Brand New York Southern Tier Gets Another Look Today from Casino Licensing Board

 Brand <span id="more-10851"></span>New York Southern Tier Gets Another Look Today from Casino Licensing Board

Brand New York Governor Andrew Cuomo urged a state board to reconsider a Southern Tier casino, but the board’s chairman claims the concluding decision will not be influenced by the Empire State’s frontrunner.

This new York Southern Tier is waiting on pins and needles for the outcomes of a casino licensing meeting with the State Gaming Facility Location Board tonight.

Tonight’s meeting will see the Board consider reopening the bidding procedure for a resort in the Southern Tier.

That section of the state happens to be lobbying everybody up through ny Governor Andrew Cuomo in a effort to make its case that the region, located near the Pennsylvania edge, is deserving of the fourth and last license reserved for upstate New York.

Even the known fact that the Southern Tier is still in the game is really a bit of a success for regional 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 promised a license that is single. That certain ultimately went to the Lago Resort and Casino, a Finger Lakes proposal that was larger compared to the bids being released of the Southern Tier.

But people in the region felt that they’d been passed over in the casino procedure, when on the same day they had been denied certification, a hydraulic fracturing (or ‘fracking) ban was placed into devote the state, which could leave the Southern Tier in dire economic straits. That resulted in appeals to the continuing state Gaming Commission and Governor Cuomo to provide the area another chance.

New Meeting Could Start Bidding for Fourth License

That led Cuomo to interest the Gaming Facility Location Board, which in turn chose to hold a meeting on night in New York City to consider reopening the bidding in the Southern Tier tuesday.

Because the board originally only recommended three casinos for upstate New York, there is 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 Southern Tier at this meeting.

That does not sit well with many lawmakers and other observers throughout the state. Some believe that other areas of New York should likewise have the opportunity to bid for that fourth license if it becomes available, while other people question how much influence Governor Cuomo has in https://casino-online-australia.net/ladbrokes-casino-review/ the casino procedure.

Hudson Valley Officials Want a Shot

At one point within the bidding process, it seemed likely that the 4th casino would become in the Catskills/Hudson Valley area, which was probably the most lucrative area and saw the many 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 thinks that the area is part of any discussion over the casino license that is final.

‘Given the possibility that is distinct casino gambling in nj could expand outside of its current Atlantic City location, including the Meadowlands, it’s a good idea for brand New York jobs and revenue that the absolute most productive regions in southern New York be included in this discussion,’ read a statement from Neuhaus.

Cuomo’s Influence Questioned

There are also issues that Cuomo, who pledged allowing the board to the office independently, has had too much influence in the licensing process.

‘Every time he says something, he does the alternative when it willn’t turn the way out he wants it to prove,’ said Assemblyman James Tedisco (R-Schenectady). ‘If you are going to say something is independent, keep it independent.’

But members of the facility location board say they are able to act individually, without any force from the governor’s office, and that your choice regarding the Southern Tier will come from them, not from Cuomo.

Washington State Gets Its Very Own Online Poker Bill

Washington State’s current internet poker laws are draconian, which has prompted the push for legislative change. (Image: livingmylifeaway.wordpress.com)

A Washington State online poker bill has arrived unexpectedly at the opening of the state’s brand new legislative session this week.

The bill to legalize and control poker that is online 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 on the ongoing legislative efforts in California, and the periodic debate in Pennsylvania concerning the possibility of regulation, Washington’s bill ambushed us out of the blue.

The very fact that Washington State may be the state that is only of Union in which the actual act of playing online poker is illegal makes the headlines even surprising.

Lawmakers managed to make it a course C felony in 2006, with Section 9.46.240 of the state’s gambling legislation declaring that anybody who ‘knowingly transmits or gets gambling information by telephone, telegraph, radio, semaphore, the Internet, a telecommunications transmission system, or means that are similar is breaking the legislation.

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 kinds of gambling are strictly illegal, including lotteries, does perhaps not get quite this far, although we should mention that no one in Washington State has ever been prosecuted for the act of playing on-line poker.

Washington Online Poker Initiative

It is perhaps the draconian nature of part 9.46.240 that has driven the push for legislative change in this relatively liberal state.

Certainly, the primary crux associated with brand new bill is that prohibition does not work properly, and neither does it adequately protect citizens associated with the state, many of whom carry on to play internet poker illegally in unregulated offshore markets.

