The Sports Director for Cantor Gaming & Sports Book Manager at the M Resort, Michael Colbert, was arrested Wednesday on a out of state arrest warrant, according to the Clark County Detention Center.
Mr Colbert, 32, was booked into jail Wednesday, with a hearing is scheduled for 7:30 a.m. Monday.
A Nevada gambling regulator said a total of eight Las Vegas area residents have been arrested in a New York City police investigation of illegal bookmaking and money laundering.
Gaming Control Board enforcement chief Jerry Markling said beside Colbert, the seven others are not involved with Cantor Gaming. A Cantor spokesman said the case doesn’t involve the company. A company spokeswoman said the company had no comment on Colbert’s arrest.
All those arrested faces enterprise corruption, money laundering and conspiracy charges in New York, Markling said.
Colbert has been the public face of Cantor Gaming since the company arrived to Las Vegas more than three years ago. He served as the sports book director at the M Resort, Cantor’s first property, from the day it opened in March 2009.
The M sports book found immediate, unprecedented success under Colbert’s watch. By offering the highest limits in town and an expanded betting menu that included Las Vegas’ first-ever in-running wagering, it became ground zero for the biggest bettors in Las Vegas.
Cantor grew from there and currently operates sports books at six other casinos — the Venetian, Palazzo, Palms, Cosmopolitan, Hard Rock and Tropicana.
October 25, 2012
October 23, 2012
EU Weighs Money-Laundering Curbs in Online Gambling Action Plan
The European Union may toughen safeguards against money laundering through online betting sites and promote hotlines against match fixing as part of a push to boost protection of gamblers and counter fraud.
The European Commission will also speed up probes into whether national restrictions on online gambling firms are legal in a bid to clarify market-access rules for the industry, according to an EU official.
The measures will be included in an action plan for the online gaming and betting industry to be published tomorrow by Michel Barnier, the EU’s financial services chief, said the official, who asked not to be identified because the plans aren’t yet public.
The EU’s top court in recent years has examined a series of cases brought by betting companies including Bwin.Party digital entertainment Plc, Ladbrokes Plc and Betfair Ltd. over whether it is legal for state monopolies to block them from operating freely across the 27-nation region. Online gambling firms have also called on the EU to take action against what they say are unjustified national restrictions on cross-border gambling.
Since 2006, the Brussels-based commission has probed whether national rules in states such as Germany, France and Italy comply with EU laws. Many investigations are ongoing.
The Brussels-based commission has received complaints about market-access curbs in 20 EU nations, the official said.
Nations tend to justify the curbs on the basis that they are needed to protect citizens from gambling addiction and to prevent crime.
Barnier has said that any moves at EU level to remove market barriers mustn’t harm these consumer protection and law enforcement objectives.
The commission has considered and rejected proposing legislation to clarify competition rules for the industry, the official said.
On money laundering, the commission will weigh whether to extend legislation for casinos to online gaming firms, the official said.
The law sets out identity checks and other monitoring that gaming companies must carry out on their customers. It also requires casinos to report suspicious activities to the authorities.
The European Commission will also speed up probes into whether national restrictions on online gambling firms are legal in a bid to clarify market-access rules for the industry, according to an EU official.
The measures will be included in an action plan for the online gaming and betting industry to be published tomorrow by Michel Barnier, the EU’s financial services chief, said the official, who asked not to be identified because the plans aren’t yet public.
The EU’s top court in recent years has examined a series of cases brought by betting companies including Bwin.Party digital entertainment Plc, Ladbrokes Plc and Betfair Ltd. over whether it is legal for state monopolies to block them from operating freely across the 27-nation region. Online gambling firms have also called on the EU to take action against what they say are unjustified national restrictions on cross-border gambling.
Since 2006, the Brussels-based commission has probed whether national rules in states such as Germany, France and Italy comply with EU laws. Many investigations are ongoing.
The Brussels-based commission has received complaints about market-access curbs in 20 EU nations, the official said.
Nations tend to justify the curbs on the basis that they are needed to protect citizens from gambling addiction and to prevent crime.
Barnier has said that any moves at EU level to remove market barriers mustn’t harm these consumer protection and law enforcement objectives.
