Everett Mayor Carlo DeMaria ended up being among a small grouping of Massachusetts mayors and town leaders whom rejected the claims in an anti-casino study that is recent.
Some Massachusetts mayors and town executives in the state have blasted a casino research that claims new resorts would hurt lottery profits for cities and towns here. Anti-casino advocates are using the research to recommend that the economic advantages of adding gambling enterprises 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, that was released by Repeal the Casino contract, local lottery profits could drop by as much as 22 % 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 utilized to relax and play the lottery change 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 metropolitan areas where casinos and slot parlors have now been approved) is rejecting these figures, saying that other analysts have come up with entirely results that are different. Based on the leaders that are municipal any lottery losses will be short-term, and would be more than offset by the latest revenues introduced by the casinos.
'These claims are totally inconsistent utilizing the other studies about results on local aid sufficient reason for the experience of real-money-casino.club other states lottery that is regarding,' the officials said in a statement released by the Committee to Protect Massachusetts work.
To back up these statements, the group cited studies commissioned by the state of Massachusetts, because well as other people from the more Boston Chamber of Commerce and the middle for Policy review at UMass Dartmouth. Not just did those studies suggest that the large losses predicted by Repeal the Casino Deal were unrealistic, however they even offered some evidence that within the run that is long lotteries weren't harmed at all by the development of casinos.
' In fact, lottery profits in Connecticut have doubled because the inception of casinos, and lotteries in Maine, Maryland, Ohio and Pennsylvania have all continued to grow, even as those states introduced gaming,' the statement read.
Repeal the Deal Fires Back
However the anti-casino group behind the study pointed out that they utilized the Massachusetts Gaming Commission's own revenue estimates to come calmly to their findings. Since almost all state lottery income 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.'
So far, the state Gaming Commission has approved licenses for 2 casino tasks: an MGM casino in Springfield, along with a Wynn Resorts task in Everett. A slots parlor has also been authorized for Plainville.
Nonetheless, the future of those facilities remains up in the air. Anti-casino advocates have successfully placed a concern on the November ballot asking voters if they would want to repeal the law that allowed for these casinos become certified; a 'yes' vote would end plans to build the venues.
But anti-casino campaigners are facing an uphill fight. Not only are the casinos definitely better funded within their campaigns to beat back the repeal effort, but recent polling has shown that most voters plan to vote to keep the casinos.
Carl Icahn Taj Mahal Bankruptcy Needs Hit Casino Union
Lawyers for Carl Icahn say that the Taj Mahal will only survive if it is permitted to break its contract with union employees. (Image: Scott Eells/Bloomberg)
Carl Icahn's solicitors have told a bankruptcy court that he will not keep the Taj Mahal (formerly Trump Taj Mahal) available unless the judge cancels the casino's union contract. That statement mirrors earlier statements from Icahn, though the exact nature of their demands is revised somewhat since the rather 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 home's parent company, just couldn't afford to keep the Taj Mahal open unless the judge ruled in their benefit and permitted them to break their current contract with the union.
'if you don't grant the…motion, it's just not viable as a continuing company,' Brilliant said in court. ' Without that, staying in the pension plan, ultimately very quickly the casino shall close. This is the window here; the screen is available.'
Convert Debt into Ownership
Trump Entertainment and Icahn making the effort to push through a plan that would see Icahn transform the $286 million in debt he has into the casino into ownership associated with resort. Icahn would then consent to invest another $100 million of his own money to help keep it all afloat. However, that investment is contingent on a few demands that start with all the dissolution of the current union agreement.
Beyond that, Icahn and Trump Entertainment want for significant financial help from Atlantic City and the state of New Jersey, though they've modified their needs somewhat following the really negative reaction that their first series of demands received. They are now seeking $175 million in relief via a PILOT ( re payments in lieu of taxes) program, also as two grants beingn't normally provided to casinos: the Economic Redevelopment Grant and also the Urban Revitalization Grant. The state legislature would have to approve enabling the casino to receive grants that are such.
Initially, Icahn and Trump wanted Atlantic City to lower its home income tax assessments by up to 80 percent, as well as for the continuing state to contribute $25 million more in tax credits.
Union Lawyers Call It Unfair Advantage
But lawyers for Local 54 of the Unite-HERE union stated that all of these needs, including those being made of workers as well as the state and local governments, were simply an attempt by Icahn to enhance the Taj's competitive position over other casinos during the cost of those who could least manage it.
'Let's look at the poorest associated with the stakeholders here and make sure they give up everything permanently before we're also 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 exactly how dire the situation was at the casino. According in their mind, Trump Entertainment has been selling televisions and used mattresses from the now-closed sister property Trump Plaza to be able to earn significantly more cash.
But Trump Entertainment attorney Kris Hansen countered that allowing the casino to break their union was the way that is only could survive.
'it, we have a chance to stay alive,' said Hansen if you do grant. 'The expense structure of this casino does not work, also it has to be fixed. Whenever we're successful, employees get to keep their jobs, despite the fact that they made some concession. Having task is preferable to not having a task.'
Personal Media Games Approved for Real Money NJ Online Play
Farmville has real money potential for online play; New Jersey really wants to make slots and skill-gaming hybrids a reality. (Source: www.techinasia.com).
Social media games like terms with Friends and Candy Crush could possibly be the surprising next big moneymaker for brand New Jersey online gamblers, in the event that state's Division of Gaming Enforcement (DGE) has its way.
The DGE has established it will now be accepting submissions for skill-based and social games from designers and that it's eager to begin a regulatory framework that will enable such games become incorporated into online and land-based operations into the state.
While revenue from old-fashioned slots has dropped off in the past few years, social gaming has grown in to a global multibillion dollar industry over a comparable period of time therefore the DGE clearly views the trend as an effective way to reviving New Jersey's flagging land-based casino industry, while boosting the sector that is online.
There ended up being talk that is much the recent G2E gambling industry summit in Las vegas, nevada of the state associated with the slot machine industry and a general acknowledgement that it needs to adjust and modernize in an effort to allure up to a brand new generation of players.
Young people tend to eschew traditional slots in favor of other styles of entertainment, and there is a sense that is growing the adoption of ability gaming and social games, such as Candy Crush Saga and Farmville, in a casino context may be the answer, particularly the idea of a fresh form of slots/skill-gaming hybrid.
New Jersey 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 New Jersey First effort, that was designed to revitalize the state's video gaming and tourism industries, permits treatment that is favorable video gaming items that are submitted to nj-new Jersey before just about any state. The provision allows such items two be rolled out on the casino floor within 2 weeks of evaluating and approval.
'The concept of combining skill-based and social elements to a casino game has a broad-based appeal,' stated the DGE in a press release. 'It will appeal to a larger part of this population and bring more customers to a casino's slot floor or to their Web website. Social gamers already are familiar with these kinds of games and would be ready to take to them for real-money casino gaming.'
A recent research by the organization Research and Markets shows that an average of 200 million people presently perform social games online per month, and that figure is expected to increase over the next five years. By 2019, the research predicts, the social gaming industry will be well worth $17.4 billion.
In 2012, IGT, the earth's biggest developer of gaming machines, which was recently acquired by GTECH, purchased social casino games developer Doubledown for the deal worth well over $400 million and it must be reasonable to assume that the company has been looking into the viability of social/slot hybrids. For the time being, nevertheless, the DGE is submissions that are accepting all companies and all developers, as it attempts to reconsider and reshape its gambling industry.
' Given the success of our New Jersey First program over the last three years, we have the fastest time to market for electronic gaming equipment anywhere in the country,' said 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 will work with you to definitely get them approved quickly.'