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Poker News Media: Bluff Media U. S. Operations Purchased By Churchill Downs, Inc.
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Bluff Media U. S. Operations Purchased By Churchill Downs, Inc...
In a stunning late afternoon announcement on Friday, the famed equine organization Churchill Downs, Inc., announced the purchase of the entirety of the Bluff Media organization’s United States properties.
Although terms of the sale were not disclosed, the purchase by Churchill Downs, a publicly traded company on the NASDAQ stock exchange under the tag “CHDN,” is viewed as a potential move by the company to enter into the online gaming business. In the press release announcing the sale, Churchill Downs representatives state, “(It is Churchill Downs) intention to further expand and build upon Bluff Media’s current content and business model…this acquisition potentially provides (Churchill Downs) with new business avenues to pursue in the event there is a liberalization of state or federal laws with respect to internet poker in the United States.”
The sale is literally for the entirety of Bluff Media’s U. S. operations. Bluff Magazine (in both its print and online versions) and several of its blogs, forums, rankings and other URLs (interestingly, such as BluffPoker.com) will be under the new ownership, but another part of the company that was purchased may be of interest to players. ThePokerDB, one of the more reliable poker databases on the internet, will also be under the Churchill Downs twin spires.
While Churchill Downs has purchased the entirety of Bluff Media, the powers that be will remain in their current positions. Co-presidents Eddy Kleid and Eric Morris, who have been at the helm of the company since its inception, and vice president of online operations Jeff Markley all will remain with Bluff Media and continue to lead the company going forward. Foreign versions of the magazine, such as Bluff Europe, are not expected to be impacted by the sale.
The sale of Bluff Media has once again sparked consideration that the movement towards federally legislated internet poker in the United States. On the Two Plus Two forum, poster ‘oneonth3run’ asks, “Anyone in the know care to speculate what this could mean in the larger picture? They must be expecting certain things to happen at the top, and I wonder how they will utilize BLUFF going forward.”
Others in the 2+2 thread picked up the discussion as to why Bluff made this move at this time. Poster ‘AdamSmall’ stated, “Bluff was a perfect acquisition target really. They’re a US-based, US-heavy poker media company that presumably got hurt badly by Black Friday. They have a lot of reach and a good amount of history in the industry, and I think between their history and their brand name they have a lot of value still. The name Bluff is a very noticeable, reputable and easy to remember name for both current and prospective customers.”
The history of Bluff has been one of the success stories of the poker industry. Starting out as a bimonthly magazine in 2004, within a year it was published on a monthly basis. The magazine became the primary challenger to one of the venerable poker publications in the industry, CardPlayer Magazine, and also has been a partner with the World Series of Poker for its online and radio coverage.
The new partnership will be a way for one of the most recognizable names in the thoroughbred industry to enter into any potential U. S. online poker industry. The owners of the namesake racetrack which hosts the Kentucky Derby, the company also has interests in other racetracks around the United States, its own website (twinspires.com), and half-ownership in Horse Racing TV, among other items. Prior to the announcement of the purchase on Friday, Churchill Downs, Inc. closed at $55.87 on the NASDAQ exchange, a $.44 drop (.78%) from their Thursday price. (Credit: Poker News Daily)
WPT Lucky Hearts Poker Open Day 1A: Uri Kadosh, Eliyahu Levy Lead Jason Mercier...
The first of two Day Ones is in the books for the World Poker Tour’s Seminole Hard Rock Lucky Hearts Poker Open in Hollywood, Florida, with a cozy starting field that should get larger after Saturday’s play.
125 players stepped up on Day 1A, putting up their $3500 buy in for this non-televised event and, although the field was a bit smaller, there were still challenges around the room. Season Ten Player of the Year leader Will “The Thrill” Failla, reigning POY Andy Frankenberger, Jonathan Little, “The Raw Deal” host Tony “Bond_18” Dunst, Shaun Deeb and Matt Waxman were just a few of the familiar faces at the start of the day, but they would be joined by other challengers who decided to take a late registration option.
One of those tables was particularly challenging. Noah Schwartz, Christian Harder and Matt Stout all ended up on the same felt due to late registration for the tournament, while other players went about their day of work with different results. Christopher Tryba was an early casualty when his pocket Jacks failed to catch against an opponent’s pocket Aces, but former WPT champion Rhynie Campbell was able to drop Steve Levy when his Aces stood up against Levy’s K-Q.
As the players worked their way to the dinner break, the field was dramatically reduced in comparison to the time played and the low blinds. From the 125 starters, only 96 players made their way to dinner in a somewhat happy mood. Campbell was one of these eliminations at the hands of Deeb.
It was thought that this pace couldn’t be maintained but the players actually increased the rate of eliminations as the night wore on. Deeb continued to accumulate chips as, against then-chip leader Matthew O’Donnell, he was able to get O’Donnell to lay his hand down on a 6-5-5-8-9 board to move up to 95K in chips. Dunst was not as fortunate, losing with pocket tens to his opponent’s pocket eights.
The Day 1A chip leader would not be determined until the second to last hand of the night. After a short stack moved all in, Uri Kadosh (who had avoided the limelight for much of the day) made the call and tabled Big Slick against his opponent’s suited 4-2. A four came on the flop but, unfortunately for the short stack, a King was there as well. Once the turn and river didn’t bring another four or a deuce, Kadosh had eliminated his opponent to end the night over the 275K mark and reduce the field to fifty players:
1. Uri Kadosh, 275,500
2. Ely Levy, 218,550
3. Jason Mercier, 176,400
4. Omar Sider, 170,600
5. Nick Avera, 133,200
6. Michael Michnik, 121,100
7. David Tiffenberg, 112,900
8. Shaun Deeb, 112,700
9. Victor Heffesse, 111,900
10. Mike Corbett, 111,300
Other notable names that are above the average chip count (44,347) include Shannon Shorr, Matt Giannetti, Schwartz and Waxman, while Allen Kessler and Failla will have some work to do on Sunday.
Perhaps the reason for the high knockout rate on Friday was the “second chance” option the Lucky Hearts tournament provided. For those players who were eliminated on Day 1A, they could buy in again on Day 1B and take a second shot. Several players, including Todd Terry, Kathy Liebert (who commented over Twitter, “I’m on Level 3 today, I think that’s better than Level 1!”), Dunst, Little and Lichtenberger have decided to step up for that second barrel.
By the end of action on Saturday, the total field size as well as the payouts will be known for this latest WPT event. Befitting the tournament’s name, the final table will be played out on Tuesday (Valentine’s Day) and will definitely award the champion with an excellent six figure score. (Credit: Poker News Daily)
Russia’s Rinat Bogdanov Wins WPT Venice Grand Prix...
Battling through a twelve hour final table – as well as the uber-aggressive opponents surrounding him – Russia’s Rinat Bogdanov emerged as the champion of the World Poker Tour Venice Grand Prix early Saturday morning (Venice time).
When the final six men came to the table on Friday afternoon, Italy’s very own Andrea Dato held the lead with his 1.591 million chip stack. This provided him with a good lead over two other contenders, Day Three chip leader Simon Ravnsbaek (922K) and Bogdanov (905K), while the other three members of the final table – Alessandro Longobardi (558K), Andrea Carini (347K) and Gianluca Trebbi (343K) – had their work cut out for them if they were to make a run at the championship.
From the start, Ravnsbaek and Dato were the major players on the felt, pushing their shorter stacked opponents around and adding to their chip stacks. The duo would even clash with each other, with Ravnsbaek coming out on the worse end of a couple of exchanges to chop his stack from second place to fifth within the first hour of action.
