Here's the update, typed as he was talking, apologies if I missed anything. NO FURTHER SHUTDOWNS ANNOUNCED! Pause is EXTENDED through 1/15/2021.
Situation: We are at a critical point and here is why.
Encouraging news on vaccine: FDA granted emergency use. Western States panel approved.
First vaccine shipment on Monday, frontline healthcare workers to get immediate vaccination.
Did a test run for vaccine delivery process, will keep Nevadans posted.
Dr. Fauci predicted a surge on top of a surge, that's where Nevada is headed.
We are just now beginning to see the effects of the holidays. Small decline in cases and testing over the holiday, big surges now.
Seeing big increases in hospitalizations, 1700 Nevadans since Friday.
In Southern Nevada we have NOT peaked yet.
Protecting healthcare infrastructure is the main priority. Setting up hospitals in parking garages just in case.
No doubt our hospitals are seeing an increase in strain, as well as actual healthcare workers.
COVID deaths on the rise. 2539 Nevadans dead.
Statewide pause summary, talked about mitigation, capacity limits, etc.
As of November 30th, 74% Nevadans wore masks when leaving home. If we were at 95% compliance we would save more lives by Spring.
Noted that Nevadans are under stress, worried about health, jobs, school. Wants everyone to do what we can to reduce strain on hospitals.
EXTENDING CURRENT NEVADA PAUSE THROUGH JANUARY 15TH, NO ANNOUNCED SHUTDOWNS.
All current restrictions are still in place.
Sisolak says that if his health officials see cases rise more, he will shut more things down.
Sign an eviction moratorium in place tomorrow to protect Nevadans, through March 31st.
Better to leave Nevadans in homes versus in shelters and homelessness.
When people are evicted it becomes impossible to stay home, they will be forced outside and potentially spread COVID-19.
Talked about how tenants are still obligated to pay rent. Talked about rental assistance programs. Supported with federal assistance dollars, funds are low though.
Realizes this will be hard on landlords, asking landlords to continue to sacrifice and do more to help tenants. Promises to look into assistance for landlords.
Vaccine on the horizon, please continue to be strong. Fight the virus, not each other.
Says not a day goes by that he doesn't think about lives and our economic structure.
Acknowledges that we have record cases, but realizes that families are suffering, with little financing assistance.
Claims no winning options, picked whatever option hurts Nevadans the least.
Federal government has yet to grasp the complexity of our situation. Federal government says that states are not doing enough. Sisolak admits mitigation policies, our complete shutdown, would be best. However without funding and paying Nevadans to stay home, is not realistic. Says shutdowns don't work without people getting paid.
State is trying desperately to balance health and economy.
Families are teetering on the brink. We have lost 250,000 jobs, NV had highest unemployment rate in the country.
142,000 Nevadans have exhausted their UI benefits, won't be able to file again until March 2021, says NV needs more federal help.
State of Nevada had a savings account, a rainy day fund, which was their safety net. As of today, there is no more money. No more rainy day fund. CARES Act funding ends at the end of the year.
According to our state economist, another shutdown will put us in a just as bad or worse state than the Great Depression.
Says that if he could write a check to pay everyone, he would, but can't.
Gaming industry. Under the same or tougher restrictions as everyone else. Gaming Control Board is the most regulated business in the state.
When he thinks of the gaming industry, he loses sleep because under a state at home order, NV lost 250,000 jobs. Cooks, dealers, valet, entertainers, etc.
Gaming matters in this state. If we shut down again, state loses $52 million in tax revenue a month. That same revenue supports Nevadans, health, benefits, the safety we need. That's why he has kept the casinos open.
(Side note: so basically, casinos need to be open so that the state can fund UI and benefits for the State)
This week it was reported that NV has seen a 50% increase in opioid and drug death. Does not believe its a coincidence.
People won't be healthy if they lose their job, benefits, housing, etc.
Relied on the science and health officials to make decisions.
COVID-19 is the first and last thing he thinks about every day.
Praises healthcare workers for their sacrifices.
Says his blood boils when the federal government says that States do not do enough.
Says that everyone is stepping up, task force has gotten millions of masks and PPE. Had to do it themselves versus rely on the federal government.
Says federal government promised PPE, but help never came.
Invites McConnell to look at the hospital wards, foreclosed homes, to look at all affected Nevadans when he said citizens did not need the extra help.
Compromise is hard, but possible if both sides toss politics aside.
We must figure things out on our own, if not, more shutdowns will be forced.
Vaccine is on the way. Stay strong. Says he has made the best decision for our state all things considered.
Called upon all Nevadans to come together, again, to do this.
If we cannot control cases, he will impost further restrictions.
We are all frontline people, tired, worn out, ready to give up. We have a choice to think of things as every man for themselves, or to support each other and have each others backs.
Look after each other. Love our neighbors.
We face all challenges together. Nevada will make it through this. The end result will be based on how much we care for each other.
A Nevadan is testing positive every 40 seconds. 1 hour and 15 minutes a Nevadan dies.
Please, protect yourselves and one another by wearing a mask, washing hands, and socially distance.
13 of 17 counties flagged for elevated transmission.
State positivity rate record 16.5%.
Surpassed 2000 deaths and 2,416 cases in one day, new record.
Case rate growth at “wild fire level”.
All available models indicate Nevada is still a RED ZONE.
10% of all cases reported in the last seven days. 1 Nevadan per minute. Hospitals having record numbers of patients.
Patients being treated in parking lots, staffing shortages in hospitals due to workers in quarantine.
Community spread is resulting in outbreaks.
Main goal is to protect the public health system.
COVID is filling up hospital beds which threaten Nevadans resulting in poor access to non COVID related issues.
One inescapable conclusion, we are in a rapid upward curve. Time to act.
Balancing economy and health of Nevadans especially with the lack of diversity within our economy.
We are in a no win situation.
NOT issuing a shutdown, only restrictions.
Effective Tuesday at 12:01am. Statewide pause.
Three weeks.
Strengthening mask mandate. Requiring masks during private gatherings, especially with different households.
Reduce capacity in high risk areas.
Restaurants and bars: 25% capacity, indoor and outdoor. No more than 4 people per table. Reservations are required, no walkins allowed.
Bartops continue to be open.
Gyms, fitness, dance studios are now reduced to 25% capacity. Mask mandated inside at ALL times unless actively drinking. Intense workout exemption included. No mask, no workout.
Museums, art galleries, arcades, bowling alleys, amusement parks, etc 25%.
Gaming occupancy reduced to 25%.
Restaurants and bars inside casinos reduced to 25% capacity.
Public gatherings reduced to 50 people or firecode capacity to 25% whichever is less. Includes theaters, worship, casino showrooms, weddings, funerals, celebrations.
No large gathering plans are approved at this time. All large gatherings over these limitations must be cancelled.
Private gatherings restriction to 10 people or fewer from no more than two households, indoors OR outdoors. Face coverings now required in public AND private settings even with social distancing.
Thanksgiving to be spent only with household members.
Pause on adults and youth sports tournaments cancelled.
Retail stores are not effected by the pause capacity, can still operate at 50%.
Retail employees required to be outside to count patrons.
Every business venue is required to post new capacity limits. 25%.
What won’t change: brothels, strip clubs, night clubs remain CLOSED.
Hair and nail salons, spas, tattoo parlors, piercing establishments not affected by new pause.
Our casinos, hotels, restaurants and bars are restricted but remain open to protect our economy. Admitted schools are struggling. Schools closed and economy closed are not mutually exclusive. Both work hand in hand.
Protect vulnerable populations.
Children need our support, despite not being as prone to COVID, still are suffering the negative effects. Many students are lacking food, shelter, etc.
Asking us to stay strong and follow through restrictions, especially for our students and children. Citing student and child suicide due to pandemic.
Getting children back to school key for education, support, etc.
Nevada 3 week pause to assist with getting kids back to school sooner.
Remind local governments to implement stronger measures. Take action.
Statewide pause in effect for three weeks. During the pause they will monitor cases, transmission rates, and positivity rates.
If we slow the spread and plateau, they will evaluate if we need more time to pause or not. If numbers get better, they will consider loosening restrictions.
If the situation worsens, he will take stronger actions, more shutdowns such as indoor dining and gyms.
Doing all he can to avoid restrictions, but now it’s time to act.
We are too close to a vaccine to give up now. We do not have a vaccine yet, we just adhere to restrictions and do what we can to fix our own state.
Asking all Nevada leaders, to intensify efforts to educate everyone until vaccine happens until we fully reopen.
Citing Nevada’s independence and ability to make good decisions on our own. To protect each other.
13 of 17 counties flagged for elevated transmission.
State positivity rate record 16.5%.
Surpassed 2000 deaths and 2,416 cases in one day, new record.
Case rate growth at “wild fire level”.
All available models indicate Nevada is still a RED ZONE.
10% of all cases reported in the last seven days. 1 Nevadan per minute. Hospitals having record numbers of patients.
Patients being treated in parking lots, staffing shortages in hospitals due to workers in quarantine.
Community spread is resulting in outbreaks.
Main goal is to protect the public health system.
COVID is filling up hospital beds which threaten Nevadans resulting in poor access to non COVID related issues.
One inescapable conclusion, we are in a rapid upward curve. Time to act.
Balancing economy and health of Nevadans especially with the lack of diversity within our economy.
We are in a no win situation.
NOT issuing a shutdown, only restrictions.
Effective Tuesday at 12:01am. Statewide pause.
Three weeks.
Strengthening mask mandate. Requiring masks during private gatherings, especially with different households.
Reduce capacity in high risk areas.
Restaurants and bars: 25% capacity, indoor and outdoor. No more than 4 people per table. Reservations are required, no walkins allowed.
Bartops continue to be open.
Gyms, fitness, dance studios are now reduced to 25% capacity. Mask mandated inside at ALL times unless actively drinking. Intense workout exemption included. No mask, no workout.
Museums, art galleries, arcades, bowling alleys, amusement parks, etc 25%.
Gaming occupancy reduced to 25%.
Restaurants and bars inside casinos reduced to 25% capacity.
Public gatherings reduced to 50 people or firecode capacity to 25% whichever is less. Includes theaters, worship, casino showrooms, weddings, funerals, celebrations.
No large gathering plans are approved at this time. All large gatherings over these limitations must be cancelled.
Private gatherings restriction to 10 people or fewer from no more than two households, indoors OR outdoors. Face coverings now required in public AND private settings even with social distancing.
Thanksgiving to be spent only with household members.
Pause on adults and youth sports tournaments cancelled.
Retail stores are not effected by the pause capacity, can still operate at 50%.
Retail employees required to be outside to count patrons.
Every business venue is required to post new capacity limits. 25%.
What won’t change: brothels, strip clubs, night clubs remain CLOSED.
Hair and nail salons, spas, tattoo parlors, piercing establishments not affected by new pause.
Our casinos, hotels, restaurants and bars are restricted but remain open to protect our economy. Admitted schools are struggling. Schools closed and economy closed are not mutually exclusive. Both work hand in hand.
Protect vulnerable populations.
Children need our support, despite not being as prone to COVID, still are suffering the negative effects. Many students are lacking food, shelter, etc.
Asking us to stay strong and follow through restrictions, especially for our students and children. Citing student and child suicide due to pandemic.
Getting children back to school key for education, support, etc.
Nevada 3 week pause to assist with getting kids back to school sooner.
Remind local governments to implement stronger measures. Take action.
Statewide pause in effect for three weeks. During the pause they will monitor cases, transmission rates, and positivity rates.
If we slow the spread and plateau, they will evaluate if we need more time to pause or not. If numbers get better, they will consider loosening restrictions.
If the situation worsens, he will take stronger actions, more shutdowns such as indoor dining and gyms.
Doing all he can to avoid restrictions, but now it’s time to act.
We are too close to a vaccine to give up now. We do not have a vaccine yet, we just adhere to restrictions and do what we can to fix our own state.
Asking all Nevada leaders, to intensify efforts to educate everyone until vaccine happens until we fully reopen.
Citing Nevada’s independence and ability to make good decisions on our own. To protect each other.
Here's the update, typed as he was talking, apologies if I missed anything. NO FURTHER SHUTDOWNS ANNOUNCED! Pause is EXTENDED through 1/15/2021.
Situation: We are at a critical point and here is why.
Encouraging news on vaccine: FDA granted emergency use. Western States panel approved.
First vaccine shipment on Monday, frontline healthcare workers to get immediate vaccination.
Did a test run for vaccine delivery process, will keep Nevadans posted.
