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Its a Boomer play, but its guaranteed money: $GE Leaps

So, this DD isn't actual TA. It is a series of (what I believe) are very safe assumptions: a combination of political analysis, energy trends, and inevitable nation-wide "must have" investments. WARNING: this is long. By necessity, one assumption leads to another. I'll give you the one sentence TLDR up front, but because this is an assumption-chain, I encourage you to read this post
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TL/DR:
In order for Biden to get a quick win for what is looking like unfavorable (to Dems) 2022 midterms, he will first shoot for a massive infrastructure bill. Either way Georgia goes, Dems won't blow up the filibuster. Therefore, if he wants to have any "green" policies in his first term, he has to make it super amenable to Republicans. (1) Connecting **rich** renewable areas (mostly Republican states) by extensive HVDC lines to (2) an enhanced nationwide Grid (HVDC lines) will kill two birds with one stone. This ^ infrastructure is inevitable, either way. $GE is the #1 and only American HVDC provider, 220k workers +. $GE Renewables don't contribute to revenue right now, but HVDC + Wind (which will be yuge) make it a massive discount rn.
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I am going to lay down a series of linear assumptions and realities below. I feel like these assumptions are all safe, therefore, it is highly likely that the outcome I describe comes to fruition within the next 4 years.
  1. EVs are going to see mass adoption. Every automaker + Apple is trying to get in on this. BEV advantages are simply too great. It is highly likely that by 2025, 30% or more of the U.S. fleet will be electric. This will only continue to 2030.
  2. This will cause big increases in demand on the grid. Go google around: Grid owners are ecstatic about this. The average American home uses ~33 kWh of energy per day. I own a model 3, and BARELY drive (i dont commute) and still use ~10kWh per day for driving. A commuter may use around 30-35 kWh per day just to drive. By 2025, if ~30% of the U.S. fleet is electric, that'll cause a significant increase in grid demand. More important, though, is that energy generation investment takes time. Grid owners know this is coming. They will beef up generation faster and faster as the U.S. economy becomes more electrified instead of based on fossil fuels.
  3. Added capacity is likely to be green. This has 2 causes. (1) Finance: Coal isn't cost competitive with solar and wind anymore. Solar is getting very, very cheap and more and more efficient. Offshore wind is having a renaissance. Nuclear is greener, but more expensive (~$4,200 per kW), and NIMBYism will prevail. Solawind + batteries is cheaper than $4,200 per kW right now. Additionally, Alaskan oil can't even get bank financing now, and Coal isn't expanding. People see the end is near. (2) Politics. Dem administration for the next 4 years, and green energy isn't the political football it was 10 years ago. Fighting renewables isn't the focus of the right anymore. Additionally, Democrats resist natural gas expansion: remember the Keystone pipeline? Natural gas is pretty green and cheap af, but its not everywhere, and I deem it unlikely that population centers (NE Corridor, Cali, Chicago, etc etc) are going to be OK with more and more natural gas plants. I deem it unlikely that we're gonna be a 50%+ natural gas country.
  4. Biden will do an infrastructure bill. This will happen. Its popular, its needed, and its perfect for his huge desire to be seen as a bipartisan president.
  5. Biden will try and include moderate green elements in this bill because he knows he won't get green policies otherwise. Even if the two Georgia seats go blue, there is **ZERO** chance the Dems blow the filibuster. You have (1) a president that won by a narrow margin, that (2) isn't that popular, (3) who has a bad-looking 2022 midterm, that (4) won't run in 2024 cause hes ancient, with (5) a not-too-popular VP, can't afford to run roughshod over norms and weaken their 2022 prospects. 50-50 plus Kamala casting the deciding vote? Please. Not happening.
  6. Green elements in an infrastructure bill will have to benefit Red states in order to get passed. We're not gonna get a carbon tax / cap and trade system. We're not gonna get massive oil taxes
  7. A lot of Red states are RICH in renewables. Look at these maps (https://www.nrel.gov/gis/solar.html) for U.S. solar, and this map (https://energy.maryland.gov/Pages/Info/renewable/windmaps.aspx) for U.S. wind. What do you notice? For the most part, there are huge wind opportunities in the Midwest. There is huge solar potential across Texas and the South. Outside of California and Northeast Corridor offshore wind, renewables are concentrated in the Midwest and South.
  8. Right now, we can't take full advantage of these areas because the infrastructure to transport 2025-2030 sized energy demands to population centers don't exist. This is key. Right now, the U.S. energy grid is largely disconnected in terms of HVDC lines (high voltage lines capable of transmitting huge amounts of power with minimal loss: it resembles small, little fiefdoms. Google "U.S. HVDC Map" (make sure you're looking at the current ones--not the projections). We don't have that much HVDC infrastructure. In this past, there wasn't a huge emphasis because there wasn't that much need....renewables price efficiency didn't make for THAT compelling of a need, and localized Grid owners made-do with the status quo. HVDC network improvement is INEVITABLE. Renewables are too cheap, and the efficiencies inherent in concentrating wind and solar where appropriate are too vast. Right now, as you read this, there is an UNDERSEA Ultra HVDC cable being laid between Australia and Singapore to transport solar power. I shit you not. Europe and China are building vast HVDC and Ultra HVDC lines right now. Look at this wiki page: https://en.wikipedia.org/wiki/List_of_HVDC_projects. See how many are in Asia/Euro vs the U.S.? Its a fucking joke. It is extremely unlikely that we're gonna just slap solar and wind where they are sub-optimal, rather than seek greater ROI. Mass HVDC lines are inevitable.
  9. General Electric is the only large American HVDC provider. GE employs 200,000+ Americans. It is literally one of the oldest American companies. It has a super American brand name, and is politically connected.
  10. HVDC is expensive. I'm not an expert, but because of NIMBY, its likely that a lot of HVDC will be buried along rail lines (From what I read). HVDC between hundreds of wind/solar fields across the U.S. will need to be built, plus HVDC / Ultra HVDC between renewable zones to NE Corridor, Chicago, California. I'd google around for figures, but basically, its $$$$$$$$$.
  11. Right now, General Electric's Renewables sector barely brings in any revenue (17% 2019 revenue, around $15 billion https://www.statista.com/statistics/245430/revenue-of-general-electric-by-segment/#:~:text=Aviation%20and%20power%20are%20the,U.S.%20dollars%20one%20year%20before.). The new CEO is actually pretty fucking great (https://en.wikipedia.org/wiki/H._Lawrence_Culp_Jr). He turned Danaher around, and is setting up GE for success. GE has a TON of debt (debt/equity above 6.0), but what will happen to the stock when GE is given absolutely gigantic contracts in order to buff up the U.S. Grid? They really are the only American company with the production/size ability to do this. What happens when the GE Renewables sector grows by 4-5x over the next 10 years? Grid improvements + Wind turbines are going to go up bigly. That $15 billion revenue line item may increase dramatically.
If you read this far, let me restate that this isn't TA. I don't have strikes for you. I don't know how to value HVDC and Wind over the next decade. However, I have a STRONG feeling in my nips that $GE is going to be a major American comeback story, and ^ that political/economic/renewable trends make it exceedingly likely that GE will have huge grid contracts coming up. How much of this is already baked into the price? I have no idea, but I do know that the big boys don't gamble on Adderall rantings like this, so it probably isn't baked in.
I'm using GE to add some safety to my current 100% TSLA portfolio. I encourage you all to pick up at least a few cheap 2022 GE Leaps. I'm buying the furthest out, highest strike calls I can get.
submitted by IS_JOKE_COMRADE to wallstreetbets [link] [comments]

TEKK - Tekkorp Digital Acquisition Corp: Who's Who of Gaming Mgmt Teams!

