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 In Atlantic City, Judge Gloria Burns approved the $23.4m offer by Tropicana Entertainment and Caesars Entertainment to buy the Atlantic Club Casino Hotel. Last minute union objections threatened to derail the process and a rival bidder complained that its bid was rejected.

Sobe Holdings bid $24m, but the bid was rejected as being of higher risk than the one from the Tropicana and Caesars. Lawyers for Sobe objected that Caesars’ debt mountain—$22.1bn according to its latest financials—should be a barrier to the purchase.
The Judge rejected their arguments, stating “at this point, the horse is out of that barn.” She ruled that only arguments about fraud or collusion could be used to contest the bid.
She also rejected the objections of Local 54 of the Unite-HERE union. Workers who will lose their jobs after the sale goes through will receive a severance package of $1500 plus they will keep the pension contributions that have been made to date.
The ruling will see the end of the Atlantic Club. Caesars will close the hotel and casino on January 13 and has no plans to re-open it. The Tropicana will take the table games and slot machines.
Casino Control Commission Chairman Matthew Levinson issued a statement that suggested a silver lining: “No one likes to see a business close, but we are optimistic that market consolidation will result in a stronger and healthier hotel and casino industry in Atlantic City.”

 A Christmas gift came 888poker's way when the poker room landed in second place in the worldwide rankings, according to the latest tabulations from PokerScout.

It marks the first time 888 has landed in the runner-up position, which was spurred by a 10% increase in cash game player action last week. 888poker now sits behind industry leader PokerStars and in front of third place iPoker Network.
iPoker trails 888 by 100 cash players in a seven-day average, but may make a run for the no. 2 position with the recent addition of Ladbrokes Poker on Dec. 21. Ladbrokes migrated from 10th-ranked MPN to join the industry's top Internet poker network.
Full Tilt fell from second to fourth place last week, now averaging 2,400 players weekly. PokerStars' sister site is looking up at 2,500 ring game players at iPoker and 2,600 at 888poker in a seven-day span.
Toward the bottom end of the top ten, Bodog/Bovada has taken sole possession of eighth place after finding itself in a three-way tie with Winamax and MPN last week. Winamax has settled in at no. 9, while MPN lost players and is now in a dead heat with PokerStars.fr for tenth place with 1,200 weekly cash players.
PokerStars' French-facing offering actually enjoys more players during peak playing times than MPN. Coupled with the defection of Ladbrokes, MPN appears to be headed out of the top ten when next week's results are in.
The winter months usually cause a spike in online poker player traffic as colder climates tend to keep people indoors. That allowed the industry to gain 9% from the previous week. In addition to the weather, a milestone hand promotion at PokerStars the entire week was also responsible for more action on the virtual felt.
As part of its December festival, PokerStars stuffed the Christmas stockings of players with $700,000 in bonus cash spread out over 300 milestone hands. PokerScout reported that almost 60,000 more ring game players were at the tables for the bonanza 300th hand that promised a $200k payout.
The December festival has now concluded, with cash game player increases of 19% seen during the milestone promo and 4% during Mission Week. Player numbers can now gravitate toward normal levels at PokerStars, with normal being 27,000 ring game players in a seven-day average coupled with a dizzying amount of guaranteed tournament action around the clock.
U.S.-facing poker rooms continue to be led by Bodog/Bovada by a large margin, with PokerScout estimating 1,450 cash players weekly. The Winning Poker Network, Merge and Chico are fighting for second among those sites servicing American players, with the 375 weekly ring game players at WPN outpacing the 325 found at each of the other two.
Party Borgata in New Jersey rounds out the top five in the U.S., landing in 30th place globally, as of this writing. That's quite an impressive feat considering the small available market that's restricted to players located within state borders. Party Borgata enjoys more than half of the Garden State market, outdistancing WSOP by some 100 players weekly.
In other U.S.-friendly poker room news, SealsWithClubs took a hit last week when its database was compromised, putting player passwords at risk. The bitcoin-only poker site informed all players that passwords needed to be changed following the breach. Player confidence eroded a bit at SealsWithClubs, causing a drop in player traffic.
The site had been on the rise in recent weeks, which coincided with a rise in the value of bitcoin. Late last month, the digital currency reached a peak of more than $1,240. But a decline in value as of late has seen one bitcoin fall to its current price of $657. Along with the security issues at SealsWithClubs, the virtual currency's drop in value may also be a contributing factor to less action at the tables.
At this time last year, 2% more cash players were finding their way to online poker sites. The decline year-on-year may appear to be negligible, but industry growth is the goal. Advancing online poker legislation in the U.S. in 2014 may go a long way in showing positive player numbers from one year to the next.
 

