I've noticed a lot of new people in here asking some obvious questions to those of us who have been around for a while. So to generate new and better discussion I want to answer some of these frequently asked questions.
1. Where can I find information about these companies I hope you haven't bought any of these names before you did research and before you even know where to start looking. First place you should go to is Google and type in " investor relations". If this is too much you can shorten it to " IR". It should be the first link in every case and if it's not then that's already a red flag. Read about the companies products, how they operate. Read their MD&A, read their financial statements from the last few years. Maybe look at product reviews or review the products yourselves. Watch interviews with the CEO. Find out what makes this company unique, operationally effective and worth buying for consumers. You should quickly figure out that APHA is NOT a cannabis company, but a consumer packaged good company. They own Cannabis, Alcohol, and Pharma businesses (plus hemp after the TLRY merger). Doing your DD should take time. Don't be in a rush to buy the stock because it's run up 100% in the past few weeks. If you look at the chart, 2 years ago these companies rocketed upwards to ATHs, you could have waited another year or so and bought lower. Are we taking off to the moon and never coming back? Probably not.
2. Where can I buy these companies? Are they on Robinhood? First, ditch Robinhood a get a broker that won't go under in the next few years. Pay a trading fee if you need to but just buy enough stock to make the tade worth it. Don't buy $20 of Apha on investorline or you're immediately taking a 50% haircut with a $9.95 trading fee. Second, you can buy these companies on most/all legit trading platforms. I won't name them all but all of the big Canadian banks self-directed platforms have them. I'm not American so I can't speak for them but I've heard good things about Fidelity and Vanguard. Oh, did you also mean what exchanges can I buy them on? Big Canadian names are on the major exchanges like TSX and Nasdaq. Smaller names are on the CSE and OTC markets. US names can't list on the big exchanges because your government decided cannabis was bad like 50 yrs ago so those are only on the OTC and CSE markets. MSOs is a fund on the NYSE (I think) that hold some sort of swaps on the US names but I personally just buy the names myself. Again, do you own DD, even if you're buying a fund.
3. This stock went up x% in the last y time, should I buy it or wait for a dip? This ties into point 1 above, so if you've done your DD you should know if the company is worth what it is priced at. The market does wacky shit all the time (see Gamestop, morgage crisis, great depression) so it'll go up and down, but generally follow along the trajectory of the company profits. If the profits increase by 5x in 10 years, the stock price will do the same. If you're asking for predictions in the short term consult a fortune teller, roll dice or find one of those pets that pick stocks.
4. What stocks should I buy? How do you feel about x company? See 1, then 3. I can't tell you what companies are good in the space better than your own research. Especially since you don't know what my plans are. Maybe a poster says buy "Apha" but they're only holding until the TLRY merger closes. They'll never tell you when they're selling so if it drops you'll be scratching your head. Do a bunch of research on the main players, then some smaller guys and figure out what you can stomach. Maybe a cannabis ETF is right for you or maybe 1 or 2 strong picks or maybe you like gambling with penny stocks. Just do your own DD. Popular names and good places to start are:
Canadian names: APHA/TLRY, CGC/WEED, ACB, CRON
US names: CURA, TRUL, CL, GTII
5. Should I buy leaps or warrents or calls or puts? Also what are derivatives? If you have to ask, no. I'm also not going to explain because I don't know either.
6. I bought Gamestop at all time highs and I sold and lost 90%, is cannabis good? No, kindly take your paper hands and go back to WSB. We don't want investors in this space who sell at the first 10% drop after an 100% run, or after a 50% drop from ATHs, or after a short report from some short selling parasites. We hold because this is a once in a lifetime opportunity of a product moving from the illicit market to the legal market. There is no need to build up demand, merely move the consumer from buying from their dealer to our dealer. This will take time, regulatory changes, perception changes and most importantly, your patience.
7. Any small companies you can reccomend? Being a small company in this space comes with distinct disadvantages. Price compression in Canada will kill small/medium sized growers since they can't achieve postive margins without scale. Add in some mould on even 1 harvest and the losses have destroyed your business. On the US side, regulations are weird and vary across different states. Califonia is a dumpster fire, Florida requires you to be vertically integrated, and other states have limited licences for retail and grows. Think about how hard it would be to get a foothold in Florida as a small business. Think about how valuable a licence is in limited licence states. Maybe your small player is looking for licences and gets NONE. That's devastating. Curaleaf misses 1 licence? Not great, but they have other applications in multiple states. If you're buying a small company or penny stock, know the risks and do extra DD. THERE HAVE BEEN COMPANIES THAT ARE FRAUDULENT IN THIS INDUSTRY. COMPANIES HAVE GONE BANKRUPT IN THIS INDUSTRY. Canntrust was legit but had fake walls with more plants behind them. Ignite was run by Dan Bilzerian. YOUR PICKS ARE NOT IMMUNE FROM GOING BANKRUPT. Let me repeat the most important point: THERE HAVE BEEN COMPANIES THAT ARE FRAUDULENT IN THIS SPACE.
8. I wanna buy because of US legalization! When will Cannabis be legalized in the US? Asking for a specific date is dumb and assuming that it's going to pass is dumber. Yes, Democrats control all 3 branches of government and yes, they are more cannabis friendly than Republicans and yes, some Republican states also recently legalized cannabis. THIS DOES NOT MEAN LEGALIZATION WILL PASS THIS YEAR, OR EVEN UNDER THIS CONGRESS OR PRESIDENT. Some Republicans in the house voted for cannabis regulation under Trump and some Democrats voted against it. We have no idea how the senate will vote and it doesn't take many votes to torpedo any legislation. If you know the US Cannabis space right now you'll know that descheduling and getting access to lower tax rates, access to capital and ability to cross state lines are some of the most important regulatory changes that need to happen. Look up the 208e280e tax code. Seriously do it. Full legalization is nice but also unlikely.
If I've missed any questions post them below. and I'll add them.
TL:DR: Do your own DD. Start here:
Canadian names: APHA/TLRY, CGC/WEED, ACB, CRON
US names: CURA, TRUL, CL, GTII
EDIT: Adding in some resources for those who want more. These are my own resources I use/used to get started. If you have resources to share please do so but don't self promote you ding dongs.
Resources New to Investing:
Most people think Warren Buffet is the GOAT but Peter Lynch is also a GOAT in his own right and a better speaker.
People also think you need to read through all of "The Intelligent Investor" before you can start investing but that's bs. Read "One up on Wallstreet" by Peter Lynch. It's like 300 pages shorter and more fun. Then read Intelligent Investor if you want but if you get 20 pages in and fall asleep or feel stupid then I told you so.
Martin Shkreli is an asshat but he knows the finance side of valuing companies. His finance lessons are awesome if you stand him for a few hours at a time. Follow along with your own companies.
Cannabis Resources:
The sidebar has great resources. Stateside cannabis investors(EDIT: Currently down) is awesome for the US side.
