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Seneca Niagara Begins $40 Million Casino Beautification, Still No Payments to Cash-Strapped City
27/03/2020

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 Nation has announced it’s going to begin work on a $40 million makeover of the Seneca Niagara Resort & Casino in the City of Niagara Falls, as it continues to withhold revenue-share payments to the State of New York and communities that are local.

The Seneca Niagara Resort & Casino has announced its big revamp, but meanwhile the standoff involving the Seneca Nation and hawaii 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 anticipated to contribute around $100 million a year to the state, a sum that was then distributed between Albany, Buffalo, Niagara Falls and Salamanca, in change for the tribe’s exclusive right offer casino gaming in those cities.

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 specific clause within the agreement that said revenue-share payments would continue beyond 2016.

Hawaii has said there are ‘no legitimacy to these claims,’ as well as the tribe’s assertion it can ‘unilaterally end paying the continuing state contribution while continuing to enjoy the benefits regarding the compact has no basis in the compact, law or logic.’

Later final 12 months, nyc State declared the Seneca country to be in breach of its compact and delivered an interest in lawfully binding arbitration, which, months later, has yet to have underway.

For the time being, the Senecas are organizing ‘a flowing, landscaped entry boulevard’ to the Niagara Resort & Casino with ‘extensive gardening, sculpture features.’

‘We have long seen our Niagara Territory, and this vantage point of Seneca Niagara in particular, as standing during the entry way to Niagara Falls,’ stated Seneca Nation 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 level with its more popular Canadian namesake is scrambling to balance its budget without the money it once relied on as a host community. The town has high crime rates, while around 60 percent of residents government assistance that is receive.

Mayor Paul Dyster recently announced Niagara Falls was 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 neighborhood radio station WBFO this week that while the Senecas landscape their entry boulevard, the council will have to help make ‘some hard 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 fallen at the fence that is first.

The Kansas Senate in Topeka missed an opportunity to ‘right the wrong,’ in the words of Senator Bruce Givens, whoever bill sought to bring back the state’s extinct horseracing industry. (Image: Kansas Public Radio)

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

But the bill was narrowly defeated in the Senate by 20-17, as opposing lawmakers argued the measure would break agreements that are existing the state and its four casino operators.

Despite its racing heritage, the amount of racetracks 1xbet müziği operating today in Kansas is precisely zero. Its famous venues like Eureka Downs and Anthony Downs are shuttered, or in the case that is latter demolished. Horse breeders and owners are forced to travel 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 %, based on the amount currently paid by Kansas’ four ‘state owned’ casinos.

‘It creates the ability to, just what I love to call, right the wrong. The incorrect was when the Legislature raised the tax share from 22 percent to 40 per cent,’ the bill’s sponsor, Senator Bruce Givens (R-Eldorado), told the Senate, adding that he believed the bill would create 4,000 jobs.

Senate Minority Leader Anthony Hensley (D-Topeka) agreed. She said it would revive a market that ‘really requires our assistance.’

‘We need to give the racetracks a chance that is second’ she stated.

‘Masochistic’ Litigation

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 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 agreements were supposed to be punitive,’ said Sen. Ty Masterson, R-Andover. ‘It’s just like we have a desire that is masochistic protracted litigation. I don’t understand what we are doing.’

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

The bill attempted to deal with 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 would return 1 / 2 of the racetracks’ revenue-share re payments until these people were quits.

But also for Senator Vicki Schmidt (R-Topeka), this had been 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 Casinos Top $1 Billion in March, Sportsbooks Set Basketball Handle Record

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

Fans once again packed the Westgate’s Overseas Theater for March Madness, as sportsbooks around the state aided 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 year that is last the very first 90 days in 2018.

The Strip was mainly 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 time that is first 2008 that Silver State gambling enterprises 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 had been strong, the Las Vegas Convention and Visitors Authority (LVCVA) reported that visitor volume totaled 3.75 million, a nearly one percent drop.

Sportsbooks Prosper

Along with the healthy March video gaming report includes revenues from sportsbook operations. And final month, oddsmakers scored a slam dunk on basketball.

A record $436.5 million had been bet on the sport, the most coming on university’s NCAA March Madness. Sportsbooks reported a win rate of 8.71 percent, meaning hoops generated a lot more than $38 million for the home.

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

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

Viva Strip

Perhaps the best news in the release is that Strip revenues have actually 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, which are critical to your main drag, would remain away.

Caesars CEO Mark Frissora said in October that ‘people in Asia are particularly respectful of the deaths,’ and added regarding a mourning period, ‘I’ve heard it’s sometimes a time period of three, four months.’

Baccarat, the most popular game among travelers from Asian nations, saw win amounts fall in each of the four months, the largest to arrive December when the table game’s revenues retracted 30 %.

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

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