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Wendeen H. Eolis

Borgata Shows Record Keeping Prowess: Keeping Men "The Master" On His Toes

By Wendeen H. Eolis

Four thousand + players journeyed to the Borgata Winter Open, for its first tournament -- a $560 buy-in, deep stack confection, with a two million dollar guaranteed prize pool. The numbers proved themselves; it was a “must play” event.  But with twenty-seven players remaining in the field, the tournament was suspended before the commencement of day three, last Friday. One day later Event 1 was canceled.

The Big Guns Get Involved

The tournament had been compromised, said Joe Lupo, Senior Vice President of Operations at the Borgata.  He explained that the New Jersey Division of Gaming Enforcement made the decision to cancel the tournament  and place the remaining unpaid prize monies in a trust pending a further resolution.  Lupo has had his hands full since revealing the discovery of "significant counterfeit chips" in play at the tournament. He has been juggling his time among competing priorities.  He must cope concurrently with expectations of top management, availability to DGE and other investigative professionals, continued oversight and collaboration with his teams, and extensive attention to the plight of players whose dreams were smashed by a compromised tournament or its cancelation, and maybe both. 

Players Put Men "The Master" Nguyen  On Stage

Your rating: None Average: 4.7 (9 votes)

PokerStars Battle in America: Truths, Consequences, and Options

By Wendeen H. Eolis

Last week the New Jersey Division of Gaming Enforcement finally announced that PokerStars' application for a gaming license has been suspended for two years—with one pointed equivocation. If the Company seeks relief from this suspension, based on appropriately “changed conditions” within the Company, the DGE says its license application may be reassessed sooner.

The DGE cites the unresolved indictment of PokerStars founder Isai Scheinberg as the "primary" cause for the decision. Insiders close to the regulator say there are  various other management concerns  in the mix, notably including questions as to Isai Scheinberg’s current involvement in Poker Stars. A settlement agreement between the Company and the U.S. Department of Justice, (arising from the Government’s prosecution, U.S. v Scheinberg et al April 15, 2011) presently prohibits Isai Scheinberg from assuming any leadership role in the Company.

Truths and Consequences

It is hard to imagine  separating the Scheinberg name from PokerStars; it stands for immense technical know-how in the world of online poker security, an uncanny understanding of the poker business, exceptional responsiveness to customers' wants and needs, and impeccable financial integrity with its patrons. These are the hallmarks of Isai Scheinberg’s PokerStars and they continue to be at the heart of the Company’s operating philosophy with its customers, under his son Mark Scheinberg, say their legions of fans. The younger Scheinberg now holds the reins as CEO,

The Company’s detractors, however, debate PokerStars' business principles beyond the glow of customer satisfaction. Reports of uneven relationships and questions of fairness on the part of the Company in their arrangements with various corporate business partners and a large force of independent contractors surface periodically.   So do  complaints of a corporate strategy that  promotes and endorses "uninformed accusations"  of character deficiencies of successful competitors and others not in favor with the Scheinbergs. The chief gripe noted by several competitors and former service providers is  "bad-mouthing  that emanates  from the top of the pyramid,”

Your rating: None Average: 4.4 (7 votes)

PokerStars iGaming license at launch in New Jersey is a no go

by Wendeen H. Eolis

BULLETIN!

As exclusively reported at pokerplayernewswpaper.com, on November 7th, PokerStars will not be part of the iGaming fraternity operating in New Jersey on its historic scheduled launch date of November 26th.

Look for statements from PokerStars and/or DGE pledging that the dance continues—but for more on the back story to this state of affairs, stay tuned to pokerplayernewspaper.com.

Your rating: None Average: 3.7 (3 votes)

East Coast Casino Licenses: Inside Pandora's Box

by Wendeen H. Eolis

The New Jersey gaming license application of Poker Stars has been a bruiser after a series of battles instigated and propelled by indignant opponents united under the umbrella of the American Gaming Association (AGA). But the fallout from the warring parties’ activities is far from over—regardless of the outcome on the PokerStars application this week.

 The time worn precept that a zealous foe who seeks to bury his target had best to build two graves may apply here. The AGA has succeeded, beyond a shadow of a doubt, in spotlighting PokerStars as a company that poses serious suitability issues in the context of New Jersey’s traditional casino licensing standards.

 At the same time, the New Jersey Division of Gaming Enforcement’s disorganized and dragged out proceedings, have provided regulators in other jurisdictions quite the primer on potential pitfalls in licensing deliberations. Perhaps as important, regulators have been motivated to take a harder look at the suitability of potential licensees, even if already licensed elsewhere. This food for thought was not likely anticipated by other gaming companies now being held accountable to more stringent standards than ever before.

Your rating: None Average: 4 (5 votes)

PokerStars Competitors Gain Momentum

by Wendeen H. Eolis

This past week has seen a frenzy of activity over the license application submitted by PokerStars to New Jersey regulators.

