Pennsylvania State Representative John Payne (R - District 106) has introduced an online gaming expansion bill in the House of Representatives. Payne’s bill, (HB 649) would only legalize online poker in Pennsylvania - not all forms of online gambling - although the legislation seems to leave the door for a more comprehensive approach. The bill currently has 18 other cosponsors. Not to be outdone, days later a new Read More
Give It Away Now
What does the most fundamental concept in asset protection planning have to do with a Red Hot Chili Peppers song from the early 1990s? http://www.youtube.com/watch?v=Mr_uHJPUlO8 The first and most fundamental step in almost any asset protection plan is to give away your assets. Well, it's not necessarily accurate to say you give them away, but you typically transfer them. You make it so that you don't own them Read More
An Ace That You Can Keep
Most people who are old like me are familiar with the Kenny Rogers song "The Gambler". The premise of the song generally is that life involves a series of decisions that require us to analyze risk and reward, much like gambling. Historically in the United States, opponents of gambling have cited reasons such as increased crime, gambling addition, religious prohibitions, regressive taxation, and the other usual Read More
Calling All In Transit
Most of us who work in the world of open innovation and crowd sourcing are familiar with leveraging the power of the collective to come up with new consumer product ideas or solutions to scientific or technical challenges. But how often do we see organizations using the crowd to save the world (and why don't we see it more often)? Recently, Humanity United and the United States Agency for International Development Read More
The Split is (Not) Bananas
One of my favorite sources for internet gambling news, iGaming Business, is reporting that shares in bwin party have jumped 24% recently following rumors the group was thinking about splitting up into regulated- and unregulated-focused operating entities. I hope this is true and if it is I applaud whatever genius came up with this idea. Why would I use a term like "genius" to describe this idea? Because I thought Read More
The Hypocrisy of the United States Gambling Laws
Gambling is for the most part under the jurisdiction of state law in the US, and every state has laws that relate to gambling. Some form of legal gambling is permitted in 48 of our 50 states, however only one state (Nevada) has legalized most forms of gambling on a state-wide basis. Gambling has been a vital part of American society since the 18the century, and the general trend is that the availability of and Read More
Lifetime Brands – an Open Innovation Success Story
You might not recognize the name "Lifetime Brands", but you almost certainly will recognize their brands: Farberware, KitchenAid, Mikasa, Cuisinart, and Pfaltzgraff are only a handful of the recognizable names under which Lifetime sells its wares. In fact, you probably have a number of their products in your kitchen. I have been to their headquarters and seen their showroom - it's like a kitchen junkie's dream come Read More
¿Qué pasa Spain?
I figured since I recently referenced France in one of my posts, I would give Spain equal time. Historically, in most places in the world, spending on gambling hasn't been significantly affected by fluctuations in the economy. A recent report from the Charles III University of Madrid (UC3M) states that People in Spain are spending less on gambling now than they have done in previous years. Igaming Business recently Read More
What's the "Ultimate" Las Vegas Casino?
What's the "Ultimate" Las Vegas Casino? For some of you Las Vegas veterans (or residents), names like Bellagio or Caesar's might immediately leap to mind. Some might say Wynn or Rio, or relative newcomers like Cosmopolitan or Aria. All are fine properties of course, but thanks to the Nevada Gaming Control Board, all eyes should be focused right now on Station Casinos. Station Casinos owns Ultimate Gaming, which, Read More
