Brand New York Southern Tier Gets Another Look from Casino Licensing Board today
Brand New York Governor Andrew Cuomo urged a state board to reconsider a Southern Tier casino, but the board’s chairman states the decision that is final not be impacted by the Empire State’s frontrunner.
The New York Southern Tier is waiting on pins and needles for the outcomes of a casino licensing conference with the State Gaming Facility Location Board tonight.
Tonight’s meeting shall see the Board pay attention to reopening the putting in a bid procedure for a resort in the Southern Tier.
That section of the state has been lobbying everyone up through ny Governor Andrew Cuomo in a effort to make its case that the area, located near the Pennsylvania border, is deserving of the fourth and final license reserved for upstate New York.
Even the undeniable fact that the Southern Tier is still in the game is really a little bit of a success for local politicians and residents. The area was partnered with the Finger Lakes as a solitary region in the casino putting in a bid process, and between the two, were just guaranteed a single license. That one ultimately went to the Lago Resort and Casino, a Finger Lakes proposal that was larger compared to the bids being released of the Southern Tier.
But people in the region felt that they’d been passed over in the casino procedure, when in the same time they had been denied licensing, a hydraulic fracturing (or ‘fracking) ban was put into invest their state, which could leave the Southern Tier in dire economic straits. That led to appeals to the state Gaming Commission and Governor Cuomo to provide the area another chance.
New Meeting Could Open Bidding for Fourth License
That led Cuomo to attract the Gaming Facility Location Board, which in turn decided to hold a gathering on Tuesday night in new york to think about reopening the bidding in the Southern Tier.
Because the board originally only recommended three casinos for upstate New York, there was still a fourth license that could potentially be awarded. While that license was originally up for grabs in all three upstate regions, however, the board will only be considering offering it to the tier that is southern this meeting.
It doesn’t sit well with many lawmakers along with other observers throughout the state. Some genuinely believe that other areas of New York should also provide the ability to bid for that fourth license ladbrokes live casino app if it becomes available, while others question how much influence Governor Cuomo has in the casino procedure.
Hudson Valley Officials Want a Shot
At one point within the bidding procedure, it seemed likely that the fourth casino would wind up in the Catskills/Hudson Valley region, which was the most lucrative area and saw the many interest from major casino firms. Given its proximity to New York City and the fact that regional competition could be tough there, Orange County Executive Steve Neuhaus thinks that the region is a part of any conversation over the final casino license.
‘Given the possibility that is distinct casino gambling in nj-new jersey could expand outside of its current Atlantic City location, such as the Meadowlands, it makes sense for New York jobs and income that the most effective areas in southern New York be included in this discussion,’ read a statement from Neuhaus.
Cuomo’s Influence Questioned
There are also concerns that Cuomo, who pledged allowing the board to the office independently, has had too much influence in the licensing process.
‘Every time he says one thing, he does the contrary when it willn’t turn out the way he wants it to turn out,’ said Assemblyman James Tedisco (R-Schenectady). ‘If you’re going to say something is separate, keep it independent.’
But members of the facility location board state they’ve been able to act individually, without any stress from the governor’s office, and that the decision in the Southern Tier comes from them, not from Cuomo.
Washington State Gets its Online Poker that is own Bill
Washington State’s current on-line poker laws are draconian, which has prompted the push for legislative change. (Image: livingmylifeaway.wordpress.com)
A Washington State online poker bill has arrived unexpectedly at the opening associated with state’s new session that is legislative week.
The bill to legalize and regulate poker that is online known as HB 1114, is sponsored by Representative Sherry Appleton (D), and comes as a complete shock to industry observers.
While all eyes have been in the ongoing legislative efforts in Ca, and the debate that is occasional Pennsylvania concerning the possibility of regulation, Washington’s bill ambushed us without warning.
The very fact that Washington State could be the only state associated with the Union in which the actual act of playing online poker is unlawful makes the news headlines even surprising.
Lawmakers managed to get a course C felony in 2006, with Section 9.46.240 of this state’s gambling legislation declaring that anyone who ‘knowingly transmits or receives gambling information by phone, telegraph, radio, semaphore, the Web, a telecommunications transmission system, or means that are similar is violating the law.
This means that, theoretically at least, playing online poker could land you a jail sentence of up to five years and a $10,000 fine.
Even Utah, where all kinds of gambling are strictly illegal, including lotteries, does perhaps not get quite this far, although we should point out that no body in Washington State has ever been prosecuted for the work of playing online poker.
Washington Web Poker Initiative
It is perhaps the draconian nature of part 9.46.240 that has driven the push for legislative change in this relatively liberal state.
Certainly, the main crux associated with the new bill is that prohibition doesn’t work, and neither does it adequately protect residents regarding the state, lots of whom continue to play internet poker illegally in unregulated offshore markets.
