Seneca Niagara Begins $40 Million Casino Beautification, Still No Payments to Cash-Strapped City
The Seneca country has announced it’ll 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 nyc and communities that are local.
The Seneca Niagara Resort & Casino has announced its big revamp, but meanwhile the standoff between your 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 making payments over a 12 months ago. Under the terms of a 2002 lightweight, they were expected to contribute around $100 million per year to hawaii, 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.
But the tribe stopped payments that are making 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 certain clause within the agreement that said revenue-share payments would continue beyond 2016.
The state has stated there are ‘no legitimacy to these claims,’ plus the tribe’s assertion it can ‘unilaterally end paying the state contribution while continuing to enjoy the benefits associated with compact has no basis in the compact, law or logic.’
Late year that is last New York State declared the Seneca country to be in violation of its compact and delivered a demand for legitimately binding arbitration, which, months later, has yet to get 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 long viewed our Niagara Territory, and this vantage point of Seneca Niagara in particular, as standing during the door that is front Niagara Falls,’ stated Seneca Nation President Todd Gates said in a statement. ‘As many more people visit our resort and discover and rediscover the wonders of Niagara, you 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 battles to compete for an level that is economic its more popular Canadian namesake is scrambling to balance its spending plan 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 receive government assistance.
Mayor Paul Dyster recently announced Niagara Falls had been scaling back projects such as road improvements through not enough 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 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 fence that is first.
The Kansas Senate in Topeka missed a possibility to ‘right the incorrect,’ in the expressed words 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, x1 bet which supporters argue have been therefore punitive that they have killed off the once-thriving thoroughbred and quarter horseracing industry within the state.
But 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.
Despite its race heritage, the amount of racetracks operating today in Kansas is precisely zero. 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.
SB 427 would have slashed the 40 percent cut the racetracks paid to the state when they were operational to 22 percent, in line with the quantity presently paid by Kansas’ four ‘state owned’ casinos.
‘It creates the ability to, what I love to phone, right the incorrect. The incorrect was when the Legislature raised the tax share from 22 % to 40 %,’ 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. She said it would revive a business that ‘really needs our help.’
‘We need to give 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 likely register suit against their state for breach of agreement and demand the reimbursement of millions in revenue-share payments since their establishment in 2008.
There is a breach of agreement. There’s no relevant concern those contracts had been 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 actually don’t understand what we are doing.’
The Kansas casino sector is nominally ‘state-owned’ nevertheless the 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 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 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 danger 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 third consecutive month eclipsing the celebratory threshold.
Fans again packed the Westgate’s International Theater for March Madness, as sportsbooks around the state assisted 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 first three 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 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 out 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 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.
Along with the healthy March gaming report includes revenues from sportsbook operations. And month that is last oddsmakers scored a slam dunk on baseball.
A record $436.5 million had been 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 more than $38 million for the home.
While the $436.5 million handle is really a new high for basketball, oddsmakers actually won eight percent less than in March 2017 when they won over $41.2 million for a 9.6 % rate that is win.
March 2018 was the seventh straight March that posted a new record handle for baseball, as the appeal of gambling on the NCAA men’s basketball competition continues to increase.
Perhaps the news that is best in the launch is the fact that Strip revenues have actually reversed course after four consecutive monthly declines after the October 1 massacre. Strong baccarat play suggests that visitors from Asian countries are going back to Las Vegas.
GGR along the Strip reduced from through January october. a primary concern that is financial determining the length of time Asian visitors, which are critical to the main drag, would stay away.
Caesars CEO Mark Frissora said in October that ‘people in Asia are particularly respectful of the deaths,’ and included regarding a mourning period, ‘I’ve heard it’s sometimes a time 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 arriving December when the table game’s revenues retracted 30 percent.
But Frissora being told the mourning period would endure as much as four months seems accurate, as baccarat play has posted big gains in February and March (correspondingly 83 % and 115 per cent). To date, GGR on the Strip is up 3.3 percent year.