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’ll begin work for a $40 million makeover of the Seneca Niagara Resort & Casino in the town of Niagara Falls, since it continues to withhold revenue-share re 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 your Seneca Nation and hawaii of New York shows no signs of progress, and the communities that host the tribe’s casinos 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 the state, a sum that ended up being then distributed between Albany, Buffalo, Niagara Falls and Salamanca, in trade for the tribe’s exclusive right offer casino gaming in those cities.

Nevertheless the tribe stopped making payments over a 12 months 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 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,‘ therefore the tribe’s assertion so it can ‚unilaterally end paying the state contribution while continuing to enjoy the benefits associated with the compact has no foundation in the compact, law or logic.‘

Later year that is last ny 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 get 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 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 statement. ‚As many more people check out our resort and discover and rediscover the wonders of Niagara, we want to 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 financial degree with its more popular Canadian namesake is scrambling to balance its spending plan without the amount of 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 projects such as road improvements through lack of 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 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 companies has dropped at the first fence.

The Kansas Senate in Topeka missed an opportunity to ‚right the wrong,‘ in the terms of Senator Bruce Givens, whoever bill sought to revive the state’s extinct horseracing industry. (Image: Kansas Public Radio)

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

But 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 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 within the second case, demolished. Horse breeders and 1x owners are forced to journey to other states to compete in races.

Righting Wrongs

SB 427 would have slashed the 40 percent slice the racetracks paid to your state when they were operational to 22 %, in line with the quantity currently paid by Kansas‘ four ’state owned‘ gambling enterprises.

‚It creates the chance to, what I love to phone, right the incorrect. The incorrect 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, adding that he believed the bill would produce 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 offer 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 likely file 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 agreements 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’re doing.‘

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

The bill attempted to handle 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 will return 1 / 2 of the racetracks‘ revenue-share re payments until these 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 decade that is past.

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

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

Fans again stuffed the Westgate’s Overseas Theater for March Madness, as sportsbooks around the continuing state aided 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 ahead of where they were this time last year through the first 3 months in 2018.

The Strip ended up being chiefly responsible for the revenue surge, as GGR came in 9.1 percent higher at almost $574 million. Baccarat was the driving force, 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 actually surpassed the 10-digit plateau in three consecutive months.

March 2018 benefited from A saturday that is extra compared the month 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 March that is healthy gaming 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 college’s NCAA March Madness. Sportsbooks reported a rate that is win of percent, meaning hoops generated a lot more than $38 million for the house.

While the $436.5 million handle is 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 record that is new for baseball, because the appeal of gambling on the NCAA men’s basketball competition continues to increase.

Viva Strip

Perhaps the most readily useful news in the launch is the fact that Strip revenues have reversed course after four consecutive monthly declines after the October 1 massacre. Strong baccarat play suggests that site visitors from Asian countries are returning to Las Vegas.

GGR along the Strip decreased from through January october. a primary concern that is financial determining how long Asian visitors, which are critical towards the main drag, would remain away.

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

Baccarat, the most game that is popular tourists from Asian nations, saw win quantities 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 posted gains that are big February and March (correspondingly 83 % and 115 %). Year to date, GGR regarding the Strip is up 3.3 percent.

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