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 payments to the State of New York and local communities.
The Seneca Niagara Resort & Casino has announced its big revamp, but meanwhile the standoff between your Seneca Nation and the State of New York shows no signs of progress, and the communities that host the tribe’s gambling enterprises are bearing the responsibility.
The Senecas stopped making payments over a 12 months ago. Under the terms of a 2002 lightweight, they had been expected to contribute around $100 million per year to the state, a sum that was then distributed between Albany, Buffalo http://1xbets-giris.top/, Niagara Falls and Salamanca, in change for the tribe’s exclusive right offer casino gaming in those cities.
Nevertheless the tribe stopped payments that are making a 12 months ago. The 2002 contract 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 specific clause within the agreement that said revenue-share payments would continue beyond 2016.
Their state has said here are ‘no legitimacy to these claims,’ as well as the tribe’s assertion it can ‘unilaterally end paying the continuing state share while continuing to enjoy the advantages associated with the compact has no basis in the compact, law or logic.’
Late year that is last ny State declared the Seneca country to be in breach of its compact and delivered a demand for legally 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. within the meantime’
‘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 Nation President Todd Gates said in a statement. ‘As many more people see 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 financial degree with its more popular Canadian namesake is scrambling to balance its budget without the funds it once relied on as a host community. The town has high crime rates, while around 60 percent of residents receive government assistance.
Mayor Paul Dyster recently announced Niagara Falls had been 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 local radio station WBFO this week that while the Senecas landscape their entry boulevard, the council will have to produce ‘some hard 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 industries has fallen at the first fence.
The Kansas Senate in Topeka missed a possibility to ‘right the incorrect,’ in the expressed terms of Senator Bruce Givens, whose bill sought to bring back the state’s extinct horseracing industry. (Image: Kansas Public Radio)
SB 427 sought to cut taxation rates for racetracks, which supporters argue have already been therefore punitive that they’ve killed off the once-thriving thoroughbred and quarter horseracing industry into the state.
But the bill was narrowly defeated within the Senate by 20-17, as opposing lawmakers argued the measure would violate current agreements between 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 within the second 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 slice the racetracks paid to the continuing state when they had been operational to 22 %, on the basis of the amount presently paid by Kansas’ four ‘state owned’ gambling enterprises.
‘It creates the opportunity to, exactly what I love to phone, right the wrong. The incorrect was when the Legislature raised the tax share from 22 % to 40 percent,’ the bill’s sponsor, Senator Bruce Givens (R-Eldorado), told the Senate, including that he believed the bill would create 4,000 jobs.
Senate Minority Leader Anthony Hensley (D-Topeka) consented. It was said by her would revive an industry that ‘really requires our assistance.’
‘We need to give the racetracks a chance that is second’ she stated.
But opponents cited a 2016 viewpoint from Kansas AG Derek Schmidt warning that the state’s casinos would file suit against likely hawaii for breach of agreement and demand the reimbursement of millions in revenue-share re payments since their establishment in 2008.
There is a breach of contract. There’s no relevant question those contracts had been supposed to be punitive,’ said Sen. Ty Masterson, R-Andover. ‘It’s almost like we’ve a masochistic desire for protracted litigation. I really don’t understand what we are doing.’
The Kansas casino sector is nominally ‘state-owned’ nevertheless the known proven fact that the casinos would sue the state to protect their interests illustrates the reality they are anything but.
The bill attempted to address this issue 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 may return 50 % of the racetracks’ revenue-share 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 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 Casinos Top $1 Billion in March, Sportsbooks Set Basketball Handle Record
Nevada casinos collectively won a lot 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 Global Theater for March Madness, as sportsbooks around the 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 in front of where they were this time last 12 months through the first three months in 2018.
The Strip ended up being 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 away 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 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.
Along with the healthy March video 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 your house.
While the $436.5 million handle is just a new high for baseball, oddsmakers actually won eight percent less compared to March 2017 if 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, once the popularity of gambling on the NCAA men’s basketball competition continues to increase.
Perhaps the most useful news into the launch is the fact that 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 time for Las Vegas.
GGR along the Strip reduced from October through January. a primary financial concern was 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 have become 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 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 endure as much as 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.