Gaming and Gambling News: NZ PM comfortable with more pokies; $1 Million WSOP Event up to 30 Entrants...

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NZ PM comfortable with more pokies...

New Zealand Prime Minister John Key says he is comfortable with an increase in the number of pokie machines at SkyCity as part of a possible deal with the casino operator to build and run a $NZ350 million ($A279.25 million) national convention centre in Auckland.

Mr Key told media in Jakarta on Tuesday he believed the increase would be "extremely modest in number and overall the number of pokie machines is reducing across Auckland and New Zealand".

Negotiations were continuing but Mr Key rejected suggestions public opposition to a deal was growing.

Explaining his dealings with SkyCity, Mr Key said he was looking for a deal to build and run the convention centre in which the government did not put up any cash.

SkyCity had presented a credible option but that was subject to negotiation and did not include any dilution of techniques to reduce the harm from gambling.

"They have the room to do it, they have integration with their hotels, they have integration with their other entertainment facilities and they are good operators running what is already a convention centre, but just one that is not big enough."

Accusations of some sort of underhand deal between the government and the company were just "nonsense", Mr Key said.

"I've been extremely upfront the whole way through. I have said I want to build a convention centre as minister of tourism."

Critics have charged the extra pokies will lead to more problem gamblers.

The Labour Party has said SkyCity wants an extra 500 machines and are being offered about 350.


$1 Million WSOP Event up to 30 Entrants...

Cirque du Soleil founder Guy Laliberté, along with the World Series of Poker (WSOP), announced Thursday that this summer’s $1,000,000 buy-in WSOP event has added eight more entrants, increasing the field to a stout 30 players. The tournament, called the Big One for ONE DROP, is now on pace to feature the largest first prize in poker history.

In December, it was announced that 22 players had been confirmed for the event, just shy of half the 48-player maximum. Joining such poker luminaries as Daniel Negreanu, Johnny Chan, Bobby Baldwin, Tom Dwan, Patrik Antonius are:

Bob Bright – CEO, Bright Trading
Cary Katz – CEO, College Loan Corporation
Arnaud Mimran – French businessman
Paul Newey – Co-founder, New Wave Ventures, LLP. (UK)
Paul Phua – Asian businessman
Erik Seidel – Poker pro
Justin Smith – Poker pro
Richard Yong – Asian businessman

With $111,111 of the $1,000,000 dollar buy-in going to ONE DROP, the 30-player field brings the total prize pool to $26,666,670. According to a payout structure table provided by the WSOP, the winner of the tournament at its current size will earn $12,266,668.20, or 46 percent of the prize pool. That would break the record for the largest prize ever awarded in a poker tournament, live or online. The current record is $12,000,000, won by Jamie Gold in the 2006 WSOP Main Event.

ONE DROP is a charitable organization which seeks to provide access to clean, drinkable water to people around the world. In a press release, Laliberté, who himself is participating in the tournament, said, “It is an exciting moment and it is wonderful to see the poker community’s generosity, where organizations, players and fans are all coming together to support ONE DROP. Whether entering the BIG ONE for ONE DROP, becoming a poker ambassador, making a donation, or simply changing their water consumption habits, everyone can get involved and everyone should be concerned, because a child dies every 20 seconds from a water related disease and that together we can beat the odds.”

As it stands now, over $3.33 million from the tournament is earmarked for ONE DROP. And while 30 players signing up for a $1 million buy-in event is phenomenal, WSOP officials expect the tournament to reach its cap of 48 players. Should that happen, the prize pool will hit $40,000,000, with $17,200,002.15 going to the winner.

The continued growth of the Big One for ONE DROP will be aided by live satellites scheduled to be held at casinos around the country. The next satellite will be at Canterbury Park in Shakopee, Minnesota. The direct buy-in for the “Main Event” satellite is $500 with 40 percent of the prize pool going to the winner. That first prize is guaranteed to include at least the $25,300 buy-in to the Official World Series of Poker the Big One Satellite on Saturday, June 30th in Las Vegas, where at least one $1,000,000 seat in the Big One will be awarded. Also included in the Canterbury Park prize packages is airfare and lodging. Qualifiers for the Canterbury Park $500 satellite will run May 7th through May 12th and will feature both $65 and $125 buy-ins. (Credit: Poker News Daily)


Scott Seiver Wins PartyPoker Premier League V...

Going into the final table of the PartyPoker Premier League V, many in the poker community were hoping the Mathew Frankland’s Cinderella story would continue for one more day. Frankland, one of two players in the field who had to qualify to get into the game, began Tuesday with the largest chip stack, a reward for earning the most points in the preliminary heats. It was not to be for Frankland against an all-star table, though, as he bowed out in 7th place. Emerging triumphant just a few days shy of his 27th birthday was Scott Seiver, who gave himself a sweet early birthday gift of half a million dollars.

