www.betway.com.gh login.Enjoy Free 888+200 Daily Legal Bonus https://www.portalapp.net/news/players/ Latest Casino and Gaming News Fri, 02 Aug 2024 15:07:56 +0000 en-US hourly 1 https://wordpress.org/?v=6.4 https://www.portalapp.net/news/wp-content/uploads/2019/06/cropped-corg-favicon-512-1-32x32.png Gamblers & Poker Player Profiles and News - Casino.org https://www.portalapp.net/news/players/ 32 32 Matt Damon Wants to Make Rounders 2 https://www.portalapp.net/news/matt-damon-wants-to-make-rounders-2/ https://www.portalapp.net/news/matt-damon-wants-to-make-rounders-2/#comments Fri, 02 Aug 2024 14:49:49 +0000 https://www.portalapp.net/news/?p=326900 Matt Damon says he��s desperate to make a follow-up to the 1998 cult poker movie “Rounders.” Speaking on the “Rich Eisen Show” this week, the Hollywood star said that so much has happened in the poker world over the quarter century since the first movie, it’s screaming out for a sequel. What��s more, many of […]

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Matt Damon says he��s desperate to make a follow-up to the 1998 cult poker movie “Rounders.” Speaking on the “Rich Eisen Show” this week, the Hollywood star said that so much has happened in the poker world over the quarter century since the first movie, it’s screaming out for a sequel.

Matt Damon, Rounders, Rounders sequel, Rounders 2, Edward Norton, John Malkovich
Matt Damon, above, says it��s high time for a “Rounders” sequel, and many of the people who were behind the original movie think so too. (Image: Shutterstock)

What��s more, many of those involved in making the original are on board with the idea, including Damon��s co-star Edward Norton.

“The one we’ve been talking about for years, and we’re trying to do — and I just saw Edward Norton a few weeks ago �� like, all of us want to do it — is a second “Rounders” movie,�� Damon said. ��So much has happened in the poker world in the last 25 years, it would be fun to catch up with those guys.”

When the Flop Hits You

“Rounders” was initially a box-office flop, pulled from theaters by Miramax after just three weeks, but it later gained a cult following on DVD. Along with the invention of the hole-card cam, the advent of online poker, and amateur qualifier Chris Moneymaker��s shock 2003 World Series of Poker victory, the movie is credited with kickstarting the ��poker boom�� in the 2000s.

The film follows the adventures of Mike McDermott (Damon) and his degenerate hustler friend ��Worm�� (Norton). Mike is torn between two worlds, the seedy demi-monde of the underground New York poker scene and the ��normal�� life he is trying to live as a respectable law student with his girlfriend Jo (Gretchen Mol).

Mike fantasizes about revenge against a Russian gangster, who takes him for his entire bankroll at the beginning of the movie. The gangster, ��Teddy KGB,�� is played with hammy, sinister relish by the Oreo cookie-munching John Malkovich.

Worm comes back into Mike��s life after being released from prison and confides he owes money to some bad people. So the two hit the tables in a bid to pay off the debt, leading to a final showdown with TeddyKGB. Ultimately, Mike rejects the idea of a normal life, chooses poker, and heads to Vegas to seek his fortune.

Legal Hurdles

Damon says plans for a sequel are still tied up in legal wrangling, but he believes this can be overcome.

��You have to figure out the chain of title, who owns it — and everybody��s got their hands in the pot,�� he said.

We have to figure out a deal that makes sense for everybody, particularly the people who are going to make the movie �C that��s the artists�� equity, that��s who we care about, the cast and crew. And so, we��re trying to figure that out because I think we��d all like to do that.��

Damon added that “Rounders” writers David Levien and Brian Koppelman had a script for a sequel ready around 10 years ago, which he described as ��fantastic�� and ��a movie ready to go,�� but it never got off the ground.

��Now there’s been another whole change in the poker world since then �� I’m sure they could augment and roll with the times and update [the script] to where we are today and make something great,” Damon said.

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Poker Player Allen ‘Chainsaw’ Kessler Talks About His $1.2M Slot Jackpot at Thunder Valley Resort https://www.portalapp.net/news/poker-player-allen-chainsaw-kessler-talks-about-his-1-2m-slot-jackpot-at-thunder-valley-resort/ https://www.portalapp.net/news/poker-player-allen-chainsaw-kessler-talks-about-his-1-2m-slot-jackpot-at-thunder-valley-resort/#respond Thu, 01 Aug 2024 17:32:13 +0000 https://www.portalapp.net/news/?p=326740 Poker player Allen “Chainsaw” Kessler hit a mind-blowing $1.2M jackpot playing a slot machine at the Thunder Valley Resort in Northern California on Monday. The aftermath of the seismic win was videoed by ��Chainsaw�� himself and posted to social media Tuesday. It occurred after a 12-hour session on Aristocrat Leisure��s Buffalo Power Pay slot. Kessler, […]

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Poker player Allen “Chainsaw” Kessler hit a mind-blowing $1.2M jackpot playing a slot machine at the Thunder Valley Resort in Northern California on Monday.

Allen Kessler, Chainsaw, jackpot, Thunder Valley Resort, Buffalo Power Pay Slot
Allen ��Chainsaw�� Kessler poses with an outsized novelty check for $1.2 million at the Thunder Valley Resort in Northern California. He says the win won��t change him. (Image: Allen Kessler/Thunder Valley Resort/Aristocrat Leisure)

The aftermath of the seismic win was videoed by ��Chainsaw�� himself and posted to social media Tuesday.

It occurred after a 12-hour session on Aristocrat Leisure��s Buffalo Power Pay slot. Kessler, who was in town to play the RunGood Series poker event, was betting $125 per spin during the session and was down $12,500 when the stars aligned.

��So Surreal��

Three-time WSOP Circuit Ring-winner Kessler is an eccentric figure in the poker community, much loved for his endearing and fastidious obsession with the proper rules of the game and for railing against occasional statistical injustices inflicted by the poker gods.’

On social media, Kessler likes to post about the shocking price of food in Las Vegas, although dinner may be on him for some time to come. And he��ll never be able to talk about bad beats ever again.

��Omg, this just f###in happened. Covers my entire WSOP debacle with $1m to spare,�� Kessler wrote in a tweet accompanying the video of his win.

It was so surreal,�� Kessler told Casino.org Wednesday after he��d had some time to recover. ��I��ve seen that wheel spin a million times, and it��s frequently a near miss, stopping at the one before or after the $1.2 million spot. When it stopped on the jackpot, my jaw dropped.��

While many poker players eschew slots and other casino games for their negative expected value, Kessler is a big fan and even plans his poker tournament schedule around events that are attached to real casinos so he can play them when he busts.

It��s relaxing, he says, and he can afford it, although he admits that he was betting way higher than usual on Tuesday. He also enjoys the comps casinos lay on for their big-spending players, such as the free rooms and food.

Chainsaw��s Biggest Gambling Win

Despite being among a select group of people to have cashed more than 100 times at WSOP events, Kessler says this is his biggest gambling win ��by far.��

All that was left was to decide whether to take the lump sum up front, or a series of payments over 20 years. He opted for the lump sum because ��with my diet, I may not live 20 years.��

Do you plan to do anything special with the money, we ask.

��Not really, I��ll just keep plugging along,�� says Kessler.

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Poker Legend Hellmuth Sells Rush Street Interactive Stock on Affiliate News https://www.portalapp.net/news/poker-legend-hellmuth-sells-rsi-stock-on-affiliate-news/ https://www.portalapp.net/news/poker-legend-hellmuth-sells-rsi-stock-on-affiliate-news/#comments Wed, 31 Jul 2024 21:26:30 +0000 https://www.portalapp.net/news/?p=326687 Poker legend Phil Hellmuth said Tuesday that he liquidated his equity stake in Rush Street Interactive (NYSE: RSI) after the gaming company announced it will halt its affiliate program in the states in which it operates — a decision that was met with criticism in some gaming circles. In a post on X (formerly Twitter) […]

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Poker legend Phil Hellmuth said Tuesday that he liquidated his equity stake in Rush Street Interactive (NYSE: RSI) after the gaming company announced it will halt its affiliate program in the states in which it operates — a decision that was met with criticism in some gaming circles.

Poker legend Phil Hellmuth. He sold his equity position in Rush Street Interactive after the company ended its affiliate program. (Image: ESPN)

In a post on X (formerly Twitter) that Hellmuth stated was ��NOT investment advice,�� he did not mention Rush Street Interactive��s decision to halt its affiliate platform. Rather, he expressed concern about macroeconomic conditions and broader market valuations.

Today I sold all of my shares (165,000 shares) of $rsi stock at $10 a share. I still believe in @RSInteractive_, but I��m afraid of macro economics conditions. The SandP 500 seems overvalued to me: boats rise and fall w the level of the water, stocks rise and fall w the market,�� opined Hellmuth.

In 2020, Hellmuth invested $300,000 in special purpose acquisition company (SPAC) dMY Technology Group Inc., which that year merged with RSI, paving the way for the gaming company to go public. Based on that claim and his assertion that he sold 165,000 shares at $10 apiece equaling $1.65 million, Hellmuth��s RSI investment grew more than fivefold.

Perhaps Regrettable Timing in Hellmuth Sale of RSI Stock

There��s no denying that Hellmuth��s returns on Rush Street Interactive shares are enviable and selling a stock that��s returned 161.36% in a year is an arguably prudent move, but it��s possible that the 17-time World Series of Poker (WSOP) bracelet winner could have realized even more gains on RSI.

The company has long been rumored to be a takeover target and if such a deal is formally announced, it��d likely add the aforementioned rally. Beyond consolidation rumors, RSI has organic tailwinds, including surging revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA).

Late Wednesday, RSI reported second-quarter results while revising its 2024 sales forecast and its EBITDA guidance to $64 million to $72 million. That sent the stock higher by almost 10% in after-hours trading, as of this writing. Should the stock close at $11 on Thursday, that would represent $165,000 in missed profits for Hellmuth, though that��s pennies for someone whose career poker earnings are north of $30 million.

��RSI expects revenue for the full year ending December 31, 2024 to be between $860 and $900 million, increasing the midpoint by $45 million compared to the prior guidance. At the midpoint of the range, revenue of $880 million represents 27% year-over-year growth when compared to $691 million of revenue for 2023,�� according to a statement issued by the Chicago-based gaming company.

Inside Rush Street Affiliate Decision

While Hellmuth didn��t overtly say that his decision to dump RSI stock was sparked by the operator��s decision to halt its affiliate program, the timing of the sale led to related speculation.

Yesterday, RSI emailed affiliates in Arizona, Colorado, Illinois, Indiana, Louisiana, Maryland, Ohio, and Virginia to tell them that the affiliate program will end on Aug. 31. No reason was given for that decision and the gaming company told affiliates they must strike all RSI advertisments and tracking links from their sites by that day.

Under the affiliate model, websites produce content related to iGaming, poker, and sports betting with links to various gaming companies�� mobile apps and sites, earning commissions for referred bettors.

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UPDATE: Poker Player Dan Bilzerian Criticized By ADL After Bashing Israel, Pro-Israel Lobby in Post https://www.portalapp.net/news/poker-player-dan-bilzerian-bashes-israel-pro-israel-lobby-in-post-with-2-2m-views/ https://www.portalapp.net/news/poker-player-dan-bilzerian-bashes-israel-pro-israel-lobby-in-post-with-2-2m-views/#comments Mon, 24 Jun 2024 01:07:00 +0000 https://www.portalapp.net/news/?p=323482 Controversial poker player Dan Bilzerian criticized Israel and the AIPAC lobbying group in a social media post this weekend. It got over 2.2M views.

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UPDATE: The Anti-Defamation League (ADL) on Tuesday warned poker player Dan Bilzerian to stop spreading “dangerous” conspiratorial theories when it comes to Israel and the role its supporters play in the US.

��Dan Bilzerian seems to have been using his online presence to spread conspiracy theories of all kinds, including the classic anti-Semitic trope that Israel controls the media and the United States government,” an ADL spokesperson told Casino.org.

“At a time when antisemitism is already at historic levels, this is dangerous behavior from an influencer. We hope he will take the time to educate himself about the history of these tropes in spreading hate and reconsider his words.��

____________________________________________________________________________________________________________

EARLIER: Controversial poker player Dan Bilzerian criticized Israel and the AIPAC lobbying group in a social media post this weekend, which generated more than 2.2M views.

Poker player Dan Bilzerian
Dan Bilzerian, pictured above, posted anti-Israel comments over the weekend. (Image: Poker News)

Invoking conspiracy theories, Bilzerian claimed on X, formerly known as Twitter, that AIPAC, the American Israel Public Affairs Committee, ��makes our government put Israel��s interests before ours.��

��[Jeffery] Epstein[‘s] island was an Israeli Mossad op[eration] to blackmail US politicians,” Bilzerian added.

Epstein was a convicted sex offender of Jewish heritage who had owned Little Saint James, an island in the US Virgin Islands.

In addition, Bilzerian alleged, ��Covid[-19] was a scam, and we got poisoned while Israeli big pharma made billions, and our Israeli-controlled government and media forced it. The US is an occupied nation.”

Many anti-Jewish and anti-Israel posts from hundreds of individuals were placed under Bilzerian��s comments.

Israeli Media Covering

Bilzerian’s statements were the focus of an article in Israel��s leading news outlet, the Jerusalem Post.

On June 10, Bilzerian made similar online comments against AIPAC.

��Until AIPAC registers as a foreign agent, we will remain a puppet of Israel,�� he posted on social media.

On May 28, Bilzerian commented online, ��In case y��all were confused on where I stand, let me be clear, F**k Israel,�� the Jerusalem Post reported.

Casino.org reached out to AIPAC for comment. No immediate statements were available on Sunday.

Who is Dan Bilzerian?

Bilzerian, 43, is sometimes called the?��King of Instagram�� and has a reputation as a playboy.

He was born in Tampa, Fla. and once lived in Las Vegas.

He took part in the 2008 World Series of Poker Main Event where he finished 180th. He also claims to have won $10.8M during one night of poker.

Bilzerian founded Toronto-based Ignite International Brands Ltd. Among its products are CBD oils, electronic cigarettes, vodka, and water bottles. He also attempted to run for US president in 2016.

In 2015, he avoided a jail sentence but was ordered to pay a fine after negligently failing to extinguish a fire on federal land near Las Vegas.

In January, Casino.org ranked Bilzerian as the game’s wealthiest poker player with a net worth reported to be $200M.

He claims his money comes from wins on high-stakes poker games, but news reports counter it��s mostly from a trust fund set up by his financially successful father who’s known for many corporate takeovers.

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Poker Player Doug Polk��s Plan for Largest Texas Card Room Goes Up in Smoke https://www.portalapp.net/news/poker-player-doug-polks-plan-for-largest-texas-cardroom-up-in-smoke/ https://www.portalapp.net/news/poker-player-doug-polks-plan-for-largest-texas-cardroom-up-in-smoke/#respond Thu, 09 May 2024 23:42:49 +0000 https://www.portalapp.net/news/?p=319605 The City of Farmers Branch, a Dallas suburb, has passed on the chance to host Texas�� largest poker room. On Tuesday, the city council voted 4-1 against an ordinance that would have legalized card rooms, paving the way for the proposed venue. The decision dashes the plans of three-time World Series of Poker bracelet winner […]

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The City of Farmers Branch, a Dallas suburb, has passed on the chance to host Texas�� largest poker room. On Tuesday, the city council voted 4-1 against an ordinance that would have legalized card rooms, paving the way for the proposed venue.

Doug Polk, Farmer's Branch, Texas, poker room, card club
Poker��s Doug Polk, above, wanted to bring a 47,000-square-foot card room to the City of Farmers Branch, Texas, but was rebuffed by city officials this week. (Image: 888)

The decision dashes the plans of three-time World Series of Poker bracelet winner Doug Polk, who wanted to open a 47,000-square-foot card room with a bar, restaurant, and 100 poker tables.

Polk said the facility would have employed around 300 people and attracted an estimated 300K visitors per year. Farmers Branch is a 20-minute drive from Dallas International Airport.

��It obviously wasn��t the result we were looking for. It felt like there were a lot of comments about residents not supporting us and that��s not true,�� Polk told The Dallas Morning News after the vote. ��We had a lot of supporters here and I just want to thank them. It��s not just the outsiders to Farmers Branch that lost tonight, but also a lot of residents.��

Legally Ambiguous

Polk and his business partners already own the biggest card room in Texas, the Lodge Card Club in Round Rock, but the Farmer��s Branch venue would have been bigger. The poker player indicated to The Morning News that he hadn��t given up on his plan and was prepared to look for a new location. He described the region as a ��premium market.��

For a man who made his fortune taking calculated risks at the poker table, investing in Texas�� live poker industry seems like a pure gamble for Polk.

The legality of poker clubs is ambiguous in the state, and there is no certainty that the live poker scene will endure. This may have played into the thoughts of the Farmers Branch City Council.

Poker rooms like the Lodge argue they operate via a loophole in the law because they are private clubs.

Gambling is illegal in Texas unless expressly authorized by the legislature. However, it is a defense to prosecution [for gambling]�� if ��the actor engaged in gambling [is] in a private place [and] no person received any economic benefit other than personal winnings.��

So, instead of taking a rake, Texas card rooms charge customers by the hour to be at the venue. Let��s just say not everyone is down with this interpretation of the law. Detractors argue the carveout was intended only for private home games and the clubs operate as commercial venues in practice.

Dallas U-Turn

The nearby City of Dallas legalized poker in 2019 when it granted a license to its first card room, the Texas Card House.

But in January 2022, the city revoked the club��s permit and advised the card room��s owners they were ��keeping a gambling place.�� That followed intervention from Dallas City Attorney Chris Caso.

The situation is tied up in legal wrangling, but the club has been permitted to remain operational pending resolution of lawsuits.

The case is likely on a collision course with the Texas Supreme Court, which will decide the clubs�� legality once and for all.

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Einhorn��s Greenlight Capital Takes Penn Entertainment Stake https://www.portalapp.net/news/einhorn-says-greenlight-has-new-position-in-penn-entertainment/ https://www.portalapp.net/news/einhorn-says-greenlight-has-new-position-in-penn-entertainment/#respond Wed, 24 Apr 2024 20:52:25 +0000 https://www.portalapp.net/news/?p=318250 Shares of Penn Entertainment (NASDAQ: PENN) jumped 2.4% Wednesday on volume that was 55.7% above the daily average after David Einhorn disclosed that his Greenlight Capital took a ��medium sized�� stake in the regional casino operator in the first quarter. In a letter to the hedge fund��s clients, Einhorn said Greenlight established a position in […]

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Shares of Penn Entertainment (NASDAQ: PENN) jumped 2.4% Wednesday on volume that was 55.7% above the daily average after David Einhorn disclosed that his Greenlight Capital took a ��medium sized�� stake in the regional casino operator in the first quarter.