The commission has considered and rejected proposing legislation to clarify competition rules for the industry, the official said.
On money laundering, the commission will weigh whether to extend legislation for casinos to online gaming firms, the official said.
The law sets out identity checks and other monitoring that gaming companies must carry out on their customers. It also requires casinos to report suspicious activities to the authorities.
October 22, 2012
Mysterious Canadian online poker player making headlines with huge winnings
For all of the whispers and buzz Viktor “Isildur1″ Blom generated when he was an anonymous online poker player playing, and holding his own, against some of the most high profile poker players in the world, a new unidentified online poker player has become the talk of the town, thanks in part to this player laying waste to the high-stakes games in PokerStars.
The player, who goes by the handle 1Il|1Il|1il| and has been dubbed by the online poker community as “Barcode” is raking in serious profits at PokerStars, taking on some of the best online poker players, including, ironically, Viktor “Isildur1″ Blom himself.
According to PokerListings, Barcode even went bonkers on Isildur1, cleaning out the online poker legend for $173,000. More impressively, Barcode has already made $1.2 million in profit for the month of October – and last we checked, we still have over a week before November hits. This dude – or lady – is serious business.
The highlight of Barcode’s October rampage occurred last week when on a single day, he/she managed to obliterate the tables, racking up $500,000 of winnings on what we presume to be $200/$400 PLO games on Stars.
The real identity of Barcode has become a water cooler topic recently with plenty of speculation going around as to who he or she really is. The account is located in Canada, which could suggest that he or she is Canadian, although this has yet to be confirmed.
Be that as it may, there’s no denying that Barcode has been on the kind of heater run where legends are born. The player has had its share of losses – his/her initial go round when he/she first broke into the high-stakes online scene saw him/her drop $200,000 – but he/she also become more known for being the talk of the online poker world for being in the middle of one of the sickest runs we’ve seen in quite sometime.
Anybody that can win $500,000 on a single day playing poker certainly deserves the attention he or she is getting.
The player, who goes by the handle 1Il|1Il|1il| and has been dubbed by the online poker community as “Barcode” is raking in serious profits at PokerStars, taking on some of the best online poker players, including, ironically, Viktor “Isildur1″ Blom himself.
According to PokerListings, Barcode even went bonkers on Isildur1, cleaning out the online poker legend for $173,000. More impressively, Barcode has already made $1.2 million in profit for the month of October – and last we checked, we still have over a week before November hits. This dude – or lady – is serious business.
The highlight of Barcode’s October rampage occurred last week when on a single day, he/she managed to obliterate the tables, racking up $500,000 of winnings on what we presume to be $200/$400 PLO games on Stars.
The real identity of Barcode has become a water cooler topic recently with plenty of speculation going around as to who he or she really is. The account is located in Canada, which could suggest that he or she is Canadian, although this has yet to be confirmed.
Be that as it may, there’s no denying that Barcode has been on the kind of heater run where legends are born. The player has had its share of losses – his/her initial go round when he/she first broke into the high-stakes online scene saw him/her drop $200,000 – but he/she also become more known for being the talk of the online poker world for being in the middle of one of the sickest runs we’ve seen in quite sometime.
Anybody that can win $500,000 on a single day playing poker certainly deserves the attention he or she is getting.
October 18, 2012
Bodog closes to UK customers
Bodog have closed their online site to players in the United Kingdom and Europe, who will now be unable to access the poker rooms. In addition to this, the main UK Bodog casino website has temporarily closed for the overhaul, with new sign ups not being accepted.
A partner brand of Bodog is reported to have said in a statement that the website will also be removing a number of features, including the sportsbook, racebook and poker rooms.
UK customers have been left feeling confused, as the BodogEU website recently shut down and redirected their online traffic to Bodog.co.uk. The freeze on this website has resulted in many UK players feeling dissatisfied with Bodogs treatment of them. In addition to this, Bodog removed their services from 20 European countries earlier this year; including some Eastern European areas, parts of the Middle East and Belgium.
BodogUK stated that upon the sites relaunch there would be no poker features available. They instead wanted to focus more on traditional casino games, such as baccarat, and live dealer games. If players are not satisfied with this service anymore than Bodog informs them that they can cash out and leave with their funds.
