{"id":20903,"date":"2018-01-09T10:58:15","date_gmt":"2018-01-09T18:58:15","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=20903"},"modified":"2018-01-09T10:58:15","modified_gmt":"2018-01-09T18:58:15","slug":"beauregard-the-buzzkill-arkansas-tries-for-casinos","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/beauregard-the-buzzkill-arkansas-tries-for-casinos\/","title":{"rendered":"Beauregard the Buzzkill; Arkansas tries for casinos"},"content":{"rendered":"

Attorney General Jefferson Beauregard Sessions<\/strong> has detected that Americans are enjoying themselves and it’s got to stop, forthwith. He’s declared war<\/a> on marijuana-friendly laws across this great land, misguidedly making loco weed his department’s top \"\"law-enforcement priority. Beauregard is flying in the face of a majority of Americans who approve of medicinal marijuana and at least a plurality who have legalized recreational use. Sen. Cory Gardner<\/strong> (R), at least, is sticking up for his Colorado<\/strong> constituents, pushing back fiercely against Beauregard’s crusade. Nevadans have yet to see similar profiles in courage from Sens. Dean Heller<\/strong> (R) and Catherine Cortez Masto<\/strong> (D).\u00a0In the meantime, the Nevada Gaming Control Board<\/strong> looks downright prescient in decreeing, in no uncertain terms, that casino owners steer a broad course away from the Mary Jane business.<\/p>\n

Reports the New York Times<\/em>, “The full impact of the Sessions memo isn\u2019t immediately clear. Federal prosecutors are overstretched, and only bring a small number of marijuana prosecutions as it is. But the memo has already created legal uncertainty in states that have partly or fully legalized marijuana, leaving users, growers and sellers to wonder whether their actions will be ignored or will land them behind bars.” There’s also a strong economic rationale for the status quo<\/em>, which is on course to be a $9 billion industry by year’s end.<\/p>\n

Even despite compliance with the NGCB’s directive, Nevada casinos could still find themselves in Beauregard’s crosshairs<\/a>, reports Jane Ann Morrison<\/strong>. They will find themselves having to vet their customers and if the latter are in the marijuana biz then they’re on the outs as customers. Why? If you gamble with weed-derived lucre, that will be construed as money laundering. Woe betide the casino that runs afoul of this. Even racketeering charges are not out of the question. As attorney Brett Barnes<\/strong> asked,\u00a0\u201cAt what point do [casinos] become a co-conspirator?\u201d<\/p>\n

Morrison enquires, “Will the committee be likely to approve allowing conventions in casinos where pot businesses are discussed but pot is not sold?” The answer, probably not. We think Beauregard should take a long pull on a doobie and chill out but, until that happens, casinos would do well to exercise a superabundance of caution.<\/p>\n

* “Driving Arkansas Forward<\/strong>” sounds like a road-building campaign and, to an extent, it is. However, it also proposes to pay for those road improvements with the proceeds derived from legalizing three casinos<\/a>. The proposal enjoys bipartisan sponsorship. “The amendment would authorize the division to issue the first license to an applicant to place a casino in Jefferson County<\/strong>; a subsequent license for a casino in Crittenden County<\/strong>; \"\"and a third license in a remaining county,” reports an Arkansas<\/strong> paper. The state lottery would oversee the gambling houses and $100 million must be invested in each casino. Backers of the proposal project $59 million a year in proceeds for the state, although such projections historically tend to be overstated. With two racinos already operating in Arkansas, three casinos doesn’t seem like such a stretch.<\/p>\n

Already the Quapaw Tribe<\/strong> is vying for a non-tribal casino in Jefferson County. It would be taxed a 12%, with two-thirds of the levy going to the Department of Transportation<\/strong>. Predictably, Family Council<\/strong> President Jerry Cox<\/strong> went into a huff, saying, “if Arkansas becomes dependent on gambling revenue to maintain our highways, the state will have to encourage more and more of this type of predatory gambling from now on …\u00a0If this measure passes, Arkansans will be driving on roads paved with money that some poor person lost at the casino.” (Give Cox credit: He has a gift for rhetoric, however alarmist.) We hope that Driving Arkansas Forward makes the 2018 ballot.<\/p>\n

* Ohio<\/strong> casinos and racinos continue to prosper. In a strong November, the Buckeye State grossed $149.5 million, a 7% improvement. Hard Rock Rocksino<\/strong> eked out a decimal-\"\"point lead over Hollywood Columbus<\/strong>, for 5% growth and a $19 million gross. Hollywood Columbus<\/strong> was up only 1%, which makes its close rivalry with the regular state leader all the more impressive. Hollywood Toledo<\/strong> was up 9.5% for a $16.5 million gross. Jack Thistledown<\/strong> was flat, grossing $9.5 million, while Jack Cleveland<\/strong> took in $17.5 million (up 6%) and Jack Cincinnati<\/strong> was 7% higher, grossing $17.5 million,<\/p>\n

Eldorado Resorts<\/strong>‘ Scioto Downs<\/strong> rose 12.5% to $13 million while Pinnacle Entertainment<\/strong>‘s Belterra Park<\/strong> rose 9% to $7 million. (Prospective owner Boyd Gaming<\/strong> has to like the fact that the racino has been tracking upward from month to month.) Miami Valley Gaming<\/strong> pocketed $12.5 million for a 5% increase, while Penn National Gaming<\/strong> saw a 14% jump at Hollywood Dayton<\/strong> ($9 million) and a 16% pole vault at Hollywood Mahoning Valley<\/strong> ($9 million). The Thistledown results are the closest thing the market had to a blemish — but who wants to go to the track in December?<\/p>\n

* Ever wonder why American casino concessionaires in Macao<\/strong> don’t grow market share by obtaining existing casinos? Take China Star<\/strong>‘s divestiture of Lan Kwai Fong<\/strong> casino-hotel. Sure, it comes with a casino … one already run<\/a> by Sociedade de Jogos de Macau<\/strong>, a contractual relationship that will survive the sale. With SJM and Melco Resorts & Entertainment<\/strong> having sown up most of the extant casinos in Macao, it’s a build-from-scratch proposition for the Yanks.<\/p>\n

* Sports Illustrated<\/em> dubs the Las Vegas Golden Knights<\/strong> “the hottest team in hocke<\/a>y” and puts them atop its power ranking. Who’d have thought prosperity would come so soon? Good on team owner Bill Foley<\/strong>. The Knights are right up there with pot as Las Vegas<\/strong>‘ leading growth industry.<\/p>\n","protected":false},"excerpt":{"rendered":"

Attorney General Jefferson Beauregard Sessions has detected that Americans are enjoying themselves and it’s got to stop, forthwith. He’s declared war on marijuana-friendly laws across this great land, misguidedly making loco weed his department’s top law-enforcement priority. Beauregard is flying … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":14521,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[179,60,27,154,199,26,165,189,62,224,222,207,71,69,30,90,25,213,74,9,20],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20903"}],"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=20903"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20903\/revisions"}],"predecessor-version":[{"id":20906,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20903\/revisions\/20906"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media\/14521"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=20903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=20903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=20903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}