The newest member of the state commission that will oversee casino gambling said he would be willing to take riversweeps full weight of the panel’s authority, including subpoena, to ensure that the casinos are financially stable.
Enrique Zuniga, 45, was named after the Gambling Commission on Monday by state treasurer Steven Grossman, who cited Zuniga’s broad financial experience and expertise in the public and private sectors.
A resident of Mexico who lives with his wife and two children in Jamaica Plain, Zuniga is director of the Massachusetts Water Pollution Prevention Trust, a state riversweeps agency that finances clean water projects, and contributed to the creation of the state Schoolhouse Authority. He was also a manager for six years at the accounting firm Ernst & Young.
Zuniga becomes the third member to the five-member panel, which rewards licenses for up to three casinos and a slots salon and the regulation of the Massachusetts gambling industry.
When asked how the panel would put casino companies under pressure to come clean with all their relevant financial data, Zuniga noted that the new state law gives the riversweeps committee the strongest of the control authority.
“The commission has subpoena power, and I would call that the nuclear bomb or audit clauses. All you have to do is mention it and force compliance, “he said.
Grossman, who was assigned by law to choose a panel member with a financial background, said a casino proposal should work as a business proposal.
“We can’t afford to have any Twin Rivers in Massachusetts or any states that have some states around the country,” he says.
The Twin River slots salon in Lincoln, RI, Chapter 11 bankruptcy in 2009 after struggling to repay about riversweeps $ 600 million in debt. In the meantime, it has turned out to be a bankruptcy with an aim of adding casino-style gambling.
Governor Deval Patrick is named Stephen Crosby, a UMass professor and former government budget head, as chairman of the committee. Attorney General Martha Coakley has the name Gayle Cameron, a former New Jersey State Police investigator, on the panel.
Patrick, Grossman and Coakley should jointly name the last two members in March 21.
Margin of victory in the casinos
Every game in casinos and online casinos has a certain advantage for the house. This is the basis for every casino otherwise they would all be close. About 18% of the money that is wasted in casinos is real profit.
Depending on the game, this advantage is larger or smaller. It is good advice to avoid a margin of more riversweeps than 3%. Playing with a good strategy can greatly reduce this advantage and you can play any casino game.
We will provide an overview of all games.
Roulette has a margin of 1.35% to 2.7% and you don’t need any skill to win.
Blackjack has a 1% advantage and you need skills to win.
Stud Poker has a benefit of around 2.5% and you hardly need any skill to win.
The game of baccarat has an advantage that is around 1.20%.
Craps or dice has a margin that can be as high as 16%.
Progressive Poker has a 3.45% advantage riversweeps and no skill is needed to win.
Sic Bo has a margin of more than 18% and the wheel of luck has a margin that passes the 20%.
In every game there are ways to bet and each bet is rewarded separately. The margin of benefit for riversweeps the casino is determined by making the numbers smaller than the odds.