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, as it continues to withhold revenue-share re payments to the State of nyc and communities that are local.
The Seneca Niagara Resort & Casino has announced its big revamp, but meanwhile the standoff between the Seneca Nation and their state of New York shows no signs of progress, and the communities that host the tribe’s gambling enterprises are bearing the responsibility.
The Senecas stopped making payments over a year ago. A sum that was then distributed between Albany, Buffalo, Niagara Falls and Salamanca, in exchange for the tribe’s exclusive right offer casino gaming in those cities under the terms of a 2002 compact, they were expected to contribute around $100 million a year to the state.
However the tribe stopped making payments over a 12 months ago. The 2002 agreement 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 clause that is specific the agreement that said revenue-share payments would continue beyond 2016.
Their state has stated there are ‘no legitimacy to these claims,’ and also the tribe’s assertion it can ‘unilaterally end paying the continuing state contribution while continuing to enjoy the huge benefits of this compact has no foundation in the 1xbet android compact, legislation or logic.’
Later last 12 months, ny State declared the Seneca Nation 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 organizing ‘a flowing, landscaped entry boulevard’ to the Niagara Resort & Casino with ‘extensive landscaping, sculpture features. within the meantime’
‘We have very long seen our Niagara Territory, and this vantage point of Seneca Niagara in particular, as standing at the door that is front Niagara Falls,’ stated Seneca Nation President Todd Gates said in a statement. ‘As many more people visit our resort and discover and rediscover the wonders of Niagara, we should make an impression that is immediate them.’
Niagara Falls into Disrepair
Nevertheless 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 money it once relied on as a host community. The town has high crime rates, while around 60 percent of residents enjoy government assistance.
Mayor Paul Dyster recently announced Niagara Falls was scaling back projects such as road improvements through lack of funds and wouldn’t rule out raising taxes.
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 help make ‘some difficult 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 dropped at the first fence.
The Kansas Senate in Topeka missed a chance to ‘right the wrong,’ in the words of Senator Bruce Givens, whose bill sought to bring back the state’s extinct horseracing industry. (Image: Kansas Public Radio)
SB 427 desired to cut income tax rates for racetracks, which supporters argue have been so punitive that they’ve 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 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 shuttered, or within the second case, demolished. Horse breeders and owners are forced to travel to other states to compete in races.
SB 427 would have slashed the 40 percent slice the racetracks paid to your continuing state whenever they were functional to 22 %, on the basis of the amount presently paid by Kansas’ four ‘state owned’ casinos.
‘It creates the chance to, just what I love to phone, right the wrong. The incorrect was when the Legislature raised the tax share from 22 percent to 40 per cent,’ the bill’s sponsor, Senator Bruce Givens (R-Eldorado), told the Senate, incorporating that the bill was believed by him would create 4,000 jobs.
Senate Minority Leader Anthony Hensley (D-Topeka) agreed. She said it would revive an industry that ‘really requires our assistance.’
‘We need to give the racetracks a chance that is second’ she said.
But opponents cited a 2016 viewpoint from Kansas AG Derek Schmidt warning that the state’s casinos would file suit against likely hawaii for breach of agreement and demand the reimbursement of millions in revenue-share payments since their establishment in 2008.
There exists a breach of agreement. There’s no relevant question those agreements were meant to be punitive,’ said Sen. Ty Masterson, R-Andover. ‘It’s almost like we have a masochistic desire for protracted litigation. I actually don’t understand what we’re doing.’
The Kansas casino sector is nominally ‘state-owned’ but the proven fact that the casinos would sue the state to protect their interests illustrates the reality they are anything but.
The bill attempted to deal with this presssing issue 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 may return 1 / 2 of the racetracks’ revenue-share payments until these people were quits.
However for Senator Vicki Schmidt (R-Topeka), this had been too convoluted and the chance 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 decade that is past.
Nevada Gambling Enterprises 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 consecutive month eclipsing the celebratory threshold.
Fans once again stuffed 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 video gaming revenue (GGR) totaled $1.024 billion, a 3.4 percent premium on March 2017. Casinos are now 2.85 percent in front of where they were this time last year through the very first 3 months in 2018.
The Strip ended up being mainly 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 out that January, February, and March’s $1 billion hauls are the time that is first 2008 that Silver State casinos have surpassed the 10-digit plateau in three consecutive months.
March 2018 benefited from A saturday that is extra compared the thirty days in 2017. While gaming ended up being strong, the Las Vegas Convention and Visitors Authority (LVCVA) reported that visitor volume totaled 3.75 million, a nearly one percent drop.
Along with the healthy March video gaming report includes revenues from sportsbook operations. And month that is last oddsmakers scored a slam dunk on basketball.
A record $436.5 million had been bet on the sport, the most coming on university’s NCAA March Madness. Sportsbooks reported a win rate of 8.71 percent, meaning hoops generated significantly more than $38 million for your house.
While the $436.5 million handle is really a new high for baseball, oddsmakers actually won eight percent less compared to March 2017 if they won over $41.2 million on a 9.6 percent win rate.
March 2018 was the seventh straight March that posted a brand new record handle for basketball, as the popularity of gambling on the NCAA men’s baseball competition continues to increase.
Perhaps the most useful news within the launch is the fact that Strip revenues have actually reversed course after four consecutive monthly declines after the October 1 massacre. Strong baccarat play shows that site visitors from parts of asia are time for Las Vegas.
GGR along the Strip decreased from through January october. a primary financial concern was determining how long Asian visitors, that are critical to your main drag, would stay away.
Caesars CEO Mark Frissora said in October that ‘people in Asia are extremely respectful of the deaths,’ and added regarding a mourning period, ‘I’ve heard that it’s sometimes a period of three, four months.’
Baccarat, the most popular game among tourists from Asian nations, saw win amounts fall in each of the four months, the largest to arrive December when the table game’s revenues retracted 30 %.
But Frissora being told the mourning period would endure as much as four months seems accurate, as baccarat play has published big gains in February and March (respectively 83 % and 115 %). To date, GGR on the Strip is up 3.3 percent year.