This can be the message that is crusading of Woodward, of the Washington Internet Poker Initiative, whose tireless efforts in opposing prohibition have helped make the proposed legislation a truth.
‘It did actually me that Washington State had just been written off online that is regarding, which I came across unsettling to say the minimum. Someone had to step up and raise the issue or we will be a forgotten corner that is little the Northwest,’ Woodward told PokerNews this week. ‘I had reached out to every single legislative candidate prior to the 2014 elections.
Representative Appleton is a cosponsor on a few attempts to reduce or eliminate the penalty that is criminal players, and she was initially receptive of the idea and was one of a handful of legislators I centered on. I got in touch along with her again after the election, and she readily took on the bill for people.’
A Blueprint for future years
The bill itself believes that many of the legislative details should be fleshed out by the Gaming Commission and so will not propose an amount of taxation, nor does it make no mention of bad actors.
It can, however, recommend that there must be two levels of licensing, one for system operators and one for consumer-facing online poker rooms, and it would also leave the door open for interstate pool sharing, during the governor’s discretion.
Moreover, there is also a hope that the bill may one day serve as a blueprint for other states looking to legalize poker that is online the long term.
‘ Having the top operators serve as systems, with local skins competing for players, creates the maximum possibility for wide participation, without splintering player liquidity. The greater amount of interests that are local to participate, the fewer opponents there will be among them,’ said Woodward.
Caesars Entertainment Goes for Bankrupt, While Creditors Decry Restructuring Plan
Caesars Palace is run by Caesars Entertainment Operating Company, Inc., which has filed for Chapter 11 bankruptcy. However, all Caesars properties will remain open during the procedure, states CEO Gary Loveman. (Image: lasvegas.se).
Caesars Entertainment Corp. (CEC) announced the filing of voluntary Chapter 11 bankruptcy this week for its operating that is main unit Caesars Entertainment Operating Company Inc. (CEOC).
The move was a bid to alleviate some of its astronomical $23 billion debtload, the majority of which will be held by the unit. CEOC listed around $12.4 billion in assets and $19.9 billion in liabilities in Chapter 11 documents on Thursday.
The subsidiary as well as its affiliates employ about 32,000 people throughout the United States and run 44 resort and gaming properties in 13 states, since well as in five other countries, including the flagship Caesars Palace in Las Vegas.
However the core message from the parent business is that its ‘business as always’ for many of its gambling enterprises.
‘The properties across the entire Caesars Entertainment network are open and will run without interruption throughout CEOC’s reorganization process,’ stated Gary Loveman, the CEO of CEC and chairman of CEOC, within an formal statement on Thursday.
‘Our guests will stay to make benefits through the Total benefits loyalty program, and we remains entirely concentrated on delivering the same service that is outstanding unforgettable entertainment experiences guests came to expect from Caesars Entertainment. Moving forward, we are going to continue to build up and deliver new, revolutionary hospitality experiences to our visitors.’
We Come to Bury Caesars…
But Caesars is not away from the woods yet, it has worked out with its major creditors of unjustly protecting the company’s interests at the expense of their own as it faces a revolt from its lower-level creditors, who accuse the debt restructuring plan.
While CEOC files for bankruptcy in Chicago, this group of lower-level creditors will take a federal court in Delaware trying to call a temporary halt to the Chicago case and to stop the restructuring plan from going through as drafted. The move this week follows months of negotiation and litigation between Caesars as well as its bondholders.
Caesars countered that these creditors are trying ‘to wreak havoc on the process that is orderly debtors, their professionals, and the many consenting stakeholders have been preparing for months.’
Good Caesars / Bad Caesars
Caesars acquired nearly all of its debt when it went private in 2008, following a $30.1 billion takeover by Apollo worldwide Management and TPG Capital, simply round the start of the global downturn that is economic.
The group, with its 50 casinos across the US, suffered as the recession hit the land-based casino industry in America.
Caesars has lost money every since 2009, and has struggled to pay the interest on its enormous debt year. It recently posted 2014 Q3 losses of $908.1 million and month that is last on a $225 million payment.
‘We believe this restructuring is within the best interests of CEOC’s stakeholders and will result in a sustainable capital structure for CEOC and value creation for several stakeholders,’ said Loveman.
‘The restructuring of CEOC may be the culmination of an effort that is years-long improve the wellness of CEOC’s stability sheet, which has included significant investment in new and upgraded assets, especially in Las Vegas. I am very confident later on prospects of our enterprise, which will combine an improved money structure with a system of lucrative properties.’
However, Caesars’ disgruntled creditors have accused Apollo and TPG of attempting to create a ‘good Caesars,’ that will have its famous and properties that are valuable and a ‘bad Caesars’ to put on your debt.
Jaime Costa 