Though there were seasoned vets such as Erik Seidel, Phil Laak, and Tony G at the table, it came down to two of the young guns, Seiver and 22-year old online phenom Daniel “Jungleman” Cates, for the championship. The two started heads-up play in almost a dead heat in chips – Cates with 1.295 million and Seiver with 1.245 million. Within minutes, though, Seiver took a 500,000 chip lead, picking up many of those when he moved all-in with pocket Kings, forcing Cates to fold after a three-bet.

Just minutes later, Seiver stretched his lead to 2-to-1. With blinds at 20,000/40,000, Cates had to make a move quickly. A pocket pair was as good a hand as many with which to make that move, so Cates got it all-in pre-flop with 7-7. Seiver was all-in, as well (having Cates covered, of course), settling for a coin flip with K-Q. Cates had to have been happy with the flop, as it came down T-T-4, which both denied Seiver a pair and severely limited any straight possibilities. The 3 on the turn was fantastic, too, as Seiver now had just six outs. Unless you skipped everything to this point, you already know that the percentages were not with Cates on the river. Seiver spiked a King to give him the title and the $500,000 first prize.

Here is a look at the final table standings and prize payouts:

1. Scott Seiver – $500,000
2. Daniel Cates – $300,000
3. Phil Laak – $175,000
4. Patrik Antonius – $125,000
5. Tony G – $100,000
6. Tom Dwan – $80,000
7. Mathew Frankland – $65,000
8. Sam Trickett – $55,000

But that’s not all. Each player in the PartyPoker Premier League V received $2,000 for each point earned in the preliminary heats. The standings based on total winnings remained almost the same after including the bonus money. The only change was Frankland moving up from 7th to 6th in the money rankings, the result of his winning $80,000 in the preliminary rounds. All 16 players won prize money, though only Seiver, Cates, Laak, Patrik Antonius, Tony G, Frankland, and Tom Dwan made enough to cover the $125,000 buy-in. Because Frankland won his seat, though, his winnings were all profit. The same was true for Ben Wilinofsky, which is fortunate, as he took home just $2,000. (Credit: Poker News Daily)

2012 PartyPoker Premier League V – Final Payouts

Scott Seiver – $560,000
Daniel Cates – $376,000
Phil Laak – $233,000
Patrik Antonius – $189,000
Tony G – $160,000
Mathew Frankland – $145,000
Tom Dwan – $136,000
Sam Trickett – $121,000
Yevgeniy Timoshenko – $58,000
Andy Frankenberger – $56,000
Erik Seidel – $48,000
Vanessa Selbst – $46,000
Bertrand “ElkY” Grospellier – $36,000
Eugene Katchalov – $18,000
Luke Schwartz – $14,000
Ben Wilinofsky – $4,000


Star investigator dismisses 'Sniffing Sid' rumours...

An investigator at Sydney's Star casino has told an inquiry he does not believe his former boss Sid Vaikunta was using drugs while in charge of the business.

Kevin Houlahan, the casino's investigations manager, is giving evidence this morning at a public hearing by the Independent Liquor and Gaming Authority.

Gail Furness SC is presiding over the inquiry to examine the sacking of Mr Vaikunta, as well as claims of sexual harassment and a culture of bullying at the Star.

The inquiry heard yesterday from former staff member Elizabeth Ward, who believed Mr Vaikunta used drugs.

Ms Ward said that the casino's general manager came to be known to staff by the nickname "Sniffing Sid".

Mr Houlahan has told the hearing he had heard of the nickname and rumours that Mr Vaikunta used cocaine.

But the former policeman said Mr Vaikunta never showed any signs of being a drug user in his dealings with him.

"Mr Vaikunta made it very clear to me that he was against drug use, that he had been subjected to drug testing whilst he worked previously in the United States and that he was more than happy to introduce drug testing within the workplace here," Mr Houlahan told the inquiry.

Star spokesman Brad Schmidt yesterday condemned the claims of Mr Vaikunta's drug use.

The inquiry heard yesterday that a five centimetre line of fine white powder was found in a bathroom in a high roller section of the casino.

Ms Ward said she believed the powder was cocaine, but that it was switched for cement dust before it was tested.

Security questioned

Mr Houlahan has told the inquiry he was on annual leave when the powder was discovered in December.

He said when he returned to work and was updated on the matter he felt that several steps had been missed.

