Mazen Abdallah Leads 333 Players into WPT Seminole Rock ‘N’ Roll Poker Open Day 2

Mazen Abdallah snatched the chip lead late into Day 1B to lead 333 hopefuls into WPT Seminole Rock ‘N’ Roll Poker Open’s next stage

Poker action is heating up at Seminole Hard Rock Hotel & Casino Hollywood where the latest edition of the WPT Seminole Rock ‘N’ Roll Poker Open is currently taking place. The two starting flights of the $3,500 event are now complete and figures show that 333 survived through Days 1A and 1B to advance into the second day of action at the host casino.

This year’s WPT Seminole Rock ‘N’ Roll Poker Open drew a record-breaking field of 898 entries, of whom 417 registered through Day 1A and the other 481 came into the event through Day 1B.

Mazen Abdallah, a player from Houston, Texas, will lead the remaining survivors into today’s Day 2. The player accumulated a stack of 469,500 on Day 1B to come atop the temporary leaderboard. Abdallah was also the only player to pass the 400,000 mark. He secured his chip lead late into the day. The player eliminated two fellow contenders on two consecutive hands to multiply his stack and emerge as the chip leader.

If Abdallah makes it to the paid positions, he will secure his largest ever cash from a live tournament. Speaking of money, the event’s field smashed the $2 million guarantee to generate a prize pool of $2,873,600. The money will be split into payouts for the top 113 finishers, min-cashes sitting at $5,845. The bubble is on pace to burst at some point today.

The six final tablists will each secure a min-cash of $103,310. And awaiting the champion is a top prize of $504,820 as well as a seat into the season-ending WPT Tournament of Champions.

Notables Still in the Race for the Title

No other player passed the 400,000 mark on Day 1B and no other player even passed the 300,000 mark. However, there were a number of notables who made it through the day, including Caufman Talley, Vinny Pahuja, Jeff Trudeau, and Nick Yunis. All four bagged more than 250,000 worth in chips at the end of the second starting flights.

They will be joined by the likes of Day 1A chip leader Ajay Gnanasambanthan, and former WPT champions Anthony Zinno, Phil Laak, Jonathan Jaffe, and Sam Panzica, who all locked a seat into Day 2 through the tournament’s first starting flight.

Day 2 of the tournament is scheduled to take place today starting at noon local time. The remaining players will play ten 60-minute levels, during which the money bubble is expected to burst. The Action Clock will be introduced one table from the bubble to add extra thrill to those battling for the WPT Seminole Rock ‘N’ Roll Poker Open title at the host casino.

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Teddy Sagi Offloads Entire Stake in Playtech

The Israeli billionaire has sold his entire stake in the gambling company as US activist investor has been urging Playtech to sever ties with its founder

Israeli businessman Teddy Sagi has sold out of his holding in online gaming provider Playtech, a company he founded himself nearly two decades ago.

Through a placement by Brickington Trading, Mr. Sagi has sold around 15.2 million ordinary shares, equivalent to 4.8% of the company. Brickington Trading is a wholly owned subsidiary of Globe Invest, a trust of which the Israeli billionaire is the sole beneficiary. With the latest sale of Playtech stock, Mr. Sagi has offloaded his entire holding in the online gambling company and has put an end to his involvement in it. He was quoted saying that he wishes Playtech “every success in the future”

Earlier this month, the businessman sold nearly 5 million shares, equivalent to 1.6% of the London-listed company’s issued capital.

Mr. Sagi founded Playtech in 1999. The company specializes in the provision of solutions for the online gambling industry. Playtech floated on the London Stock Exchange in 2006. Since its flotation, it has grown tremendously through acquisitions. The company currently employs more than 5,000 people and has offices in 17 countries. With estimated market cap of around £1.4 billion, Playtech is member of the FTSE 250.

The company has had a bit of a hard time lately as its shares have halved in price over the past year on the back of two profit warnings.

At a price of 450 pence per share, Mr. Sagi has collected the approximate amount of £68 million from the sale of his final 4.8% stake in the company. Prior to Playtech’s flotation, the businessman owned more than a half of the company. However, he has sold down his controlling stake in the company bit by bit over the past several years, saying that he wants to diversify his business portfolio and pursue new endeavors, primarily in the real estate and technology sectors.

Mr. Sagi has recycled the proceeds from the sale of Playtech shares to buy London’s Camden Market and Dutch developer of shared office spaces for startups and entrepreneurs Brack Capital, among others.

