This neck and neck finish at Suffolk Downs Boston-area racetrack is symbolic of how their casino vote is unfolding. (Image source: Boston Globe)
In the town of Boston, there’s only one problem keeping city residents up at night these days: can the Red Sox win their under developed Series title in 10 years? But while David Ortiz and also the rest of the Sox are busy battling the St. Louis Cardinals for baseball bragging liberties, there’s another battle brewing under the surface and it might be just as contentious as the obstruction ruling that finished Game 3.
Bugles Playing ‘First Call’
Both supporters and opponents regarding the plan to create a casino in East Boston are ramping up their efforts to get the vote out in the ultimate times before the November 5th election, as both sides are anticipating a close race that could drop to voter turnout. The casino, which would be placed at Suffolk Downs, is now a hotly debated issue in churches, on street corners, and even among candidates for mayor.
Anti-casino forces feel just like they’re seeing some possible for a noticeable modification by means of the vote though that could be either good or negative. The exit of Caesars Entertainment as being a partner for Suffolk Downs in the casino bid recently has thrown the competition into chaos, because it has confused voters over whether or not they would like to support the master plan.
That confusion has shown up in the polling of a company referred to as Friends of East Boston, which opposes the casino project. According to lead organizer Pedro Morales, the group does phone polling of 1,200 to 1,500 huuuge casino reviews East Boston residents every day. Before the news about Caesars departure from the project, about 10 percent of residents had been nevertheless undecided about whether or not to support the Suffolk Downs bid. Now, that number is within the selection of 22 % to 24 percent every day.
‘Last night, one precinct went from 22 percent to 37 percent,’ Morales told the Boston Herald. ‘I’m maybe not saying at all that that’s automatically to our advantage. They could easily say they’re waiting to see whom the partner that is new. The least that may be said is that uncertainty has definitely been introduced.’
Neck and Neck Towards the line that is finish
According to Morales, their polling shows that about 40 percent are for the casino bid, with another 40 per cent opposing it. Suffolk Downs says that they don’t see precisely the same numbers, and they believe undecided voters are won over by hearing the information on their proposal.
But irrespective of the exact numbers they have, both edges clearly feel the matter wasn’t decided yet and meaning a great amount of efforts to get voters on their respective sides into the final days before the election.
‘we are doing some door-to-door canvassing, we’re providing rides to the polls and we’ve been supports that are ID’ing the means,’ said Suffolk Downs COO Chip Tuttle. According to Tuttle, hundreds of volunteer casino supporters will likely be canvassing on their behalf in the week that is last Election Day, planning to go to tens of thousands of voters and promote the virtues for the casino plan to them.
Opponents of the casino bid won’t be sitting on the hands, either. They’ve set up a base camp at a neighbor hood church, where religious leaders and others in the community are working together to oppose the efforts of Suffolk Downs.
‘It’s really, really simple,’ Morales said. ‘If you love your community, your household, your churches, the casino can’t be good for you.’
Brand New York Casino Expansion Could Prompt North Jersey Casino
If voters give a thumbs up to New York State casino expansion, will North Jersey be next to create? (Image source: WCBS 880)
In a lot of ways, the battle for the northeastern casino market has turned into an arms race between your states. And which means that when one neighbor unveils a brand new gun, it’s only a matter of the time before another answers in type. That’s why there’s now significant amounts of conjecture that the latest round of casino expansion planned for ny could ultimately result in a brand new casino in North Jersey, as nj-new Jersey continues to keep their shrinking share for the regional casino market in that area.
The threat that is new of in ny hasn’t materialized yet and it may never ever take place at all. New Yorkers are going to the polls on Election in November to decide whether or not to approve the building of new, ‘Las Vegas-style’ casino resorts in upstate New York day. But passage seems at least reasonably most likely, which could add yet more competition that is regional the mix.
One Upsmanship But Could It Be Working?
And should more gambling enterprises be added in other states, it is likely that New Jersey would see that being an invitation to incorporate a casino that is new of own. An area in northeast New Jersey that is already the site of the Meadowlands Sports Complex: home to the Meadowlands Racetrack, MetLife Stadium (which houses the New York Jets and the New York Giants), and the Izod Center, which formerly hosted the New Jersey Nets (which have since become the Brooklyn Nets) and the New Jersey Devils hockey team in particular, politicians and industry insiders are imagining the possibility of a casino in the Meadowlands.
Are you still with us?
According to some in North Jersey, the state is losing a good amount of potential income by not having a casino in that area of the state. Lots of gamblers, they say, are headed to the Empire Casino in Yonkers, NY or nearby Pennsylvania casinos in Bethlehem and also the Poconos. These locations are lot far more convenient to access for many nj-new Jersey residents than the casinos in their own state.
‘Do you might think people from northern nj ‘re going to drive all of the way to Atlantic City when they want to play the slots for a few hours?’ asked Jeffrey Gural, operator of the Meadowlands racetrack. ‘Gas is $4 a gallon. I am told by you.’
But while the threat of more regional casinos may be the spark that finally pushes the state to seriously consider a Meadowlands casino, the idea has held it’s place in the works for the whilst. And in reality, the battle that is biggest could be the one between Atlantic City and North Jersey. Many Atlantic City officials worry that a new casino in northern brand New Jersey will be the death knell for the city’s already flailing land gaming industry.
