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’s going to begin work on a $40 million makeover of the Seneca Niagara Resort & Casino in the City of Niagara Falls, as it continues to withhold revenue-share payments to the State of New York and communities that are local.

The Seneca Niagara Resort & Casino has announced its big revamp, but meanwhile the standoff between the Seneca Nation and their state of New York shows no signs of progress, and the communities that host the tribe’s casinos are bearing the responsibility.

The Senecas stopped making payments over 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.

However the tribe stopped making repayments over a 12 months ago. The 2002 contract 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 particular clause within the agreement that said revenue-share payments would continue beyond 2016.

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

Later last 12 months, New York State declared the Seneca country become in breach of its compact and delivered an interest in lawfully binding arbitration, which, months later, has yet to get underway.

The Senecas are organizing ‘a flowing, landscaped entry boulevard’ to the Niagara Resort & Casino with ‘extensive landscaping, sculpture features. in 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 Nation 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

However the actual City of Niagara Falls a community of around 50,000 people that struggles 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 city 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 jobs such as road improvements through not enough funds and wouldn’t rule out raising fees.

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 produce ‘some hard 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 industries has dropped at the first fence.

The Kansas Senate in Topeka missed a possibility to ‘right the incorrect,’ 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 so punitive that they have killed off the once-thriving thoroughbred and quarter horseracing industry within the state.

But the bill was narrowly defeated into 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 racing heritage, the number of racetracks operating today in Kansas is precisely zero. Its famous venues like Eureka Downs and Anthony Downs are shuttered, or into the latter case, demolished. Horse breeders and owners are forced to go to other states to compete in races.

Righting Wrongs

SB 427 would have slashed the 40 percent slice the racetracks paid towards the continuing state when they had been functional to 22 percent, in line with the amount currently paid by Kansas’ four ‘state owned’ casinos.

‘It creates the chance to, what I like to phone, right the incorrect. The wrong 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 he believed the bill 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 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 likely register suit against the state for breach of agreement and demand the reimbursement of millions in revenue-share re payments since their establishment in 2008.

There’s a breach of contract. There’s no relevant concern those contracts had been supposed to be punitive,’ said Sen. Ty Masterson, R-Andover. ‘It’s just like we’ve a desire that is masochistic protracted litigation. I actually 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 reality they are anything but.

The bill attempted to deal with this presssing 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 1 / 2 of the racetracks’ revenue-share payments until these people were quits.

But for Senator Vicki Schmidt (R-Topeka), this ended up being too convoluted and the chance 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 previous decade.

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

Nevada casinos collectively won a lot more than $1 billion in March, which marks the industry’s 3rd month that is consecutive the celebratory threshold.

Fans once again packed the Westgate’s Global Theater for March Madness, as sportsbooks around the state helped 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 in front of where they were this time year that is last the first 3 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 driving force, 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 out 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 an extra saturday in comparison to 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.

Sportsbooks Prosper

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 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 more than $38 million for the home.

While the $436.5 million handle is just 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 % rate that is win.

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

Viva Strip

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

GGR along the Strip reduced from October through January. a main concern that is financial determining how long Asian visitors, which are critical to your main drag, would remain away.

Caesars CEO Mark Frissora stated in that ‘people in Asia are respectful associated with deaths,’ and added regarding a mourning period, ‘I’ve heard that it is sometimes a time period 1xbet para yatırma of three, four months. october’

Baccarat, the most game that is popular travelers 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 %.

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

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