North New Jersey Casino Expansion Back on State’s Agenda



North New Jersey casino expansion: State Senate President Steve Sweeney wants residents to vote in the issue in November 2016.

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

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

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

Issue 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 factor that is major four Atlantic City casino closures in 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 those new markets will definitely damage the New Jersey market.

Strategic Importance

But North Jersey’s proximity to Manhattan plus the New York greater metropolitan area makes 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 may be 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 needed seriously to revive Atlantic City and contribute to economic growth.’

The bill would make sure that no new casinos could be built within 75 miles of Atlantic City and that casinos within the north would pay a much higher tax on the gaming revenues compared to eight per cent currently paid by Atlantic City casinos.

High Taxes

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

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

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

‘North Jersey casinos would be disastrous for our regional economy, driving jobs and investment away from our region,’ said former mayor James Whelan on Twitter this week.

Current financial reports recommend that AC is bouncing back and that the city’s casino earnings were up 55.9 per cent in Q3 this season. However, Moody’s Investment Analysts warned that this had been much more likely a reflection of the recent casino closures, which may have boosted revenues for those that remain. Moody’s said it expected further closures in the year ahead.

Sheldon Adelson Confirmed as New Las Vegas Review-Journal Owner

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

Sheldon Adelson has been unmasked due to the fact new owner associated with 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 were puzzled and a little dismayed to understand Thursday that is last that newspaper had been sold to a mystery owner for $140 million.

All they were told was that a newly incorporated company, News + Media Capital Group, was now at the helm and they ought to ask forget about questions.

‘They want one to focus on your jobs … don’t be concerned about whom they’ve been,’ was the pep talk offered by one Michael Schroeder, a News + Media Capital Group supervisor at the very first staff conference beneath the ownership that is new.

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

Demands Transparency

It was not 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 at the Missouri class of Journalism, told the Los Angeles circumstances, the sale of a newspaper to an owner or organization that refuses to be identified is unprecedented in media history.

Also, the premium price compensated by the buyer advised these were thinking about buying political clout, rather than a considered financial investment, which made it all the more crucial that their identity and affiliations be disclosed.

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

Public Statement

Meanwhile, up against 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 particular former owner, brand New Media Investment Group.

‘He [Dumont] handles all the investments for the household,’ claimed a source that is lvrj.

For all the LVRJ staff knew, they are able to have been risking their jobs by printing the whole tale, but that does not be seemingly the situation. Instead, the Adelson family made a announcement that is formal of ownership of the paper just hours after the tale broke.

Meanwhile, whatever Adelson’s certain explanation for getting his arms on the LVRJ, be it business or politics, his position at the helm might well sit uneasily with most journalists. Adelson already has newspapers in Israel, but he’s also had a tendency to sue journalists, separately, for libel into the past.

One such journalist was current LVRJ columnist John L. Smith, whose 8-year-old daughter was suffering from mind cancer tumors at the time of the litigation. His daughter ultimately survived, but Smith was pushed into bankruptcy.

Adelson eventually agreed to dismiss the full instance with prejudice, after Smith’s attorney effectively argued that the case had been not about defamation, but about Adelson making an example of people who crossed him.

The suit was in 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 is going to be interesting to see how that relationship unfolds using this new saga.

RAWA Dead into 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 unsuccessful to attach itself to an omnibus investing bill that would have seen it sail through Congress.

The bill proposes a federal ban on all types 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.

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 had been the exact same tactic, in fact, 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 come along. A year, to be precise.

And since RAWA in its current type is very unlikely to be accepted by both chambers, sneaking onto that bus with no admission perhaps remains its most readily useful option.

RAWA Flounders

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

Meanwhile, many of the Republican mega-donor’s natural allies in the GOP decry it as an unconstitutional breach of the 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 developed by Adelson.

A recent initiative to drum up support to push RAWA on the line failed when Missouri Attorney General Chris Koster and South 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 had been heavily criticized by Nevada Governor Brian Sandoval for his actions, and numerous felt he had betrayed the Silver State, which opted to legalize and manage online poker in late 2013.

Adelson Re-raise

Representative Jason Chaffetz (R-Utah), who 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, aided by the somewhat charged title: ‘A Casino in Every Smartphone: Law Enforcement Implications.’

Chaffetz had presumably hoped it would be sufficient to trot every tired cliché of the anti-online gambling movement, with lazy references to terrorism, money-laundering and kid corruption, except so it didn’t quite work out that way, and the arguments against regulation took a drubbing.

For RAWA, it seems, the chips are down.

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

His purchase of the Las Vegas Review-Journal may provide him clout that is extra his bid to gain political capital and shape views on online gambling in the gaming money of America.

Leave a Reply

Please use your real name instead of you company name or keyword spam.