Everett Mayor Carlo DeMaria had been among a team of Massachusetts mayors and town leaders who rejected the claims in a recent anti-casino study.
Some Massachusetts mayors and city executives in the state have blasted a casino research that claims resorts that are new hurt lottery profits for cities and towns here. Anti-casino advocates are using the research to suggest that the financial benefits of adding gambling enterprises in Massachusetts have been overstated, and that voters should repeal the casino legislation into the upcoming November ballot referendum.
Based on the research, that has been released by Repeal the Casino contract, local lottery profits could visit up to 22 percent if the new casinos are permitted to be built. Overall, the study estimates that as much as $103 million could be lost as consumers who utilized to relax and play the lottery turn instead to gambling enterprises.
Mayors, Town Officials Reject Learn
But a group led by Everett Mayor Carlo DeMaria, Springfield Mayor Domenic Sarno and Plainville Town Administrator Joseph Fernandes (all of whom lead towns and cities where casinos and slot parlors happen authorized) is rejecting these numbers, saying that other analysts attended up with entirely different results. According to the municipal leaders, any lottery losses will be short-term, and would be more than offset by the new revenues brought in by the casinos.
‘These claims are totally inconsistent aided by the other studies about effects on local aid and with the experience of other states lottery that is regarding,’ the officials said in a statement released by the Committee to safeguard Massachusetts work.
To back up these statements, the group cited studies commissioned by the state of Massachusetts, as well as other people from the more Boston Chamber of Commerce and the guts for Policy Analysis at UMass Dartmouth. Not only did those studies suggest that the large losses predicted by Repeal the Casino Deal had been unrealistic, but they even offered some evidence that into the run that is long lotteries were not harmed at all by the development of gambling enterprises.
‘ In fact, lottery revenues in Connecticut have doubled since the inception of casinos, and lotteries in Maine, Maryland, Ohio and Pennsylvania have all continued to grow, even as those continuing states introduced gaming,’ the statement read.
Repeal the Deal Fires Back
But the anti-casino group behind the study pointed out that they used the Massachusetts Gaming Commission’s own revenue estimates to come quickly to their findings. Since almost all state lottery revenue adopts neighborhood government coffers, they said, any drop would straight impact city and town budgets. That, they said, meant that the critiques of their study ‘strain credibility.’
Therefore far, the continuing state Gaming Commission has approved licenses for just two casino projects: an MGM casino in Springfield, also a Wynn Resorts project in Everett. A slots parlor has also been authorized for Plainville.
Nonetheless, the future of those facilities is still up in the air. Anti-casino advocates have successfully placed a question regarding the November ballot asking voters if they would like to repeal the law that allowed for these casinos to be certified; a ‘yes’ vote would end plans to build the venues.
But anti-casino campaigners are facing an uphill fight. Not only are the casinos better funded in their campaigns to beat back the repeal effort, but recent polling has shown that most voters plan to vote to keep the casinos.
Carl Icahn Taj Mahal Bankruptcy Demands Hit Casino Union
Lawyers for Carl Icahn say that the Taj Mahal will only survive if it’s permitted to break its contract with union employees. (Image: Scott Eells/Bloomberg)
Carl Icahn’s attorneys have actually told a bankruptcy court that he will not keep the Taj Mahal (formerly Trump Taj Mahal) available unless the judge cancels the casino’s union contract. That declaration mirrors earlier statements from Icahn, though the nature that is exact of demands happens to be revised somewhat since the rather public battles between him and state officials.
Speaking on behalf of Icahn, attorney Alan Brilliant told US Bankruptcy Judge Kevin Gross that Trump Entertainment Resorts, the home’s parent business, simply couldn’t afford to keep the Taj Mahal available unless the judge ruled inside their favor and allowed them to break their contract that is current with union.
‘if you don’t grant the…motion, it’s just not viable as a continuing business,’ Brilliant said in court. ‘ Without that, staying in the pension plan, ultimately very quickly the casino shall close. This really is the window here; the window is available.’
Convert Debt into Ownership
Trump Entertainment and Icahn are trying to push through a plan that would see Icahn transform the $286 million in debt he owns within the casino into ownership for the resort. Icahn would then agree to invest another $100 million of his money that is own to it all afloat. However, that investment is contingent on a series of demands that start with the dissolution of the union contract that is current.