The OCS releases a quarterly report you should read for Canada. Hell, go to OCS.ca and see what products are available and prices. Go to the BC page, the quebec page etc...
Statscan has a cannabis hub. It's updated super rarely and it might be archived but it's good to look at to start.
Playboy going public: Porn, Gambling, and Cannabis
NEW INFO 5 Results from share redemption are posted. Less than .2% redeemed. Very bullish as investors are showing extreme confidence in the future of PLBY. https://finance.yahoo.com/news/playboy-mountain-crest-acquisition-corp-120000721.html NEW INFO 4 Definitive Agreement to purchase 100% of Lovers brand stores announced 2/1. https://www.streetinsider.com/Corporate+News/Playboy+%28MCAC%29+Confirms+Deal+to+Acquire+Lovers/17892359.html NEW INFO 3 I bought more on the dip today. 5081 total. Price rose AH to $12.38 (2.15%) NEW INFO 2 Here is the full webinar. https://icrinc.zoom.us/rec/play/9GWKdmOYumjWfZuufW3QXpe_FW_g--qeNbg6PnTjTMbnNTgLmCbWjeRFpQga1iPc-elpGap8dnDv8Zww.yD7DjUwuPmapeEdP?continueMode=true&tk=lEYc4F_FkKlgsmCIs6w0gtGHT2kbgVGbUju3cIRBSjk.DQIAAAAV8NK49xZWdldRM2xNSFNQcTBmcE00UzM3bXh3AAAAAAAAAAAAAAAAAAAAAAAAAAAA&uuid=WN_GKWqbHkeSyuWetJmLFkj4g&_x_zm_rtaid=kR45-uuqRE-L65AxLjpbQw.1611967079119.2c054e3d3f8d8e63339273d9175939ed&_x_zm_rhtaid=866 NEW INFO 1 Live merger webinar with PLBY and MCAC on Friday January 29, 2021 at 12:00 NOON EST link below https://mcacquisition.com/investor-relations/press-release-details/2021/Playboy-Enterprises-Inc.-and-Mountain-Crest-Acquisition-Corp-Participate-in-SPACInsider-ICR-Webinar-on-January-29th-at-12pm-ET/default.aspx Playboy going public: Porn, Gambling, and Cannabis !!!WARNING READING AHEAD!!! TL;DR at the end. It will take some time to sort through all the links and read/watch everything, but you should. In the next couple weeks, Mountain Crest Acquisition Corp is taking Playboy public. The existing ticker MCAC will become PLBY. Special purpose acquisition companies have taken private companies public in recent months with great success. I believe this will be no exception. Notably, Playboy is profitable and has skyrocketing revenue going into a transformational growth phase. Porn - First and foremost, let's talk about porn. I know what you guys are thinking. “Porno mags are dead. Why would I want to invest in something like that? I can get porn for free online.” Guess what? You are absolutely right. And that’s exactly why Playboy doesn’t do that anymore. That’s right, they eliminated their print division. And yet they somehow STILL make money from porn that people (see: boomers) pay for on their website through PlayboyTV, Playboy Plus, and iPlayboy. Here’s the thing: Playboy has international, multi-generational name recognition from porn. They have content available in 180 countries. It will be the only publicly traded adult entertainment (porn) company. But that is not where this company is going. It will help support them along the way. You can see every Playboy magazine through iPlayboy if you’re interested. NSFW links below: https://www.playboy.com/ https://www.playboytv.com/ https://www.playboyplus.com/ https://www.iplayboy.com/ Gambling - Some of you might recognize the Playboy brand from gambling trips to places like Las Vegas, Atlantic City, Cancun, London or Macau. They’ve been in the gambling biz for decades through their casinos, clubs, and licensed gaming products. They see the writing on the wall. COVID is accelerating the transition to digital, application based GAMBLING. That’s right. What we are doing on Robinhood with risky options is gambling, and the only reason regulators might give a shit anymore is because we are making too much money. There may be some restrictions put in place, but gambling from your phone on your couch is not going anywhere. More and more states are allowing things like Draftkings, poker, state ‘lottery” apps, hell - even political betting. Michigan and Virginia just ok’d gambling apps. They won’t be the last. This is all from your couch and any 18 year old with a cracked iphone can access it. Wouldn’t it be cool if Playboy was going to do something like that? They’re already working on it. As per CEO Ben Kohn who we will get to later, “...the company’s casino-style digital gaming products with Scientific Games and Microgaming continue to see significant global growth.” Honestly, I stopped researching Scientific Games' sports betting segment when I saw the word ‘omni-channel’. That told me all I needed to know about it’s success. “Our SG Sports™ platform is an enhanced, omni-channel solution for online, self-service and retail fixed odds sports betting – from soccer to tennis, basketball, football, baseball, hockey, motor sports, racing and more.” https://www.scientificgames.com/ https://www.microgaming.co.uk/ “This latter segment has become increasingly enticing for Playboy, and it said last week that it is considering new tie-ups that could include gaming operators like PointsBet and 888Holdings.” https://calvinayre.com/2020/10/05/business/playboys-gaming-ops-could-get-a-boost-from-spac-purchase/ As per their SEC filing: “Significant consumer engagement and spend with Playboy-branded gaming properties around the world, including with leading partners such as Microgaming, Scientific Games, and Caesar’s Entertainment, steers our investment in digital gaming, sports betting and other digital offerings to further support our commercial strategy to expand consumer spend with minimal marginal cost, and gain consumer data to inform go-to-market plans across categories.” https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tMDAA1 They are expanding into more areas of gaming/gambling, working with international players in the digital gaming/gambling arena, and a Playboy sportsbook is on the horizon. https://www.playboy.com/read/the-pleasure-of-playing-with-yourself-mobile-gaming-in-the-covid-era Cannabis - If you’ve ever read through a Playboy magazine, you know they’ve had a positive relationship with cannabis for many years. As of September 2020, Playboy has made a major shift into the cannabis space. Too good to be true you say? Check their website. Playboy currently sells a range of CBD products. This is a good sign. Federal hemp products, which these most likely are, can be mailed across state lines and most importantly for a company like Playboy, can operate through a traditional banking institution. CBD products are usually the first step towards the cannabis space for large companies. Playboy didn’t make these products themselves meaning they are working with a processor in the cannabis industry. Another good sign for future expansion. What else do they have for sale? Pipes, grinders, ashtrays, rolling trays, joint holders. Hmm. Ok. So it looks like they want to sell some shit. They probably don’t have an active interest in cannabis right? Think again: https://www.forbes.com/sites/javierhasse/2020/09/24/playboy-gets-serious-about-cannabis-law-reform-advocacy-with-new-partnership-grants/?sh=62f044a65cea “Taking yet another step into the cannabis space, Playboy will be announcing later on Thursday (September, 2020) that it is launching a cannabis law reform and advocacy campaign in partnership with National Organization for the Reform of Marijuana Laws (NORML), Last Prisoner Project, Marijuana Policy Project, the Veterans Cannabis Project, and the Eaze Momentum Program.” “According to information procured exclusively, the three-pronged campaign will focus on calling for federal legalization. The program also includes the creation of a mentorship plan, through which the Playboy Foundation will support entrepreneurs from groups that are underrepresented in the industry.” Remember that CEO Kohn from earlier? He wrote this recently: