Italian Vegas

Turbulent is probably the best word to describe this month.   Fortunately its finished on a reasonable note after an ok last week or so.   Finishing up early tonight as can hardly keep my eyes open so definitely not in the mood.   I played a fair bit earlier anyway so not an issue.  I know i said i would write down figures to work out accurate figures but i cant be bothered to get pen and paper

When one looks at the relatively short history of Texas hold’em, the publication of the August 16, 1968 issue of Life magazine represents a fairly significant moment.

Just so happens then-presidential candidate Richard Nixon, considered by many to have been the most skilled poker player among all the U.S. presidents, was on the cover that week along with his wife, Pat, and Spiro and Judy Agnew. There is nothing about Nixon’s poker playing in the issue, though, as that part of his biography — including how he’d actually funded his first Congressional campaign in 1946 with poker winnings earned while in the Navy during WWII — was hardly being highlighted as part of his story.

Rather, it’s a short article within by A.D. Livingston titled “ ‘Hold Me’: a wild new poker online game and how to tame it” that marks an important moment in hold’em’s history.

“This is poker?” begins the introduction to Livingston’s piece, referring incredulously to a nearby photo (see below). “The decorous mob scene below looks more like a group therapy seance down at the poker-chip factory. Yet it really is the fre online game in a wholly new form.”

As will Livingston, the intro refers to the game online by several names, including “Hold Me Darling,” “Tennessee Hold Me,” and “Texas Hold ‘Em.” Livingston’s piece is interesting because it speaks of the virtual game as a relatively new phenomenon, addressing Life’s mainstream audience as mostly consisting of readers who have never heard of hold’em.

“I believe the free online game is a major event in the history of poker,” asserts Livingston, “and I predict it will replace stud for the rest of the century.”

Livingston’s piece begins with him describing a hand he played while trying to learn the virtual game. Preflop betting caused him to become timid and fold to a professional player’s pocket queens. He admits he didn’t know the odds at the time, and a later session of trying to work them out at home leads him to conclude “it was really a mathematical toss-up.”

Livingston had to do such work himself because none of his poker books included any mention of the free online game.

“None of my books covered Hold Me or any fre online game like it,” he says. “Nowhere could I find figures on the odds.”

The rest of his short piece spends some time speculating about why hold’em (in his view) is about to take over as the most popular poker variant — more action (than stud or draw) is the big reason — then concludes with a discussion of another hand involving the pro to whom he’d folded before.

In that hand, a huge three-way pot develops in which the pro somehow manages to fold pocket sevens on the river with the board showing 4-6-7-6-5, having correctly surmised one of his opponents had quad sixes. The analysis is a little specious, but we’re told the pro was able to use both his positional advantage and a knowledge of his opponent to surmise he was beaten. Meanwhile, the third player — whom Livingston calls a “monkey” — calls off his stack with a straight.

The piece ends with Livingston describing how he’d contacted a friend in Colorado to see if he had heard of this new online game called “Hold Me Darling.” “‘Never heard of it,’” his friend says, adding “‘but a new free online game has really caught on. High Hold ’Em. Each player gets two cards down….’”

It’s the same virtual online games, it turns out, being played with a different name.

I take Livingston’s piece — which is available online, if you’re curious — as strong evidence that hold’em’s history really only begins around the 1950s or thereabouts, not earlier in the century as some have claimed. I brought this matter up back in the spring in a post titled “Hold’em’s History Makes a Good Mystery.”

While the online game was certainly around for some time prior to 1968, it’s having different names in different places suggests that while it was gaining in popularity, the free online game was — as Livingston seems to assume — still quite new to most. Its absence from poker books (most of which would have been books of rules, not strategy texts) also suggests a later start date — say mid-century — for hold’em.

All of which makes me appreciate even more Livingston’s prediction that hold’em was going to become the free online game of the late 20th century.

Nice call, sir!

Profiles

Crown Online Casino Crown Limited James Packer Kerry Packer World Online Casino Directory Free Online Casinos Media Man

Crown is counting on on a $1.5 billion capital expenditure program at its Australian land based casinos to help lift earnings in the second half of 2012 and beyond to help offset the impact of increased competition on Australian soil and offshore.

