Sports Betting Legalization as Polarizing as National Politics, New Poll Finds

Sports Betting Legalization as Polarizing as National Politics, New Poll Finds

Sports betting legalization is on the minds of many state politicians across the country, and gaming companies are licking their chops at the potential prospect of taking bets on pro and college sports.

America is split on Donald Trump’s presidency, and the public also can’t seem to make up its mind when it comes to sports betting legalization.

But the topic of ending myfreepokies.com sports gambling prohibition in the United States and repealing the Professional and Amateur Sports Protection Act (PASPA) is about as polarizing of an endeavor as picking between Donald Trump and Hillary Clinton for president.

According to a new poll conducted by Seton Hall University’s Sharkey Institute, 46 percent of Americans support legalization, while 42 percent said it would be a bad idea. Thirteen percent of respondents said they weren’t sure where they stood.

Passed in 1992, PASPA bars states from allowing sports betting markets to operate. Nevada, Montana, Delaware, and Oregon were granted exemptions from the federal statute due to already having some sort of sports gambling when the legislation was passed, but today only the Silver State takes full advantage of its immunity.

Polling Positives

Though the sports betting legalization research shows that Americans today are divided, the consensus should tilt in favor of ending the ban in the coming decades. That’s because Seton Hall found that 67 percent of those aged 18 to 29, and Continue Reading

FantasyDraft Bails Out Fantasy Aces, Will Spend Player Balances

FantasyDraft Bails Out Fantasy Aces, Will Spend Player Balances

FantasyDraft will rescue the customer balances associated with the stricken and bankrupt Fantasy Aces internet site, its CEO announced on Monday in the RotoGrinders DFS forum.

FantasyDraft CEO Steve Krombolz said his company is stepping in so that they can save the ‘lifeblood associated with industry.’ The majority that is vast of Aces customers will be paid in cash, while bigger balances will be topped up with FantasyCash.

FantasyDraft was regarding the verge of acquiring the site month that is last it pulled out of the offer citing ‘issues identified during our homework.’ It in fact was a move that quickly propelled Fantasy Aces towards chapter 5 bankruptcy.

Bankruptcy filings quickly unveiled the messy truth behind Fantasy Aces’ situation: the company had failed to segregate player funds from the operational costs and owed its customers $1.3 million.

An account placed in the filings as ‘Players Account’ included just $2,419. Although the business listed assets of $1.8 million, that may be liquidated to pay creditors, in addition stated it had liabilities of $2.96 million.

In short, Fantasy Aces could not pay its customers.

99.6 Percent to Receive Cash

‘As members of this DFS community focused on doing things the right way, we feel that individuals should do our part to protect the lifeblood for the industry, you, the players,’ wrote Steve Krombolz, CEO and Co-Founder of FantasyDraft.

‘So, we have decided to Continue Reading

MGM Resorts Misses Fourth-Quarter Projections, but Springfield Casino Construction Ahead of Schedule

MGM Resorts Misses Fourth-Quarter Projections, but Springfield Casino Construction Ahead of Schedule

MGM Resorts posted improved fourth-quarter revenues in 2016 compared to the previous year, but the generated income fell far short of projections.

MGM Resorts CEO Jim Murren is encouraged heading in 2017 despite a disappointing fourth quarter for his company.

The Las Vegas-headquartered gaming and hospitality company reported net income of nearly $70 million for the final three months of the year. That translates to four cents per share, a far cry from the analysts’ consensus estimate of 21 cents for the quarter.

Though the company’s new property in Washington, DC, appropriately named National Harbor, brought in big money for MGM, and performance improved at the conglomerate’s 10 venues in Las Vegas and Atlantic City’s Borgata, the convention space underperformed.

Regardless of coming in well under fiscal expectations, CEO Jim Murren painted the earnings data in a rosy light.

‘The achievement of key financial and strategic milestones demonstrates our continued focus on driving profitability,’ Murren said in a release. ‘We are excited about the outlook for 2017.’

Investors on Wall Street don’t normally take the bait, and value numbers over words. Traded on the New York Stock Exchange, shares of MGM Resorts fell as much as nine percent following the financial announcement.

For the complete year, MGM generated a net income of $1.24 billion, or $1.94 per share. That’s a substantial im Continue Reading