FantasyDraft Bails Out Fantasy Aces, Will Spend Player Balances

FantasyDraft Bails Out Fantasy Aces, Will Spend Player Balances

FantasyDraft will rescue the client balances for the stricken and Fantasy that is bankrupt Aces, its CEO announced on Monday on the RotoGrinders DFS forum.

FantasyDraft CEO Steve Krombolz said their company is stepping in so that they can save the ‘lifeblood of this industry.’ The majority that is vast of Aces customers will be paid in cash, while larger balances will likely be topped up with FantasyCash.

FantasyDraft was regarding the verge of acquiring your website last month before it pulled out of the deal citing ‘issues identified during our homework.’ It was a move that quickly propelled Fantasy Aces towards chapter 5 bankruptcy.

Bankruptcy filings quickly revealed the messy truth behind Fantasy Aces’ situation: the organization had unsuccessful to segregate player funds from its operational costs and owed its customers $1.3 million.

An account placed in the filings as ‘Players Account’ contained just $2,419. Whilst the ongoing business listed assets of $1.8 million, that may be liquidated to pay creditors, it stated it had liabilities of $2.96 million.

In short, Fantasy Aces could not pay its customers.

99.6 Percent to Get Money

‘As members regarding the DFS community devoted to doing things the correct way, we feel that we need to do our component to safeguard the lifeblood regarding the industry, you, the players,’ wrote Steve Krombolz, CEO and Co-Founder of FantasyDraft.

‘So, we now have decided to ge Continue reading “FantasyDraft Bails Out Fantasy Aces, Will Spend Player Balances”

Melco Crown Calls Sheldon Adelson’s $10 Billion Bet on Japan, Hard Rock Scrambling for Partners

Melco Crown Calls Sheldon Adelson’s $10 Billion Bet on Japan, Hard Rock Scrambling for Partners

Melco Crown Entertainment won’t be intimidated by Las Vegas Sands billionaire Sheldon Adelson’s comments this week that he’s ready to spend up to $10 billion on building a casino in Japan.

Melco Crown CEO Lawrence Ho says there’s no cap on how much his myfreepokies.com company is willing to spend on an integrated casino resort in Japan.

Hong Kong businessman Lawrence Ho, the billionaire son of Stanley Ho who held a gambling monopoly in Macau for 40 years, told reporters soon after hearing of Adelson’s pledge that his company is prepared to invest even more. During the same investor conference in Tokyo, Ho explained, ‘We’ll absolutely spend whatever we need to win.’

Japan legalized commercial casinos last fall, but hasn’t determined the specific regulations for the newly liberalized industry. The country’s parliament is working to decide how many gambling licenses will be issued, but the general consensus is that just two properties will be authorized.

In a press release unveiling Melco Crown’s integrated resort concepts for Japan, Ho added, ‘There currently is no predetermined cap on our intended investment. I prefer not to constrain our dreams… with price tags, particularly at this early stage.’

Melco Crown Entertainment was founded in 2004 through a partnership between Melco International Development and James Packer’s Australian Crown Resorts.

Between Rock and Hard Place

With Adelson, a man w Continue reading “Melco Crown Calls Sheldon Adelson’s $10 Billion Bet on Japan, Hard Rock Scrambling for Partners”

William Hill’s Largest Shareholder Demands Purchase of Gambling Company

William Hill’s Largest Shareholder Demands Purchase of Gambling Company

William Hill is once again at the center of merger speaks, but this time around the organization’s shareholder that is largest wants it become the target of a takeover.

William Hill is presumably back on the trading blocks after the company’s chief stakeholder reportedly called for the group to locate a buyer that is potential.

Parvus Asset Management, a London-based hedge fund that controls 14.3 percent associated with UK bookmaking and gambling company, is apparently pushing William Hill to simply accept a takeover that is qualified.

