New York Governor Andrew Cuomo urged a state board to reconsider a Southern Tier casino, but the board’s chairman states the ultimate decision will not be impacted by the Empire State’s leader.
The newest York Southern Tier is waiting on pins and needles for the outcomes of a casino licensing conference with the State Gaming Facility Location Board tonight.
Tonight’s meeting shall see the Board consider reopening the putting in a bid procedure for a resort in the Southern Tier.
That part of the state happens to be everyone that is lobbying through nyc Governor Andrew Cuomo in a effort to make its case that the area, situated near the Pennsylvania edge, is deserving of the 4th and last license reserved for upstate New York.
Even the known undeniable fact that the Southern Tier is still within the game is just a bit of a success for local politicians and residents. The location was partnered with the Finger Lakes as a single region in the casino bidding process, and between the two, were just promised a single permit. That one ultimately went to the Lago Resort and Casino, a Finger Lakes proposition that was larger than the bids coming out of the Southern Tier.
But individuals in the location felt they’d been passed over in the casino process, when on the same time they were denied certification, a hydraulic fracturing (or ‘fracking) ban was put into invest hawaii, which could leave the Southern Tier in dire economic straits. That led to appeals to the continuing state Gaming Commission and Governor Cuomo to supply the area another chance.
New Meeting Could Start Bidding for Fourth License
That led Cuomo to interest the Gaming Facility Location Board, which in turn decided to hold a meeting on night in New York City to consider reopening the bidding in the Southern Tier tuesday.
Because the board originally only recommended three casinos for upstate New York, there is certainly 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 only be considering offering it to the Southern Tier at this meeting.
It doesn’t sit well with many lawmakers and other observers throughout the state. Some genuinely believe that other regions of New York should have the opportunity to bid for that fourth license if it becomes available, while others question how much impact Governor Cuomo has in the casino process.
Hudson Valley Officials Want a Shot
At one point in the bidding procedure, it seemed likely that the 4th casino would find yourself in the Catskills/Hudson Valley region, which was probably the most lucrative area and saw the interest that is most 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 believes that the area must certanly be part of any conversation over the final casino license.
‘Given the possibility that is distinct casino gambling in nj could expand outside of its current Atlantic City location, including the Meadowlands, it makes sense for brand New York jobs and revenue that the 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 to permit the board to the office independently, has already established influence that is too much the licensing process.
‘Every time he says one thing, he does the opposite when it doesn’t turn the way out he wants it to turn out,’ stated Assemblyman James Tedisco (R-Schenectady). ‘If you are going to state something is separate, keep it independent.’
But members of the facility location board state they have been able to act independently, without any force from the governor’s office, and that your decision in the Southern Tier will come from them, not from Cuomo.
Washington State Gets Its Very Own Online Poker Bill
Washington State’s current internet poker laws are draconian, which has prompted the push for legislative change. (Image: livingmylifeaway.wordpress.com)
A Washington State on-line poker bill is here unexpectedly at the opening of this state’s new session that is legislative week.
The bill to legalize and control online poker, 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 without warning.
The fact that Washington State is the only state associated with the Union when the actual act of playing online poker is illegal makes the news headlines even surprising.
Lawmakers managed to get a course C felony in 2006, with Section 9.46.240 of the state’s gambling law declaring that whoever ‘knowingly transmits or receives gambling information by phone, telegraph, radio, semaphore, the Web, a telecommunications transmission system, or means that are similar is breaking the law.
What this means is 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 kinds of gambling are strictly illegal, including lotteries, does perhaps not go quite this far, although we should mention that nobody in Washington State has ever been prosecuted for the act of playing internet poker.
Washington Internet Poker Initiative
It is perhaps the draconian nature of part 9.46.240 that has driven the push for legislative change in this relatively liberal state.
Certainly, the main crux associated with new bill is that prohibition does not work properly, and neither does it adequately protect citizens associated with state, lots of whom carry on to play internet poker illegally in unregulated offshore markets.
This can also be the crusading message of Curtis Woodward, of the Washington Internet Poker Initiative, whose tireless efforts in opposing prohibition have helped make the proposed legislation a reality.
‘It did actually me personally that Washington State had just been written off online that is regarding, which I discovered unsettling to say the least. Someone had to step up and raise the issue or we would have been a forgotten little part in the Northwest,’ Woodward told PokerNews this week. ‘I had reached out to every solitary legislative candidate prior towards the 2014 elections.
