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New York Racinos Want DFS

NEW YORK RACINOS IN BID FOR DAILY FANTASY SPORTS
 
With legislation progressing in both the House and the Senate, racetracks want in.
 
With daily fantasy sports legislation making progress in both the House and the Senate in New York state the New York racing industry had suddenly taken an interest, proposing that daily fantasy sports in the state be restricted to the racinos and three commercial casinos currently under construction in New York.
 
The New York Gaming Association, a trade body representing the interests of New Yorks nine racino operators, proposed the plan, and was immediately criticised by DFS bill proposer Sen. John Bonacic, who told the Senate Racing and Wagering Committee that the Association was trying a greedy power play to grab a piece of the DFS action.
 
Sen. Bonacic was later supported by Rep. Gary Pretlow, who is sponsoring a DFS bill in the state House and said:
 
“They (the NYGA) have shown no interest in the past. (DFS) has been around for years. Weve not heard a peep out of anyone. Now that were going to legalize them and the states going to reap some benefits from the operations, the racinos and casinos say they want a piece of the action.
 
Meanwhile Sen. Bonacic has claimed that his Senate DFS bill, and Pretlow’s equivalent in the state House, is basically similar.
 
Bonacic pointed out that the only significant differences between the two proposals, which are both progressing through relevant committees, are on the question of how much operators should pay the state.
 
Bonacics bill has suggested a fee that would amount to the lesser of $500,000 or 5 percent of DFS gross revenues, while Pretlows has a sliding scale fee structure intended to protect the smaller DFS companies.
 
The New York Gaming Association is currently opposed to the Bonacic and Pretlow bills on grounds that legalising DFS without involving its members could have an adverse impact on their business.
 
Pretlow has scoffed at the idea, saying that under the proposals there was nothing to stop the NYGA members from starting their own DFS enterprises and competing in an open market.
 
On the Bonacic bill, an expected debate in the Senate Finance Committee did not take place Thursday as anticipated following the bills passage through the Senate Racing and Wagering Committee Wednesday.
 
Instead, Senate staff said the discussion will take place next week...with the Legislature adjournment date of June 16 looming ever larger.

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Gambling News :

South Africa Going After Illegal Gambling - In South Africa a combined national police and federal enforcement initiative has shuttered 19 illegal gambling venues across the provinces of Northern Cape and North West.

The Winning Express arbitrage sports betting scheme - A UK-based GBP 27 million arbitrage sports betting scheme, The Winning Express, has collapsed, leaving a thousand investors with concerns that their money is lost, according to a BBC report over the weekend.

Global Poker League Championship Results - #gpl The inaugural season of the Global Poker League Championship played out this week with the Montreal Nationals besting the Berlin Bears across 11 games to claim the $100,000 main prize.

Yahoo DFS Gets Uk License - #yahoo Industry observers point out that Yahoo has thus far carried out little in the way of major marketing on DFS in its US endeavors, unlike rivals DraftKings and FanDuel, and they expect it to follow a similar path in the Britain.

SPANISH GAMBLING MARKET CONTINUES TO GROW - Spain's gambling industry continued to advance in 2015 with growth in most sectors, according to the latest research report from the Codere - University of Madrid Institute for Policy and Governance collaboration released this week.

Novomatic Acquires Albanian National Lottery - #Novomatic The Austrian gaming technology group Novomatic has issued a statement confirming that it has completed the final required steps for the successful acquisition of the Albanian National Lottery.

2016 Massachusetts Gaming Commission Report - Industry journalist Steve Ruddock picked up on some interesting statistics from the latest annual report of the Massachusetts Gaming Commission released this week, flagging the current results from its on-going monitoring research of the state gambling market.

Jack Lam denies bribe allegations - Allegations by Philippines Justice Secretary Vitaliano Aguirre that casino tycoon Jack Lam used 'facilitator' Wally Sombero in an attempt to bribe him into protecting Lam interests have been hotly denied by Lam.

Fonbet Gets Russian Betting License - #Fonbet Russian-licensed operators are required to use officially sanctioned payment hubs called TSUPIS to facilitate government oversight, and this may be a concern for Fonbet at present.

New Attempts to Restore the Wire act - In the first of these initiatives, which Online Poker Report notes is supported by only eight state AGs (half those who signed a similar letter last year), the signatories seek support for RAWA at a Congressional hearing scheduled for December 9.

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