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March 16, 2020GVC’s Profits Skyrocket in Wake of Bwin Acquisition
March 16, 2020Pennsylvania Casino Tax Deadline Looms, as State Scrambles for Revenue Solution

The elimination of the casino tax in Pennsylvania is placing hawaii in a fiscal bind. With all the 2017 session of the General Assembly closing this week, lawmakers must find at least a quick fix to the revenue woes they will have known about since last fall, whenever the state Supreme Court ruled elements of the current casino tax structure were unconstitutional.
Pennsylvania counties risk losing $120 million from a casino tax which has been declared unconstitutional. Gov. Tom Wolf wants a bill on his desk ASAP to treat budget troubles resulting from the state Supreme Court ruling.
When the state legalized some forms of casino gambling in 2006, they did so because of the vow that each casino would pay 2 per cent of gross slot revenues to the townships where they’re situated.
That share was to encourage communities to welcome casino that is new, and help offset extra costs connected with having a gambling place in their garden. If any casinos did not meet a $10 million minimum, however, it had been in it to make the difference up. And that is where the slot machine minimum tax created problem for the courts.
Courtroom Bust
In 2015, the Mount Airy Casino and Resort into the Poconos protested, when 2 per cent of the slot revenues amounted to only about $2.8 million, leaving them $7.2 million short.
The Supreme Court ruled in September 2016 that the formula for determining a slots that are minimum violated the state’s uniformity law. Since one casino generates different slots income from the next, they ultimately end up paying various tax rates to reach the $10 million mandate.
That left the state scrambling for approaches to relieve municipal governments that had come to count heavily regarding the $10 million payments to cover substantial chunks their budgets. In January, legislators were given 120 days to find a solution. So when that deadline passed, the court extended it another 120 times, presenting A may 26 deadline this Friday.
Deadline Pressure
Lawmakers in both chambers have been considering a number of gambling expansion measures with the potential to produce the lass up, particularly as a growing $1.2 billion budget deficit looms. But up to now they have been unable to achieve any agreements.
State Rep. Pat Harkins’ (D-Erie County) HB 1301 calls for a change to a simple flat host fee of $10 million.
Meanwhile, waiting in committee is SB 271, an even more comprehensive gambling reform and expansion package that could provide the legislative framework for the fix to the host-fee dilemma.
The Pennsylvania casino tax is understandably a crucial concern, especially for lawmakers with casinos in their districts with more than $120 million at stake. But with just two scheduled legislative sessions staying before the Friday deadline, politicians seem to be trying to downplay trepidation from regional officials.
‘If it isn’t done by we’ll just make it retroactive,’ State Sen. Lisa Boscola (D-Northampton) told the Allentown Morning Call friday. ‘ The regional municipalities are going to get their money. There isn’t any doubt about this.’
New Jersey a Step Closer to Legalizing DFS as Game of experience
A bill that would classify constant Fantasy Sports as a game that is non-gambling of sailed through the brand new Jersey Assembly on Monday, passing on a bipartisan vote of 56-16.
Democratic Assemblyman Vincent Matteo says the full time is right for regulated fantasy sports in New Jersey, a sentiment that is gaining acceptance in the Trenton statehouse. (Image: AssemblyDems.com)
If Assembly bill 3532 becomes law, it would maybe not just legalize DFS in brand New Jersey, but in addition it might set up DFS to be controlled by hawaii’s Division of customer Affairs and not by the Division of Gaming Enforcement.
So far, 10 states have passed laws that enable for regulation of DFS activity.
Assemblymen Vincent Mazzeo (D-Atlantic City), Ralph Caputo, (D-Essex), and John Burzichelli, (D-Gloucester) sponsored the newest Jersey effort.
‘The fantasy sports industry is a growing market 12 months after year,’ Mazzeo said in a statement. ‘The time is appropriate for New Jersey to enter the fold with regulations aimed at providing strong customer protections for our residents.’
Political Ability Game
As passed, the assembly’s DFS measure would require operators to pay a 10.5 per cent taxation on of most revenues generated from players within New Jersey, which it is approximated would generate around $6.6 million annually.
Both casinos and horse-racing songs could be allowed to enter partnerships with DFS operators.
DFS web sites operated by gambling enterprises would have to locate their servers in Atlantic City, while internet sites operated from outside the continuing state is needed to have one or more server put up in the casino city.
Legislation that could figure out the future of daily dream activities in New Jersey moves next to the state Senate, where their companion legislation, S 1927, has awaited a hearing into the Senate Budget and Appropriations Committee since final June.
A key distinction to be settled before any from it becomes law: The Senate bill classifies DFS as gambling, which requires a different set of rules for oversight.
Supreme Court Challenge?
The safe passage of the 3532 through the Assembly counters a past reluctance to move on DFS legislation that might have complicated or been compromised by New Jersey’s ongoing appropriate battle for the best to offer sports betting at its casinos and racetracks.
Final summer, the 3rd Circuit Court of Appeals ruled against a fresh Jersey law that would’ve legalized traditional sports betting within its borders, declaring it to be in violation of pro and Amateur Sports Protection Act (1992).
