Seneca Niagara Begins $40 Million Casino Beautification, Still No Payments to Cash-Strapped City
The Seneca Nation has announced it will begin work for a $40 million makeover of the Seneca Niagara Resort & Casino in the town of Niagara Falls, because it continues to withhold revenue-share re payments to the State of ny and communities that are local.
The Seneca Niagara Resort & Casino has announced its revamp that is big meanwhile the standoff between the Seneca Nation and hawaii of New York shows no signs of progress, and the communities that host the tribe’s casinos are bearing the duty.
The Senecas stopped making payments over a year ago. Under the terms of a 2002 lightweight, they were expected to contribute around $100 million per year to hawaii, a sum that ended up being then distributed between Albany, Buffalo, Niagara Falls and Salamanca, in trade for the tribe’s exclusive right offer casino gaming in those cities.
But the tribe stopped payments that are making a year 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,’ and also the tribe’s assertion it can ‘unilaterally end paying the state contribution while continuing to enjoy the huge benefits associated with compact has no foundation in the compact, legislation or logic.’
Late final 12 months, ny State declared the Seneca Nation to be in violation of its compact and delivered a demand for legally binding arbitration, which, months later, has yet getting underway.
For the time being, the Senecas are planning ‘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 entry way to Niagara Falls,’ said Seneca country President Todd Gates said in a declaration. ‘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 financial degree 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 receive government assistance.
Mayor Paul Dyster recently announced Niagara Falls had been scaling back tasks such as road improvements through not enough funds and wouldn’t rule out raising fees.
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 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 fence that is first.
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 desired 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.
But the bill was narrowly defeated into 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 within the case that is latter demolished. Horse breeders and owners are forced to travel to other states to compete in races.
SB 427 would have slashed the 40 percent slice the racetracks paid towards the continuing state when they were operational to 22 percent, in line with the amount currently paid by Kansas’ four ‘state owned’ gambling enterprises.
‘It creates the opportunity to, what I like to phone, right the wrong. The incorrect was when the Legislature raised the tax share from 22 % to 40 per cent,’ the bill’s sponsor, Senator Bruce Givens (R-Eldorado), told the Senate, including that the bill was believed by him would create 4,000 jobs.
Senate Minority Leader Anthony Hensley (D-Topeka) agreed. She said it would revive a business that ‘really requires our help.’
‘We need to provide 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 probably register suit against the state for breach of contract and demand the reimbursement of millions in revenue-share payments since their establishment in 2008.
There is a breach of agreement. There’s no relevant question those contracts had been supposed to be punitive,’ said Sen. Ty Masterson, R-Andover. ‘It’s almost like we’ve a desire that is masochistic protracted litigation. I really don’t understand what we’re doing.’
The Kansas casino sector is nominally ‘state-owned’ however 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 problem by allowing racetrack owners to submit a letter of credit promising to settle the casinos. Racetrack owners would then be refunded by the state, which would return half of the racetracks’ revenue-share re payments until they certainly were quits.
But for Senator Vicki Schmidt (R-Topeka), this was too convoluted and the chance 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 Gambling Enterprises Top $1 Billion in March, Sportsbooks Set Basketball Handle Record
Nevada casinos collectively won significantly more than $1 billion in March, which marks the industry’s 3rd consecutive month eclipsing the celebratory threshold.
Fans once again packed the Westgate’s Global Theater for March Madness, as sportsbooks around the state assisted Nevada casinos again win over $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 last 12 months through the very first 3 months in 2018.
The Strip had been mainly 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 away that January, February, and March’s $1 billion hauls are the first time since 2008 that Silver State gambling enterprises have actually 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 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 last month, oddsmakers scored a slam dunk on baseball.
A record $436.5 million was bet on the sport, the most coming on college’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 basketball, oddsmakers actually won eight percent less than in March 2017 once 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 basketball, once the appeal of gambling on the NCAA men’s basketball tournament continues to increase.
Perhaps the most readily useful news within the release is the fact that Strip revenues have reversed course after four consecutive monthly declines following a October 1 massacre. Strong baccarat play suggests that site visitors from Asian countries are returning to Las Vegas.
GGR along the Strip reduced from through January october. a main financial concern was determining how long Asian visitors, that are critical to your main drag, would remain away.
Caesars CEO Mark Frissora stated in October that ‘people in Asia are respectful of the deaths,’ and added regarding a mourning period, ‘I’ve heard it’s sometimes a period of three, four months.’
Baccarat, the most popular game among tourists from Asian nations, saw win amounts 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 endure 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 %). To date, GGR on the Strip is up 3.3 percent year.