The James Packer-backed company reported a 15 per cent increase in annual net profit to $335.9 million, struck on a 3 per cent increase in revenue to $2.41bn.

It declared a final dividend of 19c a share, 50 per cent franked.

However, the profit increase was largely underpinned by a better-than-expected result from the Macau-based Melco Crown Entertainment (MPEL) joint venture, in which Crown holds a 33.4 per cent stake.

Crown’s actual share of MPEL’s bumper earnings was $34.9m for 2011, normalised to $19.2m when taking into account the win rate on VIP program play, compared with Crown’s $69.5m share of MPEL’s loss last year.

Macau’s year-on-year gaming revenue growth in the seven months to July was 45.2 per cent.

But results at Crown’s Australian casinos – Crown in Melbourne and Burswood in Perth – were largely flat in 2011 as they battled increased competition from new casinos in Singapore, softening consumer sentiment and refurbishment disruptions.

“We expect the impact of Singapore, we will continue to feel that, and obviously it is a question of how we can replace that business with new business out of China and new business out of Singapore,” Crown chief executive Rowen Craigie said yesterday.

Earnings before interest, tax, depreciation and amortisation at Burswood was $176.2m in 2011, down from $183.5m a year earlier. Mr Craigie said Burswood’s earnings would remain under pressure until the completion of the refurbishment program of the casino’s VIP facilities, which is due by Christmas. “Burswood is playing in this virtual game with one hand tied behind its back, given Macau and Singapore have largely completed their cap-ex programs. Burswood is yet to complete theirs,” Mr Craigie said.

Analysts yesterday were generally happy with the group’s result.

“We view Crown’s FY11 slightly ahead of consensus result as sound,” Deutsche Bank told clients. However, Crown shares closed 2.7 per cent lower at $7.87.

Mr Craigie said main gaming floor revenue growth for the start of the new financial year to date in the group’s Australian casinos was 3.8 per cent, and non-gaming revenue was up 7.4 per cent.

This is in contrast to Echo Entertainment, owner of Sydney’s Star City casino and Jupiters casino on the Gold Coast, which last week reported revenue growth of 8 per cent in the year to date. Echo is confident a landmark $1bn facelift for Star City will significantly boost revenues in the second half of next year, but Mr Craigie played down the competitive threat to Crown.

Crown also revealed it would buy back up to 30 million shares or 4 per cent of its issued equity.

The buyback is expected to lift Mr Packer’s 43 per cent stake in Crown.

Crown continues to hold a 4.9 per cent stake in both Echo Entertainment and Tabcorp.

The stakes were acquired before the Tabcorp demerger.

Analysts said the announcement of a buyback indicated Crown had no intention to move on either company.

“Crown has stated it has no intention of increasing its holding in either, and the announcement on the buyback would seem to confirm this,” Citi analysts said.

Crown says it intends to appoint former Howard government minister Helen Coonan as an additional independent non-executive director.

Crown feels heat from Singapore…

Free Online Casins operator Crown Ltd says it is feeling the effect of competition from new casinos in Singapore.

But the company may be in a better position when extensive refurbishments of its Melbourne and Perth casinos are completed.

“We expect to continue to feel the impact of Singapore, and it’s a question as to how we can replace that business with new business out of China and also new business out of Singapore,” Crown chief executive Rowen Craigie said yesterday.

“We have programs in place to pursue both those objectives.”

Crown yesterday reported a 14.9 per cent rise in annual net profit to $335.9 million for the 12 months to June 30, boosted by a $34.9 million gain from its 33 per cent stake in casino operator Melco Crown Entertainment in Macau.

The Crown casino in Melbourne and Burswood casino in Perth had a mixed performance as operations continued to be disrupted by renovations.

Crown has spent about $1.5 billion in capital expenditure from 2007 to 2011 and will spend about $540 million on Crown and Burswood in the 2012 financial year.

Crown also said that in the second half of the 2010-11 financial year, a few areas of its Australian operations had been affected by a softening in consumer sentiment.

