Genting Gambles in Florida with Uncertain Results

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Genting Gambles in Florida with Uncertain Results

A rendering of just one portion of the proposed Resorts World Miami Genting casino resort project; the $3 billion project nevertheless hasn’t received a high sign from Florida lawmakers.

They state cash talks, but in Genting Resorts World’s case, it’s perhaps not been speaking as loudly as the ongoing company might like.

The asian gambling conglomerate has largely met with nothing but resistance despite pouring $236 million into a 14-acre waterfront Miami spread back in 2011 and then sprinkling millions more into pressuring state politicians to ‘adapt’ a construction law to accommodate a new $3 billion resorts World Miami casino project. Therefore they’ve now determined for a new, less direction that is cumbersome the Sunshine State: a slots-only project that would pair them up with Gulfstream Park racetrack in Miami’s Key Biscayne area.

Antagonists Await

Of course, anytime a potential casino that is new appears in a state, the very first thing that happens is some sort of anti-gaming coalition forms; and Florida has been no exclusion compared to that rule. Anti-casino group is also releasing a movie mid-January called Pushing Luck that claims to show a ‘sobering glimpse’ of ‘broken promises’ from casino operators.
According to Genting’s new partner Gulfstream, the racetrack holds an as-yet-unused video gaming license that has the potential for use in either Miami-Dade or Broward counties, as the track rests simply between the 2 areas. Gulfstream also brought house this aspect last summer time with a three-horse occasion that took place on their property, which takes place to just review the Broward county line into Miami-Dade.
But the event may have backfired, as Florida video gaming commissioners later filed a complaint from the race track for said event, so the certification issue remains unclear, and unsupported by the powers that could require to accept it. The proposed Genting project would also break precedent, as so far, only Native American tribes happen in a position to offer slots without a real racetrack on the property.
With horse racing still an important factor of Florida’s economy, the brand new pairing created a creative offering to tempt both lawmakers and regulators to bless their new union; Genting and Gulfstream state they would share some of their profits with Florida’s breeders, trainers and owners, an offer that sits mighty well utilizing the Florida Thoroughbred Horsemen’s Association. FTHA CEO Lonny Powell has even gone therefore far as to say it makes it a ‘game-changing’ deal, saying ‘this is the partnership that is first the revenue stream and investment would actually get back in to the horses.’

Two-Hour Tours

Up until now, Genting happens to be providing only ‘cruises to nowhere’ in actuality, thrice-daily sailings between Miami and the business’s Resorts World Bimini casino in the nearby Bahamas, which conveniently rests only 50 miles off the Sunshine State’s coastline. During the two-hour trips, fast-acting gamblers could play any games they wanted to on board, and that included recreations betting; in exchange for that business opportunity, Genting is to cough up $11 million to go towards fixing up Miami’s ports, plus a yearly $7 million rental fee that will extend for at least the next decade.
A wrench was thrown into the day and evening cruise excursions late last year, nonetheless, whenever the U.S. Customs and Border Protection told Genting they were only to use U.S.-based workers on the trips. a battle that is legal; but Genting ultimately had to concede, as maritime laws and regulations that would affect other Miami-based cruise companies apparently don’t apply as soon as the ship does maybe not actually dock in a foreign port and does not need passenger passports, either.
With that choice, Genting scale back on its cruise operations away from Miami, saying they can not pay for to make a crew that is all-american.
And that’s not most of the issues that have actually plagued the day-trippers either; pier issues in Bimini have actually meant Genting has to anchor off-shore and then ferry small groups back and forth, a real possibility that not only consumes up time and manpower, but has proved to be unpleasant for passengers in inclement weather.
Despite all these obstacles and projected losses of $11 million for 2014 Genting is evidently not planning on leaving the cruise business day. And clearly, regardless of how stormy the seas, they plan to remain the course in Florida, some way.

Maine Gambling Enterprises Oppose Expanded Gambling in State

Most people think about Maine like this, but a small casino contingent is attempting to hold their own there because well. (Image: Katarina Neef/

We may not agree we know there are plenty of reasons that people may oppose more gambling in their state, from moral objections to worries about problem gambling with them, but. But in Maine, gambling is finding an opponent that is unusual the casinos themselves.

Read Our Lips: No New Casinos

Officials from the 2 Maine casinos presently in operation talked to lawmakers this week and said they shouldn’t approve any expansion of the casino industry in the state. In cases like this, it would appear that the casinos believe that industry in the state is wholly saturated already while others believe they’re simply afraid of a little competition.

The two properties under consideration the Hollywood and Oxford Casinos faced off as you’re watching Joint Standing Committee on Veterans and Legal Affairs against members of two indigenous American tribes in the state, as well as the owner of the Scarborough Downs race track, over a number of bills that would serve to grow Maine’s gambling options.

