Lights Out Poker - Official Site of Frank "Lights Out" Kassela

IGT Launches New Poker Game

admin — Fri, 18 May 2012 21:57:30 +0000

Double Down Interactive, a subsidiary of International Game Technology (IGT) recently launched a new poker game on Facebook. The new game known as Texas Hold’em Poker is a free-to-play game and is the second poker title to join the Double Down Casino after Omaha poker.

IGT acquired Double Down Interactive in January this year. Double Down Casino is one of the most popular social games on Facebook with more than 4.7 million monthly active users, according to AppData. There are currently 20 games that players can enjoy at the Double Down Interactive online casino on Facebook.

Players are awarded with free chips every day in order to play the free-to-play games. Players can pay to play a wide range of poker games, slots, roulette tables and video poker games. We believe that the new poker game will further boost Double Down Casino’s user base going forward.

According to market research firm eMarketer, the U.S. social gaming market is expected to be worth $2.18 billion in 2012, doubling by 2014. Generally, most of the social games are free to play and generate revenue primarily through the in-game sale of virtual goods in exchange for virtual currency, which is known as micro-transactions.

In case of Facebook, which is currently the world’s largest social network with more than 800 million global users, players use their Facebook credits to buy virtual goods. Facebook keeps a certain percentage of revenue and delivers the remaining to the game developer. Advertising is also an important source of revenue for social game developers as well as Facebook.

This is also true in case of casino style games, where gamers play for virtual currency or Facebook Credits, which they can never be cashed in as per the prohibitions under the U.S. gambling laws. Despite this disadvantage, casino style gaming is considered the fastest growing segment of the social gaming market given the addictive nature of the games.

Although Double Down is a lesser-known company compared to some other big names in the sector, the company has achieved success in building a strong customer base within a very short span of time. This has primarily been driven by Double Down’s broad and expanding portfolio, which includes blackjack games, slots, slot tournaments, video poker and roulette.

IGT is a comparatively new entrant in the social gaming market. We believe that Double Down’s strong product portfolio and customer base will provide it a competitive edge over the other established players such as Zynga Inc. (ZNGA) and Electronic Arts Inc. (EA) going forward.

We believe that IGT is successfully penetrating the online and social casino gaming market through the acquisitions of Double Down and Entraction Holding AB. We believe that the addition of poker, bingo, casino and sports betting will boost IGT’s interactive gaming portfolio going forward.

The company has also ventured into the cloud computing arena through its IGT Cloud. With the IGT Cloud services, we expect IGT to gain traction in the casino gaming industry, as it would likely be well accepted by new casino properties, thereby improving the company’s top line going forward.

We have a Neutral recommendation on the stock over the long term (6-12 months). Currently, IGT has a Zacks #3 Rank, which implies a Hold rating on a short-term basis.

Read the Full Research Report on IGT

Read the Full Research Report on ZNGA

Read the Full Research Report on EA

Zacks Investment Research

More From Zacks.com

Read the analyst report on IGT,ZNGA,EA

Article source: http://finance.yahoo.com/news/igt-launches-poker-game-205522504.html

Sky Poker pro, Tikay, set to Analyse Coach Kendall Freeroll Winner's Poker Play on Sky Poker TV

admin — Fri, 18 May 2012 15:57:33 +0000

LONDON, May 18, 2012 /PRNewswire/ –

The winner is yet to be announced but if you entered Sky Poker‘s Coach Kendall Freeroll competition, you could have your poker hand analysed by poker pro, Tikay!

Have you ever been watching Sky Poker TV and found Tony “Tikay” Kendall’s advice invaluable or simply been in awe of his poker prowess? Well, now there is a fantastic opportunity to learn a little bit more about poker and up your game care of Sky Poker pro, Tikay!

Following the amazing Coach Kendall Freeroll promotion from Sky Poker, poker players have the opportunity to pick up some professional hints and tips which will both help and enhance their game. The competition, which ran on Wednesday 16^th May, cost players 200 poker points to enter and the winner is soon to be announced…. Whether you entered the competition or not, you can still benefit from Tikay’s deluge of hints and tips!

