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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 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 issue in 2016 november.

North nj-new jersey wants to offer Atlantic City a run for the money. And 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 a referendum on whether two brand new gambling enterprises should be built in the part that is north of 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 place in November 2016.

The question of North Jersey casino expansion is muted before. Atlantic City has experienced 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 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 actually both opted to license their first casinos and the emergence among these new areas will certainly damage the New Jersey market.

Strategic Importance

But North Jersey’s proximity to Manhattan while the New York greater metropolitan area makes 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 way that is best to revitalize a business that is essential to your state’s economy so that we can compete with neighboring states, generate the revenue needed seriously 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 gambling enterprises within the north would pay a much higher income tax on their gaming profits compared to the eight % presently paid by Atlantic City gambling enterprises.

High Taxes

Tricky Rock Overseas and also the Meadowlands Racetrack, which want to build a casino in East Rutherford, home to the brand New York Giants and New York Jets, have actually wanted to pay because much as 55 percent in taxes.

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

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

‘North Jersey gambling enterprises would be disastrous for our local economy, driving jobs and investment out of our area,’ said 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 per cent in Q3 this year. However, Moody’s Investment Analysts warned that this had been much more likely a reflection of this recent casino closures, which have boosted revenues for people who stay. Moody’s said it expected further closures in the year ahead.

Sheldon Adelson Confirmed as New Las Vegas Review-Journal Owner

Who’s The Boss? evidently, it is now Sheldon Adelson, who has assumed control of the vegas Review-Journal, Nevada’s largest magazine. (Image: politico.com)

Sheldon Adelson has been unmasked once the new owner associated with the Las Vegas Review-Journal, having been exposed by the very magazine he had anonymously purchased per week earlier.

As reported right here early in the day this week, LVRJ staff had been puzzled and a little dismayed to understand last Thursday that the newspaper had been sold up to a mystery owner for $140 million.

All they certainly were told was that the newly incorporated company, Information + Media Capital Group, was now at the helm and they should ask no further concerns.

‘They want you to definitely consider your jobs … do not worry about whom they’ve been,’ was the pep talk offered by one Michael Schroeder, a News + Media Capital Group manager during 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 front page story on the sale that evening was redacted at Schroeder’s demand to get rid of sources to the proprietor’s anonymity.

Calls for Transparency

It wasn’t just LVRJ’s people who 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 at the Missouri School of Journalism, told the Los Angeles circumstances, the purchase of a newspaper to an owner or organization that refuses to be identified is unprecedented in media history.

Additionally, the premium price paid by the buyer proposed these people were thinking about buying clout that is political rather than a considered financial investment, which made it all the more crucial that their identity and affiliations be disclosed.

The fact that LVRJ is the dominant media outlet in the early-voting move state of Nevada suggested to a lot of 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 good journalists do: they started 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 particular former owner, brand New Media Investment Group.

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

For all of the LVRJ staff knew, they are able to have been risking their jobs by printing the story, but that doesn’t be seemingly the truth. Instead, the Adelson family made a announcement that is formal of ownership of the newsprint just hours after the story broke.

Meanwhile, whatever Adelson’s certain reason for getting his fingers regarding the LVRJ, be it business or politics, their 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, separately, for libel into the past.

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

Adelson eventually decided to dismiss the full situation with prejudice, after Smith’s attorney successfully argued that the case had been not about defamation, but about Adelson making an exemplory instance of those who crossed him.

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

RAWA Dead in the Water for 2015

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

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

The bill proposes a ban that is federal all forms 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 piece of legislation that largely outlines federal fiscal outlays between now therefore 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 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 come along. Twelve months, become precise.

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

RAWA Flounders

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

Meanwhile, most of the Republican mega-donor’s natural allies in 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 on their own to a policy developed 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 baking RAWA.

Just 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 regulate internet poker in belated 2013.

Adelson Re-raise

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

Chaffetz had presumably hoped it would be sufficient to trot every tired cliché of the anti-online gambling movement, with lazy references to terrorism, money-laundering and child corruption, except that it didn’t quite exercise that way, while the arguments against regulation took a drubbing.

For RAWA, it seems, the chips are down.

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

His purchase of the Las Vegas Review-Journal may offer him extra clout in his bid to get governmental capital and shape opinions on online gambling in the video gaming capital of America.