 This morning previously proven sources with direct knowledge of current affairs reconfirm PokerStars remains shut out of the starting line up for online gaming in the Garden State.

 "No approval tomorrow," say law firms with direct knowledge of late breaking developments.  Insiders closely associated with PokerStars say founders Isai and Mark Scheinberg are actively preparing for worse news on the near horizon.

 More news coming shortly on the pressure brought to bear by competitors outraged by "unfair competition." One lawyer peripherally involved says current "mess" is made by New Jersey Division of Gaming Enforcement making promises to PokerStars that we're not in concert with New Jersey regulatory tradition of stringent suitability requirements. 

Your rating: None Average: 4 (8 votes)

PokerStars DGE Licensing Dance Continues

 Wendeen Reports Further Update here

Communications arms of both PokerStars and the New Jersey Division of Gaming Enforcement have come forward to insist PokerStars' licensing application remains active without disputing reports in Poker Player Newspaper that regulators have determined  to keep PokerStars off the list as of this time as part of the starting line up of Internet gaming companies that will begin full operations in New Jersey beginning November 26.

Your rating: None Average: 3.8 (6 votes)

Poker Stars Snubbed by NJ Regulators: Announcements Scheduled for Today

by Wendeen H. Eolis

Update Bulletin: PokerStars Faces Red Lights in NJ 

After months of investigation by the New Jersey Division of Gaming Enforcement, the regulators have made their determinations and are  expected to step up to the plate today with announcements of the companies licensed for Internet gambling in NJ, on the opening date of November 26.  

 The lead up to the announcement has been accompanied by plenty of turmoil among warring parties.  Throughout this period, however, PokerStars and its boosters including various state officials, PS private lobbyists, and high placed friends, have exuded confidence without interruption, only to hear of their failure to secure a license at this time.

 Regulators are said to have railed against pressure to turn a blind eye on the outstanding criminal case against PokerStars founder Isai Scheinberg, arising from his indictment dating back to 2011. Word has also leaked out through sources close to officials in Atlantic City and in the Statehouse of growing concern as to the role of PokerStars founder in the Company's current activities.

While Isai Scheinberg is described by the Company as a "Fellow" and not part of management various opponents to PS licensing are continuing to argue that Scheinberg still operates within the Company as if he is in charge, with respect to matters that interest him. If true, this would violate the Company's settlement agreement with the US Department of Justice in connection with its legal troubles arising from the indictment and companion civil case U.S. v Scheinberg et al. 

Your rating: None Average: 3.9 (9 votes)

PokerStars Thwarted in First Round of New Jersey Gaming Licenses

by Wendeen H. Eolis

BREAKING NEWS!

PokerStars has failed to secure  a gaming license this week for opening date of online gaming in New Jersey according to three insiders with direct knowledge--on both sides of the pond.

The New Jersey Division of Gaming Enforcement is said to have become increasingly concerned about the open criminal case against PokerStars founder Isai Scheinberg who has yet to face charges arising from his indictment of April 15, 2011, brought by the U. S. Department of Justice.  More details tomorrow.

  

Your rating: None Average: 4.6 (9 votes)

Poker Hall of Fame Inductions: McEvoy and Nguyen: Among the Worthiest

By Wendeen H. Eolis

The World Series of Poker did itself proud, deciding to host a full on celebration of the elected inductees in the 2013 class of the WSOP’s Poker Hall of Fame. Tears of pride and joy trickled down the faces of poker professionals Tom McEvoy and Scotty Nguyen as each accepted the highest honors conferred by a grateful poker world at a dinner in their honor, last night.  

A Cool Wine Cellar

 The WSOP executive team chose the sophisticated wine cellar at the Rio All Suites Hotel and Casino for the cocktail reception. Impressive wines were uncorked. The drinks flowed freely and the hors d’oeuvres were elegant. An hour later the doors to an inner sanctum were opened for the sit-down dinner and organized celebration of two good men.

 Filet mignon was served, but the sizzle in the steak was the poignant and gracious words that were spoken in the course of the induction ceremony.

WSOP Executive Director Moves the Needle

Your rating: None Average: 4.5 (2 votes)

Poker Documentary Beats Up on Ultimate Bet: Digging Deeper on Cheating Scam

by Wendeen H. Eolis

In the spring of 2000 Russ Hamilton coached Wayne Newton to a “tie” in a heads-up No Limit Hold’em duel that became part of GQ reporter Elizabeth Gilbert’s published story, “Chicks with Decks”— later that year. James McManus, the author of the poker classic Positively Fifth Street adopted  Gilbert's catchy title as the heading for his chapter on women in poker. The catchy title fit the Gibert and the ladies profiled in Positively Fifth Street far better than it fit me, as Gilbert' poker coach, and Hamilton’s opposite in the  entertaining match.

Your rating: None Average: 4.8 (8 votes)

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