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Wednesday, December 31, 2014

Nevada gambling revenue flat in November



What other industry reports the $$$ they have sucked from the local economy with such great gusto?



Nevada gambling revenue flat in November

Associated PressDecember 30, 2014
 
— With outlying casinos performing better than those on the Las Vegas Strip and more spending at slot machines than a year ago, it may seem like a strange month that left Nevada's gambling revenue virtually flat in November.
 Some of those anomalies could come down to a technicality: when casinos actually collected the winnings from each machine.

Michael Lawton, senior research analyst with the Nevada Gaming Control Board, said that because the end of November 2013 fell on a weekend, casinos often wait to count the winnings until December, lumping the amount with that month instead. That didn't happen this past November, leaving casinos and state statistics looking buoyed by a surge in slot-machine revenue.

Revenue was up less than one-tenth of 1 percent for $876 million, compared with the same month a year ago, according to the latest figures from the Gaming Control Board.

Las Vegas Strip gambling revenues of $508 million were down 4 percent year-over-year, while downtown revenue of $43 million was up 13 percent.

Areas off the Strip that cater to locals saw increases. North Las Vegas, which recorded $20.8 million in winnings, saw its revenues rise by 38 percent, and the Boulder Strip area's revenues went up 21 percent to $58 million in November.

Usually baccarat, the lucrative but highly volatile game preferred by high rollers, can be pointed to for the up or down swings in the Strip's performance.

Casino winnings on the game dropped less than 2 percent, though, indicating Strip casinos hadn't lost their big spenders, said David Schwartz, director of the Center for Gaming Research at the University of Nevada, Las Vegas.

What the Strip lost appeared to be money from nearly every kind of card game except Pai Gow and Let it Ride.

Casino winnings from sports books statewide were up 5.6 percent. The total amount bet on sports, $535.5 million, was a record, Lawton said.

Reno casino revenue was down less than 1 percent to $43 million, and South Lake Tahoe gambling revenues plunged 30 percent to $12 million in November.
 The state collected $47 million in taxes based on the November winnings, which is down 5 percent from the same time last year.

http://www.thestate.com/2014/12/30/3899698_nevada-gambling-revenue-flat-in.html?rh=1





Genting making its presence felt in US landscape


Genting entered Massachusetts without scrutiny as the GENEROUS SUGAR DADDY for the Mashpee Wampanoag Tribe.




No one even asked questions about this:

Genting Connected to Islamic Extremists?


Genting making its presence felt in US landscape


Genting making its presence felt in US landscape
 
 
 
The Straits Times

In the large ongoing shake-up of the United States gaming landscape, one household name in Singapore has been quickly making a name for itself: Genting.

Though the Malaysian company that runs Resorts World Sentosa still has a relatively small footprint in the US compared with the likes of Las Vegas Sands or Caesars, it is making its presence felt, especially in newer US markets.

Florida-based Genting Americas currently runs two gambling operations - a racecourse-video lottery casino combination near John F. Kennedy Airport in New York, and a casino resort in Bimini, the Bahamas, off Miami.

While its ambitious plans have been hit-and-miss so far, Genting's aggressiveness has certainly got noticed. It has been spending aggressively and has also assembled a well-connected group of lobbyists.

For instance, Genting reportedly told the New York casino board that it would pay US$450 million (S$596 million) for a state gambling licence - a shocking sum, given that state officials announced the price would be between US$20 million and US$70 million.

Mr James Featherstonhaugh, president of pro-casino lobby group New York Gaming Association, said in a radio interview that the fee was Genting's version of "shock and awe".

Genting has also donated US$340,000 to a New York state school district where it wanted to build a casino, and promised at least US$50 million to the town if it wins a casino licence.

A report by the New York Public Interest Research Group published in July found that "Genting Group spent more than any other bidder on both lobbying and campaign contributions" over the two years from 2012 to last year.

The report estimated that it spent US$2.4 million on lobbying efforts alone, four times more than any other operator. Genting Americas declined to comment when approached by The Straits Times.

Of the 16 proposals that the New York Gaming Commission considered, two were from Genting and a third was from Empire Resorts, a US gaming company with deep ties to Genting.

The most ambitious of the three, and also the one that most upset residents, was a US$1.5 billion, 97ha integrated resort at the site of a ski centre at Sterling Forest, just an hour's drive from New York City. The proposal drew fierce objections from residents worried about the impact of a resort on the surrounding forest as well as the social problems a casino might bring.

