Harrah’s New Orleans Blames Cigarette Ban for Declining Profits, Pennsylvania Casinos Set Record
Harrah’s New Orleans says the cigarette ban imposed by the town a year ago this week has adversely impacted its gambling revenues and requirements become held accountable for the casino’s unpredictable manner.
Harrah’s New Orleans say the citywide smoking ban is shuffling up revenues in the wrong direction.
Statistics provided by the Louisiana Gaming Control Board seem to back up those claims. Gross gambling revenue at Harrah’s brand New Orleans totaled $23.9 million in March, down nearly 21 percent through the $30.2 million the casino created in the month that is same 2015.
Since 2007, all Louisiana workplaces and restaurants were smoke-free, but the law didn’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 effect on April 22, 2015, that banned tobacco cigarette smoking and vaping on the casino floor.
‘ Slot revenue, Harrah’s largest source of revenue, has been impacted the most with slot revenue down 17 % in the time following ordinance’s effect compared to prior year,’ Harrah’s spokeswoman Jade Brown-Russell claimed. ‘In the 12 months relying on the smoking ban, Harrah’s has experienced video gaming revenue declines in 10 of the 12 months.’
Clash of the Ash
Supporters of the clean atmosphere ordinance state Harrah’s is merely looking for a scapegoat to place blame.
‘That’s been a trend within the couple that is last of,’ Louisiana Campaign for Tobacco-Free Living Associate Director Tonia Moore said of the financials. ‘I know many people want for connecting that utilizing the smoke-free ordinance, but regrettably we still cannot connect that to being the sole purpose for their revenues declining.’
Beneath the law, gamblers must leave a slot machine or 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 populous city in Jefferson Parish and outside of the smoking cigarettes ban, also saw its revenues get south. Year-over-year, Boomtown reported an earnings decline of 2.3 percent.
Pennsylvania Sets Record
Smoking in Pennsylvania’s 12 land-based casinos remains permitted, though in certain smoker-friendly gaming areas. Alternatively of an outright ban, Keystone State lawmakers and local government officials opted to allocate up to 50 per cent regarding the casino flooring to smokers, though all dining areas are 100 percent smoke-free due to the Pennsylvania Clean Indoor Air Act.
The compromise generally seems to be working.
In March, Pennsylvania video gaming facilities reported a record month for table revenues as the casinos raked in $77.9 million. That figure is the absolute most ever in the state’s six-year history blackjack that is permitting roulette, poker, along with other tables.
Sheldon Adelson’s Sands Bethlehem once again led the method by posting $19.6 million in table receipts.
Slots also claimed higher profits in March, with the casinos publishing 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 taxation rate of 55 percent on slots and 14 percent on dining table games, one associated with the highest tariffs of any state with legalized gambling, Harrisburg politicians are certainly welcoming the increased income because they continue to try and find brand new techniques to fund swelling expenditures.
Bangladeshi Police Hunting 20 Individuals in Fed Bank Heist
Kim Wong, whom is facing money laundering fees in the Philippines, has now returned $9.8 million associated with money taken from the Fed Bank. (Image: conceptnews.central.com)
Bangladeshi police have identified 20 individuals they believe of having involvement in the $101 million Federal Reserve Bank of nyc 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 a merchant account owned by the Bangladeshi government. The hackers posed as officials regarding the Bangladesh Central Bank, having introduced malware into the Bangladesh bank’s server, which allowed them to process and authorize the transactions
Some $20 million associated with the $101 million effectively withdrawn was traced to Sri Lanka and has since been recovered, while the remaining $81 million was utilized in Philippine bank RCBC, and from here made its way with a remittance firm into the lightly regulated Philippine casino industry. Much of this remains unrecovered.
The lead authorities investigator into the situation, Shah Alam, said he wishes to trace ‘at least 20 people from numerous foreign countries’ in terms of the heist.
‘we have found tangible evidence that these folks were involved with the heist,’ he stated Monday. ‘we cannot disclose their identity at the brief moment as it might hamper our investigation.’
Alam said that they had found no evidence that employees of the Bangladesh Central Bank were involved in installing the spyware on its computers. However, he said that police were investigating whether a third-party company to the bank was indeed negligent in building adequate cyber-security systems.
Investigators would look for the assistance of Interpol in apprehending the individuals, stated Alam, adding that he’d passed the findings associated with the investigation to the government that is philippine.
Wong Makes Right
Meanwhile, Kim Wong, a Chinese nationwide surviving in the Philippines who was initially identified by Philippine politicians being the ‘mastermind’ and ‘missing link’ into the heist, has came back a further $4.34 million associated with the stolen funds, along with the $5.5 million he relinquished last month.
