Seneca Niagara Begins $40 Million Casino Beautification, Still No Payments to Cash-Strapped City
The Seneca Nation has announced it’ll 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 New York and local communities.
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 burden.
The Senecas stopped making payments over 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 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 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.
Hawaii has stated there are ‘no legitimacy to these claims,’ and also the tribe’s assertion so it can ‘unilaterally end paying the state contribution while continuing to enjoy the huge benefits of the compact has no foundation in the compact, legislation or logic.’
Later final year, ny State declared the Seneca country to be in breach of its compact and delivered an interest in legitimately 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 gardening, sculpture features.’
‘We have very long seen 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 declaration. ‘As many more people check out our resort and discover and rediscover the wonders of Niagara, you want to make an impression that is immediate 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 economic level with 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 had been scaling back jobs 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 into the Senate
A legislative push aimed at rebuilding Kansas’ defunct horse and dog racing companies has fallen at the fence that is first.
The Kansas Senate in Topeka missed a chance to ‘right the incorrect,’ in the expressed terms of Senator Bruce Givens, whose bill sought to revive 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 have killed off the once-thriving thoroughbred and quarter horseracing industry in the state.
Nevertheless the bill was narrowly defeated in the Senate by 20-17, as opposing lawmakers argued the measure would break 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 journey to other states to compete in races.
SB 427 would have slashed the 40 percent slice the racetracks paid to your continuing state when they were operational to 22 %, in line with the amount currently paid by Kansas’ four ‘state owned’ gambling enterprises.
‘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 % to 40 %,’ 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 needs our assistance.’
‘We need to offer the racetracks a 2nd chance,’ she stated.
But opponents cited a 2016 viewpoint from Kansas AG Derek Schmidt warning that the state’s casinos would probably register suit against hawaii for breach of agreement and need the reimbursement of millions in revenue-share re payments since their establishment in 2008.
There is a breach of agreement. There’s no concern those contracts were meant to be punitive,’ said Sen. Ty Masterson, R-Andover. ‘It’s just like we now have a masochistic desire for protracted litigation. I actually don’t understand what we are 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 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 may return half of the racetracks’ revenue-share re payments until they were quits.
But also 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 consecutive month eclipsing the celebratory threshold.
Fans again packed the Westgate’s International Theater for March Madness, as sportsbooks around the state helped Nevada casinos again conquer $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 year that is last 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 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 away that January, February, and March’s $1 billion hauls are the time that is first 2008 that Silver State gambling enterprises have actually surpassed the 10-digit plateau in three consecutive months.
March 2018 benefited from an extra saturday in comparison to the month 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.
Combined with March that is healthy gaming includes revenues from sportsbook operations. And final 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 a lot 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 compared to 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, due to the fact appeal of gambling on the NCAA men’s baseball tournament continues to increase.
Perhaps the news that is best in the launch is the fact that Strip revenues have actually reversed course after four consecutive monthly declines following October 1 massacre. Strong baccarat play suggests that visitors from parts of asia are going back to Las Vegas.
GGR along the Strip decreased from October through January. a main financial concern was determining just how long Asian visitors, which are critical to the main drag, would remain away.
Caesars CEO Mark Frissora said in October that ‘people in Asia are particularly respectful of the deaths,’ and added regarding a mourning period, ‘I’ve heard that it’s sometimes a period of three, four months.’
Baccarat, the most game that is popular people from Asian countries, saw win amounts fall in each of the four months, the largest arriving 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 published gains that are big February and March (respectively 83 % and 115 %). Year to date, GGR on the Strip is up 3.3 percent.