Very First Lady Michelle Obama energized the audience at the Democratic National Convention on the shared common theme that Donald Trump just isn’t fit for the Oval workplace.
Donald Trump invested a quarter-century having companies in Atlantic City. Throughout the span of his campaign, the billionaire Republican Party nominee has repeatedly trumpeted his success in the east coastline gambling mecca.
‘I made big money in Atlantic City and left seven years ago, great timing,’ Trump tweeted earlier this month.
The GOP’s presidential candidate, it’s now time for the Democrats to hold their own love fest after a weeklong Republican National Convention (RNC) that officially made Trump. While contention remains involving the Bernie Sanders faithful and presumptive nominee Hillary Clinton, one thing most in attendance in Philadelphia during the Democratic National Convention (DNC) can agree on is that Donald Trump is not qualified to be president.
Their record in Atlantic City is an example that is prime Democrats who argue Trump isn’t looking out for the American people.
‘Trump says he’d run our nation like he has run his companies,’ New Jersey Senator Cory Booker said in delivering a speech that is passionate. ‘ I’m from New Jersey, and we’ve seen the way he leads . . . He got rich while his companies declared multiple bankruptcies.’
Massachusetts Senator Elizabeth Warren echoed Booker by saying, ‘Donald Trump goes on, and on, and on, about being truly a successful businessman, but he filed business bankruptcies . . . Always to safeguard his very own cash and stick his investors and contractors with the bill.’
Banking on Bankruptcy
Trump says he’s a billionaire that is self-made the political left claims he’s nothing but a bully who got rich at the expense of the little people.
So who’s to believe? In fact, both are right, and both are being truly a dishonest that is little.
Trump hasn’t personally filed for bankruptcy, but organizations he’s owned have.
The first came in 1991 when the Trump Taj Mahal in Atlantic City declared Chapter 11 bankruptcy. The filing was damaging for Trump who was simply 45-years-old during the time.
He lost half of his stake in the casino, sold his yacht that is 282-foot dubbed ‘Trump Princess,’ and shuttered Trump Airlines.
The following year Trump Castle Associates, owners associated with Trump Plaza in new york and Trump Plaza Hotel and Casino and Trump Castle Resort in Atlantic City, also filed for bankruptcy. The property businessman forfeited half of his stake into the ny Plaza to the banks.
Twelve years later, Trump Hotel & Casino Resorts shed $500 million in debt by turning over majority control of its Atlantic City properties and its Indiana riverboat to investors.
Finally during 2009, Trump Entertainment Resorts was the straw that is last Trump’s ventures in the gambling sector. He resigned from the organization’s board and the business ended up being eventually offered to Carl Icahn in 2016.
He Said, She Said
According to Real Clear Politics, the latest aggregated polls show Trump with a slight lead over Clinton 45.6-44.7.
The revelation this week by WikiLeaks that Democratic National Committee Chair Debbie Wasserman Schultz had been earnestly working against Sanders has brought additional scrutiny to the ticket that is democratic.
Sanders attempted to persuade his backers to help Clinton during his speech night that is last and also by many accounts he succeeded. First Lady Michelle Obama delivered yet another strong message and also threw her support behind Clinton.
Three more evenings remain for the Democrats as they try and unite and spread their message to the American people. Meanwhile, Donald Trump will tweet and appear on as many news programs as feasible.
Sheldon Adelson Upbeat on Macau as Mass Market Gamblers Return
Macau may be entering its third year of decline but Sheldon Adelson is buoyed by the rise in mass market gamblers at Sands China properties in June. (Image: abcnews.go.com)
LVS boss Sheldon Adelson is bullish about an upturn in Macau’s fortunes. Speaking through the Sands Asia earnings call this week, the billionaire casino mogul said that after two straight years of monthly decrease for the gaming hub, stabilization had arrived, evidenced by the fact that mass market gaming at Sands China properties rose for the very first time in two years in June.
‘I talked about in January of last year we were seeing the first signs of stabilization in the Macau mass market,’ sad Adelson that I believe. ‘Our mass revenue growth in June, inspite of the arrival of the latest competition on Cotai, represents an important data point supporting the ongoing stabilization associated with Macau mass market.’
LVS stays positive despite the fact that Sand’s China’s total profits for the quarter that is second of declined 16.4 percent year-on-year to $1.48 billion. Meanwhile, Morgan Stanley has established that Q2 2016 had been Macau’s ‘worst quarter in the past five years,’ across the sector.
The VIP players that once accounted for the quarter of Macau’s profits stay conspicuous by their absence, spooked by Beijing’s crackdown on conspicuous consumption and corrupt local federal government officials. But month that is last mass market gamblers arrived back. And, LVS Chairman Rob Goldstein insisted there is a change that is palpable the air.
‘One thing good took place in ‘ he said june. ‘The gaming floors are busy, specially on weekends. Macau is morphing in to the planet’s greatest mass market. Hopefully we’ll view it for the rest of the summer.’
LVS shares rallied in the wake of the conference call, climbing as much as 4.1 percent in subsequent trading. Analyst Sanford C. Bernstein & Co said today that Sands China’s product providing is ‘one regarding the best positioned to capitalize on Macau’s paradigm change’ towards mass market gamblers.
Parisian on Track for September
Meanwhile, Adelson announced that LVS’s brand new home on the Cotai Strip, the Parisian Macau, is ‘on track,’ and planned to start September 13th, less than a thirty days after the new Wynn Macau is expected to open its doors.
‘The positioning regarding the Parisian Macau caters well to both the current Macao market conditions and the term that is long trends in Chinese outbound tourism,’ stated Adelson.
