Station Casinos Chairman Frank Fertitta III are joining the American Gaming Association Board of Directors this year, along side Steve Wynn (Image: renoetahoe.com)
Just Take your seats and get ready for some head-whipping interplay between power players: the American Gaming Association (AGA) the Washington, D.C.-based main lobbying arm for the main casino conglomerates in America has some brand new constituents. It should make for an interesting year ahead since these casinos’ professionals determine the course for gambling in the United States, as well as in particular, online gambling.
Wynn Comes Back
Joining this powerhouse organization a group tasked largely with persuading federal legislators to take action where it’s required when it comes to gaming will be Wynn Resorts Ltd., Station Casinos, and Kentucky that is upscale Derby and casino operator Churchill Downs Inc. Each of those companies will then have an official user representing their interests regarding the AGA’s board of directors.
Coming back to the corporation that he initially founded straight back in 1995 will be casino magnate Steve Wynn, chairman of his eponymous business, and obviously certainly one of the gaming industries more invigorated proponents. After he offered his Mirage Resorts to what was then called play lightning link slot online MGM Grand Corp. back in 1999, Wynn had walked away from the corporation. Their views on online gaming are somewhat circumspect, as they push for more federal oversight so it will be interesting to see which way he goes on this board.
Another significant player to think about it board is going to be Frank Fertitta III, whom is Station Casinos’ chairman and therefore clearly on the side of Internet gambling expansion; his business’s UltimatePoker web site ended up being the first to ever go legal online in Nevada, therefore the entire United States. Fertitta is expected to join the AGA Board as well.
Heading up the AGA Board will be MGM Resorts International chairman Jim Murren, who is taking over for outgoing Board chair Richard Haddrill of Bally Technologies.
Hope and alter
This has been a year that is pivotal the AGA; the corporation’s first and only president, Frank Fahrenkopf Jr., stepped down this past Spring and his position was filled by travel industry expert Geoff Freeman. Recent departures by long-time management that is senior the consortium have also affected its makeup products.
Freeman noted that utilizing the involvement of these industry that is major, ‘a critical step in the AGA’s evolution as a representative for the entire video gaming industry [has taken place].’
But with these power that is new may come some divisiveness as well; Fertitta will obviously be within the cheering part for legal Internet gaming, as his Ultimate Gaming now runs online in both Nevada and nj-new Jersey, while long-time member and Las Vegas Sands Corporation Chairman Sheldon Adelson would give their right arm or at the very least many of his billions to put the kaibosh on it once and for all.
All the time. even though AGA itself takes the state stand to be pro-Internet gambling, new president Freeman told GamblingCompliance.com that ‘we’re maybe not the first association to possess members disagree on an issue…[and while] other associations may not have people with the exact same resources [as Adelson] to express their point of view…this happens in associations’
Revere and Mohegan Sun Strike Casino Contract in Massachusetts
The town of Revere, Massachusetts could benefit financially if Mohegan Sun’s casino ever becomes a reality
There is no guarantee that Suffolk Downs and the Mohegan Sun should be able to build a casino in the city of Revere, Massachusetts. In reality, the whole project still may seem like a long shot to just about everybody else whom isn’t directly involved in promoting it. But should the town and the businesses involved overcome the odds, they’ll be exchanging a lot that is whole of into the years to come.
Pay to Play
Mohegan Sun came to a contract with the city of Revere that may see the casino firm pay the city $33 million at the start, in return for allowing them to operate a casino at the Suffolk Downs racetrack; the project that is billion-dollar feature 4,000 slot devices, 100 game tables, and a poker space . That could simply be the first of numerous payments, however, as the casino would continue making annual payments to the town starting at no less than about $25 million to $30 million.
‘This agreement is definitely an deal that is extraordinary will assist us continue steadily to make the transformation of Revere a reality,’ said Mayor Daniel Rizzo.
The deal reflects the fact that Mohegan Sun will be the operator that is only the existing proposal for the casino on land owned by the race track. Suffolk Downs would serve simply as a landlord, rather than running the center.
If you’ve been attention that is paying the ongoing saga of the Suffolk Downs casino, you realize that this may be the second effort to build a casino attached to the battle track. The first attempt, which may have built a casino on the East Boston side of the line between Boston and Revere, was rejected by East Boston voters, even as Revere voters authorized it.
That proposition would were notably less lucrative for Revere, which willnot have hosted any of the major structures attached to your center. Under that host agreement, Revere was expected to be given a minimum of $9 million each year.
