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California Online Poker costing the state millions
CANADIAN ANALYST SAYS CALIFORNIA IS MISSING OUT ON A GOLDEN POKER OPPORTUNITY
Continued failure of legalisation bills is costing the state millions.
In the latest issue of the Cantor Fitzgerald newsletter Cantech Letter, analyst Ralph Garcea gives “Buy” ratings on internet poker providers like Amaya, Intertain Group, Innova Gaming, and NYX Gaming, but notes that it is unfortunate for online gamers and for the state of California that state lawmakers continue to arrive at an impasse when it comes to passing an online poker legalisation bill.
Garcea notes that New Jersey, which recently moved to allow online gaming, had a banner month in the typically slow July, with Internet GGR up sharply, and he claims that with about a million online poker players in California that market is estimated to be worth more than $400-million, with a proposed 10 percent tax on the table.
The state is missing out on a tax windfall that other states have jumped on, Garcea observes.
“With California’s 2016 legislature session coming to a close on August 31, 2016, PokerStars will have to wait, unfortunately, until next year to see if the state will bring legalized and regulated poker to the state’s many users,” says the analyst.
“This marks yet another legislative session where an online poker bill has not been voted on – no online poker bill has ever been voted on by the full Assembly. While California still tries to make up its decade-old mind, Nevada, New Jersey and Delaware all have legalized and regulated online gambling – with New York, Pennsylvania and Michigan moving along the process.”
Garcea notes that for Amaya, California probably isn’t in the cards in the short term due to the insistence by some interested parties on draconian "bad actor" provisions in any legislative proposal.
$75K Win on Mobile Slot @ CafeCasino -
Café Casino’s mobile slot, Achilles, paid out in a big way over the weekend. A player from Pennsylvania, Rob J., triggered the game’s free spins mode by landing three scatters.
2017 Punta Cana Poker Classic Results -
The 2017 Punta Cana Poker Classic is now in the books and players are returning home after a week-long poker celebration. And after a major final table deal, two players have the most reason to celebrate. Roberto Carvallo ultimately won the tournament after negotiating a final table deal with Jamin Stokes.
NHL Odds: Winnipeg Jets vs. Minnesota Wild -
Blake Wheeler and the Winnipeg Jets will attempt to get two points closer to the Central Division lead on Tuesday, as they take on the Minnesota Wild on the road. The Jets have started strong, and sit in second place in their division. Led by RW Blake Wheeler, the Jets look like a team that could make some noise in the West this season.
Historic weekend at Americas CardRoom -
ACR ran two $1,000,000 guaranteed tournaments last Sunday for the first time in their history; a $2,100 high roller for the BOSS Main Event and a $540 buy-in Million Dollar Sunday. They were both on the last day of the $14 Million OSS Cub3d.
WPN Affiliates Headed to Berlin Affiliate Conference -
With the Berlin Affiliate Conference just over a week away, WPN Affiliates is making a bold statement. The online poker affiliate network announced that they are eager to buy traffic and ready to make deals with affiliates looking to capitalize on some big innovations.
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