Friday, June 06, 2008

Virgin Casino and Virgin Poker Still #1 With Media Man

Media Man Australia reports that Virgin Games - Virgin Casino - Virgin Poker hold onto their place as the top performing online gaming and casino operation for May 2008.

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Thursday, June 05, 2008

Poker final table, By Sav D’Souza - Molokai Times - 3rd June 2008

The stakes are really hotting up at Paddlers’ Inn. The popular evening poker tournament will culminate in a final tournament Saturday night.

The event started at the end of March and attracted a host of regulars. Some come to sharpen their poker skills, others to beat it out to the final table. Jovial stories of bad beats (unlucky high losing hands) and kindly rivers (landing a great last turned over card) are all part of the laid-back but competitive atmosphere at poker night.

Poker night has become such an institution in the community that now-free Tuesday, Thursday and Saturday evenings will seem something of a void for many.

It’s down to the serious stuff as Molokai’s answer to famous poker players Doyle Brunson and Annie Duke mix it up. From the more than 50 players that have played in the last two months, the final table will host only the top eight Sat. June 7.

Up for grabs at the final table will be a round trip to Las Vegas with two nights stay at the Rio Hotel and a $1,000 buy-in at one of the world poker satellite events, provided courtesy of sponsor Steinlager.

As of May 27, Waika Naki leads the way with 1030 points. He’s followed by Bernice Kalilikane (950); Reyford Stone (930); and Lee Derouin (810). The bottom four are Pete Kamakana, Elizabeth P. Lawrence, Tranq Pascual and Kahealani Maliu. With two nights left before the final standings, those just outside the top eight were hoping to still make it to the final table. Those on top were simply praying to hold on.

The much-anticipated final table will start at 9 p.m. June 7.

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Around the WSOP: Star gazing, voting rights and rebuys, By Vin Narayanan - Casino City Times - 3rd June 2008

Star gazing
Sometimes, you don't recognize a single person at a WSOP table. And sometimes, you see Doyle Brunson, Daniel Negreanu, Isabelle Mercier, Bill Edler, Thomas Keller and Eric Froelich. And that's exactly what happened at Event #4 ($5,000 Mixed Hold'em). But with a field of 332 players including stars like Chad Brown, Freddy Deeb, Eli Elezra, Barry Greenstein, John Hennigan, Phil Ivey, Phil Laak (we could stop name dropping here, but we won't), Ted Lawson, Erick Lindgren, Jeff Madsen, Nenad Medic, Michael Mizrachi, Victor Ramdin, Greg Raymer, Vanessa Rousso, Joe Sebok, Mark Seif and Gavin Smith, you're going to get a few tables like this (especially considering we didn't come close to naming all the top players playing in this event). And if you think busting one of these players out makes table any easier, think again. When Negreanu was forced to the rail, he was replaced at the table by Dewey Tomko.

Voting rights
The next time players at the WSOP vote on something, abstention should not be an option. At 5:45 a.m., with 20 players remaining in Event #2 ($1,500 No Limit Hold'em), the players took a vote on whether to suspend play until later in the afternoon, or keep on playing until a final table was determined. The vote was a tie with several players abstaining. ABSTAINING. Come on poker players. You can't ABSTAIN. It's not a nuclear disarmament agreement. It's poker. When the field was narrowed to 18 players, there was another vote (where apparently, not everyone participated again). But this time, the players voted to suspend play. And for those keeping score at home, Chris Ferguson has made the final 18 of this event. He's currently in 14th place.

Rebuy!
Rebuy tournaments can be fun to watch because players can (and will) go a bit nuts in terms pushing the action because they know they can always rebuy to stay into the tournament. For those of you who think the term nuts is a bit harsh, consider the fact that PokerNews is reporting Phil Ivey was sitting at a table in the $1,000 No-Limit Hold'em with rebuys tournament (Event #5) with $100,000 in casino chips so he continue to rebuy if play warranted it. And at another table, there have already been 58 rebuys. Wow!!

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All bets are off for Packer's Las Vegas casino, by Vanda Carson - The Sydney Morning Herald - 5th June 2008

James Packer's ambitious roll of the dice aimed at creating the world's tallest casino has failed to come up with the right numbers, with financiers failing to support the Las Vegas project.

Crown Ltd, of which Mr Packer owns 38 per cent, yesterday announced that plans to build a $5.2 billion casino with American partners had been thwarted by the global credit crunch.

The decision to pull the plug comes after the plan to transform an empty block of land into a casino and hotel development was effectively put on life support about three months ago.

The partners were forced to call it quits as their option to buy the prime building site on the Las Vegas strip was due to expire at the end of the month. They had previously extended the time given to hand over the final purchase payment several times.

