Nevada Gaming Control Board Chairman AG Burnett is considering amendments towards the board’s regulations that could authorize wagering that is prepaid at Nevada casinos.

The Nevada Gaming Control Board (GCB) is calling regarding the state’s land-based casinos to adapt e-commerce measures to make gaming more user-friendly.

On August 11, the GCB held a workshop that is public Carson City to receive input on possibly changing exactly how slots and dining table games accept bets in the united kingdom’s gambling capital.

At issue is the GCB’s own regulations and whether amendments should be implemented to allow casino patrons to gamble using accounts that are prepaid.

The board is considering allowing casinos to implement systems at their tables and machines that provide customers with the option to gamble with funds linked to loyalty cards in accordance with Nevada Senate Bill 9 passed in 2015 that pressured the GCB to adapt such regulations.

Regulation 5 and Regulation 5A are the two tips in question. The former previously barred players from gambling on prepaid accounts, while the later authorized credited makes up hawaii’s interactive gaming networks.

The proposed Regulation 5 includes ‘wagering account’ information and principles that are regulatory how the cards would operate. The GCB dictates that the customer wishing to fund a loyalty card account would need to first personally register in the casino with photo identification.

‘It would offer patrons what they expect having the ability to fund video gaming from sources these are typically increasingly much more comfortable with,’ GCB Chairman AG Burnett told the Las Vegas Review-Journal.

Practice Made Perfect

Opponents to electronically linked gambling records believe the practice shall induce higher incidences of problem gambling. But the wagering system being considered is far different from simply permitting players to gamble using their debit and credit cards.

In fact, account wagering is already being practiced in Nevada.

In addition to interactive online and gaming that is mobile, Nevada sportsbooks presently allow bettors to create prepaid gambling cards.

The state legislature thinks the amendments will appeal to the technological millennial demographic and bring the Silver State’s gambling enterprises into modern times.

‘ The continued growth and success of the gaming industry in the State of Nevada depends on the fostering of a company and regulatory environment that promotes continued advances in the usage of technology in gaming, which improves the entertainment experience, encourages innovation and supports expansion associated with the domestic technology sector,’ Senate Bill 9 states.

Though it appears likely the GCB will soon adapt the prepaid gambling amendments, Burnett said more time will become necessary before formally executing the modification.

Vital Endorsement

The Nevada Council on Problem Gambling lent its help of prepaid video gaming accounts, though with a conditions that are few.

Executive Director Carol O’Hare said appropriate signage purporting the risks of problem video gaming should be prominently displayed in areas where gamblers would refund their electronic accounts. Casinos have actually long been forced to do just that near cages and ATMs, but O’Hare desires the GCB to simply take measures that are additional.

‘It would seem that in 2016 as you adopt laws, procedures and rules for wagering accounts . . . some effort that is reasonable be produced to align this new responsible gaming options become consistent with the current stands.’

O’Hare said she looks forward to working with the GCB on the updated regulations and drafting language to mandate such problem gambling stipulations.

Six-Year Prison Sentence for Ex-CEO Kennon Whaley in Alabama, Gambled Away $100K in Insurance Funds

Former Alabama metal magnate Kennon Whaley is headed to jail. This week, the Auburn resident was sentenced to 72 months in federal prison, after he had been convicted in May for making use of an insurance payment to pay down over $100,000 in gambling debts.

Previous Alabama metal company CEO Kennon Whaley will now see a lot of steel of the different kind, after being sentenced to six years behind bars for insurance fraud. Whaley used bankruptcy settlements to pay straight down gambling debts. (Image: insurancequotesfast.com)

Whaley was when the CEO of Southeastern Stud & Components, a manufacturer that is montgomery-based of measure steel framing items. Founded in 1999, the company generated $34 million in revenues in 2005 and employed 125 full-time workers.

But following a collapse that is economic 2007, Whaley filed for Chapter 11 bankruptcy protection in 2009. He received $260,000 in insurance claims, but instead of using it to aid in their business’ transition, Whaley went on a gambling binge.

The now 51-year-old visited the Wynn casino in Las Vegas, where he racked up a debt of $100,000. After utilising the insurance cash to repay Wynn, Whaley returned to Vegas again, where he incurred another $20,000 loss.

