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Gambling Advertising Ban Published in Italy’s Official Gazette

Italy’s highly controversial Dignity Decree, which among other things contains provisions for a blanket ban on all forms of gambling advertising, was published on Saturday in the country’s Official Gazette after its successful passage in the government.

First mention of the potential implementation of a gambling advertising ban emerged this spring when Italy’s now Deputy Premier Luigi Di Maio said that combating social issues related to and caused by gambling would be one of his main goals if his Five Star Movement party won the country’s general election.

The Dignity Decree was introduced in Italy’s legislature in late May and passed all legislative hurdles over the next two months to eventually come into force. The piece of legislation also includes a number non-gambling-related provisions. The gambling-related matters in the decree are mostly concerned with advertising, the distribution of slot machines around the country, and measures for reducing gambling addiction among Italian consumers of both land-based and online gambling products.

Generally speaking, the Dignity Decree prohibits all forms of gambling advertising across all existing channels, including television and the Internet. The measure has been promoted as one that would limit the exposure of vulnerable people and children to gambling.

The ban was met with staunch opposition by the industry, with multiple regulated operators arguing that its implementation would nix an important advantage they had over unlicensed gambling companies. Under Italian law, only holders of licenses from the local gambling regulator were able to advertise across local media outlets prior to the implementation of the Dignity Decree.

According to industry stakeholders, the new regime would not help Italy reduce the number of gambling addicts and people with problem gambling behavior, but would rather have a counterproductive effect that would result in the growth of the black market.

Paddy Power Betfair Flags Potential Departure

Irish bookmaker Paddy Power Betfair said earlier this week that it was reviewing its Italian operation and that a potential exit was under consideration due to the looming gambling advertising ban.

The company entered the Italian online gambling market in 2012 with the Paddy Power brand. It has struggled making its local business a truly profitable one since then. It pulled the Paddy Power brand last October to replace it with its Betfair one. To promote its Italian operation, the company signed up as a sponsor of Juventus last summer. However, now as the Dignity Decree is a law, that deal as well as all other similar sponsorships involving Italian football clubs and gambling companies will likely fall foul.

Paddy Power Betfair said earlier this week that it is extremely difficult to grow in a market where advertising is banned and that an exit from Italy or an acquisition that would secure the company’s profitability in that market are under consideration.

The post Gambling Advertising Ban Published in Italy’s Official Gazette appeared first on Casino News Daily.

Poker Tournaments Starting August 13-19

For many, summer is all about fun in the sun. But an avid poker player would always be looking for a nice spot to play their favorite game. Here are some of the places where there will be some exciting poker tournaments over the next week or so. They are all designed to bring summer vibes at the tables and poker thrill everyone loves the game about. These are four of the most exciting events set to take place from August 13 through August 19.

Borgata Summer Heater

The Borgata is one of the hottest Atlantic City casinos and it is about to kick off one of its hot summer tournaments for those who are looking for exciting Boardwalk poker action. The Summer Heater will take place between August 13 and August 18 at the popular gambling venue.

It will feature a six-day No-Limit Hold’em tournament with a buy-in fee of $180. Interested players could enter it and compete for a portion of a guaranteed prize pool of $200,000. The event will feature seven starting flights and an additional final day of play.

WSOP Circuit Foxwoods

The WSOP Circuit is back and the next festival on its 2018/2019 schedule is slated to kick off mere days from now. It will take place at Foxwoods Resort Casino in Mashantucket, Connecticut from August 16 through August 27.

As WSOP Circuit festivals usually do, the Foxwoods one will too feature 12 gold ring events and several other tournaments for players from the region, the rest of the country, and the rest of the world.

The WSOP Circuit Foxwoods will begin with a $400 No-Limit Hold’em tournament with a guaranteed prize pool of $30,000. Buy-ins for the events vary from $250 to $3,250 for the No-Limit Hold’em BB Ante, and guaranteed prize pools go all the way up to $500,000.

It is actually the festival’s Main Event that will feature the highest guarantee. It is set to take place on August 24-27, and players will be able to enter it by paying the $1,700 buy-in. It is important to note that the buy-in for the Main Event as well as for the other tournaments within the WSOP Circuit has increased a bit from the previous season when Main Events buy-ins were $1,675.

JACK Poker Classic

Jack Cincinnati Casino in Cincinnati, Ohio will, too, play host to an exciting festival from a few days from now all the way through the final days of August. The JACK Poker Classic will run from August 16 to August 26 and will feature a plethora of exciting tournaments with even more exciting guaranteed prize pools.

For instance, the festival will kick off with a four-day $250 buy-in No-Limit Hold’em that will offer players the chance to win a portion of a guaranteed of $250,000 prize money.