The winner of the freeroll will be presented with £50 to play on the Master Cash Tables in the following week, as well as a seat to the Primo on Sunday 20^th May. The lucky winner, along with five other runners-up, will also snag themselves a free Sky Poker hoodie.

But that’s not the best bit, as the winner on the Master Cash table will have their hands analysed, dissected, and presented by Tikay live on Sky Poker TV!

The show, called “Analyse My Play”, will air on Sunday 27^th May at 8pm. At the end of the show, Tikay will then give the player his three personalised tips for them to improve their game. This kind of poker coaching is priceless!

So don’t forget to tune in to get some incredible free poker tips!

Sky Poker is one of the UK’s leading online poker rooms. Play for real money with no download required, and get cash rewards when you join and play. Players are also encouraged to join the active community, where players can chat as well as enjoy the forums and blogs. Sky Vegas also offers games of Texas Hold’em and Omaha in a variety of exciting tournaments and cash games.

For more information on all of our games and offers, please visit the Sky Poker website.

About SkyPoker.com

Sky Poker is the British Sky Broadcasting‘s online poker division, which allows users to play poker online on their website and screens selected hands from various tournaments and cash games on Sky Poker TV, allowing players on the site to become the stars of the TV channel. Sky Poker focuses on poker online and UK poker players, with all play at the tables in pounds rather than dollars, as well as its own Sky Poker Tour around the country.

Sky Poker is licensed and regulated by the Alderney Gambling Control Commission (AGCC).

Facebook: http://www.facebook.com/skypoker

Twitter: @sky_poker

Article source: http://finance.yahoo.com/news/sky-poker-pro-tikay-set-141900171.html

G-poker: PokerStars’ Plans for Full Tilt Poker May Be Affected by Unexpected Taxes on Online Poker Sites in Spain

admin — Fri, 18 May 2012 15:57:31 +0000

MONTREAL–(BUSINESS WIRE)–

G-poker (http://www.g-poker.ca)
reports that new online poker regulations in Spain may have significant
financial impact on major online poker sites, including those most
popular in Canada. The Spanish government announced that despite
previous agreements, demands on online poker companies seeking a license
to operate within the country will be increased. One demand is that
companies pay back taxes starting from 2008 – a huge and unexpected
financial burden for the largest and most popular online poker sites
like PokerStars, Party Poker, and 888
Poker.

“PokerStars is estimated to owe $257 million in back taxes,” explained
G-poker spokesman Jeremy Taylor. “That’s a huge sum of money, especially
now that PokerStars is allegedly in negotiations with the Department of
Justice to acquire Full Tilt Poker and repay former Full Tilt players.
The question is, with this unplanned financial burden, can PokerStars
proceed with its alleged plans to buy Full Tilt Poker?”

“Other large poker sites would be hit by the Spanish requirements too,
but not as hard,” Taylor continued.

“888 Poker seems confident
that it can live up to commitments to all players, including in Spain
and in Canada,” Taylor said. “With a 25% increase in players since 2011,
its highest revenue to date in March, and arrangements with the Nevada
Gaming Commission and Vegas casinos allowing 888 Poker to be one of the
first to enter a reopened U.S. market, the financial burden seems
manageable. 888 Poker has been on fire this past year and is making huge
strides in the online poker industry – as a result, our Canadian readers
have faith in the company’s ability to thrive.” Read more: http://www.g-poker.ca/888-poker.

“Party Poker is looking
at approximately $77 million in back taxes in Spain, a hefty but also
seemingly manageable sum for the world’s largest publicly traded online
gaming company,” Taylor added. “For privately owned online poker sites,
this could majorly affect their budgets. However, for public companies
like 888 Poker and Party Poker, it’s less of a concern. Regulation
should only strengthen investors’ belief in the companies’ ability to
operate.”

