{"id":13627,"date":"2014-05-20T12:46:47","date_gmt":"2014-05-20T20:46:47","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=13627"},"modified":"2019-07-11T08:56:56","modified_gmt":"2019-07-11T16:56:56","slug":"more-states-covet-internet-lucre-steeplechase-in-new-york","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/more-states-covet-internet-lucre-steeplechase-in-new-york\/","title":{"rendered":"More states covet Internet lucre; Steeplechase in New York"},"content":{"rendered":"

Pennsylvania<\/strong> is keeping a \u00a0close eye on Internet<\/strong> gambling in New Jersey<\/strong>. That much is clear from recent testimony before the\u00a0House Democratic Policy Committee<\/strong>. “It can be regulated and controlled and …\u00a0the existing technology can accurately locate players to prevent out-of-state players from participating. The technology can also prevent minors from playing. There are also provisions for preventing money laundering.” Those were the conclusions of Pennsylvania Gaming Control Board<\/strong> Executive Director Kevin O’Toole<\/strong>. As in Atlantic City<\/strong>, he would have the Internet licenses restricted to existing casino owners.<\/span><\/p>\n

Caesars Entertainment<\/strong> Senior Vice President David Satz<\/strong> told lawmakers that the addition of Internet gaming raised attendance at its casino properties by 11%. (If only it did the same for revenue.) Predictably, there was a knot of naysayers, sent by Sheldon Adelson<\/strong>.\u00a0“I want to make money from those who can afford it,” ran a recent Adelson stemwinder. “But I can’t tell over the internet who is underage. I can’t tell who’s got financial difficulties. I can’t tell who is not gaming responsibly. I can’t tell if money is being laundered. I can in the casino.” Uh, your FinCen<\/strong>-compliance record suggests otherwise, sir.<\/span><\/p>\n

(Adelson’s anti-‘Net push puts him on the wrong side<\/a> of the National Governors Association<\/strong>. The real question, though, might be why Govs. Rick Perry<\/strong> [R-TX] and Nikki Haley<\/strong> [R-S.C.] are willing to barter away their states’ rights just to strike a blow at the Web.)<\/p>\n

\"sheldon-adelson_170x170\"<\/a>Adelson’s minions might be better off to point out the tendency of revenue projections to come up well short. For instance, a study commissioned by the Commonwealth of Pennsylvania projected $113 million in tax revenues — pretty unlikely, based on what we’re seeing in New Jersey and Nevada<\/strong>. In any event, it’s an uphill fight, as state Senate Majority Leader Dominic Pileggi<\/strong> (R) appears to be opposed. In addition to recommending wagering on fantasy sports and election outcomes, the report endorsed looser credit-extension policies for the state’s casinos.<\/p>\n

New York<\/strong> is also watching developments with interest. A second bill to legalize online poker has been introduced: 10 licenses, $10 million each — and no one who was operating in the U.S. after UIGEA’s passage in 2006 would be eligible. Compacts for interstate play would be allowed and the action would be taxed at 15%. If the Lege is so inclined, this could be up and running long before the Empire State’s four new casinos.<\/p>\n

Elsewhere in New York<\/strong> … developer David Flaum<\/strong> has tapped the Chickasaw Nation of Oklahoma<\/strong> to be his casino operator<\/a> at E23<\/strong>. Also, Och-Ziff Management Group<\/strong>, thought to be in the hunt for its own casino, has been identified as financier for the project. The Chickasaw Nation already owns 19 casinos<\/a>, including Oklahoma’s WinStar World Casino & Resort<\/strong>, “a\u00a0mammoth gambling emporium is billed as the world’s largest casino, with its more than 500,000 square feet of gaming floor, 6,700 slot machines, 76 gambling tables and an off-track betting<\/span><\/em>\u00a0parlor<\/em>.”<\/span><\/p>\n

If Texas<\/strong> ever legalizes racinos, the Chickasaw Nation will be in a catbird seat: Its Global Gaming Solutions<\/strong> (which will run E23) owns a horse track in the Lone Star State. Elsewhere in the greater Albany<\/strong> area, Saratoga Casino & Raceway<\/strong> is partnering with Churchill Downs<\/strong> to build a casino-only development. Neil Bluhm<\/strong> and Galesi Group<\/strong> at looking at the former Alco site in Schenectady<\/strong>. Then there are the owners of Howe Caves<\/strong>, whose proposal sounds comically naive, as though spelunking and running a casino were closely related disciplines.<\/p>\n

* Customers took Meadows Racetrack & Casino<\/strong> to the cleaners last month. Table-game revenue dropped 57%. I’m sure Cannery Casino Resorts<\/strong> is happy to be getting out (at an up-market price) and purchaser GLPI<\/strong> is even happier this didn’t happen on its watch.<\/p>\n

Meanwhile, what are the Menominee up to?<\/strong>
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