Dr. Fauci predicted a surge on top of a surge, that's where Nevada is headed.
We are just now beginning to see the effects of the holidays. Small decline in cases and testing over the holiday, big surges now.
Seeing big increases in hospitalizations, 1700 Nevadans since Friday.
In Southern Nevada we have NOT peaked yet.
Protecting healthcare infrastructure is the main priority. Setting up hospitals in parking garages just in case.
No doubt our hospitals are seeing an increase in strain, as well as actual healthcare workers.
COVID deaths on the rise. 2539 Nevadans dead.
Statewide pause summary, talked about mitigation, capacity limits, etc.
As of November 30th, 74% Nevadans wore masks when leaving home. If we were at 95% compliance we would save more lives by Spring.
Noted that Nevadans are under stress, worried about health, jobs, school. Wants everyone to do what we can to reduce strain on hospitals.
EXTENDING CURRENT NEVADA PAUSE THROUGH JANUARY 15TH, NO ANNOUNCED SHUTDOWNS.
All current restrictions are still in place.
Sisolak says that if his health officials see cases rise more, he will shut more things down.
Sign an eviction moratorium in place tomorrow to protect Nevadans, through March 31st.
Better to leave Nevadans in homes versus in shelters and homelessness.
When people are evicted it becomes impossible to stay home, they will be forced outside and potentially spread COVID-19.
Talked about how tenants are still obligated to pay rent. Talked about rental assistance programs. Supported with federal assistance dollars, funds are low though.
Realizes this will be hard on landlords, asking landlords to continue to sacrifice and do more to help tenants. Promises to look into assistance for landlords.
Vaccine on the horizon, please continue to be strong. Fight the virus, not each other.
Says not a day goes by that he doesn't think about lives and our economic structure.
Acknowledges that we have record cases, but realizes that families are suffering, with little financing assistance.
Claims no winning options, picked whatever option hurts Nevadans the least.
Federal government has yet to grasp the complexity of our situation. Federal government says that states are not doing enough. Sisolak admits mitigation policies, our complete shutdown, would be best. However without funding and paying Nevadans to stay home, is not realistic. Says shutdowns don't work without people getting paid.
State is trying desperately to balance health and economy.
Families are teetering on the brink. We have lost 250,000 jobs, NV had highest unemployment rate in the country.
142,000 Nevadans have exhausted their UI benefits, won't be able to file again until March 2021, says NV needs more federal help.
State of Nevada had a savings account, a rainy day fund, which was their safety net. As of today, there is no more money. No more rainy day fund. CARES Act funding ends at the end of the year.
According to our state economist, another shutdown will put us in a just as bad or worse state than the Great Depression.
Says that if he could write a check to pay everyone, he would, but can't.
Gaming industry. Under the same or tougher restrictions as everyone else. Gaming Control Board is the most regulated business in the state.
When he thinks of the gaming industry, he loses sleep because under a state at home order, NV lost 250,000 jobs. Cooks, dealers, valet, entertainers, etc.
Gaming matters in this state. If we shut down again, state loses $52 million in tax revenue a month. That same revenue supports Nevadans, health, benefits, the safety we need. That's why he has kept the casinos open.
(Side note: so basically, casinos need to be open so that the state can fund UI and benefits for the State)
This week it was reported that NV has seen a 50% increase in opioid and drug death. Does not believe its a coincidence.
People won't be healthy if they lose their job, benefits, housing, etc.
Relied on the science and health officials to make decisions.
COVID-19 is the first and last thing he thinks about every day.
Praises healthcare workers for their sacrifices.
Says his blood boils when the federal government says that States do not do enough.
Says that everyone is stepping up, task force has gotten millions of masks and PPE. Had to do it themselves versus rely on the federal government.
Says federal government promised PPE, but help never came.
Invites McConnell to look at the hospital wards, foreclosed homes, to look at all affected Nevadans when he said citizens did not need the extra help.
Compromise is hard, but possible if both sides toss politics aside.
We must figure things out on our own, if not, more shutdowns will be forced.
Vaccine is on the way. Stay strong. Says he has made the best decision for our state all things considered.
Called upon all Nevadans to come together, again, to do this.
If we cannot control cases, he will impost further restrictions.
We are all frontline people, tired, worn out, ready to give up. We have a choice to think of things as every man for themselves, or to support each other and have each others backs.
Look after each other. Love our neighbors.
We face all challenges together. Nevada will make it through this. The end result will be based on how much we care for each other.
A Nevadan is testing positive every 40 seconds. 1 hour and 15 minutes a Nevadan dies.
Please, protect yourselves and one another by wearing a mask, washing hands, and socially distance.
13 of 17 counties flagged for elevated transmission.
State positivity rate record 16.5%.
Surpassed 2000 deaths and 2,416 cases in one day, new record.
Case rate growth at “wild fire level”.
All available models indicate Nevada is still a RED ZONE.
10% of all cases reported in the last seven days. 1 Nevadan per minute. Hospitals having record numbers of patients.
Patients being treated in parking lots, staffing shortages in hospitals due to workers in quarantine.
Community spread is resulting in outbreaks.
Main goal is to protect the public health system.
COVID is filling up hospital beds which threaten Nevadans resulting in poor access to non COVID related issues.
One inescapable conclusion, we are in a rapid upward curve. Time to act.
Balancing economy and health of Nevadans especially with the lack of diversity within our economy.
We are in a no win situation.
NOT issuing a shutdown, only restrictions.
Effective Tuesday at 12:01am. Statewide pause.
Three weeks.
Strengthening mask mandate. Requiring masks during private gatherings, especially with different households.
Reduce capacity in high risk areas.
Restaurants and bars: 25% capacity, indoor and outdoor. No more than 4 people per table. Reservations are required, no walkins allowed.
Bartops continue to be open.
Gyms, fitness, dance studios are now reduced to 25% capacity. Mask mandated inside at ALL times unless actively drinking. Intense workout exemption included. No mask, no workout.
Museums, art galleries, arcades, bowling alleys, amusement parks, etc 25%.
Gaming occupancy reduced to 25%.
Restaurants and bars inside casinos reduced to 25% capacity.
Public gatherings reduced to 50 people or firecode capacity to 25% whichever is less. Includes theaters, worship, casino showrooms, weddings, funerals, celebrations.
No large gathering plans are approved at this time. All large gatherings over these limitations must be cancelled.
Private gatherings restriction to 10 people or fewer from no more than two households, indoors OR outdoors. Face coverings now required in public AND private settings even with social distancing.
Thanksgiving to be spent only with household members.
Pause on adults and youth sports tournaments cancelled.
Retail stores are not effected by the pause capacity, can still operate at 50%.
Retail employees required to be outside to count patrons.
Every business venue is required to post new capacity limits. 25%.
What won’t change: brothels, strip clubs, night clubs remain CLOSED.
Hair and nail salons, spas, tattoo parlors, piercing establishments not affected by new pause.
Our casinos, hotels, restaurants and bars are restricted but remain open to protect our economy. Admitted schools are struggling. Schools closed and economy closed are not mutually exclusive. Both work hand in hand.
Protect vulnerable populations.
Children need our support, despite not being as prone to COVID, still are suffering the negative effects. Many students are lacking food, shelter, etc.
Asking us to stay strong and follow through restrictions, especially for our students and children. Citing student and child suicide due to pandemic.
Getting children back to school key for education, support, etc.
Nevada 3 week pause to assist with getting kids back to school sooner.
Remind local governments to implement stronger measures. Take action.
Statewide pause in effect for three weeks. During the pause they will monitor cases, transmission rates, and positivity rates.
If we slow the spread and plateau, they will evaluate if we need more time to pause or not. If numbers get better, they will consider loosening restrictions.
If the situation worsens, he will take stronger actions, more shutdowns such as indoor dining and gyms.
Doing all he can to avoid restrictions, but now it’s time to act.
We are too close to a vaccine to give up now. We do not have a vaccine yet, we just adhere to restrictions and do what we can to fix our own state.
Asking all Nevada leaders, to intensify efforts to educate everyone until vaccine happens until we fully reopen.
Citing Nevada’s independence and ability to make good decisions on our own. To protect each other.
Why the NSAC stopped reporting payouts or a brief window into just how much influence the UFC/Zuffa/the Fertitta’s have in Nevada politics.
Up front, sorry for the very long post, I tried to be concise but there is a lot of information I had to try and whittle down. Late last night I found a post about Jessica Rose Clark only having $17 in her bank account. I went to the event’s wiki page to see what she was paid this past weekend. Weirdly, I found that the payouts weren’t listed, which they usually are on the wiki pages for Vegas events as Nevada and the NSAC have always disclosed show/win money. It turns out Nevada no longer discloses payouts. Because I’m a stubborn person I decided to see if I could find out why. I wrote a brief post about what I found in that thread, linked here, and someone mentioned that this should be it's own post. So I did a little more looking around and here is what I found: The change from disclosing to not disclosing payouts is a result of Nevada Senate Bill 29, which was passed in May of 2019 but has been in the works since at least 2017. The bill was sponsored by the Senate Committee on Judiciary. The committee's members are the following state senators: Nicole J. Cannizzaro – Chair, Dallas Harris- Vice Chair, James Ohrenschall, Marilyn Dondero Loop, Melanie Scheible, Scott Hammond, Ira Hansen, Keith F. Pickard. Source. The NSAC commissioner Staci Alonso spoke in favor of the bill in front of the committee in February of 2019. Source When I started looking into why these people would want to make this change, I thought about who benefits most from it. I decided to check for connections between any of the parties involved and the UFC/the Fertitta’s/WME. This is what I found. The chair of the committee that wrote and introduced the bill, Nicole J. Cannizzaro, at one point in time received a donation of $10,000 from Zuffa LLC, and $4500 from Station Casino LLC. Station Casino LLC is owned by the Fertitta brothers. Source, in the “Top Contributor category scroll down and click “see more contributors”. You’ll see Zuffa and Station Casino there. Repeat this process for later sources. Dallas Harris at some point received $2500 from Zuffa LLC. Source. Melanie Scheible also received $1000 from Zuffa LLC and $5000 from a Station Casino property at some point. Source, same process as last time. Ira Hansen recieved $2500 from Station Casino LLC at some point. Source. Committee member Keith Pickard recieved $5000 from Station Casino LLC and $1000 from Zuffa LLC at some point. Source. Committee member Marilyn Dondero Loop received $2500 from Station Casino LLC at some point. Source. Committee member Scott Hammond also received $1000 from Zuffa LLC DBA Ultimate Fighting Championship at some point. Source. He also received $5000 total from two Station Casino properties Source. There is more to Scott too. Scott was part of a situation where it was discovered that Nevada casino groups were paying substantially more than people were aware of to politicians by using different properties and businesses to skirt campaign finance laws. Scott apparently received $88,000 from these groups in 2017. Source. The companies involved aren’t named specifically in connection to Scott, but we know they are operating on behalf of Nevada casinos per the article. Again, the Fertitta’s own Station Casinos. We've seen with multiple state senators that they received money from more than one group owned by the Fertitta's. This creates an interesting situation because in the case of Scheible and Hammond some of their Station Casino money was trickier to find because it wasn't from the LLC, but rather an individual property under a different name. Are there more companies listed as corporate donors that we just don't know are owned by the Fertitta's? If so how much in total did each senator get? Now, these are all just corporate donation records. If Dana, the Fertitta’s, Ari, etc. donated as private citizens I can’t find it. This also doesn't include money donated to PACs operating on each politician's behalf. The NSAC commissioner who spoke on behalf of the bill to the committee, Staci Alonso, was at the time she was hired as NSAC commissioner an executive at Station Casinos. Source. What this all means is we don’t get disclosed payouts in Vegas anymore, which is bad for us and fighters. Fighters now lose the biggest event state disclosing this information which means they can’t use this information as leverage in their own contract negotiations. Now, to be clear there’s no direct proof that the UFC used its friends and their influence in Vegas to get this rule changed. Companies donate to politicians all the time. All we know for sure is there is money changing hands between friends and former majority owners of the UFC and these politicians and that this change benefits the UFC more than anyone else. I just thought all this was an interesting window in the world of Las Vegas politics, bureaucracy and MMA. TLDR: Zuffa/Station Casinos, owned by the Fertitta's, donated money to a bunch of politicians on a committee who then later was instrumental in making it so the NSAC no longer discloses payouts in Nevada.
[FNV] How to fix hitting the memory ceiling? Getting lots of Out of Memory CTDs.
