North Nj-new Jersey Casino Expansion Right Back on State’s Agenda

North Nj-new Jersey Casino Expansion Right Back on State’s Agenda

North nj-new Jersey casino expansion: State Senate President Steve Sweeney wants residents to vote in the problem in 2016 november.

North nj wants to provide Atlantic City a run for the money. And brand New Jerseyans may get the right yet to vote for casino expansion beyond the Boardwalk.

State Senate President Steve Sweeney has reintroduced legislation calling for the referendum on whether two new casinos should be built in the part that is north of state, throughout the water from brand New York City, breaking AC’s longstanding monopoly.

The bill proposes that a vote that is state-wide the issue simply take place in November 2016.

The question of North Jersey casino expansion has been muted before. Atlantic City has experienced from the legalization of casino gaming within abutting states, and increased competition ended up being a major factor in four Atlantic City casino closures into the last two years.

Pennsylvania legalized casino gaming in 2007, and recently overtook its neighbor in gaming revenue. Meanwhile, New York State and Massachusetts have actually both opted to license their casinos that are first the emergence among these new markets will certainly damage the nj-new Jersey market.

Strategic Importance

But North Jersey’s proximity to Manhattan plus the New York greater metropolitan area makes it a strategically beneficial location for casinos, which Sweeney believes would lure droves of gamblers across the Hudson.

‘The question of gaming outside of Atlantic City has long been debated,’ Sweeney said. ‘ Now is the right time for the voters to decide. Expanding gambling to North Jersey is the best means to revitalize an industry that is very important to your state’s economy making sure that we can compete with neighboring states, generate the revenue needed seriously to revive Atlantic City and contribute to economic growth.’

The bill would guarantee that no casinos that are new be built within 75 miles of Atlantic City and that gambling enterprises within the north would pay a much higher income tax on their gaming profits compared to the eight per cent presently paid by Atlantic City casinos.

High Taxes

Tricky Rock Global while the Meadowlands Racetrack, which want to build a casino in East Rutherford, home to this New York Giants and New York Jets, have agreed to pay as much as 55 percent in taxes.

Forty-nine percent of the taxation revenue would then go to Atlantic City to compensate for the inevitable loss of business, while another 49 percent would head to counties and municipalities, while the remaining two percent would benefit New Jersey’s horse industry that is racing.

Opinions remain deeply divided in the presssing issue, particularly with Atlantic City itself.

‘North Jersey gambling enterprises would be disastrous for our neighborhood economy, driving jobs and investment out of our area,’ said mayor that is former Whelan on Twitter this week.

Present financial reports suggest that AC is bouncing back and that the town’s casino profits were up 55.9 percent in Q3 this year. However, Moody’s Investment Analysts warned that this had been more likely a reflection associated with casino that is recent, that have boosted revenues for those that remain. Moody’s said it expected further closures in the year ahead.

Sheldon Adelson Confirmed as Brand New Las Vegas Review-Journal Owner

Who’s The Boss? Apparently, it is now Sheldon Adelson, who has assumed control for the Las Vegas Review-Journal, Nevada’s newspaper that is largest. (Image: politico.com)

Sheldon Adelson has been unmasked because the new owner associated with Las Vegas Review-Journal, having been exposed by the very paper he had anonymously purchased a week earlier.

As reported here previously this week, LVRJ staff had been puzzled and a little dismayed to master Thursday that is last that newspaper had been sold up to a mystery owner for $140 million.

All they were told ended up being that the newly incorporated company, News + Media Capital Group, was now during the helm and they ought to ask forget about concerns.

‘They want you to definitely focus on your jobs … don’t be worried about whom these are typically,’ was the pep talk made available from one Michael Schroeder, a News + Media Capital Group supervisor at the very first staff meeting under the brand new ownership.

And while Schroeder assured staff that their editorial independence would not be compromised by their new mystery owner, a front web page story on the sale that evening was redacted at Schroeder’s request to get rid of references towards the proprietor’s anonymity.

Demands Transparency

It was not just LVRJ’s people who had been alarmed, as other journalists began calling for transparency too, and the whole story spread as speculation grew. The sale of a newspaper to an owner or organization that refuses to be identified is unprecedented in media history as Esther Thorson, research director for the Reynolds Journalism Institute at the Missouri School of Journalism, told the Los Angeles Times.

Moreover, the premium price paid by the buyer recommended they were thinking about buying clout that is political rather than considered financial investment, which made it all the more crucial that their identification and affiliations be disclosed.

The fact that LVRJ is the dominant media outlet in the swing that is early-voting of Nevada suggested to a lot of that the buyer might be a rich conservative, and Adelson’s name began to be cited by speculative commentators.