New Jersey is waiting to hear if the US Supreme Court will hear its challenge to PASPA, which limits sports gambling to the four states of Delaware, Oregon, Montana, and Nevada.
The Supreme Court has asked the US solicitor general to file a brief regarding the government that is federal view of the matter, which recommends the court may be ready to hear the case. That brief could be sent to the court in coming days or weeks.
Financing for Las Vegas Raiders Stadium Ahead of Schedule, No Plans to Restrict Mobile Betting
The $1.9 billion Las Vegas Raiders football stadium is planned to start construction later on this year, but funding for the mammoth project is already flowing into city coffers.
Construction laborers are prepared to get work regarding the $1.9 billion Las Vegas Raiders site simply across I-15 from Mandalay Bay. (Image: John Locher/Associated Press)
Nevada’s $750 million commitment to bring the NFL franchise to las vegas is funded through a slight increase in the Clark County resort occupancy tax. For every stay that is overnight a resort or hotel, guests spend 0.88 percent of the total rate to help pay for the stadium.
The less than one percent hotel tax equates to $1.32 on a $150 charge. The fee that is supplemental into impact in March.
The increase has generated $8.4 million for the Las Vegas Raiders stadium through two months. That’s ahead of projections reached by the Southern Nevada Tourism Infrastructure Committee this past year, which forecasted $7.9 million from March and April.
‘Two months really don’t make much of a trend, but it’s better to start ahead than behind,’ Las Vegas Stadium Authority (LVSA) Chairman Steve Hill explained this week. ‘ We designed to be conservative and did maybe not wish to overestimate.’
Springing into Action
NFL owners and team representatives are in Chicago this for the league’s annual spring meeting week. Among the many subjects the bosses will consider is the Raiders stadium rent with Las vegas, nevada.
Previously this the Raiders acquired 62 acres of land between Russell Road and Hacienda Avenue for $77.5 million month. And week that is last the team arrived to terms on a 30-year lease agreement with the LVSA.
The lease arrangement is expected to be approved by the NFL ownership or tomorrow today.
The Raiders and owner Mark Davis will control the stadium and its own operations. That is because the town cannot receive any revenue from the facility, as that will break its tax-exempt status and the bonds it intends to issue to help fund the stadium’s construction.
In addition to Nevada’s $750 million, Davis and his investors are regarding the hook for the remaining $1.15 billion, which is being financed by Bank of America.
Mobile Betting? Bet about It
The Raiders’ rent agreement particularly bans gambling inside the stadium. However, it says absolutely nothing about preventing fans from utilizing mobile apps that virtually every major sportsbooks in Las Vegas offers.
Nevada gambling enterprises utilize geolocation technology to allow online and gambling that is mobile take destination inside the Silver State. Approximately 50 % of all sports wagers in Las Vegas are now placed remotely through apps.
Nevada Gaming Commissioner Chairman Tony Alamo unveiled recently that the league hasn’t approached his office regarding betting that is mobile.
The NFL Compliance Plan mandates that players stay out of sportsbooks during the season that is regular and teams are barred from accepting advertising from any entity that owns or runs a sports gambling facility.
That, of course, eliminates numerous entertainment and hospitality companies from investing in marketing materials at the Raiders stadium.
The relocation for the storied Bay Area team shall place the NFL closer than ever to legalized gambling when the Raiders begin play in nevada in 2020. Many think it’s time for professional football to ease its harden opposition to gambling, but up to now Commissioner Roger Goodell has offered no hints that that happening.
Sexton Leaves WPT, Will Join Duthie at Partypoker to create Friendly Juggernaut
Hall of Famer Mike Sexton, the voice associated with the World Poker Tour and for many the vocals of poker, is making the WPT to just take up a new role as president of partypoker.
Mike Sexton (left) is leaving the WPT broadcast booth after 15 periods to become listed on John Duthie (right), creator of the EPT, in assisting partypoker bring the game back once again to its early success. (Image: partypoker)
Sexton has been with the WPT since Season 1, Episode 1, which aired in 2003. In numerous ways, he taught the world to try out poker, offering language to the overall game that would soon become a international hit.
He will be handing over the broadcast reins to fellow United states Tony Dunst, who will join Sexton’s longtime sidekick in the booth, Vince Van Patten. But the move is about more than just the future of a tv program.
In their role that is new as chairman, Sexton’s work will be to direct Party’s development, serving as a liaison between company executives and the poker community. Specific duties will include improving customer services, tailoring products towards small-stakes players, and helping develop partypoker LIVE.
Life associated with Party
Both as host and a player, Sexton has maintained a longtime relationship with partypoker in addition to being a permanent fixture on the WPT.
As one of the organization’s founding users nearly 15 years ago, in the early times of internet poker, Sexton was with the site at its peak.
Party’s fortunes changed after 2006, whenever passage through of the Unlawful Internet Gambling Enforcement Act led partypoker (then PartyPoker) to make a strategic decision to no longer serve US players.
Even though that move diminished his role, Sexton continued to serve as a brand ambassador for Party, which in 2009 acquired the WPT.
