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  • Antonio Esfandiari’s Double Check-Raise Shocks High-Stakes Poker Table

    Antonio Esfandiari’s Double Check-Raise Shocks High-Stakes Poker Table

    Antonio Esfandiari, known as “The Magician” in poker circles, has made a splashy return to high-stakes action. In a recent appearance on PokerGO’s No Gamble No Future, Esfandiari pulled off an audacious double check-raise, leaving the table buzzing and viewers in awe.

    The move not only showcased Esfandiari’s poker prowess but also highlighted the banter and mind games that have made him a fan favorite over the years. Here’s how the hand unfolded.

    A Full House on the Turn

    Esfandiari started the hand with 8♠ 6♠ and a stack of $313,000. The flop came A♣ 8♥ 6♥, giving him two pair. True to his reputation for deceptive play, Esfandiari checked, as did the other three players in the hand.

    When the 8♣ landed on the turn, Esfandiari’s hand improved to a full house. Again, he checked, letting Brandon Steven, who held J♣ 4♣, bet $4,000 with a flush draw. Jennifer Tilly folded, but Esfandiari sprang into action with a check-raise to $13,000. Steven, with $160,000 behind, made the call.

    A Flush and a Trap

    The river brought the 3♣, completing Steven’s flush. Esfandiari, unfazed, checked once more, setting up the perfect trap. Steven, sensing an opportunity, bet $27,000.

    Esfandiari then executed his second check-raise, this time to $79,000, pushing the pot over $141,000. Steven, visibly uncomfortable, began a lengthy deliberation.

    Table Talk and Tension

    As Steven wrestled with his decision, the table talk added to the drama. “Six-eight, huh? Probably flopped a set maybe,” Steven mused, trying to piece together Esfandiari’s possible hands.

    Esfandiari remained stoic, a hallmark of his gameplay, but couldn’t resist adding a comment. When Steven revealed, “I have a flush,” Esfandiari quipped, “You’re going to be a real big star.”

    Steven continued to analyse the hand aloud. “I called your check-raise on the turn, and you check-raised the river again. Man, that’s freaking ballsy as hell. How do you know I’m going to bet?”

    Eventually, Steven called, and Esfandiari raked in a pot worth $193,300. The Magician’s play had worked to perfection, demonstrating the same brilliance that earned him millions during poker’s boom years.

    A Career of Iconic Moments

    Esfandiari has long been one of poker’s most charismatic players. His resume includes two World Poker Tour titles (2004, 2010) and three World Series of Poker bracelets. His most memorable win came in 2012, when he triumphed in the $1 million buy-in Big One for One Drop, taking home $18.4 million—the largest single payout in poker history.

    Despite stepping back from the game in recent years to focus on his family, Esfandiari has been dipping his toes back into the high-stakes waters. His return has been marked by success, including a significant win on Hustler Casino Live and a notable appearance at Global Poker’s Table Talk, where he played alongside Olympic gold medalist Michael Phelps and Formula 1 stars Charles Leclerc and Carlos Sainz Jr.

    Why This Hand Resonates

    Esfandiari’s double check-raise was a masterclass in reading his opponent and manipulating the action. It also highlighted his unique ability to blend strategic brilliance with entertaining table presence. Moments like these remind fans why Esfandiari became such a beloved figure during poker’s golden era.

    His mix of psychological warfare, bold moves, and genuine charm has cemented his status as one of the game’s greats. And if his recent form is any indication, The Magician is far from done conjuring memorable moments at the poker table.

  • Paraguay Approves Major Gambling Law Reform to End Monopolies and Tighten Oversight

    Paraguay Approves Major Gambling Law Reform to End Monopolies and Tighten Oversight

  • Switzerland and Liechtenstein Join Forces to Tackle Gambling Addiction with New Agreement

    Switzerland and Liechtenstein Join Forces to Tackle Gambling Addiction with New Agreement

    Switzerland and Liechtenstein have entered a groundbreaking partnership to address gambling addiction more effectively across their borders. Starting January 7, 2025, a new bilateral agreement ensures that gambling bans in one country are reciprocally enforced in the other, marking a significant milestone in player protection.