After another hour of play, the first elimination would occur. After Dato raised the pot to 50K, Carini pushed his remaining chips to the center of the felt. After Dato made the call and tabled pocket eights, Carini saw that his chances were slim with an off suit A-3. By the turn, he had a gutshot straight draw to go with his Ace, but couldn’t find either on the river, eliminating Andrea Carini in sixth place.
Following Carini’s elimination, Ravnsbaek began to mount a comeback. He doubled up through Longobardi when his pocket Aces were the cooler to Longobardi’s pocket tens, then would take over the lead when he doubled again with A-Q versus Dato’s pocket eights. After three hours of play, Ravnsbaek had been from the penthouse to the basement and back again, holding a slim 200K chip lead over Dato that, unfortunately, wouldn’t last very long.
After moving all in on several occasions, Gianluca Trebbi was eliminated in fifth place when his 10-7 of hearts failed to catch against Longobardi’s pocket Jacks. Ravnsbaek’s aggressive play finally caught up with him when he pushed all in for 600K with pocket deuces and Bogdanov looked to see pocket tens in his hole cards. Once the board ran with no help for him, Ravnsbaek was out of the tournament in fourth place.
By the time the dinner break rolled around, Dato had moved back into the lead over Longobardi and Bogdanov, with the Russian’s chip stack shrinking in comparison to his two foes. Dato and Longobardi went to battle following dinner, with Dato picking up a big pot on a complete bluff to push his stack to the three million mark and drop Longobardi to just over one million.
It was at this time that Bogdanov began his charge. Basically pushing with any two cards, Bogdanov would find a double through Dato to get back into the mix. After picking up a big hand against Longobardi, the three players were virtually equal in chips.
Bogdanov would make the first breakthrough, resulting in the elimination of Dato. After Dato jammed with an unassuming K-4 off suit, Bogdanov found Big Slick in his hand and made the call. An Ace on the flop basically ended the hand and, once a blank came on the turn, Andrea Dato was out in third place and Rinat Bogdanov became the surprising chip leader.
Within two hands of Dato’s departure, the tournament was over. After losing the first hand, Longobardi raised it to 200K holding an off suit K-Q and Bogdanov made the call with only a 6-4. Longobardi caught a Queen on the flop, but there was a four there as well and Bogdanov called a bet from Longobardi. When a six came on the turn, Bogdanov made two pair and check called another bet from Longobardi. Another four on the river brought the fireworks as, after Bogdanov checked, Longobardi fired off 300K. Bogdanov moved all in and, after a moment, Longobardi made the call, only to see his Queens up vanquished by Bogdanov’s full boat.
1. Rinat Bogdanov, €229,800
2. Alessandro Longobardi, €111,700
3. Andrea Dato, €72,275
4. Simon Ravnsbaek, €52,565
5. Gianluca Trebbi, €42,705
6. Andrea Carini, €32,195
With the end of the WPT Venice Grand Prix, the tournament circuit will come back to the U. S. for their next three tournaments. Beginning today, the Seminole Hard Rock Lucky Hearts Poker Open is in action while, later in the month, the L. A. Poker Classic will be contested. In March, the WPT will visit San Jose, California, for the Bay 101 Shooting Star and, in April, the WPT will head back to Europe with a stop in Montesino, Vienna, Austria. (Credit: Poker News Daily)
2012 WPT Venice Grand Prix Day 3: Simon Ravnsbaek Leads Tight Final Nine...
It is going to be a short day at the World Poker Tour (WPT) Venice Grand Prix on Thursday. If this wasn’t the World Poker Tour, the nine players remaining might be going to bed mentally preparing for Day 4’s final table action. But this is, in fact, the WPT, and final tables here are six-handed, so Day 4 will see just three eliminations before adjourning. Bagging up the most chips at the end of Day 3 was Denmark’s Simon Ravnsbaek, proud owner of a 795,000 chip stack.
Ravnsbaek isn’t on an island, though. Alessandro Longobardi is right behind with 783,000, Andrea Dato is close with 726,000, and Jason Wheeler is sitting on a stack of 699,000 chips. In fact, it looks like it could still be just about anybody’s tournament, as all but two players have over 400,000 chips. And those two players – Rinat Bogdanov and Massimo Mosele – have 20 and 16 big blinds, respectively, so it’s not like they are already at “all-in with any two cards” mode…yet.
The story of Day 3 was arguably the fireworks that surrounded the chip leader going into the day, Marcel Bjerkmann. The fun started on the bubble when the tight Lionel Tran moved all-in for his last 50,000 chips with pocket Kings. Bjerkmann had tons of chips, so why not call with J-4 suited? Tran was still doing alright after the flop of J-T-8 rainbow, but another Jack on the turn allowed the chip leader to suckout and put everyone remaining into the money.
A little while later, after Bjerkmann had been moved to an aggressive table, he four-bet shoved on Simon Ravnsbaek with just A-4. Ravnsbaek made the call with Q-Q and doubled-up to about 330,000 chips. Bjerkmann was still doing fine, though, falling to 460,000.
After the next break, things got crazy. James Akenhead raised to 8,500 pre-flop and was called by Andrea Dato, Marcel Bjerkmann, and one other player. Upon the Qc-8h-7s flop, the players check to Dato, who bets 15,000. Bjerkmann decided to go with a check-raise to 44,000, forcing the other two players to fold before Dato called. The dealer laid out the 8d on the turn, prompting a 64,000 chip bet from Bjerkmann and another call by Dato. Bjerkmann again led out on the river for 82,000 when the 4h was dealt. Dato proceeded to ponder his move for two full minutes before calling.
As he was the original bettor, Bjerkmann had to show first, revealing he was on a complete bluff with just 5c-9c. Dato must certainly have had that beat, but it almost must have been a tough decision to call, considering how long he took to act. Right? Not quite. Dato flipped over pocket 7’s for the full house.
Bjerkmann was incensed. “That is the sickest slow roll I have ever had in my life,” he growled at Dato. “Do not talk to me dude. If you see me in the street do not talk to me.”
Undeterred, Bjerkmann kept on plugging away, but that didn’t mean he was calm. He continued to jaw at Dato throughout the night, regardless of whether or not the two were involved in a pot together (they were on more than one occasion). Eventually he succumbed to the current chip leader, Simon Ravnsbaek, as his Ah-8h could not improve against pocket 5’s.
Play will resume at 1:00pm local time as the tournament makes it down to the final table. Again, it should be a short day, as only three more players must be eliminated for that to happen.
2012 WPT Venice Grand Prix – End of Day 3 Chip Counts
Simon Ravnsbaek: 795,000
Alessandro Longobardi: 783,000
Andrea Dato: 726,000
Jason Wheeler: 699,000
Gianluca Trebbi: 474,000
Andrea Carini: 430,000
Jeremie Sochet: 402,000
Rinat Bogdanov: 201,000
Massimo Mosele: 163,000 (Credit: Poker News Daily)
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Bluff Media U. S. Operations Purchased By Churchill Downs, Inc...
In a stunning late afternoon announcement on Friday, the famed equine organization Churchill Downs, Inc., announced the purchase of the entirety of the Bluff Media organization’s United States properties.
Although terms of the sale were not disclosed, the purchase by Churchill Downs, a publicly traded company on the NASDAQ stock exchange under the tag “CHDN,” is viewed as a potential move by the company to enter into the online gaming business. In the press release announcing the sale, Churchill Downs representatives state, “(It is Churchill Downs) intention to further expand and build upon Bluff Media’s current content and business model…this acquisition potentially provides (Churchill Downs) with new business avenues to pursue in the event there is a liberalization of state or federal laws with respect to internet poker in the United States.”
