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Seminole Hard Rock Hotel & Casino Hollywood Announces Winners of 2022 Lucky Hearts Poker Open
Hollywood, Fla. (Jan. 28, 2022) – Seminole Hard Rock Hotel & Casino Hollywood concluded its 2022 Lucky Hearts Poker Open (LHPO) on Wednesday with the second biggest World Poker Tour (WPT) live field in its history. Besting 1,982 entries in the WPT LHPO Championship, Alexander Yen of Indianapolis, Ind. made history by winning $975,240.
“It feels absolutely incredible,” said Yen. “I’ve never won a live tournament before. I don’t even think I’ve won online, so this is a pretty unreal feeling.”
The $3,500 WPT LHPO finale boasted a final prize pool of more than $6.3 million, easily exceeding the $2 million guarantee. The last 248 spots were paid $6,275 for a min-cash.
Championship Final Table Results:
1st: Alexander Yen Indianapolis, Ind. $975,240
2nd: Anton Wigg Stockholm, Sweeden $650,180
3rd: Daniel Lazrus Long Island, N.Y. $482,380
4th: Nicholas Verderamo Baltimore, Md. $361,130
5th: Josh Kay Delray Beach, Fla. $272,830
6th: Omar Lakhdari Paris, France $208,025
The 33-event LHPO kicked off on Thursday, Jan. 13 with the $600 Deep Stack No Limit Hold’em (NLH) opener. With a state record of 4,960 entries, the event more than doubled the $1 million guaranteed, creating a total prize pool of more than $2.5 million. Farid Jattin Miami, Fla. won the opener earning $306,832 after a heads-up deal with second place finisher Dustin Nelson Tallahassee, Fla.
Other signature event winners include:
Jonathan Jaffe Plantation, Fla. winning the $25,500 High Roller NLH (Re-Entry) for $574,085
James Romero Wilsonville, Ore. winning the $2,200 Deep Stack NLH (Re-Entry) for $167,285
Taylor Von Kriegenbergh Jersey City, N.J. winning the $5,000 Deep Stack NLH (Re-Entry) for $220,495
Poker Action will return to Seminole Hard Rock Hollywood with Seminole Hard Rock Poker Showdown March 24 – April 12, 2022, headlined by the $400 Deep Stack NLH series opener with a $500,000 guarantee and the $3,500 WPT Poker Showdown Championship boasting a $3 million guarantee.
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New York 51% tax on Sports Betting
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New York became the largest US state to embrace online sports betting but the high tax rate makes it close to impossible to compete.
The betting companies operating in the Empire State include DraftKings, FanDuel, Caesars Sportsbook, and Rush Street Interactive.
That'll make it harder for operators to profit off their customer bases in the state, Jason Ader, CEO of SpringOwl Asset Management and 26 Capital Acquisition Corp, tells MSN News.
"Everybody wants to be in New York because it's a trophy market in terms of the size of the state and its importance, but the tax rate is really prohibitive," Ader said. "It's very hard to make money in sports betting. Put 51% tax rate on it and it's maybe a bit more like a fool's gold rush than a gold rush."
As far as players go, these taxes will likely be passed down in the form of less attractive lines, bonuses and cashout fees. In the early months, companies may seek to reduce the affect on customers. These companies will also report all winnings to the IRS, something offshore sportsbooks and local bookies do not do.
Some websites licensed outside the state in offshore jurisdictions continue to do business in New York. Many, like Bovada, BetOnline and BetAdrian, have pulled out of that market.
Bloomberg: Bitcoin Death Cross Is Staring Down Bulls After a Painful Retreat
Bitcoin, the most popular means to send and receive funds within online gambling restrictive markets, has seen its price tumble in recent weeks.
The price of Bitcoin was up nearly 2% Tuesday late morning in the US to $42,486.90.
Bloomberg warned of crypto being mired in a drawdown as the Fed readies a stimulus withdrawal and the IMF issued its latest warning on crypto risk to financial markets.
From Bloomberg:
After one of roughest patches ever for Bitcoin enthusiasts, holders of the largest digital currency are facing an ominous technical price pattern with a name that suggests more pain ahead.
Known as a death cross, the measure shows up whenever an asset’s average price over the last 50 days drops below that of its 200-day moving average, an indication that its momentum is headed downward. And though it hasn’t occurred yet for Bitcoin, it looks to be on course to hit it later this week, according to Mati Greenspan, founder of Quantum Economics.
