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Nevada Poker Tables Continue Folding Across Silver State, Casino Revenue Falls in February

The total number of Nevada poker tables will shrink once more whenever Monte Carlo closes its poker room on April 25 as part of a $450 million renovation which will eradicate the card game from the resort.

It’s just the latest telling sign that poker doesn’t come with the exact same attraction it once did.

Nevada poker tables continue to disappear completely from floors, as casino operators struggle to justify the revenue they produce in comparison to other gambling formats like slots and blackjack.

The number of Nevada poker tables has decreased by almost 30 percent over the last 10 years.

Poker’s heyday came after Chris Moneymaker won the World Series of Poker Main Event in 2003 for an $86 satellite entry. Their $2.5 million win revolutionized the card game and exploded its worldwide appeal.

Moneymaker outplayed 838 other entrants during his historic win. The following year, the prize was doubled and the total field eclipsed 2,500. The tournament continued growing, and with it, gambling enterprises in Vegas modified their gaming floors to support the influx of dreamers searching to make it rich and wannabe poker pros.

Across the continuing state, there have been 907 poker tables in 2007. Now a ten years later, that quantity will be reduced to simply 653 when the Monte Carlo closes its room.

Money Things

Of course, each square foot of the casino flooring is valuable estate that is real. Continue reading

Bicycle Casino in Southern California Raided by Federal Detectives

The Bicycle Casino is including another scandalous chapter to its notorious story. The Southern California cardroom and hotel outside of l . a . in Bell Gardens was raided by federal officials on Tuesday early morning, but law enforcement departments are remaining peaceful on the details of the operation.

Governor Jerry Brown (D), left, attended the ribbon cutting of the Bicycle Casino’s hotel expansion in 2015 alongside Bike Managing General Partner and CEO Hashem Minaiy. Two years later, the owners are now actually allegedly entangled in a federal investigation that is financial.

The raid will be carried away by the united states Department of Homeland safety, and its Immigration and Customs Enforcement (ICE). According to media that are local, the US Attorney’s Office, IRS, California Bureau of Gambling Control, and the Financial Crimes Enforcement Network (FinCEN) are involved.

ICE spokeswoman Virginia Kice said, ‘Because the warrant is under seal, we are not able to comment on the range or nature of the investigation.’

However, Fox 11 in Los Angeles says the sting is in reaction to alleged money allegations that are laundering the casino. All gambling was shutdown as investigators sweep the Bike, because it’s affectionately known.

Since 1996, FinCEN has required gambling enterprises to file Currency Transaction Reports for any customer transacting $10,000 or more in a single day.

Dirty Money Crackdown

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