Einhorn Betway
Greenlight Capital founder David Einhorn at the World Series of Poker. His hedge announced a new stake in Penn Entertainment. (Image: Institutional Investor)

In a letter to the hedge fund��s clients, Einhorn said Greenlight established a position in Penn at an average price of $22.69, well above the stock��s closing price of $17.84. The shares are off 24% over the past 90 days and 31.4% year to date, making Penn one of the worst-performing gaming equities over those periods. Einhorn argued markets are assigning negative value to Penn��s ESPN Bet unit, but he sees potential in that segment.

It’s fair to say that after the Barstool fiasco, investors have serious doubts about the company’s strategy and management’s competence to execute,” Einhorn wrote in the letter. “Were the market to credit PENN with merely 15% of DraftKings’ value, the segment alone would be worth $20 a share.”

On Monday, Penn announced the hiring of former Walt Disney (NYSE: DIS) executive Aaron LaBerge as chief technology officer (CTO) — a move that could bolster the interactive division, including ESPN Bet. ESPN Bet debuted last November.

Einhorn Sees Value in Penn’s Land-Based Casinos

Since Penn took a now-eliminated stake in Barstool Sports in January 2020, many market participants have viewed the operator as an online gaming play while ignoring its brick-and-mortar regional casinos.

That shouldn��t be the case. While the brief marriage with Barstool Sports and the recent launch of ESPN Bet are headline generators, and the latter could be material to the long-term Penn investment thesis, the reality is the company generates the bulk of its earnings and revenue from land-based casinos. Einhorn believes markets aren��t assigning adequate value to that side of the business.

��PENN’s current enterprise value is just over $4.3 billion, and based on 8-12x multiple of free cash flow, we valued their land-based casinos between $4.3 billion and $7 billion,�� wrote the Greenlight founder.

Even at $4.3 billion, the low end of the range mentioned above, that��s a substantial premium to Penn��s current market capitalization of $2.53 billion.

Einhorn��s Greenlight is No Stranger to Gaming Stocks

Einhorn��s Greenlight joins HG Vora as the well-known hedge funds that have recently taken stakes in Penn. Last December, HG Vora said it took an interest of 18.5% of Penn��s shares outstanding and demanded board seats in an effort to push for change at the gaming company.

For its part, Greenlight is also familiar with gaming equities, having previously held numerous positions across the industry, including in firms born out of blank-check deals, including Genius Sports (NYSE: GENI) and Playstudios (NASDAQ: MYPS). There was also speculation that a short position in DraftKings (NASDAQ: DKNG) may have been among the contributors to the hedge fund��s impressive 2022 performance.

Einhorn himself is an accomplished poker player. In 2012, he finished third in the World Series of Poker, winning $4.35 million in the process.

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Poker Legend Crandell Addington Dies, Age 85 https://www.portalapp.net/news/poker-legend-crandell-addington-dies-age-85/ https://www.portalapp.net/news/poker-legend-crandell-addington-dies-age-85/#respond Fri, 19 Apr 2024 10:40:27 +0000 https://www.portalapp.net/news/?p=317823 ��Limit poker is a science, but no-limit is an art. In limit, you’re shooting at a target. In no-limit, the target comes alive and shoots back at you.” So said former Texas road gambler and Poker Hall of Famer Crandell Addington, who died last week at age 85. And he should know �C until he […]

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��Limit poker is a science, but no-limit is an art. In limit, you’re shooting at a target. In no-limit, the target comes alive and shoots back at you.”

Crandell Addington, poker, obituary
Crandell Addington (center in suit, Stetson) competes with the late, great Doyle Brunson to his right in an early World Series of Poker event. (Image: Ulvis Alberts)

So said former Texas road gambler and Poker Hall of Famer Crandell Addington, who died last week at age 85. And he should know �C until he retired from poker in the 1980s to devote his time to the oil and biotech industries, Addington was considered to be one of the best No-Limit Hold’ em players in the world.

Known as ��the Dandy�� because of his love of well-tailored suits (he sometimes changed clothes three times a day), Addington was one of the founders of the World Series of Poker.

First WSOP

In 1969, Addington won the Texas Gamblers Convention tournament in Reno, Nev., which was the forerunner of the World Series. The following year, the event was reincarnated at Binion��s Horseshoe in Las Vegas and given the name we know it by today.

Addington made the final table of the WSOP Main Event almost every year from 1972 to 1979. To this day, he holds the record for the most final table appearances �C seven �C although it must be said that the fields were somewhat smaller in Addington��s heyday.

Road Gambler

Previously, he had been a Texas road gambler, traveling the sometimes perilous underground poker circuit of his home state.

We did have weapons,�� he said when he was invited to address students at Harvard University in 2007. ��It was not really to use on each other. What we really wanted to be able to do was, if we won, we wanted to be able to get back to the car with the money. And so, not only did we have to beat a lot of really good players, but we had to dodge the hijackers and often times the sheriff of the county.”

Addington applied some of the strategies he learned at the poker table to business, when, in the 1980s he went looking for black gold in Texas. He built a successful oil business and later branched out into biotech, co-founding Phoenix Biotechnology in 2003, which develops plant-based medicines for treating human and animal diseases.

Addington was chairman and CEO of Phoenix until he was forced to retire because of ill health.

He supported many good causes in his life, animal charities in particular. He requested that his ashes be scattered among those of the many pets he had outlived, including his beloved black lab, Miss Joey, according to an obituary posted on Legacy.com.

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Former NBA Star Paul Pierce Settles Long-Standing $160K Poker Debt https://www.portalapp.net/news/former-nba-star-paul-pierce-settles-long-standing-160k-poker-debt/ https://www.portalapp.net/news/former-nba-star-paul-pierce-settles-long-standing-160k-poker-debt/#respond Mon, 20 Nov 2023 12:41:20 +0000 https://www.portalapp.net/news/?p=299702 Retired NBA star Paul Pierce has brought to a close a long-running legal battle against him by Stephen Carmona. The settlement over a disputed poker debt, according to the website Radar Online, indicates the two have reached an agreement to put the feud to rest. The lawsuit, which Carmona initiated in 2022, centered around his […]

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Retired NBA star Paul Pierce has brought to a close a long-running legal battle against him by Stephen Carmona. The settlement over a disputed poker debt, according to the website Radar Online, indicates the two have reached an agreement to put the feud to rest.

Former NBA star Paul Pierce on the basketball court
Former NBA star Paul Pierce on the basketball court. Pierce settled a long-standing claim over a $160K poker debt he never repaid. (Image: Pinterest)

The lawsuit, which Carmona initiated in 2022, centered around his claim of having loaned $150K to Pierce so he could play in a pick-up poker game. Carmona alleged that Pierce, after losing $140K at the table, only returned $10K.

Additionally, Carmona said that he extended another $40K to Pierce so he could play again, and Pierce didn��t return any portion of that second loan. Pierce, in response to these allegations, vehemently denied any wrongdoing.

Read the Fine Print

Pierce, who spent 15 years with the Boston Celtics before bouncing around for a few years, argued that the agreements related to the loans were unenforceable. He emphasized that Carmona willingly assumed the risks associated with potential losses in the poker games.

As part of the settlement, Carmona agreed to drop all claims against Pierce, and each party will be responsible for covering their respective legal fees. There has been no mention of any monetary exchange.

In California, gambling debts are generally considered unenforceable and void. This means that individuals cannot be legally compelled to repay debts incurred through gambling, whether at a casino or a private setting.

Exceptions exist for debts arising from licensed gambling establishments. If a person acquires a gambling debt from a legally authorized venue, such as a tribal casino, that debt is enforceable by law. The legal distinction is crucial, as debts accrued in informal or illegal gambling settings remain unenforceable.

Pierce reportedly received the loans to play in a home poker game Carmona was hosting. As such, it would be considered an informal setting, and therefore, the debt cannot be enforced by a court of law.

Legal Woes Continue

The recent settlement with Carmona marks a significant step in resolving one aspect of Pierce’s complex financial situation. However, there are plenty more waiting as Pierce, who was reportedly worth $70 million two years ago, as he continues to grapple with various legal challenges.

These include a $1.4-million settlement with the Securities and Exchange Commission (SEC) over allegations of unlawfully promoting cryptocurrency securities. This past February, the financial watchdog attacked the NBA Hall of Famer for promoting EMAX without explaining that he was a paid endorser.

The SEC also accused him of providing false statements regarding the potential returns EMAX investors could make. Caught up in the same case were Kim Kardashian, Floyd Mayweather, and others.

In addition, Pierce faces another legal hurdle, as JPMorgan Chase Bank recently filed a lawsuit against him. The suit alleges that he ceased making payments on his 2019 Range Rover in December 2021.

Court documents filed in Los Angeles Superior Court show that Pierce had agreed to make monthly payments of $3,445.28 until the vehicle was fully paid off. As of the bank��s lawsuit a couple of weeks ago, the outstanding principal balance was $91,459.

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Kick Gambling Streamer xQc Kicked Out of Canadian Casino https://www.portalapp.net/news/twitch-turned-kick-gambling-streamer-xqc-kicked-out-of-canadian-casino/ https://www.portalapp.net/news/twitch-turned-kick-gambling-streamer-xqc-kicked-out-of-canadian-casino/#respond Mon, 13 Nov 2023 12:42:59 +0000 https://www.portalapp.net/news/?p=298331 Popular online streamer xQc, known for his gambling and video game content, was recently kicked out of a Canadian casino. xQc recently jumped from Twitch to Kick in a 9-figure deal. The Canadian streamer, whose real name is F��lix Lengyel, was removed from the casino while visiting with his family to celebrate his birthday. He […]

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Popular online streamer xQc, known for his gambling and video game content, was recently kicked out of a Canadian casino. xQc recently jumped from Twitch to Kick in a 9-figure deal.

Streamer XqC giving the thumb's up in a streaming session
Streamer xQc giving the thumbs up in a streaming session. He has allegedly been banned from all gambling in Canada’s Qu��bec province. (Image: xQc via Twitch)

The Canadian streamer, whose real name is F��lix Lengyel, was removed from the casino while visiting with his family to celebrate his birthday. He later took to X to share his experience.

According to his tweet, security personnel approached and dragged him out of the casino. The streamer pressed the casino’s security for an explanation. He then discovered he had been blacklisted from gambling anywhere in Qu��bec.

The ban includes all forms of provincial gambling, including iGaming and the lottery. The reason behind the prohibition traces back to an article that surfaced in Radio Canada last year where xQc admitted to having a gambling addiction.

Gambling Addiction

The article also detailed a case of a local man influenced by xQc to gamble after seeing his online streams.

Enneric Chabot, a Quebec City resident, followed xQc for years. In 2021, he saw an episode of the streamer gambling on Stake.com. Chabot had allegedly never gambled before and decided to open an account on the gambling platform. Chabot developed a gambling problem and, after falling deeper into debt, filed for bankruptcy.

The incident has ignited discussions among fans and the gaming community, raising questions about the intersection of online entertainment and real-world consequences. xQc, who has built a substantial following for his gaming antics on platforms like Twitch and Kick.

https://twitter.com/xQc/status/1723240409777033494

Million Dollar Contract

Kick, partially owned by Stake.com, has proudly announced that it will spend big money to attract streaming talent. Several months ago, it backed up the claim when it signed xQc to a lucrative content agreement worth as much as $100 million.

The foundation of the nonexclusive agreement is a $70-million payday for xQc that can grow to at least $100M over two years if he meets certain milestones. The deal underscores the growing influence and value of top-tier content creators and highlights the intense competition among streaming platforms vying for exclusive partnerships.

The nonexclusivity of the agreement means that xQc can continue to deliver content through Amazon-owned Twitch as well. He reportedly makes a minimum of $3.4 million a year as a base salary, not including his sponsorship deals.

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Messi Cements GOAT Status With Eighth Ballon D’or as Oddsmakers’ Favorite https://www.portalapp.net/news/messi-cements-goat-status-with-eighth-ballon-dor-as-oddsmakers-favorite/ https://www.portalapp.net/news/messi-cements-goat-status-with-eighth-ballon-dor-as-oddsmakers-favorite/#respond Tue, 31 Oct 2023 08:52:00 +0000 https://www.portalapp.net/news/?p=296403 Lionel Messi has done it again. The Argentine soccer GOAT clinched his eighth Ballon d’Or, confirming the predictions of oddsmakers, who had him listed as the clear favorite to keep his record achievement alive. In what turned out to be his final year of eligibility because of his recent move to Inter Miami in the […]

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Lionel Messi has done it again. The Argentine soccer GOAT clinched his eighth Ballon d’Or, confirming the predictions of oddsmakers, who had him listed as the clear favorite to keep his record achievement alive.

Leo Messi accepting a Ballon d'Or award
Leo Messi accepting a Ballon d’Or award. He won his eighth award Monday night, extending his lead as the record-setting soccer GOAT. (Image: AFP)

In what turned out to be his final year of eligibility because of his recent move to Inter Miami in the MLS, Messi continues to leave an indelible mark in the world of soccer. The decision to switch leagues and join Inter Miami effectively bars him from future nominations for the Ballon d’Or. But he’s already cemented his place in soccer history.

Messi’s closest competition in the Ballon d’Or run is Cristiano Ronaldo, who has five. If he still plans on retiring in 2026, it’s virtually impossible Ronaldo will catch up.

The Unstoppable Messi

The awards ceremony unfolded on Monday night at the historic Theatre du Chatelet in Paris. Presenting the trophy to Messi was his boss, Inter Miami co-owner and former English soccer phenom David Beckham.

https://twitter.com/ballondor/status/1719104753093755246

Messi’s Ballon d’Or victory is the crowning achievement of a season marked by exceptional success. He showcased his prowess in European soccer by claiming the Ligue 1 title and the Trophies de Champions with Paris Saint Germain.

The Argentine maestro and former FC Barcelona star also played a pivotal role in securing the FIFA World Cup for his homeland, Argentina. Surpassing formidable competitors like Erling Haaland of Manchester City, who secured second place in the odds, and Jude Bellingham, who secured the third spot, Messi once again demonstrated why he is considered one of the greatest soccer players of all-time.

Among the 30 finalists vying for the Ballon d’Or, notable names included Rodri, Kevin De Bruyne, Kylian Mbapp��, Vinicius Junior, Karim Benzema, and Harry Kane.

But Messi was the huge favorite to win, getting odds of around -2500 on most sportsbooks. Haaland had odds of +900 and Bellingham was getting +4000.

The night wasn’t a complete disappointment for Haaland. The Norwegian player took home the Gerd Muller Trophy, an award given to the best striker of the season.

Bonmat�� Triumphs for Spain

In the realm of women’s soccer, Spain’s Aitana Bonmat�� claimed the Ballon d’Or. Her remarkable contributions were showcased during Spain’s Women’s World Cup triumph just two months ago.

Bonmat�� not only played a crucial role in securing the title, but also left an indelible mark individually, scoring three goals and registering two assists. Her stellar performance earned her the Golden Ball, an accolade reserved for the World Cup’s best player.

Bonmat��’s influence extended beyond the international stage. Her impact was felt at Barcelona, where she played a pivotal role in securing a double triumph for the team last season. Barcelona clinched its eighth Liga F title, solidifying its dominance domestically, and also triumphed in the Women’s Champions League for the second time.

The 25-year-old was also the favorite with oddsmakers in the women’s race. She was getting odds of -150 ahead of the ceremony, a significant advantage over Real Madrid’s Olga Carmona and her +800. In third was Man U’s Mary Earps, with odds of +1000.

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Betting Analyst Doug Kezirian Joining Only Players Network https://www.portalapp.net/news/doug-kezirian-teams-up-with-only-players/ https://www.portalapp.net/news/doug-kezirian-teams-up-with-only-players/#respond Fri, 27 Oct 2023 22:32:25 +0000 https://www.portalapp.net/news/?p=296097 Betting analyst Doug Kezirian, who has long-running ties to Las Vegas, joined Only Players — an upstart sports wagering content platform. Kezirian, who was previously with ESPN for over a decade, will be Only Players�� primary host and is reportedly receiving equity in equity in the company. Doug joined Only Players as Chief Content Officer, […]

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Betting analyst Doug Kezirian, who has long-running ties to Las Vegas, joined Only Players — an upstart sports wagering content platform.

Former “Daily Wager” host Doug Kezirian on the set of that show. He’s now a part of Only Players, a multi-platform sports wagering media property. (Image: ESPN)

Kezirian, who was previously with ESPN for over a decade, will be Only Players�� primary host and is reportedly receiving equity in equity in the company.

Doug joined Only Players as Chief Content Officer, Senior Betting Analyst and main on-air talent to launch ��Wager Watch with Doug Kezirian�� in Las Vegas,�� according to the Only Players website. ��His two decades of broadcasting experience, half of which with ESPN, merged with betting acumen and insider access, make him an industry unicorn.��

Only Players is Kezirian��s next act following an 11-year stint at ESPN, which included him playing a pivotal role in bringing the ��Daily Wager�� show to life. He was one of dozens of on-air personalities laid off by ESPN earlier this year in a round of cost-cutting moves by parent company Walt Disney.

Kezirian Could Make Only Players a Player

As sports wagering has emerged from the shadows and is now permitted in 35 states and Washington, DC, there��s been an increasing intersection between gaming companies and media entities.

Some of those pacts have borne fruit, others are in the wait-and-see stage, and others have been failures. Specific to Kezirian and Only Players, as yet, there are no signs of direct marketing or sponsorship accords with sportsbook operators. That could come at a later date, but Only Players can leverage Kezirian to potentially drive traffic and get eyeballs on his daily 30-minute show that will be accessible via podcast.

Kezirian is an able bettor, as evidenced by the fact that he won $58,000 in the 2022 William Hill College Football Challenge and almost $300,000 in an NFL contest.

Only Players is reportedly looking for a linear television partner, according to the New York Post.

Kezirian Experience Matters

Kezirian could be a coup of Only Players in another way. He was essentially the architect of ��Daily Wager” just weeks before his departure from the network was made public, ESPN boasted of the show��s soaring ratings.

In another arguably questionable decision, ESPN announced in August that it would move ��Daily Wager�� from Las Vegas — the sports wagering capital of the US �C to Bristol, Conn. Headquarters. Before that move, which occurred on Sept. 7, the program had broadcast from a 6,000-square-foot studio inside The LINQ Hotel on the Las Vegas Strip for the past three years.

Kezirian, a Los Angeles native, moved to Las Vegas for a sports director position with the local ABC affiliate. He remains a resident of the city.

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Drake Reportedly Loses $1.3M Payout on Logan Paul Boxing Match https://www.portalapp.net/news/drake-reportedly-loses-1-3-million-payout-on-logan-paul-boxing-match/ https://www.portalapp.net/news/drake-reportedly-loses-1-3-million-payout-on-logan-paul-boxing-match/#respond Mon, 16 Oct 2023 08:29:03 +0000 https://www.portalapp.net/news/?p=293993 As his fabled curse continues, the renowned rapper Drake reportedly lost out on a substantial win this weekend. He told his social media followers that he allegedly placed an $850K bet on Logan Paul to emerge victorious against Dillon Danis in Saturday’s boxing match with a KO. Instead, Drake reportedly missed out on $1.35 million […]

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As his fabled curse continues, the renowned rapper Drake reportedly lost out on a substantial win this weekend. He told his social media followers that he allegedly placed an $850K bet on Logan Paul to emerge victorious against Dillon Danis in Saturday’s boxing match with a KO. Instead, Drake reportedly missed out on $1.35 million in potential winnings after Danis was disqualified.

