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The #1 online casino company $RSI is primed for autism
Positions: $RSI 30 03/19 30C Proof: https://imgur.com/a/swCCMjz *This post is for informational purposes only, you should not construe any such information or other material as investment, financial, or other advice.* TLDR: Rush Street Interactive ($RSI) is the #1 nationwide online casino company and the #3 or #4 sports book depending on the state. Short selling, unwarranted institutional wariness of share dilution and the general market focus on sports book instead of online casino has left $RSI grossly undervalued. A massive blow out at Q4 earnings will result in analyst upgrades and a rapid repricing by market makers and institutions seeking exposure to the emerging sector. **Overview** "Sports book is really just kind of a warm up in a lot of ways for an online casino where the real money is made" - Niccolo De Masi, CEO dMY technologies Rush Street Interactive ($RSI) operates the BetRivers.com online casino and sports book. They are now fully licensed and operating in New Jersey, Pennsylvania, Michigan, Illinois, Indiana, Colorado, Iowa, and Virginia. They own and operate a casino in New York and already have a New York license making them well positioned for liberalization there. They merged with a dMY Technology Group SPAC on Dec. 31st 2020 with 240 million on the balance sheet to spend on growth. The online casino business is fundamentally more profitable than sports betting because the average value of a casino player is estimated at $600 while a sports book player could be as little as $20. Estimates put the online casino market at DOUBLE the size of the online sports book market and the online casino industry is really just getting started as more states liberalize. $RSI is expert at new market entry; they have been first to market in Pennsylvania, Illinois, Indiana, and Colorado and even when they aren't first they are capable of capturing market share in competitive markets such as New Jersey. They also have products which women play which accounts for at least half of the market in online casino. The female market is one that the pure sports book plays miss out on. Also for some fucking reason they operate a casino and sports book in Colombia (rushbet.co) and may make large expansions into other parts of south America as legalization continues. This means they have the expertise necessary for global expansion in the future although the states remains their primary focus and growth driver. **The Financials and Strategy** Unlike other companies in the space Rush Street is already profitable in 2020 and has a strong focus on Return On Invested Capital (ROIC). Q3 gross revenue was $71.9 Million. Q4 revenue is going to be a blow out. Combing through state gambling revenue data and breaking that down by market share my estimate is that Q4 revenue could be as high as $120 Million. Paired with this blow out will be a **guidance raise to $500 Million for 2021**, which is 2/3 of DraftKings 2021 guidance of $750M. https://imgur.com/a/xkfcayC What is striking when compared to $DKNG is that their advertising spend was only a quarter of revenue in Q3 while $DKNG spent 155% of their revenue. This will change as they begin to focus on growth, but it shows they are very good at getting return on ad spend. This company should actually be valued close to $DKNG based on growth potential once guidance is raised. https://imgur.com/a/RQQXtGg Their focus on attracting **female gamers** is also important to their long term growth potential. The sports book plays with cross sells to casino such as $DKNG will not be able to grow through the female demographic in the same way. **This cannot be understated** as one of the major strategic advantages of $RSI. https://imgur.com/a/xzJj26n As I said before I expect their trend of rapid growth to continue for Q4 earnings, certainly going to be a blow out based on looking at state gambling revenue numbers. My estimate is that their revenue will be around 110M for Q4. I also expect guidance to be raised to 500M for 2021 due to strong performance in existing markets and the recently opened Michigan market as well as their sports book launch in Virginia. https://imgur.com/a/ckTqHhh **Short sellers have entered the chat** The short interest on $RSI sits at 5.08 M shares as of 01/14/21 representing a 30% increase. Now why would a company already valued at 2.8 Billion and with a comparative valuation of 8-10 Billion compared with $DKNG and $PENN be so heavily shorted at such a low market cap? My conclusion is that an institution with 10s of millions to throw at shorting this stock wants to take advantage of fear of share dilution from warrant calling or to establish a better entry prior to earnings. **Commander in GILF Cathie Wood is Bullish on the sector** On Feb. 2nd ARK disclosed that they had purchased 620,300 shares of $DKNG. This is extremely bullish for the sector. I am highly confident that after Q4 earnings ARK will be purchasing shares in $RSI as well due its strategic advantages relative to $DKNG and exposure to the female demographic. For such a small market cap company this will be a major catalyst. **Institutions are bullish** Fidelity has increased their holdings to 14% as of today: https://d18rn0p25nwr6d.cloudfront.net/CIK-0001793659/8f10b0d8-a3d2-447c-bc75-87587d0a4670.pdf Alliance Bernstein holds a 6% position reported today: http://d18rn0p25nwr6d.cloudfront.net/CIK-0001793659/e883778d-e759-4a85-91c1-3242ed110720.pdf **Final notes** Jerome "The Bus" Bettis, Steelers legend and hall of fame running back, is their brand ambassador... This company knows their target audience and how to appeal to them, likely more 'classic' ambassadors to come to attract even more boomer and Gen X degenerates. Keep in mind these are the gamblers with big money to spend, the average age of an online casino gambler is 42. This stock has been grossly underpriced due to short selling. The terms of the SPAC deal were not unfavorable and all the insiders held their shares through the merger banking on growth in the market - **management owns 77% of the company**. This is a true value play on a well managed company in an emerging industry with a market size in the hundreds of billions. I plan to hold shares long term. I will post a part 2 breaking down their latest S-1 filing and Q4 revenue by state when they release their Q4 earnings date. Do your own research. References: https://www.legalsportsreport.com/sports-betting/revenue/ https://fintel.io/doc/sec-rush-street-interactive-inc-ex991-2021-january-05-18632-947 https://s26.q4cdn.com/794539746/files/doc_presentations/2020/RSI-Investor-Presentation-15-Oct-2020.pdf https://ir.rushstreetinteractive.com/news/news-details/2020/RUSH-STREET-INTERACTIVE-ANNOUNCES-THIRD-QUARTER-2020-RESULTS-AND-RAISES-FULL-YEAR-GUIDANCE/default.aspx https://www.youtube.com/watch?v=SQWEhWuPmzU https://www.thestreet.com/investing/draftkings-surges-as-stake-bought-by-ark-next-generation Positions: $RSI 30 03/19 30C I will be adding 04/16 25cs each week until earnings. Exit strategy: "What's an exit strategy?" - u/deepfuckingvalue Update 021321: IMPORTANT after a commenter pointed out that technically they could report as late as April 2nd I AM RECOMMENDING THAT EVERYONE ROLL OUT TO APRIL 16TH 35Cs
The #1 online casino company $RSI is primed for ingress.
