Station Casinos Chairman Frank Fertitta III is 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 main casino conglomerates in America has some brand new constituents. It should make for an interesting year ahead as these casinos’ executives determine the program for gambling in the usa, and in particular, online gambling.
Wynn Comes Back
Joining this powerhouse organization a group tasked largely with persuading federal legislators to take action where it’s required in terms of gaming will be Wynn Resorts Ltd., Station Casinos, and upscale Kentucky Derby racetrack and casino operator Churchill Downs Inc. Each of these companies will likely then have a member that is official their interests in the AGA’s board of directors.
Coming back to the business that he initially founded right back in 1995 will be casino magnate Steve Wynn, chairman of his eponymous business, and obviously certainly one of the gaming industries more invigorated proponents. After he offered his Mirage Resorts to that which was then called MGM Grand Corp. back in 1999, Wynn had walked away from the corporation. Their views on online gaming are somewhat circumspect, so it will be interesting to see which method he goes on this board as they push for more federal oversight.
Another player that is significant think about it board is going to be Frank Fertitta III, whom is Station Casinos’ chairman and thus clearly on the medial side of Internet gambling expansion; his business’s UltimatePoker web site ended up being the first to ever go appropriate online in Nevada, as well as 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 pivotal year for the AGA; the business’s first and just president, Frank Fahrenkopf Jr., stepped down this past 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 affected its makeup products.
Freeman noted that using the involvement of these industry that is major, ‘a critical step in the AGA’s development as a representative associated with the entire video gaming industry [has taken place].’
However with these brand new power players may come some divisiveness as well; Fertitta will obviously be into the cheering area for legal Internet video gaming, as his Ultimate Gaming now operates online in both Nevada and nj-new Jersey, while long-time member and Las Vegas Sands Corporation Chairman Sheldon Adelson would offer their right supply or at the very least many of his billions to put the kaibosh on it once and for all.
Although the AGA it self takes the state stand of being pro-Internet gambling, new president Freeman told GamblingCompliance.com that ‘we’re not the first association to possess members disagree on an issue…[and while] other associations may well not have people with similar resources [as Adelson] to express their point of view…this happens in associations most of the time.’
Revere and Mohegan Sun Strike Casino Deal in Massachusetts
The city of Revere, Massachusetts could benefit financially if Mohegan Sun’s casino ever becomes play lightning link slot machine online a reality
There isn’t any guarantee that Suffolk Downs and the Mohegan Sun will be able to create a casino in the populous city of Revere, Massachusetts. In fact, the project that is whole may seem like a long shot to simply about everybody else whom isn’t directly included in promoting it. But should the town and the companies involved overcome the chances, they’ll certainly be exchanging a whole lot of cash within the years into the future.
Pay to relax and play
Mohegan Sun arrived to a contract utilizing the city of Revere that may see the casino firm pay the town $33 million up front, in return for allowing them to run a casino during the Suffolk Downs racetrack; the project that is billion-dollar feature 4,000 slot devices, 100 game tables, and a poker space . That could simply be the first of numerous payments, however, as the casino would continue making annual repayments to the town starting at a minimum of 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 deal reflects the proven fact that Mohegan Sun will be the only operator under the present proposal for the casino on land owned by the race track. Suffolk Downs would provide simply as a landlord, rather than operating the facility.
If you’ve been paying attention to the ongoing saga of the Suffolk Downs casino, you know that this could be the second attempt to build a casino attached to the battle track. The first attempt, which will have built a casino on the East Boston side of the line between Boston and Revere, ended up being rejected by East Boston voters, even as Revere voters authorized it.
That proposal would were significantly less lucrative for Revere, which maynot have hosted any for the buildings that are major towards the facility. Under that host agreement, Revere was expected to get a minimum of $9 million each year.
Revere Could Make Bank
Now, the city can expect to produce at least three times that amount. In addition, Rizzo said that the host agreement language which is anticipated to be produced general public soon could enable the populous city to receive also higher payments in the event that casino manages to become extremely lucrative.
