Massachusetts Mayors Blast Anti-Casino Study as Bogus

Massachusetts Mayors Blast Anti-Casino Study as Bogus

Everett Mayor Carlo DeMaria was among a group of Massachusetts mayors and town leaders whom rejected the claims in an anti-casino study that is recent.

Some Massachusetts mayors and city executives in the state have blasted a casino study that claims new resorts would hurt lottery profits for metropolitan areas and towns here. Anti-casino advocates are using the study to suggest that the financial advantages of adding gambling enterprises in Massachusetts have been overstated, and that voters should repeal the casino law into the November ballot that is upcoming referendum.

Based on the research, that was released by Repeal the Casino Deal, local lottery profits could stop by as much as 22 % if the new casinos are allowed to be built. Overall, the study estimates that as much as $103 million could be lost as consumers who utilized to relax and play the lottery turn instead to casinos.

Mayors, Town Officials Reject Study

But a group led by Everett Mayor Carlo DeMaria, Springfield Mayor Domenic Sarno and Plainville Town Administrator Joseph Fernandes (all of whom lead towns and metropolitan areas where casinos and slot parlors have now been approved) is rejecting these figures, saying that other analysts came up with entirely results that are different. Based on the leaders that are municipal any lottery losses is short-term, and would become more than offset by the new revenues brought in by the casinos.

‘These claims Continue reading “Massachusetts Mayors Blast Anti-Casino Study as Bogus”

South Korea Mohegan Sun Mega Casino Bid Would Land Near Incheon Airport in Seoul

South Korea Mohegan Sun Mega Casino Bid Would Land Near Incheon Airport in Seoul

Incheon Airport, in the South capital that is korean of, could one day host Mohegan Sun’s planned casino resort. The air travel hub draws numerous millions of key Asian visitors each 12 months.

Mohegan Sun might have lost the battle for the Massachusetts casino, but that hasn’t stopped the business from bidding for a wildly ambitious $l.6 billion new project in South Korea.

The tribal gaming operator is proposing to create the country’s largest gambling resort at one of many world’s travel hubs that are busiest, Incheon International Airport, near the country’s capital city of Seoul.

The casino would function as centerpiece of an also larger development that would incorporate a twin-tower luxury hotel with 1,000 spaces, a 20,000-seat arena, an entertainment park, and nearly 200,000 square feet of shopping, food, and entertainment space. The casino it self would house 50 blackjack and roulette tables, and 1,500 slot machines.

‘It’s going to be a spectacular, multifaceted destination casino resort,’ Mitchell Etess, chief professional of the Mohegan Tribal Gaming Authority, told the Boston Globe. ‘High-rollers can get on a personal jet, land, and check right into the hotel. It’d be perfect for James Bond.’

(We wonder if Bond is nevertheless playing poker hands such as usually the one that won him €115 million in the infamous Casino Royale scene where he beat out a dining table of flushe Continue reading “South Korea Mohegan Sun Mega Casino Bid Would Land Near Incheon Airport in Seoul”

Wynn Resorts Dividends Slashed Following Macau Slump

Wynn Resorts Dividends Slashed Following Macau Slump

Wynn Resorts share dividends took a nosedive this week because of results that are poor Macau gambling.

Wynn Resorts Ltd is moving on the pain of the sharp drop in Macau gambling to its shareholders by cutting dividends by 67 percent, Bloomberg reports.

The gambling chain, which owns and runs the Wynn Macau casino resort, posted its profits for the first quarter of 2015 this week, and also the news isn’t pretty if you’re an investor.

Income was hovering just under $1.1 billion, a lower figure than industry quotes of $1.12 billion.

Being a result, dividends from shares spiraled downwards to 50 cents per share. That’s a third of the $1.50 paid in February.

Wynn Resorts Ltd also posted a $17.1 billion table games turnover in the VIP sector, a drop of over 52 per cent set alongside the same quarter last year. Table games return in the mass market sector was also down, by 7% to $279.6 million.

After the dividends results were announced, Wynn shares dropped 9 percent to close at $130.48.

Macau Clampdowns Affecting Everyone

The continuing crackdown on corruption in China is having a huge impact in the Macau economy. Chinese President Xi Jinping has been on a crusade the year that is past so to avoid thousands of public officials removing towards the Macau peninsula with public funds.

The amount of cash allowed to be brought from the mainland to Macau, China’s sole arbiter of legalized gambling, in addition has fallen, plus Xi Continue reading “Wynn Resorts Dividends Slashed Following Macau Slump”

FanDuel Signs Partnerships with 15 NFL Teams

FanDuel Signs Partnerships with 15 NFL Teams

The Packers are among the many NFL teams to sign partnership agreements with FanDuel.

FanDuel and DraftKings seem to be locked into a battle over which daily fantasy sports site can find larger and better partners for his or her brand.

This week, it was FanDuel making waves, once the larger of the two major daily fantasy brands scored a partnership with around half of the franchises in the National Football League, ensuring which they’ll have branding in many stadiums for the season that is coming.

The new deal will allow FanDuel to have signage in stadiums, utilize radio and electronic advertising, and work on promotions with the specific teams.

However, the deal isn’t without conditions, plus it’s clear that the NFL is nevertheless being slightly cautious whenever it comes down to allowing the fantasy that is daily industry become part of their league.

FanDuel is Not Official Sponsor for Teams or League

Beneath the agreement that is current NFL team logos nevertheless may not be used by FanDuel, either in advertising or on their site. FanDuel also will not be considered an ‘official’ sponsor of either the NFL or any individual group.

They are similar to the limitations that are placed on handles casinos and other gambling venues whenever they reach advertising agreements with NFL teams.

‘A team sponsor is a company that will use the team logo or say, ‘We are the official (company) associated with group,” NFL spokesman Brian Continue reading “FanDuel Signs Partnerships with 15 NFL Teams”