World Series of Poker champ Joe McKeehen had a $7.68 million payday this week, the WSOP also helping the third-quarter financials for Caesars.
Caesars Acquisition Company (CAC), the investment arm in Caesars Growth Partners (CGP), released its third quarter profits for 2015 and the results are mixed.
The parent company to Caesars Interactive Entertainment, the World group of Poker and several casinos including Planet Hollywood, Harrah’s New Orleans, therefore the Horseshoe Baltimore, CAC reported total new profits jumped to $601.2 million into the three months finished September 30, a rise of almost 24 per cent.
Not all of the news had been positive, CAC also revealing that its net income from continuing operations had been just $20.5 million, a 71 percent drop year-on-year.
Caesars Acquisition’s CEO Mitch Garber had no qualms rotating the negatives into positives, saying their company remains ‘encouraged by the performance that is strong of assets.’
Interactive Stays Active
The highlight of Q3 filing by CAC was once again its Caesars Interactive Entertainment (CIE) arm, the division reporting $194.5 million in net revenues, a 20.4 percent yield compared to Q3 2014.
CIE is responsible for the WSOP brand name along with Caesars Palace Las Vegas and many gaming that is social including Bingo Blitz, Slotomania, and Caesars Bingo.
‘Our Interactive Entertainment business continues to come up with outstanding results, primarily from our market leading social and mobile games company,’ Garber said.
Another bright spot in that unit is of course the World Series of Poker, the game’s most well-known tournament concluding its 46th installment this week in Las Vegas.
World Group of Poker Holds
In 2014, the November Nine suffered a drop that is rather considerable viewership on ESPN for the two times of protection. A total of 1.15 million people tuned in for the finale as Martin Jacobson outlasted Felix Stephensen and finisher that is third-place November Nine start big stack Jorryt Van Hoof.
The reduced rating when compared with 2013 when Ryan Reiss survived amateur Jay Farber had been credited to non-Americans playing three-handed, and also three players whom competed in rather stoic manners.
In an effort to reignite interest and a bigger television audience, ESPN and the WSOP included a 3rd night of November Nine coverage in 2015, and it seems to have at least halted the trend that is downward poker TV marketability.
Though Sunday’s first night didn’t crack the Nielsen’s top 100 cable programs, its finale on Tuesday landed smack in the center at #50 with 1.147 million viewers tuning in at 9:30 pm to watch commanding chip leader Joe McKeehen fend off Josh Beckley and amateur Neil Blumenfield.
‘ I do not wish to speak for ESPN, but we’re pleased with exactly what we see through the reviews,’ WSOP’s Seth Palansky told the Las Vegas Review-Journal. ‘This is most likely a path forward.’
By all accounts, the WSOP got what it really had been searching for compared to final year’s occasion: three Americans, an amateur underdog, and a fairly talkative big stack.
Needless to say, it didn’t get every thing it sought as having finisher that is 11th-place Negreanu reach the Niner would have paid enormous dividends.
McKeehen’s gigantic lead, starting Tuesday night of play having a a lot better than three-to-one chip advantage over Blumenfield and Beckley may have additionally disengaged some people who rightly assumed this thing ended up being long over.
DFS Could be Outlawed By DOJ By End of as Rumors Swirl year
DFS stakeholder: New England Patriots owner Robert Kraft holds equity in DFS web site DraftKings. (Image Kevin C. Cox / Getty NA)
Daily fantasy sports (DFS) could soon be announced illegal during the federal level by the Department of Justice (DOJ), based on a Washington DC-based unnamed source who spoke to The New York Post this week.
In mid-October, it was reported by The Wall Street Journal that the DoJ had begun a study into the company models of the industry’s biggest hitters, after DraftKings’ clients had reportedly been contacted by FBI agents and questioned about the company to their interactions.
The investigation is probable to center around the question that is legal of DFS is exempt, as it claims, from the Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006.
‘Cauldron of Constant Betting’
The authors associated with act developed a carve-out for fantasy sports at the behest for the sports leagues, but the fantasy that is season-long of 2006 were a global far from DFS as it exists today.
In fact, certainly one of UIGEA’s writers, former Republican Representative for Iowa Jim Leach, publicly denounced DFS not long ago as a ‘cauldron of daily betting,’ and added that there was ‘no credible way fantasy sports betting serves as a not gambling.’
In accordance with the newest York Post’s supply, the DOJ is likely to come quickly to the conclusion that is same and is anticipated to ‘take some action ahead of the end of the entire year.’
