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Brand New York Southern Tier Gets Another Look Today from Casino Licensing Board

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 Brand <span id="more-3194"></span>New York Southern Tier Gets Another Look Today from Casino Licensing Board

Brand New York Governor Andrew Cuomo urged a state board to reconsider a Southern Tier casino, but the board’s president says the decision that is https://casino-online-australia.net/ladbrokes-casino-review/ final not be affected by the Empire State’s leader.

This new York Southern Tier is waiting on pins and needles for the outcomes of a casino licensing conference tonight with the State Gaming Facility Location Board.

Tonight’s meeting shall see the Board give consideration to reopening the bidding procedure for a resort in the Southern Tier.

That part of the state is everyone that is lobbying through nyc Governor Andrew Cuomo in a effort to make its case that the area, situated near the Pennsylvania border, is deserving of the fourth and last license reserved for upstate New York.

Even the fact that the Southern Tier is still within the game is really a bit of a success for local politicians and residents. The area was partnered with the Finger Lakes as a solitary area in the casino putting in a bid process, and between the two, were only guaranteed a solitary permit. Any particular one ultimately went to the Lago Resort and Casino, a Finger Lakes proposal that was larger compared to the bids developing of the Southern Tier.

But people in the spot felt which they’d been passed over in the casino procedure, when on the same day they were denied licensing, a hydraulic fracturing (or ‘fracking) ban was placed into place in the state, which could leave the Southern Tier in dire economic straits. That resulted in appeals to the continuing state Gaming Commission and Governor Cuomo to give the area another chance.

New Meeting Could Start Bidding for Fourth License

That led Cuomo to interest the Gaming Facility Location Board, which in turn decided to hold a gathering on Tuesday night in nyc to consider reopening the bidding in the Southern Tier.

Because the board originally only recommended three casinos for upstate New York, there was still a license that is fourth could potentially be awarded. While that license was originally up for grabs in all three upstate regions, however, the board will only be considering offering it to the tier that is southern this meeting.

That doesn’t sit well with many lawmakers along with other observers throughout hawaii. Some believe that other regions of New York should likewise have the chance to bid for that 4th license if it becomes available, while other people question how much influence Governor Cuomo has in the casino process.

Hudson Valley Officials Want a Shot

At one point within the bidding procedure, it seemed likely that the 4th casino would end up in the Catskills/Hudson Valley region, which was probably the most profitable area and saw the many interest from major casino firms. Given its proximity to New York City and the fact that regional competition could be intense there, Orange County Executive Steve Neuhaus thinks that the region must be a part of any conversation over the casino license that is final.

‘Given the distinct possibility that casino gambling in nj-new jersey could expand outside of its current Atlantic City location, including the Meadowlands, it’s a good idea for brand New York jobs and income that the absolute most productive areas in southern New York be included in this discussion,’ read a statement from Neuhaus.

Cuomo’s Impact Questioned

There are also issues that Cuomo, who pledged allowing the board working independently, has already established too much influence in the licensing process.

‘Every time he says something, he does the alternative when it willn’t turn the way out he wants it to turn out,’ said Assemblyman James Tedisco (R-Schenectady). ‘If you’re going to state something is separate, keep it independent.’

But members of the facility location board say they have been in a position to act individually, without any pressure from the governor’s office, and that your choice in the Southern Tier will come from them, not from Cuomo.

Washington State Gets Its Own Online Poker Bill

Washington State’s current poker that is online are draconian, which has prompted the push for legislative change. (Image: livingmylifeaway.wordpress.com)

A Washington State on-line poker bill has arrived unexpectedly during the opening of this state’s new legislative session this week.

The bill to legalize and regulate poker that is online known as HB 1114, is sponsored by Representative Sherry Appleton (D), and comes as a complete shock to industry observers.

While all eyes have been regarding the ongoing legislative efforts in California, and the debate that is occasional Pennsylvania about the possibility of regulation, Washington’s bill ambushed us without warning.

The fact that Washington State may be the state that is only of Union when the actual act of playing online poker is illegal makes the headlines even surprising.

Lawmakers managed to get a course C felony in 2006, with Section 9.46.240 associated with state’s gambling legislation declaring that anyone who ‘knowingly transmits or gets gambling information by telephone, telegraph, radio, semaphore, the Web, a telecommunications transmission system, or similar means’ is breaking the legislation.

What this means is that, theoretically at least, playing online poker could land you a jail sentence of up to five years and a $10,000 fine.

Also Utah, where all forms of gambling are strictly illegal, including lotteries, does perhaps not get quite this far, although we should point out that no one in Washington State has ever been prosecuted for the work of playing internet poker.

Washington Internet Poker Initiative

It is perhaps the draconian nature of part 9.46.240 that has driven the push for legislative change in this state that is relatively liberal.