This is also the message that is crusading of Woodward, of the Washington Internet Poker Initiative, whoever tireless efforts in opposing prohibition have helped make the proposed legislation a reality.

‘It appeared to me personally that Washington State had just been written off online that is regarding, which I discovered unsettling to state the minimum. Someone had to intensify and raise the problem or we will be a forgotten corner that is little the Northwest,’ Woodward told PokerNews this week. ‘I had reached out to every single legislative candidate prior towards the 2014 elections.

Representative Appleton is a huge cosponsor on a few tries to reduce or remove the criminal penalty on players, and she was initially receptive of the idea and was certainly one of a small number of legislators I focused on. We got in touch with her again after the election, and she easily took on the bill for people.’

A Blueprint for the Future

The bill itself believes that numerous of this details that are legislative be fleshed out by the Gaming Commission and so doesn’t propose a degree of taxation, nor does it make no reference to bad actors.

It does, however, recommend that there ought to be two levels of licensing, one for network operators and one for consumer-facing online poker rooms, and it would also leave the door open for interstate pool sharing, during the governor’s discretion.

Moreover, there is additionally a hope that the bill may one day act as a blueprint for other states seeking to legalize internet poker in the long run.

‘ Having the top operators serve as systems, with neighborhood skins competing for players, creates the greatest possibility for wide participation, without splintering player liquidity. The greater local interests able to participate, the fewer opponents there will be among them,’ stated Woodward.

Caesars Entertainment Goes for Bankrupt, While Creditors Decry Restructuring Arrange

Caesars Palace is run by Caesars Entertainment Operating Company, Inc., which has filed for Chapter 11 bankruptcy. However, all Caesars properties will stay open during the procedure, states 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 had been a bid to ease some of its astronomical $23 billion debtload, nearly all which can be held by the product. CEOC listed around $12.4 billion in assets and $19.9 billion in liabilities in Chapter 11 documents on Thursday.

The subsidiary and its affiliates employ about 32,000 people over the US 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 company is that its ‘business as always’ for all of its gambling enterprises.

‘The properties across the complete 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 formal statement on Thursday.

‘Our visitors will stay to make benefits through the Total benefits loyalty program, and our team remains entirely concentrated on delivering the same outstanding service and unforgettable entertainment experiences guests attended to expect from Caesars Entertainment. Moving forward, we shall continue to build up and deliver brand new, innovative hospitality experiences to our visitors.’

We Come to Bury Caesars…

But Caesars isn’t away from the woods yet, it has worked out with its major creditors of unjustly protecting the company’s interests at the expense of their own as it faces a revolt from its lower-level creditors, who accuse the debt restructuring plan.

This group of lower-level creditors will be in a federal court in Delaware attempting to call a temporary halt to the Chicago case and to stop the restructuring plan from going through as drafted while CEOC files for bankruptcy in Chicago. The move this follows months of negotiation and litigation between Caesars and its bondholders week.

Caesars countered that these creditors are trying ‘to wreak havoc on the process that is orderly debtors, their professionals, plus the many consenting stakeholders have been preparing for months.’

Good Caesars / Bad Caesars

Caesars acquired most of its debt whenever it went private in 2008, following a $30.1 billion takeover by Apollo Global Management and TPG Capital, simply across the start of the global downturn in the economy.

As the recession hit the land-based casino industry in the usa, the group, having its 50 gambling enterprises across the US, suffered.

Caesars has lost cash every year since 2009, and has struggled to pay for the interest on its enormous debt. It recently posted 2014 Q3 losses of $908.1 million and month that is last on a $225 million repayment.

‘We think this restructuring is into the needs of CEOC’s stakeholders and certainly will result in a capital that is sustainable for CEOC and value creation for all stakeholders,’ said Loveman.

‘The restructuring of CEOC is the culmination of an effort that is years-long improve the wellness of CEOC’s stability sheet, that has included substantial investment in brand new and upgraded assets, especially in Las Vegas. I’m very confident as time goes by prospects of our enterprise, which will combine an improved capital framework with a community of lucrative properties.’

However, Caesars’ disgruntled creditors have accused Apollo and TPG of attempting to create a ‘good Caesars,’ that may acquire its famous and properties that are valuable and a ‘bad Caesars’ to put up your debt.

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