The rest of the tournaments on the schedule will feature guaranteed prize pools of $25,000, $50,000, and $500,000 for the Main Event. Speaking of that highlight tournament, it will run from August 24 through August 26, and will feature two starting flights and one final day of play. Players will be able to play that one for a buy-in of $1,100.

Ante Up Poker Tour Reno

Atlantis Casino Resort Spa in Reno, Nevada will kindly host the next AUPT festival from August 16 through August 26. The upcoming poker event will offer players a diverse schedule of tournaments with really affordable buy-ins and thrilling guaranteed prize pools.

The festival’s schedule features 19 different tournaments, most of which single-day ones. The Main Event is scheduled for August 24 and will take place over three days. It will feature a buy-in fee of $1,100 and a guaranteed prize pool of $200,000.

The post Poker Tournaments Starting August 13-19 appeared first on Casino News Daily.

Greece Launches International Tender for €8 Billion Casino Project after Sept. 10

After a huge delay on the ambitious €8 billion Hellinikon casino project, Greece will finally launch the international tender for a license this fall. The Hellenic Gaming Commission has now invited all interested parties to submit proposals regarding the plans for Europe’s first integrated casino resort.

Back in February, the Greek Council of State gave a final approval for the construction of a major casino and entertainment resort at the former site of the Ellinikon International Airport (also spelled Hellenikon). Slated to become the nation’s biggest coastal resort and first integrated casino resort in Europe, the €8 billion project is also a key term in the country’s international bailout. This caused unrelenting pressure for launching the development as soon as possible.

The project has faced several delays over the past few years, sparking heated disputes between its proponents and environmentalists and archaeologists. Greek authorities are now aiming at finding a casino operator by the end of the year so that construction work can finally start in early 2019. The Hellenic Gaming Commission, which is the local gambling regulator, is now inviting all stakeholders to submit comments and make proposals. This public consultation about the investment project will run through September 10.

According to the regulator, the international tender for a casino license will be opened for bidding soon after that. The concessionaire who wins the tender will operate the casino for a period of 30 years. It will be part of a much larger project expected to create up to 10,000 construction jobs during development, as well as more than 70,000 direct and indirect (from the increased economic activity) jobs during the first five years of operation.

The Largest Tourism & Gaming Destination in Greece

In an official announcement, the Hellenic Gaming Commission said that the future casino would be an essential part of the coastal resort, which will transform the economy and the lives of millions of people in the wider Athens area. When it opens its doors, the resort will be key to the future development of the tourism sector in Greece and is expected to revitalize the slowly recovering economy and reduce unemployment.

It will cover a wide, 600-hectare area and will have hotels and residential buildings, convention facilities, entertainment and concert venue, themed parks, luxury retail and fine dining outlets, as well as a casino. Likely to occupy one of the 45-story Hellenikon skyscrapers, the casino will spread across an area of 15,000 square meters, with the gaming floor planned to cover around 8,000 sq.m. The remaining area of the property is intended for non-gaming facilities.

So far, the only gaming operator to express some interest in the future casino on the Athenian Riviera is the US-based corporation Caesars Entertainment. The Las Vegas casino giant has eyed the Hellenikon casino as part of its expansion plans but still has not disclosed any details regarding its potential participation in the tender.

The post Greece Launches International Tender for €8 Billion Casino Project after Sept. 10 appeared first on Casino News Daily.

Warren Sheaves Takes Down 2018 WSOP Global Casino Championship Title

After defeating Day 2 chip leader Jeremy Meacham in the final heads-up, Warren Sheaves took down the 2018 WSOP Global Casino Championship title on Thursday. With this win, the player from Chapel Hill, North Carolina, won a cash prize of $282,113 and the first WSOP Gold bracelet in his career.

Thursday was the final, third day of the prestigious event that marked the end of the 14th season of the World Series of Poker. This year’s Global Casino Championship was held at Harrah’s Cherokee in North Carolina and attracted a field of 127 entries. With a buy-in of $10,000, the event managed to offer a total prize pool of $1,050,000, which was split among the first twenty places, while the winner took home more than $280,000.

Day 3 of the championship saw only six finalists returning to the felt and Jeremy Sheaves, a little-known North Carolina poker player, had the second shortest stack of all. This did not stop him, however, as he dominated the final table throughout the game. Interestingly, Sheaves was the last player to register for the championship, coming almost in the last minute on Day 1. During the entire event, he displayed his positive attitude and sense of humor, laughing and joking the whole time.