The sale is literally for the entirety of Bluff Media’s U. S. operations. Bluff Magazine (in both its print and online versions) and several of its blogs, forums, rankings and other URLs (interestingly, such as BluffPoker.com) will be under the new ownership, but another part of the company that was purchased may be of interest to players. ThePokerDB, one of the more reliable poker databases on the internet, will also be under the Churchill Downs twin spires.
While Churchill Downs has purchased the entirety of Bluff Media, the powers that be will remain in their current positions. Co-presidents Eddy Kleid and Eric Morris, who have been at the helm of the company since its inception, and vice president of online operations Jeff Markley all will remain with Bluff Media and continue to lead the company going forward. Foreign versions of the magazine, such as Bluff Europe, are not expected to be impacted by the sale.
The sale of Bluff Media has once again sparked consideration that the movement towards federally legislated internet poker in the United States. On the Two Plus Two forum, poster ‘oneonth3run’ asks, “Anyone in the know care to speculate what this could mean in the larger picture? They must be expecting certain things to happen at the top, and I wonder how they will utilize BLUFF going forward.”
Others in the 2+2 thread picked up the discussion as to why Bluff made this move at this time. Poster ‘AdamSmall’ stated, “Bluff was a perfect acquisition target really. They’re a US-based, US-heavy poker media company that presumably got hurt badly by Black Friday. They have a lot of reach and a good amount of history in the industry, and I think between their history and their brand name they have a lot of value still. The name Bluff is a very noticeable, reputable and easy to remember name for both current and prospective customers.”
The history of Bluff has been one of the success stories of the poker industry. Starting out as a bimonthly magazine in 2004, within a year it was published on a monthly basis. The magazine became the primary challenger to one of the venerable poker publications in the industry, CardPlayer Magazine, and also has been a partner with the World Series of Poker for its online and radio coverage.
The new partnership will be a way for one of the most recognizable names in the thoroughbred industry to enter into any potential U. S. online poker industry. The owners of the namesake racetrack which hosts the Kentucky Derby, the company also has interests in other racetracks around the United States, its own website (twinspires.com), and half-ownership in Horse Racing TV, among other items. Prior to the announcement of the purchase on Friday, Churchill Downs, Inc. closed at $55.87 on the NASDAQ exchange, a $.44 drop (.78%) from their Thursday price. (Credit: Poker News Daily)
WPT Lucky Hearts Poker Open Day 1A: Uri Kadosh, Eliyahu Levy Lead Jason Mercier...
The first of two Day Ones is in the books for the World Poker Tour’s Seminole Hard Rock Lucky Hearts Poker Open in Hollywood, Florida, with a cozy starting field that should get larger after Saturday’s play.
125 players stepped up on Day 1A, putting up their $3500 buy in for this non-televised event and, although the field was a bit smaller, there were still challenges around the room. Season Ten Player of the Year leader Will “The Thrill” Failla, reigning POY Andy Frankenberger, Jonathan Little, “The Raw Deal” host Tony “Bond_18” Dunst, Shaun Deeb and Matt Waxman were just a few of the familiar faces at the start of the day, but they would be joined by other challengers who decided to take a late registration option.
One of those tables was particularly challenging. Noah Schwartz, Christian Harder and Matt Stout all ended up on the same felt due to late registration for the tournament, while other players went about their day of work with different results. Christopher Tryba was an early casualty when his pocket Jacks failed to catch against an opponent’s pocket Aces, but former WPT champion Rhynie Campbell was able to drop Steve Levy when his Aces stood up against Levy’s K-Q.
As the players worked their way to the dinner break, the field was dramatically reduced in comparison to the time played and the low blinds. From the 125 starters, only 96 players made their way to dinner in a somewhat happy mood. Campbell was one of these eliminations at the hands of Deeb.
It was thought that this pace couldn’t be maintained but the players actually increased the rate of eliminations as the night wore on. Deeb continued to accumulate chips as, against then-chip leader Matthew O’Donnell, he was able to get O’Donnell to lay his hand down on a 6-5-5-8-9 board to move up to 95K in chips. Dunst was not as fortunate, losing with pocket tens to his opponent’s pocket eights.
The Day 1A chip leader would not be determined until the second to last hand of the night. After a short stack moved all in, Uri Kadosh (who had avoided the limelight for much of the day) made the call and tabled Big Slick against his opponent’s suited 4-2. A four came on the flop but, unfortunately for the short stack, a King was there as well. Once the turn and river didn’t bring another four or a deuce, Kadosh had eliminated his opponent to end the night over the 275K mark and reduce the field to fifty players:
1. Uri Kadosh, 275,500
2. Ely Levy, 218,550
3. Jason Mercier, 176,400
4. Omar Sider, 170,600
5. Nick Avera, 133,200
6. Michael Michnik, 121,100
7. David Tiffenberg, 112,900
8. Shaun Deeb, 112,700
9. Victor Heffesse, 111,900
10. Mike Corbett, 111,300
Other notable names that are above the average chip count (44,347) include Shannon Shorr, Matt Giannetti, Schwartz and Waxman, while Allen Kessler and Failla will have some work to do on Sunday.
Perhaps the reason for the high knockout rate on Friday was the “second chance” option the Lucky Hearts tournament provided. For those players who were eliminated on Day 1A, they could buy in again on Day 1B and take a second shot. Several players, including Todd Terry, Kathy Liebert (who commented over Twitter, “I’m on Level 3 today, I think that’s better than Level 1!”), Dunst, Little and Lichtenberger have decided to step up for that second barrel.
By the end of action on Saturday, the total field size as well as the payouts will be known for this latest WPT event. Befitting the tournament’s name, the final table will be played out on Tuesday (Valentine’s Day) and will definitely award the champion with an excellent six figure score. (Credit: Poker News Daily)
Russia’s Rinat Bogdanov Wins WPT Venice Grand Prix...
Battling through a twelve hour final table – as well as the uber-aggressive opponents surrounding him – Russia’s Rinat Bogdanov emerged as the champion of the World Poker Tour Venice Grand Prix early Saturday morning (Venice time).
When the final six men came to the table on Friday afternoon, Italy’s very own Andrea Dato held the lead with his 1.591 million chip stack. This provided him with a good lead over two other contenders, Day Three chip leader Simon Ravnsbaek (922K) and Bogdanov (905K), while the other three members of the final table – Alessandro Longobardi (558K), Andrea Carini (347K) and Gianluca Trebbi (343K) – had their work cut out for them if they were to make a run at the championship.
From the start, Ravnsbaek and Dato were the major players on the felt, pushing their shorter stacked opponents around and adding to their chip stacks. The duo would even clash with each other, with Ravnsbaek coming out on the worse end of a couple of exchanges to chop his stack from second place to fifth within the first hour of action.
After another hour of play, the first elimination would occur. After Dato raised the pot to 50K, Carini pushed his remaining chips to the center of the felt. After Dato made the call and tabled pocket eights, Carini saw that his chances were slim with an off suit A-3. By the turn, he had a gutshot straight draw to go with his Ace, but couldn’t find either on the river, eliminating Andrea Carini in sixth place.
Following Carini’s elimination, Ravnsbaek began to mount a comeback. He doubled up through Longobardi when his pocket Aces were the cooler to Longobardi’s pocket tens, then would take over the lead when he doubled again with A-Q versus Dato’s pocket eights. After three hours of play, Ravnsbaek had been from the penthouse to the basement and back again, holding a slim 200K chip lead over Dato that, unfortunately, wouldn’t last very long.