https://medium.com/naked-open-letters-from-playboy/congress-must-pass-the-more-act-c867c35239ae Seems like he really wants weed to be legal? Hmm wonder why? The writing's on the wall my friends. Playboy wants into the cannabis industry, they are making steps towards this end, and we have favorable conditions for legislative progress. Don’t think branding your own cannabis line is profitable or worthwhile? Tell me why these 41 celebrity millionaires and billionaires are dummies. I’ll wait. https://www.celebstoner.com/news/celebstoner-news/2019/07/12/top-celebrity-cannabis-brands/ Confirmation: I hear you. “This all seems pretty speculative. It would be wildly profitable if they pull this shift off. But how do we really know?” Watch this whole video: https://finance.yahoo.com/video/playboy-ceo-telling-story-female-154907068.html Man - this interview just gets my juices flowing. And highlights one of my favorite reasons for this play. They have so many different business avenues from which a catalyst could appear. I think paying attention, holding shares, and options on these staggered announcements over the next year is the way I am going to go about it. "There's definitely been a shift to direct-to-consumer," he (Kohn) said. "About 50 percent of our revenue today is direct-to-consumer, and that will continue to grow going forward.” “Kohn touted Playboy's portfolio of both digital and consumer products, with casino-style gaming, in particular, serving a crucial role under the company's new business model. Playboy also has its sights on the emerging cannabis market, from CBD products to marijuana products geared toward sexual health and pleasure.” "If THC does become legal in the United States, we have developed certain strains to enhance your sex life that we will launch," Kohn said. https://cheddar.com/media/playboy-goes-public-health-gaming-lifestyle-focus Oh? The CEO actually said it? Ok then. “We have developed certain strains…” They’re already working with growers on strains and genetics? Ok. There are several legal cannabis markets for those products right now, international and stateside. I expect Playboy licensed hemp and THC pre-rolls by EOY. Something like this: https://www.etsy.com/listing/842996758/10-playboy-pre-roll-tubes-limited?ga_order=most_relevant&ga_search_type=all&ga_view_type=gallery&ga_search_query=pre+roll+playboy&ref=sr_gallery-1-2&organic_search_click=1 Maintaining cannabis operations can be costly and a regulatory headache. Playboy’s licensing strategy allows them to pick successful, established partners and sidestep traditional barriers to entry. You know what I like about these new markets? They’re expanding. Worldwide. And they are going to be a bigger deal than they already are with or without Playboy. Who thinks weed and gambling are going away? Too many people like that stuff. These are easy markets. And Playboy is early enough to carve out their spot in each. Fuck it, read this too: https://www.forbes.com/sites/jimosman/2020/10/20/playboy-could-be-the-king-of-spacs-here-are-three-picks/?sh=2e13dcaa3e05 Numbers: You want numbers? I got numbers. As per the company’s most recent SEC filing: “For the year ended December 31, 2019, and the nine months ended September 30, 2020, Playboy’s historical consolidated revenue was $78.1 million and $101.3 million, respectively, historical consolidated net income (loss) was $(23.6) million and $(4.8) million, respectively, and Adjusted EBITDA was $13.1 million and $21.8 million, respectively.” “In the nine months ended September 30, 2020, Playboy’s Licensing segment contributed $44.2 million in revenue and $31.1 million in net income.” “In the ninth months ended September 30, 2020, Playboy’s Direct-to-Consumer segment contributed $40.2 million in revenue and net income of $0.1 million.” “In the nine months ended September 30, 2020, Playboy’s Digital Subscriptions and Content segment contributed $15.4 million in revenue and net income of $7.4 million.” They are profitable across all three of their current business segments. “Playboy’s return to the public markets presents a transformed, streamlined and high-growth business. The Company has over $400 million in cash flows contracted through 2029, sexual wellness products available for sale online and in over 10,000 major retail stores in the US, and a growing variety of clothing and branded lifestyle and digital gaming products.” https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tSHCF Growth: Playboy has massive growth in China and massive growth potential in India. “In China, where Playboy has spent more than 25 years building its business, our licensees have an enormous footprint of nearly 2,500 brick and mortar stores and 1,000 ecommerce stores selling high quality, Playboy-branded men’s casual wear, shoes/footwear, sleepwear, swimwear, formal suits, leather & non-leather goods, sweaters, active wear, and accessories. We have achieved significant growth in China licensing revenues over the past several years in partnership with strong licensees and high-quality manufacturers, and we are planning for increased growth through updates to our men’s fashion lines and expansion into adjacent categories in men’s skincare and grooming, sexual wellness, and women’s fashion, a category where recent launches have been well received.” The men’s market in China is about the same size as the entire population of the United States and European Union combined. Playboy is a leading brand in this market. They are expanding into the women’s market too. Did you know CBD toothpaste is huge in China? China loves CBD products and has hemp fields that dwarf those in the US. If Playboy expands their CBD line China it will be huge. Did you know the gambling money in Macau absolutely puts Las Vegas to shame? Technically, it's illegal on the mainland, but in reality, there is a lot of gambling going on in China. https://www.forbes.com/sites/javierhasse/2020/10/19/magic-johnson-and-uncle-buds-cbd-brand-enter-china-via-tmall-partnership/?sh=271776ca411e “In India, Playboy today has a presence through select apparel licensees and hospitality establishments. Consumer research suggests significant growth opportunities in the territory with Playboy’s brand and categories of focus.” “Playboy Enterprises has announced the expansion of its global consumer products business into India as part of a partnership with Jay Jay Iconic Brands, a leading fashion and lifestyle Company in India.” “The Indian market today is dominated by consumers under the age of 35, who represent more than 65 percent of the country’s total population and are driving India’s significant online shopping growth. The Playboy brand’s core values of playfulness and exploration resonate strongly with the expressed desires of today’s younger millennial consumers. For us, Playboy was the perfect fit.” “The Playboy international portfolio has been flourishing for more than 25 years in several South Asian markets such as China and Japan. In particular, it has strategically targeted the millennial and gen-Z audiences across categories such as apparel, footwear, home textiles, eyewear and watches.” https://www.licenseglobal.com/industry-news/playboy-expands-global-footprint-india It looks like they gave COVID the heisman in terms of net damage sustained: “Although Playboy has not suffered any material adverse consequences to date from the COVID-19 pandemic, the business has been impacted both negatively and positively. The remote working and stay-at-home orders resulted in the closure of the London Playboy Club and retail stores of Playboy’s licensees, decreasing licensing revenues in the second quarter, as well as causing supply chain disruption and less efficient product development thereby slowing