When I was about to start a new playthrough, I initially loaded up heavily on mods. Way too heavily, in hindsight. Had multiple quest mods that added NPCs. Mods like The Living Desert that added even more NPCs. Versions of mods like Uncut Wasteland that adds even MORE NPCs. Had texture packs, as well. (NMC Small and Poco Bueno). Almost immediately I would get hit with an "Out of Memory!" followed by a CTD. Okay, fine, maybe I've got too much intensive stuff going on. I get it. So I got rid of both texture packs, got rid of nearly every major mod I had that added NPCs except for a couple I wanted to keep, and things seemed to be going okay until... Bam. Again. "Out of Memory!" -- CTD. Compared to the load orders I see other people have, I know for a fact my list is light -- In the sense that I don't have many "overhaul" mods, I don't have mods that upscale textures (aside from WRP), and no mods that throw hundreds of NPCs on the screen at once The majority of what I've downloaded are miniscule in both scope and in file size. You'll see in my Mod List below. Most of it is minor mods that either tweak certain gameplay elements, fix certain bugs or issues, or simply add individual items. And I know for a fact that I installed ALL of the essentials correctly (NVSE, NVAC, NVTF, 4GB Patcher, JIP-LN, YUP, JohhnyGuitar NVSE, MCM, etc.), I followed Gopher's 2020 Modding Guide on YouTube to the letter. The only thing I didn't install from his guide was a mod to change the UI -- I had a bad experience trying to mess with installing a UI mod a couple years ago, resulted in me having to uninstall and reinstall my entire game because I screwed up. I've sworn off from UI mods since then, I'm fine with just using the Vanilla UI. I'm not running an ENB, either. Regardless, after about 30 minutes of playtime, or, more often, entering/exiting interiors, I'm quickly greeted with O.O.M. messages. Here's my Mod List: ________________________ ADAM Reborn Alex's Backpack Mod Black Mountain Dish Explosion Restored Clarity - Orange Tint Remover Colonel Autumn Preset Dead Money Missing Return Options v2 Distributed Necklaces and Chains Economy Overhaul Explorer Perk Extended External Frame Backpack Fix for the Legion Armors FOV Slider Free the Slaves Fuckable Companions Functional Post Game Ending Gas Masks of the World Gun Runners Arsenal Merged Honest Hearts Letter Honest Hearts Rain Intimacy Overhaul JIP Improved Recipe Menu Just Loot Menu Just Vanilla Sprint Legion Quests Expanded Lonesome Road True Faction Allegiance Mojave Raiders Mojave Wildlife - FO3 No Chanced Spawns Version More Beard and Moustache Options NCR Trooper Overhaul No Peep Sight No Rain in Lucky 38 One HUD OneTweak (Fake Fullscreen) Prerelease Restored Primm Reputation Restored Project Nevada (Yes I know, it's an old mod, I'm just using it to get access to the equipment like the added guns, I've disabled pretty much every Core feature it attempts to implement, and I only have the Core, Equipment, and Rebalance modules installed) Rainy Days V2 Real Recoil Reload Animation Fix Return Vance's Gun Russell Simple DLC Delay Sneering Imperialist Expanded Stewie Tweaks The Courier (Armor Mod) UIO Ulysses Bark Fix Uncut Wasteland (The version that doesn't add extra NPCs) Unofficial Patch NVSE Wasteland Seeker Armor Weapons Animation Replacer Weapon Mesh Improvement Mod Weapon Retexture Project Weapons of the New Millennia ___________ Any relevant patches that exist for any of those mods listed above to ensure compatibility with other mods have already been downloaded and taken into account. I know that just from taking a first glance at my mod list, it looks like a lot. And yeah, I never said it was a "minimal" load order, but I like to think that it's still a pretty light load, especially since I've seen other people's load orders here. And I've seen the kind of intensive stuff they run in the game. And like I said, I originally had a bunch of stuff like Crowded Casinos, The Living Desert, Less Empty Primm, quest mods like New Vegas bounties, Courier's Cache, Depths of Depravity, etc. --- And all of that stuff has since been cut out of the list in order to lighten the game's strain. Literally the only NPCs I'm adding to the game, at this point, are more raiders in certain locations with Mojave Raiders, more animals in certain areas with Mojave Wildlife, and maybe a couple extra actors through Prerelease Restored and Uncut Wasteland. But surely, that's not enough to be making my game shit the bed, right? What could be going on that's causing these Out of Memory Crashes? My mod manager of choice is Vortex, for reference. Again, I followed Gopher's guide for modding New Vegas, and he used Vortex as well. So if you've got a problem with me using Vortex and wanna tell me all about how I should be using Mod Organizer 2 instead, take it up with Gopher. I personally prefer Vortex anyways. Has never given me more headaches than MO2 did. If anyone has any advice on how to handle this Out of Memory issue, I'm all ears. I've tried to narrow down my mod list to only the stuff I truly desperately want to keep in the game, but if there's something I need to get rid of I'm willing to do so. And I should mention I am playing this game on a gaming laptop that runs both this game and several newer titles perfectly fine. I'm not trying to run this game on a toaster, I have a heavily modded Skyrim Special Edition that also runs just fine, so it's not like my machine has a predisposition against Gamebryo engine, or anything like that. Thanks for reading.
It’s time Nevada joins the lottery with education being the proceeds recipient. All NV education systems need better funding. Although money itself won’t solve all the issues, initial funds could be used to hire talent that can. NV simply cannot attract talent and businesses when it has a lagging education system. Casino revenue from gaming is less than 50% of their total revenues, some reports show it’s less than 40%. After watching and standing in line at Primm, the casinos are already losing this revenue. Worse yet, it’s NV money going to benefit other states. NV cannot rely on the gaming world as the sole area to raise funding for education. A new revenue source is needed. The lottery vs taxes is simply the best approach. Write your elected officials today!
TEKK - Tekkorp Digital Acquisition Corp: Who's Who of Gaming Mgmt Teams!
Team has been involved in a substantial number of the digital media, sports, entertainment, leisure and gaming industries’ most significant merger and acquisition transactions, holding key positions at, and transacting with Scientific Games Corp, Inspired Gaming Group, FOX Bets, Ocean Casino Resort, Resorts International Holdings, PokerStars, DraftKings, Mohegan Sun, Caesars Entertainment Corporation, Harrah’s Entertainment,Tropicana Entertainment, Inc., TSG/Sky Betting & Gaming, Facebook, Inc, Wynn Resorts, Dubai World/MGM Resorts Here's all the Bios. These guys are stellar! TEKK closed at $10.30 today. Still cheap! If you don't like to read... you don't like to make money!!!! ---------------------------------------------------------------------------------------- Matthew Davey — Chief Executive Officer and Director Mr. Davey has over 25 years of experience within the digital media, sports, entertainment, leisure and gaming ecosystems, as well as experience in the public sector. He is an experienced public company executive officer and board member. He has served in executive management positions across the gaming technology arena. Over the course of Mr. Davey’s career, he oversaw more than ten mergers and acquisitions and over $1.2 billion in debt and equity capital raised to support the companies he has led. Most recently, Mr. Davey was Chief Executive Officer of SG Digital, the Digital Division of Scientific Games Corp. (“Scientific Games”) (Nasdaq: SGMS). SG Digital was established following the purchase by Scientific Games of NYX Gaming Group Limited (“NYX”) (formerly TSXV: NYX), where Mr. Davey served as Chief Executive Officer and Director. The NYX acquisition provided Scientific Games with a vehicle to significantly accelerate the scale and breadth of its existing digital gaming business, including the strategic expansion into sports betting. In his capacity as Chief Executive Officer of NYX, Mr. Davey developed and implemented a corporate strategy that generated strong revenue growth. Mr. Davey shaped company strategy to focus on digital gaming supplier platforms and content that provided various gaming operators with the underlying gaming and sports betting systems for their online gaming business. In 2014, Mr. Davey oversaw the initial public offering of NYX, and his experience in the digital media, sports, entertainment, leisure and gaming industries helped NYX recognize momentum as a public company. After the public offering, from 2014 to 2018, Mr. Davey oversaw seven acquisitions which helped establish NYX as one of the fastest growing global B2B real-money digital gaming and sports betting platforms. These acquisitions included: • OpenBet: In 2016, NYX completed the $385 million acquisition of OpenBet. This was one of the more complex and transformative acquisitions that Mr. Davey oversaw at NYX. Through securing co-investments from William Hill (LSE: WMH), Sky Betting & Gaming and The Stars Group (formerly Nasdaq: TSG, TSX: TSGI), Mr. Davey was able to get the acquisition from Vitruvian Partners completed successfully, winning the deal against much larger and well capitalized competitors. By combining two established and proven B2B betting and gaming suppliers, NYX was well positioned to provide customers with exciting player-driven solutions across all major product verticals and distribution channels. This allowed NYX to become the leading B2B omni-channel sportsbook platform in the market and the supplier to over 300 gaming operators globally with an extensive library of desktop and mobile game titles, including more than 700 on NYX platforms and more than 2,000 on the OpenBet platform. • Cryptologic/Chartwell: In 2015, NYX completed the $119 million acquisition of Cryptologic and Chartwell. The acquisition provided NYX with more than 400 titles of additional leading gaming content, a broader customer base, and direct exposure to PokerStars and Intercasino, part of the Gamesys Group (LSE: GYS) — two of the world’s largest online casino offerings. • OnGame: In 2014, NYX completed the distressed acquisition of OnGame, a premier poker content, platform and service provider. This acquisition provided NYX with one of the best poker products in the industry, access to several regulated jurisdictions, and a valuable talent pool that was instrumental in the growth of NYX. The addition of OnGame further established a path for NYX to continue its growth in both European and U.S. markets. These acquisitions, together with meaningful organic growth, increased NYX’s revenue from $24 million in 2014 to $184 million annualized in 2017. During that time, Mr. Davey helped build NYX to have over 200 customers in the global gaming industry and a team of 1,000 employees. Mr. Davey’s success at NYX ultimately led to its sale to Scientific Games for $631 million in 2018. Mr. Davey joined Next Gen Gaming, the predecessor to NYX, in 2000 as the Vice President of Technology, was appointed as Executive Director in 2003 and named Chief Executive Officer in 2005. Prior to that, he was the Senior Consultant for Access Systems, a company that specializes in the provision of back-end software for licensed online casinos. Prior to joining Access, Mr. Davey worked for the Northern Territory Government specializing in matters pertaining to the internet and e-commerce along with roles in the Department of Racing and Gaming. Mr. Davey received a Bachelor of Electrical & Electronic Engineering from Northern Territory University, Australia (also known as Charles Darwin University). Robin Chhabra — President Mr. Chhabra has been at the forefront of corporate acquisition activity within the digital gaming landscape for over a decade. His prior experience includes leading corporate strategy, M&A, and business development at two of the global leaders in the digital gaming industry, The Stars Group (“TSG”) and William Hill, and a leading supplier, Inspired Gaming Group (Nasdaq: INSE). Mr. Chhabra served on the Group Executive Committees of each of these companies. From 2017 to May 2020, Mr. Chhabra served as Chief Corporate Development Officer at TSG and, from 2019 to August 2020, he also served as the Chief Executive Officer of Fox Bet, a leading U.S. online gaming business which is the product of a landmark partnership between TSG and FOX Sports, a transaction which he led. During that period, Mr. Chhabra led several transactions which transformed TSG into the largest publicly listed online gambling operator in the world by both revenue and market capitalization and one of the most diversified from a product and geographic perspective with revenues of over $2.5 billion. Mr. Chhabra’s M&A experience is extensive and covers multiple global geographies across the digital gaming value chain and includes the following: • TSG/Flutter Entertainment Merger: In 2019, Mr. Chhabra led the TSG M&A team that was responsible for TSG’s $12.2 billion merger with Flutter Entertainment (LSE: FLTR). The merger between TSG and Flutter Entertainment is the largest transaction in the digital gaming industry to date. The combination created the largest publicly listed online gaming company with approximately 13 million active customers and leading product offerings, which include sports betting, online casino, fantasy sports and poker. The combined entity includes some of the world’s most iconic digital gaming brands such as Fanduel, Fox Bet, Sky Bet, PaddyPower, Betfair, PokerStars and SportsBet. TSG/Flutter Entertainment is one of the most geographically diverse digital gaming and media companies