After moving all in on several occasions, Gianluca Trebbi was eliminated in fifth place when his 10-7 of hearts failed to catch against Longobardi’s pocket Jacks. Ravnsbaek’s aggressive play finally caught up with him when he pushed all in for 600K with pocket deuces and Bogdanov looked to see pocket tens in his hole cards. Once the board ran with no help for him, Ravnsbaek was out of the tournament in fourth place.
By the time the dinner break rolled around, Dato had moved back into the lead over Longobardi and Bogdanov, with the Russian’s chip stack shrinking in comparison to his two foes. Dato and Longobardi went to battle following dinner, with Dato picking up a big pot on a complete bluff to push his stack to the three million mark and drop Longobardi to just over one million.
It was at this time that Bogdanov began his charge. Basically pushing with any two cards, Bogdanov would find a double through Dato to get back into the mix. After picking up a big hand against Longobardi, the three players were virtually equal in chips.
Bogdanov would make the first breakthrough, resulting in the elimination of Dato. After Dato jammed with an unassuming K-4 off suit, Bogdanov found Big Slick in his hand and made the call. An Ace on the flop basically ended the hand and, once a blank came on the turn, Andrea Dato was out in third place and Rinat Bogdanov became the surprising chip leader.
Within two hands of Dato’s departure, the tournament was over. After losing the first hand, Longobardi raised it to 200K holding an off suit K-Q and Bogdanov made the call with only a 6-4. Longobardi caught a Queen on the flop, but there was a four there as well and Bogdanov called a bet from Longobardi. When a six came on the turn, Bogdanov made two pair and check called another bet from Longobardi. Another four on the river brought the fireworks as, after Bogdanov checked, Longobardi fired off 300K. Bogdanov moved all in and, after a moment, Longobardi made the call, only to see his Queens up vanquished by Bogdanov’s full boat.
1. Rinat Bogdanov, €229,800
2. Alessandro Longobardi, €111,700
3. Andrea Dato, €72,275
4. Simon Ravnsbaek, €52,565
5. Gianluca Trebbi, €42,705
6. Andrea Carini, €32,195
With the end of the WPT Venice Grand Prix, the tournament circuit will come back to the U. S. for their next three tournaments. Beginning today, the Seminole Hard Rock Lucky Hearts Poker Open is in action while, later in the month, the L. A. Poker Classic will be contested. In March, the WPT will visit San Jose, California, for the Bay 101 Shooting Star and, in April, the WPT will head back to Europe with a stop in Montesino, Vienna, Austria. (Credit: Poker News Daily)
2012 WPT Venice Grand Prix Day 3: Simon Ravnsbaek Leads Tight Final Nine...
It is going to be a short day at the World Poker Tour (WPT) Venice Grand Prix on Thursday. If this wasn’t the World Poker Tour, the nine players remaining might be going to bed mentally preparing for Day 4’s final table action. But this is, in fact, the WPT, and final tables here are six-handed, so Day 4 will see just three eliminations before adjourning. Bagging up the most chips at the end of Day 3 was Denmark’s Simon Ravnsbaek, proud owner of a 795,000 chip stack.
Ravnsbaek isn’t on an island, though. Alessandro Longobardi is right behind with 783,000, Andrea Dato is close with 726,000, and Jason Wheeler is sitting on a stack of 699,000 chips. In fact, it looks like it could still be just about anybody’s tournament, as all but two players have over 400,000 chips. And those two players – Rinat Bogdanov and Massimo Mosele – have 20 and 16 big blinds, respectively, so it’s not like they are already at “all-in with any two cards” mode…yet.
The story of Day 3 was arguably the fireworks that surrounded the chip leader going into the day, Marcel Bjerkmann. The fun started on the bubble when the tight Lionel Tran moved all-in for his last 50,000 chips with pocket Kings. Bjerkmann had tons of chips, so why not call with J-4 suited? Tran was still doing alright after the flop of J-T-8 rainbow, but another Jack on the turn allowed the chip leader to suckout and put everyone remaining into the money.
A little while later, after Bjerkmann had been moved to an aggressive table, he four-bet shoved on Simon Ravnsbaek with just A-4. Ravnsbaek made the call with Q-Q and doubled-up to about 330,000 chips. Bjerkmann was still doing fine, though, falling to 460,000.
After the next break, things got crazy. James Akenhead raised to 8,500 pre-flop and was called by Andrea Dato, Marcel Bjerkmann, and one other player. Upon the Qc-8h-7s flop, the players check to Dato, who bets 15,000. Bjerkmann decided to go with a check-raise to 44,000, forcing the other two players to fold before Dato called. The dealer laid out the 8d on the turn, prompting a 64,000 chip bet from Bjerkmann and another call by Dato. Bjerkmann again led out on the river for 82,000 when the 4h was dealt. Dato proceeded to ponder his move for two full minutes before calling.
As he was the original bettor, Bjerkmann had to show first, revealing he was on a complete bluff with just 5c-9c. Dato must certainly have had that beat, but it almost must have been a tough decision to call, considering how long he took to act. Right? Not quite. Dato flipped over pocket 7’s for the full house.
Bjerkmann was incensed. “That is the sickest slow roll I have ever had in my life,” he growled at Dato. “Do not talk to me dude. If you see me in the street do not talk to me.”
Undeterred, Bjerkmann kept on plugging away, but that didn’t mean he was calm. He continued to jaw at Dato throughout the night, regardless of whether or not the two were involved in a pot together (they were on more than one occasion). Eventually he succumbed to the current chip leader, Simon Ravnsbaek, as his Ah-8h could not improve against pocket 5’s.
Play will resume at 1:00pm local time as the tournament makes it down to the final table. Again, it should be a short day, as only three more players must be eliminated for that to happen.
2012 WPT Venice Grand Prix – End of Day 3 Chip Counts
Simon Ravnsbaek: 795,000
Alessandro Longobardi: 783,000
Andrea Dato: 726,000
Jason Wheeler: 699,000
Gianluca Trebbi: 474,000
Andrea Carini: 430,000
Jeremie Sochet: 402,000
Rinat Bogdanov: 201,000
Massimo Mosele: 163,000 (Credit: Poker News Daily)
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Sunday, February 05, 2012
Saturday, February 04, 2012
Poker News Media: Qatar pays record $250m for Cezanne - 5th February 2012
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OIL-RICH Qatar has bought Paul Cezanne's painting The Card Players for more than $250 million, by far the highest price yet paid for a work of art.
Previously, a Jackson Pollock - No. 5, 1948 - held the record, sold for $140 million in pre-recessionary 2006.
Vanity Fair magazine points out that only four other versions of Card Players exist - Cezanne painted them as a series in the 1890s. They are all housed in world-class museums, including the Musee d'Orsay in Paris and the Metropolitan Museum of Art in New York.
"The purchase is just the latest bid in Qatar's effort to become an international intellectual hub," the magazine wrote, adding that it "upends the modern art market."
According to the Gulf Times, Qatar has the third highest density of millionaires in the world after Singapore and Switzerland.
The sale, which took place last year, was confirmed to the magazine by multiple sources only last week.
Qatar's royal family declined to comment and all other players involved in the sale signed confidentiality agreements.
The Card Players bought by Qatar is one of three that shows two men at a table playing cards.
"$250 million is a fortune," Victor Wiener, a fine-art appraiser told Vanity Fair. ''But you take any art-history course and a Card Players is likely in it. It's a major, major image."
Cezanne inspired Cubism and helped pioneer abstract art, and Picasso called him "the father of us all." (Credit: GNE)
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OIL-RICH Qatar has bought Paul Cezanne's painting The Card Players for more than $250 million, by far the highest price yet paid for a work of art.
Previously, a Jackson Pollock - No. 5, 1948 - held the record, sold for $140 million in pre-recessionary 2006.
