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

The Seneca country has announced it’s going to 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 New York and communities that are local.

The Seneca Niagara Resort & Casino has announced its big revamp, but meanwhile the standoff between the Seneca Nation and the 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 payments that are making a 12 months ago. Under the terms of a 2002 lightweight, 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 trade for the 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 certain clause within the agreement that said revenue-share payments would continue beyond 2016.

The state has said there are ‘no legitimacy to these claims,’ plus the tribe’s assertion it can ‘unilaterally end paying the state share while continuing to enjoy the advantages for the compact has no basis in the compact, legislation 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 legally binding arbitration, which, months later, has yet getting underway.

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

‘We have long seen our Niagara Territory, and this vantage point of Seneca Niagara in particular, as standing at the entry way to Niagara Falls,’ said Seneca country President Todd Gates said in a statement. ‘As many more people visit our resort and discover and rediscover the wonders of Niagara, we 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 battles to compete for an economic 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 was scaling back tasks such as road improvements through not enough funds and wouldn’t rule out taxes that are raising.

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 help 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 dropped at the first fence.

The Kansas Senate in Topeka missed a chance to ‘right the incorrect,’ in the expressed words of Senator Bruce Givens, whoever bill sought to regenerate the state’s extinct horseracing industry. (Image: Kansas Public Radio)

SB 427 sought to cut taxation rates for racetracks, which supporters argue have already been therefore punitive that they have killed off the once-thriving thoroughbred and quarter horseracing industry in 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.

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 within the case that is latter demolished. Horse breeders and owners are forced to travel 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 were operational to 22 per cent, in line with the quantity presently paid by Kansas’ four ‘state owned’ casinos.

‘It creates the ability to, exactly what I love to call, right the incorrect. The incorrect 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, including that he believed the bill would produce 4,000 jobs.

Senate Minority Leader Anthony Hensley (D-Topeka) consented. It was said by her would revive an industry that ‘really needs 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 likely register suit against their 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 contract. There’s no relevant question those contracts had been meant to be punitive,’ said Sen. Ty Masterson, R-Andover. ‘It’s almost like we have a desire that is masochistic protracted litigation. I don’t understand what we’re doing.’

The Kansas casino sector is nominally ‘state-owned’ nevertheless the known fact that the casinos would sue the state to protect their passions illustrates the reality which 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 then be refunded by the state, which would return 1 / 2 of the racetracks’ revenue-share payments until these 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 past decade.

Nevada Casinos 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 1xbet bookmaker 3rd consecutive month eclipsing the celebratory threshold.

Fans once again packed the Westgate’s International Theater for March Madness, as sportsbooks around the 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 in front of where they were this time year that is last the very first 90 days in 2018.

The Strip had been mainly 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 up for grabs 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 time that is first 2008 that Silver State gambling enterprises have actually surpassed the 10-digit plateau in three consecutive months.

March 2018 benefited from an extra saturday compared to the month in 2017. While gaming was 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 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 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 a lot more than $38 million for your house.

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

March 2018 was the seventh straight March that posted a record that is new for baseball, once the appeal of gambling on the NCAA men’s baseball competition continues to increase.

Viva Strip

Perhaps the best news into the launch is Strip revenues have reversed course after four consecutive monthly declines following a October 1 massacre. Strong baccarat play implies that site visitors from parts of asia are returning to Las Vegas.

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

Caesars CEO Mark Frissora stated in October that ‘people in Asia are particularly 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 popular game among people from Asian nations, saw win amounts 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 as much as four months seems accurate, as baccarat play has posted big gains in February and March (respectively 83 per cent and 115 per cent). To date, GGR on the Strip is up 3.3 percent year.