For those wanting to stay with the Bodog brand, then they can attempt to create a new account with the Asian facing website, Bodog88.com. However, the appearance and features of the website are designed to attract the Asian audience. The organisation is set to pour most of their focus on the Asian market, much to the negligence of their UK customers.
Robert Gustafsson, the Managing Director, stated There are estimated to be at least 100,000,000 Chinese living outside China and if you then include Thai, Malay and Vietnamese expats, you have more than just a niche market but one that has been ignored by other operators despite being far and away the largest consumer group of casino games on the planet…
He added, Bodog.co.uk can offer a totally different product to a totally different audience and while we still offers sports betting, the all important casino customer will be our main source of revenue.
A partner brand of Bodog is reported to have said in a statement that the website will also be removing a number of features, including the sportsbook, racebook and poker rooms.
UK customers have been left feeling confused, as the BodogEU website recently shut down and redirected their online traffic to Bodog.co.uk. The freeze on this website has resulted in many UK players feeling dissatisfied with Bodogs treatment of them. In addition to this, Bodog removed their services from 20 European countries earlier this year; including some Eastern European areas, parts of the Middle East and Belgium.
BodogUK stated that upon the sites relaunch there would be no poker features available. They instead wanted to focus more on traditional casino games, such as baccarat, and live dealer games. If players are not satisfied with this service anymore than Bodog informs them that they can cash out and leave with their funds.
For those wanting to stay with the Bodog brand, then they can attempt to create a new account with the Asian facing website, Bodog88.com. However, the appearance and features of the website are designed to attract the Asian audience. The organisation is set to pour most of their focus on the Asian market, much to the negligence of their UK customers.
Robert Gustafsson, the Managing Director, stated There are estimated to be at least 100,000,000 Chinese living outside China and if you then include Thai, Malay and Vietnamese expats, you have more than just a niche market but one that has been ignored by other operators despite being far and away the largest consumer group of casino games on the planet…
He added, Bodog.co.uk can offer a totally different product to a totally different audience and while we still offers sports betting, the all important casino customer will be our main source of revenue.
Sportingbet set to agree takeover for £530 million
William Hill has increased its proposed offer for Sportingbet, valuing the online gaming company at £530m.
The offer from the British bookmaker and GVC Holdings includes the recently announced 48.9p a share in cash from William Hill, and 0.0475 new GVC shares per Sportingbet share.
William Hill submitted a £350m proposalwith GVC in September but it was rejected by Sportingbet’s board as undervaluing the company.
In a statement on Tuesday, Sportingbet said it had agreed to work with William Hill and GVC toward a firm offer, which if made, the board would unanimously recommend it to shareholders.
William Hill had been required to announce a firm offer for the online gaming company by 5pm today, but the Takeover Panel has extended this deadline to 5pm on November 13.
William Hill is after Sportingbet’s Australian business, which accounts for 90pc of its profits.
GVC, which last year bought Sportingbet’s Turkish business for £113m, would take on the more politically sensitive, unregulated operations.
The offer from the British bookmaker and GVC Holdings includes the recently announced 48.9p a share in cash from William Hill, and 0.0475 new GVC shares per Sportingbet share.
William Hill submitted a £350m proposalwith GVC in September but it was rejected by Sportingbet’s board as undervaluing the company.
In a statement on Tuesday, Sportingbet said it had agreed to work with William Hill and GVC toward a firm offer, which if made, the board would unanimously recommend it to shareholders.
William Hill had been required to announce a firm offer for the online gaming company by 5pm today, but the Takeover Panel has extended this deadline to 5pm on November 13.
William Hill is after Sportingbet’s Australian business, which accounts for 90pc of its profits.
GVC, which last year bought Sportingbet’s Turkish business for £113m, would take on the more politically sensitive, unregulated operations.
October 09, 2012
PokerStars confirms stake in Hippodrome Casino
The Sunday Times reported that PokerStars, the worlds biggest online poker site had taken a stake in the recently opened Hippodrome Casino in London operated by Simon Thomas and his family, which would value the venue at some £100 million.
