{"id":13899,"date":"2014-06-24T09:32:17","date_gmt":"2014-06-24T17:32:17","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=13899"},"modified":"2017-12-04T08:55:02","modified_gmt":"2017-12-04T16:55:02","slug":"casinos-get-november-surprise","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/casinos-get-november-surprise\/","title":{"rendered":"Casinos get November surprise"},"content":{"rendered":"

\"Coakley\"<\/a>In news that Deutsche Bank<\/strong> analyst Carlo Santarelli<\/strong> called a “fiasco,” the Massachusetts Supreme Judicial Court<\/strong> has decided to allow Bay State voters to decide whether or not to repeal the state’s casino law. Hardest-hit in a worst-case scenario would be Penn National Gaming<\/strong>, which paid $25 million for a licensing fee (likely to be refunded) and $60 million on its Plainville<\/strong> slot parlor. To recap, state Attorney General Martha Coakley<\/strong> (D, left<\/em>) had opposed the ballot question as an uncompensated taking of property. Initiative backers favored it because, well, they don’t like casinos. In a shameless reversal, Coakley — who is running for governor — gave the court’s decision the thumbs-up<\/a>:\u00a0\u201cNow, with today\u2019s decision, voters will have the final say.\u201d<\/p>\n

Explained reporter Bob Salsberg<\/strong>, “Arguing to get the repeal question on the ballot, casino opponents said developers aren\u2019t entitled to any compensation because no property or contract rights exist. They also maintained that the state has ‘police powers’ to revisit and revise laws affecting ‘public morals and welfare’ at any time.”<\/p>\n

It was fear of just such a reversal that caused MGM Resorts International<\/strong> to ask for a delay in the issuance of its casino license. It will now sit on its $85 million fee payment until November and see what the electorate says. Wynn Resorts<\/strong> or Mohegan Sun<\/strong>, whichever wins the Boston<\/strong>-area license in September, is likely to do the same.<\/p>\n

\"MGM<\/a>“While polling indicates a coin flip in November,” wrote Santarelli, “it is our understanding that the phrasing of the question on the ballot will differ from the phrasing being offered in recent polling. Furthermore, we believe polling of voters, using the actual ballot phrasing, is considerably more favorable and pro gaming. Lastly, we would note that both of the license holders and some of the remaining participants for the yet to be awarded licenses are using considerable union labor, thus, we would anticipate the unions will be strong supporters of the gaming initiative.”<\/span><\/p>\n

* — State givebacks to Delaware<\/strong> racinos have been pared down<\/a> as the bill nears a state senate vote.<\/p>\n

* — New Jersey state Sen. Raymond Lesniak<\/strong> (D) is spoiling for a fight with the federal government, introducing a bill to facilitate\u00a0sports betting<\/a> at tracks at casinos.\u00a0\u201cMonmouth Park<\/strong> will be ready to go in September, and I\u2019ll be there to place the first bet,\u201d he predicted. Lesniak can be confident of widespread support (64%) among Garden State voters as well. It’s a revenue fix that would relieve racetracks and casinos at neither’s expense. <\/span><\/p>\n

\u201cThe state doesn\u2019t authorize it, but \u2026 the state doesn\u2019t prohibit it. The state doesn\u2019t do anything,\u201d said state Sen. James Whelan<\/strong> (D), explaining the difference between Lesniak’s bill and the one just shot down by the Supreme Court<\/strong>.<\/span><\/p>\n

* — Two Reno<\/strong>-area casino companies are taking opposite stands. Peppermill Resorts<\/strong> has signed up with Station Casinos<\/strong> affiliate Ultimate Poker<\/strong>. But Peppermill’s main rival, Atlantis Casino Resort Spa<\/strong> is invoking “social responsibility” for opting out of online gambling<\/a>.\u00a0“Just because you can do something doesn’t mean you do it,” said Atlantis CEO John Farahi<\/strong>. At least he’s not doing a Sheldon Adelson<\/strong> and trying to dictate policy to everyone.<\/p>\n","protected":false},"excerpt":{"rendered":"

In news that Deutsche Bank analyst Carlo Santarelli called a “fiasco,” the Massachusetts Supreme Judicial Court has decided to allow Bay State voters to decide whether or not to repeal the state’s casino law. Hardest-hit in a worst-case scenario would … 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":[23,37,112,11,167,69,79,74,32],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/13899"}],"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=13899"}],"version-history":[{"count":4,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/13899\/revisions"}],"predecessor-version":[{"id":20704,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/13899\/revisions\/20704"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=13899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=13899"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=13899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}