 Legal Online Poker Launched in the US

A lot of us never thought we would have seen the day. Just two and a half years ago marked the infamous Black Friday, which essentially shut online poker down in the US.
However, times have changed and a number of states took steps to legalize and regulate Internet poker in 2013. The first of those was Nevada, where an online poker market was officially launched in April.
Ultimate Poker made history by becoming the first legal poker site to launch in Nevada and it was soon followed by WSOP. The states of Delaware and New Jersey also subsequently launched online gaming markets in 2013 and other states are currently considering regulations of their own.
Ryan Riess Wins WSOP Main Event
The biggest event of 2013 that poker had to offer was won by Ryan Riess, who became the first player born in the 1990s to take out the WSOP Main Event. The American beat a total field of 6,352 to win poker's most prestigious tournament, along with the $8,361,570 cash prize and his first ever WSOP gold bracelet.
Jay Farber was the runner-up in this year’s Main Event and won a highly respectable $5,174,357 for his solid play throughout the tournament, his highest poker cash to date.
WSOP Expands to Asia-Pacific
This year marked the first ever WSOP Asia-Pacific, which took place in the Australian city of Melbourne  A total of five events were held during the eleven days of festivities, which included a $2,200 Mixed Event won by none other than Phil Ivey.
Bryan Piccioli made history by being the first ever WSOP Asia-Pacific gold bracelet winner. It came after he took out the $1,100 No-Limit Hold’em Accumulator event, which was the most popular event in the series with 1,085 entrants.
A $10,000 Main Event also took place, which was won by poker superstar Daniel Negreanu. The Canadian beat a total field of 405 entries to win the first ever WSOP Asia-Pacific Main Event and the $1,038,825 cash prize that went along with it.
Doyle Brunson Turns 80
He is a living legend in the game of poker, having played the game before many other professional poker players were even born. Doyle Brunson celebrated his 80th birthday on August 10 this year, just one month after achieving his 35th WSOP in-the-money finish.
The man known as Texas Dolly is one of the few living pioneers of poker, so it was no surprise that he received an enormous number of birthday wishes from the poker community.
Full Tilt Poker Remission Process Gets Underway
It was a bit over two years coming for those U.S. players waiting to claim reimbursements of funds from their Full Tilt poker accounts. But in September, the process to receive those funds got underway, a two-month operation that ended in November.
The Full Tilt remission process was not without its share of problems. But claims administrator Garden City Group eventually communicated better with claimants, resolving concerns that initially had frustrated those players filing petitions. Uncontested claims will likely be reimbursed by March 31, with those long-dormant funds finally making their way into the pockets of U.S. players.
It will be a long time coming, but hopefully one piece of news that will be contained in PokerUpdate’s Big Poker News of 2014 feature will be that of players finally receiving their funds.
 

