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

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

North New Jersey wants to give Atlantic City a run because of 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 the state-wide vote on the issue just take destination in November 2016.

The question of North Jersey casino expansion happens to be muted before. Atlantic City has suffered from the legalization of casino gaming within abutting states, and increased competition ended up being a factor that is major four Atlantic City casino closures into 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 casinos that are first the emergence of those new areas will undoubtedly damage the nj-new Jersey market.

Strategic Importance

But North Jersey’s proximity to Manhattan and also 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 certainly debated,’ Sweeney said. ‘ Now is the right time for the voters to decide. Expanding gambling to North Jersey is the best means to revitalize a business that is very important towards the state’s economy in order 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 ensure that no new casinos could be built within 75 miles of Atlantic City and that casinos within the north would pay a much higher tax on their gaming revenues compared to the eight % presently paid by Atlantic City casinos.

High Taxes

Intense Rock International and also the Meadowlands Racetrack, which want to build a casino in East Rutherford, house to this New York Giants and New York Jets, have actually wanted to pay because much as 55 percent in taxes.

Forty-nine percent with this tax revenue would then visit Atlantic City to pay for the inevitable loss of business, while another 49 percent would visit counties and municipalities, plus the remaining two percent would benefit New Jersey’s horse racing industry.

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

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

Current financial reports recommend that AC is bouncing back and that the city’s casino profits were up 55.9 percent in Q3 this season. However, Moody’s Investment Analysts warned that this was more likely a reflection for the casino that is recent, that have boosted revenues for those that stay. Moody’s said it expected further closures in the year that is coming.

Sheldon Adelson Confirmed as New Las Vegas Review-Journal Owner

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

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

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

All they certainly were told had been that the newly incorporated company, News + Media Capital Group, was now during the helm and they need to ask no more questions.

‘They want you to definitely focus on your jobs … don’t be worried about whom they truly are,’ was the pep talk made available from one Michael Schroeder, a News + Media Capital Group supervisor at the very first staff meeting underneath the ownership that is new.

And while Schroeder assured staff that their editorial freedom would never be compromised by their new mystery owner, a page that is front on the sale that evening was redacted at Schroeder’s request to get rid of recommendations to your proprietor’s anonymity.

Requires Transparency

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

Furthermore, the premium price compensated by the buyer suggested they certainly were thinking about buying clout that is political rather than considered financial investment, which made all of it the more crucial that their identity and affiliations be disclosed.

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

Public Statement

Meanwhile, up against a conundrum, RJ staff did what journalists that are good: they began searching for answers. Or as Schroeder had put it, they ‘focused on their jobs.’

Sources eventually 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 own former owner, brand New Media Investment Group.

‘He [Dumont] handles all the investments for the household,’ claimed a source that is lvrj.

For all the LVRJ staff knew, they are able to have been risking their jobs by printing the tale, but that does not seem to be the actual situation. Instead, the Adelson family produced announcement that is formal of ownership of the newsprint just hours after the story broke.

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

One such journalist was current LVRJ columnist John L. Smith, whoever 8-year-old daughter was putting up with 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 situation with prejudice, after Smith’s attorney successfully argued that the case had been not about defamation, but about Adelson making an example of people who crossed him.

The suit was at response to a probing book that included information Adelson had considered defamatory, instead of any such thing Smith had written at the Review-Journal. It are going to be interesting to see how that relationship unfolds with this particular saga that is new.

RAWA Dead into the Water for 2015

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

The Restoration of America’s Wire Act (RAWA) has failed to connect 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 bit of legislation that largely outlines federal fiscal outlays between now as well as the end of 2016.

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

It was the tactic that is same in fact, used in 2014, when RAWA also 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 current form is very unlikely to be accepted by both chambers, sneaking onto that bus with no ticket perhaps remains its most readily useful choice.

RAWA Flounders

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

Meanwhile, many of the Republican mega-donor’s natural allies in the GOP decry it as an unconstitutional breach associated with 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 recent initiative to drum up support to push RAWA throughout the line failed when Missouri Attorney General Chris Koster and South Carolina Attorney General Alan Wilson exhorted fellow attorneys basic to countersign a letter baking RAWA.

Just eight AG’s were willing 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 was 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 belated 2013.

Adelson Re-raise

Representative Jason Chaffetz (R-Utah), who introduced RAWA to the House in the beginning into the 12 months, fared no better at A house hearing that is recent of legislation, which he himself chaired, with the somewhat charged title: ‘A Casino in Every Smartphone: Law Enforcement Implications.’

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

For RAWA, it appears, the chips are down.

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

His purchase of the Las Vegas Review-Journal may offer him clout that is extra his bid to gain political capital and shape views on online gambling in the gaming money of America.