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    QuadJacks Poker and Gaming News | Monday March 26 2012

    Posted by Marco Valerio March 26, 2012

    [video url="http://www.quadjacks.net/wp-content/uploads/2012/03/QJNEWSMarch26.mp3" name="mp3" align="aligncenter" height="46"]
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    Chad Elie pleads guilty after long legal battle: Chad Elie, one of the original eleven men indicted by the Department of Justice on Black Friday, has plead guilty in a Manhattan federal court to conspiracy and deceiving banks, for the purpose of transferring funds to online poker companies Full Tilt Poker, PokerStars and UB.

    This is an important turn in the defense of Elie and co-defendant John Campos. The two payment processors were becoming cult icons of resistance after they disputed the DOJ’s accusations and claimed their innocence under a variety of creative pretexts.

    In court, Elie admitted to U.S. District Judge Lewis Kaplan: “I know that my conduct was wrong.” The maximum sentence for Elie’s crimes is five years in prison, but under his plea agreement, he is more likely to serve between six to twelve months. He is set to be sentenced on October 3.

    Elie is now the fifth person of the eleven defendants to plead guilty since Black Friday, along with Brent Beckley, Ryan Lang, Ira Rubin and Bradley Franzen.

    Sources: Bloomberg News

    Illinois introduces first online lottery: After the Department of Justice released the “DOJ Memo” back in September specifically allaying the online conerns of the New York and Illinois state lotteries, the latter has gone ahead and made lemonade. On Sunday morning, the citizens of Illinois were finally able to purchase individual lottery tickets online. And they did.

    The project is being heralded as a success so far, with as much as $9,000 in sales being reported for the first day alone. Among the principal beneficiaries of this revenue will be the state’s school system and other public works.

    There is as much protest as applause, however. Anita Bedell of Illinois Church Action on Alcohol and Addiction Problems forewarns of the opening of “a whole Pandora’s box nationwide” that will devastate gambling addicts and susceptible youths. A less Biblical but equally substantial fear is that of Jeff Lenard of the National Association of Convenience Stores, who admits “significant concerns” about how ticket-carrying stores will be affected by this.

    According to Lyle Beckwith, Senior Vice President of Government Relations with the NACS, the average convenience store customer who doesn’t buy lottery tickets spends on average $6.29 per visit, while the average customer who buys lottery tickets spends on average $10.35 per visit, with the extra expense on other store items such as sodas and snacks.

    Sources: USA Today, Huffington Post, Maryland Gazette

    Limit of Sheldon Adelson’s influence evidenced by Newt Gingrich fiasco: Sheldon Adelson, Chairman and CEO of the Las Vegas Sands Corporation and, according to Forbes, the seventh richest man in America, became the face of homegrown opposition to online poker in December of last year, when it was reported that the Las Vegas and Macau casino magnate would oppose efforts to legalize online poker in the United States due to concerns about player protection. Jon Ralston, author of the original report, pointed to Adelson’s extensive influence in the U.S. Congress as a primary reason why online poker advocates should be discouraged.

    While Adelson’s technophobia alarmed mostly our own poker community, the man made much wider national headlines at the beginning of this year when he and his family ended up donating approximately $20 million to the presidential campaign of Republican nominee Newt Gingrich.

    Despite a few smatterings of momentum, however, Newt Gingrich’s campaign never really took off, and he is almost a non-person today in the media’s coverage of the Republican presidential contest, as he has won nothing of any real significance after the South Carolina primary in January. Therefore, a new editorial in the Las Vegas sun by J. Patrick Coolican attempts to allocate how these millions upon millions of Adelson’s campaign dollars could have been put to better use.

    This observation may also provide a modicum of relief to those impressionable souls within our battered community who feared that the omnipotent Sheldon Adelson dictated the future of everything. While his wealth and power must certainly be acknowledged, one man’s efforts could not ultimately overcome longer odds. As Coolican puts it: “[Newt's] poll numbers [were] hampered by the thing that has always plagued Gingrich: The American people resoundingly do not like Newt Gingrich.”

    Adelson, however, should not be considered wholly neutralized yet. He has since pledged that he would support whichever Republican candidate, and as it’s now a race between Mitt Romney and Rick Santorum – both of whom have declared staunch opposition to online gaming – the pro-online poker forces must continue to track the movements of Mr. Venetian’s money and associations.

    Sources: Las Vegas Sun 

     

     

     

     

     

     

     

     

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