Atlantic City casinos are still awaiting approval for the tax break legislation package from New Jersey Governor Chris Christie, and state further delays could damage the currently struggling town.
Atlantic City casinos are pressuring Governor Chris Christie to step off the campaign that is political for a minute and hike back again to Trenton to sign a package of rescue bills. The measures were approved by both the Assembly and State Senate in June, and also have been since sitting on their desk for final approval ever since.
The Casino Association of New Jersey (CANJ) says the bills, particularly the Payment In Lieu Of Taxes (PILOT) system, is critical for the populous city as a whole.
‘As the clock continues to tick while we wait for Governor Christie to signal the Atlantic City Revitalization legislation, the price of inaction continues to cultivate and the fate of Atlantic City therefore the region hang within the balance,’ CANJ stated in its press release.
Christie’s Cold Feet
Atlantic City can still claim the streets of the famous Parker Brothers board game, but its monopoly in the gambling industry has very long disappeared. Once considered the East Coast mecca that is gambling however now in varying states of disrepair and financial anguish, the resort gaming town thought it had Christie’s support for the recovery measure back March when state lawmakers had been debating the problem.
‘The governor looks forward to … the legislation proposed by the Senate President to create genuine, resilient stability that is fiscal Atlantic City,’ Kevin Roberts, Christie’s spokesman, said in March. ‘The governor urges the legislature to put just such legislation on their desk for signature.’
The bills the legislature agreed upon is a five-part package that is focused around the PILOT program, allowing the eight remaining casinos to avoid fluctuating taxation rates and only a payment system that is stabilized. The other four mandates would produce a state education fund for the city, guarantee health insurance coverage, and retirement advantages for casino employees, divert monies to redevelopment projects, and eradicate the Atlantic City Alliance and reinvest its $30 million budget that is annual.
‘Every day that the proposed legislation is not used reduces the total amount of revenue that the city may receive underneath the capital and jeopardizes the stability desired to be achieved by the legislation package, threatening Atlantic that is non-casino City and residents and taxpayers over the county,’ CANJ stated.
Much like the federal government’s bailout of the usa subprime home loan crisis in 2008, the bills aren’t popular among all parties in nj-new jersey, and letting the casinos off the hook because of their income tax responsibilities is truly regarded as a bailout.
But CANJ claims without these measures, more venues will battle to pay on their now over-assessed properties.
CANJ also states that Christie’s holdup shall cost Atlantic City $50 million as taxes from casinos get to Trenton in the place of being reinvested locally. ‘ That means the city would need to replace that revenue by other sources, presumably the property taxpayers of Atlantic City,’ CANJ claimed.
It seems the governor is backtracking from the offer, as offering casinos a free stack of chips could come back to haunt him regarding the 2016 campaign trail that is presidential. The two-term Republican state frontrunner is trying to create his instance for the presidential solution and appeal to more conservative voters, but that would be difficult considering their approval rating into the Garden State is at 37 percent. Nationwide, latest polls show him with the backing of a dismal three percent of likely GOP voters.
That puts Christie well behind another individual whom abandoned Atlantic City awhile back: Republican front-runner Donald Trump.
Sands Bethlehem to Add Stadium Seating for Gambling
The Sands Bethlehem is adding a gambling that is stadium-seated in an attempt to attract millennials who are not thinking about traditional slots. (Image: Rick Smith/Associated Press)
Casinos across the country all seem to have one question on their head: how do they get millennials into their doors and money that is spending?
One casino in Pennsylvania is trying something new in this ongoing quest, adding stadium seating to games like blackjack so that they can attract younger bettors to their tables.
The Sands Bethlehem has announced that they can create a stadium that is 150-seat area in their casino, offering a type of hybrid gaming that will pair electronic machine with live dealers.
Such games are seen before in Asian areas like Macau, but are rare within the United States.
‘We’ve determined to get real aggressive and go right to 150,’ Sands Bethlehem CEO Mark Juliano told the Pennsylvania Gaming Control Board. ‘As the globe moves toward electronics, electronic and everything that is automated we’re attempting to keep rate with that.’
Stadium Seating Features Live Dealers, Video Terminals
The Las vegas, nevada Sands Corp. already offers arena seating for gamblers in a few of the Asian properties. But this will be the first time they offer such a system in America, and are going to be the largest such ‘stadium’ in the us.
The games will be run by a myfreepokies.com live dealer, with players playing out their individual hands on an electronic terminal where they can view the action unfold via live video.
In that way, players can nevertheless feel just like they are playing independently without losing the atmosphere that comes with a dealer that is live.
In addition, the format will allow for players to try out for lower-stakes than at standard table games, as they will provide a $5 minimum. The games additionally play out at a quicker speed, as all bets and winnings are handled electronically.
‘I think it’s really a prospect that is great’ stated Gaming Control Board member Keith McCall. ‘ So many people want to sit at a $5 blackjack table, but can’t.’