Team has been involved in a substantial number of the digital media, sports, entertainment, leisure and gaming industries’ most significant merger and acquisition transactions, holding key positions at, and transacting with Scientific Games Corp, Inspired Gaming Group, FOX Bets, Ocean Casino Resort, Resorts International Holdings, PokerStars, DraftKings, Mohegan Sun, Caesars Entertainment Corporation, Harrah’s Entertainment, Tropicana Entertainment, Inc., TSG/Sky Betting & Gaming, Facebook, Inc, Wynn Resorts, Dubai World/MGM Resorts
Here's all the Bios. These guys are stellar! TEKK closed at $10.30 today. Still cheap!
If you don't like to read... you don't like to make money!!!!
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Matthew Davey — Chief Executive Officer and Director
Mr. Davey has over 25 years of experience within the digital media, sports, entertainment, leisure and gaming ecosystems, as well as experience in the public sector. He is an experienced public company executive officer and board member. He has served in executive management positions across the gaming technology arena. Over the course of Mr. Davey’s career, he oversaw more than ten mergers and acquisitions and over $1.2 billion in debt and equity capital raised to support the companies he has led.
Most recently, Mr. Davey was Chief Executive Officer of SG Digital, the Digital Division of Scientific Games Corp. (“Scientific Games”) (Nasdaq: SGMS). SG Digital was established following the purchase by Scientific Games of NYX Gaming Group Limited (“NYX”) (formerly TSXV: NYX), where Mr. Davey served as Chief Executive Officer and Director. The NYX acquisition provided Scientific Games with a vehicle to significantly accelerate the scale and breadth of its existing digital gaming business, including the strategic expansion into sports betting. In his capacity as Chief Executive Officer of NYX, Mr. Davey developed and implemented a corporate strategy that generated strong revenue growth. Mr. Davey shaped company strategy to focus on digital gaming supplier platforms and content that provided various gaming operators with the underlying gaming and sports betting systems for their online gaming business. In 2014, Mr. Davey oversaw the initial public offering of NYX, and his experience in the digital media, sports, entertainment, leisure and gaming industries helped NYX recognize momentum as a public company. After the public offering, from 2014 to 2018, Mr. Davey oversaw seven acquisitions which helped establish NYX as one of the fastest growing global B2B real-money digital gaming and sports betting platforms. These acquisitions included:
• OpenBet: In 2016, NYX completed the $385 million acquisition of OpenBet. This was one of the more complex and transformative acquisitions that Mr. Davey oversaw at NYX. Through securing co-investments from William Hill (LSE: WMH), Sky Betting & Gaming and The Stars Group (formerly Nasdaq: TSG, TSX: TSGI), Mr. Davey was able to get the acquisition from Vitruvian Partners completed successfully, winning the deal against much larger and well capitalized competitors. By combining two established and proven B2B betting and gaming suppliers, NYX was well positioned to provide customers with exciting player-driven solutions across all major product verticals and distribution channels. This allowed NYX to become the leading B2B omni-channel sportsbook platform in the market and the supplier to over 300 gaming operators globally with an extensive library of desktop and mobile game titles, including more than 700 on NYX platforms and more than 2,000 on the OpenBet platform.
• Cryptologic/Chartwell: In 2015, NYX completed the $119 million acquisition of Cryptologic and Chartwell. The acquisition provided NYX with more than 400 titles of additional leading gaming content, a broader customer base, and direct exposure to PokerStars and Intercasino, part of the Gamesys Group (LSE: GYS) — two of the world’s largest online casino offerings.
• OnGame: In 2014, NYX completed the distressed acquisition of OnGame, a premier poker content, platform and service provider. This acquisition provided NYX with one of the best poker products in the industry, access to several regulated jurisdictions, and a valuable talent pool that was instrumental in the growth of NYX. The addition of OnGame further established a path for NYX to continue its growth in both European and U.S. markets.
These acquisitions, together with meaningful organic growth, increased NYX’s revenue from $24 million in 2014 to $184 million annualized in 2017. During that time, Mr. Davey helped build NYX to have over 200 customers in the global gaming industry and a team of 1,000 employees. Mr. Davey’s success at NYX ultimately led to its sale to Scientific Games for $631 million in 2018.
Mr. Davey joined Next Gen Gaming, the predecessor to NYX, in 2000 as the Vice President of Technology, was appointed as Executive Director in 2003 and named Chief Executive Officer in 2005. Prior to that, he was the Senior Consultant for Access Systems, a company that specializes in the provision of back-end software for licensed online casinos. Prior to joining Access, Mr. Davey worked for the Northern Territory Government specializing in matters pertaining to the internet and e-commerce along with roles in the Department of Racing and Gaming. Mr. Davey received a Bachelor of Electrical & Electronic Engineering from Northern Territory University, Australia (also known as Charles Darwin University).
Robin Chhabra — President
Mr. Chhabra has been at the forefront of corporate acquisition activity within the digital gaming landscape for over a decade. His prior experience includes leading corporate strategy, M&A, and business development at two of the global leaders in the digital gaming industry, The Stars Group (“TSG”) and William Hill, and a leading supplier, Inspired Gaming Group (Nasdaq: INSE). Mr. Chhabra served on the Group Executive Committees of each of these companies. From 2017 to May 2020, Mr. Chhabra served as Chief Corporate Development Officer at TSG and, from 2019 to August 2020, he also served as the Chief Executive Officer of Fox Bet, a leading U.S. online gaming business which is the product of a landmark partnership between TSG and FOX Sports, a transaction which he led. During that period, Mr. Chhabra led several transactions which transformed TSG into the largest publicly listed online gambling operator in the world by both revenue and market capitalization and one of the most diversified from a product and geographic perspective with revenues of over $2.5 billion. Mr. Chhabra’s M&A experience is extensive and covers multiple global geographies across the digital gaming value chain and includes the following:
• TSG/Flutter Entertainment Merger: In 2019, Mr. Chhabra led the TSG M&A team that was responsible for TSG’s $12.2 billion merger with Flutter Entertainment (LSE: FLTR). The merger between TSG and Flutter Entertainment is the largest transaction in the digital gaming industry to date. The combination created the largest publicly listed online gaming company with approximately 13 million active customers and leading product offerings, which include sports betting, online casino, fantasy sports and poker. The combined entity includes some of the world’s most iconic digital gaming brands such as Fanduel, Fox Bet, Sky Bet, PaddyPower, Betfair, PokerStars and SportsBet. TSG/Flutter Entertainment is one of the most geographically diverse digital gaming and media companies with leading positions in the United States, United Kingdom, Australia, Ireland, Italy, Spain, Germany and Georgia.
• TSG/Sky Betting and Gaming (“SBG”): In 2018, Mr. Chhabra led the acquisition of SBG from CVC Capital Partners and Sky plc, Europe’s largest media company, in a transaction valued at $4.7 billion. At the time of the acquisition SBG was the largest mobile gambling operator in the United Kingdom and one of the fastest growing of the major operators having doubled its online market share in three years. The acquisition of SBG provided TSG with (a) greater revenue diversification, significantly enhanced expertise and exposure to sports betting just ahead of the judicial overturn of The Professional and Amateur Sports Protection Act of 1992 (PASPA) by the U.S. Supreme Court, (b) a leading position within the United Kingdom, the world’s largest regulated online gaming market, (c) improved products and technology as a result of the addition of SBG’s innovative casino and sports book offerings and a portfolio of popular mobile apps, and (d) expertise in deeply integrating sports betting with leading sports media companies, positioning TSG to create more engaging content, deliver faster growth and decrease customer acquisition costs.
• William Hill (LSE: WMH): At William Hill, from 2010 to 2017, Mr. Chhabra served as Group Director of Strategy and Corporate Development where he led several transactions which contributed to William Hill’s transformation from a land-based gambling operator in the United Kingdom to a leading online-led international business. Mr. Chhabra led William Hill’s entry into the U.S. sports betting and online lottery markets with the acquisition of four businesses, including the simultaneous acquisitions of three U.S. sportsbooks, Cal Neva, American Wagering and Brandywine Bookmaking, in 2011 for an aggregate purchase price of $55 million. These businesses ultimately led William Hill to achieve a leading position in the U.S. sports betting market with a market share of 24% in 2019. Additionally, Mr. Chhabra played a key role in structuring William Hill’s successful joint venture with PlayTech Plc (LSE: PTEC) in 2008. The combined entity created one of the largest online gambling businesses in Europe at the time of its formation and led to William Hill’s buyout of Playtech’s interest for $637 million in 2013. Prior to the transaction, William Hill had struggled in its attempt to establish a strong online gaming platform and a meaningful presence outside the United Kingdom.
Mr. Chhabra has also successfully completed four transactions worth over $1.2 billion in Australia, the world’s second largest regulated online gambling market, and various partnerships in Asia. Additionally, he completed several technology and media related transactions, including William Hill’s investment in NYX, where he worked with Mr. Davey on NYX’s transformational acquisition of OpenBet.
Prior to working in the gaming sector, Mr. Chhabra was an equities analyst and a management consultant. Mr. Chhabra received a Bachelor of Science in Economics from the London School of Economics and Political Science.
Eric Matejevich — Chief Financial Officer
Mr. Matejevich is a seasoned gaming executive with extensive experience in both the online gaming and traditional casino industries. From February to August 2019, he served as Trustee and Interim-Chief Executive Officer of Ocean Casino Resort (“Ocean”) (formerly Revel Casino, which had a construction cost of $2.4 billion) in Atlantic City, where he successfully led the management team through an ownership change and operational turnaround effort. Over the course of seven months, Mr. Matejevich managed to reduce the property’s weekly cash burn of $1.5 million to an annualized cash flow run rate in excess of $20 million.
Prior to Ocean, from 2016 to 2018, Mr. Matejevich served as the Chief Financial Officer of NYX. At NYX, he focused his efforts on integrating the company’s many acquisitions and multiple debt refinancings to simplify its capital structure and provided liquidity for growth initiatives. Additionally, Mr. Matejevich was instrumental to the executive team that sold NYX to Scientific Games for $631 million.
Prior to NYX, from 2004 to 2014, Mr. Matejevich was the Chief Financial Officer of Resorts International Holdings and later, from 2011, also the Chief Operating Officer of the Atlantic Club Casino, a property under the Resorts International Holdings umbrella — a Colony Capital (NYSE: CLNY) entity. As Chief Financial Officer, he provided managerial oversight for all finance functions for a six-property casino company with annual gaming revenue exceeding $1.3 billion, 10,000 gaming positions, 7,000 hotel rooms and over 11,000 staff members during his tenure. Mr. Matejevich led the transition effort to integrate a four-casino, $1.3 billion acquisition from Harrah’s Entertainment and Caesars Entertainment (Nasdaq: CZR). As Chief Operating Officer of Atlantic Club, he lobbied for and was successful in obtaining the first internet gaming legislation passed in the United States. The Atlantic Club was the sole New Jersey casino proponent of the legislation.
Prior to serving in various gaming positions, Mr. Matejevich was a Vice President of High Yield Research for Merrill Lynch, where he managed the corporate bond research effort for the gaming and leisure sectors and marketed high yield and other debt transactions totaling $4.8 billion. Mr. Matejevich received a Bachelor of Science in Economics from The Wharton School and a Bachelor of Arts in International Relations from The College of Arts and Sciences at the University of Pennsylvania.
Our Board of Directors
Morris Bailey — Chairman
Over the past 10 years, Mr. Bailey has been a leader in turning around Atlantic City, as well as being among the first gaming executives to embrace online gaming and sports betting in the United States. In his efforts, Mr. Bailey partnered with two of the largest digital gaming companies in the world, PokerStars, part of the Stars Group, and DraftKings (Nasdaq: DKNG). In 2010, Mr. Bailey bought Resorts Atlantic City (“Resorts”) and initiated a comprehensive renovation which allowed for the property to be rebranded and repositioned. In 2012, Mr. Bailey signed an agreement with Mohegan Sun to manage the day-to-day operations of the casino. In addition to Mohegan Sun’s operational expertise and ability to reduce costs via economies of scale, Resorts gained access to their robust customer database. Soon thereafter, Mr. Bailey and his team focused on bringing online gaming to the property. In 2015, Resorts established a platform to engage in online gaming by partnering with PokerStars, now part of the $24 billion Flutter Entertainment, PLC (LSE: FLTR), to operate an online poker room in Atlantic City. In 2018, Resorts announced deals with DraftKings and SBTech to open a sportsbook on-property and online. For 2020 year-to-date, Resorts has performed in the top quartile in internet gross gaming revenue in New Jersey. Mr. Bailey’s efforts in New Jersey helped set the framework for expansion of online sports and gaming throughout the United States.
In addition to his gaming interests, Mr. Bailey has over 50 years of experience in all facets of real estate development, asset M&A, capital markets and operations and is the founder, Chief Executive Officer and Principal of JEMB Realty, a leading real estate development, investment and management organization. Mr. Bailey has notable investment experience within the energy, finance and telecommunications sectors through investments in the Astoria Energy Plant, Basis Investment Group and Xentris Wireless.
Tony Rodio — Director Nominee
Mr. Rodio has nearly four decades of experience in the gaming industry. Most recently, Mr. Rodio served as the Chief Executive Officer and director of Caesars Entertainment Corporation (“Caesars”) (Nasdaq: CZR), one of the world’s most diversified casino-entertainment providers and the most geographically diverse U.S. casino-entertainment company, from April 2019 until its acquisition by Eldorado Resorts, Inc. in July 2020. Mr. Rodio led Caesars through its $17.3 billion merger with Eldorado Resorts, one of the largest transactions in the gaming industry to date. Additionally, Mr. Rodio was instrumental to Caesars’ expansion into the digital gaming industry and oversaw the implementation of new digital segments such as its Scientific Games powered retail sportsbook solution that now operates in various states throughout the U.S. From October 2018 to May 2019, Mr. Rodio served as Chief Executive Officer of Affinity Gaming. Prior to Affinity Gaming, he served as President, Chief Executive Officer and a director of Tropicana Entertainment, Inc. (“Tropicana”) for over seven years, where he was responsible for the operation of eight casino properties in seven different jurisdictions. During his time at Tropicana, Mr. Rodio oversaw a period of unprecedented growth at the company, improving overall financial results with net revenue that increased more than 50% driven by both operational improvements and expansion across regional markets. Mr. Rodio led major capital projects, including the complete renovation of Tropicana Atlantic City and Tropicana’s move to land-based operations in Evansville, Indiana. Each of these initiatives, among others, generated substantial value for Tropicana. Ultimately, Mr. Rodio’s efforts at Tropicana led to its sale to Eldorado Resorts in 2018 for $1.85 billion. Prior to Tropicana, Mr. Rodio held a succession of executive positions in Atlantic City for casino brands, including Trump Marina Hotel Casino, Harrah’s Entertainment (predecessor to Caesars), the Atlantic City Hilton Casino Resort and Penn National Gaming. He has also served as a director of several professional and charitable organizations, including Atlantic City Alliance, United Way of Atlantic County, the Casino Associations of New Jersey and Indiana, AtlantiCare Charitable Foundation and the Lloyd D. Levenson Institute of Gaming Hospitality & Tourism. Mr. Rodio brings extensive knowledge of and experience in the gaming industry, operational expertise, and a demonstrated ability to effectively design and implement company strategy. Mr. Rodio received a Bachelor of Science from Rider University and a Master of Business Administration from Monmouth University.
Marlon Goldstein — Director Nominee
Mr. Goldstein is a licensed attorney with nearly 20 years of experience in the gaming space. He joined The Stars Group (Nasdaq: TSG)(TSX: TSGI) in January 2014 as its Executive Vice-President, Chief Legal Officer and Secretary until his retirement from the company in July 2020 following the merger of TSG with Flutter Entertainment, PLC (LSE: FLTR). Mr. Goldstein also previously served as the Executive Vice-President, Corporate Development and General Counsel of TSG. Mr. Goldstein was also the senior TSG executive based in the United States and was one of the primary architects of TSG’s strategic vision for its U.S.-facing business. During his tenure, TSG grew from an approximately $500 million market-cap company to an approximately $7 billion market-cap company through a combination of organic growth and strategic mergers and acquisitions. Mr. Goldstein participated in numerous M&A transactions and capital markets offerings at TSG, including several transformational transactions in the digital gaming industry. Notable transactions in which Mr. Goldstein was involved include:
• TSG/Flutter Merger: In 2019, TSG merged with Flutter for a $12.2 billion transaction value, the largest transaction in the digital gaming industry to date.
• TSG/Fox Bet Partnership: In 2019, TSG entered into a partnership with FOX Sports to create FOX Bet in the U.S., a leading U.S. online gaming business. Wall Street Research estimates an approximate $1.1 billion valuation for Fox Bet post-partnership with The Stars Group.
• TSG/Sky Betting & Gaming: In 2018, TSG acquired Sky Betting & Gaming, the largest mobile gambling operator in the United Kingdom at the time, for $4.7 billion.
• TSG/CrownBet and William Hill: In 2018, TSG simultaneously acquired CrownBet and William Hill, two Australian operators, for a total of $621 million in a multi-part transaction.
• TSG/PokerStars and Full Tilt Poker: In 2014, TSG acquired The Rational Group, which operated PokerStars and Full Tilt and was the world’s largest poker business, for $4.9 billion.
Through his ability to legally structure large and complex transactions, Mr. Goldstein was integral to TSG’s vision of becoming a full-service online gaming company. Additionally, he assisted in structuring TSG’s capital markets activity, which generated liquidity for acquisitions and strengthened its balance sheet.
Prior to joining TSG, Mr. Goldstein was a principal shareholder in the corporate and securities practice at the international law firm of Greenberg Traurig P.A., where he practiced for almost 13 years. Mr. Goldstein’s practice focused on corporate and securities matters, including mergers and acquisitions, securities offerings, and financing transactions. Additionally, Mr. Goldstein was the founder and co-chair of the firm’s Gaming Practice, a multi-disciplinary team of attorneys representing owners, operators and developers of gaming facilities, manufacturers and suppliers of gaming devices, investment banks and lenders in financing transactions, and Indian tribes in the development and financing of gaming facilities.
Mr. Goldstein brings experience and insight that we believe will be valuable to a potential initial business combination target business. Mr. Goldstein received a Bachelor of Business Administration with a concentration in accounting from Emory University and a Juris Doctorate with highest honors from the University of Florida, College of Law.
Sean Ryan — Director Nominee
Mr. Ryan is a digital media and technology operator with extensive global experience in online payments, e-commerce, marketplaces, mobile ad networks, digital games, enterprise collaboration platforms, blockchain, real money gaming and online music. Since 2014, Mr. Ryan has been serving as Vice President of Business Platform Partnerships at Facebook, Inc. (“Facebook”) (Nasdaq: FB), where he leads a more than 500 person global organization that manages the Payments, Commerce, Novi/Blockhain, Workplace and Audience Network businesses. Prior to his current role, Mr. Ryan was hired in 2011 as the Director of Games Partnerships to lead and grow the global Games business at Facebook. While the Director of Games Partnerships, Mr. Ryan focused on re-shaping Facebook’s games and monetization strategies to derive more value for Facebook, its users and its partners, including the addition of a Real Money Gaming offering in regulated markets. Mr. Ryan’s team helped accelerate a major trend in engagement through cross-platform games and therefore the opportunity to increase users through establishing games on multiple platforms. Prior to joining Facebook, Mr. Ryan created the new social and mobile games division at News Corp, an American multinational mass media corporation controlled by Rupert Murdoch. While at News Corp, Mr. Ryan led the acquisition of Making Fun, a San Francisco social-game start-up, that created News Corp’s games publishing division.
Before joining News Corp., Mr. Ryan founded multiple digital businesses such as Twofish, Meez, Open Wager and SingShot Media. Mr. Ryan co-founded Twofish in 2009, a virtual goods and services platform that provided developers with data analytics and insights for individual application’s digital economies. Twofish was later sold to online payments provider Live Gamer, where Mr. Ryan served on the board of directors. From 2005 to 2008, Mr. Ryan founded and led Meez.com, a social entertainment service combining avatars, web games and virtual worlds. The white label social casino gaming company Open Wager was spun out of Meez and was later sold to VGW Holdings, Mr. Ryan also co-founded SingShot Media, an online karaoke community, which was sold to Electronic Arts (Nasdaq: EA) and merged into its Sims division.
We believe Mr. Ryan’s experience will be valuable to a potential initial business combination target and would provide an expanded perspective on the digital gaming landscape. Mr. Ryan received a Bachelor of Arts from Columbia University and a Master of Business Administration from the University of California, Los Angeles.
Tom Roche — Director Nominee
Mr. Roche has more than 40 years of experience in the gaming industry as a regulator, advisor and independent auditor. Mr. Roche joined Ernst & Young (“EY”) as a partner in 2003 and opened its Las Vegas office. He was subsequently appointed as the Office Managing Partner and Global Gaming Industry Market Leader. In 2016, Mr. Roche relocated to the EY Hong Kong office to supervise the expansion of the EY Global Gaming Industry practice in the Asia Pacific region. Mr. Roche has been integral to numerous transactions that have shaped the current gaming landscape, including:
• Wynn Resorts (Nasdaq: WYNN) initial public offering: Mr. Roche was the lead partner on Wynn Resort’s initial public offering, which raised $450 million in 2002.
• Harrah’s Entertainment/Apollo Management Group & Texas Pacific Group: Mr. Roche headed the regulatory advisory services on the buyout of Harrah’s Entertainment, the world’s largest casino company at the time, for $17.1 billion.
• Dubai World/MGM Resorts: Mr. Roche headed the regulatory and due diligence advisory services to Dubai World in its approximately $5.1 billion investment in MGM. Dubai World bought 28.4 million MGM shares, or 9.5 percent of the casino operator, for $2.4 billion. It then invested $2.7 billion to acquire a 50% stake in MGM’s CityCenter Project, a $7.4 billion 76-acre Las Vegas development of hotels, condos and retail outlets.
• MGM Growth Properties (NYSE: MGP) initial public offering: Mr. Roche provided tax and structural transaction services to MGM Resorts in the creation of MGM Growth Properties, a publicly traded REIT engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts. MGM Growth Properties raised $1.05 billion in its 2016 initial public offering.
Mr. Roche also directed EY advisory services to boards and management teams for profit improvement and technology related initiatives. In addition, Mr. Roche provided advisory support to the American Gaming Association on several research projects, including those specifically related to sports betting, the revocation of The Professional and Amateur Sports Protection Act of 1992 (PASPA) and anti-money laundering best practices in the gaming industry. Equally, he has assisted government agencies in numerous international locations with enhancing their regulatory approach to governing the industry especially in the online gambling sector.
Prior to joining Ernst & Young, Mr. Roche served as Deloitte’s National Gaming Industry Leader and as the co-head of Andersen’s Gaming Industry Practice in Las Vegas. In 1989, Mr. Roche was appointed by then Governor of the State of Nevada, Robert Miller, to serve as one of three members of the Nevada State Gaming Control Board for a four-year term, where he was directly responsible for the Audit and New Games Lab Divisions. As a board member, he spent a substantial amount of time assisting global jurisdiction regulators enact gaming legislation in the design of their regulatory structure. During his career, Roche has been involved in numerous public and private offerings of equity and debt securities. His background includes providing casino regulatory consulting services to casino licensees and to federal and state agencies including the National Indian Gaming Commission and the Nevada State Gaming Control Board, and industry associations such as the Nevada Resort Association and the American Gaming Association.
We believe Mr. Roche’s highly regarded reputation as a gaming auditor and advisor in the gaming industry will be valuable for us and a potential business combination target. Mr. Roche is a member of the American Institute of Certified Public Accountants and is licensed by the Nevada State Board of Accountancy and Mississippi State Board of Public Accountancy. He received his Bachelor of Science degree in Accounting from the University of Southern California.
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South Africa part 3: Cecil Rhodes