Investor Pressure

News about Mr. Sagi cutting ties with Playtech emerge shortly after The Times reported that American activist investor Jason Ader of SpringOwl Asset Management has penned a letter to the directors of the gambling technology giant to express his concerns about the Israeli businessman’s involvement.

According to Mr. Ader, Mr. Sagi’s colorful past, has had a negative impact on Playtech’s value and the company’s ambitions to expand to the United States. The activist investor has referred to the fact that Mr. Sagi was sentenced to prison in his homeland back in his early twenties on insider trading charges.

It emerged earlier this year that Mr. Ader has quietly built a 5% stake in Playtech. The investor is known for playing a key role in GVC Holdings’ acquisition of fellow online gambling operator bwin.party in 2016.

It is believed that Mr. Ader is now pressing for Playtech to dispose of its financial businesses and focus on its gaming operations. In previous comments on his involvement in the gaming tech company, the US investor has said that Mr. Sagi still being part of the company was “a negative” for it and that he did not have “a sense that the future of the company includes Teddy Sagi.”

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MGM, Wynn tamp down Boston casino intrigue

Executives for MGM and Wynn are tamping down speculation the companies are quietly in talks over Wynn's Boston-area casino. MGM Resorts International CEO Jim Murren said today it would have to be an "extremely unique situation" for officials to ...

Sports Betting Arrives in Rhode Island in Historic Year for US Gambling Industry

Rhode Island becomes eighth state to offer legal sports wagering in an eventful week for the US betting industry

Sports betting is coming to Rhode Island starting Monday, November 26, at Twin River Casino in Lincoln. The state will thus become the nation’s eighth one to be offering legal sports gambling and New England’s first one in a landmark year for the US gambling industry.

The Rhode Island General Assembly enacted a sports betting law back in June, and legal wagering services were expected to commence by October. However, delays of different nature pushed back the start of sports betting to the end of November.

The announcement about the official start of sports betting in Rhode Island arrived as the latest big news in an eventful week for US sports betting. Pennsylvania’s first wagering facility opened doors a few days ago. A new sportsbook was launched in West Virginia, as well. The state’s first legal betting operations commenced in late August.

Twin River Casino officials have previously said that the property will begin offering sports betting to its customers around Thanksgiving. As it can be seen they have almost lived up to that promise.

Sports betting operations will commence at the casino at 3 pm local time on Monday, when House Speaker Nicholas Mattiello, Senate President Dominick Ruggerio, and Twin River Worldwide Holdings Chairman John Taylor Jr. will place a ceremonial first bet.

Wagering services will initially be provided at a temporary facility on the third floor of the casino complex. Officials have called that temporary facility Phase 1. Customers will be serviced there while the main sportsbook is under development.

At first, gambling customers will be able to place wagers on US-based games. International competitions such as English Premier League and other European leagues are expected to be added later. Patti Doyle, a spokeswoman for Twin River Casino, has also said that “more exotic” bets will also be available in the betting lounge at a later date.

Under Rhode Island’s newly adopted sports betting law, gamblers will only be able to wager at physical sportsbooks. Online and mobile betting were not included in the state’s sports gambling framework.

Estimated Economic Impact

According to estimates, the state will collect $11.5 million in tax revenue from sports betting through the end of the fiscal year on June 30. The above-mentioned amount is significantly less than the original projection for tax revenue of $23.5 million that was based on the previously announced October 1 launch of Twin River Casino’s sports betting operation. The state expects to get $27.3 million in tax revenue next fiscal year.

Under Rhode Island gambling laws, legal sports betting operations are taxed at 51% on betting revenue.

According to projections, Rhode Island’s two Twin River casinos will annually handle $814 million in wagers. Twin River Casino in Tiverton is expected to launch its sportsbook sometime in December. The Tiverton casino complex opened doors to the public on September 1. Aside from an 85,000-square-foot gaming floor, it also features an 84-room, three-story hotel, and multiple entertainment options.

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Nevada regulators approve deal with sportsbook operator

Nevada gambling regulators have approved a settlement with a troubled sportsbook operator that has admitted to taking unlawful bets and making inaccurate payouts. The Nevada ...

