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With Gambling Expansion, Things Are Looking Up For PA Racetracks

Slot machines at the state’s 12 operating casinos generated a whopping $239 million in tax money for the local horse racing industry last year, according to a newly released Pennsylvania Gaming Control Board report.

The board released its Annual Racetrack Casino Benchmark Report this week. The report generally details the impact of Pennsylvania casinos on the Commonwealth’s horse racing industry.

The Pennsylvania Race Horse Development Trust Fund

The Pennsylvania Race Horse Development Trust Fund was created to provide financial resources to the horse racing industry. It uses the tax money generated by casinos.

In fact, 10 percent of the revenue generated by slot machine play at all PA casinos is earmarked for the fund. In 2017, that amounted to $239 million. Although that represented a decrease of 2.5 percent compared to 2016.

The $239 million in tax revenue generated for the fund in 2017 was earmarked for things like:

  • Enhancements of race purses
  • Assisting breeding operations located in the state
  • Providing health and pension benefits for horsemen
  • To support local agricultural initiatives

The authorization of slots at racetracks in PA was initially approved by lawmakers in an effort to bolster the struggling horse racing industry. The effort appears to be working. Not only are tax revenues being regularly funneled into avenues supporting the industry, but the industry has now seen growth and improvements as a result.

Live racing handle on the rise

According to the report, total dollars wagered on live races held at the six racetracks operating in Pennsylvania went up three percent in 2017. In fact, it exceeded $700 million.

This represented the first year-over-year increase in live racing handle in Pennsylvania since 2013.

However, authors of the Annual Racetrack Casino Benchmark Report say the uptick can be directly attributed an increase in wagers on Pennsylvania races by patrons outside of the Commonwealth. Total dollars wagered on Pennsylvania races at the six racetracks, nine off-track wagering facilities, and through electronic wagering offered by licensed racetracks, all declined last year.

But even more growth may be on the way.

As a part of the comprehensive state-wide gambling expansion approved by lawmakers in October 2017, casinos in Pennsylvania without racetracks now have the option to offer pari-mutuel wagering on live horse racing.

Plus, a portion of the Pennsylvania Race Horse Development Trust Fund has now been earmarked for marketing horse racing. It is being used under the direction of the State Horse Racing Commission.

More on exactly where Pennsylvania Race Horse Development Trust Fund money goes, revenue generated by horse racing facilities in the state, and improvements being made at these facilities can be found in the full Racetrack Casino Benchmark Report on the Pennsylvania Gaming Control Board website.

Horse racing and casinos in PA

The six horse racing tracks in Pennsylvania with casino operations that feature both slots and table games include:

Parx Casino also happens to be the top-grossing casino and gaming operation in the entire state.

The post With Gambling Expansion, Things Are Looking Up For PA Racetracks appeared first on Play Pennsylvania.

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PokerStars Blocks Play Money Games In Washington State

On Wednesday, the Washington State Gambling Commission tweeted that it has been receiving questions about free online casino and poker sites, such as PokerStars, denying access to state residents.

What prompted PokerStars to stop offering play money poker?

A recent ruling by Ninth Circuit of U.S. Court of Appeals stated that social casino games are illegal under the State of Washington’s existing gambling laws.

It began back in 2015 after a woman lost over $1,000 in virtual chips. She sued Churchill Downs, the then-parent company of Big Fish Casino over the loss.

Under Washington law, gambling is “risking something of value upon the outcome of a contest of chance.”

It all boils down to what constitutes value. Value, according to the law, includes anything that can be exchanged for money or the “the extension of a service, entertainment, or a privilege of playing a game or scheme without charge.”

The appeals court reversed the decision of the lower court ruling that virtual chips are not a thing of value.

Big Fish Casino prohibited the sale of virtual chips for money, but it did require players to use virtual chips to play their games. That means virtual chips have a value because players cannot play without them.

With virtual chips now defined as having value, it stands to reason, play money casino and poker games are in violation of Washington States gambling laws.

PokerStars responds to blocking play money games

USPoker requested comment from PokerStars on the matter this week and received the following statement from a company spokesperson:

“On Thursday, March 29, 2018, the U.S. 9th Circuit Court of Appeals ruled that, under Washington State law, free-to-play games violate state gambling regulations. As a result, The Stars Group is immediately taking actions to block play related to social gaming from Washington State. We are reviewing the rulings and ensuring that our activities are in line with state regulations. We are hopeful the law will be clarified and that when it is, we will be able to reinstate all Washington players at their current status.”

The statement falls in line with the jurisdiction review policy on the PokerStars website.

“Our management team regularly reviews our operations along with independent 3rd party professionals to assess the business risks and opportunities for our brands on a market-by-market basis.”

PokerStars taking precautions

PokerStars blocking access to its play money site in Washington is smart. It tells the U.S. gaming market that it isn’t leaving anything to chance.

