Everett Mayor Carlo DeMaria was among a team of Massachusetts mayors and city leaders whom rejected the claims in an anti-casino study that is recent.
Some Massachusetts mayors and town executives in the state have blasted a casino research that claims new resorts would hurt lottery profits for towns and towns there. Anti-casino advocates are using the research to recommend that the economic advantages of adding casinos in Massachusetts have been overstated, and that voters should repeal the casino law into the November ballot that is upcoming referendum.
According to the study, which was released by Repeal the Casino contract, local lottery profits could stop by up to 22 percent 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 utilized to relax and play the lottery change instead to casinos.
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 urban centers where casinos and slot parlors have been authorized) is rejecting these numbers, saying that other analysts attended up with entirely different results. Based on the leaders that are municipal any lottery losses would be short-term, and would be much more than offset by the latest revenues earned by the casinos.
‘These claims are totally inconsistent aided by the other studies about effects on neighborhood aid sufficient reason for the experience of other states regarding lottery revenues,’ the officials said in a statement released by the Committee to guard Massachusetts work.
To back these statements up, the team cited studies commissioned by the state of Massachusetts, as well as others from the Greater 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, but they even offered some evidence that within the long haul, lotteries were not harmed at simply by the introduction 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 cultivate, even while those states introduced gaming,’ the statement read.
Repeal the Deal Fires Back
However the anti-casino group behind the study pointed out that they utilized the Massachusetts Gaming Commission’s own revenue estimates to come calmly to their findings. Since almost all state lottery revenue goes into regional government coffers, they said, any drop would straight impact city and city 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, along with a Wynn Resorts task in Everett. A slots parlor has also been authorized for Plainville.
Nevertheless, the ongoing future of those facilities remains up in the air. Anti-casino advocates have successfully placed a concern regarding the November ballot asking voters if they would like to repeal the law that allowed for these casinos to be licensed; a ‘yes’ vote would end plans to build the venues.
But anti-casino campaigners are facing a fight that is uphill. Not merely are the casinos much better funded inside their campaigns to beat the repeal effort back, but recent polling has shown that most voters plan to vote to keep the gambling enterprises.
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 union workers to its contract. (Image: Scott Eells/Bloomberg)
Carl Icahn’s attorneys have actually told a bankruptcy court that he will not keep the Taj Mahal (formerly Trump Mahal that is taj unless the judge cancels the casino’s union contract. That declaration mirrors earlier statements from Icahn, although 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 property’s parent company, just couldn’t afford to help keep the Taj Mahal available unless the judge ruled within their benefit and permitted 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. https://real-money-casino.club/slots-of-vegas-online-casino/ ‘ Without that, staying in the pension plan, ultimately very quickly the casino shall close. This might be the screen here; the screen is open.’
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 in the casino into ownership associated with the resort. Icahn would then consent to invest another $100 million of his own money to keep it all afloat. However, that investment is contingent on a series of demands that begin with the dissolution of the current union contract.
Beyond that, Icahn and Trump Entertainment are searching for significant financial help from Atlantic City and the state of New Jersey, though they will have modified their needs significantly following the very negative reaction that their first series of demands received. They have been now requesting $175 million in relief by way of a PILOT ( payments in lieu of taxes) system, too as two grants that aren’t normally offered to gambling enterprises: the Economic Redevelopment Grant as well as the Urban Revitalization Grant. The state legislature would have to approve allowing the casino to get such grants.
Initially, Icahn and Trump wanted Atlantic City to lower its home tax assessments by as much as 80 percent, and for the state to contribute $25 million more in tax credits.
Union Lawyers Call It Unfair Advantage
But lawyers for Local 54 for the Unite-HERE union stated that all of these needs, including those being made of employees as well as the state and governments that are local had been simply an attempt by Icahn to enhance the Taj’s competitive position over other casinos at the expense of those who could least manage it.
‘Let’s look at the poorest for the stakeholders here and also make sure they surrender everything permanently before we are also 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 how dire the situation was in the casino. According in their mind, Trump Entertainment has been selling televisions and used mattresses through the now-closed sister property Trump Plaza in an effort to earn much more cash.
But Trump Entertainment attorney Kris Hansen countered that allowing the casino to split their union was the only way it could survive.
‘When you do grant it, we’ve a chance to stay alive,’ said Hansen. ‘The expense structure of this casino doesn’t work, also it has to be fixed. If we’re successful, employees get to keep their jobs, despite the fact that they made some concession. Having a working task is better than not having a work.’
Personal Media Games Approved for Real Money NJ Online Enjoy
Farmville has money that is real for online play; New Jersey would like to make slots and skill-gaming hybrids a real possibility. (Source: www.techinasia.com).
Social media games like terms with Friends and Candy Crush might be the surprising next moneymaker that is big brand New Jersey online gamblers, in the event that 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 is eager to establish a regulatory framework that will enable such games to be incorporated into on line and land-based operations within the state.
While revenue from conventional slots has dropped off in recent years, social gaming has grown as a worldwide multibillion dollar industry over a comparable time frame while the DGE clearly views the trend as an effective way to reviving brand New Jersey’s flagging land-based casino industry, while boosting the sector that is online.
There was talk that is much the recent G2E gambling industry summit in nevada of the state of the slot machine game industry and a general acknowledgement that it needs to adapt and modernize in an effort to impress 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 sense that the adoption of ability gaming and social games, such as Candy Crush Saga and Farmville, in a casino context could be the answer, particularly the idea of a brand new types of slots/skill-gaming hybrid.
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 nj-new Jersey First effort, which was designed to revitalize the state’s video gaming and tourism industries, permits treatment that is favorable gaming products which are submitted to nj-new Jersey before other state. The provision allows products that are such be rolled out in the casino floor within fortnight of evaluating and approval.
‘The concept of combining skill-based and social elements to a casino game has an appeal that is broad-based’ said the DGE in a pr release. ‘It will appeal to a larger section associated with population and bring more customers to a casino’s slot flooring or even to their Internet website. Social gamers seem to be acquainted with these kind of games and would be ready to take to them for real-money casino gaming.’
A present research by the company Research and Markets shows that an average of 200 million people presently play social games online per month, and that figure is expected to increase within the next 5 years. By 2019, the research predicts, the social gaming industry will be worth $17.4 billion.
In 2012, IGT, the earth’s developer that is largest of gaming machines, which ended up being recently acquired by GTECH, purchased social casino games designer Doubledown for a deal worth well over $400 million and it must be reasonable to assume that the business has been looking into the viability of social/slot hybrids. For enough time being, nevertheless, the DGE is accepting submissions from all companies and all developers, as it attempts to reconsider 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 market for electronic gaming equipment anywhere in the united states,’ 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 them authorized quickly. with you to get’