Positions: $RSI 03/19 30C Proof: https://imgur.com/a/swCCMjz This post is for informational purposes only, you should not construe any such information or other material as investment, financial, or other advice. TLDR: Rush Street Interactive ($RSI) is the #1 nationwide online casino company and the #3 or #4 sports book depending on the state. Short selling, unwarranted institutional wariness of share dilution and the general market focus on sports book instead of online casino has left $RSI grossly undervalued. A massive blow out at Q4 earnings will result in analyst upgrades and a rapid repricing by market makers and institutions seeking exposure to the emerging sector. Overview "Sports book is really just kind of a warm up in a lot of ways for an online casino where the real money is made" - Niccolo De Masi, CEO dMY technologies Rush Street Interactive ($RSI) operates the BetRivers.com online casino and sports book. They are now fully licensed and operating in New Jersey, Pennsylvania, Michigan, Illinois, Indiana, Colorado, Iowa, and Virginia. They own and operate a casino in New York and already have a New York license making them well positioned for liberalization there. They merged with a dMY Technology Group SPAC on Dec. 31st 2020 with 240 million on the balance sheet to spend on growth. The online casino business is fundamentally more profitable than sports betting because the average value of a casino player is estimated at $600 while a sports book player could be as little as $20. Estimates put the online casino market at DOUBLE the size of the online sports book market and the online casino industry is really just getting started as more states liberalize. $RSI is expert at new market entry; they have been first to market in Pennsylvania, Illinois, Indiana, and Colorado and even when they aren't first they are capable of capturing market share in competitive markets such as New Jersey. They also have products which women play which accounts for at least half of the market in online casino. The female market is one that the pure sports book plays miss out on. Also for some fucking reason they operate a casino and sports book in Colombia (rushbet.co) and may make large expansions into other parts of south America as legalization continues. This means they have the expertise necessary for global expansion in the future although the states remains their primary focus and growth driver. The Financials and Strategy Unlike other companies in the space Rush Street is already profitable in 2020 and has a strong focus on Return On Invested Capital (ROIC). Q3 gross revenue was $71.9 Million. Q4 revenue is going to be a blow out. Combing through state gambling revenue data and breaking that down by market share my estimate is that Q4 revenue could be as high as $120 Million. Paired with this blow out will be a **guidance raise to $500 Million for 2021**, which is 2/3 of DraftKings 2021 guidance of $750M. https://imgur.com/a/xkfcayC What is striking when compared to $DKNG is that their advertising spend was only a quarter of revenue in Q3 while $DKNG spent 155% of their revenue. This will change as they begin to focus on growth, but it shows they are very good at getting return on ad spend. This company should actually be valued close to $DKNG based on growth potential once guidance is raised. https://imgur.com/a/RQQXtGg Their focus on attracting **female gamers** is also important to their long term growth potential. The sports book plays with cross sells to casino such as $DKNG will not be able to grow through the female demographic in the same way. **This cannot be understated** as one of the major strategic advantages of $RSI. https://imgur.com/a/xzJj26n As I said before I expect their trend of rapid growth to continue for Q4 earnings, certainly going to be a blow out based on looking at state gambling revenue numbers. My estimate is that their revenue will be around 110M for Q4. I also expect guidance to be raised to 500M for 2021 due to strong performance in existing markets and the recently opened Michigan market as well as their sports book launch in Virginia. https://imgur.com/a/ckTqHhh Short sellers have entered the chat The short interest on $RSI sits at 5.08 M shares as of 01/14/21 representing a 30% increase. Now why would a company already valued at 2.8 Billion and with a comparative valuation of 8-10 Billion compared with $DKNG and $PENN be so heavily shorted at such a low market cap? My conclusion is that an institution with 10s of millions to throw at shorting this stock wants to take advantage of fear of share dilution from warrant calling or to establish a better entry prior to earnings. Cathie Wood is Bullish on the sector On Feb. 2nd ARK disclosed that they had purchased 620,300 shares of $DKNG. This is extremely bullish for the sector. I am highly confident that after Q4 earnings ARK will be purchasing shares in $RSI as well due its strategic advantages relative to $DKNG and exposure to the female demographic. For such a small market cap company this will be a major catalyst. Final notes Jerome "The Bus" Bettis, Steelers legend and hall of fame running back, is their brand ambassador... This company knows their target audience and how to appeal to them, likely more 'classic' ambassadors to come to attract even more boomer and Gen X degenerates. Keep in mind these are the gamblers with big money to spend, the average age of an online casino gambler is 42. This stock has been grossly underpriced due to short selling. The terms of the SPAC deal were not unfavorable and all the insiders held their shares through the merger banking on growth in the market - **management owns 77% of the company**. This is a true value play on a well managed company in an emerging industry with a market size in the hundreds of billions. I plan to hold shares long term. I will post a part 2 breaking down their latest S-1 filing and Q4 revenue by state when they release their Q4 earnings date. Do your own research. References: https://www.legalsportsreport.com/sports-betting/revenue/ https://fintel.io/doc/sec-rush-street-interactive-inc-ex991-2021-january-05-18632-947 https://s26.q4cdn.com/794539746/files/doc_presentations/2020/RSI-Investor-Presentation-15-Oct-2020.pdf https://ir.rushstreetinteractive.com/news/news-details/2020/RUSH-STREET-INTERACTIVE-ANNOUNCES-THIRD-QUARTER-2020-RESULTS-AND-RAISES-FULL-YEAR-GUIDANCE/default.aspx https://www.youtube.com/watch?v=SQWEhWuPmzU https://www.thestreet.com/investing/draftkings-surges-as-stake-bought-by-ark-next-generation Positions: $RSI 03/19 30C I will be adding 04/16 25Cs each week until earnings Exit strategy: "What's an exit strategy?" - u/deepfuckingvalue Forgot to add: http://d18rn0p25nwr6d.cloudfront.net/CIK-0001793659/8f10b0d8-a3d2-447c-bc75-87587d0a4670.pdf Fidelity just doubled their position to almost 15% Update 021221: Everyone that went in on my initial entry is down 40% right now. As I said I plan to continue to buy 03/19 25Cs each week until earnings. If you’re worried about further losses wait until the day before earnings to load up, you may miss a run up though. Update 021321: IMPORTANT after a commenter pointed out that technically they could report as late as April 2nd I AM RECOMMENDING THAT EVERYONE ROLL OUT TO APRIL 16TH 35Cs
Prince Rainier III (1923-2005) Rainier’s mother, Princess Charlotte, was actually illegitimate. Her father Louis II, getting older and with no legitimate children, legitimized her and made her his heir. She never took the throne, and in fact renounced her rights to her son, Rainier, the day before his 21st birthday. Rainier became the Sovereign Prince of Monaco upon the death of his grandfather in 1949. During WW2, Rainier served in the Free French Army. During the 40s and 50s he was in a long term relationship with the French film actress Gisele Pascal. Rainier’s sister, Princess Antoinette, wanted her own son to ascend to the throne, and spread rumors that Pascal was infertile. The rumors along with her treatment by the press and public ended their relationship. After the war Monaco, a country who made its money primarily as a gambling origin, was in crisis as wealthy Europeans found their funds diminished after the war. To restore Monaco’s treasury Rainier decided to promote Monaco as a tax haven, and he personally took control of SBM (the company who owns the Monte Carlo Casino, Opera, and Hostel de Paris) in 1964. Prince Albert still retains a large share of the company and profits from it today. Marriage: Everyone knows this one. Rainier married American film star Grace Kelly in 1956. Their marriage is rumored to have been turbulent. It is said that Grace struggled with adjusting to royal life, regretted ending her film career, and that Rainier had extramarital affairs. Her children have stated that though she was a loving mother, they spent more time with nannies than with their parents. Grace's dress is iconic, but here you go if you want to revisit some photos from that day. Rainier smoked up to 60 cigarettes per day, and in the last years of his life his health steadily declined. On March 8th, 2005 he entered the hospital for a lung infection and by the end of the month he was on a ventilator suffering from renal and heart failure. On March 31st he officially announced his son Albert, as regent, and on April 6th he died. The Constitution Monaco’s constitution stated that Monaco is a constitutional monarchy ruled by the hereditary princes of the Grimaldi. If the reigning prince were to die without leaving a male heir, Monaco, according to the treaty, would be incorporated into France. In 2002, realizing he had a 43 year old bachelor son, Rainier amended the constitution to allow the crown to pass to his daughters should Albert not marry. Grace, Princess of Monaco (1929-1982) Grace was born in Philadelphia to an affluent and influential family. Her father was an Olympian and a Democratic nominee for Mayor of Philadelphia and was appointed by President Roosevelt as National Director of Physical Fitness. Her mother taught physical education at the University of Pennsylvania and