the launch of new products. However, these negative impacts were offset by an increase in Yandy’s direct-to-consumer sales, which have benefited in part from overall increases in online retail sales so far during the pandemic.” Looks like the positives are long term (Yandy acquisition) and the negatives are temporary (stay-at-home orders). https://www.sec.gov/Archives/edgadata/1803914/000110465921006093/tm213766-1_defa14a.htm This speaks to their ability to maintain a financially solvent company throughout the transition phase to the aforementioned areas. They’d say some fancy shit like “expanded business model to encompass four key revenue streams: Sexual Wellness, Style & Apparel, Gaming & Lifestyle, and Beauty & Grooming.” I hear “we’re just biding our time with these trinkets until those dollar dollar bill y’all markets are fully up and running.” But the truth is these existing revenue streams are profitable, scalable, and rapidly expanding Playboy’s e-commerce segment around the world. "Even in the face of COVID this year, we've been able to grow EBITDA over 100 percent and revenue over 68 percent, and I expect that to accelerate going into 2021," he said. “Playboy is accelerating its growth in company-owned and branded consumer products in attractive and expanding markets in which it has a proven history of brand affinity and consumer spend.” Also in the SEC filing, the Time Frame: “As we detailed in the definitive proxy statement, the SPAC stockholder meeting to vote on the transaction has been set for February 9th, and, subject to stockholder approval and satisfaction of the other closing conditions, we expect to complete the merger and begin trading on NASDAQ under ticker PLBY shortly thereafter,” concluded Kohn. The Players: Suhail “The Whale” Rizvi (HMFIC), Ben “The Bridge” Kohn (CEO), “lil” Suying Liu & “Big” Dong Liu (Young-gun China gang). I encourage you to look these folks up. The real OG here is Suhail Rizvi. He’s from India originally and Chairman of the Board for the new PLBY company. He was an early investor in Twitter, Square, Facebook and others. His firm, Rizvi Traverse, currently invests in Instacart, Pinterest, Snapchat, Playboy, and SpaceX. Maybe you’ve heard of them. “Rizvi, who owns a sprawling three-home compound in Greenwich, Connecticut, and a 1.65-acre estate in Palm Beach, Florida, near Bill Gates and Michael Bloomberg, moved to Iowa Falls when he was five. His father was a professor of psychology at Iowa. Along with his older brother Ashraf, a hedge fund manager, Rizvi graduated from Wharton business school.” “Suhail Rizvi: the 47-year-old 'unsocial' social media baron: When Twitter goes public in the coming weeks (2013), one of the biggest winners will be a 47-year-old financier who guards his secrecy so zealously that he employs a person to take down his Wikipedia entry and scrub his photos from the internet. In IPO, Twitter seeks to be 'anti-FB'” “Prince Alwaleed bin Talal of Saudi Arabia looks like a big Twitter winner. So do the moneyed clients of Jamie Dimon. But as you’ve-got-to-be-joking wealth washed over Twitter on Thursday — a company that didn’t exist eight years ago was worth $31.7 billion after its first day on the stock market — the non-boldface name of the moment is Suhail R. Rizvi. Mr. Rizvi, 47, runs a private investment company that is the largest outside investor in Twitter with a 15.6 percent stake worth $3.8 billion at the end of trading on Thursday (November, 2013). Using a web of connections in the tech industry and in finance, as well as a hearty dose of good timing, he brought many prominent names in at the ground floor, including the Saudi prince and some of JPMorgan’s wealthiest clients.” https://www.nytimes.com/2013/11/08/technology/at-twitter-working-behind-the-scenes-toward-a-billion-dollar-payday.html Y’all like that Arab money? How about a dude that can call up Saudi Princes and convince them to spend? Funniest shit about I read about him: “Rizvi was able to buy only $100 million in Facebook shortly before its IPO, thus limiting his returns, according to people with knowledge of the matter.” Poor guy :( He should be fine with the 16 million PLBY shares he's going to have though :) Shuhail also has experience in the entertainment industry. He’s invested in companies like SESAC, ICM, and Summit Entertainment. He’s got Hollywood connections to blast this stuff post-merger. And he’s at least partially responsible for that whole Twilight thing. I’m team Edward btw. I really like what Suhail has done so far. He’s lurked in the shadows while Kohn is consolidating the company, trimming the fat, making Playboy profitable, and aiming the ship at modern growing markets. https://www.reuters.com/article/us-twitter-ipo-rizvi-insight/insight-little-known-hollywood-investor-poised-to-score-with-twitter-ipo-idUSBRE9920VW20131003 Ben “The Bridge” Kohn is an interesting guy. He’s the connection between Rizvi Traverse and Playboy. He’s both CEO of Playboy and was previously Managing Partner at Rizvi Traverse. Ben seems to be the voice of the Playboy-Rizvi partnership, which makes sense with Suhail’s privacy concerns. Kohn said this: “Today is a very big day for all of us at Playboy and for all our partners globally. I stepped into the CEO role at Playboy in 2017 because I saw the biggest opportunity of my career. Playboy is a brand and platform that could not be replicated today. It has massive global reach, with more than $3B of global consumer spend and products sold in over 180 countries. Our mission – to create a culture where all people can pursue pleasure – is rooted in our 67-year history and creates a clear focus for our business and role we play in people’s lives, providing them with the products, services and experiences that create a lifestyle of pleasure. We are taking this step into the public markets because the committed capital will enable us to accelerate our product development and go-to-market strategies and to more rapidly build our direct to consumer capabilities,” said Ben Kohn, CEO of Playboy. “Playboy today is a highly profitable commerce business with a total addressable market projected in the trillions of dollars,” Mr. Kohn continued, “We are actively selling into the Sexual Wellness consumer category, projected to be approximately $400 billion in size by 2024, where our recently launched intimacy products have rolled out to more than 10,000 stores at major US retailers in the United States. Combined with our owned & operated ecommerce Sexual Wellness initiatives, the category will contribute more than 40% of our revenue this year. In our Apparel and Beauty categories, our collaborations with high-end fashion brands including Missguided and PacSun are projected to achieve over $50M in retail sales across the US and UK this year, our leading men’s apparel lines in China expanded to nearly 2500 brick and mortar stores and almost 1000 digital stores, and our new men’s and women’s fragrance line recently launched in Europe. In Gaming, our casino-style digital gaming products with Scientific Games and Microgaming continue to see significant global growth. Our product strategy is informed by years of consumer data as we actively expand from a purely licensing model into owning and operating key high-growth product lines focused on driving profitability and consumer lifetime value. We are thrilled about the future of Playboy. Our foundation has been set to drive further growth and margin, and with the committed capital from this transaction and our more than $180M in NOLs, we will take advantage of the opportunity in front of us, building to our goal of $100M of adjusted EBITDA in 2025.” https://www.businesswire.com/news/home/20201001005404/en/Playboy-to-Become-a-Public-Company