27 March

Seneca Niagara Begins $40 Million Casino Beautification, Still No Payments to Cash-Strapped City

Seneca Niagara Begins $40 Million Casino Beautification, Still No Payments to Cash-Strapped City

The Seneca Nation has announced it will begin work for a $40 million makeover of the Seneca Niagara Resort & Casino in the City of Niagara Falls, since it continues to withhold revenue-share re payments to the State of New York and communities that are local.

The Seneca Niagara Resort & Casino has announced its big revamp, but meanwhile the standoff between the Seneca Nation and the State of New York shows no signs of progress, and the communities that host the tribe’s gambling enterprises are bearing the burden.

The Senecas stopped making payments over a year ago. Under the terms of a 2002 lightweight, they were expected to contribute around $100 million a year to their state, a sum that had been then distributed between Albany, Buffalo, Niagara Falls and Salamanca, in trade for the tribe’s exclusive right offer casino gaming in those cities.

But the tribe stopped making payments over a year ago. The 2002 contract expired in 2016, but it was stipulated within that it would roll over for another seven years, provided there were no objections from either celebration.

‘Defying Law and Logic’

But the Senecas argue that there was no specific clause within the agreement that said revenue-share payments would continue beyond 2016.

Their state has stated there are ‘no legitimacy to these claims,’ and the tribe’s assertion it can ‘unilaterally end paying the continuing state share while continuing to enjoy the advantages regarding the compact has no basis in the compact, legislation or logic.’

Later year that is last nyc State declared the Seneca country become in breach of its compact and delivered an interest in lawfully binding arbitration, which, months later, has yet to get underway.

The Senecas are organizing ‘a flowing, landscaped entry boulevard’ to the Niagara Resort & Casino with ‘extensive landscaping, sculpture features. in the meantime’

‘We have very long seen our Niagara Territory, and this vantage point of Seneca Niagara in particular, as standing during the door that is front Niagara Falls,’ said Seneca Nation President Todd Gates said in a statement. ‘As many more people see our resort and discover and rediscover the wonders of Niagara, we want to make an immediate impression on them.’

Niagara Falls into Disrepair

However the actual City of Niagara Falls a community of around 50,000 people that struggles to compete for an financial degree with its more popular Canadian namesake is scrambling to balance its budget without the money it once relied on as a host community. The city has high crime rates, while around 60 percent of residents government assistance that is receive.

Mayor Paul Dyster recently announced Niagara Falls had been scaling back tasks such as road improvements through lack of funds and wouldn’t rule out taxes that are raising.

Meanwhile, city councilman Chris Voccio told radio that is local WBFO this week that while the Senecas landscape their entry boulevard, the council will have to produce ‘some hard decisions’ this budget season.

Kansas Horse Racing Revival Bill Dies into the Senate

A legislative push aimed at rebuilding Kansas’ defunct horse and dog racing companies has fallen at the fence that is first.

The Kansas Senate in Topeka missed a chance to ‘right the incorrect,’ in the terms of Senator Bruce Givens, whoever bill sought to regenerate the state’s extinct horseracing industry. (Image: Kansas Public Radio)

SB 427 sought to cut tax rates for racetracks, which supporters argue have already been therefore punitive that they have killed off the once-thriving thoroughbred and quarter horseracing industry within the state.

However the bill was narrowly defeated within the Senate by 20-17, as opposing lawmakers argued the measure would violate existing agreements between the state and its four casino operators.

Despite its race heritage, the quantity of racetracks operating today in Kansas is precisely zero. Its famous venues like Eureka Downs and Anthony Downs are shuttered, or in the second case, demolished. Horse breeders and owners are forced to go to other states to compete in races.

Righting Wrongs

SB 427 would have slashed the 40 percent slice the racetracks paid to the continuing state whenever they had been operational to 22 percent, in line with the amount currently paid by Kansas’ four ‘state owned’ casinos.

‘It creates the opportunity to, what I like to call, right the wrong. The wrong was when the Legislature raised the tax share from 22 per cent to 40 percent,’ the bill’s sponsor, Senator Bruce Givens (R-Eldorado), told the Senate, incorporating that he believed the bill would produce 4,000 jobs.

Senate Minority Leader Anthony Hensley (D-Topeka) agreed. It was said by her would revive an industry that ‘really needs our assistance.’

