{"id":15956,"date":"2015-04-30T11:03:41","date_gmt":"2015-04-30T19:03:41","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=15956"},"modified":"2015-04-30T11:03:41","modified_gmt":"2015-04-30T19:03:41","slug":"the-perils-of-pence-court-prods-caesars","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/the-perils-of-pence-court-prods-caesars\/","title":{"rendered":"The perils of Pence; Court prods Caesars"},"content":{"rendered":"

Indiana<\/strong>‘s casinos are now officially at the mercy of Gov. Mike Pence<\/strong> (R). The Hoosier State’s General Assembly<\/strong>\u00a0passed a compromise bill that has something for the casinos (transplanting \"Pence\"<\/a>to terra firma<\/em>) and something for Pence, namely a five-year moratorium on live dealers at the state’s two racinos. Whether that will be enough, nobody knows except Pence, whose views on the legislation have been exquisitely opaque. The mere fact that the moratorium would end a few days before Pence’s second term might be enough to make him reach for his veto pen, even though the bills passed both houses with decisive majorities<\/a>. Besides, Pence is weighing a presidential run, which requires a certain amount of pandering to the anti-gambling crowd. However, he could simply choose to let the bill become law without his signature<\/a>, sparing himself the embarrassment of a veto override. All he has to do is “forget” it for a week.<\/p>\n

Casinos get to keep their free-play deduction tax deduction and it’s been bumped up to $7 million apiece, from $5 million. The Lege also granted itself over any gaming compact that the Pokagon Band<\/strong> might negotiate with the governor, tempting the latter’s wrath. However, in anticipation of passage of the present legislation, Majestic Star<\/strong> is proceeding with plans for a hotel and Tropicana Evansville<\/strong> has purchased land for a new casino<\/a>, hopefully liberating it from the confines of its antiquated riverboat.<\/p>\n

* If Caesars Entertainment<\/strong> thought Judge Benjamin Goldgar<\/strong> would be a pushover, they were quite mistaken<\/a>. Faced with a Caesars request to extend its exclusive prerogative of restructuring the company for six months, Goldgar gave CEO Gary Loveman<\/strong> two weeks. He’s also not making things easy on his own investigator, Richard Davis<\/strong>. When Davis said his report to the court might be tarried by outside, creditor-instigated probes, Goldgar replied, “Let’s assume a free-for-all.”<\/p>\n

Davis doesn’t want creditors sitting in on his interviews with Caesars officials<\/a> because his is a fact-finding mission, not a means of laying the groundwork for a lawsuit. Goldgar split the baby by giving Davis the exclusivity he wanted — but won’t bar creditors from deposing Caesars execs independently of Davis. Considering how things have gone since Caesars got the case moved to Illinois<\/strong>, it may be wishing it had left it in Delaware<\/strong>.<\/p>\n

* To delay or not delay? That’s the question for legislative proponents of a referendum on \"Sweeney\"<\/a>casino expansion in New Jersey<\/strong>. Initially, there was great enthusiasm for putting it on the ballot this year. However, in an off-year election, voter turnout is expected to be low, so why not push it back to 2016 and ride the wave of interest generated by a presidential contest?\u00a0“So do you do it this year or next year? That’s the debate, because you want it to pass,” explained state Senate President Steve Sweeney<\/strong> (D). Losing would carry with it the consequence of waiting another two years<\/a> before being allowed to try again.<\/p>\n

In the meantime, Gov. Chris Christie<\/strong>‘s reticence has stymied a relief measure for Atlantic City<\/strong>. The bill would create a 15-year exemption from property taxes for the eight casinos at the shore in return for two years of $150 million lump-sum payments and 13 more of $120 million. Despite the governor’s failure to display support, Sweeney predicts passage before the Lege adjourns in June.<\/p>\n

* Word is that Crazy Girls<\/em><\/a> is moving from the Riviera<\/strong> to Planet Hollywood<\/strong>. Whew. America’s future is secure.<\/p>\n","protected":false},"excerpt":{"rendered":"

Indiana‘s casinos are now officially at the mercy of Gov. Mike Pence (R). The Hoosier State’s General Assembly\u00a0passed a compromise bill that has something for the casinos (transplanting to terra firma) and something for Pence, namely a five-year moratorium on … 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":[23,4,7,58,68,6,33,111,55,31,9,20,21],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/15956"}],"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=15956"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/15956\/revisions"}],"predecessor-version":[{"id":15957,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/15956\/revisions\/15957"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=15956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=15956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=15956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}