Mr Houlahan said the powder should have been photographed in situ, and it should have been appropriately bagged.

The inquiry into the casino also heard details of an anonymous report suggesting staff wiped evidence of Mr Vaidunka being drunk on the premises.

Mr Houlahan said he had no reason to believe security staff had deleted video footage showing Mr Vaikunta being removed from the building.

He says he questioned two security workers and he believes their responses.

"I interviewed two other staff members within the surveillance department to which I expressed the concerns about how or why the system works, can footage be deleted, have they ever been requested to delete footage, to which they both returned that no they'd never been asked and there is no way that you can delete footage," he said.

Counsel assisting the inquiry Michael Wigney put an allegation to Mr Houlahan, that he had once told a high roller, "You need to stay off the drugs".

But Mr Houlahan flatly dismissed the suggestion.

"I deny that conversation ever took place," he said.

The casino's chief executive, Larry Mullin, also faced questioning today.

Mr Mullin worked with Mr Vaikunta in the United States before they came to work at the Star.

Mr Wigney asked Mr Mullin about claims he and Mr Vaikunta were once at a bar in the casino where a female colleague was drinking.

Mr Vaikunta allegedly told bar staff to keep serving the woman shots, despite the fact she was drunk.

Mr Mullin told the inquiry he had no memory of the alleged incident.

Mr Wigney also asked if the casino put its business interests ahead of rules, but Mr Mullin said that was not the case.

"(We) keep them happy within the framework of what's legal," he said.

Mr Mullin said the media has misrepresented the casino.


Asian operators give Vegas casino titans run for their money...

MACAU/LAS VEGAS - Billionaire Sheldon Adelson, who became one of the world's richest men by creating a casino empire in Las Vegas and Macau, is doubling down on his bets in Asia, the hottest gambling market on the planet where his Singapore operation made $1 billion the first year it was opened.

The 78-year chairman of Las Vegas Sands, the world's biggest gambling company by market capitalisation, looked supremely confident when he opened his new $4.4 billion casino last week in the former Portuguese colony of Macau, the world's largest gambling destination where bettors spent $33.5 billion last year compared to Las Vegas, which took in $6 billion.

Speaking at the opening of his Sands Cotai Central on April 11, Adelson outlined plans to spend billions more developing casinos in Vietnam, Korea and Japan, in addition to the $35 billion he plans to spend on a Spanish casino-resort complex.

Rivals Wynn Resorts and MGM Resorts are also staking their own claims throughout Asia for growth.

It's not all an American story however. Asian players like Malaysia's Genting, Hong Kong-listed Galaxy Entertainment and Melco Crown, are aggressively raising the ante as they expand on their home turf.

Rise of the Asian titan

The race to conquer the Asian casino world is already heating up in the Philippines where Asian brokerage CLSA forecasts gambling revenue to grow from US$1.3 billion in 2011 to US$3 billion in 2015 once three new resorts are completed.

Genting, controlled by Malaysian businessman Lim Kok Thay, controls and is developing casinos in the Philippines through its Genting Hong Kong unit, while parent Genting Group is developing a casino in Vietnam with local asset management group VinaCapital, according to Vietnamese media.

Galaxy and Melco, which both sit on prime real estate on Macau's coveted casino strip, are also interested in investing in the Philippines, Cristino Naguiat, chairman of the state-owned Philippine Amusement & Gaming Corp, told Reuters in February.

The firms currently developing or operating casinos in the Philippines include Belle Corp, Bloomberry Resorts, Universal Entertainment and Travellers, a joint venture between Genting and Alliance Global.

"Countries like Singapore have provided a very good template for emerging jurisdictions looking to liberalize gaming entertainment," said Steven Tight, president of international development for U.S. giant Caesars Entertainment, which owns Caesars Palace in Las Vegas.

Caesars does not operate a casino in Macau, but is itself expanding in Asia and is building a luxury resort in China's southern tourist destination, Hainan, where gambling is illegal.

Genting Singapore, armed with a hefty cash reserve of some S$3.9 billion ($3.1 billion) as of March 2012, has in the past two months raised around S$2.3 billion in debt, suggesting it is likely to push ahead with expansion plans and global acquisitions in the near term, analysts said.

Loss of face

The Asian expansion by U.S. operators has not been without controversy. Government officials in several potential Asian gambling jurisdictions considering which operators will be awarded a license are growing weary of the negative headline risk that Las Vegas operators bring with them, executives said.

Sands and Wynn are both embroiled in legal battles in the United States and Macau. Sands is fighting lawsuits filed against it by its former Macau chief executive and a former Taiwanese business partner while Wynn is being investigated for a HK$1 billion ($130 million) donation to the University of Macau.

