte Ltd. subsidiary.

Resorts World Sentosa opened doors on the island of Sentosa, located off Singapore’s southern coast, in February 2010. The property is one of two integrated resorts with dedicated casino gambling space that were authorized by the government of the city-state back in the 2000s, the other one being Marina Bay Sands.

Singapore officials moved to lift a four-decade ban on gambling and legalize casinos within larger integrated resorts in a bid to revive the island-nation’s slackening tourism industry.

Although lawmakers authorized the construction of just two integrated resorts with Las Vegas-style casinos, Singapore quickly cemented itself as one of the world’s top three gambling hubs, with Macau and Las Vegas being the other two. In addition, the city-state’s legal casino framework eventually turned into the gold standard by which Japan crafted its own casino regulations.

Genting Singapore’s Japan Ambitions

The global casino field is preparing for what could be the biggest-ever licensing race. Japan legalized casino gambling just over two years ago and is now gearing up preparations to start the bidding process for three licenses for the operation of gaming facilities at three integrated resorts.

A number of major gaming and hospitality operators have expressed interest in Japan’s nascent casino market that is expected to top $10 billion once its first gambling venues open doors, and Genting Singapore has been one of them.

In a report released last summer, research firm Maybank Kim Eng said that the Singapore subsidiary of Genting Group has one significant advantage over most of the companies that will be bidding for a Japanese casino license.

Maybank analysts pointed out that with its “huge net cash pile”, Genting Singapore might be in a better position to fund a large-scale integrated resort project than its debt-laden American rivals that are eyeing entry in Japan.

According to a January monthly chart by the Singapore Exchange, Genting Singapore was among the best performing tourism-related stocks last month. The company saw its return hit nearly 11% in January on the back of consistent growth in international arrivals to Singapore. The city-state saw 16 million international visitors during the first 11 months of 2018, up 6.6% year-on-year.

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More Than 20,000 Swedes Opt For Gambling Self-Exclusion

More than 20,000 Swedes have opted for gambling self-exclusion since the reorganization of the local gambling market

More than 20,000 Swedish gamblers opted to self-exclude from gambling via the national system in the period between January 1 and February 1, the country’s gambling regulator said on Friday.

According to Spelinspektionen, formerly Lotteriinspektionen, most of the people who registered into the newly launched self-exclusion system shut themselves out for an indefinite period of time. A person registered with cannot gamble at Sweden’s land-based casino and betting facilities as well as online on websites operated by locally licensed companies.

The self-exclusion system was introduced as part of the reorganization of Sweden’s gambling market. The country’s new gambling law took effect on January 1, 2019, opening the local market to international operators. Spelinspektionen said last week that it has issued 69 licenses to interested companies since the licensing process began.

Monitoring for the socially responsible provision of gambling services has become one of Spelinspektionen’s main tasks since the market was opened for operations beyond the ones provided by state-run entities.

However, the regulatory body discovered certain irregularities in the way newly licensed companies provided their services in the first days after the new regime was enforced, which prompted warnings against repeated violations and compliance failures.

Spelinspektionen Promises Hefty Fines

The Swedish gambling regulator said last month that it would not shy away from issuing fines and suspending/terminating licenses, if any of its licensees fail to comply with the terms of their permits to operate in the local market.

Spelinspektionen’s warning was prompted by its discovery that some of the locally licensed operators had failed to complete properly the integration of the national self-exclusion system. As a result, self-excluded gamblers were still able to play/wager with real money.

The regulator sent letters to all licensed companies, warning them that any of them repeatedly violating the new rules would face hefty fines and license suspension/termination. Under Sweden’s gambling law, operators breaching the existing rules and regulations could be penalized with fines that do not exceed 10% of their Swedish turnover.

News emerged last week that Swedish lawmakers could move to ban gambling ads during live broadcasts of sporting events. Swedish Minister of Civil Affairs Ardalan Shekarabi told local news outlet Aftonbladet that Swedes were tired of extremely aggressive and unrestrained advertising of gambling products and that current advertising regulations might be tightened in future if need be.

In Denmark, the CEO of gambling operator Danske Spil, Niels Folmann, suggested that the country consider the introduction of a ban on gambling ads during live sport. The executive pointed out that Denmark should draw inspiration from a code of advertising ethics UK-licensed gambling operators agreed to adopt late last year in a bid to reduce gambling-related harm.

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The post More Than 20,000 Swedes Opt For Gambling Self-Exclusion appeared first on Casino News Daily.

Wynn Resorts On Track to Open Massachusetts Casino Resort in Mid-2019, CEO Says

Encore Boston Harbor on track to swing its doors open in Everett, Massachusetts by mid-2019, CEO Matt Maddox believes

Encore Boston Harbor, the $2.6-billion integrated resort currently under development in Greater Boston, is on track to open doors on June 23, Wynn Resorts CEO Matt Maddox told investors last week.

Wynn Resorts and MGM Resorts International were picked in the early 2010s as the preferred developers of Massachusetts’ first integrated resorts with commercial Las Vegas-style casino operations. MGM debuted its $950-million MGM Springfield last August, while Wynn Resorts aims to cut the ribbon of its property in mid-2019.

However, the Massachusetts Gaming Commission is yet to rule on whether the Las Vegas gaming and hospitality powerhouse is suitable to operate an integrated resort in the state.

The Wall Street Journal released last January a comprehensive report detailing multiple sexual harassment allegations against Wynn Resorts founder Steve Wynn. The casino mogul found himself embroiled in a massive public scandal and quickly resigned from his CEO and Chairman posts in the company, vacated his Wynn Las Vegas villa, and sold his stock.

The Massachusetts Gaming Commission opened an investigation into the allegations and to what extent Wynn Resorts was involved in the scandal shortly after the publication of the WSJ article. Gaming regulators in Nevada and Macau, where Wynn Resorts operates integrated resorts properties, also commenced separate probes in the allegations leveled against the businessman.

Major Complications

With its investigation, the Massachusetts Gaming Commission aimed to discover whether high-level staff at Wynn Resorts had any knowledge of the alleged multiple incidents of Mr. Wynn using his power to subject female employees of the company to unwanted sexual advances and sexually harassing them.

The Massachusetts gambling regulator also investigated Wynn Resorts’ suitability to enter the state’s nascent casino market.

The probe was originally expected to be completed in August, but commission investigators asked for more time to review the issue more thoroughly. The regulatory body then targeted December publication of its finding, but Mr. Wynn sued in Nevada the regulator and Wynn Resorts in November, saying that the company he had found communicated pieces of information to the Commission that violated attorney-client privilege.

A Nevada judge has temporarily blocked the publication of MassGaming’s report and her final ruling is expected to come shortly.

Mr. Maddox has shown great optimism that Wynn Resorts will be allowed to open and operate its resort. The company recently settled with the Nevada Gaming Control Board. It was ordered to pay a fine, the size of which is yet to be determined and to get rid of the employees who were aware of Mr. Wynn’s doings but did not act properly.

Mr. Maddox told investors last week that the company has already pushed out those staff members. Wynn Resorts executives now hope that the Massachusetts Gaming Commission will be able to wrap up its probe by mid-March and many of them seem to believe that there will be a positive outcome.

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The post Wynn Resorts On Track to Open Massachusetts Casino Resort in Mid-2019, CEO Says appeared first on Casino News Daily.

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