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Sunday, November 25, 2018

November 25, 2018

Mazen Abdallah Leads 333 Players into WPT Seminole Rock ‘N’ Roll Poker Open Day 2

Casino News Daily
Mazen Abdallah Leads 333 Players into WPT Seminole Rock ‘N’ Roll Poker Open Day 2

Mazen Abdallah snatched the chip lead late into Day 1B to lead 333 hopefuls into WPT Seminole Rock ‘N’ Roll Poker Open’s next stage

Poker action is heating up at Seminole Hard Rock Hotel & Casino Hollywood where the latest edition of the WPT Seminole Rock ‘N’ Roll Poker Open is currently taking place. The two starting flights of the $3,500 event are now complete and figures show that 333 survived through Days 1A and 1B to advance into the second day of action at the host casino.

This year’s WPT Seminole Rock ‘N’ Roll Poker Open drew a record-breaking field of 898 entries, of whom 417 registered through Day 1A and the other 481 came into the event through Day 1B.

Mazen Abdallah, a player from Houston, Texas, will lead the remaining survivors into today’s Day 2. The player accumulated a stack of 469,500 on Day 1B to come atop the temporary leaderboard. Abdallah was also the only player to pass the 400,000 mark. He secured his chip lead late into the day. The player eliminated two fellow contenders on two consecutive hands to multiply his stack and emerge as the chip leader.

If Abdallah makes it to the paid positions, he will secure his largest ever cash from a live tournament. Speaking of money, the event’s field smashed the $2 million guarantee to generate a prize pool of $2,873,600. The money will be split into payouts for the top 113 finishers, min-cashes sitting at $5,845. The bubble is on pace to burst at some point today.

The six final tablists will each secure a min-cash of $103,310. And awaiting the champion is a top prize of $504,820 as well as a seat into the season-ending WPT Tournament of Champions.

Notables Still in the Race for the Title

No other player passed the 400,000 mark on Day 1B and no other player even passed the 300,000 mark. However, there were a number of notables who made it through the day, including Caufman Talley, Vinny Pahuja, Jeff Trudeau, and Nick Yunis. All four bagged more than 250,000 worth in chips at the end of the second starting flights.

They will be joined by the likes of Day 1A chip leader Ajay Gnanasambanthan, and former WPT champions Anthony Zinno, Phil Laak, Jonathan Jaffe, and Sam Panzica, who all locked a seat into Day 2 through the tournament’s first starting flight.

Day 2 of the tournament is scheduled to take place today starting at noon local time. The remaining players will play ten 60-minute levels, during which the money bubble is expected to burst. The Action Clock will be introduced one table from the bubble to add extra thrill to those battling for the WPT Seminole Rock ‘N’ Roll Poker Open title at the host casino.

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The post Mazen Abdallah Leads 333 Players into WPT Seminole Rock ‘N’ Roll Poker Open Day 2 appeared first on Casino News Daily.

November 25, 2018

Teddy Sagi Offloads Entire Stake in Playtech

Casino News Daily
Teddy Sagi Offloads Entire Stake in Playtech

The Israeli billionaire has sold his entire stake in the gambling company as US activist investor has been urging Playtech to sever ties with its founder

Israeli businessman Teddy Sagi has sold out of his holding in online gaming provider Playtech, a company he founded himself nearly two decades ago.

Through a placement by Brickington Trading, Mr. Sagi has sold around 15.2 million ordinary shares, equivalent to 4.8% of the company. Brickington Trading is a wholly owned subsidiary of Globe Invest, a trust of which the Israeli billionaire is the sole beneficiary. With the latest sale of Playtech stock, Mr. Sagi has offloaded his entire holding in the online gambling company and has put an end to his involvement in it. He was quoted saying that he wishes Playtech “every success in the future”

Earlier this month, the businessman sold nearly 5 million shares, equivalent to 1.6% of the London-listed company’s issued capital.

Mr. Sagi founded Playtech in 1999. The company specializes in the provision of solutions for the online gambling industry. Playtech floated on the London Stock Exchange in 2006. Since its flotation, it has grown tremendously through acquisitions. The company currently employs more than 5,000 people and has offices in 17 countries. With estimated market cap of around £1.4 billion, Playtech is member of the FTSE 250.