Alleged bribes for Philippine regulators became the centerpiece of litigation in the United States between Wynn and its largest shareholder, Kazuo Okada. The case is now before a federal court in Nevada.

Okada, one of Japan's richest men whose Universal Entertainment manufactures pachinko machines, is building a casino resort in the Philippines and is reported to be investing in South Korea.

"Since entering Macau, all three Las Vegas-based operators have had international headlines that have caused humiliation and 'loss of face' for their Chinese partners and government officials," said Matthew Ossolinski, chairman of Ossolinski Holdings, a global emerging markets fund that invests in casinos and other gambling-related companies. "Some government officials in Asia are now wondering: is it worth it?"

Leaving Las Vegas?

Meanwhile, U.S. operators committed to a future in Asia could make a bold move to leave Las Vegas by delisting and selling their U.S. properties, which could free them from various U.S. legal constraints.

"It would be creating a sort of international hybrid gaming company: an established, world-class operator without the American legal baggage," said fund manager Ossolinski, who predicts the next five years will determine who dominates Asian gambling for the next 20 years.

U.S. operators are also on guard against Asian companies muscling in on their territory in the United States. Genting has been buying waterfront real estate in downtown Miami over the past year, including buying the Miami Herald building, in the hopes the state will legalise gambling.

As Asian firms look to dominate in Asia by relying on their local networks and knowledge, they are also tapping the intellectual resources of Las Vegas by hiring Las Vegas-based lawyers, architects, live entertainment producers and information technology companies.

"It won't be long before Asian firms start acquiring and developing properties in Las Vegas as a part of creating a global footprint," said Jonathan Galaviz, managing director and chief economist at Galaviz and Company LLC, an economic research and government strategies firm.

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PKR Casino releases new 3D games

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LONDON, England - (PRESS RELEASE) - PKR Casino today launched an exciting new update that will allow its 4.5m registered users to experience the thrill of casino gaming with the launch of full 3D versions of multiplayer Blackjack, Caribbean Stud™ and Casino Hold’em.

Following on from the recent launch of 3D single player Blackjack to the casino games suite, new multiplayer 3D Blackjack allows up to 6 seats per table to be played at any one time against the dealer. Also released today is a 3D version of PKR’s Caribbean Stud™ Poker which has already enjoyed great success in its mini-game format on the site. The final addition to the 3D games lobby comes in the shape of 3D Casino Hold’em - a fixed odds game based on the popular poker game variant which is available in single player mode.

Leon Walters, PKR Chief Operating Officer said: “PKR has always been about making realistic, immersive and engaging games that put players at the heart of the action. We’re delighted to be able to launch three new casino games that do just that, and we’re confident that they’ll prove to be hugely popular additions to our suite of games.”

PKR’s latest release also includes eleven new male and female avatar hairstyles, nine new emotes as well as improvements to customer support with Virtual Agent “Anna” now integrated into live person chat, who will be able to answer any customer questions immediately.

Walters about the poker software update: “We've also added synchronised tournament breaks with this release which is just a taste of the new features we're release in the coming months that are very much focused on our core poker audience.”

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Kerry Packer Aussie Legend Live On Via Art And TV - 12th May 2010

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Media Man revisits one of their most popular news stories from 2010...

G'day punters, casino and gambling millionaires and billionaires, media magnates, journalists, historians and art lovers. Art lovers?! Yes, today we bring you a special Kerry Packer special. The legend lives on, not only here, but now at an Australian artists exhibition, and of course 'Our James' (James Packer) continues to fly the flag and do the family legacy proud with his Crown Limited empire. Not only that, we also cover the pending return of KP to Australian television in an ABC mini series tipped to hit the jackpot, and Network Nine is bringing back 'Underbelly', complete with gambling themes. Media Man and Gambling911 present The Kerry Packer Special...

Kerry Packer & Friends...

Kerry Packer & Friends - NG Art Gallery - 7th Dec - 24th Dec 2010

3 Little Queen Street

Chippendale, NSW Sydney AUSTRALIA

Tuesday - Saturday 11.00am - 5.30pm

Ok punters, here's the rundown. The artist - storyteller is Gina Sinozich. She's an 80 year old, Croat, Sydney based artist who paints in order to help recycle memory. Sinozich's latest exhibition, Kerry Packer and Friends, is her first solo commercial effort in Sydney and is tells the story of the legendary Kerry Packer. She covers the unique personality and complexities of a legend who was known for his astronomical wealth, super whale gambling exploits, running his business with an iron fist, and colourful run ins with the Australian government, amongst other things.