Poker superstar Phil Ivey's poker website is preparing for an upcoming launch of Ivey League, which is the training portion of IveyPoker.com that is designed to assist players in improving their play on the felt.
A recent photo tweet by the nine-time WSOP gold bracelet winner showed Patrik Antonius and Aaron Jones working together in filming a new video that will be available at the coaching site. The two pros are among dozens on the Team Ivey roster who will be lending advice to players on how to climb up the ranks and advance to new levels of profitability in poker.
Ivey announced the launch of his site in late 2012, saying that he wanted "to teach the world how to play better poker." Following that announcement, almost three dozen pros were selected in piecemeal fashion to join Team Ivey in providing training. Ivey's hand-picked roster includes instruction from diverse playing styles from the nit leanings of Allen "Chainsaw" Kessler to those pros who favor a somewhat looser approach.
While the pros at Team Ivey are far removed from the beginning levels of play, they have not forgotten the basics needed to instruct rookies who are new to the game. More advanced levels of training are also available from a well-rounded stable at IveyPoker that include tournament champions, cash game specialists, and experts on all game types and forms of poker, according to IveyPoker.com.
In February, the renowned poker coaching site LeggoPoker.com was acquired by IveyPoker, with Ivey stating that "LeggoPoker is one of the best teaching sites on the market.” He added that the acquisition brings with it "a great match with IveyPoker and together we will offer a top-notch educational poker destination in Ivey League.”
Over the summer, a social media game of poker was launched at the site, but the training videos remained under development. Those videos will soon be available as the long-awaited launch of the Ivey League will commence once the "finishing touches" are completed.
http://www.pokerupdate.com/


 Ladbrokes Poker migrated from MPN to iPoker over the weekend, joining the world's top-ranked poker network.

Players were informed via email on how to download the new software. A visit to the Ladbrokes Poker website now proudly details the new VIP loyalty program benefits, as well as the availability of joining Speed Poker, the iPoker Network's fast-fold variant.
All Ladbrokes player account balances and points made the move once players downloaded the new iPoker software. In terms of VIP levels, each player was placed in the highest level achieved during the previous 12 months of online poker play.
Although it may be too early to get an accurate read on the effect of player traffic as a result of Ladbrokes' transition, it appears that poker networks in general are suffering. iPoker spent a good portion of 2013 in second place in global rankings behind PokerStars, according to PokerScout.
As of this writing, iPoker is now tied for third place with Full Tilt in worldwide player traffic numbers, with 888poker taking over second place. Whether the addition of Ladbrokes can help iPoker to once again gain the no. 2 spot will be watched intently throughout the industry.
Microgaming's MPN is the second-ranked poker network in the world, holding down 10th place among poker rooms and networks combined. But player numbers appear to be declining and the loss of Ladbrokes certainly won't help. A scheduled departure by Unibet early next year will also lead to even less liquidity at MPN.
Unibet's exit is rather interesting, as the poker room is eschewing its status as a skin as part of a network in favor of establishing a standalone poker site not bound by the constraints of network policies. Whether a trend emerges that finds other poker rooms following suit remains to be seen.

A recent poll of 1,011 Americans found that 2 out of 3 support the legalization of online poker.
Those numbers clearly contradict what anti-online gambling casino mogul Sheldon Adelson came up with in a survey of his own in which the Las Vegas Sands CEO claimed that over 70% of Americans were against online poker regulation. One may wonder how such a discrepancy exists from two seemingly similar surveys.
The answer lies in who was surveyed and the manner in which the questions are phrased. Surveys can often obtain the results that the questioners hope to elicit merely by asking questions in a biased fashion.
The Reason-Rupe poll was conducted via telephone in early December and found 65% in favor of online poker, 32% opposed, and 3% undecided. The results also showed that college-educated respondents who earn between $60,000-$110,000 annually are more supportive of Internet poker, while those on the lower end of the income scale were less inclined to vote positively.
Adelson wrote an op-ed piece in November that was published in the Las Vegas Review-Journal voicing his anti-Internet gambling stance that relied heavily on his poll results. The casino magnate has launched a campaign against online gambling and will undoubtedly use his enormous wealth estimated by Forbes to be around $28 billion to fund his recently-formed coalition to prevent online gambling legislation.
The Reason-Rupe survey found that Americans of an advanced age are less likely to favor online poker. The approval rate dipped to 55% of those surveyed who were above the age of 55.
Those findings indicate what anyone with a bit of common sense could reveal. That Americans who spent the majority of their lives without Internet access have yet to fully embrace the computer age. Adelson is 79 years old and can likely be counted as being among the elder segment of the population who are not computer-savvy and continue to distrust the latest technological advancements.
http://www.pokerupdate.com/


