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 City of Niagara Falls, as it continues to withhold revenue-share payments to the State of New York 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 burden.
The Senecas stopped payments that are making a year ago. Under the terms of a 2002 lightweight, they had been 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 trade for the tribe’s exclusive right offer casino gaming in those cities.
However the tribe stopped making payments over a year 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 here are ‘no legitimacy to these claims,’ therefore the tribe’s assertion so it can ‘unilaterally end paying the continuing state share while continuing to enjoy the huge benefits associated with the compact has no basis in the compact, law or logic.’
Late year that is last ny State declared the Seneca country become in breach of its compact and delivered an interest in lawfully binding arbitration, which, months later, has yet getting 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 during the door that is front Niagara Falls,’ said Seneca Nation President Todd Gates said in a declaration. ‘As many more people check out our resort and discover and rediscover the wonders of Niagara, you want to 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 battles 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 government assistance that is receive.
Mayor Paul Dyster recently announced Niagara Falls was scaling back tasks such as road improvements through not enough funds and wouldn’t rule out taxes that are raising.
Meanwhile, city councilman Chris Voccio told regional radio station WBFO this week that while the Senecas landscape their entry boulevard, the council will have in order to make ‘some hard 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 industries has fallen at the first fence.
The Kansas Senate in Topeka missed a chance to ‘right the incorrect,’ in the terms of Senator Bruce Givens, whoever bill sought to regenerate 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 2 x bet thoroughbred and quarter horseracing industry into the state.
But the bill was narrowly defeated into the Senate by 20-17, as opposing lawmakers argued the measure would violate agreements that are existing the state and its four casino operators.
Despite its racing heritage, the quantity of racetracks operating today in Kansas is precisely zero. Its famous venues like Eureka Downs and Anthony Downs are shuttered, or in 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 the state when they had been operational to 22 %, on the basis of the quantity presently paid by Kansas’ four ‘state owned’ gambling enterprises.
‘It creates the chance to, what I love to call, right the wrong. The incorrect was when the Legislature raised the tax share from 22 per cent to 40 %,’ the bill’s sponsor, Senator Bruce Givens (R-Eldorado), told the Senate, including that the bill was believed by him would create 4,000 jobs.
Senate Minority Leader Anthony Hensley (D-Topeka) consented. It was said by her would revive a market that ‘really needs our help.’
‘We need to offer the racetracks a second chance,’ she stated.
But opponents cited a 2016 viewpoint from Kansas AG Derek Schmidt warning that the state’s casinos would file suit against likely their state for breach of contract and need the reimbursement of millions in revenue-share payments since their establishment in 2008.
There exists a breach of contract. There’s no question those contracts were supposed to be punitive,’ said Sen. Ty Masterson, R-Andover. ‘It’s almost like we have a desire that is masochistic protracted litigation. I actually don’t understand what we’re doing.’
The Kansas casino sector is nominally ‘state-owned’ however the known undeniable fact that the casinos would sue the state to protect their passions illustrates the truth 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 repay the casinos. Racetrack owners would then be refunded by the state, which may return 50 % of the racetracks’ revenue-share re payments until they certainly were quits.
However for Senator Vicki Schmidt (R-Topeka), this was too convoluted and the chance 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 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 3rd month that is consecutive the celebratory threshold.
Fans again packed the Westgate’s Global 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 year that is last 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 up for grabs 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 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.
Combined with the healthier March 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 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 basketball, oddsmakers actually won eight percent less compared to March 2017 once 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 record that is new for basketball, since the popularity of gambling on the NCAA men’s baseball competition continues to increase.
Perhaps the news that is best in the launch is Strip revenues have actually reversed course after four consecutive monthly declines following the October 1 massacre. Strong baccarat play implies that site visitors from parts of asia are going back to Las Vegas.
GGR along the Strip decreased from October through January. a primary financial concern was determining just how long Asian visitors, which are critical to your main drag, would remain away.
Caesars CEO Mark Frissora said 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 time period of three, four months.’
Baccarat, the most popular game among tourists from Asian countries, saw win quantities 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 last as much as four months seems accurate, as baccarat play has published gains that are big February and March (respectively 83 per cent and 115 %). Year to date, GGR on the Strip is up 3.3 percent.