Vanity Fair magazine points out that only four other versions of Card Players exist - Cezanne painted them as a series in the 1890s. They are all housed in world-class museums, including the Musee d'Orsay in Paris and the Metropolitan Museum of Art in New York.
"The purchase is just the latest bid in Qatar's effort to become an international intellectual hub," the magazine wrote, adding that it "upends the modern art market."
According to the Gulf Times, Qatar has the third highest density of millionaires in the world after Singapore and Switzerland.
The sale, which took place last year, was confirmed to the magazine by multiple sources only last week.
Qatar's royal family declined to comment and all other players involved in the sale signed confidentiality agreements.
The Card Players bought by Qatar is one of three that shows two men at a table playing cards.
"$250 million is a fortune," Victor Wiener, a fine-art appraiser told Vanity Fair. ''But you take any art-history course and a Card Players is likely in it. It's a major, major image."
Cezanne inspired Cubism and helped pioneer abstract art, and Picasso called him "the father of us all." (Credit: GNE)
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Sunday, January 29, 2012
Bwin.Party Digital Entertainment CEO Sees Legal Online Gaming In US Soon
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Legalized online gambling in the U.S. is now a case of 'when', not 'if', Bwin.Party Digital Entertainment PLC (BPTY.LN) Co-CEO Jim Ryan said Wednesday, adding that he expects the foundations to be laid this year.
But speaking at the ICE online gambling conference in London, the co-chief executive advised that establishing it up will take time.
The process of passing legislation, drawing up regulation, vetting and licensing operators will likely last through 2012, he said, and he speculates that actual operations likely won't happen before next year.
Partygaming, which last year merged with Austrian peer Bwin to form Bwin.Party Digital Entertainment, along with other European operators withdrew from the U.S. market in 2006 shortly after then-President George W. Bush signed a bill designed to prohibit U.S. banks and credit card companies from processing payments to gambling websites.
Partygaming paid a $105 million fine as part of a non-prosecution deal with the DOJ (Department Of Justice) in 2009, for admitting indirect contravention of US law, but in anticipation of a relaxation of the rules, Bwin.Party last year inked a joint venture with U.S. casino operators MGM and Boyd to operate online gaming if and when it became legal in the U.S.
Ryan's confidence comes after a recent ruling by the U.S. Department of Justice, which clarifies the scope of the Wire Act, a law that in the past has been used stop online gambling sites. The ruling essentially gives U.S. states the green light to allow gambling within their borders, according to online gambling experts.
Still, Ryan said this doesn't mean the company is in line to recoup any of the $105 million fine.
Bwin.Party and its joint venture partners have already applied for a preliminary suitability review in Nevada which will lay the groundwork for gaining a license there once regulation is agreed.
Ryan also told the press the sale process for its Ongame poker network is very advanced and he expects to be able to announce further news in the not too distant future.
He confirmed recent reports that the company is looking for an executive to head up its payments processing division CQR with a view to ultimately taking it public, but said this was several years away.
He said the company wants to expand its online payments operations outside of the gambling sector to build an online merchant market place, increasing the value of this asset and ultimately realising shareholder value by listing it on the stock market.
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Legalized online gambling in the U.S. is now a case of 'when', not 'if', Bwin.Party Digital Entertainment PLC (BPTY.LN) Co-CEO Jim Ryan said Wednesday, adding that he expects the foundations to be laid this year.
But speaking at the ICE online gambling conference in London, the co-chief executive advised that establishing it up will take time.
The process of passing legislation, drawing up regulation, vetting and licensing operators will likely last through 2012, he said, and he speculates that actual operations likely won't happen before next year.
Partygaming, which last year merged with Austrian peer Bwin to form Bwin.Party Digital Entertainment, along with other European operators withdrew from the U.S. market in 2006 shortly after then-President George W. Bush signed a bill designed to prohibit U.S. banks and credit card companies from processing payments to gambling websites.
Partygaming paid a $105 million fine as part of a non-prosecution deal with the DOJ (Department Of Justice) in 2009, for admitting indirect contravention of US law, but in anticipation of a relaxation of the rules, Bwin.Party last year inked a joint venture with U.S. casino operators MGM and Boyd to operate online gaming if and when it became legal in the U.S.
Ryan's confidence comes after a recent ruling by the U.S. Department of Justice, which clarifies the scope of the Wire Act, a law that in the past has been used stop online gambling sites. The ruling essentially gives U.S. states the green light to allow gambling within their borders, according to online gambling experts.
Still, Ryan said this doesn't mean the company is in line to recoup any of the $105 million fine.
Bwin.Party and its joint venture partners have already applied for a preliminary suitability review in Nevada which will lay the groundwork for gaining a license there once regulation is agreed.
Ryan also told the press the sale process for its Ongame poker network is very advanced and he expects to be able to announce further news in the not too distant future.
He confirmed recent reports that the company is looking for an executive to head up its payments processing division CQR with a view to ultimately taking it public, but said this was several years away.
He said the company wants to expand its online payments operations outside of the gambling sector to build an online merchant market place, increasing the value of this asset and ultimately realising shareholder value by listing it on the stock market.
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Week 4: 00:00 ET Sat 25th - 23:59 ET Sun 26th Feb
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Earn points playing on Saturday - but don’t stop there! Make sure you come back and play on Sunday to guarantee yourself the biggest reward. We’ll pump up your prize to colossal proportions when you earn points on both days.
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PartyCasino.com is the place to be at the weekend!
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Saturday, January 28, 2012
Aussie Millions At Crown Casino, Melbourne: Phil Ivey Wins 2012 Aussie Millions $250,000 Super High Roller
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James Packer’s Crown Casino continues to host the annual Aussie Millions Poker Championships. Here's the latest on one of the world's most prestigious poker tournaments.
The 2012 Aussie Millions $250,000 Super High Roller commenced on Saturday and went till the wee hours of the morning on Sunday.
Phil Ivey snatched the $2,000,000 first-place prize after defeating Patrik Antonius heads up.
The last live tourney Ivey showed for was back in November for the APPT Macau, but there was no win back then.
First, he placed 12th in the Main Event for $100,000, and then went on to get the largest score of his career by winning the Super High Roller.
The event attracted 16 players, and they all had to buy in with 6 figures - no misprint. The top three spots were set to be paid and a bubble of $800,000.
Among the stars taking part in the event were last year's champion Erik Seidel, last year's runner-up Sam Trickett, Tom Dwan, Jason Mercier, John Juanda and Sorel Mizzi. In addition, the event had a handful of businessmen including Richard Yong, Paul Phua and Winfred Yu.
The first player eliminated was Dwan, who went down at the hands of Gus Hansen. After the elimination of Nick Wong, Seidel busted during Level 5. He exited thanks to $100,000 Challenge winner Dan Smith after his pocket eights couldn't overcome Smith's jacks.
After Yu got out in sixth place and Mizzi in fifth, the largest bubble of the year was set to take place. The two players joining Ivey and Antonius were Daniel Negreanu and Gus Hansen. From that bunch, the only man not doing so well was Negreanu, who turned out to be the bubble boy.
On his final hand, Negreanu was all in from the big blind with the during the 5,000/50,000/5,000 level for around 750,000 after Antonius raised to 100,000 from the button. Antonius called holding two jacks and was able to hold up as the board ran out .
Hansen was the next to go down, collecting $800,000 for his finish after getting all in on the flop with the against Ivey's. Ivey built to full house and then the river completed the board.
When heads-up play began, Ivey held a slight lead with 2.2 million in chips to Antonius' 1.8 million. He won a big pot about 45 minutes into the match to extend his lead to 7:1 before the final hand came up.
