Genting Gambles in Florida with Uncertain Outcomes

Genting Gambles in Florida with Uncertain Outcomes

A rendering of one portion of the proposed Resorts World Miami Genting myfreepokies.com casino resort project; the $3 billion project nevertheless hasn’t received a sign that is high Florida lawmakers.

They do say money speaks, but in Genting Resorts World’s case, it’s perhaps not been speaking as loudly as the ongoing company might like.

The asian gambling conglomerate has largely met with nothing but resistance despite pouring $236 million into a 14-acre waterfront Miami spread back in 2011 and then sprinkling millions more into pressuring state politicians to ‘adapt’ a construction law to accommodate a new $3 billion resorts World Miami casino project. Therefore they’ve now determined for a new, less direction that is cumbersome the Sunshine State: a slots-only task that would pair them up with Gulfstream Park racetrack in Miami’s Key Biscayne area.

Antagonists Await

Of course, anytime a potential casino that is new turns up in a state, the first thing that happens is some type of anti-gaming coalition forms; and Florida has been no exclusion compared to that rule. Anti-casino group NoCasino.org is also releasing a movie mid-January called Pushing Luck that claims to show a ‘sobering glimpse’ of ‘broken promises’ from casino operators.
According to Genting’s new partner Gulfstream, the racetrack holds an as-yet-unused gaming license that has the potential for use with in either Miami-Dade or Broward counties, as the track rests simply between the 2 areas. Gulfstream also brought home this aspect last summer time with a three-horse event that happened on their property, which takes place to just discuss the Broward county line into Miami-Dade.
But the event might have backfired, as Florida video gaming commissioners later filed a complaint against the race track for said event, so the certification issue remains confusing, and unsupported by the abilities that could need to approve it. The proposed Genting project would also break precedent, as until now, only Native American tribes have been able to offer slots without a real racetrack on the property.
With horse racing still an important factor of Florida’s economy, the brand new pairing developed an innovative offering to tempt both lawmakers and regulators to bless their new union; Genting and Gulfstream say they would share a number of their profits with Florida’s breeders, trainers and owners, an offer that sits mighty well with the Florida Thoroughbred Horsemen’s Association. FTHA CEO Lonny Powell has even gone therefore far as to say this makes it a ‘game-changing’ deal, saying ‘this is the partnership that is first the revenue stream and investment would really go back to the horses.’

Two-Hour Tours

Up to now, Genting was offering only ‘cruises to nowhere’ in actuality, thrice-daily sailings between Miami and the company’s Resorts World Bimini casino in the nearby Bahamas, which conveniently rests just 50 miles from the Sunshine State’s coastline. During the two-hour trips, fast-acting gamblers could play any games they wanted to on board, and that included recreations betting; in exchange for that business possibility, Genting is always to cough up $11 million to go towards fixing up Miami’s ports, plus a yearly $7 million rental fee that will extend for at least the next decade.
A wrench had been thrown in the time and evening cruise excursions year that is late last nonetheless, whenever the U.S. Customs and Border Protection told Genting these were only to use U.S.-based workers on the trips. a battle that is legal; but Genting ultimately had to concede, as maritime regulations that could apply to other Miami-based cruise lines apparently don’t apply once the ship does maybe not actually dock in a foreign slot and does not require passenger passports, either.
With that decision, Genting scale back on its cruise operations away from Miami, saying they can’t manage to make a crew that is all-american.
And that’s not all the issues that have plagued the day-trippers either; pier issues in Bimini have actually meant Genting needs to anchor off-shore and then ferry small teams back and forth, a real possibility that not only consumes up time and manpower, but has proved to be unpleasant for passengers in inclement weather.
Despite all these obstacles and projected losses of $11 million for 2014 Genting is evidently not considering getting out of the cruise business day. And clearly, regardless of how stormy the seas, they plan to remain the course in Florida, one way or another.

Maine Gambling Enterprises Oppose Expanded Gambling in State

Most people think about Maine like this, but a small casino contingent is attempting to hold their own there since well. (Image: Katarina Neef/atpm.com)

We might not agree with them, but we understand there are plenty of reasons that people may oppose more gambling in their state, from moral objections to worries about problem gambling. However in Maine, gambling is finding an unusual opponent: the casinos by themselves.

Read Our Lips: No New Casinos

Officials from the two Maine casinos presently in procedure talked to lawmakers this and said that they shouldn’t approve any expansion of the casino industry in the state week. In cases like this, it seems that the casinos think that the market in the state is completely saturated already while others believe they’re simply afraid of a competition that is little.

The two properties under consideration the Hollywood and Oxford Casinos faced off while watching Joint Standing Committee on Veterans and Legal Affairs against members of two native tribes that are american the state, plus the owner of the Scarborough Downs race track, over a number of bills that would serve to expand Maine’s gambling options.

