PNB Week in Review: Kassela for Congress, Bitcoins and more
According to MotherJones.com, Frank Kassela, an army reservist who went from running his own medical uniform supply company to winning two World Series of Poker bracelets will be running for Congress, hoping to win the seat currently held by Republican Joe Heck, in Nevada’s 3rd congressional district, one of the few remaining swing districts in the country.
According to the article, Kassela will be running as a democrat, and must first win a primary. Should Kasella win the seat it will be interesting to see how hard he pushes for poker legislation (if at all).
You can support Kassela’s run for Congress here: https://fk14.nationbuilder.com/
Is Canada moving to Bitcoin currency?
The answer to that question would be a resounding NO, but on Tuesday morning the Waves Coffee House in Montreal became the first location of a Bitcoin ATM machine, that will allow users of the virtual currency to convert their Bitcoins into cash and vice versa.
Considering Bitcoins are a little understood cyber currency it should come as no surprise that use of the ATM requires the futuristic scanning of a person’s palm according to a Reuters article:
“It’s as easy as walking up to a machine, scanning your hand, entering some cash and buying bitcoin,” said Jordan Kelley, chief executive of Las Vegas-based Robocoin, the company that builds the ATMs. “With this, it’s a 2-minute process. For any online exchange, it’s at least two days.”
Bitcoins have exploded in value this year, previously seen as the latest “fail” currency. Bitcoins traded for a couple dollars apiece before rocketing up to being worth hundreds of dollars each (and making some people very rich in the process) and currently trade for about $200.
Foxwoods and MGM end their licensing agreement in Connecticut
Oh my; what happened? Why would they end their mutually beneficial relationship? Actually, this news has nothing to do with their Connecticut partnership and everything to do with Massachusetts, as both companies are looking to build Brick & Mortar casinos just an hour to an hour and a half north of Foxwoods’ Connecticut location.
“Today the Mashantucket Pequot Tribal Nation and MGM Resorts International announced the dissolution of their previous licensing agreement for the use of the MGM Grand brand at Foxwoods Resort Casino. The parties have agreed that there will be a six-month period for Foxwoods to transition from using the MGM Grand brand.”
According to the report, MGM is concerned the proximity of the Foxwoods MGM Grand to their proposed MGM Casino in Springfield, MA would cause confusion, as MGM spokesman Clark Dumont told BusinessWeek.com, the company “wants to avoid confusing consumers…”
The MGM Grand at Foxwoods has been a boon for the casino, bringing in high-end restaurants, shops, and casino clientele since it opened in 2008. Foxwoods plans to rebrand the tower.
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