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New York Southern Tier Gets Another Look Today from Casino Licensing Board

New York Governor Andrew Cuomo urged a situation board to reconsider a Southern Tier casino, but the board’s president states the concluding decision will not be impacted by the Empire State’s frontrunner.
The newest York Southern Tier is waiting on pins and needles for the results of a casino licensing meeting with the State Gaming Facility Location Board tonight.
Tonight’s meeting shall see the Board pay attention to reopening the putting in a bid process for a resort in the Southern Tier.
That section of the state happens to be lobbying everybody up through New York Governor Andrew Cuomo in a effort to make its case that the area, found near the Pennsylvania edge, is deserving of the fourth and last license reserved for upstate New York.
Even the known fact that the Southern Tier is still into the game is really a little bit of a success for neighborhood politicians and residents. The location was partnered with the Finger Lakes as a single area in the casino bidding process, and between the two, were just promised a license that is single. That one ultimately went to the Lago Resort and Casino, a Finger Lakes proposal that was larger than the bids being released of the Southern Tier.
But people in the location felt which they’d been passed over in the casino process, when regarding the day that is same were 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 New York City to consider reopening the bidding in the Southern Tier.
Because the board originally only recommended three casinos for upstate New York, there was still a license that is fourth may 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 doesn’t sit well with many lawmakers along with other observers throughout the state. Some believe other regions of New York should have the ability to bid for that 4th license if it becomes available, while others question how much impact Governor Cuomo has in the casino procedure.
Hudson Valley Officials Want a Shot
At one point within the bidding procedure, it seemed likely that the fourth casino would find yourself in the Catskills/Hudson Valley region, which was probably the most profitable area and saw the most 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 region must be 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, including the Meadowlands, it’s wise for brand New York jobs and revenue that the absolute most productive regions in southern New York be included in this discussion,’ read a statement from Neuhaus.
Cuomo’s Influence Questioned
You can find also issues that Cuomo, who pledged allowing the board to operate independently, has received influence that is too much the licensing process.
‘Every time he says one thing, he does the contrary when it doesn’t turn out the means he wants it to turn out,’ said Assemblyman James Tedisco (R-Schenectady). ‘If you’re going to state something is separate, keep it independent.’
But members of the facility location board say they’ve been able to act separately, without any stress from the governor’s office, and that your decision in the Southern Tier will come from them, not from Cuomo.
Washington State Gets its Online Poker that is own Bill
Washington State’s current poker that is online are draconian, which has prompted the push for legislative change. (Image: livingmylifeaway.wordpress.com)
A Washington State online poker bill is here unexpectedly at the opening associated with the state’s brand 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 shock to industry observers.
While all eyes have been in 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 nowhere.
The very fact that Washington State is the state that is only of Union where the actual act of playing online poker is illegal makes the news headlines even surprising.
Lawmakers caused it to be A class C felony in 2006, with Section 9.46.240 of the state’s gambling law declaring that anybody who ‘knowingly transmits or receives gambling information by telephone, telegraph, radio, semaphore, the online, a telecommunications transmission system, or similar means’ is breaking the legislation.
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.
Even Utah, where all kinds of gambling are strictly illegal, including lotteries, does perhaps not go quite this far, although we should point out that no one in Washington State has ever been prosecuted for the act of playing on-line 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 brand new bill is that prohibition doesn’t work, and casino ladbrokes tragamonedas 5 tambores gratis neither does it adequately protect residents of the state, a lot 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 Web Poker Initiative, whoever tireless efforts in opposing prohibition have helped make the proposed legislation a truth.
‘It appeared to me 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 will be a forgotten little part in 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 tries to reduce or remove the criminal penalty on players, and she was initially receptive of the idea and was one of a handful of legislators I dedicated to. I got in contact along with her again following the election, and she readily took on the bill for us.’
A Blueprint for future years
The bill it self believes that many regarding the details that are legislative be fleshed out by the Gaming Commission and so will not propose an amount of taxation, nor does it make no reference to bad actors.
It can, however, recommend that there ought to be two levels of licensing, one for community operators plus 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 also a hope that the bill may one day serve as a blueprint for other states looking to legalize poker that is online the future.
‘ Having the big operators serve as companies, with neighborhood skins competing for players, creates the best opportunity for wide participation, without splintering player liquidity. The greater neighborhood passions able 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: 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, nearly all which can 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 individuals throughout 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 company is that its ‘business as usual’ for all of its gambling enterprises.
‘The properties across the complete Caesars Entertainment network are open and will operate without interruption throughout CEOC’s reorganization process,’ stated Gary Loveman, the CEO of CEC and chairman of CEOC, within an statement that is official Thursday.
‘Our visitors will stay to make benefits through the Total Rewards loyalty system, and we remains entirely concentrated on delivering the same service that is outstanding unforgettable entertainment experiences guests attended to expect from Caesars Entertainment. In the years ahead, we shall carry on to build up and deliver new, innovative hospitality experiences to our visitors.’
We Come to Bury Caesars…
But Caesars isn’t out of the woods yet, because it faces a revolt from its lower-level creditors, who accuse the debt restructuring plan it has worked out with its major creditors of unjustly protecting the business’s interests at the cost of their own.
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 to stop the restructuring plan from going through as drafted while CEOC files for bankruptcy in Chicago. The move this follows months of negotiation and litigation between Caesars and its bondholders week.
Caesars countered that these creditors are attempting ‘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 most of its debt whenever it went private in 2008, following a $30.1 billion takeover by Apollo Global Management and TPG Capital, simply around the onset 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 money every year since 2009, and has struggled to cover the attention on its enormous debt. 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 in the desires of CEOC’s stakeholders and certainly will result in a sustainable money structure for CEOC and value creation for several 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 includes included significant investment in new and upgraded assets, especially in Las Vegas. I will be very confident as time goes on leads of our enterprise, which will combine an improved money framework with a system of lucrative properties.’
However, Caesars’ disgruntled creditors have accused Apollo and TPG of attempting to develop a ‘good Caesars,’ that may own its famous and valuable properties, and a ‘bad Caesars’ to keep the debt.
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