New Jersey Online Gambling Pays Off Bigtime for Lobbyists and Attorneys
It’s good to become a casino industry lobbyist or lawyer New that is representing Jersey gaming, according to the latest reports (Image: thepublici.com)
Everybody else understands that when it concerns gambling, the house always wins. In the case of online gambling in New Jersey, it appears that the lobbyists and lawyers do pretty well for themselves, too.
Support Services Make Bank
According to disclosures posted by the nj-new Jersey Division of Gaming Enforcement, the online gambling industry has resulted in $50.3 million in payments to lawyers, lobbyists, and other professionals since mid-2009. The figures arrived just days before the first revenue figures are scheduled to be released for New Jersey casino internet sites, and are section of an unusual requirement in New Jersey that demands disclosures for several professional re payments.
‘Many states have statutes requiring public disclosure of profits by lobbyists, including New Jersey, but this is actually the time that is first have actually ever heard of a gaming regulatory agency requiring disclosure of payments to lawyers,’ stated Nicholas Casiello Jr., a lawyer with all the Fox Rothschild company’s gaming team in Atlantic City.
This first report covered everything from July 2009 through December 2013, with future reports being made public on a quarterly basis.
The biggest ‘winner’ in terms of legal services was Brownstein Hyatt Farber Schreck, L.L.P., which made $1.89 million in legal charges. That’s in addition to another $2.83 million from activities described as a mixture between lobbying, consulting and legal services, bringing their total haul to $4.72 million.
However, the disclosures also showed exactly how unclear website operators were about what exactly they had to report. Some of the reports featured payments related to lobbying outside of Internet gaming issues, while others included expenses that came from online gambling efforts in other states.
The level of information within the reporting varied greatly as well. The Borgata just reported two groups of payments: someone to a law firm, and something with a group that is lobbying. Having said that, Amaya Gaming Group and Ultimate Gaming included precisely what might possibly be relevant, down up to a payment of $19,380 up to a mathematician to help develop games that are online.
Lobbying businesses did instead well, collecting a complete of $3 million from companies on the market since 2009. The chunk that is biggest of that money went to Public Strategies Impact, which took in $37,500 every quarter from Caesars Entertainment. Some individuals had been reported to have received free indian dreaming slots large repayments, too: TV poker character Mike Sexton took in between $100,000 and $300,000 per year from Bwin.Party so as to be their brand name ambassador.
Not Totally All Were Revealing
Perhaps the more surprising aspect of the disclosures was which and how many companies included in New Jersey’s online gambling industry really complied with the necessity to reveal payments. According to reports, only about 40 percent regarding the organizations which should are needed to file ‘Web Gaming Disclosure Statements’ actually bothered doing therefore. However, that number is just a bit misleading, as every one of the major players in the industry submitted their statements, while secondary businesses included in the industry were spottier in their participation.
‘Each of hawaii’s 11 casinos has filed and all sorts of seven of their state’s licensed Internet platform providers have filed the division’s disclosure kind,’ said Lisa Spengler, representative for the Division of Gaming Enforcement. ‘The unit intends to adhere to up with licensed vendors that have actually not yet submitted a response.’
Unlucky descent that is seven-Year Atlantic City Falls Below $3 Billion
It’s been a seven-year run of bad fortune for Atlantic City’s casinos, revenue-wise. (Image: Moonbeam 13)
It’s amazing exactly what a significant difference seven years will make. Atlantic City which had been going strong and winning $5.2 billion from gamblers in 2006 has seen seven straight several years of declining revenues, culminating in the city’s 12 (now 11) casinos bringing in less than $3 billion in gambling revenues for the very first time in 22 years in 2013.
The figure that is exact was released recently by the newest Jersey Division of Gaming Enforcement came to $2.86 billion, or close to a five percent drop from the $3 billion the casinos brought in during 2012.
There have been many factors that are contributing the years that have kept the losing streak going for Atlantic City’s casinos. But even though the 2008 recession while the damaging aftereffects of Hurricane Sandy in 2012 certainly harmed the gambling resort, the number one reason for the decrease has been increased competition from nearby casinos.
In fact, the downturn coincides exactly with the 12 months if the region started getting decidedly more competitive for casino operators overall. In 2006, the very first casino was built in Pennsylvania, providing gamblers specially casual casino site visitors a location closer to home. There are now 12 Pennsylvania casinos, so that as of 2012, they were bringing in more money in total than their Atlantic City counterparts.
The decline had real-world implications at the beginning of 2014, as the Atlantic Club Casino Hotel shut down mid-January, leaving the city with just 11 operating casinos.
Can Web Gambling Save your day?