The most controversial of these is recognized as LD 1111. It would enable Scarborough Downs to become a ‘racino,’ operating slot machines along with their horse that is current racing. That issue was already brought to referendum in 2011, whenever it received only 45 % of the vote statewide.

Factional Battles

According to track owner Sharon Terry, Scarborough Downs is struggling because of the competition it faces from the casinos within the state particularly Oxford Casino, which is simply 45 minutes away and opened in June 2012. And while Hollywood Casino may be further away, it features a friend racino, letting it offer everything Scarborough Downs can and more.

Terry says that revenues fell 21.8 per cent at her track since slots were allowed during the Bangor battle track, and that the specific situation is getting worse since the opening of the Oxford Casino. The cut in revenue not only threatens the track, but also Maine’s entire horse racing industry since Scarborough Downs is responsible for 101 days of racing each year.

‘The Downs cannot survive under the current laws,’ Terry said.

But, the general supervisors of both gambling enterprises as well as several companies into the Oxford area disagreed, opposing slots that are allowing the Scarborough Downs facility. In general, the casinos feel that any new gambling in their state threatens to ‘cannibalize the industry,’ as Maine is a relatively small state without enough gamblers to support more venues.

That helps explain why they also opposed three other bills being considered by hawaii. Those incorporate a bill that would allow charities to run up to five slots at their headquarters so that you can raise funds, along with two bills that would allow Indian tribes to expand their gambling operations: the one that would let the Houlton Band of Maliseets to operate slots and table games, and another that could let the Passamaquoddy Tribe apply to run table games and slots at a bingo facility that is existing.

‘Should further facilities available or expand, we would see erosion that is further of client base,’ said John Osborne, general manager of the Hollywood Casino.

Big Banks Refuse to Process Legal Online Gambling Transactions

Major credit card issuers like Chase, Wells Fargo and American Express won’t process online that is even legal gambling, they say. (Image: Jason Hindley/

Every thing seemed therefore hunky dory: Nevada, Delaware and brand New Jersey all got legal online gambling or at poker that is least, in Nevada’s situation up and running in 2013, and aside from a few dilemmas with geo-location snafus, overall, the internet sites in all three states have actually been operating pretty smoothly. Except for just one bug that is fairly major has nothing to do with the sites by themselves: major economic institutions like United states Express, Wells Fargo and J.P. Morgan Chase are refusing to process any cash interactions on these web sites, legal or not.

Your Transaction Was Denied

Whether credit or debit, several heavy-hitter card providers say they are not gambling regarding honoring their cards on Internet gaming web sites. And clearly, that’s not sitting well with many players whom say, what gives? But the banks involved say they will not budge, not for online casinos, poker or even legal recreations betting in Nevada.

‘We do not allow credit card transactions for this activity,’ said Steve O’Halloran, manager of advertising and affairs that are public Chase Card and Merchant Services. And American Express spokeswoman Sanette Chao concurs, saying her company simply ‘prohibits the use of the card for gambling services.’

While some may conclude that this will be some kind of moral imperative, it works out that it’s more of a bottom-line that is simple decision than anything else.

‘Gambling services, historically, account for a large number of card member credit losses and customer service disputes,’ noted Chao.

UIGEA Still Directs Banks’ Positions

And some banks do still hold onto the old UIGEA model (illegal online Gambling Enforcement Act of 2006), because, in the end, from a federal standpoint, it is still murky just how it is become interpreted after having a 2012 reinterpretation of the initial 1961 Wire Act was handed down from the Supreme Court that opened the entranceway to at state-by-state that is least lawful online gambling.

Wells Fargo spokeswoman Natalie Brown claims that is the reasoning behind her company’s decision to decline gambling deposits.

‘In compliance with regulation GG (illegal Internet Gambling Enforcement Act of 2006), we prohibit the employment of consumer credit cards for online gambling,’ said Brown, whom is vice president of customer financing communications with Wells Fargo. ‘The networks (Visa, MasterCard and Express that is american the merchant category codes and block fees that don’t conform to federal laws.’

While this may earn some sense from their views, it can prove a frustrating truth for online players in appropriate gambling states.

‘What the industry has done is take a conservative approach or response to the legalization of online gambling,’ said Tobin Prior, CEO of Ultimate Gaming, which is really a subsidiary of Station Casinos, a land-gaming proprietor in Nevada and the first to go online with legal poker into the Silver State. ‘That can be frustrating, but we work with clients to get options.’

One of the benefits of this brick-and-mortar/Internet symbiosis is that customers can both fund and cash out at any of these land video gaming properties, in either Southern Nevada or at Station’s land video gaming partner the Taj Mahal in Atlantic City. Players can also use e-checks or cable transfers to make deposits, Prior noted.

While legal websites on the internet might wish that banks had been more within their court right now, Caesars WSOP site’s spokesperson Seth Palansky states it’s what it really is.

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