The money raised through the payments would be used to give income tax 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 since the thousands of jobs that may be developed as reasons why the deal would be a good one for the city.
‘We’re going to drive a tremendous amount of success for this city and trigger a upswing that is huge the economic situation around here,’ said Mohegan Tribal Gaming Authority primary executive Mitchell Etess.
But inspite of the texting, there are people who intend to organize in opposition to the Revere proposition. While Boston’s Mayor-Elect Martin J. Walsh says that he’s not sure if Boston has a right in law to stop the casino move and which he would like to negotiate a surrounding community agreement aided by the casino designers members of anti-casino group No Eastie Casino plan to work alongside those in Revere who oppose the casino to defeat the coming referendum. They are going to be joined by a group from Palmer where Mohegan Sun has already lost a casino vote that claims that the casino company purposely destroyed the referendum there to ensure it could then try again in the more lucrative better Boston area.
Mixed Emotions as Judge Okays Atlantic Club Shutdown
The end of an age: Atlantic City’s Atlantic Club is closing its doors on January 13 for good (Image: Edward Lea/PressofAC)
Each time a veteran casino closes down, for the buyers and sellers, it’s just business. But for the casino’s employees, it is the loss of a work, and sometimes, a career that is life-long. Such is the way it is for the Atlantic Club open for the previous 33 years in Atlantic City, and originally produced by iconic casino magnate Steve Wynn which will be closing down for good come 13, 2014, per Judge Gloria Burns’ orders of the court january.
Employees Weigh In
As she did so, the loaded courtroom reflected the casino’s large workforce, who filled every chair; numerous have been employed there almost since its inception. Take bartender Joe Blatcher, whom says he is witnessing not merely the increasing loss of his very own job, but what he sees as nefarious dealings between the city’s power players.
‘It’s a matter of the entire city wanting to eliminate a few properties so your sleep can nevertheless exist,’ Blatcher decried. ‘It appears very suspicious that two casinos can form teams to just take down another one. It’s like thinning out the herd to endure.’
They say it’s true in nature, so why perhaps not among the wildebeests of gambling as well?
While Judge Burns noted there was clearly no concrete proof of any collusion or fraud through the bankruptcy court hearing for Atlantic Club late a week ago, it is hard to miss the reality that purchaser Caesars Entertainment already owns four casinos in Atlantic City, snatched it up for the fire purchase price, and will likely benefit somewhat by having one less casino to compete against in town.
Then again, the other properties in Atantic City probably won’t be crying over losing one of their own, either.
Regardless, the Atlantic Club employee base in attendance wasn’t convinced.
‘The worst thing is they truly are doing it simply to avoid competition,’ said Fran Critch through tears; Critch has been a food server at the property for 29 years, now fears she’ll have to put her home on the block if she can’t find another work quickly. She isn’t keeping down a lot of hope for that to occur, either.
‘Who’s going to employ a server that is 59-year-old’ Critch wondered aloud.
Some Severance; No Pension Add-Ons
For those facing no jobs in somewhat over fourteen days, the prospects are scary; the judge approved a deal that gives all of some 1,600 workers during the casino just $1,500 in severance pay. And while their pension plans won’t be dissolved, they also will get no further contributions to them; an reality that is unnerving those nearing retirement, no doubt.
Are you aware that rest of the game plan, Tropicana Entertainment has decided to fork over $8.4 million for all the property’s slots and gaming tables, while Caesars is spending $15 million the lowest ever paid for an Atlantic City casino your can purchase the 800-room hotel itself (even though the company doesn’t have plans to keep it going), and a casino spokesperson said the intent is to divvy up most of the residual gear among Caesars’ four Atlantic City properties.
The purchase shall bring Atlantic City’s ailing casino market down seriously to 11 properties. New Jersey’s Division of Gaming Enforcement Director David Roebuck says this might be just the truth of in which the beachside resort town are at these days.
‘We realize it is a time that is difficult the employees of Atlantic Club and all those who have already been area of the history of their procedure,’ Roebuck said. ‘[But] competition is nothing new for New Jersey and it will be no different in 2014.’