The New York casino board eventually rejected Genting's proposals about two weeks ago and approved the one by Empire Resorts.

Genting had faced similar problems in Florida where it hoped to build what it touted as the world's largest casino. In 2011, despite little certainty that the state would approve a casino in Miami, Genting paid US$400 million for land and donated more than US$500,000 to political parties.

With Florida seemingly unlikely to legalise gambling in Miami any time soon, Genting has had to downsize its plans, saying it will now look to build condominiums and a luxury hotel there.

Where it has had success is in Las Vegas, and it is going all out there. In May, the Las Vegas Gaming Commission gave Genting the preliminary green light to begin construction of a US$4 billion mega-resort on the Las Vegas strip. Even Nevada Gaming Commission chairman Peter Bernhard described it as a "game-changer" for Las Vegas.

And it now remains to be seen where Genting goes from here.

JEREMY AU YONG




http://business.asiaone.com/news/genting-making-its-presence-felt-us-landscape



Tuesday, December 30, 2014

"....problem gambling is a vicious cycle....."





Hwang honored for fight against gambling addiction

Gambling addicted bank manager gets federal prison for stealing from elderly customers




Notice that the casinos are unnamed and they get to keep the $$$$!



Gambling addicted bank manager gets federal prison for stealing from elderly customers

HARRISBURG - Former bank manager Tiffany K. Look was visibly distraught even before a federal judge walked into the courtroom Monday morning.
She had reason to be.


Moments later, U.S. Middle District Judge John E. Jones III sentenced Look, 40, of Harrisburg, to 2 years in federal prison for stealing nearly $140,000 from elderly customers.


Look's lawyer, A. Mark Winter, said she committed the crimes while in the grip of a gambling addiction.

"At the end of the day, I knew right from wrong. And I chose wrong," a tearful and apologetic Look told the judge. "I have no excuses."

"This is the most virulent gambling addiction I've ever seen," Jones said. "This is a fairly audacious and almost inexplicable crime. I guess the casinos pulled you down."

Look's sentencing came seven months after federal authorities charged her with stealing from four customers of Mid Penn Bank and Members 1st Federal Credit Union between 2007 and 2013. She was a manager at Members 1st's Camp Hill branch when the crimes were discovered in late 2013.
Look pleaded guilty to a federal mail fraud charge.

Two of her victims were homebound with medical problems. Look also stole from the account of a customer who died from cancer in his mid-50s.

"I did it for really selfish reasons," Look told Jones, citing the pull of her gambling urge. She said she is receiving counseling. Winter said her friends and family, about 20 of whom watched the sentencing hearing, will be there to support her recovery when she gets out of prison.
Assistant U.S. Attorney Joseph J. Terz called Look a "predator."

"She sought them out. They were vulnerable," he said of the victims. Look's actions also harmed the reputation of her employers, he said.

Still, although she initially lied to bank security about the thefts, Look quickly confessed when federal agents began investigating, Terz said.

None of the victims were present, but Charles McBreen, a Members 1st assistant vice president, spoke for them. Look, once a "trusted member of our management team," knew most of the victims and had even been in their homes, McBreen said.

She used her knowledge to take out a $25,000 personal loan in one victim's name without the customer's knowledge. She siphoned off another's Social Security payment, McBreen said, and cut herself a $62,000 check from the account of the client who had died as that victim's elderly parents sat in her office. In another case, she drew $43,000 in cash from a victim's account and simply walked out of the bank, he said.

While the financial institutions have made the victims whole, "they have lost trust," McBreen said. "These were unsuspecting, elderly people," he said. "People like we will be some day."

Jones told Look, who has been banned by FDIC from working in the financial industry, that she must have known her crimes would be discovered. "You were totally off the rails," he said. "I guess, in the end, it was all about you and your gambling."

Jones noted that Look had a prior criminal conviction for passing bad checks, but said he believes she has demonstrated "heartfelt contrition" for the gambling-inspired thefts. "You have to pay the price," Jones said in imposing the prison term, a consecutive 3 years of probation and an order for $139,820 in restitution.