coached women’s athletics at Penn. Her Uncle, George Kelly, was a Pulitzer prize winning dramatist, screenwriter, and director and used his influence to gain Grace admission to the American Academy of Dramatic Arts in New York. Grace became one of the biggest movie stars of her generation. In 1955 she was sent to the Cannes Film Festival and invited to appear in photos with Prince Rainier. After a year-long courtship, they were married in 1956. Grace was not allowed to continue her acting career after her marriage. She instead devoted herself to her role as Princess, become heavily involved with the Red Cross of Monaco and the Rainbow Children Coalition. On September 13, 1982, Kelly was driving back to Monaco after spending time at her country home. During the drive she had a stroke, lost control of her vehicle, and drove off the mountainside. She died a day later. An article on their relationship Prince Albert II (b. 1958) Prince Albert is one of the wealthiest royals in the world with a net worth at more than $1B. He attended Amherst College in Massachusetts, studying political science, economics, music, and English literature, and completed his education with a Bachelor of Arts degree in Political Science. He toured Europe in 1979 as part of the Amherst College Glee Club. Albert competed in the bobsleigh for five consecutive Winter Olympics on behalf of Monaco, and was their flag bearer at the 1988, 1994, and 1998 Olympics. He is also a judo black belt. He became Prince of Monaco when his father died in 2005. Marriage: Prior to his marriage his status as a bachelor was a hot topic of discussion. He was known to date well-known fashion models and actresses, however at age 53 had never married. It was rumored that Albert was gay, something he expressed great frustration with in the press. In 2006 he attended the opening ceremony of the Torino Olympics with South African swimmer Charlene Wittstock. They were engaged in 2010, and married in 2011. There are rumors that Charlene tried to flee the country the day before their wedding. It is reported that the future bride, after discovering Albert may have fathered yet another child during their relationship, attempted to flee as many as three times before their wedding, however was always intercepted at the airport. It is also said she attempted to seek refuge at the South African embassy, and that officials in Monaco ended up hiding her passport so she could not leave the country. Moreover, during their wedding, Charlene openly cried at parts, and Prince Albert was caught on camera begging her to kiss him. Honestly, she looked pretty miserable the whole time. The palace has denied all of these claims. During their honeymoon, they stayed in separate hotels Here's everything you ever needed to know about their wedding Watch it Prince Albert is passionate about the environment and an avid sportsman. Prince Albert speaks French, English, German, and Italian. He speaks English with basically no accent thanks to his American mother. Illegitimate Children In 2005, the day before Prince Rainier died, Albert publicly acknowledged he had fathered a son out of wedlock. In 2006, he confirmed he had also fathered a daughter. These children were barred from the line of inheritance because of a 2002 constitutional amendment requiring an heir’s parents to be married. Alexandre (b. 2003) Alexandre’s mother (Nicole Coste) was a flight attendant for Air France and met Prince Albert when he was a passenger on a flight. He asked for her number, the beginning of a years-long affair. The relationship ended at the insistence of Prince Rainier. Albert visited Alexandre and Nicole often, however when he refused to acknowledge Alexandre publicly, Nicole sold an interview and pictures to the media. Albert was in mourning for his father and made no public comment, but later did acknowledge paternity. Alexandre and Nicole live in France at an estate given to them by Albert. Jazmin (b. 1992) Jazmin’s mother, Tamara, met Albert while working as a waitress. Albert knew of Jazmin and visited her, however did not acknowledge her publicly until she was in high school to protect her identity. In 2006 the French magazine Voici published photographs of Jazmin and her mother on a visit to Monaco, outing her as Albert’s daughter. She has attended events with Albert and Charlene, and is listed as a sponsor for her father’s royal foundation. An interview with Jazmin Princess Charlene (b. 1978) Born in Zimbabwe, Charlene’s family relocated to South Africa in 1989. She represented South Africa at the 2000 Sydney Olympics, finished fifth in the 4x100 meter relay. Albert and Charlene met at the Mare Nostrum swimming competition in Monaco in 2000, however were not seen together until 2006. Charlene converted to Roman Catholicism for her wedding, and has learned French and Monegasque after her move to Monaco. She is an ambassador for the Special Olympics, patron of the South African Red Cross, and is passionate about sport. In recent news, she completed “the crossing” water bike challenge, a 180 kilometer water bike race for charity. An interview with Charlene and Albert on the 1st birthday of their twins Albert and Charlene have 2 children: Hereditary Prince Jacques *twin* (b. 2014) Princess Gabriella *twin* (b. 2014) Gabriella was born 2 minutes before her brother, however because of the constitution her brother will inherit the throne. They are super sweet together and you see them at events often. Princess Caroline of Hanover (b. 1957) Caroline is the eldest child of Rainier and Grace Kelly, however because of the constitution her brother, Albert, sits on the throne of Monaco. She served as de facto first lady of Monaco until the marriage of Albert and Charlene. Until the birth of her niece and nephew she was heir presumptive to the throne, although she had only held that title since 2005 after the change of the constitution to include female heirs. Caroline received her French baccalaureat in 1974, and received a degree in Philosophy from Sorbonne University. She is fluent in French, English, Spanish, German, and Italian. Her hobbies include horseback riding, swimming, and skiing. Marriages:
Marriage 1: Philippe Junot
Married Phillippe, a Parisian banker, in 1978. The couple divorced in 1980 with no children.
Marriage 2: Stefano Casiraghi
Married Stefano in 1983, the sportsman heir to an Italian industrial fortune. The two had to marry in a civil ceremony rather than a religious ceremony because Caroline, a Catholic, was divorced. Caroline was 3 months pregnant at the time of their wedding. They have three children:
Note: The Casiraghi’s are all very beautiful and very fashionable but I don’t want to go much into them here because they are so far down the line of succession. They’re fun to follow for their fashion if you have the time to check them out.
Marriage 3: Prince Ernst August of Hanover
Married Ernst August, a Prince, in 1999. They have one daughter, Princess Alexandra. Caroline is thus a Princess twice-over, through her family and through her husband. She and Ernst August have been separated since 2009 however are still legally married, thus she retains the title of Princess Caroline of Hanover. Read about all of her weddings here See her speaking in English around 12:00 here Princess Stephanie (b. 1965) Stephanie was in the vehicle with her mother when Grace died. She suffered a fracture of the neck. She has studied classical dance and piano, and competed in gymnastics and horse riding. She interned at Christian Dior and debuted as a model in 1984. She has a swimwear and perfume line, and owns cafes and stores in both Monaco and Barcelona. She also has sold more than 2 million copies of her song, Ouragan, and sold 1.5M copies of her album Besoin. She recorded “In the Closet” with Michael Jackson, however is listed as “mystery girl” in the credits. Marriages/Relationships:
Marriage 1: Daniel Ducruet
Stephanie married her former body guard, Daniel Ducruet, in 1995. When Rainier learned of their relationship Daniel was not only still his employee, but had a pregnant girlfriend too. Stephanie gave birth to their two children “out of wedlock” because Rainier refused to grant permission for them to marry, however eventually relented. The two divorced a year later after Ducruet was photographed naked with a stripper. Read more They have two children:
Stephanie and Jean never married, however have a child together. He was Rainier’s Head of Security. She did not identify him on the birth certificate and it was not confirmed that he was Camille’s father until she confirmed it herself on her Instagram. More about Jean
Marriage 3: Franco Knie
Stephanie met elephant trainer (yeah, you read that right) when she presented him with the award for “best animal tamer” at the Monaco Circus Festival in 1997. Franco, a decade older than Stephanie, was married with two children at the time. Franco left his family for Stephanie, moving her and her three children into his circus caravan in Zurich. Marrying in 2001, their relationship lasted 18 months until their divorce. An interview with Stephanie in English in 1990 Why is he a Prince and not a King? From vogue: It goes back deep into the history of Monaco. Monaco has always been a tiny nation, and, for protection, allied itself with (or, at some points, was flat-out annexed by) big powerful countries, with big powerful rulers—aka kingdoms, or, a nation ruled by a king or queen. So Monaco’s rulers styled themselves as prince and princess. That, by definition, made the nation a principality, or one ruled by prince or princess. Regardless, Albert actually plays a bigger role in the day to day operations of the country than most of his European peers. Legislative power is divided between the Prince who initiates the laws, and the National Council who votes on them. Executive power is retained by the Prince, and he has full judiciary powers. Jewels See their tiara collection I think the Ocean Tiara, gifted to Charlene for her wedding, is particularly interesting. You either love it or you hate it. The Grimaldi Curse What do you think?
