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Caesars bankruptcy cost company $160m in legal fees

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The final legal tab has come in for casino operator Caesars Entertainment Corporation’s prolonged bankruptcy fight, and it ain’t pretty.

 

According to a summary court filing on Tuesday, the nearly three-year bankruptcy tussle over CEC’s struggling main unit Caesars Entertainment Operating Co (CEOC) required the company to pay out over $160m divvied up among six different law firms, including $77m to Kirkland & Ellis, which served as CEC’s lead counsel.

Another $30.6m went to Winston & Strawn, which served as legal counsel to Richard Davis, the former Watergate prosecutor who was brought in to dig through CEC’s dirty laundry to discover if their sketchy financial antics meant they were liable for billions more dollars than they hoped to pay. 

Of course, a messy restructuring of CEOC’s tangled affairs was never going to come cheap, but imagine how much smaller CEC’s legal tab might have been if it had just copped to paying those extra billions from the get-go rather than cling to the faint hope that US Bankruptcy Judge Benjamin Goldgar would simply smile their way and say ‘that’s fraudtastic!’

In other CEC news, the Indiana Horse Racing Commission (IHRC) says it still hasn’t received an application for the $1.7b sale of Centaur Gaming’s two Indiana racinos to CEC. The deal, which was announced last month, requires the approval of both the IHRC and the Indiana Gaming Commission.

CEC already operates two Indiana-based Horseshoe-branded casinos, and the addition of Centaur’s Indiana Grand casino and Hoosier Park Racing & Casino will give CEC control over four of the state’s top-five gaming venues by revenue. Indiana law doesn’t allow any one company to own more than two casinos in the state, but the law doesn’t apply to racetrack-based casinos.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Online Casino in Canada

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Online Casino in Canada

 

The online casino market in Canada is saturated with thousands of online casinos. When looking for an online casino in Canada to use, you can find Canadian online casinos on Casinobernie.

This website carefully vets the thousands of available casinos in Canada to come up with a sizable list of only the best casinos. You can save yourself money and time by following their simple recommendation.

Here is a list of top online casinos in Canada.

1. Dunder

The Dunder Casino is great for gamers who love playing different casino games and do not have a certain favorite. It is a unique platform with a classy user-friendly interface that whets the appetite of gamers. There are over hundreds of games available on the site from top gaming software providers. The loading time speed of the website is fast and it offers progressive jackpots.

The welcome bonus is equally attractive. After successfully opening an account with Dunder Casino, you get 20 free spins. You also get a deposit bonus of 180 free spins and 100% up to $600. The wagering requirement is 25X.

2. Lucky Days

Lucky Days Casino is one of the best online casinos in Canada. There are excellent games selection available for players, different games to suit all player’s playstyles. The website has a cool design that is markedly different from other online casinos.

It is easy to navigate the site. It uses a filter to make the game search easy and quick. Some of the gams include table games, live casino games, and slot machines with huge jackpots. It also offers some big bonuses.

Lucky Days does not have any bonus without a deposit. It does however have a cool deposit bonus. On your deposits, you can get bonuses such as 100% up to $1500 and 100 free spins. The wagering requirement is 30X.

3. Live Casino

Live Casino offers top-quality casino gaming options. It is the number one feature that separates it from other online casinos. There is virtually no game you want to play that Live casino doesn’t have in a satisfactory format. If you want to play table games, classic or modern slots, or live dealer games, this casino will satisfy your craving instantly.

Live Casino from its name boasts of having one of the largest gaming collections of live casino games in Canada. It makes use of popular payment options to make it easy for customers to process payments (withdrawals and deposits).

It has a casino license that helps remove all doubts about its legitimacy. The customer support is top-notch, reliable, and responsive to customer complaints. Want to use your mobile phones? It is compatible with mobile devices.

Although it does not have any bonus, you can trust the quality and fairness of its services. It is a great pick for punters.

4. Casino Days

If you want to enjoy an amazing casino experience, Casino Days is an excellent choice. It has a great number of games selections from top gaming software providers available on its site. The interface is aesthetic and pleasant to use.

The customer support system is excellent and responsive. It is easy to navigate and offers excellent payment options.

It does not offer any bonus without a deposit. However, it offers up to 100% up to $500 bonus with no free spin. The wagering requirement is 35X.