All Dressed Up and Nowhere to Go
Then only with a regulatory license if the source’s claims are accurate, it’s possible that the DOJ will declare the activity a gambling venture in the same bracket as sports betting, as Nevada has done, which could mean that only those states with the right to license sports betting, (which are Nevada, Delaware, Montana and Oregon), could theoretically allow their residents to engage in fantasy sports, and.
None of these states have managed online sports wagering, nevertheless, because its illegal under the Wire Act, leaving DFS nowhere to go.
Meanwhile, those states which have legalized fantasy recreations and declared it to not be a game f chance, such as Kansas did earlier this may have to rethink their stance year.
The major sports leagues, lots of whom are stakeholders in the DFS industry, will even have to think about their own positions in the light of these vocal opposition to activities betting.
New York Lawsuit
Both Robert Kraft, who owns the New England Patriots, and Jerry Jones, owner associated with the Dallas Cowboys, both have equity in DraftKings, for instance. The NFL strictly prohibits its employees, players and team owners from playing or marketing any form of gambling. Meanwhile, both the NBA and MLB have bought shares in fantasy sports operators.
Today, DraftKings and FanDuel sued filed lawsuits to challenge the judgment of the nyc attorney general’s office that DFS is illegal in the state and that the 2 sites must stop their operations there.
DraftKings stated in its lawsuit that New York Attorney General Eric Schneiderman’s decision amounted to ‘strong-arm tactics’ that were ‘defying the guideline of law.’
International Poker Index and USA Sports Partner to ‘Sportify’ Game today
Alexandre Dreyfus gained a vital partner in his quest to sportify poker, the businessman landing a cope with United States Of America TODAY Sports to cover his future Global Poker League. (Image: pokerlistings.com)
The Global Poker Index (GPI) and USA TODAY Sports Media Group are joining strengths in a shared mission to ‘sportify’ the game of poker and revolutionize how it’s played.
Acquired by online entrepreneur Alexandre Dreyfus in 2012 under his Mediarex sports and entertainment company, the GPI runs TheHendonMob.com, poker’s largest database into the world, and is set to introduce the Global Poker League (GPL) in early 2016.
12 franchised groups distribute throughout the world will encompass the GPL, players rated into the top 1,000 for the GPI open to be drafted to the rosters that are five-person.
USA TODAY Sports, a worldwide frontrunner in sports reporting, may help keep tabs on all the newest developments and results.
‘The partnership will provide a platform that is essential showcase our innovative brand new events also to market the players ranked in the worldwide Poker Index,’ Dreyfus stated in a press launch. ‘It’s great to have the support and passion of an industry leader like United States Of America Sports, whose team shares our vision to ‘sportify’ poker. today’
In the event that You Build It…
In theory, Dreyfus’ reasons why you should transform poker into a game that may be marketed and digested on comparable lines to professional sports makes sense that is perfect. Poker’s roots date back to long before many for the globe’s favorite sports were created.
It stays to be seen whether poker fans enjoy watching the game as much as they enjoy playing it.
Poker’s Super Bowl occured previously this week, the World Series that is 46th of (WSOP) crowning its $7.68 million champ on Tuesday night. The ESPN broadcast attracted 1,105,000 million viewers, fine for poker but dismal for activities.
Here’s a appearance at the other big four sports audiences in 2015:
Super Bowl: 114.5 million
World Series, Game 5: 17.2 million
NBA Finals, Game 6: 23.25 million
Stanley Cup, Game 6: 8 million
Going All-In
Dreyfus isn’t alone in believing that poker has the potential to become a attractive sport for casual gamblers and even non-players.
Final July, he secured $4.9 million in capital from outside investors to advertise and build the GPL.
Extra capital shall be raised through the selling of the 12 franchises, and then ideally solution product sales to tournaments.
One discussion that came up only at that year’s WSOP Main Event was the notion of implementing a play clock. To make the game more engaging for audiences, the GPL will play heads-up and six-handed matches with set time restrictions of 30 to 45 minutes per level.
Each hand are going to be combined with an ‘action clock’ that will count straight down the player’s turn similar to speed chess or even the NBA.
Though terms of the partnership weren’t disclosed, it’s apparent USA TODAY Sports is also buying into Dreyfus’ blueprint. The media group will need to assign journalists, producers, and creatives that are digital cover the GPL headlines.
‘The Global Poker Index has been doing more than any other company to unify poker,’ USA TODAY Sports VP Jason Ford said. ‘We’re excited to working together to create a 24/7 digital poker location.’