The next Detroit: The catastrophic collapse of Atlantic City
With the closure of almost half of Atlantic City's casinos, Newark set to vote on gambling and casinos or racinos in almost every state, it seems as if the reasons for the very existence of Atlantic City are in serious jeopardy. Israel Joffe Atlantic City, once a major vacation spot during the roaring 20s and 1930s, as seen on HBOs Boardwalk Empire, collapsed when cheap air fare became the norm and people had no reason to head to the many beach town resorts on the East Coast. Within a few decades, the city, known for being an ‘oasis of sin’ during the prohibition era, fell into serious decline and dilapidation. New Jersey officials felt the only way to bring Atlantic City back from the brink of disaster would be to legalize gambling. Atlantic City’s first casino, Resorts, first opened its doors in 1978. People stood shoulder to shoulder, packed into the hotel as gambling officially made its way to the East Coast. Folks in the East Coast didn't have to make a special trip all the way to Vegas in order to enjoy some craps, slots, roulette and more. As time wore on, Atlantic City became the premier gambling spots in the country. While detractors felt that the area still remained poor and dilapidated, officials were quick to point out that the casinos didn't bring the mass gentrification to Atlantic City as much as they hoped but the billions of dollars in revenue and thousands of jobs for the surrounding communities was well worth it. Atlantic City developed a reputation as more of a short-stay ‘day-cation’ type of place, yet managed to stand firm against the 'adult playground' and 'entertainment capital of the world' Las Vegas. Through-out the 1980s, Atlantic City would become an integral part of American pop culture as a place for east coast residents to gamble, watch boxing, wrestling, concerts and other sporting events. However in the late 1980s, a landmark ruling considered Native-American reservations to be sovereign entities not bound by state law. It was the first potential threat to the iron grip Atlantic City and Vegas had on the gambling and entertainment industry. Huge 'mega casinos' were built on reservations that rivaled Atlantic City and Vegas. In turn, Vegas built even more impressive casinos. Atlantic City, in an attempt to make the city more appealing to the ‘big whale’ millionaire and billionaire gamblers, and in effort to move away from its ‘seedy’ reputation, built the luxurious Borgata casino in 2003. Harrah’s created a billion dollar extension and other casinos in the area went through serious renovations and re-branded themselves. It seemed as if the bite that the Native American casinos took out of AC and Vegas’ profits was negligible and that the dominance of those two cities in the world of gambling would remain unchallenged. Then Macau, formally a colony of Portugal, was handed back to the Chinese in 1999. The gambling industry there had been operated under a government-issued monopoly license by Stanley Ho's Sociedade de Turismo e Diversões de Macau. The monopoly was ended in 2002 and several casino owners from Las Vegas attempted to enter the market. Under the one country, two systems policy, the territory remained virtually unchanged aside from mega casinos popping up everywhere. All the rich ‘whales’ from the far east had no reason anymore to go to the United States to spend their money. Then came the biggest threat. As revenue from dog and horse racing tracks around the United States dried up, government officials needed a way to bring back jobs and revitalize the surrounding communities. Slot machines in race tracks started in Iowa in 1994 but took off in 2004 when Pennsylvania introduced ‘Racinos’ in an effort to reduce property taxes for the state and to help depressed areas bounce back. As of 2013, racinos were legal in ten states: Delaware, Louisiana, Maine, New Mexico, New York, Ohio, Oklahoma, Pennsylvania, Rhode Island, and West Virginia with more expected in 2015. Tracks like Delaware Park and West Virginia's Mountaineer Park, once considered places where local degenerates bet on broken-down nags in claiming races, are now among the wealthiest tracks around, with the best races. The famous Aqueduct race track in Queens, NY, once facing an uncertain future, now possesses the most profitable casino in the United States. From June 2012 to June 2013, Aqueduct matched a quarter of Atlantic City's total gaming revenue from its dozen casinos: $729.2 million compared with A.C.'s $2.9 billion. It has taken an estimated 15 percent hit on New Jersey casino revenue and climbing. And it isn't just Aqueduct that's taking business away from them. Atlantic City's closest major city, Philadelphia, only 35-40 minutes away, and one of the largest cities in America, now has a casino that has contributed heavily to the decline in gamers visiting the area. New Jersey is the third state in the U.S. to have authorized internet gambling. However, these online casinos are owned and controlled by Atlantic City casinos in an effort to boost profits in the face of fierce competition. California, Hawaii, Illinois, Iowa, Massachusetts, Mississippi, Pennsylvania and Texas are hoping to join Delaware, Nevada, New Jersey and the U.S. Virgin Islands in offering online gambling to their residents. With this in mind, it seems the very niche that Atlantic City once offered as a gambling and entertainment hub for east coast residents is heading toward the dustbin of history. Time will tell if this city will end up like Detroit. However, the fact that they are losing their biggest industry to major competition, much like Detroit did, with depressed housing, casinos bankrupting/closing and businesses fleeing , it all makes Atlantic City’s fate seem eerily similar.
Skill-Based Slot Machines: What Are They and How They Work?
For decades, spinning the reels of slot machines - whether at land-based or online casinos - has been reduced to pure luck and, apparently, no skill whatsoever. Players have been at RNG's mercy to either win or lose, which for most was both exciting and somewhat rewarding. However, new generations have started changing the face of gambling, slots in particular. Moving away from luck as a deciding factor of their wins, these generations have started asking for games that put their skills, reasoning, and capacities to test while still being fun – and that's how skill-based slots arouse.
What Are Skill-Based Slots?
Skill based slot machines are the newer breed of slots designed for everyone who would rather trust their skill over their luck, while still having fun - at least that’s how they are advertised. The outcome of skill-based slots should be based on the player's ability to play the game rather than how lucky they are. Skill slot machines also allow operators, game developers, and suppliers to design variable payback based on a comprehensive variety of identifiers.
The outcome of skill-based slots should be based on the player's ability to play the game rather than how lucky they are.
While regular slots' winnings involve a lot of player's luck and hardly any skill, skill slots are supposed to be predominantly skill, factor-wise. With skill-based slots, players start the game knowing that they will have a material effect on the outcome, i.e. how much money they can win, with better players getting rewarded with higher payback. Essentially, in answering what are skill machines, it is safe to say that they are games which resemble video poker or blackjack, as they give the player a chance to boost their profits solely with skill.
How Does a Skill-Based Slot Machine Work?
In comparison with how regular slot machines work, it is kind of difficult to give a definite observation on the matter as, basically, they operate the same way. Unlike regular slot machines, casino skill games feature bonus rounds that require skill to win. Also, some of these games don't necessarily require playing the skill-based round; instead, they offer the option of choosing between free spins and an interactive bonus.
How Slot Machine Skill Games Work?
Say you are playing a slot with a racing theme; this is how you would go about it:
When the bonus room is triggered, you choose the skill-based bonus
You race against other cars
The size of your payout gets determined by your finish
Skill based slot machines particularly stand out due to their unique bonuses.
What is the Difference Between Regular and Skill Based Slots?
Skill based video games, i.e. skill-based slots, are different from regular slot machines because they feature bonus rounds which include a high degree of skill. While the base mechanisms are the same for both, skill-based slots require some skill if the player is looking to score.
While the base mechanisms are the same for both, skill-based slots require some skill if the player is looking to score.
Regular slot machines work in a way that the player places a bet and spins the reels; then, the RNG (random number generator) delivers a combination, showing the results on the reels. Essentially, it is the RNG that determines the spin's fate. With traditional slots, players have almost no say in the outcome – they only decide the amount they'll bet and when they'll start/stop playing.
How Much is Actually Skill and How Much Pure Luck?
When we speak of skill-based gaming, it's safe to say that both are included, with the difference that, unlike traditional slots, skill-based slots do include competence.
What is the Difference Between Arcade Slot Machines and Skill Based Slots?
The younger generations don't remember it – but arcade games were the thing in gaming. New-age developers have decided to use the old trend, revamp it, and make it the basis of the majority of skill-based slot machines. The reason for this is, predominantly, millennial preferences. Millennials are not interested in luck deciding the course of their actions but are known to believe their own competence and rely on it. As skill-based slots haven't exactly grown in popularity in the past years, bonuses based on arcade games could be the best way to test if skill based gaming will become the new "it" of slots gambling.
Can You Make Money Playing Skill Based Slot Games?
Skill-based slots don't come with guaranteed profits despite the fact that your skills can result in earning more money. Why? When it comes to this type of games, the truth is - you won't raise RTP enough to guarantee winnings even if you're an expert at the bonus round. While players are given the option to include their skill in the whole concept of playing, these games are still programmed to give the house advantage over a player.
The Case of PA Skill Machines (Pennsylvania Skill Machines)
Pennsylvania Skill machines are the games you see at convenience stores, at bowling alleys, local pubs, and virtually all other fun-games-and-entertainment places. These games are allowed for 18-year-olds, while casino slot machines are strictly for those who are 21 years old, or older. Pennsylvania skill games are produced by Pace-O-Matic (POM or Pace O Matic), distributed by Williamsport, PA, -based-Miele Manufacturing. There are several games on offer:
A hypothetically unlockable bonus session
A tic-tac-toe-style puzzle
A "follow me" coloured dot-matching second phase of gameplay
If a player plays the Pace-O-Matic game successfully, they win a total of 105% of the original amount spent to play. Throughout the years, there have been talks whether the machines developed under the name "Pennsylvania Skill" should be considered regular slot machines or games of skill specifically. In the most recent ruling, it was announced that "video game machines manufactured and distributed by the POM under the name "Pennsylvania Skill" are considered slot machines under Pennsylvania law. However, Judge Patricia McCullough did not state that POM was in violation of the Gaming Act."
Currently, Pennsylvanian skill machines are considered legal.
But where does that leave things? Are Pennsylvania skill machines legal? Currently, they are considered legal. However, some people argue that the skill aspect is an illusion designed with the idea of floating Pennsylvania gambling laws. The same people, additionally, claim that a player can get lucky on both a regular slot machine and a skill-based one, and win – but that it would be luck in both cases, though.
Are Skill Slots the Future of the Slot Machine Industry?
Discussing whether skill slots are the future of the slot machine industry has to come with a degree of uncertainty as there are still plenty of unregulated and undefined things in this domain. While skill-based gaming sounds like a great idea on paper, the reality is different. Yes, skill-based slots give players the ability to decide their own gambling luck (in a way), but - skill alone doesn't always translate into success.
Skill-based slots give players the ability to decide their own gambling luck (in a way), but - skill alone doesn't always translate into success.
The optimum is that, based on how things are now, the future of slots looks close to placing an emphasis on social gaming (e.g. Angry Birds, Candy Crush, and Plants vs. Zombies, etc.) and console/computer games. Still, all further changes and upgrades remain to be seen.
Conclusion
Skill-based slots are a mixed bag of elements different to standard slots, but also a somewhat deceiving game as it sounds like it's giving players more power of the outcome than it actually does. Players are potentially able to influence 5% of the RTP through their abilities, but that is pretty much it. Skill slots differ from casino terminals in a way that they include some skill, the accent on "some". Skill slot machines don't actually give players a true chance to overcome the house edge, but that doesn't mean you can't have all the fun in the world just playing!
