{"id":14646,"date":"2014-09-26T13:03:55","date_gmt":"2014-09-26T21:03:55","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=14646"},"modified":"2014-09-26T13:03:55","modified_gmt":"2014-09-26T21:03:55","slug":"rocky-mountain-low-crouching-tiger-hidden-ownership","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/rocky-mountain-low-crouching-tiger-hidden-ownership\/","title":{"rendered":"Rocky Mountain low; Crouching Tiger, hidden ownership"},"content":{"rendered":"

A study by — you guessed — proponents of a racino in Colorado<\/strong> is projecting some hard-to-believe numbers, \u00a0contingent upon Arapahoe Park<\/strong> being approved for \"Colorado\"<\/a>casino gambling in November. They’re predicting $418 million in statewide economic impact, including $114 million in tax revenue<\/a>. Mind you, the state’s existing casinos have struggled to generate new tax dollars after a 2008 gambling expansion in the mountains. Amendment 68<\/strong> supporters are also forecasting 2,300 new, direct and indirect jobs stemming from a racino.<\/p>\n

When pressed, pollster Thomas Zitt<\/strong> allowed that Arapahoe Park would drain 15% of business off the casinos in mountain cities like Black Hawk<\/strong>. However, the bipartisan Legislative Council projects a 30% negative impact on those same towns, probably driving the smaller casinos out of business. Zitt and track owner John Taylor<\/strong> countered with a pie-in-the-sky scenario whereby punters play at Arapahoe Park during the week, then gamble some more in the mountains on weekends. (And is Arapahoe Park really<\/em> going to sacrifice weekend play so blithely?)<\/p>\n

* A little horsetrading got a six-story hotel and 16,500-square-foot casino expansion<\/a> for the\u00a0Viejas Band of Kumeyaay Indians<\/strong>. In return, San Diego County<\/strong> gets a one-off payment of $150,000. “[Board of Supervisors<\/strong> Chairwoman Dianne<\/strong>]\u00a0Jacob<\/strong> said the funds will go toward a safety analysis of Willows Road<\/strong>, on which the casino sits, and a yet-to-be-determined project in the Alpine community.”<\/p>\n

\"Okada<\/a>* Kazuo Okada<\/strong>, former BFF of Steve Wynn<\/strong>, keeps running into problems in the Philippines<\/strong>. His Tiger Resorts Entertainment & Leisure<\/strong> has announced a one-year postponement of work on his $2 billion megaresort, now slated for a 2016 opening<\/a>. Among the problems is the absence of a local partner from Okada’s business plan. (Non-Philippine companies can own no more than 40% of a casino project, a limitation that Okada tried to skirt and got slapped for.)<\/p>\n

After approaching\u00a0Empire East Land Holdings Inc.<\/strong>, Robinsons Land Corp<\/strong>. and Century Properties Group Inc<\/strong>., Okada hasn’t been able to get to first base\u00a0with any of them. Century, in fact, is suing Tiger over an aborted condo\/retail deal. Okada’s plan, if it ever reaches fruition, is for a pair of hotel towers (500 rooms each), 3,000 slots and 500 table games. However, he’s well behind the competition. Bloomberry Resorts<\/strong> has already opened a $1.2 billion hotel-casino and Melco Crown Entertainment<\/strong>‘s $1 billion megaresort is set to open later this year. Okada isn’t quite at the back of the queue but he keeps getting nearer to it.<\/p>\n","protected":false},"excerpt":{"rendered":"

A study by — you guessed — proponents of a racino in Colorado is projecting some hard-to-believe numbers, \u00a0contingent upon Arapahoe Park being approved for casino gambling in November. They’re predicting $418 million in statewide economic impact, including $114 million … 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":[34,27,14,26,22,188,93,111,25,31,20],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/14646"}],"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=14646"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/14646\/revisions"}],"predecessor-version":[{"id":14648,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/14646\/revisions\/14648"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=14646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=14646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=14646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}