Logan Paul gives a glancing blow to the head of Dillon Danis in their boxing match
Logan Paul gives a glancing blow to the head of Dillon Danis in their boxing match. Drake reportedly won big money on the fight, which ended in a DQ for Dillon. (Image: Getty Images)

The bet was purportedly made on the online gambling platform Stake.com, where Drake is an ambassador. While the details of the bet are speculative, the rumored success adds a new layer to Drake’s ventures beyond the music industry.

This triumph comes in the wake of a less fortunate gambling streak for the rapper. Reports suggest that Drake faced substantial losses in bets last year, tallying up to more than $4 million. Some reports say he wagered more than $2 billion in two months. The ups and downs of celebrity gambling aren’t uncommon, and Drake’s recent win highlights the unpredictable nature of sports betting.

Drake Backs the Paul Brothers

Earlier this year, the rapper reportedly placed bets on Jake Paul, Logan’s brother. It was a highly anticipated bout against Tommy Fury in February that, unfortunately for Drake, led to a million-dollar loss when the younger Paul brother lost.

Drake’s willingness to engage in substantial bets on both established and emerging figures in the boxing world showcases the evolving intersection of entertainment, sports, and betting. While the rapper’s financial gains and losses in the betting realm add an element of intrigue to his public persona, there have been rumors that many online betting platforms cut deals with their ambassadors and other social media personalities to fix the numbers.

The platforms will allegedly give the personality digital credits with which they can place their wagers. The amounts of the bets and the winnings, or losses, are only visual effects that have no real monetary value.

There’s no concrete evidence that this is the case with Drake and Stake.com. As the details continue to unfold and the world awaits confirmation from Drake or his representatives, this latest chapter in the rapper’s gambling journey adds an extra layer of fascination to his multifaceted career.

FanDuel had Paul at -490 to win the bout, with Danis getting +400. However, Drake could have won big if he had bet on Bodog. The platform reportedly had Danis at odds of +500 to attempt a guillotine, and +800 to get disqualified.

DQ Before TKO

Paul and Danis attracted attention for the boxing match they had at the AO Arena in the city of Manchester, England. Both had a score to settle as a result of their long-running war of words, which started in 2018 when Danis verbally attacked Paul following a bout the latter had just completed.

After years of verbal sparring, the two finally got into the ring on Saturday to settle their differences.

The fight went sideways in the sixth round when Danis apparently forgot in which sport he was fighting. The Mixed Martial Arts (MMA) fighter, making his debut in the boxing ring, fell to the canvas and then tried to put Paul into submission with a guillotine.

While acceptable in the octagon, it’s against the rules in boxing. Paul responded with a quick succession of blows that hit his opponent’s face until the referee stepped in and broke them up.

At the same time, both corners exploded. Trainers and security crew came out of everywhere and started their own melee in the ring. The judges disqualified Danis and handed the victory to Paul.

Danis was almost certainly going to lose anyway. Paul had dominated every round up to that point and was closing in for the kill shot. He could have landed a blow to Danis that would have resulted in a TKO or KO if it weren’t for his opponent’s loss of cognitive functions.

What’s next for the MMA fighter is clear and perhaps more his speed. He tweeted on X Sunday morning, “UFC next.”

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Stake.com-Backed Kick to Spend at Least $200M Attracting New Creators https://www.portalapp.net/news/stake-com-backed-kick-to-spend-at-least-200-million-attracting-new-creators/ https://www.portalapp.net/news/stake-com-backed-kick-to-spend-at-least-200-million-attracting-new-creators/#respond Fri, 28 Jul 2023 12:50:51 +0000 https://www.portalapp.net/news/?p=282906 The streaming platform wars may be heating up in a big way. A recent tweet by Kick cofounder Ed Craven suggests the Twitch rival will spend hundreds of millions of dollars to dethrone its rival. The ties Kick and Craven share with online gaming platform Stake.com will help. After signing million-dollar deals with streamers like […]

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The streaming platform wars may be heating up in a big way. A recent tweet by Kick cofounder Ed Craven suggests the Twitch rival will spend hundreds of millions of dollars to dethrone its rival. The ties Kick and Craven share with online gaming platform Stake.com will help.

Former Twitch content creator xQc in a public appearance
Former Twitch content creator xQc in a public appearance. He signed a $100M deal to move to Kick, and similar deals are reportedly in the works. (Image: Getty Images)

After signing million-dollar deals with streamers like xQc and Amouranth, it seems that Kick plans to continue opening its wallet. This is something the site’s cofounder himself has revealed through Twitter, before it became X, where he assures that “the best days of streaming are yet to come.”

Craven apparently has big plans in the works to onboard more streaming talent at almost any cost. In the face of increasing global regulations, a tempered approach is advised.

A New Streaming Crown

Craven has been optimistic about Kick and its ability to knock Twitch, hamster races and all, off its pedestal. However, some users don’t believe that things are going to turn out so well for the site.

One, despite not being asked for his opinion, recently asserted that it was a mistake to sign xQc on a multimillion-dollar deal, because he posted much more content on Twitch. To this, Craven, whose Stake.com is looking at purchasing Rush Street Interactive, hinted at big changes coming to the platform.

He revealed that Kick plans to sign contracts of $1 million with 100 people. In addition, it has earmarked another $100K each for 1,000 more contracts.

Kick remains focused on attracting as many creators as possible. For this reason, it has reiterated that it wants to offer fair payments to all streamers who make an effort to create content on the platform.

The strategy could be working, as the numbers continue to increase. Streamscharts.com data shows that the average number of viewers for the week of February 16-23 was 39,558. The average for June 29 to July 6 was 134,654, but has dipped slightly. It’s now at about 112,649.

It is also likely that Kick will sign celebrities who haven’t yet ventured into streaming or content creation. One of these is NBA great Shaquille O’Neal, who revealed on a Squadcast podcast a few days ago that he wanted to be part of Kick if it paid him enough.

The MVP and Hall of Famer known as Shaq said, “They pay him $50 million just to play video games? �� [xQc} is in trouble because I’m about to come after him. So, he just turns the camera on, and people just watch him? �� I might have to look into that.”

Off to the Races With Alfa Romeo

The Formula 1 Belgian Grand Prix, weather permitting, is coming this weekend. It could give Kick another boost in attention. The neon green logo of the platform is already associated with Alfa Romeo’s eSports teams through a partnership, and it’s now time for the logo to feature at the vehicle manufacturer’s presence in Belgium.

Kick will appear on customized livery for the racing team, according to a press release. It will be found on uniforms, as well as the cars.

Of course, all of Kick’s momentum can be brought to a halt with a single act, including a kick. Social media livened up recently when a video emerged of Kick streamer Suspendas. In it, he allegedly kicked a cat that jumped onto his bed while he was trying to sleep.

That video has been taken down from Kick, but there are others that are exactly why legislators are stepping in to control streaming platforms. For example, Suspendas allegedly tried to hook up with an underage girl in Nepal in a stream that was posted on the platform. He was later arrested in connection with that effort.

He also allegedly had sex while broadcasting a livestream. Making this incident worse, according to comments in the thread that followed, a minor was in the room at the time.

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Hard Rock Debuts Messi Sandwich at its Restaurants and Casinos https://www.portalapp.net/news/hard-rock-debuts-messi-sandwich-at-its-restaurants-and-casinos/ https://www.portalapp.net/news/hard-rock-debuts-messi-sandwich-at-its-restaurants-and-casinos/#comments Thu, 13 Jul 2023 11:36:58 +0000 https://www.portalapp.net/news/?p=280998 Lionel Messi’s arrival in Major League Soccer (MLS) with Inter Miami is already beginning to bear commercial fruit off the field. The Argentine soccer phenom has formed an alliance with Hard Rock Caf�� to introduce his own sandwich at its restaurants and select Hard Rock International casinos. Since it was announced the World Cup champion […]

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Lionel Messi’s arrival in Major League Soccer (MLS) with Inter Miami is already beginning to bear commercial fruit off the field. The Argentine soccer phenom has formed an alliance with Hard Rock Caf�� to introduce his own sandwich at its restaurants and select Hard Rock International casinos.

Leo Messi in a chef's uniform at a Hard Rock Caf¨¦
Leo Messi in a chef’s uniform at a Hard Rock Caf��. He has launched his own branded sandwich at the restaurants, as well as at Hard Rock International casinos. (Image: Hard Rock International)

Since it was announced the World Cup champion would play for Inter Miami, the entire city has turned upside down to prepare for his arrival. Two murals with Messi’s face were painted in the famous Wynwood neighborhood. One is by local artist Arlex Campos and the other by Argentine Maximiliano Bagnasco. Guiding them both was Inter Miami coowner and retired soccer star David Beckham.

This fever for Messi has reached the menus of local restaurants, as dishes have been added in tribute to him. However, it’s the striker himself who is leaving his mark on the culinary scene.

Take a Bite of Messi

Entitled “Made For You by Leo Messi,” the dish seeks to highlight one of the most classic and popular cuisines in Argentina. It’s a sandwich made with a Milanese-style (breaded and fried) chicken breast, melted provolone cheese herb aioli, tomatoes, and arugula, all nestled between two slices of toasted artisan bread.

The “Messi Chicken Sandwich” is now reportedly available at Hard Rock restaurants. This means that diners in Miami, Barcelona, or at any of Hard Rock’s other locations around the world, can experience the dish that makes Messi happy.

Inspiration for the dish, according to a Hard Rock statement, comes from Messi’s love for all things Milanese. The culinary style has its roots in Italy, but is reportedly a go-to favorite of Argentine diners.

The sandwich partnership is a first for Messi. But the seven-time Ballon d’Or winner has an established history with Hard Rock. He’s been a brand ambassador for the company for the past two years.

The unveiling of the sandwich by Hard Rock and Messi comes thanks to the “Greatness Happens Here” marketing campaign. The latest chapter is part of a plan to show the world that Messi is just as skilled at using his hands as he is with his feet.

In a spot that ultimately leads to the presentation of the sandwich, diners in a Hard Rock restaurant are stunned to see Messi’s presence. He’s not in his typical soccer uniform, but instead, dons a traditional chef’s uniform as he heads to the kitchen.

There, he goes from Messi the soccer GOAT to Messi, the head chef. He uses his magic to warm up the kitchen as he leads his staff toward the ultimate creation. At the end of the ad, the Made For You by Leo Messi sandwich makes its debut.

New Home in Florida

The launch of this sandwich comes on the heels of Messi’s arrival in Fort Lauderdale, Fla. Traveling with his wife and children, this marks the start of his journey in MLS with Inter Miami.

In order to celebrate the signing, the club is reportedly preparing a huge event on July 16 at the DRV PNK Stadium in Ft. Lauderdale. Also expected to be present at the event is Spanish soccer star Sergio Busquets, another new Inter arrival.

The on-field debut of Messi and Busquets with Inter Miami will likely be on July 21. The squad will take on Mexico’s Cruz Azul in the Leagues Cup. Unsurprisingly, sportsbooks are giving Inter Miami the win.

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Blaze Frontman and Soccer Standout Neymar Creates ‘Environmental Catastrophe’ https://www.portalapp.net/news/blaze-frontman-and-soccer-standout-neymar-creates-environmental-catastrophe/ https://www.portalapp.net/news/blaze-frontman-and-soccer-standout-neymar-creates-environmental-catastrophe/#respond Wed, 05 Jul 2023 08:47:03 +0000 https://www.portalapp.net/news/?p=280040 Neymar, the Brazilian soccer superstar and ambassador to online sportsbook Blaze, is in hot water for jumping into the water. As he might be preparing to leave French Ligue 1 club Paris Saint-Germain (PSG), Neymar is the center of a new legal mess in his home country for creating an environmental catastrophe that he calls […]

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Neymar, the Brazilian soccer superstar and ambassador to online sportsbook Blaze, is in hot water for jumping into the water. As he might be preparing to leave French Ligue 1 club Paris Saint-Germain (PSG), Neymar is the center of a new legal mess in his home country for creating an environmental catastrophe that he calls an artificial lake.

Soccer player Neymar acting up on the field during the FIFA World Cup Qatar 2022 games.
Soccer player Neymar acting up on the field during the FIFA World Cup Qatar 2022 games. The Blaze frontman faces a fine of $3.3 million for causing environmental damage in his home country. (Image: Getty Images)

The Associated Press reports that Neymar must pay BRL16 million (roughly $3.3 million) after a Brazilian court sanctioned him for failing to comply with current environmental regulations. It’s the result of the construction of an artificial lake and a beach on his property in the town of Mangaratiba.

Neymar can appeal the decision if he wants, but the long list of violations would make it difficult. His reaction when confronted by the authorities would seem to indicate he doesn’t intend on responding.

Careless Disregard

The intervention of the Ministry of Environment was the result of unidentified neighbors who live close to Neymar’s home. Seeing that trucks of stones, sand, palm trees, and even an excavator were arriving outside the palatial home, they allegedly contacted the authorities and told them that something illegal was taking place inside.

Neymar’s mansion is in the middle of a panoramic landscape in Mangaratiba, about 78 miles west of Rio de Janeiro. Its front view is the South Atlantic Ocean and its back view is complete with rolling green hills and mountains.

The Ministry of Environment pointed out that Neymar committed dozens of environmental violations during construction. Among them are ��carrying out work without authorization, collection and diversion of river water without authorization, and removal of land and removal of vegetation without authorization.��

The company that helped build the artificial lake, Genesis Ecosistemas, shared the work on social media. There, it pointed out that the illegal body of water covers 1,000 square meters (10,763 square feet).

Neymar also faces a charge of contempt. The authorities reportedly told him not to swim in the artificial lake when they paid him a visit last Friday. He ignored them and immediately jumped in.

The local council of Mangaratiba could hit Neymar with additional fines. It has said that it is still reviewing the incident to determine what additional charges may apply.

Neymar Back to Spain

It appears as though PSG is willing to give up its controversial star. The latest information coming out of FC Barcelona is that the two clubs have agreed to a transfer deal.

There’s nothing final yet �C PSG said just over a week ago that it wasn’t willing to give up Neymar because Barcelona was going to ask for too much money. However, Fox Sports Mexico reports that it has become more amenable to the idea.

Neymar is now 31 years old and the average age at which players retire is 35. Amid his partying and nonstop antics off the field, he may be on the edge.

A return to Barcelona would likely cause mixed emotions. Neymar went from Brazilian club Santos to the Spanish club in 2013, which led to a Champions League title and a multimillion-dollar lawsuit.

The title came in 2015, two years before Neymar left for PSG. DIS, a Brazilian sports investment company, held 40% of the “rights” to Neymar at the time. It accused Neymar, his family, Barcelona, and others of manipulating a deal that saw its percentage of the transfer price reduced.

A lawsuit ensued in Spain, with DIS pushing for Neymar to spend time behind bars. Last October, as Brazil was getting ready for the World Cup, a judge tossed the lawsuit.

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Fanatics Founder Rubin Splurges on $50 Million Hamptons Mansion https://www.portalapp.net/news/fanatics-founder-michael-rubin-paid-50m-for-hamptons-home/ https://www.portalapp.net/news/fanatics-founder-michael-rubin-paid-50m-for-hamptons-home/#respond Tue, 04 Jul 2023 23:08:07 +0000 https://www.portalapp.net/news/?p=280028 Fanatics founder Michael Rubin is adding to his portfolio of luxury real estate, having recently acquired a Hamptons mansion for $50 million. Located on East Long Island, the Hamptons has long been the premier summer destination for wealthy New Yorkers and celebrities. Rubin purchased the mansion from HFZ Capital Group��s Ziel Feldman. It last sold […]

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Fanatics founder Michael Rubin is adding to his portfolio of luxury real estate, having recently acquired a Hamptons mansion for $50 million.

Michael Rubin
Fanatics founder Michael Rubin’s Hamptons house. He paid $50 million for it. (Image: Jewish Business News)

Located on East Long Island, the Hamptons has long been the premier summer destination for wealthy New Yorkers and celebrities. Rubin purchased the mansion from HFZ Capital Group��s Ziel Feldman. It last sold in 2000 for $4.35 million, according to the New York Post. Feldman made significant alterations to the structure, making it an 8,000-square-foot-house with seven bedrooms and four bathrooms.

The Hampton��s house isn��t Rubin��s first dalliance with high-end New York real estate. In 2018, he shelled out $40 million-plus for a downtown Manhattan penthouse, then a record price for that particular neighborhood.

Rubin��s Hamptons house is located close to properties owned by Beyonce and Jay-Z, Ben Affleck and Jennifer Lopez and New England Patriots owner Bob Kraft.

Rubin, 50, was born outside of Philadelphia. Fanatics is based in Florida. His net worth is estimated to be $3.5 billion.

Rubin Putting Hamptons Mansion to Good Use

Rubin broke in his new Hamptons digs in style, hosting a Fourth of July ��White Party�� that drew a who��s who of athletes and celebrities.

Attendees to the 11-hour bash included Jay-Z, Beyonc��, retired NFL legend and Las Vegas Raiders minority owner Tom Brady, French soccer star Kylian Mbapp��, a slew of NBA players and Leonardo Di Caprio.

Rubin previously held minority stakes in the NBA��s Philadelphia 76ers and the NHL��s New Jersey Devils , but he sold those interests last year to avoid potential conflicts of interest as he readied Fanatics to make a more earnest move into the world of regulated sports wagering. He reportedly reaped a $300 million windfall from divesting his 10% holdings in those teams.

Fanatics is valued at $31 billion in private markets. Like Rubin��s parties, Fanatics�� investor list is full of well-known names.

The company counts the four major US sports leagues �� Major League Baseball (MLB), the NBA, NFL, and the NHL �� as well as Major League Soccer (MLS) among its investors. Other investors include Silver Lake, SoftBank, BlackRock, Fidelity, and MSD Partners �� an investment vehicle controlled by Dell founder Michael Dell.

Rubin Relaxing After Busy June for Fanatics

Perhaps the White Party at the Hamptons mansion was Rubin��s way of blowing off some steam with famous friends following an active June for Fanatics.

His company ultimately emerged victorious for PointsBet��s (OTC: PBTHF) US operations, but only after it upped its bid to $225 million in cash.

The suitor was forced to do that after rival DraftKings (NASDAQ: DKNG) entered the fray with a $195 million offer that far exceeded Fanatics�� initial proposal.

There was speculation that due to long-running bad blood between Rubin and DraftKings co-founder and CEO Jason Robins, the latter got involved in the PointsBet US sale process simply to be a pain to Fanatics.