US equities higher: Dow +0.73%, S&P 500 +0.82%, Nasdaq +0.80%, Russell 2000 +0.80%
US equities higher in Tuesday morning trading after coming under pressure to start the week with the major indexes down ~1.5% on fairly broad-based weakness. Financials best performer with regional banks leading the upside on earnings (better NII takeaways). Consumer discretionary another standout with retail, autos and casinos among the bright spots. Not much dispersion elsewhere. Energy only sector lower. Treasuries mostly weaker with more curve steepening. Dollar stronger vs yen but weaker vs euro. Gold down 0.4%. WTI crude down 1%, near worst levels.
Fiscal stimulus continues to grab most of the attention. Pelosi and Mnuchin have continued to narrow their differences and the two sides will talk again today. However, there are still a number of big stumbling blocks, including the lack of appetite among Senate Republicans for a large stimulus package. Very quiet elsewhere. Politics the other big story with Biden up 9 points over Trump in the latest national poll but Trump cutting into Biden's lead in Pennsylvania. In terms of the coronavirus, MRNA-US CEO said its vaccine could get EUA in December, more mitigation measures in Europe and some focus in US on successful school reopenings.
Q3 earnings activity has picked up today with beat rates remaining elevated. According to FactSet, more than 86% of the companies that have reported earnings thus far have surpassed consensus EPS expectations. In aggregate, earnings are beating the consensus by more than 18%, not far from the record beat rates seen in Q2. Companies leveraged to at-home themes continue to report some of the strongest results though bar has moved higher. Outside of earnings, more energy M&A may be on tap with PXD-US reportedly in talks to acquire PE-US . INTC-US sold NAND business to SK Hynix for just over $9B. DOJ to file widely anticipated antitrust lawsuit against GOOGL-US today.
Notable Gainers:
+16% LOGI-US (Logitech): Big fiscal Q2 beat and company raised FY guidance; Street takeaways positive, highlighting work-from-home and stay-at-home tailwinds; also discussed strong growth across segments, record GMs on volumes, mix, and reduced promotions, and second straight guidance increase.
+8.3% CCK-US (Crown Holdings): Q3 earnings and revenue beat; NA results boosted by accelerating beverage-can shipment growth; raised FY EPS guidance; said will initiate a dividend in Q1'21 and expects to opportunistically repurchase shares in 2021.
+6.6% RF-US (Regions Financial): Q3 EPS beat with the focus on NII upside (NII pressure a big overhang on bank-stock performance last week despite earnings beats), in-line NIM performance, fee income upside on strength in mortgages and lower provisions and NCOs.
+6% IQV-US (IQVIA Holdings): Q3 earnings and revenue beat with guidance mostly ahead; company to resume share buybacks; analysts noted strength in Technology & Analytics segment though R&D Solutions weaker.
+5.7% CMA-US (Comerica): Big Q3 EPS beat on lower provisions/good credit quality, better fee income and lower expenses; in addition, NII was largely in line with expectations, which was considered a positive; some moving pieces in guidance but deemed largely in line.
+4.5% PNR-US (Pentair): Q3 earnings and revenue beat; highlighted strength in residential markets (particularly Pool business); Industrial & Flow results not as bad as feared; management noted some stabilization commercial/industrial trends; raised FY20 guidance.
+2.9% ACI-US (Albertsons): Big fiscal Q2 EPS and EBITDA beat; ID sales up 13.8% , helped by 243% growth in digital sales and increase in store sales; margin expansion another bright spot; guided FY20 EPS and EBITDA above the Street, highlighting meaningful tailwind for product demand and overall basket size from the coronavirus; authorized $300M share repurchase program.
+2.2% TRV-US (The Travelers Cos): Q3 core revenue, EPS beat; loss and expense ratios both better than estimates; net premiums written also beat on Personal segment upside; analysts noted catastrophe losses smaller than expected, highlighted renewal rate strength even with price increases.
-11.4% AMC-US (AMC Entertainment): Entered into new 15.0M share at-the-market equity distribution agreement; reported weaker-than-expected preliminary Q3 revenues and said it expects to take material non-cash charges relating to the impairment of long-lived assets, indefinite-lived intangible assets and goodwill.
-6.4% IBM-US (IBM): Q3 EPS and revenue in line with 8-Oct guidance; GM beat, but pre-tax margin missed; analysts said both top and bottom lines missed consensus adjusting for FX, taxes, flagged weaker Mainframe, Red Hat revenue trends.
-4.2% SYF-US (Synchrony Financial): Q3 earnings missed; RSAs and NII/NIM weaker than consensus; expenses higher than the Street; provision lower than expected with credit metrics somewhat better; yesterday announced extension of deal with Sam's Club.
-4% HXL-US (Hexcel): Q3 earnings, revenue, and margins missed; ongoing weakness from all segments with sequential decline in Commercial Aerospace; cautioned channel adjustments could take another two or three quarters to work through; offered no guidance.
John Gilbride Jr.-murdered on September 7, 2002 in Maple Shade, New Jersey- “He's been raised by MOVE his whole life. I hope when he gets older, he'll ask questions. I want him to know that his father fought for him.”
The execution-style murder of former MOVE member, 34 year old John Gilbride Jr., in Maple Shade, New Jersey on September 27, 2002 remains unsolved. MOVE is a black liberation group founded in 1972 in Philadelphia, Pennsylvania by John Africa (born Vincent Leaphart) and Donald Glassey, a social worker student from the University of Pennsylvania. In a 2018 Guardian article about the group, MOVE's political views were described as "a strange fusion of black power and flower power which melded the revolutionary ideology of the Black Panthers with the nature- and animal-loving communalism of 1960s hippies.” John’s father, Jack, believes the organization has “blood on its hands” and had his son followed after he fled the movement. Alberta Africa (now Wonderlin), John’s ex-wife and the ex-wife of MOVE founder John Africa, claims that John is alive and “forgoing any contact with the son he was fighting for in court for a life of seclusion, courtesy of the U.S. government” surmising “maybe he went off the deep end or something and is hiding somewhere….he seemed like he was deeply involved in the government.” Jack stated that it is hurtful Alberta still makes those kinds of statements since he identified his son's body, attended his funeral, and buried his cremated remains saying he “could only wish…she knows more than anyone else that it isn't true." According to the Burlington County Prosecutor’s office, the case is still an open investigation. John, a baggage supervisor for U.S. Airways, was found dead inside his Ford Crown Victoria at 12:08 a.m. outside the Ryan's Run apartment complex in Maple Shade, New Jersey. The killer fired multiple bullets into John’s head and chest at close range from an automatic weapon after which the individual then disappeared into the highways adjacent to the apartment complex leaving behind John’s personal belongings. Police believe the killer knew his schedule because “they were there at the perfect time” noting they shot him just as he was coming home from work late at night and “the purpose was to take his life, nothing else.” John was scheduled to have his first unsupervised visit with his 6- year old son Zackary later the next day-a visit that Jack claims Alberta and other MOVE members had threatened to stop. After a Philadelphia judge decided that John should have unsupervised time with Zackary, MOVE vowed to fight the order and boarded up windows at its Philadelphia headquarters. They also held a rally at the Cherry Hill municipal building protesting the custody order saying the judge’s order was “an attempt to persecute the group and that Cherry Hill police were helping.” John had mentioned to his father that he felt his life was at risk and he knew “he was taking a big gamble.” Before Alberta married John, she was the widow of John Africa, founder and leader of the controversial radical group MOVE. John Africa and 5 other adults and 5 children died in May 1985 when Philadelphia police dropped a bomb on MOVE’s Osage Avenue rowhouse headquarters after a day-long standoff. Given the group's turbulent history, Alberta said police would have arrested MOVE members by now for John’s death if they had evidence saying “we are not murderers.” John first learned about MOVE as a student at Temple University in the late 1980s and later joined the organization. During one of John's visits from college, Jack suspected John was under a "new influence" as during a drive around the neighborhood, John mused "this is nothing...these big houses, this money, it doesn't mean anything; this surprised Jack as John's "goal in life had always been to become a millionaire and drive a Cadillac." In 1991, John announced he was going to live in MOVE's headquarters and seeing that they could nothing to dissuade him, Jack decided to "keep communication open and maintain whatever relationship John would allow them" using an 800 number to keep in contact. In the fall of 1992, John married Alberta, who was twice his age, against his family's wishes; the family, nonetheless, felt the wedding should be celebrated so they all went to dinner at Ruth's Chris Steakhouse in Philadelphia. Jack noted that "at no time did we sympathize with MOVE but in order to have a relationship with John, we did what we had to do." The name of the group (MOVE) is not an acronym and was chosen by John Africa “to say what they intended to do” as in "everything that's alive moves…if it didn't, it would be stagnant, dead"; as an example, when members greet each other they say "on the MOVE.". The group combined revolutionary ideology with animal rights and “advocated a return to a hunter-gatherer society” based on vegetarianism while remaining “opposed to science, medicine, and technology.” John’s followers changed their surnames to Africa to “show reverence to what they regarded as