Station Casinos Chairman Frank Fertitta III will likely be joining the American Gaming Association Board of Directors this year, along with Steve Wynn (Image: renoetahoe.com)
Just Take your seats and get ready for some head-whipping interplay between power players: the American Gaming Association (AGA) the Washington, D.C.-based lobbying that is primary for the major casino conglomerates in America has some brand new constituents. It should make for an interesting 12 months ahead as these casinos‘ executives determine the course for gambling in the us, and in particular, online gambling.
Wynn Comes Back
Joining this powerhouse organization a group tasked largely with persuading federal legislators to do this where it’s required in terms of gaming will be Wynn Resorts Ltd., Station Casinos, and Kentucky that is upscale Derby and casino operator Churchill Downs Inc. Each of these companies will likely then have an official member representing their interests on the AGA’s board of directors.
Returning to the business that he initially founded right back in 1995 will be casino magnate Steve Wynn, chairman of his company that is eponymous obviously certainly one of the gaming industries more invigorated proponents. After he sold his Mirage Resorts to that which was then called MGM Grand Corp. back in 1999, Wynn had walked far from the organization. Their views on online gaming were somewhat circumspect, as they push for more federal oversight so it will be interesting to see which way he goes on this board.
Another player that is significant come on board will likely be Frank Fertitta III, whom is Station Casinos‘ chairman and thus clearly on the medial side of Internet gambling expansion; his business’s UltimatePoker internet site had been the first to go legal online in Nevada, while the entire United States. Fertitta is expected to join the AGA Board as well.
Heading up the AGA Board will be MGM Resorts International chairman Jim Murren, who is taking over for outgoing Board chair Richard Haddrill of Bally Technologies.
Hope and Change
This has been a crucial year for the AGA; the organization’s first and only president, Frank Fahrenkopf Jr., stepped down this previous Spring and his position was filled by travel industry expert Geoff Freeman. Recent departures by long-time management that is senior the consortium have also impacted its makeup products.
Freeman noted that using the involvement of these industry that is major, ‚a critical step in the AGA’s evolution as a representative associated with entire video gaming industry [has taken place].‘
But with these new power players may come some divisiveness aswell; Fertitta will obviously be in the cheering part for legal Internet video gaming, as his Ultimate Gaming now runs online in both Nevada and nj-new Jersey, while long-time member and Las vegas, nevada Sands Corporation Chairman Sheldon Adelson would provide their right supply or at the very least many of his billions to place the kaibosh on it forever.
All the time. although the AGA itself takes the official stand to be pro-Internet gambling, new president Freeman told GamblingCompliance.com that ‚we’re perhaps not the very first association to possess members disagree on an issue…[and while] other associations might not have people using the exact same resources [as Adelson] to express their point of view…this happens in associations‘
Revere and Mohegan Sun Strike Casino Contract in Massachusetts
The town of Revere, Massachusetts could benefit financially if Mohegan Sun’s casino ever becomes a truth
There isn’t any guarantee that Suffolk Downs and the Mohegan Sun will be able to develop a casino in the populous city of Revere, Massachusetts. In fact, the whole project still appears like a lengthy shot to simply about everyone else who isn’t directly included in promoting it. But should the city and the companies involved beat the chances, they’ll be exchanging a whole lot of cash into the a long time.
Pay to Play
Mohegan Sun arrived to an agreement with the city of Revere that will see the casino firm pay the city $33 million at the start, in return for allowing them to operate a casino at the Suffolk Downs racetrack; the billion-dollar project would feature 4,000 slot machines, 100 game tables, and a poker space . That would simply be the first of many payments, however, as the casino would continue making payments that are annual the town starting at no less than about $25 million to $30 million.
‚This agreement can be an deal that is extraordinary will assist us continue steadily to make the transformation of Revere a real possibility,‘ said Mayor Daniel Rizzo.
The offer reflects the undeniable fact that Mohegan Sun is the operator that is only the present proposal for the casino on land owned by the race track. Suffolk Downs would provide simply as a landlord, rather than running the facility.
If you have been attention that is paying the ongoing saga of the Suffolk Downs casino, you know that this could be the second effort to build a casino attached to the battle track. The attempt that is first which would have built a casino on the East Boston side of the line between Boston and Revere, was refused by East Boston voters, also as Revere voters authorized it.
That proposition would have already been significantly less lucrative for Revere, which mayn’t have hosted any associated with major buildings attached towards the facility. Under that host agreement, Revere was likely to receive a minimum of $9 million each year.