Sinozich migrated down under to Australia is 1956 and began to paint at the age of 75, now having work in Australian and New Zealand corporate and public collections. Her show showcases Packer as 'one of us' rather than the untouchable media tycoon. Sinozich was inspired to tell the story on the premise that we often hear bad before good. This tribute to KP is generous and reveals alot of the most powerful men in the world, who in 2004, was estimated to have a net worth of AUD 6.5 billion. The work of Sinozich will be showcased at NG Art Gallery from the 7th-24th of December and is certain to excite audiences, punters, art lovers or both. A fews Aussie commentator think this blows away much of the art that American gambling tycoon Steve Wynn shows off. Maybe Wynn might like to make a purchase of some classic Packer creations.

Sinozich says Packer gave back to society in a meaningful way and the series was intended to stand as a testament for this man's intrinsic goodwill after his death in December 2005. She recites a story that fuelled her initial interest in Packer, "...one lady said that she was on George Street with two little kids behind her and she was running...running to go on the train, and he (Packer) stopped her and said, 'don't you have a car?' and he wrote a cheque for her and said here, 'buy yourself a car'." Sinozich also fondly recalls, "...when he was playing in casino in Perth he won so much money and the girl who was serving wine...he asked her, 'do you have a mortgage on the house?' she said 'yes', then he wrote a cheque for AUD 600,000."

The talented, even cunning, artist worked like a Trojan horse for a fortnight and managed to produce 26 paintings that deeply explore her subject's nature, removing much of the mystic of Packer as an uncompromising media mogul. All the characters in Sinozich's work have a yarn to tell, and most aspects of his life are covered... birth, death, and much of the in between. Make no mistake, the works are smart, and unique, and are tipped to become collectors items.

The work is relatively simple, but full of life, and has been described as "traditional representational painting", which one may argue is a dying art. We think KP would have liked the tribute, and we await word to see what living members of the Packer clan think of the works.


Kerry Packer Legend To Return To Australian TV In Cleo Mini Series...

Packer is to return to life on Aussie TV via new ABC drama Paper Giants: The Birth Of Cleo (not to be confused with the Cleopatra slot game).

Australian readers may recall the public backlash to the introduction of the super sexy womens’ title in 1972. There were Cleo lovers and haters, but we're still talking about it today, so it made an impact, which is better than many of today's rags.

Rob Carlton will play a young Packer opposite Asher Keddie as publishing pioneer, the sexy and smart Ita Buttrose.

Rumours of a sexual relationship between Packer and Ita around the time of Cleo magazine's start off, but this won't be a focus on the mini-series, due to air next year.

Buttrose, who first made her mark as the magazine's editor, was a consultant on the production.

"If there was a supposed affair it didn't happen in this timeframe. I have no idea if there was, we didn't raise it with her," Edwards said.

There ABC publicity brief has whet our appetite for lots of Packer classic stuff and enough scandal to keep us coming back for more.

"It's 1972. Skirts are up, pants are down. Girls can have anything: Fabulous careers, fashionable clothes and oral sex," spruiks the promo.

The drama cleverly follows the death of Sir Frank Packer and the rise of his second son, who defies even family expectation to succeed, in a way no one could have expected.

"It was a real turning point in Kerry's career. It was a period when he made his first big move and it was an astonishing success and one against the odds in some respects," Edwards said.

Cleo magazine itself was a fine, yet controversial work, and introduced the nude male centrefold and sexual hits, tips, tricks and more for women. Media Man friend, actor Jack Thompson, is tipped to have his racy centrefold recreated. Something about a 6th finger, down there.

ABC TV by all accounts have taken a calculated risk on the series. Most quarters of society, both insiders and outsiders we've chatted with believe the gamble will pay off with a tidy jackpot, and whispers already circulate as to how many awards the show and actors will pick up.


Nine's David Gyngell Respects Packer History; PBL Becomes Nine Entertainment Co...

KP put Publishing & Broadcasting Media on the map and grew it to become arguably the biggest media brands in Australia.

PBL - the name, is now history, since Bondi Beach based chief executive, David Gyngell, rebranded it with Nine Entertainment Co.

Gyngell, who announced the rebranding at Nine's 2011 program launch in Sydney on Friday, advised the new name would be more recognisable to the public and large and went on to emphasise Nine's broad range of businesses, which sport Nine, ACP Magazines, Ticketek and NineMSN.

The recognition factor is important since the firm is likely to be floated on the Australian Stock Exchange by its private equity owners, CVC Asia Pacific, in the first half of next year.