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Brazilian Soccer Star Ronaldinho Launches iGaming Platform https://www.portalapp.net/news/brazilian-soccer-star-ronaldinho-launches-his-own-igaming-platform/ https://www.portalapp.net/news/brazilian-soccer-star-ronaldinho-launches-his-own-igaming-platform/#respond Tue, 27 Jun 2023 08:15:43 +0000 https://www.portalapp.net/news/?p=279159 For the past couple of years, fans of Ronaldinho Ga��cho have been able to interact with him through his app for Android and iOS. They now have a new way, as the Brazilian soccer star now has his own branded sports betting and online casino platform. The 43-year-old retired player, who spent time with Paris […]

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For the past couple of years, fans of Ronaldinho Ga��cho have been able to interact with him through his app for Android and iOS. They now have a new way, as the Brazilian soccer star now has his own branded sports betting and online casino platform.

Retired soccer star Ronaldinho when he still played for Barcelona FC
Retired soccer star Ronaldinho when he still played for Barcelona FC. He now has his own iGaming platform, Bruxo10.bet. (Image: Getty Images)

The 43-year-old retired player, who spent time with Paris St. Germain, Barcelona FC, and a host of other teams, is a five-time world champion. He has 73.6M followers on Instagram and 20.2M on Twitter.

That kind of exposure gives him a sizeable launchpad from which Ronaldinho introduced Bruxo10.bet to his followers and the rest of the world last week. The name comes from the nickname he had during his soccer career.

Tapping into Sports Success

Bruxo10.bet operates with sports betting in all of the main sports leagues, tournaments, and championships. It also provides an online casino and live casino of major players in the global market, including Caleta, Play’n GO, Pragmatic Play, Vibra Gaming, and more.

https://twitter.com/10Ronaldinho/status/1671897578592411649

“It’s time to open the Witch House for you! Bruxo10Bet, the bookmaker specializing in Witchcraft, has arrived. Do you have your predictions up to date!? Come have fun with us,” said Ronaldinho.

The launch event was grandiose and featured several sports for guests, broadcast on the former athlete’s official channels and SporTV. One of the most memorable moments was the “Wizard10 Footvolley Challenge,” which showed that the Ballon d’Or winner hasn’t lost his touch with the soccer ball.

Although Bruxo10.Bet is officially established outside Brazil, it’s obvious that one of the goals is to target that country’s bettors. On Bruxo10.bet’s sports betting tab, for example, the country was in the lead with games from the four series of the Brasileir?o, in addition to the female version of the competition and state championships.

In addition, the platform advertises Pix as a form of payment. Pix is a near-instant payment method the Banco Central do Brasil created, available to everyone in the country. Bruxo10.Bet also repeatedly references the real, the Brazilian currency, in its policies regarding deposits and withdrawals.

Ronaldinho has been an ambassador for gaming operator Betcris for the past few years. As such, it’s unclear if his new platform will lead to a breakup.

Banking on Branding

Despite being named after Ronaldinho, the gaming platform really belongs to Digital Ventures NV, registered in Cura?ao. The relatively obscure company doesn’t have much of a digital presence, other than the promotion of another gaming platform, Bitcarra.com.

It seems as though the company planned Bitcarra to be an innovative iGaming platform with a strong link to cryptocurrencies. As of last September, Bitcarra was promoting itself heavily, only to report in October that the platform was “coming soon.” Since then, there’s been nothing.

Cura?ao has been working on updating its gambling laws and is apparently now making progress. Despite facing obstacles and accusations of money laundering from Brazilian authorities, a new gambling framework is about to be launched.

Last week, while speaking at the iGaming Next conference in Malta, Minister of Finance Javier Silvania stated that changes are coming. He explained that Cura?ao’s Gaming Regulatory Commission will be in a position to begin approving new licenses as of this September.

Silvania clarified that the implementation of the new law regarding licenses won’t pose any difficulties for operators holding current licenses. At the same time, he also emphasized that there will be thorough scrutiny with regard to anti-money laundering (AML), fraud prevention, and safeguarding of players during the shift to the new administration.

Therefore, the increased focus on AML procedures could definitely pose difficulties for certain Cura?ao-based operators.

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Soccer Pro and Gambling Fan Neymar, Jr. Announces Inaugural Party Cruise https://www.portalapp.net/news/soccer-pro-and-gambling-fan-neymar-jr-announces-inaugural-party-cruise/ https://www.portalapp.net/news/soccer-pro-and-gambling-fan-neymar-jr-announces-inaugural-party-cruise/#respond Thu, 01 Jun 2023 11:50:34 +0000 https://www.portalapp.net/news/?p=275590 Brazilian soccer star Neymar da Silva Santos J��nior, who soccer fans know as Neymar, Jr., has had a rough go of the game lately, suffering from injuries that have kept him on the sidelines. This has given him plenty of time to come up with new ideas, one of which is a Neymar-branded cruise on […]

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Brazilian soccer star Neymar da Silva Santos J��nior, who soccer fans know as Neymar, Jr., has had a rough go of the game lately, suffering from injuries that have kept him on the sidelines. This has given him plenty of time to come up with new ideas, one of which is a Neymar-branded cruise on the high seas.

Soccer player Neymar acting up on the field
Soccer player Neymar acting up on the field. He has created an eponymous cruise for December. (Image: Getty Images)

Exhibiting something new off the soccer field, Neymar is taking to the waters to recuperate from a string of injuries. The Paris Saint-Germain (PSG) player has announced the ��Ney At Sea�� cruise.

This much-awaited trip is slated for December 26 to 29, and will tour the Atlantic Ocean. It will depart the Brazilian city of Santos before hanging out in the ocean and heading to B��zios, a beach town popular with tourists.

Anchors Aweigh with Ney

The journey from Santos to B��zios takes 72 hours on MSC Preziosa, the deep-sea vessel owned by MSC Cruises. The ship features 1,700 cabins, three outdoor pools, and an indoor pool. Passengers can also enjoy other amenities, such as its eight restaurants and, of course, a casino.

https://twitter.com/neymarjr/status/1663551345335623684

Neymar asserts in an announcement that the cruise will offer a distinctive encounter, with three days and nights of thrilling and amusing visits, appealing to all ages. He boasted, ��Get ready for 72 hours of fun on the high seas. Only those who are in the mood to play are invited!��

Less than two days have gone by since Neymar presented the project, and the Ney at Sea cheap tickets have already sold out. These tickets come in three varieties, based on the type of room they offer, with options ranging from rooms with windows to those with balconies.

The adventure packages are priced between $850 to $1,300. But there are additional charges for utilizing the sauna, bowling alley, 4D theater, Formula 1 simulator, and buying drinks at the bar. Hitting the slots or gaming tables in the casino will also mean additional expenses.

Neymar Might Not Appear

It��s likely that many of people buying tickets expect to be able to take a selfie or at least share the same salty air with Neymar. However, he may not even be on board the cruise. His participation in the cruise remains questionable.

The chosen dates for the cruise are in the middle of the soccer calendar of certain countries, including the UK. There have been rumors that Neymar may leave PSG this summer, which further complicates the situation.

The 31-year-old Olympic gold medalist recently disappeared from the sidelines as his teammates were fighting to secure PSG��s spot at the top of France��s Ligue 1 soccer league. That was a definite hint that he��s not completely thrilled with the idea of continuing in the PSG uniform.

Instead, Neymar has made it clear that he wants to relocate, and there��s only one team that has piqued his interest. It��s Manchester United or bust for the soccer phenom.

If he can��t get to Man U this summer, Neymar has said he��ll stay with PSG, where his contract doesn��t expire until 2025. However, if his recent appearance at the Monaco Grand Prix is any indication, he��s likely to spend more time away from the team than with it.

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Soccer Star Neymar Prefers Casinos Over Title Celebrations, Skips On Team https://www.portalapp.net/news/psg-soccer-star-neymar-prefers-casinos-over-title-celebrations-skips-out-on-team/ https://www.portalapp.net/news/psg-soccer-star-neymar-prefers-casinos-over-title-celebrations-skips-out-on-team/#respond Mon, 29 May 2023 12:01:32 +0000 https://www.portalapp.net/news/?p=275154 Paris Saint Germaine (PSG) just won France’s Ligue 1 soccer title, thanks in no small part to having three of the best players �C Neymar, Leo Messi, and Kylian Mbapp�� �C on the team. Instead of taking a trip with the team to fight for the championship because he was reportedly too injured, Neymar took […]

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Paris Saint Germaine (PSG) just won France’s Ligue 1 soccer title, thanks in no small part to having three of the best players �C Neymar, Leo Messi, and Kylian Mbapp�� �C on the team. Instead of taking a trip with the team to fight for the championship because he was reportedly too injured, Neymar took trips to a casino and the F1 Monaco Grand Prix.

PSG soccer player Neymar (right) takes a photo with actor Tom Holland at the Monaco Grand Prix
PSG soccer player Neymar (right) takes a photo with actor Tom Holland at the Monaco Grand Prix. He skipped a title celebration with his team to visit a casino and the race. (Image: Getty Images)

Still injured, Neymar has once again been the center of attention in the PSG club. French media have reported that the Brazilian soccer star didn’t travel to Strasbourg, France, with PSG for a title match in which it emerged victorious for the 11th time in the French league.

However, Neymar was seen this weekend at multiple events outside of soccer. On Saturday, he was at a poker tournament in Monaco. Similarly, the Brazilian figure uploaded a story to his Instagram channel in which he was playing roulette in an online casino.

It doesn’t end there. On Sunday, Neymar was at the Monaco Grand Prix, where in addition to watching the race, he could be seen taking photos with Maria Sharapova, Tom Holland, and others.

End Of The Line

PSG met rival soccer team RC Strasbourg Alsace on Saturday, picking up the one point it needed to take home the Ligue 1 title. After an underwhelming first-half performance, the team found success 15 minutes into the second period. The game ended in a 1-1 draw, but it was enough.

Mbapp�� launched a pass to Messi, who found the back of the net. Strasbourg couldn’t find any way to dismantle PSG for the rest of the match.

The win was possible without Neymar, though, who was too busy living it up elsewhere. Team manager Christophe Galtier told reporters that the 31-year-old couldn’t suit up because of his injuries. Instead of sticking around to support his team, he dashed off for Monaco.

Everything would indicate that Neymar’s next season will be away from France, although it isn’t clear where he may go. At the moment, the firmest clue is the Premier League – Manchester United or Chelsea reportedly are the most interested in taking Neymar and dealing with his controversies. They’re also likely the only ones with the economic capacity to be able to afford the expense.

A House Divided

Neymar’s early exit is just part of what appears to be the end of PSG’s reign. After taking a quick celebratory lap following the title win, Messi left for Barcelona, Spain, missing a larger team celebration and an important awards ceremony.

Messi was instrumental in helping PSG attain the title by contributing 16 goals and 16 assists this season. However, his contract has just reached its expiration date, and there doesn’t appear to be negotiations about a possible renewal.

As perhaps a strong hint that changes are coming, Messi didn’t attend the National Union of Professional Football Players awards gala for his nomination as the Best Player of the Year. The awards ceremony is organized by the Professional Players Union of France.

Mbapp�� won the award, and while he was giving his acceptance speech, Messi was nowhere to be found. Instead, he and his wife Antonela Roccuzzo were already in Barcelona, where, among other things, they took in a Coldplay concert.

It now looks as though PSG may be without Messi and Neymar next season, which means the team will likely enter a low period. There had also been a rumor that Mbapp�� might leave. However, he rejected the claim over the weekend.

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Ivan Toney: Banned EPL Star Bet on His Own Games, FA Says https://www.portalapp.net/news/ivan-toney-banned-epl-star-bet-on-his-own-games-fa-says/ https://www.portalapp.net/news/ivan-toney-banned-epl-star-bet-on-his-own-games-fa-says/#respond Sat, 27 May 2023 22:13:17 +0000 https://www.portalapp.net/news/?p=275131 Brentford FC and England striker Ivan Toney wagered on games he was involved in, according to the findings of a Football Association (FA) regulatory commission, published Friday. Last week, Toney, 26, was banned from professional soccer for eight months after admitting to 232 breaches of FA betting rules, a penalty that many viewed as harsh. […]

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Brentford FC and England striker Ivan Toney wagered on games he was involved in, according to the findings of a Football Association (FA) regulatory commission, published Friday.

Ivan Toney, Brentford, gambling, FA
Ivan Toney, above, wears a gambling logo on his jersey every time he takes the field for Brentford. But the player has been diagnosed with a gambling addiction, prompting calls for a review into elite soccer��s financial relationship with the gambling industry. (Getty)

Last week, Toney, 26, was banned from professional soccer for eight months after admitting to 232 breaches of FA betting rules, a penalty that many viewed as harsh. However, the charges were not previously thought to have related to games in which the player was personally involved.

In fact, Toney might consider himself lucky. Under FA rules, betting on your own games can result in a life ban from soccer.

No Match-Fixing

The commission found that Toney placed 26 bets that related to the club he was registered with at the time. This included 13 occasions when he backed his own team to lose, although he was not directly involved in these matches.

Of the matches he did play in, he always backed his team to win (16 occasions). On 15 occasions, he also bet on himself to score at a time when it was not public knowledge that he would be playing in a game, which constituted insider betting. However, the commission found no evidence of match-fixing.

There is no evidence that Mr Toney did or was even in a position to influence his own team to lose when he placed bets against them winning — he was not in the squad or eligible to play at the time,” it concluded.

But the commission found that Toney lied about the extent of his betting and used third parties to gamble on his behalf, according to the commission.

However, it reduced his sanction from 14 to 11 months. That��s because Toney has been diagnosed with a gambling problem and had sought professional help.

Brentford Backing Toney

Brentford said it would “do everything possible” to support Toney with his addiction. The team��s manager, Thomas Frank, said in a statement that soccer��s financial relationship with gambling needs to be reviewed. Frank also criticized the decision to ban Toney from training with the squad until September.

“We got a massive reminder [on gambling],�� he said. ��Do we do enough to educate our players? The authorities have a massive task to make sure we do this much better.

“If I can’t speak to him, I guess they will have to ban me as well. If I am not allowed to support him there must be something wrong,” Frank added.

The EPL has voted to ban gambling logos on the front of jerseys from the end of the 2025/26 season. Gambling advertising will still be prevalent elsewhere, including on stadium hoardings.

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David Portnoy��s Future with Bartsool, Penn Entertainment in Limbo https://www.portalapp.net/news/portnoy-future-with-penn-entertainment-not-guaranteed/ https://www.portalapp.net/news/portnoy-future-with-penn-entertainment-not-guaranteed/#respond Thu, 25 May 2023 19:29:07 +0000 https://www.portalapp.net/news/?p=274956 David Portnoy is the face of Barstool Sports, the sports and entertainment media company he founded two decades ago. He��s not certain for how long that status will continue. Portnoy’s contract with Penn Entertainment (NASDAQ: PENN) is up in 20 months, and there are no guarantees the two sides will reach an extension. In February, […]

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David Portnoy is the face of Barstool Sports, the sports and entertainment media company he founded two decades ago. He��s not certain for how long that status will continue.

Penn Barstool
Barstool Sports founder David Portnoy, seen during an interview, above. His future with Penn Entertainment is up in the air. (Image: Politico)

Portnoy’s contract with Penn Entertainment (NASDAQ: PENN) is up in 20 months, and there are no guarantees the two sides will reach an extension. In February, Penn paid $388 million for the 64% of Barstool Sports it didn��t previously own, bringing the total acquisition price for Portnoy��s company to $551 million. In an interview on ��The Kirk Minihane Show�� earlier this week, Portnoy was ambiguous regarding his future with Penn.

There��s been some talk about it. Like you said [previously], who knows what they��re thinking at this point,�� he told Minihane.

That interview occurred about two weeks after Portnoy took to Twitter to tell followers he added to his already large position in Penn stock. That tweet provided a temporary boost to the slumping shares. In a subsequent tweet, Portnoy asked his followers whether he should remain at Penn and show signs of overt support for the gaming company.

Portnoy/Penn Union Has Been Bumpy

Penn took its initial stake in Barstool Sports in 2020, hoping to leverage the brash, upstart media entity to build its online sportsbook and lure a younger, hipper clientele to its regional casinos.

While there are indications the deal paid dividends on the latter front, Barstool Sportsbook remains a bit player on the regulated sports wagering scene in the US. Additionally, the Portnoy/Penn marriage hasn��t always been harmonious. That much was on display when Barstool, at the behest of Penn, fired Poker player Ben ��Mintzy�� Mintz earlier this month for using a racial slur while reciting a rap song on air.

Portnoy and Barstool Sports CEO Erika Nardini openly disagreed with the decision. There have also been allegations of sexual misconduct against Portnoy, though he��s never faced charges in a criminal court. He��s also rankled some with his views on various issues of the day, including the Supreme Court��s 2022 decision to send abortion rights back to the states and, more recently, the collapse of Silicon Valley Bank.

Add it all up, and some analysts speculate that Penn could eventually sell or spin off Barstool Sports, and there��s speculation the pool of potential buyers would be larger if Portnoy was out of the picture. Conversely, there are analysts covering Penn who don��t�� view Portnoy as problematic.

Portnoy��s Post-Barstool Options

Should he ultimately leave Barstool Sports and Penn, Portnoy has plenty of options. In the interview with Minihane, he toyed with the idea of a podcast or spending some time out of the limelight.

He also mentioned the possibility of producing longer-form content, perhaps leveraging his famous pizza tastings into Anthony Bourdain-esque content.

��Like a pizza show on Netflix where you��re doing like 15 minutes a spot �� I like doing it. It excites me. I think it��d be wildly successful �� like [Anthony] Bourdain of what I��m doing,�� Portnoy told Minihane.

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Wynn Forecasts up to $600M in EBITDA from UAE Casino Hotel https://www.portalapp.net/news/wynn-says-uae-casino-resort-could-generate-600m-in-ebitda/ https://www.portalapp.net/news/wynn-says-uae-casino-resort-could-generate-600m-in-ebitda/#respond Wed, 10 May 2023 16:25:27 +0000 https://www.portalapp.net/news/?p=272850 Wynn Resorts (NASDAQ: WYNN) forecast its upcoming integrated resort in the United Arab Emirates, Wynn Al Marjan Island, can generate up to $600 million in earnings before interest, taxes, depreciation, and amortization (EBITDA). Wynn CEO Craig Billings commented on a Tuesday conference call with analysts following the release of the operator��s first-quarter financial results. We […]

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Wynn Resorts (NASDAQ: WYNN) forecast its upcoming integrated resort in the United Arab Emirates, Wynn Al Marjan Island, can generate up to $600 million in earnings before interest, taxes, depreciation, and amortization (EBITDA).

Al-Marjan Island
Al-Marjan Island in the UAE, seen in an aerial view above. Wynn’s upcoming casino hotel there could generate EBITDA of up to $600 million. (Image: Arabian Business)

Wynn CEO Craig Billings commented on a Tuesday conference call with analysts following the release of the operator��s first-quarter financial results.

