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

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

North nj-new Jersey casino expansion: State Senate President Steve Sweeney wants residents to vote in the issue in 2016 november.

North New Jersey wants to offer Atlantic City a run for its money. And New Jerseyans may yet obtain the right to vote for casino expansion beyond the Boardwalk.

State Senate President Steve Sweeney has reintroduced legislation calling for a 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 the state-wide vote on the issue take place in November 2016.

Issue of North Jersey casino expansion has been 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 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 first casinos and the emergence of those new areas will definitely damage the nj-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 time for the voters to decide. Expanding gambling to North Jersey is the best method to revitalize an industry that is essential towards the state’s economy making sure that we can compete with neighboring states, generate the revenue needed to revive Atlantic City and contribute to economic growth.’

The bill would guarantee that no new casinos could be built within 75 miles of Atlantic City and that casinos in the north would pay a much higher income tax on their gaming revenues than the eight per cent presently paid by Atlantic City casinos.

High Taxes

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

Forty-nine percent of the tax revenue would then head to Atlantic City to compensate for the inevitable loss of business, while another 49 percent would go to counties and municipalities, therefore the remaining two percent would benefit New Jersey’s horse industry that is racing.

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

‘North Jersey gambling enterprises would be disastrous for our neighborhood economy, driving jobs and investment out of our area,’ stated mayor that is former Whelan on Twitter this week.

Present financial reports recommend that AC is bouncing back and that the town’s casino profits were up 55.9 percent in Q3 this year. However, Moody’s Investment Analysts warned that this ended up being more likely a reflection for the recent casino closures, which have boosted revenues for people who remain. Moody’s said it expected further closures in the year that is coming.

Sheldon Adelson Confirmed as New Las Vegas Review-Journal Owner

That is The Boss? Apparently, it’s now Sheldon Adelson, who has assumed control associated with Las Vegas Review-Journal, Nevada’s newspaper that is largest. (Image: politico.com)

Sheldon Adelson has been unmasked because the new owner of the Las Vegas Review-Journal, having been exposed by the newspaper that is very had anonymously purchased per week earlier.

As reported here early in the day 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 ended up being that a newly incorporated company, News + Media Capital Group, was now at the helm and they should ask no more questions.

‘They want you to definitely concentrate on your jobs … do not be worried about who they’re,’ was the pep talk offered by one Michael Schroeder, a News + Media Capital Group manager during the first staff meeting under the brand new ownership.

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 request to eliminate sources to the proprietor’s anonymity.

Requires Transparency

It was not just LVRJ’s people who have been alarmed, as other journalists began calling for transparency too, and the whole 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 suggested they were interested in buying political 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 numerous 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 ultimately 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 previous owner, brand New Media Investment Group.

‘He [Dumont] handles all the investments for the household,’ claimed A lvrj supply.

For all of the LVRJ staff knew, they might have been risking their jobs by printing the tale, but that doesn’t be seemingly the actual situation. Instead, the Adelson family made a announcement that is formal of ownership of the magazine just hours after the tale broke.

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

One journalist that is such current LVRJ columnist John L. Smith, whoever 8-year-old daughter was suffering from mind 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 full situation with prejudice, after Smith’s attorney effectively argued that the case ended up being not about defamation, but about Adelson making an exemplory instance of those that crossed him.

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

RAWA Dead into the Water for 2015

Representative Jason Chaffetz, whom introduced RAWA towards the House and floundered during a recent congressional hearing on online gaming. (Image: nbcnews.com)

The Restoration of America’s Wire Act (RAWA) has failed to attach itself to an omnibus spending 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 the end of 2016.

In a way, they hoped, RAWA would be passed into law with as little fuss as possible, much such as the Unlawful Internet Gambling Enforcement Act had been slipped onto the end of legislation created to regulate port security a decade ago.

It had been the tactic that is same in reality, used in 2014, when RAWA additionally missed the omnibus. Fortunately for America’s online gambling industry, it may have to wait a very long time for the next one to arrive. 12 months, become precise.

And since RAWA in its present form is very unlikely to be accepted by both chambers, sneaking onto that bus with no solution perhaps remains its option that is best.

RAWA Flounders

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

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

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

Only eight AG’s were prepared 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 ended up being greatly criticized by Nevada Governor Brian Sandoval for his actions, and numerous felt he had betrayed the Silver State, which opted to legalize and manage on-line poker in late 2013.

Adelson Re-raise

Representative Jason Chaffetz (R-Utah), who introduced RAWA to the House in early stages within 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 could be sufficient to trot every tired cliché of the anti-online gambling movement, with lazy sources to terrorism, money-laundering and kid corruption, except it didn’t quite exercise that way, therefore the arguments against regulation took a drubbing.

For RAWA, it appears, the chips are down.

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

His purchase of the vegas Review-Journal may offer him extra clout in their bid to gain governmental capital and shape views on online gambling in the video gaming money of America.

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