Antonius was eliminated in second place. For his runner-up finish, Antonius snatched $1,200,000.
With his win, Ivey leaps over Negreanu into second place on the all-time money list. Even with his long absence from tournaments, Ivey performed awesomely at Aussie Millions. Many think Ivey is the greatest player in the world.
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Thursday, January 26, 2012
Poker News Media: PartyCasino VS Virgin Casino iGaming "war" continues
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PartyCasino.com - Accepts Canadian, Australian and New Zealand players. PartyCasino new players get up to $3000 sign up bonus. Bwin.Party Digital Entertainment is the world's largest and most succesful igaming company.
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Sunday, January 22, 2012
Positive Macau Numbers to Drive Melco Crown Entertainment and MGM Resorts This Earnings Season - 19th January 2012
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Five Star Equities Provides Stock Research on Melco Crown Entertainment & MGM Resorts...
NEW YORK, NY, Jan 19, 2012 - Casino stocks have been on the upswing this week as positive news out of China helped drive shares of gaming companies with a heavy presence in Macau higher. China said its economy grew by 8.9 percent in the fourth quarter, which was slower than the previous quarter. Analysts, however, consider these levels "robust," the Associated Press reports. Five Star Equities examines the outlook for the Resorts and Casinos Industry and provides equity research on Melco Crown Entertainment Ltd. MPEL +0.27% and MGM Resorts International MGM -0.39%.
According to data published by the Macau Gaming Inspection and Coordination Bureau (GICB), gross gaming and gambling revenues in Macau totalled 269.058 billion patacas (US$33.632 billion) in 2011. MacauHub.com reports that revenues in 2011 were an almost five-fold increase on revenues in 2006 (57.521 billion patacas). Revenues also jumped from 189.588 million patacas in 2010.
By the end of 2011, there were 34 casinos in Macau, 20 of which were owned by Sociedade de Jogos de Macau, three by Venetian Macau, five by Galaxy Casino, three by Melco/PBL Jogos (Macau) and one each by Wynn Resorts and MGM Grand Paradise.
A recent article from Forbes helps explain why Macau continues to grow at such a rapid pace. For example, Macau has initiated a series of initiatives to encourage visitors, Forbes reports. The tiny island investing in new transportation links to ease travel for Chinese visitors. Now, a new railway line connects Macau to Guangzhou in China and a new road bridge links it to Hong Kong.
With China's middle class continuing to expand, Forbes highlights an increase in disposable income in China's population, which is driving the growth of mass market in Macau.
Melco seeking Studio City loan...
Local gaming operator Melco Crown Entertainment is in negotiations with banks to try to raise up to MOP 16 billion in debt to fund the development of long-delayed Macao Studio City project.
According to sources quoted by Bloomberg, the Hong Kong-listed company is seeking a loan of around USD 1.5 billion (MOP 12 billion) and will also issue bonds worth USD 1 billion (MOP 4 billion), Reuters adds Melco is currently negotiating with banks to ensure the financing, in case there are not enough takers. The company is about three to four weeks away from hiring banks, sources said.
A source claims the debt will be used to build up Macao Studio City. Last year Melco Crown’s co-chairman Lawrence Ho Yau Lung said the operator would invest USD 1.7 billion (MOP 13.6 billion) in the development of the Cotai project. He added that construction would commence in 2012 and the property may open in 2015.
But there is still no word on whether Studio City will have a casino. On Wednesday the secretary for Transport and Public Works, Lau Si Io, told lawmakers the introduction of a gaming space at the project has not yet been approved.
“And in order to make it a reality, of course, we would need the necessary gaming tables to make the project financially viable for us,” Ho acknowledged last August. The son of ailing tycoon Stanley Ho Hung Sun said he was confident of gaining authorities’ support.
“Before we even undertook investing in the Macao Studio City project, we had dialogue and communication with various levels of the Macau Government and they have been very supportive throughout the way,” Ho said.
Melco and the other five gaming operators all climbed in Hong Kong trading yesterday on expectations they will benefit from more mainland China visitors during the coming Lunar New Year holiday.
“Investors are expecting the footfall in Macau casinos to rise during the Chinese New Year,” said Edwin Fan, an analyst with Bank of China International in Hong Kong, quoted by Bloomberg.
But the holiday period will come too soon for new resort Sands Cotai Central, which will open “between March 22 and 27,” wrote HSBC Global Research’s Sean Monaghan in an investors note.
The analyst, quoted by Macau Business, believes the resort will account for 28 percent of Sands China’s earnings for 2013.
Melco Crown Jumps to Two-Month High in U.S. on Loan Speculation...
Melco Crown Entertainment Ltd. rose to a two-month high in U.S. trading on speculation the Macau casino venture between billionaires Stanley Ho and James Packer is seeking a loan to fund the development of a new project.
American depositary receipts of Melco gained 3.2 percent to $11.18 by 10:41 a.m. in New York, the highest intraday level since Nov. 9. The ADRs, each representing three common shares in the Hong Kong-based company, have increased 6.2 percent over the past three days.
Melco Crown approached banks to finance its Studio City project in the former Portuguese colony city that is the only place in China where public gambling is allowed, according to four people familiar with the matter who asked not to be identified as the details are private. The loan may be about $1.25 billion, two of the people said.
Studio City will be an integrated resort with a “theme and demographic focus” aimed at differentiating it from the company’s existing portfolio of assets, according to Melco Crown’s website. The company is about three to four weeks away from hiring banks, the people said.
Melco Crown’s shares gained 2.2 percent earlier today in Hong Kong to HK$28.15, the equivalent of $3.63 per share. The ADRs are trading at a 2.7 percent premium over the Hong Kong stock.
MGM China Leads Gains in Macau Casinos Ahead of New Year Holiday...
MGM China Holdings Ltd. and Galaxy Entertainment Group Ltd. led gains in Macau casino operators on expectations they will benefit from more mainland China visitors during the coming Lunar New Year holiday.
MGM China advanced as much as 6.9 percent to HK$11.48, the highest intraday level since Nov. 9, before trading at HK$11.38 at 11:34 a.m. in Hong Kong. Galaxy Entertainment climbed as much as 5.8 percent, its biggest intraday gain since Dec. 1.
The week-long Lunar New Year holiday kicks off on Jan 23 and tourists from mainland China tend to boost gambling and shopping revenue in Hong Kong and Macau during that period.
“Investors are expecting the footfall in Macau casinos to rise during the Chinese New Year,” said Edwin Fan, an analyst with Bank of China International in Hong Kong.
Casino revenue in Macau, the world’s largest gambling hub, rose 25 percent in December to 23.6 billion patacas ($3 billion), as Chinese tourists spent more. Chinese gamblers have fueled growth in the former Portuguese colony, where gambling sales have more than tripled in the past four years.
Wynn Macau Ltd. rose as much as 5 percent and Melco Crown Entertainment Ltd. as much as 3 percent.
Sands China Ltd., the Hong Kong-listed unit of billionaire Sheldon Adelson’s Las Vegas-based company, climbed as much as 4.4 percent. SJM Holdings Ltd., Asia’s biggest casino operator by revenue, gained as much as 3.4 percent.
Packer eyes another big investment in Perth casino, as Chinese tourism soars...
Gaming billionaire James Packer is believed to be eyeing another massive investment in Crown's casino in Perth, talking with the state Government about acquiring land for a new hotel and entertainment complex.
According to the Australian Financial Review, Western Australia Premier Colin Barnett is supportive of the idea of another hotel for the listed company.
The report follows the casino group's decisions to change the casino's name from Burswood to Crown Perth, and Packer's comments he wanted to do more build up more attractions such as golf course in the city.
