Adelson Casino Wages Ad War Against Pennsylvania VGT Expansion

Adelson Casino Wages Ad War Against Pennsylvania VGT Expansion

An aggressive $1 million advertising campaign backed by Sheldon Adelson, chairman and CEO of Las Vegas Sands, is wanting to block legislation in Pennsylvania that would enable movie video gaming terminals (VGTs) in vehicle stops, restaurants, bars, and off-track betting facilities.

Billionaire casino magnate Sheldon Adelson is funding a combined team to fight proposed legislation that threatens his hold on gambling task within the Keystone State.

Adelson’s Sands Casino Resort Bethlehem is leading the fight against home Bill 1010, which would permit certain establishments to install VGTs real-money that is offering, poker, as well as other casino games.

There are currently almost 27,000 VGTs in Pennsylvania, all of them in the state’s 12 casinos. If HB 1010 passes, the amount could more than double.

John Cunnane, a Wall Street gaming and leisure analyst for Stifel Investment Services, told the Allentown Morning Call that such an expansion of VGTs and authorized VGT locations certainly could hurt established gaming facilities.

‚That’s a number that is insane of, and we’ve heard of impact that’s had on gambling enterprises in places like Iowa and Illinois,‘ Cunnane said. ‚It won’t cause a mass exodus from casinos, but they shall feel the pain, no doubt.‘

Media Wars

Through Sands Casino Resort Bethlehem, Adeslon provided $1 million to Pennsylvanians For accountable federal Government (PRG), a newly created lobbying „Adelson Casino Wages Ad War Against Pennsylvania VGT Expansion“ weiterlesen

Crown Resorts Looks to Sell Las Vegas Property for $400 Million

Crown Resorts Looks to Sell Las Vegas Property for $400 Million

Crown Resorts wishes to produce a deal for its vacant acreage on the Strip simply north of Fashion Show Drive in vegas, but only for the price that is right.

Crown Resorts is attempting to sell its land that had been supposed to be the home of Alon Las vegas, nevada, plus the home comes with some instead prominent neighbors.

In late 2016, Crown announced it ended up being abandoning Alon, a planned 1,100-room casino resort across from Wynn vegas. The hospitality that is australian entertainment conglomerate has become looking to market the 34.6 acres where the project ended up being become built for $400 million.

And the massive listing cost comes with a caveat: the buyer is actually just getting ownership in 18.4 acres, once the staying 16.2 comes the main package through a lease. Which means each acre fully purchased is being sold at $21.7 million.

CBRE Group, a realty firm that recently executed the Las Vegas Raiders‘ land purchase, is listing the property. The realtor that is commercial the Alon location warrants the purchase price.

‚This is one of the most exciting properties to become available in Las Vegas in a time that is long‘ CBRE broker John Knott stated in a press release.

Crown Resorts‘ biggest shareholder continues to be its founder, James Packer. The billionaire resigned from serving as chairman in August of 2015, but remains an active director.

Crowning Achievement

Should Knott manage to find „Crown Resorts Looks to Sell Las Vegas Property for $400 Million“ weiterlesen

Miami Beach Pushes Back Against Casinos, Approves Two Ordinances to Block Gambling

Miami Beach Pushes Back Against Casinos, Approves Two Ordinances to Block Gambling

Miami Beach will probably make it extremely hard for a casino to take a foothold in the coastal island city. Late week that is last a special conference, the city commission voted unanimously in support of two ordinances that would ban all future efforts to get gambling into Miami Beach.

Miami Beach won’t be welcoming a casino to its shores any time in the future, as new town ordinances will block gambling projects from moving ahead.

Though politicians in Tallahassee failed to reach a brand new gaming compact with the powerful Seminole Tribe during the 2017 legislative calendar, the state senate’s consideration of expanding gambling and authorizing commercial casinos in Southern Florida has spurred local governments towards taking their very own proactive measures.

Miami Beach first voted in early May to discuss adopting new land-use regulations that bar gambling venues within town limitations. May 13, the payment ratified two ‚future land use element‘ chapters that mandate that ‚All casino and gambling operations … are hereby prohibited in almost any land usage category within the City of Miami Beach.‘

No Miami (Beach) Vice

Miami Beach is famed for its Art Deco streets, scantily-attired sunbathers, and flashy nightlife. But when it concerns gambling, it’s no dice for South Beach residents and site visitors.

In a long report, the commission cited a few reasons for voting to block futu „Miami Beach Pushes Back Against Casinos, Approves Two Ordinances to Block Gambling“ weiterlesen