More online poker information:

http://www.g-poker.ca/888-poker

http://www.g-poker.ca/party-poker

Article source: http://finance.yahoo.com/news/g-poker-pokerstars-plans-full-152000818.html

Gate To Wire Enters Into an Agreement to Acquire a Poker Company

admin — Thu, 17 May 2012 21:55:00 +0000

TORONTO, ONTARIO–(Marketwire -05/17/12)-
Gate To Wire Solutions, Inc. (GWIR.PK), (“G2W”), a solutions provider and advisory organization to international horse racing and casino gaming interests, has announced that it has entered into a Letter of Intent to acquire 2251803 Ontario Ltd., a company doing business as the Poker Management Group (“PMG”). PMG is the operator of the World Poker Showdown, a poker room management company selling poker vacations on cruise ships, and Contest Poker, a recently developed brand that will operate an online sweepstakes poker business in regulated markets.

The acquisition of PMG will be completed on a share exchange basis with the shareholders of PMG receiving 12.5 million new common shares of G2W. PMG shareholders will also receive an earn-out paid annually of 15% of Earnings before Interest, Taxes, Depreciation, and Amortization (“EBITDA”) capped at a cumulative amount of $25 million. The Company’s poker management team will be led by Herb Van Dyke, an experience poker room and casino operator with over 35 years of experience in the casino gaming and poker industries.

“This is an exciting opportunity for G2W and we look forward to working with Herb and the PMG management team,” stated Mr. John G. Simmonds, President and CEO of G2W. Mr. Simmonds added, “Poker has enjoyed resurgences in North America and the world as regulated markets have continued to embrace new poker room licenses and online poker opportunities. We believe there will be a tremendous opportunity to develop a recognized poker room brand. It is important to note that the company will only look to operate in regulated jurisdiction with valid licenses and Mr. Randy Barber will remain on our Board of Directors and oversee the company’s gaming compliance.”

Mr. Herb Van Dyke of PMG stated, “There is a tremendous opportunity to consolidate and brand a network of poker rooms and I believe Gate To Wire provides the necessary vehicle we need to advance this business and develop our online poker product. I look forward to working with John to enhance this business and build an industry leading Board of Directors.”

PMG is a private entity formed to operate and manage poker rooms and to develop an online sweepstakes based subscription poker service that will provide a legal online poker service to the regulated markets.

Gate To Wire Solutions, Inc. is a public company trading under the symbol GWIR on the OTC Pink Sheets exchange in the United States. It is a solutions provider and advisory organization to horse racing and casino gaming interests.

This press release contains “forward looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on currently available competitive, financial and economic data and management’s views and assumptions regarding future events. Such forward-looking statements are inherently uncertain. Gate To Wire Solutions, Inc. cannot provide assurances that the matters described in this press release will be successfully completed or that the company will realize the anticipated benefits of any transaction. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to: global economic and market conditions; the war on terrorism and the potential for war or other hostilities in other parts of the world; the availability of financing and lines of credit; successful integration of acquired or merged businesses; changes in interest rates; management’s ability to forecast revenues and control expenses, especially on a quarterly basis; unexpected decline in revenues without a corresponding and timely slowdown in expense growth; the company’s ability to retain key management and employees; intense competition and the company’s ability to meet demand at competitive prices and to continue to introduce new products and new versions of existing products that keep pace with technological developments, satisfy increasingly sophisticated customer requirements and achieve market acceptance; relationships with significant suppliers and customers; as well as other risks and uncertainties, including but not limited to those detailed from time to time in Gate To Wire Solutions, Inc. SEC filings. Gate To Wire Solutions, Inc. undertakes no obligation to update information contained in this release. For further information regarding risks and uncertainties associated with Gate To Wire Solutions, Inc.’s business, please refer to the risks and uncertainties detailed from time to time in Gate To Wire Solutions, Int.’s SEC filings.

Gate To Wire Solutions, Inc.
John G. Simmonds
Chairman, President and CEO
(905) 833-9845 ext. 223
jgs@vertility.com

Article source: http://finance.yahoo.com/news/gate-wire-enters-agreement-acquire-185300790.html

Investing Like a Poker Player

admin — Thu, 17 May 2012 21:54:57 +0000

Rob Russell

On a recent business trip to Pittsburgh, PA, I had the pleasure of hanging out with one of the best advisers in the country, Michael Reese from Michigan. But it wasn’t his financial prowess that impressed me; it was his mastery of poker. That’s right, poker. So, it got me thinking: Can investors do better if they start to think like poker players? I say yes.

