Seneca Niagara Begins $40 Million Casino Beautification, Still No Payments to Cash-Strapped City
The Seneca Nation has announced it’ll begin work on a $40 million makeover of the Seneca Niagara Resort & Casino in the City of Niagara Falls, as it continues to withhold revenue-share payments to the State of ny and communities that are local.
The Seneca Niagara Resort & Casino has announced its big revamp, but meanwhile the standoff involving 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 payments that are making 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 xbettr in those cities under the terms of a 2002 compact, they were expected to contribute around $100 million a year to the state.
Nevertheless the tribe stopped making repayments 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 particular clause within the agreement that said revenue-share payments would continue beyond 2016.
The state has stated here are ‘no legitimacy to these claims,’ plus the tribe’s assertion it can ‘unilaterally end paying the state share while continuing to enjoy the advantages for the compact has no basis in the compact, law or logic.’
Late year that is last New York State declared the Seneca country to be in violation 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. within the meantime’
‘We have long viewed our Niagara Territory, and this vantage point of Seneca Niagara in particular, as standing at the door to Niagara Falls,’ said Seneca country President Todd Gates said in a declaration. ‘As many more people visit our resort and discover and rediscover the wonders of Niagara, we should make an immediate impression on them.’
Niagara Falls into Disrepair
But 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 budget without the money it once relied on as a host community. The city has high crime rates, while around 60 percent of residents accept government assistance.
Mayor Paul Dyster recently announced Niagara Falls had been scaling back projects such as road improvements through not enough 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 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 possibility to ‘right the incorrect,’ in the expressed words of Senator Bruce Givens, whoever bill sought to revive the state’s extinct horseracing industry. (Image: Kansas Public Radio)
SB 427 sought to cut tax rates for racetracks, which supporters argue have been therefore punitive that they will have killed off the once-thriving thoroughbred and quarter horseracing industry in the state.
Nevertheless the bill was narrowly defeated within the Senate by 20-17, as opposing lawmakers argued the measure would break existing agreements between the state and its four casino operators.
Despite its race heritage, the amount of racetracks operating today in Kansas is precisely zero. Its famous venues like Eureka Downs and Anthony Downs are shuttered, or into the latter 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 cut the racetracks paid to your continuing state whenever they had been functional to 22 per cent, based on the amount currently paid by Kansas’ four ‘state owned’ gambling enterprises.
‘It creates the chance to, what I like to call, right the wrong. The wrong 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, adding that the bill was believed by him would produce 4,000 jobs.
Senate Minority Leader Anthony Hensley (D-Topeka) consented. She said it would revive a market that ‘really requires our help.’
‘We need to give the racetracks a second chance,’ she said.
But opponents cited a 2016 opinion from Kansas AG Derek Schmidt warning that the state’s casinos would file suit against likely their state for breach of contract and demand the reimbursement of millions in revenue-share payments since their establishment in 2008.
There’s a breach of contract. There’s no concern those agreements had been meant to be punitive,’ said Sen. Ty Masterson, R-Andover. ‘It’s just 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 deal with this issue by allowing racetrack owners to submit a letter of credit promising to repay the casinos. Racetrack owners would then be refunded by the state, which may return half of the racetracks’ revenue-share re payments until these were quits.
But also for Senator Vicki Schmidt (R-Topeka), this ended up being too convoluted and the danger too high. She demanded to learn 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 significantly more than $1 billion in March, which marks the industry’s 3rd month that is consecutive the celebratory threshold.
Fans again packed the Westgate’s Global Theater for March Madness, as sportsbooks around the continuing state assisted Nevada casinos again conquer $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 ahead of where they were this time year that is last the very first 3 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 first time since 2008 that Silver State gambling enterprises have actually surpassed the 10-digit plateau in three consecutive months.
March 2018 benefited from an extra saturday when compared with 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 March that is healthy gaming 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 rate that is win of percent, meaning hoops generated more than $38 million for your house.
While the $436.5 million handle is a new high for baseball, oddsmakers actually won eight percent less than in March 2017 if they won over $41.2 million for a 9.6 percent rate that is win.
March 2018 was the seventh straight March that posted a new record handle for baseball, as the popularity of gambling on the NCAA men’s basketball tournament continues to increase.
Perhaps the news that is best into the release is that Strip revenues have reversed course after four consecutive monthly declines following a October 1 massacre. Strong baccarat play shows that visitors from Asian countries are time for Las Vegas.
GGR along the Strip decreased from October through January. a main concern that is financial determining just how long Asian visitors, which are critical towards the main drag, would remain away.
Caesars CEO Mark Frissora said in that ‘people in Asia are respectful associated with the deaths,’ and added regarding a mourning duration, ‘I’ve heard that it’s sometimes a period of three, four months. october’
Baccarat, the most game that is popular 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 published big gains in February and March (correspondingly 83 per cent and 115 %). Year to date, GGR regarding the Strip is up 3.3 percent.