PokerStars Director of Communications, Eric Hollreiser:
PokerStars will refurbish and re-brand the poker deck at the Hippodrome Casino to create the UK’s first PokerStars’ poker room.
In 2013, the Hippodrome will become home to a range of new PokerStars’ sponsored tournaments and special events which the site will promote to its customer base of 50 million registered players.
PokerStars has also taken an equity investment in the Hippodrome as part of the deal. However not releasing the amount of the deal, PokerStars can say that the valuation reported in the Sunday Times is not accurate.
PokerStars will also provide poker for a future Hippodrome online casino site.
Guy Templer, Group Strategy Director for PokerStars, said “PokerStars’ expertise and success in both online and live poker makes partnering with Hippodrome a natural fit.” And continued, “the Hippodrome has dramatically raised the quality bar for the UK casino industry,” Templer said, “So together we will give poker players the same great poker experience, live 24/7 in the heart of London that they get from PokerStars online. We are looking forward to unveiling some great new live events for the UK poker market in 2013.”
PokerStars Director of Communications, Eric Hollreiser:
PokerStars will refurbish and re-brand the poker deck at the Hippodrome Casino to create the UK’s first PokerStars’ poker room.
In 2013, the Hippodrome will become home to a range of new PokerStars’ sponsored tournaments and special events which the site will promote to its customer base of 50 million registered players.
PokerStars has also taken an equity investment in the Hippodrome as part of the deal. However not releasing the amount of the deal, PokerStars can say that the valuation reported in the Sunday Times is not accurate.
PokerStars will also provide poker for a future Hippodrome online casino site.
Guy Templer, Group Strategy Director for PokerStars, said “PokerStars’ expertise and success in both online and live poker makes partnering with Hippodrome a natural fit.” And continued, “the Hippodrome has dramatically raised the quality bar for the UK casino industry,” Templer said, “So together we will give poker players the same great poker experience, live 24/7 in the heart of London that they get from PokerStars online. We are looking forward to unveiling some great new live events for the UK poker market in 2013.”
Crockfords casino refuses to pay £7.3 million winnings
A source with close knowledge of the dispute described the situation as unprecedented.
Mr Ivey, a 35-year-old Californian, was playing Punto Banco, when he struck a remarkable winning streak.
The 184-year-old casino initially agreed to transfer the winnings to his bank account, but six weeks on it has returned only his £1 million stake.
Instead it began an exhaustive inquiry.
Staff, including the female dealers at the punto banca table, were interviewed at length amid fears there may have been some form of collusion.
This is thought to have been ruled out now since the enquiry.
While it is unclear what, if anything, Mr Ivey has been accused of, lawyers for both sides are said to be engaged in an increasingly tense stand-off. It is not thought that police have been alerted.
Sources said Mr Ivey played for two nights over the August bank holiday for about seven hours in all.
Suspicions over the win intensified when it was discovered that his companion’s membership of another Mayfair casino had previously been suspended.
The reason for this has not been revealed.
Crockfords, the oldest private gaming club in the world, is owned by Genting, company investigators flew to London from Kuala Lumpur to speak to everyone who was working on the two nights in question and to examine hours of film from surveillance cameras.
The cards used and the shoe they were dealt from were also scrutinised.
‘No imperfections, or marks, that would have given Ivey an advantage were found.
In any case, Ivey at no time touched the cards,’ said a source.
‘The shoe was also thoroughly inspected; once again the investigators drew a blank.’
Mr Ivey, who once picked up £10 million in a poker tournament in Las Vegas, was playing in a small private room on the ground floor of Crockfords.
He sat next to his companion.
The only other people in the room were the croupiers and an inspector.
All the action was recorded on ten cameras.
At the time of publication no comment was made from Crockfords about the incident.
Mr Ivey, a 35-year-old Californian, was playing Punto Banco, when he struck a remarkable winning streak.
The 184-year-old casino initially agreed to transfer the winnings to his bank account, but six weeks on it has returned only his £1 million stake.
Instead it began an exhaustive inquiry.
Staff, including the female dealers at the punto banca table, were interviewed at length amid fears there may have been some form of collusion.