    Cross-Border Bans to Close Loopholes

    Under the agreement, anyone banned from Swiss casinos—both terrestrial and online—will now be unable to gamble in Liechtenstein, and vice versa. This reciprocal enforcement is set to cover Switzerland’s 100,000 existing gambling bans and Liechtenstein’s exclusion lists, creating a unified front against gambling addiction.

    Swiss casinos are legally obligated to exclude individuals who display signs of gambling addiction, gamble beyond their financial means, or refuse to provide proof of their financial stability. Similar measures apply in Liechtenstein.

    A critical feature of this system is affordability checks. Players who fail these checks or whose financial status is deemed unstable are immediately banned from gambling. Voluntary exclusions and bans initiated by concerned family members also fall under the scope of these protections.

    Industry Response and Broader Implications

    The Swiss Casino Association has praised the agreement, calling it a significant step toward better player protection. A spokesperson highlighted that in the past, individuals banned in Switzerland would cross the border to gamble in Liechtenstein, exploiting regulatory gaps.

    This collaboration addresses that loophole by enabling casinos in both countries to share exclusion lists. Officials hope this cross-border model can inspire similar agreements across Europe, further strengthening protections for vulnerable individuals.

    But the new agreement has limitations. While it targets gambling in licensed casinos, it does not tackle the growing problem of illegal online gambling. In Switzerland alone, unlicensed platforms account for 40% of the online gambling market, allowing banned individuals to gamble without restrictions.

    The Shadow of Illegal Gambling

    Illegal online gambling presents a major challenge. These platforms not only undermine local bans but also dodge tax obligations, exacerbating the regulatory hurdles. Experts warn that such operations endanger players by bypassing safeguards designed to promote responsible gambling.

    The Swiss Casino Association has called for stricter action against these platforms, urging authorities to clamp down on illegal operators and explore measures to extend gambling bans to other European countries.

    Switzerland is not alone in facing this issue. Nations such as Germany, Belgium, and Sweden have reported similar struggles with black-market operators dominating significant portions of their online gambling sectors. Despite regulatory efforts, many players continue to be lured by the accessibility and lack of oversight on these platforms.

    Gambling Addiction in Numbers

    Over the past 20 years, Swiss casinos have enforced 100,000 gambling bans to protect individuals at risk. These bans, combined with strict affordability checks, form the backbone of responsible gambling policies.

    The agreement with Liechtenstein significantly expands the impact of these measures. By integrating bans across borders, the partnership underscores the importance of affordability checks and shared accountability in tackling gambling addiction.

    • Cross-Border Enforcement: Shared exclusion lists between Switzerland and Liechtenstein.
    • Affordability Checks: Verification of financial stability remains central to player protection.
    • Family-Initiated Bans: Protections include exclusions requested by family members.
    • Voluntary Bans: Individuals can self-exclude to prevent future gambling harm.

    A Step Forward, but More Work Ahead

    The new collaboration is a step forward in addressing gambling addiction, yet the broader issue of illegal gambling persists. Industry leaders and regulators must address this growing threat to ensure the long-term success of responsible gambling initiatives.

    Switzerland and Liechtenstein’s agreement sets an example for regional cooperation. Whether this model can extend to other European nations remains to be seen, but the hope is clear: a united approach to tackling gambling addiction and protecting vulnerable players.

  • SL Green CEO in Line for $10 Million Bonus if Caesars Times Square Casino Bid Succeeds

    SL Green CEO in Line for $10 Million Bonus if Caesars Times Square Casino Bid Succeeds

  • Maryland and Virginia Lawmakers Eye Online Casino Legalization in 2025

    Maryland and Virginia Lawmakers Eye Online Casino Legalization in 2025

    State legislators in Maryland and Virginia are gearing up to debate the legalization of online casino gambling in 2025, a move that could further expand the U.S. iGaming market. With both states drafting bills to regulate and tax digital gambling platforms, this legislative effort could pave the way for new revenue streams while addressing concerns raised by traditional casino operators.