Still, he said he doesn't regard Look as irredeemable. "Maybe you can look at this as a fresh start…and make something good out of it," Jones said.


http://www.pennlive.com/midstate/index.ssf/2014/12/gambling_addicted_bank_manager.html

Monday, December 29, 2014

MA Legislature attempts to secretly hand ATMs to casinos in end-of-year lobbying push



MA Legislature attempts to secretly hand ATMs to casinos in end-of-year lobbying push

End-of-year informal sessions in the legislature are somewhat notorious for sneaking through substantial policy shifts like this one. Keep your eyes open. - promoted by david
 




On Christmas Eve morning, when virtually no media, citizens or other state legislators were paying attention to legislative business, the Massachusetts Senate approved an amendment during informal session that would allow ATMs inside casinos. This stunning action occurred even though the intent of informal session is to move non-controversial legislation.
Casino ATMs are one of the most predatory and financially damaging business practices used by casinos and they were expressly prohibited when the casino law was signed by Governor Deval Patrick. The ban on ATMs was a core part of the political narrative that Patrick and other casino sponsors sold the public: “We’re going to do casinos right, better than everyone else.”
Why are casino ATMs an issue that you should care about and act on? A leading indicator of someone who is being harmed and financially damaged by casinos is if he or she chases their losses. ATMs are the primary vehicle used by casinos to lure citizens to chase. Their business model hinges on it. Over the last decade there are 11 different independent studies – studies not funded by gambling interests – that show 40%-60% of slot machine profits are taken from citizens who can’t stop chasing their losses.
This is how it works: A citizen goes into the casino and loses all their cash or the “free play” voucher mailed to them by the casino (most often, they lose it all on slot machines which predominate inside casinos.) This is a pivotal moment for the casino…can they get that citizen to chase his or her losses? Slot machine design and free alcohol are two of the critical factors that lure citizens to chase. If the casino is successful, then the next step is the citizen hits the casino ATM to withdraw more money. Most casino ATMs are owned by Global Cash Access (GCA) which then turns around and sells the name, credit info and other information of that citizen back to the casino. Then the casino focuses its most intense marketing efforts against that citizen because they know that if they can get him or her to return to the casino and keep gambling, it is almost inevitable that citizen will keep losing, chasing their losses over and over again. From a casino marketing standpoint, it is the equivalent of painting the citizen in neon orange fluorescent paint with a massive bulls eye on their back.
Removing the state’s ban on ATMs inside casinos does not qualify as “non-controversial” and no such legislation should be moved during informal legislative session. It is a major consumer protection issue that merits bright sunshine.
I ask everyone to please contact your state representative and state senator today or first thing Monday morning and call on them to remove the amendment language approving casino ATMs in House Bill 4110. You can find the contact info for your rep and for your senator here. You can view the full legislative history for House Bill 4110 here.
To learn more about Global Cash Access and their predatory and harmful business practices, I invite you to watch one of their own marketing videos:
 








Repeal of ATM casino ban is in bold.
Banking Laws
Mr. Brewer moved that the bill be amended by striking out, in line 15, the figure “1206” and inserting in place thereof the following figure:- “1026”; and
by striking out, in line 75, the words “federal Community Reinvestment Act of 1977” and inserting in place thereof the following words:- “community reinvestment act in section 14”; and
by inserting after section 27 the following section:-
“SECTION 27A. The second paragraph of section 3 of said chapter 167B, as so appearing, is hereby amended by striking out the last sentence.”; and
by striking out, in lines 359 and 360, the words:- “; provided, however, that “financial institution” shall mean a bank for the purposes of the first, second and third paragraphs of section 3 and for the purposes of section 4”; and
by striking out, in line 834, the words “; provided, however, such” and inserting in place thereof the following words:- “. If, in the opinion of the commissioner, there is an unusual demand by depositors for withdrawals, the bank shall upon the commissioner’s order require such a depositor to give written notice of the depositor’s intention to withdraw the whole or any part of such deposits or to apply for a loan secured by such deposit. Such”; and
by striking out, in lines 1140 and 2212, the word “consistent” and inserting in place thereof the following words:- “not inconsistent”; and
by adding the following section:- “SECTION 65. Notwithstanding any general or special law to the contrary, the Massachusetts gaming commission shall prohibit a gaming licensee from (i) installing, owning or operating an automated teller machine in the gaming area, as defined in section 2 of chapter 23K of the General Laws, or (ii) allowing another person to install, own or operate an automated teller machine in the gaming area, as defined in said section 2 of said chapter 23K. For the purposes of this section, the prohibition shall include, but not be limited to, an automated teller machine or electronic branch of any state or federally-chartered bank, state or federally-chartered credit union or foreign bank.”
 
