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

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

The Seneca Nation has announced it will begin work for a $40 million makeover of the Seneca Niagara Resort & Casino in the town of Niagara Falls, as it continues to withhold revenue-share re 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 between your Seneca Nation and the State 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 had been expected to contribute around $100 million a year to their state, a sum that was 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 payments that are making 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 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.

The state has said here are ‘no legitimacy to these claims,’ plus the tribe’s assertion that it can ‘unilaterally end paying the state contribution while continuing to enjoy the advantages for the compact has no foundation in the compact, legislation or logic.’

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

For the time being, the Senecas are planning ‘a flowing, landscaped entry boulevard’ to the Niagara Resort & Casino with ‘extensive gardening, sculpture features.’

‘We have very long viewed our Niagara Territory, and this vantage point of Seneca Niagara in particular, as standing during the door to Niagara Falls,’ said Seneca country 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

However the actual City of Niagara Falls a community of around 50,000 people that battles to compete for an level that is economic 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 jobs such as road improvements through not enough funds and wouldn’t rule out raising taxes.

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 create ‘some hard decisions’ this budget season.

Kansas Horse Racing Revival Bill Dies in 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 wrong,’ in the words of Senator Bruce Givens, whoever bill sought to revive 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 within the state.

Nevertheless 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.

The number of racetracks operating today in Kansas is precisely zero despite its racing heritage. Its famous venues like Eureka Downs and Anthony Downs are shuttered, or into 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 slice the racetracks paid towards the state when they were operational to 22 per cent, on the basis of the quantity presently paid by Kansas’ four ‘state owned’ casinos.

‘It creates the ability to, just what I like to phone, right the incorrect. The wrong was when the Legislature raised the tax share from 22 per cent to 40 %,’ the bill’s sponsor, Senator Bruce Givens (R-Eldorado), told the Senate, including 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 an industry that ‘really requires our assistance.’

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

‘Masochistic’ Litigation

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

There exists a breach of agreement. There’s no relevant concern those agreements 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 don’t understand what we are doing.’

The Kansas casino sector is nominally ‘state-owned’ however the known undeniable fact that the casinos would sue the state to protect their interests illustrates the reality that 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 settle the casinos. Racetrack owners would be refunded by then the state, which may return 50 % of the racetracks’ revenue-share re payments until they certainly were quits.

But for Senator Vicki Schmidt (R-Topeka), this was 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 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 month that is consecutive the celebratory threshold.

Fans again stuffed the Westgate’s International Theater for March Madness, as sportsbooks around the state aided Nevada casinos again make an impression on $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 year that is last the very first three months in 2018.

The Strip ended up being mainly 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 surpassed the 10-digit plateau in three consecutive months.

March 2018 benefited from an extra saturday compared to 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 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 was bet on the sport, the most coming on college’s NCAA March Madness. Sportsbooks reported a win rate of 8.71 http://1xbets-giris.top/ percent, meaning hoops generated significantly more than $38 million for the home.

While the $436.5 million handle is a new high for baseball, oddsmakers actually won eight percent less than in 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 record that is new 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 into the launch is Strip revenues have actually reversed course after four consecutive monthly declines after the October 1 massacre. Strong baccarat play shows that visitors from Asian countries are going back to Las Vegas.

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

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

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

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 (correspondingly 83 per cent and 115 per cent). Year to date, GGR in the Strip is up 3.3 percent.

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