We think the resort will generate between $450 million and $600 million of steady-state EBITDA. The combination of our 40% equity ownership in the project along with our management and license fees will drive a very healthy return on investment (ROI) for Wynn Resorts shareholders,�� said Billings on the call.

The project’s estimated cost, which is expected to be the first gaming venue in the region, is $4 billion, with a targeted opening date of early 2027. Wynn��s minority interest in the venture reduces its financial exposure, meaning it��s not on the hook for the entire $4 billion. The property on Al-Marjan Island is being developed with local partners Marjan LLC and RAK Hospitality Holding LLC.

Wynn UAE: More Las Vegas, Less Macau

Likely owing to the fact that casino gaming hasn��t officially been approved in UAE, gaming space won’t be the centerpiece of Wynn Al Marjan Island.

It��s estimated the casino there will command just 4% of the property��s 5.6 million square feet. That��s larger than the gaming area at Wynn Las Vegas, but also implies the UAE property will be less gaming-focused than Wynn��s Macau venues or Encore Boston Harbor.

��We think that this business is much more akin to our Las Vegas business than it is, say, Macau or Boston, which are primarily gaming-centric markets,�� said Billings in response to a question from Wells Fargo analyst Daniel Politzer. ��So we think that this will be a healthy balance of gaming, non-gaming and that that will allow us to provide a very full and high-quality experience and generate very healthy returns.��

Wynn likely doesn��t need gaming to be in the spotlight at the UAE property. Dubai, which is located just an hour away from Al Marjan Island, is one of the most visited parts of the Middle East, and the tourists that flock to the emirate embrace high-end dining options, luxury retail, and other glitzy amenities, all of which are synonymous with Wynn��s Las Vegas properties.

Wynn Divided Examination, New York Update

Wynn pleasantly surprised investors with the resumption of its quarterly dividend, suspended for nearly three years due to the coronavirus pandemic.

Billings told analysts that the company is generating solid cash flow in the US and Macau and retaining capital for a New York City integrated resort bid ��to the extent that that advances.�� He added that the company��s 25 cents per share quarterly payout is a solid starting point and that future increases are possible. Stifel analyst Steven Wieczynski observed the dividend resumption is a positive signal to Wynn investors.

We believe this is an excellent signal to investors that moving forward, their cash flow generation should be overly sufficient to meet and exceed future capital commitments,�� he wrote in a note to clients. ��While WYNN shares have had a nice move off the bottom, we still believe there is more to come as this has turned into a pure momentum stock. Valuation remains reasonable with shares trading around 9x forward EBITDA, which is a discount to historical multiples.”

Wieczynski reiterated a ��buy�� rating on Wynn while lifting his price target to $137 from $127.

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Portnoy Pushes Penn Stock Higher with Tweet Revealing Share Purchase https://www.portalapp.net/news/portnoy-tweet-propels-penn-stock-higher-on-tuesday/ https://www.portalapp.net/news/portnoy-tweet-propels-penn-stock-higher-on-tuesday/#respond Tue, 09 May 2023 20:32:41 +0000 https://www.portalapp.net/news/?p=272736 Scuffling Penn Entertainment (NASDAQ: PENN) notched a late-session rally Tuesday. That’s after Barstool Sports founder David Portnoy took to Twitter to reveal he purchased a significant amount of shares in the regional casino operator on Monday. In what appears to be a response to an ��internet troll,�� Portnoy said he purchased ��2 million�� in Penn […]

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Scuffling Penn Entertainment (NASDAQ: PENN) notched a late-session rally Tuesday. That’s after Barstool Sports founder David Portnoy took to Twitter to reveal he purchased a significant amount of shares in the regional casino operator on Monday.

Penn stock
Barstool Sports founder David Portnoy. His tweet late Tuesday boosted Penn stock. (Image: The Verge)

In what appears to be a response to an ��internet troll,�� Portnoy said he purchased ��2 million�� in Penn stock yesterday. He didn��t clarify if that��s two million shares or $2 million worth of the stock.

Intraday charts indicate Portnoy��s social media post was impactful and created some positive buzz around a stock that slumped 8.9% over the past month, and shed 10.44% year-to-date.

Pivotal Timing for Portnoy Announcement

Portnoy added to his already substantial Penn stake just days after the casino operator forced Barstool Sports to fire poker player Ben ��Mintzy�� Mintz. He was sacked for using a racial slur during a podcast in which he was reciting lyrics to a rap song. In the wake of that event, which coincided with Penn��s tepid first-quarter earnings report, the stock slumped, stoking speculation that the antics of Portnoy and some other Barstool personalities may eventually be too much for Penn to bear.

Recently, there��s been chatter among analysts that Portnoy could leave Penn when his two-year contract expires, or that the regional casino giant could ultimately look to sell Barstool, because media isn��t the parent company��s core competency.

In February, Penn paid $388 million for the 64% of Barstool Sports it didn��t previously own, bringing the total acquisition price for Portnoy��s company to $551 million.

Portnoy has an estimated net worth of $120 million, which likely indicates he purchased $2 million worth of Penn stock on Monday, not two million shares. Had it been the latter, that transaction would��ve carried a price tag of nearly $52 million. Today, the shares closed higher by 1.7% on volume that was more than double the daily average.

Maybe Portnoy Isn��t Leaving Penn

In a subsequent tweet, which included a chart highlighting Penn��s late Tuesday pop, Portnoy questioned his audience. He asked whether people wanted him to say that he��s still a believer in the gaming company and that he intends to remain there for some time.

He added that he��s ��not a stock advisor or financial expert.��

Avid followers of Portnoy, of which there are millions on various social media platforms, know that while he��s not a registered investment advisor, he did gain some notoriety during the early stages of the coronavirus pandemic for actively trading stocks, including shares of Penn rivals. He even coined the mythical investment firm ��Davey Day Trader Global,�� using the hashtag #DDTG on social media. That remains in his Twitter profile today.

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Soccer’s Neymar Reportedly Loses $1M Gambling Online, Goes Ballistic https://www.portalapp.net/news/soccer-phenom-neymar-reportedly-loses-1m-gambling-online-goes-ballistic/ https://www.portalapp.net/news/soccer-phenom-neymar-reportedly-loses-1m-gambling-online-goes-ballistic/#respond Thu, 30 Mar 2023 07:40:25 +0000 https://www.portalapp.net/news/?p=266801 Streaming platform Twitch has tried to separate itself from gambling content in order to appease some of its more lucrative creators. However, a new clip from soccer star Neymar during a recent gambling session he was enjoying until suffering a seven-figure loss shows the platform doesn��t want to stray too far. Neymar, the Paris Saint-Germain […]

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Streaming platform Twitch has tried to separate itself from gambling content in order to appease some of its more lucrative creators. However, a new clip from soccer star Neymar during a recent gambling session he was enjoying until suffering a seven-figure loss shows the platform doesn��t want to stray too far.

Soccer star Neymar holds his ankle following an injury during a game
Soccer star Neymar holds his ankle following an injury during a game. He reportedly lost over $1 million in an online gambling session that he shared on Twitch. (Image: Getty Images)

Neymar, the Paris Saint-Germain (PSG) striker who is off the field for the rest of the season as the result of an operation on his ankle, slid into a new role to fill his downtime. He��s been working as a streamer for online gaming operator Blaze as its ambassador.

His streams, which he often shares live on Twitch, include gaming sessions and other content. In his last broadcast, he bet and lost, allegedly out of his own pocket, a huge amount playing poker, roulette, and other games. Whether the money was his is up for debate. But his reaction could have earned him an Academy Award.

The Oscar Goes To …

Last December, Neymar signed with Blaze as its ambassador on a four-year deal. Since then, he’s started producing more gaming content. But his love affair with gambling was already well-established. He has long been a fan of poker, and has participated in a number of big tournaments and events.

Just like with certain other high-profile celebrities, there��s an unproven theory that these gambling sessions are only a ploy. Gaming operators may provide their media personalities with funds or credit to make it appear that they��re playing with real money. Although many claim that this is the case with Neymar��s latest gambling session, his reaction seems real.

The Brazilian soccer phenom allegedly almost came to tears as his friends mocked him in the stream. They even broke out the theme to Titanic �C an out-of-tune recorded version �C that suggested that Neymar��s ship was sinking.

The former FC Barcelona star and part-time actor (he��s had bit parts in several movies and shows) injured his ankle in February. He underwent surgery on March 10, which went well, according to a PSG statement. But it will keep him sidelined for the rest of the season.

Gambling Debate Rages On

Following backlash from several high-profile Twitch streamers last year, the platform announced that it would change its policies on gambling content. It didn��t want to completely break away from the activity, though, as it has proven to be a guaranteed source of income.

The Amazon-owned platform decided to ban content that promoted sites not regulated by an established gaming regulator and other forms of content. This included Stake and Rollbit, but not Blaze, which offers almost identical gaming options.

F��lix Lengyel, a top content creator better known as xQc, is blasting Twitch for its hypocrisy. He has been one of Twitch��s biggest earners, but has spoken out against its gambling content policies.

xQc, who has also been a frontman for Stake, called out Twitch in his own stream for allowing the Neymar gambling content with no repercussions. He asserted that the platform would ban other content creators for similar streams, but allowed Neymar because of his celebrity status.

There is still a lot of gambling-related content on Twitch in addition to Neymar��s. However, the million-dollar loss he presented will likely fuel new controversy and put its future on Twitch in jeopardy. Fortunately for streamers, there are other alternatives.

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Cantankerous David Portnoy Not Problematic for Penn Entertainment, Says Analyst https://www.portalapp.net/news/david-portnoy-wont-be-problem-for-penn-entertainment/ https://www.portalapp.net/news/david-portnoy-wont-be-problem-for-penn-entertainment/#respond Thu, 16 Mar 2023 19:32:56 +0000 https://www.portalapp.net/news/?p=264745 Barstool Sports founder David Portnoy is no stranger to controversy. Some might say he even embraces and enjoys it. Fortunately for investors, at least one analyst believes that��s not problematic for Penn Entertainment (NASDAQ: PENN). Last month, the regional casino operator completed its acquisition of Barstool, paying $388 million for 64% of the sports and […]

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Barstool Sports founder David Portnoy is no stranger to controversy. Some might say he even embraces and enjoys it. Fortunately for investors, at least one analyst believes that��s not problematic for Penn Entertainment (NASDAQ: PENN).

Penn stock
Barstool Sports founder David Portnoy in one of his famed pizza reviews. An analyst says he’s not a problem for Penn Entertainment. (Image: The Verge)

Last month, the regional casino operator completed its acquisition of Barstool, paying $388 million for 64% of the sports and entertainment media outlet it didn��t previously own. That transaction occurred almost exactly three years after it paid $163 million in cash and stock to purchase a 36% interest in Portnoy��s company.

Portnoy��s association with Penn and the involvement of other well-known Barstool personalities has recently been a thorny issue for regulators in some states, including Massachusetts and New York, where Penn sought sports betting permits. At issue was the employment status of Portnoy and others who dispense sports wagering advice and are believed to place their bets through Penn-owned Barstool Sportsbook.

Management noted that Dave��s and [Dan ��Big Cat�� Katz��s] employment contracts are done through a loan-out company, which removes their requirements to hold a gaming license,�� wrote J.P. Morgan analyst Joseph Greff.

Greff issued those remarks following a meeting with Penn CFO Felicia Hendrix at the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum, held in Las Vegas earlier this week.

Portnoy Has Penchant for Ruffling Feathers

Portnoy has a documented history of irking people of nearly all political persuasions and walks of life.

For example, he interviewed then-President Donald Trump at the White House in July 2020. Combine that with frequent appearances on Fox News, and there was speculation his politics leaned right.

In five months last year, Portnoy praised Elon Musk��s purchase of Twitter, bashed the Supreme Court��s decision to overturn Roe v. Wade, and publicly toyed with the idea of leaving New York to establish residency in Florida, which is far more tax-friendly.

None of that includes allegations of his sexual proclivities, which landed him in hot water in the court of public opinion following a series of articles published by Insider detailing raunchy elements of some of his encounters. He later sued Insider, and, it��s important to note, he did not face criminal charges.

In their chat, Greff and Hendrix didn��t unpack the aforementioned controversies. But the Penn chief financial officer told the analyst that Portnoy and Katz are essentially consultants, and they, along with Barstool CEO Erica Nardini, have employment contracts with Penn. The trio remains investors in both Barstool and the casino operator. Portnoy��s contract expires in 2025, while the Katz and Nardini pacts expire the following year.

Penn Benefiting from Barstool Association

While there��s already speculation regarding Barstool��s future under the Penn umbrella, the more important near-term challenge for the operator is proving to investors that there are benefits to owning Portnoy��s company. It appears that��s happening on the advertising and commerce fronts.

��The former is benefiting from shows, social, personalities, and the latter is benefiting from its loyal following,�� noted Greff.

The analyst forecasts that Barstool Sportsbook will ramp up marketing spending ahead of the 2023 football season to gain more market share, but won��t get carried away with those expenditures.

��This increased marketing spend will not be in the form of TV advertising, but more so through digital and social channels,�� concluded Greff.

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Madonna’s Old Hollywood Home, a Former Mafia Gambling Den, for Sale https://www.portalapp.net/news/madonnas-old-hollywood-home-a-former-mafia-gambling-den-for-sale/ https://www.portalapp.net/news/madonnas-old-hollywood-home-a-former-mafia-gambling-den-for-sale/#respond Fri, 17 Feb 2023 12:24:43 +0000 https://www.portalapp.net/news/?p=260325 A home that once belonged to Madonna and reportedly was a gambling parlor for mobster Benjamin “Bugsy” Siegel just hit the market. It’s available for around $21 million. The house was purchased by Madonna for $5 million in 1993, according to a diary kept by her brother, interior designer Christopher Ciccone. About three years later, […]

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A home that once belonged to Madonna and reportedly was a gambling parlor for mobster Benjamin “Bugsy” Siegel just hit the market. It’s available for around $21 million.

Castillo del Lago sits secluded below the Hollywood sign
Castillo del Lago sits secluded below the Hollywood sign. The former home of Madonna, once a home belonging to mobster Bugsy Siegel, is for sale. (Image: Carolwood Estates)

The house was purchased by Madonna for $5 million in 1993, according to a diary kept by her brother, interior designer Christopher Ciccone. About three years later, she sold it. It has changed hands several times since then.

A listing on the website of real estate agency Carolwood Estates indicates Castillo del Lago sits below the famed Hollywood sign. The posting was on the website as of February 16 but is no longer available.

The 1920s-era estate in the Hollywood Hills was also the location for several scenes from 1984’s Beverly Hills Cop.

A Piece Of History

“Houses of Los Angeles,” a 2007 book about real estate in the area, explains that the home was built by the architect John DeLario in the 1920s. The Spanish-style house was one of the first in what would become Hollywoodland.

In his book about his sister, Ciccone explains how the pop star spent about $3 million renovating and decorating the building. On one trip to London, with Madonna’s approval, he spent a “fortune” buying furniture before shipping it back to Hollywood. In addition, a painting that once hung in the Palace of Versailles made it to Madonna’s living room.

In 2010, Madonna sold the house to business manager Joe Pytka, who then sold it back to fashion designer Leon Max of Max Studio for just $7 million. Max then began a project to restore much of the original atmosphere that had made Castillo del Lago attractive in the first place.

The Carolwood Estates listing indicated that the home is approximately 10,500 square feet and contains nine bedrooms. It offers views of downtown Los Angeles and Lake Hollywood from its two floors, and includes a spiral staircase and an elevator at the entrance.

A lounge is located on the second floor of the main building on the second floor. In addition to its central courtyard and outdoor fireplace, the two-story room boasts beautiful trees, a media room, a bar, several terraces, and an outdoor lap pool.

Mob Era

Siegel reportedly lived in the house after buying it in the late 1930s. He was a notorious gangster who’s still famous today for his background in the mafia and in Las Vegas.

At one point, Siegel ran a legitimate gambling operation at California’s Santa Anita Park. He got into sports betting in California, managing part of a business that was making as much as $500K a day. At the same time, he used Castillo del Lago as an illegal casino, according to historians.

He reportedly rubbed elbows with Gary Cooper, Cary Grant, and Frank Sinatra, who may have visited the property.

In the 1940s, Siegel spent much of his time at the Flamingo Hotel and Casino in Vegas. He regularly traveled between Sin City and Beverly Hills, where he still maintained a residence with gangster girlfriend, Virginia Hill.

On June 20, 1947, while relaxing at home in Beverly Hills, an unknown assailant shot and killed Siegel in a sniper attack. To this day, no one knows who it was or who may have ordered the assassination.

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Twitch Permanently Bans High-Profile Streamer ‘Sliker’ Over Gambling Scams https://www.portalapp.net/news/twitch-gives-high-profile-streamer-sliker-permanent-ban-over-gambling-scams/ https://www.portalapp.net/news/twitch-gives-high-profile-streamer-sliker-permanent-ban-over-gambling-scams/#respond Wed, 08 Feb 2023 13:29:38 +0000 https://www.portalapp.net/news/?p=258496 “Sliker” helped put gambling in a bad light last year when the popular Twitch streamer outed himself for scamming others to feed his habit. Twitch kicked him off the platform temporarily before the channel suddenly came to life last month. But that return was short-lived. It was made public in late September that the content […]

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“Sliker” helped put gambling in a bad light last year when the popular Twitch streamer outed himself for scamming others to feed his habit. Twitch kicked him off the platform temporarily before the channel suddenly came to life last month. But that return was short-lived.

Twitch streamer Sliker participates in an interview
Twitch streamer “Sliker” participates in an interview. He has lost his Twitch channel after admitting to stealing from others to feed his gambling habit. (Image: Game Rant)

It was made public in late September that the content creator defrauded fans and other creators of hundreds of thousands of dollars. He admitted to carrying out his scheme through pleas for financial support and swearing to repay the loans as soon as possible.

On January 26, Sliker’s channel became active again, although he claimed it was due to a hack. The channel is completely gone now, the latest casualty of Twitch’s newfound moral compass.

Other streamers rallied together after Sliker made his announcement last year. However, they didn’t target him �C they went after Twitch and its gambling content policies. The admitted gambling scammer served as the catalyst to pit the creators against the streaming giant.

Bringing Down the House

Twitch ultimately had to give in and began cutting down on certain gambling content. It’s putting distance between itself and any gambling content that might not be derived from reputable sources in the regulated gaming ecosystem.

Sliker, who once had more than 432K followers on his ItsSliker Twitch channel, became part of that group because of his gambling. He lost his ability to add new subscribers, and the platform took away his partnership status.

However, he didn’t lose his channel. Instead, he received a slap on the wrist before the channel reappeared last month. Now, when trying to view the channel, users find a “This channel is currently unavailable due to a violation of Twitch’s Community Guidelines or Terms of Service” message.

A thread on Reddit discussed the new ban, with some wondering why Twitch took so long to take action. Perhaps the platform wanted to allow Sliker to return once the fervor died down, or as one Reddit user pointed out, the ban is only a response to the supposed hack.

