Everett Mayor Carlo DeMaria was among a small grouping of Massachusetts mayors and city leaders who rejected the claims in an anti-casino study that is recent.
Some Massachusetts mayors and city executives in the state have blasted a casino research that claims resorts that are new hurt lottery profits for towns and towns here. Anti-casino advocates are using the study 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 November ballot that is upcoming referendum.
According to the study, which was released by Repeal the Casino contract, local lottery earnings could stop by just as much as 22 % if the new casinos are permitted to be built. Overall, the scholarly study estimates that as much as $103 million could be lost as consumers who used to play the lottery turn instead to casinos.
Mayors, Town Officials Reject Study
However a group led by Everett Mayor Carlo DeMaria, Springfield Mayor Domenic Sarno and Plainville Town Administrator Joseph Fernandes (all of whom lead towns and metropolitan areas where casinos and slot parlors have already been approved) is rejecting these numbers, saying that other analysts came up with entirely different results. Based on the leaders that are municipal any lottery losses will be short-term, and would be more than offset by the newest revenues brought in by the casinos.
‘These claims are totally inconsistent because of the other studies about effects on neighborhood aid along with the connection with other states lottery that is regarding,’ the officials said in a statement released by the Committee to guard Massachusetts work.
To back up these statements, the group cited studies commissioned by the state of Massachusetts, since well as others from the more Boston Chamber of Commerce and the guts for Policy review at UMass Dartmouth. Not just did those studies suggest that the large losses predicted by Repeal the Casino Deal had been unrealistic, nevertheless they even offered some evidence that in the long run, lotteries were not harmed at simply by the introduction of casinos.
‘ In fact, lottery profits in Connecticut have doubled because the inception of casinos, and lotteries in Maine, Maryland, Ohio and Pennsylvania have all continued to cultivate, even while those states introduced gaming,’ the statement read.
Repeal the Deal Fires Back
But the anti-casino group behind the study pointed out that they utilized the Massachusetts Gaming Commission’s own revenue estimates to come to their findings. Since almost all state lottery revenue adopts local government coffers, they said, any drop would directly impact city and town budgets. That, they said, meant that the critiques of their study ‘strain credibility.’
Therefore far, the state Gaming Commission has approved licenses for 2 casino projects: an MGM casino in Springfield, also a Wynn Resorts task in Everett. A slots parlor has additionally been authorized for Plainville.
However, the ongoing future of those facilities is still up in the air. Anti-casino advocates have successfully placed a question regarding the November ballot voters that are asking they would like to repeal the legislation that allowed for these casinos become licensed; a ‘yes’ vote would end plans to build the venues.
But anti-casino campaigners are facing a fight that is uphill. 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 help keep the casinos.
Carl Icahn Taj Mahal Bankruptcy Demands Hit Casino Union
Lawyers for Carl Icahn say that the Taj Mahal will only endure if it’s permitted to break union workers to its contract. (Image: Scott Eells/Bloomberg)
Carl Icahn’s solicitors have actually told a bankruptcy court that he will not keep carefully the Taj Mahal (formerly Trump Taj Mahal) open unless the judge cancels the casino’s union contract. That statement mirrors earlier statements from Icahn, though the exact nature of his demands has been revised somewhat since the instead public battles between him and state officials.
Speaking with respect to Icahn, lawyer Alan Brilliant told US Bankruptcy Judge Kevin Gross that Trump Entertainment Resorts, the property’s parent company, simply couldn’t afford to keep the Taj Mahal open 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 company,’ Brilliant said in court. ‘ Without that, staying in the pension plan, finally really quickly the casino will shut. This might be the window here; the screen is available.’
Convert Debt into Ownership
Trump Entertainment and Icahn are attempting to push through a plan that would see Icahn convert the $286 million in debt he has within the casino into ownership regarding 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 number of demands that start with the dissolution of the current union contract.
