Author: admin

Churchill Downs Incorporated (CDI) is just about officially a part of the Pennsylvania casino market.

In a Monday press release, the Louisville-based racing, gaming, and online entertainment company announced that it will “assume management” of Lady Luck Casino Nemacolin in Farmington while closing the purchase of Presque Isle Downs & Casino in Erie.

Looking at the Presque Isle deal

Monday’s announcement brings a close to CDI’s roller-coaster talks with Eldorado Resorts.

Earlier this year, CDI reached an agreement to purchase both Presque Isle Downs and Lady Luck Vicksburg in Mississippi. The rationale was that CDI was looking to position itself to enter the sports betting industry.

The Vicksburg acquisition bottomed out, however, as the casino fell into anti-trust concerns from the FTC. Not all was lost though, as Eldorado Resorts proposed a revised offer that included managerial rights to another Lady Luck.

“We are delighted to work with the team at Churchill Downs to move forward with our planned divestiture of Presque Isle Downs and believe the transfer of the management of Lady Luck Nemacolin to Churchill will allow Eldorado Resorts to realize meaningful tax benefits,” Eldorado CEO Gary Carano said in a July press release announcing the proposed deal.

The Presque Isle deal, according to the release, was reliant upon the operational acquisition of Lady Luck Nemacolin as well as the termination of the applicable waiting period. The Federal Trade Commission granted an early termination Aug. 3. The Presque Isle transaction also needed approval from Pennsylvania regulators.

CDI takes over Lady Luck Nemacolin. Additionally, it acquires “certain assets”  from Eldorado Resorts for cash consideration of $100,000.

CDI expands portfolio

According to Monday’s announcement, the Presque Isle and Lady Luck Nemacolin transactions are expected to close in the fourth quarter of 2018.

The two deals are subject to “receipt of gaming licenses from the Pennsylvania Gaming Control Board. Additionally, Churchill Downs needs a racing license from the Pennsylvania State Horse Racing Commission.”

Once closed, CDI will obtain casino interests in seven eastern states. Eldorado will still own Lady Luck Nemacolin but will lease out operations to CDI.

When CDI was in talks to acquire Presque Isle and Lady Luck Vicksburg, company CEO Bill Carstanjen conceded that online gambling was a leading factor. While the Vicksburg side of the deal fell through, Carstanjen’s reasons still certainly rings true.

From a February press release:

“Presque Isle will give us a foothold in Pennsylvania which has recently passed legislation authorizing real money online gaming.”

Presque Isle gains CDI entry into the Keystone State, and Lady Luck Nemacolin gives the company an even stronger presence — especially when you consider CDI’s future betting plans.

CDI nearing sports betting?

Shortly after the Supreme Court decision that changed the sports betting landscape, CDI took steps to enter the regulated wagering industry.

In mid-May, CDI finalized a partnership with SBTech to create an iGaming platform “consisting of the consumer website, mobile apps, and back-office systems to manage iGaming and sports wagering.”

In a statement at the time, SBTech CEO Richard Carter said that the company was:

“thrilled to have Churchill Downs as our first U.S. partner. The combination of Churchill’s leading presence in the U.S. market, coupled with SBTech’s deep expertise in regulated sports betting markets globally, makes for an ideal partnership as we enter this monumental chapter in the U.S. gaming industry.”

Around the same time, CDI confirmed plans to offer online gaming in New Jersey via the Golden Nugget casino license.

These deals put CDI on the fast track to potentially offer online gambling and, eventually, sports betting in Pennsylvania.

Certainly CDI’s newest acquisitions — Presque Isle and Lady Luck Nemacolin — are vital for the company to enter the sports betting market. That said, CDI will still need to pony up $10 million for a sports betting license and then pay 36 percent in taxed revenue.

The post Churchill Downs Finalizes Deal That Gives Them Control Of Two PA Casinos appeared first on Play Pennsylvania.

Atlantic City has a storied poker past.

There’s little doubt there were underground games in America’s Playground when political boss Nucky Johnson ran the city in the 1920s.