Also, according to their Form 4s, “Big” Dong Liu and “lil” Suying Liu just loaded up with shares last week. These guys are brothers and seem like the Chinese market connection. They are only 32 & 35 years old. I don’t even know what that means, but it's provocative. https://www.secform4.com/insider-trading/1832415.htm https://finance.yahoo.com/news/mountain-crest-acquisition-corp-ii-002600994.html Y’all like that China money? “Mr. Liu has been the Chief Financial Officer of Dongguan Zhishang Photoelectric Technology Co., Ltd., a regional designer, manufacturer and distributor of LED lights serving commercial customers throughout Southern China since November 2016, at which time he led a syndicate of investments into the firm. Mr. Liu has since overseen the financials of Dongguan Zhishang as well as provided strategic guidance to its board of directors, advising on operational efficiency and cash flow performance. From March 2010 to October 2016, Mr. Liu was the Head of Finance at Feidiao Electrical Group Co., Ltd., a leading Chinese manufacturer of electrical outlets headquartered in Shanghai and with businesses in the greater China region as well as Europe.” Dr. Suying Liu, Chairman and Chief Executive Officer of Mountain Crest Acquisition Corp., commented, “Playboy is a unique and compelling investment opportunity, with one of the world’s largest and most recognized brands, its proven consumer affinity and spend, and its enormous future growth potential in its four product segments and new and existing geographic regions. I am thrilled to be partnering with Ben and his exceptional team to bring his vision to fruition.” https://www.businesswire.com/news/home/20201001005404/en/Playboy-to-Become-a-Public-Company These guys are good. They have a proven track record of success across multiple industries. Connections and money run deep with all of these guys. I don’t think they’re in the game to lose. I was going to write a couple more paragraphs about why you should have a look at this but really the best thing you can do is read this SEC filing from a couple days ago. It explains the situation in far better detail. Specifically, look to page 137 and read through their strategy. Also, look at their ownership percentages and compensation plans including the stock options and their prices. The financials look great, revenue is up 90% Q3, and it looks like a bright future. https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tSHCF I’m hesitant to attach this because his position seems short term, but I’m going to with a warning because he does hit on some good points (two are below his link) and he’s got a sizable position in this thing (500k+ on margin, I think). I don’t know this guy but he did look at the same publicly available info and make roughly the same prediction, albeit without the in depth gambling or cannabis mention. You can also search reddit for ‘MCAC’ and very few relevant results come up and none of them even come close to really looking at this thing. https://docs.google.com/document/d/1gOvAd6lebs452hFlWWbxVjQ3VMsjGBkbJeXRwDwIJfM/edit?usp=sharing “Also, before you people start making claims that Playboy is a “boomer” company, STOP RIGHT THERE. This is not a good argument. Simply put. The only thing that matters is Playboy’s name recognition, not their archaic business model which doesn’t even exist anymore as they have completely repurposed their business.” “Imagine not buying $MCAC at a 400M valuation lol. Streetwear department is worth 1B alone imo.” Considering the ridiculous Chinese growth as a lifestyle brand, he’s not wrong. Current Cultural Significance and Meme Value: A year ago I wouldn’t have included this section but the events from the last several weeks (even going back to tsla) have proven that a company’s ability to meme and/or gain social network popularity can have an effect. Tik-tok, Snapchat, Twitch, Reddit, Youtube, Facebook, Twitter. They all have Playboy stuff on them. Kids in middle and highschool know what Playboy is but will likely never see or touch one of the magazines in person. They’ll have a Playboy hoodie though. Crazy huh? A lot like GME, PLBY would hugely benefit from meme-value stock interest to drive engagement towards their new business model while also building strategic coffers. This interest may not directly and/or significantly move the stock price but can generate significant interest from larger players who will. Bull Case: The year is 2025. Playboy is now the world leader pleasure brand. They began by offering Playboy licensed gaming products, including gambling products, direct to consumers through existing names. By 2022, demand has skyrocketed and Playboy has designed and released their own gambling platforms. In 2025, they are also a leading cannabis brand in the United States and Canada with proprietary strains and products geared towards sexual wellness. Cannabis was legalized in the US in 2023 when President Biden got glaucoma but had success with cannabis treatment. He personally pushes for cannabis legalization as he steps out of office after his first term. Playboy has also grown their brand in China and India to multi-billion per year markets. The stock goes up from 11ish to 100ish and everyone makes big gains buying somewhere along the way. Bear Case: The United States does a complete 180 on marijuana and gambling. President Biden overdoses on marijuana in the Lincoln bedroom when his FDs go tits up and he loses a ton of money in his sports book app after the Fighting Blue Hens narrowly lose the National Championship to Bama. Playboy is unable to expand their cannabis and gambling brands but still does well with their worldwide lifestyle brand. They gain and lose some interest in China and India but the markets are too large to ignore them completely. The stock goes up from 11ish to 13ish and everyone makes 15-20% gains. TL;DR: Successful technology/e-commerce investment firm took over Playboy to turn it into a porn, online gambling/gaming, sports book, cannabis company, worldwide lifestyle brand that promotes sexual wellness, vetern access, women-ownership, minority-ownership, and “pleasure for all”. Does a successful online team reinventing an antiquated physical copy giant sound familiar? No options yet, shares only for now. $11.38 per share at time of writing. My guess? $20 by the end of February. $50 by EOY. This is not financial advice. I am not qualified to give financial advice. I’m just sayin’ I would personally use a Playboy sports book app while smoking a Playboy strain specific joint and it would be cool if they did that. Do your own research. You’d probably want to start here: WARNING - POTENTIALLY NSFW - SEXY MODELS AHEAD - no actual nudity though https://s26.q4cdn.com/895475556/files/doc_presentations/Playboy-Craig-Hallum-Conference-Investor-Presentation-11_17_20-compressed.pdf Or here: https://www.mcacquisition.com/investor-relations/default.aspx Jimmy Chill: “Get into any SPAC at $10 or $11 and you are going to make money.” STL;DR: Buy MCAC. MCAC > PLBY couple weeks. Rocketship. Moon. Position: 5000 shares. I will buy short, medium, and long-dated calls once available.
Lost in the Sauce: Fox News launders unverified Russian intel on Trump's behalf
Welcome to Lost in the Sauce, keeping you caught up on political and legal news that often gets buried in distractions and theater… or a global health crisis. Housekeeping:
HOW TO SUPPORT: I know we are all facing unprecedented financial hardships right now. If you are in the position to support my work, I have a patreon, venmo, and a paypal set up. No pressure though, I will keep posting these pieces publicly no matter what - paywalls suck.
NOTIFICATIONS: You can signup to receive notifications when these posts are done.
