Station Casinos Chairman Frank Fertitta III are going to be joining the American Gaming Association Board of Directors this year, along side Steve Wynn (Image: renoetahoe.com)
Just 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 major casino conglomerates in America has some new constituents. It will make for an interesting 12 months ahead since these casinos’ professionals determine the program for gambling in america, and in particular, online gambling.
Wynn Comes Back
Joining this powerhouse organization a group tasked largely with persuading federal legislators to do this where it’s required when it comes to gaming will be Wynn Resorts Ltd., Station Casinos, and upscale Kentucky Derby racetrack and casino operator Churchill Downs Inc. Each of those companies will likely then have an official user representing their interests in the AGA’s board of directors.
Coming back to the organization that he initially founded back in 1995 will be casino magnate Steve Wynn, chairman of his eponymous business, and obviously one of the gaming industries more invigorated proponents. After he sold his Mirage Resorts to that which was then called MGM Grand Corp. back in 1999, Wynn had walked away from the organization. His views on online gaming have already been somewhat circumspect, as they push for more federal oversight so it will be interesting to see which way he goes on this board.
Another player that is significant think about it board is Frank Fertitta III, who is Station Casinos’ chairman and therefore clearly on the medial side of Internet gambling expansion; his business’s UltimatePoker website was the first to ever go legal online in Nevada, as well as the entire United States. Fertitta is likely to join the AGA Board as well.
Heading up 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 Change
This has been a crucial year for the AGA; the corporation’s first and just president, Frank Fahrenkopf Jr., stepped down this past Spring and his position was filled by travel industry expert Geoff Freeman. Recent departures by long-time management that is senior the consortium have also impacted its makeup.
Freeman noted that with all the involvement of these major industry casinos, ‘a critical step in the AGA’s evolution as a representative of the entire video gaming industry [has taken place].’
But with these power that is new may come some divisiveness also; Fertitta will obviously be into the cheering area for legal Internet gaming, as his Ultimate Gaming now runs online in both Nevada and New Jersey, while long-time member and Las Vegas Sands Corporation Chairman Sheldon Adelson would offer his right arm or at the very least many of his billions to place the kaibosh on it forever.
All the time. although the AGA itself takes the official stand to be pro-Internet gambling, new president Freeman told GamblingCompliance.com that ‘we’re maybe not the very first association to have members disagree on an issue…[and while] other associations might not have people with the same resources [as Adelson] to express their point of view…this happens in associations’
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 is no guarantee that Suffolk Downs and the Mohegan Sun will be able to build a casino in the city of Revere, Massachusetts. In fact, the project that is whole seems like an extended shot to just about everyone else who isn’t directly included in promoting it. But should the city and the companies involved beat the odds, they’ll be exchanging a whole lot of money within the years into the future.
Pay to relax and play
Mohegan Sun arrived to a contract using the city of Revere which will see the casino firm pay the city $33 million up front, in exchange for allowing them to run a casino at the Suffolk Downs racetrack; the project that is billion-dollar feature 4,000 slot devices, 100 game tables, and a poker space . That could simply be the initial of several payments, however, as the casino would continue making payments that are annual the town beginning at a minimum of about $25 million to $30 million.
‘This agreement is an extraordinary deal that will assist us continue to make the transformation of Revere a real possibility,’ said Mayor Daniel Rizzo.
The deal reflects the fact that Mohegan Sun is the only operator under the present proposal for a casino on land owned by the race track. Suffolk Downs would provide merely as a landlord, as opposed to running the center.
If you’ve 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 competition track. The very 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 authorized it.
That proposal would have been notably less lucrative for Revere, which willnot have hosted any for the buildings that are major towards the facility. Under that host agreement, Revere was likely to get a minimum of $9 million each year.
Revere Could Make Bank
Now, the populous city can expect to make at least three times that amount. In addition, Rizzo said that the host agreement language which is expected to be made general public soon could enable the city to get also greater payments in the event that casino manages to become extremely lucrative.
