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Alabama Bill Would Establish State Lottery and Legalize Casino Gaming

Бер 05 2020 Published by under Slots Of Vegas Casino

Alabama Bill Would Establish State Lottery and Legalize Casino Gaming

Republican Senate President professional Tem Del Marsh: ”Hundreds of Alabama dollars are going to Mississippi, Florida, Tennessee and Georgia to play in their lotteries, their gambling enterprises,’ he says.

Gambling reforms are underway in Alabama because of the efforts of Republican Senate President Pro Tem Del Marsh, whose bill, SB 453, seeks to determine a state lottery as well as legalize gambling at their state’s four greyhound songs.

Del Marsh launched their legislative push just days after a report he commissioned himself concluded hearts of vegas casino slots that gambling expansion could generate up to $400 million for the state.

The research, conducted by the Auburn University of Montgomery, also discovered that gambling expansion would create around 11,000 jobs in Alabama.

Del Marsh is promoting SB 454 as a viable alternative to the $541 million income tax hike proposed by Governor Robert Bentley.

‘ I say let the individuals of Alabama vote,’ proclaimed Del March. ‘The choice is clear to me: would you like to raise fees by $700 million or do would like a lottery and casino gaming that will produce $400 million and create 11,000 new jobs without having to raise taxes? Individuals of Alabama should determine this concern for themselves, and nobody else.’

Alabama Dollars

The bill would view a lottery established by the Alabama that is newly-formed Lottery, as well as the creation of the Alabama Lottery and Gaming Commiss Continue Reading »

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Wynn Resorts Dividends Slashed Following Macau Slump

Бер 05 2020 Published by under Slots Of Vegas Casino

Wynn Resorts Dividends Slashed Following Macau Slump

Wynn Resorts share dividends took a nosedive this week because of results that are poor Macau gambling.

Wynn Resorts Ltd is passing on the pain of the drop that is sharp Macau gambling to its shareholders by cutting dividends by 67 percent, Bloomberg reports.

The gambling chain, which owns and runs the Wynn Macau casino resort, posted its earnings for the first quarter of 2015 this week, and the news isn’t pretty if you should be an investor.

Revenue was hovering just under $1.1 billion, a diminished figure than industry estimates of $1.12 billion.

As a result, dividends from shares spiraled downwards to 50 cents per share. That is a 3rd for the $1.50 settled in February.

Wynn Resorts Ltd also posted a $17.1 billion dining table games turnover in the VIP sector, a fall of over 52 per cent set alongside the exact same quarter year that is last. Table games return in the mass market sector ended up being also down, by 7% to $279.6 million.

Following the dividends results were announced, Wynn shares dropped 9 percent to close at $130.48.

Macau Clampdowns everyone that is affecting

The crackdown that is continuing corruption in China is having a huge effect regarding the Macau economy. Chinese President Xi Jinping has been on a crusade the previous year or so to end thousands of public officials removing towards the Macau peninsula with public funds.

The amount of money allowed to be brought from the mainland to Macau, China’ Continue Reading »

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Carl Icahn, Stephen Sweeney Go At It Over Atlantic City’s Gambling Future

Бер 05 2020 Published by under Slots Of Vegas Casino

Carl Icahn, Stephen Sweeney Go At It Over Atlantic City’s Gambling Future

Carl Icahn accuses New Jersey State Senate President Stephen Sweeney of selling out Atlantic City by supporting a north Jersey casino.

Business Carl that is mogul Icahn nj-new Jersey State Senate President Stephen Sweeney exchanged harsh terms final Friday, with each accusing the other of selling out some portion of Atlantic City for their very own gain. The war of words started after Sweeney participated in protests with union employees from the Trump Taj Mahal, protests of which Icahn proved to become a target that is major.

As we reported earlier this week, those protests were built to fight against a Trump Entertainment want to use of a contract and cut pensions and benefits for workers to be able to cut costs and keep the casino open.

The organization states that the casino will have to close on November 13 unless numerous concessions are granted to it, including the cutbacks in worker benefits and $25 million in help from hawaii, along side a tax assessment that is reduced.

Workers Blame Icahn

But Icahn turned out to be a figure that is major the protests. The protesters demonstrated near the Tropicana, which is owned by a group led by Icahn, and numerous see him as the true threat to the benefits and wages offered by their current positions. In bankruptcy court, Trump Entertainment has requested permission to turn its venue over to Icahn by converting the debt he holds in the company into ow Continue Reading »

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Revere to Sue Massachusetts Gaming Commission Over Everett License

Бер 05 2020 Published by under Slots Of Vegas Casino

Revere to Sue Massachusetts Gaming Commission Over Everett License

Suffolk Downs Racetrack will be forced to close after the Revere casino that is unsuccessful bid.

The City of Revere near Boston will sue the Massachusetts Gaming Commission over its decision to award the East Massachusetts casino video gaming license to Wynn Resorts over Mohegan Sun. Mohegan Sun, which wished to create a $526 million casino on land owned by the Suffolk Downs Racetrack in Revere, lost the license battle month that is last a protracted bidding process which cost both sides vast amounts, and at times descended into tit for tat recriminations.

While Wynn now focuses on its vision to build a resort in Everett, just a few miles to the eastern, Revere is left to pick up the pieces and mourn the resulting closing associated with historic Suffolk Downs thoroughbred racetrack.

The horseracing industry had been hit with a 40 percent reduction in recent years and it ended up being believed that the proposed Mohegan Sun resort would be enough to save lots of Suffolk Downs, whose owners had pledged to carry on running for at least another 15 years should win the license revere.

In reality, the necessity to protect Suffolk Downs was among the primary motivations for the establishment of the 2011 Gambling Act, which expanded casino gaming in the state and created the Massachusetts casino that is east license. The decision to go with Wynn Resorts has hammered the final nail into the thoroughbred horserac Continue Reading »

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