{"id":12860,"date":"2014-02-26T10:58:51","date_gmt":"2014-02-26T18:58:51","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=12860"},"modified":"2014-02-26T11:23:06","modified_gmt":"2014-02-26T19:23:06","slug":"revere-mohegan-sun-rising-in-the-east-dose-of-reality-in-new-jersey","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/revere-mohegan-sun-rising-in-the-east-dose-of-reality-in-new-jersey\/","title":{"rendered":"Revere: Mohegan Sun rising in the east; Dose of reality in New Jersey"},"content":{"rendered":"

Election results are in from Revere<\/strong>, where Suffolk Downs<\/strong> and Mohegan Sun<\/strong> are partnering to build a racino. It wasn’t even close. Casino opponents were heavily outspent and, in the end, heavily outvoted, being crushed in a landslide<\/a>, 63% to 37%. The facts of the case speak so powerfully for themselves that further commentary seems superfluous. Mohegan Sun now goes up against Wynn Resorts<\/strong> and CEO Mitchell Etess<\/strong> couldn’t help taunting Steve Wynn<\/strong>, saying, “We\u2019re going to win this license because our application to Massachusetts<\/strong> is unconditional.” (Wynn wants a tax break and sundry other tweaks.) Revere residents would like a tax break of their own<\/a>, along with the jobs Mohegan Sun would bring<\/a>. As for Suffolk Downs, if it continues to harp on its threat to end live racing sans<\/em> casino, it’s going to sound like economic blackmail.<\/p>\n

\"Parx<\/a>Today, the Massachusetts Gaming Commission<\/strong> looks at the impact and planned mitigation of three proposed slot parlors. So far, Penn National Gaming<\/strong>‘s Plainville<\/strong> project and Cordish Cos<\/strong>.’ rival proposal for Leominster<\/strong> have been fighting to a draw. Leominster has less competition working in its favor<\/a> while Plainridge has a denser population base to draw upon. You can judge the three designs for yourself<\/a>. (To date, Greenwood Racing<\/strong>‘s $220 million Raynham Park<\/strong> proposal is in the ‘also ran’ category<\/a>.) Massachusetts could lose, big time, on tax revenues if the\u00a0Wampanoag Tribe of Gay Head<\/strong> prevails in federal court over its bid to build a casino. In the meantime, the project moves inexorably forward<\/a>, opposition from the state and from local selectmen be damned.<\/p>\n

\"senlesniak\"<\/a>Facing grim reality, Gov. Chris Christie<\/strong>‘s office ‘fessed up that tax revenues from online gambling in New Jersey<\/strong> were going to come in nowhere close<\/a> to what the governor had projected. An initial estimate had been an extremely optimistic $200 million, later pared to $160 million. Now it’s $34 million. Quoth the state treasurer, “clearly this hasn\u2019t met our expectations for the first fiscal year.” 2015 doesn’t look significantly better: $55 million is projected for that year. State Sen. Raymond Lesniak<\/strong> (D, right<\/em>) had predicted $60 million, which at least makes him less wrong than Christie, who he says “just threw [cautionary thoughts] out the window.” Now the Garden State has to look someplace else for those hundreds of millions it thought it would make off the ‘Net.<\/p>\n

Add Deadwood<\/strong>, South Dakota<\/strong> to the markets struggling with casino saturation. Revenues were off 4% last month<\/a>. However, this will enable the casinos there to get\u00a0roulette, keno and craps from the state Legislature. There’s nothing like a revenue crisis to loosen the legislative spigot.<\/p>\n","protected":false},"excerpt":{"rendered":"

Election results are in from Revere, where Suffolk Downs and Mohegan Sun are partnering to build a racino. It wasn’t even close. Casino opponents were heavily outspent and, in the end, heavily outvoted, being crushed in a landslide, 63% to … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,70,28,14,26,172,37,112,167,69,31,20],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12860"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=12860"}],"version-history":[{"count":4,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12860\/revisions"}],"predecessor-version":[{"id":12866,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12860\/revisions\/12866"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=12860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=12860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=12860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}