Brand New York Southern Tier Gets Another Look from Casino Licensing Board today

New York Governor Andrew Cuomo urged a state board to reconsider a Southern Tier casino, but the board’s chairman says the decision that is final not be affected by the Empire State’s leader.

The brand new York Southern Tier is waiting on pins and needles for the results of a casino licensing conference tonight with the State Gaming Facility Location Board.

Tonight’s meeting shall see the Board give consideration to reopening the bidding process for a resort in the Southern Tier.

That part of the state has been everyone that is lobbying through nyc Governor Andrew Cuomo in a effort to make its case that the location, situated near the Pennsylvania edge, is worthy of the fourth and last license reserved for upstate New York.

Even the undeniable fact that the Southern Tier is still into the game is really a little bit of a success for local politicians and residents. The location was partnered with the Finger Lakes as a single region in the casino putting in a bid process, and between the two, were only guaranteed a single license. This 1 ultimately went to the Lago Resort and Casino, a Finger Lakes proposal that was larger compared to the bids coming out of the Southern Tier.

But people in the location felt that they’d been passed over in the casino procedure, when in the same time they had been denied certification, a hydraulic fracturing (or ‘fracking) ban was put into place in their state, which could leave the Southern Tier in dire economic straits. That resulted in appeals to the state Gaming Commission and Governor Cuomo to provide the area another chance.

New Meeting Could Start Bidding for Fourth License

That led Cuomo to attract the Gaming Facility Location Board, which often made a decision to hold a meeting on Tuesday night in nyc to consider reopening the bidding in the Southern Tier.

Because the board originally only recommended three casinos for upstate New York, there clearly was still a license that is fourth could potentially be awarded. While that license was originally up for grabs in all three upstate regions, however, the board will simply be considering offering it to the tier that is southern this meeting.

That does not sit well with many lawmakers and other observers throughout the state. Some believe other areas of New York should have the opportunity to bid for that fourth license if it becomes available, while others question how much influence Governor Cuomo has in the casino process.

Hudson Valley Officials Want a Shot

At one point into the bidding process, it seemed likely that the fourth casino would end up in the Catskills/Hudson Valley area, which was probably the most lucrative area and saw the many interest from major casino firms. Given its proximity to New York City and the fact that regional competition could be fierce there, Orange County Executive Steve Neuhaus thinks that the area must certanly be a part of any discussion over the final casino license.

‘Given the distinct possibility that casino gambling in New Jersey could expand outside of its current Atlantic City location, such as the Meadowlands, it seems sensible for New York jobs and revenue that the absolute most productive areas in southern New York be included in this discussion,’ read a statement from Neuhaus.

Cuomo’s Influence Questioned

You can find also concerns that Cuomo, who pledged allowing the board to work independently, has had influence that is too much the licensing process.

‘Every time he says something, he does the alternative when it doesn’t turn the way out he wants it to prove,’ said Assemblyman James Tedisco (R-Schenectady). ‘If you are going to state something is independent, keep it independent.’

But members of the facility location board state they are able to act independently, without any pressure from the governor’s office, and that your choice in the Southern Tier comes from them, not from Cuomo.

Washington State Gets its Online Poker that is own Bill

Washington State’s current on-line poker laws are draconian, which has prompted the push for legislative change. (Image:

A Washington State on-line poker bill is here unexpectedly at the opening of this state’s brand new session that is legislative week.

The bill to legalize and control poker that is online known as HB 1114, is sponsored by Representative Sherry Appleton (D), and comes as a complete surprise to industry observers.

While all eyes have been regarding the ongoing legislative efforts in California, and the debate that is occasional Pennsylvania about the possibility of regulation, Washington’s bill ambushed us out of the blue.

The fact that Washington State may be the state that is only of Union when the actual act of playing online poker is unlawful makes the headlines even surprising.

Lawmakers made it A class C felony in 2006, with Section 9.46.240 of this state’s gambling law declaring that anybody who ‘knowingly transmits or gets gambling information by telephone, telegraph, radio, semaphore, the Internet, a telecommunications transmission system, or means that are similar is breaking the legislation.

This implies that, theoretically at least, playing online poker could land you a jail sentence of up to five years and a $10,000 fine.

Also Utah, where all forms of gambling are strictly illegal, including lotteries, does perhaps not get quite this far, although we should point out that nobody in Washington State has ever been prosecuted for the work of playing online poker.

Washington Online Poker Initiative

It could very well be the draconian nature of part 9.46.240 that has driven the push for legislative change in this state that is relatively liberal.

Certainly, the primary crux associated with new bill is that prohibition fails, and neither does it adequately protect residents associated with state, lots of whom continue to play on-line poker illegally in unregulated offshore markets.