The money raised through the payments would be properly used to deliver income tax relief for property owners in Revere, because well as to enhance services and facilities throughout the city. Mohegan Sun pointed to these as well as other benefits that are economic due to the fact thousands of jobs that would be developed as explanations why the offer will be a good one for the city.
‘We’re going to push a tremendous number of success for this city and trigger a huge upswing in the economic situation around here,’ said Mohegan Tribal Gaming Authority chief executive Mitchell Etess.
But despite the texting, there are those that want to arrange in opposition to the Revere proposal. While Boston’s Mayor-Elect Martin J. Walsh says that he’s unsure if Boston has a right in law to stop the casino move and he would like to negotiate a surrounding community agreement because of the casino designers members of anti-casino group No Eastie Casino plan to work alongside those in Revere who oppose the casino to beat the coming referendum. They will be accompanied with a group from Palmer where Mohegan Sun has already lost a casino vote that claims that the casino firm purposely destroyed the referendum there to ensure that it could then decide to try again in the more lucrative Greater Boston area.
Mixed Emotions as Judge Okays Atlantic Club Shutdown
The end of an age: Atlantic City’s Atlantic Club are going to be closing its doors on 13 for good (Image: Edward Lea/PressofAC january)
When a veteran casino closes down, for the buyers and sellers, it is simply business. However for the casino’s workers, it’s the increasing loss of a job, and sometimes, a career that is life-long. Such is the situation for the Atlantic Club open for the previous 33 years in Atlantic City, and originally produced by iconic casino magnate Steve Wynn which will be closing straight down for good come January 13, 2014, per Judge Gloria Burns’ instructions of the court.
Employees Weigh In
As she did so, the packed courtroom reflected the casino’s large workforce, who filled every seat; many have been employed there nearly since its inception. Take bartender Joe Blatcher, whom states he is witnessing not just the increased loss of his very own job, but what he sees as nefarious transactions between the city’s power players.
‘It’s a matter of the city that is entire to eliminate a few properties so the rest can still exist,’ Blatcher decried. ‘It appears extremely suspicious that two gambling enterprises can synergy to just 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 clearly was no concrete proof any collusion or fraud throughout the bankruptcy court hearing for Atlantic Club week that is late last it is difficult to miss the reality that purchaser Caesars Entertainment already owns four casinos in Atlantic City, snatched it up for a fire purchase price, and will likely gain somewhat by having one less casino to compete against in town.
Then again, the other properties in Atantic City probably won’t be crying over losing one of the own, either.
Regardless, the Atlantic Club employee base in attendance had not been convinced.
‘The worst thing is they are doing it simply to stop competition,’ said Fran Critch through tears; Critch has been a food server at the property for 29 years, now fears she will have to put her home up for sale if she can’t find another task quickly. She isn’t keeping down a complete 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 a little over fourteen days, the prospects are scary; the judge approved a deal that offers each of some 1,600 workers during the casino just $1,500 in severance pay. And while their pension plans won’t be dissolved, they also will get no further efforts to them; an unnerving reality for those nearing retirement, no question.
As for the rest of the game plan, Tropicana Entertainment has consented to fork over $8.4 million for all the property’s slots and gaming tables, while Caesars is having to pay $15 million the best ever paid for an Atlantic City casino your can purchase the hotel that is 800-room (although the business does not have any plans to keep it going), and a casino spokesperson said the intent is always to divvy up most of the remaining gear among Caesars’ four Atlantic City properties.
The sale will bring Atlantic City’s ailing casino market down seriously to 11 properties. New Jersey’s Division of Gaming Enforcement Director David Roebuck says this might be just the reality of in which the beachside resort town reaches these days.
‘We realize it is a difficult time for the employees of Atlantic Club and dozens of whom have now been an element of the history of their operation,’ Roebuck stated. ‘[But] competition is nothing new for New Jersey and it will be no different in 2014.’