The company has had a bit of a hard time lately as its shares have halved in price over the past year on the back of two profit warnings.

At a price of 450 pence per share, Mr. Sagi has collected the approximate amount of £68 million from the sale of his final 4.8% stake in the company. Prior to Playtech’s flotation, the businessman owned more than a half of the company. However, he has sold down his controlling stake in the company bit by bit over the past several years, saying that he wants to diversify his business portfolio and pursue new endeavors, primarily in the real estate and technology sectors.

Mr. Sagi has recycled the proceeds from the sale of Playtech shares to buy London’s Camden Market and Dutch developer of shared office spaces for startups and entrepreneurs Brack Capital, among others.

Investor Pressure

News about Mr. Sagi cutting ties with Playtech emerge shortly after The Times reported that American activist investor Jason Ader of SpringOwl Asset Management has penned a letter to the directors of the gambling technology giant to express his concerns about the Israeli businessman’s involvement.

According to Mr. Ader, Mr. Sagi’s colorful past, has had a negative impact on Playtech’s value and the company’s ambitions to expand to the United States. The activist investor has referred to the fact that Mr. Sagi was sentenced to prison in his homeland back in his early twenties on insider trading charges.

It emerged earlier this year that Mr. Ader has quietly built a 5% stake in Playtech. The investor is known for playing a key role in GVC Holdings’ acquisition of fellow online gambling operator bwin.party in 2016.

It is believed that Mr. Ader is now pressing for Playtech to dispose of its financial businesses and focus on its gaming operations. In previous comments on his involvement in the gaming tech company, the US investor has said that Mr. Sagi still being part of the company was “a negative” for it and that he did not have “a sense that the future of the company includes Teddy Sagi.”

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The post Teddy Sagi Offloads Entire Stake in Playtech appeared first on Casino News Daily.

Saturday, November 24, 2018

November 24, 2018

Sports Betting Arrives in Rhode Island in Historic Year for US Gambling Industry

Casino News Daily
Sports Betting Arrives in Rhode Island in Historic Year for US Gambling Industry

Rhode Island becomes eighth state to offer legal sports wagering in an eventful week for the US betting industry

Sports betting is coming to Rhode Island starting Monday, November 26, at Twin River Casino in Lincoln. The state will thus become the nation’s eighth one to be offering legal sports gambling and New England’s first one in a landmark year for the US gambling industry.

The Rhode Island General Assembly enacted a sports betting law back in June, and legal wagering services were expected to commence by October. However, delays of different nature pushed back the start of sports betting to the end of November.

The announcement about the official start of sports betting in Rhode Island arrived as the latest big news in an eventful week for US sports betting. Pennsylvania’s first wagering facility opened doors a few days ago. A new sportsbook was launched in West Virginia, as well. The state’s first legal betting operations commenced in late August.

Twin River Casino officials have previously said that the property will begin offering sports betting to its customers around Thanksgiving. As it can be seen they have almost lived up to that promise.

Sports betting operations will commence at the casino at 3 pm local time on Monday, when House Speaker Nicholas Mattiello, Senate President Dominick Ruggerio, and Twin River Worldwide Holdings Chairman John Taylor Jr. will place a ceremonial first bet.

Wagering services will initially be provided at a temporary facility on the third floor of the casino complex. Officials have called that temporary facility Phase 1. Customers will be serviced there while the main sportsbook is under development.

At first, gambling customers will be able to place wagers on US-based games. International competitions such as English Premier League and other European leagues are expected to be added later. Patti Doyle, a spokeswoman for Twin River Casino, has also said that “more exotic” bets will also be available in the betting lounge at a later date.

Under Rhode Island’s newly adopted sports betting law, gamblers will only be able to wager at physical sportsbooks. Online and mobile betting were not included in the state’s sports gambling framework.

Estimated Economic Impact

According to estimates, the state will collect $11.5 million in tax revenue from sports betting through the end of the fiscal year on June 30. The above-mentioned amount is significantly less than the original projection for tax revenue of $23.5 million that was based on the previously announced October 1 launch of Twin River Casino’s sports betting operation. The state expects to get $27.3 million in tax revenue next fiscal year.

Under Rhode Island gambling laws, legal sports betting operations are taxed at 51% on betting revenue.

