Lee Travino, who bet on himself to win the 1971 Open Championship at 14-1 and blew away the field. (Image: bahl.blog.blogspot.com)
The globe’s most useful golfers are up in arms this week at the Open Championship in the UK, where they have been asked to sign a waiver to declare that they can not place bets on the result of the championship. Betting is one thing of a tradition for many players at the Open, because, of course, sports betting is totally legal and easily available in Britain. At the 1971 Open, Lee Travino famously bet £100 ($171) on himself at 14-1, which helped him to almost triple his award money as he blew away the field.
However, for the time that is first the Open, the R&A, the regulating human body regarding the game outside the US, has formally warned players that such behavior is now off-limits, despite the fact it claims the rules have been in place since 2011. It had been news to some. One player, whom wished to remain nameless, told ESPN he was handed the waiver, while his caddy expressed his delight that the ban did not extend to caddies that he was ‘shocked’ when.
We sense a real way around the rules with that one.
’30 Dudes in Violation’
Pro golfer Graeme McDowell gave an even more measured and response that is professional however, stating: ‘It’s really no various than exactly what we curently have in the European Tour and PGA Tour, so it doesn’t change any such thing.
‘Honestly I love to gamble,’ he continued, ‘just not on golf!’ he added quickly, lest there were any representatives through the R&A in the vicinity.
Alas, though, it seems that old habits die hard, as you player that is anonymous revealed to ESPN: ‘There’s probably … at least 30 guys in violation [of the no-bet waiver] already,’ the foundation unveiled, ‘and that number will be bigger by [the end of the week].’
The new regulations bring British golf in line with every single other sport on earth, which tend to frown on players betting regarding the outcome of an occasion in which they truly are participating. The English Football Association (FA) recently announced that, from the forthcoming period, all expert players in English soccer would be banned from wagering, not merely on competitions in which their team is included, as was previously the instance, but from all soccer matches anywhere in the world. The new hard-line FA rules could very well be the catalyst that has prompted the R&A to clamp down on its players.
Maintaining Sport Clean
R&A CEO Peter Dawson said: ‘I can say that this whole business of maintaining sport clean in terms of wagering is quite high in the IOC’s agenda at the moment, the other that we’re following very closely since it’s simply a killer to sport to think that any outcomes might have been predetermined. And I also don’t think that’s applying in golf. But we have to be vigilant.’
Meanwhile, those of us whom aren’t professional golfers, and whom reside in nations where such practices are legal, we are free to wager on the results of the Open Championship to our heart’s content. And maybe not just the result; many UK bookmakers are offering chances on anything from whether a player will create a cut to exactly how many bunkers he might hit.
In terms of an outright champion, Rory McIlroy is favorite ( at the time of this writing), at 5-1, in which he appears to be to be a solid choice if he are able to keep his composure up front, although a great outside bet might be Justin Rose at 16-1. He is been on a tear, having just won two tournaments on the bounce.
GTECH $4.7B IGT Acquisition to Create Gaming Superpower
GTECH’s $4.7 billion acquisition of IGT will gain both businesses and invite for some tax that is corporate (Image: gamblingnews.ca)
Two super heavyweights of the gaming industry are to merge in a $4.7 billion deal, as Italian company GTECH has announced its takeover of Las Vegas-based IGT this week, together forming the globe’s biggest end-to-end gaming company.
The two giants will combine to create a new company that is holding in the UK, with corporate headquarters in London and operating headquarters in Las Vegas, Providence, Rhode Island and Rome. It will, nonetheless, be listed on the New York Stock Exchange. GTECH may also assume approximately $1.75 billion in existing IGT web debt, making the purchase that is total approximately $6.4 billion.
GTECH is the largest operator of lotteries on the planet, buying 63 per cent for the international lottery market. It operates in all continents and across 52 countries, employing over 8,500 individuals. In 2012, it had profits of €3.08 billion ($5.14 billion). It also owns the iGaming software developer Wagerworks.
IGT, meanwhile, is the world’s manufacturer that is largest of gaming equipment, creating roughly 1 / 2 of all gaming machines in the United States. It’s offices in 11 countries, but has recently reported a decline in earnings and in March announced so it aussie-pokies.club would be forced to lay down seven % of its global workforce so as to truly save costs.
Deal ‘Defines the Future of Gaming Entertainment’
The two companies say that the deal allows them to capitalize on opportunities across global gaming market and that the group that is new be anticipated to experience revenues of over $6 billion with over $2 billion in profits.
