Fertitta and Wynn Joining American Gaming Association for 2014

Fertitta and Wynn Joining American Gaming Association for 2014

Station Casinos Chairman Frank Fertitta III will be joining the American Gaming Association Board of Directors this year, along with Steve Wynn (Image: renoetahoe.com)

Just Take your seats and get ready for some head-whipping interplay between power players: the American Gaming Association (AGA) the Washington, D.C.-based main lobbying arm for the major casino conglomerates in America has some new constituents. It will make for an interesting year ahead since these casinos’ professionals determine the program for gambling in the usa, and in particular, online gambling.

Wynn Comes Back

Joining this powerhouse organization a group tasked largely with persuading federal legislators to take action where it’s needed in terms of gaming will be Wynn Resorts Ltd., Station Casinos, and upscale Kentucky Derby racetrack and casino operator Churchill Downs Inc. Each of these companies will likely then have a member that is official their interests in the AGA’s board of directors.

Going back to the organization that he initially founded back in 1995 will be casino magnate Steve Wynn, chairman of his company that is eponymous obviously one of the gaming industries more invigorated proponents. After he sold his Mirage Resorts to that which was then called MGM Grand Corp. back in 1999, Wynn had walked away from the organization. His views on online gaming have been notably circumspect, as they push for more federal oversight so it will be interesting to see which way he goes on this board.

Another player that is significant think about it board will likely be Frank Fertitta III, who is Station Casinos’ chairman and thus clearly on the medial side of Internet gambling expansion; his business’s UltimatePoker internet site ended up being the first to go legal online in Nevada, therefore the entire United States. Fertitta is anticipated to join the AGA Board as well.

Heading up the AGA Board will be MGM Resorts International chairman Jim Murren, who is taking over for outgoing Board chair Richard Haddrill of Bally Technologies.

Hope and Change

It has been a year that is pivotal the AGA; the business’s first and only president, Frank Fahrenkopf Jr., stepped down this previous Spring and his position was filled by travel industry expert Geoff Freeman. Recent departures by long-time senior management at the consortium have also impacted its makeup products.

Freeman noted that with the involvement of these major industry casinos, ‘a critical step in the AGA’s evolution as a representative of the entire gaming industry [has taken place].’

However with these brand new power players may come some divisiveness too; Fertitta will obviously be into the cheering area for legal Internet gaming, as his Ultimate Gaming now runs online in both Nevada and nj-new Jersey, while long-time member and Las vegas, nevada Sands Corporation Chairman Sheldon Adelson would offer their right arm or at least many of his billions to place the kaibosh on it for good.

Although the AGA it self takes the state stand of being pro-Internet gambling, new president Freeman told GamblingCompliance.com that ‘we’re not initial association to possess members disagree on an issue…[and while] other associations might not have people with the same resources [as Adelson] to express their point of view…this happens in associations most of the time.’

Revere and Mohegan Sun Strike Casino Deal in Massachusetts

The town of Revere, Massachusetts could benefit financially if Mohegan Sun’s casino ever becomes a truth

There isn’t any guarantee that Suffolk Downs and the Mohegan Sun should be able to create a casino in the city of Revere, Massachusetts. In reality, the whole project nevertheless appears like a lengthy shot to just about everybody else who isn’t directly involved in promoting it. But if the town and the businesses involved beat the chances, they’ll be exchanging a whole lot of cash in the a long time.

Pay to Play

Mohegan Sun came to a contract with all the city of Revere which will see the casino firm pay the town $33 million in advance, in return for allowing them to run a casino during the Suffolk Downs racetrack; the project that is billion-dollar feature 4,000 slot devices, 100 game tables, and a poker space . That will simply be the initial of several payments, however, as the casino would continue slot apps with lightning link making payments that are annual the town beginning at no less than about $25 million to $30 million.

‘This agreement can be an deal that is extraordinary will assist us continue to make the transformation of Revere a real possibility,’ said Mayor Daniel Rizzo.

The deal reflects the undeniable fact that Mohegan Sun would be the operator that is only the current proposal for a casino on land owned by the race track. Suffolk Downs would serve simply as a landlord, in place of operating the facility.

If you’ve been watching the ongoing saga of the Suffolk Downs casino, you understand that this is the second effort to build a casino attached to the battle track. The attempt that is first which will have built a casino on the East Boston side of the line between Boston and Revere, ended up being refused by East Boston voters, also as Revere voters authorized it.

