Station Casinos Chairman Frank Fertitta III are joining the American Gaming Association Board of Directors this year, along with Steve Wynn (Image: renoetahoe.com)
Simply Take your seats and get ready for some head-whipping interplay between power players: the American Gaming Association (AGA) the Washington, D.C.-based lobbying that is primary for the main casino conglomerates in America has some brand new constituents. It should make for an interesting 12 months ahead as these casinos’ executives determine the program for gambling in america, 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 regarding gaming will be Wynn Resorts Ltd., Station Casinos, and upscale Kentucky Derby racetrack and casino operator Churchill Downs Inc. Each of these companies will then have an official member representing their interests regarding the AGA’s board of directors.
Going back to the corporation that he initially founded right back in 1995 will be casino magnate Steve Wynn, chairman of his eponymous company, and obviously one of the gaming industries more invigorated proponents. After he offered his Mirage Resorts to the thing that was then called MGM Grand Corp. back in 1999, Wynn had walked away from the business. His views on online gaming have already been significantly 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 come on board is going to be Frank Fertitta III, whom is Station Casinos’ chairman and therefore clearly on the medial side of Internet gambling expansion; his company’s UltimatePoker web site had been the first to go appropriate online in Nevada, therefore the entire United States. Fertitta is expected to join the AGA Board as well.
Heading up myfreepokies.com 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
It has been a crucial 12 months for the AGA; the corporation’s first and only president, Frank Fahrenkopf Jr., stepped down this previous Spring and his position was filled by travel industry expert Geoff Freeman. Recent departures by long-time senior management at the consortium have also affected its makeup.
Freeman noted that because of the participation of these industry that is major, ‘a critical step in the AGA’s development as a representative of this entire gaming industry [has taken place].’
However with these brand new power players may come some divisiveness aswell; Fertitta will obviously be in the cheering part for legal Internet gaming, as his Ultimate Gaming now operates online in both Nevada and nj-new Jersey, while long-time member and Las Vegas Sands Corporation Chairman Sheldon Adelson would provide their right supply or at least many of his billions to place the kaibosh on it forever.
Although the AGA itself takes the official stand of being pro-Internet gambling, new president Freeman told GamblingCompliance.com that ‘we’re not the first association to possess members disagree on an issue…[and while] other associations may not have people with the same resources [as Adelson] to express their point of view…this happens in associations all the time.’
Revere and Mohegan Sun Strike Casino Deal in Massachusetts
The town of Revere, Massachusetts could benefit financially if Mohegan Sun’s casino ever becomes a truth
There isn’t any guarantee that Suffolk Downs and the Mohegan Sun should be able to develop a casino in the populous city of Revere, Massachusetts. In reality, the project that is whole may seem like a lengthy shot to just about everyone whom isn’t directly involved in promoting it. But if the city and the businesses involved beat the odds, they will be exchanging a whole lot of money in the years to come.
Pay to relax and play
Mohegan Sun came to a contract with the city of Revere which will see the casino firm pay the town $33 million at the start, in return for allowing them to run a casino at the Suffolk Downs racetrack; the billion-dollar task would feature 4,000 slot machines, 100 game tables, and a poker space . That could only be the very first of many payments, however, as the casino would continue making payments that are annual the city starting at a minimum of about $25 million to $30 million.
‘This agreement can be an extraordinary deal that will help us continue steadily to make the transformation of Revere a reality,’ said Mayor Daniel Rizzo.
The offer reflects the fact that Mohegan Sun will be the operator that is only the present proposal for a casino on land owned by the race track. Suffolk Downs would serve simply as a landlord, in place of running the center.
If you have been paying attention to the ongoing saga of the Suffolk Downs casino, you understand that this may be the second effort to build a casino attached to the battle track. The first attempt, which would have built a casino on the East Boston side of the line between Boston and Revere, was rejected by East Boston voters, also as Revere voters approved it.
That proposal would are much less lucrative for Revere, which willn’t have hosted any regarding the major structures attached towards the facility. Under that host agreement, Revere had been anticipated to get a minimum of $9 million each year.