Wong, whom is the manager of the Eastern Hawaii Casino in the Cagayan Economic area into the Philippines, has freely attended government hearings within the nation in order to explain how $21 million of the stolen money eventually ended up in various accounts 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 they paid him as the sleep was 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’s disrespectful.’
It isn’t known whether Wong or his two high-rolling friends are 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 level of uncertainty’ surrounding the notion that DFS contests are not gambling. (Image: stamfordadvocate.com)
Connecticut’s plans to pass through legislation authorizing daily fantasy sports hit a snag this week when lawyer general George Jepsen warned that the proposal may take violation of this state’s revenue-sharing compact with its tribal operators.
At issue 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 mention residents.
Also at issue could be the question of whether or not daily dream sports constitutes gambling. Supporters associated with bill state it doesn’t; that the contests really are a game of ability, and therefore exempt from Connecticut’s criminal gambling regulations.
Room for Doubt on DFS
But as Jepsen emphasized this week, there is lots of room for doubt on this point. He also 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 and the Mashantucket Pequots, which run Mohegan Sun and Foxwoods respectively, are currently the only entities allowed to offer commercial gambling in hawaii beyond the pari-mutuel wagering available at racetracks.
Connecticut has permitted the two casinos on tribal sovereign lands since the first nineties in return for a 25 percent cut of the profits.
However the tribes tend to strongly object towards the state sanctioning operations that may be construed as gambling, particularly when these operations are paying a smaller cut, although it should be noted that tribal officials have not testified at tribal hearings, nor have actually they offered any official opinion on the DFS legislation.
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 known level of certainty how a court, if faced with these issues, would rule. The state’s revenue-sharing arrangements with all the Tribes. with that uncertainty comes the risk that legislation of the sort proposed could invest jeopardy’
The General Assembly’s Finance Revenue and Bonding Committee, which recently passed an income tax plan that factored in the DFS surcharge, had hoped that the scheme would produce $9.5 million as part of a strategy to plug a $922 million deficit in the continuing state budget. However in the light associated with AG’s comments this week, lawmakers are conceding that this might be now unlikely to occur.
‘Due to the risk and doubt that would result from a potential legal challenge, the prospect of moving legislation this session is unlikely,’ 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 help make way 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 church that is historic 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 trip took hours that are five-and-a-half or a blistering 1.8 feet each and every minute.
Of course, rate was of small concern as conservation for the eminent building and assurance of its integrity had been paramount for the team that is moving. When all was stated and done, the 200-yard voyage cost MGM $800,000.
‘Today’s church relocation marks a milestone that is exciting this task,’ MGM Springfield VP of Construction and Development Brian Packer told reporters.
Springfield Mayor https://cleopatraslot.org/star-trek-slot/ Domenic Sarno (D) placed a fun twist on his remarks by stating, ‘we think if you look at the meaning now of ‘Holy Roller,’ that might fit the bill.’
One of many primary concerns among local residents with building the MGM Springfield in the location developers and MGM executives 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 take every step possible to assure the spot that it couldn’t be bulldozing its way through the city. Instead, MGM claims its goal is protect the rich history of Springfield.
‘Once visitors pull off the highway and into our strategically located parking garages, those who want to go through the many historic, cultural, company, and scholastic draws that Springfield is offering, will be connected to Union facility and other central locations by a trolley system,’ the MGM Springfield web site explains.
Lawmakers Warn Gaming Commission
The Massachusetts Expanded Gaming Act passed in 2011 called for the issuance of licenses for three commercial resort gambling facilities in three separate regions.
The Wynn Everett, now called Wynn Boston Harbor, and MGM Springfield claimed the first two spots representing the central and sections that are western. 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 does not need state approval to construct this type of facility on its own reservation, would spend a 17 per cent taxation on its gambling profits unless Massachusetts violates the gaming compact and allows a casino that is commercial be built within 25 kilometers of Taunton.
Rush Street Gaming has proposed a $677 million gambling resort in Brockton and was anticipated to get approval by the Massachusetts Gaming Commission (MGC) when the governing body suits week that is next talk about Region C.
Seven state lawmakers are advising the MGC to vote from the Brockton resort as the Mashpee would be allowed by it Wampanoag Tribe to use a casino tax-free.
‘ We now have serious concerns that total revenue collection by the Commonwealth is not being given the consideration it deserves,’ the coalition had written in a letter to the MGC this week.