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Massachusetts Mayors Blast Anti-Casino Study as Bogus

Everett Mayor Carlo DeMaria ended up being among a group of Massachusetts mayors and city leaders whom rejected the claims in a recent anti-casino study.

Some Massachusetts mayors and town executives in the state have blasted a casino study that claims new resorts would hurt lottery profits for metropolitan areas and towns here. Anti-casino advocates are using the study to suggest that the financial great things about adding casinos in Massachusetts have been overstated, and that voters should repeal the casino legislation in the upcoming November ballot referendum.

According to the research, that was released by Repeal the Casino Deal, local lottery profits could stop by up to 22 % if the new casinos are allowed to be built. Overall, the scholarly study estimates that as much as $103 million could be lost as consumers who utilized to try out the lottery turn instead to casinos.

Mayors, Town Officials Reject Research

But a group led by Everett Mayor Carlo DeMaria, Springfield Mayor Domenic Sarno and Plainville Town Administrator Joseph Fernandes (all of whom lead towns and towns where casinos and slot parlors are authorized) is rejecting these figures, saying that other analysts came up with entirely different results. Based on the leaders that are municipal any lottery losses would be short-term, and would become more than offset by the latest revenues earned by the casinos.

‘These claims are totally inconsistent with the other studies about effects on regional aid along with the experience of other states lottery that is regarding,’ the officials said in a statement released by the Committee to Protect Massachusetts work.

To back these statements up, the team cited studies commissioned by the state of Massachusetts, as well as other people from the more Boston Chamber of Commerce and the middle for Policy Analysis at UMass Dartmouth. Not only did those studies suggest that the large losses predicted by Repeal the Casino Deal were unrealistic, but they even offered some evidence that in the long run, lotteries were not harmed at simply by the development of gambling enterprises.

‘ In fact, lottery revenues in Connecticut have doubled since the inception of casinos, and lotteries in Maine, Maryland, Ohio and Pennsylvania have all continued to grow, even as those continuing states introduced gaming,’ the statement read.

Repeal the Deal Fires Back

Nevertheless the anti-casino group behind the scholarly 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 revenue switches into neighborhood 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 continuing state Gaming Commission has approved licenses for two casino tasks: an MGM casino in Springfield, along with a Wynn Resorts project in Everett. A slots parlor has also been approved for Plainville.

But, the ongoing future of those facilities is still up floating around. Anti-casino advocates have successfully placed a question in the November ballot asking voters if they would prefer to repeal the law that allowed for these casinos to be certified; a ‘yes’ vote would end plans to build the venues.

But anti-casino campaigners are facing an uphill fight. Not just are the casinos far better funded within their campaigns to beat the repeal effort back, 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 lawyers have told a bankruptcy court that he will not keep consitently the Taj Mahal (formerly Trump Mahal that is taj unless the judge cancels the casino’s union contract. That statement mirrors earlier statements from Icahn, though the nature that is exact of demands is revised somewhat since the instead public battles between him and state officials.

Speaking on behalf of Icahn, lawyer 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 available unless the judge ruled within their benefit and allowed them to break their present agreement 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, fundamentally really quickly the casino will close. This might be the window here; the window is open.’

Convert Debt into Ownership

Trump Entertainment and Icahn are attempting to push through a plan that would see Icahn convert the $286 million in debt he owns in the casino into ownership regarding the resort. Icahn would then agree to invest another $100 million of his money that is own to it all afloat. However, that investment is contingent on a series of demands that start with all the dissolution of the current union agreement.

Beyond that, Icahn and Trump Entertainment are searching for significant financial help from Atlantic City and hawaii of New Jersey, though they’ve modified their requests somewhat after the very negative reaction that their first series of demands received. These are typically now requesting $175 million in relief through a PILOT ( payments in lieu of taxes) program, too as two grants which can ben’t typically offered to casinos: the Economic Redevelopment Grant while the Urban Revitalization Grant. The state legislature might have to approve allowing the casino to receive such grants.

Initially, Icahn and Trump wanted Atlantic City to lower its home income tax assessments by as much as 80 percent, as well as for the continuing state to contribute $25 million more in taxation credits.

Union Lawyers Call It Unfair Advantage

But lawyers for Local 54 regarding the Unite-HERE union stated that all of these needs, including those being made of employees and the state and local governments, had been simply an attempt by Icahn to boost the Taj’s competitive position over other casinos during the expense of those that could least manage it.

‘Let’s glance at the poorest associated with stakeholders here while making sure they quit every thing permanently before we’re even ready 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 in the casino. According to them, Trump Entertainment has been selling televisions and used mattresses through the sister that is now-closed Trump Plaza in order to earn much more cash.

But Trump Entertainment lawyer Kris Hansen countered that allowing the casino to split their union was the only way it could survive.

‘it, we have a chance to stay alive,’ said Hansen if you do grant. ‘The price structure of this casino does not work, plus it has to be fixed. If we’re successful, employees get to keep their jobs, despite the fact that some concession was made by them. Having job surpasses not having a task.’

Social Media Games Approved for Real Money NJ Online Play

Farmville https://real-money-casino.club/slots-of-vegas-online-casino/ has real cash potential for online play; New Jersey would like to make slots and skill-gaming hybrids a real possibility. (supply: www.techinasia.com).

Social media games like Words with Friends and Candy Crush might 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 developers and that it’s eager to establish a framework that is regulatory will enable such games to be integrated into online and land-based operations within the state.

While revenue from old-fashioned slots has dropped off in the past few years, social video gaming has grown in to a international multibillion dollar industry over a comparable time period plus the DGE clearly views the trend as an effective way to reviving brand New Jersey’s flagging land-based casino industry, while boosting the sector that is online.

There had been much talk at the recent G2E gambling industry summit in Las Vegas of their state of the slot machine game industry and a general acknowledgement that it requires to adjust and modernize so as to allure to a new generation of players.

Young people tend to eschew traditional slots in favor of other styles of entertainment, and there is a growing sense that the adoption of skill gaming and social games, such as Candy Crush Saga and Farmville, in a casino context could be the answer, particularly the thought of a new types of slots/skill-gaming hybrid.

Brand 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 has been designed to revitalize the state’s video gaming and tourism industries, permits favorable treatment for gaming items that are submitted to New Jersey before virtually any state. The supply allows products that are such be rolled out regarding the casino flooring within fourteen days of assessment 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 pr release. ‘It will appeal to a larger segment of this population and bring more customers to a casino’s slot flooring or to their online website. Social gamers happen to be acquainted with these kind of games and would be prepared to try them for real-money casino gaming.’

Multibillion Industry

A study that is recent the organization Research and Markets implies that an average of 200 million people currently play social games online per month, and that figure is expected to double within the next 5 years. By 2019, the analysis predicts, the gaming that is social will be worth $17.4 billion.

In 2012, IGT, the world’s developer that is largest of gaming machines, which ended up being recently acquired by GTECH, purchased social casino games designer Doubledown for a deal worth well over $400 million and it must be reasonable to assume that the business has been looking into the viability of social/slot hybrids. For the full time being, nonetheless, the DGE is submissions that are accepting all companies and all developers, as it tries to rethink and reshape its gambling industry.

‘ Given the success of our New Jersey First system throughout the last 3 years, we have actually the quickest time to marketplace for electronic gaming equipment anywhere in the united kingdom,’ stated DGE Director David Rebuck. ‘The Division is authorized to implement this process and move ahead with products. Bring your innovative skill-based games to New Jersey and we shall work with one to get them authorized quickly.’

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