The gaming providers for Casino Days include Booming Games, Elk Studios, NetEnt, Playson, Thunderkick, Push Gaming, Quickspin, Habanero, Pragmatic Play, and Red Tiger.

5. 24Bettle

24Bettle is another great casino that has a professionally designed platform. It is more than a typical online casino website; it also offers a sports’ bet section. The arrangement of the site with its color themes and neatly layered tabs and buttons allow for easy navigation. You can easily switch between different gaming options thanks to the simple layout. It has a wide range of games available on the site.

24Bettle is the best casinos in terms of the organization in Canada. The excellent work put in to make their website convenient and user-friendly also reflects in the quality of its games.

You enjoy a 100% bonus on deposit up to $480 with no free spins. The wagering requirement is 30X.

Some of the game providers for 24Bettle include 2 by 2 Gaming, Booming Games. Elk Studios, iSoftBet, Hacksaw Gaming, 1x2Games, Microgaming, Gameburger, NetEnt, Thunderkick, Play n’ Go, Quickspin, and Triple Edge Studios.

Conclusion

There are hundreds of online casinos in Canada available for players. However, not all are quality and offer excellent gaming experiences. Some of the best online casinos in Canada are Dunder, Lucky Days. Live Casino, Casino Days, and 24Bettle.

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OneTouch unveils new Russian Poker release

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Single-touch ergonomics make it perfect for on-the-go betting

 

Monday, 5th February 2018 – Premium games developer OneTouch will arrive at ICE 2018 armed with Russian Poker – it’s latest industry-leading online table game.

Russian Poker offers a unique version of player vs house poker, where the player is dealt five cards and is offered the chance to exchange cards or buy an additional card to make two five-card hands.

Players can also take insurance and buy the dealer a card if they don’t qualify with their opening five cards. This exciting version of casino poker is sure to be an online hit in Eastern European markets where the game had a large and loyal following in land-based casinos.

Matthew Rochman, Head of OneTouch, added: We’re always looking to add a modern flair to traditional table games and that’s exactly what we have done with Russian Poker.

 The game is hugely popular in Eastern Europe and we are confident players will love our crystal-clear graphics and mobile-first approach as we bid to make it a modern-day classic.

We believe we are the first company to deliver a state-of-the-art mobile version of Russian Poker and operators who have received been given a sneak preview of this games are excited and keen to add it to their portfolio in 2018.

OneTouch prides itself on providing an intuitive user experience across all of its titles via a single touch on all modern handheld devices thanks to its cutting-edge JavaScript framework and mobile-first approach to layout design.

The decks are also shuffled using a Provably Fair RNG, allowing players to verify the integrity of the shuffling and cards dealt to them, creating a gaming experience which is both exciting, enjoyable and fair.

OneTouch’s full portfolio of titles, which also includes roulette, blackjack and baccarat, will all be available to demo on Stand S9-112 at ICE 2018.

 

 

About OneTouch

Isle of Man-based OneTouch Technology Ltd develops premium table games for online casinos worldwide by combining innovative mobile-first designs with sharp single-touch interactivity to deliver a superior online gambling experience on both desktop and hand-held devices.

For more information, please visit www.onetouch.io

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Greek Casinos Could Start Giving Loans

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A new bill tabled in the Greek parliament on Monday could allow casinos to lend money to reliable customers to gamble.

 

In an omnibus bill being voted on Monday amid strikes and protests, there is a provision which will enable casinos to lend over 50,000 euros to select customers to continue playing if they need to, a Greek finance ministry source said.

This new law is aimed at foreign customers, to facilitate more spending in Greek casinos. The idea behind the bill is that studies show many gamblers decide on the place where they will spend their holidays on the presence of casinos where lines of credit are available.

These loans will not involve cash but special chips to be used exclusively inside a particular casino. To convert these special chips into money, any casino loan must have been repaid in full.

Chips will be counted as casino revenue, meaning gambling loans will be taxed, the finance ministry source added.

Plans to expand the availability of gambling in Greece have met opposition, with the local authorities in the Greek islands of Santorini and Crete recently hitting out at government plans to allow casinos to open on the popular tourist destinations.

Media reports from Crete say that local councils in the island are also preparing to launch a campaign against the casinos.

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