
This neck and neck finish at Suffolk Downs Boston-area racetrack is symbolic of how their casino vote is unfolding. (Image source: Boston World)
These days: can the Red Sox win their third World Series title in 10 years in the city of Boston, there’s just one issue keeping city residents up at night? But while David Ortiz plus the remaining portion of the Sox are busy fighting the St. Louis Cardinals for baseball bragging rights, there’s another battle brewing under the surface plus it could be just as contentious as the obstruction ruling that ended Game 3.
Bugles Playing ‘First Call’
Both supporters and opponents associated with the intend to create a casino in East Boston are ramping up their efforts to get the vote out in the ultimate days before the November 5th election, as both sides are anticipating a close race that could fall to voter turnout. The casino, which would be placed at Suffolk Downs, is a hotly debated issue in churches, on street corners, and also among candidates for mayor.
Anti-casino forces feel just like they’re seeing some prospective for a modification by means of the vote though that could be either good or negative. The exit of Caesars Entertainment as a partner for Suffolk Downs in the casino bid recently has thrown the race into chaos, they want to support the plan as it has confused voters over whether or not.
That confusion has shown up in the polling of an organization known as the Friends of East Boston, which opposes the casino task. According to lead organizer Pedro Morales, the group does phone polling of 1,200 to 1,500 East Boston residents every day. Ahead of the news about Caesars departure from the project, about 10 % of residents had been nevertheless undecided about whether or not to ever support the Suffolk Downs bid. Now, that number is within the array of 22 % to 24 percent every day.
‘Last night, one precinct went from 22 percent to 37 percent,’ Morales told the Boston Herald. ‘I’m not saying at all that that’s immediately to our advantage. They could easily say they truly are waiting to see who the new partner is. The least that will be said is that uncertainty has definitely been introduced.’
Neck and Neck Towards the line that is finish
According to Morales, their polling shows that about 40 percent are for the casino bid, with another 40 per cent opposing it. Suffolk Downs says that they don’t see precisely the same numbers, and that they believe undecided voters may be won over by hearing the details of their proposal.
But no matter the exact numbers they have, both edges plainly feel the issue wasn’t decided yet and which means a lot of efforts to get voters on their respective sides in the final days before the election.
‘we are doing a bit of door-to-door canvassing, we’re offering rides to the polls and we’ve been supports that are ID’ing the method,’ said Suffolk Downs COO Chip Tuttle. According to Tuttle, hundreds of volunteer casino supporters will likely be canvassing on their behalf in the week that is last Election Day, planning to see thousands of voters and promote the virtues of this casino want to them.
Opponents associated with the casino bid won’t be sitting on their fingers, either. They’ve set up a base camp at a community church, where religious leaders and others in the community are working together to oppose the efforts of Suffolk Downs.
‘It’s really, really simple,’ Morales stated. ‘for you. if you adore your community, your family, your churches, the casino can’t be good’
New York Casino Expansion Could North Jersey that is prompt Casino
If voters give a thumbs up to New York State casino expansion, will North Jersey be next to construct? (Image source: WCBS 880)
In a lot of methods, the battle for the northeastern casino market has turned into an arms race between the states. And which means that whenever one neighbor unveils a weapon that is new it’s only a matter of time before another answers in sort. That’s why there’s now significant amounts of speculation that the round that is latest of casino expansion planned for nyc could ultimately lead to a new casino in North Jersey, as New Jersey continues to keep their shrinking share of this regional casino market in that area.
The new danger of gambling enterprises in New York hasn’t materialized yet and it may never ever take place at all. New Yorkers are going to the polls on Election in November to decide whether or not to approve the building of new, ‘Las Vegas-style’ casino resorts in upstate New York day. But passage appears at least reasonably likely, which could add yet more competition that is regional the mix.
One Upsmanship But Is It Performing?
And should more casinos be added in other states, it’s likely that New Jersey would see that as an invitation to incorporate a casino that is new of very own. An area in northeast New Jersey that is already the site of the Meadowlands Sports Complex: home to the Meadowlands Racetrack, MetLife Stadium (which houses the New York Jets and the New York Giants), and the Izod Center, which formerly hosted the New Jersey Nets (which have since become the Brooklyn Nets) and the New Jersey Devils hockey team in particular, politicians and industry insiders are imagining the possibility of a casino in the Meadowlands.
Have you been still with us?
According to some in North Jersey, the state is losing a good amount of prospective income by maybe not having a casino in that region of the state. A good amount of gamblers, they say, are headed to the Empire Casino in Yonkers, NY or nearby Pennsylvania casinos in Bethlehem and also the Poconos. These areas are lot more convenient to access for many New Jersey residents than the casinos in their own personal state.
‘Do you might think folks from northern nj are getting to drive all of the way to Atlantic City when they would like to play the slots for a few hours?’ asked Jeffrey Gural, operator associated with the Meadowlands racetrack. ‘Gas is $4 a gallon. You tell me.’
But while the danger of more regional casinos may be the spark that finally pushes the state to seriously consider a Meadowlands casino, the idea has held it’s place in the works for the while. And in reality, the battle that is biggest may be the one between Atlantic City and North Jersey. Many Atlantic City officials fear that a new casino in northern New Jersey could be the death knell for the city’s already land gaming industry that is flailing.
