Everett Mayor Carlo DeMaria ended up being among a small grouping of Massachusetts mayors and town leaders who rejected the claims in a recent anti-casino research.
Some Massachusetts mayors and town executives in the state have blasted a casino study that claims new resorts would hurt lottery profits for metropolitan areas and towns here. Anti-casino advocates are employing the study to recommend that the financial benefits 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 research, which was released by Repeal the Casino contract, local lottery earnings could visit as much as 22 per cent 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 relax and play the lottery turn instead to casinos.
Mayors, Town Officials Reject Research
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 towns where casinos and slot parlors are authorized) is rejecting these figures, saying that other analysts attended up with entirely different results. Based on the municipal leaders, any lottery losses will be short-term, and would be much more than offset by the brand new revenues brought in by the casinos.
‘These claims are totally inconsistent with the other studies about results on local aid along with the connection with other states lottery that is regarding,’ the officials said in a statement released by the Committee to Protect Massachusetts work.
To back up dream of vegas casino slots these statements, the group cited studies commissioned by the state of Massachusetts, because well as other people from the Greater Boston Chamber of Commerce and the guts for Policy Analysis at UMass Dartmouth. Not only 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 run that is long lotteries were not harmed at simply by the development of casinos.
‘ In fact, lottery profits in Connecticut have doubled considering that the inception of casinos, and lotteries in Maine, Maryland, Ohio and Pennsylvania have all continued to cultivate, even as those states introduced gaming,’ the statement read.
Repeal the Deal Fires Back
However the anti-casino group behind the scholarly study pointed out that they utilized the Massachusetts Gaming Commission’s own revenue estimates to come to their findings. Since nearly all state lottery revenue goes into local federal 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 continuing state Gaming Commission has approved licenses for just two casino projects: an MGM casino in Springfield, also a Wynn Resorts project in Everett. A slots parlor has also been approved for Plainville.
Nevertheless, the continuing future of those facilities is still up in the air. Anti-casino advocates have successfully placed a question in the November ballot voters that are asking they would like to repeal the law that allowed for these casinos to be certified; a ‘yes’ vote would end plans to build the venues.
But anti-casino campaigners are facing an uphill fight. Not just are the casinos definitely better funded within their campaigns to beat the repeal effort back, but recent polling has shown that most voters plan to vote to help keep the casinos.
Carl Icahn Taj Mahal Bankruptcy Needs Hit Casino Union
Lawyers for Carl Icahn state that the Taj Mahal will only endure if it really is 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 statement mirrors earlier statements from Icahn, although the exact nature of their demands is revised somewhat since the instead public battles between him and state officials.
Speaking with respect to 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.
‘When you don’t grant the…motion, it’s just not viable as a company,’ Brilliant said in court. ‘ Without that, staying in the pension plan, ultimately very quickly the casino shall shut. This is certainly the window here; the window is available.’
Convert Debt into Ownership
Trump Entertainment and Icahn are attempting to push through a plan that would see Icahn transform the $286 million in debt he owns within the casino into ownership associated with resort. Icahn would then accept invest another $100 million of his money that is own to it all afloat. However, that investment is contingent on a few demands that begin with the dissolution of the current union agreement.
Beyond that, Icahn and Trump Entertainment are looking for significant financial help from Atlantic City and the state of the latest Jersey, though they will have modified their needs significantly after the really negative reaction that their first series of demands received. They’ve been now seeking $175 million in relief via a PILOT ( re payments in lieu of taxes) program, also as two grants beingn’t typically offered to gambling enterprises: the Economic Redevelopment Grant and also the Urban Revitalization Grant. The state legislature would have to approve permitting the casino to get such funds.
Originally, Icahn and Trump wanted Atlantic City to lower its property taxation assessments by as much as 80 percent, and for the continuing state to contribute $25 million more in tax credits.
Union Lawyers Call It Unfair Advantage
But lawyers for Local 54 of this Unite-HERE union said that all of these demands, including those being made of workers while the state and governments that are local had been simply an attempt by Icahn to boost the Taj’s competitive position over other casinos during the expense of people who could least afford it.
‘Let’s glance at the poorest associated with the stakeholders here making sure they throw in the towel everything permanently before we are even willing 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 simply just how dire the situation was in the casino. According for them, Trump Entertainment has been selling televisions and used mattresses from the sister that is now-closed Trump Plaza so as to earn significantly more cash.
But Trump Entertainment attorney Kris Hansen countered that allowing the casino to break their union was the only way it could survive.
‘it, we have a chance to stay alive,’ said Hansen if you do grant. ‘The expense structure of this casino doesn’t work, also it needs to be fixed. If we’re successful, employees reach keep their jobs, despite the fact that they made some concession. Having job surpasses not having a job.’
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 news games like Words with Friends and Candy Crush could be the surprising next moneymaker that is big brand 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 it’s eager to begin a framework that is regulatory will allow such games to be incorporated into on the web and land-based operations within the state.
While revenue from conventional slots has dropped off in modern times, social video gaming has grown as a international multibillion dollar industry over a similar time period as well as the DGE clearly views the trend as a means to reviving New Jersey’s flagging land-based casino industry, while boosting the online sector.
There had been talk that is much the recent G2E gambling industry summit in nevada of their state of the video slot industry and a general acknowledgement that it requires to adjust and modernize so as to appeal to a brand new generation of players.
Young people tend to eschew traditional slots in favor of other forms of entertainment, and there is a sense that is growing 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 notion of a fresh form 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 initiative, which was designed to revitalize the state’s gaming and tourism industries, permits favorable treatment for video gaming products that are submitted to nj-new Jersey before just about any state. The provision allows products that are such be rolled out in the casino floor within fortnight of assessment 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 news release. ‘It will appeal up to a larger segment for the population and bring more customers to a casino’s slot flooring or even to their Web website. Social gamers are already acquainted with these types of games and would be ready to try them for real-money casino gaming.’
A study that is recent the organization Research and Markets shows that on average 200 million people currently play social games online per month, and that figure is expected to increase within the next five years. By 2019, the research predicts, the social gaming industry will be worth $17.4 billion.
In 2012, IGT, the planet’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 the full time being, nonetheless, the DGE is accepting submissions from all companies and all sorts of developers, as it attempts to reconsider and reshape its gambling industry.
‘ Given the success of our New Jersey First program during the last three years, we have the quickest time to marketplace for electronic gaming equipment anywhere in the country,’ stated DGE Director David Rebuck. ‘The Division is authorized to implement this process and move forward with products. Bring your innovative skill-based games to New Jersey and we’ll work them approved quickly. with you getting’