their mother continent.” John Africa and MOVE members lived in a communal house in the Powelton Village section of West Philadelphia. As activists, they staged bullhorn-amplified, profanity-laced demonstrations outside their homes against institutions that they opposed, such as zoos, circuses, “Three Mile Island”, “puppy mills” and police brutality. MOVE made compost piles of garbage and human waste in their yards which attracted rats and cockroaches that they refused to kill as they "considered it morally wrong to kill the vermin with pest control.” MOVE activities were scrutinized by law enforcement particularly under the administration of Philadelphia Mayor Frank Rizzo, a former police commissioner known for hard stance against activist groups. Mayor Rizzo threatened in 1978 to dispatch his Police Department to MOVE's Powelton Village headquarters "to drag 'em out by the back of their necks." In 1978, complaints from neighbors about "profanity-laced tirades, arms stockpiling, garbage piled in the yard, and naked children" led to a standoff with members of the group who had not vacated their rowhouse headquarters; a resulting shootout took the life of a police officer and put nine MOVE members in prison for life. In 1981, MOVE relocated to a row house at 6221 Osage Avenue in the Cobbs Creek area of West Philadelphia. Neighbors again complained to the city about trash around their building, confrontations, and the obscene political messages by bullhorn. In 1985, the police obtained arrest warrants in 1985 charging four MOVE occupants with crimes including parole violations, contempt of court, illegal possession of firearms, and making terrorist threats; by now, Mayor Wilson Goode and police commissioner Gregore J. Sambor had classified the group as a terrorist organization. Residents of the area were evacuated from the neighborhood and told to return after 24 hours. On Monday, May 13, 1985, nearly five hundred police officers attempted to clear the building and execute the arrest warrants. Water and electricity were shut off in order to force MOVE members out of the house and Commissioner Sambor exhorted them to come out stating "Attention MOVE: This is America. You have to abide by the laws of the United States." When the MOVE members did not respond, the police decided to forcibly remove the members from the house. There was an armed standoff with police who lobbed tear gas canisters at the building. The MOVE members fired at them, and a gunfight with semi-automatic and automatic firearms ensued. Police went through over ten thousand rounds of ammunition when Commissioner Sambor decided the rowhouse could be bombed. From a Pennsylvania State Police helicopter, Philadelphia Police Department Lt. Frank Powell dropped two one-pound bombs made of FBI-supplied Tovex, a dynamite substitute, which targeted a fortified, bunker-like cubicle on the roof of the house. The resulting explosions ignited a fire from fuel for a gasoline-powered generator stored in the rooftop bunker. The fire spread and eventually destroyed 61 nearby houses. Officials said they feared that MOVE would shoot at the firefighters so they were held back. John Africa and 5 other adults and 5 children died. There were only two survivors; a child, Birdie Africa and an adult woman, Ramona Africa. John Gilbride eventually left the movement and filed for divorce from Alberta in 1999 which led to years of heated court battles over custody of Zackary; John also filed for bankruptcy. John had gone deep into debt paying for in-vitro fertility treatments as they were desperately trying to have a child. John had also grown frustrated with "MOVE's meddling in his marriage" which "staged hours-long interventions" whenever the couple argued. According to Jack, the timing of the murder and the custody dispute is “more than a coincidence.” Philadelphia Police Captain William Fisher, the head of the department’s civil rights division who knows the MOVE leaders well, stated that John’s murder “seemed like a textbook mob hit” and John had a gambling problem and other enemies as well; Jack dismisses Captain Fisher’s claims saying he did a "disservice to the investigation" and “was simply trying to ease the department’s relationship with MOVE”. Captain Fisher continues to doubt that MOVE was involved saying Jack wants to think that “MOVE did it because it solves his problem…I’m a parent too, and it’s an emotional thing.” He believes a professional gunman could have known of John’s problems with MOVE and could have timed the murder accordingly saying if MOVE was involved, they would not have “outsourced the job to someone outside their organization.” He acknowledges “there was a lot of rhetoric and everything else, but keep it in perspective, it's a child custody thing” saying MOVE's members "defend themselves when needed but do not go out and kill people." Captain Fisher suggested a trip to Las Vegas a few days before his death needed to be looked into further; Jack avers John went to Las Vegas for an Earth, Wind, and Fire concert. John also had a "secret..and brief" second marriage to Rosario Bienvenida Arias-a 24-year-old casino dealer from the Dominican Republic. They married in Maryland on April 25, 2002, but, according to the annulment initiated by John May 19,2002, "she used him and then fled the country." The marriage had not been "nullified by the time John died, so as his widow, Rosario-not Zack-collected death benefits." Others disagree such as former MOVE supporter Tony Allen who runs an anti-MOVE blog; he believes MOVE would never have put someone in their closest family circles at risk by killing John and would have given that task to a supporter saying “my hope is that there's people in and about MOVE whose consciences will eat away at them." Burlington County Prosecutor Robert Bernardi mentioned that MOVE members had been questioned in the investigation but did not comment further. In 2012 the Philadelphia Inquirer reported that John had told friends and family that he had recorded incriminating evidence in a notebook as "security against a hit" by MOVE. John said he had placed the notebook inside a locker for safekeeping. Jack confirmed one of John’s coworkers had contacted him and he tried to get police to search the locker but to no avail. At the time, Prosecutor Bernardi had no comment when pressed on the topic. It is unclear if the locker was ever searched. In a 2009 news article, Jack mentioned that he continues to speak with investigators every three weeks but acknowledged "they get tired of telling me there's nothing new." Zackary, at the time 13 years old, was “a happy home-schooled teen, active in swimming and fencing.” In the interview, Alberta admitted that her son continues to miss his father recalling how they “found a picture of his dad, and he just fell into me..he's a big boy, but he was in tears. She also says "the tears she cried for John were real in 2002" and she continues to feels his absence noting that she remarried after John’s death, “not out of love, but to give her son a stable home.” Jack said “his life has been anything but stable” since his son's death. His wife, Fran, died of cancer two years after his son was killed, and he speaks to Zack only once every three to six months. He knows that “wishing his son were still alive is pointless” so he focuses on resolving the case so Zack can come back into his life saying “he's been raised by MOVE his whole life. I hope when he gets older, he'll ask questions. I want him to know that his father fought for him." Anyone with information about John’s murder can contact the Burlington County Prosecutor's Office at 609-265- 7113. Questions: Do we know more about John's gambling debts and other enemies he supposedly had? There is much discussion on the MOVE angle but I really couldn't find much information on any other theories besides the statement made by Captain Fisher. Was John's locker ever searched? Links: https://www.inquirer.com/philly/news/20090926_Slaying_of_ex-MOVEr_still_roils_feelings_7_years_later.html https://www.theintelligencer.com/news/article/Man-in-Custody-Battle-Shot-to-Death-10572580.php https://www.inquirer.com/philly/blogs/inq-blinq/A-clue-hidden-in-a-lost-locker.html https://www.inquirer.com/philly/hp/news_update/20140928_A_slain_man__a_lost_son_and_a_grandfather_s_quest.html https://culteducation.com/group/1060-move/14601-breaking-silence-over-a-sons-slaying.html https://en.wikipedia.org/wiki/MOVE#2002_murder_of_John_Gilbride http://antimove.blogspot.com/2012/09/?m=1 https://www.religionnewsblog.com/4623/unsolved-death-angers-move-grieves-parents https://www.vox.com/the-highlight/2019/8/8/20747198/philadelphia-bombing-1985-move https://www.inquirer.com/philly/entertainment/20131020_A_haunting_look_at_when_Phila__burned.html https://www.nytimes.com/2013/10/02/movies/let-the-fire-burn-relives-1985-siege-of-the-move-group.html https://www.phillymag.com/news/2014/02/27/birdie-africa-lost-boy/ http://kalamu.com/neogriot/2015/05/13/history-lest-we-forget-today-is-the-30th-anniversary-of-the-bombing-of-move/ MOVE has been “an anomaly in Philadelphia ever since it was founded, in the mid-1970s, by a white graduate student who became enthralled with the musings of a local black handyman who took the name John Africa and held beliefs ranging from vegetarianism to odd bathing rituals to preparation for worldwide racial conflict.” Several city officials were reprimanded in an investigation which called “dropping a bomb on an occupied row house…unconscionable” but none were criminally charged for the bombing. The 61 destroyed homes were rebuilt with government funds ($35 milion) but the houses were eventually condemned since a potential carbon monoxide leak was found in the heating systems. In 2000, the city paid again to buy out the residents and move them. Ramona Africa, the only adult who came out of the house fire alive (along with 13-year old Birdie Africa), served seven years in prison for her role in the confrontation. As she stood outside MOVE's current house in 2013, she dismissed the notion that the home had code violations stating “they say it is a fire hazard but the only fire MOVE has ever been involved with is the one the city of Philadelphia set on May 13, 1985."