This is thought to have been ruled out now since the enquiry.
While it is unclear what, if anything, Mr Ivey has been accused of, lawyers for both sides are said to be engaged in an increasingly tense stand-off. It is not thought that police have been alerted.
Sources said Mr Ivey played for two nights over the August bank holiday for about seven hours in all.
Suspicions over the win intensified when it was discovered that his companion’s membership of another Mayfair casino had previously been suspended.
The reason for this has not been revealed.
Crockfords, the oldest private gaming club in the world, is owned by Genting, company investigators flew to London from Kuala Lumpur to speak to everyone who was working on the two nights in question and to examine hours of film from surveillance cameras.
The cards used and the shoe they were dealt from were also scrutinised.
‘No imperfections, or marks, that would have given Ivey an advantage were found.
In any case, Ivey at no time touched the cards,’ said a source.
‘The shoe was also thoroughly inspected; once again the investigators drew a blank.’
Mr Ivey, who once picked up £10 million in a poker tournament in Las Vegas, was playing in a small private room on the ground floor of Crockfords.
He sat next to his companion.
The only other people in the room were the croupiers and an inspector.
All the action was recorded on ten cameras.
At the time of publication no comment was made from Crockfords about the incident.
October 08, 2012
Italian Online Poker Collapses
Italian state regulator, L’Amministrazione Autonoma dei Monopoli di Stato (AAMS) has released its annual report which shows clearly the serious decline in online poker revenue. From a high of €41m in January, gaming revenues have fallen 43% to just over €23m.
Tournament revenues are down almost 75% since regulation was first introduced having disintegrated from a high in January 2011 of €35.3m to an August 2012 low of €9.1m.
Cash games, which were first introduced just over 15 months ago and initially proved a boom for the market, are down 41% in the last year.
Italy’s poker problems can be put down to two inter-related issues: high gaming taxes and low player liquidity. The tax levy is the highest in Europe, which substantially increases the entertainment cost for recreational players and make the games an unviable source of income for professionals.
Additionally, the player pool is restricted to Italian citizens only. The artificial restriction means tournament prize pools are naturally lower, and a narrower selection of games run, which attracts fewer recreational players and, in turn, fewer serious players.
Recent discussion between Spanish and Italian regulators may result in a joint player pool at some stage next year. The discussions do at least point to the regulators being aware of the problem. Discussions with its French counterpart also continue, although ARJEL recently played down the possibility of shared liquidity between the two countries.
Italy’s experience with taxing and regulating online poker demonstrates more clearly than any rational argument that poker is different from other forms of online gambling and needs to be taxed and regulated accordingly.
Unfortunately the solution to the problem is political. In this time of austerity the probability of getting the political support necessary to cut online poker taxes and abandon the state monopoly is fairly low. The future of online poker in Italy is far from bright.
Tournament revenues are down almost 75% since regulation was first introduced having disintegrated from a high in January 2011 of €35.3m to an August 2012 low of €9.1m.
Cash games, which were first introduced just over 15 months ago and initially proved a boom for the market, are down 41% in the last year.
Italy’s poker problems can be put down to two inter-related issues: high gaming taxes and low player liquidity. The tax levy is the highest in Europe, which substantially increases the entertainment cost for recreational players and make the games an unviable source of income for professionals.
Additionally, the player pool is restricted to Italian citizens only. The artificial restriction means tournament prize pools are naturally lower, and a narrower selection of games run, which attracts fewer recreational players and, in turn, fewer serious players.
Recent discussion between Spanish and Italian regulators may result in a joint player pool at some stage next year. The discussions do at least point to the regulators being aware of the problem. Discussions with its French counterpart also continue, although ARJEL recently played down the possibility of shared liquidity between the two countries.
Italy’s experience with taxing and regulating online poker demonstrates more clearly than any rational argument that poker is different from other forms of online gambling and needs to be taxed and regulated accordingly.
Unfortunately the solution to the problem is political. In this time of austerity the probability of getting the political support necessary to cut online poker taxes and abandon the state monopoly is fairly low. The future of online poker in Italy is far from bright.
