Uncategorized__ Caesars Reports Mixed Third Quarter Results, WSOP TV Ratings Also Mixed
World Series of Poker champ Joe McKeehen had a $7.68 million payday this week, the WSOP also helping the financials that are third-quarter Caesars.
Caesars Acquisition Company (CAC), the investment arm in Caesars Growth Partners (CGP), released its third quarter profits for 2015 and the outcomes are mixed.
The parent company to Caesars Interactive Entertainment, the World number of Poker and several casinos Planet that is including Hollywood Harrah's New Orleans, plus the Horseshoe Baltimore, CAC reported total new profits jumped to $601.2 million within the three months ended September 30, an increase of nearly 24 %.
Not all the news was good, CAC also revealing that its net income from continuing operations ended up being simply $20.5 million, a 71 percent drop year-on-year.
Caesars Acquisition's CEO Mitch Garber had no qualms rotating the negatives into positives, saying his organization remains 'encouraged by the performance that is strong of assets.'
Interactive Stays Active
The highlight of Q3 filing by CAC was again its Caesars Interactive Entertainment (CIE) supply, the division reporting $194.5 million in net revenues, a 20.4 percent yield compared to Q3 2014.
CIE is responsible for the WSOP brand name along with Caesars Palace Las Vegas and lots of gaming that is social including Bingo Blitz, Slotomania, and Caesars Bingo.
'Our Interactive Entertainment business continues to come up with results that are outstanding primarily from our market leading social and mobile games business,' Garber stated.
Another bright spot in that unit is of course the World Series of Poker, the game's most famous tournament concluding its 46th installment this week in Las Vegas.
World Variety of Poker Holds
In 2014, the November Nine suffered a drop that is rather considerable viewership on ESPN for the 2 days of coverage. A total of 1.15 million people tuned in for the finale as Martin Jacobson outlasted Felix Stephensen and finisher that is third-place November Nine beginning big stack Jorryt Van Hoof.
The reduced score compared to 2013 when Ryan Reiss survived amateur Jay Farber had been credited to non-Americans playing three-handed, and also three players whom competed in rather stoic manners.
In an effort to reignite interest and a larger television audience, ESPN and the WSOP included a 3rd night of November Nine coverage in 2015, and it seemingly have at the least halted the trend that is downward poker TV marketability.
Though Sunday's first night don't crack the Nielsen's top 100 cable programs, its finale on Tuesday landed smack in the center at #50 with 1.147 million viewers tuning in at 9:30 pm to watch commanding chip leader Joe McKeehen fend off Josh Beckley and amateur Neil Blumenfield.
' I do not want to speak for ESPN, but we're pleased with just what we see from the reviews,' WSOP's Seth Palansky told the Las Vegas Review-Journal. 'This is probably a path forward.'
By all accounts, the WSOP got what it really was searching for compared to last year's event: three Americans, an amateur underdog, and a rather talkative big stack.
Needless to say, it didn't get everything it sought as having finisher that is 11th-place Negreanu reach the Niner might have paid enormous dividends.
McKeehen's gigantic lead, beginning Tuesday night of play by having a better than three-to-one chip advantage over Blumenfield and Beckley could have also disengaged some people who rightly assumed this thing was very long over.
DFS Could be Outlawed By DOJ By End of Year As Rumors Swirl
DFS stakeholder: New England Patriots owner Robert Kraft holds equity in DFS site DraftKings. (Image Kevin C. Cox / Getty NA)
Daily fantasy sports (DFS) could soon be announced illegal at the level that is federal the Department of Justice (DOJ), in accordance with a Washington DC-based unnamed source who spoke to The New York Post this week.
In mid-October, it was reported by The Wall Street Journal that the DoJ had begun an investigation into the company models of the industry's biggest hitters, after DraftKings' customers had reportedly been contacted by FBI agents and questioned about their interactions using the company.
The investigation is probable to center around the legal question of whether DFS is exempt, as it claims, from the Unlawful Web Gambling Enforcement Act (UIGEA) of 2006.
'Cauldron of Day-to-day Betting'
The authors associated with the act created a carve-out for fantasy sports at the behest of this sports leagues, but the season-long fantasy sports of 2006 were some sort of far from DFS as it exists today.
In reality, one of UIGEA's authors, previous Republican Representative for Iowa Jim Leach, publicly denounced DFS a few weeks ago as a 'cauldron of daily betting,' and added that there was 'no credible way dream sports betting can be described as not gambling.'
