Seneca Niagara Begins $40 Million Casino Beautification, Still No Payments to Cash-Strapped City
The Seneca Nation has announced it’ll begin work for a $40 million makeover of the Seneca Niagara Resort & Casino in the City of Niagara Falls, because 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 gambling enterprises are bearing the burden.
The Senecas stopped payments that are making a 12 months ago. Under the terms of a 2002 compact, they were anticipated 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 change for the tribe’s exclusive right offer casino gaming in those cities.
But the tribe stopped payments that are making a 12 months 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 party.
‘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.
The state has said there are ‘no legitimacy to these claims,’ while the tribe’s assertion it can ‘unilaterally end paying the continuing state share while continuing to enjoy the huge benefits of this compact has no foundation in the compact, law or logic.’
Late final 12 months, nyc State declared the Seneca Nation become in violation of its compact and delivered an interest in lawfully binding arbitration, which, months later, has yet to have underway.
For the time being, the Senecas are organizing ‘a flowing, landscaped entry boulevard’ to the Niagara Resort & Casino with ‘extensive landscaping, sculpture features.’
‘We have long seen our Niagara Territory, and this vantage point of Seneca Niagara in particular, as standing during the door to Niagara Falls,’ said Seneca country President Todd Gates said in a declaration. ‘As many more people check out our resort and discover and rediscover the wonders of Niagara, we want to make an impression that is immediate them.’
Niagara Falls into Disrepair
However the actual City of Niagara Falls a community of around 50,000 people that battles to compete on an economic degree with its more popular Canadian namesake is scrambling to balance its spending plan without the amount of money it once relied on as a host community. The town has high crime rates, while around 60 percent of residents accept government assistance.
Mayor Paul Dyster recently announced Niagara Falls was scaling back tasks such as road improvements through not enough funds and wouldn’t rule out raising fees.
Meanwhile, city councilman Chris Voccio told neighborhood radio station WBFO this week that while the Senecas landscape their entry boulevard, the council will have to make ‘some difficult 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 fallen at the first fence.
The Kansas Senate in Topeka missed a possibility to ‘right the wrong,’ in the expressed words of Senator Bruce Givens, whoever bill sought to bring back the state’s extinct horseracing industry. (Image: Kansas Public Radio)
SB 427 desired to cut taxation rates for racetracks, which supporters argue have been so punitive that they’ve killed off the once-thriving thoroughbred and quarter horseracing industry into the state.
But 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.
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 in the latter case, demolished. Horse breeders and owners are forced to go to other states to compete in races.
SB 427 would have slashed the 40 percent cut the racetracks paid to the continuing state when they had been functional to 22 per cent, based on the amount currently paid by Kansas’ four ‘state owned’ casinos.
‘It creates the ability to, exactly what I like to call, right the wrong. The incorrect was when the Legislature raised the tax share from 22 % to 40 percent,’ the bill’s sponsor, Senator Bruce Givens (R-Eldorado), told the Senate, including that he believed the bill would produce 4,000 jobs.
Senate Minority Leader Anthony Hensley (D-Topeka) consented. She said it would revive a business that ‘really needs our assistance.’
‘We need to offer the racetracks a 2nd 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 re payments since their establishment in 2008.
There’s a breach of agreement. There’s no concern those contracts were meant to be punitive,’ said Sen. Ty Masterson, R-Andover. ‘It’s almost like we now have a desire that is masochistic protracted litigation. I don’t understand what we’re doing.’
The Kansas casino sector is nominally ‘state-owned’ however the undeniable fact that the casinos would sue the state to protect their interests illustrates the reality that they are anything but.
The bill attempted to handle this presssing 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 will return 1 / 2 of the racetracks’ revenue-share re payments until they certainly were quits.
But for Senator Vicki Schmidt (R-Topeka), this had been too convoluted and the danger too high. She demanded to learn why the Senate would gamble on undermining a one bahis casino sector that had paid $513 million to state coffers over the previous decade.
Nevada Casinos 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 third consecutive month eclipsing the celebratory threshold.
Fans again packed the Westgate’s International Theater for March Madness, as sportsbooks around the state helped Nevada casinos again conquer $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 in front of where they were this time last 12 months through the very first 3 months in 2018.
The Strip ended up being chiefly 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 down that January, February, and March’s $1 billion hauls are the time that is first 2008 that Silver State gambling enterprises have actually surpassed the 10-digit plateau in three consecutive months.
March 2018 benefited from an extra saturday compared to the month 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.
Combined with 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 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 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 than in March 2017 when 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 basketball, since the popularity of gambling on the NCAA men’s basketball competition continues to increase.
Perhaps the news that is best within the launch is the fact that Strip revenues have actually reversed course after four consecutive monthly declines following the 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 the length of time Asian visitors, which are critical to your main drag, would remain away.
Caesars CEO Mark Frissora stated in October that ‘people in Asia are particularly respectful of the deaths,’ and included regarding a mourning period, ‘I’ve heard so it’s sometimes a period of three, four months.’
Baccarat, the most popular game among people from Asian nations, saw win amounts fall in each of the four months, the largest coming in December when the table game’s revenues retracted 30 %.
But Frissora being told the mourning period would endure up to four months seems accurate, as baccarat play has published big gains in February and March (correspondingly 83 per cent and 115 percent). To date, GGR on the Strip is up 3.3 percent year.