Fantasy Aces Files for Bankruptcy, Can’t Pay Players

Fantasy Aces Files for Bankruptcy, Can’t Pay Players

Fantasy Aces’ situation seems to be alarming for its customers who’re unable to withdraw their funds. If the stricken company has co-mingled clients’ funds with operating costs, then the states which have regulated DFS have a duty to prosecute.

Daily fantasy sports (DFS) operator Fantasy Aces filed for bankruptcy this week after having a rescue that is last-ditch by competitor Fantasy Draft fell through.

Alarmingly for players, it appears from the bankruptcy filing that the company is unable to pay more than $1 million of players’ funds, and so it has co-mingled customer money with its running expenses.

‘The Fantasy Aces team truly regrets to announce that people are unable to sustain our web site and business operations effective January 31st 2017, filing for protection under Chapter 7 bankruptcy law,’ the organization told its clients on Wednesday.

‘After spending more than a year attempting to secure long-lasting capital, including recent negotiations with two notable organizations which subsequently failed to close, we’re left by having an unresolvable monetary burden. We have unfortunately exhausted every feasible financial option with no success,’ the California-headquartered DFS company concluded.

Will Regulated Jurisdictions Prosecute?

Consumer protections and the importance of operators to segregate player funds was a major driving force behind states using actions to regulate the DFS industry last year.

If Fa Continue reading

Melco Crown Calls Sheldon Adelson’s $10 Billion Bet on Japan, Hard Rock Scrambling for Partners

Melco Crown Calls Sheldon Adelson’s $10 Billion Bet on Japan, Hard Rock Scrambling for Partners

Melco Crown Entertainment won’t be intimidated by Las Vegas Sands billionaire Sheldon Adelson’s comments this week that he’s ready to spend up to $10 billion on building a casino in Japan.

Melco Crown CEO Lawrence Ho says there’s no cap on how much his company is willing to spend on an integrated casino resort in Japan.

Hong Kong businessman Lawrence Ho, the billionaire son of Stanley Ho who held a gambling monopoly in Macau for 40 years, told reporters soon after hearing of Adelson’s pledge that his company is prepared to invest even more. During the same investor conference in Tokyo, Ho explained, ‘We’ll absolutely spend whatever we need to win.’

Japan legalized commercial casinos last fall, but hasn’t determined the specific regulations for the newly liberalized industry. The country’s parliament is working to decide how many gambling licenses will be issued, but the general consensus is that just two properties will be authorized.

In a press release unveiling Melco Crown’s integrated resort concepts for Japan, Ho added, ‘There currently is no predetermined cap on our intended investment. I prefer not to constrain our dreams… with price tags, particularly at this early stage.’

Melco Crown Entertainment was founded in 2004 through a partnership between Melco International Development and James Packer’s Australian Crown Resorts.

Between Rock and Hard Place

With Adelson, a man w Continue reading

Seminole Play Free Pokies Online Tribe Contests Judge Ruling on Slots-Like Gaming Machines

Your house bill passed a committee vote last week and the Senate bill is considered by the total flooring this week. According to Manhattan federal court prosecutors, Mr. Tribal officials warned that those re payments could stop, if no action is taken against the circulation and installation regarding the ‘pre-reveal’ gaming pokies games to play for free devices.

Mr. It’s recently became understood that Florida-headquartered caf&eacute and casino; string operator Hard Rock International would choose the shuttered home. Walters that helped the second benefit from trades first in Clorox Inc. then in Apple stock.

Back 2011, Mr. Despite Mr. The gambling compact secured the Seminoles with blackjack exclusivity on the first five years of its duration free online pokies no deposit. The Seminoles argued that the products were very much like slot machines and that the court that is recent breached the 2010 video gaming compact and their exclusivity, in specific. A year and a half later in 2015, he pulled the Trump Taj Mahal casino from bankruptcy, only to close the property.

Icahn may have communicated information that is non-public Mr. He’s got committed to a few casino free pokies games properties over time. Mr. Icahn produced bid to acquire Clorox.

Icahn, which may among the factors why prosecutors have actually targeted the billionaire investor within the visible case. The Blue Sky variation 67 products feature ‘pre-reveal’ games that require players to press a preview button before having the ability to actually play. Former Dean Foods Chairman, Thomas Davis, had presumably supplied the course owner with guidelines that assisted him improve his trading edge. Federal authorities advertised that they could provide proof Mr.

Walters had bought Clorox stock several days before the takeover offer ended up being made and sold free no download pokies it several times l Continue reading