Chapter 11 provides companies protection from creditors, but the bankrupt business must reveal all financial transactions. Needless to say, Whaley failed to abide by that condition.

‘ At that time, Southeastern Stud had been nevertheless in bankruptcy and approximately 70 percent of its employees had lost their jobs,’ the United States Attorney’s workplace for the center District of Alabama said in a launch.

Paper Trail Proves Guilt

Whaley’s lawyer stated during his test which he was an ‘absentee owner’ that wasn’t mindful associated with business’s downturn. But if the going got tough, Whaley got going with risky maneuvers.

According to court records, Whaley instructed a worker to falsify documents in a try to conceal where in fact the insurance payments disappeared to.

‘That’s the textbook concept of bankruptcy fraud,’ Assistant US Attorney Brandon Essig said.

The Strip resort cooperated with authorities to detail Whaley’s criminal activity while the Wynn likely wined and dined Whaley on his two high-roller visits. Records from the casino presented his jaunt that is four-day to City and show a man living the VIP lifestyle while his company was riddled in debt.

The usa Great Recession that lasted from 2007 through 2009 presented a difficult economy for businesses in the united states. The odds were stacked against many small and medium-sized businesses, but Whaley went to Vegas and found also worse odds for his money.

Ironically, Whaley writes on his LinkedIn profile summary, ‘HARD WORK WINS.

In Good Bad Company

Whaley isn’t the very first individual to strike the casino flooring with illicit funds of late, needless to say.

A ago, former Oklahoma State Senator Rick Brinkley (R-District 34) was convicted of swindling $1.8 million from the Eastern Oklahoma Better Business Bureau to support his gambling habit year.

And month that is just last financial scam musician Andrew Caspersen pled guilty to using a Ponzi scheme to swindle $38 million from investors to fund his gambling addiction.

Atlantic City Casino Revenue Soars in Borgata Enjoys Record Month july

Atlantic City casino revenue jumped 6.9 percent in July compared to the same thirty days in 2015. The city’s eight gambling enterprises still in operation taken in $275.2 million, $17.7 million over a year earlier.

Atlantic City casino profits had been up at most properties during but Carl Icahn’s Trump Taj Mahal was an exception july. The long-troubled casino will shut down permanently in less than 30 days after having a long fight with unions. (Image: Heidi Gutman/Getty Images)

The headliner of the income report may be the Borgata Hotel Casino, which recently became myfreepokies.com wholly owned by MGM Resorts.

Atlantic City’s most profitable resort had its best month in its 13-year history. With gross revenues totaling $84.8 million in July, Borgata eclipsed its past monthly record and took complete advantageous asset of the an additional week-end and Independence Day holiday.

‘we are very pleased with a record-breaking month,’ Borgata Senior Vice President Joe Lupo told the Associated Press while we expected a good month with five full weekends.

Taj Mahal Trumped

Along with Borgata, four of this other seven land-based casinos posted percentage gains in July. One which didn’t had not been interestingly the Trump Taj Mahal.

The Unite-HERE Local 54 union strike commenced on July 1 over medical insurance and pension benefits at the formerly Trump-owned property. More recently purchased by the GOP candidate’s billionaire friend Carl Icahn, the casino tallied incomes of just $17.5 million, eight percent significantly less than in 2015.

Icahn says he can end the casino’s 26-year run after the Labor Day week-end. Video Gaming officials say the month was positive, regardless of this statement that yet another Atlantic City casino is closing.

‘July was a month that is solid also though several properties faced challenges including a strike by union employees,’ brand New Jersey Casino Control Commission Chairman Matt Levinson said.

Bally’s (4.8 percent) and Harrah’s (5.2 %) were the other two casino properties that posted losses in July.

Table games were the best performers percentage-wise, with an almost $7.5 million comparative boost to $75.7 million. Slots still pulled within the vast majority of casino income per se, but, with a $182.2 million win.

Year-to-date, Atlantic City casino income is up 1.5 per cent, and a complete of 3.2 percent when the state’s Web gaming is factored in.

Online Gambling Strong

The long summer time thirty days of July brought tourists and money to Atlantic City, but online, the economy was additionally sunny.