Revere Will Make Bank
Now, the city can expect to create at least three times that amount. In addition, Rizzo said that the host agreement language which is anticipated to be produced general public soon could enable the town to get even higher payments if the casino manages to become extremely lucrative.
The cash raised through the payments would be used to produce taxation relief for property owners in Revere, as well as to improve services and facilities throughout the town. Mohegan Sun pointed to these and other economic advantages such because the thousands of jobs that may be produced as reasons why the offer will be a good one for the city.
‘We’re going to drive a tremendous quantity of success for this city and trigger a huge upswing in the financial status around here,’ said Mohegan Tribal Gaming Authority chief executive Mitchell Etess.
But regardless of the messaging, there are those that want to arrange in opposition towards the Revere proposition. No Eastie Casino plan to work with those in Revere who oppose the casino to defeat the coming referendum while Boston’s Mayor-Elect Martin J. Walsh says that he’s unsure if Boston has a legal right to stop the casino move and that he would like to negotiate a surrounding community agreement with the casino developers members of anti-casino group. They are going to be accompanied with a group from Palmer where Mohegan Sun has already lost a casino vote that claims that the casino firm purposely lost the referendum there to ensure that it could then decide to 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 is closing its doors on 13 for good (Image: Edward Lea/PressofAC january)
Whenever a veteran casino closes down, for the buyers and vendors, it is simply business. But also for the casino’s employees, it is the increased loss of a work, and sometimes, a life-long profession. Such is the scenario for the Atlantic Club open for the past 33 years in Atlantic City, and originally manufactured by iconic casino magnate Steve Wynn which will be closing down for good come January 13, 2014, per Judge Gloria Burns’ orders of this court.
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 loss of his very own job, but what he sees as nefarious transactions involving the city’s power players.
‘It’s a matter of the entire city wanting to eliminate a few properties so that the remainder can still exist,’ Blatcher decried. ‘It appears very suspicious that two gambling enterprises can team up to take down another one. It’s like thinning out the herd to survive.’
They say it is true in nature, so why not among the wildebeests of gambling as well?
While Judge Burns noted there was clearly no concrete proof of any collusion or fraud during the bankruptcy court hearing for Atlantic Club week that is late last it’s difficult to miss the reality that purchaser Caesars Entertainment already owns four gambling enterprises in Atlantic City, snatched it for a fire purchase 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 the own, either.
Irrespective, the Atlantic Club employee base in attendance was not convinced.
‘the thing that is worst is they’re doing it simply to end competition,’ said Fran Critch through tears; Critch has been a meals server at the home for 29 years, now fears she’ll have to put her home on the market if she aren’t able to find another work quickly. She is not keeping away a lot of hope for that to occur, either.
‘Who’s going to employ a 59-year-old server?’ Critch wondered aloud.
Some Severance; No Pension Add-Ons
For those facing no jobs in slightly over two weeks, the prospects are scary; the judge approved a deal that gives all of some 1,600 workers at the casino just $1,500 in severance pay. And while their pension plans will not be dissolved, they also will get no further contributions to them; an reality that is unnerving those nearing retirement, no question.
Are you aware that rest of the game plan, Tropicana Entertainment has agreed to fork over $8.4 million for the property’s slots and video gaming tables, while Caesars is paying $15 million the best ever paid for an Atlantic City casino your can purchase the 800-room hotel itself (even though business has no plans to keep it going), and a casino spokesperson said the intent would be to divvy up most of the rest of the equipment among Caesars’ four Atlantic City properties.
The sale shall bring Atlantic City’s ailing casino market right down to 11 properties. New Jersey’s Division of Gaming Enforcement Director David Roebuck says this is certainly just the truth of where the beachside resort town reaches these days.
‘We understand this may be a difficult time for the employees of Atlantic Club and all those who have been the main history of their procedure,’ Roebuck said. ‘[But] competition is nothing new for New Jersey and it’ll be no different in 2014.’