Sources close to the project expect Crown to invest under $1 billion, the paper says.
Housing Industry Association chief economist Harley Dale says commercial has outperformed residential property in the aftermath of the global financial crisis.
"If you were to generalise, you'd say commercial has outperformed there and it's reasonable to take this as another vote of confidence in the medium-term outlook in the WA economy as a whole," Dale says.
Dale says there are signs that hotels, warehouses and the office sector have good growth outlooks, he says.
"At the same time, you seem to continue getting these ticks in the box for aggregate economic conditions in WA, but there are a lot of sectors – such as residential – that are losing out."
Packer last year raised eyebrows by saying Australians over-estimated the effectiveness of their tourism campaigns, and risked ignoring the emerging Asian middle-class.
The Crown Perth plans come as official tourism figures show short-term arrival figures were up 0.8% in the year to November but short-term resident departures soared 8.1% over the same period.
The Australian Bureau of Statistics figures, released yesterday, show that the number of tourists from China rose by 19.7% in the year to November 2011, followed by a 6.3% rise from India, a 3.2% rise from New Zealand and a 1.1% rise from Singapore.
Conversely, tourist numbers from the United Kingdom fell by 6.5%, 5% from the United States, 8.8% from Korea and 9.9% from Japan.
You bet, internet gambling on the rise...
Internet gambling is on the rise, with convenience and accessibility contributing to its popularity, research has found.
The findings follow the largest survey of internet gamblers to date in Australia with more than 6680 people participating in the self-selected, online questionnaire.
Dr Sally Gainsbury, from Southern Cross University’s Centre for Gambling Education and Research, said internet gamblers had significantly more positive attitudes towards gambling.
“People appear to be gravitating towards online gambling because of the availability and the convenience,” she said.
“It can be accessed anytime, anywhere.
“But for people with existing gambling problems, internet gambling may create additional risks.”
Dr Gainsbury said overall the research showed internet gamblers were not more likely to be problem gamblers but they did appear to be at higher risk of developing problems.
She said internet gambling posed particular risks to players; it was constantly available and people could play online in private with relative anonymity.
More than half of the 450 problem internet gamblers responding to the survey said the use of credit cards or internet bank transfers increased the amount they spent compared to less than one in 10 of the 2270 non-problem internet gamblers.
Southern Cross University and the University of Sydney conducted the research.
Anita Hartley at Mission Australia’s North Coast Gambling Counselling Service is not surprised by the research findings.
“Our service is seeing a steady increase of people with online gambling issues and it is a real concern,” she said.
Ms Hartley said she had seen first-hand that it did appear to target the vulnerable.
She said we needed a strong approach to work out sensible safeguards for people, including good government regulation.
“We would encourage the Australian government to take a leading role in influencing the design of global consumer protection standards while online gaming is still in its infancy,” Ms Hartley said.
Internet gambling’s popularity has soared in the past few years with trends indicating an increasing number of people starting to gamble online.
More than half of the survey participants started gambling online from around 2006.
Mission Australia recognises while Australia has a ban on online gaming, Australians can gamble using offshore websites.
“While we do not wish to see a proliferation of online gaming in Australia, we also recognise that a well regulated Australian industry could help to reduce the impact of unscrupulous overseas providers,” Ms Hartley said.
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Casino Casinos World Casino Directory James Packer Melco Crown City of Dreams Altira Macau Lawrence Ho Gaming Crown Casino Asia Asian Gaming Australian Casinos
Five Star Equities Provides Stock Research on Melco Crown Entertainment & MGM Resorts...
NEW YORK, NY, Jan 19, 2012 - Casino stocks have been on the upswing this week as positive news out of China helped drive shares of gaming companies with a heavy presence in Macau higher. China said its economy grew by 8.9 percent in the fourth quarter, which was slower than the previous quarter. Analysts, however, consider these levels "robust," the Associated Press reports. Five Star Equities examines the outlook for the Resorts and Casinos Industry and provides equity research on Melco Crown Entertainment Ltd. MPEL +0.27% and MGM Resorts International MGM -0.39%.
According to data published by the Macau Gaming Inspection and Coordination Bureau (GICB), gross gaming and gambling revenues in Macau totalled 269.058 billion patacas (US$33.632 billion) in 2011. MacauHub.com reports that revenues in 2011 were an almost five-fold increase on revenues in 2006 (57.521 billion patacas). Revenues also jumped from 189.588 million patacas in 2010.
By the end of 2011, there were 34 casinos in Macau, 20 of which were owned by Sociedade de Jogos de Macau, three by Venetian Macau, five by Galaxy Casino, three by Melco/PBL Jogos (Macau) and one each by Wynn Resorts and MGM Grand Paradise.
A recent article from Forbes helps explain why Macau continues to grow at such a rapid pace. For example, Macau has initiated a series of initiatives to encourage visitors, Forbes reports. The tiny island investing in new transportation links to ease travel for Chinese visitors. Now, a new railway line connects Macau to Guangzhou in China and a new road bridge links it to Hong Kong.
With China's middle class continuing to expand, Forbes highlights an increase in disposable income in China's population, which is driving the growth of mass market in Macau.
Melco seeking Studio City loan...
Local gaming operator Melco Crown Entertainment is in negotiations with banks to try to raise up to MOP 16 billion in debt to fund the development of long-delayed Macao Studio City project.
According to sources quoted by Bloomberg, the Hong Kong-listed company is seeking a loan of around USD 1.5 billion (MOP 12 billion) and will also issue bonds worth USD 1 billion (MOP 4 billion), Reuters adds Melco is currently negotiating with banks to ensure the financing, in case there are not enough takers. The company is about three to four weeks away from hiring banks, sources said.
A source claims the debt will be used to build up Macao Studio City. Last year Melco Crown’s co-chairman Lawrence Ho Yau Lung said the operator would invest USD 1.7 billion (MOP 13.6 billion) in the development of the Cotai project. He added that construction would commence in 2012 and the property may open in 2015.
But there is still no word on whether Studio City will have a casino. On Wednesday the secretary for Transport and Public Works, Lau Si Io, told lawmakers the introduction of a gaming space at the project has not yet been approved.
“And in order to make it a reality, of course, we would need the necessary gaming tables to make the project financially viable for us,” Ho acknowledged last August. The son of ailing tycoon Stanley Ho Hung Sun said he was confident of gaining authorities’ support.
“Before we even undertook investing in the Macao Studio City project, we had dialogue and communication with various levels of the Macau Government and they have been very supportive throughout the way,” Ho said.
Melco and the other five gaming operators all climbed in Hong Kong trading yesterday on expectations they will benefit from more mainland China visitors during the coming Lunar New Year holiday.
“Investors are expecting the footfall in Macau casinos to rise during the Chinese New Year,” said Edwin Fan, an analyst with Bank of China International in Hong Kong, quoted by Bloomberg.
But the holiday period will come too soon for new resort Sands Cotai Central, which will open “between March 22 and 27,” wrote HSBC Global Research’s Sean Monaghan in an investors note.
The analyst, quoted by Macau Business, believes the resort will account for 28 percent of Sands China’s earnings for 2013.
Melco Crown Jumps to Two-Month High in U.S. on Loan Speculation...
Melco Crown Entertainment Ltd. rose to a two-month high in U.S. trading on speculation the Macau casino venture between billionaires Stanley Ho and James Packer is seeking a loan to fund the development of a new project.
American depositary receipts of Melco gained 3.2 percent to $11.18 by 10:41 a.m. in New York, the highest intraday level since Nov. 9. The ADRs, each representing three common shares in the Hong Kong-based company, have increased 6.2 percent over the past three days.
