North nj-new Jersey casino expansion: State Senate President Steve Sweeney wants residents to vote in the problem in 2016 november.
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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 a referendum on whether two new gambling enterprises 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 take destination in November 2016.
The question of North Jersey casino expansion was muted before. Atlantic City has experienced from the legalization of casino gaming within abutting states, and increased competition was a major factor in four Atlantic City casino closures within 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 of these new areas will undoubtedly damage the New Jersey market.
Strategic Importance
But North Jersey’s proximity to Manhattan while the New York greater area that is metropolitan it a strategically advantageous 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 best means to revitalize a market that is essential to your state’s economy to make certain that we can compete with neighboring states, generate the revenue had a need to revive Atlantic City and contribute to economic growth.’
The bill would ensure 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 taxation on their gaming revenues than the eight per cent currently compensated by Atlantic City gambling enterprises.
High Taxes
Tricky Rock Global therefore the Meadowlands Racetrack, which want to build a casino in East Rutherford, home to the brand New York Giants and New York Jets, have offered to pay because much as 55 percent in taxes.
Forty-nine percent of this tax revenue would then visit 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 rushing industry.
Opinions remain deeply split on the presssing issue, particularly with Atlantic City itself.
‘North Jersey casinos would be disastrous for our local economy, driving jobs and investment out of our region,’ stated previous mayor James Whelan on Twitter this week.
Recent financial reports recommend that AC is bouncing back and that the city’s casino earnings were up 55.9 per cent in Q3 this present year. However, Moody’s Investment Analysts warned that this ended up being more likely a reflection associated with the recent casino closures, which have boosted revenues for those that remain. Moody’s said it expected further closures in the year that is coming.
Sheldon Adelson Confirmed as New Las Vegas Review-Journal Owner
That is The Boss? Apparently, it’s now Sheldon Adelson, who has assumed control associated with the vegas Review-Journal, Nevada’s biggest magazine. (Image: politico.com)
Sheldon Adelson has been unmasked since the new owner of this Las Vegas Review-Journal, having been exposed by the very newspaper he had anonymously purchased a week earlier.
As reported right here previously this week, LVRJ staff were 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 had been that a newly incorporated company, Information + Media Capital Group, was now at the helm and they should ask you can forget questions.
‘They want you to give attention to your jobs … don’t be concerned about whom they truly are,’ was the pep talk offered by one Michael Schroeder, a News + Media Capital Group supervisor during the first staff conference under the ownership that is new.
And while Schroeder assured staff that their editorial independence would not be compromised by their new mystery owner, a page that is front on the sale that evening was redacted at Schroeder’s demand to get rid of sources to the proprietor’s anonymity.
Demands Transparency
It wasn’t just LVRJ’s people have been alarmed, as other journalists began calling for transparency too, and the story spread as speculation grew. As Esther Thorson, research director for the Reynolds Journalism Institute during the Missouri class of Journalism, told the Los Angeles instances, the sale of a newspaper to an owner or organization that refuses to be identified is unprecedented in media history.
Moreover, the premium price compensated by the buyer recommended these were thinking about buying clout that is political rather than considered financial investment, which made it all the more important that their identification and affiliations be disclosed.
The fact that LVRJ is the dominant news outlet in the early-voting swing state of Nevada suggested to many 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 searching for answers. Or as Schroeder had put it, they ‘focused on their jobs.’
Sources fundamentally 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 as well as its former owner, New Media Investment Group.
‘He [Dumont] handles all the investments for your family,’ claimed a source that is lvrj.
For most of the LVRJ staff knew, they are able to have been risking their jobs by printing the whole tale, but it doesn’t appear to be the case. Instead, the Adelson family produced formal announcement of their ownership of the magazine just hours after the story broke.
Meanwhile, whatever Adelson’s particular reason for getting his fingers on the LVRJ, be it business or politics, their position at the helm may well sit uneasily with most journalists. Adelson currently has newspapers in Israel, but he is also had a tendency to sue journalists, independently, for libel into the past.
One such journalist was current LVRJ columnist John L. Smith, whose 8-year-old daughter had been suffering from mind cancer during the time of the litigation. His daughter ultimately survived, but Smith had been pushed into bankruptcy.
Adelson eventually decided to dismiss the full case with prejudice, after Smith’s attorney successfully argued that the case was not about defamation, but about Adelson making an example of those who crossed him.
The suit was in response to a probing book that included information Adelson had considered defamatory, in the place of anything Smith had written at the Review-Journal. It will likely be interesting to see how that relationship unfolds with this particular new saga.
RAWA Dead within the Water for 2015
Representative Jason Chaffetz, whom introduced RAWA to your House and floundered during a recent hearing that is congressional online gaming. (Image: nbcnews.com)
The Restoration of America’s Wire Act (RAWA) has failed 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 kinds of online gambling with the exception of horseracing and fantasy recreations.
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 describes federal fiscal outlays between now and also the end of 2016.
In such a way, they hoped, RAWA would be passed into law with as little fuss as possible, much like the Unlawful Web Gambling Enforcement Act was slipped on the end of legislation designed to manage slot protection a decade ago.
It had been the same tactic, in reality, used in 2014, when RAWA also missed the omnibus. Fortunately for America’s online gambling industry, it may have to wait a long time for the next one to arrive. 12 months, become precise.
And since RAWA in its current form is very unlikely to be accepted by both chambers, sneaking onto that bus with out a ticket perhaps remains its option that is best.
RAWA Flounders
The legislation is unpopular with many lawmakers since the Sheldon Adelson-backed bill smacks of corporate cronyism.
Meanwhile, many of the Republican mega-donor’s natural allies within the GOP decry it as an unconstitutional violation associated with Tenth Amendment that seeks to stymie states’ rights, while Democrats who might normally disapprove of online gambling are loathe to install themselves to a policy developed by Adelson.
A initiative that is recent drum up support to push RAWA throughout the line failed when Missouri Attorney General Chris Koster and South Carolina Attorney General Alan Wilson exhorted fellow attorneys general to countersign a letter cooking RAWA.
Just eight AG’s were ready 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 was 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 on-line poker in belated 2013.
Adelson Re-raise
Representative Jason Chaffetz (R-Utah), whom introduced RAWA to the home early on into the year, 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 will be sufficient to trot every tired cliché of the anti-online gambling movement, with lazy references to terrorism, money-laundering and son or daughter corruption, except that it didn’t quite work out that way, plus the arguments against regulation took a drubbing.
For RAWA, it appears, the chips are down.
Except Adelson has simply tossed in a reraise that is massive.
His purchase of the Las Vegas Review-Journal may provide him clout that is extra their bid to get governmental capital and shape views on online gambling in the video gaming money of America.