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New York Southern Tier Gets Another Look from Casino Licensing Board today

 New Y<span id="more-4300"></span>ork Southern Tier Gets Another Look from Casino Licensing Board today

Brand New York Governor Andrew Cuomo urged a state board to reconsider a Southern Tier casino, but the board’s chairman states the final decision will not be impacted by the Empire State’s leader.

The newest York Southern Tier is waiting on pins and needles for the results of a casino licensing meeting tonight with the State Gaming Facility Location Board.

Tonight’s meeting will see the Board give consideration to reopening the putting in a bid procedure for the resort in the Southern Tier.

That area of the state happens to be lobbying everybody else up through nyc Governor Andrew Cuomo in a effort to make its case that the region, situated near the Pennsylvania border, is worthy of the 4th and last license reserved for upstate New York.

Even the proven fact that the Southern Tier is still into the game is really a bit of a success for local politicians and residents. The location was partnered with the Finger Lakes as a single area in the casino putting in a bid process, and between the two, were only promised a license that is single. This one ultimately went to the Lago Resort and Casino, a Finger Lakes proposition that was larger compared to bids developing of the Southern Tier.

But individuals in the region felt that they’d been passed over in the casino procedure, when in the same time they had been denied licensing, a hydraulic fracturing (or ‘fracking) ban was placed into invest their state, which could leave the Southern Tier in dire economic straits. That resulted in appeals to the state Gaming Commission and Governor Cuomo to provide the area another chance.

New Meeting Could Open Bidding for Fourth License

That led Cuomo to attract the Gaming Facility Location Board, which in turn made a decision to hold a gathering on Tuesday night in nyc to think about reopening the bidding in the Southern Tier.

Because the board originally only recommended three casinos for upstate New York, there is still a fourth license that may potentially be awarded. While that license was originally up for grabs in all three upstate regions, however, the board will simply be considering offering it to the tier that is southern this meeting.

That does not sit well with many lawmakers as well as other observers throughout their state. Some genuinely believe that other aspects of New York should have the opportunity to bid for that 4th license if it becomes available, while other people question how much impact Governor Cuomo has in the casino process.

Hudson Valley Officials Want a Shot

At one point within the bidding process, it seemed likely that the 4th casino would become in the Catskills/Hudson Valley region, which was the absolute most lucrative area and saw the interest that is most from major casino firms. Given its proximity to New York City and the fact that regional competition could be intense there, Orange County Executive Steve Neuhaus thinks that the area should really be part of any conversation over the casino license that is final.

‘Given the distinct possibility that casino gambling in nj-new jersey could expand outside of its current Atlantic City location, including the Meadowlands, it seems sensible for brand New York jobs and revenue that the most productive regions in southern New York be included in this discussion,’ read a statement from Neuhaus.

Cuomo’s Influence Questioned

There are also issues that Cuomo, who pledged allowing the board to operate independently, has received too much influence in the licensing process.

‘Every time he says something, he does the opposite when it doesn’t turn the way out he wants it to turn out,’ said Assemblyman James Tedisco (R-Schenectady). ‘If you will say something is separate, keep it independent.’

But members of the facility location board say they are able to act separately, without any pressure from the governor’s office, and that the decision regarding the Southern Tier comes from them, not from Cuomo.

Washington State Gets its Online Poker that is own Bill

Washington State’s current poker that is online are draconian, which has prompted the push for legislative change. (Image:

A Washington State online poker bill is here unexpectedly at the opening for the state’s new session that is legislative week.

The bill to legalize and regulate poker that is online known as HB 1114, is sponsored by Representative Sherry Appleton (D), and comes as a complete shock to industry observers.

While all eyes have been regarding the ongoing legislative efforts in California, and the debate that is occasional Pennsylvania concerning the possibility of regulation, Washington’s bill ambushed us out of nowhere.

The actual fact that Washington State may be the state that is only of Union where the actual act of playing online poker is unlawful makes the news headlines even surprising.

Lawmakers managed to get A class C felony in 2006, with Section 9.46.240 associated with state’s gambling law declaring that anyone who ‘knowingly transmits or gets gambling information by phone, telegraph, radio, semaphore, the Internet, a telecommunications transmission system, or means that are similar is breaking the legislation.

This implies that, theoretically at least, playing online poker could secure you a jail sentence of up to five years and a $10,000 fine.

Even Utah, where all forms of gambling are strictly illegal, including lotteries, does perhaps not get quite this far, although we should mention that no body in Washington State has ever been prosecuted for the act of playing online poker.

Washington Web Poker Initiative

It is probably the draconian nature of Section 9.46.240 that has driven the push for legislative change in this relatively liberal state.

Certainly, the primary crux for the brand new bill is that prohibition fails, and neither does it adequately protect citizens associated with state, lots of whom continue to play on-line poker illegally in unregulated offshore markets.