Both casinos were affected by competition from two new casino-resorts that opened in Singapore.

Burswood casino experienced a 32.3 per cent fall in revenue from VIP gamblers as Burswood’s new VIP facilities were not yet finished, and Asian high-rollers decided to carry out their betting in Singapore.

Mr Craigie said Singaporean gamblers now had options of close-to-home casinos and did not have to travel to Macau or Australia to gamble.

“That needs to be factored into the business, going forward, but the good news is the VIP market continues to grow strongly, courtesy of China,” Mr Craigie said.

He said that it had to borne in mind that the refurbishments in Melbourne and Perth were still to be completed.

“So Perth is playing in this virtual online games with one hand tied behind its back,” Mr Craigie said.

He declined to provide estimates of Burswood’s future VIP revenue but said: “I think you could say we’re looking forward to the Burswood VIP (refurbishment) program to be completed.

“If the Burswood VIP assets are completed by Christmas, and we think they will be, I probably wouldn’t have to be Einstein to suggest that Burswood, going forward, is probably going to do better than Burswood has in the last 12 months.”

Mr Craigie said the 2011 results reflected a “reasonable” performance from the Australian casinos in the non-VIP businesses.

Main-floor gaming generated revenue growth of 5.6 per cent.

Non-gaming revenue grew by 10.6 per cent, benefiting from the first full year of operation if the Crown Metropol hotel in Melbourne.

Mr Craigie said the Melco Crown Entertainment joint venture in Macau continued to improve its performance and was the major contributor to the profit growth of the group.

Crown said that in trading across both its casinos from July 1 to August 18, main-floor gaming revenue had grown by 3.8 per cent and non-gaming revenue was up 7.4 per cent.

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It been a roller-coaster as per usual and I have failed to make what I would have liked. I was aiming to win around 40 BIs in August but have fallen well short.

It started so well being up close to 20 BIs within the first week so I thought it was on for the 40 BIs and maybe my first appearance in the UGL Top 50 for the month but then I lost it all, then won it all back, then lost a little….. blah blah blah

Anyway…..

The final numbers for August are as follows:

125,000 Hands Played
20,281 VPPs

+$646 (Cash Game Winnings)
+$23 (Online Tourni Winnings)
+$148 (Live Cash Winnings)
+$25 (Stake Swap)
+$1,500 (200k VPP Bonus)
——————————————————————–
+$2,341 (Total Month)

The Ytd numbers as at the end of August are as follows:

909,000 Hands Played
222,137 VPPs

-$1,214 – Jan
+$1,075 – Feb
+$722 – Mar
+$4,766 – Apr
+$3,278 – May
+$415 – Jun
+$1,334 – Jul
+$2,341 – Aug
——————————————————————–
+$12,717 (Total YTD)

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The Star Star City Online Casino Echo Entertainment Tabcorp Holdings World Free Online Casino Directory Free Online Casins Media Man

The Darling, Sydney’s newest hotel, will breathe new life into the Sydney hotel landscape when it opens in October 2011. Nestled on the edge of Sydney harbour, The Darling will exemplify attention to detail, making this imaginative gem an indulgent and relaxing experience. The boutique accommodation will boast panoramic views of the city skyline, Harbour Bridge and out to the Blue Mountains.

The Darling will include 171 stylish rooms and suites, with the top floors dedicated to the ultimate in luxury, featuring two bedroom penthouse suites. The suites, uniquely designed by renowned LA designer, Lawrence Lee, feature floor-to-ceiling Sydney harbour views, bespoke furniture, fireplaces, media rooms, butler service and a private VIP arrival.

The Darling is a key feature in the $860 million refurbishment and extension of The Star, transforming it into a one-of-a-kind entertainment destination and a strong addition to Sydney’s overall leisure landscape. The entire complex will be re-orientated to face Darling Harbour, plus will introduce over 20 new bars, cafes and restaurants, a shopping area and a fully refurbished casino when it re-opens towards the end of the year.