Representative Appleton is a huge cosponsor on a few attempts to reduce or take away the criminal penalty on players, and she was initially receptive of the idea and was certainly one of a handful of legislators I focused on. We got in contact along with her again following the election, and she easily took on the bill for people.’
A Blueprint for future years
The bill itself believes that many of the legislative details should be fleshed out by the Gaming Commission and thus doesn’t propose a degree of taxation, nor does it make no reference to bad actors.
It will, however, recommend that there must be two levels of licensing, one for network operators plus one for consumer-facing online poker rooms, and it could also leave the hinged door open for interstate pool sharing, at the governor’s discretion.
Moreover, there is additionally a hope that the bill may one time act as a blueprint for other states looking to legalize internet poker in the long term.
‘ Having the top operators serve as sites, with regional skins competing for players, creates the maximum opportunity for wide participation, without splintering player liquidity. The greater amount of regional passions able to participate, the less opponents there will be among them,’ stated Woodward.
Caesars Entertainment Goes for Bankrupt, While Creditors Decry Restructuring Arrange
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 process, claims CEO Gary Loveman. (Image: lasvegas.se).
Caesars Entertainment Corp. (CEC) announced the filing of voluntary Chapter 11 bankruptcy this week for its main running unit, Caesars Entertainment Operating business Inc. (CEOC).
The move had been a bid to alleviate some of its astronomical $23 billion debtload, the majority of that will be held by the unit. CEOC listed around $12.4 billion in assets and $19.9 billion in liabilities in Chapter 11 documents on Thursday.
The subsidiary as well as its affiliates employ about 32,000 people over the US and run 44 resort and gaming properties in 13 states, since well as in five other countries, including the flagship Caesars Palace in Las Vegas.
However the core message from the parent business is that its ‘business as always’ for all of its casinos.
‘The properties across the complete Caesars Entertainment network are open and will run without interruption throughout CEOC’s reorganization process,’ stated Gary Loveman, the CEO of CEC and chairman of CEOC, in a statement that is official Thursday.
‘Our visitors will stay to earn advantages through the Total benefits loyalty program, and we remains entirely focused on delivering the same service that is outstanding unforgettable entertainment experiences guests came to expect from Caesars Entertainment. Moving forward, we ladbrokes mobile casino shall carry on to build up and deliver brand new, innovative hospitality experiences to our visitors.’
We Come to Bury Caesars…
But Caesars is not away from the woods yet, it has worked out with its major creditors of unjustly protecting the company’s interests at the expense of their own as it faces a revolt from its lower-level creditors, who accuse the debt restructuring plan.
While CEOC files for bankruptcy in Chicago, this group of lower-level creditors will be in a federal court in Delaware attempting to call a temporary halt to the Chicago case and also to stop the restructuring plan from going through as drafted. The move this week follows months of settlement and litigation between Caesars as well as its bondholders.
Caesars countered that these creditors are attempting ‘to wreak havoc on the process that is orderly debtors, their professionals, while the many consenting stakeholders have been planning for months.’
Good Caesars / Bad Caesars
Caesars acquired the majority of its debt whenever it went private in 2008, following a $30.1 billion takeover by Apollo Global Management and TPG Capital, simply round the start of the global economic downturn.
The group, with its 50 casinos across the US, suffered as the recession hit the land-based casino industry in America.
Caesars has lost cash every since 2009, and has struggled to pay the interest on its enormous debt year. It recently posted 2014 Q3 losses of $908.1 million and month that is last on a $225 million repayment.
‘We believe this restructuring is within the best interests of CEOC’s stakeholders and will result in a capital that is sustainable for CEOC and value creation for several stakeholders,’ said Loveman.
‘The restructuring of CEOC may be the culmination of a years-long effort to improve the wellness of CEOC’s stability sheet, which includes included substantial investment in new and upgraded assets, especially in Las Vegas. I will be really confident as time goes on prospects of our enterprise, which will combine a capital that is improved with a network of profitable properties.’
However, Caesars’ disgruntled creditors have accused Apollo and TPG of attempting to produce a ‘good Caesars,’ which will own its famous and properties that are valuable and a ‘bad Caesars’ to carry the debt.