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.
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.
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.