Daniel Colman Shuns Spotlight After WSOP One Drop $15M Win

Daniel Colman Shuns Spotlight After WSOP One Drop $15M Win

Daniel Colman won the 2014 Big One for One Drop, earning $15.3 million, but has reservations about the game generally speaking. (Image: WSOP)

The absolute most important poker tournament of the season, traditionally, has constantly been the World Series of Poker Main Event. But in recent years, a brand new tournament has brought its place while the most lucrative occasion utilizing the prize pool that is biggest. It’s the $1 million buy-in Big One for starters Drop, the charity tournament that draws the best advantages and some of the amateur players that are richest around. The first One Drop tournament was held in 2012, while the follow-up this year as soon as once again produced the biggest purse regarding the poker year.

42 players turned out for the 2014 Big One for One Drop, and poker that is 23-year-old Daniel Colman walked away with a life-changing prize of simply over $15.3 million along with his first WSOP bracelet. The win that are massive vaulted Colman to sixth all-time in the Hendon Mob competition poker earnings list, with more than $18.2 million in profession winnings.

This year’s version was more heavily tilted in favor of career poker players while the first One Drop tournament was roughly evenly split between high-rolling pros and ultra-rich amateurs. There were about 30 professionals one of the 42 entrants, and ultimately, the battle for the spot that is top down to two full-time poker playe Read More

Caesars at War with Investors Over $24 Billion Debt

Caesars at War with Investors Over $24 Billion Debt

Caesars CEO Gary Loveman says their business shall not be held hostage by speculators.

The battle between Caesars Entertainment and its bondholders was ramped up a notch this week as the casino giant filed a lawsuit against a large percentage of its investors, claiming these are typically trying to impede the company’s efforts to restructure its financial obligation process, a procedure that is necessary to avoid bankruptcy.

Despite being the casino that is best-known in the world, Caesars’ long-term financial obligation is colossal, standing at an industry all-time high of $23 billion, which outstrips the bankrupt city of Detroit. In May, the organization announced a means of debt restructuring, which, while not eliminating any debt that is long-term would wipe out more than $1 billion of payments due in 2015.

The process, according to Caesars Chairman and CEO Gary Loveman, would ‘lay the building blocks for both significant de-leveraging and value creation at Caesars Entertainment.’

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‘Upon conclusion of the credit facility amendment … Caesars will have added headroom under its upkeep covenant, providing Caesars with additional security to execute its company plan,’ he added. ‘If Caesars successfully lists its equity securities, this independent listing should help facilitate the eventual raising of equity as well as liability management and debt decrease initiatives.’

Ho Read More

Christie Promises Jobs For Casino Workers. Under fire, Governor Chris

Christie Promises Jobs For Casino Workers. Under fire, Governor Chris Christie: ‘I am plugged in, i will be listening and we am working.’

New Jersey Governor Chris Christie has been challenged by casino workers over jobs, as three of the city’s casinos face imminent closing. Christie, who had been at Ocean City Town Hall to discuss retirement reforms, was greeted on their arrival by a team of workers from the threatened Revel, Showboat and Trump Plaza, chanting ‘Save our Jobs’ and ‘Five Year Promise.’

Each year to bring more flights to the Atlantic City airport, promote more convention business and raise private investment into the casino market in 2011 Christie issued a five-year plan that promised to fix the New Jersey economy, offering millions of dollars.

Revel was a ingredient that is key Christie’s designs for Atlantic City. Conceived before the recession, construction of the Revel project started in 2008, simply because the downturn that is economic, and Revel Inc found itself in financial dire straits, particularly when backers, Morgan Stanley, pulled out soon after.

The entire task has been a complete tragedy, consistently losing profits since it opened in 2012 and more recently hemorrhaging $2 million per week

Christie, for who Revel represented the promise of a gleaming, revitalized Atlantic City, intervened with a $261 million buck bailout in income tax credits and loan that is new hopeless to understand $2.4 billion project right through to conclusion.

Has Read More

5 Million Japanese Gambling Addicts, Study Claims

5 Million Japanese Gambling Addicts, Study Claims

A popular pachinko that is japanese: Pachinko is a pinball / slot hybrid gambling game unique to Japan. (Image: tokyo-foreigners.com)

We may not think of Japanese gambling addicts as soon as we think for the mostly formal, extremely courteous island nation, but that doesn’t mean there aren’t any. Has Japan got a gambling issue?

As the country prepares to open up itself up to legalized and regulated casino gambling, a new study may offer lawmakers pause for thought. Some 5.36 million individuals in Japan, or 4.8 % of the adult population, may be problem or pathological gamblers, claims a report commissioned by the Japanese Ministry of wellness, Labor and Welfare, and that’s a lot more than any other country that is developed.

The Kurihama Medical and Addiction Center quizzed 7,000 randomly selected grownups about their gambling practices pertaining to popular Japanese betting pastimes, such as horse racing, online casinos, Pachinko, slot machines and boat race. They were expected questions such as if they had ever lent cash for gambling, or whether gambling had ever triggered disruptions inside their family members life.

Of the 7,000 participants, 4,153 gave valid responses from which scientists were able to extrapolate that 8.7 percent of guys and 1.8 percent of women in Japan is being addicted to gambling.

The amount of gambling addiction in its population than most developed economies, where the average is generally aroun Read More