It's understood that a strong level of support from a host of retail investors will be key to the $5 billion-plus float's chances of a jackpot.

Gyngell wisely acknowledged it was not an easy decision given he is the late Kerry Packer's godson and great mate of James Packer. History buffs, just in case you wondered, PBL was formed way back in 1994 when KP merged Nine with ACP (Australian Consolidated Press).

"PBL has a long association with the Packers so personally I don't take that lightly. But it's modernising a business that needs to be publicly known. We don't have the luxury of having James Packer or another mogul giving the company real gravitas."

Other media updates down under include Network Seven being backed by Kerry Stokes and Network Ten's board now has James Packer, News Corporation director Lachlan Murdoch, mining magnate Gina Rinehart and WIN TV owner Bruce Gordon.

"Nine is the biggest thing that we have and it is also the thing that supports all the other companies in the best possible way," Gyngell said. "It will be a new year. We are starting again.

Nine confirmed its crime drama Underbelly would come back with a series set in the roaring 20s in Sydney as well as 3 Underbelly movies! And, get this, a good spot of gambling will also be featured.

Greg Tingle is a Special Contributor to the Gambling911.com website and Runs Media Man International.

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Crown Limited not substantial shareholder in Echo Entertainment - 1st March 2012

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Packer Gets 10 Percent In Echo Entertainment...

Media and gaming tycoon James Packer's Crown Ltd declared that it was not a substantial shareholder in Echo Entertainment, despite acquiring 10 percent of the rival casino group. Ken Barton, chief financial office for Crown, advised the company was "not a substantial holder of Echo for the purposes of the Corporations Act and therefore has no obligation to lodge a notice". Observers say this means Crown has not taken control of the 10 percent of Echo from Deutsche Bank, the investment bank believed to be the current owners of the shareholding.

Australian Casino kings James Packer and Larry Mullin war; Friendly or not?...

Top brass of The Star has issued a challenge to Crown Limited's James Packer to launch a full takeover bid if he desires a second Sydney casino.

A verbal has taken place between two of Australia's most high profile and successful gaming bosses as Larry Mullin, the CEO of Echo Entertainment - which runs The Star - railed at suggestions Mr Packer's Crown group wanted to use a stake of less than 20 per cent in Echo as the platform to build a $1 billion casino at Barangaroo.

Mr Mullin argued Mr Packer should not be allowed to build the casino without first taking over Echo Entertainment.

"There is only one casino licence (in Sydney)," he advised.

"If James Packer wants to get into this market the only way to do so is to launch a full takeover bid for Echo and reward all our shareholders."

Mr Packer was quick to reply, saying: "I don't expect Larry, as an American, to know Australian corporations law verbatim. Clearly he should spend more time studying before he ventures into that territory."

The knives started to come out as JP's bid for a Barangaroo casino received a boost from NSW Treasurer Mike Baird - who described it as a "bold" vision.

"I, for one, put my name on the table as someone that would welcome it as a great addition to Barangaroo, subject to the normal conditions," Mr Baird said.

Mr Mullin talked up the existing casino at Pyrmont, stating Echo's recent renovation program for The Star meant there was now "tremendous" growth potential for the venue's international VIP business that would flow through to the company's profits in coming years. He pointed to Echo accounts released last week showing overall VIP gaming revenues had doubled in the last six months.

Mr Mullin also broke his long standing silence on the sacking of The Star's former managing director, Sid Vaikunta.

He denied claims of a culture of covering up sexual harassment at the casino, saying: "We believe we reported everything appropriately."

Mr Mullin said he had known Mr Vaikunta "since 2002".

It is understood the two men worked together for about seven years at the Borgata Hotel and Casino in Atlantic City, USA.

Mr Mullin said an investigation limited what he could say publicly about his former colleague.
"I'm disappointed. It was someone I knew and respected and who had worked for us, and unfortunately he's moved on," he said.

It has been reported Mr Vaikunta was accused of "hitting on" a staff member in a limousine - and then a human resources manager at a staff function - in the space of two days.

A Media Man spokesperson / media commentator said "It appears to be a bit of a case that management forget they were now working out of Sin City Sydney... and not Las Vegas, where its well know that what happens in Vegas stays in Vegas. That's not usually the case in Sydney, despite the city being known for diversity and an open mind approach. This situation has made Echo Entertainment appear to be a softer target for some, which may include the likes of Crown Limited's James Packer."

Barrister Gail Furness SC is conducting the inquiry into his sacking on behalf of the NSW Casino, Liquor and Gaming Control Authority.

Stay turned to Media Man and Street Corner for more on this developing situation.

