Seneca Niagara Begins $40 Million Casino Beautification, Still No Payments to Cash-Strapped City
The Seneca Nation has announced it will 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 nyc and communities that are local.
The Seneca Niagara Resort & Casino has announced its big revamp, but meanwhile the standoff between the Seneca Nation and the State of New York shows no signs of progress, and the communities that host the tribe’s casinos are bearing the responsibility.
The Senecas stopped payments that are making a 12 months ago. Under the terms of a 2002 lightweight, they were expected to contribute around $100 million per year to the state, a sum that had been then distributed between Albany, Buffalo, Niagara Falls and Salamanca, in change for the tribe’s exclusive right offer casino gaming in those cities.
But the tribe stopped making repayments over a 12 months ago. The 2002 contract 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 stated there are ‘no legitimacy to these claims,’ 1xbet bookmaker therefore the tribe’s assertion so it can ‘unilaterally end paying the state share while continuing to enjoy the benefits associated with the compact has no foundation in the compact, legislation or logic.’
Later final year, New York State declared the Seneca Nation become in breach of its compact and delivered an interest in legally binding arbitration, which, months later, has yet to have underway.
In the meantime, the Senecas are organizing ‘a flowing, landscaped entry boulevard’ to the Niagara Resort & Casino with ‘extensive landscaping, sculpture features.’
‘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 country President Todd Gates said in a declaration. ‘As many more people go to our resort and discover and rediscover the wonders of Niagara, we should make an impression that is immediate them.’
Niagara Falls into Disrepair
Nevertheless 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 budget without the cash 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 projects such as road improvements through lack of funds and wouldn’t rule out taxes that are raising.
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 to help make ‘some hard decisions’ this budget season.
Kansas Horse Racing Revival Bill Dies into 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 an opportunity to ‘right the wrong,’ in the words of Senator Bruce Givens, whose bill sought to bring back the state’s extinct horseracing industry. (Image: Kansas Public Radio)
SB 427 desired to cut income tax rates for racetracks, which supporters argue have been so punitive that they will have killed off the once-thriving thoroughbred and quarter horseracing industry in the state.
However the bill was narrowly defeated in the Senate by 20-17, as opposing lawmakers argued the measure would violate agreements that are existing the state and its four casino operators.
Despite its race heritage, the number of racetracks operating today in Kansas is precisely zero. Its famous venues like Eureka Downs and Anthony Downs are shuttered, or within the case that is latter demolished. Horse breeders and owners are forced to travel to other states to compete in races.
SB 427 would have slashed the 40 percent slice the racetracks paid to your state whenever they had been operational to 22 %, in line with the quantity currently paid by Kansas’ four ‘state owned’ casinos.
‘It creates the ability to, exactly what I like to call, right the wrong. The wrong was when the Legislature raised the tax share from 22 percent to 40 percent,’ the bill’s sponsor, Senator Bruce Givens (R-Eldorado), told the Senate, adding that he believed the bill would produce 4,000 jobs.
Senate Minority Leader Anthony Hensley (D-Topeka) agreed. She said it would revive a business that ‘really requires our assistance.’
‘We need to offer the racetracks a 2nd chance,’ she said.
But opponents cited a 2016 opinion from Kansas AG Derek Schmidt warning that the state’s casinos would probably register suit against hawaii for breach of contract 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 relevant question those contracts were meant 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’re doing.’
The Kansas casino sector is nominally ‘state-owned’ however 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 problem by allowing racetrack owners to submit a letter of credit promising to repay the casinos. Racetrack owners would then be refunded by the state, which may return 1 / 2 of the racetracks’ revenue-share payments until these were quits.
But for Senator Vicki Schmidt (R-Topeka), this had been too convoluted and the chance 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 gambling enterprises collectively won significantly more than $1 billion in March, which marks the industry’s 3rd month that is consecutive the celebratory threshold.
Fans once again packed the Westgate’s International Theater for March Madness, as sportsbooks around the continuing state aided Nevada casinos again win over $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 mainly responsible for the revenue surge, as GGR came in 9.1 percent higher at almost $574 million. Baccarat was the driving force, 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 down that January, February, and March’s $1 billion hauls are the first time since 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 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 March that is healthy gaming includes revenues from sportsbook operations. And last month, oddsmakers scored a slam dunk on baseball.
A record $436.5 million was bet on the sport, the most coming on university’s NCAA March Madness. Sportsbooks reported a rate that is win of percent, meaning hoops generated more than $38 million for the house.
While the $436.5 million handle is just a new high for basketball, oddsmakers actually won eight percent less than in March 2017 if they won over $41.2 million for a 9.6 percent win rate.
March 2018 was the seventh straight March that posted a record that is new for baseball, because the appeal of gambling on the NCAA men’s basketball tournament continues to increase.
Perhaps the news that is best into the release is that Strip revenues have actually 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 reduced from October through January. a main concern that is financial determining just how long Asian visitors, which are critical to the main drag, would remain away.
Caesars CEO Mark Frissora said in that ‘people in Asia are particularly respectful associated with the deaths,’ and added regarding a mourning duration, ‘I’ve heard that it is sometimes a period of three, four months. october’
Baccarat, the most popular game among tourists from Asian countries, saw win amounts 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 (respectively 83 per cent and 115 percent). Year to date, GGR on the Strip is up 3.3 percent.