On June 4th, Pokerstars CEO Mark Scheinberg signed a consent order of forfeiture of $50 million dollars in a settlement with the U.S. Department of Justice. The settlement is a final resolution of the Black Friday case where the U.S. allegedly claimed Scheinberg’s involvement and the CEO refutes said allegations of receiving “PokerStars Distributions,” directly and/or indirectly, from the PokerStars Companies.
The settlement states that Scheinberg agreement to resolve this dispute and forfeits to the United States the sum of $50 million (the “Forfeited Funds”), as full and final resolution of any and all claims by the United States.
The consent order of forfeiture also releases the possibility of admission of wrongdoing, culpability, liability or guilt on behalf of Mark Scheinberg or any of his respective agents or employees past or present.
It was also made clear that Scheinberg’s consent of forfeiture was not a part of the settlement resolved with Pokerstars and the DoJ from July 2012 and that the CEO is barred from making claims against the United States or any of its agents or employees that probable cause was not sufficient in regards to the forfeit the Forfeited Funds.
The Kings Bill
The news of the “King’s Bill” has been getting quite a bit of attention as it proposes to states or Native American tribes the right to opt-out of a federal system and keep their own internal gaming practices plus allowing online lotteries for U.S. states.
The Internet Gambling Regulation, Enforcement and Consumer Protection Act of 2013 claims that “Absent Federal limitations and enforcement, State regulation of Internet gambling, including consumer safeguards, could vary widely from State to State, and States could have difficulty enforcing Internet gambling restrictions within their borders, especially against out-of-State operators.”
In regards to the “King’s Bill” Sen. Harry Reid thinks that the bill that authorizes everything, weakens any chance of a strong online poker bill revival and doubts King’s bill would pass.
“I felt for several months now that I don’t see any movement on this,” Reid said. “I don’t see anything happening.”
Ohio Looks to Online Poker?
Internet cafes ban pending, a decline of over 5% combined from April in land based casinos, a revenue decrease as outlined by the Ohio Casino Control Commission reports revenue from its four casinos reached $72 million for the month of May. This significant decrease from the previous month may result in the state missing its projected gambling revenue for the year by some $350 million.
Ohio’s expected revenue from land-based gambling operations is used to meet budget regulations and with the state’s racetracks are also failing to reach the winner’s circle with regard to annual revenue projections could mean the possibility of poker regulation for the state.
WSOP Up to Date Results
- Jonathan Taylor Wins Event #14: $1,500 No-Limit Hold’em ($454,424)
- Tom Schneider Wins Event #15: $1,500 H.O.R.S.E. ($258,960)
- Mark Radoja, Winner of Event #16: $10,000 Heads-Up No-Limit Hold’em ($331,190)!
- Athanasios Polychronopoulos, Winner of Event #17: $1,500 No-Limit Hold’em ($518,755)
- Taylor Paur Wins Event #18: $1,000 No-Limit Hold’em ($340,260)
- Davidi Kitai Wins Second Career Bracelet in Event #19: $5,000 Pot-Limit Hold’em ($224,560)
Perspective’s Weekly update for June 3rd has J Todd taking a look at New Jersey’s newest consultant, as the New Jersey Division of Gaming Enforcement hires Mario Galea, former Malta Lotteries and Gaming Authorities, LGA Chairman. Plus industry news from Holland, WSOP and more.