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 total outcomes are mixed.
The parent business to Caesars Interactive Entertainment, the World Series of Poker and a few casinos including Planet Hollywood, Harrah’s New Orleans, plus the Horseshoe Baltimore, CAC reported total new revenues jumped to $601.2 million within the three months finished September 30, an increase of nearly 24 per cent.
Not all of the news ended up being positive, CAC also revealing that its income that is net from operations had been just $20.5 million, a 71 per cent drop year-on-year.
Caesars Acquisition’s CEO Mitch Garber had no qualms spinning the negatives into positives, saying their organization remains ‘encouraged by the performance that is strong of assets.’
Interactive Stays Active
The highlight of Q3 filing by CAC was yet 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 social video gaming sites including Bingo Blitz, Slotomania, and Caesars Bingo.
‘Our Interactive Entertainment business continues to build outstanding results, mainly from our market leading social and mobile games company,’ Garber stated.
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 Series 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 compared to 2013 when Ryan Reiss survived amateur Jay Farber ended up being 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 added a third night of November Nine coverage in 2015, and it seemingly have at the very least halted the trend that is downward poker TV marketability.
Though Sunday’s first night don’t split the Nielsen’s top 100 cable programs, its finale on Tuesday landed smack in the middle at #50 with 1.147 million viewers tuning in at 9:30 pm to watch chip that is commanding Joe McKeehen fend off Josh Beckley and amateur Neil Blumenfield.
‘ I don’t want to speak for ESPN, but we’re pleased with just what we see from the ranks,’ WSOP’s Seth Palansky told the Las Vegas Review-Journal. ‘This is most likely a path ahead.’
By all accounts, the WSOP got just what it ended up being looking for compared to final year’s event: three Americans, an amateur underdog, and an extremely talkative big stack.
Of course, it didn’t get everything it sought as having finisher that is 11th-place Negreanu reach the Niner could have paid enormous dividends.
McKeehen’s gigantic lead, beginning Tuesday night’s play having a better than three-to-one chip advantage over Blumenfield and Beckley may have also disengaged some audiences who rightly assumed this thing ended up being very 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)
Day-to-day fantasy sports (DFS) could soon be declared illegal at 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 had been reported by The Wall Street Journal that the DoJ had begun a study into the business 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 legal question of whether DFS is exempt, as it claims, from the Unlawful Web Gambling Enforcement Act (UIGEA) of 2006.
‘Cauldron of Regular Betting’
The authors regarding the act developed a carve-out for fantasy sports at the behest of this sports leagues, nevertheless the fantasy that is season-long of 2006 were some sort of away from DFS as it exists today.
In reality, one of UIGEA’s writers, former Republican Representative for Iowa Jim Leach, publicly denounced DFS a few weeks ago as a ‘cauldron of daily betting,’ and added that there was ‘no credible method dream sports betting can be described as not gambling.’
In accordance with the latest York Post’s supply, the DOJ is probably to come quickly to the conclusion that is same and it is likely to ‘take some action ahead of the end of the year.’
All Dressed Up and Nowhere to Get
In the event that source’s claims are accurate, it’s possible that the DOJ will declare the activity a gambling endeavor in identical bracket as sports gambling, as Nevada has done, which could suggest that only those states with the right to license sports betting, (which are Nevada, Delaware, Montana and Oregon), could theoretically allow their residents to take part in dream activities, after which only having a regulatory permit.
None of these states have controlled online sports wagering, but, because its illegal under the Wire Act, making DFS nowhere to go.
Meanwhile, those states which have legalized fantasy activities and declared it to not be a game f opportunity, such as Kansas did earlier this may have to rethink their stance year.
The major sports leagues, many of whom are stakeholders within the DFS industry, will even need certainly to give consideration to their very own positions in the light of their opposition that is vocal to betting.
New York Lawsuit
Both Robert Kraft, whom owns the New England Patriots, and Jerry Jones, owner for the Dallas Cowboys, both have equity in DraftKings, as an example. The NFL strictly forbids its workers, players and team owners from playing or marketing any form of gambling. Meanwhile, both the NBA and MLB have purchased shares in fantasy activities operators.
Today, DraftKings and FanDuel sued filed legal actions to challenge the judgment of the ny 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 have been ‘defying the rule of law.’
Worldwide Poker Index and United States Of America TODAY Sports Partner to ‘Sportify’ Game
Alexandre Dreyfus gained a partner that is vital their quest to sportify poker, the businessman landing a deal with United States Of America TODAY Sports to cover his upcoming Global Poker League. (Image: pokerlistings.com)
The worldwide Poker Index (GPI) and United States Of America Sports Media Group are joining strengths in a shared mission to ‘sportify’ the game of poker and revolutionize how it’s played today.
Acquired by online business owner Alexandre Dreyfus in 2012 under his Mediarex sports and entertainment company, the GPI runs TheHendonMob.com, poker’s database that is largest into the world, and is set to launch the Global Poker League (GPL) in early 2016.
12 franchised teams spread across the world will encompass the GPL, players rated into the top 1,000 associated with the GPI available to be drafted to the rosters that are five-person.
United States Of America TODAY Sports, a international leader in sports reporting, helps keep tabs on all the latest developments and results.
‘The partnership provides a platform that is essential showcase our innovative brand new events and to promote the players ranked in the Global Poker Index,’ Dreyfus said in a press launch. ‘It’s great to truly have the support and passion of an industry frontrunner like United States Of America TODAY Sports, whose team shares our vision to ‘sportify’ poker.’
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 perfect sense. Poker’s roots date right back to long before many of the globe’s favorite sports had been created.
It stays to be seen whether poker fans enjoy watching the game up to they enjoy playing it.
Poker’s Super Bowl occured early in the day this week, the World Series that is 46th of (WSOP) crowning its $7.68 million champion on Tuesday night. The ESPN broadcast attracted 1,105,000 million viewers, fine for poker but dismal for sports.
Here is a look during 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
Dreyfus is not alone in thinking that poker has the potential to become a appealing sport for casual gamblers and even non-players.
Last July, he secured $4.9 million in capital from outside investors to promote and build the GPL.
Additional capital will be raised from the selling of the 12 franchises, and then preferably ticket product sales to tournaments.
One discussion that arrived up only at that year’s WSOP Main Event had been the thought of implementing a play clock. To result in the game more engaging for audiences, the GPL will play heads-up and six-handed matches with set time limits of 30 to 45 minutes per degree.
Each hand are going to be combined with an ‘action clock’ that will count the player down’s change similar to speed chess or perhaps the NBA.
Though terms of the partnership weren’t disclosed, it’s apparent USA Sports is also buying into Dreyfus’ blueprint today. The media group will need to assign reporters, manufacturers, and creatives that are digital protect the GPL headlines.
‘The Global Poker Index has been doing more than some other organization to unify poker,’ USA sports VP Jason Ford said today. ‘We’re excited to working together to create a 24/7 digital poker location.’