This neck and neck finish at Suffolk Downs Boston-area racetrack is symbolic of how their casino vote is unfolding. (Image source: Boston Globe)
In the town of Boston, there’s just one problem keeping city residents up at night these days: can the Red Sox win their under developed Series title in 10 years? But while David Ortiz as well as 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 might be just as contentious as the obstruction ruling that ended Game 3.
Bugles Playing ‘First Call’
Both supporters and opponents associated with intend to create a casino in East Boston are ramping up their efforts getting the vote out in the last times before the November 5th election, as both sides are anticipating a close race that could drop to voter turnout. The casino, which will be placed at Suffolk Downs, is now 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 potential for the noticeable modification by means of the vote though which could be either good or negative. The exit of Caesars Entertainment being 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 wish to support the program.
That confusion has shown up in the polling of an company 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. Before the news about Caesars departure from the project, about 10 % of residents had been still undecided about whether or not to ever support the Suffolk Downs bid. Now, that number is in the range of 22 per cent 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 easily say they truly are waiting to see whom the brand new partner is. The least that will 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 percent opposing it. Suffolk Downs says that they don’t see exactly the same numbers, and they believe undecided voters is won over by hearing the details of their proposal.
But aside from the numbers that are exact have, both sides demonstrably feel the matter was not decided yet and which means a great amount of efforts to obtain voters on their respective sides within the final days before the election.
‘We’re doing some door-to-door canvassing, we’re offering rides to the polls and we’ve been ID’ing supports along the way,’ said Suffolk Downs COO Chip Tuttle. According to Tuttle, hundreds of volunteer casino supporters are canvassing on their behalf in the last week before Election Day, planning to go to a large number of voters and promote the virtues of this casino intend to them.
Opponents regarding the casino bid won’t be sitting on the hands, either. They’ve set up a base camp at a neighborhood church, where leaders that are religious others in the community are working together to oppose the efforts of Suffolk Downs.
‘It’s really, really easy,’ Morales stated. ‘for you. if you love your community, your family, your churches, the casino can’t be good’
New York Casino Expansion Could Prompt North Jersey Casino
If voters give a thumbs up to New York State casino expansion, will North Jersey be next to construct? (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 that means that whenever one neighbor unveils a new weapon, it’s only a matter of the time before another answers in type. That’s why there’s now a great deal of speculation that the round that is latest of casino expansion planned for nyc could ultimately lead to a completely new casino in North Jersey, as New Jersey continues to keep their shrinking share associated with the regional casino market in that area.
The threat that is new of in New York hasn’t materialized yet and it may never 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 seems at least reasonably most likely, which could add yet more competition that is regional the mix.
One Upsmanship But Can It Be Performing?
And should more gambling enterprises be added in other states, it’s most likely that New Jersey would see that being an invitation to add a casino that is new of 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.
Are you currently still with us?
According to some in North Jersey, the state is losing a great amount of potential income by not having a casino in that region of the state. An abundance of gamblers, they say, are headed to the Empire Casino in Yonkers, NY or nearby Pennsylvania casinos in Bethlehem plus the Poconos. These areas are a complete lot more convenient to access for many nj-new Jersey residents than the casinos in their own personal state.
‘Do you might think folks from northern nj-new jersey are getting to drive most of the way to Atlantic City when they wish to play the slots for a hours that are few’ asked Jeffrey Gural, operator associated with Meadowlands racetrack. ‘Gas is $4 a gallon. I am told by you.’
But while the danger of more casinos that are regional function as the spark that finally pushes the state to you should think about a Meadowlands casino, the idea has experienced the works for the 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 New Jersey will be the death knell for the city’s already land gaming industry that is flailing.
Atlantic City Revival Nevertheless Needs A visited Jesus
The revival of Atlantic City has been a policy that is major for brand New Jersey Governor Chris Christie, who states which he doesn’t wish any new casinos to be built outside of the town at minimum until his five-year plan for revitalizing the casino industry there was given a chance to work. While that effort might not have had quite the results Christie was hoping for therefore far, losings have at least slowed in Atlantic City and 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 construct new gambling enterprises in New York] doesn’t alter that we set out at the beginning of the administration to give Atlantic City the best opportunity we can to maintain or grow slotsforfun-ca.com our presence in the competitive casino market,’ stated Michael Drewniak, a spokesman for the governor.
LAND CASINO SATURATION IN THE USA:
Across the usa, gaming analysts warn that the brick-and-mortar casino industry is nearing its saturation point. A Fitch gaming analyst, told Bloomberg News that land-based gaming was ‘close’ to this level already, and University of Nevada, Reno professor Mark Nichols concurred, saying ‘…everybody is pretty much the same and everybody is on the same playing field in early 2013, Alex Bumazhny. Then it just comes down to location.’
With Atlantic City’s land video gaming revenues down a whopping 50 percent since neighboring Pennsylvania exposed its casino doors in 2006, and with also newer casinos in Illinois and Maryland struggling to meet 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 the slack up. 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 Vegas Sands 3rd Quarter Macau Profits Shine Versus Las Vegas
It’s all about Macau: nevada Sands Corp.’s 3rd quarter earnings were soaring in the Asian gambling mecca.
Location, location, location: that is what they always say in real-estate. And for vegas Sands Corp., that is proving entirely true, even in the event, ironically, it’s Macau, not Las Vegas, that’s turning out to be the casino company’s shining star.
‘(Las Vegas Sands) continues to be predominantly A china secular-driven story,’ noted Macquarie Securities gaming analyst Chad Beynon following the Sands’ third quarter P & L statement. ‘In our view, Las Vegas Sands continues to be the most useful Asian gaming growth and income investment tale.’
Macau Carries the Day
Despite a so-so performance from the Sands’ shnazzy nevada Strip properties, the Venetian while the Palazzo, analysts are still gung-ho on Las Las vegas Sands’ overall economic outlook.
‘We continue steadily to like the Macau video gaming sector total, driven by attractive marketwide revenue growth, particularly in the mass gaming segment,’ added JP Morgan gaming analyst Joe Greff. ‘Las Las Vegas Sands’ college accommodation base should allow [the company] to grow line that is top [cash flows] in excess of the market participants.’
Seems the gaming that is bully 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. As well as the July September 2013 quarter showed a 43 percent boost in Sands’ four primary Macau video gaming divisions, and a staggering 89 percent bump from the same time frame duration last 12 months. With $2.34 billion in net revenues from their Macau properties for the 3rd quarter, it adds up to a whopping 65 percent of the company’s overall intake of $3.57 billion.
No wonder Sands CEO Sheldon Adelson is pouring more development funding into another project there; he’s got $2.7 billion earmarked for a brand new 3,000-room property that has a Parisian theme and a 2015 expected 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 project, along with the 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 too, based on Rob Goldstein, the company’s president of global gaming operations.
‘With our room base, that is a very good thing for 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 proved become a pretty good concept.’
Susquehanna International Group gaming analyst Rachael Rothman agrees, incorporating that the growing influx of tourists to Macau highlights ‘…the importance regarding the infrastructure build-out in greater China that continues to increase Macau’s reach.’
Adelson are the major factor to that much-needed infrastructure, with a $10 billion Hong Kong-Macau-Zhuhai Bridge slated to open in 2016. The bridge will greatly cut down on the drive time it takes for people to reach Macau from Asia, which, as anyone who has ever sat in traffic knows, is definitely a thing that is good.
Sands’ Macau success has analysts chomping to see what the casino company shall do whenever and if Japan legalizes gambling as well. 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.