Crown, which had hoped to call the casino Crown Las Vegas, has been forced to write off the $44 million it contributed to the joint venture for the deposit to buy the site from the vendor Archon Corp.

Crown had a 37.5 per cent stake in the joint venture, with partners including a Texan developer Chris Milam and US private-equity firm York Capital Management.

The 11-hectare site was in a prime position on the Las Vegas strip at the northern end, which had been slated for a revival. However, the US sharemarket downturn means this is now under a cloud, with some casinos in Las Vegas laying off staff and others seeing a slowdown in turnover.

Already the owner of the iconic Tropicana casino has filed for bankruptcy and four of the US's largest gambling companies have reported earnings slumps in the previous quarter.

While historically gambling has been unaffected by slumps in discretionary spending, it is no longer immune as it gains almost a third of earnings from hotel, restaurant and entertainment facilities within casino-resorts.

The site that was earmarked for the Crown Las Vegas was a former Wet'n'Wild water amusement park - one of the last non-gambling related entertainment projects within the centre of Las Vegas.

Prior to Crown's investment, the project had received approval for a 142-storey tower known as Las Vegas Tower. However, the US Federal Aviation Administration later forced this to be reduced for fear of causing flight problems with the local airport.

When Mr Milam bought the site two years ago the opportunities to borrow money were much greater and Las Vegas was booming. He said at the time that financing the project would not be a problem.

"There seems to be very little lack of capital in Las Vegas," he reportedly said.

He had hoped to start building by 2007 and to open the casinos doors by 2010.

The failure does not mean that Mr Packer is left without a presence in Las Vegas, as Crown still owns a $300 million stake in a partially-built casino right next door. The Fontainebleau Las Vegas development is on track to open late next year.

Crown also owns three casinos on the outskirts of Las Vegas, which are much more downmarket and cater for local, as opposed to interstate, gamblers.

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Wednesday, June 04, 2008

Crown scraps Las Vegas casino - The Sydney Morning Herald - 4th June 2008

The developers of a $US5 billion ($A5.2 billion) Las Vegas casino have decided to scrap the project due to tight credit markets, one of the developers, Crown Ltd said.

Crown said it would write off its $44 million investment in the project.

Casino firm Crown, owned by billionaire James Packer, along with Texas developer Christopher Milam and private equity firm York Capital Management, had planned to build the tallest tower in Las Vegas as part of the casino complex and 5000-room hotel project.

Crown chief executive Rowen Craigie said following a strategic review it had stopped making payments to the vendors of the former Wet 'n' Wild site at the northern end of Las Vegas's famed Strip.

''The recent upheavals in world credit markets have made it increasingly difficult for Crown and its partners to develop a commercially viable project on what remains an attractive location on the Las Vegas strip,'' Craigie said in a statement.

The move follows reports at the end of March that the development group had failed to find another equity partner to meet its lenders' demands.

Crown shares were up as much as 0.3%, or 3 cents, at $10.45 in early trade.

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Tuesday, June 03, 2008

Casino mogul hosts wounded soldiers in Vegas, By OSKAR GARCIA – May 25, 2008

LAS VEGAS (AP) — All too familiar with the gambles of war, Jimmy Kinsey, Kyle Riley and a few dozen fellow soldiers landed in the desert. But for these guys this Memorial Day, the most at stake is a few bucks.

The soldiers-turned-high rollers took a private jet to Las Vegas over the weekend for an all-expenses-paid getaway with all the perks normally saved for casinos' richest regulars.

They were greeted at the airport by Wayne Newton, chilled backstage with the guys from Blue Man Group and hobnobbed with Sheldon Adelson, the billionaire casino mogul who runs Las Vegas Sands Corp. and paid for the trip.

The trip, organized by the Armed Forces Foundation, brought 40 wounded soldiers from Walter Reed Army Medical Center in Washington and the National Naval Medical Center at Bethesda, Md., to the Venetian Resort Hotel Casino on the Las Vegas Strip.

"I'm gonna be bragging about this for a long while," said Kinsey, 23, while hanging out in his penthouse overlooking the nearby Wynn Golf Course. Each of the soldiers, mostly in their 20s, stayed in a penthouse, and several who came alone got one to themselves.

Kinsey, a Marine corporal from Foley, Ala., who lost part of his left leg to an improvised explosive device in Iraq in 2006, said he hadn't spent too much time gambling — just a few slots.

"On a scale from one to 10 I gave this trip a 15 when I got on the plane," he said.

Riley, a 21-year-old from Catlett, Va., who also lost part of his left leg to an IED in Iraq, was so overwhelmed by the trip he decided with his fiancee, Alyssa Mergler, to make it their wedding weekend. They planned to wed Monday on a gold and white gondola, courtesy of Adelson, whom Mergler said insisted on having his staff handle the plans.