Beyond that, Icahn and Trump Entertainment are searching for significant help that is financial Atlantic City and hawaii of the latest Jersey, though they have modified their demands significantly following the really negative reaction that their first series of demands received. They are now seeking $175 million in relief through a PILOT ( payments in lieu of taxes) system, aswell as two grants beingn’t typically offered to casinos: the Economic Redevelopment Grant and also the Urban Revitalization Grant. The state legislature would have to approve permitting the casino to receive grants that are such.
Initially, Icahn and Trump wanted Atlantic City to lower its home tax assessments by up to 80 percent, as well as for the state to contribute $25 million more in taxation credits.
Union Lawyers Call It Unfair Advantage
But lawyers for Local 54 of this Unite-HERE union stated that all of these demands, including those being made of employees therefore the state and local governments, were simply an attempt by Icahn to enhance the Taj’s competitive position over other casinos at the cost of people who could least manage it.
‘Let’s glance at the poorest associated with the stakeholders here and make sure they call it quits every thing permanently before we are even prepared 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 just just how dire the situation was in the casino. According in their mind, Trump Entertainment has been selling televisions and used mattresses through the sister that is now-closed Trump Plaza in order to earn much more cash.
But Trump Entertainment attorney Kris Hansen countered that allowing the casino to break their union was the way that is only could survive.
‘When you do grant it, we now have the opportunity to stay alive,’ said Hansen. ‘The price structure of this casino doesn’t work, also it has to be fixed. Whenever we’re successful, employees reach keep their jobs, despite the fact that they made some concession. Having a working task is preferable to not having a task.’
Social Media Games Approved for Real Money NJ Online Enjoy
Farmville has money that is real for online play; nj-new jersey wants to make slots and skill-gaming hybrids a real possibility. (Source: www.techinasia.com).
Social news games like Words with Friends and Candy Crush could possibly be the surprising next moneymaker that is big 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 designers and that its eager to set up a regulatory framework that will enable such games become included into online and land-based operations into the state.
While revenue from conventional slots has dropped off in recent years, social video gaming has grown as a worldwide multibillion dollar industry over a comparable period of time and also the DGE clearly views the trend as a way to reviving brand New Jersey’s flagging land-based casino industry, while boosting the online sector.
There had been much talk at the recent G2E gambling industry summit in Las Vegas of their state for the video slot industry and a general acknowledgement that it needs to adapt and modernize so as to attract to a new generation of players.
Young people tend to eschew traditional slots in favor of other designs of entertainment, and there’s a growing feeling that the adoption of skill gaming and social games, such as Candy Crush Saga and Farmville, in a casino context could be the answer, particularly the thought of a fresh form of slots/skill-gaming hybrid.
Brand New Jersey 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 effort, that has been designed to revitalize the state’s gaming and tourism industries, permits treatment that is favorable video gaming products that are submitted to nj-new Jersey before any other state. The provision allows products that are such be rolled out in the casino floor within fortnight of testing and approval.
‘The concept of combining skill-based and social elements to a casino game has an appeal that is broad-based’ stated the DGE in a press release. ‘It will appeal up to a larger portion of the population and bring more customers to a casino’s slot flooring or even to their Internet website. Social gamers are already knowledgeable about these types of games and would be prepared to try them for real-money casino gaming.’
A study that is recent the organization Research and Markets implies that on average 200 million people presently perform social games online per month, and that figure is expected to double on the next five years. By 2019, the analysis predicts, the social gaming industry heart of vegas casino slots will be worth $17.4 billion.
In 2012, IGT, the world’s developer that is largest of gaming machines, which ended up being recently acquired by GTECH, purchased social casino games developer Doubledown for a deal worth well over $400 million and it should 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 accepting submissions from all companies and all sorts of 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 actually the quickest time to market for electronic gaming equipment anywhere in the country,’ stated DGE Director David Rebuck. ‘The Division is authorized to implement this method and move forward with products. Bring your innovative skill-based games to New Jersey and we will work with one to get them approved quickly.’