    Maryland’s Push for Online Gambling: HB 17

    In Maryland, Delegate Vanessa Atterbeary is leading the charge with House Bill 17 (HB 17), pre-filed ahead of the upcoming legislative session starting on January 8. The bill proposes legalizing and regulating online gambling under the supervision of the Maryland State Lottery and Gaming Control Commission (MSLGCC).

    This isn’t Maryland’s first attempt at iGaming legislation. A similar effort in 2024 passed the House but failed in the Senate. This year, HB 17 introduces updated provisions to address prior concerns while positioning Maryland as a potential leader in online gambling.

    • Licensing Structure: The bill grants iGaming licenses to existing video lottery operators and sports betting facilities. It also offers five additional licenses to qualified new applicants, ensuring competitive opportunities.
    • Fees and Renewals: Operators must pay a $1 million application fee, with license renewals costing 1% of their average annual revenue every five years.
    • Tax Allocation: Revenue would be channelled into education, problem gambling programs, and horse racing funds, aiming to maximise public benefits.
    • Promotional Deductions: Operators can deduct 20%-35% of promotional play expenses from taxable revenue during their first five years, encouraging market growth.
    • Social Equity Guidelines: The bill includes provisions to support applicants from economically disadvantaged areas.
    • Multi-State Player Pooling: Maryland could join the Multi-State Internet Gaming Agreement (MSIGA), allowing interstate poker and potentially boosting player engagement.

    However, the bill isn’t without opposition. Brick-and-mortar casinos, including Maryland Live!, have expressed concerns about online gambling cannibalising their revenues. As lawmakers deliberate, they must carefully weigh the economic opportunities against the potential risks to existing casino businesses.

    Virginia’s Legislative Approach

    Virginia is also poised to explore the online gambling frontier, with Senator Mamie Locke pre-filing a bill for discussion during the legislative session from January 8 to February 22. The proposed legislation aims to create a regulatory framework similar to Maryland’s but tailored to Virginia’s unique market dynamics.

    • Tax and Fees: Operators would face a 15% tax on adjusted gross revenue and a $1 million licensing fee. Licenses would remain valid for five years, providing stability for businesses.
    • Retail and Digital Integration: Existing retail casinos could apply for digital licenses and partner with up to three online platforms, enabling a hybrid gambling ecosystem.
    • Branding and Advertising: Platforms must adhere to strict branding guidelines, including unique secondary brands for poker operations. Advertising must prominently feature responsible gambling information.
    • Legal Age and Application Process: The legal gambling age is set at 21, with a 30-day application window for operators to secure licenses.

    By regulating online casinos, Virginia hopes to capture revenue from unregulated gambling platforms and direct it toward public initiatives such as education and workforce development.

    Balancing Revenue and Responsibility

    Both Maryland and Virginia are framing their proposals as tools to modernise their gaming industries while addressing public needs. Proponents argue that legalising online gambling offers significant economic benefits without increasing taxes or public spending. The potential for job creation, increased state revenues, and enhanced funding for education and social programs is driving much of the support for these bills.

    Critics, however, remain sceptical. Traditional casino operators fear that online gambling could erode their customer base, while some policymakers worry about the social implications of expanded gambling access. Responsible gambling advocates are also urging legislators to prioritise safeguards for at-risk individuals.

    Industry Context: A Growing Market

    Nationally, Maryland and Virginia are joining a growing list of states considering iGaming legislation. Currently, six states—Delaware, Michigan, Nevada, New Jersey, Pennsylvania, and West Virginia—are part of the Multi-State Internet Gaming Agreement. This compact facilitates interstate poker and could provide a blueprint for Maryland and Virginia to expand their reach.

    The U.S. iGaming market has seen remarkable growth in recent years, with online casinos generating billions in annual revenue. As more states legalise digital gambling, experts predict continued expansion, driven by consumer demand and technological advancements.

    Key Takeaways for 2025

    While debates in Maryland and Virginia are still in the early stages, the outcomes could significantly impact the broader U.S. gaming landscape. If successful, these initiatives would not only bring online gambling to two key states but also signal a shift toward greater acceptance of iGaming nationwide.