Beyond that, Icahn and Trump Entertainment are looking for significant help that is financial Atlantic City and their state of New Jersey, though they will have modified their requests notably after the extremely negative reaction that their first series of demands received. They’re now requesting $175 million in relief via a PILOT ( payments in lieu of taxes) system, too as two grants beingn’t typically offered to casinos: the Economic Redevelopment Grant plus the Urban Revitalization Grant. The state legislature would have to approve enabling the casino to receive such funds.
Initially, Icahn and Trump desired Atlantic City to lower its home taxation assessments by as much as 80 percent, and for the continuing state to contribute $25 million more in income tax credits.
Union Lawyers Call It Unfair Advantage
But lawyers for Local 54 regarding the Unite-HERE union stated that all of these needs, including those being made of employees and also the state and local governments, were simply an attempt by Icahn to enhance the Taj’s competitive place over other casinos during the cost of people who could least manage it.
‘Let’s look at the poorest for the stakeholders here and work out sure they surrender every thing permanently before we are even willing to move,’ said Unite-HERE lawyer Kathy Krieger, while categorizing Icahn’s demands. ‘That’s absolute nonsense.’
Lawyers for the Taj Mahal, though, attempted to show simply exactly how dire the situation was at the casino. According in their mind, Trump Entertainment has been selling televisions and used mattresses through the sister that is now-closed Trump Plaza to be able to earn significantly more cash.
But Trump Entertainment attorney Kris Hansen countered that allowing the casino to split their union was the way that is only could survive.
‘When you do grant it, we now have an opportunity to stay alive,’ said Hansen. ‘The cost structure of this casino doesn’t work, plus it needs to be fixed. If we’re successful, employees arrive at keep their jobs, even though they made some concession. Having a working work is preferable to not having a job.’
Social Media Games Approved for Real Money NJ Online Play
Farmville has real cash potential for online play; nj would like to make slots and skill-gaming hybrids a real possibility. (supply: www.techinasia.com).
Social news games like terms with Friends and Candy Crush could be the surprising next moneymaker that is big brand New Jersey online gamblers, if the state’s Division of Gaming Enforcement (DGE) has its way.
The DGE has announced it will now be accepting submissions for skill-based and social games from developers and that it really is eager to begin a framework that is regulatory will allow such games to be incorporated into on the web and land-based operations into the state.
While revenue from traditional slots has dropped off in the last few years, social video gaming has grown as a international multibillion dollar industry over a comparable period of time and the DGE clearly views the trend as a means to reviving New Jersey’s flagging land-based casino industry, while boosting the sector that is online.
There ended up being much talk at the recent G2E gambling industry summit in Las vegas, nevada of hawaii associated with the slot machine game industry and a general acknowledgement that it needs to adapt and modernize so as to appeal up to a new generation of players.
Young people tend to eschew traditional slots in favor of other forms of entertainment, and there exists a sense that is growing the adoption of skill gaming and social games, such as Candy Crush Saga and Farmville, in a casino context may be the answer, particularly the thought of a fresh kind of slots/skill-gaming hybrid.
Brand New Jersey Very First
The DGE has emphasized it the edge it has lost to its competitors in neighboring states in recent years that it wishes to move forward quickly with this initiative, banking that being the first into the market will give.
The New Jersey First initiative, that was designed to revitalize the state’s video gaming real-money-casino.club and tourism industries, permits treatment that is favorable video gaming items that are submitted to New Jersey before some other state. The supply allows products that are such be rolled out in the casino floor within week or two of assessment and approval.
‘The concept of combining skill-based and social elements to a casino game has a broad-based appeal,’ said the DGE in a news release. ‘It will appeal to a larger segment associated with the population and bring more customers to a casino’s slot floor or to their Web website. Social gamers already are acquainted with these types of games and would be ready to take to them for real-money casino gaming.’
A recent study by the company Research and Markets suggests that on average 200 million people currently play social games online per month, and that figure is expected to double throughout the next 5 years. By 2019, the analysis predicts, the social gaming industry will be worth $17.4 billion.
In 2012, IGT, the planet’s developer that is largest of gaming machines, which was recently acquired by GTECH, purchased social casino games designer Doubledown for the deal worth well over $400 million and it must be reasonable to assume that the company has been looking into the viability of social/slot hybrids. For the time being, but, the DGE is submissions that are accepting all companies and all developers, as it attempts to rethink and reshape its gambling industry.
‘ Given the success of our New Jersey First program over the last three years, we have the time that is fastest to marketplace for electronic gaming equipment anywhere in the united kingdom,’ said DGE Director David Rebuck. ‘The Division is authorized to implement this process and move ahead with products. Bring your innovative skill-based games to New Jersey and we will work with one to get them authorized quickly.’