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 Nation has announced it’s going to 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 nyc and local communities.

The Seneca Niagara Resort & Casino has announced its big revamp, but meanwhile the standoff involving the Seneca Nation and their 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 year 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.

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 party.

‘Defying Law and Logic’

But the Senecas argue that there was no specific clause within the agreement that said revenue-share payments would continue beyond 2016.

Hawaii has stated here are ‘no legitimacy to these claims,’ while the tribe’s assertion that it can ‘unilaterally end paying the continuing state share while continuing to enjoy the huge benefits associated with the compact has no foundation in the compact, law or logic.’

Late year that is last nyc State declared the Seneca country to be in violation of its compact and delivered an interest in legitimately binding arbitration, which, months later, has yet to have 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 viewed our Niagara Territory, and this vantage point of Seneca Niagara in particular, as standing at the door that is front Niagara Falls,’ said Seneca country President Todd Gates said in a declaration. ‘As many more people go to our resort and discover and rediscover the wonders of Niagara, you want to make an impression that is immediate them.’

Niagara Falls into Disrepair

Nevertheless the actual City of Niagara Falls a community of around 50,000 people that struggles to compete on an economic degree with its more popular Canadian namesake is scrambling to balance its budget without the money 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 tasks such as road improvements through not enough funds and wouldn’t rule out raising taxes.

Meanwhile, city councilman Chris Voccio told radio that is local WBFO this week that while the Senecas landscape their entry boulevard, the council will have to create ‘some hard 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 terms of Senator Bruce Givens, whoever bill sought to bring back 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.

Nevertheless the bill was narrowly defeated within the Senate by 20-17, as opposing lawmakers argued the measure would violate agreements that are existing the state and its four casino operators.

Despite its race heritage, the number of racetracks operating today in Kansas is precisely zero. Its famous venues like Eureka Downs and Anthony Downs are shuttered, or within 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 towards the continuing state whenever they were functional to 22 per cent, in line with the amount presently paid by Kansas’ four ‘state owned’ gambling enterprises.

‘It creates the chance to, what I love to phone, right the wrong. The wrong was when the Legislature raised the tax share from 22 % to 40 percent,’ 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. It was said by her would revive a business that ‘really requires our help.’

‘We need to offer the racetracks a chance that is second’ she stated.

‘Masochistic’ Litigation

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

There’s a breach of contract. There’s no question those contracts had been supposed to be punitive,’ said Sen. Ty Masterson, R-Andover. ‘It’s almost like we’ve a masochistic desire for protracted litigation. I really don’t understand what we’re doing.’

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

The bill attempted to address this issue 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 will return 50 % 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 risk 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 previous decade.

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

Nevada gambling enterprises collectively won a lot 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 assisted Nevada casinos again make an impression on $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 ahead of where they were this time last year through the first three months in 2018.

The Strip was 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 A saturday that is extra compared 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 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 university’s NCAA March Madness. Sportsbooks reported a win rate of 8.71 percent, meaning hoops generated a lot more than $38 million for your house.

While the $436.5 million handle is really a new high for basketball, oddsmakers actually won eight percent less than in March 2017 when they won over $41.2 million on a 9.6 percent rate that is win.

March 2018 was the seventh straight March that posted a record that is new for baseball, because the appeal of gambling on the NCAA men’s basketball tournament continues to increase.

Viva Strip

Perhaps the news that is best in the launch is that Strip revenues have actually reversed course after four consecutive monthly declines following October 1 massacre. Strong baccarat play suggests that site visitors from parts of asia are returning to Las Vegas.

GGR along 1xbet live stream the Strip decreased from October through January. a main financial concern was determining how long Asian visitors, which are critical to the main drag, would stay 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 it’s sometimes a period of three, four months.’

Baccarat, the most popular game among travelers from Asian nations, saw win quantities fall in each of the four months, the largest arriving December when the table game’s revenues retracted 30 %.

But Frissora being told the mourning period would last up to four months seems accurate, as baccarat play has published gains that are big February and March (respectively 83 per cent and 115 percent). To date, GGR on the Strip is up 3.3 percent year.

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