{"id":18492,"date":"2016-07-08T12:24:54","date_gmt":"2016-07-08T20:24:54","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=18492"},"modified":"2016-07-08T12:26:19","modified_gmt":"2016-07-08T20:26:19","slug":"shifty-speculation-in-massachusetts-hoosiers-spend-more","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/shifty-speculation-in-massachusetts-hoosiers-spend-more\/","title":{"rendered":"Shifty speculation in Massachusetts; Hoosiers spend more"},"content":{"rendered":"

Two Boston<\/strong>-area mayors are digging in against a slot parlor proposed for Revere<\/strong>. New Revere Mayor Brian Arrigo<\/strong> and Somerville<\/strong> Mayor Joseph Curtatone<\/strong>\u00a0(below<\/em>) have both \"Curtatone\"voiced opposition to the project, which would be near Suffolk Downs<\/strong> (the ballot question is worded in such a way that no other site in the state would be eligible). Wannabe casino owner Eugene McCain<\/strong> has spent at least $6.5 million snapping up land near the racetrack.\u00a0\u201cI am making offers on many properties, but this is not something I can presently address as these are private discussions and contingent transactions,\u201d McCain told the Boston Globe<\/em> from his hideout in Thailand<\/strong>. McCain has good reason to keep a low profile, since his colleagues include a convicted felon<\/a> — something you think would get his project nixed by the Massachusetts Gaming Commission<\/strong> outright.<\/p>\n

McCain claims to have an (unnamed) gaming operator lined up and a hotel deal with Accor-Novotel<\/strong>. His stated aim is “to preserve the proud New England<\/strong> tradition of horse racing.\u201d MGC Chairman Stephen Crosby<\/strong> is not convinced, saying,\u00a0\u201cTo change in any fundamental way the basic competitive environment that our licensees, the casino operators, have bought into during their license period, would not be fair. It would be prejudicial.\u201d<\/p>\n

More ominous still, McCain has been seen in the company of slippery casino speculator Shawn Scott<\/strong> — a five-time loser where gaming licenses are concerned<\/a> — and his sidekick, convicted thief Hoolae Paoa<\/strong>. McCain basically says it’s all a big coincidence, although one property seller told the Globe<\/em> their check was signed by a Scott associate. Another seller thinks a big flip is in the wings:\u00a0\u201cThere\u2019s a lot of money involved. My feeling is they\u2019re lining up the property and putting a package together. They will take their chunk of change and leave.\u201d The negotiations have certainly been colorful.\u00a0\u201cHe was wearing skin-tight jeans and was playing with his gold chain,\u201d Route 1A<\/strong> body shop owner John Ford<\/strong> said of a McCain sidekick.\u00a0\u201cWe were at the last table at the end of the [Starbucks<\/strong>]\u00a0and they moved the chairs to set up a barrier. The whole thing was bizarre.\u201d<\/p>\n

\"wynn_night-full\"Curtatone says the slot parlor is doomed once Wynn Boston Harbor<\/strong>\u00a0opens,\u00a0\u201cHow would the economy absorb this? …\u00a0we are setting ourselves up for failure if this passes.\u201d That’s somewhat disingenuous, considering that Curtatone is trying to kill Wynn Boston Harbor at the same time. Suffolk Downs<\/strong> is maintaining neutrality while Penn National Gaming<\/strong> is claiming impartiality with a strong undertone of opposition. Said spokesman Eric Schippers<\/strong>,\u00a0\u201cWhile we haven\u2019t decided whether we\u2019ll engage in the fight over this ballot question, we think the more Massachusetts<\/strong> voters learn about this effort and who\u2019s behind it, the more the opposition will grow.\u201d<\/p>\n

Not only would an election victory run a cart and horses through Massachusetts’ statutory limit of three casinos and one slot parlor, it would threaten to legitimize Scott and Paoa … good enough reason to vote against it.<\/p>\n

* Wall Street<\/strong> analysts and gaming companies have been telling us that June would provide a more reliable barometer for the regional casino industry than did May. In Indiana<\/strong>, customers are going a lot less (-9%) and spending a good deal more (+7%). The state was 3% down for the month, led by Horseshoe Hammond<\/strong>, which weathered an \"Horseshoe-Southern-Indiana-288x172\"11% decline for a $29 million gross. Bringing up a distant third\u00a0was another Caesars Entertainment<\/strong> property, Horseshoe Southern Indiana<\/strong>, grossing $19 million for a 4% decline. Sandwiched in between them was Indiana Downs<\/strong>, gaining 5.5% for $21 million. Hollywood Lawrenceburg<\/strong>, once a real powerhouse, did manage a 7% gain ($14 million). Pinnacle Entertainment<\/strong> had a droopy month, with Ameristar East Chicago<\/strong>\u00a0and Belterra<\/strong> each off 9%, grossing $16 million and $9 million, respectively.<\/p>\n

Full House Resorts<\/strong>‘ Rising Sun<\/strong> was flat (a measly $4 million), as was Boyd Gaming<\/strong>‘s Blue Chip<\/strong> ($12.5 million), while the two Majestic Star<\/strong> boats went in opposite ways, the first up 2% (7.5% million), the second — a former Donald Trump<\/strong> vessel — down 3% ($5 million). French Lick Resort<\/strong> had a good month, up 13%, to $7 million. Hoosier Park<\/strong> didn’t, down 8% and grossing $16 million. Finally, plucky Tropicana Evansville<\/strong> posted its usual good numbers, grossing $10 million for a 6% gain.<\/p>\n

* Rivers Casino<\/strong> is fed up with Pittsburgh<\/strong>‘s municipal gaming tax and wants its money back<\/a>. According to the Pittsburgh Tribune<\/em>, Neil Bluhm<\/strong>‘s casino maintains the tax “is unconstitutional because it applies different tax rates to casinos and doesn’t tax all casinos \"Riversequally in terms of revenue from slot machines that goes to municipalities.” Luckily for Rivers — and all other Pennsylvania<\/strong> casinos — it has never exceeded the $500 million annual revenue threshold that would require it to turn over 2% of all slot revenue. (The high-water mark was Parx Casino<\/strong>‘s $388 million in fiscal 2011-12.) If the $500 million mark is not breached, Bluhm’s SugarHouse Casino<\/strong> in Philadelphia<\/strong> is obligated to pony up 4%. It is discrepancies like this that prompted Rivers to argue that the levy is unconstitutional. The casino joins Harrah’s Philadelphia<\/strong> and Mt. Airy Casino Resort<\/strong> in taking the issue to court. Vowing to fight Bluhm “vigorously, Pittsburgh Mayor Bill Peduto<\/strong> said, \u201cRivers Casino knew about this funding commitment prior to applying for their license, and knew this funding was due to the city for hosting them.\u201d Our view? Go Steelers!<\/p>\n","protected":false},"excerpt":{"rendered":"

Two Boston-area mayors are digging in against a slot parlor proposed for Revere. New Revere Mayor Brian Arrigo and Somerville Mayor Joseph Curtatone\u00a0(below) have both voiced opposition to the project, which would be near Suffolk Downs (the ballot question is … 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":[60,198,7,67,189,191,112,91,69,95,30,111,25,32,31,21],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/18492"}],"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=18492"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/18492\/revisions"}],"predecessor-version":[{"id":18494,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/18492\/revisions\/18494"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=18492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=18492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=18492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}