Back in 2013, Nevada became the first state to regulate and legalize online poker. The bill included bad actor language in its legislation.

A bad actor is any company that allowed U.S. citizens to play poker on its site after the passage of the Unlawful Internet Gambling Enforcement Act in 2006.

Labeled a bad actor, PokerStars was not allowed to enter the market in Nevada when it launched.

It was 2011 when the Department of Justice shut down U.S. online gaming sites. Since that time, PokerStars has been diligent in its dealing in the U.S. gaming market.

Currently, Pennsylvania is preparing for online gaming, and PokerStars intends to be “among the first operators to launch.”

PokerStars operates in New Jersey under the Resorts AC gaming license. Mohegan Sun manages Resorts and owns Mohegan Sun at Pocono Downs in Pennsylvania.

A partnership between any Pennsylvania casino and PokerStars is only speculation at this time. And it’s likely New Jersey and Pennsylvania is just the beginning for PokerStars.

It is reasonable to think PokerStars has an eye on expanding in the U.S. beyond New Jersey and Pennsylvania. Especially as the debate around online gaming legislation continues in several states.

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Daniel Negreanu Has High Expectations For 2018 World Series of Poker

Daniel Negreanu’s campaign for more World Series of Poker bracelets starts in a few weeks in Las Vegas, Nevada. The six-time bracelet winner has come close in recent years to adding more jewelry to his collection. Negreanu sets high expectations for himself on an annual basis and 2018 is no different. This week on his Full Contact Poker blog, Negreanu outlined his prospective schedule and his overall goals for a season of buy-ins worth close to $1.5 million.

Volume, volume, volume

Of the 78 events listed on the WSOP schedule, Negreanu is set up to play a maximum of 39. His calendar starts on June 1 with the $100,000 No Limit Hold’em High Roller and wraps up with the $1 million Big One For One Drop.

Negreanu’s summer plans start even before the World Series opens. The $300,000 Super High Roller Bowl opens on May 27 and Negreanu is among the 30 lottery selections for the event. The $25,000 and $100,000 High Rollers at ARIA and Bellagio that parallel Super High Roller Bowl are also on his list.

Over the course of the six-week Rio grind, Negreanu only has four scheduled days off for himself with two aligned back-to-back before the start of the $10,000 Main Event.

Mixed Games galore

Negreanu’s chase for more bracelets is more intensive on mixed game events over no-limit hold’em. In recent years, Negreanu swore off playing the novelty four-figure Hold’em events like Millionaire Maker and Monster Stack citing that he didn’t enjoy them.

There are 11 no-limit events on Negreanu’s schedule and the lowest buy-in among them is the $1,500 No Limit Shootout event. For standard no-limit hold’em, the smallest entry is $3,000.

Every mixed game in the book is on Negreanu’s list with a wide range of $10,000 Championship events listed. Last summer, Negreanu lost heads up for bracelet number seven to Abe Mosseri in the $10,000 Omaha Hi-Lo event.

The tournament is one of the first for Negreanu this summer. It is joined in the $10,000 category by the Dealers Choice tournament, HORSE, Seven Card Stud, and Pot Limit Omaha. In total, Negreanu plans to participate in 13 $10,000 buy-ins.

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Time to close

The hunt for a seventh bracelet has been treacherous for Negreanu. His drought dates back to October 2013 when he won the WSOP Europe €25,600 High Roller in Cannes, France. In the time between then and the end of 2017, Negreanu collected three silver medals across nine final tables.

Last year alone, Negreanu made the final table of four events, including the sought-after $50,000 Poker Players Championship. Negreanu’s 11 cashes resulted in an 11th place finish under the controversial WSOP Player of the Year points system.

On United States soil, Negreanu is in a drought that rivals the Las Vegas desert. Negreanu has not won a bracelet in the U.S. since 2008 when he won the $2,000 Limit Hold’em event. That tournament no longer exists. Negreanu won bracelet number five in Australia in April 2013 when he won the World Series of Poker Asia Pacific A$10,000 Main Event.

Negreanu habit of losing to tough competition dogs him with Paul Volpe, Dan Colman, and Eli Elezra among the players who have beat topped ‘Kid Poker’.

Following up on his goals

Negreanu’s blog at the start of 2018 featured his list of goals for the year. At top of the list is for him to win a bracelet this year. The goal in 2017 was to win three and Negreanu stated that winning a bracelet is “not as easy as it looks.”

The best chance at a bracelet for Negreanu might be in the Big One for One Drop. A field of at most 50 players is expected and Negreanu took second the last time around in 2014. Negreanu would knock a goal off his list by final tabling One Drop or Super High Roller Bowl.

Hitting 115 cashes is also on there and would require Negreanu to finish in the money 10 times.

Gone are the days of massive bracelet bets but Negreanu is still plenty motivated to add to his World Series of Poker legacy.

Photo credit: Joe Giron/PokerStars

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