North New Jersey Casino Expansion Right Back on State’s Agenda

North 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 regarding the problem in November 2016.

North nj wants to provide Atlantic City a run because of its 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 New York City, breaking AC’s longstanding monopoly.

The bill proposes that the state-wide vote on the issue just take destination in November 2016.

The question of North Jersey casino expansion has been muted before. Atlantic City has suffered 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 both opted to license their casinos that are first the emergence of those new areas will undoubtedly damage the New Jersey market.

Strategic Importance

But North Jersey’s proximity to Manhattan and also 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 is definitely debated,‘ Sweeney said. ‚ Now is the time for the voters to decide. Expanding gambling to North Jersey is the way that is best to revitalize an industry that is essential to the state’s economy to ensure we can compete with neighboring states, generate the revenue needed 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 casinos in the north would pay a much higher tax on their gaming profits compared to the eight % currently compensated by Atlantic City casinos.

High Taxes

Complex Rock Global as well as the Meadowlands Racetrack, which want to build a casino in East Rutherford, home to the New York Giants and New York Jets, have actually offered to pay as much as 55 percent in taxes.

Forty-nine percent of the income tax revenue would then go to Atlantic City to pay for the inevitable loss of business, while another 49 percent would head to counties and municipalities, as well as the remaining two percent would gain New Jersey’s horse rushing industry.

Opinions remain deeply split regarding the presssing issue, particularly with Atlantic City itself.

‚North Jersey casinos would be disastrous for our regional economy, driving jobs and investment out of our area,‘ stated previous mayor James Whelan on Twitter this week.

Recent financial reports suggest that AC is bouncing back and that the city’s casino earnings were up 55.9 percent in Q3 this year. However, Moody’s Investment Analysts warned that this ended up being much more likely a reflection associated with casino that is recent, which have boosted revenues for people who remain. Moody’s said it expected further closures in the year that is coming.

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

Who is The Boss? evidently, it is now Sheldon Adelson, who has assumed control associated with Las vegas, nevada Review-Journal, Nevada’s newspaper that is largest. (Image: politico.com)

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

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

All they were told ended up being that a newly incorporated business, News + Media Capital Group, was now at the helm and they should ask no longer questions.

‚They want one to focus on your jobs … do not be concerned about whom they truly are,‘ was the pep talk offered by one Michael Schroeder, a News + Media Capital Group manager during the very first staff meeting under the ownership that is new.

And while Schroeder assured staff that their editorial freedom would never be compromised by their new mystery owner, a page that is front on the sale that evening was redacted at Schroeder’s demand to eliminate recommendations towards the proprietor’s anonymity.

Requires Transparency

It wasn’t just LVRJ’s people who had been alarmed, as other journalists began calling for transparency too, and the 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.

Additionally, the premium price paid by the buyer proposed these people were thinking about buying clout that is political rather than considered financial investment, which made all of it the more important that their identity and affiliations be disclosed.

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

Public Statement

Meanwhile, faced with a conundrum, RJ staff did what good journalists do: they began searching for answers. Or as Schroeder had put it, they ‚focused on their jobs.‘

Sources eventually revealed that Patrick Dumont, Adelson’s son-in-law and vice that is senior of finance and strategy at Las Vegas Sands Corporation, had brokered the deal between News + Media Capital Group and its particular previous owner, New Media Investment Group.

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

For all the LVRJ staff knew, they could have been risking their jobs by printing the whole tale, but that does not be seemingly the case. Instead, the Adelson family produced announcement that is formal of ownership of the magazine just hours after the tale broke.

Meanwhile, whatever Adelson’s certain reason for getting his fingers regarding the LVRJ, be it business or politics, their position at the helm may well sit uneasily with most journalists. Adelson already owns newspapers in Israel, but he is also had a tendency to individually sue journalists, for libel within the past.

One journalist that is such current LVRJ columnist John L. Smith, whoever 8-year-old daughter had been enduring from brain cancer during the time of the litigation. His daughter ultimately survived, but Smith was pushed into bankruptcy.

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

The suit was at reaction to a probing book that included information Adelson had considered defamatory, as opposed to such a thing Smith had written at the Review-Journal. It are interesting to see how that relationship unfolds with this new saga.

RAWA Dead in the Water for 2015

Representative Jason Chaffetz, who introduced RAWA to your House and floundered during a recent congressional hearing on online gaming. (Image: nbcnews.com)

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

The bill proposes a ban that is federal all kinds 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 piece of legislation that largely outlines federal fiscal outlays between now therefore the end of 2016.

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

It absolutely was the tactic that is same in fact, used in 2014, when RAWA additionally missed the omnibus. Fortunately for America’s online gambling industry, it may have to wait a very long time for the next one to arrive. Twelve months, become precise.

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

RAWA Flounders

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

Meanwhile, most of the Republican mega-donor’s natural allies in 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 on their own to a policy developed by Adelson.

A recent effort to 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 baking RAWA.

Just eight AG’s were willing to place their name to the initiative.

Controversially, one of those was Nevada AG Adam Laxalt, whose 2014 election campaign received funding from Adelson. Laxalt ended up being greatly criticized by Nevada Governor Brian Sandoval for his actions, and numerous felt he had betrayed the Silver State, which opted to legalize and manage poker that is online late 2013.

Adelson Re-raise

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

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

For RAWA, it seems, the chips are down.

Except Adelson has simply tossed in a reraise that is massive.

His purchase of the Las Vegas Review-Journal may offer him extra clout in their bid to get governmental capital and shape views on online gambling in the video gaming capital of America.

Comments are closed.