South Africa part 3: Cecil Rhodes
To think of these stars that you see overhead at night, these vast worlds which we can never reach. I would annex the planets if I could; I often think of that. It makes me sad to see them so clear and yet so far. -- Cecil Rhodes, Last Will and Testament
This is the 3rd post in a series on South Africa and Apartheid and so far in the first two neither Apartheid nor South Africa even exists. But we are to the mid climax. In first part we discussed how our groups of players: Afrikaners, British, Xhosa, Zulu, minor tribes, other ethnicities got to what would become South Africa. In the second part we discussed how the Zulus and Xhosa knocked themselves out of the game leaving the British and Afrikaners as the main players standing for who got rule what would become South Africa. We also discussed how the British policy was non-viable. This part is going to discuss how the British changed course and consequently won control. We are also going to get to the genesis of the Western Left's hatred of the Afrikaners and the genesis of Apartheid, We'll end on the creation of the Union of South Africa which while not the Republic of South Africa will allow me to stop talking about "Southern Africa", "territory that will become South Africa".... But unfortunately you will have to sit through this one more post where South Africa doesn't exist yet.
Cecil Rhodes was born in 1853 the sickly asthmatic 5th son of a not particularly notable clergyman. He'd remain sickly his entire life dying in 1902 at the age of 48 from the sorts of deterioration of the heart and lung one wouldn't expect to see until a man was at least well into their 90s. In that short span he would: become one of the richest men in the world; found several countries; change the entire economic structure of the territories that would become: South Africa, Botswana, Zambia, Mozambique, Namibia and Zimbabwe; found 2 major corporations: the British South Africa Company and De Beers; rethink British imperialism inventing what would become the British Commonwealth; becoming one of the defining figures and great visionaries of the Victorian Age; trigger the 2nd Boer War; demonstrate the strategy changing nature of the machine gun decades before World War 1; be the only genuinely important Prime Minister of the Cape Colony; invent the concept of corporate armies; play a large role in saving the South African wine industry and most importantly be the only individual getting his own post in this series. :) Rhodes was sent to South Africa at the age of 17 so that the British weather didn't kill him. Rather than doing the normal thing and spending the money (amounting to a decade or less of a comfortable middle class salary, but no great fortune) on living with some gambling and girls thrown in he decided to head to the newly discovered diamond mines in Kimberly and started buying up small diamond mining operations leveraging each mine's output and outside financing to buy the next. Later he partnered with leading financing and trading firms so by 1888 had what amounted to monopoly control of diamond industry turning De Beers into the diamond powerhouse it remains to this day though the last pieces wouldn't fall into place until 1890. He by the 1880s De Beers was throwing off enough excess profits that he could pay investors and continue expending De Beers while being able to found the predecessor to the British South Africa Company operating much further into the interior opening up Bechuanaland and Rhodesia as colonies using his own profits to fund the administrative expenses much as the East India Company had done a century earlier.
Rhodes believed that British policy wasn't viable because it was petty. A vibrant healthy economy throws off an enormous amount of tax revenue. Petty colonialism, like the kind the British were engaging in would never generate much profit because of its very short term nature. Britain should make money by investing in the local economy, spend some on upkeep, reinvesting most of the profits and just skim a little of a forever growing payout. What Britain had tried to do with the American colonies encouraging economic development was the right approach. The problem was London had been shortsighted and selfish turning the local administrators against them. The independence of the USA wasn't a strategic failure it was the result of poor tactical implementation. The problem the British were facing in Southern Africa was similar and since the policies had been similar the results would be as well. The Afrikaners had no reason to be loyal to a Britain which had spent almost a century making very clear that it had no interest in their welfare or society beyond some ports which were frankly not nearly so important since Suez had opened. Rhodes changed policy to have Britain stop acting like a colonizing power and start acting like the domestic government of South Africa as much as possible .Outlining his changes to colonial governing policy:
  • Colonial financing -- utilize profits from business ventures fund army. Rhodes' companies were good examples of this the British charter and the backing of British troops allowed him to make excess profits which allowed him to incur expenses which the previous skinflint administration could never have tolerated. For example British colonial bonds generated an average return of 4.7%. Investments in independent American bonds generated an average return of only 2.9%. The difference was not being taken into account when the Colonial Office calculated their return on investment which to Rhodes' mind was simply lousy accounting.
  • Long term investment -- In general rewire the metrics used at the London Colonial Office to focus on long term investment not short term profits.
  • Demographics -- The British were the world's first people. Physically populate as much of the world as possible. Assimilate other people's into the British way of life. In South Africa in particular he intended to win the hearts and minds of the Boer.
  • Stability -- The previous administration had focused on stability because instability created upheavals that increased administrative costs. For too long British colonial policy was to tolerate and coexist with local culture. To create a profitable economy agricultural efficiencies are going to need to be introduced. That means 90% of the natives are going to freed up to work in a manufacturing and processing workforce. It also means the agricultural tribal traditional culture is going to be completely destroyed. Instability not stability should be policy. Seek to replace local culture with British culture to enhance the potential for economic growth.
  • Glory to British not England -- English colonies exist for glory of England. British colonies self exist. England's glory is that is the Birthplace of the 1st people not how much of the world remains completely non-British while in some vague unimportant sense recognizing Victoria as their Queen.
  • Representation -- As long as colonial governments respond to a English democracy they will be unrepresentative of their people. Create a democratic institution which provides representation for all British people in a British Parliament. There should be an English parliament for England. Invite the United States to join this new institution. "Inauguration of a system of Colonial representation in the Imperial Parliament which may tend to weld together the disjointed members of the Empire and, finally, the foundation of so great a Power as to render wars impossible, and promote the best interests of humanity" (NB: this is essentially the British Commonwealth, though of course the USA was not invited)
  • Devastating defeat of enemies -- Colonial policy was designed to solve conflict cheaply. Small military victories do not undermine the hostile's economy nor their society and thus don't accomplish much. They simply delay and prolonging the problem created by the enemy allowing the enemy to choose points in time to achieve advantage. Avoid costly wars certainly but when war is needed seek to inflict devastating defeat so the subject people realize their inferiority. This realization facilities undermining their institutions and thus during the peace their way of life easily becomes more British. Further a willingness to war like this makes challenging Britain very costly and risky for potential enemies and thus wars will be far less frequent. The financial people are correct that the aggregate cost of inflicting devastating defeats infrequently is higher than more frequent small wars but the benefits are far greater. War carried out towards devastating defeat becomes a form of investment not a pure non-productive expense.
  • Scope -- The British were far to unambitious in their aims. The goal of British colonialism should be "all lands where the means of livelihood are attainable by energy, labour and enterprise". The scope was, "the occupation by British settlers of the entire Continent of Africa, the Holy Land, the Valley of the Euphrates, the Islands of Cyprus and Candia, the whole of South America, the Islands of the Pacific not heretofore possessed by Great Britain, the whole of the Malay Archipelago, the seaboard of China and Japan, the ultimate recovery of the United States of America as an integral part of the British Empire"
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map of Cecil Rhodes' proposed British Empire
You'll notice that all of Africa was in the map. Rhodes was of the opinion that Africa was incredibly rich in minerals and peoples. But it wasn't exploitable for profit because of a lack of transportation infrastructure. Rhodes was pushing to start fixing this by creating a full African north-south railway connecting "Cairo to the Cape". Rhodes' BSAC conquests were designed to drive north while he used his political influence to push the Egyptian conquest further south into Anglo-Egyptian Sudan and then a business similar to BSAC run by Sir William Mackinnon to push into Uganda.
For the northward push (primarily in what today is Zambia, Zimbabwe and Botswana) Rhodes was directly implementing his policy using a private army funded from the British South Africa Company. The Ndebele and Shona (Zulu tribes) were handled easily by the devastating defeat principle. Rhodes' forces demonstrated how effectively Maxims (a primitive form of machine gun) and barbed wire worked against simple rifles, spears and long shields achieving kill ratios never before seen in the history of warfare. As an aside these battles against the Zulus would also be used by those military theorists and historians who correctly anticipated in the later 1890s through 1910s how devastating a war between the great powers would be using these weapons against each other. Rhodes through BSAC had managed to push north of Lake Mweru and to the Northern tip of Lake Nyasa. Which almost connected with Sudan were it not for German East Africa (Burundi, Rwanda, and Tanzania) in the middle. In theory an alternative route through the Belgian Congo would also work but the gold mines in Tanzania kept Rhodes focused on taking German East Africa. Further Rhodes met his match in ruthlessness when it came to the Belgians. When Rhodes' negotiating agent sought a development contract for mineral-rich Katanga (in Congo) the native ruler Msiri refused. King Leopold II of Belgium obtained the same concession by having his agent signing it to Belgium himself over Msiri's dead body in the name of the "Congo Free State".
At the same time Rhodes worked with the Colonial office and in 1890 British issued the "1890 British Ultimatum" to Portugal. This ultimatum by the British government forced the retreat of Portuguese military forces from areas which had been claimed by Portugal on the basis of historical discovery and recent exploration, but which the United Kingdom claimed on the basis of effective occupation. Portugal had attempted to claim a large area of land between its colonies of Mozambique and Angola including most of present-day Zimbabwe and Zambia and a large part of Malawi, which had been included in Portugal's "Rose-coloured Map". This ultimatum violated the Anglo-Portuguese Treaty of 1373 which to that point had been the longest standing peace treaty in history.
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Who owned what by the early 1900s
Take a look at the map above and imagine the British controlling the north-south line connecting to a British/Portuguese line running east-west in the south and a joint French/British/Italian line running east-west in the north. From there local government and companies could construct smaller feeder lines creating a modern rail system. Hopefully and you start to see how Rhodes intended to start developing the transpiration infrastructure needed to create a strong African economy.
All this was going to be for naught though if Southern Africa ended up as a Boer state hostile to British interests on the model ZAR (Zuid-Afrikaansche Republiek, Transvaal Republic). So Rhodes decided to run for Prime Minister of the Cape Colony and solve the problems of British strategy explicated in part 2. The primary problem the Boer had with British government is their divide and conquer approach. The British tilted to whomever was losing (a standard British policy they would also follow in Palestine) which for decades meant treating the Boer and native Africans as both being subject peoples while favoring the native Africans against the Boer. In Rhodes mind you could not expect to get loyalty from people you were obvious disfavoring. The British were the ones turning the Boer into enemies.
So in 1892 Rhodes instituted the Franchise and Ballot Act. This was seen as a compromise between factions in the Colonial Office and the traditions in the Cape Colony for a broad democracy (anyone with £25 in property could vote) and Orange and ZAR's (Zuid-Afrikaansche Republiek, Transvaal Republic) more exclusive democracy. Rhodes raised the amount of property to £75, an amount specifically chosen to disempower many of the native Africans while allowing many Boers to vote. With a Boer and British based democracy locked in the Cape Colony's democratic powers could be strengthened, creating more self rule and making the involvement of the London Colonial Office less obvious. This concept of using a not explicitly racial criteria while instituting laws with racist intent is very modern.
Various Liberals in the London Colonial Office especially missionaries disagreed strongly with Rhode's policies. They had been the ones advocating for the enlightened colonialism that was British policy. Missionaries in particular saw their role as: combating godlessness, superstition and backwardness. In particular encourage better use of land; encourage paycheck work; become trusted advisor to tribal leaders. The slogan "Bring the 3Cs into Africa" referred to Commerce, Christianity and Civilization. To their mind Rhodes' vision of British Imperialism was straight up military tyranny. If followed he would make England no different than a modern day Genghis Khan, creating a empire loathed by a vast expanse of subject peoples who would unite against it from all directions. Instead interfering minimally and being seen as an ally while slowly educated the elite in British custom and religion would cause a gradual consensual change that would build British alliances that would last centuries. Plus such an approach would fulfill the Lord's Great Commission (term for Jesus' command to convert the entire world to Christianity) in a way that honored God rather than shamed him. One need only look at how the Spanish, Portuguese and Balkans had thrown off Islam after centuries to see how ineffective military tyranny was at long term conversions that didn't require force. So in their mind: No the London Office should stand by its traditional values of: monopoly companies and plantations run in (unequal) partnership with indigenous elite. free trade, free (and indeed forced) migration, infrastructural investment, balanced budgets, sound money, the rule of law and incorrupt administration. As far as their Boer, in their mind the Boer were the primary impediment to enlighten British rule in South Africa, being Christians they were obligated to agree with the missionaries on the vision of the White Man's Burden and Enlightened Empire. Rather than making concession to the Boer they needed to be crushed to demonstrate the moral difference between the Boer and the British. With Rhodes' change in policy tilting towards rather than away from the Boer the Western Left came to truly hate the Boer in 1890s. Since the point of this series is the analogy I'll add that I wrote two posts about more or less the same groups of Liberal Christians turning against Israel again having to do with Israeli/Jews discrediting Liberal Western values and thus interfering with the Great Commission: WCC churches and Quakers.
Rhodes in debates before and at the time considered this Liberal Empire stuff to be simply aspirational. Without economic interference there wasn't enough money to fund anything like what the Liberals proposed. He'd point to facts like that after a century of such rules in India they had increased the secondary schooling 7x to a whopping 2% while England with not nearly as many well funded missionary organizations was over 16%.
Rhodes hoped to unify all of Southern Africa around this compromise approach to the franchise. ZAR however rejected this compromise. By the mid 1990s approximately 1/3rd of their white population were British (Anglicans). ZAR had every intent of maintaining religious based voting criteria (i.e. citizenship in ZAR was only open to people who were members of several Dutch Reformed Churches, see part 2). Obviously for Rhodes a situation where British people were the disempowered minority was intolerable. Additionally the ZAR were maintaining an anti-Cape Colony / anti-British / anti-Rhodes trade policy. It was becoming increasingly clear there would need to be regime change. So in 1895 Rhodes organized an attempted coup d'état now called the "Jameson Raid" (yes the same Jameson who went on to be Prime Minister 1904-8 of the Cape Colony after the 2nd Boer War). The Afrikaners were more astute than natives had been caught wind of the early organization and waited until the forces were committed trapping hundreds of Rhode's people creating a great embarrassment.
Its at this point that the Boer made by far the greatest mistake of their history as a people. The 4 years between 1895-9 were when they made the choices that led to their ruin. The British were really embarrassed. A colonial governor who had a crown chartered corporation had been caught red handed engaging in a serious act of war against another sovereign state with no approval from Parliament. The Colonial Office admitted as much and forced Rhodes out of office in 1896. The Afrikaners had real negotiating leverage to work out a deal. It obviously would be extremely important that the next leader of the Cape be friendly. But they didn't decide to negotiate. Instead they started flirting with the Germans, while not actually signing a formal alliance with Germany that at least had the potential to provide them real protection. The flirtation however, turned a nasty incident into a serious threat to all British interests in Southern Africa forcing a British response. In Britain an alliance of Jingoists (populist military hawks) angry about the humiliation of 1st Boer War, Conservative Imperialists who wanted to end Boer independence especially in the ZAR (the 3 core values for Conservatives at the time were: Union with Ireland, the Empire and the superiority of the British race), Liberal Imperialists who supported Rhodes' vision and Missionaries who hated the Boer formed pushing for a war. Seeing this alliance form against them the Afrikaners did nothing to avert the danger. Rather they made a mistake many 2nd tier powers do when it comes to 1st tier powers. The Afrikaners confused the light force and weak will the 1st tier power is willing to spend on them with the amount of force the 1st tier power is capable of employing if it so chooses. Having beaten the British handily in the 1st Boer War when they were fighting the C-team (as I called in part 2) the Afrikaners grossly underestimated what they would face against a British army that had a political mandate for victory, what Britain's A-team would look like. Preparing for something slightly worse than the 1st Boer War the Boer began a serious arms buying program in 1897. ZAR also got more belligerent in their rhetoric which led to a formal alliance with the Orange State and Boer guerilla groups that could support the war effort in the Cape. The Boer had about 63k troops including some foreign troops. .
The British were determined not to lose the 2nd Boer War. This was going to be the British-A team. By the second phase of the war between British soldiers, soldiers from other colonies and local Africans providing auxiliary Boer were facing a 500-600k man army. Nor was the command third or even second rate as it had been in the 1st Boer War. For example, the top military command would be Herbert Kitchener who was fresh from the victorious Anglo-Egyptian invasion of Sudan. Kitchener after the 2nd Boer War would go on to be the Commander-in-Chief for the armies in India and a decade after that the UK's Secretary of State for War during World War 1. He's this guy:
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Kitchener famous 1914 recruiting poster
The cost to maintain that army would be £60m / year far more than Britain could ever pull out of Southern Africa (GDP and inflation adjusted the Boer War would cost the UK about $250b). The first phase of the war was a Boer offensive while the British were still deploying troops in October–December 1899. Once the British were done they conquered all pockets of resistance in the Cape and Orange as well as essentially the entire ZAR territory January to September 1900. The Afrikaners decided to fight when surrender was the better option. Leading to a guerrilla war between September 1900 and May 1902.
The British simply could not afford to keep an army of that size in the field for years dealing with guerilla tactics until the Boer admitted they were beat. Facing time pressure the British felt they had no choice but to come down hard. The British cut the guerilla war short by instituting a scorched earth policy against areas giving support to guerillas in the ZAR (most of the ZAR). ZAR men were mostly in the militias. Scorched earth destroyed the food supply in the ZAR so the British threw the women and children in concentration camps. The army hadn't prepped for needing to support massive numbers of civilians so malnutrition and disease were rampant in the concentration camps. This disease and malnutrition resulting in a camp death rate of approximately 30% annually. A policy amounting to genocide. Pro Boer forces in the UK generated widespread opposition to the camps so the military response was to not confine woman and children and instead leave civilians on the now barren earth to die of starvation and exposure. Actual POWs were deported to Bermuda and India preventing the Boer from standing any chance of liberating them. African tribes that had lost territory to the Boer began moving in. While both sides had agreed not to arm natives or recruit tribes. But the British weren't going to fight for the Boer if tribes decided to take advantage of their defeat. The Boer were quickly losing everything they were fighting for: freedom, their lands, their family, the self dependence and surrendered rather than have their population geocoded to oblivion, being left with no economy and whatever lands they managed to hold being assaulted on all sides by natives who would take it from them.
The Boer society that emerged from the surrender did not have separatist attitude. Destitute Boers now willing to work in the minds and alongside black Africans swelled the ranks of the unskilled urban poor competing with the "uitlanders" in the mines. The new economy was unambiguously focused on gold causing mine production to swell enriching the British interests. The Afrikaners were both physically and psychologically crushed, and wouldn't be causing any more problems for decades.
In the UK the war came to be seen as excessive especially as the financial cost of the war sunk in. The Conservatives' suffered a spectacular defeat in 1906 driving the Conservative Prime Minister at the time (12 July 1902 – 4 December 1905) Arthur Balfour from office. He comes up rather regularly on this sub in his later role as Foreign Minister. As the Boer are no longer resisting the British Empire the shift towards more pro-Boer policies from England continues. In 1909 the British Parliament dissolves the British colonies of: Cape of Good Hope, Natal, Orange River Colony, and Transvaal and combines them into a Federal Union of South Africa. This makes South Africa into a Dominion (essentially Australia's status at the time). Jan Smuts (an Afrikaner) resurrects Rhodes' idea of a Common Wealth and the British embrace it.
And so we conclude part 3 our story of how the British eventually won and South Africa came to exist. How the Western Left started to hate the Boer, a hatred they would resurrect later. And how the first steps towards apartheid were taken. Whew that was longer than I intended!
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submitted by JeffB1517 to IsraelPalestine [link] [comments]

