Brand New York Governor Andrew Cuomo urged a situation board to reconsider a Southern Tier casino, but the board's chairman states the ultimate decision will not be affected by the Empire State's leader.
This new York Southern Tier is waiting on pins and needles for the results of a casino licensing conference with the State Gaming Facility Location Board tonight.
Tonight's meeting will see the Board give consideration to reopening the bidding process for a resort in the Southern Tier.
That section of the state was everyone that is lobbying through New York Governor Andrew Cuomo in a effort to make its case that the region, located near the Pennsylvania edge, is worthy of the fourth and final license reserved for upstate New York.
Even the fact that the Southern Tier is still in the game is just a bit of a success for neighborhood politicians and residents. The area was partnered with the Finger Lakes as a solitary area in the casino bidding process, and between the two, were only guaranteed a license that is single. This one ultimately went to the Lago Resort and Casino, a Finger Lakes proposition that was larger compared to the bids being released of the Southern Tier.
But people in the location felt that they'd been passed over in the casino procedure, when in the same time they were denied licensing, a hydraulic fracturing (or 'fracking) ban was put into place in hawaii, which could leave the Southern Tier in dire economic straits. That generated appeals to the continuing state Gaming Commission and Governor Cuomo to supply the area another chance.
New Meeting Could Open Bidding for Fourth License
That led Cuomo to interest the Gaming Facility Location Board, which often made a decision to hold a gathering on Tuesday night in nyc to take into account reopening the bidding in the Southern Tier.
Because the board originally only recommended three casinos for upstate New York, there is certainly still a license that is fourth could potentially be awarded. While that license was originally up for grabs in all three upstate regions, however, the board will simply be considering offering it to the tier that is southern this meeting.
That doesn't sit well with many lawmakers and other observers throughout hawaii. Some believe other aspects of New York should also provide the opportunity to bid for that 4th license if it becomes available, while others question how much influence Governor Cuomo has in the casino procedure.
Hudson Valley Officials Want a Shot
At one point in the bidding procedure, it seemed likely that the fourth casino would become in the Catskills/Hudson Valley area, which was probably the most lucrative area and saw the most interest from major casino firms. Given its proximity to New York City and the fact that regional competition could be intense there, Orange County Executive Steve Neuhaus believes that the region must certanly be an integral part of any conversation over the casino license that is final.
'Given the distinct possibility that casino gambling in New Jersey could expand outside of its current Atlantic City location, such as the Meadowlands, it makes sense for brand New York jobs and revenue that the most productive regions in southern New York be included in this discussion,' read a statement from Neuhaus.
Cuomo's Influence Questioned
You will find also concerns that Cuomo, who pledged to permit the board to the office independently, has had influence that is too much the licensing process.
'Every time he says something, he does the opposite when it willn't turn out the means he wants it to prove,' stated Assemblyman James Tedisco (R-Schenectady). 'If you're going to state something is independent, keep it independent.'
But members of the facility location board say they have been in a position to act separately, without any force from the governor's office, and that the decision in the Southern Tier comes from them, not from Cuomo.
Washington State Gets its Online Poker that is own Bill
Washington State's current poker that is online are draconian, which has prompted the push for legislative change. (Image: livingmylifeaway.wordpress.com)
A Washington State on-line poker bill is here unexpectedly at the opening for the state's new session that is legislative week.
The bill to legalize and regulate online poker, known as HB 1114, is sponsored by Representative Sherry Appleton (D), and comes as a complete shock to industry observers.
While all eyes have been in the ongoing legislative efforts in California, and the debate that is occasional Pennsylvania about the possibility of regulation, Washington's bill ambushed us out of nowhere.
The actual fact that Washington State is the state that is only of Union when the actual act of playing online poker is unlawful makes the news headlines even surprising.
Lawmakers caused it to be a course C felony in 2006, with Section 9.46.240 of this state's gambling law declaring that anyone who 'knowingly transmits or receives gambling information by phone, telegraph, radio, semaphore, the online, a telecommunications transmission system, or means that are similar is violating the law.
This implies that, theoretically at least, playing online poker could secure you a jail sentence of up to five years and a $10,000 fine.
Even Utah, where all forms of gambling are strictly illegal, including lotteries, does maybe not go quite this far, although we should point out that no one in Washington State has ever been prosecuted for the work of playing on-line poker.
Washington Internet Poker Initiative
It is perhaps the draconian nature of part 9.46.240 that has driven the push for legislative change in this casino-online-australia.net relatively liberal state.
Certainly, the main crux for the new bill is that prohibition does not work properly, and neither does it adequately protect residents associated with state, many of whom carry on to play online poker illegally in unregulated offshore markets.