Next Week’s Best Poker Events (November 26-December 2)

A new week is almost upon us to bring tons of new opportunities for poker players to challenge their skill and luck at exciting poker destinations. Some of the best casinos in Sydney, Manila, and Las Vegas will play host to several major festivals over the week and those will feature massive guaranteed prize pools, prestigious trophies, and huge amounts of fun and thrill for everyone who enters them.

Here is a bit more information about where next week’s best tournament poker action will be offered and how interested players can join poker festivities for a chance at big prizes and non-monetary additions to their collection of poker accomplishments.

WSOP International Circuit – Sydney

Sydney’s The Star Casino will play host to the next WSOP International Circuit stop. The popular series will bring a handful of gold rings Down Under and those will be awarded during a festival that will take place from November 27 through December 17.

The schedule of the next International Circuit stop will include 15 tournaments, with those featuring different formats and different buy-ins. And some of the events will offer attractive guaranteed prize pools to lure players into their fields.

The thrilling Sydney festival will kick off with a A$500 Opening Event with four starting flights and two more days of play and a guaranteed prize pool of A$600,000.

While it should be said that all events offer attractive opportunities for players, Event #7: Main Event will certainly be the one to draw the biggest amount of attention. The tournament will feature four starting flights and three more days of play starting December 7 and running all the way to December 17. Interested players will have to pay a A$2,200 buy-in fee for a chance at the lion’s share of the A$2.1 million guaranteed prize pool and the title. The Main Event winner will also secure a seat into the 2019 Global Casino Championship.

The A$550 Mixed No-Limit Hold’em/Pot-Limit Omaha (starting December 10), the A$20,000 High Roller (starting December 12), and the A$5,000 Challenge with a guaranteed prize pool of A$1 million (starting December 5) are few of the other events that will take place within the upcoming WSOP International Circuit Sydney stop.

APT Finale Philippines

The next APT festival, this year’s final one, is set to take place November 27-December 6 at the glitzy Resorts World Manila casino resort in the capital of the Philippines. The festival will feature 16 different tournaments, special events, satellites, and tons of quality poker action and excitement.

A PHP10,000 Opening Event with a guaranteed prize pool of PHP1 million will kick off poker festivities at the host casino. The PHP50,000 Main Event is slated to start on the second day of the festival and to run through December 2 when the final table will take place. The tournament features a guaranteed prize pool of PHP10 million.

December 3 will see the start of the Championships Event. The PHP150,000 buy-in with a guaranteed prize pool of PHP10 million will run through December 6 to determine the champion of the 2018 season of the popular Asian poker series.

Wynn Signature Series

Wynn Las Vegas is gearing up preparations to welcome players for its Wynn Signature Series. The event will take place from November 28 through December 10 and will feature 11 tournaments. The festival will award more than $700,000 over its course with guaranteed prize pools of between $20,000 and $250,000.

A $600 buy-in No-Limit Hold’em event starting November 24 will be the highlight tournament. With three starting flights, played over three separate days, and an additional day of play, it will be the longest tournament of the series. It will feature a guaranteed prize pool of $250,000.

A three-day $600 No-Limit Hold’em with a guaranteed prize pool of $150,000 will too be part of the poker festivities taking place at the the Strip casino resort. A $5,000 SURVIVOR event with a guaranteed prize pool of $50,000 and a $400 Pot-Limit Omaha are too among the events included in the schedule of the festival.

WPT Five Diamond World Poker Classic

It is that time of the year when the Bellagio in Las Vegas opens its doors to welcome the WPT for one of the most exciting festivals on its annual schedule. The WPT Five Diamond World Poker Classic is set to begin on November 29 and to wrap up on December 15.

The festival will feature 19 tournaments and will kick off with a $1,100 No-Limit Hold’em Series event. It will also feature three $10,000 buy-in Pot-Limit Omaha events, three $25,000 No-Limit Hold’em High Rollers, and the very special $100,000 No-Limit Hold’em high roller tournament.

And of course, the five-day $10,400 Main Event will bring action at the Bellagio to a close. The tournament will run from December 11 through December 15. Ryan Tosoc won last year’s edition of the Main Event for a prize of nearly $2 million. It is interesting to note that the player finished 2nd in the 2016 edition of the tournament.

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MGM, Wynn tamp down Boston casino intrigue

Executives for MGM and Wynn are tamping down speculation the companies are quietly in talks over Wynn's Boston-area casino. MGM Resorts International CEO Jim Murren said today it would have to be an "extremely unique situation" for officials to ...