Thursday, Aug 25, 2011 Online Poker Looks Good in AC, 888 Booms, Biker Bandit Sentenced
New Jersey revisits its intrastate gaming bill, 888 Poker booms in the face of declining traffic and the Bellagio Biker Bandit now faces up to 11 years in prison for his brazen robbery.
Online Gaming Bill Reintroduced as Atlantic City Revenues Drop
Reports came out this week showing that revenues for gambling in Atlantic City, NJ have dropped $340 million in July compared to July of 2010, a 6.5 per cent drop year over year.
So far in 2011, revenues in Atlantic City are down 6.9 percent from 2010 when the city pulled in $3.57 billion in revenue - a far cry still from the $5.2 billion the city saw in 2006.
This report comes at the same time that New Jersey State Senator Raymond Lesniak is set to reintroduce his intrastate online poker legislation bill on Thursday.
According to Lesniak, 1,900 jobs could be created in N.J. and as much as $250 million could be realized in net profits.
Governor Chris Christie vetoed the same bill earlier in the year after the legislature passed it. Lesniak is confident he can negotiate some type of compromise regarding the bill.
888 Poker Booms as Overall Traffic Dips
According to the latest numbers from Pokerscout.com, online poker traffic as a whole is down by around 24 perccent for the year.
While traffic is down for the year, many sites have seen significant growth.
888 Poker has seen a 124% jump in traffic, followed by the Merge Gaming Network at 91%. Bodog is up 70% for the year.
Full Tilt Poker remains shut down as the company tries to find an investor to help revive the company. They recently ended their exclusive negotiation period and opened bidding for the company to all comers.
The Cereus Network has seen a 97% drop in traffic since Black Friday with fewer than 100 cash game players at the tables during peak times.
Bellagio "Biker Bandit" Sentenced Up to 11 Years
Back in December, Anthony Carleo stole $1.5 million in chips from the Bellagio in Las Vegas.
On Tuesday, Carleo was sentenced for that crime and will serve 3 to 11 years in prison.
Carleo was arrested in February when he tried to sell cranberry-colored $25,000 chips to an undercover Vegas police officer.
Carleo also admitted to the undercover cop that he had already robbed the Bellagio.
He entered a plea bargain deal in June that saw eight felony counts reduced to armed robbery and assault with a deadly weapon.
Carleo will be sentenced on August 25th for stealing over $18,000 from the Suncoast casino on December 9th. He will be sentenced on the same charges as in the Bellagio heist.
Judge Michell Leavitt chose to delay making a decision on whether Carleo will have to pay restitution on the $1.5 million in chips stolen until the Suncoast sentencing has concluded.