Atlantic City Revival Nevertheless Needs A come to Jesus
The revival of Atlantic City has been a major policy point for New Jersey Governor Chris Christie, who says that he doesn’t want any new casinos to be built outside of the city at least until his five-year plan for revitalizing the casino industry there was offered an opportunity to work. While that effort might not have had quite the results Christie was hoping for therefore far, losses have actually at the least slowed in Atlantic City plus the governor’s office says if he had known New York was planning to build new casinos that he would have followed the same plan even.
‘[The plan to construct new gambling enterprises in brand New York] doesn’t change we can to maintain or grow our presence in the competitive casino market,’ said Michael Drewniak, a spokesman for the governor that we set out at the beginning of the administration to give Atlantic City the best chance.
LAND CASINO SATURATION IN THE US:
Across the United States, gaming analysts warn that the brick-and-mortar casino industry is nearing its saturation point. A Fitch gaming analyst, told Bloomberg News that land-based gaming was ‘close’ to this level already, and University of Nevada, Reno professor Mark Nichols concurred, saying ‘…everybody is pretty much the same and everybody is on the same playing field in early 2013, Alex Bumazhny. Then it just comes down to location.’
With Atlantic City’s land gaming revenues down a whopping 50 percent since neighboring Pennsylvania started its casino doors in 2006, sufficient reason for even newer casinos in Illinois and Maryland struggling to meet profit objectives, it’s hard to argue with this specific obvious reality that is new.
Several states are now actually looking to burgeoning legal and regulated online state-by-state gambling to choose the slack up. With Nevada already offering online poker, and Delaware and brand new Jersey perched to provide full casino games before year’s end, the gambling industry too as state coffers around the world will certainly be waiting and watching to observe how this new aspect plays out.
Las Las Vegas Sands 3rd Quarter Macau Profits Shine Versus Las Vegas
It’s all about Macau: Las Vegas Sands Corp.’s 3rd quarter profits were soaring into the Asian gambling mecca.
Location, location, location: that’s what they always say in property. And for Las vegas, nevada Sands Corp., that’s proving entirely true, even though, ironically, it’s Macau, not Las vegas, nevada, that’s turning out to be the casino company’s shining star.
‘(Las Las Vegas Sands) stays predominantly A asia secular-driven tale,’ noted Macquarie Securities gaming analyst Chad Beynon following the Sands’ third quarter P & L statement. ‘In our view, Las Vegas Sands continues to be the most readily useful Asian gaming development and cash flow investment story.’
Macau Carries the Day
Despite a so-so performance through the Sands’ shnazzy Las Vegas Strip properties, the Venetian plus the Palazzo, analysts are still gung-ho on Las Las vegas Sands’ overall financial outlook.
‘We continue steadily to like Macau video gaming sector overall, driven by attractive marketwide revenue growth, especially in the mass gaming segment,’ added JP Morgan gaming analyst Joe Greff. ‘Las Las Vegas Sands’ hotel room base should allow [the company] to grow top line and [cash flows] in excess of the marketplace participants.’
Seems the gaming that is bully in Macau is still growing at a steroidal rate; some analysts anticipate the end-of-October figures to exceed any single-month revenue records up to now. While the July September 2013 quarter showed a 43 percent boost in Sands’ four primary Macau gaming divisions, and a staggering 89 percent bump from the same time frame duration year that is last. With $2.34 billion in net revenues from their Macau properties for the quarter that is third it results in a whopping 65 percent of the company’s overall intake of $3.57 billion.
No wonder Sands CEO Sheldon Adelson is pouring more development funding into another project there; he’s $2.7 billion earmarked for a new 3,000-room property that has a Parisian theme and a 2015 expected opening. That will make five major casinos there ( and just why maybe not once they’re making cash hand over fist): the Venetian Macau, Four Seasons Macau, Sands Macau, and the multiple-hotel Sands Cotai Central task, combined with brand new resort being planned.
Non-Gambling Profits Also Doing Well
And it’s not just gaming that’s going gangbusters for Sands in Asia; non-gaming revenues are pulling their weight as well, in accordance with Rob Goldstein, the organization’s president of global video gaming operations.
‘With our room base, that is clearly a very positive thing for us,’ Goldstein stated, referring to the trend of mainland Chinese tourists coming to and staying in Macau. ‘They stay longer, come from further away and require sleeping rooms. So Sheldon’s (Adelson) 9,000 sleeping rooms in Cotai proved to be a pretty good idea.’
Susquehanna International Group gaming analyst Rachael Rothman agrees, adding that the growing influx of tourists to Macau highlights ‘…the importance of this infrastructure build-out in greater China that continues to increase Macau’s reach.’
Adelson is the major factor to that much-needed infrastructure, with a $10 billion Hong Kong-Macau-Zhuhai Bridge slated to open in 2016. The bridge will greatly reduce the drive time it takes for people to reach Macau from China, which, as anyone who has ever sat in traffic knows, is always a good thing.
Sands’ Macau success has analysts chomping to see just what the casino business will do whenever and if Japan legalizes gambling also. Sands president Michael Leven says that Asian nation’s $6 billion a casino market would match what’s happening on the las vegas strip, but macau’s $38 billion take in 2012 will be hard to top, especially as those figures are up another 17 percent as of end of third quarter 2013 year.