Harrah’s New Orleans says the cigarette ban imposed by the town an ago this week has negatively impacted its gambling revenues and needs to be held accountable for the casino’s downward spiral year.
Harrah’s New Orleans say the citywide smoking ban is shuffling up revenues in the wrong direction.
Statistics supplied by the Louisiana Gaming Control Board seem to back those claims up. Gross gambling revenue at Harrah’s New Orleans totaled $23.9 million in March, down nearly 21 percent from the $30.2 million the casino generated in the same month during 2015.
Since 2007, all Louisiana workplaces and restaurants have been smoke-free, but the law don’t apply to casinos and bars. Following a unanimous New Orleans City Council vote and Mayor Mitch Landrieu’s (D) signature, a city ordinance went into impact on April 22, 2015, that banned smoke smoking and vaping on the casino floor.
‘ Slot revenue, Harrah’s largest source of revenue, was impacted probably the most with slot revenue down 17 percent in the time scale after the ordinance’s impact compared to prior year,’ Harrah’s spokeswoman Jade Brown-Russell reported. ‘In the 12 months influenced by the smoking ban, Harrah’s has experienced gaming income decreases in 10 of the 12 months.’
Clash of the Ash
Supporters of the air that is clean state Harrah’s is merely searching for a scapegoat to position blame.
‘That’s been a trend over the final few years,’ Louisiana Campaign for Tobacco-Free residing Associate Director Tonia Moore stated of the financials. ‘I know many people want to connect that because of the smoke-free ordinance, but regrettably we still cannot connect that to being the sole purpose with regards to their revenues declining.’
Beneath the legislation, gamblers must leave a video slot or dining table game to smoke a cigarette in an area that is designated.
Moore’s place is also with merit, as Boomtown New Orleans, located south of this town in Jefferson Parish and not in the smoking cigarettes ban, also saw its revenues get south. Year-over-year, Boomtown reported an earnings decrease of 2.3 percent.
Pennsylvania Sets Record
Smoking in Pennsylvania’s 12 land-based casinos is still permitted, though in certain smoker-friendly gaming areas. Alternatively of a ban that is outright Keystone State lawmakers and local government officials opted to allocate up to 50 % of this casino flooring to smokers, though all dining areas are 100 % smoke-free due to the Pennsylvania Clean Indoor Air Act.
The compromise seems to be working.
In March, Pennsylvania gaming facilities reported a month that is record dining table revenues as the gambling enterprises raked in $77.9 million. That figure is probably the most ever into the state’s six-year history permitting blackjack, roulette, poker, as well as other tables.
Sheldon Adelson’s Sands Bethlehem yet again led the way by posting $19.6 million in dining table receipts.
Slots also claimed higher profits in March, with the casinos posting a combined $211.2 million from the devices. In total, the Pennsylvania Gaming Control Board said gaming rose 4.2 percent during the month that is 31-day.
Considering casinos pay an effective income tax rate of 55 percent on slots and 14 percent on dining table games, one of this greatest tariffs of any state with legalized gambling, Harrisburg politicians are clearly welcoming the increased income as they continue in an attempt to find new methods to fund swelling expenditures.
Bangladeshi Police Hunting 20 Individuals in Fed Bank Heist
Kim Wong, who is facing money laundering charges in the Philippines, has now returned $9.8 million associated with money stolen from the Fed Bank. (Image: conceptnews.central.com)
Bangladeshi police have actually identified 20 individuals they believe of experiencing involvement in the $101 million Federal Reserve Bank of ny heist. The list comprises eight Filipinos and 12 Sri Lankans.
On February 5 hackers flooded the Fed Bank with requests for transfers totaling almost $1 billion from an account owned by the Bangladeshi government. The hackers posed as officials associated with the Bangladesh Central Bank, having introduced spyware in to the Bangladesh bank’s server, which allowed them to process and authorize the transactions
Some $20 million associated with $101 million successfully withdrawn was traced to Sri Lanka and has since been restored, whilst the remaining $81 million was utilized in Philippine bank RCBC, and from here made its method using a remittance firm in to the lightly regulated casino industry that is philippine. Much of this remains unrecovered.
The lead police investigator within the situation, Shah Alam, said he wishes to trace ‘at least 20 people from multiple foreign nations’ in relation to the heist.
‘We’ve found concrete evidence that these individuals were involved with the heist,’ he said Monday. ‘we can’t disclose their identity during the minute as it can hamper our investigation.’
Alam said they had found no evidence that employees of the Bangladesh Central Bank were associated with installing the malware on its computers. However, he said that police were investigating whether a service that is third-party to the bank have been negligent in building adequate cyber-security systems.
Investigators would seek the assistance of Interpol in apprehending the individuals, said Alam, adding that he had passed the findings regarding the investigation to the Philippine government.
Wong Makes Right
Meanwhile, Kim Wong, a Chinese nationwide surviving in the Philippines who was initially identified by Philippine politicians as the ‘mastermind’ and ‘missing link’ within the heist, has returned a further $4.34 million for the stolen funds, along with the $5.5 million he relinquished last thirty days.
Wong, who is the supervisor of the Eastern Hawaii Casino into the Cagayan Economic zone in the Philippines, has freely attended government hearings into the nation so as to explain how $21 million of the stolen money ultimately ended up in various reports he controlled.
He claims the money was brought into the Philippines by two casino that is high-rolling agents named Gao Shuhua and Ding Zhize. These men owed him $10 million in gambling debts, he stated, which he was paid by them while the rest had been converted into chips for VIP gamblers.
Whenever asked why he hadn’t enquired in regards to the source of the money, he said, ‘You don’t ask, it is disrespectful.’