You can do better because world-class poker players think differently about money. Now, I’m not saying you should gamble with your retirement. Rather, there are certain attributes that when correctly added to your investment strategy can really juice up your returns and limit your losses. Before you’re you go “all in,” learn some of the common traits held by the world’s top poker players:

Know the odds. The best poker players only bet when they believe their cards have a statistical edge against the other contestants. How’s the market any different? Are you blindly investing with the herd or looking for the edge?

Know when to fold ’em. Casinos and Wall Street have one thing in common: They can’t control when you cash in and get up from the table. The most important thing you can do as a trader is limit your losses. In other words, when you place a trade, know your exit strategy. The best poker players lose more hands than they win, but they limit their losses by folding early on, and the big money is made on winning hands when the odds are in their favor.

Don’t bet with scared money. The best sleep insurance you can buy is to only trade with money you can afford to lose—money that, if you lost it, it wouldn’t change your lifestyle.

Check your emotions. Investing, like poker, should be emotionless. The hardest thing for novice and expert traders is to not let their emotions get the best of them, causing them to deviate from their disciplined strategy. Know exactly at what price you’re going to buy and exactly at what price you’re going to sell to remove the emotional aspects of investing.

Disciplined strategy. Are you a buy-and-hold investor? Do you invest for the long-term hoping for a good return? These aren’t strategies. It’s called being lazy—the way Wall Street wants you to be. The responsibility of preserving and growing your money rests squarely on your shoulders. You and only you can rescue your retirement dreams, and the process begins with implementing a money management strategy that limits your losses and lets your profits run. But you have to stick to it!

Taking back control of your financial future starts with implementing the best habits of the best poker players on the planet. If you can apply all of these common traits, then you’ll have an edge over the vast majority of investors and financial advisers.

Robert Russell is CEO CIO of the Ohio-based Russell Company, a private wealth management firm specializing in helping affluent individuals ages 45 and up create and preserve their wealth. He co-hosts a radio show, authors The Rob Report blog, and is a frequent contributor to FOX Business and CNBC.

Securities offered through Kalos Capital, Inc., Member FINRA, SIPC. Investment Advisory Services offered through Kalos Management, Inc., 3780 Mansell Rd. Suite 150, Alpharetta, GA 30022, (678) 356-1100. Russell Company is not an affiliate or subsidiary of Kalos Capital, Inc. or Kalos Management, Inc.

Article source: http://www.usnews.com/blogs/the-smarter-mutual-fund-investor/2012/5/17/investing-like-a-poker-player?s_cid=rss:the-smarter-mutual-fund-investor:investing-like-a-poker-player

Poker Hall of Fame Members Part Thirteen

admin — Thu, 17 May 2012 21:54:56 +0000

This is continued from WSOP Poker Hall of Fame Members Part Twelve

The twelfth article in this series covered the WSOP Poker Hall of Fame Member of 1996 and the WSOP Poker Hall of Fame Member of 1997. This included short bios for both Julius Oral Popwell and Roger Moore.

This article will continue from there, but there were no new members added to the WSOP Hall of Fame in 1998, 1999 and 2000. These were three of only a few years when no new members were inducted. This article will cover the WSOP Poker Hall of Fame member of 2001, as well as the first of two Hall of Fame members for 2002.

WSOP Poker Hall of Fame Member of 2001

Stu Ungar was commonly called The Kid or The Comeback Kid and he was the only member inducted to the WSOP Hall of Fame in 2001. He was born on September 8, 1953 in New York City and died on November 22,1998. Ungar is said to have been the best gin rummy and No Limit Hold’em player in history. His excellent card-counting skills while playing blackjack eventually led to him being banned from playing this card game in most Las Vegas casinos. He has won cash in 16 WSOP events, including five WSOP bracelet wins. These occurred in 1980, (two in) 1981, 1983 and his final bracelet win in 1997.

WSOP Poker Hall of Fame Member of 2002

Lyle Arnold Berman was born in Minnesota on August 6, 1941. Berman earned a business degree and helped form a company that established casinos outside of Vegas and Atlantic City, New Jersey. He is the World Poker Tour’s chairman of the board. He has won cash in 18 WSOP events, including three WSOP bracelet wins. These occurred in 1989, 1992 and 1994.