Trump’s Russian laundromat
The Trump administration has been using conservative outlets like Fox News to launder unverified Russian intelligence intended to denigrate Democratic officials and candidates. In the latest instance last week, DNI John Ratcliffe declassified handwritten notes from 2016 by then-CIA Director John Brennan stating that he had briefed President Obama on Russian activities, including a reference to Hillary Clinton’s campaign attempting to “vilify Donald Trump.” Fox News was the first to publish the notes. Brennan accused Ratcliffe of selectively declassifying documents in order to "advance the political interests" of Trump ahead of the election:
"These were my notes from the 2016 period when I briefed President Obama and the rest of the national security council team about what the Russians were up to and I was giving examples of the type of access that the US intelligence community had to Russian information and what the Russians were talking about and alleging," he added.
Ratcliffe has approved the release of even more information meant to assist Trump, including “a large binder full of documents” he gave to the Justice Department. "At my direction, the Office of the Director of National Intelligence has provided almost 1,000 pages of materials to the Department of Justice in response to Mr. Durham's document request,” Ratcliffe confirmed. There is nothing illegal about the actions allegedly taken by the Clinton campaign, as detailed in the released documents. As Lawfare explains, the declassified memo originated from the CIA’s Counterintelligence Mission Center:
Importantly, it is not a crimes report. Rather, as the name suggests, the purpose of a CIOL is to pass operational leads to the FBI for counterintelligence purposes. In this case, the CIA had information indicating that a hostile foreign intelligence service may have spied on a U.S. presidential campaign. Even if the intelligence was questionable, it still presented a significant counterintelligence risk—which is why, as Ratcliffe’s letter says, it was reported to the FBI...
Meanwhile, Trump tweeted that he has authorized the release of every document related to the “Russian Hoax” and the “Hillary Clinton Email Scandal.Tweet. He then added:
All Russia Hoax Scandal information was Declassified by me long ago. Unfortunately for our Country, people have acted very slowly, especially since it is perhaps the biggest political crime in the history of our Country. Act!!!
In an interview on Fox News a couple of days later, Trump expressed displeasure that Secretary of State Mike Pompeo had not yet released the emails deleted from Clinton's private server: "She said she had 33,000 e-mails...They're in the State Department, but Mike Pompeo has been unable to get them out, which is very sad actually. I'm -- I'm not happy about him for that, that reason. He was unable to get -- I don't know why. You're running the State Department and you get them out.” (clip)
The very next day, Pompeo appeared on Fox News to assert: "We've got the emails, we're getting them out." Asked if they would be released before the election, he said, "I certainly think there'll be more to see before the election." (clip)
Buzzfeed News took Trump’s tweets to a judge to gain the release of the entire unredacted Mueller report before Election Day. US District Judge Reggie Walton directed the Justice Department to “confer with the White House” and report back to the court the “official position regarding the declassification and release to the public of information related to the Russia investigation.”
Durham probe
For the second straight week, the media is reporting the Durham investigation will not produce a report prior to the election. Last week, AG Bill Barr reportedly told top Republicans that they should not expect any further indictments or a comprehensive report before Nov. 3. Trump publicly attacked Barr for what he sees as the slow progress of the Durham probe. “I think it’s a terrible thing. And I’ll say it to [Barr’s] face...See, this is what I mean with the Republicans. They don’t play the tough game,” Trump told Rush Limbaugh on Friday.
Earlier in the week, Trump sent an all-caps tweet calling for the arrests of his political rivals: “DO SOMETHING ABOUT THIS, THE BIGGEST OF ALL POLITICAL SCANDALS (IN HISTORY)!!! BIDEN, OBAMA AND CROOKED HILLARY LED THIS TREASONOUS PLOT!!! BIDEN SHOULDN’T BE ALLOWED TO RUN - GOT CAUGHT!!!” Trump tweeted.
Court cases
A three-judge Appellate Court panel ruled that Manhattan D.A. Vance can enforce a subpoena seeking President Trump’s personal and corporate tax returns. The panel was made up of two Clinton-appointees and an Obama-appointee. Trump’s attorneys are expected to appeal to the Supreme Court.
They concluded that the president did not show that Mr. Vance had been driven by politics. “None of the president’s allegations, taken together or separately, are sufficient to raise a plausible inference that the subpoena was issued out of malice or an intent to harass,” they wrote.
Prominent Trump and GOP fundraiser Elliott Broidy was charged with conspiring to violate the Foreign Agents Registration Act. Prosecutors say Broidy accepted $6 million from a foreign client to lobby administration officials to end a federal investigation related to the looting of the 1Malaysia Development Berhad fund, known as 1MDB. The court filing also accuses Mr. Broidy of seeking the extradition of a Chinese citizen from the United States.
Note that Barr received a waiver to participate in the investigation of 1MDB despite his former law firm’s involvement in the case. Steve Bannon was arrested earlier this year on a yacht belonging to one of the individuals tied up in the case, as well.
Trump appeals order to continue Census count to the Supreme Court. A three-judge panel of the 9th Circuit upheld a lower court order allowing the 2020 count to continue through October. The administration has asked SCOTUS to put an immediate hold on the injunction while it appeals. The Supreme Court punted a decision on access to abortion, keeping open the option of revisiting the case at a later date. The Trump administration asked the high court to require women seeking the drugs for medication abortions to visit a doctor’s office or clinic. The order was unsigned but Justices Alito and Thomas declared their approval of the administration’s request in a separate filing.
“While COVID-19 has provided the ground for restrictions on First Amendment rights, the District Court saw the pandemic as a ground for expanding the abortion right recognized in Roe v. Wade,” wrote Alito and Thomas.
Other court cases to note:
Lawyers for E. Jean Carroll asked a judge to block the DOJ from intervening to represent Trump in her defamation lawsuit against the president. Her lawyers say the law in question, the Federal Tort Claims Act, does not apply to Trump — or to any other president. They also said that Trump, in any case, was not acting in his official role when he denied Carroll’s claims. Oral arguments in the case are scheduled for Oct. 21.
The DOJ admitted to “inadvertently” producing altered versions of notes from former FBI officials McCabe and Strzok that were turned over to Michael Flynn’s defense team and filed to the court as potentially exculpatory evidence. As Marcy Wheeler explains, this explanation doesn’t match all the evidence.
Court-appointed adviser John Gleeson, a retired judge, urged District Judge Emmet Sullivan to take the president’s comments about the case into account when making a decision about whether or not to grant the Flynn-DOJ joint effort to permanently end the prosecution. Gleeson notes that Trump’s tweets provide evidence of political pressure to drop the case against Flynn: Trump successfully pressured the DOJ to “create a new set of rules that only apply to Michael Flynn and will never apply to anyone else.”
A federal judge in California has ordered that Twitter reveal the identity of an anonymous user who allegedly fabricated an FBI document to spread a conspiracy theory about the killing of Seth Rich, the Democratic National Committee staffer who died in 2016.
Administration
Voice of America: Five suspended officials at the U.S. Agency for Global Media (USAGM) are suing the agency, its new CEO and several of his most senior aides, alleging they are breaking the law — routinely — in pursuing a pro-Trump agenda for the Voice of America news service.