    With legislative sessions set to begin in January, all eyes will be on the negotiations, amendments, and compromises that will shape the final bills. Whether online casinos become a reality in Maryland and Virginia by the end of 2025 remains to be seen, but the stakes—financial, political, and social—are undoubtedly high.

  • Michigan Casino Dream Hits Roadblock: Little River Band Faces Major Setback

    Michigan Casino Dream Hits Roadblock: Little River Band Faces Major Setback

  • Jefferies Projects Sluggish U.S. Casino Growth in 2025, Macau’s Revival by 2026

    Jefferies Projects Sluggish U.S. Casino Growth in 2025, Macau’s Revival by 2026

    The casino industry faces a mixed bag of opportunities and challenges as it heads into 2025. According to Jefferies Equity Research, U.S. regional casinos will experience limited growth amidst rising competition and economic uncertainties, while Macau’s gaming revenues are expected to recover to pre-pandemic levels by 2026.

    U.S. Regional Casinos: Growth on a Tight Leash

    Jefferies analyst David Katz predicts constrained growth for regional casinos in the U.S., driven by increasing competition and macroeconomic uncertainties. Emerging markets such as Chicago, Indiana, Omaha, and Shreveport/Bossier City are poised to see new property openings, further tightening the competitive landscape.

    Marketing budgets, carefully controlled post-COVID, are likely to face renewed pressure as operators vie for customer loyalty. However, the report suggests that significant industry changes, such as shifts in leadership, ownership, or strategies, could occur by 2025.

    Las Vegas operators like MGM Resorts International and Caesars Entertainment find themselves at a critical juncture. Katz pointed out that while their current execution requires improvement, these stocks remain attractively priced, presenting investment opportunities that are “too inexpensive to ignore.”

    Las Vegas: A Tale of Supply and Demand

    Las Vegas’s unique position as a demand-driven market with limited new supply offers both stability and stagnation. Over the next two years, the city’s casino sector is expected to benefit from:

    • A strong event calendar
    • Growth in group and convention business
    • An aging population that may drive local casino traffic

    Despite these advantages, revenue is forecast to remain flat or show minimal growth due to closures at Tropicana Las Vegas and The Mirage on the Strip. Caesars and MGM, as market leaders, could emerge as key beneficiaries under these conditions.

    Wynn Resorts, known for its undervalued assets and strong execution, also stands out. Boyd Gaming is anticipated to perform better in 2025, buoyed by favorable year-over-year comparisons and progress on its Norfolk, Virginia, casino project. Meanwhile, Station Casinos faces potential growth obstacles tied to construction disruptions.

    Macau: A Gradual Path to Recovery

    In Macau, optimism surrounds a return to pre-pandemic revenue levels by 2026. China’s economic stimulus measures are expected to play a pivotal role in this recovery. However, growth in the region is projected to decelerate from 22.5% in 2024 to just 5% in 2025.

    Las Vegas Sands is well-positioned to capitalise on its focus on suite products and mass-market offerings, likely capturing market share from Wynn. Yet, non-gaming revenue—a focal point for Beijing’s diversification push—remains a challenge. Despite policy initiatives, non-gaming revenue in Macau dropped from $411 million in 2019 to $378 million in 2023.

    Jefferies’ Stock Adjustments Reflect Sector Outlook

    Jefferies made several upgrades and downgrades to casino stocks, reflecting their nuanced outlook:

    • Boyd Gaming: Upgraded from Hold to Buy, with a price target increased to $92.
    • Las Vegas Sands: Upgraded from Hold to Buy, with a price target raised to $69.
    • Station Casinos: Downgraded from Buy to Hold, with the price target reduced to $51.

    Other changes included:

    Stock Previous Target New Target
    Golden Entertainment $31 $32
    Monarch Casino & Resort $72 $88
    Penn Entertainment $21 $22

    Meanwhile, Churchill Downs and Bally’s Corp. retained unchanged ratings at $172 and $17, respectively, while Caesars, MGM, and Wynn saw lowered price targets to $43, $50, and $105.