with leading positions in the United States, United Kingdom, Australia, Ireland, Italy, Spain, Germany and Georgia. • TSG/Sky Betting and Gaming (“SBG”): In 2018, Mr. Chhabra led the acquisition of SBG from CVC Capital Partners and Sky plc, Europe’s largest media company, in a transaction valued at $4.7 billion. At the time of the acquisition SBG was the largest mobile gambling operator in the United Kingdom and one of the fastest growing of the major operators having doubled its online market share in three years. The acquisition of SBG provided TSG with (a) greater revenue diversification, significantly enhanced expertise and exposure to sports betting just ahead of the judicial overturn of The Professional and Amateur Sports Protection Act of 1992 (PASPA) by the U.S. Supreme Court, (b) a leading position within the United Kingdom, the world’s largest regulated online gaming market, (c) improved products and technology as a result of the addition of SBG’s innovative casino and sports book offerings and a portfolio of popular mobile apps, and (d) expertise in deeply integrating sports betting with leading sports media companies, positioning TSG to create more engaging content, deliver faster growth and decrease customer acquisition costs. • William Hill (LSE: WMH): At William Hill, from 2010 to 2017, Mr. Chhabra served as Group Director of Strategy and Corporate Development where he led several transactions which contributed to William Hill’s transformation from a land-based gambling operator in the United Kingdom to a leading online-led international business. Mr. Chhabra led William Hill’s entry into the U.S. sports betting and online lottery markets with the acquisition of four businesses, including the simultaneous acquisitions of three U.S. sportsbooks, Cal Neva, American Wagering and Brandywine Bookmaking, in 2011 for an aggregate purchase price of $55 million. These businesses ultimately led William Hill to achieve a leading position in the U.S. sports betting market with a market share of 24% in 2019. Additionally, Mr. Chhabra played a key role in structuring William Hill’s successful joint venture with PlayTech Plc (LSE: PTEC) in 2008. The combined entity created one of the largest online gambling businesses in Europe at the time of its formation and led to William Hill’s buyout of Playtech’s interest for $637 million in 2013. Prior to the transaction, William Hill had struggled in its attempt to establish a strong online gaming platform and a meaningful presence outside the United Kingdom. Mr. Chhabra has also successfully completed four transactions worth over $1.2 billion in Australia, the world’s second largest regulated online gambling market, and various partnerships in Asia. Additionally, he completed several technology and media related transactions, including William Hill’s investment in NYX, where he worked with Mr. Davey on NYX’s transformational acquisition of OpenBet. Prior to working in the gaming sector, Mr. Chhabra was an equities analyst and a management consultant. Mr. Chhabra received a Bachelor of Science in Economics from the London School of Economics and Political Science. Eric Matejevich — Chief Financial Officer Mr. Matejevich is a seasoned gaming executive with extensive experience in both the online gaming and traditional casino industries. From February to August 2019, he served as Trustee and Interim-Chief Executive Officer of Ocean Casino Resort (“Ocean”) (formerly Revel Casino, which had a construction cost of $2.4 billion) in Atlantic City, where he successfully led the management team through an ownership change and operational turnaround effort. Over the course of seven months, Mr. Matejevich managed to reduce the property’s weekly cash burn of $1.5 million to an annualized cash flow run rate in excess of $20 million. Prior to Ocean, from 2016 to 2018, Mr. Matejevich served as the Chief Financial Officer of NYX. At NYX, he focused his efforts on integrating the company’s many acquisitions and multiple debt refinancings to simplify its capital structure and provided liquidity for growth initiatives. Additionally, Mr. Matejevich was instrumental to the executive team that sold NYX to Scientific Games for $631 million. Prior to NYX, from 2004 to 2014, Mr. Matejevich was the Chief Financial Officer of Resorts International Holdings and later, from 2011, also the Chief Operating Officer of the Atlantic Club Casino, a property under the Resorts International Holdings umbrella — a Colony Capital (NYSE: CLNY) entity. As Chief Financial Officer, he provided managerial oversight for all finance functions for a six-property casino company with annual gaming revenue exceeding $1.3 billion, 10,000 gaming positions, 7,000 hotel rooms and over 11,000 staff members during his tenure. Mr. Matejevich led the transition effort to integrate a four-casino, $1.3 billion acquisition from Harrah’s Entertainment and Caesars Entertainment (Nasdaq: CZR). As Chief Operating Officer of Atlantic Club, he lobbied for and was successful in obtaining the first internet gaming legislation passed in the United States. The Atlantic Club was the sole New Jersey casino proponent of the legislation. Prior to serving in various gaming positions, Mr. Matejevich was a Vice President of High Yield Research for Merrill Lynch, where he managed the corporate bond research effort for the gaming and leisure sectors and marketed high yield and other debt transactions totaling $4.8 billion. Mr. Matejevich received a Bachelor of Science in Economics from The Wharton School and a Bachelor of Arts in International Relations from The College of Arts and Sciences at the University of Pennsylvania. Our Board of Directors Morris Bailey — Chairman Over the past 10 years, Mr. Bailey has been a leader in turning around Atlantic City, as well as being among the first gaming executives to embrace online gaming and sports betting in the United States. In his efforts, Mr. Bailey partnered with two of the largest digital gaming companies in the world, PokerStars, part of the Stars Group, and DraftKings (Nasdaq: DKNG). In 2010, Mr. Bailey bought Resorts Atlantic City (“Resorts”) and initiated a comprehensive renovation which allowed for the property to be rebranded and repositioned. In 2012, Mr. Bailey signed an agreement with Mohegan Sun to manage the day-to-day operations of the casino. In addition to Mohegan Sun’s operational expertise and ability to reduce costs via economies of scale, Resorts gained access to their robust customer database. Soon thereafter, Mr. Bailey and his team focused on bringing online gaming to the property. In 2015, Resorts established a platform to engage in online gaming by partnering with PokerStars, now part of the $24 billion Flutter Entertainment, PLC (LSE: FLTR), to operate an online poker room in Atlantic City. In 2018, Resorts announced deals with DraftKings and SBTech to open a sportsbook on-property and online. For 2020 year-to-date, Resorts has performed in the top quartile in internet gross gaming revenue in New Jersey. Mr. Bailey’s efforts in New Jersey helped set the framework for expansion of online sports and gaming throughout the United States. In addition to his gaming interests, Mr. Bailey has over 50 years of experience in all facets of real estate development, asset M&A, capital markets and operations and is the founder, Chief Executive Officer and Principal of JEMB Realty, a leading real estate development, investment and management organization. Mr. Bailey has notable investment experience within the energy, finance and telecommunications sectors through investments in the Astoria Energy Plant, Basis Investment Group and Xentris Wireless. Tony Rodio — Director Nominee Mr. Rodio has nearly four decades of experience in the gaming industry. Most recently, Mr. Rodio served as the Chief Executive Officer and director of Caesars Entertainment Corporation (“Caesars”) (Nasdaq: CZR), one of the world’s most diversified casino-entertainment providers and the most geographically diverse U.S. casino-entertainment company, from April 2019 until its acquisition by Eldorado Resorts, Inc. in July 2020. Mr. Rodio led Caesars through its $17.3 billion merger with Eldorado Resorts, one of the largest transactions in the gaming industry to date. Additionally, Mr. Rodio was instrumental to Caesars’ expansion into the digital gaming industry and oversaw the implementation of new digital segments such as its Scientific Games powered retail sportsbook solution that now operates in various states throughout the U.S. From October 2018 to May 2019, Mr. Rodio served as Chief Executive Officer of Affinity Gaming. Prior to Affinity Gaming, he served as President, Chief Executive Officer and a director of Tropicana Entertainment, Inc. (“Tropicana”) for over seven years, where he was responsible for the operation of eight casino properties in seven different jurisdictions. During his time at Tropicana, Mr. Rodio oversaw a period of unprecedented growth at the company, improving overall financial results with net revenue that increased more than 50% driven by both operational improvements and expansion across regional markets. Mr. Rodio led major capital projects, including the complete renovation of Tropicana Atlantic City and Tropicana’s move to land-based operations in Evansville, Indiana. Each of these initiatives, among others, generated substantial value for Tropicana. Ultimately, Mr. Rodio’s efforts at Tropicana led to its sale to Eldorado Resorts in 2018 for $1.85 billion. Prior to Tropicana, Mr. Rodio held a succession of executive positions in Atlantic City for casino brands, including Trump Marina Hotel Casino, Harrah’s Entertainment (predecessor to Caesars), the Atlantic City Hilton Casino Resort and Penn National Gaming. He has also served as a director of several professional and charitable organizations, including Atlantic City Alliance, United Way of Atlantic County, the Casino Associations of New Jersey and Indiana, AtlantiCare Charitable Foundation and the Lloyd D. Levenson Institute of Gaming Hospitality & Tourism. Mr. Rodio brings extensive knowledge of and experience in the gaming industry, operational expertise, and a demonstrated ability to effectively design and implement company strategy. Mr. Rodio received a Bachelor of Science from Rider University and a Master of Business Administration from Monmouth University. Marlon Goldstein — Director Nominee Mr. Goldstein is a licensed attorney with nearly 20 years of experience in the gaming space. He joined The Stars Group (Nasdaq: TSG)(TSX: TSGI) in January 2014 as its Executive Vice-President, Chief Legal Officer and Secretary until his retirement from the company in July 2020 following the merger of TSG with Flutter Entertainment, PLC (LSE: FLTR). Mr. Goldstein also previously served as the Executive Vice-President, Corporate Development and General Counsel of TSG. Mr. Goldstein was also the senior TSG executive based in the United States and was one of the primary architects of TSG’s strategic vision for its U.S.-facing business. During his tenure, TSG grew from an approximately $500 million market-cap company to an approximately $7 billion market-cap company through a combination of organic growth and strategic mergers and acquisitions. Mr. Goldstein participated in numerous M&A transactions and capital markets offerings at TSG, including several transformational transactions in the digital gaming industry. Notable transactions in which Mr. Goldstein was involved include: • TSG/Flutter Merger: In 2019, TSG merged with Flutter for a $12.2 billion transaction value, the largest transaction in the digital gaming industry to date. • TSG/Fox Bet Partnership: In 2019, TSG entered into a partnership with FOX Sports to create FOX Bet in the U.S., a leading U.S. online gaming business. Wall Street Research estimates an approximate $1.1 billion valuation for Fox Bet post-partnership with The Stars Group. • TSG/Sky Betting & Gaming: In 2018, TSG acquired Sky Betting & Gaming, the largest mobile gambling operator in the United Kingdom at the time, for $4.7 billion. • TSG/CrownBet and William Hill: In 2018, TSG simultaneously acquired CrownBet and William Hill, two Australian operators, for a total of $621 million in a multi-part transaction. • TSG/PokerStars and Full Tilt Poker: In 2014, TSG acquired The Rational Group, which operated PokerStars and Full Tilt and was the world’s largest poker business, for $4.9 billion. Through his ability to legally structure large and complex transactions, Mr. Goldstein was integral to TSG’s vision of becoming a full-service online gaming company. Additionally, he assisted in structuring TSG’s capital markets activity, which generated liquidity for acquisitions and strengthened its balance sheet. Prior to joining TSG, Mr. Goldstein was a principal shareholder in the corporate and securities practice at the international law firm of Greenberg Traurig P.A., where he practiced for almost 13 years. Mr. Goldstein’s practice focused on corporate and securities matters, including mergers and acquisitions, securities offerings, and financing transactions. Additionally, Mr. Goldstein was the founder and co-chair of the firm’s Gaming Practice, a multi-disciplinary team of attorneys representing owners, operators and developers of gaming facilities, manufacturers and suppliers of gaming devices, investment banks and lenders in financing transactions, and Indian tribes in the development and financing of gaming facilities. Mr. Goldstein brings experience and insight that we believe will be valuable to a potential initial business combination target business. Mr. Goldstein received a Bachelor of Business Administration with a concentration in accounting from Emory University and a Juris Doctorate with highest honors from the University of Florida, College of Law. Sean Ryan — Director Nominee Mr. Ryan is a digital media and technology operator with extensive