Dynamic Duo
With partypoker LIVE, Sexton will be working with another industry stalwart, John Duthie, who had been named president of partypoker are now living in 2017 february.
Duthie was the man behind the poker that is european (EPT) in the early poker boom days. Pre-UIGEA, PartyPoker was on top of the poker globe, but would give that position up to PokerStars.
Key to movie Stars’ growth and eventual dominance in online poker was their development of this European Poker Tour, a few real time poker events that worked in synchronicity with their online product. Duthie developed that concept with the EPT, and it is what he hopes to create back towards the game with Party.
‘I believe there is a gap looking for an operator whose main focus is poker and that will listen to, and work with, the poker community as it was something which was absolutely key to the growth and success for the EPT,’ Duthie explained in the partypoker blog in February.
As Sexton has said to people for almost 15 seasons, they truly are hoping their new team’s cards will be real time, while the pots will be monsters.
In Sherrice Iverson’s Shadow, Gaming Industry Still Struggling to help Keep Kids Secure
Billionaire mogul Steve Wynn has long argued against kids being in gambling enterprises. His two present Las Vegas properties, the tony Wynn and encore that is adjacent the Strip, prohibit visitors with strollers from entering the resorts unless they’re visitors at the hotel.
Someone’s watching you, but not necessarily your kids or their security, in Nevada casinos. (Image: Wikipedia)
But at the more ‘everyman’ Station Casinos, with nearly two dozen properties across Nevada, color codes differentiate many areas of its home maps, with under-21 areas shadowed in red.
Whether that helps predators know where you can find their next victim could be the question, given one associated with the state’s most notorious cases that dates back two decades.
The goal, of course, would be to keep underage visitors out of gambling enterprises, and away through the free flow of alcoholic beverages. Resorts today have added security and eyes in the sky, but are here enough preventative protocols in place to prevent the next Sherrice Iverson tragedy from happening? The answer is uncertain, at best.
Searching Back at Tragedy
It has been twenty years since a Primm casino made headlines for all the wrong reasons: the rape that is brutal murder of the innocent seven-year-old girl whom had been Iverson.
Sherrice Iverson wandered a Primm casino in 1997, unaware that a predator that is gruesome staking her out. Today, Nevada resorts hope that couldn’t be possible, but the reality is, kids could be left for their own devices in many casinos. (Image: Sherrice Iverson Family/LVR-J)
As recounted recently in the Las Vegas Review-Journal, might 25, 1997, became a day that is infamous Nevada casino history.
It’s the date whenever Iverson, left to play unsupervised in a game arcade, had been lured into your bathrooms, sexually assaulted, then strangled by an intoxicated 18-year-old man inside the then-named Primadonna Resort and Casino.
It’s now called Primm Valley and is found about 30 mins outside of Las Vegas on the California border.
Why was a school that is elementary walking a casino floor in the early morning hours? Her father was gambling and drinking, and had tasked her older brother with keeping an eye on the young woman, perhaps not effectively, clearly.
Jeremy Strohmeyer, the guy who took the child into the restroom and the convicted murderer in this case, also should not have held it’s place in a casino gambling and consuming the away night. Since real money casino android app Nevada legalized gambling in 1931, it’s been necessary that anyone be at least 21 years old to put a bet or have a drink.
Safeguards failed Sherrice, and Strohmeyer claims now, from behind bars where he’s serving a life sentence, that they failed him, too. As he did 20 years ago because well.
During his sentencing, the Review-Journal noted in its recent tale, Strohmeyer took no duty for the murder, telling the court in a prepared declaration that ‘…had the casino not offered alcohol repeatedly to an 18-year-old … would that have saved Sherrice? I believe so.’
Strohmeyer is serving life in jail with no chance of parole, and is now 38. Iverson would be 27 if she were still alive today.
Murky Laws, Questionable Outcomes
The fallout from the Iverson murder led to increased safety on casino floors and in family-friendly areas and children’s hangouts, such as game arcades.
Clark County additionally applied a curfew for people under 18 not followed by a guardian or parent. That ordinance remains in spot to this and hits at 10 pm Sunday through Thursday, and at 9 pm on Friday and Saturday nights on the Las Vegas Strip day.
Nevada law prevents those under 21 from gambling and loitering on casino floors. But unlike in other states where casino entry per se is fixed to those whom supply proper IDs, underage guests in las vegas are permitted to traverse gaming areas to be able to reach a resort’s non-gaming areas, including rooms in hotels, restaurants, shops, or pools.
The flow that is free of helps it be hard, if you don’t impossible, for casino security to strictly enforce keeping kids off of the gaming area floor. If a moms and dad were to hold back outside a restroom while their offspring went in, for example, or conversely, if they asked their kids to wait while the adults used the facilities, there’s only so security that is much that’s more likely to happen, as long due to the fact kids aren’t seen actually trying to play a game.
‘we see parents and toddlers, babies also, in nevada casinos all the time,’ stated gambler that is local Prescott when asked about casino security measures that she’s witnessed. ‘Maybe they’ve rules about young ones on the floor, nonetheless it certain doesn’t seem like they get enforced. I’ve also seen strollers going through casinos at 2 and 3 am.’