    The Road Ahead: Adaptability and Strategy

    The casino industry may face a shakeup in 2025, with Katz emphasising potential changes in leadership, ownership, or strategic approaches. Shareholder activism is expected to shape Penn Entertainment’s focus on land-based operations and online gaming strategies.

    Despite challenges, the report underscores opportunities for investors and operators willing to adapt. For key players like Caesars, MGM, and Wynn, the next two years will test their ability to balance execution with market dynamics, paving the way for sustained relevance in a competitive landscape.

  • AGEM Index Drops 4.8% in December as Gaming Equipment Suppliers Face Mixed Market Performance

    AGEM Index Drops 4.8% in December as Gaming Equipment Suppliers Face Mixed Market Performance

  • Parisian Gaming Clubs Shut Amid Political Uncertainty, Straining Sector

    Parisian Gaming Clubs Shut Amid Political Uncertainty, Straining Sector

    Parisian gaming clubs, a cornerstone of local entertainment and significant economic contributors, have been shuttered since January 1. The closures stem from political upheaval following the French government’s collapse on December 5 due to a censure motion. This crisis has left 1,500 employees in financial limbo and threatens the stability of the sector.

    Thousands of Jobs and a Sector at Risk

    The gaming club closures have far-reaching consequences. Around 1,500 employees now rely on government-backed partial unemployment benefits, which cover 60% of their salaries. However, these payments fall short of easing the financial burden for workers or the businesses themselves. Fixed expenses like rent, utilities, and maintenance continue to mount, pushing some establishments to the brink of financial collapse.

    Independent gaming clubs are especially vulnerable. With minimal resources and dwindling cash reserves, many small operators are struggling to stay afloat. “This situation is terrible for the 1,500 families who work in the clubs,” said Sébastien Leclercq, General Manager of Circus Casino France, which operates Club Circus Paris.

    Leclercq explained that his company is providing additional unemployment supplements to employees for two months. However, he warned that this level of support cannot be sustained indefinitely. “We will not be able to last several months like this,” he cautioned during an interview with BFM Business.

    Government Support but Limited Action

    Efforts to stabilise the sector have been hindered by the political turmoil. While both the Ministry of the Interior and the Ministry of Labor have expressed support for gaming clubs, meaningful legislative intervention has yet to materialise.

    A government report outlining measures to ensure the long-term sustainability of gaming clubs was completed before the crisis but remains unacted upon. “The Ministry of the Interior and Labor support us: they are receptive and try to help us,” said Leclercq. Yet, the lack of an operational government has stalled progress.

    The clubs’ closure also impacts public finances. Parisian gaming clubs contribute significantly to tax revenues, generating a Gross Gaming Product (GRP) of €120 million in 2022. Of this, €50 million was allocated to public authorities, including €40 million for the State and €10 million for the Paris town hall. Club Circus Paris alone accounted for €20 million in revenue, with €16 million stemming from gross gaming revenue.

    Independent Clubs Face Bleak Prospects

    While major operators like Club Circus Paris have some capacity to weather the storm, smaller clubs are nearing their breaking point. Without swift intervention, these independent establishments could soon shutter permanently, further destabilising the sector.

    Leclercq highlighted the precarious position of smaller clubs: “Some independent clubs no longer have any resources and are in danger.” Fixed costs such as lease agreements and equipment maintenance continue to drain their finances despite the lack of revenue.

    The ripple effects could extend beyond the gaming sector. The closures have disrupted a local entertainment ecosystem that attracts visitors and supports related industries like hospitality and tourism.

    The Need for Urgent Legislative Action

    Industry leaders are urging the French government to prioritise reopening gaming clubs and enacting supportive policies. Without immediate action, the consequences could be dire for businesses, employees, and the broader economy.

    • Employee Well-being: Extended closures could deepen financial hardship for the 1,500 workers dependent on the sector.
    • Economic Losses: The cessation of gaming operations translates to significant losses for both businesses and public revenues.
    • Sector Viability: Independent clubs, which lack the financial buffers of larger operators, are at high risk of permanent closure.