This is also the message that is crusading of Woodward, of the Washington online Poker Initiative, whoever tireless efforts in opposing prohibition have helped make the proposed legislation a truth.
'It seemed to me that Washington State had just been written off online that is regarding, which I found unsettling to state the least. Someone had to step-up and raise the issue or we would be a forgotten little corner in the Northwest,' Woodward told PokerNews this week. 'I had reached out to every single candidate that is legislative to the 2014 elections.
Representative Appleton is a huge cosponsor on a few tries to reduce or take away the penalty that is criminal players, and she was initially receptive of the idea and was one of a number of legislators I dedicated to. I got in touch with her again following the election, and she readily took on the bill for all of us.'
A Blueprint for future years
The bill itself believes that numerous of the legislative details should be fleshed out by the Gaming Commission and so will not propose an amount of taxation, nor does it make no reference to bad actors.
It will, however, suggest that there must be two levels of licensing, one for community operators and one for consumer-facing online poker rooms, and it could also leave the door open for interstate pool sharing, during the governor's discretion.
Moreover, there is also a hope that the bill may one time serve as a blueprint for other states trying to legalize internet poker in the future.
' Having the big operators provide as systems, with local skins competing for players, creates the maximum possibility for wide participation, without splintering player liquidity. The greater interests that are local to participate, the less opponents there will be among them,' stated Woodward.
Caesars Entertainment Goes for Bankrupt, While Creditors Decry Restructuring Plan
Caesars Palace is run by Caesars Entertainment Operating Company, Inc., which has filed for Chapter 11 bankruptcy. However, all Caesars properties will continue to be open during the process, says CEO Gary Loveman. (Image: lasvegas.se).
Caesars Entertainment Corp. (CEC) announced the filing of voluntary Chapter 11 bankruptcy this week for its main working unit, Caesars Entertainment Operating Company Inc. (CEOC).
The move was a bid to alleviate some of its astronomical $23 billion debtload, the majority of that is held by the device. CEOC listed around $12.4 billion in assets and $19.9 billion in liabilities in Chapter 11 documents on Thursday.
The subsidiary and its own affiliates employ about 32,000 people over the United States and run 44 gaming and resort properties in 13 states, since well as in five other countries, including the flagship Caesars Palace in Las Vegas.
However the core message from the parent business is that its 'business as always' for many of its gambling enterprises.
'The properties across the whole Caesars Entertainment network are open and will run without interruption throughout CEOC's reorganization process,' stated Gary Loveman, the CEO of CEC and chairman of CEOC, in a statement that is official Thursday.
'Our visitors will continue to earn benefits through the Total benefits loyalty system, and our team remains entirely focused on delivering the same outstanding service and unforgettable entertainment experiences guests have come to expect from Caesars Entertainment. Going forward, we shall continue to build up and deliver brand new, innovative hospitality experiences to our guests.'
We Come to Bury Caesars…
But Caesars isn't away from the woods yet, because it faces a revolt from the lower-level creditors, who accuse the debt restructuring plan it has resolved with its major creditors of unjustly protecting the organization's passions at the cost of these own.
While CEOC files for bankruptcy in Chicago, this band of lower-level creditors will be in a federal court in Delaware attempting to phone a temporary halt to the Chicago case and to stop the restructuring plan from going through as drafted. The move this follows months of negotiation and litigation between Caesars and its bondholders week.
Caesars countered why these creditors try 'to wreak havoc on the orderly procedure the debtors, their professionals, plus the many consenting stakeholders have actually been planning for months.'
Good Caesars / Bad Caesars
Caesars acquired nearly all of its debt whenever it went private in 2008, following a $30.1 billion takeover by Apollo Global Management and TPG Capital, simply around the onset of the global downturn in the economy.
As the recession hit the land-based casino industry in America, the group, using its 50 casinos across the United States, suffered.
Caesars has lost cash every since 2009, and has struggled to pay the interest on its enormous debt year. It recently posted 2014 Q3 losses of $908.1 million and month that is last on a $225 million repayment.
'We believe this restructuring is in the best interests of CEOC's stakeholders and will result in a capital that is sustainable for CEOC and value creation for several stakeholders,' said Loveman.
'The restructuring of CEOC may be the culmination of an effort that is years-long improve the wellness of CEOC's balance sheet, that has included substantial investment in new and upgraded assets, especially in Las Vegas. I am really confident in the foreseeable future prospects of our enterprise, which will combine a capital that is improved with a system of lucrative properties.'
However, Caesars' disgruntled creditors have accused Apollo and TPG of attempting to develop a 'good Caesars,' that will have its famous and properties that are valuable and a 'bad Caesars' to put up your debt.