David Kligerman, who has been suspended from his position as general counsel of the agency by Pack, told NPR that the case was necessary to get the courts to enforce the firewall. (He is not a party to the case, though he is cited in it as a whistleblower harmed by Pack's actions.) Kligerman and the five plaintiffs jointly filed a whistleblower complaint late last month, alleging Pack sought to oust them under a pretext of "security concerns" because they challenged his intrusion into journalistic decision-making.
Reminder: CEO Michael Pack, an ally of Steve Bannon, started his tenure by firing the heads of four organizations under USAGM. He then refused to renew the U.S. visas of more than 70 foreign journalists who work for VOA, vaguely accusing some of them of being spies. Pack tried to fire the board of the Open Technology Fund, an organization that supports Internet freedom initiatives, but a court blocked the terminations. Nevertheless, Pack succeeded in cutting off a large portion of its funding, forcing the non-profit to suspend over 80% of its projects. Finally, Pack ordered two political operatives he installed as his aides to investigate Steve Herman, the VOA White House bureau chief who reported on Pence’s disregard for masks, for anti-Trump bias.
Bureau of Land Management: William Perry Pendley, head of the Bureau of Land Management (BLM), is refusing to leave his position after a judge ruled he is illegally serving as chief. “I have the support of the president,” he told the Wyoming Powell Tribune. “I have the support of the secretary of the interior and my job is to get out and get things done to accomplish what the president wants to do.” CIA appointment: Bert Mizusawa, a retired major general who served as an advisor to Trump’s 2016 campaign, was quietly installed in a senior advisory role at the CIA earlier this year. The move is spurring discussion among some former agency officials, who say the arrangement is highly unusual.
“An outsider with no internal sponsorship?” said one of the former officials. “That never happens.” ...Trump allies outside the administration have signaled frustration with Haspel in recent weeks, accusing the CIA chief of blocking the declassification of documents relevant to the investigation into his 2016 campaign’s ties to Russia that they view as exculpatory.
Trump has appointed Justin Peterson to the Financial Oversight and Management Board for Puerto Rico, sparking conflict of interest allegations. Peterson previously represented hedge fund bondholders pushing the board to pay them billions of dollars. Rep. Nydia Valazquez (D-NY): “As a member of the Board, Peterson would have a critical say in how to restructure the Island’s debt, but his coziness with bondholders is a serious red flag and a clear conflict of interest.” A hate group employee is now leading diversity & inclusion efforts in the Department of Education. Weeks ago, Sarah Parshall Perry was defending J.K. Rowling on the Family Research Council podcasts. Now, Betsy Devos has bought Perry aboard to oversee inclusivity within the DOE.
Trump money
NYT revealed that Trump “engineered a sudden windfall” in 2016, moving over $21 million from a Vegas hotel Trump owns with billionaire Phil Ruffin, through other Trump companies, to his campaign.
“If Trump took out a bank loan in the LLC’s name for the purpose of financing his election, then the Trump campaign violated its legal reporting requirements by failing to disclose the loan, and failing to disclose that Trump’s Vegas property was used as collateral.” The Times also reported that the LLC in question–Trump Las Vegas Sales and Marketing–claimed a deduction on the payment made to Trump in 2016. If the $30 million loan was, in fact, used to finance the president’s then-money-starved campaign, the potential criminality would be amplified.
In an apparent quid pro quo, Ruffin asked Trump for a favor after his inauguration: revive the high speed train project to bring gamblers from California to the Vegas strip. The Obama administration considered but turned down a $5.5 billion loan for the train. This past March, the Trump administration approved the project.
Among the train’s chief beneficiaries will be Mr. Ruffin and the other grandees of gambling who became a vital font of political money for Mr. Trump when he needed it most. And, of course, Donald Trump himself.
Another NYT report showed that Trump “reinvented” the swamp after he took office, setting up an extensive quid pro quo network with private businesses and special interests. Over 200 companies, special-interest groups, and foreign governments patronized Trump’s properties while reaping benefits from him and his administration.
Just 60 customers with interests at stake before the administration brought the Trump Organization nearly $12 million during the first two years of Mr. Trump’s presidency, The Times found. Almost all saw their interests advanced, in some fashion, by the president or his government. ...During Mr. Trump’s campaign and the months leading up to his inauguration, the in-house magazine at his Mar-a-Lago club in Florida announced nearly 100 new members, a number of whom had significant business interests in Washington. The tax records show that in 2016 alone, the club’s initiation fees delivered close to $6 million in revenue. ...More than 70 advocacy groups, businesses and foreign governments threw events at the properties that had previously been held elsewhere, or created new events that drove dollars into Mr. Trump’s business. Donors also paid for the privilege of giving money to his campaign and super PAC. Mr. Trump attended 34 fund-raisers held at his hotels and resorts, events that brought them another $3 million in revenue. Sometimes, he lined up his donors to ask what they needed from the government.
Trump claimed a $21 million tax break for leaving the woodland surrounding his New York mansion undeveloped, a figure inflated by what appears to be a fraudulent appraisal. The value of the 212-acre estate was based on the premise that Trump could build and sell 24 manions on the land. However, building anything on that property was impossible, due largely to objections by neighbors. Trump was paid by the government not to build mansions that he never could have built, in other words.
In addition to the conservation easement tax break, Trump in 2014 also classified Seven Springs as an investment property, rather than a personal residence, and wrote off $2.2 million in property taxes as a business expense, the New York Times recently reported. Trump’s family members have described the home as a family retreat in the past, and the Trump Organization’s website still characterizes Seven Springs that way. “Today, Seven Springs is used as a retreat for the Trump family,” the website says.
Trump’s adult children have brough at least $238,000 of taxpayer money into the Trump Organization by traveling to their family properties with Secret Service. “The president’s company billed the U.S. government hundreds, or thousands, of dollars for rooms agents used on each trip, as the agency sometimes booked multiple rooms or a multiroom rental cottage on the property,” WaPo reports.
The records also show about $29,000 in federal payments to Trump properties that related to travel by Donald Trump Jr. Trump Jr. stayed repeatedly at the Trump hotel in Washington — just blocks from his father’s residence at the White House... In the records obtained by The Post, travel by Ivanka Trump and her family accounted for more than $42,000 in federal payments to Trump properties. Much of that total came this spring, after Ivanka Trump had urged other Americans not to travel.
US taxpayers picked up the tab for billionaire US ambassador's stay at Donald Trump’s Scottish resort. The billionaire US ambassador to the UK, Woody Johnson, ran up a bill to US taxpayers totalling more than £1,000 in a single day while staying at Donald Trump’s flagship Scottish hotel and golf resort.
American Oversight, a non-partisan, non-profit ethics watchdog: “That Donald Trump uses his office and American tax dollars to prop up his failing businesses is widely known and shameful. That the US ambassador to the UK would use taxpayer money to play golf is simply embarrassing.”