October 05, 2012
British Horseracing Authority charges 9, including jockey and 3 soccer players, over fixing
The British Horseracing Authority has charged a jockey and eight others, including three soccer players, with race fixing.
The charges follow an investigation into suspicious betting, focusing on wagers that horses would lose between November 2010 and March 2011.
Jockey Andrew Heffernan, who is licensed to ride in Australia, has been charged with five corruption offenses, including offering to receive or receiving a bribe and “intentionally failed to ensure that a horse ridden by him was run on its merits.”
Among the eight other people charged is Ipswich striker Michael Chopra, who is accused of offering a bribe to Heffernan and conspiring to “commit a corrupt or fraudulent practice by placing bets.”
Nottingham Forest midfielder James Coppinger and former Manchester United player Mark Wilson also have been charged.
The charges follow an investigation into suspicious betting, focusing on wagers that horses would lose between November 2010 and March 2011.
Jockey Andrew Heffernan, who is licensed to ride in Australia, has been charged with five corruption offenses, including offering to receive or receiving a bribe and “intentionally failed to ensure that a horse ridden by him was run on its merits.”
Among the eight other people charged is Ipswich striker Michael Chopra, who is accused of offering a bribe to Heffernan and conspiring to “commit a corrupt or fraudulent practice by placing bets.”
Nottingham Forest midfielder James Coppinger and former Manchester United player Mark Wilson also have been charged.
October 04, 2012
Stoichkov to Be Questioned over Match-Fixing Statements
Bulgarian authorities are to question former Barcelona striker Hristo Stoichkov regarding his recent criticism of betting related match-fixing in the country, according to a local media report.
Stoichkov is to be questioned in Bulgaria's Chief Directorate for Combatting Organized Crime on Thursday, local media have revealed.
The authorities want the legendary Barcelona forward to shed more light on his statements that the Bulgarian state and the Bulgarian Football Union have failed to stop the illegal activities going on in the country's football championship.
Recently, Stoichkov, who is currently coaching the team of Litex Lovech, called upon Interior Minister Tsvetan Tsvetanov to deal with betting related match-fixing, suggesting that Tsvetanov may have been "afraid" to tackle the issue.
"I'm personally not afraid to speak, I'm not afraid of anything," Stoichkov declared earlier in September.
He further stated that several teams have been involved in match-fixing.
According to the Sega daily, Stoichkov will be also questioned regarding the May 12 game in which Litex smashed relegation favorites Kavarna 5:0. It is still unclear whether it is among the 16 games in the Bulgarian championship that UEFA considers suspicious.
At the end of August, a BBC investigation revealed that Bulgaria's football is deeply involved in mafia businesses, with match-fixing and money laundering being just the tip of a criminal iceberg that lurks beneath the surface of the game.
The BBC investigation was triggered by continuing reports that football in Bulgaria is riddled with corrupt practices including match-fixing and the illegal procurement of European Union passports for overseas players.
Stoichkov is to be questioned in Bulgaria's Chief Directorate for Combatting Organized Crime on Thursday, local media have revealed.
The authorities want the legendary Barcelona forward to shed more light on his statements that the Bulgarian state and the Bulgarian Football Union have failed to stop the illegal activities going on in the country's football championship.
Recently, Stoichkov, who is currently coaching the team of Litex Lovech, called upon Interior Minister Tsvetan Tsvetanov to deal with betting related match-fixing, suggesting that Tsvetanov may have been "afraid" to tackle the issue.
"I'm personally not afraid to speak, I'm not afraid of anything," Stoichkov declared earlier in September.
He further stated that several teams have been involved in match-fixing.
According to the Sega daily, Stoichkov will be also questioned regarding the May 12 game in which Litex smashed relegation favorites Kavarna 5:0. It is still unclear whether it is among the 16 games in the Bulgarian championship that UEFA considers suspicious.
At the end of August, a BBC investigation revealed that Bulgaria's football is deeply involved in mafia businesses, with match-fixing and money laundering being just the tip of a criminal iceberg that lurks beneath the surface of the game.
The BBC investigation was triggered by continuing reports that football in Bulgaria is riddled with corrupt practices including match-fixing and the illegal procurement of European Union passports for overseas players.
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