Making Sense out of Suffering - Disabled kid starved to death, etc.
Titled after Peter Kreeft's Making Sense out of Suffering, I recall he points out that God became man and suffered to show compassion, solidarity, that he cares, presumably that our lives are worthwhile ... Yet what is God actually doing? Consider this news report, for example, of a disabled kid left to die in Philadelphia, Pennsylvania a few years ago:
June 12, 2015 Friday, CITY-D Edition of the Philadelphia Iniquirer The parents of a disabled 3-year-old girl who starved to death in their West Oak Lane home pleaded guilty to third-degree murder Thursday. Carlos Rivera and Carmen Ramirez each pleaded guilty to third-degree murder and conspiracy in the Sept. 9, 2013, death of daughter Nathalyz, and charges including conspiracy and child endangerment involving the care of the girl's four siblings, ages 3 to 9. Common Pleas Court Judge Sandy L.V. Byrd set sentencing for Sept. 4. Both Rivera, 32, and Ramirez, 28, entered open guilty pleas, meaning there was no agreement with the District Attorney's Office about the sentence they will receive. Assistant District Attorney Gwenn Cujdik said Rivera and Ramirez could end up spending the rest of their lives in prison. Cujdik said the four surviving children, including Nathalyz's twin brother, are now in foster care. The condition of Nathalyz's 11-pound body at death caused the judge at the couple's preliminary hearing last year to liken her to "an Auschwitz child" - eyes sunken; body covered in bedsores; bones visible through her skin; and only patches of hair on her head. She was born with a genetic disorder that left her partly blind and unable to talk, walk, or roll over. Photos of the home where Nathalyz and her siblings lived with their father showed trash, broken furniture, and garbage strewed about. The refrigerator was broken, and the only food or drink in the house was a half-empty milk carton and a dirty baby bottle with no nipple. Nathalyz and her brothers and sisters slept together on a bedbug-infested mattress. Police said Rivera and the children lived there two months after Ramirez left to live with a boyfriend. Nathalyz's siblings later told a city social worker they rarely got more than one meal a day, and medical records showed they had not seen a doctor in 21/2 years. Cujdik said Ramirez also pleaded guilty to theft charges involving the children's monthly disability checks, totaling $2,130, used for partying and casino gambling. [[email protected]](mailto:[email protected]) 215-854-2985 u/joeslobo www.philly.com/crimeandpunishment
https://heavy.com/news/2013/09/nathalyz-rivera-3-year-old-starved-dead/ https://www.cbsnews.com/news/pa-parents-charged-with-starvation-murder-of-3-year-old-daughter-who-weighed-11-pounds/ It's like fodder for Ricky Gervais ("God's busy giving AIDS to African babies"), all too willing to articulate what you might say the devil puts into the mind: "Oh, sure, God will wait for a kid to die in agony and THEN he'll intervene to save the rest." It raises the question: What kind of God are you serving? Apparently, a God who refuses to explain things to us, who implies in Job that our reality is simply too great for our limited minds to understand -- but then why do we feel instinctively that this "should not have happened" if God wills to let it happen? Should we not instead have some instinct, "It's strange but for the best according to God's mysterious will"? Why should we punish these parents if God watches and lets them do it?
Per this Trib story, it was business as usual at the casino as of yesterday. The CDC is advising people to avoid crowds and practice social distancing. Ohio and Maryland closed their public schools yesterday to help mitigate the spread of the Coronavirus. The NBA and NHL have suspended theor seasons. But the casinos are still open. The state or the PA Gaming Commission should close all of them now. I couldn't find any reliable numbers on the total number of visitors that go through the casino. This 2019 PG article notes that there are over 1,700 employees at The Rivers and speculated that thousands of people visit on the weekends. I've only been in there a couple times, but the visitors seemed to skew on the old side, especially around the slot machines. I think it's safe to assume that thousands of people--many of whom are at high risk of dying if they contract the Coronavirus--pass through the casino every week. By their nature, slot machines are touched by many different people. Keeping them clean is going to be an extremely difficult task, especially while people are breathing, coughing, and sneezing nearby. Table games pose similar challenges because people are constantly handling chips, cards, and surfaces. People come to the Rivers from all over the area. There's a big indoor smoking section. Older people, especially smokers are hit especially hard by the Coronavirus. Casinos pose a unique risk to patrons, employees, their families, and communities. The casinos have financial incentives to stay open until they are forced to close. It is dangerous to keep them open. It's time for the state to act.
DraftKings (DKNG) is a BUY at $20 - Well Positioned for U.S. Market Leadership and Weathering the COVID-19 Crisis.
CORRECTION: DKNG IS A SMALL POSITION BUY AND WATCH Due to the nature of the reverse merger IPO, we did a data check on our automated market cap pull, which actually turned out to be >$3.3B. Because of this, the P/S ratio is now >8.2, meaning is priced high compared to its competitors. However, there is a lot of positive sentiment, as we outlined, for DKNG which could drive its stock price higher as people price in future value. We are going to take a small position at market open and continue to watch DKNG closely and dollar cost average over time. Apologies for any confusion our initial post may have caused. The reverse merger IPO is not common and therefore a lot of databases do not accurately reflect the actual market cap for DKNG right now. Buying at $10 per share is more reasonable. --- While we primarily focus on biotech, we are opportunistic investors and love to invest in high-growth startups that are revolutionizing their industries. DraftKings (DKNG) is a high-growth startup that recently IPO'd through a reverse merger last Friday and saw a 10% increase in value on their first day of trading, ending the day with a market cap of $950M. DKNG's IPO amid the pause of sports during the COVID-19 crisis has some people scratching their heads, but after conducting an opportunity assessment and financial diligence on DKNG, we believe it is a BUY and is well positioned to continue leading online sports betting and also breaking into the online casino space. Here's why we think DKNG is well positioned as a growth stock:
DKNG is in close competition with FanDuel for market leadership in U.S. sports betting. When consumers were asked to list companies offering daily fantasy sports and sportsbetting, DKNG was top of mind for a quarter of interviewees while it was the preferred brand for almost a third of consumers. We personally conducted several consumer interviews on their preferred daily fantasy sports and sports betting companies and DKNG ranked top, with consumers citing the platform as more "user-friendly." Furthermore, consumers cited more attractive promotions with better odds offered by DKNG than FanDuel in order to drive user adoption and retention. In a competitive space like this, it's promising that DKNG is focused on customer acquisition and retention.
DKNG is quick to penetrate markets upon online sports betting legalization. DKNG has a track record of moving quick to acquire customers when states legalize online sports betting. For example, DKNG moved quick to win the exclusive bid in New Hampshire and quickly turned online in Pennsylvania when legalization occurred. While DKNG is surely no longer a startup, their talented and driven team is versatile and quick to address make-or-break situations that allow them to take market share quickly. With so many states on the cusp of legalizing online sports betting, it's easy to see upside and growth potential in online sports betting. DKNG is well positioned to take a significant share of that growing market.
DKNG's diverse set of offerings allow them to weather the sports shutdown caused by COVID-19. While DKNG is known for daily fantasy sports and sports betting, it's diversified greatly into e-sports (e.g., League of Legends, Counter-Strike) and online casino (e.g., Blackjack). In the month of March, internet gaming revenue (excluding sports wagers) in New Jersey rose 66% in March, to $65 million. Clearly, while sports are out of commission, DKNG will benefit from the rise in online gambling and the continued interest in e-sports betting.
DKNG is positioned to expand the online casino industry by making online gambling mainstream. Daily fantasy sports and online sports betting is arguably much more mainstream than online casino gambling. Consumers perceive fantasy sports and sports betting to be a skill and information-based game while online casino gambling as sheer luck. DKNG is positioned to link the two together by bringing consumers onto the platform through daily fantasy sports and sports betting and having them dip their toes in the online casino through promos. The adjacency of its sports betting and online casino offerings creates a powerful pipeline that has the opportunity to make online casino gambling more mainstream and DKNG may be at the forefront of it.
The reverse merger provided $500M in cash to DKNG, which will help DKNG through the COVID-19 crisis. In the reverse merger, DKNG has access to $500M in cash, which is enough to cover its average operating costs for approximately 2.5 years. There may be headcount cuts to look out for as they've hired significantly in the past two years and their general & administrative costs has increased almost 100% since last year. However, DKNG's increased cash position with the reverse merger will definitely help it weather through the suspension in sports.
