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 country has announced it will 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 re 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 your 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 making payments over a year 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.

Nevertheless the tribe stopped payments that are making a 12 months 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 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.

Hawaii has said there are ‘no legitimacy to these claims,’ therefore the tribe’s assertion so it can ‘unilaterally end paying the state share while continuing to enjoy the advantages of this compact has no basis in the compact, law or logic.’

Later year that is last New York State declared the Seneca country to be in breach of its compact and delivered an interest in legally binding arbitration, which, months later, has yet to get underway.

The Senecas are planning ‘a flowing, landscaped entry boulevard’ to the Niagara Resort & Casino with ‘extensive landscaping, sculpture features. within the meantime’

‘We have long viewed our Niagara Territory, and this vantage point of Seneca Niagara in particular, as standing at the door that is front Niagara Falls,’ said Seneca Nation President Todd Gates said in a statement. ‘As many more people visit 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 economic level with 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 enjoy government assistance.

Mayor Paul Dyster recently announced Niagara Falls had been scaling back tasks such as road improvements through lack of 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 in order to make ‘some difficult decisions’ this budget season.

Kansas Horse Racing Revival Bill Dies within 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 an opportunity to ‘right the incorrect,’ in the terms of Senator Bruce Givens, whoever bill sought to revive the state’s extinct horseracing industry. (Image: Kansas Public Radio)

SB 427 sought to cut tax rates for racetracks, which supporters argue have been therefore punitive that they will have killed off the once-thriving thoroughbred and quarter horseracing industry into the state.

However the bill was narrowly 1xbet indir 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.

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 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 your continuing state whenever they were functional to 22 %, based on the amount currently paid by Kansas’ four ‘state owned’ casinos.

‘It creates the chance to, just what I love to call, right the incorrect. The incorrect 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 he believed the bill would create 4,000 jobs.

Senate Minority Leader Anthony Hensley (D-Topeka) agreed. It was said by her would revive an industry that ‘really requires our assistance.’

‘We need to provide the racetracks a second chance,’ she said.

‘Masochistic’ Litigation

But opponents cited a 2016 opinion from Kansas AG Derek Schmidt warning that the state’s casinos would likely file suit against the state for breach of agreement and demand the reimbursement of millions in revenue-share re payments since their establishment in 2008.

There’s a breach of agreement. There’s no concern those agreements had been supposed 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 are doing.’

The Kansas casino sector is nominally ‘state-owned’ nevertheless the known undeniable fact that the casinos would sue the state to protect their passions illustrates the truth which 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 be refunded by then the state, which would return 50 % of the racetracks’ revenue-share payments until they certainly were quits.

But for Senator Vicki Schmidt (R-Topeka), this ended up being 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 again stuffed the Westgate’s Global Theater for March Madness, as sportsbooks around the state aided Nevada casinos again conquer $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 first 3 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 driving force, 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 time that is first 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 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

Combined with healthy March gaming report includes revenues from sportsbook operations. And last 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 more than $38 million for the home.

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

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

Viva Strip

Perhaps the news that is best into the launch is 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 through January october. a main financial concern was determining just how long Asian visitors, that are critical to the main drag, would stay away.

Caesars CEO Mark Frissora stated in October that ‘people in Asia are respectful of the deaths,’ and included 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 people from Asian countries, saw win quantities fall in each of the four months, the largest coming in December when the table game’s revenues retracted 30 %.

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 (correspondingly 83 per cent and 115 per cent). Year to date, GGR on the Strip is up 3.3 percent.

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