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 for a $40 million makeover of the Seneca Niagara Resort & Casino in the town of Niagara Falls, since it continues to withhold revenue-share payments to the State of ny and communities that are local.
The Seneca Niagara Resort & Casino has announced its revamp that is big meanwhile the standoff between the Seneca Nation and their state of New York shows no signs of progress, and the communities that host the tribe’s gambling enterprises are bearing the duty.
The Senecas stopped payments that are making a year ago. Under the terms of a 2002 compact, they had been expected to contribute around $100 million a year to their state, a sum that had been then distributed between Albany, Buffalo, Niagara Falls and Salamanca, in exchange for the tribe’s exclusive right offer casino gaming in those cities.
However the tribe stopped payments that are making a 12 months 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 stated here are ‘no legitimacy to these claims,’ and also the tribe’s assertion that it can ‘unilaterally end paying the state contribution while continuing to enjoy the huge benefits associated with compact has no basis in the compact, law or logic.’
Late last 12 months, New York State declared the Seneca country become in violation of its compact and delivered a demand for lawfully binding arbitration, which, months later, has yet to have underway.
In the meantime, the Senecas are planning ‘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 during the front door to Niagara Falls,’ stated Seneca country President Todd Gates said in a statement. ‘As many more people visit our resort and discover and rediscover the wonders of Niagara, we should make an immediate impression on them.’
Niagara Falls into Disrepair
However the actual City of Niagara Falls a community of around 50,000 people that battles to compete on an level that is economic its more popular Canadian namesake is scrambling to balance its spending plan without the money it once relied on as a host community. The city 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 raising taxes.
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 into the Senate
A legislative push aimed at rebuilding Kansas’ defunct horse and dog racing companies has fallen at the first fence.
The Kansas Senate in Topeka missed a possibility 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 income tax rates for racetracks, which supporters argue have been therefore punitive that they’ve killed off the once-thriving thoroughbred and quarter horseracing industry in the state.
But the bill was narrowly defeated into 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 number of racetracks operating today in Kansas is precisely zero. Its famous venues like Eureka Downs and Anthony Downs are shuttered, or into the second case, 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 per cent, on the basis of the quantity currently paid by Kansas’ four ‘state owned’ gambling enterprises.
‘It creates the chance to, exactly what I love to call, 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, incorporating that the bill was believed by him would produce 4,000 jobs.
Senate Minority Leader Anthony Hensley (D-Topeka) agreed. It was said by her would revive a market that ‘really needs our help.’
‘We need to offer the racetracks a chance that is second’ she said.
But opponents cited a 2016 opinion from Kansas AG Derek Schmidt warning that the state’s casinos would probably register suit against their state for breach of contract and need the reimbursement of millions in revenue-share re payments since their establishment in 2008.
There exists a breach of contract. There’s no relevant question those agreements had been meant to be punitive,’ said Sen. Ty Masterson, R-Andover. ‘It’s almost like we’ve a masochistic desire for protracted litigation. I actually don’t understand what we’re doing.’
The Kansas casino sector is nominally ‘state-owned’ but the undeniable fact that the casinos would sue the state to protect their passions illustrates the reality that they are anything but.
The bill attempted to handle this presssing issue by allowing racetrack owners to submit a letter of credit promising to repay the casinos. Racetrack owners would be refunded by then the state, which will return half of the racetracks’ revenue-share payments until these were quits.
However for Senator Vicki Schmidt (R-Topeka), this had been too convoluted and the danger too high. She demanded to learn why the Senate would gamble on undermining a casino sector that had paid $513 million to state coffers over the past decade.
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 3rd month that is consecutive the celebratory threshold.
Fans once again stuffed the Westgate’s Overseas Theater for March Madness, as sportsbooks around the continuing 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 year through the first 3 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 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 http://1xbets-giris.top/ $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 casinos have 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 video gaming report includes revenues from sportsbook operations. And month that is last 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 more than $38 million for the house.
While the $436.5 million handle is a new high for baseball, oddsmakers actually won eight percent less than in March 2017 once they won over $41.2 million on a 9.6 % win rate.
March 2018 was the seventh straight March that posted a new record handle for baseball, once the appeal of gambling on the NCAA men’s baseball competition continues to increase.
Perhaps the most useful news into the release is the fact that Strip revenues have reversed course after four consecutive monthly declines following the October 1 massacre. Strong baccarat play implies that visitors from Asian countries are time for Las Vegas.
GGR along the Strip decreased from October through January. a primary financial concern was determining just how long Asian visitors, which are critical to the main drag, would stay away.
Caesars CEO Mark Frissora stated in October that ‘people in Asia are very respectful of the deaths,’ and added regarding a mourning period, ‘I’ve heard so it’s sometimes a time period of three, four months.’
Baccarat, the most game that is popular 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 big gains in February and March (correspondingly 83 % and 115 %). To date, GGR on the Strip is up 3.3 percent year.