This neck and neck finish at Suffolk Downs Boston-area racetrack is symbolic of how their casino vote is unfolding. (Image supply: 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 therefore the rest of the Sox are busy battling the St. Louis Cardinals for baseball bragging liberties, there’s another battle brewing under the surface plus it might be just as contentious as the obstruction ruling that ended Game 3.
Bugles Playing ‘First Call’
Both supporters and opponents for the plan to create a casino in East Boston are ramping up their efforts to get the vote out in the final times before the November 5th election, as both sides are anticipating a close race that could come down to voter turnout. The casino, which may be placed at Suffolk Downs, is now a hotly debated issue in churches, on road corners, and even among applicants for mayor.
Anti-casino forces feel like they’re seeing some possible for the noticeable change by means of the vote though which could be either positive or negative. The exit of Caesars Entertainment as a partner for Suffolk Downs in the casino bid recently has thrown the race into chaos, because it has confused voters over whether or not they would like to support the master plan.
That confusion has shown up in the polling of an organization referred to as Friends of East Boston, which opposes the casino project. According to lead organizer Pedro Morales, the group does phone polling of 1,200 to 1,500 East Boston residents every day. Prior to the news about Caesars departure from the project, about 10 percent of residents were still undecided about whether or not to support the Suffolk Downs bid. Now, that number is within the range of 22 percent to 24 percent every day.
‘Last night, one precinct went from 22 percent to 37 percent,’ Morales told the Boston Herald. ‘I’m perhaps not saying at all that that’s immediately to our benefit. They could effortlessly say they truly are waiting to see whom the partner that is new. The least that can be said is doubt has definitely been introduced.’
Neck and Neck Towards the Finish Line
Based on Morales, his polling indicates 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 are won over by hearing the details of their proposal.
But no matter the exact numbers they have, both edges clearly feel the matter hasn’t been decided yet and which means an abundance of efforts to get voters on their respective sides in the final days before the election.
‘We’re doing a bit of door-to-door canvassing, we’re offering rides to the polls and we’ve been ID’ing supports along the means,’ said Suffolk Downs COO Chip Tuttle. According to Tuttle, hundreds of volunteer casino supporters will likely be canvassing on their behalf within the week that is last Election Day, planning to consult with 1000s of voters and promote the virtues associated with casino want to them.
Opponents associated with the casino bid won’t be sitting on their hands, either. They’ve set up a base camp at a neighborhood church, where leaders that are religious others into the community will work together to oppose the efforts of Suffolk Downs.
‘It’s really, really easy,’ Morales stated. ‘If you love your community, your loved ones, your churches, the casino can’t be good for you personally.’
Brand 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 build? (Image source: WCBS 880)
The battle for the northeastern casino market has turned into an arms race between the states in a lot of ways. And meaning that after one neighbor unveils a weapon that is new it’s only a matter of the time before another answers in type. That’s why there’s now significant amounts of conjecture that the round that is latest of casino expansion planned for nyc could ultimately lead to a completely new casino in North Jersey, as nj-new Jersey continues to retain their shrinking share regarding the regional casino market in that area.
The threat that is new of in New York hasn’t materialized yet and it may never ever happen at all. New Yorkers are likely to the polls on Election Day in November to decide whether or not to approve the building of the latest, ‘Las Vegas-style’ casino resorts in upstate New York. But passage seems at least reasonably likely, which could add yet more local competition to the mix.
One Upsmanship But Could It Be Working?
And should more gambling enterprises be added in other states, it is most likely that New Jersey would see that being an invitation to incorporate a casino that is new of own. In specific, politicians and industry insiders are imagining the chance of a casino within the Meadowlands, an area in northeast New Jersey that is already the website of the Meadowlands Sports Complex: home to the Meadowlands Racetrack, is huuuge legit MetLife Stadium (which houses the New York Jets and the New York Giants), while the Izod Center, which formerly hosted the brand new Jersey Nets (which have since end up being the Brooklyn Nets) and the New Jersey Devils hockey team.
Are you still with us?
According to some in North Jersey, the state is losing lots of prospective revenue by perhaps not having a casino in that area 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 therefore the Poconos. These areas are lot far more convenient to access for many New Jersey residents than the casinos in their own personal state.
‘Do you believe people from northern nj-new jersey ‘re going to drive most of the way to Atlantic City when they would like to play the slots for the few hours?’ asked Jeffrey Gural, operator of this Meadowlands racetrack. ‘Gas is $4 a gallon. You tell me.’