Melco Crown approached banks to finance its Studio City project in the former Portuguese colony city that is the only place in China where public gambling is allowed, according to four people familiar with the matter who asked not to be identified as the details are private. The loan may be about $1.25 billion, two of the people said.
Studio City will be an integrated resort with a “theme and demographic focus” aimed at differentiating it from the company’s existing portfolio of assets, according to Melco Crown’s website. The company is about three to four weeks away from hiring banks, the people said.
Melco Crown’s shares gained 2.2 percent earlier today in Hong Kong to HK$28.15, the equivalent of $3.63 per share. The ADRs are trading at a 2.7 percent premium over the Hong Kong stock.
MGM China Leads Gains in Macau Casinos Ahead of New Year Holiday...
MGM China Holdings Ltd. and Galaxy Entertainment Group Ltd. led gains in Macau casino operators on expectations they will benefit from more mainland China visitors during the coming Lunar New Year holiday.
MGM China advanced as much as 6.9 percent to HK$11.48, the highest intraday level since Nov. 9, before trading at HK$11.38 at 11:34 a.m. in Hong Kong. Galaxy Entertainment climbed as much as 5.8 percent, its biggest intraday gain since Dec. 1.
The week-long Lunar New Year holiday kicks off on Jan 23 and tourists from mainland China tend to boost gambling and shopping revenue in Hong Kong and Macau during that period.
“Investors are expecting the footfall in Macau casinos to rise during the Chinese New Year,” said Edwin Fan, an analyst with Bank of China International in Hong Kong.
Casino revenue in Macau, the world’s largest gambling hub, rose 25 percent in December to 23.6 billion patacas ($3 billion), as Chinese tourists spent more. Chinese gamblers have fueled growth in the former Portuguese colony, where gambling sales have more than tripled in the past four years.
Wynn Macau Ltd. rose as much as 5 percent and Melco Crown Entertainment Ltd. as much as 3 percent.
Sands China Ltd., the Hong Kong-listed unit of billionaire Sheldon Adelson’s Las Vegas-based company, climbed as much as 4.4 percent. SJM Holdings Ltd., Asia’s biggest casino operator by revenue, gained as much as 3.4 percent.
Packer eyes another big investment in Perth casino, as Chinese tourism soars...
Gaming billionaire James Packer is believed to be eyeing another massive investment in Crown's casino in Perth, talking with the state Government about acquiring land for a new hotel and entertainment complex.
According to the Australian Financial Review, Western Australia Premier Colin Barnett is supportive of the idea of another hotel for the listed company.
The report follows the casino group's decisions to change the casino's name from Burswood to Crown Perth, and Packer's comments he wanted to do more build up more attractions such as golf course in the city.
Sources close to the project expect Crown to invest under $1 billion, the paper says.
Housing Industry Association chief economist Harley Dale says commercial has outperformed residential property in the aftermath of the global financial crisis.
"If you were to generalise, you'd say commercial has outperformed there and it's reasonable to take this as another vote of confidence in the medium-term outlook in the WA economy as a whole," Dale says.
Dale says there are signs that hotels, warehouses and the office sector have good growth outlooks, he says.
"At the same time, you seem to continue getting these ticks in the box for aggregate economic conditions in WA, but there are a lot of sectors – such as residential – that are losing out."
Packer last year raised eyebrows by saying Australians over-estimated the effectiveness of their tourism campaigns, and risked ignoring the emerging Asian middle-class.
The Crown Perth plans come as official tourism figures show short-term arrival figures were up 0.8% in the year to November but short-term resident departures soared 8.1% over the same period.
The Australian Bureau of Statistics figures, released yesterday, show that the number of tourists from China rose by 19.7% in the year to November 2011, followed by a 6.3% rise from India, a 3.2% rise from New Zealand and a 1.1% rise from Singapore.
Conversely, tourist numbers from the United Kingdom fell by 6.5%, 5% from the United States, 8.8% from Korea and 9.9% from Japan.
You bet, internet gambling on the rise...
Internet gambling is on the rise, with convenience and accessibility contributing to its popularity, research has found.
The findings follow the largest survey of internet gamblers to date in Australia with more than 6680 people participating in the self-selected, online questionnaire.
Dr Sally Gainsbury, from Southern Cross University’s Centre for Gambling Education and Research, said internet gamblers had significantly more positive attitudes towards gambling.
“People appear to be gravitating towards online gambling because of the availability and the convenience,” she said.
“It can be accessed anytime, anywhere.
“But for people with existing gambling problems, internet gambling may create additional risks.”
Dr Gainsbury said overall the research showed internet gamblers were not more likely to be problem gamblers but they did appear to be at higher risk of developing problems.
She said internet gambling posed particular risks to players; it was constantly available and people could play online in private with relative anonymity.
More than half of the 450 problem internet gamblers responding to the survey said the use of credit cards or internet bank transfers increased the amount they spent compared to less than one in 10 of the 2270 non-problem internet gamblers.
Southern Cross University and the University of Sydney conducted the research.
Anita Hartley at Mission Australia’s North Coast Gambling Counselling Service is not surprised by the research findings.
“Our service is seeing a steady increase of people with online gambling issues and it is a real concern,” she said.
Ms Hartley said she had seen first-hand that it did appear to target the vulnerable.
She said we needed a strong approach to work out sensible safeguards for people, including good government regulation.
“We would encourage the Australian government to take a leading role in influencing the design of global consumer protection standards while online gaming is still in its infancy,” Ms Hartley said.
Internet gambling’s popularity has soared in the past few years with trends indicating an increasing number of people starting to gamble online.
More than half of the survey participants started gambling online from around 2006.
Mission Australia recognises while Australia has a ban on online gaming, Australians can gamble using offshore websites.
“While we do not wish to see a proliferation of online gaming in Australia, we also recognise that a well regulated Australian industry could help to reduce the impact of unscrupulous overseas providers,” Ms Hartley said.
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Friday, January 20, 2012
Packer's Melco Crown eyes $2b in new debt - 19th January 2012
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Casino James Packer Melco Crown City of Dreams Altira Macau Lawrence Ho Gaming Crown Casino Australian Casinos
James Packer’s Melco Crown joint venture, one of the six licensed casino operators in Macau, is looking to raise up to $US2 billion ($1.92 billion) in debt to fund a new project in the former Portuguese colony, according to sources.
Proceeds will finance Melco's plans to build Macau Studio City, a $US2.5 billionn-plus gaming and entertainment resort on the developing Cotai strip, said one source.
The debt funding will feature a loan-cum-bond combo with the loan expected to be for around $US1.25 billion and the US dollar bond for the remainder, according to another source. The borrower is in discussions with banks for the loan financing and is seeking underwritten commitments.
Melco's last visit to the loan markets was in May 2011 when it raised $US1.2 billlion through a dual-tranche financing comprising an $US800 million term loan and a $US400 million revolver. The term loan amortises to 50 per cent and has a two-year grace period. The blended average life is 4.1 years.
ANZ, Bank of America Merrill Lynch, Bank of China Macau, Commerzbank and Deutsche Bank were coordinating lead arrangers and bookrunners on the fully underwritten facility. The deal paid top-level blended all-ins of 208-308 basis points over Libor.
In May 2010, Melco raised $US600 million through an eight-year non-call four global bond paying a coupon of 10.5 per cent.
Melco is a joint venture between Mr Packer's Crown and Lawrence Ho, son of the Macau gaming mogul Stanley Ho. Crown has a 33.4 per cent stake in Melco Crown Entertainment, which runs the Altira Macau and City of Dreams casinos.
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