*the writer owns shares in Crown Limited

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NSW Premier delighted with new Sydney casino plans; Packer Crown Limited pending jackpot

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The Australian casino (or gaming) wars have got to a whole new level. It's Packer's Crown VS Echo Entertainment in an almost 'State Of Origin' type battle for the bulk of Australia's land based casinos. One that will take place in a boardroom, rather than on a football field, but make no mistake - it's war.

But, there is no war but peace between Crown Limited and NSW Premiere Barry O'Farrell.

The New South Wales Premier Barry O'Farrell advised he is very pleased with plans for a second Sydney casino at Barangaroo.

James Packer's Crown Casino - Crown Limited gaming giant desires to construct a world class hotel, casino and entertainment complex at the site based Sydney Harbour.

It's a given that Packer has been watching the success of Echo Entertainment's The Star, which overlooks Sydney Harbour - but has recently got itself into a few scandals.

Last week Crown Limited increased its stake in Echo Entertainment, which runs The Star casino.

Mr O'Farrell says the proposal for a second venue would bring jobs and tourism to Barangaroo, however it would need to achieve regulatory approval before moving forward to development.

John Lee from the Tourism Transport Forum says it would add life to the area.

"You only have to go to Melbourne and see that area around the Yarra River, yes there's Crown Casino there, but there is also movie cinemas, bowling alleys - there's all sorts of things that entertain people when they go to the precinct," he said.

"It's actually a place now, or a destination that people love to go to."

Currently the law allows for only one Sydney casino licence until 2019.

Greens MP John Kaye says Sydney does not need a second casino.

"There shouldn't be a back door deal between the Packers and the Premier - this should be a matter of public debate," he said.

"If you put this to the people of New South Wales they will say no to a new casino because they know it increases problem gambling, they know it increases connections to organised crime."

Packer and his team have a history of getting things done... perhaps move than that of say Prime Minister Julie Gillard.

Watch this space.


NSW Premiere Barry O'Farrell applauds Packer proposal for a second casino...

The NSW Premier, Barry O'Farrell, has embraced plans by James Packer's group for a hotel and second Sydney casino at Barangaroo on land set aside as playing fields for office workers.

On Friday Mr Packer's casino group, Crown, advised Mr O'Farrell that Crown wanted a second Sydney casino as part of a hotel and restaurant complex in the centre of the harbourside site, which the Barangaroo Delivery Authority says is intended for "civic, educational and recreation spaces".

Mr O'Farrell said: "I think it's an exciting proposal which could add extra life to Barangaroo, give Sydney another world-class hotel, generate jobs and boost tourism."

The plan also involves building a 5 star hotel well north of the proposed commercial precinct, ensuring guests on upper floors have unobstructed views of the Sydney Opera House and the Heads.

"It's the sort of tourism-related investment we want in Sydney but everyone's aware there are a range of regulatory approvals needed before it could proceed," Mr O'Farrell said.

Those approvals include permission from government bodies for a second Sydney casino because the law now allows only one licence until 2019.

On Friday Crown increased to 10 per cent its stake in Echo Entertainment, which owns the Star casino, and has sought permission from regulators to increase its stake further.

If Crown Limited can gain control of the Star, its executive chairman, Mr Packer, could in fact pursue his plan for a Barangaroo casino to operate under an extended licence for the Star.

He has flagged that such a casino would not need poker machines and could simply have gaming tables, of which the Star can have an unlimited number.

As well as approval for a second casino, Crown Limited or another developer would need the government to change planning rules for the site which now restrict any building to 30 metres high and allow only 60,000 square metres of development in the whole of Barangaroo Central.

Last week a US landscape architect, Peter Walker, who has been retained to design Barangaroo's headland park, revealed that his plans included open playing fields for office workers, similar to the Domain on the eastern side of the central business district.

He has also proposed an outdoor space or amphitheatre for concerts in the central area of Barangaroo, which is proposed as a transition between the commercial towers in the south and the headland park in the north.


James Packer planning $1.5bn casino investment...

Crown Limited plans to spend more than $1.5 billion on building new luxury hotels in Sydney and Perth, after boosting its investment in rival casino operator Echo Entertainment, Crown's executive chairman James packer advised The Australian Financial Review.

Mr Packer's plan to expand the Crown chain beyond Melbourne is part of a campaign to attract wealthy Chinese gamblers aka "Oriental whale VIP high rollers" to Australia's shores, he told the newspaper.

“Australia needs to have truly world-class hotels,” he said, acknowledging that regulators would probably raise competition concerns.

“I want to build one in Perth and one in Sydney to go with what we have in Melbourne. It puts these cities on the map."