In accordance with The New York Post's supply, the DOJ is probably to come quickly to the exact same conclusion, and is likely to 'take some action before the end of the entire year.'
All Dressed Up and Nowhere to Get
Then only with a regulatory license if the source's claims are accurate, it's possible that the DOJ will declare the activity a gambling venture in the same bracket as sports betting, as Nevada has done, which could mean that only those states with the right to license sports betting, (which are Nevada, Delaware, Montana and Oregon), could theoretically allow their residents to engage in fantasy sports, and.
None of these states have regulated online sports gambling, but, because its illegal under the Wire Act, making DFS nowhere to go.
Meanwhile, those states which have legalized dream sports and declared it to not be a game f opportunity, such as Kansas did earlier this year, could have to rethink their stance.
The major sports leagues, many of whom are stakeholders within the DFS industry, may also have to give consideration to their own positions in the light of the vocal opposition to sports gambling.
New York Lawsuit
Both Robert Kraft, whom owns the New England Patriots, and Jerry Jones, owner of this Dallas Cowboys, both have equity in DraftKings, for instance. The NFL strictly prohibits its workers, players and group owners from playing or marketing any form of gambling. Meanwhile, both the NBA and MLB have actually purchased shares in fantasy activities operators.
Today, DraftKings and FanDuel sued filed lawsuits to challenge the judgment associated with the New York attorney general's office that DFS is illegal in the state and that the 2 sites must stop their operations there.
DraftKings stated in its lawsuit that New York Attorney General Eric Schneiderman's decision amounted to 'strong-arm tactics' that were 'defying the guideline of law.'
Worldwide Poker Index and USA TODAY Sports Partner to 'Sportify' Game
Alexandre Dreyfus gained a partner that is vital his quest to sportify poker, the businessman landing a cope with USA TODAY Sports to cover their future Global Poker League. (Image: pokerlistings.com)
The worldwide Poker Index (GPI) and USA TODAY Sports Media Group are joining strengths in a shared mission to 'sportify' the overall game of poker and revolutionize exactly how it's played.
Acquired by online entrepreneur Alexandre Dreyfus in 2012 under his Mediarex sports and entertainment company, the GPI runs TheHendonMob.com, poker's biggest database in the world, and is set to introduce the Global Poker League (GPL) in very early 2016.
12 franchised teams spread around the world will encompass the GPL, players rated in the top 1,000 of the GPI available to be drafted to the rosters that are five-person.
United States Of America TODAY Sports, a leader that is global sports reporting, will help keep tabs on all the latest developments and results.
'The partnership will give you an essential platform to showcase our innovative new events and to promote the players rated into the worldwide Poker Index,' Dreyfus said in a press release. 'It's great to truly have the support and passion of an industry frontrunner like USA TODAY Sports, whose team shares our vision to 'sportify' poker.'
In the event that You Build It…
In theory, Dreyfus' reasons to transform poker into a game that will be marketed and digested on comparable lines to professional sports makes sense that is perfect. Poker's origins date straight back to long before many of the world's favorite sports were created.
It stays to be seen whether poker fans enjoy watching the game just as much as they enjoy playing it.
Poker's Super Bowl happened earlier this week, the 46th World Series of Poker (WSOP) crowning its $7.68 million champ on Tuesday night. The ESPN broadcast attracted 1,105,000 million viewers, fine for poker but dismal for sports.
Here's a look during the other big four sports audiences in 2015:
Super Bowl: 114.5 million
World Series, Game 5: 17.2 million
NBA Finals, Game 6: 23.25 million
Stanley Cup, Game 6: 8 million
Dreyfus isn't alone in thinking that poker has the potential to become a attractive sport for casual gamblers and even non-players.
Last July, he secured $4.9 million in money from outside investors to promote and build the GPL.
Additional capital shall be raised through the selling of the 12 franchises, and then ideally admission sales to tournaments.
One discussion that came up at this year's WSOP Main Event had been the idea of implementing a play clock. The GPL will play heads-up and six-handed matches with set time limits of 30 to 45 minutes per level to make the game more engaging for audiences.
Each hand is followed by an 'action clock' that will count the player down's turn similar to speed chess or even the NBA.
Though terms of the partnership weren't disclosed, it's apparent USA TODAY Sports is also buying into Dreyfus' blueprint. The media group will need to assign journalists, producers, and digital creatives to protect the GPL headlines.
'The Global Poker Index has done more than any other organization to unify poker,' United States Of America TODAY Sports VP Jason Ford said. 'we are excited to working together to create a 24/7 digital poker destination.'