Nevertheless, industry insiders say in 2014, as the introduction of online gambling should provide a much-needed boost in revenues during the coming year that they expect this trend to reverse itself.
‘Obviously it’s disappointing to see another where it’s a decline,’ said Tony Rodio, head of the Casino Association of New Jersey and president of the Tropicana Casino and Resort, which snatched up a piece of the Atlantic Club and will be taking most of the casino’s gaming equipment year. ‘But hopefully with the addition of Internet gambling, I think you’re going to see an increase in 2014.’
The 2013 figures that are annual the first-ever to consist of on line gambling revenue in New Jersey, as their state’s online casino marketplace launched in late November. Overall, gambling enterprises took in $8.4 million in winnings during that time. The lion’s share of that revenue was split between the Borgata and Caesars Interactive, which combined to bring in $6.1 million of that total.
The largest champion of all was the Borgata, which won $3.7 million on its PartyPoker-branded online gambling sites.
‘ Our system has attracted the largest pool of players in the latest Jersey online market, allowing us to provide our customers an extensive collection of games and table stakes at all times,’ said Keith Smith, president of Boyd Gaming (a firm that owns half of the Borgata). ‘This gives our community a significant advantage that is competitive positions us for further success.’
According to Smith, there is also proof that the online casinos were bringing in additional revenue, rather than simply moving money from land-based operations to your Web.
‘When matching our online and land-based databases, we unearthed that 60 percent of online casino customers had not been to Borgata in over per year, and over 75 % had made fewer than two trips to Borgata within the past year,’ said Smith. ‘And on a basis that is combined on the web and land-based poker revenue at Borgata was up more than 40 % from our land-based play in December 2012. Clearly, online gaming is complementary to our business that is land-based competitive.’
Still, it’s not yet specific whether online gambling shall be the city’s economic savior. Overall, casinos took in $222 million in December 2013 including their websites on the internet which was still down slightly from the $223.5 million they took in during December 2012.
Poker Site 888 Wants Hakeem Nicks to Add an 8 to their Jersey
NY Giants wide receiver Hakeem Nicks will have an extra ‘8’ on his team jersey, if poker site 888.com gets their way (Image: BSO.com)
Into the arena that is overcrowded of to get the name on the market, sometimes you simply have to think outside the container. That’s the thinking, apparently, of the marketing geniuses at 888.com, an online poker site now licensed in the newly launched nj-new Jersey Internet casino market, when they offered New York Giants wide receiver Hakeem Nicks $88,800 to legally change his name to 888.com.
Anything for Attention
While pretty clearly just a publicity stunt to obtain shmucks like us to write up the tale, it is unlikely that a search for under $89K is going to obtain a pro football player all that excited; heck, these guys spend that much on bottle solution on any given Las vegas, nevada weekend. But it is a catchy news release as well as an amusing concept. More than that, it appears to be at the least in part in response to last week’s first-time-ever marketing alliance between an online poker site partypoker.com and two major pro sports teams: the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils.
Of course, ya gotta have gimmick, as Gypsy Rose Lee once said ( at the very least within the musical about her), which means this is 888’s.
‘We’re excited that 888.com is up and running in nj-new jersey,’ said 888 Holdings CEO Brian Mattingley. ‘with other area notables as we consider 888 to be the premier gaming site in the Garden State, we thought it was appropriate to align ourselves. We’re able ton’t think of a more fitting local athlete than Big Blue’s very own number 88, Hakeem Nicks. We are additionally mindful that Hakeem’s contract is up, so we hope that he views this being a gesture to stay and as an opportunity to benefit a local charity he supports.’
Never ever hurts to put in some grouped community feel-good elixir either, does it.
Nicks Not Biting
Additionally not too surprisingly and vaguely reminiscent of a current cryptocurrency launch that used Kanye West’s name despite the fact that he had no actual participation with the product Nicks has not responded, allow alone said yay or nay. It is been a tough year for Nicks; he caught 56 passes for 896 yards, giving him on average 16 yards per catch, and also had 14 catches for 20-plus yards together with longest going for 57 yards. However, he went the season that is whole reaching the end area.
While no body actually thinks he will simply take 888 up on this offer that is creative least not at this price point if he did choose to just do it, there’s an entire bunch of paperwork to be careful of, as anybody who’s ever gotten married or divorced can attest. Another one to the Social Security office, passport office and any and all banking institutions, Nicks would have to get a papal blessing from the NFL besides the usual trips to the DMV to change his license.
If which were to happen and there was the precedent of Ocho Cinco, who changed their name from the more mundane Chad Johnson back in 2008 Nicks would then trade in his current team jersey for a new one saying ‘888’ which may be a publicity triumph worth a big pile more than $88,800 for the poker site.