Which countries are the best for sports bettors?

I live in Australia, and we have a wide variety of bookie options here. Winnings from gambling are also tax-free here.
The downsides are that most overseas bookmakers, like Pinnacle, are banned here, and we have this stupid rule about live betting where we have to call up to place a bet. That makes it very difficult to place live bets.
Any countries out there that don't tax gambling and don't have limitations on live betting and offshore bookies?
submitted by guaranteed_virgin to sportsbook [link] [comments]

Anonymity by State/Country: Comprehensive Global Guide III

Ever since i started playing regularly, i've researched anonymity in places. Here is what i have for each state plus a bunch of other countries. If anything is outdated or incorrect, please comment.
United States
Alabama: No current lottery. Source: https://www.wtvy.com/content/news/Lottery-bill-other-legislation-is-likely-dead-in-Alabama-legislature-569059451.html
Alaska: No current lottery/Not Anonymous. "Unlike most other states, Alaska doesn’t have a state-sponsored lottery." Source: https://www.lotterycritic.com/lottery-results/alaska/ Alaska does permit charities to run lotteries, the largest one is Not Anonymous. Source: http://www.lottoalaska.com/
Alaska's governor has proposed a bill to create an official Alaska State Lottery. Source: https://apnews.com/78cacca5137f6b47e41be2de37600044
American Samoa: No current lottery. Source: https://simonsblogpark.com/onlinegambling/simons-guide-to-gambling-in-american-samoa/amp/
Arizona: 100% Anonymous if requested by the winner for all wins of $100,000 and over. Source: https://www.nbcnews.com/news/us-news/arizona-becomes-latest-state-shield-lottery-winners-names-n995696
Arkansas: Not Anonymous/Other entities unclear. "Winner information is subject to disclosure under the Arkansas Freedom of Information Act (FOIA). A winner who receives a prize or prize payment from the ASL grants the ASL, its agents, officers, employees, and representatives the right to use, publish (in print or by means of the Internet) and reproduce the winner’s name, physical likeness, photograph, portraits, and statements made by the winner, and use audio sound clips and video or film footage of the winner for the purpose of press releases, advertising, and promoting the ASL". Source: https://www.myarkansaslottery.com/claim-your-prize
California: Not Anonymous/Only individuals can claim. “ The name and location of the retailer who sold you the winning ticket, the date you won and the amount of your winnings are also matters of public record and are subject to disclosure. You can form a trust prior to claiming your prize, but our regulations do not allow a trust to claim a prize. Understand that your name is still public and reportable”. Source: https://static.www.calottery.com/~/media/Publications/Popular_Downloads/winners-handbook-October%202018-%20English.pdf
Colorado: Not Anonymous/Anonymous via trust. “As part of the Open Records Act, we are required to release to the public your name, hometown, amount you won and the game you played. This information will be posted on coloradolottery.com and will be furnished to media upon request.” Source: https://www.coloradolottery.com/en/games/lotto/claim-winnings/ Source: https://denver.cbslocal.com/2016/01/15/in-colorado-and-other-states-lottery-winners-can-keep-names-secret/
Connecticut: Not Anonymous/Anonymous via a trust or LLC, "Certain information about our winners is public information: Winner's name and place of residence, date of claim, game played, prize amount won, and the selling retailer's name and location. While most winners claim prizes using their individual names, some winners come forward using other legal entities (i.e., trusts, business partnership) to claim their prizes. In those instances, the Lottery will promote the win using that legal entity's name. For more information about such instances, please consult your personal accountant or legal advisor.” Source: https://www.ctlottery.org/Content/winner_publicity.aspx
Delaware: 100% Anonymous if requested by winner. "Many winners have chosen to remain anonymous, as allowed by state law, but their excitement is yours to share!" Source: https://www.delottery.com/Winners and https://www.delottery.com/FAQs
DC: Not Anonymous/Anonymous via a trust or LLC. Anonymous question is not directly answered on lottery website. "In the District of Columbia, specific lottery winner information is public record." However, a Powerball Jackpot win was claimed via a LLC in 2009. Source: http://www.washingtonpost.com/wp-dyn/content/article/2009/05/04/AR2009050402008.html
Florida: Not Anonymous/Anonymous via LLC. "Florida Lottery winners cannot remain anonymous. Florida law mandates that the Florida Lottery provide the winner's name, city of residence, game won, date won and amount won to any third party who requests the information; however Florida Lottery winners' home addresses and telephone numbers are confidential." Source: http://www.flalottery.com/faq
The Florida Lottery allows trusts to claim it, however winner information is still released in compliance with the law. A $15 Million jackpot was claimed by an LLC. Source: https://www.fox13news.com/amp/consumehit-the-lottery-remain-anonymous-not-in-florida Source: http://flalottery.com/pressRelease?searchID=199128
Georgia: 100% Anonymous if requested by the winner for all prizes over $250,000. Source: https://www.stl.news/georgia-governor-signs-bill-allowing-lottery-winners-remain-anonymous/121962/
Guam: Anonymity appears to be an option. Source: https://www.kuam.com/story/11218413/guamanian-wins-big-in-sportsbingo-but-has-yet-to-claim-2m-prize
Hawaii: No current lottery. Source: https://www.kitv.com/story/40182224/powerball-or-mega-millions-lottery-in-hawaii
Idaho: Not Anonymous."By claiming a winning lottery ticket over $600, winners become subject to Idaho’s Public Records Law. This means your “win” becomes an offcial Idaho public record. Your full name, the town where you live, the game you won, the amount you won (before and after taxes), the name of the retailer where you bought the ticket, and the amount the retailer receives for selling the ticket are all a matter of public record." Can seek anonymity if you have specific security concerns (rarely granted). Source: https://www.idaholottery.com/images/uploads/general/winnersguideweb.pdf
Illinois: Not Anonymous/Anonymous if requested by winner for all wins over $250,000 however info will be released to a FOIA request. "However, Murphy also cooperated with the Illinois Press Association in adding an amendment that ensures that Freedom of Information Act, an act designed to keep government agencies transparent by allowing the public to access any public record by request, supersedes the privacy law, according to attorney Don Craven, the press association’s legal counsel." Source: https://www.thetelegraph.com/news/article/Hidden-riches-Big-lottery-winner-in-Beardstown-13626173.php
Indiana: Not Anonymous/Anonymous via LLC or trust. "Indiana law allows lottery jackpot winners to remain anonymous, with the money being claimed by a limited liability company or legal trust." Source: https://www.chicagotribune.com/nation-world/ct-indiana-mega-millions-winners-20160729-story.html
Iowa: Not Anonymous/Can use a trust to claim but information will be released. "When you win an Iowa Lottery prize of $600 or more, you have to fill out a winner claim form that includes your name, address and Social Security number before you can claim your winnings. Iowa law makes the information on that claim form public, meaning that anyone can request a copy of the form to see who has won the prize. We redact sensitive information, such as your Social Security number, from the form before we release it, but all other details are considered public information under Iowa law (Iowa Code Section 99G.34(5)." Source: https://www.ialotteryblog.com/2008/11/can-prize-winne.html.
For group play, "Prizes can be paid to players who play as a group. A check can be written to an entity such as a trust or to a single individual." Source: https://ialottery.com/pages/Games/ClaimingPrizes.aspx
Kansas: 100% Anonymous if requested by the winner. "Kansas is one of a handful of states that does not have this requirement. If you win a prize in Kansas, you may request that your identity not be released publicly." Source: https://www.kslottery.com/faqs#faq-8
Kentucky: Anonymity appears to be an option. Anonymity or who can claim is not addressed on lottery website. But multiple instances of winners claiming anonymously have been reported in the news. "Kentucky Lottery spokesman Chip Polson said the $1 million Powerball winner claimed the prize on May 15 and the Mega Million winner claimed the prize on May 12. He confirmed that both players wanted their identity to remain a secret." Source: https://www.courier-journal.com/story/news/local/2017/05/19/two-1-million-lottery-winners-who-bought-tickets-louisville-want-privacy/101870414/
Louisiana: Not Anonymous/Anonymous via trust. "Under the Lottery's statute, all prize payment records are open records, meaning that the public has a right to request the information. Depending upon the amount won and public or media interest in the win, winners may NOT be able to remain anonymous. The statute also allows the Lottery to use winners' names and city of residence for publicity purposes such as news releases. The Lottery's regular practice is not to use winner information in paid advertising or product promotion without the winner's willingness to participate. Source: https://louisianalottery.com/faq/easy-5#35 Source: https://louisianalottery.com/article/1050/the-williams-trust-claims-share-of-50-million-powerball-jackpot
Maine: Not Anonymous/Anonymous via trust. "In the event that Maine does have a Mega Millions winner, he or she can opt to remain anonymous — but Boardman says that’s never happened. “What a winner could do in Maine is they could file their claim in the name of a trust, and the trust becomes the winner. So that’s how a winner could claim their ticket anonymously,” he says." Source: https://www.mainepublic.org/post/lottery-official-reminds-mainers-they-re-exceedingly-unlikely-win-16-billion-jackpot
Maryland*: Not Anonymous by Law, Anonymous in Practice. "However, the legal basis for this anonymity in Maryland is thin. The Maryland Lottery does not advertise that lottery winners may remain anonymous, but it posts articles on its website about winners and notes those winners who have “chosen to remain anonymous:” Source: https://www.gw-law.com/blog/anonymity-maryland-lottery-winners
*"Please note that this anonymity protection does not apply to second-chance and Points for Drawings contests run through the My Lottery Rewards program. Those contests are run as promotions for the Lottery. As such, they are operated under a different set of rules than our draw games and scratch-off games. The rules of participating in our second-chance and Points for Drawings contests state that winners' identities are published."" Source: https://www.mdlottery.com/about-us/faqs/
Massachusetts: Not Anonymous/Anonymous via trust "Lottery regulations state that a claimant's name, city or town, image, amount of prize, claim date and game are public record. Therefore, photographs may be taken and used to publicize winnings." Source: https://www.masslive.com/news/2018/05/lottery_sees_increase_in_winne.html
Michigan: Not Anonymous for Powerball and Mega Millions/100% Anonymous if requested by the winner for all other winners over $10,000. "Winner Anonymity. Michigan law requires written consent before disclosing the identity of the winner of $10,000 or more from the State lottery games Lotto47 and Fantasy 5. You further understand and agree that your identity may be disclosed, and that disclosure may be required, as the winner of any prize from the multi-state games Powerball and Mega Millions." Source: https://www.michiganlottery.com/games/mega-millions
Minnesota: Not Anonymous. Anonymity or who can claim is not addressed on lottery website but lottery blog states "In Minnesota, lottery winners cannot remain anonymous. A winner's name, city, prize amount won and the place that the winning ticket was sold is public data and will be released to media and posted on our website." Source: https://www.mnlottery.com/blog/you-won-now-what
Mississippi: 100% Anonymous if requested by the winner. "In accordance with the Alyce G. Clarke Mississippi Lottery Law, the Mississippi Lottery will not disclose the identity of the person holding a winning lottery ticket without that person's written permission." Source: https://www.mslotteryhome.com/players/faqs/
Missouri: Not Anonymous. "At the Lottery Headquarters, a member of the Lottery's communications staff will ask you questions about your win, such as how many tickets you bought, when you found out that you won and what you plan to do with your prize money. This information will be used for a news release. You will also be asked, but are not required, to participate in a news conference, most likely at the store where you purchased your winning ticket." Source: http://www.molottery.com/whenyouwin/jackpotwin.shtm
A Missouri State Legislator has submitted a bill to the State House to give lottery winners anonymity. Source: https://www.kfvs12.com/2020/02/25/mo-house-considers-legislation-protect-identity-lottery-winners/
Montana: Not Anonymous/Anonymous via trust. "In Montana, by law, certain information about lottery winners is considered public. That information includes: the winner's name, the amount won and the winner's community of residence. Winners may choose to claim as an individual or they may choose to form a trust and claim their prize as a trust. If a trust claims a lottery prize, the name of the trust is considered public information. A trust must have a federal tax identification number in order to claim a Montana Lottery prize." Source: https://www.montanalottery.com/en/view/about-faqs
Nebraska: Not Anonymous/Anonymous via LLC. Anonymity or who can claim is not addressed on lottery website but a winner created a legal entity to claim anonymously in 2014. "Nebraska Lottery spokesman Neil Watson said with the help of a Kearney lawyer, the winner or winners have created a legal entity called Carpe Diem LLC." Source: https://journalstar.com/news/state-and-regional/nebraska/m-nebraska-powerball-winner-to-remain-anonymous/article_a044d0f0-99a7-5302-bcb9-2ce799b3a798.html
A Nebraska State Legislator has now filed a bill to give 100% Anonymity to all winners over $300,000 who request it. Source: https://journalstar.com/news/state-and-regional/nebraska/anonymity-for-lottery-winners-bill-would-give-privacy-to-those/article_1cdba44d-c8bb-5971-b73f-2eecc8cd4625.html
Nevada: No current lottery. Source: https://www.reviewjournal.com/business/casinos-gaming/heres-why-you-cant-play-powerball-in-nevada/
New Hampshire: Not Anonymous/Anonymous via a trust. Anonymity or who can claim is not addressed on lottery website but a winner successfully sued the lottery and won the right to remain anonymous in 2018. Source: https://www.washingtonpost.com/news/post-nation/wp/2018/03/12/winner-of-a-560-million-powerball-jackpot-can-keep-the-money-and-her-secret-judge-rules/?noredirect=on&utm_term=.bec2db2f7d2c
New Jersey: 100% Anonymous if requested by the winner. Source: https://www.nj.com/politics/2020/01/win-big-you-can-claim-those-nj-lottery-winnings-anonymously-under-new-law.html
New Mexico: Not Anonymous. “Winners of $10,000 or more will have name, city, game played, and prize amount and photo on website.” Can seek anonymity if you have specific security concerns (rarely granted). Source: https://www.nmlottery.com/uploads/FileLinks/82400d81a0ce468daab29ebe6db3ec27/Winner_Publicity_Policy_6_1_07.pdf
New York: Not Anonymous/Anonymous via a LLC. Anonymity or who can claim is not addressed on lottery website but per Gov. Cuomo: "For the past 40 years, individuals wishing to keep their name and information out of the public view have created LLCs to collect their winnings for them." Source: https://nypost.com/2018/12/09/cuomo-vetoes-bill-allowing-lotto-winners-to-remain-anonymous/
North Carolina: Not Anonymous. "North Carolina law allows lottery winners' identity to remain confidential only if they have an active protective order against someone or participate in the state's "Address Confidentiality Program" for victims of domestic violence, sexual offense, stalking or human trafficking." Source: https://www.charlotteobserver.com/news/local/article54548645.html
North Dakota: 100% Anonymous if requested by the winner. Source: https://www.kfyrtv.com/home/headlines/ND-Powerball-Winners-Have-Option-to-Remain-Anonymous-364918121.html
Northern Mariana Islands: 100% Anonymous if requested by the winner. Source: https://www.nmsalottery.com/game-rules/
