As per officials of the Casino, they revealed that a portfolio comprising of traditional supermarkets and hypermarkets are to be sold to Fortress Investment Group.

The company further gave another statement stating that it will be receiving an initial 392 million euros from the sale in the first half of 2019 and shall receive the additional 150 million euros in the next couple of years.

As per reports, through this deal, the company would be able to achieve its target set out last year of 1.5 billion euros earned through asset sales. Furthermore, Casino also said that it would examine further steps to cut its debt.

According to Standard & Poor back in March 2016, the Credit rating of Casino had a massive cut leading to a 30 percent drop in its shares in 2018.

Additionally, according to the resilient sales figures published back in the previous week, it shows that the stock has risen nearly 10 percent in 2019.

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Significantly, as per reports, the original decision taken by Victoria was against the hosting a casino in the city, going as far as to draft a motion to inform B.C Liquor and Gaming of the decision.

Although with the appointment of a newly introduced amendment by councilor Marianne Alto, it has reignited some fuel to the matter. 

Reportedly her proposal has forced the council to reconsider the possibility of the casino bid made by a local First Nation.

In a statement councilor, Marianne Alto said, “In the spirit of the commitments that we’ve made around partnership, and support, and reconciliation that’s a door we shouldn’t close until we’ve had the conversation with them.”

Alto further added, “I think we need to make room for the nations to make their own choices.”

As per reports, The vote on the motion and the amendment shall be done by the Council on Thursday evening.

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As per reports, the department’s criminal division which prosecutes illegal gambling prompted the reversal.

According to a 23-page opinion issued by the department’s Office of Legal Counsel dated Nov. 2 2018 and was made public on Monday, January 14^th.

T

he opinion issued nearly seven years ago stated that under the 1961 Wire Act it only imposed a ban on sports gambling which was a clear misinterpretation of the statute.

According to the Justice Department of USA, the government’s view of the law scope may most likely be challenged as the new reading of the law will most likely be tested.

Additionally, the new law shall most probably also affect casinos that offer online gambling as well as states that began selling lottery tickets online after the 2011 opinion.

Back in 2017, largely due to a coalition being backed by billionaire executive Sheldon Adelson, it motivated the Justice Department to reconsider its decision taken in 2011 that cleared the way for states to permit online gaming.

The post The US Justice department declares that all betting forms are illegal including sports betting appeared first on GamblersNews.

Earlier today, Tuesday, January 15^th, New Jersey regulators reported that they have begun investing into the matter.

As per reported by The New Jersey Division of Gaming Enforcement, it has begun reviewing the DraftKings tournament that marks the very first high profile tournament ever since the legalization of sports betting in New Jersey.

As per reports, participants wishing to bet on the two NFL playoff games held on Sunday were barred from doing. Before the Saints-Eagles game could commence, The Patriots-Chargers game ended, due to which several bettors could not receive their winning from the early games in time to wager on the second contest.

Sources close to the matter have reported that DraftKings has issued an apology for the situation however it is obliged to follow its own rules.

The post The First Major New Jersey gambling tourney since its legalization ends in a $1 million dysfunction appeared first on GamblersNews.

As per reports, on Wednesday, January 9^th, approval of the transfer of power of Presque Isle Downs & Casino, which was previously operated by Eldorado Resorts Inc. since 2014 was unanimously given by The Pennsylvania Gaming Control Board.

Back in 2018 Churchill Downs Inc., of Louisville, Kentucky, reached an agreement to the $178.9 million purchase of the Presque Isle Downs racetrack and casino.

Speaking on the announcement, Churchill Downs Chief Executive Bill Carstanjen said, “Presque Isle will give us a foothold in Pennsylvania and the opportunity to participate in the sports betting and online gaming market throughout the state.”

Carstanjen further added, “We are excited about welcoming Presque Isle and its employees to the Churchill family.”

Presque Isle Downs was officially launched in 2007 as a property of MTR Gaming, which then merged with Eldorado back in 2014. The Gaming and Casino service provider is known for offering approximately 1,600 slots, 32 table games, and a poker room, along with conducting live thoroughbred racing.

The post Churchill Downs Inc officiates the purchase of Presque Isle Downs and Casino appeared first on GamblersNews.