At $20 per share, DKNG is fairly priced compared to its competitors based on its price-to-sales ratio (P/S). DKNG has a P/S of 2.9 compared to Stars Group, FanDuel, and Churchill Downs, which have P/S ratios of 4.1, 3.7, and 2.6 respectively. DKNG is more similar to Stars group and FanDuel given they have more of an online presence and higher growth potential. Churchill Downs on the other hand owns several horse racing tracks and is less poised for growth and therefore has a lower P/S ratio.
Overall, we perceive DKNG as a buy. It's currently a leader in the space and is well positioned to maintain leadership in the U.S. market with its fast-moving team and diverse offering of games. While COVID-19-driven suspension of sports is concerning, the company has money on hand from the reverse merger IPO and has several revenue streams that are not impacted by the suspension of sports. As long as states continue to lift online sports betting and gambling restrictions, DKNG will be waiting to charge into the new markets.
DraftKings (DKNG) is a BUY at $20 - Well Positioned for U.S. Market Leadership and Weathering the COVID-19 Crisis.
CORRECTION: DKNG IS A SMALL POSITION BUY AND WATCH Due to the nature of the reverse merger IPO, we did a data check on our automated market cap pull, which actually turned out to be >$3.3B. Because of this, the P/S ratio is now >8.2, meaning is priced high compared to its competitors. However, there is a lot of positive sentiment, as we outlined, for DKNG which could drive its stock price higher as people price in future value. We are going to take a small position at market open and continue to watch DKNG closely and dollar cost average over time. Apologies for any confusion our initial post may have caused. The reverse merger IPO is not common and therefore a lot of databases do not accurately reflect the actual market cap for DKNG right now. Buying at $10 per share is more reasonable. --- While we primarily focus on biotech, we are opportunistic investors and love to invest in high-growth startups that are revolutionizing their industries. DraftKings (DKNG) is a high-growth startup that recently IPO'd through a reverse merger last Friday and saw a 10% increase in value on their first day of trading, ending the day with a market cap of $950M. DKNG's IPO amid the pause of sports during the COVID-19 crisis has some people scratching their heads, but after conducting an opportunity assessment and financial diligence on DKNG, we believe it is a BUY and is well positioned to continue leading online sports betting and also breaking into the online casino space. Here's why we think DKNG is well positioned as a growth stock:
DKNG is in close competition with FanDuel for market leadership in U.S. sports betting. When consumers were asked to list companies offering daily fantasy sports and sportsbetting, DKNG was top of mind for a quarter of interviewees while it was the preferred brand for almost a third of consumers. We personally conducted several consumer interviews on their preferred daily fantasy sports and sports betting companies and DKNG ranked top, with consumers citing the platform as more "user-friendly." Furthermore, consumers cited more attractive promotions with better odds offered by DKNG than FanDuel in order to drive user adoption and retention. In a competitive space like this, it's promising that DKNG is focused on customer acquisition and retention.
DKNG is quick to penetrate markets upon online sports betting legalization. DKNG has a track record of moving quick to acquire customers when states legalize online sports betting. For example, DKNG moved quick to win the exclusive bid in New Hampshire and quickly turned online in Pennsylvania when legalization occurred. While DKNG is surely no longer a startup, their talented and driven team is versatile and quick to address make-or-break situations that allow them to take market share quickly. With so many states on the cusp of legalizing online sports betting, it's easy to see upside and growth potential in online sports betting. DKNG is well positioned to take a significant share of that growing market.
DKNG's diverse set of offerings allow them to weather the sports shutdown caused by COVID-19. While DKNG is known for daily fantasy sports and sports betting, it's diversified greatly into e-sports (e.g., League of Legends, Counter-Strike) and online casino (e.g., Blackjack). In the month of March, internet gaming revenue (excluding sports wagers) in New Jersey rose 66% in March, to $65 million. Clearly, while sports are out of commission, DKNG will benefit from the rise in online gambling and the continued interest in e-sports betting.
DKNG is positioned to expand the online casino industry by making online gambling mainstream. Daily fantasy sports and online sports betting is arguably much more mainstream than online casino gambling. Consumers perceive fantasy sports and sports betting to be a skill and information-based game while online casino gambling as sheer luck. DKNG is positioned to link the two together by bringing consumers onto the platform through daily fantasy sports and sports betting and having them dip their toes in the online casino through promos. The adjacency of its sports betting and online casino offerings creates a powerful pipeline that has the opportunity to make online casino gambling more mainstream and DKNG may be at the forefront of it.
The reverse merger provided $500M in cash to DKNG, which will help DKNG through the COVID-19 crisis. In the reverse merger, DKNG has access to $500M in cash, which is enough to cover its average operating costs for approximately 2.5 years. There may be headcount cuts to look out for as they've hired significantly in the past two years and their general & administrative costs has increased almost 100% since last year. However, DKNG's increased cash position with the reverse merger will definitely help it weather through the suspension in sports.
At $20 per share, DKNG is fairly priced compared to its competitors based on its price-to-sales ratio (P/S). DKNG has a P/S of 2.9 compared to Stars Group, FanDuel, and Churchill Downs, which have P/S ratios of 4.1, 3.7, and 2.6 respectively. DKNG is more similar to Stars group and FanDuel given they have more of an online presence and higher growth potential. Churchill Downs on the other hand owns several horse racing tracks and is less poised for growth and therefore has a lower P/S ratio.
Overall, we perceive DKNG as a buy. It's currently a leader in the space and is well positioned to maintain leadership in the U.S. market with its fast-moving team and diverse offering of games. While COVID-19-driven suspension of sports is concerning, the company has money on hand from the reverse merger IPO and has several revenue streams that are not impacted by the suspension of sports. As long as states continue to lift online sports betting and gambling restrictions, DKNG will be waiting to charge into the new markets.
Mount Pocono is the location for this gambling institution that features in the list of best casinos in Pennsylvania owing to 62,000 square feet of gaming space. This permits the institution to offer 1800 slot machines along with more than 70 types of table games like roulette, blackjack, and craps. Aside from the highlight of casino gaming, this resort also has an 18-hole golf course. Today, Pennsylvanians have 11 interactive online casino sites to choose from, and the internet products are finding favor among Keystone residents as they continue to remain under strict COVID-19... Pennsylvania casino revenue plunges in 2020, but there are positive signs for sports and interactive wagering Pennsylvania casinos had revenue of $2.66 billion in 2020, down 21.5% from $3.39 ... There is a wide variety of activities that you can participate in for gambling in Pennsylvania. Right now, we will concentrate on casinos and what you can do there, but there is also the ability to visit a sportsbook and bet on sports. The main activities in a casino when it comes to gambling can be divided into table games, slots and racetrack betting if the facility is present. Below you can see some key facts about Pennsylvania gambling. #1 of 1 Casinos & Gambling in Erie “ And especially for the larger casinos , PENNSYLVANIA’s Erie Casino is by far offers the most variety of gaming, is clean with a massive interior. “ the horse track is wonderful and i love how close you can get to the horses to see them before the race starts. The minimum gambling age is 18 for pari-mutuel betting and 21 at casinos. All Pennsylvania casinos are open 24 hours. Regulatory Organizations The Pennsylvania Gaming Control Board began in 2004 and is responsible for overseeing all land-based and online casinos in the state. This includes testing out different games and making sure each casino abides by the state laws to operate. It’s especially good news for these three PA casinos, for which online gambling may mean the difference between a prolonged drought and prosperity. PA casinos that stand to gain the most from online gambling. Brick and mortar casinos in Pennsylvania have hit their first real stumbling block since the industry went live in 2006. A $208 million renovation effort dramatically transformed Pocano Downs into not only Pennsylvania's first casino, but the area's leading enterntainment complex. With 82,000 square feet of gaming space holding 2,300 slot machines, 90 table games and a 218-room, 20-suite hotel, Pocono Downs offers countless opportunities for gaming fun. The hotel and entertainment center’s unique architecture is inspired by the landscape, flora, wildlife, natural resources and personality of the Susquehanna ... CASINOS in PENNSYLVANIA (PA) - 2021 up-to-date List - CasinosAvenue Bensalem Parx Racing & Casino Right next to the Parx Horse Track Racing is the Parx Casino, one of the biggest casino of the region. The large and spacious gambling floor houses around 3,330 from clas … There are 12 brick-and-mortar casinos in Pennsylvania that offer slots, tables games, poker, horse racing and sports betting. They stretch from north to south and east to west, with options available to residents and visitors throughout the state. They currently fall into three categories: racinos, stand-alone casinos and resort casinos.
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