Public Statement

Meanwhile, confronted with a conundrum, RJ staff did what good journalists do: they started digging for answers. Or as Schroeder had put it, they ‘focused on their jobs.’

Sources sooner or later revealed that Patrick Dumont, Adelson’s son-in-law and senior vice president of finance and strategy at Las Vegas Sands Corporation, had brokered the deal between News + Media Capital Group and its own former owner, New Media Investment Group.

‘He [Dumont] handles all the investments for the household,’ claimed A lvrj supply.

For most of the LVRJ staff knew, they might have been risking their jobs by printing the whole story, but that does not seem to be the case. Instead, the Adelson family made a announcement that is formal of ownership of the magazine just hours after the story broke.

Meanwhile, whatever Adelson’s particular reason for getting their fingers on the LVRJ, be it business or politics, their position at the helm might well sit uneasily with most journalists. Adelson currently has newspapers in Israel, but he is also had a tendency to individually sue journalists, for libel in the past.

One journalist that is such current LVRJ columnist John L. Smith, whoever 8-year-old daughter ended up being enduring from mind cancer tumors at the time of the litigation. His daughter ultimately survived, but Smith had been pushed into bankruptcy.

Adelson eventually decided to dismiss the case with prejudice, after Smith’s lawyer successfully argued that the case had been not about defamation, but about Adelson making an exemplory case of people who crossed him.

The suit was in reaction to a probing book that included information Adelson had considered defamatory, in place of anything Smith had written at the Review-Journal. It is interesting to see how that relationship unfolds with this new saga.

RAWA Dead into the Water for 2015

Representative Jason Chaffetz, who introduced RAWA towards the House and floundered during a recently available hearing that is congressional online gaming. (Image: nbcnews.com)

The Restoration of America’s Wire Act (RAWA) has unsuccessful to attach itself to an omnibus investing bill that would have seen it sail through Congress.

The bill proposes a ban that is federal all types of online gambling with the exception of horseracing and fantasy sports.

RAWA supporters had anticipated that they could tag the bill onto the must-pass Consolidated Appropriations Act, 2016, a monstrous 2007-page little bit of legislation that largely outlines federal fiscal outlays between now plus the end of 2016.

In such a way, they hoped, RAWA would be passed into law with as little fuss as possible, much such as the Unlawful online Gambling Enforcement Act was slipped onto the end of legislation created to regulate port security a decade ago.

It was the exact same strategy, in reality, used in 2014, when RAWA also missed the omnibus. Fortunately for America’s online gambling industry, it may have to wait a time that is long the next one to arrive . 12 months, become precise.

And since RAWA in its present form is very unlikely to be accepted by both chambers, sneaking onto that bus without having a ticket perhaps remains its option that is best.

RAWA Flounders

The legislation is unpopular with many lawmakers as the Sheldon Adelson-backed bill smacks of business cronyism.

Meanwhile, many of the Republican mega-donor’s natural allies into the GOP decry it as a violation that is unconstitutional of Tenth Amendment that seeks to stymie states’ rights, while Democrats who might normally disapprove of online gambling are loathe to attach themselves to a policy created by Adelson.

A initiative that is recent drum up support to push RAWA on the line failed when Missouri Attorney General Chris Koster and Southern Carolina Attorney General Alan Wilson exhorted fellow attorneys basic to countersign a letter cooking RAWA.

Only eight AG’s were prepared to put their name to the initiative.

Controversially, one of those was Nevada AG Adam Laxalt, whose 2014 election campaign received funding from Adelson. Laxalt had been heavily criticized by Nevada Governor Brian Sandoval for his actions, and many felt he had betrayed the Silver State, which opted to legalize and manage on-line poker in late 2013.

Adelson Re-raise

Representative Jason Chaffetz (R-Utah), who introduced RAWA to the House in the beginning into the 12 months, fared no better at A house hearing that is recent of legislation, which he himself chaired, because of the somewhat charged title: ‘A Casino in Every Smartphone: Law Enforcement Implications.’

Chaffetz had presumably hoped it would be sufficient to trot every clich&eacute that is tired of the anti-online gambling movement, with lazy sources to terrorism, money-laundering and youngster corruption, except so it didn’t quite exercise that way, therefore the arguments against regulation took a drubbing.

For RAWA, it seems, the chips are down.

Except Adelson has just tossed in a massive reraise.

His purchase of the nevada Review-Journal may provide him extra clout in his bid to achieve political capital and shape viewpoints on online gambling in the video gaming capital of America.

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