Revere Could Make Bank
Now, the populous city can expect to help make at least three times that amount. In addition, Rizzo said that the host agreement language which is anticipated to be made general public soon could enable the populous city to get also higher payments in the event that casino manages to become extremely lucrative.
The cash raised through the payments would be utilized to offer tax relief for property owners in Revere, as well as to enhance services and facilities throughout the city. Mohegan Sun pointed to these as well as other economic advantages such while the thousands of jobs that may be created as reasons why the deal will be a good one for the city.
‘We’re going to drive a tremendous level of prosperity for this city and result in a upswing that is huge the economic situation around here,’ said Mohegan Tribal Gaming Authority primary administrator Mitchell Etess.
But inspite of the messaging, there are people who plan to organize in opposition to the Revere proposition. While Boston’s Mayor-Elect Martin J. Walsh states that he’s not sure if Boston has a legal right to stop the casino move and that he wish to negotiate a surrounding community contract aided by the casino developers members of anti-casino group No Eastie Casino plan to work alongside those in Revere who oppose the casino to beat the coming referendum. They’ll be joined by a group from Palmer where Mohegan Sun has already lost a casino vote that claims that the casino company purposely destroyed the referendum there to ensure that it could then try again in the more Greater Boston that is lucrative area.
Mixed Emotions as Judge Okays Atlantic Club Shutdown
The end of an period: Atlantic City’s Atlantic Club will likely be closing its doors on January 13 for good (Image: Edward Lea/PressofAC)
Each time a veteran casino closes down, for the buyers and sellers, it is simply business. But also for the casino’s employees, it is the loss of a job, and sometimes, a life-long job. Such is the case for the Atlantic Club open for the previous 33 years in Atlantic City, and originally produced by iconic casino magnate Steve Wynn that will be closing down for good come 13, 2014, per Judge Gloria Burns’ orders of the court january.
Employees Weigh In
As she did so, the packed courtroom reflected the casino’s large workforce, who filled every chair; numerous have been used there almost since its inception. Take bartender Joe Blatcher, who states he is witnessing not only the increasing loss of his job that is own what he sees as nefarious dealings between your city’s power players.
‘It’s a matter of the entire city wanting to eliminate a few properties so the rest can nevertheless exist,’ Blatcher decried. ‘It seems extremely suspicious that two casinos can team up to just take straight down another one. It’s like thinning out the herd to endure.’
They say it’s true in nature, so why not among the wildebeests of gambling as well?
While Judge Burns noted there is no concrete evidence of any collusion or fraud throughout the bankruptcy court hearing for Atlantic Club week that is late last it’s hard to miss the reality that purchaser Caesars Entertainment already owns four gambling enterprises in Atlantic City, snatched it up for a fire sale price, and will probably benefit somewhat by having one less casino to compete against in town.
Then again, one other properties in Atantic City probably won’t be crying over losing one of their own, either.
Regardless, the Atlantic Club employee base in attendance was not convinced.
‘the thing that is worst is they are doing it simply to quit competition,’ said Fran Critch through tears; Critch has been a meals server at the home for 29 years, and now fears she’ll have to put her home on the block if she aren’t able to find another job quickly. She isn’t holding out a lot of expect that to happen, either.
‘Who’s going to hire a 59-year-old server?’ Critch wondered aloud.
Some Severance; No Pension Add-Ons
For those facing no jobs in only a little over two weeks, the prospects are scary; the judge approved a deal that provides all of some 1,600 workers at the casino simply $1,500 in severance pay. And while their pension plans will not be dissolved, they also will get no further efforts to them; an reality that is unnerving those nearing retirement, no doubt.
As for the rest of the game plan, Tropicana Entertainment has decided to fork over $8.4 million for all the property’s slots and video gaming tables, while Caesars is having to pay $15 million the best ever paid for an Atlantic City casino to own the hotel that is 800-room (even though the company does not have any plans to keep it going), and a casino spokesperson said the intent would be to divvy up most of the remaining gear among Caesars’ four Atlantic City properties.
The purchase will bring Atlantic City’s ailing casino market down to 11 properties. New Jersey’s Division of Gaming Enforcement Director David Roebuck says that is just the reality of where in fact the beachside resort city reaches these times.
‘We understand this is often a time that is difficult the employees of Atlantic Club and dozens of who happen area of the reputation for their operation,’ Roebuck stated. ‘[but competition that is absolutely nothing new for New Jersey and it surely will be no different in 2014.’