Seneca Niagara Begins $40 Million Casino Beautification, Still No Payments to Cash-Strapped City
The Seneca Nation has announced it’ll begin work on a $40 million makeover of the Seneca Niagara Resort & Casino in the City of Niagara Falls, because 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 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 gambling enterprises are bearing the burden.
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.
Nevertheless 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 particular clause within the agreement that said revenue-share payments would continue beyond 2016.
Their state has stated there are ‘no legitimacy to these claims,’ and also the tribe’s assertion it can ‘unilaterally end paying the continuing state contribution while continuing to enjoy the advantages for the compact has no basis in the compact, law or logic.’
Later year that is last New York State declared the Seneca Nation become in breach of its compact and delivered a demand for legitimately binding arbitration, which, months later, has yet getting underway.
The Senecas are organizing ‘a flowing, landscaped entry boulevard’ to the Niagara Resort & Casino with ‘extensive landscaping, sculpture features. into the meantime’
‘We have long seen our Niagara Territory, and this vantage point of Seneca Niagara in particular, as standing during the front door to Niagara Falls,’ said Seneca Nation President Todd Gates said in a statement. ‘As many more people go to our resort and discover and rediscover the wonders of Niagara, we should make an immediate impression on 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 money it once relied on as a host community. The city has high crime rates, while around 60 percent of residents receive government assistance.
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 regional 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 chance to ‘right the incorrect,’ in the expressed 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 within the state.
But the bill was narrowly defeated within the Senate by 20-17, as opposing lawmakers argued the measure would violate current 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 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 towards the continuing state whenever they had been functional to 22 percent, in line with 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 wrong was when the Legislature raised the tax share from 22 % to 40 %,’ the bill’s sponsor, Senator Bruce Givens (R-Eldorado), told the Senate, including 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 an industry that ‘really requires our assistance.’
‘We need to give the racetracks a chance that is second’ she said.
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 demand the reimbursement of millions in revenue-share re payments since their establishment in 2008.
There’s a breach of contract. There’s no concern those agreements were supposed 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 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 deal with 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 half of the racetracks’ revenue-share re payments until they were quits.
But for Senator Vicki Schmidt (R-Topeka), this ended up being too convoluted and the chance 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 decade that is past.
Nevada Gambling Enterprises Top $1 Billion in March, Sportsbooks Set Basketball Handle Record
Nevada casinos collectively won more than $1 billion in March, which marks the industry’s third month that is consecutive the celebratory threshold.
Fans once again stuffed the Westgate’s Global Theater for March Madness, as sportsbooks around the continuing state helped Nevada casinos again win over $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 ahead of where they were this time last year through the very first three months in 2018.
The Strip was mainly 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 casinos have actually surpassed the 10-digit plateau in three consecutive months.
March 2018 benefited from an extra saturday when compared with 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.
Combined 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 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 the home.
While the $436.5 million handle is really 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 % rate that is win.
March 2018 was the seventh straight March that posted a new record handle for baseball, once the popularity of gambling on the NCAA men’s basketball competition continues to increase.
Perhaps the news that is best in the release is the fact that Strip revenues have reversed course 1xspor after four consecutive monthly declines following a 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 October through January. a main financial concern was determining the length of time Asian visitors, which are critical to the main drag, would stay away.
Caesars CEO Mark Frissora said in that ‘people in Asia are respectful for the deaths,’ and added regarding a mourning period, ‘I’ve heard that it’s sometimes a time period of three, four months. october’
Baccarat, the most popular game among travelers from Asian nations, 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 as much as four months seems accurate, as baccarat play has posted gains that are big February and March (correspondingly 83 percent and 115 percent). Year to date, GGR on the Strip is up 3.3 percent.