©

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, as 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 burden.

The Senecas stopped making payments over a year ago. Under the terms of a 2002 lightweight, they were expected to contribute around $100 million per year to the state, 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.

However the tribe stopped payments that are making a 12 months 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 said there are ‘no legitimacy to these claims,’ therefore the tribe’s assertion it can ‘unilaterally end paying the continuing state contribution while continuing to enjoy the advantages of the compact has no basis in the compact, law or logic.’

Later year that is last nyc State declared the Seneca Nation become in violation of its compact and delivered an interest in legitimately 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. in the meantime’

‘We have long viewed our Niagara Territory, and this vantage point of Seneca Niagara in particular, as standing during the front http://1xbets-giris.top/ door to Niagara Falls,’ stated Seneca country President Todd Gates said in a statement. ‘As many more people go to our resort and discover and rediscover the wonders of Niagara, we want to make an immediate impression on them.’

Niagara Falls into Disrepair

But the actual City of Niagara Falls a community of around 50,000 people that struggles to compete on an economic degree with its more popular Canadian namesake is scrambling to balance its budget without the cash it once relied on as a host community. The city has high crime rates, while around 60 percent of residents accept government assistance.

Mayor Paul Dyster recently announced Niagara Falls was scaling back jobs 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 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 companies has dropped at the first fence.

The Kansas Senate in Topeka missed a possibility to ‘right the incorrect,’ in the terms of Senator Bruce Givens, whose bill sought to revive the state’s extinct horseracing industry. (Image: Kansas Public Radio)

SB 427 desired to cut income tax rates for racetracks, which supporters argue have already been so punitive that they will have killed off the once-thriving thoroughbred and quarter horseracing industry within the state.

However the bill was narrowly defeated into the Senate by 20-17, as opposing lawmakers argued the measure would violate existing agreements between 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 towards the state when they had been operational to 22 %, based on the quantity presently paid by Kansas’ four ‘state owned’ casinos.

‘It creates the chance to, just what I love to phone, right the wrong. The incorrect 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, adding that the bill was believed by him would produce 4,000 jobs.

Senate Minority Leader Anthony Hensley (D-Topeka) agreed. It was said by her would revive a market that ‘really needs our assistance.’

‘We need to give 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 likely register 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 exists a breach of contract. There’s no concern those agreements were supposed to be punitive,’ said Sen. Ty Masterson, R-Andover. ‘It’s almost like we’ve a masochistic desire for protracted litigation. I 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 reality they are anything but.

The bill attempted to address 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 would return half of the racetracks’ revenue-share payments until they certainly were quits.

But also for Senator Vicki Schmidt (R-Topeka), this was too convoluted and the danger 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 Gambling Enterprises Top $1 Billion in March, Sportsbooks Set Basketball Handle Record

Nevada gambling enterprises collectively won significantly more than $1 billion in March, which marks the industry’s third month that is consecutive the celebratory threshold.

Fans once again stuffed the Westgate’s International Theater for March Madness, as sportsbooks around the continuing state aided Nevada casinos again conquer $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 ahead of where they were this time year that is last the first 90 days 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 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 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 the healthy March gaming report includes revenues from sportsbook operations. And last month, 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 win rate of 8.71 percent, meaning hoops generated a lot more than $38 million for the house.

While the $436.5 million handle is really a new high for baseball, oddsmakers actually won eight percent less than in March 2017 once 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 appeal of gambling on the NCAA men’s basketball tournament continues to increase.

Viva Strip

Perhaps the most useful news in the release is the fact that Strip revenues have reversed course after four consecutive monthly declines following the October 1 massacre. Strong baccarat play implies that visitors from Asian countries are going back to Las Vegas.

GGR along the Strip decreased from through January october. a primary financial concern was 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 are particularly respectful of the deaths,’ and added regarding a mourning period, ‘I’ve heard that it’s sometimes a time period of three, four months.’

Baccarat, the most popular game among travelers from Asian nations, saw win quantities fall in each of the four months, the largest to arrive 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 (correspondingly 83 per cent and 115 %). To date, GGR on the Strip is up 3.3 percent year.

Leave a Reply