Mergler, 21, said a wedding coordinator showed up at their suite with a thick book of flower choices.

"I don't have the money to do that," said Riley, who asked Kinsey to be his best man.

Armed Forces Foundation officials said the trip was a dream distraction from the everyday life at the hospitals, where the soldiers lived while recovering from their injuries.

Armed Forces Foundation spokesman Doug Stone said the trip would be the first of many, and said Adelson wanted to eventually extend the all-expenses-paid offer to every veteran who had been admitted to the two hospitals.

A spokesman for Adelson said the executive was not available for comment because he was traveling.

On the Net:
Armed Forced Foundation: http://www.armedforcesfoundation.org
Venetian: http://www.venetian.com

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One Way to Help the Troops: Send Them to Vegas - The Wall Street Journal

The war in Iraq war spawned all sorts of charities to help returning soldiers. But Sheldon Adelson, the billionaire casino king, has decided to help the war effort in his own way: by bringing wounded soldiers to Vegas.

According to this Associated Press article by Oskar Garcia, Mr. Adelson brought 40 wounded soldiers from Walter Reed Army Medical Center and the National Naval Medical Center to Vegas for Memorial Day weekend. The soldiers flew out in a private jet, met Wayne Newton at the airport, hung out backstage with the Blue Man Group and got rooms at the Venetian, Mr. Adelson’s mega-casino.

Mr. Adelson picked up the tab for everything, except the gambling.

The soldiers said they loved it: One said that “on a scale of one to 10 I gave this trip a 15 when I got on the plane.”

Kyle Riley, a 21-year-old solider from Catlett, Va., who lost part of his leg to an IED, decided to make the trip his wedding weekend and got married. Mr. Adelson and his staff picked up the cost of that too.

According to the article, Mr. Adelson plans to extend the trip invite to all veterans who have been through Walter Reed or the Naval Medical Center.

Is sending wounded soldiers to Vegas tacky? Maybe. Are there better ways to help the soliders? Probably. But the important thing is that the soldiers enjoyed it.

Mr. Adelson has become a lightning rod for critics of the war, since he’s been a huge supporter. He is one of the richest and most generous Republican donors, and he helped fund a multi-million-dollar media campaign to support the troop surge.

But whatever people think of his politics, at least he’s reaching out to the soliders. While everyone talks about supporting the troops and helping the wounded, Mr. Adelson has backed up his words with actions. He did something. And for that — politics aside — he should be commended.

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All bets are off at the casino ..., by Daniel Emerson - The Sydney Morning Herald - 3rd June 2008

Maintenance workers poised to reopen Star City casino after six hours of routine electrical checks have a message for Pyrmont - get ready for a stampede.

Workers outside the casino today said the corresponding closure last year ended with traffic chaos in Pyrmont as hundreds of gamblers itching for their fix choked roads around the complex.

Ron Stewart, operations manager for Commercial Energy Services, the company contracted to carry out maintenance and upgrades to alarms and lighting systems, said workers were subjected to many a filthy look and the odd insult from punters lining up to get in last year.

"Pretty much anyone in a worker overalls copped it," he said today outside the casino.

"There were traffic jams last year, people lining up just to get in the foyer and waiting to get up the escalators.

"I hope to be out of here by that time today. I couldn't get out of the place last year."

The casino set up flashing signs on roads around Pyrmont this week and last week to warn gamblers of the closure between 9am and 3pm today, but a quick walk around the complex today proved that many didn't get the memo.

"It's not open 'til three mate - bloody annoying," offered one man before shuffling away, apparently walking laps around the premises.

A procession of foreign gambling hopefuls looked confused and occasionally agitated as they approached every entrance on Pirrama Road and Jones Bay Road only to be repeatedly denied by plastic tape and security guards.

Star City hotel front office assistant manager Ryan Patterson said there were only a few gamblers on the casino floor when staff asked them to leave this morning and all of them went quietly.

Guests who arrived at the hotel to check in were being directed to the nearby Maritime Museum cafe on Murray Street for free coffee and cake, he said.

A Star City spokeswoman said the casino had not estimated how much lost revenue the six-hour closure would cause.

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Monday, June 02, 2008

Poker News Media Update

New Virgin Games showcased in Richard Branson's very own Virgin Casino. The line up now includes:

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Slots

Monopoly

Cleopatra

Virtually Vegas

Vegas Baby!

Virgin Poker

Texas hold 'em

Elvis® Multi-Strike

Roulette

Blackjack

Bingo

More news soon from Virgin Games

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