The Atlantic Club Casino Hotel has found buyers at a public auction, but those buyers have no intention of allowing gamblers to wager on dice, cards and slot machines.
Tropicana and Caesars have agreed to purchase the bankrupt casino for the combined sum of $23.4 million. However, the casino's assets will be stripped, forcing a closure on Jan. 13 and leaving Atlantic City with 11 existing casinos.
Tropicana has agreed to pay $8.4 million for 48 table games and more than 1,600 slot machines, while Caesars will shell out $15 million for the property and hotel rooms. The deal won't be finalized until a bankruptcy judge signs off on it at a Monday hearing, but indications are that an order will be entered.
Atlantic Club COO Michael Frawley expressed disappointment over the casino's closing, telling AP that the "pace was unsustainable in the extremely challenging Atlantic City gaming market."
That market opened to online gambling on November 26, leading many to believe that the value of the financially-strapped Atlantic Club had increased. But with seven New Jersey casinos already operating over a dozen online gambling sites, perhaps there was not room for another casino that couldn't make a go of it in the live gaming sector.
Tropicana will be backing up the trucks to remove the slots and table games after Jan. 13, while Caesars plans to make use of the rest of the non-gambling assets at its four other Atlantic City casinos - Bally's, Showboat, Harrah's and Caesars Atlantic City. A Caesars spokesman said that the hotel will not be opened and that options will be considered on how best to utilize the property.
PokerStars made a bid for the Atlantic Club one year ago, agreeing to the purchase price of $15 million and paying $11 million toward that end. But failure to obtain interim casino authorization within a contractually specified time frame nixed the deal.
Overall casino revenue has been declining in Atlantic City for seven consecutive years. Pennsylvania took over 2nd place in land-based gaming revenue recently, a position New Jersey held behind first place Nevada for decades. With the Atlantic Club's closing, Pennsylvania will now have more casino gaming establishments than New Jersey, at 12 to 11.
http://www.pokerupdate.com/


Bankruptcy proceedings that include a public auction to find a new owner for the Atlantic Club Casino Hotel have been on the fast-track in New Jersey, but those proceedings have apparently been slowed by a lack of desire among potential buyers.
On the block for two days, a new owner for the struggling casino has failed to emerge, postponing any further court hearings until Monday. To further complicate matters, the local union representing casino employees has objected to the sale, asking the court to force any buyer to assume the constraints of the existing collective bargaining agreement.
The Atlantic Club owners, Colony Capital LLC, prefer a sale that excludes any liabilities, including the contract with the union, the Press of Atlantic City reported. Whether or not the owners get their wish will likely be decided by a bankruptcy judge.
As many will recall, PokerStars had brokered an agreement to acquire the casino for $15 million roughly one year ago. The deal fell through several months later when the Atlantic Club utilized a contractual clause that allowed the sale to be nullified based on a casino licensing stipulation.
The belief was that the Atlantic Club could possibly be sold for a larger price following the enactment of online gambling legislation in the state of New Jersey last February. But it appears that the Atlantic Club may not have played their cards correctly considering that the result of voiding the agreement with PokerStars led to a bankruptcy filing and the inability to secure a new buyer.
“God only knows what’s going to happen,” said Local 54 union president Bob McDevitt.
http://www.pokerupdate.com/