That proposition would are less lucrative for Revere, which wouldn’t have hosted any associated with major buildings attached to the facility. Under that host agreement, Revere had been anticipated to receive a minimum of $9 million each year.

Revere Will Make Bank

Now, the city can expect to help make at least three times that amount. In addition, Rizzo said that the host agreement language which is anticipated to be produced public soon could allow the town to receive even greater payments if the casino manages to become extremely profitable.

The cash raised through the payments would be properly used to produce income tax relief for property owners in Revere, as well as to improve services and facilities throughout the city. Mohegan Sun pointed to these and other benefits that are economic once the thousands of jobs that may be created as explanations why the deal would have been a good one for the city.

‘We’re going to drive a tremendous amount of prosperity for this city and result in a upswing that is huge the economy around here,’ said Mohegan Tribal Gaming Authority primary administrator Mitchell Etess.

But regardless of the texting, there are those that intend to arrange in opposition to the Revere proposal. No Eastie Casino plan to work with those in Revere who oppose the casino to defeat the coming referendum while Boston’s Mayor-Elect Martin J. Walsh says that he’s unsure if Boston has a legal right to stop the casino move and that he would like to negotiate a surrounding community agreement with the casino developers members of anti-casino group. They are going to be joined by way of a group from Palmer where Mohegan Sun has already lost a casino vote that claims that the casino company purposely lost the referendum there to make certain that it could then try again in the more lucrative Greater Boston area.

Mixed Emotions as Judge Okays Atlantic Club Shutdown

The end of an era: Atlantic City’s Atlantic Club will likely be closing its doors on 13 for good (Image: Edward Lea/PressofAC january)

When a veteran casino closes down, for the buyers and sellers, it is simply business. But also for the casino’s employees, it’s the increased loss of a work, and sometimes, a life-long profession. Such is the truth for the Atlantic Club open for the past 33 years in Atlantic City, and originally developed by iconic casino magnate Steve Wynn which will be closing straight down for good come 13, 2014, per Judge Gloria Burns’ orders of the court january.

Employees Weigh In

As she did so, the packed courtroom reflected the casino’s large workforce, who filled every chair; many have been employed there very nearly since its inception. Take bartender Joe Blatcher, whom says he is witnessing not only the increasing loss of his very own job, but what he sees as nefarious transactions between the city’s power players.

‘It’s a matter of the entire city wanting to eliminate a few properties so the sleep can still exist,’ Blatcher decried. ‘It seems very suspicious that two gambling enterprises can synergy to take down another one. It’s like thinning out the herd to survive.’

They say it is true in nature, so why maybe not among the wildebeests of gambling as well?

While Judge Burns noted there is no concrete proof of any collusion or fraud through the bankruptcy court hearing for Atlantic Club week that is late last it’s difficult to miss the reality that purchaser Caesars Entertainment already owns four casinos in Atlantic City, snatched it up for the fire sale price, and will probably gain somewhat by having one less casino to compete against in town.

Then again, the other properties in Atantic City probably won’t be crying over losing one of the own, either.

Regardless, the Atlantic Club employee base in attendance wasn’t convinced.

‘The worst thing is they’re doing it just to stop competition,’ said Fran Critch through tears; Critch has been a meals server at the home for 29 years, now fears she will have to put her home up for sale if she can’t find another work quickly. She is not holding out a lot of expect that to occur, either.

‘Who’s going to employ a server that is 59-year-old’ Critch wondered aloud.

Some Severance; No Pension Add-Ons

For those facing no jobs in a little over two weeks, the prospects are scary; the judge approved a deal that gives every one of some 1,600 workers during the casino just $1,500 in severance pay. And while their pension plans won’t be dissolved, they also will get no further contributions to them; an unnerving reality for those nearing retirement, no doubt.

As for the remaining portion of the game plan, Tropicana Entertainment has consented to fork over $8.4 million for all your property’s slots and gaming tables, while Caesars is spending $15 million the lowest ever paid for an Atlantic City casino your can purchase the 800-room hotel itself (although the business has no plans to keep it going), and a casino spokesperson said the intent is to divvy up most of the rest of the gear among Caesars’ four Atlantic City properties.

The sale shall bring Atlantic City’s ailing casino market down to 11 properties. New Jersey’s Division of Gaming Enforcement Director David Roebuck says this is just the reality of where in actuality the beachside resort town reaches these days.

‘We realize it is a time that is difficult the employees of Atlantic Club and all those whom are part of the history of their procedure,’ Roebuck stated. ‘[but competition that is nothing new for New Jersey and it will be no different in 2014.’

 

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