Legalized casino gambling came to Atlantic City in 1976, but that didn’t bring the poker games out of the back rooms.

In fact, the state didn’t allow poker games at Atlantic City casinos until the summer of 1993.

The debate rages on to this day as to which casino dealt the first poker hand in AC. It was either the Atlantic City Sands or the Showboat Casino, both of which have since ceased operations.

The backstory of poker rooms in AC

Regardless, poker in Atlantic City immediately became all about Trump Taj Mahal, which opened 50-table room around that time and lead the market by a long shot.

No one could touch the Taj. In fact, it was the biggest and best room in town until 1998, when another contender for the AC poker room crown emerged.

A 40-table poker room opened at the Tropicana and the two properties spent the next few years embroiled in a rivalry for the top spot in the city. Like Coke and Pepsi, you were either Trop or Taj.

That is, until 2003, when the Borgata Hotel Casino & Spa opened up with a 34-table poker room and became the center of the entire East Coast’s poker universe. Borgata soon underwent an expansion of up to 85 tables and cornered the market.

The Taj shut down and has since re-emerged as Hard Rock Hotel & Casino Atlantic City but without a poker room. The Trop shut down its room and built a new one. At 18 tables, its nowhere near the size of what it once was and isn’t even really trying to compete with Borgata.

When it comes to the best poker rooms in Atlantic City these days, all discussions begin and end with Borgata Casino. However, there’s still plenty of poker elsewhere, and at least two rooms are trying to give Borgata a run for its money.

Here’s a look at the top three poker rooms in Atlantic City, starting with the king of the hill:

Borgata

The 85-table poker room at the Borgata in Atlantic City’s Marina District is the premier poker destination on the East Coast.

It is more than double the size of any AC competitor and offers the largest variety of cash games, tournaments, and poker promotions around.

It was once the home of the World Poker Tour season-ending championship event. To this day, it hosts massive seasonal tournament series and an annual WPT stop that continues to break entry records.

The Borgata offers the full Las Vegas casino and poker room experience in Atlantic City. It’s always packed and the action is legendary.

It spreads all kinds of games at stakes as high as a player wants. Borgata also runs its own online poker room (Borgata Poker) using GVC Holdings software.

Bally’s Atlantic City

Bally’s Atlantic City is hone to a 42-table World Series of Poker-branded poker room that delivers on its promise to bring the WSOP experience east.

It spreads Hold’em and Omaha cash games, daily tournaments, and has played host to the WSOP Circuit National Championship and other WSOP Circuit events in the past.

The WSOP poker room also hosts its own annual Bally’s Poker Classic tournament series.

While it doesn’t come close to the size of Borgata, Bally’s does have the second biggest room in the city. The use of WSOP branding certainly helps keep the room busy. Its Boardwalk location doesn’t hurt either.

In the end, however, Bally’s is really more about low-limit games and tourists than poker purists who really have very little reason to ever leave Borgata.

Parent company Caesars Entertainment also runs a WSOP-branded online poker room in New Jersey (WSOP NJ).

Golden Nugget Atlantic City

The Golden Nugget Atlantic City runs the poker room for the little guy, and it does a great job of it.

It appears to be going after a completely different customer than Marina District neighbor Borgata and finds success doing so.

There are just 10 tables, so right away it has a more intimate feel. Plus, it runs a variety of great promotions designed to make the players feel special.

It’s all relatively low limit Omaha and Hold’em cash games and tournaments. However, with one of the best comping and rake back systems in the business, there’s a lot of added value in playing there.

Players can earn double and triple comps most weekdays, and a free buffet for just a few hours of play. Plus, the poker room recently moved into its new home on the fourth floor. (In its old place will reportedly be a sportsbook.)

You won’t become the next WPT or WSOP champ playing at Golden Nugget, but you’ll sure enjoy the experience.

The post If You’re Looking For The Best Poker Rooms In Atlantic City, Look No Further appeared first on NJ Online Casino.

PokerStars is planning to launch a comprehensive online gambling suite in Pennsylvania with partner Mount Airy Casino Resort. A group of websites will offer online poker, online casino games, and online sports betting.