It is not known whether Wong or his two friends that are high-rolling among the 20 sought by Bangladesh.
Connecticut DFS Legislation Could Endanger Tribal Rev Sharing Compacts, Says AG
Connecticut Attorney General George Jepsen, who warned there is a ‘high degree of uncertainty’ surrounding the notion that DFS contests are not gambling. (Image: stamfordadvocate.com)
Connecticut’s plans to pass legislation authorizing day-to-day fantasy sports hit a snag this week when attorney general George Jepsen warned that the proposal may be in violation regarding the state’s revenue-sharing compact with its tribal operators.
At problem is the 8.75 percent surcharge on total entry charges that Connecticut’s DFS bill wishes to charge sites like DraftKings and FanDuel for the privilege of offering contests to convey residents.
Also at issue may be the question of whether or not fantasy that is daily comprises gambling. Supporters associated with bill state it willn’t; that the contests really are a game of skill, and so exempt from Connecticut’s criminal gambling guidelines.
Place for Doubt on DFS
But as Jepsen emphasized this week, there was an abundance of room for question on this point. He additionally noted that if DFS games are indeed games of skill, there is no need to pass a bill to exempt them.
Connecticut’s tribal operators, the Mohegans additionally the Mashantucket Pequots, which run Mohegan Sun and Foxwoods respectively, are the only entities permitted to provide gambling that is commercial the state beyond the pari-mutuel wagering available at racetracks.
Connecticut has permitted the two gambling enterprises on tribal sovereign lands since the first nineties in exchange for a 25 percent cut of the profits.
Nevertheless the tribes are likely to strongly object to your state sanctioning operations that could be construed as gambling, particularly whenever these operations are paying a smaller cut, they offered any official opinion on the DFS legislation although it should be noted that tribal officials have not testified at tribal hearings, nor have.
Legislation Unlikely to pass through In 2010
‘There presently exists a high level of uncertainty about whether fantasy that is daily contests constitute games of skill or games of chance,’ penned Jepsen.
‘ No one can predict with any level of certainty what sort of court, if faced with these issues, would rule. The state’s revenue-sharing arrangements utilizing the Tribes. with that uncertainty comes the chance that legislation of the kind proposed could invest jeopardy’
The General Assembly’s Finance Revenue and Bonding Committee, which recently passed a tax plan that factored in the DFS surcharge, had hoped that the scheme would create $9.5 million as part of a technique to plug a $922 million deficit into the state budget. But in the light of the AG’s comments this week, lawmakers are conceding that that is now unlikely to take place.
‘Due to the risk and uncertainty that could result from a potential challenge that is legal the possibility of passing legislation this session is not likely,’ Senate President Martin Looney, (D-New Haven).
MGM Springfield Uproots Historic Church While Massachusetts Lawmakers Advise Against Southeast Commercial Casino
The MGM Springfield has effectively relocated the 129-year-old historic First Spiritualist Church in Springfield, Massachusetts, to make method for its $950 million casino resort scheduled to open in 2018.
200 yards and five-and-a-half hours later, land previously occupied by this historic church is now clear for the MGM Springfield. (Image: Dina Rudick/Boston Globe)
The church was moved on Tuesday some 200 yards from where it stood since 1887 after weeks of preparation. The journey took hours that are five-and-a-half or a blistering 1.8 feet each and every minute.
Of course, speed was of small concern as preservation associated with eminent building and assurance of its integrity had been paramount for the team that is moving. When all was said and done, the 200-yard voyage cost MGM $800,000.
‘Today’s church relocation marks a milestone that is exciting this project,’ MGM Springfield VP of Construction and Development Brian Packer told reporters.
Springfield Mayor Domenic Sarno (D) placed a fun twist on his remarks by stating, ‘we think in the event that you look at this is now of ‘Holy Roller,’ that might fit the bill.’
Among the primary concerns among regional residents with building the MGM Springfield in the location developers and MGM professionals preferred was how the mega-resort might impact the area’s historical buildings.
MGM committed to both the Springfield Historical Commission and Massachusetts Historical Commission so it would simply take every step possible to assure the spot that it wouldn’t be bulldozing its means through the city. Instead, MGM claims its goal is always to protect the rich history of Springfield.
‘Once visitors pull off the highway and into our strategically located parking garages, those who wish to go through the many historic, cultural, business, and academic draws that Springfield provides, will be associated with Union facility and other central https://academized.me/ areas by a trolley system,’ the MGM Springfield web site explains.
Lawmakers Warn Gaming Commission
The Massachusetts Expanded Gaming Act passed last year called for the issuance of licenses for three resort that is commercial facilities in three split regions.
The Wynn Everett, now called Wynn Boston Harbor, and MGM Springfield claimed the first couple of spots representing the central and western sections. But Region C, the part that is southeast of state comprising Bristol, Plymouth, Nantucket, Dukes, and Barnstable counties remains up for grabs.
The Mashpee Wampanoag Tribe is currently constructing a $1 billion casino on its native land in Taunton. The tribe, which doesn’t need state approval to create this type of facility on its own reservation, would spend a 17 percent income tax on its gambling revenues unless Massachusetts violates the gaming lightweight and allows a casino that is commercial be built within 25 miles of Taunton.
Rush Street Gaming has proposed a $677 million gambling resort in Brockton and was anticipated to receive approval by the Massachusetts Gaming Commission (MGC) when the governing body suits next week to discuss Region C.
Seven state lawmakers are advising the MGC to vote against the Brockton resort as the Mashpee would be allowed by it Wampanoag Tribe to work a casino tax-free.
‘ We have serious concerns that total revenue collection by the Commonwealth is not being given the consideration it deserves,’ the coalition penned in a letter to the MGC this week.