global experience in online payments, e-commerce, marketplaces, mobile ad networks, digital games, enterprise collaboration platforms, blockchain, real money gaming and online music. Since 2014, Mr. Ryan has been serving as Vice President of Business Platform Partnerships at Facebook, Inc. (“Facebook”) (Nasdaq: FB), where he leads a more than 500 person global organization that manages the Payments, Commerce, Novi/Blockhain, Workplace and Audience Network businesses. Prior to his current role, Mr. Ryan was hired in 2011 as the Director of Games Partnerships to lead and grow the global Games business at Facebook. While the Director of Games Partnerships, Mr. Ryan focused on re-shaping Facebook’s games and monetization strategies to derive more value for Facebook, its users and its partners, including the addition of a Real Money Gaming offering in regulated markets. Mr. Ryan’s team helped accelerate a major trend in engagement through cross-platform games and therefore the opportunity to increase users through establishing games on multiple platforms. Prior to joining Facebook, Mr. Ryan created the new social and mobile games division at News Corp, an American multinational mass media corporation controlled by Rupert Murdoch. While at News Corp, Mr. Ryan led the acquisition of Making Fun, a San Francisco social-game start-up, that created News Corp’s games publishing division. Before joining News Corp., Mr. Ryan founded multiple digital businesses such as Twofish, Meez, Open Wager and SingShot Media. Mr. Ryan co-founded Twofish in 2009, a virtual goods and services platform that provided developers with data analytics and insights for individual application’s digital economies. Twofish was later sold to online payments provider Live Gamer, where Mr. Ryan served on the board of directors. From 2005 to 2008, Mr. Ryan founded and led Meez.com, a social entertainment service combining avatars, web games and virtual worlds. The white label social casino gaming company Open Wager was spun out of Meez and was later sold to VGW Holdings, Mr. Ryan also co-founded SingShot Media, an online karaoke community, which was sold to Electronic Arts (Nasdaq: EA) and merged into its Sims division. We believe Mr. Ryan’s experience will be valuable to a potential initial business combination target and would provide an expanded perspective on the digital gaming landscape. Mr. Ryan received a Bachelor of Arts from Columbia University and a Master of Business Administration from the University of California, Los Angeles. Tom Roche — Director Nominee Mr. Roche has more than 40 years of experience in the gaming industry as a regulator, advisor and independent auditor. Mr. Roche joined Ernst & Young (“EY”) as a partner in 2003 and opened its Las Vegas office. He was subsequently appointed as the Office Managing Partner and Global Gaming Industry Market Leader. In 2016, Mr. Roche relocated to the EY Hong Kong office to supervise the expansion of the EY Global Gaming Industry practice in the Asia Pacific region. Mr. Roche has been integral to numerous transactions that have shaped the current gaming landscape, including: • Wynn Resorts (Nasdaq: WYNN) initial public offering: Mr. Roche was the lead partner on Wynn Resort’s initial public offering, which raised $450 million in 2002. • Harrah’s Entertainment/Apollo Management Group & Texas Pacific Group: Mr. Roche headed the regulatory advisory services on the buyout of Harrah’s Entertainment, the world’s largest casino company at the time, for $17.1 billion. • Dubai World/MGM Resorts: Mr. Roche headed the regulatory and due diligence advisory services to Dubai World in its approximately $5.1 billion investment in MGM. Dubai World bought 28.4 million MGM shares, or 9.5 percent of the casino operator, for $2.4 billion. It then invested $2.7 billion to acquire a 50% stake in MGM’s CityCenter Project, a $7.4 billion 76-acre Las Vegas development of hotels, condos and retail outlets. • MGM Growth Properties (NYSE: MGP) initial public offering: Mr. Roche provided tax and structural transaction services to MGM Resorts in the creation of MGM Growth Properties, a publicly traded REIT engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts. MGM Growth Properties raised $1.05 billion in its 2016 initial public offering. Mr. Roche also directed EY advisory services to boards and management teams for profit improvement and technology related initiatives. In addition, Mr. Roche provided advisory support to the American Gaming Association on several research projects, including those specifically related to sports betting, the revocation of The Professional and Amateur Sports Protection Act of 1992 (PASPA) and anti-money laundering best practices in the gaming industry. Equally, he has assisted government agencies in numerous international locations with enhancing their regulatory approach to governing the industry especially in the online gambling sector. Prior to joining Ernst & Young, Mr. Roche served as Deloitte’s National Gaming Industry Leader and as the co-head of Andersen’s Gaming Industry Practice in Las Vegas. In 1989, Mr. Roche was appointed by then Governor of the State of Nevada, Robert Miller, to serve as one of three members of the Nevada State Gaming Control Board for a four-year term, where he was directly responsible for the Audit and New Games Lab Divisions. As a board member, he spent a substantial amount of time assisting global jurisdiction regulators enact gaming legislation in the design of their regulatory structure. During his career, Roche has been involved in numerous public and private offerings of equity and debt securities. His background includes providing casino regulatory consulting services to casino licensees and to federal and state agencies including the National Indian Gaming Commission and the Nevada State Gaming Control Board, and industry associations such as the Nevada Resort Association and the American Gaming Association. We believe Mr. Roche’s highly regarded reputation as a gaming auditor and advisor in the gaming industry will be valuable for us and a potential business combination target. Mr. Roche is a member of the American Institute of Certified Public Accountants and is licensed by the Nevada State Board of Accountancy and Mississippi State Board of Public Accountancy. He received his Bachelor of Science degree in Accounting from the University of Southern California.
[serious] Where is the line (legally or otherwise) between derivatives trading and gambling?
I guess this question can be thought of two ways, and not strictly limited to the US (where I am located.)
When do financial activities or services cross into gambling territory? That is to say, they cease being subject to financial regulation or reporting, and cross into being governed by gaming rules and regulations?
If somebody opened up a casino in Nevada, but all the games were about placing bets on the prices of stocks or bonds (like, instead of people watching sports games on a wall of TVs and placing bets, they were watching finance and news channels) when would financial regulation / jurisdiction kick-in vs. just being handled by the gaming commission?
I tagged this serious because I'm sure it depends is an answer since it probably does depend on the scope / context / or even maybe a judge? Or is it a little more clear than that? I have no clue.
ZenSports Sign Exclusive Skin Deal with Boulter Developments For Colorado Expansion!
ZenSports Sign Exclusive Skin Deal with Boulter Developments For Colorado Expansion! We began our US expansion efforts of ZenSports last summer via a deal inked with Strategic Gaming Management, allowing us to acquire an option to purchase the Big Wheel Casino and expand into Nevada. The ZenSports team is excited to announce that we now have our sights set on expanding into Colorado. Through a deal signed with Boulter Developments LLC, we will become the exclusive online sports betting skin partner of the new casino to be opened up by Steve Boulter later in 2021. This deal will remain exclusive for the next 15 years. Read More: https://zensports.com/blog/zensports-colorado-expansion/
The next Detroit: The catastrophic collapse of Atlantic City
With the closure of almost half of Atlantic City's casinos, Newark set to vote on gambling and casinos or racinos in almost every state, it seems as if the reasons for the very existence of Atlantic City are in serious jeopardy. Israel Joffe Atlantic City, once a major vacation spot during the roaring 20s and 1930s, as seen on HBOs Boardwalk Empire, collapsed when cheap air fare became the norm and people had no reason to head to the many beach town resorts on the East Coast. Within a few decades, the city, known for being an ‘oasis of sin’ during the prohibition era, fell into serious decline and dilapidation. New Jersey officials felt the only way to bring Atlantic City back from the brink of disaster would be to legalize gambling. Atlantic City’s first casino, Resorts, first opened its doors in 1978. People stood shoulder to shoulder, packed into the hotel as gambling officially made its way to the East Coast. Folks in the East Coast didn't have to make a special trip all the way to Vegas in order to enjoy some craps, slots, roulette and more. As time wore on, Atlantic City became the premier gambling spots in the country. While detractors felt that the area still remained poor and dilapidated, officials were quick to point out that the casinos didn't bring the mass gentrification to Atlantic City as much as they hoped but the billions of dollars in revenue and thousands of jobs for the surrounding communities was well worth it. Atlantic City developed a reputation as more of a short-stay ‘day-cation’ type of place, yet managed to stand firm against the 'adult playground' and 'entertainment capital of the world' Las Vegas. Through-out the 1980s, Atlantic City would become an integral part of American pop culture as a place for east coast residents to gamble, watch boxing, wrestling, concerts and other sporting events. However in the late 1980s, a landmark ruling considered Native-American reservations to be sovereign entities not bound by state law. It was the first potential threat to the iron grip Atlantic City and Vegas had on the gambling and entertainment industry. Huge 'mega casinos' were built on reservations that rivaled Atlantic City and Vegas. In turn, Vegas built even more impressive casinos. Atlantic City, in an attempt to make the city more appealing to the ‘big whale’ millionaire and billionaire gamblers, and in effort to move away from its ‘seedy’ reputation, built the luxurious Borgata casino in 2003. Harrah’s created a billion dollar extension and other casinos in the area went through serious renovations and re-branded themselves. It seemed as if the bite that the Native American casinos took out of AC and Vegas’ profits was negligible and that the dominance of those two cities in the world of gambling would remain unchallenged. Then Macau, formally a colony of Portugal, was handed back to the Chinese in 1999. The gambling industry there had been operated under a government-issued monopoly license by Stanley Ho's Sociedade de Turismo e Diversões de Macau. The monopoly was ended in 2002 and several casino owners from Las Vegas attempted to enter the market. Under the one country, two systems policy, the territory remained virtually unchanged aside from mega casinos popping up everywhere. All the rich ‘whales’ from the far east had no reason anymore to go to the United States to spend their money. Then came the biggest threat. As revenue from dog and horse racing tracks around the United States dried up, government officials needed a way to bring back jobs and revitalize the surrounding communities. Slot machines in race tracks started in Iowa in 1994 but took off in 2004 when Pennsylvania introduced ‘Racinos’ in an effort to reduce property taxes for the state and to help depressed areas bounce back. As of 2013, racinos were legal in ten states: Delaware, Louisiana, Maine, New Mexico, New York, Ohio, Oklahoma, Pennsylvania, Rhode Island, and West Virginia with more expected in 2015. Tracks like Delaware Park and West Virginia's Mountaineer Park, once considered places where local degenerates bet on broken-down nags in claiming races, are now among the wealthiest tracks around, with the best races. The famous Aqueduct race track in Queens, NY, once facing an uncertain future, now possesses the most profitable casino in the United States. From June 2012 to June 2013, Aqueduct matched a quarter of Atlantic City's total gaming revenue from its dozen casinos: $729.2 million compared with A.C.'s $2.9 billion. It has taken an estimated 15 percent hit on New Jersey casino revenue and climbing. And it isn't just Aqueduct that's taking business away from them. Atlantic City's closest major city, Philadelphia, only 35-40 minutes away, and one of the largest cities in America, now has a casino that has contributed heavily to the decline in gamers visiting the area. New Jersey is the third state in the U.S. to have authorized internet gambling. However, these online casinos are owned and controlled by Atlantic City casinos in an effort to boost profits in the face of fierce competition. California, Hawaii, Illinois, Iowa, Massachusetts, Mississippi, Pennsylvania and Texas are hoping to join Delaware, Nevada, New Jersey and the U.S. Virgin Islands in offering online gambling to their residents. With this in mind, it seems the very niche that Atlantic City once offered as a gambling and entertainment hub for east coast residents is heading toward the dustbin of history. Time will tell if this city will end up like Detroit. However, the fact that they are losing their biggest industry to major competition, much like Detroit did, with depressed housing, casinos bankrupting/closing and businesses fleeing , it all makes Atlantic City’s fate seem eerily similar.