This can also be the message that is crusading of Woodward, of the Washington Internet Poker Initiative, whose tireless efforts in opposing prohibition have helped make the proposed legislation a truth.

‘It seemed to me personally that Washington State had just been written off regarding on-line poker, which I found unsettling to state the least. Someone had to intensify and raise the problem or we could be a forgotten corner that is little the Northwest,’ Woodward told PokerNews this week. ‘I had reached out to every single legislative candidate prior towards the 2014 elections.

Representative Appleton is a huge cosponsor on a few attempts to reduce or take away the penalty that is criminal players, and she was initially receptive of the idea and was one of a small number of legislators I dedicated to. We got in contact along with her again after the election, and she easily took on the bill for us.’

A Blueprint for future years

The bill it self believes that numerous for the legislative details should be fleshed out by the Gaming Commission and thus doesn’t propose a level of taxation, nor does it make no mention of bad actors.

It can, however, recommend that there ought to be two levels of licensing, one for system operators and one for consumer-facing online poker rooms, and it would also leave the door open for interstate pool sharing, during the governor’s discretion.

Moreover, there is additionally a hope that the bill may one time act as a blueprint for other states seeking to legalize on-line poker in the long term.

‘ Having the top operators serve as networks, with neighborhood skins competing for players, creates the best opportunity for wide participation, without splintering player liquidity. The greater interests that are local to participate, the fewer opponents there will be among them,’ stated Woodward.

Caesars Entertainment Goes for Bankrupt, While Creditors Decry Restructuring Plan

Caesars Palace is run by Caesars Entertainment Operating Company, Inc., which has filed for Chapter 11 bankruptcy. However, all Caesars properties will continue to be open during the procedure, says CEO Gary Loveman. (Image:

Caesars Entertainment Corp. (CEC) announced the filing of voluntary Chapter 11 bankruptcy this week for its operating that is main unit Caesars Entertainment Operating business Inc. (CEOC).

The move was a bid to ease some of its astronomical $23 billion debtload, nearly all which will be held by the device. CEOC listed around $12.4 billion in assets and $19.9 billion in liabilities in Chapter 11 documents on Thursday.

The subsidiary and its own affiliates employ about 32,000 people across the United States and run 44 resort and gaming properties in 13 states, as well as in five other countries, including the flagship Caesars Palace in Las Vegas.

However the core message from the parent business is the fact that its ‘business as always’ for several of its gambling enterprises.

‘The properties across the entire Caesars Entertainment network are available and will run without interruption throughout CEOC’s reorganization process,’ said Gary Loveman, the CEO of CEC and chairman of CEOC, in an statement that is official Thursday.

‘Our visitors will stay to earn benefits through the Total Rewards loyalty system, and all of us remains entirely concentrated on delivering the same outstanding solution and unforgettable entertainment experiences guests came to expect from Caesars Entertainment. Going forward, we shall carry on to build up and deliver new, revolutionary hospitality experiences to our guests.’

We Come to Bury Caesars…

But Caesars is not away from the woods yet, because it faces a revolt from the lower-level creditors, who accuse the debt restructuring plan it has resolved with its major creditors of unjustly protecting the company’s interests at the expense of their own.

While CEOC files for bankruptcy in Chicago, this number of lower-level creditors will maintain a federal court in Delaware attempting to call a temporary halt to the Chicago case and to stop the restructuring plan from going through as drafted. The move this week follows months of negotiation and litigation between Caesars and its particular bondholders.

Caesars countered that these creditors are trying ‘to wreak havoc on the process that is orderly debtors, their professionals, and also the many consenting stakeholders have been preparing for months.’

Good Caesars / Bad Caesars

Caesars acquired nearly all of its debt whenever it went private in 2008, following a $30.1 billion takeover by Apollo worldwide Management and TPG Capital, just around the onset of the global economic downturn.

As the recession hit the land-based casino industry in the usa, the group, featuring its 50 casinos across the United States, suffered.

Caesars has lost cash every year since 2009, and has struggled to pay for the interest on its enormous debt. It recently posted 2014 Q3 losses of $908.1 million and last thirty days defaulted on a $225 million payment.

‘We think this restructuring is into the desires of CEOC’s stakeholders and will result in a sustainable capital structure for CEOC and value creation for all stakeholders,’ said Loveman.

‘The restructuring of CEOC may be the culmination of an effort that is years-long improve the health of CEOC’s balance sheet, which has included substantial investment in brand new and upgraded assets, especially in Las Vegas. I’m really confident later on leads of our enterprise, which will combine an improved money structure with a community of lucrative properties.’

However, Caesars’ disgruntled creditors have accused Apollo and TPG of attempting to produce a ‘good Caesars,’ that may obtain its famous and valuable properties, and a ‘bad Caesars’ to keep your debt.

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