Revere Might Make Bank
Now, the populous city can expect to produce at least three times that amount. In addition, Rizzo said that the host agreement language which is expected to be made general public soon could allow the town to receive even greater payments in the event that casino manages to become extremely lucrative.
The money raised through the payments would be used to offer taxation relief for property owners in Revere, as well as to enhance services and facilities throughout the city. Mohegan Sun pointed to these as well as other economic benefits such once the thousands of jobs that might be produced as reasons why the offer would be a good one for the city.
‚We’re going to drive a tremendous quantity of prosperity for this city and trigger a huge upswing in the economy around here,‘ said Mohegan Tribal Gaming Authority main administrator Mitchell Etess.
But despite the texting, there are those who intend to organize in opposition to the Revere proposal. No Eastie Casino plan to work with those in Revere who oppose the casino to defeat the coming referendum while Boston’s Mayor-Elect Martin J. Walsh says that he’s unsure if Boston has a legal right to stop the casino move and that he would like to negotiate a surrounding community agreement with the casino developers members of anti-casino group. They will be joined with a group from Palmer where Mohegan Sun has already lost a casino vote that claims that the casino firm purposely lost the referendum there so that it could then try again in the more Greater Boston that is lucrative area.
Mixed Emotions as Judge Okays Atlantic Club Shutdown
The end of an era: Atlantic City’s Atlantic Club are going to be closing its doors on January 13 for good (Image: Edward Lea/PressofAC)
Each time a veteran casino closes down, for the buyers and vendors, it is simply business. But also for the casino’s employees, it is the increased loss of a work, and sometimes, a life-long profession. Such is the scenario for the Atlantic Club open for the past 33 years in Atlantic City, and originally developed by iconic casino magnate Steve Wynn which is closing down for good come January 13, 2014, per Judge Gloria Burns‘ purchases of the court.
Employees Weigh In
As she did so, the packed courtroom reflected the casino’s large workforce, who filled every seat; numerous have been employed there almost since its inception. Take bartender Joe Blatcher, who states he is witnessing not merely the loss of his own job, but what he sees as nefarious transactions between the city’s power players.
‚It’s a matter of the entire city wanting to eliminate a few properties so that the rest can still exist,‘ Blatcher decried. ‚It seems very suspicious that two gambling enterprises can synergy to take down another one. It’s like thinning out the herd to survive.‘
They say it’s true in nature, so why perhaps not among the wildebeests of gambling as well?
While Judge Burns noted there is no concrete proof any collusion or fraud through the bankruptcy court hearing for Atlantic Club late last week, it is hard to miss the reality that purchaser Caesars Entertainment already owns four casinos in Atlantic City, snatched it up for the fire sale price, and will likely gain somewhat by having one less casino to compete against in town.
Then again, one other properties in Atantic City probably won’t be crying over losing one of the own, either.
Regardless, the Atlantic Club employee base in attendance wasn’t convinced.
‚the thing that is worst is they are doing it simply to prevent competition,‘ said Fran Critch through tears; Critch has been a meals server at the property for 29 years, now fears she’s going to have to put her home on the block if she myfreepokies.com aren’t able to find another task quickly. She isn’t keeping down a lot of expect that to happen, either.
‚Who’s going to employ a 59-year-old server?‘ Critch wondered aloud.
Some Severance; No Pension Add-Ons
For those facing no jobs in just a little over fourteen days, the prospects are scary; the judge approved a deal that provides all of some 1,600 workers at the casino simply $1,500 in severance pay. And while their pension plans will not be dissolved, they also will get no further contributions to them; an reality that is unnerving those nearing retirement, no question.
Are you aware that remaining portion of the game plan, Tropicana Entertainment has decided to fork over $8.4 million for all your property’s slots and video gaming tables, while Caesars is spending $15 million the lowest ever paid for an Atlantic City casino to own the hotel that is 800-room (even though company doesn’t have plans to keep it going), and a casino spokesperson said the intent is always to divvy up most of the residual equipment among Caesars‘ four Atlantic City properties.
The sale shall bring Atlantic City’s ailing casino market right down to 11 properties. New Jersey’s Division of Gaming Enforcement Director David Roebuck says this will be just the truth of where in actuality the beachside resort town is at these times.
‚We realize this is often a time that is difficult the employees of Atlantic Club and all those whom are area of the history of their operation,‘ Roebuck stated. ‚[but competition that is nothing new for New Jersey and it’ll be no different in 2014.‘