The latest dropoff among digital assets comes as policy makers look to commence a series of rate hikes as soon as March.
That indicator is supposed to be bearish but Bitcoin’s track record around death-cross formations remains murky, according to Bloomberg.
Then there's perhaps an even bigger concern that the International Monetary Fund has warned of parallels between cryptocurrency price moves and the stock market posing a risk to financial markets.
From Bloomberg News:
Analysts have long noted that Bitcoin -- and, therefore, other cryptocurrencies -- tend to move in tandem with stocks. Lately, that relationship has strengthened. Both have been volatile recently amid signs that the Federal Reserve was comfortable withdrawing stimulus at a faster pace than previously anticipated.
Investments in New Projects on Tap for 2022 in Atlantic City
Atlantic City’s casinos are forging ahead with ambitious new projects in 2022, even as the coronavirus pandemic continues to make it harder to do business.
And non-casino projects involving family entertainment, education and the offshore wind industry will take flight in the new year.
But challenges lurk, as well.
In-person gambling revenue at seven of the nine casinos is down compared with 2019, before the pandemic hit. Sports betting and internet gambling revenue has filled some of the gap, but that money must be shared with third parties, including technology platforms and sports books, and is not solely for the casinos to keep.
A law passed signed by Gov. Phil Murphy in December gives the casinos some relief from big increases in payments they were due to pay to Atlantic City, Atlantic County and the schools system in lieu of property taxes.
A big unknown is how long and how seriously the COVID19 pandemic, and particularly the fast-spreading omicron variant, will affect customers’ willingness to come out and gamble in person in 2022.
And a big challenge is right around the corner when New York begins allowing people to bet on phones or other mobile devices anywhere in the state, as soon as January but almost certainly in time for the Super Bowl in February.
Gambling industry executives and analysts expect New Jersey to lose at least 20% of its sports betting volume as New York residents who formerly had to cross over into New Jersey to bet will be able to do it at or close to home.
Mark Giannantonio, president of Resorts casino, said he is “tremendously optimistic for a great year” in 2022.
Starting in February, Resorts is renovating its rooftop pool, adding a retractable roof to enable it to be used year-round. Resorts also is investing $5 million into new table games and slot machines, remodeling its high-limit slots area, and creating a new VIP Asian-themed room.
The Ocean Casino Resort plans to begin a $75 million project in spring or summer to finish 12 floors of hotel rooms that were never completed when the casino first opened as Revel in 2012.
Caesars casino will start work in 2022 on a new theater and resident show due to open in the first quarter of 2023. The project will incorporate the facade of the former Warner Theatre from 1929, which is currently part of the casino’s exterior facing the Boardwalk.
Also planned for Caesars in 2022 is a new restaurant opened by a hospitality company involving actor Robert De Niro that also will renovate hotel rooms there. Caesars Entertainment is partnering with Nobu Hospitality for a project to be called Nobu Hotel Atlantic City.
Bally’s will unveil 750 renovated hotel rooms, a redone hotel lobby and bar, and an indoor-outdoor entertainment venue in 2022.
A $100 million indoor water park to be built next to the former Showboat casino, which now operates as a nongambling hotel, plans a ground breaking for early 2022.
Atlantic City will host a three-day country music concert on the beach in August headlined by Luke Bryan and Morgan Wallen.
Construction is to begin in 2022 on a new ShopRite supermarket in Atlantic City, designed to end the city’s status as a “food desert” without a major supermarket. The project should open in 2023.
Stockton University hopes to complete a new student residence hall in the city in 2022.
Atlantic City will play a big role in the burgeoning offshore wind energy industry. Atlantic Cape Community College plans to open a wind energy workforce training center on its city campus in the fall, and wind developer Orsted hopes to start work in 2022 on a maintenance and operations center in Atlantic City to support its offshore wind projects in the area.
And a plan that has gotten little attention outside of Atlantic City but which will affect most visitors to the city is due to begin in 2022.
The city plans to reduce Atlantic Avenue, one of its two main north-south thoroughfares, from two lanes in each direction to one lane in each direction, in the name of pedestrian safety.
But many residents and businesses oppose the plan, predicting that traffic that is already difficult to navigate under current conditions will become even worse with only one lane in each direction.
(AP)
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