‘We need to offer the racetracks a chance that is second’ she stated.

‘Masochistic’ Litigation

But opponents cited a 2016 viewpoint from Kansas AG Derek Schmidt warning that the state’s casinos would likely register suit against their state for breach of agreement and need the reimbursement of millions in revenue-share payments since their establishment in 2008.

There’s a breach of agreement. There’s no question those contracts were meant to be punitive,’ said Sen. Ty Masterson, R-Andover. ‘It’s almost like we’ve a masochistic desire for protracted litigation. I actually don’t understand what we’re doing.’

The Kansas casino sector is nominally ‘state-owned’ nevertheless the known undeniable fact that the casinos would sue the state to protect their interests illustrates the truth which they are anything but.

The bill attempted to address this presssing problem by allowing racetrack owners to submit a letter of credit promising to repay the casinos. Racetrack owners would be refunded by then the state, which would return 1 / 2 of the racetracks’ revenue-share re payments until these people were quits.

But for 1xbet promosyon kodu Senator Vicki Schmidt (R-Topeka), this ended up being too convoluted and the risk too high. She demanded to understand why the Senate would gamble on undermining a casino sector that had paid $513 million to state coffers over the past decade.

Nevada Casinos Top $1 Billion in March, Sportsbooks Set Basketball Handle Record

Nevada gambling enterprises collectively won more than $1 billion in March, which marks the industry’s 3rd month that is consecutive the celebratory threshold.

Fans once again packed the Westgate’s International Theater for March Madness, as sportsbooks around the continuing state helped Nevada casinos again win over $1 billion. (Image: Chase Stevens/Las Vegas Review-Journal)

Statewide, gross gaming revenue (GGR) totaled $1.024 billion, a 3.4 percent premium on March 2017. Casinos are now 2.85 percent ahead of where they were this time year that is last the first three months in 2018.

The Strip was mainly responsible for the revenue surge, as GGR came in 9.1 percent higher at almost $574 million. Baccarat was the driving force, as casinos won $114.8 million on the table game at a 14 percent win rate.

Penny slots accounted for the lion’s share of GGR statewide, with the machines winning $283.3 million. Baccarat was next at $117.2 million, then blackjack ($95.2 million), craps and sports operations (both at $34.1 million), and roulette ($29 million).

Nevada Gaming Control Board Senior Research Analyst Michael Lawton pointed out that January, February, and March’s $1 billion hauls are the time that is first 2008 that Silver State gambling enterprises have surpassed the 10-digit plateau in three consecutive months.

March 2018 benefited from A saturday that is extra compared the month in 2017. While gaming had been strong, the Las Vegas Convention and Visitors Authority (LVCVA) reported that visitor volume totaled 3.75 million, a nearly one percent drop.

Sportsbooks Prosper

Combined with March that is healthy gaming includes revenues from sportsbook operations. And month that is last oddsmakers scored a slam dunk on baseball.

A record $436.5 million was bet on the sport, the most coming on college’s NCAA March Madness. Sportsbooks reported a rate that is win of percent, meaning hoops generated more than $38 million for the home.

While the $436.5 million handle is just a new high for basketball, oddsmakers actually won eight percent less than in March 2017 when they won over $41.2 million on a 9.6 % rate that is win.

March 2018 was the seventh straight March that posted a brand new record handle for baseball, due to the fact appeal of gambling on the NCAA men’s basketball competition continues to increase.

Viva Strip

Perhaps the most readily useful news in the release is the fact that Strip revenues have reversed course after four consecutive monthly declines following October 1 massacre. Strong baccarat play implies that visitors from parts of asia are returning to Las Vegas.

GGR along the Strip reduced from October through January. a primary concern that is financial determining just how long Asian visitors, that are critical to the main drag, would remain away.

Caesars CEO Mark Frissora stated in that ‘people in Asia are very respectful associated with deaths,’ and added regarding a mourning period, ‘I’ve heard that it is sometimes a time period of three, four months. october’

Baccarat, the most game that is popular tourists from Asian countries, saw win quantities fall in each of the four months, the largest arriving December when the table game’s revenues retracted 30 percent.

But Frissora being told the mourning period would endure as much as four months seems accurate, as baccarat play has published gains that are big February and March (respectively 83 % and 115 %). To date, GGR on the Strip is up 3.3 percent year.