NOTE: Berman is the first of two new members that were added to the Hall in 2002. The second member’s bio is in the next article in the series.

Learn more by reading WSOP Poker Hall of Fame Members Part Fourteen

References and Helpful Links:

WSOP Poker Hall of Fame: Official World Series of Poker Online

WSOP: Players

PokerPages.com: Poker Hall of Fame

WSOP Poker Hall of Fame Nominations

Professional-Poker; Poker Hall of Fame; Paul McGuire

Wikipedia: Poker Hall of Fame

Diane has more than 20 years experience in the casino industry in Nevada. She doesn’t just know how to play poker; she also knows how to deal the game.

Article source: http://sports.yahoo.com/news/poker-hall-fame-members-part-thirteen-203900621--spt.html

Poker Hall of Fame Members Part Fourteen

admin — Thu, 17 May 2012 21:54:53 +0000

This is continued from WSOP Poker Hall of Fame Members Part Thirteen

The thirteenth article in this series covered the WSOP Poker Hall of Fame Member of 2001 and the first of two members from the WSOP Poker Hall of Fame Member of 2002. This included short bios for both Stu Ungar and Lyle Arnold Berman.

This article will continue from there with the second member from 2002. This article will cover the WSOP Poker Hall of Fame member of 2002, as well as the Hall of Fame member for 2003.

WSOP Poker Hall of Fame Member of 2002 (Continued)

Johnny Chan, is usually referred to as either The Great Wall of China or The Orient Express. Chan was born in China in 1957. His family moved from China to Hong Kong, then to Phoenix, Arizona and eventually settled in Houston, Texas. Chan was the first poker player to appear on the big screen when he portrayed himself in the poker movie Rounders, which brought him fame. As of this writing, he is still actively playing poker and has won cash in 44 WSOP events, including 10 total WSOP bracelet wins. He is tied with Doyle Brunson for second place in all-time WSOP bracelet victories.

WSOP Poker Hall of Fame Member of 2003

Bobby Baldwin is commonly called The Owl and was the only member inducted to the WSOP Hall of Fame in 2003. He was born in Tulsa, Oklahoma in 1950 and presently lives in Las Vegas, Nevada. He is famous for bringing class to poker and becoming the youngest (at the time) WSOP world champion, which occurred in 1978. Baldwin is also known as a billiards player and casino executive. He first entered the casino industry as a consultant in 1982, but has gone on to become president, chief financial officer and chief executive officer. He has won cash in 19 WSOP events, including four WSOP bracelet wins. These occurred in 1977 (two this year), 1978 and 1979.

Learn more by reading WSOP Poker Hall of Fame Members Part Fifteen

References and Helpful Links:

WSOP Poker Hall of Fame: Official World Series of Poker Online

WSOP: Players

PokerPages.com: Poker Hall of Fame

WSOP Poker Hall of Fame Nominations

Professional-Poker; Poker Hall of Fame; Paul McGuire

Wikipedia: Poker Hall of Fame

Diane has more than 20 years experience in the casino industry in Nevada. She doesn’t just know how to play poker; she also knows how to deal the game.

Article source: http://sports.yahoo.com/news/poker-hall-fame-members-part-fourteen-204900386--spt.html

Tinley Park folding from video poker plan

admin — Thu, 17 May 2012 03:51:42 +0000

Tinley Park is poised to join the growing list of Illinois towns that have opted out of the state’s Video Gaming Act, making it illegal for bar and restaurant owners to have video poker machines in their businesses.

The Village Board Tuesday approved on first reading a revised ordinance that specifically takes the southwest suburban village out of the state’s video poker plans. A final vote will be taken at the next board meeting June 5.

Since 1961, Tinley Park has had an ordinance on the books that bans gambling devices in town, but recent questions about the state’s video poker system prompted officials to clarify the ban to avoid confusion and possible future court battles, officials said.

“We’ve got gaming interests coming into town talking to owners of locales that could host these things, and part of this is to protect people who don’t understand,” said Brian Maher, trustee and chair of the village’s Public Safety Committee. “They may tell them it’s OK to put these things in because the village hasn’t opted out. We don’t want to get into a court battle over whether that ordinance applies to this or not.”