The Darling has been designed as a stand-alone hotel, with its own arrival experience, amenities and alluring personality. It is the first five-star new build hotel in Sydney since the 2000 Olympic Games. Built in addition to the existing hotel and apartments, The Darling will bring the total rooms and suites at The Star to over 650 across three towers.

Introducing Drew Schlesinger

The new hotel General Manager, Drew Schlesinger, was hand-picked to manage the new hotel, based on his experience and success of opening and managing landmark hotels around the globe including the InterContinental at New York Times Square, The Borgata Hotel Free Online Casino & Spa and The Water Club in Atlantic City and the Mondrian Hotel Los Angeles.

“Our philosophy of The Darling is to take every aspect, whether it is a water glass or a coat hanger, and pay close attention to its form and function. From the coloured, soft coat hangers, to the hand-made drinking glasses in guest rooms. From the Egyptian cotton thread count bed sheets to the quality of the mattresses,” Drew explained.

“The architecture and design is sleek with subdued hues, yet the ambiance is warm and inviting – and there’s certainly nothing modest about our plush comforts. The spa will round out the experience and be a welcome addition to Sydney,” he added.

Spa and Restaurant

A luxurious day spa with 16 private rooms is set to deliver pampering to the highest levels. An extensive array of Asian and European inspired treatments will feature at the spa, including an indulgent hamam, which is a Turkish variant of a steam bath, sauna or Russian Bath, distinguished by a focus on water.

The spa will be run by experienced international spa operator, Jeanette Haua. Jeanette’s experience includes managing Shangri La CHI spas in Mactan, Boracay and Manila in the Phillipines, plus spa experience in Fiji and Turkey.

The hotel will also be home to a stunning, contemporary Japanese restaurant called Sokyo, from Chase Kojima, formerly with Nobu restaurants, delivering an exciting and unexpected menu.

Luxury Retail Offering

A sophisticated new retail area will feature some of the leading luxury brands, including Chanel Fragrance and Beauty Boutique, Gucci and Bottega Veneta. Boasting 5,500m2 of floor space, the upscale retail space will be conveniently located between the hotel, refurbished casino, restaurants and entertainment venues.

Other features of The Darling include:

· An outdoor custom designed pool area with a deck, cabanas and bar.

· Access to the 20 new restaurants, bars and cafes featuring renowned Australian and international chefs including David Chang, Teage Ezard, Stefano Manfredi, Adriano Zumbo, Flying Fish & Chips and Golden Century.
· Access to the new retail collection including the following brands:

o G Star Raw, Calvin Klein Jeans, IM lingerie, Chanel Fragrance and Beauty Boutique, Salvatore Ferragamo , LK Jewellery, Gucci, Bottega Veneta , Moda Emporio

Reservations for The Darling will start from August 2011, on 1800 800 830. The Star will open its new bars, restaurants and retail collection from September whilst The Darling opens in late October 2011.

For further information, please visit www.thedarling.com.au

Notes to Editors

Room features:

- King and double/double size beds plus pillows designed exclusively for The Darling

- Kitchens located in penthouse suites and spa tubs in selected suites

- Sheets – 400 thread count Egyptian long-staple cotton throughout

- High Definition HD LED TVs and cable TV with on demand features

- Latest in-room entertainment centre (iPod, radio etc)

- State of the art telecommunications systems with conference and speaker capability with fibre optics and IP TV’s.

- Private/direct line access availability to specific rooms and data port connections for modem/fax hook ups

Drew Schlesinger- Bio

With 34 years of experience, Drew has served as General Manager and Director of Operations in major metropolitan cities, including New York City, Los Angeles, Philadelphia and Atlanta. Most recently he was the General Manager for the InterContinental at New York Times Square.

Drew has also managed operations of the The Borgata Hotel Online Casino & Spa and The Water Club in Atlantic City; managed the pre-opening and grand opening of 70 Park Avenue Hotel, The Kimpton Hotels & Resorts’ first hotel in New York City; and served as General Manager of Mondrian Hotel Los Angeles, an Ian Schrager Hotel.

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And the bad:
:: They still don’t have their license and can’t operate.
:: Six potential buyers have taken a look–and none of them have acquired the company (for varying reasons).