Immigration
Border wall: The Ninth Circuit on Friday ruled that President Donald Trump’s allocation of military funds for construction of his border wall was illegal. In a 2-1 ruling, the three-judge panel lifted a stay on a lower court order, thus putting an immediate stop to all border wall construction. The one dissenting judge was Daniel Collins, a Trump appointee. Family separation 1.0: Former AG Jeff Sessions and Deputy AG Rod Rosenstein led the push to prosecute all undocumented immigrants even if it meant separating children from their parents.
[Rosenstein told] the five prosecutors that it did not matter how young the children were. He said that government lawyers should not have refused to prosecute two cases simply because the children were barely more than infants.
Family separation 2.0: Customs and Border Protection touted agents’ “rescue” of a Honduran woman who just gave birth. What border officials didn’t mention was that, hours after their purported rescue, they separated the Honduran immigrant from her newborn and detained her pending possible removal.
“They told her she was going to be sent back to Mexico without her baby,” said Amy Maldonado, who is legally representing the mother.
Detention: Inside the US Marshals’ Secretive, Deadly Detention Empire: Due in large part to Trump’s aggressive immigration policies, the Marshals population is approaching historic highs. About two-thirds of all prosecutions between October 2018 and April 2019 were related to immigration crimes. Deportation: ICE officials have started to implement a policy that allows officers to arrest and rapidly deport undocumented immigrants who have been in the US for less than two years - all without a hearing in front of a judge.
Further reading
Eric Trump has canceled a Michigan based campaign event scheduled to take place Tuesday at Huron Valley Guns in New Hudson after one of its former employees was linked to the domestic terror plot against the state's governor. The Justice Department has suspended all diversity and inclusion training in every division, including for immigration judges that regularly hear cases of persecution based on religion, LGBT status, and gender. Wisconsin Judge Upholds Statewide Mask Mandate Michigan High Court Strikes Down Governor’s Covid Emergency Orders A U.S. government watchdog agency is faulting the Trump administration’s handling of a COVID-19 relief effort that awarded energy companies breaks on payments for oil and gas extracted from public lands in Western states in more than 500 cases2 The California Secretary of State and Department of Justice have sent a cease and desist order to the California Republican Party to remove unofficial ballot drop boxes placed in at least three counties. In a ruling issued late Monday night, a federal appeals court upheld Gov. Greg Abbott’s order that limited counties to one mail-in ballot drop-off location. All three judges on the 5th Circuit panel were appointed by Trump.
Florida does not support an online casino platform, leaving all Florida gamblers to look to licensed offshore online casinos for legal casino entertainment. It is not illegal by state or federal law to participate in online casino gambling from an Internet destination that is based outside of the United States and which is licensed, regulated, and legally approved. Thus, FL players as young as ... No, sports betting in Florida is not legal at this time. Sports betting in Florida . Sports betting does not sound close to becoming a reality anytime soon, as there are a number of factors working against it. Gambling is legal at the state’s tribal casinos and pari-mutuel facilities. The Seminole Tribe of South Florida has operated several brick-and-mortar casinos, paying a flat fee to the ... Online gambling has been around Florida for quite some time now, and people have been pushing for other means of online gambling, such as sports. Both horse and greyhound racing is, however, regulated by an official body called Division of Pari-Mutuel Wagering. This division also oversees numerous other types of entertainment options such as jai alai, poker, and many more. Online Betting and ... If you want to know about the legalities of online gambling in Florida, you have come to the right place. Mobile NFL Betting in Florida . There are many ways and different vessels for Florida residents to use when making legal football bets. One of the fastest growing ways to bet on football has been mobile betting. The convenience is what drives so many new users to mobile betting as they can ... Because Florida is not staunchly anti-gambling, state-based online gambling does have some hope of emerging here in some capacity, though that will take time. Right now, the thrust of proposed legislation regarding gambling in Florida has to do with adding craps and roulette to the Seminole casino options and legalizing sports betting. Online iGaming in FL is currently at the bottom of the list. Florida’s gambling laws are regulated and all legal gambling includes casino gaming, tribal gambling, casino boats, horse racing, dog racing, Bingo, the state lottery, and charitable gambling. The casino boats are interesting because they allow bettors to board luxury boats that travel offshore where gambling is technically not illegal. Gambling takes many forms, ranging from playing the ponies at Gulfstream Park to playing some poker with friends at home. Whether visiting the Seminole Hard Rock Casino or putting $100 on the Seminole football team, such activities are considered gambling under Florida law. Online Gambling and Florida Law Is Online Gambling Legal in Florida? No written laws pertain specifically to online gambling in Florida. There’s not a clear answer to this question, but our best guess is that online gambling is illegal in Florida. Section 849.08 of the Florida Statutes says this about gambling: “Whoever plays or engages in any game at cards, keno, roulette, faro or other ... After a failed legal sports betting attempt in 2020, Florida State Senator Jeff Brandes has introduced a new bill that could give Florida legal sports betting in 2021. The main motivation for Florida to legalize sports betting is tax revenue. The proposed bill would net the state 15% of all revenue and charge each sportsbook a $100,000 licensing fee. Challenges Facing Florida Sports Betting ... When it comes to gambling, be it at a land-based casino or online, it helps to know the gambling laws of the US state you are in because they all have different stances when it comes to the issue. What may be considered legal in one state may not necessarily be legal in another, so it pays to know more about these things lest you want to wake up one day being charged with illegal gambling with ...
Inside the brain of a gambling addict - BBC News - YouTube
Celler Legal, P.A. focuses on all areas of the employment context from discrimination, harassment, and retaliation under the Florida Civil Rights Act, Title VII, the Family Medical Leave Act, and ... Giveaway: https://goo.gl/jCHyGk Skin Silo Website (Use Code" NICKBUNYUN "): https://goo.gl/JMgQpz •Subscribe! https://goo.gl/Ql12r7 •TwitchTV http://goo... We also have tools to help Creators resolve their copyright strikes - including waiting for it to expire after 90 days, requesting a retraction, or submitting a counter notification. Content ID ... In Florida, if you have a deficiency and it becomes a deficiency judgement, the Florida bank can seize your assets (bank accounts, cars, estate, etc.) for up to 20 years. From the statisticians forecasting sports scores to the intelligent bots beating human poker players, Adam Kucharski traces the scientific origins of the wor... If you wish to receive Private Tutoring: http://wa.me/94777037245Enroll in the ATHE Endorsed Programme Foundations of Contract Law: https://go.thelawsimpli... New York Governor Andrew Cuomo said legal troubles were the motivator behind US President Donald Trump's change in residency.Trump tweeted late on Thursday t... Multiple efforts are underway to make legalized recreational marijuana a key issue in Florida next year. There are a handful of organizations working to get ... What happens inside the brain of a gambling addict when they make a bet - and can the secret to their addiction be found within the brain itself? BBC Panoram... In these cases, our review team will place an age restriction on the video so it will not be visible to viewers under 18 years of age, logged-out users, or to those who have Restricted Mode enabled.