Genting Gambles in Florida with Uncertain Outcomes




A rendering of one portion of the proposed Resorts World Miami Genting casino resort project; the $3 billion project still has not received a high sign from Florida lawmakers.

They say cash talks, but in Genting Resorts World’s case, it’s not been speaking as loudly as the company might like.

Despite pouring $236 million in to a 14-acre waterfront Miami distribute back in 2011 and then sprinkling millions more into pressuring state politicians to ‘adapt’ a construction law to support a new $3 billion Resorts World Miami casino task, the Asian gambling conglomerate has largely met with nothing but resistance. So they’ve now determined for a new, less cumbersome direction for the Sunshine State: a slots-only task that would set them up with Gulfstream Park racetrack in Miami’s Key Biscayne area.

Antagonists Await

Of course, anytime a potential brand new casino operator shows up in a state, the first thing that happens is some form of anti-gaming coalition forms; and Florida has been no exclusion to that particular guideline free online pokies indian dreaming. Anti-casino group NoCasino.org is even releasing a movie mid-January called Pushing Luck that claims to show a ‘sobering glimpse’ of ‘broken claims’ from casino operators.
According to Genting’s new partner Gulfstream, the racetrack holds an as-yet-unused gaming license that has the possibility of use with in either Miami-Dade or Broward counties, as the track rests just between the two areas. Gulfstream also brought house this aspect summer that is last a three-horse occasion that happened on their property, which occurs to just discuss the Broward county line into Miami-Dade.
But the event might have backfired, as Florida gaming commissioners later filed a complaint against the race track for said event, so the certification issue remains not clear, and unsupported by the abilities that would require to approve it. The proposed Genting project would also break precedent, as so far, only Native American tribes have been in a position to offer slots without a real racetrack on the property.
The new pairing came up with a creative offering to tempt both lawmakers and regulators to bless their new union; Genting and Gulfstream say they would share some of their profits with Florida’s breeders, trainers and owners, an offer that sits mighty well with the Florida Thoroughbred Horsemen’s Association with horse racing still an important aspect of Florida’s economy. FTHA CEO Lonny Powell has even gone so far as to say this makes it a ‘game-changing’ deal, saying ‘this is the partnership that is first the income stream and investment would in fact get back to the horses.’

Two-Hour Tours

Up to now, Genting was providing only ‘cruises to nowhere’ in actuality, thrice-daily sailings between Miami and the company’s Resorts World Bimini casino in the nearby Bahamas, which conveniently rests only 50 miles from the Sunshine State’s coastline. During the two-hour trips, fast-acting gamblers could play any games they wanted to on board, and that included sports betting; in exchange for that business possibility, Genting would be to cough up $11 million to get towards fixing up Miami’s ports, plus an annual $7 million fee that is rental will extend for at least the next decade.
A wrench ended up being thrown into the time and evening cruise excursions late a year ago, however, whenever the U.S. Customs and Border Protection told Genting they were only to use U.S.-based workers on the trips. a legal battle ensued; but Genting ultimately had to concede, as maritime laws that will apply to other Miami-based cruise lines apparently don’t apply whenever ship does maybe not actually dock in a foreign slot and doesn’t require passenger passports, either.
With that choice, Genting scale back on its cruise operations out of Miami, saying they can’t pay for to generate an all-american crew.
And that is not all of the issues that have actually plagued the day-trippers either; pier issues in Bimini have meant Genting needs to anchor off-shore and then ferry groups that are small and forth, a reality that do not only eats up time and manpower, but has proved to be unpleasant for passengers in inclement weather.
Despite all these hurdles and projected losses of $11 million for 2014 Genting is evidently not thinking about getting away from the day cruise business. And clearly, irrespective of how stormy the seas, they plan to remain the course in Florida, some way.

Maine Gambling Enterprises Oppose Expanded Gambling in State

Most people think about Maine like this, but a small casino contingent is trying to hold their own there since well. (Image: Katarina Neef/atpm.com)

We possibly may not agree using them, but we all know there are many reasons that individuals may oppose more gambling in their state, from moral objections to concerns about problem gambling. But in Maine, gambling is finding an opponent that is unusual the gambling enterprises on their own.

Read Our Lips: No New Casinos

Officials from the two Maine casinos currently in operation spoke to lawmakers this week and said that they shouldn’t approve any expansion of the casino industry within the state. In this situation, it would appear that the casinos think that the marketplace in the state is totally saturated already while others believe they’re just afraid of a little competition.

The two properties under consideration the Hollywood and Oxford Casinos faced off at the Joint Standing Committee on Veterans and Legal Affairs against members of two Native American tribes in the state, as well as the owner of the Scarborough Downs race track, over a number of bills that would serve to expand Maine’s gambling options.