Internet gaming totaled $17,368,984 during July. That’s a 38.6 % increase from 2015 and a brand new monthly high for that segment.

Borgata maintained its lead on the five casino operators taking part in iGaming, but the gap is closing. Borgata’s online platforms grossed $3,971,138. The Golden Nugget, up 36 % in .

The web gaming market in brand New Jersey is apparently moving towards equal disbursement. Once dominated by Borgata, final month the smallest stakeholder was Resorts with $3,052,298, an improvement of less than $1 million. The Tropicana generated $3.24 million, while Caesars collected $3.39 million.

Resorts has quickly become a major player in New Jersey’s on line gaming sector. Many Thanks to your arrival of its poker network PokerStars, the casino climbed from $558,000 in revenue in July 2015 to $3 million last thirty days.

The world’s largest Internet poker operator hit the Garden State last March following a lengthy vetting procedure by the latest Jersey Department of Gaming Enforcement (DGE). It is currently neck-and-neck that is battling WSOP/888 for the name of New Jersey’s online poker market leader.

Michael Phelps Finishes Olympic Job With 23rd Gold Medal

The one that is great finished. After 23 gold medals, United states swimmer Michael Phelps says his rushing career is over. (Image: Clive Rose/Getty Images)

Michael Phelps has swum his Olympic that is last race. That is if you believe the legendary athlete.

Sixteen years since his very first Olympiad and 28 medals later, Phelps says the medley that is 4x100m had been the ultimate leg in his storied career.

Probably the most decorated Olympian ever sold, Phelps happens to be adamant in post-race interviews that he’s completed. He said the same thing following the 2012 London Olympics, but the 31-year-old says this time is different.

‘Done, done, done, and this time we suggest it,’ Phelps told Matt Lauer. ‘I wished to return and finish my job the way I wanted and also this was the cherry on the top associated with the cake.’

With 23 gold medals, Phelps has 14 significantly more than any other Olympian. His 28 total medals are 10 more than Larisa Latynina’s 18, the second most Olympic that is ornamented athlete.

History into the Books

Nevada and Las Vegas got in regarding the game for the Olympics in 2016. For the time that is first 2000, sportsbooks offered lines on a variety of Olympic disciplines because of the Nevada Gaming Control Board amending regulations in 2015.

For the oddsmakers, that meant learning a bunch of unknown sports. But when it arrived to Phelps and the pool, the decisions were pretty straightforward.

You would need to go against Phelps if you wanted to win any substantial money without placing a substantial bet.

Phelps won five of the six activities he entered. He placed first in the 200m butterfly, 200m medley, 4x100m freestyle, 4x200m freestyle, and medley that is 4x100m.

He had been understandably a heavy favorite at the books in the Silver State. For example, the 4×200 freestyle team event was bettors that are requiring wager the maximum amount of as $700 on the US for a return of just $100.

The event that is lone don’t win, the 100m specific butterfly, had Phelps listed at -140 before the sprint.

Those who bet on Singapore’s Joseph Schooling to win gold were handsomely rewarded. A $100 bet on a Schooling upset of Phelps returned about $1,000 at most Nevada sportsbooks.

Lochte Robbed

Another American swimmer didn’t have quite the same success in Brazil as Phelps. Ryan Lochte, a 12-time olympic medalist in his own right, had a notably disappointing 2016 Summer Games.

He participated in only two activities, and while he was part of Phelps’ 4x200m freestyle gold relay group, he failed to medal in the specific 200m medley.

Things only got even worse following a summary associated with competition that is swimming. Over the weekend, Lochte and several teammates were robbed at gunpoint by thugs in Rio de Janeiro.

‘We got stopped in our taxi and these guys came down with a badge, a police badge. No lights, no nothing, just a police badge. They pulled us over, they pulled out their guns,’ Lochte told NBC.

‘And then the guy pulled out his weapon, he cocked it, put it to my forehead in which he stated, ‘Get down,’ and I place my hands up . . . He took our money, he took my wallet.’

Rio happens to be riddled with debate in its hosting and preparation of the 2016 Olympics. With six days to go until closing ceremonies, Lochte’s run-in with street criminals will have everybody on an also higher alert.