Seneca Niagara Begins $40 Million Casino Beautification, Still No Payments to Cash-Strapped City
The Seneca Nation 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 New York and local communities.
The Seneca Niagara Resort & Casino has announced its big revamp, but meanwhile the standoff between the Seneca Nation and hawaii 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.
However the tribe stopped making repayments over 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 clause that is specific the agreement that said revenue-share payments would continue beyond 2016.
The state has said here are ‘no legitimacy to these claims,’ plus the tribe’s assertion that it can ‘unilaterally end paying the continuing state contribution while continuing to enjoy the advantages regarding the compact has no foundation in the compact, legislation or logic.’
Late year that is last nyc State declared the Seneca Nation become in breach of its compact and delivered an interest in legitimately binding arbitration, which, months later, has yet getting underway.
In the meantime, the Senecas are organizing ‘a flowing, landscaped entry boulevard’ to the Niagara Resort & Casino with ‘extensive gardening, sculpture features.’
‘We have very long seen our Niagara Territory, and this vantage point of Seneca Niagara in particular, as standing at the entry way to Niagara Falls,’ stated 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 for an level that is economic 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 government assistance that is receive.
Mayor Paul Dyster recently announced Niagara Falls was scaling back tasks such as road improvements through lack of funds and wouldn’t rule out raising fees.
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 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 dropped 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 regenerate the state’s extinct horseracing industry. (Image: Kansas Public Radio)
SB 427 sought to cut tax rates for racetracks, which supporters argue have been so 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 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 in the http://1xbets-giris.top/ case that is latter demolished. Horse breeders and owners are forced to journey to other states to compete in races.
SB 427 would have slashed the 40 percent cut the racetracks paid to your continuing state whenever they were operational to 22 %, based on the amount presently paid by Kansas’ four ‘state owned’ casinos.
‘It creates the chance to, exactly what I love to call, right the wrong. The wrong 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, adding 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 a market that ‘really requires our help.’
‘We need to give the racetracks a second chance,’ she said.
But opponents cited a 2016 viewpoint from Kansas AG Derek Schmidt warning that the state’s casinos would file suit against likely the state for breach of agreement and need the reimbursement of millions in revenue-share re payments since their establishment in 2008.
There exists a breach of agreement. There’s no question those contracts were supposed to be punitive,’ said Sen. Ty Masterson, R-Andover. ‘It’s just like we now have a desire that is masochistic protracted litigation. I don’t understand what we’re doing.’
The Kansas casino sector is nominally ‘state-owned’ however the proven fact that the casinos would sue the state to protect their interests illustrates the reality which they are anything but.
The bill attempted to address this presssing issue by allowing racetrack owners to submit a letter of credit promising to settle the casinos. Racetrack owners would then be refunded by the state, which would return 50 % 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 risk 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 again packed the Westgate’s International Theater for March Madness, as sportsbooks around the state helped Nevada casinos again make an impression on $1 billion. (Image: Chase Stevens/Las Vegas Review-Journal)
Statewide, gross 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 almost $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 first time since 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 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.
Along with the March that is healthy gaming 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 college’s NCAA March Madness. Sportsbooks reported a rate that is win of percent, meaning hoops generated more than $38 million for your house.
While the $436.5 million handle is a new high for baseball, oddsmakers actually won eight percent less compared to March 2017 when 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, since the appeal of gambling on the NCAA men’s baseball competition continues to increase.
Perhaps the most readily useful news within the launch is that Strip revenues have reversed course after four consecutive monthly declines following October 1 massacre. Strong baccarat play shows that site visitors from parts of asia are going back to Las Vegas.
GGR along the Strip decreased from October through January. a main concern that is financial determining the length of time Asian visitors, which are critical to your main drag, would stay away.
Caesars CEO Mark Frissora said in October that ‘people in Asia are very respectful of the deaths,’ and included regarding a mourning period, ‘I’ve heard that 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 published gains that are big February and March (correspondingly 83 % and 115 percent). To date, GGR on the Strip is up 3.3 percent year.