Gambling

News & Analysis as of

FinCEN Assesses Significant Penalty Against Casino for Bank Secrecy Act Violations

The Financial Crimes Enforcement Network (FinCEN) assessed on July 15 a civil money penalty in the amount of $2.8 million against Hawaiian Gardens Casino Inc., d/b/a The Gardens Casino, for Bank Secrecy Act (BSA) regulatory...more

Supreme Court Declines to Consider Curtailing NLRB’s Authority over Michigan Tribal Casinos

Recently, two Michigan tribes petitioned the U.S. Supreme Court challenging the National Labor Relations Board's (NLRB) authority to regulate labor practices at their casinos. Unfortunately, the U.S. Supreme Court declined to...more

Skin in the Game: Is There Online Gambling in the World of eSports?

Over a billion people around the world have caught eSports fever. eSports, also known as electronic sports or competitive video gaming, describes a wide array of online games spanning from traditional sports games to...more

Media, Sport and Entertainment Intelligence - June 2016

Overview With the Olympics and the Euro Championship taking place this summer, it’s no surprise sport has been dominating the headlines. Whether it’s the reorganisation of the football league system or shirt sponsorships...more

Pro-Golfer Phil Mickelson Pays $1M to SEC to Settle Civil Insider Trading Claims, But Escapes Criminal Charges in Light of Newman

On Thursday, May 19, 2016, the U.S. Attorney’s Office for the Southern District of New York announced the arrest of renowned sports bettor William “Billy” T. Walters on an alleged years-long insider trading scheme conducted...more

Government’s Decision Not to Charge Phil Mickelson Illustrates Difficulties in Proving Insider Trading Cases Against Tippees

On May 19, 2016, the United States Attorney’s Office for the Southern District of New York and the Securities and Exchange Commission (“SEC”) announced insider trading charges against Las Vegas sports bettor William (“Billy”)...more

Your daily dose of financial news The Brief – 5.20.16

Manhattan USA Preet Bharara’s back in front of the cameras and back on the insider-trading horse with the announcement yesterday of criminal charges against well-known sports bettor Billy Walters and former investment banker...more

Social Casino Survives Latest “Gambling” Lawsuit

It’s a familiar sight: rows of men and women, on a bus or a subway, hands and eyes glued to their phones. But they’re not talking or texting or e-mailing. They are playing slots, though not for real money. This is the world...more

Monmouth Park Brings Exchange Wagering to the United States

Exchange wagering—a fixed-odds variant of pari-mutuel betting—is making its U.S. debut today. Monmouth Park, a racetrack in New Jersey, has begun offering on-site and online exchange wagering in cooperation with Betfair US....more

The Race Is On: Nevada and New Jersey Scramble to Lead the Evolving Relationship between Gambling and eSports

For the last several years, eSports contests have been filling arenas throughout the world. eSports viewership and associated cash prizes now rival those of professional sports. Top teams win millions of dollars in a single...more

Italian Game Agency to Issue New Rules for Betting on Virtual Events

The Italian Game Agency is issuing new rules for betting on virtual events. Draft of a new decree (the “Decree”) was notified to the European Commission on March 31, 2016. The EC will verify that the Decree complies with...more

Media, Sport and Entertainment Intelligence - April 2016

Looking ahead The latest US sales report for the music industry has been released, showing annual revenues are still hovering around the US$7 billion mark, as they have since 2010. But what has been changing is how the...more

Under the Dome: Inside the Maine State House

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Paul LePage Refuses to Swear In Senator-Elect Susan Deschambault - On Tuesday, March 29, a...more

Media, Sport and Entertainment Intelligence - March 2016

Welcome to a new edition of Media, Sports and Entertainment Intelligence; this new version aims to provide an overview of what we see coming up on the horizon that could impact businesses in the Media, Sports and...more

Status of licences for sportsbets, VAT on services rendered electronically

Permission of online sport betting providers in Germany The gambling market is strictly regulated under German law, with the operation and organising or facilitating of public games of chance on the internet prohibited...more

UK Budget 2016: IPT, technology and gambling

The Chancellor delivered his 2016 Budget yesterday. Below is a brief summary of the announcements which are relevant to corporates in the IPT sector....more

Is it a Gamble for Employers to Permit Office Pools During March Madness?

The American Gaming Association estimates that Americans will bet a total of $9.2 billion on March Madness brackets, pools and contests this year, an increase of approximately $200 million from last year. While estimates...more

The Final Four – Do Employers Care?

Much time will be spent this week in person and online trying to make money on the NCAA tournament. There’s the blog hook for today. Online technology, and social media in particular, have made it much easier for employees to...more

Tax Brackets: Revisiting the Tax on Gambling Winnings just in Time for the NCAA Tourney

March Madness is upon us and, at least until Thursday, all brackets have yet to be busted. When completing your bracket for your office pool or a pick ‘em group with friends, keep in mind the tax consequences if you hope to...more

Daily Fantasy Sports Update – DraftKings Sues Texas AG; Activity in GA and IN

In January, Texas Attorney General Ken Paxton issued an opinion that daily fantasy sports (DFS) is likely illegal gambling under Texas state law “[b]ecause the outcome of games in daily fantasy sports leagues depends...more

The Game Goes On: Sheppard Mullin Obtains Dismissal With Prejudice of Class Action Alleging Social Gaming Micro-transactions...

Another lawsuit alleging illegal gambling in a social game has been dismissed. Over the last year, social gaming mobile applications have come under attack from the Plaintiffs’ bar as gambling in disguise. Plaintiffs’...more

“The Times They Are A Changin’” For New Jersey Gaming

As the saying goes, “What doesn’t kill you makes you stronger.” It’s no secret that Atlantic City has faced its share of troubles. Gaming statewide continues to face transition, but after the dust settles, gaming in New...more

Texas AG Hits Deep in the Heart of DFS

On January 19, 2016, the Texas AG issued an opinion that paid Daily Fantasy Sports (DFS) are illegal under Texas law, but noted that “traditional” fantasy sports leagues are, as a general rule, legal under Texas law. In so...more

FinCEN Imposes $650,000 Civil Penalty on Small ''Card Club'' Gaming Establishment

The Financial Crimes Enforcement Network (FinCEN) announced its first enforcement action against a small “card club” gaming establishment imposing a civil penalty of $650,000. The enforcement action, announced December 17,...more

[Webinar] It’s No Game – Legally Structuring Your Sweepstakes, Contests & Promotions - January 14th, 4:00pm EST

From old-fashioned in-store giveaways to global social media campaigns, businesses and nonprofits alike love doing promotions! In this presentation, we will survey the legal landscape for conducting lawful promotions, and...more

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