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Property Tax Plummet for Borgata is Sucker Punch for Atlantic City

Февраль 25, 2020

Atlantic City just got hit by another storm recently; this one, financial. (Image source:

Bad Atlantic City.

It gets battered by hurricanes, has its profits siphoned off by ever-increasing competition from surrounding states like Pennsylvania and Maryland, and has seen a seven-year drop that is continuous gaming profits from its 12 land casinos overall. Finally, it has Web casinos willing to launch on November 26th, and things are looking up through the revenue stream standpoint.

But then it gets another smack into the face from the tax man.

Tax Assessment Reversal for Borgata

Exactly What ended up to be considered a victory that is huge MGM Resorts International and Boyd Gaming was not a great deal for the currently faltering coffers of Atlantic City; the two video gaming behemoths got a 61 per cent lowering of property fees on their jointly owned Borgata Hotel and Casino which also is actually one of the less miserable profit disasters in city and now AC has to return pre-paid tax monies towards the two companies.

They can blame it on the Tax Court of New Jersey, which reassessed the casino that is top-grossing the Garden State at $870 million, a huge drop from its 2010 evaluation of $2.26 billion. No doubt there ended up being celebratory champagne in the MGM and Boyd Gaming conference spaces over that decision. But Atlantic City leaders needed to be putting their fists through some wal (далее…)

Will Massachusetts Casino Gambling Ever Really Happen? Place Your Bets

Февраль 25, 2020

Overlook the British; are casinos ever coming to Massachusetts? (Image source:

Last year, Massachusetts passed casino gambling legislation, but in 2013, it is still uncertain whether which will result in any actual casinos being integrated their state. While that legislation made it easy for licensing of up to three casinos in parts associated with the state (along with one slots parlor), a mixture of reluctant communities and a brutally intrusive gaming commission are beginning to make some wonder if anyone will ever get authorized for a casino here.

Uphill Battle So Far

Here’s the truth: many communities have rejected the idea of experiencing a casino within their neighborhood. East Boston and Palmer both said no to casinos on this past Election Day, even though many other towns stopped proposals from going ahead before they ever got on the ballot. That doesn’t mean every casino has been refused, of course. Milford is working together with Foxwoods on a proposal that will be taken fully to a vote on November 19, while the town of Everett overwhelmingly approved a Wynn project, with 87 percent of voters coming down in favor of it. And MGM won a casino vote in Springfield this summer too.

But that alone is not enough. The Massachusetts Gaming Commission must also accept the companies that will be running these casinos, and that is needs to appear to be a real issue in some of these sit (далее…)

Move to Repeal Massachusetts Casino Law Gaining Some Traction

Февраль 25, 2020

A map showing the three Massachusetts regions where casino licenses can be granted theoretically. Some voters want this legislation repealed now.

Nobody within the state of Massachusetts doubts that the people here like to gamble. But, there is apparently a certain disconnect between that fact and the outcome of present referendums, in which voters happen rejecting gambling enterprises left and right across the state. The message seems to be that casinos are okay so long as they’ren’t located in their own backyard.

Perhaps Not Near Me

Also Governor Deval Patrick has said that he’dn’t require a casino in his hometown of Richmond, while State home Speaker Robert DeLeo says he’d vote against one in Winthrop. Mind you, both are theoretically in favor of expanded gambling into the state just as long they live as it doesn’t land where.

But some anti-casino advocates are reading these votes in another way. They’ve said all along that casinos are detrimental to communities and the continuing state being a whole, and they want to avoid the casino expansion before it even gets started. Not long ago, a small grouping of selectmen from four Massachusetts towns created the MetroWest Anti-Casino Coalition, a group that became focused on repealing the casino legislation and stopping any gambling enterprises whatsoever from being built in their state; they now say their work has had such an impact that the team has served (далее…)

Gambling Debates in Indiana; The Governor Against the ‘Expansion’

Февраль 25, 2020

Indiana is another state, which can be expected to just take actions towards allowing the players that are local utilize different gambling services and products. However, the expansion needs to be authorized by the authorities that are local above all by Mike Pence, the Governor of Indiana. the gaming industry greatly depends of the method he defines the word ‘expansion’.

A couple of days ago, Tom Dermody, a Chairman in control of the House Public Policy, talked about the approaching changes, concerning the gambling activities in the area and warned their colleagues against taking decisions that are unwise. They should carefully examine all the advantages and disadvantages of the amenities, that are going to be imposed if they intend to legalize the new rules and regulations during the next available sitting in January 2015.

Based on the Chairman, the priority of this authorities must be applying regulations that are solid and credible. Nevertheless, the legislators need to be willing to offer a explanation that is sensible all their actions.

All the details, provided by Dermody, just come to guide the viewpoint of Mike Pence, who’s completely against any form of expansion regarding the law.

A few racetracks and riverboat casinos, located in the state, have expressed their willingness to become land-based venues and expand their company by adding more dining table games. The problem was raised (далее…)