Twitch Plays Both Sides

Twitch has made millions of dollars off gambling content, which is an important piece of the business that it isn’t eager to give up. It succumbed to peer pressure when it announced the ban last year. But it isn’t willing to let go entirely.

Streamer xQc, whose channel often published gambling streams, became a casualty of the ban. He’s now calling out the platform for maintaining double standards.

Trainwreck, another high-profile gambling content streamer, recently called out Twitch for allowing online slot and casino content. These are two areas that the company specifically said it wouldn’t allow. But he provided evidence that they’re alive and well.

In one of his broadcasts, Trainwreck showed another channel that was recording online slot play. It had about 20K concurrent views, and Trainwreck wanted to know how Twitch could allow it. The company never responded.

xQc backs him up. He said Twitch has to evenly enforce the rules across the board, not pick and choose where it wants to apply them. However, without some sort of intervention, Twitch will continue to do what it needs to do to protect its bottom line.

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James Packer, Ex-Crown Resorts Boss, Wants in on Argentina’s Energy Business https://www.portalapp.net/news/former-crown-resorts-boss-james-packer-wants-in-on-argentinas-energy-business/ https://www.portalapp.net/news/former-crown-resorts-boss-james-packer-wants-in-on-argentinas-energy-business/#respond Thu, 02 Feb 2023 17:08:36 +0000 https://www.portalapp.net/news/?p=257379 James Packer “voluntarily” resigned from his involvement in Crown Resorts and Australia’s gaming industry. But the casino operator’s founder and former chairman isn’t ready to exit the business world. His latest target is on the other side of the Pacific Ocean in Argentina’s energy sector. Packer received AUD3.36-billion (US$2.33 billion) last year when Blackstone finalized […]

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James Packer “voluntarily” resigned from his involvement in Crown Resorts and Australia’s gaming industry. But the casino operator’s founder and former chairman isn’t ready to exit the business world. His latest target is on the other side of the Pacific Ocean in Argentina’s energy sector.

James Packer (right) shares a laugh with actor Russell Crowe
James Packer (right) shares a laugh with actor Russell Crowe. Australia’s former casino mogul could be considering investments in Argentina to support the government. (Image: News Limited)

Packer received AUD3.36-billion (US$2.33 billion) last year when Blackstone finalized its purchase of Crown Resorts. That was on top of other money he had through different businesses, investments, and inheritances, and he’s reportedly now looking for a way to spend it.

Bloomberg reported that Packer apparently has his eyes on Argentina following a meeting last year. As the country looks for a way to flip its economic problems and runaway inflation, outside investments might be the best solution.

Charging Argentina’s Energy Sector

This is reportedly not a spur-of-the-moment decision by Packer. The wheels began turning when he met with Economy Minister Sergio Massa and other politicians and businessmen last year at a dinner party in the country.

During that dinner, according to anonymous sources, the topic turned to investments. Even then, Argentina knew its economy was slipping, and it’s continued to suffer more since then. Now, the annual inflation rate hovers just under 100%.

As a result, Massa knows that something needs to be done, not only to correct the economy, but to make Argentina more self-sufficient. That’s where Packer may come in.

One of the country’s leading projects right now is focusing on energy through oil and gas production. The country has untapped resources it wants to exploit, and wants to expand the capacity of a major pipeline to access the vast deposits of oil and gas in the Vaca Muerta formation.

At the same time, an Italian company, Enel SpA, is looking for buyers for all of its assets in the country. Among these are a power plant and a power distribution center in Buenos Aires.

There’s also the possibility that Argentina can get into the lithium mining business. As the world continues to shift toward electric vehicles and a continued dependency on batteries, Argentina has the capability, but lacks the necessary funds to move the project ahead.

Mining Itself Out of a Hole

Last year, Argentina reached a revised, $44.5-billion funding agreement with the International Monetary Fund (IMF) that includes a concerted effort to lower energy subsidies at the same time the government increased prices. The first hearings on the topic began last week, addressing upcoming increases for electricity companies. They’re complaining that they receive less than 40% of what consumers actually pay.

The Argentine government announced on January 18 that it will buy back $1 billion in overseas bonds. The goal is to improve the country’s debt profile. But the IMF warns that it might not be enough. Since the announcement, the value of Argentina’s global bonds has increased by 20%.

Should the country decide to bring in Packer’s money, there would be a reduced demand for US dollars for energy imports. This is one of the IMF’s requirements in the funding deal, as Argentina currently spends around $9 billion annually to purchase foreign energy.

The Vaca Muerta formation, which spans around 30,000 square kilometers (11,583 square miles), is the largest outside of North America. It is already a major source of oil and gas, but Argentina wants to expand its output.

According to a government tender last October, the current output is 75Mm3/d (million cubic meters per day). The goal is to eventually reach 115Mm3/D, with much of that being exported.

While Argentina hasn’t shown a lot of support for foreign investments recently, Packer may force it to change its stance. He’s the perfect buyer �C someone with a lot of cash and a desire to spend it.

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Penn Entertainment Approves New $750M Buyback Plan https://www.portalapp.net/news/penn-entertainment-announces-another-750m-buyback-plan/ https://www.portalapp.net/news/penn-entertainment-announces-another-750m-buyback-plan/#respond Fri, 09 Dec 2022 00:21:02 +0000 https://www.portalapp.net/news/?p=247256 Penn Entertainment (NASDAQ:PENN) has added to the buyback binge in the gaming industry, announcing the approval of a $750 million share repurchase plan. That��s in addition to a buyback program for the same amount announced by the Pennsylvania-based regional casino operator in February. Repurchases by the Company are subject to available liquidity, general market and […]

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Penn Entertainment (NASDAQ:PENN) has added to the buyback binge in the gaming industry, announcing the approval of a $750 million share repurchase plan.

Penn buyback
Penn Entertainment CEO Jay Snowden. The company announced a new $750 million buyback plan. (Image: Bloomberg)

That��s in addition to a buyback program for the same amount announced by the Pennsylvania-based regional casino operator in February.

Repurchases by the Company are subject to available liquidity, general market and economic conditions, alternate uses for the capital and other factors. Share repurchases may be made from time to time through a 10b5-1 trading plan, open market transactions, block trades or in private transactions in accordance with applicable securities laws and regulations and other legal requirements,�� according to a Form 8-K filing with the Securities and Exchange Commission (SEC).

A 10b5-1 trading plan allows companies to repurchase their own shares during periods in which they��d usually be prevented from doing so.

Companies Love Buybacks

Companies that announce buyback plans are not obligated to fulfill the total amount announced, confirming there��s flexibility with this form of shareholder rewards. Additionally, investors don��t pay taxes on buybacks as they do with dividends.

At the end of the third quarter, Penn Entertainment had $211 million left on the previously announced share repurchase program. In the aforementioned Form 8-K, the casino operator said it intends to exhaust that allotment before engaging in the newly announced $750 buyback plan.

��Given our strong financial positioning and our continued belief that there is significant dislocation between our stock price and our intrinsic valuation, we repurchased an incremental 5.35 million shares in the third quarter for $168 million or an average price of $31.40 per share. Subsequent to the end of the quarter, we repurchased an additional 1 million shares for $29.1 million at an average price of $28.95 per share,�� said Penn CEO Jay Snowden on the company��s third-quarter earnings conference call.

As of the close of US markets today, Penn has 157.60 million shares outstanding, according to Finviz data. Based on today��s closing price of $32.95, the casino operator could shrink its shares outstanding tally by more than 22.76 million by spending $750 million on buybacks. The stock is down 36.45% year-to-date.

Penn Buyback Could Allay Investor Concerns

Penn��s stock is struggling in 2022. So much so that earlier this year, it was booted from the S&P 500. The stock is also being hampered by concerns that the company is spending too much on new projects and that the operator��s debt burden is too high.

However, there��s speculation that an activist investor may be eyeing the stock, which could put Penn on notice that it needs to pare debt and potentially part ways with slumping assets. Another possible catalyst for the stock is the point that the company��s digital gaming unit, including Barstool Sportsbook, is nearing profitability.

At the very least, the new buyback announcement tells investors Penn management sees value in the beaten-up stock.

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Chile’s Dreams Casino in Chaos After Arrival of Surprise Guest MrBeast https://www.portalapp.net/news/chaos-at-the-dreams-casino-in-chile-following-arrival-of-surprise-guest/ https://www.portalapp.net/news/chaos-at-the-dreams-casino-in-chile-following-arrival-of-surprise-guest/#respond Thu, 24 Nov 2022 13:49:26 +0000 https://www.portalapp.net/news/?p=244932 Guests staying at the Dreams casino hotel in Punta Arenas, Chile, expected to enjoy a relaxing trip on the water this week. What they got, however, was an endless mob hoping for a chance to meet an unexpected arrival. MrBeast, whose real name is Jimmy Donaldson, unseated PewDiePie as the most famous content creator on […]

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Guests staying at the Dreams casino hotel in Punta Arenas, Chile, expected to enjoy a relaxing trip on the water this week. What they got, however, was an endless mob hoping for a chance to meet an unexpected arrival.

MrBeast and The Rock
MrBeast (left) takes a picture with actor The Rock. The YouTube personality and gambler is reportedly staying at a Dreams casino and hotel in Chile, causing fans to surround the property for a chance to meet him. (Image: Twitter)

MrBeast, whose real name is Jimmy Donaldson, unseated PewDiePie as the most famous content creator on YouTube as he reached the 112 million subscriber mark. A few days later, he dropped into Chile and the Dreams property unannounced.

The arrival set off a frenzy of activity in and around the property. MrBeast, who can hold his own at the poker tables, is known to give away large sums of cash, and people flocked to the hotel for a chance to meet the good luck charm.

MrBeast and a Dream

At 24 years old, the North Carolina native has created an entire community with his highly-produced videos. He constantly gives away money and raffles prizes with certain charitable components. In addition to his primary YouTube channel, he has a parallel channel in which he only dedicates himself to charitable work.

ITV Patagonia confirmed that the YouTuber is in Punta Arenas. On social media, people from Punta Arenas and other areas are talking about it as well. Photos of MrBeast on Instagram and other channels show hordes of people standing outside the hotel.

It isn’t clear what MrBeast is doing in Chile, although it likely isn’t for a vacation. He hinted on his social media platform recently of an upcoming “surprise” for his followers. Based on some of his previous content creations, something big is in store.

Because of his place in the public spotlight, the man who launched a real-life Squid Game based on the South Korean TV series has been a fixture in the gambling space. He has played poker with Phil Hellmuth (and took his chips), competed in eSports competitions, and even has his own luxury suite package at the Palms Casino Resort in Vegas.

Changing Of The Guard

After almost 10 years at the top, PewDiePie recently lost his spot as the YouTuber with the most subscribers to MrBeast. Real name Felix Kjellberg, PewDiePie achieved the most-subscribed YouTube channel in August 2013 thanks to his video game reaction videos.

Six years later, PewDiePie was the first person to get 100 million people to join his channel. However, the philanthropy of MrBeast earned him his 112 millionth subscriber this month.

MrBeast’s channels have seen meteoric growth in the past couple of years. This is due partly to the aggressive optimization of YouTube’s algorithm, but also because of his approach to viral content and unique video concepts.

Going beyond the digital realm, Donaldson has also launched MrBeast Burger, a fast-food restaurant he hopes to turn into a chain. At the same time, he still earns millions from his YouTube activity, which he then hands out to others through his philanthropical endeavors. This then creates new followers, and the cycle continues.

MrBeast and PewDiePie might sit at the top of YouTube in terms of subscribers of individuals with the most subscribers, but neither holds the top overall spot. That honor goes to the Indian record label and film producer T-Series, which has 229 million subscribers.

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‘Mattress Mack��s�� $75M Astros Haul Seen Imperiling Q4 Sportsbook Profitability https://www.portalapp.net/news/mattress-mack-astros-bets-weigh-on-sportsbooks-q4-profits/ https://www.portalapp.net/news/mattress-mack-astros-bets-weigh-on-sportsbooks-q4-profits/#respond Mon, 07 Nov 2022 21:59:59 +0000 https://www.portalapp.net/news/?p=241485 Jim ��Mattress Mack�� McIngvale won a cool $75.7 million when the Houston Astros clinched the World Series last Saturday. That haul could ensure some sportsbook operators won��t be profitable in the fourth quarter. The Gallery Furniture founder was the largest single-event liability on record for US sportsbooks because, throughout the 2022 Major League Baseball (MLB) […]

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Jim ��Mattress Mack�� McIngvale won a cool $75.7 million when the Houston Astros clinched the World Series last Saturday. That haul could ensure some sportsbook operators won��t be profitable in the fourth quarter.

Mattress Mack
Jim ��Mattress Mack�� McIngvale at the World Series. His futures bets on the Astros likely ensure some sportsbooks won’t be profitable in the current quarter. (Image: ABC7)

The Gallery Furniture founder was the largest single-event liability on record for US sportsbooks because, throughout the 2022 Major League Baseball (MLB) season, he made a series of futures wagers on the Astros to win the title at odds ranging from 5-1 to 10-1.

Caesars Sportsbook, which has been nearing profitability, took a $3 million bet from McIngvale at 10-1 odds, meaning the furniture scion netted $30 million on that play — the largest single payout in US sports wagering history.

He also placed Astros World Series futures bets with Barstool Sportsbook, Betfred, BetMGM, Unibet, and WynnBET. Mattress Mack placed $2 million wagers with Barstool and BetMGM, meaning his payouts from those books are $10 million plus the amount wagered. He bet $1 million apiece at Betfred, Unibet, and WynnBET, meaning he netted $5 million on each of those tickets.

And I think if Mattress Mack doesn��t hit, we��ll be profitable Q4 if he does, then it will probably be closer to breakeven-ish somewhere in that range,�� said Penn Entertainment (NASDAQ:PENN) CEO Jay Snowden on the company��s recent third-quarter earnings conference call.

That company owns Barstool Sportsbook.

Sportsbook Losses, But They Still Win

McIngvale has a history of using massive sports bets to drive traffic to his two Houston-area stores and the company��s website.

Much to the delight of sportsbook operators, at least before Saturday, November 5, his wagering track record was poor, with losers including a combined $9.5 million on the Cincinnati Bengals to win last season��s Super Bowl, $2 million on the New England Patriots to win the Super Bowl, and $1 million on the Houston Cougars to win the NCAA men��s basketball title in 2021.

His current promotion is refunding mattress sales �� on select brands �� of $3,000 or more if the Houston Astros win the 2022 World Series. Although the books took a big hit on Mattress Mack��s World Series wagers, some analysts see other tangible benefits for the industry.

��Even with a widespread hit from the World Series outcome, in the long term we anticipate the viral sensation of Mattress Mack��s payout to be an effective marketing headline, as well as further evidence of the wide social acceptance of sports betting,�� wrote CBRE’s John DeCree in a note to clients.

Profitability Paradox

Amid the proliferation of mobile sports betting across the US, some operators have come under fire for declining action from sharp bettors. In other words, there��s a difference between big bettors and sharps, and in the eyes of the aforementioned books, Mattress Mack likely resides in the former category.

Still, profitability is the name of the game for operators, and it��s been elusive. To date, FanDuel notched the only profitable quarter — the second of 2022 — in US sports wagering history. Barstool, BetMGM and Caesars Sportsbook were getting close, indicating McIngvale��s Astros wins could temporarily disrupt those companies�� pursuit of shedding their money-losing ways.

With profitability in focus across the sports wagering industry, shareholders of some operators are likely breathing sighs of relief Mattress Mack didn��t wager with those books.

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Houston Astros Give ‘Mattress Mack’ $75M Reasons to Celebrate World Series Win https://www.portalapp.net/news/houston-astros-give-mattress-mack-75-million-reasons-to-celebrate-world-series-win/ https://www.portalapp.net/news/houston-astros-give-mattress-mack-75-million-reasons-to-celebrate-world-series-win/#respond Sun, 06 Nov 2022 13:21:01 +0000 https://www.portalapp.net/news/?p=241203 The Houston Astros weren��t the only ones celebrating a big victory Saturday night. When Kyle Tucker caught Nick Castellanos�� foul out to win Game 6 of the World Series and clinch the title, it also meant Houston businessman Jim ��Mattress Mack�� McIngvale cashed in to the tune of $75.7 million. McIngvale, whose high-profile bets are […]

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The Houston Astros weren��t the only ones celebrating a big victory Saturday night.

Mattress Mack
Houston businessman Jim “Mattress Mack” McIngvale, seen here placing a $3.5 million bet on the Houston Astros in 2019 at the Scarlet Pearl Casino in Mississippi, won $75.7 million after the Astros won the 2022 World Series on Saturday night. (Image: Scarlet Pearl Casino/Twitter)

When Kyle Tucker caught Nick Castellanos�� foul out to win Game 6 of the World Series and clinch the title, it also meant Houston businessman Jim ��Mattress Mack�� McIngvale cashed in to the tune of $75.7 million.

McIngvale, whose high-profile bets are tied to sales at his Gallery Furniture stores, placed several bets totaling $10 million during the season on his hometown team winning the World Series. The sports bets act as insurance, as he offers refunds to buyers should a certain team win a title. This year, some Gallery customers received double-their-money-back offers on the Astros, winning it all for purchases they made earlier in the year.

The Astros had McIngvale throw the ceremonial first pitch before Saturday’s game.

Early Sunday morning, he posted a statement on Twitter, thanking the city, the Astros, and his wife, Linda.

��We share this victory together,�� he said.

Sportsbooks Offer Congratulations

The single biggest bet came in May. McIngvale bet $3 million at Caesars when the Astros had 10-1 odds to win the World Series. He netted $30 million from that wager, which the Las Vegas-based operator said represents the single largest payout in legal sports betting history.

Just before the World Series started, McIngvale and Caesars held a joint press conference to discuss the wager and also announce a mattress giveaway to veterans and first responders in Houston, Philadelphia, and Atlantic City.

Would we do it all again? You bet,�� said Ken Fuchs, COO of Caesars Digital. ��While Mack may have won this round on the field, we��re proud of how we teamed up to support first responders and military veterans in Houston, Philly, and Atlantic City. And to Mack �C we tip our Astros cap �C and remind him that he can now support his Texans and Rockets.��

The NFL��s Texans and the NBA��s Rockets are ��attractively priced�� at 1000-1, Fuchs noted. They both have the worst records in their leagues.

McIngvale also made other bets with Barstool Sportsbook, Betfred, BetMGM, Unibet, and WynnBET when the Astros odds were 5.33-1 (+533) at Barstool and 5-1 elsewhere. He wagered $2 million each at BetMGM and Barstool and $1 million apiece at Betfred, Unibet, and Wynn.

He and other winning Astros bettors received a congratulatory video from Betfred founder and CEO Fred Done on Saturday night.

��You had the guts, the balls to put your money on the line�� You won. You deserve your money. I��m paying you,�� Done said.

Dodgers Early Favorite for 2023 World Series

With the 2022 MLB season now complete, some sportsbooks have already posted their odds for next year.

