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

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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, since it continues to withhold revenue-share payments to the State of nyc and local communities.

The Seneca Niagara Resort & Casino has announced its revamp that is big 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 responsibility.

The Senecas stopped making payments over a 12 months 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.

Nevertheless the tribe stopped payments that are making a year 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 clause that is specific the agreement that said revenue-share payments would continue beyond 2016.

The state has stated there are ‘no legitimacy to these claims,’ plus the tribe’s assertion it can ‘unilaterally end paying the continuing state contribution while continuing to enjoy the benefits associated with the compact has no basis in the compact, law or logic.’

Late year that is last ny State declared the Seneca Nation to be in breach of its compact and delivered an interest in lawfully binding arbitration, which, months later, has yet to get underway.

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

‘We have long seen 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 check out our resort and discover and rediscover the wonders of Niagara, you want to make an immediate impression on 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 degree with its more popular Canadian namesake is scrambling to balance its spending plan without the money 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 had been scaling back tasks such as road improvements through lack of funds and wouldn’t rule out taxes that are raising.

Meanwhile, city councilman Chris Voccio told local radio station WBFO this week that while the Senecas landscape their entry boulevard, the council will have in order to make ‘some difficult 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 fallen at the first fence.

The Kansas Senate in Topeka missed an opportunity to ‘right the incorrect,’ in the 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 income tax rates for racetracks, which supporters argue have been so punitive that they’ve killed off the once-thriving thoroughbred and quarter horseracing industry within the state.

But the bill was narrowly defeated in the Senate by 20-17, as opposing lawmakers argued the measure would break existing agreements between 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 case that is latter 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 your state when they were operational to 22 percent, in line with the amount currently paid by Kansas’ four ‘state owned’ casinos.

‘It creates the ability to, just what I love to phone, right the incorrect. The incorrect was when the Legislature raised the tax share from 22 per cent to 40 per cent,’ the bill’s sponsor, Senator Bruce Givens (R-Eldorado), told the Senate, adding that he believed the bill would produce 4,000 jobs.

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

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

‘Masochistic’ Litigation

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

There is a breach of contract. There’s no question those agreements were meant to be punitive,’ said Sen. Ty Masterson, R-Andover. ‘It’s almost like we’ve a desire that is masochistic protracted litigation. I don’t understand what we are doing.’

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

The bill attempted to address this presssing problem 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 will return 50 % of the racetracks’ revenue-share re payments until they certainly were quits.

But also for Senator Vicki Schmidt (R-Topeka), this had been too convoluted and the danger 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 Gambling Enterprises 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 consecutive month eclipsing the celebratory threshold.

Fans again packed the Westgate’s International Theater for March Madness, as sportsbooks around the state helped 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 last 12 months through the 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 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 first time since 2008 that Silver State casinos have surpassed the 10-digit plateau in three consecutive months.

March 2018 benefited from an extra saturday compared to the month in 2017. While gaming had been 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 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 college’s NCAA March Madness. Sportsbooks reported a rate that is win of percent, meaning hoops generated significantly 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 compared to 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 baseball, as the popularity of gambling on the NCAA men’s basketball tournament continues to increase.

Viva Strip

Perhaps the news that is best within the launch is the fact that Strip revenues have reversed course after four consecutive monthly declines http://1xbets-giris.top/ following a October 1 massacre. Strong baccarat play shows that visitors from parts of asia are going back to Las Vegas.

GGR along the Strip decreased from through January october. a primary concern that is financial determining just how long Asian visitors, that are critical towards the main drag, would stay 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 that it’s sometimes a time period of three, four months.’

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


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