Mr Packer's comments come after Crown spent more than $250 million lifting its stake in Echo, which owns The Star casino in Sydney, and Jupiters on the Gold Coast, to 10 per cent, from 4.9 per cent previously.

Echo rejected Mr Packer's call for representation on the company's board.

*the writer is an investor in Crown Limited, Network Ten and Virgin Enterprises

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Crown Limited - James Packer keen on Barangaroo for Sydney casino complex, by Greg Tingle

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The Australian casino (or gaming) wars have got to a whole new level. It's Packer's Crown VS Echo Entertainment in an almost 'State Of Origin' type battle for the bulk of Australia's land based casinos. One that will take place in a boardroom, rather than on a football field, but make no mistake - it's war.

A takeover war is hovering over the head of Echo Entertainment...the owner of Sydney's The Star casino...as James Packer yesterday made an audacious bid to be represented on the company's board.

The Star has been recently embattled in a scandal regarding inappropriate behaviour of a former director, so its all very interesting timing, and perhaps sees them in a weak position at the moment. Channel Seven is also planning follow up stories on The Star, and to Joe Blogs the casino does like a bit like a soft target right now.

Mr Packer's Crown yesterday fired off a missile more than doubling its stake in The Star's owner to the current 10 per cent maximum it is allowed to hold. Crown also applied to NSW and Queensland authorities for permission to go above the 10 per cent cap: prompting talk Mr Packer wants to in fact take over Echo.

This is understood to be the big move in plans to build a land based casino at Sydney's Barangaroo.

In paperwork sent off to Mr Packer yesterday, Echo Entertainment chairman John Story rejected Mr Packer's board bid.

Mr Packer told Rupert Murdock owned The Daily Telegraph he was "disappointed" in the reaction: "This is a good synergy for both companies, and today's rise in Echo's share price shows that the market thinks so as well," he said.

Mr Story's letter to Mr Packer stated in part: "The board believes that it is inappropriate for a Crown nominee to be appointed to the board as Crown is a competitor organisation. Accordingly, we will not agree to your request."

There have been some signs of an unhealthy business relationship between the two outfits in the lead-up to yesterday's announcement by Crown.

One source of tension has been Echo's constitution, which details a cap preventing any one party from having "voting power" of more than 10 per cent of Echo. Late last year, senior Packer advisor Guy Jalland let loose an attack on Echo's shareholder limit, describing it as a "poison pill" that was not in the interests of the company's shareholders.

Key sharemarket analysts have tabled that Echo Entertainment is one of the market's most obvious takeover targets because of its strategic value to Crown - already a giant in the gaming sector in the Asia Pacific region.

The theory was tested in Echo shares yesterday, which leaped up 50 cents to $4.30 on the understanding that Mr Packer would now move forward a takeover bid.

There was also speculation yesterday that Crown may be looking for a slice of Echo's high-roller VIP "whale" business. The Star has improved its performance in the "whaling" sector since its relaunch late last year.

Packer has torpedos and plenty of bait to snare in Echo. Echo's original "whales" will help with Packer's bottom line net profit, and further helps cement his place as one of the world's real big fish casino moguls. Echo is a touch on the nose at the moment, thanks to the scandal that rocked their boat and captain Packer and his loyal shipmates look poised to go in for the kill.

Will it be ships ahoy, fair winds or man overboard? Stay tuned as the Media Man agency continues to probe to probe the murky waters of the Australian casino wars.


James Packer planning $1.5bn casino investment...

Crown Limited plans to spend more than $1.5 billion on building new luxury hotels in Sydney and Perth, after boosting its investment in rival casino operator Echo Entertainment, Crown's executive chairman James packer advised The Australian Financial Review.

Mr Packer's plan to expand the Crown chain beyond Melbourne is part of a campaign to attract wealthy Chinese gamblers aka "Oriental whale VIP high rollers" to Australia's shores, he told the newspaper.

“Australia needs to have truly world-class hotels,” he said, acknowledging that regulators would probably raise competition concerns.

“I want to build one in Perth and one in Sydney to go with what we have in Melbourne. It puts these cities on the map."

Mr Packer's comments come after Crown spent more than $250 million lifting its stake in Echo, which owns The Star casino in Sydney, and Jupiters on the Gold Coast, to 10 per cent, from 4.9 per cent previously.

Echo rejected Mr Packer's call for representation on the company's board.

*the writer is an investor in Crown Limited, Network Ten and Virgin Enterprises

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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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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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World Series of Poker (WSOP) has announced dates for its 54th annual tournament, May 30 to July 18, 2023.

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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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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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