As soon as sitting at one of the terminals, players will be able to pick from blackjack, baccarat, roulette and bo that is sic the same machine, meaning the whole stadium won’t have to play one game.
The Sands is utilising the stadium seating to replace a juice bar, an underperforming asset that it self was likely intended to appeal to younger visitors.
Millennials Increasingly Targeted by Gambling Enterprises
This is barely the first attempt by a casino to get some innovative method of attracting millennials. In fact, it has been one of the hottest topics among casino operators, as younger generations demonstrate small fascination with playing the slot machines that drive revenues among older gamblers.
‘You have as much chance getting a millennial into slot machines as you do getting the grandmother into playing ‘Halo,” Gamblit Gaming Chief Marketing Officer David Chang told the Washington Post earlier in the day this year. ‘Slots today are designed entertainment experiences, however for a totally different demographic, and that is people who was raised with slot machines.’
One idea that has been floated happens to be introducing more skill elements into traditionally gambling that is luck-based such as slots.
Others include including more social media elements to gaming, and greater usage of touchscreens as well as other high-tech electronics.
It’s not just casinos that are finding it hard to either attract millennials. State lotteries have additionally been finding younger generations less interested in their products or services, and are searching for how to change that indifference.
‘The future of state lotteries will depend on finding a whole new generation hooked,’ stated Les Bernal, national manager of Stop Predatory Gambling. ‘You do that through getting lottery games on the Internet and permitting people use credit cards.’
Australia Takes on Interactive Gambling Act, Saying Online Laws Need Clarification
Australia’s Prime Minister Tony Abbott’s government will have a look at just how to upgrade the nation’s aging gambling that is online. (Image: The Daily Telegraph)
Australia’s online gambling market happens to be governed for the past 14 years by the Interactive Gambling Act, an item of legislation passed in 2001.
It’s law that has left much concerning the status of Internet gaming in the united states confusing, and another that has felt increasingly outdated in recent years, a situation which includes finally led to demands overview of regulations.
According to reports from Australian news, Social Services Minister Scott Morrison will lead a governmental report on the Interactive Gaming Act, likely with an eye to tighten regulations in the online gambling industry.
That would be in line having a pledge by Prime Minister Tony Abbott, who promised before his election to crack straight down on Internet wagering.
Review to Examine All Areas of On The Web Gaming Legislation
The re-examination is expected to look at a variety of areas of the gambling industry, from exactly how offshore sites operating illegally in the country impact the industry economically to exactly how regulation can be improved and exactly what must be done about gambling advertisements on television.
On that last issue, there is some speculation that the Abbott government might think about an outright ban on those spots during sporting events. Such a move would be strongly opposed by networks that cover sports, of course, such as rugby and Australian rules soccer, which rely greatly on such advertising, also the bookmakers themselves.
However, Morrison has stated so it is far too early to take a position on what the review may find, or what recommendations will be made because of this.
‘People are reacting to something that hasn’t even been announced,’ Morrison told The Australian. ‘The government has no preconceived ideas in this area. We undertook to appear at it, and we shall participate in good faith.’
The independent senator from South Australia among those applauding the decision to undertake the review is Nick Xenophon. Xenophon has currently started to draft prospective amendments to the Interactive Gambling Act that would ban in-play betting, among other changes.
‘This review gives us an opportunity to take stock of this explosion of online gambling, including illegal overseas gambling, and the pernicious impact that online betting has received on sporting culture,’ Xenophon said.
In-Play Betting Regulations Controversial
The problem of in-play betting is one of the prime types of how the aging online gambling guidelines of Australia need to be updated to clarify what’s permitted in the nation. Currently, in-play bets (those made throughout a game in progress) are permitted, but can just be placed by telephone, not online.
However, companies such as William Hill have tried to get around this in present months simply by using a ‘click to call’ system. Their argument is that so long as a call is in progress and a microphone is on while a bet is being confirmed, the phone requirements are met, allowing players to make in-play bets from their smartphones or computers.
The Australian Wagering Council has agreed that laws regarding in-play betting should be modernized. But instead of a ban, they state, there should be no difference between phone and Internet wagering.
‘The IGA is amended to clarify that in-play wagering on sporting events will continue to be permitted, and for a platform-neutral basis, but restricted to the circumstances in which bet kinds are authorized by the appropriate state/territory regulator and the relevant national activities managing body,’ said a spokesperson for the council.
For several operators, nevertheless, the biggest problem that must be addressed could be the ability of unregulated, offshore websites to operate in Australia.
‘The rise of unlicensed betting that is offshore Australian race and sport has to be addressed,’ Tabcorp said in a statement. ‘ Unlicensed offshore operators are maybe not regulated to Australian standards and that poses dangers to consumers and also the integrity of sport and racing.’