How and Why? The Vegas Books Broke the All-Time Net Profit Record The Nevada Gaming Control Board just released the month of November's overall handle(total amount wagers) and overall net profit(total amount made) on all Nevada sportsbooks. Nevada sports books won more money in November than any other month in the state's 50-plus-year sports betting history. Las Vegas sportsbooks won a net $61.8 million in November, beating the previous mark of $56.4 million set in September 2018. A total of $609.6 million was wagered with Nevada sportsbooks, Nevada casinos are operating at reduced capacity because of the coronavirus pandemic. As a result, the amount casinos won on sports betting in November topped the amount won on blackjack ($58.1 million) in a month for the first time ever. (Keep in mind blackjack has one of the smallest house advantages, Blackjack at a 1% to 1.5% hold% or house edge). So 609 million dollars wagered last month and they had a net profit of 61.8 million. That’s roughly a 10% hold for the sports books. (To learn more about hold % there is a in-depth lesson on this topic that was done in October of last year in the #Betting-Advice channel) 609 million wagers, close to 62 million made 🤔 how is that possible when making a wager at -110 gives the house a 4% to 4.5% hold. Nevada sports books doubled their hold% last month. Remember, NBA just started 2 weeks ago and College Hoops started at the end of November so the sports books really only had NFL and College football. So again, how the hell did they make so much money! For starters, NFL underdogs went 42-28 against the spread in November, that had to have helped the sports books because the betting public typically bets favorites. But I’m sure there have been many other months where underdogs did well but the sports books couldn’t claim a record of net profit like they just did. Vice president for the SuperBook at Westgate Las Vegas “I’d say 90 percent of the largest NFL decisions went our way in November, including some that were among our biggest wins ever." He went on to say “two games stood out in November for us, Everyone bet Tampa, and that really capped one of the biggest Sundays we've ever had," New Orleans Saints' 38-3 win over the Tampa Bay Buccaneers on Nov. 8. The New England Patriots' 23-17 upset of the Baltimore Ravens on Nov. 15 also produced a significant win for the SuperBook, He said. Ok so the sports books had a few big decisions go their way but again there have been months in history where upsets happen but why was this past November the all-time record breaking month for sports books and a net profit of a 10% hold. We know betting a game at -110 only has roughly a 4% house edge. Guess what has a 10% house edge, parlays. Yup, parlays give the sports book a house edge of 10% almost double that of a straight bet. It’s simple math really, you have to win two bets to win and that’s just for the standard 2 team parlay. There are many people who believe this past November month’s record is just the beginning and that records will continue to be shattered even during a pandemic. The reason is simple, there are a lot more sports bettors betting right now and choosing parlays rather than the standard straight bets. This is doubling the house advantage. The sports books are all celebrating because they know more bettors will continue to bet parlays and that just means a greater house advantage and makes them a mathematical certainty to win over the long term. If you want to make your bookie rich or the company who’s website you bet on even richer, continue to bet parlays. If you want to learn how to bet smarter and avoid traps by the sports books and how to avoid being a sucker join The Betting Network. There’s no secret trick or strategy, you must put in effort and time, just like with most things in this world -you get out what you put in-. DM me for more information on how to join the Betting Network Discord community. Thanks @TBN_Lefty @TheBettingNetwork
Not Financial Advice (NFA) Warning: Wall of Text. If you hate reading just skim through the bolded/italicized Ever since I publicized my findings on DKNG, the stock has underperformed & probably has fucked a lot of people here, especially given the overly bullish stance back in June. Unless you took my advice & got into Puts then, congrats, welcome to tendie town. For the ADHD retards, here’s what the next wall of text is going to summarize: I believe at the current price of ~$30, the stock is oversold. A tech-focused, high-growth Company that has made sports betting easy to understand with an aesthetically pleasing interface similar to how Robinhood has neatly laid out stock market gimmicks so even high-schoolers can make sense of it I believe, is underpriced at these levels. Let’s get into some details as to why the stock has underperformed: First off, the news slate revolving sports with the rumored delay/cancellation of the MLB season & the NFL watching from the sidelines is in my view, just a part of why the stock has underperformed. We’ll revisit this later in this post, but I want to focus on the drivers of the stock’s recent underperformance, & why these factors are now in the rearview mirror. Part I – The Past Has Passed – SPAC-related Equity Dilution History lesson first: DKNG went public via a SPAC merger, which has exploded in popularity recently. Anyone serious about analyzing stocks going forward needs to do their homework on this, Google is your friend. A feature of most SPAC merger to public listings that creates a headwind to near-term share prices are embedded equity dilution events, usually in the form of earn-outs (stock bonuses to execs, the SPAC sponsor) & conversion of Warrants. On 5/24, the earn-outs were triggered, adding 6m shares to the share count. On 6/26, 16.3m warrants converted to DKNG, netting them ~$188m of cash. Stepping back a little, in addition to the above, on 6/18 DKNG launched a follow-on equity offering of 16M shares @ $40/Share [1], receiving $621M in proceeds. The last part is tricky to understand from a dilution perspective. To simplify, historically it’s almost a coin toss whether a Company’s shares outperform on the onset of an equity offering. While issuing shares does dilute the existing shareholder base, it theoretically shouldn’t, if the proceeds from the offering are earmarked for investments/projects that yield outsized returns. This is the reality for the long term, theory for the short-term. For the short-term, the ‘reality’ isn’t that the proceeds will be used for investments/projects that yield outsized returns, it is more about how convincing management is to investors that the investments they intend to pursue with the proceeds will outweigh the dilutive effects of issuing incremental shares. That’s a mouthful, but hopefully you get what I’m trying to convey. All of this stuff put together – the Company has increased its share count by ~39M, but now has a whopping ~$1.4Bn of cash [2]. More on this in the next section. Part II – MLB News Should Not Fucking Matter & DKNG Is Positioned As the Leading Online/Mobile Sports Platform DKNG should not be so tied to MLB news or any of this shit as the ongoing success of the NBA/NHL season + Soccer in Europe has effectively created a blueprint on how to regulate player behavior so that they maintain professionalism amidst the pandemic. I’m going out on a whim here, but I truly think the MLB threatening a cancellation of the season is pure posturing to get these fuckers to behave appropriately. Maybe a ‘bubble’ is what it takes to get these players to focus on their jobs instead of going out & contracting COVID, but I argue that isn’t necessarily required given Soccer in Europe. So there’s already a proven path here without the need for a bubble in Soccer, so MLB/NFL should be fine, and execs need to study how they got it done in Europe. Okay, back to some facts. Anecdotally, I’ve kept in touch with a handful of sports bookies from California to New York & even internationally about what they’re seeing – all of them say that since the NBA season started on 7/30 & since Soccer (especially the Premier League) resumed in June, along with other leagues like La Liga & Serie A, they’ve seen massive increases in betting. These numbers are also showing up in the official data [3]:
Average % increase in sports betting handle from April 2020 to June 2020 (handle is the total $ wagered in sports bets) from the states that reported up to June 2020 (NJ, PA, MS, RI, WV, IA, IN, NH) of +258%!
Note: NV is left out due to the site I sourced showing a weirdly negative number – so I dug into the official filings & show specifically, Sports Mobile betting growth from June since April has growing by at least +73% [4]
REMEMBER: This is for June only! No NBA, No NHL, No MLB, just Soccer, Golf, NASCAR & UFC. The data clearly shows that there was a ton of pent-up sports betting demand, which leads one Wall St. analyst to think that betting on the NBA/NHL could ABSORB the MLB’s sports betting handle (handle = total $ size of sports bet) [5]. Remember, the MLB season is still ongoing, with games being played. The entire focus is on the Miami Marlins & St. Louis Cardinals. Fucking retards. Additionally, I want to remind everyone that DraftKings.com is the #1 Fantasy sports website in the U.S. [6]. Also, since April 2020 site visitations are up +86% [7] & Google Search Trends for “Draft Kings” is up ~3xcompared to PRE-COVID levels [8]. What does this mean? They are piquing more people’s curiosity than prior to COVID/ongoing slate of sports. This is important because remember that ~$1.4Bn chest full of cash I mentioned DKNG had assembled earlier? Well, that money is being put to work & results are already coming in, which is exactly what DKNG intended to do with it. Part III – Legalization of Sports Betting in the U.S. I could write a fucking bible on this topic alone, but for now we’ll stick to some basics. Due to COVID, it’s easy to understand that each State’s financial situation is clearly in shit. Because of this, you better believe that these guys are going to start taking a hard look at how they can extract additional tax revenues, & what’s one of the easiest ways to do this? Legalization & taxation of gambling. The big players: CA, TX, FL & NY. First, CA pushing its legislation out to 2023 was fucked up, but here’s a twist I want to add to this: Anything that has to do with gambling in CA you better believe is lobbied against by not just the Tribal casino owners in CA, but by the deep pockets of Las Vegas money. Similar thing can be said for FL, but let’s take a look at some actions by LV/nationwide gambling companies that are starting to align financial incentives with guys like DKNG.
MGM / GVC Holdings JV in BetMGM - $450m total invested
PENN invests $163m into BS Sports
Caesars has a 20% stake in William Hill plus partnership deals with The Stars Group (TSG) & our winner DKNG for operating its sports books
So it’s safe to say going forward, nationwide legalization of sports betting will reap rewards for everyone involved, & no longer be something LV money is completely focused on safeguarding. Let’s also not forget that DKNG didn’t become the Company they are today because of their fancy app, but because their management team has a HISTORY of navigating the U.S.’s legal framework to get what they want out of it.
The Crown Jewel – The Internet Gambling Prohibition & Enforcement Act: I said it in a previous post, but I want to emphasize that them getting Fantasy Sports to be labeled a ‘game of skill’ by FEDERAL Law as opposed to gambling is just something for the history books. Fucking genius shit. When this happened I bet every casino from LV to every Indian Tribe that has one was against it, yet DKNG & other DFS providers won.
There’s more, but more recently: Getting into IL:
In IL, there’s an 18-month ‘penalty box’ for Companies that offer DFS to offer sports betting. Our guys at DKNG created a workaround to this situation with their partnership with Casino Queen [9]. DKNG being savvy again.
Hard truths: Knight of Malta Frank Fahrenkopf and Roman Catholic priest John L. Jenkins control the Presidential Debates - American ideology is a failure and is literally Jesuitism
The Knights of Malta/Sovereign Military Order of Malta is a crusading Order dating back to the year 1099. They are considered a sovereign entity under international law and hold observer status at the United Nations. There is no other organization on earth which is considered sovereign while lacking actual territory and nationhood. The SMOM is an extremely powerful Vatican knighthood working to enforce the temporal/political power of the Holy See, now controlled by the Jesuit Order (also a military Order) since 1814. The Jesuits have used their university system in America to train the Catholic laity who enter into government and politics. The foremost of these universities is Georgetown University near Washington D.C. There, the Jesuits have created entire programs dedicated to pushing the democratic form of government modeled on America. This is because around the 1950s, the American democracy was determined to be the best vehicle by which the Jesuits can take and maintain control of nations. The most prominent Jesuit who was responsible for the adoption of this course of action was John Courtney Murray who worked with the CIA (also Catholic controlled) to spread Americanism. The technical details are as follows: Jesuit Robert Bellermine's indirect theory of papal power was revived under Pius XI in the 1930s for the purpose of infiltrating states using the Catholic Action movement comprised of the laity, especially in the intellectual sphere. The Catholic Action model of gaining political hegemony was promoted by powerful American Jesuit (CIA) John Courtney Murray who revised Bellermine's theory of indirect power; Bellermine having pushed the doctrines of equality taken up specifically by Thomas Jefferson. Murray was a leading advisor at the Vatican II conference which produced the document "Lumen gentium" calling on world action from the laity reflecting the earlier Catholic Action model. American democracy is the easiest politcal system for the church to control through this model, hence Murray's assistance to the CIA in spreading it. One may wish to view my recent video Commission on Presidential Debates: Catholic-Imposed Limitations in American Political Discourse which delves into this subject. Now, The Commission on Presidential debates, founded and chaired by Jesuit Georgetown professor and Knight of Malta Frank Fahrenkopf is strictly governed so as to bar candidates outside of the two major politcal parties which uphold the standard American ideology the Jesuits seek to maintain and enforce throughout the world. Given the previous background on the Jesuits and American democracy, it is no surprise that Fahrenkopf was also a founder of the National Endowment for Democracy which has the goal of promoting democracy abroad.