BetMGM has the Los Angeles Dodgers as its favorite to win it all, with odds of 5-1. The Astros are next at 7-1, with the Atlanta Braves available at 8-1.

Caesars also has the Dodgers at 5-1, but the Astros are 5.5-1. Meanwhile, the Braves and New York Yankees are 8.5-1.

These odds will likely change during the off-season as teams make trades and sign free agents. The biggest impact on the odds could come from which team signs Yankees slugger Aaron Judge, who is about to hit the market after swatting an American League record 62 home runs.

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Pete Rose Scheduled to Place First Wager at Hard Rock Cincinnati Sportsbook https://www.portalapp.net/news/pete-rose-scheduled-to-place-first-wager-at-hard-rock-cincinnati-sportsbook/ https://www.portalapp.net/news/pete-rose-scheduled-to-place-first-wager-at-hard-rock-cincinnati-sportsbook/#comments Wed, 02 Nov 2022 18:24:34 +0000 https://www.portalapp.net/news/?p=240685 Pete Rose, MLB��s all-time hits leader, has been banished from the game for more than 30 years because of gambling. Yet he will help usher in Ohio��s legalized sports betting era on January 1. Rose, a Cincinnati native and all-star player for the Cincinnati Reds and Philadelphia Phillies, will place the first bet at Hard […]

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Pete Rose, MLB��s all-time hits leader, has been banished from the game for more than 30 years because of gambling. Yet he will help usher in Ohio��s legalized sports betting era on January 1.

Pete Rose
All-time baseball great and Cincinnati native Pete Rose gives a television interview at the Hard Rock Cincinnati during its grand opening in October 2021. Rose will return to the casino on January 1 to place the first sports bet at Hard Rock’s sportsbook. (Image: FOX19.com)

Rose, a Cincinnati native and all-star player for the Cincinnati Reds and Philadelphia Phillies, will place the first bet at Hard Rock Cincinnati��s retail sportsbook, according to a release from the Seminole Gaming casino.

In 1989, when Rose was the Reds’ manager, an MLB investigation determined that he had bet on his team, which is a direct violation of league rules. He��s been banned from the league since, although MLB has granted some waivers for him to appear at some Reds and league events. Rose’s requests to be reinstated have been denied.

After the Rose scandal, the Baseball Hall of Fame instituted a policy that anyone banned from the sport would not be eligible for enshrinement.

Other Former Cincy Athletes Scheduled to Attend

Rose is expected to place the first bet at Hard Rock at 12:01 am on New Year��s Day. That coincides with the Ohio Casino Control Commission��s decision to allow sportsbooks to launch once the ball drops in Times Square, as OCCC Executive Director Matt Schuler said earlier this year.

He won��t be alone, as Hard Rock has lined up eight other Cincinnati sports legends to help open the sportsbook. They include longtime Reds announcer Marty Brennaman and former players Tom Browning and Bronson Arroyo. Also on hand will be Olympic gold medal track star Mary Wineberg, former Cincinnati Bengals Anthony Munoz, Ickey Woods, Jim Breech, and David Fulcher.

This won��t be the first time Rose celebrates with Hard Rock. A year ago, he and other Cincinnati celebrities, including funk legend Bootsy Collins, participated in the official grand opening of the rebranded Hard Rock Casino. The casino actually opened in March 2013 but has switched hands a couple of times. Hard Rock closed on the casino deal with JACK Entertainment in 2019.

Hard Rock Approved Wednesday

On Wednesday, the OCCC conditionally approved Hard Rock��s application for its retail and online sports betting proprietor licenses.

We’re excited about launching our sportsbook on January 1,�� Hard Rock Cincinnati President George Goldhoff told the commissioners at the meeting in Columbus. ��I think it��s going to be great for Ohio, great for Hard Rock Cincinnati.��

As a casino operator in Ohio, Hard Rock was one of the companies that received preferential consideration from the OCCC for its proprietor licenses. Under the sports betting law the Ohio legislature passed nearly a year ago, the state��s casinos, racinos, and professional sports teams were given preference for brick-and-mortar sportsbooks and online applications.

The law allows approved proprietors to partner with one or two online sports betting operators and host one retail sportsbook.

Hard Rock will operate its own retail book and its online app. The app is available to download before the January 1 launch date.

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‘Mattress Mack’ Doubts Texas Will Expand Gaming in His Lifetime https://www.portalapp.net/news/why-mattress-mack-doubts-texas-will-expand-gaming-in-his-lifetime/ https://www.portalapp.net/news/why-mattress-mack-doubts-texas-will-expand-gaming-in-his-lifetime/#respond Sun, 30 Oct 2022 19:01:27 +0000 https://www.portalapp.net/news/?p=240097 Texas Gov. Greg Abbott may be willing to consider allowing casinos in the Lone Star State. But the state��s most famous gambler isn��t convinced it will happen any time soon. Jim ��Mattress Mack�� McIngvale discussed the state��s prospects for expanded gaming during a press conference Thursday afternoon with Caesars Sportsbook. The talk was regarding his […]

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Texas Gov. Greg Abbott may be willing to consider allowing casinos in the Lone Star State. But the state��s most famous gambler isn��t convinced it will happen any time soon.

Mattress Mack Caesars
Caesars Sportsbook ambassador Kenny Mayne (left) meets with Gallery Furniture owner Jim “Mattress Mack” McIngvale in Houston as they announce a joint initiative to give free mattresses to military veterans and first responders in Houston, Philadelphia, and Atlantic City. McIngvale, 71, said he believes Texas will not expand gaming in his lifetime. (Image: Caesars Entertainment)

Jim ��Mattress Mack�� McIngvale discussed the state��s prospects for expanded gaming during a press conference Thursday afternoon with Caesars Sportsbook. The talk was regarding his $3 million bet on the Houston Astros to win the World Series. They also announced a joint venture between McIngvale��s Gallery Furniture and Caesars to provide new mattresses for military personnel and first responders in the Houston, Philadelphia, and Atlantic City areas.

Ever the showman, McIngvale even found a way to reference his longshot wager on the Astros that��s just four wins away from cashing in.

I’ve always said I don’t think Texas will have legalized sports gambling and casino gambling in my lifetime,�� the 71-year-old Houston businessman said. ��There’s a lot of people here that are opposed to it, and from my standpoint, that’s OK.

��I think it may happen, but the odds are against it. Kind of like when I took the Astros at 10-1. The odds were very much against me getting this $30 million payout from Caesars, but long shots come in all the time. The longshot may come in if Texas gets casino gambling and sports gambling.��

Abbott, a Republican, is currently running for a third term as governor. He faces Democrat Beto O��Rourke in the Nov. 8 election. Earlier this year, O��Rourke himself mentioned expanded gaming while campaigning. However, O��Rourke finds himself trailing 52% to 43% in a Spectrum News/Siena College Research Institute poll released last week.

According to the American Gaming Association, Texas has two Class II tribal casinos. The state also offers a lottery and licenses three thoroughbred and quarter horse racetracks.

Abbott��s spokesperson told the Houston Chronicle that the governor would consider casino gaming ��if there was a way to create a very professional entertainment option for Texans.��

Texas is the second-largest state in the US. With a population of just less than 30 million, it’s potential as a gaming market is rather big. Abbott also has financial connections to some major gaming moguls. That includes Dr. Miriam Adelson, the widow of Las Vegas Sands founder Sheldon Adelson, and Houston businessman Tilman Fertitta, whose Landry��s corporation owns Golden Nugget Casinos.

Dallas Cowboys owner Jerry Jones also co-owns Legends Hospitality. That company is partnering with Cherokee Nation Business for a casino license in Arkansas.

About Mattress Mack

This year McIngvale, whose sports bets are tied to promotions at his stores, has $10 million wagered on his hometown baseball team. He placed those bets with several sportsbooks, including Caesars, Betfred, and Unibet, on the Astros to win. Some Gallery Furniture customers stand to win double their money should Houston win its second World Series title.

If the Astros win, McIngvale has said he stands to receive around $75 million.

But McIngvale also has other ties to gaming. Last month, he unveiled GallerySports.com, a sports media site, and also announced plans for Gallery Gaming, which will focus more on sports wagering.

McIngvale also has an interest in horse racing. He owns Runhappy, a champion racer now retired to stud. He uses the horse��s name to promote races and meets, and previously mentioned his interest in buying Ellis Park in Kentucky.

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Justin Bonomo Earns Nearly $48K a Day Playing Poker in October https://www.portalapp.net/news/justin-bonomo-earns-78k-a-day-playing-poker-in-october/ https://www.portalapp.net/news/justin-bonomo-earns-78k-a-day-playing-poker-in-october/#respond Fri, 28 Oct 2022 15:39:10 +0000 https://www.portalapp.net/news/?p=239945 Justin Bonomo had a solid run at the poker tables this month, averaging nearly $48K a day in winnings. As he continues to show off his skills at the felt, Bonomo pocketed a little more than $1.6 million in just five tournaments in the period between October 5 and October 28. That enabled him to […]

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Justin Bonomo had a solid run at the poker tables this month, averaging nearly $48K a day in winnings. As he continues to show off his skills at the felt, Bonomo pocketed a little more than $1.6 million in just five tournaments in the period between October 5 and October 28. That enabled him to retain his lead at the top of the charts.

Justin Bonomo
Justin Bonomo at the poker table during the 2018 World Series of Poker. The winningest player in the game added over $1 million to his bank in October. (Image: AssoPoker)

In 2022, Bonomo has 11 cashes, including three in the WSOP, along with seven final tables and three more titles. During his career, he has won over $58.8 million in live tournaments and is first in the ranking of the winningest poker players. Bryn Kenney follows closely with $57.2 million, and Daniel Negreanu completes the podium with $49.5 million.

Bonomo crushed the tables in October, either taking down tournaments or making it to the final table. As the debate over whether poker is a game of skill or luck continues, Bonomo is showing that skill has a lot to do with it.

Crushing the Felt

Bonomo’s biggest October finish was fourth place for $720K at the $300K Super High Roller Bowl, which Negreanu ultimately won. That win let DNegs break his two-year losing streak, and also gave him a little satisfaction.?Bonomo beat Negreanu in the same event four years ago. Last year, he finished second, pocketing $1.89 million.

The next biggest pot the Virginia native took this month was $229,500, which came from a first-place finish at the $25K WPT Five Diamond World Poker Classic. In between, he cashed for $24K for finishing third at a $10K WPT Five Diamond high roller event and $75,792 for taking down another $10K high roller tournament in the same series.

Because he’s Bonomo, and just to make sure everyone knows he’s a GOAT, he added another $44,700 on October 19. That was at the WPT Five Diamond $10,400 tournament, although he only made it to 18th place.

Hanging with Dolly

Poker players who aren’t ready for the cut-throat high rollers, or who just want to help a good cause, have a couple of options next month. There are two charity poker tournaments coming up, one of which features poker legend Doyle “Texas Dolly” Brunson.

The first charity event, the Cards For Kindness Poker Tournament, will take place online on November 3. This marks the second event in as many years for Riley’s Way Foundation, a charity founded by poker enthusiast and WSOP participant Ian Sandler.

The virtual event starts with a Zoom presentation, with the cards flying immediately afterward. The tournament will be held on Poker4Life, a platform that was specifically created to host charity poker tournaments.

The winner of the event will receive a 2023 World Series of Poker Main Event ticket worth $10K. There are also vacation getaways, golf packages, and dinner for six at Peter Luger’s Steakhouse in New York City. Tickets for four to a New York Giants NFL match are also available.

The other big charity event will take place the following day. The 2022 Keep Memory Alive Charity Poker Tournament is coming to Las Vegas, with Brunson, Negreanu, and Jack Binion hosting the event.

The buy-in is $575, and there are $200 advance rebuys available prior to the event, which the Las Vegas Raiders are sponsoring. It will benefit the Lou Ruvo Center for Brain Health at Cleveland Clinic in Las Vegas.

The winner of the tournament will pocket $10K. Other noncash prizes, such as jewelry or trips, are also up for grabs.

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Vince ��Prince�� Vaughn to Be Face of Caesars iGamng Ads https://www.portalapp.net/news/vince-vaughn-will-appear-in-new-caesars-advertisements/ https://www.portalapp.net/news/vince-vaughn-will-appear-in-new-caesars-advertisements/#comments Mon, 24 Oct 2022 21:52:55 +0000 https://www.portalapp.net/news/?p=239205 Actor Vince Vaughn is the latest celebrity to join Caesars Entertainment��s star-studded stable of famous endorsers. The gaming company announced today he��ll be the face of the operator��s online casino advertisements. Occupying the role of ��Prince Vaughn,�� the Swingers star and poker aficionado will be prominently featured in upcoming Caesars marketing campaigns, including social media […]

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Actor Vince Vaughn is the latest celebrity to join Caesars Entertainment��s star-studded stable of famous endorsers. The gaming company announced today he��ll be the face of the operator��s online casino advertisements.

Vince Vaughn
Actor Vince Vaughn at the 2022 World Series of Poker Main Event in Las Vegas. He’s starring in Caesars commercials. (Image: Getty Images)

Occupying the role of ��Prince Vaughn,�� the Swingers star and poker aficionado will be prominently featured in upcoming Caesars marketing campaigns, including social media ads. He��ll also be promoting experiences and events for Caesars Rewards members.

Prince Vaughn makes his debut in the star-studded spot, ��Full Caesar,�� alongside actor and comedian JB Smoove and the legendary first family of football, the Mannings (Archie, Cooper, Eli, and Peyton). Now airing, the spot features the group having a ��typical�� Caesars experience: enjoying a Caesars Rewards meal with friends and family at a Caesars Rewards location,�� according to a statement issued by the gaming company.

Vaughn will be noting perks associated with the Caesars Sportsbook and Casino mobile application, including the app��s links to Caesars Rewards, its rapid payouts, and venerable and new casino games.

Caesars, Vaughn Have Existing Relationship

The actor and the gaming company have some history together, as he served as the master of ceremonies for the 2022 World Series of Poker (WSOP) main event on the Las Vegas Strip earlier this year.

��Vaughn unveiled the newly designed Main Event bracelet during his procession, before offering a few words and making the iconic ‘Shuffle Up and Deal’ announcement to kick off the last of the prestigious Main Event $10,000 No-Limit Hold’em flights,�� according to Caesars.

Not only was Las Vegas an important cornerstone in Swingers, but Vaughn is a real life poker player, participating in his first gold bracelet event in November 2021. He��s also reportedly a devoted though not necessarily large — in a monetary sense — sports bettor. His father was an aspiring professional gambler, but gave up on that at the behest of Vince��s mother.

��With my long history of love for Las Vegas and gaming, I am excited to be part of the royal family with Caesar and Cleo,�� said Vaughn in the statement.

Vaughn Could Be iGaming Investment for Caesars

Caesars offers mobile sports betting in 19 states, five of which permit internet casinos. That number is expected to grow over time as more states look for new revenue sources.

Additionally, operators are committed to more state-level legalization of internet casinos, because iGaming requires less overhead than sports betting, while offering superior margins and profit potential. To that end, bring a star like Vaughn on board can be seen as an investment by Caesars.

Caesars ranks fifth in iGaming market share at 4.7% �� a small percentage, given that the brand is one of the most recognizable in the industry. But that small slice also implies room for growth.

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Why Mattress Mack Would Like to Own a Horse Racing Track https://www.portalapp.net/news/why-mattress-mack-would-like-to-own-a-horse-racing-track/ https://www.portalapp.net/news/why-mattress-mack-would-like-to-own-a-horse-racing-track/#respond Thu, 20 Oct 2022 23:17:16 +0000 https://www.portalapp.net/news/?p=238718 The gaming world knows Jim McIngvale, aka Mattress Mack, more for his sports bets. But that��s not Mack��s only tie to the industry. He��s also invested in horse racing, best known for owning champion sprinter Runhappy, and his interest in racing almost led to him buying a track. McIngvale told Casino.org that he was considering […]

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The gaming world knows Jim McIngvale, aka Mattress Mack, more for his sports bets. But that��s not Mack��s only tie to the industry.

Mattress Mack
Houston businessman Jim McIngvale, aka “Mattress Mack,” speaks to reporters at Churchill Downs on May 7, 2022, regarding the wager he would make for that day’s Kentucky Derby. McIngvale has been a horseman for years and said recently he considered placing a bid for Ellis Park in Kentucky, but Churchill Downs Incorporated beat him to it. (Image: Casino.org)

He��s also invested in horse racing, best known for owning champion sprinter Runhappy, and his interest in racing almost led to him buying a track.

McIngvale told Casino.org that he was considering a bid for Ellis Park, a racetrack in Henderson, Ky., that Churchill Downs Incorporated purchased last month from Laguna Development Corp. (LDC) for $79 million. McIngvale has been a sponsor of races at the track, which runs the summer meet in Kentucky.

By the time I found that the track was for sale, I think the deal with Churchill was pretty well done,�� he said in an interview earlier this month. ��I definitely had an interest but Churchill was way ahead of me.��

Churchill Downs closed on the purchase on Sept. 26, 11 days after the deal was first announced and less than a week after the Kentucky Horse Racing Commission approved the deal.

That amount, by the way, is almost how much McIngvale stands to gain should the Houston Astros win the World Series. McIngvale owns the Gallery Furniture chain in Houston. He makes wagers like those he made on the Astros earlier this year to hedge free furniture promotions the store runs in connection with sporting events.

‘You Got to Have Some Imagination’

McIngvale��s interest in a racetrack didn��t end when Churchill Downs closed the deal on Ellis. He said he would like to run a track in a fashion similar to how they run in England and at Kentucky Downs, which runs a turf-only boutique meet in September.

��My idea is to get a track that is available, land-wise, where you can have a really wide grass course and fix it up and run 30 horses at a time for big purses a couple times a year,�� he said.

Fields that big are unheard of in US racing. Most tracks will cap fields at 14 horses, with the Kentucky Derby being the exception. It allows 20 horses.

Larger fields also typically attract greater betting interest in pari-mutuel pools. That means betting favorites and other horses will be more likely to have more attractive odds.

I know a little bit about gambling,�� McIngvale said. ��Nothing wrong with the current tracks we have, they all do a great job. You got to have some imagination, and it’s got to be a fan experience. You got to give people a chance to gamble and win some money.��

Ideally, the track would run in the spring and fall, similar to Keeneland’s annual schedule. With more people wagering and watching racing online, he said the ideal grandstand wouldn’t necessarily be a large one. A more compact facility would make it seem more crowded and generate more energy in the stands.

Mattress Mack as a Horseman

According to the Equibase database, McIngvale��s horses have run 1,325 times. Those horses have finished in the money 554 times. His horses have won 195 races, including nine graded stakes, and produced earnings of $9.3 million.

His horses have raced 41 times this year. Next Tuesday, Runup, a 3-year-old filly sired by Runhappy, is scheduled to race at Horseshoe Indianapolis.