Vendors who sell the machines have approached business owners in Tinley Park about the gaming terminals and have also sat in on meetings between village officials and business owners to discuss the gaming machines, officials said.

Terry Luby, owner of Luby’s Pub and Steakhouse in Tinley Park, said the village is hurting its businesses by banning video poker.

“The restaurants are going out of business in Tinley Park if they want to believe it or not, and here’s an avenue for us where we could possibly get some more revenue,” he said. “I don’t think it’s been thought through.”

Mayor Ed Zabrocki said Tinley Park is a family-oriented community where gambling has never been embraced.

“I think the community as a whole is much better off without gambling in it,” he said. “There is a potential for bringing elements into the community that you don’t want.”

More than 250 communities in the state either already have ordinances banning the gaming terminals or have opted out of the state’s Video Gaming Act, according to the Illinois Gaming Board’s website. The program was approved by lawmakers in 2009 to raise funds for infrastructure projects throughout the state. The state’s gaming board began accepting applications for video poker licenses from businesses last month, said Gaming Board spokesman Gene O’Shea.

arueff@tribune.com

Article source: http://chicagotribune.feedsportal.com/c/34253/f/622810/s/1f6d87e6/l/0L0Schicagotribune0N0Cnews0Clocal0Cbreaking0Cchi0Etinley0Epark0Efolding0Efrom0Evideo0Epoker0Eplan0E20A120A5160H0A0H44846840Bstory0Dtrack0Frss/story01.htm

Greek leftist attacks EU 'poker'

admin — Wed, 16 May 2012 21:51:08 +0000

16 May 2012
Last updated at 13:32 ET

Please turn on JavaScript. Media requires JavaScript to play.

Left-wing leader Alexis Tsipras: “If the austerity policies continue then the eurozone will be destroyed”

Greek left-wing leader Alexis Tsipras has accused the EU and German Chancellor Angela Merkel of “playing poker with European people’s lives” by insisting on austerity measures.

Mr Tsipras’ Syriza bloc is predicted to come first in new elections called for 17 June. Syriza wants to renegotiate Greece’s international bailout.

At least 700m euros (£560m; $890m) was withdrawn from Greek banks in the week until Monday, the Greek president said.

But there are no signs of a bank run.

‘Poverty and hardship’

In a BBC interview, Mr Tsipras said if the “disease of austerity destroys Greece, it will spread to the rest of Europe”.

Banks were profiting at the expense of thousands of Europeans – in Spain and Italy, as well as Greece – left in poverty and hardship, he said.

“Therefore the European leadership and especially Mrs Merkel need to stop playing poker with the lives of people,” Mr Tsipras said.

Syriza came second in inconclusive elections on 6 May, in which no party won a majority or was able to form a coalition.

Syriza refused to join any government which would continue with the austerity measures demanded by the EU and International Monetary Fund (IMF) in return for a bailout of 130bn euros ($170bn; £105bn).

Continue reading the main story

Panagiotis Pikrammenos

President of the Hellenic Supreme Administrative Court
Born in Athens in 1945
Studied law in Athens and Paris
Legal adviser to the Greek prime minister 1991-93
Also served as director of national school of judges

Source: Greek Council of State

Final talks to form a government failed on Tuesday, raising new concerns over Greece’s eurozone future.

Council of State president and judge Panagiotis Pikrammenos has been sworn in as interim prime minister to head a government until the elections next month.

“It is clear to all that our homeland is going through difficult times,” Mr Pikrammenos said after accepting the mandate from President Papoulias.

“We must safeguard its prestige and assure a smooth transition.”

He joked that he had read in the press that the English translation of his name was “embittered” – making him suited to be the last prime minister of a political era.

The rest of the government will be sworn in on Thursday.

“[Greek central bank chief George] Provopoulos told me there was no panic, but there was great fear that could develop into a panic,” President Karolos Papoulias was quoted as saying in minutes of talks on Tuesday with the political parties.

The Financial Times newspaper quotes Athens-based bankers as saying withdrawals exceeded 1.2bn euros on Monday and Tuesday – 0.75% of deposits.