The absolute most controversial of these is recognized as LD 1111. It could enable Scarborough Downs to become a ‘racino,’ operating slot machines along with their horse that is current racing. That problem had been brought to referendum last year, whenever it received only 45 % of the vote statewide.

Factional Battles

According to track owner Sharon Terry, Scarborough Downs is struggling as a result of competition it faces from the casinos in the state particularly Oxford Casino, which can be simply 45 minutes away and opened in 2012 june. Even though Hollywood Casino may away be further, it has a companion racino, allowing it to offer everything Scarborough Downs can and more.

Terry says that revenues fell 21.8 % at her track since slots were allowed during the Bangor race track, and that the situation is getting worse considering that the opening of the Oxford Casino. The cut in revenue not only threatens the track, but also Maine’s entire horse racing industry since Scarborough Downs is responsible for 101 days of racing each year.

‘The Downs cannot survive under the laws that are current’ Terry said.

Nonetheless, the general managers of both gambling enterprises along with several companies within the Oxford area disagreed, opposing slots that are allowing the Scarborough Downs facility. In basic, the gambling enterprises feel that any gambling that is new the state threatens to ‘cannibalize the industry,’ as Maine is a relatively small state without enough gamblers to help more venues.

That helps explain why they also opposed three other bills being considered by hawaii. Those incorporate a bill that would allow charities to run up to five slots at their headquarters in order to raise funds, in addition to two bills that would allow Indian tribes to grow their gambling operations: one that would let the Houlton Band of Maliseets to operate slots and table games, and another that will let the Passamaquoddy Tribe apply to run table games and slots at a existing bingo facility.

‘Should further facilities available or expand, we would see further erosion of our customer base,’ said John Osborne, general manager of the Hollywood Casino.

Big Banks Refuse to Process Legal Online Gambling Transactions

Major credit card issuers like Chase, Wells Fargo and American Express will not process even legal on the web gambling transactions, they say. (Image: Jason Hindley/money.cnn.com)

Every thing seemed so hunky dory: Nevada, Delaware and brand New Jersey all got legal online gambling or at least poker, in Nevada’s case up and running in 2013, and with the exception of a few problems with geo-location snafus, overall, the web sites in all three states have been running pretty smoothly. Except for one bug that is fairly major has nothing at all to do with the sites on their own: major economic organizations like American Express, Wells Fargo and J.P. Morgan Chase are refusing to process any cash interactions on these sites, legal or not.

Your Transaction Was Denied

Whether credit or debit, several heavy-hitter credit card providers say they aren’t gambling when it comes to honoring their cards on Web gaming web sites. And clearly, that’s not sitting well with many players whom say, what gives? But the banks included say they will not budge, not for online casinos, poker or also legal activities betting in Nevada.

‘We never let credit card transactions for this activity,’ said Steve O’Halloran, manager of public relations and public affairs for Chase Card and Merchant Services. And American Express spokeswoman Sanette Chao concurs, saying her company simply ‘prohibits the use of the card for gambling services.’

While some may conclude that this will be some type of moral imperative, it ends up that it’s more of a simple bottom-line business decision than anything else.

‘Gambling services, historically, account for a lot of card member credit losses and customer service disputes,’ noted Chao.

UIGEA Still Directs Banks’ Positions

And some banking institutions do still hold onto the old UIGEA model (Unlawful Internet Gambling Enforcement Act of 2006), because, all things considered, from the federal standpoint, it is still murky exactly how it is to be interpreted after having a 2012 reinterpretation of the first 1961 Wire Act had been handed down from the Supreme Court that opened the entranceway to at minimum state-by-state lawful online gambling.

Wells Fargo spokeswoman Natalie Brown states this will be the reasoning behind her company’s decision to decline gambling deposits.

‘In compliance with regulation GG (Unlawful Internet Gambling Enforcement Act of 2006), we prohibit making use of consumer credit cards for Web gambling,’ said Brown, who is vice president of customer lending communications with Wells Fargo. ‘The companies (Visa, MasterCard and American Express) monitor the merchant category codes and block costs that do not adhere to federal regulations.’

While this may earn some feeling from their views, it could prove a annoying reality for online players in appropriate gambling states.

‘What the industry has done is take a conservative approach or a reaction to the legalization of online gambling,’ said Tobin Prior, CEO of Ultimate Gaming, which is really a subsidiary of Station Casinos, a land-gaming proprietor in Nevada and the first ever to go online with legal poker in the Silver State. ‘That can be frustrating, but we work with customers to find options.’

Certainly one of the advantages of this brick-and-mortar/Internet symbiosis is that clients can both fund and cash down at any of these land video gaming properties, in either Southern Nevada or at Station’s land gaming partner the Taj Mahal in Atlantic City. Players can also use e-checks or cable transfers to prior make deposits noted.

While legal websites on the internet might wish that banks had been more in their court right now, Caesars WSOP site’s spokesperson Seth Palansky claims it really is what it really is.

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