Ohio: Not Anonymous/Anonymous via trust. Anonymity or who can claim is not addressed on lottery website but appears to have an anonymous option. "The procedure from there was a little cumbersome. I needed to create two separate trusts. One trust was to appoint me, as the trustee on behalf of the winner, to contact the Lottery Commission and accept the Lottery winnings. The secondary trust was set up for me as trustee of the first trust, to transfer the proceeds to the second trust with the winner as the beneficiary. This enabled me to present the ticket, accept the proceeds, and transfer it to the winner with no public record or disclosure." Source: https://www.altickcorwin.com/Articles/How-To-Claim-Lottery-Winnings-Anonymously.shtml
Oklahoma: Not Anonymous/Anonymous via trust or LLC. In accordance with the Oklahoma Open Records Act and the Oklahoma Education Lottery Act, the name of any individual, corporation, partnership, unincorporated association, limited liability company, or other legal entity, and their city of residence will be made public. Source: https://www.lottery.ok.gov/playersclub/faq.asp Source: https://oklahoman.com/article/5596678/lottery-winners-deserve-some-anonymity
Oregon: Not Anonymous. "No. Certain information about Lottery prizes is public record, including the name of the winner, amount of the prize, date of the drawing, name of the game played and city in which the winning ticket was purchased. Oregon citizens have a right to know that Lottery prizes are indeed being awarded to real persons. " Source: https://oregonlottery.org/about/public-interaction/commission-directofrequently-asked-questions Can seek anonymity if you have specific security concerns (rarely granted). Source: https://www.dailymail.co.uk/news/article-3353432/Man-living-Iraq-wins-6-4-million-Oregon-jackpot.html
Pennsylvania: Not Anonymous/Anonymous via trust. Source: https://lancasteronline.com/news/local/trust-that-won-powerball-no-relation-to-manheim-township-emerald/article_29834922-4ca2-11e8-baac-1b15a17f3e9c.html
Puerto Rico: 100% Anonymous if requested by the winner. Source: https://www.nbcnews.com/news/latino/puerto-rico-powerball-winner-claims-prize-chooses-stay-anonymous-n309121
Rhode Island: Not Anonymous/Anonymous if requested but all info is subject to FOIA. "While the Lottery will do everything possible to keep a winner's information private if requested by the winner, in Rhode Island and most other states, this information falls under the Freedom of Information Act, and a winner's name and city or town of residency must be released upon request." Source: https://www.rilot.com/en-us/player-zone/faqs.html
South Carolina: 100% Anonymous if requested by the winner. Anonymity or who can claim is not addressed on lottery website but appears to have an anonymous option based on prior winners. Source: https://myfox8.com/2019/03/15/the-anonymous-south-carolina-winner-of-the-largest-lottery-jackpot-is-donating-part-of-it-to-alabama-tornado-victims/
South Dakota: Not Anonymous for draw games and online games/100% Anonymous for Scratchoffs if requested by the winner. "You can remain anonymous on any amount won from a scratch ticket game. Jackpots for online games are required to be public knowledge. Play It Again winners are also public knowledge." Source: https://lottery.sd.gov/FAQ2018/gamefaq.aspx.
Tennessee: Not Anonymous/Can use a trust but info subject to open records act. Anonymity is explicitly noted as not being allowed on the official lottery website. Source: https://www.tnlottery.com/faq/i-won
However if it is claimed via a trust then the lottery will not give out your information unless requested to do so. "The TN lottery says: "When claiming a Lottery prize through a Trust, the TN Lottery would need identity documentation for the grantor and all ultimate beneficiaries. Once we are in possession of these documents and information, records are generated. If a formal request is made by a citizen of Tennessee, the Trust beneficiary's name, city and state must be made available under the Tennessee Open Records Act." Source: https://www.avvo.com/legal-answers/in-tennessee--can-a-lottery-jackpot-be-claimed-whi-2327592.html
Texas: 100% Anonymous if requested by the winner for $1 million or more IF the winner claims it as an individual AND chooses the Cash option. Not Anonymous if claimed by a trust or LLC or if the winner chooses the Annuity option. Source: https://www.txlottery.org/export/sites/lottery/Documents/retailers/FAQ_Winner_Anonymity_12112017_final.pdf
Utah: No current lottery. Source: https://www.lotterycritic.com/lottery-results/utah/
Vermont: Not Anonymous/Anonymous via trust. “The name, town and prize amount on your Claim Form is public information. If you put your name on the Claim Form, your name becomes public information. If you claim your prize in a trust, the name of the trust is placed on the Claim Form, and the name of the trust is public information.” Source: https://vtlottery.com/about/faq
Virginia: 100% Anonymous if requested by the winner for prizes over $10 million. "A new law passed by the Virginia General Assembly and signed by the Governor prohibits the Virginia Lottery from disclosing information about big jackpot winners." "When the bill goes into effect this summer, the Virginia Lottery will not be allowed to release certain information about winners whose prize exceeds $10 million, unless the winner wants to be known." Source: https://www.13newsnow.com/article/news/local/virginia/new-virginia-law-allows-certain-lottery-winners-to-keep-identity-private/291-c33ea642-e8fa-45fd-b3a4-dc693cf5b372
US Virgin Islands: Anonymity appears to be an option. A $2 Million Powerball winner was allowed to remain anonymous. Source: https://viconsortium.com/virgin-islands-2/st-croix-resident-wins-2-million-in-latest-power-ball-drawing/
Washington: Not Anonymous/Can use a trust but info subject to open records act. "As a public agency, all documents held by Washington's Lottery are subject to the Public Records Act. Lottery prizes may be claimed in the name of a legally formed entity, such as a trust. However, in the event of a public records request, the documents forming the artificial entity may be released, thereby revealing the individual names of winners." https://www.walottery.com/ClaimYourPrize/
West Virginia: 100% Anonymous if requested by the winner for prizes over $1 million and 5% of winnings remittance. "Effective January 1, 2019, House Bill 2982 allows winners of State Lottery draw games to remain anonymous in regards to his or her name, personal contact information, and likeness; providing that the prize exceeds one million dollars and the individual who elects to remain anonymous remits five percent of his or her winnings to the State Lottery Fund." Source: https://wvlottery.com/customer-service/customer-resources/
Wisconsin: Not Anonymous/Cannot be claimed by other entities. "Pursuant to Wisconsin’s Open Records law (Wis. Stats. Secs. 19.31–19.39), the Lottery is required to disclose a winner’s name, likeness and place of residence. If you win and claim a prize, the Lottery may use your name, likeness and place of residence for any purpose without compensation to you.
Upon claiming your prize, you waive any claims against the Lottery and its representatives for any and all liability which may result from the disclosure or use of such information." "The original winning ticket must be signed by a single human being. For-profit and non-profit entities, trusts, and other non-human beings are not eligible to play or claim a prize." Source: https://wilottery.com/claimprize.aspx
Wyoming: 100% Anonymous if requested by the winner. "We will honor requests for anonymity from winners. However, we certainly hope winners will allow us to share their names and good news with other players." Source: https://wyolotto.com/lottery/faq/
Other countries
Australia: 100% Anonymous if requested by winner. "The great thing about playing lotto in Australia is that winners can choose to remain anonymous and keep their privacy, unlike in the United States where winners don't have such a choice, and are often thrown into a media circus." Source: https://www.ozlotteries.com/blog/how-to-remain-anonymous-when-you-win-lotto/
Bahamas: No current lottery. Source: https://thenassauguardian.com/2013/01/29/strong-no-vote-trend-so-far-in-gaming-referendum/
Bahrain: Not Anonymous. Source: https://bdutyfree.com/terms-conditions1#.X8ru92lOmdM
Barbados: Not Anonymous. "No. Barbados Lottery winners cannot remain anonymous. The Barbados Lottery mandates the winner’s name, address, game won, date won and amount won be provided; however Barbados Lottery winners' home addresses and telephone numbers are confidential." Source: https://www.mybarbadoslottery.com/faqs
Brazil: 100% Anonymous if requested by the winner. Source: https://www.lotterycritic.com/lottery-results/brazil-lottery/
Canada: Not Anonymous. Every provincial lottery corporation in Canada requires winners to participate in a publicity photo shoot showing their face, their name and their municipality. Can seek anonymity if you have specific security concerns (rarely granted). Source: https://consumers.findlaw.ca/article/can-lottery-winners-remain-anonymous/
Carribbean Lottery Countries (Antigua/Barbuda, Anguilla, St. Kitts/Nevis, St. Maarten/Saba/St. Eustatius, and Turks/Caicos): Not Anonymous. "No. Caribbean Lottery winners cannot remain anonymous. The Caribbean Lottery mandates the winner’s name, address, game won, date won and amount won be provided; however Caribbean Lottery winners' home addresses and telephone numbers are confidential." Source: https://www.thecaribbeanlottery.com/faqs
China: 100% Anonymous if requested by the winner. Must appear in a press conference and photo but allowed to wear disguise. Source: https://www.usatoday.com/story/news/world/2015/01/22/china-lottery-winners-mask/22108515/
Cuba: No current lottery. Source: https://oncubanews.com/en/cuba/society-cuba/cuban-traditions/lottery-the-national-game-infographics/
EuroMillions Countries (Austria, Belgium, France, Ireland, Luxembourg, Portugal, Spain, Switzerland, and UK*): 100% Anonymous if requested by the winner. Source: https://www.euro-millions.com/publicity
*United Kingdom: Excludes
*Caymen Islands, and Falkland Islands: No current lottery. Source: https://calvinayre.com/2018/11/02/business/cayman-islands-move-illegal-gambling-doesnt-address-real-issue/ Source: https://simonsblogpark.com/onlinegambling/simons-guide-gambling-falkland-islands/amp/#lottery-falkland-islands
*Anguilla, and Turks & Caicos: Not Anonymous. Source: https://www.thecaribbeanlottery.com/faqs
EuroJackpot Countries (Croatia, Czechia, Denmark, Estonia, Finland, Germany, Hungary, Iceland, Italy, Latvia, Lithuania, Netherlands*, Norway, Poland, Slovakia, Slovenia, Spain, and Sweden): 100% Anonymous if requested by the winner. Source: https://www.euro-jackpot.net/en/publicity
*Netherlands: Excludes
*St. Maarten, Saba, and St. Eustatius: Not Anonymous. Source: https://www.thecaribbeanlottery.com/faqs
Fiji: 100% Anonymous if requested by the winner. Source: https://fijisun.com.fj/2012/11/08/3m-lotto-win-here/
Georgia (Kartvelia): Anonymity appears to be an option. "2.9.1. Prizes and Winners. Each Bidder shall provide details of:....how winners who waive their right to privacy will be treated;" Source: https://mof.ge/images/File/lottery/tender-documentation.pdf
Greece: Anonymity appears to be an option. "The bearer of the ticket shall keep the details of the ticket confidential and not reveal them to any third party." Source: https://www.opap.gen/identity-terms-of-use-lotto
Guyana: Not Anonymous. Source: https://www.kaieteurnewsonline.com/2013/05/16/winner-says-he-was-too-busy-to-collect-78m-lotto-prize/
India*: Not Anonymous. Source: https://www.bbc.com/news/world-asia-35771298
*: Only available in the states of Kerala, Goa, Maharashtra, Madhya Pradesh, Punjab, West Bengal, Assam, Arunachal Pradesh, Meghalaya, Manipur, Sikkim, Nagaland and Mizoram. Source: https://www.indiatoday.in/india/story/lottery-mizoram-nagaland-sikkim-kerala-975188-2017-05-04
Indonesia: No current lottery. Source: https://apnews.com/45eb94ff1b1132470a7aa5902f0bc734
Israel: Not Anonymous by Law, Anonymous in Practice. “[A]lthough we have this right, we have never exercised it because we understood the difficulties the winners could encounter in the period after their win. We provide details about the winner, but in a manner that doesn’t disclose their identity,” Dolin Melnik, then-spokesperson for Israel’s Mifal Hapayis lottery told Haaretz in 2009." Source: https://www.timesofisrael.com/why-the-israeli-lottery-gives-winners-masks/
Jamaica: Not Anonymous. First initial and last name of winner was released but winner was allowed to wear a mask for photo. Source: https://news.e-servicis.com/news/trending/lottery-winner-takes-prize-in-scream-mask.1S/
Japan: 100% Anonymous if requested by the winner. Source: https://www.japantimes.co.jp/news/2017/09/08/business/japans-lottery-rakes-declining-revenues-younger-generation-gives-jackpot-chances-pass/#.XRYwVVMpCdM
Kenya: Not Anonymous. "9.1 When You claim or are paid a prize, You will automatically be deemed to grant to O8 LOTTO an irrevocable right to publish, through all types of media broadcasting, including the internet, for the purposes of promoting the win, Your full name (as well as Your nick name), hometown, photograph and video materials without any claim for broadcasting, printing or other rights" Source: https://mylottokenya.co.ke/terms-conditions
Malaysia: 100% Anonymous if requested by the winner. Source: https://says.com/my/news/a-24-year-old-malaysian-woman-just-won-more-than-rm4-million-from-4d-lottery
Nagorno-Karabakh: Not Anonymous. Source: http://asbarez.com/120737/artsakh-lottery-winner-claims-car-prize/
New Zealand: 100% Anonymous if requested by winner. Source: https://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10383080
North Korea: Not Anonymous. Source: https://www.nknews.org/2018/11/north-korean-sports-ministry-launches-online-lottery/
Northern Cyprus: Anonymity appears to be an option. Source: https://www.pressreader.com/cyprus/cyprus-today/20181124/281590946615912
Oman: 100% Anonymous if requested by the winner. Source: http://www.omanlottery.com/
Philippines: 100% Anonymous if requested by the winner. Source: https://www.rappler.com/nation/214995-ultra-lotto-winners-claim-winnings-pcso-october-2018
Qatar: Not Anonymous. Source: https://www.qatarliving.com/forum/qatar-living-lounge/posts/qatar-duty-free-announces-latest-us1-million
Romania: Anonymity appears to be an option. Source: https://www.thelotter.com/win-lottery-anonymously/
Russia: 100% Anonymous if requested by the winner. Source: http://siberiantimes.com/otheothers/news/siberian-scoops-a-record-184513512-roubles-on-russian-state-lottery/
Samoa: Not Anonymous. Source: https://www.rnz.co.nz/international/pacific-news/191796/samoa%27s-lotto-winner-still-a-mystery
Saudi Arabia: No current lottery. Source: https://www.arabnews.com/police-arrest-lottery-crooks-victimizing-expats
Singapore: Anonymity appears to be an option. Source: https://www.straitstimes.com/singapore/did-you-win-here-are-results-of-136m-toto-hongbao-draw
Solomon Islands: No current lottery. Source: http://www.paclii.org/sb/legis/consol_act/gala196/
South Africa: 100% Anonymous if requested by the winner. Source: https://www.thesouthafrican.com/powerball-results/powerball-winner-r232-million-found-lottery-details/
South Korea: 100% Anonymous if requested by the winner. Source: https://elaw.klri.re.keng_mobile/viewer.do?hseq=38378&type=sogan&key=5
Sri Lanka: Anonymity appears to be an option. Source: http://www.thesundayleader.lk/2010/01/31/where-do-all-the-lottery-winners-go/
Taiwan: 100% Anonymous if requested by the winner. Source: http://m.focustaiwan.tw/news/asoc/201806250011.aspx
Trinidad and Tobago: Anonymity appears to be an option. Source: https://trinidadexpress.com/news/local/student-wins-the-million-lotto/article_3f3c8550-570d-11e9-9cc3-b7550f9b4ad4.html
Tuvalu: No current lottery. Source: http://tuvalu-legislation.tv/cms/images/LEGISLATION/PRINCIPAL/1964/1964-0004/GamingandLotteries_1.pdf
United Arab Emirates: Not Anonymous. Source: https://www.ndtv.com/indians-abroad/shojith-ks-in-sharjah-uae-wins-abu-dhabi-duty-free-big-ticket-4-million-jackpot-rejects-calls-2032942
Vatican City: Anonymity appears to be an option. Source: https://cruxnow.com/vatican/2018/12/04/popes-white-lamborghini-up-for-raffle-winner-gets-trip-to-rome/
Vietnam: Anonymity appears to be an option. Source: https://ampe.vnexpress.net/news/news/vietnamese-farmer-identified-as-winner-of-4-million-lottery-jackpot-3484751.html
Windward Lottery Countries (Dominica, Grenada, Saint Lucia, Saint Vincent and the Grenadines): Not Anonymous. "Prize winners asked to do so by Winlot must give their name and address, and satisfactory establish their identity. All winners of the Jackpot (Match 6) prize will be photographed. Note that Winlot and CBN reserve the right to publish the names, addresses and photographs of all the winners." Source: http://www.stlucialotto.com/snl/super6_rules_regs.php
submitted by Kingofearth23 to LotteryLaws [link] [comments]

