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’ll begin work on 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 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 payments that are making a 12 months ago. Under the terms of a 2002 compact, they were expected to contribute around $100 million a year to the state, a sum that was then distributed between Albany, Buffalo, Niagara Falls and Salamanca, in trade for the betx1 tribe’s exclusive right offer casino gaming in those cities.

However the tribe stopped payments that are making a 12 months ago. The 2002 agreement 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 stated there are ’no legitimacy to these claims,‘ and the tribe’s assertion so it can ‚unilaterally end paying the continuing state share while continuing to enjoy the benefits of the compact has no foundation in the compact, legislation or logic.‘

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

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

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

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

Meanwhile, city councilman Chris Voccio told neighborhood radio station 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 in the Senate

A legislative push aimed at rebuilding Kansas‘ defunct horse and dog racing industries has fallen 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, whose bill sought to regenerate 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’ve killed off the once-thriving thoroughbred and quarter horseracing industry within the state.

However the bill was narrowly defeated into the Senate by 20-17, as opposing lawmakers argued the measure would break current 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 cut the racetracks paid to the state whenever they had been functional to 22 percent, in line with the amount currently paid by Kansas‘ four ’state owned‘ casinos.

‚It creates the chance to, just what I like to call, right the incorrect. The wrong was when the Legislature raised the tax share from 22 per cent to 40 percent,‘ the bill’s sponsor, Senator Bruce Givens (R-Eldorado), told the Senate, incorporating 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 assistance.‘

‚We need to offer the racetracks a second chance,‘ she stated.

‚Masochistic‘ Litigation

But opponents cited a 2016 viewpoint from Kansas AG Derek Schmidt warning that the state’s casinos would probably 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 question those contracts were meant to be punitive,‘ said Sen. Ty Masterson, R-Andover. ‚It’s just like we’ve a masochistic desire for protracted litigation. I actually don’t understand what we are doing.‘

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

The bill attempted to deal with this issue by allowing racetrack owners to submit a letter of credit promising to repay 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.

However for Senator Vicki Schmidt (R-Topeka), this had been too convoluted and the risk too high. She demanded to learn 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 a lot 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 International Theater for March Madness, 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 ahead of where they were this time year that is last the very first 3 months in 2018.

The Strip had been 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 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 an extra saturday in comparison to the thirty days 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

Combined with 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 was bet on the sport, the most coming on university’s NCAA March Madness. Sportsbooks reported a rate that is win of percent, meaning hoops generated significantly more than $38 million for the house.

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

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

Viva Strip

Perhaps the news that is best in the release is that Strip revenues have reversed course after four consecutive monthly declines after the October 1 massacre. Strong baccarat play implies that site visitors from parts of asia are going back to Las Vegas.

GGR along the Strip decreased from October through January. a main financial concern was determining how long Asian visitors, that are critical to the main drag, would stay 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 it’s sometimes a period of three, four months.‘

Baccarat, the most game that is popular tourists from Asian nations, saw win amounts 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 up to four months seems accurate, as baccarat play has published gains that are big 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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