{"id":13565,"date":"2014-05-13T13:50:42","date_gmt":"2014-05-13T21:50:42","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=13565"},"modified":"2019-01-16T09:33:18","modified_gmt":"2019-01-16T17:33:18","slug":"new-york-the-rush-is-on-baloney-in-philly","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/new-york-the-rush-is-on-baloney-in-philly\/","title":{"rendered":"New York: The rush is on; Baloney in Philly"},"content":{"rendered":"

\"Seal_of_New_York.svg\"<\/a>New York State<\/strong> has come out with its required minimum casino investments, which range from $70 million to $350 million, although the reality is a complicated formula too tortuous to unravel here, laden with ‘ifs,’ ‘ands’ and ‘buts.’ (The $350 million, top-tier rate only applies to Orange County<\/strong> and Dutchess County<\/strong>, near New York City<\/strong>, with most mandatory investments being much lower.) Throw in licensing fees, land costs, etc. and the top-line cost could be more like $472 million. Saratoga Casino & Raceway<\/strong> spokeswoman Rita Cox<\/strong> was praiseful of the numbers, saying they show “a lot of thought and consideration.” Caesars Entertainment<\/strong> has already way overshot the minimum<\/a>, pledging $750 million for an Orange County<\/strong> casino.\u00a0Now we sit back and see who drops out, finding the action too rich for their blood. One that’s definitely ‘in’ is Genting Group<\/strong>, which got the green light<\/a> from the Tuxedo<\/strong> Town Board last night.<\/p>\n

Pennsylvania<\/strong>‘s Legislature commissioned a study of whether a second casino in urban Philadelphia<\/strong> would saturate the market. Those charged with conducting came back with a wholly predictable (and questionable) conclusion: No problem<\/a>! What else do you think they would going to say?<\/p>\n

This is a complete crock because the Philadelphia market has been cannibalizing itself for years now and, every month, the state itself publishes figures that prove it. The way consultant Stephen Mullin<\/strong> got around this was to say there will be ‘impact’ on existing casinos but a “sizable” increase in revenue for the state. They’re trying a variation of that experiment in Ohio<\/strong> and it’s not going so well. Mullin should look into it.<\/p>\n

* Downtown<\/strong>‘s Pioneer Club<\/strong> is getting flayed. The eventual purpose is unclear but a cocoon of aluminum is being removed<\/a>, revealed the original exterior (not counting a stucco coating on the handsome original building). One hopes people will appreciate the ‘new look’ Pioneer Club when the project is completed … and wonder why anyone would want to hide such a fine structure under a veritable suit of armor.<\/p>\n

* The unintended (?) consequences of rewriting the Federal Wire Act<\/strong> could be to override the Indian Gaming Regulatory Act<\/strong>\u00a0and take a tool of economic empowerment out of tribal hands<\/a>: “By protecting the public from themselves the federal government will take away the wicked vice before it can take advantage of the weak mindless public,” writes Great Luck<\/strong> CEO Joe Valandra<\/strong>. “The fast paced trading of securities with no limits already takes place 24 hours a day, enabled by Internet access …\u00a0there is no aspect of our lives that the internet does not touch.”<\/span>
\n<\/span><\/p>\n

* There’s quite a little ferment of activity at the University of Nevada-Las Vegas<\/strong>, where former SHFL Entertainment<\/strong> CEO Mark Yoseloff<\/strong> fosters the next generation of game developers<\/a>. One of his prize pupils, Hien Nguyen<\/strong> co-created prize-winning\u00a0Chinese Domino Video Wagering Game<\/strong> … even though she’s too young to gamble in a casino. Hers is just one of several patents pending under Yoseloff’s tutelage.<\/p>\n","protected":false},"excerpt":{"rendered":"

New York State has come out with its required minimum casino investments, which range from $70 million to $350 million, although the reality is a complicated formula too tortuous to unravel here, laden with ‘ifs,’ ‘ands’ and ‘buts.’ (The $350 … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":11543,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[51,14,120,7,37,101,95,107,8,20],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/13565"}],"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=13565"}],"version-history":[{"count":6,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/13565\/revisions"}],"predecessor-version":[{"id":23293,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/13565\/revisions\/23293"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media\/11543"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=13565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=13565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=13565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}