For reasons that are both practical (i.e. you can’t do it in the US) and financial (tax breaks) many online casinos are home based in the Caribbean islands.
As I said, by locating on the islands, they can avoid paying hefty taxes and circumvent gambling laws in countries like Canada and the United States.
However, great risks on involved – as offshore locations are vulnerable to storms that could wipe out entire online gambling operations.
It could happen if a category 4 or 5 slams the islands and that has some folks worried right now, with Hurricane Earl.
This week, Hurricane Earl will be nearing a Category 3 or even 4 – as it travels through Antigua, a major online gambling hub, according to a report by Gambling 911.
The country hosts some of the biggest online gambling operators, including BoDog.com and Intertops.
Several tropical storms have hit the area in the past couple of years, but they have had little effect on the online gambling operators.
But good ole Earl is one of the biggest storms to take over the island in recent years, so online casino operators are bracing themselves for the negative impacts, which could include damaged servers and downtime for their websites.
Hurricane Earl is not expected to go directly through Antigua, although winds will reach up to 100 mph and more than 8 inches of rain will fall.
I’ll be watching the news to see what happens.
No matter what, these operators are smart and you just know they have back up systems to cover such contingencies.
Stay tuned.
By the way…LOVE BoDog.
Earl, don’t mess with BoDog!
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Posted on August 31, 2010 by doclotto | Filed Under Casino, Online, news
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More news that I just picket up from an Associated Press report.
I am just fascinated by the number of counties and states that want casino gambling as a way of raising revenues.
Hypocrites. If states weren’t so cash starved, you and I both know we wouldn’t have so many state run casinos.
Not that I’m complaining. Here is the latest news, from Kansas this time.
An Oklahoma company’s proposal to develop a casino has won a key endorsement as the state makes its third try in two years to get a state-owned casino off the drawing boards in south-central Kansas.
The Sumner County Commission voted 3-0 to endorse only the $255 million plan by Global Gaming LLC to build a casino at the Wellington exit of the Kansas Turnpike.
Harrah’s Kansas wants to build a $260 million casino and Peninsula Gaming Partners of Dubuque, Iowa, has proposed investing $300 million for its project’s first two phases.
A local TV station, KWCH reports the Sumner County commissioners believe the Wellington location would be the best for Sumner County.
Commissioner Jim Newell contended the Wellington casino was the only one with proper infrastructure and utilities in place.
About 30 people spoke at the public session, with about half supporting the casino near Wellington.
Seven others spoke in favor of the Mulvane site, and three asked commissioners to endorse all three proposals and let the state decide the best one.
A second attempt to build a casino in Sumner County failed last spring when Chisholm Creek Casino Resort withdrew its plans to build and manage a casino near Mulvane because of possible competition from a tribal casino in Park City, a Wichita suburb.
My take? Just build the freaking thing and people will come. OK?
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Posted on August 19, 2010 by doclotto | Filed Under Casino
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After nine years of on-again, off-again movement, the Aqueduct casino project now seems all but certain to be a done deal.
Assembly Speaker Sheldon Silver, as expected, has given his approval to Genting New York’s bid, the final of three sign-offs needed in order for the state to now move ahead and sign a memorandum of understanding with the company.
Sisa Moyo, a spokeswoman for Silver, said the Democratic leader informed Gov. David Paterson of his approval on Aug. 11, a day after Democrats in control of the Senate backed the Genting bid. The development plan for Aqueduct needed the unanimous backing of both legislative leaders and Paterson, who has already signaled his support for Genting.
The final approvals were expected after Genting became the sole bidder standing in what was the fourth process in the past nine years to try to get a casino opened at Aqueduct. Genting offered the state $380 million in an upfront franchise fee payment — $80 million more than the floor set by the Paterson administration’s lottery division, which handled the bidding process.
Genting has said it can get 1,600 of the 4,500 slot machines up and running within six months of signing an MOU, which is expected in the days or weeks ahead. The remaining slots would be operating six months after that. Genting, which is a subsidiary of a Malaysian-based casino company, has signaled an interest in a larger casino facility on the site in the years ahead – which is subject to state approval.
The Aqueduct casino was first approved about a month after the 2001 terrorist attacks in New York; state officials saw the racetrack-based casinos as cash generators for the government. While other racinos popped up across the state in the years since, Aqueduct’s facility became stalled due to a host of political and financial factors. The latest round won by Genting is the fourth bidding process during three different gubernatorial administrations.