With this title, Sheaves took his first ever WSOP Gold Bracelet and won $282,113, the best cash prize from a live tournament in his career. Although he has been on the US poker scene since 2007, he has not been particularly regular and has participated mostly in lower-stakes games. Until Thursday, his best cash was $28,160 when he finished 38th at the 2017 WSOP $1,500 NLH Millionaire Maker event in Las Vegas. With his latest win in his home state of North Carolina, Sheaves now has more than $666,000 in total live tournament earnings.

Final Table Action

Only six players reached the final table on Thursday, led by Jeremy Meacham who was slightly ahead of the rest with 1,460,000 in chips. The fourth stack, Arkadiy Tsinis was the first to leave the table (6th, $48,926) after Sheaves doubled up through him, and then, was eliminated by Kevin Stammen. Loni Hardwood was the next to go home, receiving $65,067 for the fifth place. Swiss Armin Stocker finished 4th ($88,463) after his Tens could not hold up against Sheaves’ pocket Jacks. Three runners-up remained in play for a few hours but eventually, Kevin Stammen was eliminated by Sheaves and took home a prize of $122,890.

A heated heads-up battle between Sheaves and Meacham followed as the two were almost evenly stacked. Although Meacham was seemingly controlling the situation, he eventually lost a good portion of his stack after an unsuccessful bluff. In the final hand, Meacham’s Queen-Seven lost from the Ace-Three of Sheaves, as the board showed Ace-Eight-Six, with Four on the turn and Jack on the river. The winner took the top cash prize and the WSOP Gold Bracelet, while for his second-place finish, Jeremy Meacham received $174,360.

The post Warren Sheaves Takes Down 2018 WSOP Global Casino Championship Title appeared first on Casino News Daily.

Man Who Cracked Roulette and Won Millions Dies at 86

Medical researcher Richard Jarecki who cracked roulette in the 1970s, winning millions of dollars in European casinos, died on July 25 at the age of 86. Taking advantage of flawed roulette wheels, he became legendary among gamblers and a threat to some of the most popular casino facilities in Monte Carlo, Italy, and Las Vegas.

The news of Jarecki’s passing was reported on Thursday and multiple stories of his successful runs across gaming facilities in the 1960s and 1970s began to resurface. According to the New York Times, the German-born university professor died on July 25 in his home in Manila from pneumonia. Richard Jarecki was born in Germany but he grew up in the United States where his family was forced to emigrate by the Nazi party in the 1930s. He studied at Duke University and then, at the University of Heidelberg in Germany. According to reports from the 1960s, this is where he started winning huge amounts of money on roulette.

During the early 1960s, Dr. Jarecki and his wife visited dozens of casinos across Europe and in the United States. He was well-known in Monte Carlo, as well as in the casinos in Divonne-les-Bains, France, Las Vegas and Baden-Baden, Germany. He was also a regular player at the Italian Riviera casino in San Remo, which generated serious losses during his playing sessions. His success on the roulette table encouraged other gamblers to place the same bets and as a result, casinos generated even larger losses.

It is believed that Jarecki was banned from several casinos and according to his wife’s account, Italian authorities managed to bar him from entering the country for several months. The Morning Herald cites San Remo casino’s managing director Robert Lardera who said that by 1969, Jarecki was considered “a menace to every casino in Europe”. His casino winnings were believed to exceed $1.2 million or more than $8 million in today’s money, which is an exceptional amount of money since roulette is a random game. Winning and losing should be a matter of pure chance.

How Did He Crack the Roulette?

While he was studying in his home country, Richard W. Jarecki realized that there had to be a way to successfully predict where the ball would land on the roulette wheel. According to news reports from the 1960s and 1970s, he explained that he managed to do that and win by developing a statistical model on a computer in the University of London. This was the official version meant for casino owners and employees, however, while the truth was very different.

It turns out that Jarecki was actually carefully observing roulette wheels for slight imperfections and collected large amounts of data on each roulette table before he started playing. After analyzing the entire information gathered by himself and his friends, he successfully exploited these flaws in the construction of the wheels and the tables, eventually turning the edge in his favor. These imperfections included manufacturing defects, scratches, wear and tear, unleveled gaming tables, and more.

While he successfully used this method to win at roulette, he did not invent it. In reality, this strategy was created much earlier, in the 19th century by English engineer Joseph Jagger. Known as “the man who broke the bank in Monte Carlo”, Jagger is the first person known to have used this system. Others have also exploited the mechanical flaws of roulette wheels, however. It was exactly what Richard Jarecki took advantage of – any mechanical flaws and wear and tear that result in a bias toward certain numbers. After observing the ball for a long time, he could predict with a high degree of certainty where the ball would fall next.

The post Man Who Cracked Roulette and Won Millions Dies at 86 appeared first on Casino News Daily.


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