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’ll begin work for a $40 million makeover of the Seneca Niagara Resort & Casino in the City of Niagara Falls, since 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 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 casinos are bearing the burden.

The Senecas stopped payments that are making a year ago. Under the terms of a 2002 lightweight, they were anticipated to contribute around $100 million per year to their state, a sum that was then distributed between Albany, Buffalo, Niagara Falls and Salamanca, in change for the tribe’s exclusive right offer casino gaming in those cities.

But the tribe stopped making payments over a year 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.

Their state has said there are ‘no legitimacy to these claims,’ and the tribe’s assertion it can ‘unilaterally end paying the state share while continuing to enjoy the huge benefits of this compact has no foundation in the compact, legislation or logic.’

Later year that is last nyc State declared the Seneca country to be in violation of its compact and delivered a demand for legally binding arbitration, which, months later, has yet to have underway.

For the time being, the Senecas are planning ‘a flowing, landscaped entry boulevard’ to the Niagara Resort & Casino with ‘extensive landscaping, sculpture features.’

‘We have very long seen our Niagara Territory, and this vantage point of Seneca Niagara in particular, as standing during the door that is front Niagara Falls,’ stated Seneca country President Todd Gates said in a declaration. ‘As many more people see our resort and discover and rediscover the wonders of Niagara, you want to make an impression that is immediate them.’

Niagara Falls into Disrepair

But the actual City of Niagara Falls a community of around 50,000 people that struggles to compete on an level that is economic its more popular Canadian namesake is scrambling to balance its spending plan without the funds 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 was scaling back projects such as road improvements through not enough funds and wouldn’t rule out raising taxes.

Meanwhile, city councilman Chris Voccio told local radio station WBFO this week that while the Senecas landscape their entry boulevard, the council will have 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 a chance to ‘right the wrong,’ in the expressed 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 income tax rates for racetracks, which supporters argue have been therefore punitive that they have killed off the once-thriving thoroughbred and quarter horseracing industry into the state.

But the bill was narrowly defeated within the Senate by 20-17, as opposing lawmakers argued the measure would violate existing 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.

Righting Wrongs

SB 427 would have slashed the 40 percent cut the racetracks paid to the continuing state when they were operational to 22 %, based on the quantity currently paid by Kansas’ four ‘state owned’ casinos.

‘It creates the chance to, just what I love to call, right the incorrect. 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, incorporating 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 provide the racetracks a second chance,’ she said.

‘Masochistic’ Litigation

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

There exists a breach of agreement. There’s no relevant question those agreements were 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 are doing.’

The Kansas casino sector is nominally ‘state-owned’ but the known undeniable fact that the casinos would sue the state to protect their interests illustrates the truth which they are anything but.

The bill attempted to deal with this issue by allowing racetrack owners to submit a http://1xbets-giris.top/ letter of credit promising to settle the casinos. Racetrack owners would then be refunded by the state, which may return 50 % of the racetracks’ revenue-share re payments until these people were quits.

But also for Senator Vicki Schmidt (R-Topeka), this had been too convoluted and the risk 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 past decade.

Nevada Casinos Top $1 Billion in March, Sportsbooks Set Basketball Handle Record

Nevada gambling enterprises collectively won 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 continuing state aided 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 in front of where they were this time year that is last the very first 90 days in 2018.

The Strip had been chiefly 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 time that is first 2008 that Silver State casinos have actually surpassed the 10-digit plateau in three consecutive months.

March 2018 benefited from an extra saturday compared to the thirty days in 2017. While gaming ended up being 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 healthier March video gaming report includes revenues from sportsbook operations. And month that is last oddsmakers scored a slam dunk on baseball.

A record $436.5 million had been 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 more than $38 million for the home.

While the $436.5 million handle is just a new high for baseball, oddsmakers actually won eight percent less compared to March 2017 when they won over $41.2 million on a 9.6 % rate that is win.

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

Viva Strip

Perhaps the most readily useful news in the launch is the fact that Strip revenues have actually reversed course after four consecutive monthly declines following a 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 how long Asian visitors, which are critical towards the main drag, would remain away.

Caesars CEO Mark Frissora said in October that ‘people in Asia have become respectful of the deaths,’ and added regarding a mourning period, ‘I’ve heard so it’s sometimes a period of three, four months.’

Baccarat, the most popular game among 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 endure up to four months seems accurate, as baccarat play has posted big gains in February and March (correspondingly 83 per cent and 115 percent). To date, GGR on the Strip is up 3.3 percent year.

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