Please turn on JavaScript. Media requires JavaScript to play.

Jose Manuel Barroso, President of the European Commission: “Don’t abandon the eurozone”

However, there were no signs of panic or queues outside banks in Athens on Wednesday.

European Central Bank (ECB) Governor Mario Draghi and Spanish Prime Minister Mario Rajoy both said on Wednesday they wanted Greece to remain in the euro.

“I want to state that the governing council’s strong preference is that Greece will continue to stay in the euro area,” Mr Draghi said.

The Governor of the Bank of England, Sir Mervyn King, warned that the eurozone was “tearing itself apart” and the UK economy would not escape “unscathed”.

He told a news conference that the euro area posed the greatest threat to the UK recovery, and there was a “risk of a storm heading our way from the continent”.

The interim government will be sworn in on Thursday.

Article source: http://www.bbc.co.uk/news/world-europe-18094714

Senate leader wants to legalize online poker

admin — Wed, 16 May 2012 03:47:09 +0000

Senate President John Cullerton floated the idea Tuesday of making Illinois an Internet gambling hub, suggesting the state could organize a major online poker game and gain worldwide popularity.

The Web-based gambling plan comes with little more than two weeks left until a scheduled May 31 adjournment and was rolled out as supporters of expanded casino gambling consider another push.

Cullerton, a North Side Democrat, said in a letter to his fellow legislative leaders and Gov. Pat Quinn that legislation to create a gaming division within the Illinois Lottery would help the state maximize the amount of money it could collect.

“Certain forms of iGaming, especially poker, rely on large pools of potential players, and states that move swiftly to design a system that captures the widest audience of participants will have an advantage in terms of long-range success,” Cullerton wrote. The goal is to make the state nimble enough to adjust to new Internet gambling approaches, Cullerton said.

Cullerton wants to pass the Web gambling idea before lawmakers leave town, noting that the U.S. Senate has legislation pending that could preclude Illinois and other states from reaping the benefits if they have not already started when a federal law is put on the books.

But Cullerton’s enthusiasm is not universal.

“If you allow Internet poker to be sanctioned by the state of Illinois, there are a whole lot of questions that need to be answered,” said Patty Schuh, spokeswoman for Senate Republican leader Christine Radogno of Lemont. “Being first isn’t necessarily a good thing.”

The state began offering online lottery ticket sales in March, days before an Illinois family from Red Bud near St. Louis bought a winning ticket at a convenience store and took home part of a $656 million jackpot. Through Saturday, Internet sales have generated nearly $1.8 million in Illinois, a lottery spokesman said.

Quinn and his office have maintained that lawmakers must focus on reining in the costs of health care for the poor and public employee pensions. A Quinn spokeswoman would not take a position on the Cullerton plan, saying the administration does not want to be distracted.

Quinn himself has downplayed discussion about moving forward with a gambling package before adjournment as lawmakers struggle with the details of Medicaid and pension reforms.

In the House, Rep. Lou Lang, D-Skokie, said he is preparing to move forward with a proposed expansion of casino gambling that also would add slot machines at racetracks — an idea that Quinn has opposed. Slot machines at tracks were in a previous measure that passed both houses last year. Cullerton never sent the bill to Quinn, who threatened to veto it.

Lang then tried a revamped version last fall, but it came up short. He’s thinking of giving that version another go now because discussions with Quinn’s office have produced no agreement.

“I cannot even pass a bill if the horse racing industry isn’t satisfied that it helps them into the future,” Lang said.

In other action, the Senate sent Quinn legislation that would ban the sale of shark fins in Illinois. Proponents of the law said the fins are sometimes used in soups. Sponsoring Sen. Tony Munoz, D-Chicago, compared the idea to a ban on ivory in the late 1980s.

rlong@tribune.com

agroeninger@tribune.com

Article source: http://chicagotribune.feedsportal.com/c/34253/f/622810/s/1f64e00d/l/0L0Schicagotribune0N0Cnews0Clocal0Cbreaking0Cct0Emet0Eillinois0Elegislature0E0A5160E20A120A5160H0A0H15160A10Bstory0Dtrack0Frss/story01.htm