There��s also increased interest in horse racing from the sportsbook side as well. Last month, FanDuel inked a deal with Churchill Downs to offer pari-mutuel horse racing from its tracks on its sports betting app. Two weeks ago, PointsBet and The Stronach Group��s 1/ST Technology signed a similar deal.

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Mattress Mack Rolling Out Sports Media Site with Eye on Wagering Content https://www.portalapp.net/news/mattress-mack-debuts-sports-media-site-to-launch-betting-property/ https://www.portalapp.net/news/mattress-mack-debuts-sports-media-site-to-launch-betting-property/#comments Mon, 12 Sep 2022 20:49:11 +0000 https://www.portalapp.net/news/?p=231565 Jim “Mattress Mack” McIngvale is wading into the sports media industry, and is likely to use that platform to later launch a sports wagering content property. The furniture magnate, who’s become popular among sportsbook operators because of his penchant for big wagers that often lose, is rolling out gallerysports.com, named after his Gallery Furniture chain […]

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Jim “Mattress Mack” McIngvale is wading into the sports media industry, and is likely to use that platform to later launch a sports wagering content property.

Mattress Mack
Jim “Mattress Mack” McIngvale, seen above. He started a sports media website and is eyeing a betting site. (Image: Sports Illustrated)

The furniture magnate, who’s become popular among sportsbook operators because of his penchant for big wagers that often lose, is rolling out gallerysports.com, named after his Gallery Furniture chain — Houston��s largest furniture retailer. Mattress Mack��s media property will cover Texas and Louisiana sports. Not surprisingly, the site will be aimed at driving customers to Gallery Furniture��s three Houston-area stores and its website.

At least three former Houston Chronicle journalists are among the Gallery Sports contributors. McIngvale told the newspaper that the site will later be joined by Gallery Gaming, which will focus on sports betting. Like its forefather, the objective of the sports wagering property will be to direct customers to Gallery Furniture.

Content on Gallery Sports is free, indicating the site is taking a different approach than an array of established, web-based sports media properties. Popular content on the site includes coverage of yesterday��s Dallas Cowboys and Houston Texans games, Houston Astros updates, and college football articles on the Houston Cougars and LSU Tigers.

How Gallery Gaming Could Play Out

In the interview with the Chronicle, McIngvale didn��t mention if there will be subscription plans for Gallery Gaming. Most dedicated sports betting sites offer a limited amount of free content, aiming to entice readers to pay for picks eventually.

With the luxury of using the site as a sports-related marketing tool, McIngvale doesn��t have to face the subscription burden and the often fickle customer base that comes along with it.

There are, however, a couple of certainties that could accompany Gallery Gaming. First, the site may be well-received in Louisiana, where sports wagering is live and legal. Among states of comparable size, Louisiana is a sports wagering leader, and its already high bar will be cleared this year because the state benefits from entire seasons of LSU and the NFL��s New Orleans Saints.

On the other hand, Texas is a more frustrating proposition. As the second-largest state by population, Texas is definitely alluring for sportsbook operators and team owners alike. But, while some politicians, including Gov. Greg Abbott (R-TX), are on board with regulated sports betting, Lt. Gov. Dan Patrick (R-TX) isn��t. That��s meaningful because he��s the state senate president and holds considerable power in state politics.

Mattress Mack’s Big Bets

There��s no denying McIngvale��s proclivity for big bets. Proficiency is another matter. His wagers, all of which are essentially marketing promotions to drive traffic to his stores, including a combined $9.5 million on the Cincinnati Bengals to win last season��s Super Bowl, $2 million on the New England Patriots to win the Super Bowl, and $1 million on the Houston Cougars to win the NCAA men��s basketball title in 2021. All those bets lost.

His current promotion is refunding mattress sales — on select brands — of $3,000 or more if the Houston Astros win the 2022 World Series. That’s tied to a $2 million bet on the team to take home baseball’s championship.

That bet could be a winner for McIngvale because the Astros have the best record in the American League and short odds of winning it all. On the other hand, that means he��ll be giving away a lot of nice mattresses for free.

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Tom Brady��s TB12 Offering Performance Coaching at Wynn Las Vegas https://www.portalapp.net/news/tb12-tom-brady-wellness-brand-offering-coaching-at-wynn-las-vegas/ https://www.portalapp.net/news/tb12-tom-brady-wellness-brand-offering-coaching-at-wynn-las-vegas/#respond Mon, 12 Sep 2022 19:27:22 +0000 https://www.portalapp.net/news/?p=231499 TB12, the health and wellness company cofounded by legendary quarterback Tom Brady and Alex Guerrero, will offer performance and recovery-oriented sessions at the Wynn Las Vegas. The TB12 Body Coach sessions will be available in the Encore Fitness Center, adding to a long list of amenities at Wynn and Encore, which are usually among the […]

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TB12, the health and wellness company cofounded by legendary quarterback Tom Brady and Alex Guerrero, will offer performance and recovery-oriented sessions at the Wynn Las Vegas.

Brady Wynn
Tampa Bay Buccaneers quarterback Tom Brady, seen on the field. His TB12 health company is offering wellness coaching at Wynn Las Vegas. (Image: NFL.com)

The TB12 Body Coach sessions will be available in the Encore Fitness Center, adding to a long list of amenities at Wynn and Encore, which are usually among the most highly-rated casino hotels on the Las Vegas Strip.

The Body Coaches will develop a personalized treatment plan that incorporates the TB12 Method and each of the five pillars. In addition, nutritional snacks and TB12 smoothies and supplements will be available at Encore Juice Bar,�� according to a statement.

Other health and wellness amenities at Wynn Las Vegas include spa services and NutriDrip by Clean Market. NutriDrip is where revelers head before party time to prepare their bodies for a night of debauchery. TB12 Body Coach sessions commence at Wynn Las Vegas on September 22.

Brady Long Committed to Fitness

Guerrero is Brady��s long-time trainer, massage therapist, friend, and business partner. His methods aren��t traditional by NFL training standards, and late in Brady��s career with the New England Patriots, Guerrero reportedly butted heads with legendary coach Bill Belichick.

Still, it��s impossible to argue with the results. Last night marked the start of Brady��s 23rd season in a league some jokingly say stands for ��not for long.�� Regarded by some as the best quarterback to ever play the game, Brady has started more than 360 regular season and playoff games, and won seven Super Bowls. Among others, those facts confirm that Guerrero��s methods, while unusual, are effective.

“TB12 is built on the TB12 Method, a series of healthy daily habits across five pillars: pliability, nutrition, hydration, movement, and mental fitness. The TB12 Method fully integrates these pillars, designed around muscle recovery and injury prevention to achieve longevity and pain-free living,�� according to the statement.

Brady and Wynn have an existing though informal relationship that includes the quarterback��s participation in ��The Match�� charity golf event held at Wynn��s course in June.

Brady��s Other Gaming Ties

Brady��s retirement — an idea he flirted with earlier this year before saying he��d return for his 23rd season — is one of the most speculated-upon topics in the NFL.

It��s widely believed that this will be his last season playing in the league, and he��s got plenty of business ventures to tend to when he decides to hang up his cleats. In addition to TB12, some companies the future Hall of Famer is involved with have ties to the gaming industry.

For example, he cofounded Autograph �� a non-fungible token (NFT) platform connected to DraftKings. DraftKings Marketplace will serve as the exclusive distributor of Autograph��s NFT content. Financial terms of that arrangement weren��t disclosed.

In July 2021, the gaming company revealed plans for DraftKings Marketplace, simultaneously announcing a partnership with Autograph. In addition to the DraftKings relationship, Brady��s company has content agreements with movie studio Lionsgate and NFT deals with Tiger Woods, Wayne Gretzky, Derek Jeter, Naomi Osaka, and Tony Hawk.

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Celebrity Million-Dollar Bets – The Top 10 All-Time Winners And Losers https://www.portalapp.net/news/top-10-celebrity-bets-of-all-time/ https://www.portalapp.net/news/top-10-celebrity-bets-of-all-time/#comments Tue, 30 Aug 2022 19:51:48 +0000 https://www.portalapp.net/news/?p=229273 Celebrities are known for earning huge amounts of money from the music, movies, TV shows, and sporting events they entertain us with. However, they are not necessarily known for doing smart things with that money, which also entertains us. Here are our picks for the most famous bets placed by celebrities, along with their outcomes. […]

The post Celebrity Million-Dollar Bets – The Top 10 All-Time Winners And Losers appeared first on Casino.org.

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Celebrities are known for earning huge amounts of money from the music, movies, TV shows, and sporting events they entertain us with. However, they are not necessarily known for doing smart things with that money, which also entertains us. Here are our picks for the most famous bets placed by celebrities, along with their outcomes.

Michael Jordan golf
Michael Jordan, who is most certainly not to the game of golf what he was to the game of basketball, may or may not have lost more than $1 million betting on a golf game in 1991. (Image: golf.com)

10. Michael Jordan
1991
Loss: $1.25M
Venue: Golf

There is no source for this other than a 1993 book titled Michael & Me: Our Gambling Addiction . . . My Cry For Help! by a San Diego businessman named Richard Esquinas. So believe what you will. But the author claims that he and Michael Jordan faced each other in a 1993 golf match at Aviara Golf Course in San Diego that cost Jordan $1.25M.

Our matches frequently came down to $100K putts with occasional swings of upwards of a quarter-million dollars,” Esquinas wrote. “Personally, I felt I was a controlled gambler until Michael and I went berserk in one period of approximately 10 days in September 1991, when I went from potentially more than $200K in debt to $1.25M ahead.”

Esquinas claimed Jordan fell $626K in debt from their golf wagers, then doubled down and lost again. The $1.25M debt eventually was reduced to $902K by still more golf wagers. Esquinas claimed he finally settled for $300K because he feared Jordan might not pay him the entire amount.

UFC President Dana White
Ultimate Fighting Championship President Dana White is banned from the blackjack table at the Palms Casino. (Image: lowkickmma.com)

9. Dana White
May 2014
Win: $2M
Venue: Blackjack

In 2014, Dana White �� the Ultimate Fighting Championship (UFC) president worth a reported $500M �� won $2M over three months playing $25K-per-hand blackjack at the Palms. The Las Vegas casino responded by halving his credit and limiting his table play to $5K per hand. They decided to ban him from blackjack at the casino a few months later.

Two years earlier, White��s blackjack credit line was similarly limited, and White responded by boycotting the Palms and taking his UFC fights, a staple for The Pearl at the Palms venue, with him. (The Hard Rock hosted the Ultimate Fighter 16 Finale on Dec. 15, 2012.)

But the icy relationship was thawed, the Las Vegas Review-Journal reported, when a new Palms chief executive eliminated White��s blackjack limits and sent White a $5k bottle of his favorite wine (2001 Domaine de la Romanee-Conti Montrachet).

The Palms tried to soften the blow this time by sending White a championship belt reading ��Palms Undisputed Blackjack Champion.�� White responded by stating that UFC events would still be held at the Palms. However, to date, only three more were.

Rapper 50 Cent
Rapper 50 Cent puts his money where his mouth is when it comes to his hometown football team. (Image:economictimes.indiatimes.com)

8. 50 Cent
Feb. 5, 2012
Win: $1M
Venue: Super Bowl XLVI

In 2012, 50 Cent won a cool mil by betting a cool mil that his hometown New York Giants would take the New England Patriots in Super Bowl XLVI. The Giants pulled off an upset win, 21-17.

A year before, 50 also won big by betting $500K on the Giants beating the San Francisco 49ers in the 2011 NFC Championship game, which they did 20-17.

Phil Ivey poker
Poker champ Phil Ivey reportedly bet more than a fifth of his lifetime felt earnings on a single football game. (Image: moneycasino.org)

7. Phil Ivey
Feb. 7, 2010
Loss: $2M
Venue: Super Bowl XLIV

Ten-time World Series of Poker champ Phil Ivey��s lifetime felt earnings total $9.3M. That��s a lot, but betting more than a fifth of your worth on a single event is never advisable, even if you��re betting on the favorite to win. Super Bowl XLIV belonged to Drew Brees, not Peyton Manning, and the underdog New Orleans Saints smashed the Indiana Colts, 31-17. The Colts were favored by five points, and Ivey bet on the moneyline, which would have been a smaller payout anyway.

Ivey��s bad beat made for one of the best sports headlines of the Internet era when ChicagoNow.com pronounced: ��Colts Not Biggest Loser in Super Bowl XLIV.��

Charlie Sheen
Charlie Sheen has been known to take “winning” to another dimension. (Image: Getty Images)

6. Charlie Sheen
Dec. 6, 2008
Win: $1M
Venue: Boxing

In a 2012 interview with the New York Times, actor Charlie Sheen said he had a dream that Manny Pacquiao would ��beat [Oscar] De La Hoya like a drum, and he did.�� But when the win elicited no emotional response whatsoever, Sheen said he gave up betting.

Betting didn��t give up on Sheen, however. In 2011, at the height of his ��winning,�� BetUS.com offered odds of Sheen getting arrested in the next 3 months at 5:6 and of Sheen being institutionalized at 25:1.

Ashton Kutcher
After he made it big, Ashton Kutcher claimed he used his ‘dumb actor’ image to front a sports betting syndicate. (Image: giantfreakingrobot.com)

5. Ashton Kutcher
2013
Wins: $750k
Venue: College football

Oddly, something Ashton Kutcher did while replacing Charlie Sheen in TV��s ��Two and a Half Men�� lands him alongside Sheen on our list. In 2013, the actor told Esquire magazine that he fronted a gambling syndicate and used his ��dumb actor�� persona to win huge sums of money betting on college football for half a season.

This was after he was already rich and famous!

“It was pretty fun,�� Kutcher told the magazine. “Then they (the sportsbooks) caught on.��

When asked to explain the syndicate��s winning strategy, Kutcher did his best: ��In football, you’re basically looking for numerical anomalies … It’s really complicated. You gotta know a lot of data points �� how this team played on various surfaces, in different weather �� a lot. But these guys could do it.��

Ben Affleck
Actor Ben Affleck plays a hand of blackjack with TV host Maria Menounos in this undated photo. (Image: denverpost.com)

4. Ben Affleck
2000-2001
Wins: $940K
Venue: Blackjack

According to the New York Post, actor Ben Affleck won $140K while playing blackjack with his pal Matt Damon at the Hard Rock Las Vegas and ��gave away every one of his chips to casino staffers �� tipping his dealers, waitress, and door boys as much as $5K.�� A year later, Affleck reportedly won $800K at the same casino ��while playing three simultaneous hands at $20K a pop.��

In April 2014, a cloud of suspicion formed over those earlier wins when the Hard Rock Las Vegas caught the future Mr. J-Lo counting cards. Because he was a celebrity, he was only banned for life from the casino’s blackjack table. (Standard practice is a ban from the casino itself.)

Affleck told Details magazine at the time: ��There were a number of casinos that said, ‘Hey, you can’t play blackjack here. We know you count cards. But, you know, you’re welcome to come, do whatever you want, see a show, have dinner. We’ll comp ya. Play roulette, we know you don’t play craps. But hang out, we still want your presence and business.'”

Card counting �� a method of using probability to predict the next hand �� is not technically illegal. But it does not make you popular with casino managers if you’re caught.

“I mean the fact that being good at the game is against the rules at a casino should tell you something about a casino,” Affleck said. “There’s a lot of hospitality, backslapping, when they think you’re gonna come in and dump money, and if they think you might leave with some money, it’s like, ‘You know what? Why don’t you try craps or roulette?'”

Charles Barkley gambling basketball
NBA great Charles Barkley claims he has lost $10M gambling during his life but doesn’t have a problem. (Image: nbahoopsonline.com)

3. Charles Barkley
2005
Loss: $2.5M
Venue: Blackjack

Charles Barkley most certainly did not follow his success as a basketball star with even greater success as a gambler. In a May 2006 interview with ESPN, the basketball Hall of Famer admitted losing $2.5M during six hours of blackjack one night a year earlier. He never identified which casino.

Barkley has admitted to losing a million dollars more than 30 times in his life and estimates his lifetime losses at $10 million.

��It��s stupid,�� the former Philadelphia 76ers and Houston Rockets star told ESPN. ��It��s a bad habit. I have a problem. But, the problem is when you can��t afford it. I can afford to gamble. I didn��t kill myself when I lost two and a half million dollars. I like to gamble and I��m not going to quit.��

In 2008, Wynn Las Vegas sued Barkley for $400K in gambling markers it extended him the year before. He paid off the debt as well as $40K in attorney fees.

Floyd Mayweather boxer
Boxing great Floyd Mayweather is one of the most daring (some would say reckless) sports gamblers in history. (Image: Instagram)

2. Floyd Mayweather, Jr.
Feb. 2, 2014
Loss: $13M
Venue: Super Bowl XLVIII

Boxing great Floyd Mayweather is alleged to have lived up to his nickname, ��Money May,�� in 2014. According to several internet sources, he bet $10.4M on the Denver Broncos to win the Super Bowl and $2.6M for them to lead at the half. These bets were so big, Mayweather allegedly had to place them with seven different agencies.

As most football fans remember, the Seattle Seahawks triumphed 43-8 over the Broncos, so Mayweather��s bet would have been lost. That��s if he ever placed it. The Las Vegas native, who is worth a reported $565M, never copped to placing it.

Between 2012 and 2015, Mayweather did post screen shots of his betting slips on his Instagram and Twitter accounts. Not surprisingly, most were for his winning bets. From there, we know he won $1M by betting $1.1M on the Oregon Ducks to beat the Arizona State Wildcats on Oct. 18, 2012. He also won $600K by betting $815K on the Denver Broncos to defeat the New York Jets by more than 7.5 points on Oct. 12, 2014. And a May 21, 2015, bet on the Golden State Warriors over the Houston Rockets netted him $200K before taxes.

Mayweather��s most notorious sports win would have been the payday he pocketed for placing $400K on himself to beat Conor McGregor in their Aug. 26, 2017, light middleweight bout. According to ESPN, Mayweather visited the M Resort to split the money between a bet on himself winning at -200 odds and the bout ending in under 9.5 rounds.

However, the frazzled sportsbook required time to sort out the legality of fighters betting on themselves. (The Nevada State Athletic Commission has no rules against it. However, fighters obviously cannot bet against themselves.) Mayweather reportedly got tired of waiting to place the bet and left the casino.

Pete Rose
Pete Rose’s wagering got him banned from baseball, and made him ineligible for its Hall of Fame, for life. (Image: Getty Images)

1. Pete Rose
1987
Bets: Somewhere between $104k-$520k
Venue: Baseball

When then-Cincinnati Reds manager Pete Rose wagered on 52 games in which his own team played in 1987, the bets ($2K-$10K) were small compared to the others on this list. Yet they were the most famous and costliest celebrity bets of all time. They led to Charlie Hustle��s lifetime ban from the sport and made him ineligible for election to the Baseball Hall of Fame.

“I bet on my team every night,�� Rose told ESPN Radio��s Dan Patrick and Keith Olbermann in 2007. ��I didn’t bet on my team four nights a week … I bet on my team to win every night because I love my team, I believe in my team.”

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