This is also the message that is crusading of Woodward, of the Washington Internet Poker Initiative, whoever tireless efforts in opposing prohibition have helped make the proposed legislation a truth.

‘It did actually me that Washington State had just been written off online that is regarding, which I discovered unsettling to say the least. Someone had to step-up and raise the problem or we would be a forgotten corner that is little the Northwest,’ Woodward told PokerNews this week. ‘I had reached out to every single candidate that is legislative to your 2014 elections.

Representative Appleton is a cosponsor on a few tries to reduce or eliminate the penalty that is criminal players, and she was initially receptive of the idea and was one of a few legislators I centered on. I got in contact with her again following the election, and she readily took on the bill for all of us.’

A Blueprint for the Future

The bill it self believes that many for the details that are legislative be fleshed out by the Gaming Commission and so will not propose a level of taxation, nor does it make no reference to bad actors.

It will, however, suggest that there ought to be two levels of licensing, one for network operators and one for consumer-facing online poker rooms, and it might also leave the door open for interstate pool sharing, during the governor’s discretion.

Moreover, there is additionally a hope that the bill may one day serve as a blueprint for other states trying to legalize online poker in the long term.

‘ Having the big operators provide as systems, with neighborhood skins competing for players, creates the maximum possibility for wide participation, without splintering player liquidity. The greater interests that are local to participate, the fewer opponents there will be among them,’ said Woodward.

Caesars Entertainment Goes for Bankrupt, While Creditors Decry Restructuring Arrange

Caesars Palace is run by Caesars Entertainment Operating Company, Inc., which has filed for Chapter 11 bankruptcy. However, all Caesars properties will stay open during the process, claims CEO Gary Loveman. (Image:

Caesars Entertainment Corp. (CEC) announced the filing of voluntary Chapter 11 bankruptcy this week for its main working unit, Caesars Entertainment Operating Company Inc. (CEOC).

The move was a bid to ease some of its astronomical $23 billion debtload, the majority of that will be held by the unit. CEOC listed around $12.4 billion in assets and $19.9 billion in liabilities in Chapter 11 documents on Thursday.

The subsidiary and its own affiliates employ about 32,000 individuals throughout the United States and run 44 resort and gaming properties in 13 states, since well as in five other countries, including the flagship Caesars Palace in Las Vegas.

However the core message from the parent business is its ‘business as usual’ for all of its gambling enterprises.

‘The properties across the complete Caesars Entertainment network are open and will run without interruption throughout CEOC’s reorganization process,’ said Gary Loveman, the CEO of CEC and chairman of CEOC, within an statement that is official Thursday.

‘Our visitors will continue to make benefits through the Total benefits loyalty program, and all of us remains entirely concentrated on delivering the same service that is outstanding unforgettable entertainment experiences guests attended to expect from Caesars Entertainment. In the years ahead, we will continue to produce and deliver new, innovative hospitality experiences to our guests.’

We Come to Bury Caesars…

But Caesars is not out of the woods yet, since it faces a revolt from its lower-level creditors, who accuse the debt restructuring plan it has resolved with its major creditors of unjustly protecting the organization’s passions during the expense of their own.

This group of lower-level creditors will be in a federal court in Delaware attempting to call a temporary halt to the Chicago case and to stop the restructuring plan from going through as drafted while CEOC files for bankruptcy in Chicago. The move this week follows months of negotiation and litigation between Caesars and its own bondholders.

Caesars countered that these creditors are attempting ‘to wreak havoc on the process that is orderly debtors, their professionals, and the many consenting stakeholders have actually been preparing for months.’

Good Caesars / Bad Caesars

Caesars acquired most of its debt whenever it went private in 2008, following a $30.1 billion takeover by Apollo worldwide Management and TPG Capital, just around the onset of the global downturn that is economic.

As the recession hit the land-based casino industry in the us, the group, having its 50 casinos across the US, suffered.

Caesars has lost cash every year since 2009, and has struggled to cover the interest on its enormous debt. It recently posted 2014 Q3 losses of $908.1 million and month that is last on a $225 million payment.

‘We think this restructuring is into the desires of CEOC’s stakeholders and will result in a capital that is sustainable for CEOC and value creation for several stakeholders,’ said Loveman.

‘The restructuring of CEOC may be the culmination of an effort that is years-long improve the wellness of CEOC’s balance sheet, which has included substantial investment in new and upgraded assets, especially in Las Vegas. I’m extremely confident later on prospects of our enterprise, which will combine a capital that is improved with a community of lucrative properties.’

However, Caesars’ disgruntled creditors have accused Apollo and TPG of attempting to create a ‘good Caesars,’ that may obtain its famous and valuable properties, and a ‘bad Caesars’ to keep the debt.

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