Seneca Niagara Begins $40 Million Casino Beautification, Still No Payments to Cash-Strapped City
The Seneca country has announced it will begin work for 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 between the Seneca Nation and their 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. 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 payments over 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 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,’ as well as the tribe’s assertion that it can ‘unilaterally end paying the state share while continuing to enjoy the benefits of the compact has no basis in the compact, law or logic.’
Later year that is last ny State declared the Seneca Nation become in violation of its compact and delivered an interest in lawfully binding arbitration, which, months later, has yet to get 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 very long viewed our Niagara Territory, and this vantage point of Seneca Niagara in particular, as standing during the door that is front Niagara Falls,’ stated Seneca Nation President Todd Gates said in a declaration. ‘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
However the actual City of Niagara Falls a community of around 50,000 people that battles to compete for an economic level 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 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 neighborhood radio station WBFO this week that while the Senecas landscape their entry boulevard, the council will have to produce ‘some difficult 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 industries has dropped at the first fence.
The Kansas Senate in Topeka missed a possibility to ‘right the incorrect,’ in the words of Senator Bruce Givens, whoever bill sought to revive the state’s extinct horseracing industry. (Image: Kansas Public Radio)
SB 427 sought to cut taxation rates for racetracks, which supporters argue have been therefore punitive that they will have killed off the once-thriving thoroughbred and quarter horseracing industry in the state.
Nevertheless the bill was narrowly defeated into the Senate by 20-17, as opposing lawmakers argued the measure would break existing agreements between the state and its four casino operators.
The number of racetracks operating today in Kansas is precisely zero despite 1x bahis its racing heritage. Its famous venues like Eureka Downs and Anthony Downs are shuttered, or in 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 your state when they had been operational to 22 percent, in line with the quantity presently paid by Kansas’ four ‘state owned’ gambling enterprises.
‘It creates the ability to, what I love to phone, 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, incorporating that the bill was believed by him would produce 4,000 jobs.
Senate Minority Leader Anthony Hensley (D-Topeka) agreed. She said it would revive a business that ‘really needs our assistance.’
‘We need to provide the racetracks a second chance,’ she stated.
But opponents cited a 2016 viewpoint from Kansas AG Derek Schmidt warning that the state’s casinos would file suit against likely 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 question those contracts were meant to be punitive,’ said Sen. Ty Masterson, R-Andover. ‘It’s almost like we now have 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 known fact that the casinos would sue the state to protect their interests illustrates the reality they are anything but.
The bill attempted to handle this presssing 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 will return 50 % of the racetracks’ revenue-share re payments until these people were quits.
But for Senator Vicki Schmidt (R-Topeka), this ended up being too convoluted and the risk 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 casinos collectively won a lot more than $1 billion in March, which marks the industry’s third consecutive month eclipsing the celebratory threshold.
Fans again packed the Westgate’s International 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 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 last 12 months through the first 90 days in 2018.
The Strip ended up being 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 down 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 had been strong, the Las Vegas Convention and Visitors Authority (LVCVA) reported that visitor volume totaled 3.75 million, a nearly one percent drop.
Combined with the March that is healthy gaming 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 university’s NCAA March Madness. Sportsbooks reported a win rate of 8.71 percent, meaning hoops generated a lot 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 on a 9.6 percent 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 baseball competition continues to increase.
Perhaps the most useful news within the release is that Strip revenues have 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 through January october. a main financial concern was determining just 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 included regarding a mourning period, ‘I’ve heard it’s sometimes a period of three, four months.’
Baccarat, the most popular game among people 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 endure up to four months seems accurate, as baccarat play has posted gains that are big February and March (respectively 83 percent and 115 percent). To date, GGR on the Strip is up 3.3 percent year.