was successfully added to your cart.

Seneca Niagara Begins $40 Million Casino Beautification, Still No Payments to Cash-Strapped City

By March 27, 2020blog

Seneca Niagara Begins $40 Million Casino Beautification, Still No Payments to Cash-Strapped City

The Seneca country has announced it’s going to begin work on a $40 million makeover of the Seneca Niagara Resort & Casino in the town of Niagara Falls, because it continues to withhold revenue-share re payments to the State of ny and local communities.

The Seneca Niagara Resort & Casino has announced its revamp that is big meanwhile the standoff involving the Seneca Nation and their state of New York shows no signs of progress, and the communities that host the tribe’s casinos are bearing the duty.

The Senecas stopped payments that are making a 12 months 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 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 particular clause within the agreement that said revenue-share payments would continue beyond 2016.

The state has said here 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 the compact has no basis in the compact, legislation or logic.’

Late year that is last nyc State declared the Seneca Nation become in breach of its compact and delivered a demand for legally binding arbitration, which, months later, has yet to get underway.

For the time being, the Senecas are planning ‘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 that is front Niagara Falls,’ said Seneca country President Todd Gates said in a declaration. ‘As many more people see 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 struggles to compete on an level that is economic its more popular Canadian namesake is scrambling to balance its budget without the amount of 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 had been scaling back jobs such as road improvements through not enough funds and wouldn’t rule out http://1xbets-giris.top/ raising fees.

Meanwhile, city councilman Chris Voccio told local 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 within the Senate

A legislative push aimed at rebuilding Kansas’ defunct horse and dog racing companies has dropped at the fence that is first.

The Kansas Senate in Topeka missed a chance to ‘right the incorrect,’ in the terms 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 so punitive that they’ve killed off the once-thriving thoroughbred and quarter horseracing industry within the state.

Nevertheless 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 into the latter case, demolished. Horse breeders and owners are forced to go to other states to compete in races.

Righting Wrongs

SB 427 would have slashed the 40 percent slice the racetracks paid to the continuing state when they were functional to 22 %, on the basis of the amount presently paid by Kansas’ four ‘state owned’ casinos.

‘It creates the chance to, exactly what I love to call, right the wrong. The wrong was when the Legislature raised the tax share from 22 per cent 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) agreed. She said it would revive a market that ‘really requires our help.’

‘We need to offer the racetracks a 2nd chance,’ she stated.

‘Masochistic’ Litigation

But opponents cited a 2016 opinion from Kansas AG Derek Schmidt warning that the state’s casinos would probably file suit against their state for breach of contract and need the reimbursement of millions in revenue-share re payments since their establishment in 2008.

There’s a breach of contract. There’s no question those agreements had been meant to be punitive,’ said Sen. Ty Masterson, R-Andover. ‘It’s just like we have a masochistic desire for protracted litigation. I don’t understand what we’re doing.’

The Kansas casino sector is nominally ‘state-owned’ but the known proven fact that the casinos would sue the state to protect their passions illustrates the reality which they are anything but.

The bill attempted to deal with this presssing 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 1 / 2 of the racetracks’ revenue-share payments until they certainly were quits.

But also for Senator Vicki Schmidt (R-Topeka), this ended up being 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 a lot 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 Global Theater for March Madness, as sportsbooks around the continuing state helped Nevada casinos again make an impression on $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 ahead of where they were this time last 12 months through the first three months in 2018.

The Strip had been mainly responsible for the revenue surge, as GGR came in 9.1 percent higher at almost $574 million. Baccarat was the force that is driving 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 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.

Sportsbooks Prosper

Combined with the healthy March gaming report includes revenues from sportsbook operations. And last month, oddsmakers scored a slam dunk on baseball.

A record $436.5 million was 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 a lot more than $38 million for the house.

While the $436.5 million handle is just a new high for basketball, oddsmakers actually won eight percent less than in March 2017 if they won over $41.2 million for a 9.6 percent win rate.

March 2018 was the seventh straight March that posted a brand new record handle for baseball, as the popularity of gambling on the NCAA men’s baseball competition continues to increase.

Viva Strip

Perhaps the news that is best into the release is the fact that Strip revenues have reversed course after four consecutive monthly declines after the October 1 massacre. Strong baccarat play suggests that site visitors from parts of asia are going back to Las Vegas.

GGR along the Strip reduced from October through January. a primary financial concern was determining just how long Asian visitors, which are critical to the main drag, would stay away.

Caesars CEO Mark Frissora stated in October that ‘people in Asia are extremely 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 tourists 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 percent.

But Frissora being told the mourning period would last up to four months seems accurate, as baccarat play has posted gains that are big February and March (correspondingly 83 percent and 115 percent). To date, GGR on the Strip is up 3.3 percent year.