    As the political stalemate drags on, the future of Parisian gaming clubs—and the livelihoods they support—remains uncertain.

  • Bet365 Returns to Profit in Fiscal Year 2023-24 Amid Revenue Growth and US Expansion

    Bet365 Returns to Profit in Fiscal Year 2023-24 Amid Revenue Growth and US Expansion

    Bet365, one of the world’s largest online sports betting companies, has made a strong comeback to profitability for its fiscal year ending March 31, 2024. Boosted by solid revenue growth and a push into the lucrative United States market, the company’s results reflect a blend of strategic investments and innovation in its offerings.

    Revenue Rebounds with 9% Growth

    The latest financial filing by Bet365 with Companies House paints a bright picture for the company’s performance. Group revenue surged to £3.72 billion ($4.65 billion), a notable 9% increase from the prior year’s £3.41 billion ($4.26 billion). The betting and gaming segment alone contributed £3.7 billion ($4.62 billion), matching the overall growth rate.

    Profit before tax for the betting segment soared to £626.6 million ($782.97 million), marking a significant turnaround. However, Bet365’s Stoke City FC business continued to struggle, reporting a widened loss of £30.3 million ($37.86 million) compared to £12.4 million ($15.49 million) the previous year.

    US Expansion: A Game-Changer

    CEO Denise Coates emphasised the importance of the company’s investments in the US, calling the expansion a “key driver” of the group’s success. Bet365 launched regulated betting operations in seven states, including Arizona, Iowa, Indiana, and Pennsylvania. The platform’s American footprint is seen as a pivotal growth area, with product launches tailored to local markets.

    The addition of new trading weeks and the enhancement of its Bet Builder tool also contributed to the year’s 11% rise in sports betting revenue. The Bet Builder feature now extends to sports such as boxing, cricket, and Formula 1, catering to a broader audience.

    Product Innovation and Challenges

    Bet365 continues to refine its offerings, adding value to both sports betting and gaming segments. Fantasy sports and virtual gaming were upgraded, with new languages like French and Latin American Spanish broadening the appeal to diverse audiences.

    However, the gaming segment’s revenue remained flat. Market challenges in live casino gaming dampened growth despite efforts to create more personalised user experiences. Innovations such as a revamped recommendation engine and exclusive live games, including the company’s proprietary Super Mega Ultra live game show, aim to boost engagement.

    Charity and Executive Pay in Focus

    Bet365 increased its charitable contributions significantly during the year, donating £127 million ($158.69 million), up 20.5% from the previous period. The majority of these funds (£120 million or $149.95 million) went to the Denise Coates Foundation, which focuses on community and health initiatives.

    Interestingly, Denise Coates herself took a major pay cut. Her annual salary dropped to £94.6 million ($118.21 million) from £220.7 million ($275.78 million) the previous year, reflecting the company’s focus on operational efficiencies.

    Stoke City FC and Regulatory Compliance

    A significant development in the year was the demerger of Stoke City FC, a football club historically linked to Bet365. The club, now fully owned by director John Coates, was delisted as a Bet365 asset in July 2024. The move incurred an estimated cost of £118 million ($147.45 million).

    Meanwhile, regulatory compliance remained a top priority for Bet365. The company is actively participating in the UK Gambling Commission’s pilot for financial risk checks, designed to promote responsible gambling. Under the programme, players with monthly net deposits exceeding £500 are flagged, with thresholds set to tighten in 2025.

    Ongoing Challenges and Legal Matters

    Despite its strong performance, Bet365 faced several challenges. The company is cooperating with an anti-money laundering (AML) investigation by Australian regulator AUSTRAC, initiated in March 2024. While enforcement action is uncertain, Bet365 has committed to full cooperation.

    Customer claims amounting to £19.9 million ($24.87 million) primarily stemmed from past activity in Germany and Austria. Bet365 is addressing these claims while maintaining a focus on compliance and growth in regulated markets.