The most controversial of those is called LD 1111. It might allow Scarborough Downs to become a ‘racino,’ operating slot machines along with their horse that is current racing. That issue was already brought to referendum last year, whenever it received only 45 % of the vote statewide.

Factional Battles

According to track owner Sharon Terry, Scarborough Downs is struggling as a result of competition it faces from the casinos within the state particularly Oxford Casino, which can be just 45 minutes away and opened in 2012 june. And while Hollywood Casino may away be further, it features a friend racino, allowing it to offer everything Scarborough Downs can and more.

Terry says that revenues fell 21.8 % at her track since slots were allowed during the Bangor race track, and that the situation is getting a whole lot worse since the opening of the Oxford Casino. Since Scarborough Downs is in charge of 101 times of racing each year, the cut in revenue not just threatens the track, but also Maine’s whole horse racing industry.

‘The Downs cannot survive beneath the current laws,’ Terry said.

Nevertheless, the general managers of both gambling enterprises as well as several business people within the Oxford area disagreed, opposing slots that are allowing the Scarborough Downs facility. In general, the gambling enterprises feel that any gambling that is new the state threatens to ‘cannibalize the industry,’ as Maine is a relatively small state without enough gamblers to support more venues.

That helps explain why they also opposed three other bills being considered by their state. Those include a bill that would allow charities to run up to five slots at their headquarters to be able to raise funds, along with two bills that would allow Indian tribes to expand their gambling operations: one that would let the Houlton Band of Maliseets to operate slots and table games, and another that would let the Passamaquoddy Tribe apply to run table games and slots at a bingo facility that is existing.

‘Should further facilities open or expand, we would see further erosion of our consumer base,’ said John Osborne, general manager of the Hollywood Casino.

Big Banks Refuse to Process Legal Online Gambling Transactions

Major charge card issuers like Chase, Wells Fargo and United states Express won’t process online that is even legal gambling, they do say. (Image: Jason Hindley/money.cnn.com)

Everything seemed therefore hunky dory: Nevada, Delaware and New Jersey all got legal online gambling or at poker that is least, in Nevada’s case up and running in 2013, and aside from a few dilemmas with geo-location snafus, overall, the web sites in all three states have been running pretty smoothly. Except for just one fairly major bug that has nothing in connection with the sites on their own: major monetary institutions like United states Express, Wells Fargo and J.P. Morgan Chase are refusing to process any money interactions on these sites, legal or not.

Your Transaction Has Been Denied

Whether credit or debit, several heavy-hitter card providers say they are not gambling regarding honoring their cards on Web video gaming web sites. And demonstrably, that’s not sitting well with many players who say, what provides? But the banks involved say they will not budge, not for online casinos, poker or also legal sports betting in Nevada.

‘We do not allow credit card deals for this activity,’ stated Steve O’Halloran, manager of advertising and affairs that are public Chase Card and Merchant Services. And American Express spokeswoman Sanette Chao concurs, saying her business simply ‘prohibits the use of the card for gambling services.’

While some may conclude that this will be some kind of moral imperative, it works out that it’s more of a easy bottom-line business choice than anything else.

‘Gambling services, historically, account for a large number of card user credit losses and customer service disputes,’ noted Chao.

UIGEA Still Directs Banks’ Positions

And some banking institutions do still hold onto the old UIGEA model (illegal online Gambling Enforcement Act of 2006), because, after all, from the federal standpoint, it’s still murky exactly how it’s become interpreted after a 2012 reinterpretation of the first 1961 Wire Act was handed down from the Supreme Court that opened the entranceway to at minimum state-by-state lawful Web gambling.

Wells Fargo spokeswoman Natalie Brown claims this really is the reasoning behind her company’s decision to decline gambling deposits.

‘In compliance with regulation GG (illegal Internet Gambling Enforcement Act of 2006), we prohibit the employment of consumer credit cards for Web gambling,’ said Brown, whom is vice president of customer financing communications with Wells Fargo. ‘The systems (Visa, MasterCard and American Express) monitor the vendor category codes and block charges that do not conform to federal regulations.’

While this may earn some sense from their perspectives, it may prove a irritating truth for online players in legal gambling states.

‘What the industry has done is take an approach that is conservative response to the legalization of online gambling,’ said Tobin Prior, CEO of Ultimate Gaming, which really is a subsidiary of Station Casinos, a land-gaming proprietor in Nevada and the first ever to go online with legal poker into the Silver State. ‘That can be frustrating, but we work with customers discover alternatives.’

Certainly one of some great benefits of this brick-and-mortar/Internet symbiosis is that clients can both fund and cash down at any of their land video gaming properties, in either Southern Nevada or at Station’s land video gaming partner the Taj Mahal in Atlantic City. Players can also use e-checks or wire transfers to make deposits, Prior noted.

While legal online sites might wish that banks had been more in their court right now, Caesars WSOP site’s spokesperson Seth Palansky claims it really is what it is.