‘The Parisian would have been a themed premium destination where the aspirational appeal of its public spaces, attractions and amenities, combined with affordable hotel accommodation, will provide a complimentary providing to the all-suite resort at The Venetian Macao.’
‘ I’m extremely confident that with the opening of The Parisian, we shall see growth in Macau,’ he added.
Native United States Casino Sector Generates Strongest Revenue Growth in a Decade
Jonodev O. Chaudhuri, NIGC chairman, stated that tribal gaming provides more social benefits for Native Americans than any other economic motorist. (Image: yogonet.com)
The tribal video gaming industry across America recorded its highest ever revenue figures last year, in accordance with the National Indian Gaming Commission (NIGC). Its earnings of $29.9 billion represents a five % increase on the previous 12 months and its own growth margin that is best in ten years.
In 2015 there have been 474 gambling operations owned by 283 separate tribes across the country. Properties considering the Eastern Seaboard were the revenue generators that are biggest, with the 31 gambling enterprises in the region bringing in a average of $225.8 million each.
Casinos in California and Nevada had been the following performers that are top the 71 properties in your community earned 7.9 billion for the 12 months, and average of $111.3 million each.
The NIGC neglects to mention specific casinos, preferring instead to deal in broad averages, which highlights overall rosy numbers, while perhaps glossing throughout the great disparity in the tribal casino market. A study published earlier this by the economist Alan Meister, which looked solely at the state of the market in 2014, found that the top two states generated 39 percent of all revenues for the sector, while the top ten generated 85 percent year.
However, Meister acknowledged that the sector in basic was outpacing the commercial sector in terms of growth. The Indian Gaming industry bounced right back much more quickly from the Great Recession than its commercial counterpart and has now grown each year since 2009.
‘ The regulation that is strong tribes, as well as federal regulators and other stakeholders, provides has played a vital part in the stability and growth of the Indian gaming industry by providing consistency and predictability,’ said NIGC chairman Jonodev O. Chaudhuri, during a news meeting on the Cabazon Band of Mission Indians’ reservation in Indio.
Pioneering Cabazon Band
The setting had been chosen because the Cabazon Band was the tribe that first paved the way for all indigenous United states Gaming. Its 1987 challenge that is legal the State of California, which argued that the state could not forbid casino gaming on tribal sovereign lands if gambling were legal somewhere else into the state, was upheld by the US Supreme Court. This paved just how for the creation Indian Gaming Regulatory Act, and, through it, tribal casinos.
‘Indian gaming is fundamentally different than commercial enterprises; it directly provides resources for Indian people including, social solutions, general public works, training, housing, healthcare, emergency services, general public security and social presentation programs that no other financial driver has yet to deliver,’ said Chaudhuri.
Maryland Live Casino Sues Soon-To-Be Rival MGM National Harbor Over High-Roller Lists
The Maryland Live Casino southwest of downtown Baltimore in Arundel Mills has brought a lawsuit against its soon-to-be neighbor and rival MGM National Harbor. The litigation claims that the company behind the $1.2 billion property positioned just 10 miles through the White House obtained its coveted high-roller listings in ill-gotten means.
The Maryland Live Casino is worried MGM National Harbor (pictured) could ransack its VIPs after it was revealed the brand new venue obtained confidential high-roller directories. (Image: mgmnationalharbor.com)
Maryland Live contends that MGM pursued and hired three of its former employees who served as hosts to VIPs. Maryland Live believes MGM then convinced at least two for the high-roller hosts to turn over private lists despite signing ‘No Hire/Non-Compete agreements’ during their past work.
The truth ended up being filed in the United States District Court in Baltimore. Maryland Live is owned by Cordish Global Gaming Group.
The lawsuit states that MGM ‘aided and abetted’ into the scheme, and hired the people based on the knowledge of the VIP gambling crowd in the Washington, DC, and Baltimore metro.
‘Although it is our normal training not to comment on pending litigation, this lawsuit amounts to nothing more than an attempt that is thinly disguised stifle the competition Maryland Live expects from MGM’s National Harbor,’ MGM said in a statement. ‘Maryland Live is resorting to threatening its current and former employees with unenforceable non-compete provisions in hopes of preventing folks from employed in other states no matter whether their new employment would compete with Maryland Live.’
Tale of Two Casinos
When the MGM National Harbor opens in the two casinos will be located just 40 miles apart from one another december. Of course, considering the nightmarish traffic in the Baltimore-Washington region, those 40 miles are at times an all-day trip.
Regardless, it is too close for comfort for Maryland Live.
First opened in 2012, Maryland Live has essentially had a monopoly on the certain area for the last four years. The venue is considered the most lucrative of the state’s five operational venues, and though it directly competes with the Baltimore Horseshoe, the fight isn’t even close.
Casinos have grossed $581 million through June in 2016, and Maryland Live is responsible for a staggering 57 percent of the revenues.
Regardless of the Caesars home in downtown Baltimore, one other three casinos are relatively little venues situated in more remote areas compared to Baltimore and Washington, DC.
Maryland Live is rightfully worried about losing a considerable chunk of its players, particularly those with deep pockets, to your glitzy and National that is flashy Harbor.
Maryland Live cast the first stone in the future casino war, which isn’t stopping there.
As Casino.org reported last month, the casino is investing $200 million into its facility to add a 17-story hotel tower. A complete of 310 guest rooms will be accompanied by a new event center, meeting areas, dining options, and a day spa and salon.
MGM nationwide Harbor will open with 308 hotel rooms.
‘Maryland Live Casino may be the gaming that is premier entertainment and retail destination serving the heart of the Baltimore/Washington population,’ Cordish Global Gaming Group President Robert Norton said in June. ‘ The addition of our flagship Live! Hotel is just the latest investment we are making to make certain Maryland Live continues to function as the preferred choice.’