According to projections, Rhode Island’s two Twin River casinos will annually handle $814 million in wagers. Twin River Casino in Tiverton is expected to launch its sportsbook sometime in December. The Tiverton casino complex opened doors to the public on September 1. Aside from an 85,000-square-foot gaming floor, it also features an 84-room, three-story hotel, and multiple entertainment options.

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The post Sports Betting Arrives in Rhode Island in Historic Year for US Gambling Industry appeared first on Casino News Daily.

November 24, 2018

MGM, Wynn tamp down Boston casino intrigue

Las Vegas Sun Stories: Gaming
MGM, Wynn tamp down Boston casino intrigue
Executives for MGM and Wynn are tamping down speculation the companies are quietly in talks over Wynn's Boston-area casino. MGM Resorts International CEO Jim Murren said today it would have to be an "extremely unique situation" for officials to ...

Friday, November 23, 2018

November 23, 2018

Throwback: Phil Ivey vs Tom Dwan on Million-Dollar Pot

BankrollMob News - Poker / Casino / Betting
Throwback: Phil Ivey vs Tom Dwan on Million-Dollar Pot
David Tuchman, who specializes in sports commentating for football and poker, recalls the awesome moments he witnessed as he commentated on a remarkable hand between Phil Ivey and Tom Dwan. It was in the Full Tilt Poker Million Dollar Cash Game around nine years ago that there were only three men, namely Phil Ivey, Tom Dwan and Patrik Antonius battling it out at a poker table as midnight drew near. David Tuchman, renowned poker commentator, fondly described his personal experience about the [...]
November 23, 2018

Kevin Gerhart Wins Debut WSOP Circuit Gold Ring at Planet Hollywood

Casino News Daily
Kevin Gerhart Wins Debut WSOP Circuit Gold Ring at Planet Hollywood

A Pot-Limit Omaha expert takes down the only PLO event on the schedule of the WSOP Circuit Planet Hollywood stop

Pot-Limit Omaha specialist Kevin Gerhart has won earlier this week his first WSOP Circuit gold ring by taking down namely a PLO tournament at Planet Hollywood. The player, who hails from Ohio but now resides in Las Vegas, emerged victorious in the $400 Pot-Limit Omaha Re-Entry for a cash prize of $10,493 and the gold piece.

The two-day tournament saw 106 entries register to create a prize pool of $34,980. The final 12 players received a share of that prize pool.

Gerhart was one of the four players who bagged chips at the end of Day 1 of the event to progress into its second day. The eventual winner had the third largest stack at the time Day 2 action kicked off. However, he told WSOP Circuit staff after his victory that he had had a feeling that it would be him and the start-of-the-day chip leader, Mesha Zakharov, who would play the heads-up. The two players indeed ran into each other at the tournament’s finale to determine who would take home the gold ring and the first-place prize. Zakharov was too going for his first gold ring from the series, but it was not meant for him this time and he had to settle for a second-place finish.

Pot-Limit Omaha Specialist

Pot-Limit Omaha is Gerhart’s favorite poker game and he has been playing it a lot over the past several years. The player told WSOP staff that he has been trying to play as many PLO tournaments as possible. He won a PLO tournament and finished runner-up in another one in the months prior to his victory at Planet Hollywood.

The player attributes his success in that particular game to his good feel for PLO as well as to the fact that most of his opponents are less experienced. Gerhart went on to say that it is much harder to find information on PLO than it is on No-Limit Hold’em.

Of his plans for the rest of the Planet Hollywood series, the brand new WSOP Circuit champion said that he had originally intended to play the Main Event over the weekend, but after his triumph, he decided to try to snatch a bit more points for the Casino Championship race by playing a few more tournaments. The player who accumulates the most points by the end of the stop will secure a seat into the season-ending $1 million guaranteed Global Casino Championship.

However, Gerhart will have to play No-Limit Hold’em tournaments until the end of the Planet Hollwood series, as its schedule does not include any other Pot-Limit Omaha events. It is to be seen how the player will cope and whether he is just as good in No-Limit Hold’em as he is in the poker game he loves so much.

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The post Kevin Gerhart Wins Debut WSOP Circuit Gold Ring at Planet Hollywood appeared first on Casino News Daily.