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 City of Niagara Falls, since it continues to withhold revenue-share payments to the State of nyc and communities that are local.

The Seneca Niagara Resort & Casino has announced its revamp that is big meanwhile the standoff involving the Seneca Nation and their state of New York shows no signs of progress, and the communities that host the tribe’s casinos are bearing the duty.

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 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 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.

Their state has said there are ‘no legitimacy to these claims,’ and the tribe’s assertion it can ‘unilaterally end paying the state share while continuing to enjoy the huge benefits regarding the compact has no foundation in the compact, legislation or logic.’

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

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

‘We have very long viewed our Niagara Territory, and this vantage point of Seneca Niagara in particular, as standing at the door that is front Niagara Falls,’ said Seneca country President Todd Gates said in a declaration. ‘As many more people check out our resort and discover and rediscover the wonders of Niagara, we should make an immediate impression on them.’

Niagara Falls into Disrepair

Nevertheless the actual City of Niagara Falls a community of around 50,000 people that battles to compete on an economic level with its more popular Canadian namesake is scrambling to balance its spending plan without the funds 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 was scaling back jobs such as road improvements through lack of funds and wouldn’t rule out raising fees.

Meanwhile, city councilman Chris Voccio told neighborhood radio station WBFO this week that while the Senecas landscape their entry boulevard, the council will have to make ‘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 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 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 therefore punitive that they have killed off the once-thriving thoroughbred and quarter horseracing industry in the state.

However the bill was narrowly defeated into 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 in 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 operational to 22 %, based on the quantity currently paid by Kansas’ four ‘state owned’ casinos.

‘It creates the opportunity to, just what I love to call, right the incorrect. The incorrect 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, 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 market that ‘really requires our help.’

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

‘Masochistic’ Litigation

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

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

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

The bill attempted to address this presssing problem 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 would return 1 / 2 of the racetracks’ revenue-share re payments until they certainly were quits.

However for Senator Vicki Schmidt (R-Topeka), this had been too convoluted and the chance 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 past decade.

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

Nevada casinos collectively won significantly 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 International Theater for March Madness, as sportsbooks around the state assisted 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 3 months in 2018.

The Strip had been chiefly responsible for the revenue surge, as GGR came in 9.1 percent higher at almost $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 gambling enterprises have surpassed 1xbet bahis 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

Along with the March that is healthy gaming includes revenues from sportsbook operations. And final month, 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 percent, meaning hoops generated a lot more than $38 million for the home.

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

March 2018 was the seventh straight March that posted a brand new record handle for baseball, since the popularity of gambling on the NCAA men’s baseball competition continues to increase.

Viva Strip

Perhaps the best news within the release is the fact that Strip revenues have reversed course after four consecutive monthly declines following the October 1 massacre. Strong baccarat play shows that visitors from parts of asia are returning to Las Vegas.

GGR along the Strip decreased from October through January. a main concern that is financial determining just how long Asian visitors, that are critical to the main drag, would stay away.

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

Baccarat, the most game that is popular travelers from Asian countries, saw win quantities 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 endure as much as four months seems accurate, as baccarat play has posted big gains in February and March (respectively 83 % and 115 %). To date, GGR on the Strip is up 3.3 percent year.