Do You Have to Pay Taxes on Slot Machine Winnings?

We all love to read stories about big wins and imagine ourselves in the shoes of those winners. But, have you ever thought about what happens at that very moment after successfully beating the slot machine? Usually, the slot machine locks up and, in most cases, you hear the music and see the flashing lights on top of the machine. But one of the first questions every player asks is whether they have to pay taxes on casino winnings? Well, you’re about to find out!

Taxes on Slot Machine Winnings in USA

In the USA, when a lucky player hits a jackpot, there’s the option of receiving the winnings in cash or check. In case it’s a large sum, it’s usually paid by check. However, the IRS only obliges the casinos to report winnings that are larger than $1,200.
Of course, all winners are obliged to show a proper identification— a valid ID or passport. When the casino checks for your identification they also look at your age to make sure you are officially and legally old enough to play. As the minimum legal age for gambling varies from state to state, be sure to check it out before you decide to play.

Do I Have to Report All Winnings?

All gambling winnings received from slot machines are subject to federal taxes, and both cash and non-cash winnings (like a car or a vacation) are fully taxable. Apart from slot machines, the same applies to winnings from lottery, bingo, keno, poker or other games of chance. So, if the amount won on a slot machine is higher than $1200, the casino is required to report it. In other words, all your gambling winnings have to be reported on your tax return as "other income" on Schedule 1 (Form 1040), line 8.

Slot Machine Winnings in W-2G Form

In case it happens to you and you snag that big win (which we hope one day you will), it’s useful to know that casino or other payer must give you a W-2G Form, listing your name, address and Social Security number. So, if the winnings are reported through a W-2G Form, federal taxes will be withheld at a rate of 25%.
If, however, you didn’t provide your Social Security number (or your Tax Identification Number), in that case the withholding will be 28%. Either way, a copy of your Form W-2G should be issued, showing the amount you won alongside the amount of tax withheld. One copy needs to go to the IRS, as well.
Aside from slot winnings, Form W-2G is issued to winners of the following types of gambling activities like:
However, not all gambling winnings are subject to IRS Form W2-G. For instance, W2-G forms are not required for winnings from table games like blackjack, baccarat, and roulette, whatever the amount. You’d still have to report your winnings to the IRS, it’s just you won’t need to do it through W-2G Form.

Are My Slot Losses Deductible?

The good news is that you can deduct your slot losses (line 28 of Schedule A, Form 1040), while the bad news is gambling losses are deductible only up to the amount of your wins. In other words, you can use your losses to compensate for your winnings. So, let’s say you won $200 on one bet, but you lost $400 on one or a few others, you can only deduct the first $200 of losses. Meaning if you didn’t win anything for a year, you won’t be able to deduct any of your gambling losses.
In order to prove your losses, you need to keep good records and have suitable documents. So, whenever you lose, keep those losing tickets, cancelled checks and credit slips. Your documentation must include the amount you won or lost, a date and time, type of wager, type of your gambling activity, name of each casino/address of each casino you visited and the location of their gambling business. You may as well list the people who were with you.

Do State and Local Taxes Apply Separately?

Yes, you are required to pay your state or local taxes on your gambling winnings. In case you travel to another state, and snag some huge winning combo there, that other state would want to tax your winnings too. But don’t worry, you won't be taxed twice, as the state where you reside needs to give you a tax credit for the taxes you pay to that other state.
Keep in mind though that some states like Connecticut, Massachusetts, and Ohio don't allow gambling losses.

Online Slot Taxes

Whether you usually spin the reels of your favourite casino games in land-based casinos in the US, overseas casinos, or online casinos, all income for the citizens of the US is taxable. As a US citizen, you are required to send Form W2G for all winnings from a slot machine (not reduced by the wager) that equals to or is more than $1,200.

Taxes on Slot Machine Winnings in UK

As a resident of the United Kingdom, your gambling winnings won’t be taxed. Unlike the USA mentioned above, you’ll be allowed to keep whatever it is that you have won and earned in Britain, even in case you are a poker pro. Then again, you won’t be able to deduct any losses you might collect.
It doesn’t really matter if you win £5 or £5 million playing online slots, your winnings will be tax-free as long as you reside anywhere in the UK, be that in England, Wales, Northern Ireland or Scotland.

Taxes on Slot Machine Winnings in Canada

If you are a recreational player who lives in Canada, we have good news for you. When it comes to gambling, you don't have to pay taxes as your winnings are totally tax free. According to laws in Canada, gambling activities don’t fall under the category of constant source of income, therefore your winnings will not be taxed.
Canadians don't even pay taxes on their lottery winnings. The only exception here are professional gamblers who make a living from betting and are, therefore, obliged to pay taxes. Keep in mind though, this is the current situation - laws in Canada change frequently, which may also include tax laws.

Taxes on Slot Machine Winnings in Australia

In case you reside in Australia and like to visit casinos from time to time, you’ll be happy to find out that your winnings in Australia will not taxed and here are 3 core reasons for that:
Of course, taxation varies from state to state.

Taxes on Slot Machine Winnings in New Zealand

Unlike in Australia, where even professional players can claim they are recreational, in New Zealand slot machine winnings (and any other winnings from casino games) are considered taxable income, in case the player has little income from other resources.
But, apart from professional gambling, it is very unusual for winnings to be taxed in New Zealand. Most often, gambling is considered recreational and not income, so players can enjoy their gameplay as they do not have to pay taxes on their winnings.
submitted by askgamblers-official to onlinegambling [link] [comments]

Removed comments/submissions for /u/thatguy3019

Hi thatguy3019, you're not shadowbanned, but 90 of your most recent 97 comments/submissions were removed (either automatically or by human moderators).

Comments:

ggow2r7 posted in stimuluscheck on 22DEC20:
Right. People see all the lies both sides tell to get votes and then still believe. We are so damn gullible.
ggoaatr posted in stimuluscheck on 22DEC20:
I'm ready
ggnjyf6 posted in stimuluscheck on 22DEC20:
Be careful. The states decide. Texas already said they want their overpayment back. They aren't charging interest and aren't giving a time line.
ggm7akj posted in stimuluscheck on 21DEC20:
Yeah I made it to the last page too. I think the last words are "Fuck you and Thank you for the billions."
I'm pretty sure that is referring to all the American people. It should be okay though....
ggm51gk posted in stimuluscheck on 21DEC20:
Both sides are evil. Dems just lie to your face and tell everyone what they want to hear. They use it to gain votes. They do it every election. We will give you all this free stuff if you vote for...
ggm4hxb posted in stimuluscheck on 21DEC20:
You all are forgetting trump. Mitch wouldve done whatever trump told him to do pre-election. Trump needed the bill to gain votes. Dems didn't want a bill because they didn't want him to get credit....
ggjfvkw posted in stimuluscheck on 21DEC20:
Stimulating the economy!
ggjedtm posted in stimuluscheck on 21DEC20:
They are old enough to vote.... that's why we are in this mess to begin with
ggj1gc0 posted in stimuluscheck on 20DEC20:
He has to post both sides so he can say he is correct regardless. Lol
ggj16uw posted in stimuluscheck on 20DEC20:
Those countries are way smaller. Its easier for masses of people to organize whenever they dont have to travel far. Americans get over things easily. We don't have the fight in us like other...
ggivdtr posted in stimuluscheck on 20DEC20:
I think you will get yours whenever you file your taxes next year. Not sure
ggivb6l posted in stimuluscheck on 20DEC20:
Did you get money for them on the last one? I think it will be a repeat of last time.
gggtc7k posted in stimuluscheck on 20DEC20:
I traveled outside the states a lot. The majority thinks every single part of the states is one big NYC or LA. They base it off of the media and movies. They don't believe me and it doesn't help...
gggss4g posted in stimuluscheck on 20DEC20:
Thats all the dems did this whole time. They cave into everything. We need officials for the people and that have a backbone. Gop is like an old school pimp and the dems are what Dave chappelle...
gggs78d posted in stimuluscheck on 20DEC20:
You still have one? I sold mine to pay rent.
gggrwa4 posted in stimuluscheck on 20DEC20:
I'm worried that the dems gave in without getting nothing in return. This all has been completely one sided. The 600 dollar checks aren't because of the dems. Its mitch if you think about it. He...
gggrjbi posted in stimuluscheck on 20DEC20:
No they won't. All politicians talk but they fall in line when told to get in line. They cant make enemies in their own party or they will be outcast.
gggr48y posted in stimuluscheck on 20DEC20:
We would've never been like new Zealand, Australia, Korea or whatever other country you want to compare us to. You have to stop comparing us to other countries. You can't compare those countries to...
gggqhvw posted in stimuluscheck on 20DEC20:
That may be the next game play. They must have x amount of senators to vote. If none show up, no vote. No stimulus. They probably left the country lol
gggpxdu posted in stimuluscheck on 20DEC20:
Its not nothing. They get to go home for Christmas after patting themselves on the back.
gggprkl posted in stimuluscheck on 20DEC20:
2 got to vote again in 2 years. People forget.
gggpofj posted in stimuluscheck on 20DEC20:
They always gamble and it seems like the gop is always the dealer. I rather take my chances playing 3 card monte on the street.
gggp9om posted in stimuluscheck on 20DEC20:
They are both on the same team behind closed doors. That pop loan forgiveness and tax deductible for business can from both sides so companies don't get a huge tax bill. The people got paid nothing...
gggoltd posted in stimuluscheck on 20DEC20:
I think this too. They pushes benefits to when the vaccine starts rolling out in larger quantities in march/April. Then they will say something about that and heard immunity. They don't care if...
gggoagk posted in stimuluscheck on 20DEC20:
What happens if the senate is lost? Are you all not tired of depending on a congress that only serves itself? It shouldn't matter who wins the senate races. People need help
ggetzj3 posted in stimuluscheck on 19DEC20:
Companies increase costs without wages going up. Companies will definitely increase costs. They would have to pay extra in employee costs so they will take it from their customers. I agree. The...
gge4wsc posted in stimuluscheck on 19DEC20:
Its called quantitative easing. Feds buy up assets to control or help the economy. Japan is notorious for this
gge4pkh posted in stimuluscheck on 19DEC20:
Stock market has been rising even though a lot of things are shutdown. The feds used their power to keep it afloat while trump was in office. If the stock market falls, rich people get mad. The...
ggbl194 posted in stimuluscheck on 19DEC20:
They both will leave at the same time and blame each other. 1 side may walk out a minute or 2 early, but that's about it.
ggbkjy3 posted in stimuluscheck on 19DEC20:
If I remember correctly, income tax didn't start until prohibition. They needed to make revenue after they couldn't make it from alcohol. Alcohol came back, but they never dropped taxes. The same...
ggbiy3l posted in stimuluscheck on 19DEC20:
They will have another one that goes until Christmas eve and then they will leave until next year. They are all in on it.
gg910c0 posted in stimuluscheck on 18DEC20:
Math is crazy. Ceo makes 1000 an hour. Bag clerk makes 8 dollars an hour. The average is 504 dollars. You see the difference?
gg5qwlw posted in stimuluscheck on 17DEC20:
They gambled before this election. It didn't turn out well for anyone. I hate that both sides choose to gamble with our lives
gfywmnm posted in stimuluscheck on 15DEC20:
Yes. I have several friends that worked for American companies overseas. Their unemployment is based on the state the company is headquartered in because the company was required to pay unemployment...
gfyvsgd posted in stimuluscheck on 15DEC20:
I tried this but the app told me they sold out. They do keep pushing the ads
gfyg92f posted in stimuluscheck on 15DEC20:
I dont trust polls. I always see poll results but never actually see the polls whenever they are posted for votes. Also, it can be skewed to fit whatever you want. For example... if I wanted to see...
gfyfp3i posted in stimuluscheck on 15DEC20:
I wouldn't put my trust into it. I mean look at what opioids are doing. That company pushed opioids, sold the cure, and then had billions so they don't have to pay for those they hurt. You can test...
gfyf81i posted in stimuluscheck on 15DEC20:
Even more reason to be worried. Sure companies don't lie and rush out things for profit without everyone in the world competing against you. Thats why there is always those infomercials 5 years...
gfyez4b posted in stimuluscheck on 15DEC20:
No money to state and local government and no liability shields for businesses. You wouldn't be allow to take your employer to court if they don't protect you from covid properly. It takes...
gfydhcu posted in stimuluscheck on 15DEC20:
Yeah mitch and Pelosi are each other secret Santa lol
gfwr2hy posted in stimuluscheck on 15DEC20:
Yup. There is enough money for everyone.
gfwqwd6 posted in stimuluscheck on 15DEC20:
Look at the stock market and look at days our government acts like an ass. The stock market is supposed to be future looking so it does change. Well, not as much as it supposed to. The feds are...
gfwqr7t posted in stimuluscheck on 15DEC20:
Its not a fix amount whenever congress can literally pick a random number. They could pass a 3 trillion or 3 dollar bill if they really wanted to.
gfvqgy2 posted in stimuluscheck on 15DEC20:
They probably had this sitting in a backroom since summer. They just hit print today. Everything these days is scripted. I wouldn't be surprised if our government wasn't.
gfvod0q posted in stimuluscheck on 15DEC20:
So the Republicans win. Dems aren't fighting for us at all. A high school debate team could get a better deal than what they are getting. No help for the people.
gfv15k2 posted in stimuluscheck on 14DEC20:
FYI
Its not just a texas thing. Its all states. Cares act is dated. Regardless of how many weeks you still have, they cant pay you for any weeks after dec 26. They are saying congress would need to...
gfv0y2x posted in stimuluscheck on 14DEC20:
Its not just a texas thing. Its all states. Cares act is dated. Regardless of how many weeks you still have, they cant pay you for any weeks after dec 26. They are saying congress would need to...
gfv08ax posted in stimuluscheck on 14DEC20:
Why did it take a week for them to do this? They divided the bill into 2 parts and made no real changes. I guess it took them a week to find 2 pieces of paper. It wouldn't surprise me.
submitted by MarkdownShadowBot to CommentRemovalChecker [link] [comments]

