Seneca Niagara Begins $40 Million Casino Beautification, Still No Payments to Cash-Strapped City
The Seneca Nation has announced it’s going to 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 ny and local communities.
The Seneca Niagara Resort & Casino has announced its revamp that is big meanwhile the standoff between your Seneca Nation and hawaii of New York shows no signs of progress, and the communities that host the tribe’s casinos are bearing the burden.
The Senecas stopped payments that are making a 12 months ago. Under the terms of a 2002 lightweight, they had been anticipated to contribute around $100 million per year to the state, a sum that ended up being then distributed between Albany, Buffalo, Niagara Falls and Salamanca, in change for the tribe’s exclusive right offer casino gaming in those cities.
However the tribe stopped making payments over 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 specific clause within 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 that it can ‚unilaterally end paying the state contribution while continuing to enjoy the huge benefits for the compact has no basis in the compact, legislation or logic.‘
Late final year, New York State declared the Seneca country to be in breach of its compact and delivered a demand for legitimately binding arbitration, which, months later, has yet getting underway.
For the time being, the Senecas are organizing ‚a flowing, landscaped entry boulevard‘ to the Niagara Resort & Casino with ‚extensive gardening, sculpture features.‘
‚We have long viewed our Niagara Territory, and this vantage point of Seneca Niagara in particular, as standing during the door to Niagara Falls,‘ said 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 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 on an level that is economic its more popular Canadian namesake is scrambling to balance its spending plan without the funds 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 had been 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 radio that is local WBFO this week that while the Senecas landscape their entry boulevard, the council will have to help make ’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 an opportunity to ‚right the wrong,‘ in the terms of Senator Bruce Givens, whose bill sought to regenerate the state’s extinct horseracing industry. (Image: Kansas Public Radio)
SB 427 desired to cut tax rates for racetracks, which supporters argue have already been so punitive that they’ve killed off the once-thriving thoroughbred and quarter horseracing industry within the state.
Nevertheless the bill was narrowly defeated in the Senate by 20-17, as opposing lawmakers argued the measure would violate 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 http://1xbets-giris.top/ 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 towards the continuing state whenever they were operational to 22 %, based on the amount presently paid by Kansas‘ four ’state owned‘ gambling enterprises.
‚It creates the opportunity to, what I like to phone, right the wrong. The incorrect was when the Legislature raised the tax share from 22 percent to 40 percent,‘ the bill’s sponsor, Senator Bruce Givens (R-Eldorado), told the Senate, including that he believed the bill would create 4,000 jobs.
Senate Minority Leader Anthony Hensley (D-Topeka) consented. It was said by her would revive a business that ‚really needs our assistance.‘
‚We need to give the racetracks a 2nd chance,‘ she said.
But opponents cited a 2016 viewpoint from Kansas AG Derek Schmidt warning that the state’s casinos would likely file suit against their state for breach of contract and demand the reimbursement of millions in revenue-share re payments since their establishment in 2008.
There is a breach of contract. There’s no relevant question 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 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 reality that they are anything but.
The bill attempted to deal with 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 may return half of the racetracks‘ revenue-share re payments until they were quits.
But also for Senator Vicki Schmidt (R-Topeka), this had been too convoluted and the risk 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 decade that is past.
Nevada Casinos Top $1 Billion in March, Sportsbooks Set Basketball Handle Record
Nevada gambling enterprises collectively won a lot 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 make an impression on $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 12 months through the very first 3 months in 2018.
The Strip was 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 away that January, February, and March’s $1 billion hauls are the first time since 2008 that Silver State casinos have surpassed the 10-digit plateau in three consecutive months.
March 2018 benefited from an extra saturday in comparison to the month in 2017. While gaming was strong, the Las Vegas Convention and Visitors Authority (LVCVA) reported that visitor volume totaled 3.75 million, a nearly one percent drop.
Combined with the March that is healthy gaming includes revenues from sportsbook operations. And last month, oddsmakers scored a slam dunk on baseball.
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 than in March 2017 if they won over $41.2 million on a 9.6 percent rate that is win.
March 2018 was the seventh straight March that posted a new record handle for baseball, once the popularity of gambling on the NCAA men’s basketball tournament continues to increase.
Perhaps the most useful news into the launch is that Strip revenues have reversed course after four consecutive monthly declines following a October 1 massacre. Strong baccarat play suggests that site visitors from Asian countries are time for 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 towards the main drag, would remain away.
Caesars CEO Mark Frissora stated in October that ‚people in Asia have become 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 game that is popular people from Asian countries, 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 last up to four months seems accurate, as baccarat play has published big gains in February and March (respectively 83 % and 115 per cent). Year to date, GGR on the Strip is up 3.3 percent.