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    Daily News Update | Wednesday, November 16, 2011

    Posted by Quad Jacks March 14, 2012

    WEDNESDAY, NOVEMBER 16, 2011

    Massachusetts approves casino bill, Ameristar and Caesars immediately show interest: A bill which will allow the licensing of up to three resort-style casinos and a single slots parlor in Massachusetts has been approved by the state House 118-33, and consequently by the state Senate 23-14. The bill is now easily expected to be signed into final approval by Massachusetts governor Deval Patrick (Democrat).

    The bill’s composition was subject to a number of compromises, some of which are still in the process of being settled, according to Governor Patrick. “”We’re still in the process of evaluating the fine print, but the bill seems to conform with the general principles and features that we have discussed and agreed to.”

    Supporters of this bill consider it capable of creating as many as 15,000 jobs in the state, including 6,000 temporary construction jobs, and generate at least $300 million in state revenue. Local pponents of casino gambling, such as former state Attorney General Scott Harshbarger, have contested these figures.

    It was reported today in the Las Vegas Review Journal that Las Vegas-based Ameristar Casinos, Inc. plans to buy 41 acres in Springfield, Mass., for eventual development. The site will cost approximately $16 million. Caesars Entertainment Corp. is also expected to bid on a casino license for the Boston area.
    Sources: Las Vegas Review Journal [1] [2]

    Paddy Power buys out games developer CT. Network Ltd. (Cayetano): Paddy Power, Ireland’s largest bookmaker, has agreed to a deal to buy out CT Networks Ltd., also known as Cayetano, a games developer headquartered in the Isle of Man, with software developing and designing teams in Sofia, Bulgaria. Cayetano’s founding shareholders and management
    team will remain with the company, which has developed a number of online and mobile games.

    In a press release, Patrick Kennedy, Paddy Power’s CEO, said: ““Cayetano is one of the best developers of its kind in the egaming sector and its acquisition will provide Paddy Power with a compelling range of online gaming products as well as a new internal source of gaming development expertise.” Nick Maughan, Cayetano’s CEO, expressed similar satisfaction with the deal.

    In September, Paddy Power was reported to be in the advanced stages of a review to acquire a license by the Nevada Gaming Control Board, which would make it the first European online gaming operator licensed in the United States. Paddy Power has never accepted wagers from American gamblers.
    Sources: Raidió Teilifís Éireann, Paddy Power press release, Las Vegas Review Journal

    Joaquin “Jack” Garcia, decorated former FBI agent, joins FairPlayUSA advisory board: The Caesars/MGM-funded lobbying group FairPlayUSA has announced the introduction of Jack Garcia as the newest member of its advisory board. Mr. Garcia, born in Havana, Cuba, has worked with the FBI for 26 years, specializing in undercover operations, most famously his infiltration into the Gambino crime family. He has been involved in more than 100 undercover operations, and has authored the book Making Jack Falcone – An Undercover FBI Agent Takes Down a Mafia Family.

    Mr. Garcia said of the new engagement: “I’ve seen up close the role that illegal gambling plays in funding a whole host of other criminal activities and the power of the internet has given the problem global reach. I am very pleased to have the opportunity to relate my experiences and contribute to efforts to update the law to address the specific challenges law enforcement faces from illegal Internet gambling operations based offshore.”

    Mr. Garcia joins fellow Board members Greg Raymer, Mike Sexton, former FBI director Louis Freeh, former Secretary of Homeland Secretary Tom Ridge, and cyberlaw and security authority Parry Aftab, who testified at a Congressional hearing on Internet poker in October.
    Sources: FairPlayUSA

    QuadJacks – Wednesday, November 16, 2011

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