The world’s largest online poker site’s parent company, The Stars Group, made the announcement via press release on Aug. 10.

Matt Primeaux, SVP Strategy & Operations, USA at The Stars Group, called the move a broadening of PokerStars’ presence in the US:

“We’re excited to take this next step as The Stars Group looks to broaden its presence in the United States. In partnership with Mount Airy Casino Resort, we believe we’re well positioned to capitalize on opportunities in the Commonwealth by bringing our world leading offerings to Pennsylvania players.”

An all-inclusive, engaging online gambling experience

According to the release, The Stars Group is promising to give its new PA customers an all-inclusive, engaging online gambling experience by offering connected online poker, casino and sports wagering products.

In fact, it plans to allow PA customers seamless access to all its online gambling verticals using one account.

Mount Airy Casino Resort is one of nine PA casino license holders that applied for a $10 million online gambling license to operate online slots, table games, and poker last month. Apparently, it also intends to apply for a $10 million sports betting license with the Pennsylvania Gaming Control Board.

The board has yet to reveal if any of the state’s 13 existing casino license holders have applied for a sports betting license. In the meantime, executives at a number of PA casinos have indicated the $10 million licensing fee and 36 percent tax rate on sports betting revenue make it near impossible to turn a profit.

Through online gambling software partner GAN, Parx Casino has also expressed an interest in launching a comprehensive online gambling suite that would include online poker, casino games, and sports betting.

PokerStars in PA

It seems like GAN, Parx, Mount Airy Casino Resort and PokerStars do not share the concerns of the other PA casino license holders.

In fact, Mount Airy Casino Resort VP of Marketing & Gaming Operations Vincent Jordan said Mount Airy is ready to do it all online:

“As one of Pennsylvania’s leaders in entertainment, offering internet sports wagering and gaming and partnering with The Stars Group is the obvious next step for us to continue diversifying our casino offerings. Introducing internet gaming through The Stars Group will provide compelling opportunities for our customers, particularly our younger customers, who are ready to experience the next gaming challenge.”

When the site eventually goes live, Pennsylvania will become the second US state with a legal and regulated PokerStars site. PokerStars already runs an online poker site with a variety of casino games in New Jersey. It does so under partner Resorts Casino Hotel‘s internet gaming license.

The company also recently announced plans to offer online and mobile sports betting in NJ under the BetStars brand.

PokerStars’ PA plan is still subject to regulatory approval. No launch timetable currently exists.

Mount Airy Casino Resort

Despite is big plans for online gambling, Mount Airy Casino Resort is far from PA’s largest casino. The Pocono Mountains full-service resort features just 1,800 slot machines and 80 table games. The Poker Parlor at Mount Airy Casino Resort offers live poker on nine tables. It is open seven days a week and 24 hours a day.

In 2017, Mount Airy Casino Resort posted just over $50 million in table games revenue. It also posted $147 million in slot machine revenue. Numbers that make it sixth and ninth among the 12 existing PA casinos respectively.

The Mount Pocono casino resort is on the site where the famous Mount Airy Lodge vacation resort once stood. It is approximately 90 minutes from both Philadelphia and New York City.

The DeNaples family

Mount Airy is owned and operated by the DeNaples family.

The casino resort was built by Scranton, PA businessman Louis DeNaples. It first opened in October 2007. However, DeNaples turned over ownership of the property to a family trust in 2009.  The turn over was part of an agreement to avoid criminal perjury charges. It is alleged DeNaples lied to the Gaming Control Board about ties to the infamous Bufalino crime family.

Mount Airy has had a partnership in place with leading online poker and gambling software company 888 Holdings since 2014. The partnership includes 888 providing software for the Play Mount Airy social casino site. Plus, there are links to the 888 Casino New Jersey online casino site on Mount Airy’s website.

Mount Airy could launch an 888 online casino or online poker skin, but has yet to announce such plans.

It will not offer an 888 sports betting product. PA allows multiple online gambling skins. However, it only permits one sports betting skin.

The post PokerStars To Launch Online Poker In PA With Partner Mount Airy Casino appeared first on .