But while the danger of more regional casinos may function as spark that finally pushes the state to you should think about a Meadowlands casino, the idea has been in the works for a while. And in reality, the battle that is biggest could be the one between Atlantic City and North Jersey. Many Atlantic City officials worry that a new casino in northern brand New Jersey will be the death knell for the town’s already land gaming industry that is flailing.
Atlantic City Revival Nevertheless Needs A visited Jesus
The revival of Atlantic City has been a major policy point for brand New Jersey Governor Chris Christie, who states that he does not desire any new casinos to be built outside of the town at least until his five-year plan for revitalizing the casino industry there was given to be able to work. While that effort might not have had quite the results Christie was hoping for therefore far, losings have at the least slowed in Atlantic City and the governor’s office says that he would have followed equivalent plan even if he had understood nyc was likely to build new gambling enterprises.
‘[The plan to build new gambling enterprises in New York] doesn’t alter that we set out at the beginning of the administration to provide Atlantic City the most readily useful chance we can to maintain or grow our presence in the competitive casino market,’ said Michael Drewniak, a spokesman for the governor.
LAND CASINO SATURATION IN THE USA:
Across the United States, 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 Information that land-based gaming was ‘close’ to this level currently, and University of Nevada, Reno professor Mark Nichols concurred, saying ‘…everybody is pretty much the same and everyone is on a single 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 launched its casino doors in 2006, sufficient reason for also newer gambling enterprises in Illinois and Maryland struggling to meet profit objectives, it’s hard to argue with this apparent reality that is new.
Several states are actually looking to burgeoning appropriate and regulated online state-by-state gambling to pick up the slack. The gambling industry as well as state coffers across the country will certainly be waiting and watching to see how this new aspect plays out with Nevada already offering online poker, and Delaware and New Jersey perched to offer full casino games before year’s end.
Las Las Vegas Sands 3rd Quarter Macau Profits Shine Compared to Las Vegas
It is all about Macau: nevada Sands Corp.’s 3rd quarter earnings were soaring in the Asian gambling mecca.
Location, location, location: that’s whatever they always say in property. And for Las Vegas Sands Corp., that is appearing entirely real, even when, ironically, it’s Macau, not Las Vegas, that’s turning out to be the casino company’s shining star.
‘(Las Vegas Sands) remains predominantly A china 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 most useful gaming that is asian and income 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 to such as the Macau gaming sector overall, driven by attractive marketwide revenue growth, especially in the mass gaming segment,’ added JP Morgan video gaming analyst Joe Greff. ‘Las Las Vegas Sands’ college accommodation base should allow [the company] to grow top line and [cash flows] in excess of industry participants.’
Seems the gaming that is bully in Macau is still growing at a steroidal rate; some analysts expect the end-of-October figures to exceed any single-month income records up to now. And also the July September 2013 quarter showed a 43 percent boost in Sands’ four primary Macau gaming divisions, and a staggering 89 percent bump from the same time period year that is last. With $2.34 billion in net revenues from their Macau properties for the 3rd quarter, it results in a whopping 65 % of the company’s overall intake of $3.57 billion.
No wonder Sands CEO Sheldon Adelson is pouring more development money into another project here; he has $2.7 billion earmarked for a new 3,000-room property that has a Parisian theme and a 2015 anticipated opening. That is likely to make five major casinos there ( and exactly why not when they’re making money hand over fist): the Venetian Macau, Four Seasons Macau, Sands Macau, and the multiple-hotel Sands Cotai Central task, combined with the brand new resort being planned.
Non-Gambling Profits Also Doing Well
And it’s not just gaming that is going gangbusters for Sands in Asia; non-gaming revenues are pulling their weight also, based on Rob Goldstein, the company’s president of global video gaming operations.
‘With our room base, that’s a very thing that is positive us,’ Goldstein stated, 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 turned out become a pretty good concept.’
Susquehanna International Group gaming analyst Rachael Rothman agrees, incorporating that the influx that is growing of to Macau highlights ‘…the importance regarding the infrastructure build-out in greater China that continues to increase Macau’s reach.’
Adelson is the major factor to that much-needed infrastructure, with a $10 billion Hong Kong-Macau-Zhuhai Bridge slated to start in 2016. The bridge will greatly lessen the drive time it takes for people to reach Macau from Asia, which, as anyone who has ever sat in traffic knows, is always a thing that is good.
Sands’ Macau success has analysts chomping to see just what the casino business shall do when and if Japan legalizes gambling also. Sands president Michael Leven says that Asian nation’s $6 billion a casino market would match what’s happening on the las vegas strip, but macau’s $38 billion take in 2012 will be hard to top, especially as those figures are up another 17 percent as of end of third quarter 2013 year.