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 will begin work for a $40 million makeover of the Seneca Niagara Resort & Casino in the City of Niagara Falls, as it continues to withhold revenue-share re payments to the State of ny and local communities.

The Seneca Niagara Resort & Casino has announced its big revamp, but 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 gambling enterprises are bearing the responsibility.

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 1xpet to the state.

Nevertheless the tribe stopped making repayments over 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 continuing state contribution while continuing to enjoy the benefits regarding the compact has no foundation in the compact, law or logic.’

Late last 12 months, nyc State declared the Seneca Nation become in breach of its compact and delivered an interest in lawfully binding arbitration, which, months later, has yet getting 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 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 Nation President Todd Gates said in a statement. ‘As many more people see our resort and discover and rediscover the wonders of Niagara, we should 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 battles to compete on an financial level with its more popular Canadian namesake is scrambling to balance its budget 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 lack of 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 produce ‘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 industries has dropped at the fence that is first.

The Kansas Senate in Topeka missed an opportunity to ‘right the wrong,’ in the expressed words of Senator Bruce Givens, whose bill sought to bring back the state’s extinct horseracing industry. (Image: Kansas Public Radio)

SB 427 sought to cut 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.

However 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.

Despite its racing heritage, the quantity of racetracks operating today in Kansas is precisely zero. 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.

Righting Wrongs

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

‘It creates the opportunity to, exactly what I like to phone, right the wrong. 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, adding that the bill was believed by him would produce 4,000 jobs.

Senate Minority Leader Anthony Hensley (D-Topeka) consented. It was said by her would revive a business that ‘really needs our help.’

‘We need to offer 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 their state for breach of agreement and demand the reimbursement of millions in revenue-share payments since their establishment in 2008.

There is a breach of agreement. There’s no concern those contracts were 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’re doing.’

The Kansas casino sector is nominally ‘state-owned’ however the known proven fact that the casinos would sue the state to protect their interests illustrates the truth which 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 be refunded by then the state, which will return 1 / 2 of the racetracks’ revenue-share re payments until these were quits.

But also for Senator Vicki Schmidt (R-Topeka), this had been too convoluted and the danger too high. She demanded to know 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 gambling enterprises collectively won significantly more than $1 billion in March, which marks the industry’s 3rd month that is consecutive the celebratory threshold.

Fans again stuffed the Westgate’s International Theater for March Madness, as sportsbooks around the state assisted Nevada casinos again conquer $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 very first 3 months in 2018.

The Strip ended up being 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 away that January, February, and March’s $1 billion hauls are the time that is first 2008 that Silver State casinos have 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.

Sportsbooks Prosper

Along with the healthy 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 more than $38 million for the house.

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

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

Viva Strip

Perhaps the most useful news in the launch is that Strip revenues have actually reversed course after four consecutive monthly declines after the 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 through January october. a primary financial concern was determining just how long Asian visitors, that are critical to the main drag, would remain away.

Caesars CEO Mark Frissora stated in that ‘people in Asia are extremely respectful associated with the deaths,’ and included regarding a mourning duration, ‘I’ve heard that it’s sometimes a period of three, four months. october’

Baccarat, the most game that is popular people from Asian nations, saw win amounts fall in each of the four months, the largest to arrive December when the table game’s revenues retracted 30 percent.

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 percent and 115 percent). To date, GGR on the Strip is up 3.3 percent year.

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