According to The Sunday circumstances, A british weekend newspaper, Parvus believes William Hill should turn to be acquired by, or merged with, another leading online gambling firm. Prospective suitors include GVC Holdings, as well as 888 Holdings plus The Rank Group, the two latter free pokies no download no registration which attempted to buy William Hill last summer.

Both Parvus and William Hill declined to comment, but speculation is operating rampant in the UK as a result of the hedge investment’s considerable power.

Founded in 1934 by the business’s namesake, William Hill today employs some 16,000 people. The bookmaker has 2,370 physical betting shops over the UK, which compliments its online gaming network.

Up to Parvus

It was only last October that the investment team publicly blasted William Hill’s potential aligning with Amaya, the company that is canadian-based owners PokerStars.

Parvus said at the time Continue reading “William Hill’s Largest Shareholder Demands Purchase of Gambling Company”

Pennsylvania Sports Betting Bill Introduced, Penn State Football Popular at Sportsbooks

Pennsylvania Sports Betting Bill Introduced, Penn State Football Popular at Sportsbooks

A Pennsylvania sports betting bill has been introduced by State Rep. Rob Matzie (D-District 16) that seeks to allow residents in the Keystone State to place financial wagers on sporting outcomes should a federal law be repealed.

James Franklin’s Penn State football team provided large payouts for fans who backed the Nittany Lions last fall, and a Pennsylvania sports betting bill has been introduced to keep those monies inside the Commonwealth.

House Bill 519 would allow the business of accepting wagers on sporting events or on the individual performance of athletes. Traditional Vegas sports betting formats including straight bets, moneylines, parlays, exchange wagering, and pools would all be authorized. However, Matzie’s bill wouldn’t legalize daily fantasy sports.

‘Sports betting is a $400 billion business in the United States,’ Matzie said in a statement. ‘Most of that betting takes place illegally, through bookies and offshore wagering companies. This bill would position Pennsylvania’s casinos to be among the leaders in sports betting as soon as the legal hurdles are removed.’

Those legal hurdles are complex, as sports betting is currently outlawed in all but Nevada. For that to change, a federal statute passed in 1992, the Professional and Amateur Sports Protection Act (PASPA), would need to be repealed by Congress.

Pennsylvania is currently considering a massive gambling expansion packa Continue reading “Pennsylvania Sports Betting Bill Introduced, Penn State Football Popular at Sportsbooks”

Wisconsin Regular Fantasy Sports Bill Ready for Kickoff

Wisconsin Regular Fantasy Sports Bill Ready for Kickoff

A Wisconsin daily fantasy sports (DFS) will soon make its means back to hawaii capital in Madison should a lawmaker stay true to his word.

Just 31 years old, Wisconsin State Rep. Tyler Vorpagel could be better likely than their legislative seniors at understanding the necessity to regulate daily dream sports.

State Rep. Tyler Vorpagel (R-District 27) revealed his plans this week to renew efforts to classify the online contests as skill-based engagements. The assemblyman believes outcomes of DFS games depend more heavily on a player’s knowledge and skill than pure fortune.

Speaking with a FOX that is local in Milwaukee, Vorpagel said he does not believe DFS constitutes gambling. The politician explained he will soon fully reintroduce legislation to authorize fantasy activities in the Badger State.

The online contests continue to be offered in Wisconsin in the meantime. And though the NFL season is officially over, the two biggest DFS players, DraftKings and FanDuel, are continuing to offer games on baseball, tennis, soccer, and more to Wisconsin natives.

Second Go Around

It ended up being an ago last month that vorpagel first introduced a bill to legalize dfs year.

Assembly Bill 800 sought to force daily dream operators like DraftKings and FanDuel to join up with their state’s Department of banking Institutions. The certification procedure would have come with a https://myfreepokies.com/pokies/ one-time price tag of $150,000, and annual renewal set at Continue reading “Wisconsin Regular Fantasy Sports Bill Ready for Kickoff”