Brand New York Governor Andrew Cuomo urged a situation board to reconsider a Southern Tier casino, but the board’s chairman says the concluding decision will not be affected by the Empire State’s frontrunner.
The New York Southern Tier is waiting on pins and needles for the outcomes of a casino licensing meeting tonight with the State Gaming Facility Location Board.
Tonight’s meeting will see the Board consider reopening the putting in a bid process for a resort in the Southern Tier.
That part of the state has been lobbying everyone up through New York Governor Andrew Cuomo in a effort to make its case that the region, positioned near the Pennsylvania edge, is deserving of the 4th and final license reserved for upstate New York.
Even the proven fact that the Southern Tier is still in the game is really a little bit of a success for regional politicians and residents. The region was partnered with the Finger Lakes as a solitary area in the casino putting in a bid process, and between the two, were just promised a single permit. Any particular one ultimately went to the Lago Resort and Casino, a Finger Lakes proposal that was larger compared to bids coming out of the Southern Tier.
But individuals in the region felt which they’d been passed over in the casino procedure, 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 give the area another chance.
New Meeting Could Open Bidding for Fourth License
That led Cuomo to interest the Gaming Facility Location Board, which often made a decision 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 fourth license that could 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 as well as other observers throughout hawaii. Some believe other areas of New York should also have the opportunity to bid for that fourth license if it becomes available, while other people question how much impact Governor Cuomo has in the casino process.
Hudson Valley Officials Want a Shot
At one point into the bidding process, it seemed likely that the fourth casino would find yourself in the Catskills/Hudson Valley area, which was probably the most lucrative 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 area must certanly be part of any discussion over the casino license that is final.
‘Given the possibility that is distinct casino gambling in New Jersey could expand outside of its current Atlantic City location, including the Meadowlands, it seems sensible for brand New York jobs and revenue that the absolute most productive areas in southern New York be included in this discussion,’ read a statement from https://casino-online-australia.net/ladbrokes-casino-review/ Neuhaus.
Cuomo’s Influence Questioned
You can find also concerns that Cuomo, who pledged to permit the board to work independently, has received 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 prove,’ said 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 have been able to act independently, without any stress from the governor’s office, and that your choice on the Southern Tier will come from them, not from Cuomo.
Washington State Gets its Online Poker that is own Bill
Washington State’s current online poker laws are draconian, which has prompted the push for legislative change. (Image: livingmylifeaway.wordpress.com)
A Washington State internet poker bill has arrived unexpectedly at the opening regarding the state’s new session that is legislative week.
The bill to legalize and regulate poker that is online 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 in the ongoing legislative efforts in Ca, and the debate that is occasional Pennsylvania concerning the possibility of regulation, Washington’s bill ambushed us out of nowhere.
The very fact that Washington State could be the only state associated with Union where the actual act of playing online poker is unlawful makes the headlines even surprising.
Lawmakers managed to get a course C felony in 2006, with Section 9.46.240 associated with 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 means that are similar is violating the law.
What this means is that, theoretically at least, playing online poker could secure you a jail sentence of up to five years and a $10,000 fine.
Even Utah, where all types of gambling are strictly illegal, including lotteries, does not go quite this far, although we should mention that no one in Washington State has ever been prosecuted for the act of playing online poker.
Washington Internet 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 relatively liberal state.
Certainly, the main crux of the new bill is that prohibition doesn’t work, and neither does it adequately protect citizens for the state, lots of whom continue to play internet poker illegally in unregulated offshore markets.
This is also the message that is crusading of Woodward, of the Washington Internet Poker Initiative, whoever 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 online that is regarding, which I came across unsettling to say the minimum. Someone had to intensify and raise the issue or we would be a forgotten corner that is little the Northwest,’ Woodward told PokerNews this week. ‘I had reached out to every solitary legislative candidate prior to your 2014 elections.
Representative Appleton is a huge cosponsor on a few attempts to reduce or eliminate the penalty that is criminal players, and she was initially receptive of the idea and was one of a few legislators I focused on. I got in contact with her again following the election, and she readily took on the bill for us.’
A Blueprint for the Future
The bill itself believes that many associated with details that are legislative be fleshed out by the Gaming Commission and thus doesn’t propose a level 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 system operators and something for consumer-facing online poker rooms, and it could also leave the hinged door open for interstate pool sharing, during the governor’s discretion.
Moreover, there is additionally a hope that the bill may one day serve as a blueprint for other states trying to legalize poker that is online the long run.
‘ Having the top operators provide as companies, with neighborhood skins competing for players, creates the maximum possibility for wide participation, without splintering player liquidity. The greater interests that are local 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 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 working unit, Caesars Entertainment Operating Company Inc. (CEOC).
The move had been a bid to alleviate some of its astronomical $23 billion debtload, the majority of 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 people across the US and run 44 gaming and resort 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 many of its casinos.
‘The properties across the complete Caesars Entertainment network are available and will run without interruption throughout CEOC’s reorganization process,’ said Gary Loveman, the CEO of CEC and chairman of CEOC, in a statement that is official Thursday.
‘Our guests will stay to make advantages through the Total benefits loyalty system, and we remains entirely concentrated on delivering the same service that is outstanding unforgettable entertainment experiences guests came to expect from Caesars Entertainment. In the years ahead, we are going to continue to develop and deliver brand new, revolutionary hospitality experiences to our visitors.’
We Come to Bury Caesars…
But Caesars is not out of 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 negotiation and litigation between Caesars and its own bondholders.
Caesars countered that these creditors are attempting ‘to wreak havoc on the orderly procedure the debtors, their professionals, while the many consenting stakeholders have actually been planning 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 around the start of the global downturn that is economic.
As the recession hit the land-based casino industry in the usa, the group, along with its 50 gambling enterprises across the US, 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 think this restructuring is within the needs of CEOC’s stakeholders and can result in a sustainable capital structure for CEOC and value creation for all stakeholders,’ said Loveman.
‘The restructuring of CEOC may be the culmination of a years-long effort to improve the wellness of CEOC’s balance sheet, which has included substantial investment in brand new and upgraded assets, especially in Las Vegas. I am extremely confident in the foreseeable future leads of our enterprise, which will combine a capital that is improved with a network of lucrative properties.’
However, Caesars’ disgruntled creditors have accused Apollo and TPG of attempting to develop a ‘good Caesars,’ that may have its famous and properties that are valuable and a ‘bad Caesars’ to put on your debt.