The Commission on Presidential Debates (CPD) is a nonprofit corporation established in 1987 under the joint sponsorship of the Democratic and Republican political parties in the United States.[1][3] The CPD sponsors and produces debates for U.S. presidential and vice-presidential candidates and undertakes research and educational activities relating to the debates. It has run all of the presidential debates held since 1988. The commission's debates are sponsored by private contributions from foundations and corporations[4] as well as fees from hosting institutions.[5] The commission's exclusion of third-party candidates from the debates has been the subject of controversy and legal challenges.
https://en.wikipedia.org/wiki/Commission_on_Presidential_Debates Biographical information on CPD top brass: Frank J. Fahrenkopf Jr. is a Knight of Malta and was the master of the casino gambling industry having been the President and CEO of the American Gaming Association since its inception until his retirement in 2013. Fahrenkopf was chairman of the Republican National Committee longer than any person in the 20th century and he co-founded the Commission on Presidential Debates together with another Roman Catholic, Paul G. Kirk who was Fahrenkopf's counterpart as head of the Democratic National Committee.Fahrenkopf has been a professor at Jesuit Georgetown University and he was a founder of the National Endowment for Democracy, where he served as vice chairman and a board member from 1983 to 1993. Additionally, Fahrenkopf serves as a board member of the International Republican Institute (IRI), which he founded in 1984. He served for many years as chairman of the Pacific Democrat Union and vice chairman of the International Democrat Union, a worldwide association of conservative political parties from the United States, Great Britain, France, Germany, Canada, Japan, Australia and 20 other nations. Fahrenkop also sits on the board of directors of six New York Stock Exchange public companies: First Republic Bank, Gabelli Equity Trust, Inc., Gabelli Utility Trust, Gabelli Global Multimedia Trust, Gabelli Dividend and Income Trust, and Gabelli Gold and Natural Resources. For many years, he was a member of the board of trustees of the National Judicial College, the ABA-sponsored judicial education center for federal and state judges; chairman of the Coalition for Justice, a group coordinating the ABA's initiatives to improve the American justice system; and chairman of the Legal Policy Advisory Board of The Washington Legal Foundation. He was a member of the Nevada State Board of Bar Examiners, president of the Washoe County Bar Association and vice president of the Nevada Trial Lawyers Association. His civic involvement includes service as chairman of the board of governors of the City Club of Washington, a member of the board of trustees of the E.L. Wiegand Foundation, and a member of the Greater Washington Board of Trade, The Economic Club of Washington and the Federal City Council. Fahrenkopf also served as a co-chairman of the Rivlin Commission, which investigated and reported on the government of the District of Columbia. He has been honored for his contributions, receiving the Junior Chamber of Commerce Distinguished Service Award in 1973, the Nevada Lung Association “Man of the Year” Award in 1983 and the National Humanitarian of the Year Award from the National Conference on Christians and Jews in 1985. https://www.rnla.org/bio/BioDetail.asp?MemberID=496http://iop.harvard.edu/fellows/frank-fahrenkopfhttps://en.wikipedia.org/wiki/Frank_J._Fahrenkopf,_Jr. The Notable Names Database lists Fahrenkopf's dossier as follows:
Professor: Georgetown University
Trustee, National Judicial College
Trustee, Culinary Institute of America
Trustee, University of Nevada (1994-2000)
American Gaming Association (1995-)
Hogan & Hartson Partner
Member of the Board of First Republic Bancorp, Inc.
Republican National Committee Chairman (1983-89)
Republican National Lawyers Association Board of Governors
American Bar Association
American Judicature Society
Burning Tree Country Club
Bush-Cheney '04
Economic Club of Washington, DC
Friends for Harry Reid
Friends of George Allen
Fund for a Free Market America
International Republican Institute
John McCain 2008
Knights of Malta
National Endowment for Democracy
National Restaurant Association
Republicans Abroad Advisory Committee
Tobacco Institute Lobbyist (1975)
US-Panama Business Council
Washington Legal Foundation
Young Republicans
State Bar of Nevada 1965
District of Columbia Bar 1984
http://www.nndb.com/people/434/000125059/ John L. Jenkins is a Roman Catholic priest and is President of the University of Notre Dame. Jenkins was Jesuit-educated at Santa Clara University. Jenkins has served on the Board of Directors for The Commission on Presidential Debates since 2011. Kenneth Wallock is a co-chair of the Commission on Presidential Debates who, at the 10th Anniversary of Georgetown University's Masters Program in Democracy and Governance cited Jesuit Georgetown University as pioneering work in the field. Wallock is a Board member of Fahrenkopf's National Endowment for Democracy and is the Former president of the National Democratic Institute.
Kenneth Wollack has been actively involved in foreign affairs, journalism and politics over the past four decades. He served as the president of the National Democratic Institute (NDI), a nongovernmental organization dedicated to advancing democracy worldwide, and one of the NED’s four core institutes. Wollack retired from NDI in September 2018. Mr. Wollack joined NDI in 1986 as executive vice president. The Institute’s board of directors, then chaired by former Vice President Walter Mondale, elected him president in March 1993. Mr. Wollack traveled to more than 100 countries, many on multiple occasions, in every region of the world on behalf of the Institute’s democratic development programs. Chaired by former Secretary of State Madeleine Albright since 2001, the Institute maintains offices in more than 50 countries and works to support democratic elections, political parties, parliaments, civic engagement and women’s political empowerment. NDI was established as the result of a 1983 Act by the US Congress. Before joining NDI, Mr. Wollack co-edited the Middle East Policy Survey, a Washington-based newsletter. He also wrote regularly on foreign affairs for the Los Angeles Times. From 1973 to 1980, he served as legislative director of the American Israel Public Affairs Committee (AIPAC). Mr. Wollack has been active in American politics, serving on the national staff of the McGovern presidential campaign in 1972. He graduated from Earlham College in Richmond, Ind., and was a senior fellow at UCLA’s School for Public Affairs. He has testified on numerous occasions before congressional committees, appeared on national television and radio, and spoken before world affairs councils across the country. He has served on various task forces sponsored by the Brookings Institution, the United States Institute of Peace, the Council on Foreign Relations, the Center for U.S. Global Engagement, the Bipartisan Policy Center and the Atlantic Council. He was chairman of the U.S. Committee for the United Nations Development Program (UNDP). Mr. Wollack is currently serving on the Board of the Commission on Presidential Debates, which has sponsored the presidential and vice-presidential debates since 1988, and as a member of the advisory committee for the U.S. Agency for International Development, and the George W. Bush Institute’s Advisory Council on Human Freedom.
This is an example of fundamental DD that takes place at ‘smart’ money institutions based on my professional experience in IBD, Private Equity & most recently at a HF (mods can message me for proof). Not thoroughly fleshed out b/c you autists have limited attention spans, but a summary. Figured I’d take the time to give back to this community that has provided many lolz, & should be a good measuring stick when evaluating other forms of fundamental DD posted here. NFA. DKNG - DraftKings, Inc.: vertically integrated US mobile betting operator that also provides retail sports betting & back-end betting solutions through SBTech. Think of SBTech as the tech ‘market-maker’ for traditional sports betting, they do all the funny math to set the betting odds & seem to be working on back-end solutions for DKNG Casino The Big Picture
Total annual US Gambling Revenue: ~$90Bn [1]
Casinos: ~$75Bn
Illegal Sports Betting: ~$13Bn
Horse Racing: ~$0.8Bn
Daily Fantasy Sports: ~$0.4Bn
Only ~2% of the ~$90Bn gambling revenues were placed online which is the lowest in the world where betting online is legal. For example, in other countries online gaming activity represents ~6% - ~52% of total gambling revenues, with ~12% being the average. Wall Street expects online gaming revenue to be $20Bn-$40Bn within the next 10 years. For this to be achieved, the online gambling market will have to achieve a ~30% penetration rate on total country gaming revenues. There is an expectation that this is could be easily achievable given penetration trends overseas - see page 11 of this: https://s1.rationalcdn.com/vendors/stars-group/documents/presentations/TSG-Investor-Day_March-27-2019.pdf Other catalysts include increasing adaptation of sports betting in more states. States that have both legal sports betting + online sports betting permitted: NV, NJ, WV, PA, IA. Sports betting permitted but no online: DE, MS, RI, MO, AR. Prior to COVID there was ongoing discussions across many States, especially ones with growing deficits to explore how permitting sports betting could create a fresh avenue of tax dollars. Post COVID there is an expectation that these discussions will be given extra focus as many States will be hungry for incremental tax dollars. Important to note that currently 43/50 States allow DFS, but given the small share DFS has on total Gaming Revenues, it increasingly looks like DKNG is banking on traditional sports betting for a variety of reasons, more later. There are entire articles on Google arguing this catalyst so I’ll end this here. Digging Deeper DKNG’s main offerings are Daily Fantasy Sports (“DFS”) products & traditional sports book products to its clients. Long story short, a metric to look for in my opinion (that is curiously not reported by management or remarked on) is the hold % in traditional gaming sector parlance or the ‘rake’ & compare it to the ‘traditional’ gaming products like sports betting & Blackjack. For DFS: DKNG takes ~15% of the prize pool (note: used to be ~6-11% [2]). Curiously, their main competitor FanDuel also has moved up to a ~15% rake recently. Google searches show the smaller competitors have a rake in the ~13% range. This ‘rake’ has grown ~2x in 6 years, but it has been a delicate move on behalf of management. Why? B/c the more ‘sophisticated’ DFS players (equal to autistic day traders on Robinhood) have noted this increase & based on some Googling, some have moved down market to the smaller players. As a side note, many live casino games have their rules altered to grow the Hold %. For example, Blackjack games with 6:5 payouts on 21 have materially higher Hold % than the traditional BJ rules that pay out 3:2. Given the findings so far, DKNG may not have much room to materially increase its hold % in DFS games in the near-term from current of 15%. More on this later. Now why the fuck is this important? This is important b/c the typical sports book (ex-Parlays) have a ~5% hold %/rake. Parlays have up to a ~30% hold (which is why it’s commonly known as the sucker’s bet), & just for reference, the average Blackjack table clocks in 14.5%. What this means: Every dollar put into these games, the “House” or DKNG, will take 15% of your money for DFS games, for sports bets they will be pocketing ~5%, up to ~30% if you’re into parlays, & we’ll just use the standard 14.5% BJ hold for the DraftKings Casino platform. So why the acquisition of SBTech & a foray into the traditional sports gambling market? As you can see previously, the illegal sports betting market is >30x the size of the current daily fantasy sports market. So it’s clear that the DFS providers including DKNG are foraying into the space to capture this user base & hopefully convert them into games that have a higher hold %, such as DFS/DKNG Casino. As of May 2020, DKNG has achieved a 30% penetration rate on its ~4mm ‘monetized’ DFS clientele to its Online Sports Book (OSB), from the OSB+DFS clientele, DKNG has converted 50% into its DraftKings Casino platform. Including non-monetized users, user base totals at 12mm. Based on these unit economics: every 1mm of additional users -> 333k monetized users for DFS -> 100k users for OSB -> 50k users for DraftKings Casino. Some Numbers – Italicized/Bolded the important
In total, DKNG has DFS paying clientele of ~4mm, the metric management focuses on is “Monthly Unique Payers (MUP)” which spans across DFS & online sports betting***. As of Q1’20 they reported 720,000*** MUPs, representing +16% YoY growth [3]
Average revenue per monthly user (ARPU) of ~$41, +11% YoY
Based on previous observation of Hold %, looks like ARPU growth will be limited
Since ’17, MUP has grown at a ~11% CAGR & ARPU has grown at a ~19% CAGR
As a side note: the ~4mm monetized user base was acquired at ~$122/user over 3 years. Total users cost them $41/user over the last 3 years [3].
They are currently EBITDA negative & Wall St expects them to be positive by 2023
I took a dive into the math driving this, here is a summary:
Based on their current cost structure they will need to have ~1.7mm MUPs at an ARPU of ~$46 to break-even. This implies total monetized users of ~10mm from ~4mm currently
Numbers that represent Risks to Long Thesis
DKNG’s user base of ~12mm is on the low end of the sector vs. its ‘brick & mortar’ competitor's user bases (online betting platforms with physical casino presence)
CZR with 55mm, MGM with 33mm, ERI with 10mm (in pending merger with CZR, could have a lot of overlap), FanDuel with 8.5mm
Is there a concern for increased marketing costs to increase user base? Let’s look at a case study of NJ, the first state to open both mobile & retail sports betting:
FanDuel + DraftKings have held 80%+ of the OSB market share since 12/2018 which is estimated to be driven by the conversion opportunity from DFS that is unique to both companies [4]
On the flipside, a case study to examine going forward is how DKNG can get OSB customers in a State that does not allow DFS. Nevada. Home to Las fucking Vegas. Prior to NV pushing FanDuel/DKNG out (highly likely due to casino lobbying), NV was a top-15 State in terms of revenue for them. NV is home to the fattest sports book in the US, & recently the gaming commission started to parse the data on sportsbook wagers done online vs. in-person, & it came out to roughly 50/50. It will be interesting to see how they try to capture market share in a state with no DFS
Long-term EBITDA margin target of 35% requires huge growth in MUPs
Based on their estimated '22 cost structure: Holding ARPU of ~$46, MUPs will have to be ~5.2mm, a 7x increase from current to achieve a EBITDA margin of 35%
A focus on future earnings will be management's ability to shift to a more fixed-cost structure which would effectively lower the MUP requirement for profitability
Things to look for when going Long - Progress of additional States legalizing sports betting – specifically, States with DFS already legalized - Cost structure evolving to a more fixed mix vs. the mostly variable mix currently as this will be the forward figure that determines profitability - Increasing User Base (Curr.: 12mm) -> Monetized Base (Curr.: 4mm) -> MUP (1Q’20: 0.7mm)
Management seems to be focused more on the first step, but one thing to note is that the 33% monetization rate is very high when compared to something like League of Legends which isn’t entirely comparable but in 2013 had a ~4% monetization rate [5]. This, combined with the below implies that this conversion rate may be the ceiling for now
As a side note, ~6 years ago FanDuel had ~300k monetized on an ~800k user base for a monetization rate of ~37% [6]
Share Price Target Given the cost structure of the company, I’m going to base the price targets around Enterprise Value / Revenues (driven by MUPs & ARPUs).
