Seneca Niagara Begins $40 Million Casino Beautification, Still No Payments to Cash-Strapped City
11299
post-template-default,single,single-post,postid-11299,single-format-standard,bridge-core-1.0.4,cookies-not-set,qode-quick-links-1.0,ajax_fade,page_not_loaded,,qode_grid_1300,footer_responsive_adv,hide_top_bar_on_mobile_header,qode-content-sidebar-responsive,qode-theme-ver-18.0.9,qode-theme-bridge,qode_header_in_grid,wpb-js-composer js-comp-ver-5.7,vc_responsive
 

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

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

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

The Seneca Niagara Resort & Casino has announced its revamp that is big meanwhile the standoff between your Seneca Nation and their state of New York shows no signs of progress, and the communities that host the tribe’s casinos are bearing the responsibility.

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

But the tribe stopped making repayments over a 12 months ago. The 2002 contract expired in 2016, but it ended up being 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 clause that is specific the agreement that said revenue-share payments would continue beyond 2016.

Their state has stated here are ‘no legitimacy to these claims,’ as well as the tribe’s assertion so it can ‘unilaterally end paying the state contribution while continuing to enjoy the huge benefits regarding the compact has no foundation in the compact, legislation or logic.’

Late final year, ny State declared the Seneca country to be in violation of its compact and delivered an interest in legally binding arbitration, which, months later, has yet to get underway.

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

‘We have very long viewed our Niagara Territory, and this vantage point of Seneca Niagara in particular, as standing at the door that is front Niagara Falls,’ said Seneca Nation President Todd Gates said in a statement. ‘As many more people check out our resort and discover and rediscover the wonders of Niagara, we should 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 level that is economic its more popular Canadian namesake is scrambling to balance its spending plan without the cash it once relied on as a host community. The town has high crime rates, while around 60 percent of residents government assistance that is receive.

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

Meanwhile, city councilman Chris Voccio told local radio station 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 in the Senate

A legislative push aimed at rebuilding Kansas’ defunct horse and dog racing industries has dropped at the first fence.

The Kansas Senate in Topeka missed a possibility to ‘right the incorrect,’ in the expressed terms of Senator Bruce Givens, whoever bill sought to bring back 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 will have killed off the once-thriving thoroughbred and quarter horseracing industry in the state.

But the bill was narrowly defeated into the Senate by 20-17, as opposing lawmakers argued the measure would break agreements that are existing the state and its four casino operators.

The number of racetracks operating today in Kansas is precisely zero despite its racing heritage. Its famous venues like Eureka Downs and Anthony Downs are http://1xbets-giris.top/ shuttered, or into the case that is latter 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 cut the racetracks paid to your state when they were operational to 22 percent, in line with the quantity currently paid by Kansas’ four ‘state owned’ casinos.

‘It creates the ability to, just what I like to phone, right the wrong. The incorrect was when the Legislature raised the tax share from 22 % to 40 per cent,’ 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. She said it would revive a business that ‘really requires our assistance.’

‘We need to give 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 probably file suit against the state for breach of contract and need the reimbursement of millions in revenue-share re payments since their establishment in 2008.

There’s a breach of agreement. There’s no relevant question those agreements had been supposed to be punitive,’ said Sen. Ty Masterson, R-Andover. ‘It’s almost like we now have a masochistic desire for protracted litigation. I really don’t understand what we are doing.’

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

The bill attempted to address this problem by allowing racetrack owners to submit a letter of credit promising to settle 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 also for Senator Vicki Schmidt (R-Topeka), this was too convoluted and the chance too high. She demanded to know why the Senate would gamble on undermining a casino sector that had paid $513 million to state coffers over the previous decade.

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

Nevada casinos collectively won a lot more than $1 billion in March, which marks the industry’s 3rd consecutive month eclipsing the celebratory threshold.

Fans once again stuffed the Westgate’s Global 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 last 12 months through the first 3 months in 2018.

The Strip had been chiefly responsible for the revenue surge, as GGR came in 9.1 percent higher at nearly $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 down that January, February, and March’s $1 billion hauls are the time that is first 2008 that Silver State casinos have actually 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 last month, oddsmakers scored a slam dunk on basketball.

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 your house.

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

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

Viva Strip

Perhaps the news that is best within the launch is that Strip revenues have actually reversed course after four consecutive monthly declines following the October 1 massacre. Strong baccarat play implies that visitors from Asian countries are returning to Las Vegas.

GGR along the Strip decreased from through January october. a primary financial concern was determining the length of time Asian visitors, that are critical to the main drag, would stay away.

Caesars CEO Mark Frissora stated in that ‘people in Asia are respectful for the deaths,’ and included regarding a mourning duration, ‘I’ve heard that it’s sometimes a time period of three, four months. october’

Baccarat, the most popular game among people from Asian countries, saw win amounts fall in each of the four months, the largest arriving December when the table game’s revenues retracted 30 %.

But Frissora being told the mourning period would last as much as four months seems accurate, as baccarat play has posted gains that are big February and March (correspondingly 83 percent and 115 %). Year to date, GGR regarding the Strip is up 3.3 percent.

No Comments

Sorry, the comment form is closed at this time.