Certainly, the primary crux for the brand new bill is that prohibition does not work properly, and neither does it adequately protect residents of this state, lots of whom continue to play online poker illegally in unregulated offshore markets.

This can be the crusading message of Curtis Woodward, of the Washington Web Poker Initiative, whoever tireless efforts in opposing prohibition have helped make the proposed legislation a reality.

‘It appeared to me personally that Washington State had just been written off online that is regarding, which I discovered unsettling to state the minimum. Someone had to step up and raise the problem or we could be a forgotten little part in the Northwest,’ Woodward told PokerNews this week. ‘I had reached out to every single candidate that is legislative to your 2014 elections.

Representative Appleton is a cosponsor on a few attempts to reduce or take away the penalty that is criminal players, and she was initially receptive of the idea and was certainly one of a few legislators I centered on. We got in contact with her again after the election, and she readily took on the bill for all of us.’

A Blueprint for the Future

The bill it self believes that many of the legislative details should be fleshed out by the Gaming Commission and therefore doesn’t propose a level of taxation, nor does it make no mention of bad actors.

It will, however, recommend that there should be two levels of licensing, one for community operators plus one for consumer-facing online poker rooms, and it might also leave the hinged door open for interstate pool sharing, at the governor’s discretion.

Moreover, there is also a hope that the bill may one day serve as a blueprint for other states trying to legalize poker that is online the long term.

‘ Having the top operators provide as sites, with regional skins competing for players, creates the maximum opportunity for wide participation, without splintering player liquidity. The more regional passions able to participate, the less opponents there will be among them,’ stated Woodward.

Caesars Entertainment Goes for Bankrupt, While Creditors Decry Restructuring Arrange

Caesars Palace is run by Caesars Entertainment Operating Company, Inc., which has filed for Chapter 11 bankruptcy. However, all Caesars properties will continue to be open during the process, says CEO Gary Loveman. (Image: lasvegas.se).

Caesars Entertainment Corp. (CEC) announced the filing of voluntary Chapter 11 bankruptcy this week for its main operating unit, Caesars Entertainment Operating business Inc. (CEOC).

The move had been a bid to ease some of its astronomical $23 billion debtload, nearly all that will be held by the device. CEOC listed around $12.4 billion in assets and $19.9 billion in liabilities in Chapter 11 documents on Thursday.

The subsidiary and its affiliates employ about 32,000 people over the US and run 44 gaming and resort properties in 13 states, as well as in five other countries, including the flagship Caesars Palace in Las Vegas.

However the core message from the parent business is the fact that its ‘business as usual’ for all of its casinos.

‘The properties across the whole Caesars Entertainment network are open and will run without interruption throughout CEOC’s reorganization process,’ said Gary Loveman, the CEO of CEC and chairman of CEOC, in an statement that is official Thursday.

‘Our guests will stay to make advantages through the Total Rewards loyalty system, and our team remains entirely focused on delivering the same outstanding service and unforgettable entertainment experiences guests attended to expect from Caesars Entertainment. Going forward, we will carry on to produce and deliver new, revolutionary hospitality experiences to our visitors.’

We Come to Bury Caesars…

But Caesars is not out of the woods yet, because it faces a revolt from the lower-level creditors, who accuse the debt restructuring plan it has resolved with its major creditors of unjustly protecting the organization’s interests at the cost of the own.

While CEOC files for bankruptcy in Chicago, this group of lower-level creditors will take a federal court in Delaware attempting to phone a temporary halt to the Chicago case and also to stop the restructuring plan from going through as drafted. The move this follows months of negotiation and litigation between Caesars and its bondholders week.

Caesars countered why these creditors try ‘to wreak havoc on the process that is orderly debtors, their professionals, plus the many consenting stakeholders have been planning for months.’

Good Caesars / Bad Caesars

Caesars acquired most of its debt when it went private in 2008, following a $30.1 billion takeover by Apollo worldwide Management and TPG Capital, simply round the start of the global economic downturn.

The group, with its 50 casinos across the US, suffered as the recession hit the land-based casino industry in America.

Caesars has lost cash every year since 2009, and has struggled to pay the attention on its enormous debt. It recently posted 2014 Q3 losses of $908.1 million and last thirty days defaulted on a $225 million repayment.

‘We believe this restructuring is within the needs of CEOC’s stakeholders and certainly will result in a sustainable money structure for CEOC and value creation for several stakeholders,’ said Loveman.

‘The restructuring of CEOC is the culmination of a years-long effort to improve the health of CEOC’s stability sheet, which includes included substantial investment in brand new and upgraded assets, especially in Las Vegas. I am extremely confident in the future leads of our enterprise, which will combine a capital that is improved with a community of lucrative properties.’

However, Caesars’ disgruntled creditors have accused Apollo and TPG of attempting to create a ‘good Caesars,’ that will have its famous and properties that are valuable and a ‘bad Caesars’ to hold your debt.

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