This throat 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 therefore the remaining portion of the Sox are busy battling the St. Louis Cardinals for baseball bragging rights, there’s another battle brewing under the surface plus it could possibly be just as contentious as the obstruction ruling that ended Game 3.
Bugles Playing ‘First Call’
Both supporters and opponents associated with want to develop a casino in East Boston are ramping up their efforts to obtain the vote out in the last days before the November 5th election, as both sides are anticipating a close race that could drop to voter turnout. The casino, which would be placed at Suffolk Downs, became a hotly debated issue in churches, on street corners, and even among applicants for mayor.
Anti-casino forces feel they’re seeing some possible for the noticeable change by means of the vote though that could be either good or negative. The exit of Caesars Entertainment as being a partner for Suffolk Downs in the casino bid recently has tossed 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 project. 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 were still undecided about whether or not to support the Suffolk Downs bid. Now, that number is in the range of 22 percent to 24 percent every day.
‘Last evening, one precinct went from 22 percent to 37 percent,’ Morales told the Boston Herald. ‘I’m perhaps not saying at all that that’s automatically to our benefit. They could effortlessly say they are waiting to see who the brand new partner is. The least that can be said is uncertainty has definitely been introduced.’
Neck and Neck Towards the line that is finish
Based on Morales, his polling indicates that about 40 percent are for the casino bid, with another 40 % 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 information on their proposal.
But aside from the numbers that are exact have, both edges plainly feel the problem hasn’t been decided yet and meaning 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 providing rides to the polls and we’ve been supports that are ID’ing the means,’ said Suffolk Downs COO Chip Tuttle. According to Tuttle, hundreds of volunteer casino supporters are canvassing on their behalf within the last week before Election Day, planning to go to thousands of voters and promote the virtues regarding the casino intend to them.
Opponents associated with casino bid won’t be sitting on their fingers, either. They’ve set up a base camp at a neighbor hood church, where leaders that are religious other people within the community are working together to oppose the efforts of Suffolk Downs.
‘It’s really, really easy,’ Morales said. ‘for you. if you like 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 create? (Image source: WCBS 880)
In a lot of ways, the battle for the northeastern casino market has turned into an arms race between your states. And that means that when one neighbor unveils a new tool, it’s only a matter of time before another answers in kind. That’s why there’s now a great deal of conjecture that the round that is latest of casino expansion planned for nyc could ultimately lead to a unique casino in North Jersey, as nj-new Jersey continues to keep their shrinking share for the regional casino market in that area.
The threat that is new of in nyc has not 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 appears at least reasonably likely, which could add yet more competition that is regional the mix.
One Upsmanship But Can It Be Working?
And should more gambling enterprises be added in other states, it’s likely that nj-new Jersey would see that as an invitation to incorporate a new casino of these 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 lot of potential income by maybe not having a casino in that region of the state. A lot of gamblers, they say, are headed to the Empire Casino in Yonkers, NY or nearby Pennsylvania casinos in Bethlehem and the Poconos. These areas are lot far more convenient to access for many nj-new Jersey residents than the casinos in their own state.
‘Do you might think people from northern nj-new jersey are going to drive most of the way to Atlantic City when they want to play the slots for the few hours?’ asked Jeffrey Gural, operator of this Meadowlands racetrack. ‘Gas is $4 a gallon. I am told by you.’
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 biggest battle could be the one between Atlantic City and North Jersey. Many Atlantic City officials worry 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 Nevertheless Needs A arrived at Jesus
The revival of Atlantic City has been a major policy point for New Jersey Governor Chris Christie, who states he does not want any new casinos to be built outside of the town at least until his five-year plan for revitalizing the casino industry there is certainly offered an opportunity to work. While that effort may not have had quite the results Christie was hoping for therefore far, losings have at least slowed in Atlantic City and also 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 brand New York] doesn’t change 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 USA:
Across the usa, 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 level currently, and University of Nevada, Reno teacher Mark Nichols concurred, saying ‘…everybody is pretty much the exact same and everybody is on the same 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 exposed its casino doors in 2006, and with also newer gambling enterprises in Illinois and Maryland struggling to meet profit goals, it’s hard to argue with this specific apparent new reality.
Several states are now looking to burgeoning appropriate and regulated online state-by-state gambling to select 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 When Compared With Las Vegas
It’s all about Macau: Las Vegas Sands Corp.’s 3rd quarter earnings were soaring in the Asian gambling mecca.
Location, location, location: that is whatever they always say in real-estate. And for nevada Sands Corp., that is proving entirely true, whether or not, ironically, it’s Macau, not Las Vegas, that’s turning out to be the casino company’s shining star.
‘(Las Las Vegas Sands) remains 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 cash flow investment story.’
Macau Carries the Day
Despite a so-so performance from the Sands’ shnazzy Las Vegas Strip properties, the Venetian while the Palazzo, analysts are still gung-ho on Las Las vegas Sands’ overall economic outlook.
‘We continue to like Macau 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’ hotel room base should allow [the company] to grow line that is top [cash flows] in excess of the market participants.’
Seems the bully gaming market in Macau is still growing at a steroidal rate; some analysts expect 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 huuuge withdrawal times in Sands’ four primary Macau video gaming divisions, and an astounding 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 adds up to a whopping 65 percent of the business’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 expected opening. That can make five major casinos there ( and why not if 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 new resort being 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, in accordance with Rob Goldstein, the organization’s president of global video gaming operations.
‘With our space base, that is clearly a very positive thing for us,’ Goldstein stated, talking about 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, adding that the growing influx of tourists to Macau highlights ‘…the importance of the infrastructure build-out in greater China that continues to increase Macau’s reach.’
Adelson will likely be the major factor to that much-needed infrastructure, which includes a $10 billion Hong Kong-Macau-Zhuhai Bridge slated to open in 2016. The bridge will greatly lessen the drive time it takes for people to reach Macau from China, 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 what the casino business shall do whenever 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.