27
Mar

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

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, since it continues to withhold revenue-share payments to the State of nyc 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 responsibility.

The Senecas stopped making payments over 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.

Nevertheless the tribe stopped making repayments over a year ago. The 2002 agreement expired in 2016, but it ended up being 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.

Hawaii has stated there are ‘no legitimacy to these claims,’ plus the tribe’s assertion it can ‘unilaterally end paying the state share while continuing to enjoy the benefits of this compact has no basis in the compact, legislation or logic.’

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

In the meantime, the Senecas are planning ‘a flowing, landscaped entry boulevard’ to the Niagara Resort & Casino with ‘extensive landscaping, sculpture features.’

‘We have very long viewed our Niagara Territory, and this vantage point of Seneca Niagara in particular, as standing at the door that is front Niagara Falls,’ stated 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 want to make an immediate impression on them.’

Niagara Falls into Disrepair

Nevertheless 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 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 projects such as road improvements through lack of funds and wouldn’t rule out raising fees.

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 create ‘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 fallen at the first fence.

The Kansas Senate in Topeka missed an opportunity to ‘right the incorrect,’ in the words of Senator Bruce Givens, whose bill sought to revive 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 have killed off the once-thriving thoroughbred and quarter horseracing industry into the state.

But 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.

Despite its racing 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 second 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 state when they had been operational to 22 %, on the basis of the amount presently paid by Kansas’ four ‘state owned’ casinos.

‘It creates the opportunity to, just what I like to phone, right the incorrect. The wrong 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, adding that he believed the bill would produce 4,000 jobs.

Senate Minority Leader Anthony Hensley (D-Topeka) agreed. She said it would revive an industry that ‘really requires our help.’

‘We need to offer the racetracks a chance that is second’ she said.

‘Masochistic’ Litigation

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

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

The Kansas casino sector is nominally ‘state-owned’ but 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 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 half 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 understand why the Senate would gamble on undermining a 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 more than $1 billion in March, which marks the industry’s third consecutive month eclipsing the celebratory threshold.

Fans again packed the Westgate’s Overseas Theater for March Madness, as sportsbooks around the state assisted Nevada casinos again win over $1 billion. (Image: Chase Stevens/Las Vegas Review-Journal)

Statewide, gross gaming revenue (GGR) totaled $1.024 1xbetgiriş 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 had been chiefly responsible for the revenue surge, as GGR came in 9.1 percent higher at nearly $574 million. Baccarat was the force that is driving 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 out that January, February, and March’s $1 billion hauls are the first time since 2008 that Silver State casinos 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 was 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 healthier March gaming report includes revenues from sportsbook operations. And final 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 significantly more than $38 million for the house.

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

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

Viva Strip

Perhaps the news that is best into the release is that Strip revenues have reversed course after four consecutive monthly declines following October 1 massacre. Strong baccarat play suggests that site visitors from Asian countries are returning to Las Vegas.

GGR along the Strip decreased from through January october. a primary financial concern was determining how long Asian visitors, that are critical to your main drag, would stay away.

Caesars CEO Mark Frissora stated in that ‘people in Asia are very respectful of the deaths,’ and included regarding a mourning period, ‘I’ve heard that it is sometimes a time period of three, four months. october’

Baccarat, the most game that is popular travelers from Asian nations, saw win amounts fall in each of the four months, the largest arriving December when the table game’s revenues retracted 30 percent.

But Frissora being told the mourning period would last as much as four months seems accurate, as baccarat play has posted gains that are big February and March (respectively 83 per cent and 115 percent). Year to date, GGR in the Strip is up 3.3 percent.