North Nj-new Jersey Casino Expansion Straight Back on State’s Agenda

North Nj-new Jersey Casino Expansion Straight Back on State’s Agenda

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

North nj-new jersey wants to provide Atlantic City a run for its money. And brand New Jerseyans may get the right yet to vote for casino expansion beyond the Boardwalk.

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

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

Issue of North Jersey casino expansion is muted before. Atlantic City has experienced from the legalization of casino gaming within abutting states, and increased competition was a factor that is major four Atlantic City casino closures within 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 both opted to license their first casinos and the emergence of the new areas will undoubtedly damage the New Jersey market.

Strategic Importance

But North Jersey’s proximity to Manhattan as well as the New York greater area that is metropolitan it a strategically beneficial 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 is the right time for the voters to decide. Expanding gambling to North Jersey is the best method to revitalize a market that is essential to the state’s economy to make certain that we can compete with neighboring states, generate the revenue had a need to revive Atlantic City and contribute to economic growth.’

The bill would make sure that no casinos that are new be built within 75 miles of Atlantic City and that casinos within the north would pay a much higher income tax on the gaming revenues compared to eight % presently compensated by Atlantic City gambling enterprises.

High Taxes

Intense Rock Global therefore the Meadowlands Racetrack, which want to build a casino in East Rutherford, home to the New York Giants and New York Jets, have wanted to pay because much as 55 percent in taxes.

Forty-nine percent of the income tax revenue would then visit Atlantic City to pay for the inevitable loss of business, while another 49 percent would go to counties and municipalities, as well as the remaining two percent would gain nj-new Jersey’s horse industry that is racing.

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

‘North Jersey casinos would be disastrous for our local economy, driving jobs and investment away from our area,’ said mayor that is former Whelan on Twitter this week.

Recent financial reports recommend that AC is bouncing back and that the town’s casino profits were up 55.9 per cent in Q3 this present year. However, Moody’s Investment Analysts warned that this ended up being more likely a reflection associated with casino that is recent, that have boosted revenues for those that remain. Moody’s said it expected further closures in the coming year.

Sheldon Adelson Confirmed as Brand New Las Vegas Review-Journal Owner

That is The Boss? evidently, it’s now Sheldon Adelson, who has assumed control for the Las Vegas Review-Journal, Nevada’s biggest paper. (Image: politico.com)

Sheldon Adelson has been unmasked since the new owner of this Las Vegas Review-Journal, having been exposed by the very magazine he had anonymously purchased a week earlier.

As reported here previously this week, LVRJ staff were puzzled and a little dismayed to master Thursday that is last that newspaper had been sold up to a mystery owner for $140 million.

All they certainly were told was that the newly incorporated business, News + Media Capital Group, was now at the helm and they need to ask no further concerns.

‘They want you to give attention to your jobs … do not be concerned about who they have been,’ was the pep talk made available from one Michael Schroeder, a News + Media Capital Group manager during the first staff conference underneath the ownership that is new.

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

Demands Transparency

It wasn’t just LVRJ’s people who have been alarmed, as other journalists began calling for transparency too, and the tale spread as speculation grew. The sale of a newspaper to an owner or organization that refuses to be identified is unprecedented in media history as Esther Thorson, research director for the Reynolds Journalism Institute at the Missouri School of Journalism, told the Los Angeles Times.

Furthermore, the premium price compensated by the buyer advised they were interested in buying governmental clout, rather than a considered financial investment, which made it all the more important that their identity and affiliations be disclosed.

The fact that LVRJ is the dominant news socket in the swing that is early-voting of Nevada suggested to many that the buyer might be a rich conservative, and Adelson’s name began to be cited by speculative commentators.

Public Statement

Meanwhile, faced with a conundrum, RJ staff did what journalists that are good: 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 vice that is senior of finance and strategy at Las Vegas Sands Corporation, had brokered the deal between News + Media Capital Group and its particular previous owner, New Media Investment Group.

‘He [Dumont] handles all the investments for your family,’ claimed A lvrj source.

For all of the LVRJ staff knew, they could have been risking their jobs by printing the tale, but it doesn’t look like the way it is. Instead, the Adelson family produced formal announcement of these ownership of the newspaper just hours after the tale broke.

Meanwhile, whatever Adelson’s certain reason for getting his arms regarding the LVRJ, be it business or politics, his position at the helm may well sit uneasily with most journalists. Adelson currently owns newspapers in Israel, but he’s also had a tendency to sue journalists, separately, for libel in the past.

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

Adelson eventually consented to dismiss the situation with prejudice, after Smith’s attorney effectively argued that the case was not about defamation, but about Adelson making an example of those who crossed him.

The suit was at response to a probing book that included information Adelson had considered defamatory, in the place of anything Smith had written at the Review-Journal. It are going to be interesting to see how that relationship unfolds using this saga that is new.

RAWA Dead in the Water for 2015

Representative Jason Chaffetz, who introduced RAWA to the House and floundered during a recently available hearing that is congressional online gaming. (Image: nbcnews.com)

The Restoration of America’s Wire Act (RAWA) has failed to attach itself to an omnibus investing bill that would have seen it sail through Congress.

The bill proposes a ban that is federal all types of online gambling with the exception of horseracing and fantasy activities.

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 while the end of 2016.

In such a way, they hoped, RAWA would be passed into legislation with as little fuss as possible, much like the Unlawful online Gambling Enforcement Act was slipped onto the end of legislation created to manage slot protection a decade ago.

It had been the tactic that is same in fact, used in 2014, when RAWA additionally missed the omnibus. Fortunately for America’s online gambling industry, it may have to wait a number of years for the next one to come along. A year, become precise.

And since RAWA in its current form is very unlikely to be accepted by both chambers, sneaking onto that bus with out a admission perhaps remains its best choice.

RAWA Flounders

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

Meanwhile, most of the Republican mega-donor’s normal allies within the GOP decry it as an unconstitutional violation associated with Tenth Amendment that seeks to stymie states’ rights, while Democrats who might normally disapprove of online gambling are loathe to install by themselves to a policy created by Adelson.

A recent initiative to drum up support to push RAWA on the line failed when Missouri Attorney General Chris Koster and Southern Carolina Attorney General Alan Wilson exhorted fellow attorneys basic to countersign a letter cooking RAWA.

Only eight AG’s were ready to put their name to the initiative.

Controversially, one of those was Nevada AG Adam Laxalt, whose 2014 election campaign received funding from Adelson. Laxalt ended up being greatly criticized by Nevada Governor Brian Sandoval for his actions, and many felt he had betrayed the Silver State, which opted to legalize and regulate internet poker in late 2013.

Adelson Re-raise

Representative Jason Chaffetz (R-Utah), who introduced RAWA to the home early on in the 12 months, fared no better at a recent house hearing associated with the legislation, which he himself chaired, aided by the somewhat charged title: ‘A Casino in Every Smartphone: Law Enforcement Implications.’

Chaffetz had presumably hoped it is sufficient to trot every clich&eacute that is tired of the anti-online gambling movement, with lazy sources to terrorism, money-laundering and child corruption, except it didn’t quite work out that way, therefore the arguments against regulation took a drubbing.

For RAWA, it appears, the chips are down.

Except Adelson has just tossed in a massive reraise.

His purchase of the Las vegas, nevada Review-Journal may provide him extra clout in his bid to gain governmental capital and shape views on online gambling in the gaming money of America.