11-13 11:15 - '"Modi's Rockefeller": And the concentration of power in India' (self.india) by /u/tryingmybest8 removed from /r/india within 257-267min

'''
Link to article in FT for those who can access it: [[link]2
When the Indian government approved the privatisation of six airports in 2018, it relaxed the rules to widen the pool of competition, allowing companies without any experience in the sector to bid. There was one clear winner from the rule change: Gautam Adani, the billionaire industrialist with no history of running airports, scooped up all six.
His clean sweep was met with outrage. The Kerala state finance minister said Mr Adani winning the 50-year lease to operate the Trivandrum International Airport was an “act of brazen cronyism” that showed how the central government is favouring politically connected tycoons. India’s aviation minister replied that the open bidding process was carried out in a “transparent manner”.
Overnight Mr Adani became one of the country’s biggest private airport operators. He is also its largest private ports operator and thermal coal power producer. He commands a growing share of India’s power transmission and gas distribution markets, and this year announced that his renewables arm Adani Green Energy would invest $6bn to build solar plants with a capacity of 8GW, one of the largest renewables projects in the world.
Along with Reliance Industries chairman Mukesh Ambani, Mr Adani is today one of the most visible tycoons in the country, whose prominence has accelerated in the years since Narendra Modi was elected prime minister in 2014. Like both Mr Modi and Mr Ambani, Mr Adani comes from the western state of Gujarat, where he was a key supporter of Mr Modi and his ruling Bharatiya Janata party as it rose to dominate national politics.
When Mr Modi took office, he flew from Gujarat to the capital New Delhi in Mr Adani’s private jet — an open display of friendship that symbolised their concurrent rise to power. Since Mr Modi came into office, Mr Adani’s net worth has increased by about 230 per cent to more than $26bn as he won government tenders and built infrastructure projects across the country. “Nation building” is Mr Adani’s motto and he likes to talk about helping India achieve energy security.
But as New Delhi accelerates its privatisation drive to offset the severe economic shock of the coronavirus pandemic, Mr Adani’s mushrooming empire has become a focus of criticism for those who believe that capital is being concentrated in the hands of a few favoured corporate titans at the expense of India’s middle class.
Some argue the concentration of economic power in family-run conglomerates is a way to fast-track India’s economic development, like the chaebol did for postwar South Korea. But critics say the rapid consolidation of state assets is creating monopolies and stifling competition.
“Is India going to move towards the east Asian model or the Russian model? So far the tendency looks towards the latter [more] than the former,” says Rohit Chandra, assistant professor of public policy at the Indian Institute of Technology Delhi. “It’s not clear whether India’s concentration of capital will lead to the long-term benefit of Indian consumers.”
Whether India’s industrialisation leaves it more closely resembling the US at the turn of the 20th century when the likes of oil magnate John D Rockefeller wielded vast influence, or Russia in the 1990s, Mr Adani’s voracious appetite for dealmaking and political instincts have ensured he will play a central role. “Gautam Adani is very powerful, very politically well connected and very astute at using that power,” says Tim Buckley, an energy analyst based in Australia who tracks India. “He is Modi’s Rockefeller.” The Adani Group declined to comment for this article.
Beyond Gujarat
The meteoric rise of Mr Adani started when he offered support to Mr Modi in 2003. At the time, the politician — then chief minister of Gujarat — was being heavily criticised for failing to control violent riots that had rocked the state a year earlier.
More than 1,000 people died, most of them Muslims, and Mr Modi was being shunned by India’s business elite and the world — he was barred from entering the US for almost a decade until he became prime minister.
But when some of the country’s most powerful tycoons grilled him onstage over the deaths at an event hosted by the Confederation of Indian Industry (CII), Mr Adani broke ranks with the old business elite, potentially risking his future for the under-fire politician.
The businessman then helped set up a new industry body to sideline the CII and was behind Vibrant Gujarat, a glitzy biennial summit that would introduce Mr Modi to the world stage and cement his reputation as a pro-business leader. The gamble paid off for Mr Adani, a plain speaker who sets himself apart from the corporate establishment in Mumbai by dividing his time between the company’s headquarters in Ahmedabad, Gujarat’s largest city, and New Delhi, the Indian capital.
“These are new Indians running the government, they have a completely different view of the world and their view is very local,” says an executive present at the acrimonious 2003 event. “Old relationships have flowered and flowered because these are the people they [the government] feel comfortable with.
“Adani was big time in Gujarat and now he’s spreading his wings,” he adds.
Mr Adani, 58, is a rarity among the ranks of Indian dynasts: he is a self-made man, born into a family of eight that practised Jainism, an Indian religion that emphasises ascetic beliefs. After dropping out of college to try a career in Mumbai’s diamond industry he moved back home to import plastics for manufacturing, a business that would lay the foundation for his conglomerate.
In the late 1990s he won the rights to operate Mundra port, located on the mangrove-lined Gujarat coast on the Arabian Sea. He expanded terminals and gained scale, using the cash from operations and a gift for navigating Indian bureaucracy to acquire and develop other ports.
Since then, he has taken on large amounts of debt to build a pit-to-plug vertically integrated power supply chain and a portfolio of businesses spanning defence to data centres and even apple farms in the mountainous state of Himachal Pradesh.
The Adani Group’s total outstanding debt came to more than $30bn as of November 11, according to data from Dealogic, including $7.8bn worth of bonds and $22.3bn in loans. High debt is nothing new among Indian conglomerates but the Adani Group’s rapid expansion has raised concern.
Credit Suisse warned in a 2015 “House of Debt” report that the Adani Group was one of 10 conglomerates under “severe stress” that accounted for 12 per cent of banking sector loans. Yet the Adani Group has been able to keep raising funds, in part by borrowing from overseas lenders and pivoting to green energy.
“Groups that are perceived as politically connected can still tap the banks for loans,” says Hemindra Hazari, a Mumbai-based banking analyst. “If you are any other highly stressed group, then it is difficult for you.”
Going Green
The latest front Mr Adani has opened in his quest to dominate Indian infrastructure is renewables, which serve the dual purpose of supporting Mr Modi’s “self reliant India programme” to help overcome the economic shock of the pandemic and of helping to rehabilitate his image with environmentalists.
His Carmichael coal mine project in Australia was the target of a massive campaign that depicted him as a climate change villain. Teenage environmentalist Greta Thunberg received more than 70,000 likes on her tweet in January calling for people to #StopAdani. The mine project — which was initially valued at $16bn — is going ahead, though some investors are dropping out as boards get stricter on sustainability targets.
While it has been a good year for India’s solar sector, Adani Green Energy stands head and shoulders above its peers. The value of Azure Power, a rival listed in New York and valued at about $1.4bn, has climbed almost 130 per cent this year. Adani Green, which has pledged to build 25GW in renewable power by 2025 has soared 440 per cent, giving it a market capitalisation of almost $20bn.
Mr Adani’s personal stake in the solar unit is valued at $13.9bn and, once liabilities are accounted for, amounts to about half of his net worth, according to analysis from Bloomberg.
International investors are paying attention. In February, French energy group Total SA announced it was investing $510m in Adani Green. But a banker who has followed the Adani Group for more than a decade at a US investment bank questions Adani Green’s market valuation in light of its low liquidity, with barely $2m in shares traded a day.
Adani Green, which has yet to record a profit and tapped international debt markets for $863m in funds last year, according to Dealogic, is an example of the Adani Group loading up on leverage to finance expansion. New ventures in the past have been underpinned by Adani Ports. Analysts note that the Adani Group has taken measures in the past year to reduce reliance on what the banker calls “funding arbitrage”, a common tactic for Indian tycoons in which bonds issued by profitable arms help fund new ventures.
Mr Adani continues to enjoy ample access to capital, both at home and overseas, and can tell investors that he has never defaulted on a loan despite highly leveraged balance sheets. Adani Group companies tapped international debt markets with bond sales of more than $2bn and Adani Gas sold a 37.4 per cent stake to Total for a reported $600m, which gave him ample cash flow to weather the shock of the pandemic when it hit.
And international groups are queueing up to partner with the mogul. Earlier this month, Adani announced a strategic collaboration in hydrogen and biogas with Italian gas and infrastructure group Snam.
Mr Chandra says the foreign companies are relying on connected business leaders to navigate India’s volatile regulatory and tax landscape. “This capital is going to favoured companies, not because they deserve it, but because they are the ones that can mediate [the regulatory environment],” he says.
Growing Risks
The ascent of the Adani Group has been plagued with controversy and allegations ranging from fraud to environmental abuses. In February, it pleaded guilty to misleading the environmental authorities in Australia over land clearing at the Carmichael mine site and was fined A$20,000.
Along with a group of other companies, it is also being probed by India’s Directorate of Revenue Intelligence in connection with allegations of over-invoicing billions of dollars worth of coal imports from Indonesia. The Adani Group has in the past said it “strongly denies the allegations of overvaluation”.
The company has also been dogged by claims that it has been on the receiving end of preferential treatment in regulatory decisions that have made otherwise risky projects much more attractive.
One claim relates to the Godda coal-fired power plant under construction in Jharkhand state, which plans to import coal from Australia and export power to neighbouring Bangladesh, a country with an excess of coal plants in the pipeline.
Analysts estimate that Adani Power will charge customers more for Godda’s electricity than other plants in Bangladesh and India. The office of the state accountant general warned in a leaked audit report that the higher tariffs represented “preferential treatment” that would result in “undue benefits”.
In the final months of Mr Modi’s first term in 2019, New Delhi gave the green light for Mr Adani’s plant to be declared a special economic zone, a designation that comes with significant tax benefits. Godda became Adani’s second SEZ after Mundra port.
Opponents have filed a petition in the High Court of Jharkhand against the state government alleging that Adani Power acquired the land on which Godda is built for private use and that the transfer violates ownership rules protecting tribal groups living in the area.
Adani Power using the land to build Godda is “completely illegal, void and arbitrary”, argues Ranchi-based human rights lawyer Sonal Tiwary. “The whole profit goes to Adani, the people of Godda don’t receive anything.” The state government has not filed a counter affidavit yet.
In response to land acquisition allegations, Adani Power said in a statement earlier this year that the land was acquired “within the rules”. It added that it “had not made any requests to the Government of Jharkhand to alter energy policy rules or provisions”.
Political Risk
The Adani Group’s expansion has become even more marked as the pandemic ravaged India’s economy. The country’s gross domestic product is expected to contract by around 10 per cent in 2020, with the weight of Covid-19 cases seemingly ruling out a swift return to normality.
Though India’s sovereign debt rating is at risk of a downgrade to junk status — a result of the pandemic which has killed more than 127,000 people and infected over 8.6m in the country — few think Mr Adani’s access to capital will face serious constraints.
Abhishek Tyagi, a senior analyst at Moody’s, says for large corporates like the Adani Group, “there are other avenues for raising capital”, including partnerships with the likes of Total as well as domestic banks and financial institutions.
“A number of corporates which are in high yield do access [international] debt capital markets, even in India,” he adds, pointing to a $1.4bn bond issued by Vedanta, the Indian mining company, in August.
The question is whether Mr Adani can maintain the extent of his interests in Indian infrastructure, with some suggesting his political connections could become a liability. “If Modi loses on election day 2024, you’ll see the [Adani] stocks will correct immediately,” says an investment analyst in Mumbai. “If your protector gets dislodged then you lose access to that capital.”
But for others, Mr Adani has become too big to fail. “He’s become one of the most powerful men in India in the space of 20 years,” Mr Buckley says. “What he touches turns to gold.”
'''
"Modi's Rockefeller": And the concentration of power in India
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Author: tryingmybest8
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18th Parliament President’s Address