Everyone has a chance to win a poker tournament, no matter the age or experience. Masato Yokosawa, a 21-year-old Tokyo business manager, showed that once more in the first ever World Poker Tour (WPT) main event held on the Asian continent.
Yokosawa started playing poker eight months ago and saw an opportunity when he heard that the WPT was heading to South Korea this December. He took on the challenge and never regretted it.
The Japanese was able to beat a total field of 137 players in five days to win the Main Event and $100,000, including a $15,400 entry to the 2014 WPT World Championship.
Yokosawa started the final day second in chips out of six players remaining, but he quickly secured the chip lead after experienced poker player, Chane Kampanatsanyakorn, spewed off his stack. The 18th place finisher in the 2013 WSOP APAC Main Event lost most of his stack in one key hand: after a call pre-flop, he check-called a monotone flop, check-raised a blank turn, and bet the river only to see his opponent, Kosei Ichinose, holding a flush. His elimination came a few hands later: his Ace-Five all-in was crushed by Chris Park’s pocket fives.
Another experienced poker player failed to deliver in the first WPT event in South Korea. Jae Kyung Sim, who won the 2013 APPT Cebu (Philippines), had to make a move with his 12 big blinds. He found a premium hand to do that, the Ace-Queen of diamonds, but he ran into an even bigger one – pocket Kings.
The next elimination showed that Yokosawa knows how to play the game and recognize the spots when you just have to be aggressive. He open-shoved with Nine-Four suited from the small blind to force five big blind stack Ichonese to make a decision. Ichonese correctly called with Jack-Ten but to no avail. The Japanese caught a lucky turn and eliminated the tiny stack in fourth place.
Forty-one hands later, Hyunshik Hun three-betted an open raise from Park and called his shove for his tournament life. Unfortunately for him, his King-Queen hand wasn’t good enough to win the race against Park’s pocket tens.
The heads-up battle between Park and Yokosawa started with the Japanese having a 2-to-1 chip advantage and lasted 50 hands. In the final hand, Park got the initiative pre-flop; he was aggressive on all streets and eventually moved all-in on the river with two pair, only to get called by Yokosawa, who had made trips on the turn. Park finished second, earning $60,700.
http://www.pokerupdate.com/


Despite being deemed a success by online poker proponents, last week's House subcommittee hearing on Internet gambling has not prompted federal lawmakers to act with any great urgency on the matter.
In somewhat of a let-down to Internet poker players throughout the U.S. who had high hopes after representatives from both the Poker Players Alliance and American Gaming Association laid out a strong and convincing need for federal regulation during the hearing, House Subcommittee on Commerce, Manufacturing and Trade chairman Rep. Lee Terry (R-Nebraska) told Gaming Today that he and his colleagues don't plan on moving swiftly.
“There’s really nothing on the agenda next for this,” Terry said. “We are going to see how things are evolving in Nevada and New Jersey and other states."
That is precisely what U.S. online poker players didn't want to hear. The longer it takes for federal legislators to act on the issue, the less likely that any proposals will advance. If more states eventually join Nevada, Delaware and New Jersey, the odds increase that a federal scheme will never be realized.
While a state-by-state patchwork of regulation is better than none at all, it will not be as favorable as a federal plan that would include all states less those that choose to opt out. The proposal on the table submitted by Rep. Joe Barton (R-Texas) that was a centerpiece of the December 10 hearing aims to do exactly that, but U.S. lawmakers remain nonplussed.
"I don’t think a case was really made," Terry said, with regard to the need for immediate action. "When it comes to setting parameters for Internet gambling where issues of technology and privacy come into play, I don’t know how you can do that.”
The states know how to do it and three have already done so. A handful more may come on board next year, with Pennsylvania, Illinois and Mississippi believed to be the most serious candidates. California could be included in that bunch, but rumors abound that Golden State lawmakers prefer not to partner with other regulated states.
In the meantime, American players are left no option but to play at sites that are unregulated and located overseas. That continues to be a poor option for some who desire consumer protection that a regulated environment would bring. Black Friday's fallout is still etched in the the minds of many U.S. players.
There are some decent online poker options for U.S. players currently, if decent were to be defined as poker rooms that process cashouts both speedily and efficiently. Americas Cardroom and Bovada Poker currently fit the bill in that regard. However, it certainly doesn't compare to playing at PokerStars where the guaranteed tournament and cash game selections leave nothing to be desired.
But as is evident from April of 2011, unregulated sites operating in the U.S. can vanish at any moment, leaving players out of luck and with virtually nowhere to turn. Sad to say, we are getting used to that, as we have been turning toward federal lawmakers to effectuate online poker legislation for years. But those pleas have fallen on deaf ears.
http://www.pokerupdate.com/

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