Sounds like an excruciatingly boring version of, say, the Super Friends or Justice League of America or other comic book/cartoony teams of superheroes, doesn’t it? With deadeningly dull super powers, too.

Creating compelling agendas faster than a speeding bullet! Formulating and passing along recommendations more powerful than a locomotive! Untangling knotty procedural questions with flawless applications of Robert’s Rules in a single bound!

Once again, online poker players in the U.S. find themselves scratching their heads over our government’s legislative machinations, trying to sort out what exactly our fearless leaders are up to now. This time the focus is upon this new Joint Select Committee for Deficit Reduction — a.k.a., the “super committee” — that was created as part of the resolution of that whole “debt ceiling” crisis earlier this month.

The 12-member, bipartisan committee was created in order to discover both places to cut and potential revenue sources in order to reduce the budget by a hefty $1.5 trillion. The group has a short time to formulate recommendations, having to pass them along to Congress by November 23. The House and Senate will then have just one month to vote “up or down” on what the super committee has given them, with no amendments or filibusters allowed.

Supporters of licensed and regulated online poker in the U.S. believe it is possible that the super committee might include some form of internet gambling legislation in its recommendation. If such were to happen — and Congress were to approve the committee’s recommendations — that would speed up the process by which Americans could get back online to play poker, making such happen much more quickly than via the usual, laborious legislative process of introducing a bill (such as we’ve seen Rep. Barney Frank try multiple times, or the more recent “Barton bill”), getting it through committee, having the House and Senate both vote in favor, and then finally having the president sign it into law.

Some are pointing to various gestures made by Senator Majority Leader Harry Reid (D-NV) (who is not on the super committee), the newfound interest in internet gambling of chief UIGEA-architect Sen. Jon Kyl (R-AZ) (who is a member), and the significance of various lobbying efforts and other noise around Capitol Hill thought to suggest the time is ripe for finally entertaining online gambling. (Here’s a summary of various “circumstantial” evidence that regulating online gambling may be something considered by the super committee.)

Last week Rich Muny, VP of Player Relations for the Poker Players Alliance, appeared on the Two Plus Two Pokercast (the 8/22/11 episode) to say he was “as enthusiastic about this as I’ve been since this [fight to license and regulate online poker] started,” calling the super committee “a golden opportunity” to get some sort of legislation passed.

All of which perhaps sounds like something might happen here (and soon). Still, I can’t help but remain somewhat guarded — if not dubious — about it all, for a couple of reasons.

One has to do with the current political climate in the U.S. The fast-approaching presidential campaign seems to be highlighting so-called “moral” issues more and more, with (sometimes) related matters of faith getting mixed in frequently, too. And, as Barney Frank once pointed out in one of those House Financial Services Committee meetings, “there is a moral disapproval of gambling” among many legislators as well as those whom they represent.

I might be wrong, but it feels as though today supporting online gambling — even in the context of (heroically?) attempting to alleviate the country’s budgetary woes — is less politically savvy than it would have been just a couple of years ago. So that could present an obstacle to online gambling becoming part of the super committee’s recommendations.

My other reservation comes from the idea of the federal government actually passing such legislation and thereby being the ones to oversee online gambling — including poker — in the U.S. Nothing specific here other than the usual, vague worries over how exactly that would play out.

I mean it might work out just great. But something tells me it wouldn’t be exactly super.

Melanie Iglesias is back as a Royal Flush Girl–but Michelle Banzer is not.

The World Poker Tour‘s Season X kick-off–the Legends of Poker–is down to its final table.

Get full chip counts here. And catch a live stream of the final table at 4:30pm PT here.

Also making the final table are Anonymously Good All-Star nominee Ken Aldridge (3,640,000) and 2011 WSOP bracelet winner Owais Ahmed  (1,720,000).

In semi-related news, Michelle Banzer has officially resigned yesterday as a Royal Flush Girl. Give Michelle one last look here.

Leading the way is Will Failla with  6,775,000, or as the Internet kids like to call it, “67 BBs.” He’s followed by Joshua Pollock  with  5,315,000.

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