Dhawra nguna dhawra Ngunawal.
Honourable senators and members of the Parliament of Australia, ladies and gentlemen. I acknowledge the traditional owners of the land on which we meet, the Ngunawal people, and pay my respects to their elders, past and present, emerging leaders and all Aboriginal and Torres Strait Islanders gathered here today.
On October the 11th, millions of Australians participated in the core ritual of democracy; an election. They voiced their thoughts, their opinions and their beliefs at the ballot box and declared that over the next three months, that they would like their honest, respectable aspirations to be backed and supported by the parliamentarians which they elected. It is through the core values shared by Australians, that my government will seek to succeed in their aspirations to make a greater Australia for all.
Australia is a great nation and it is forever enlightening to know that my government is one which upholds the values of freedom and will seek to bolster the personal and economic potential of each and every Australian. The tenets of freedom includes our ability to engage in thought, worship, speech, association and choice — the inalienable rights to life, liberty and pursuit of happiness in our humane society.
In preserving our species, my government will seek to protect the right to life at all stages — before birth, childhood, working age and retirement. During pregnancy, my government seeks to ensure that parental consent is involved, that the life of the prospective child is held in high regards under law and that the government recognises 21st century developments in contraception, which we embrace. Our children are the future, and my government will seek to protect Australia’s children from child abuse and sex crimes by harshening penalties for such crimes. My government wishes to preserve the value of life, through changing criminal punishment to reflect the societal value placed on life. By pushing for gender equality and pushing to close the gap between Aborigines and wider Australia through job creation, healthcare investment and the preservation of equal opportunity, my government will truly be one for all Australians.
Marriage is an institution for the private sector and my Government will seek to remove the government from marriage completely; reforming all current marital benefits to ‘civil unions’. Nearly two thirds of Australians are religious, and my government will seek to ensure that religious discrimination is eliminated in Australia, however my government will also legislate to ensure that religion is treated equally under the law just as the wider community is. My government will restore private property rights, remove restrictions to rural landowners to the full utility of their land, and at no cost to the rural landowner, restore all farmland to rural landowners who have been compelled to sell or abandon their farms because they were made economically non-viable through unconstitutional laws. My government will also seek to improve the health and economic prosperity of Australians through the outlaw of daylight savings; a bureaucratic measure which pains millions of Australians.
My government is one which believes in the separation of powers and decentralisation; government is as government does. Through granting Australians equal rights under the eyes of fair legal frameworks, the freedom of the people to change this framework is key to ensuring a humane democracy. Thus, my government is committed to ending the war against West Wimmerans — we will deliver on a referendum for West Wimmera statehood and allow for their voices to be heard and their chains to be unshackled.
Government's role is to nurture and encourage Australians through incentive rather than to burden through bureaucracy. My government is one that will fondle the private sector and facilitate growth, rather than to compete with them as businesses and individuals are the true creators of wealth and employment. Through competitive enterprise and consumer choice, Australia can truly become a strong nation which rewards the tireless hours and hard efforts Australians put in at work, each and every day.
Jobs and Growth is what my government believes in and will pursue this outcome through a focus on promoting Australia’s goods and services. The minerals industry is a prevalent one in Australia, yet we do not process and refine them here in Australia. We know that what Australia makes, makes Australia. My government will be pursuing the Hydrogen Steel plan to create over 25,000 jobs and $65 billion in annual exports as a result of renewable powered steel production. My government will create jobs through a compulsory “Work for the Dole” program, with participants transferred to a job guarantee program with employers being paid the equivalent of Newstart for each new full-time employee. The WorkChoices Apprenticeship scheme will return to encourage blue-collar employment to boost youth employment, whilst Trade Support Loans will also be introduced to back loans for new apprentices.
My government will boost investment in Australia through an extension of trade, superannuation reforms, industry regulation changes and home ownership policy. It will be mandated that superannuation is to be invested in Australia only, with super access allowed for home loan deposits and the age limit for compulsory super payments to be abolished to fight ageism in the workplace. With the fast-track completion of the Inland Rail Project and new deep-water ports to be constructed on the eastern seaboard, along with free-trade zones around logistics hubs, our trade will be immensely boosted to support growth in various Australian industries. Our industries will also be strengthened with the bans on fracking, online gambling, alcohol advertising to be lifted; whilst post stamps and palm oil are further regulated. Home ownership is a priority for my government, with a cap on all housing developments sold to foreigners, a cap on negative gearing and tax deductions on home loans interest payments.
It is also apparent that industry reforms are necessary to protect workers and our economy. My government will strengthen unions and workers rights with a return of the ABCC and laws which ensure that unions and union leaders are given the same treatment as corporations and company directors. Australian Banks will also no longer get a free pass under my Government, as unfair penalty fees are banned and agricultural loans are regulated.
Mass tax reforms will unleash the shackles of the economy, with a variety of tax changes to occur. My government intends to slash the corporate, income, capital gains, fuel, alcohol, tobacco, fringe-benefits and luxury car taxes over the upcoming financial year, whilst removing electricity supply from GST and returning gas royalties to the Commonwealth. Over $40 billion will be returned to the Australian people directly, along with boosted wages, jobs, investment and economic growth.
My Government is committed to developing massive infrastructure projects around the country, beginning with the proposed City of Sada in South Australia. My Government is also committed to expanding communication lines, wireless network towers, and satellite coverage for rural Australians. In addition, it is committed to expanding irrigation projects, dams, artificial bodies of water, and other agriculture aids. We will also introduce a revolutionary plan that would increase the country's water storage by double, effectively ending drought through ambitious projects, such as continuing the New Bradfield Scheme and a multi-stage Mountain Mob Plan. My Government is also ensuring the expansion of the Commonwealth’s road and railroad systems to connect more people across the country at a faster pace, especially with heavy investment into light rail. My government is committed to providing high quality infrastructure and transport to all Australians. In an increasingly urbanised Australia, we need to ensure that rural areas are not left behind in infrastructure and transport planning, and ensuring that all of Australia is given the infrastructure it needs to thrive.
The encouragement and facilitation of wealth so that all may enjoy the highest possible standards of living, health, education and social justice, is essential in creating equal opportunities for all Australians. My Government is committed to ending the COVID-19 pandemic in our country once and for all, and it is committed to fund the resources needed to win this war. My Government will amend the Emergency Government Control and Streamlining of Industry Act 2020 to reincorporate the definition of a public health crisis as the original version contained in order to be able to implement the provisions of the Act for this pandemic emergency. Improving healthcare is a priority for my government who will seek to reduce the Medicare levy threshold for senior Australians, phase down Lifetime Health Cover and the Medicare Levy Surcharge, include dental care within medicare coverage, increase general access to psychologists, establish photographic identity on medicare cards, promote a competitive market among savings accounts providers including transparency with respect to fees, operating expenses and remuneration of trustee and promote comparison shopping by requiring health, disability and aged care providers to publish price lists.
My Government is dedicated to the advancement of this nation’s education systems and standards, while also maintaining a sound economic approach towards education. My government will commit to implementing a National School Health Plan in this nation, to ensure that the next generation of our children will grow up with proper fitness levels and proper nutrition. My government will also implement a Teaching Excellence Scholarship program for all students who earn above 80 in the ATAR, with the provision that they are to qualify as and work as teachers in an Australian government school for a set period of time. This will be combined with an advertising program and structural reforms to teaching rolls in education institutions to encourage more high school graduates to engage in Bachelors of Education. My government will also roll back some of the free university programs in this nation, to ensure the proper funding of all facets of education in this nation. The program will remain free for those coming from households earning a combined $90,000 dollars or less, with the reintroduction of HECS fees for those who fall above that line.
My Government is committed to providing capacities for law enforcement on the local, State, and Federal levels to deal with criminal affairs, counter-narcotic operations, counter-insurgency and riot control operations, and counterterrorism operations. My Government is also committed to reforming all law enforcement departments within the nation, whether they be local forces, State forces, or the Australian Federal Police and other Commonwealth policing forces, by strengthening the Australian Commission on Law Enforcement Integrity, reforming the training and education aspect of policing and police recruitment, and preventing police unions from holding a major grasp on the judicial system and freeing thousands of police officers who commit crimes against the people.
Australia has a constructive role to play in maintaining world peace and democracy through alliance with other free nations, which is met through maintaining our strong alliances with nations that share our values of freedom, democracy and productive international discourse. My Government is boosting Australia’s international relations while maintaining our moral integrity as a nation that respects the sovereignty of others. We will continue to be active members of the United Nations and other international organisations. My Government will expand Australia’s role as the largest nation in the Pacific region and secure good ties and alliance treaties with our neighbours, particularly New Zealand, Fiji, Papua New Guinea, and others. We will also increase and improve our diplomatic and economic relations with the United States, the United Kingdom, the European Union, India, and Japan to ensure Australia is not reliant on one nation for trade any longer. My Government is also committed to combating the dangerous influence of the People’s Republic of China and holding them to account for their actions in Hong Kong, Xinjiang, and Wuhan in all the international forums possible and continue to call for an international investigation of the COVID-19 outbreak and the causes thereof, especially in relation to the Chinese government. My Government is also seeking to expand relations with the nations of the Quadrilateral Security Dialogue to provide better relations with each other and engage in mutual alliances in defence, trade, infrastructure, student exchange programmes, and many other actions.
My Government is committed to returning all Australian military personnel home from all active deployments abroad by Christmas. In addition, my Government is committed to the streamlining and upgrading of current military technologies in the defence industry without increasing spending to safeguard our nation’s defence more easily and, ultimately, reducing costs required for maintenance and replacement. My government is committed to stopping the deaths at sea, which are a result of mass boat arrivals. My government strives to turn back boats at sea, and prevent further people smuggling operations in Australia. My government will protect the Australian people and crackdown on trafficking. My government will strengthen migration character requirements and ensure that all migrants are assessed equally.
In preserving Australia's natural beauty and the environment for future generations, my government seeks to establish the Green Australia Scheme Commission to regulate the programmes of the Green Australia Scheme which will plant over 30 million new trees and form 3 new national parks. My government will abolish the carbon tax, which is expected to kill off nearly 100,000 jobs; and replace it with a market-based, cap and trade Emissions Trading Scheme. My government will exterminate poisonous species of fish, such as carp, in our waterways with controlled herpes and spur economic growth in regional communities to upskill regional Australians and create vast job opportunities with a Regional Jobs and Investment Fund.
I have the utmost confidence that my Government will deliver for Australians in this time of need, and that my Government will deliver what was previously specified to the best of their abilities. There will be a budget that will allow Australians to keep more of what they earn, and my Government will ensure that our tax plan is one that makes sense for the context of the Australian family. The excessive burden that past Governments have imposed on the Australian family must come to an end, and my Government’s formation marks the return of a previous crusade. My Government will also end the urban-rural divide, and my Government will seek to make Australia a more equitable place to live regardless of what region one finds themselves to reside in.
As the President, I find myself in a position that warrants an alternative title of peacemaker, however peace must be upheld by all politicians in the land, and I instruct this Parliament to go forth and conduct their business in a civil manner and move forward from whatever feelings and emotion that the recent election may have espoused as one. Australia must be bold, be brave, and be grateful that regardless of whomever leads us that the institutions our forefathers handed down to us are in safe hands, now more than ever before. This upcoming parliament may be divided in houses, but we are a nation bound together by the common bond of mateship and adaptation. We will be tough when needed, but also compassionate and adaptable with change.
I thank all honourable Senators and Members of Parliament for attending this momentous occasion. May the books of history look down upon each and every one of you favourably, may God guide your every path and may God bless Australia.
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gambling winnings tax australia video

Tax Associates Tax Tips - Gambling Winnings - YouTube 14-Times Lottery Winner Finally Reveals His Secret - YouTube Tax Preparation And Gambling Winnings - YouTube HOW TO FILE YOUR TAXES ON GAMBLING WINNINGS IN OKLAHOMA ... How to deduct Gambling Losses on your tax return - YouTube Guide to IRS Form W-2G Certain Gambling Winnings ... CAN GAMBLING WINNINGS BE EXEMPT FROM I.R.S. TAX? - YouTube GAMBLING IN LAS VEGAS & ACTUALLY WINNING! - YouTube Winning Roulette Strategy! (Huge WIN!) - YouTube Gambling Winnings and Losses - YouTube

Gambling tax Australia does not apply to winnings whether they were made at an online casino or a land based one. Casino operators are expected to pay license fees as well as taxes on gambling. These taxation laws differ from state to state. Some states base gambling taxes on turnover, while others base it on net profit or player loss. We are here looking into a guide if you really need to pay tax for gambling winnings in Australia. There are several ground rules regarding gambling in Australia, seeing the fondness of people into gambling practices. For obtaining more information, consider reading until the end. Australia and taxable winnings! There is no denial aspect that Australia is one of the most gambling nations ... In Australia, the winnings from gambling are not taxed. This is for three reasons. Gambling is not recognised as a profession in Australia. It is regarded as a hobby or recreational activity. The Australian government has come to an agreement that the gains from gambling activities are often the result of good luck, not hard work. Different countries have laws regulating the gambling industry; one aspect of such laws deal with tax-deductible from casino winnings. While some countries like the US deduct tax from casino winnings, some don't. In the US, all forms of gambling activities are taxed, whether legal or illegal. You must also have records of your winnings and losses, including proofs of your gambling activities ... Winnings from gambling are tax-free in most jurisdictions, including Australia. Given that the majority of gamblers lose – Australians lost close to A$24 billion in 2016-2017 – would there be any point to a gambling tax on your winnings? Listen to the story. So, are gambling winnings taxable? The ATO views money gained from gambling activities not as an income but as a result of good luck. In Australia, gambling winnings, including lottery winnings, are not subject to taxes. The only time gambling winnings become taxable is when you own a betting or a gambling business and you place a bet yourself. You can have the information online regarding tax on gambling winnings in Australia. There is no expense to pay for online Australian players either, notwithstanding a couple of online Australian casinos in operation. The main fees or charges a player may experience when playing an online gambling club could be fees to withdraw or store cash into global gambling club destinations or while converting the Australian dollar into the website’s favored money. Gambling tax in Australia doesn’t apply to winnings if they were made via an online casino or a land-based casino. Again, casino operators are obliged to pay license fees in addition to taxes on gambling although the exact numbers vary from state to state. For instance, some states base their gambling taxes on turnover while some base it on net profit or player loss. Yes, winnings gambling is legal in Australia the baccarat at least for Aussie players. While businesses in Gambling are not permitted to offer most forms of gambling online, it is legal for Australians themselves to play on betting sites hosted overseas. When it comes gambling the many foreign-operated online gaming sites that we recommend, they are regulated by the jurisdictions they are ... Gambling tax rates Do Australians have to pay tax on lottery winnings? Arguments sake, say i had a massive win, and won 1 Million Dollars or so, now am i entitled to take all australia money away taxable me obviously cheque australia back to ireland without paying tax of some kind, and the fact i aint an american citizen means i wouldnt have all the necessary details etc for them to put ...

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Tax Associates Tax Tips - Gambling Winnings - YouTube

https://turbotax.intuit.com Have you recently won big at the poker table? Before you go spending your winnings, you should watch this video and determine how... How to write off losses against any gambling winnings on your tax return. Las Vegas vlog March Madness Day 2Starting the day with Bellagio fountain show. The room at MGM grand had a view of The Mansion (high rollers villas). Specia... Any money that people win from gambling is taxable. In this video, I walk through how one of my tax clients accounted for his gambling winnings on the tax re... HOW TO FILE YOUR TAXES ON GAMBLING WINNINGS IN OKLAHOMA FROM REAL CPA on this episode of RED SCREEN NINJAS! What do you do after winning a jackpot on a slot ... Find out how gambling income and losses can affect your federal taxes. For more information, go to https://www.irs.gov/forms-pubs/about-form-w-2-g. #lot #tax... When the odds of something happening are really low, you say: “It’s like winning a lottery.” Yet, one man, over the course of 30 years, actually did win the ... CAN GAMBLING WINNINGS BE EXEMPT FROM I.R.S. TAX? Answer: Winnings are not tax-exempt. But only net winningsshould be taxed. Net winnings are wins minus losse... If you’re fortunate enough to hit a sizable jackpot in the lottery or while gambling, there are tax implications. Here’s a rundown of the basics. One of the smartest and more conservative methods for betting on Red, Black, High, Low, Even, Odd. Is this the way to beat roulette? Maybe. Will you win big?...

gambling winnings tax australia

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