 
 


 

Sunday, December 28, 2014

MA Legislature is attempting to secretly hand ATMs to casinos






On Christmas Eve morning, when virtually no media, citizens or other state legislators were paying attention to legislative business, the Massachusetts Senate approved an amendment during informal session that would allow ATMs inside casinos. This stunning action occurred even though the intent of informal session is to move non-controversial legislation. Please take 5 minutes tonight or Monday morning to call both your MA state rep and state senator and tell them to remove the amendment language approving casino ATMs in House Bill 4110. Here's why.

Casino ATMs are one of the most predatory and financially damaging business practices used by casinos and they were expressly prohibited when the casino law was signed by Governor Deval Patrick. The ban on ATMs was a core part of the political narrative that Patrick and other casino sponsors sold the public: "We're going to do casinos right, better than everyone else."

Why are casino ATMs an issue that you should care about and act on? A leading indicator of someone who is being harmed and financially damaged by casinos is if he or she chases their losses. ATMs are the primary vehicle used by casinos to lure citizens to chase. Their business model hinges on it. Over the last decade there are 11 different independent studies – studies not funded by gambling interests - that show 40%-60% of slot machine profits are taken from citizens who can’t stop chasing their losses.

This is how it works: A citizen goes into the casino and loses all their cash or the "free play" voucher mailed to them by the casino (most often, they lose it all on slot machines which predominate inside casinos.) This is a pivotal moment for the casino...can they get that citizen to chase his or her losses? Slot machine design and free alcohol are two of the critical factors that lure citizens to chase. If the casino is successful, then the next step is the citizen hits the casino ATM to withdraw more money. Most casino ATMs are owned by Global Cash Access (GCA) which then turns around and sells the name, credit info and other information of that citizen back to the casino. Then the casino focuses its most intense marketing efforts against that citizen because they know that if they can get him or her to return to the casino and keep gambling, it is almost inevitably that citizen will keep losing, chasing their losses over and over again. From a casino marketing standpoint, it is the equivalent of painting the citizen in neon orange fluorescent paint with a massive bulls eye on their back.

Removing the state's ban on ATMs inside casinos does not qualify as "non-controversial" and no such legislation should be moved during informal legislative session. It is a major consumer protection issue that merits bright sunshine.

I ask everyone to please contact your state representative and state senator today or first thing Monday morning and call on them to remove the amendment language approving casino ATMs in House Bill 4110. You can find the contact info for your rep and for your senator here. You can view the full legislative history for House Bill 4110 here.

To learn more about Global Cash Access and their predatory and harmful business practices, I invite you to watch one of their own marketing videos here.

Thanks for exercising your power to act on this issue.

Best,

Les

____________

Les Bernal

National Director

Stop Predatory Gambling

"End the dishonesty and harm of government-sponsored gambling and the unfairness and inequality it creates."

If you support our mission and work, please become a member of Stop Predatory Gambling today.


Stop Predatory Gambling Foundation ι 100 Maryland Avenue NE, Room 310 ι Washington, D.C. 20002 ι (202) 567-6996

 

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Saturday, December 20, 2014

Gambling Addict embezzled $247K from Non-Profit


Remember that CASINOS have your financial information...Casinos know you're GAMBLING with more $$$$ than you have.


Records: Woman who stole $247K from TCAT was addicted to gambling

(Related: Inside the unravelling of woman’s TCAT embezzlement scheme.)

‘It’s been very painful’

Gambling problem

$1.7 MILLION Embezzled for ADDICTION






Dennehy, 41, pleaded guilty to a single count of bank fraud, admitting he forged numerous company checks over six years. Confronted with forged checks and explicit images of his torrid encounters, Dennehy agreed to plead guilty before the FBI and federal prosecutors took his case to a grand jury for…
M.MYSANANTONIO.COM


Of the $1.7 million that Bexar Waste employee Michael Dennehy embezzled from the company, most of it went to escorts and gambling, he admitted Wednesday in federal court.

