New Y<span id="more-92169"></span>ork 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 president says the concluding decision will not be influenced by the Empire State’s leader.

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

Tonight’s meeting will see the Board pay attention to reopening the putting in a bid procedure for a resort in the Southern Tier.

That area of the state is everyone that is lobbying through nyc Governor Andrew Cuomo in a effort to make its case that the region, located near the Pennsylvania edge, is deserving of the 4th and last license reserved for upstate New York.

Even the fact that the Southern Tier is still in the game is a bit of a success for local politicians and residents. The region was partnered with the Finger Lakes as a solitary region in the casino putting in a bid process, and between the two, were only promised a solitary license. This 1 ultimately went to the Lago Resort and Casino, a Finger Lakes proposition that was larger compared to the bids developing of the Southern Tier.

But individuals in the region felt they’d been passed over in the casino procedure, when on the same day they were denied licensing, a hydraulic fracturing (or ‘fracking) ban was placed into invest the state, which could leave the Southern Tier in dire economic straits. That resulted in appeals to the continuing state Gaming Commission and Governor Cuomo to give the area another chance.

New Meeting Could Open 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 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 Southern Tier at this meeting.

That doesn’t sit well with many lawmakers and other observers throughout hawaii. Some believe other areas of New York should also have the chance to bid for that 4th license if it becomes available, while other people question how much influence Governor Cuomo has in the casino process.

Hudson Valley Officials Want a Shot

At one point in the bidding process, it seemed likely that the fourth casino would wind up in the Catskills/Hudson Valley area, which was probably the most profitable 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 intense there, Orange County Executive Steve Neuhaus believes that the area should really be part of any conversation over the final casino license.

‘Given the possibility that is distinct casino gambling in New Jersey could expand outside of its current Atlantic City location, including the Meadowlands, it makes sense for brand New York jobs and revenue that the absolute most effective areas in southern New York be included in this discussion,’ read a statement from Neuhaus.

Cuomo’s Influence Questioned

There are also concerns that Cuomo, who pledged to permit the board to work independently, has already established influence that is too much the licensing process.

‘Every time he says something, he does the opposite when it doesn’t turn out of the method he wants it to turn out,’ stated Assemblyman James Tedisco (R-Schenectady). ‘If you’re going to state something is independent, keep it independent.’

But members of the facility location board state they’ve been in a position to act independently, without any stress from the governor’s office, and that your decision on the Southern Tier will come from them, not from Cuomo.

Washington State Gets Its Very Own Online Poker Bill

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

A Washington State on-line poker bill has arrived unexpectedly at the opening for the state’s new legislative session this week.

The bill to legalize and regulate 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 on the ongoing legislative efforts in Ca, and the occasional debate in Pennsylvania concerning the possibility of regulation, Washington’s bill ambushed us out of nowhere.

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

Lawmakers managed to make it a course C felony in 2006, with Section 9.46.240 of this state’s gambling legislation declaring that whoever ‘knowingly transmits or gets gambling information by telephone, telegraph, radio, semaphore, the Internet, a telecommunications transmission system, or means that are similar is violating 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 maybe not get quite this far, although we should point out that no body in Washington State has ever been prosecuted for the work of playing internet poker.

Washington Online Poker Initiative

It is probably the draconian nature of area 9.46.240 that has driven the push for legislative change in this state that is relatively liberal.

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

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

‘It did actually me that Washington State had just been written off regarding internet poker, which I discovered unsettling to say the minimum. 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 single legislative candidate prior to the 2014 elections.

Representative Appleton has become a 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 handful of legislators I dedicated to. I got in touch with her again following the election, and she easily took on the bill for us.’

A Blueprint for future years

The bill itself believes that lots of regarding the legislative details should be fleshed out by the Gaming Commission and thus will not propose an amount of taxation, nor does it make no reference to bad actors.

It will, however, recommend that there should be two levels of licensing, one for system operators and something for consumer-facing online poker rooms, and it might also leave the door open for interstate pool sharing, at the governor’s discretion.

Moreover, there is additionally a hope that the bill may one day serve as a blueprint for other states looking to legalize online poker in the long run.

‘ Having the big operators serve as companies, with local skins competing for players, creates the best opportunity for wide participation, without splintering player liquidity. The more regional interests able to participate, the less opponents there will be among them,’ said 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 method, 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 had been a bid to ease some of its astronomical $23 billion debtload, nearly all which will be held by the product. CEOC listed around $12.4 billion in assets and $19.9 billion in liabilities in Chapter 11 documents on Thursday.

The subsidiary and its affiliates employ about 32,000 people across the United States 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 the fact that its ‘business as always’ for several of its gambling enterprises.

‘The properties across the entire 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 continue to make advantages through the Total Rewards loyalty program, and we remains entirely concentrated on delivering the same outstanding solution and unforgettable entertainment experiences guests came to expect from Caesars Entertainment. Moving forward, we shall continue to build up and deliver brand new, revolutionary hospitality experiences to our guests.’

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.

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 week follows months of settlement and litigation between Caesars as well as its bondholders.

Caesars countered that these creditors try ‘to wreak havoc on the orderly procedure the debtors, their professionals, plus the many consenting stakeholders have actually 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 worldwide Management and TPG Capital, just round the start of the global downturn that is economic.

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

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 payment.

‘We believe this restructuring is into the needs of CEOC’s stakeholders and certainly will result in a sustainable money structure for CEOC and value creation for all stakeholders,’ said Loveman.

‘The restructuring of CEOC could be the culmination of an effort that is years-long improve the health of CEOC’s balance sheet, that has included substantial investment in new and upgraded assets, especially in Las Vegas. I am really confident in the future prospects of our enterprise, which will combine a capital that is improved with a community of lucrative properties.’

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

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