‘Our company is extremely pleased to achieve a merger that is definitive with GTECH as a consequence of our exploration of strategic alternatives to maximize shareholder value,’ said IGT CEO Patti Hart. ‘ This combination that is outstanding of global leaders truly defines the future of gaming entertainment. Together we are uniquely positioned to produce the industry’s broadest and most portfolio that is innovative of items, solutions and services.’
For GTECH, the acquisition represents its arrival on the scene being a major player that is global the casino industry and certainly will also allow it to build on its presence in the United States gaming market where it currently operates lotteries. GTECH is dealing with far slow growth at home in the Italian market; based on Reuters, total net spending for gaming in Italy fell 6.6 percent this past year, while it rose 6.7 percent in the usa.
British Corporate Tax Breaks
Relocation to the UK, meanwhile, offers a slightly more tax regime that is favorable. According to The Wall Street Journal, the 2 businesses currently have an income tax rate in the high 30 percent range which would fall towards the mid-30s into the UK. The report notes that this might be element of a trend where a company that is large usually US, will acquire an overseas company so that you can produce a brand new company that can relocate to a country where it’s going to pay less corporate tax, although in this case the reverse is true.
‘This transaction is transformational for our business.’ said Chief Executive Officer of GTECH Marco Sala. ‘With restricted overlap in items and customers, the combined company will enjoy leading positions across all segments of the gaming landscape. It’s going to increase our global scale along with the full suite of offerings and customer that is robust across the client range, the new business will have unparalleled capabilities to deal with the ongoing convergence across global gaming segments.
‘ Our expertise across these segments and greater ability to invest in R&D will improve player experiences and benefit our business and government consumers. The transaction will significantly enhance our cashflow and strength that is financial and provide clear and achievable expense and revenue synergies,’ Sala included.
MGM Anticipated to Receive Maryland Casino Approval
An MGM casino would be just the latest development at National Harbor along Maryland’s Potomac River. (Image: JonBilousBlog.com)
MGM Resorts has been making some splashes that are big the East Coast, including gaining a license to construct in Springfield, Massachusetts. Now, with one approval that is last local regulators, MGM could see another complex built just miles from the nation’s capitol.
The Prince George’s County Council is expected to vote on 21 in favor of approving the construction of a $925 million casino complex in National Harbor, Maryland, just across from Washington D.C. over the Potomac River july. The place, which has already gotten many approvals from local and county officials, is expected to be opened in July 2016.
Casino License Already Approved
This last approval will come just months after MGM received the last of six casino gambling licenses offered by the state of Maryland. Groundbreaking on the casino could take place because early as come early july, and the business has already begun initial focus on the site in expectation of a approval process that is smooth.
The fairly easy regulatory procedure has been aided by the fact almost no opposition has emerged to the project. Pretty much everybody included is up to speed with the casino, which is expected to bring significant economic advantages to both Maryland and Prince George’s County.
Where there are disagreements, they have been primarily centered on the design associated with the casino, as well as exactly what the community can get from the revenues it creates. Concerns are raised in regards to the big LED video screens that are to be integrated into the signage for the casino, with some saying they could be a safety hazard and distract drivers in the I-295 highway. But the local planning board approved them, agreeing that they were an important part of the business and also the casino aesthetic.
That issue is the one hurdle MGM could have to clear at the County Council conference, as much locals have actually complained about the scope and size of the signs, a number of that are as big as 60 feet high and 100 foot wide.
‘This is not Las Vegas,’ said William Cavitt, president of the Indian Head Highway Area Action Council. ‘It just isn’t Atlantic City. It is not any other location where MGM is situated.’
Latest Development at National Harbor
The proposal would place a major casino resort just mins from Washington. MGM plans to build a one million square-foot facility, one that would consist of about 3,600 slot machines and 140 table games. There would also be a hotel that is 300-room, high-end restaurants and retail locations, and a concert theater.
When approved by the County Council, MGM would then be able to request the necessary permits to begin construction.
The casino would join a small but vibrant development on the banking institutions of the Potomac River. National Harbor first opened in 2008, and additions to the site have actually been ongoing ever since. The region, which covers not as much as two miles that are square currently has a convention center and six hotels, as well as numerous restaurants and shops. The Walt Disney business has planned to construct its own hotel resort at National Harbor, but backed out of the concept in 2011.