His admission appears to have set the unofficial record in San Antonio held by defendants who spent ill-gotten gains on prostitutes or strippers, some observers have noted. Dennehy, 41, pleaded guilty to a single count of bank fraud, admitting that he forged numerous company checks over six years.

Defense attorney Alan Brown said his client, who is married with five children, succumbed to urges he could not control.

“He did spend it on gambling and on escort services, as the (feds) allege,” Brown said. “I think those are big addictions. He feels remorse and wants to make amends for it.”

Confronted with forged checks and explicit images of his torrid encounters, Dennehy agreed to plead guilty before the FBI and federal prosecutors took his case to a grand jury for indictment, records show. He faces a maximum of 30 years in federal prison when Senior U.S. District Judge David Alan Ezra sentences him March 9.

An FBI affidavit said Bexar Waste hired Dennehy in 2004 as a truck stocker and recycler. In 2008, he was promoted to a position managing accounts payable and began writing checks to himself of $1,200 to $1,800, depositing them into his personal bank accounts, the affidavit said. He also wrote company checks to pay his American Express bills and began stealing larger amounts of money as time went on, the affidavit said.

He used a stamp to forge authorized signatures on the checks and changed the name of the payees in QuickBooks to conceal that the money had gone to him, the affidavit said. The fraud was not detected until this past August, the affidavit said.

Dennehy’s spending spree eclipsed that of Todd C. Seward, who pleaded guilty Nov. 19 to bank fraud and identity theft and admitted that he spent most of the $400,000 he embezzled from a former employer on strippers.

When Dennehy is sentenced, he likely will be ordered to pay restitution — a tall order given his current work. He’s a self-employed house cleaner.

“He’s trying his best, but it’s hard to get back what you spent at casinos and (on) women,” Brown said.



http://m.mysanantonio.com/news/local/crime/article/Man-blew-stolen-1-7-million-on-escorts-and-5963602.php



Pretending to Police Gambling Addiction


When Harrah's [now Caesars] discovered under Gary Loveman's brilliant guidance determined that 90% of their revenues came from 10% of their patrons, Harrah's targeted, marketed, comped and pursued that 10%.
That's Gambling Addiction without which the Gambling Industry could not survive.


Massachusetts ‘Gaming’ Future
Is Rep. Gingrich saying our legislators and the (PGCB) Pa. Gaming Control Board is policing the compulsive gambling problem in our casinos, if so, where’s the proof. I would like her to give me one thing any of them have done that addresses this problem. The only legislation that has been put forth since our Gaming Law passed in 2004 that addresses this problem is Casino Monthly Statements. The reason it hasn’t passed in the last four sessions is because our casino operators/lobbyists have made our lawmakers well aware of the ill-effect these statements will have on the casinos bottom line and that will have a negative effect on state gaming tax coffers.
The Morning Call - December 14, 2014 - Survey says: Taxes will rise under Wolf
Nearly one-half of those polled support legalizing online gaming to raise money for the state. No legislation is pending to allow online gaming, but the idea is being floated, said state Rep. Mauree Gingrich, R-Lebanon County, chairwoman of the House Committee on Gaming Oversight.
"Discussion is occurring as a result of the consumer support and the commonwealth's budget revenue challenges," she said.
"While convenience is a key element, the persistent challenge of gambling addiction and abuse may well be magnified since the ability to police the gaming process will be completely different and more complex," Gingrich said.
 
 
 
 
 

Casinos ‘BREED’ gambling degenerates who become criminals.




Massachusetts ‘GAMING’ Future
Casinos ‘BREED’ gambling degenerates who become criminals.
 
Associated Press - December 15, 2014 - DA: Fired Pittsburgh-area mall manager stole $51K
 
WEST MIFFLIN, Pa. (AP) — The fired manager of a Pittsburgh-area mall has been charged with stealing more than $51,000 which he then spent mostly at casinos.
 
Online court records don't list an attorney for 51-year-old John Sabino, of Wexford, who also doesn't have a listed phone.
 
The Allegheny County district attorney's office on Monday announced that Sabino was charged with theft and surrendered last week.
According to a criminal complaint, Sabino had checks made out to himself for events scheduled at the Century III Mall in West Mifflin. Investigators say the events either never occurred or that vendors who put on the events were paid directly and not through Sabino. He was fired in August when the money was found to be missing.
 
The DA says Sabino deposited the checks in his bank account and withdraw it at casino ATMs.