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

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North N<span id="more-11593"></span>j-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 on the issue in November 2016.

North nj-new jersey wants to provide Atlantic City a run for the 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 new gambling enterprises should be built in the part that is north of state, throughout the water from New York City, breaking AC’s longstanding monopoly.

The bill proposes that the vote that is state-wide the issue take destination in November 2016.

Issue of North Jersey casino expansion was muted before. Atlantic City has suffered from the legalization of casino gaming within abutting states, and increased competition had been 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 certainly damage the nj-new Jersey market.

Strategic Importance

But North Jersey’s proximity to Manhattan therefore the New York greater metropolitan area makes it a strategically advantageous location for casinos, which Sweeney believes would lure droves of gamblers across the Hudson.

‘The question of gaming outside of Atlantic City has long been debated,’ Sweeney said. ‘ Now may be the time for the voters to decide. Expanding gambling to North Jersey is the way that is best to revitalize a business that is very important towards the state’s economy to ensure 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 make sure 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 than the eight percent currently compensated by Atlantic City gambling enterprises.

High Taxes

Tricky Rock Global as well as the Meadowlands Racetrack, which want to build a casino in East Rutherford, house to the New York Giants and New York Jets, have wanted to pay as much as 55 percent in taxes.

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

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

‘North Jersey casinos would be disastrous for our regional economy, driving jobs and investment away from our region,’ stated former mayor James Whelan on Twitter this week.

Recent 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 was much more likely a reflection regarding the casino that is recent, which have boosted revenues for people who stay. Moody’s said it expected further closures in the approaching year.

Sheldon Adelson Confirmed as Brand New Las Vegas Review-Journal Owner

Who’s The Boss? Apparently, it is now Sheldon Adelson, who has assumed control of this Las vegas, nevada Review-Journal, Nevada’s newspaper that is largest. (Image: politico.com)

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

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

All they certainly were told was that the newly incorporated business, News + Media Capital Group, was now during the helm and they need to ask no longer concerns.

‘They want you to focus on your jobs … do not worry about whom they’re,’ was the pep talk provided by one Michael Schroeder, a News + Media Capital Group manager during the very first staff conference beneath the new ownership.

And while Schroeder assured staff that their editorial independence would not be compromised by their new mystery owner, a front page story on the sale that evening was redacted at Schroeder’s request to remove references to the proprietor’s anonymity.

Demands Transparency

It wasn’t just LVRJ’s people have been alarmed, as other journalists began calling for transparency too, and the whole story 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.

Moreover, the premium price compensated by the buyer proposed they certainly were thinking about buying political clout, rather than a considered financial investment, which made it all the more important that their identification and affiliations be disclosed.

The fact that LVRJ is the dominant news outlet in the swing that is early-voting 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, confronted with a conundrum, RJ staff did what journalists that are good: 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 senior vice president of finance and strategy at Las Vegas Sands Corporation, had brokered the deal between News + Media Capital Group as well as its previous owner, New Media Investment Group.

‘He [Dumont] handles all the investments for your 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 whole story, but that doesn’t be seemingly the case. Instead, the Adelson family made a announcement that is formal of ownership of the newspaper just hours after the story broke.

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

One such journalist was current LVRJ columnist John L. Smith, whoever 8-year-old daughter ended up being suffering from brain cancer tumors at that time of the litigation. His daughter ultimately survived, but Smith was pushed into bankruptcy.

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

The suit was in reaction 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, whom introduced RAWA to your 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 investing 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 while the end of 2016.

In a way, they hoped, RAWA would be passed into law with as little fuss as possible, much like the Unlawful online Gambling Enforcement Act was slipped onto the end of legislation created to regulate port safety a decade ago.

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

And since RAWA in its current kind is very unlikely to be accepted by both chambers, sneaking onto that bus without a ticket perhaps remains its most 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 normal allies in the GOP decry it as an unconstitutional breach for the Tenth Amendment that seeks to stymie states’ rights, while Democrats who might normally disapprove of online gambling are loathe to install by themselves 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 cooking RAWA.

Just eight AG’s were willing 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 had been heavily criticized by Nevada Governor Brian Sandoval for his actions, and numerous felt he had betrayed the Silver State, which opted to legalize and manage online poker in belated 2013.

Adelson Re-raise

Representative Jason Chaffetz (R-Utah), whom introduced RAWA to the House in early stages into the 12 months, fared no better at a recent house hearing for the legislation, which he himself chaired, utilizing the somewhat charged title: ‘A Casino in Every Smartphone: Law Enforcement Implications.’

Chaffetz had presumably hoped it will be sufficient to trot every tired cliché of the anti-online gambling movement, with lazy recommendations to terrorism, money-laundering and youngster corruption, except so it didn’t quite work out that way, and also the arguments against regulation took a drubbing.

For RAWA, it appears, the chips are down.

Except Adelson has just tossed in a massive reraise.

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

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