Seneca Niagara Begins $40 Million Casino Beautification, Still No Payments to Cash-Strapped City

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Seneca Niagara Begins $40 Million Casino Beautification, Still No Payments to Cash-Strapped City

The Seneca Nation has announced it’ll 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 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 involving 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 burden.

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

Nevertheless 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 specific clause within the agreement that said revenue-share payments would continue beyond 2016.

The state has stated here are ‘no legitimacy to these claims,’ as well as 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.’

Later year that is last ny State declared the Seneca country become in violation of its compact and delivered an interest in lawfully binding arbitration, which, months later, has yet getting underway.

In the meantime, the Senecas are organizing ‘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 at the door that is front Niagara Falls,’ stated Seneca Nation President Todd Gates said in a statement. ‘As many more people go to our resort and discover and rediscover the wonders of Niagara, we should 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 on an level that is economic its more popular Canadian namesake is scrambling to balance its budget without the amount of money it once relied on as a host community. The city has high crime rates, while around 60 percent of residents receive government assistance.

Mayor Paul Dyster recently announced Niagara Falls was scaling back jobs such as road improvements through not enough funds and wouldn’t rule out taxes that are raising.

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 in order to make ‘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 dropped at the fence that is first.

The Kansas Senate in Topeka missed a possibility to ‘right the incorrect,’ in the expressed words of Senator Bruce Givens, whoever bill sought to regenerate the state’s extinct horseracing industry. (Image: Kansas Public Radio)

SB 427 desired to cut taxation rates for racetracks, which supporters argue have already been so punitive that they have killed off the once-thriving thoroughbred and quarter horseracing industry into the state.

However the bill was narrowly defeated in the Senate by 20-17, as opposing lawmakers argued the measure would violate existing agreements between 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 go to other states to compete in races.

Righting Wrongs

SB 427 would have slashed the 40 percent slice the racetracks paid to the state when they had been functional to 22 per cent, based on the amount currently paid by Kansas’ four ‘state owned’ casinos.

‘It creates the opportunity to, just 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, adding that he believed the bill would create 4,000 jobs.

Senate Minority Leader Anthony Hensley (D-Topeka) agreed. She said it would revive a business that ‘really needs our assistance.’

‘We need to give the racetracks a 2nd chance,’ she said.

‘Masochistic’ Litigation

But opponents cited a 2016 opinion from Kansas AG Derek Schmidt warning that the state’s casinos would likely register suit against their state for breach of contract and demand the reimbursement of millions in revenue-share re 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 have a masochistic desire for protracted litigation. I actually don’t understand what we are 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 truth which they are anything but.

The bill attempted to address this presssing issue by allowing racetrack owners to submit a letter of credit promising to repay the casinos. Racetrack owners would then be refunded by the state, which may return half of the racetracks’ revenue-share re payments until they were quits.

But for Senator Vicki Schmidt (R-Topeka), this had been 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 Casinos Top $1 Billion in March, Sportsbooks Set Basketball Handle Record

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

Fans again packed the Westgate’s Overseas Theater for March Madness http://1xbets-giris.top/, as sportsbooks around the continuing 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 year that is last the very first 90 days 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 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 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 the March that is healthy gaming includes revenues from sportsbook operations. And last month, oddsmakers scored a slam dunk on basketball.

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 baseball, oddsmakers actually won eight percent less than in March 2017 if 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 basketball, due to the fact appeal of gambling on the NCAA men’s basketball competition continues to increase.

Viva Strip

Perhaps the news that is best in the release is the fact that Strip revenues have actually reversed course after four consecutive monthly declines following October 1 massacre. Strong baccarat play shows that site visitors from Asian countries are going back to Las Vegas.

GGR along the Strip reduced from through January october. a main concern that is financial 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 time period of three, four months.’

Baccarat, the most popular game among tourists 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 endure as much as four months seems accurate, as baccarat play has published big gains in February and March (respectively 83 % and 115 percent). To date, GGR on the Strip is up 3.3 percent year.

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