MUP sensitivity of 5mm - 6mm
ARPU sensitivity from $41 - $47 for an average of $44, just a $3 increase from current of $41.
Share Price targets based on 2.0x - 4.5x EV / Sales.
Note: Flutter Entertainment (FanDuel ParentCo) trades at ~3.6x EV/Sales
Bear Case MUP: 5mm -> $20.32 - $45.73 Base Case MUP: 5.5mm -> $22.27 - $50.10 Bull Case MUP: 6mm -> $24.21 - $54.47 These MUPs imply a monetized customer base of 28mm – 33mm. At the high-end, this implies that DKNG monetized customer base will equal MGM’s current total user base. At yesterday’s close of $43.70, DKNG is trading at 3.5x – 4.5x forward Revenues on an expected >5,000 MUPs. Share Price drivers / considerations: - Continued multiple expansion
Consideration: A 1x premium to FanDuel's 3.6x, implies a ~15% upside to current. They're bigger than FanDuel, do they deserve the premium?
- MUP Growth exceeding beyond targets
Consideration: Stock currently implies that they should on average be growing at 40% QoQ – during 2018 they had on average +30% growth QoQ in MUPs, marking their best year
Management Team Jason Robins, 39 – Co-Founder & CEO. Duke BA, started DraftKings from day 1 in 2011. The 2 other buddies he started the Company with are still at DKNG. Dude navigated the Company through the scandal that rocked them in ’15 & ’16, and was the trailblazer in getting DFS labeled as a non-gambling product that enabled it to open in States without a gaming designation. This shit is the stuff that gets people in history books. His accomplishments make him seem like a very competent guy. Has 3 kids now, and only ~3% economic ownership in DKNG but has 90% of the voting power through his Class B share ownership. Also he actively participates in venture investments, sitting on 10 boards. His comp plan performance bonus target is pretty murky, but main drivers are EPS growth, revenue growth, then a bunch of margin & return metrics, along with share price returns. Overall, very open-ended & it’s safe to say as long as shit doesn’t hit the fan, he will be eligible for his max payouts year over year. I’m assuming the lawyers tried to encompass everything possible for maximum flexibility to justify him earning his max comp as long as DKNG is still around. Since he’s got voting control of 90%, I’ll end the specific-person overview here, but want to note that they have a very bloated C-suite. 12 folks at DKNG, 8 folks at SBTech, all with C-suite designations. Whereas their main competitor FanDuel, has 3 guys with a C-suite designations & 1 EVP, but is a sub under a larger ParentCo that has its own management team of ~5 guys. Looking through glassdoor you can see the biggest complaint among employees giving bad reviews is based on management, all of the specific issues they point out IMO are a result of a top-heavy company. Seems like a good starting point to optimize their cost structure, but given Robins' history of sticking this entire thing through with his co-founders since '11 stuff like this doesn't seem to be a part of his playbook. They’re a public company now though, so it’s going to be interesting to see going forward. TL;DR: If I were to initiate a position in DKNG, the stock would have to fall to the $35-$37 range for me to be a buyer of the stock, and based on this rough intro analysis I'll be considering Put options if it breaches $50. I would not touch Calls at this level. [1] Wall Street Research - 6/27/19 [2] https://rotogrinders.com/articles/bang-for-your-buck-a-look-at-dfs-industry-rake-153302 [3] https://draftkings.gcs-web.com/static-files/8f3a5c5a-7228-45bf-aab2-63604111c48d [4] Wall Street Research - 5/19/20 [5]https://www.gamasutra.com/view/news/223071/Dont_monetize_like_League_of_Legends_consultant_says.php [6] https://rotogrinders.com/threads/how-many-people-actually-play-dfs-regularly-252044
Recap – Despite a huge gain on Friday, the SPY continued the bullish trend and ended up 1%. The Momentum plays on Friday were BHC and HPE. They finished at +6.55% and 4.37% respectively. If you played these in the after-hours market Friday you should have made out pretty well. Unfortunately, my limit orders were never filled. The Classic UOA picks of SABR and APA collectively did okay. SABR was quite a bit higher in the morning at 11.50 but proceeded to drop for the rest of the day ending at -1%. If you had a reasonable take profit that should have hit. The second pick, APA, ended up 9.77%. Site update – Economic Calendar has been updated to be more useful. This week I am going to focus heavily on the resources area so be sure to check it out. Eventually it will be a database with the most useful sites both free and paid that could help you to make the best decisions possible. There is also an email subscribe button now (it has yet to be tested). Here’s the Option Activity Summary for today – June 8th, 2020 Option Activity Fast Facts (Stocks >$6) Highest Multiple over Daily Avg (with ADV >5k) –IVR with 11x it’s ADV of 20,489. 202k calls traded and 31k puts. Ticker with most contracts Traded – GE with 591k contracts traded and 2x it’s ADV of 285k. 462k calls traded and 128k puts. Largest Put to Call Ratio (w/ Option volume over 10k) – IEF with P/C ratio of 70 and 159 calls and 11k puts. Largest Call to Put Ratio (w/ Option volume over 10k) – SONO with 33 C/P ratio. 37k calls and 1.1k puts. 1.Ticker : FTCH Spot Price : $15.58 +1.55, +11.05% Company Summary (from Yahoo Finance): Farfetch Limited, through its subsidiary, Farfetch.com Limited, provides an online marketplace for luxury goods in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in three segments: Digital Platform, Brand Platform, and In-Store. The company operates Farfetch.com, an online marketplace, as well as Farfetch app for retailers and brands. It also offers web design, build, development, and retail distribution solutions for retailers and brands. In addition, the company operates two Browns retail stores in London; one Stadium Goods retail store in New York; and two New Guards Off-White stores in Las Vegas and New York. Further, it operates approximately 50 New Guards franchised retail stores. Farfetch Limited was founded in 2007 and is headquartered in London, the United Kingdom. Special Considerations : None Next Earnings date: 08/06/2020 Option Information : Today’s Option Volume : 28,438 Average Daily Volume : 3,433 Multiple over ADV:8 Total Calls : 27,462 Total Puts : 976 C/P Ratio :28 Calls at ask % :45Calls at bid % : 24 Puts at ask % :11Puts at bid % : 52 Notable strikes : JUN 19 ’20 $16 strike with 18.7k volume today. Previous OI of 575. My Impression : FTCH is presenting at the Deutsche Bank dbAccess 17th Global Consumer Conference 2020 June 11th, 2019.It had a large spike today, but has been as high as $16.59. The Calls at ask % looks pretty bullish to me. This is similar to FLEX, BHC, and HPE. This is mostlikely buying the rumor and selling the news. Looks solid to me, I bought shares AHs. 2.Ticker :EVRI Spot Price : $7.88, +.90, (+12.86%) Company Summary (from Yahoo Finance): Everi Holdings Inc. provides technology solutions for the casino gaming industry in the United States, Europe, Canada, the Caribbean, Central America, and Asia. The company operates in two segments, Games and FinTech. It offers gaming products, such as classic mechanical reel games, video reel games, core HDX, Empire MPX and the Texan HDX, wide area progressive games, and slot tournament systems; and sells player terminals, licenses, back office systems, and other related equipment. The company also provides Cash access services; Casino Cash Plus 3-in-1 ATM, a cash-dispensing machine that enables ATM cash withdrawals, POS debit card cash access transactions, and credit card cash access transactions; check verification and warranty services; CashClub that provides gaming establishments with a single dashboard interface to streamline credit and debit card cash access transaction processing and check warranty transactions; fully integrated kiosks that provide multiple functions to the casino floor; and other integrated kiosk solutions. In addition, it offers Everi Compliance, a suite of compliance software to assist with anti-money laundering regulations; Central Credit, a gaming patron credit bureau service; non-ATM terminals that perform authorizations for credit card cash access and POS debit card transactions; database services; and an online payment processing solution for gaming operators in states that offer intra-state, and Internet-based gaming and lottery activities. The company was formerly known as Global Cash Access Holdings, Inc. and changed its name to Everi Holdings Inc. in August 2015. Everi Holdings Inc. was founded in 1998 and is headquartered in Las Vegas, Nevada. Special Considerations : Earnings 06/02/2020 Next Earnings date: 08/4/2020 Option Information : Today’s Option Volume :Average Daily Volume : 2,537 Multiple over ADV : 9 Total Calls : 22,837 Total Puts : 293 C/P Ratio : 77 Calls at ask % : 48% Calls at bid % : 24% Puts at ask % : 11% Puts at bid % : 16% Notable strikes : JUN 19 ’20 10C with 12.9k vlm and 4.94 OI. 3.28k VLM at the 12.5C same expiry. My Impression : Calls at ask % looks very bullish. 9x ADV. With the run up of PENN and DKNG I am amazed this fell through the cracks. It’s 52 wk high was $15. I don’t see any news on briefing to warrant the sharp increase. CLASSIC UNUSUAL OPTIONS ACTIVITY – Summary : Friday’s picks HPE and BHC ended up pretty well today. Keep in mind, both of these stocks have conferences coming up. BHC has the Goldman Sachs 41st Annual Virtual Global Healthcare Conference June 10th and HPE has the conference tomorrow. Keep this in mind if you held through today. Buying the rumor and selling the news is usually a safe bet. Regarding the momentum stocks, EVRI and FTCH look solid to me. With the recent run up of gambling stocks EVRI seems all around solid for a shorter-term hold. I bought both EVRI and FTCH in after hours. As for the Classic UOA stocks, I’m not playing either of these but will likely do a call spread on TSLA tomorrow. Thanks for reading. DISCLAIMER – These are my observations that I have made at the end of each day and trades that I am considering placing or watching. I am not responsible for your financial losses if you follow any of these trades. As always, do your own due diligence. Edit: If you liked the post please don't forget to upvote and or leave a comment!
Latest Casino and Gambling News, U.S.A., Gaming Industry News, Technology, Game manufacturers, The Players Lounge, Online Gambling News, Nevada In the United States and lottery and gaming machines innovator International Game Technology (IGT) has reportedly just been granted a patent that could soon allow punters to play a range of land-based As a result of the pandemic, casinos in Nevada had their worst year in terms of gaming revenue in over two decades. Total gaming win for the state’s casinos fell 34.6% year-on-year to $7.87bn in 2020. The Las Vegas Strip suffered significantly, seeing its total win dropping 43.3% to $3.73bn. Nevada’s gaming properties got some welcome coronavirus-related news from Gov. Steve Sisolak (D) on Thursday. He plans to gradually return gaming floor occupancy to 50 percent of capacity given the improvement seen in the number of COVID-19 cases. Nevada Gov. Steve Sisolak (D) announcing his new COVID-19 plan. He expects to gradually ease capacity restrictionsRead More » As of July 28, Nevada collected $344,027 in gambling taxes, down 99.39% compared to the $56,519,013 recorded last July. News:Las Vegas airport passenger volume down 91.5% in May during casino shutdown The state Gaming Control Board blamed the coronavirus pandemic for results showing that casino house winnings totaled $7.8 billion for 2020, down 34.6% from the previous year and the lowest for a calendar year since 1997. The figure, which the board dubs “casino win,” came in at about $12 billion in 2019 and 2018. Tags: marnell gaming management, Nevada Despite the massive global COVID-19 pandemic that has crippled Nevada, as well as much of the world, a new casino could soon begin to emerge on the Silver The Nevada Gaming Commission and the Nevada Gaming Control Board govern Nevada's gaming industry through strict regulation of all persons, locations, practices, associations and related activities. Nevada’s gaming properties got some welcome coronavirus-related news from Gov. Steve Sisolak (D) on Thursday. He plans to gradually return gaming floor occupancy to 50 percent of capacity given Nevada Governor Steve Sisolak presented a new strategy to roll out vaccines to essential workers and those working in important economic sectors, such as frontline casino employees. The news on Monday afternoon came alongside the announcement that current COVID-19 restrictions in the state will remain in place for another 30 days. The state’s sportsbooks won $12.6 million on $136.1 million in wagers on Super Bowl LV, according to figures released Tuesday by the Nevada Gaming Control Board.
Las Vegas Casinos Reopening Update - May 16, 2020 - YouTube
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