Atlantic City Revival Still Needs A arrived at Jesus
The revival of Atlantic City has been a major policy point for New Jersey Governor Chris Christie, who says that he does not wish any new casinos to be built outside of the town at least until his five-year plan for revitalizing the casino industry there is provided to be able to work. While that effort may not have had quite the results Christie was hoping for so far, losses have actually at least slowed in Atlantic City as well as the governor’s office says if he had known New York was planning to build new casinos that he would have followed the same plan even.
‘[The plan to create new gambling enterprises in New York] doesn’t alter we can to maintain or grow our presence in the competitive casino market,’ said Michael Drewniak, a spokesman for the governor that we set out at the beginning of the administration to give Atlantic City the best chance.
LAND CASINO SATURATION IN THE US:
Across the united states of america, gaming analysts warn that the brick-and-mortar casino industry is nearing its saturation point. In early 2013, Alex Bumazhny, a Fitch gaming analyst, told Bloomberg News that land-based gaming ended up being ‘close’ to this huuuge withdrawal times level already, and University of Nevada, Reno teacher Mark Nichols concurred, saying ‘…everybody is pretty much the exact same and everyone is for a passing fancy playing field. Then it just comes down to location.’
With Atlantic City’s land video gaming revenues down a whopping 50 percent since neighboring Pennsylvania started its casino doors in 2006, sufficient reason for even newer gambling enterprises in Illinois and Maryland struggling to satisfy profit goals, it’s hard to argue with this particular obvious reality that is new.
Several states are now looking to burgeoning legal and regulated online state-by-state gambling to pick up the slack. With Nevada currently offering online poker, and Delaware and brand new Jersey perched to supply full casino games before year’s end, the gambling industry also as state coffers around the world will definitely be waiting and watching to see how this brand new aspect plays out.
Las Vegas Sands 3rd Quarter Macau Profits Shine In Comparison To Las Vegas
It’s all about Macau: Las Vegas Sands Corp.’s 3rd quarter profits were soaring in the Asian gambling mecca.
Location, location, location: that’s whatever they always say in real-estate. And for Las vegas, nevada Sands Corp., that’s proving entirely true, even if, ironically, it’s Macau, not nevada, that’s turning out to be the casino company’s shining star.
‘(Las Las Vegas Sands) stays predominantly A asia story that is secular-driven’ noted Macquarie Securities gaming analyst Chad Beynon following the Sands’ third quarter P & L statement. ‘In our view, Las Vegas Sands remains the best Asian gaming development and cashflow investment story.’
Macau Carries the Day
The Venetian and the Palazzo, analysts are still gung-ho on Las Vegas Sands’ overall financial outlook despite a so-so performance from the Sands’ shnazzy Las Vegas Strip properties.
‘We continue steadily to such as the Macau video gaming sector overall, driven by attractive marketwide revenue growth, particularly in the mass gaming segment,’ added JP Morgan gaming analyst Joe Greff. ‘Las Vegas Sands’ college accommodation base should allow [the company] to grow top line and [cash flows] in more than the market participants.’
Seems the bully gaming market in Macau is still growing at a steroidal rate; some analysts anticipate the end-of-October figures to exceed any single-month revenue records to date. And the July September 2013 quarter showed a 43 percent boost in Sands’ four main Macau gaming divisions, and an astounding 89 percent bump from the same time frame period year that is last. With $2.34 billion in net revenues from their Macau properties for the quarter that is third it results in an impressive 65 percent of the company’s overall intake of $3.57 billion.
No wonder Sands CEO Sheldon Adelson is pouring more development money into another project there; he’s got $2.7 billion earmarked for a new 3,000-room property that has a Parisian theme and a 2015 expected opening. That makes five major casinos there ( and why perhaps not once they’re making cash hand over fist): the Venetian Macau, Four Seasons Macau, Sands Macau, and the multiple-hotel Sands Cotai Central task, along with the resort that is new planned.
Non-Gambling Profits Also Doing Well
And it’s not just gaming that’s going gangbusters for Sands in Asia; non-gaming revenues are pulling their weight as well, based on Rob Goldstein, the organization’s president of global video gaming operations.
‘With our space base, that is a very good thing for us,’ Goldstein said, discussing the trend of mainland Chinese tourists coming to and remaining in Macau. ‘They stay longer, come from further away and require sleeping rooms. So Sheldon’s (Adelson) 9,000 sleeping rooms in Cotai proved to be a pretty good idea.’
Susquehanna International Group gaming analyst Rachael Rothman agrees, adding that the growing influx of tourists to Macau highlights ‘…the importance for the infrastructure build-out in greater China that continues to increase Macau’s reach.’
Adelson are the major contributor to that much-needed infrastructure, with a $10 billion Hong Kong-Macau-Zhuhai Bridge slated to open in 2016. The bridge will greatly lessen the drive time it takes for visitors to reach Macau from Asia, which, as anyone whom has ever sat in traffic knows, is obviously a thing that is good.
Sands’ Macau success has analysts chomping to see what the casino company will do when and if Japan legalizes gambling as well. Sands president Michael Leven says that Asian country’s $6 billion a year casino market would match what’s happening on the las vegas strip, but macau’s $38 billion take in 2012 are going to be hard to top, especially as those figures are up another 17 percent at the time of end of third quarter 2013.
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