For the New York Racing Association, the Genting selection represents a potential way out of its annual cash flow mess, which this year led to threats of having to shut down racing operations before another state cash bailout in the form of a loan.
This is the start of something big.
And I’m excited. As a New York City kid (born in Brooklyn, y’all)… and someone who likes to gamble I am happy to see the approval of Genting USA’s plan to install VLTs at Aqueduct racetrack.
Now, we all know this is about money. Tax money. Lots of tax money.
And a state desperately in need of closing the budget gap.
So what’s a Governor to do?
Legalize gambling.
Which in New York City, could be a very cool place to have a casino.
For state officials, the Genting bid represents an immediate flow of cash of $380 million to be used to hopefully help keep the state’s precarious finances balanced.
We’ll see.
I’ll keep you posted.
OR, those of you reading this who are from New York, let me know what you’re hearing about a possible casino in the big Apple.
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Posted on August 13, 2010 by doclotto | Filed Under Casino, Events, Stories
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If you thought that the passage and start up of a state run lottery would open the floodgates to gambling in the great state of Arkansas (LOVE the Razorbacks…I go back to Frank Broyles)…. you were wrong.
At least for now.
A legislative proposal to offer casino gambling in seven counties in Arkansas — including Miller County — won’t be on the November ballot, according to a report in the Associated Press, “because the Texas businessman who is pushing the idea missed the deadline to file a petition with the Arkansas secretary of state’s office.”
How annoying is that?
A businessman named Michael Wasserman said in January that the approval of a state lottery by Arkansas voters had encouraged him to start a petition drive to place a casino gambling amendment on the ballot.
He needed to collect more than 77,000 signatures on the petition.
I don’t know if he did that. Maybe that was the cause of the delay.
Secretary of State office’s spokeswoman Sandra McGrew said Wasserman did not submit a petition by the July 2 deadline to make the November ballot.
Wasserman had proposed that Miller, Boone, Crittenden, Garland, Jefferson, Pulaski and Sebastian counties could have casino gambling, with the casinos operated by his company, Arkansas Hotels and Entertainment Inc.
My advice? Keep at it. Casino gambling is being legalized everywhere for one reason and one reason only. States need the money.
It will happen. Just like the lottery. It’s just a matter of time.
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Posted on August 3, 2010 by doclotto | Filed Under Advice, Casino, news
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Attorney Seth Grossman of Shore Today put out an interesting column today about what’s going on in Atlantic City, given what Gov. Christie has said about taking over….
I thought this was important enough to quote some of Grossman’s good writing, so I am going to excerpt and comment on what he said.
But YOU should know what’s happening. That’s what this post is all about.
Besides, I LOVE going to A.C. Love the casinos.
From the Grossman column: He says…
“New Jersey casinos are in trouble. Although there is corruption and incompetence in Atlantic City’s local government, state government is even worse, which is why local government in Atlantic City got to be so bad in the first place.”
No argument there.
“The casino industry in Atlantic City has many bright and honest people who would make excellent public officials. Yet state laws don’t allow any casino company executive, employee, contractor or supplier to run for public office, make campaign contributions or even speak out on political issues in Atlantic City.”
“State politicians bullied Donald Trump into submission and drove out Steve Wynn in the 1990s.
“The 1978 state casino law also requires that every casino have 500 rooms. This guaranteed a two-year monopoly for Resorts International, a client of powerful attorney and Democrat political boss Pat McGahn. It also kept local family businesses, the backbone of Atlantic City’s economy for 125 years, out of casino ownership.
“Why should only a handful of giant corporations run not only every casino, but also every hotel, shop, theater, and restaurant around every casino?
“State government is also what made taxes so high in Atlantic City and everywhere else in New Jersey, killing any hope of new private investment.
“State politicians also ripped off the casino industry in countless other ways. They threatened to legalize slot machines in North Jersey until the casinos “donated” millions of dollars to bail out the race tracks. Money from the Casino Reinvestment Development Authority became a slush fund that was used to book entertainment and reward political friends.
“Republicans and Democrats in state government got away with all this for 32 years. But now, gamblers, tourists and investors all have other options in Pennsylvania and Delaware.
“Too much state government is killing Atlantic City, yet Republicans and Democrats want more of it. Why not try more liberty instead?
“Why not let people with casino licenses run for local office, support candidates, and speak out on public issues?
“They have those rights in Nevada, and everywhere else in America”.
Thank you, Seth.
Stuff to think about, right?
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Posted on July 29, 2010 by doclotto | Filed Under Atlantic City, Casino, Events, news
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