This throat 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 single issue 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 rest of the Sox are busy battling the St. Louis Cardinals for baseball bragging liberties, there’s another battle brewing under the surface plus it could 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 to get out the vote in the last times before the November 5th election, as both sides are anticipating a close race that could come down to voter turnout. The casino, which may be placed at Suffolk Downs, is becoming a hotly debated issue in churches, on road corners, and also among candidates for mayor.
Anti-casino forces feel they’re seeing some potential for a noticeable change by means of the vote though which could be either good or negative. The exit of Caesars Entertainment as 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 referred to as 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 ten percent of residents were nevertheless undecided about whether or not to ever support the Suffolk Downs bid. Now, that number is into 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 not saying at all that that’s automatically to our advantage. They could easily say they truly are waiting to see whom the new partner is. The least that can be said is the fact that uncertainty has definitely been introduced.’
Neck and Neck Towards the line that is finish
According to Morales, their polling has shown that about 40 percent are for the casino bid, with another 40 per cent 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 obviously feel the issue hasn’t been decided yet and which means a good amount of efforts to have voters on their respective sides in the final days before the election.
‘we are doing a bit of door-to-door canvassing, we’re offering rides to the polls and we have been supports that are ID’ing the method,’ said Suffolk Downs COO Chip Tuttle. According to Tuttle, hundreds of volunteer casino supporters will be canvassing on their behalf into the last week before Election Day, planning to go to tens of thousands of voters and promote the virtues associated with casino intend to them.
Opponents regarding the casino bid won’t be sitting on the fingers, either. They’ve set up a base camp at a neighbor hood church, where leaders that are religious other people in the community will work together to oppose the efforts of Suffolk Downs.
‘It’s really, really easy,’ Morales said. ‘for you. if you love your community, your family, your churches, the casino can’t be good’
Brand 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 this means that after one neighbor unveils a new weapon, it’s only a matter of time before another answers in type. That’s why there’s now a lot of speculation that the latest round of casino expansion planned for New York could ultimately lead to a new casino in North Jersey, as New Jersey continues to keep their shrinking share regarding the regional casino market in that area.
The threat that is new of in nyc has not materialized yet and it may never ever take place at all. New Yorkers are likely to the polls on Election Day in November to decide whether or perhaps not to approve the building of new, ‘Las Vegas-style’ casino resorts in upstate New York. But passage appears at least reasonably likely, which could add yet more regional competition to the mix.
One Upsmanship But Is It Performing?
And should more casinos be added in other states, it’s most likely that nj-new Jersey would see that being an invitation to include 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 lots of possible revenue by perhaps not having a casino in that area of the state. Lots of gamblers, they say, are headed to the Empire Casino in Yonkers, NY or nearby Pennsylvania casinos in Bethlehem and the Poconos. These places are lot more convenient to access for many nj-new Jersey residents than the casinos in their own state.
‘Do you believe folks from northern nj-new jersey are getting to drive all the way to Atlantic City when they would like to play the slots for a few hours?’ asked Jeffrey Gural, operator associated with Meadowlands racetrack. ‘Gas is $4 a gallon. You tell me.’
But while the threat of more casinos that are regional be the spark that finally pushes the state to you should consider a Meadowlands casino, the concept has held it’s place in the works for a while. And in reality, the biggest battle may be the one between Atlantic City and North Jersey. Many Atlantic City officials fear 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 Still Needs A come to Jesus
The revival of Atlantic City has been a major policy point for New Jersey Governor Chris Christie, who states he doesn’t want any new casinos to be built outside of the city at minimum until his five-year plan for revitalizing the casino industry there is provided an opportunity to work. While that effort might not have had quite the results Christie was hoping for so far, losings have at least slowed in Atlantic City while the governor’s office says that he would have followed the same plan even if he had known nyc was about to build new gambling enterprises.
‘[The plan to construct new gambling enterprises in 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 United States, gaming analysts warn that the brick-and-mortar casino industry is nearing its slotsforfun-ca.com 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 gaming revenues down a whopping 50 percent since neighboring Pennsylvania launched 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 obvious reality that is new.
Several states are actually looking to burgeoning appropriate and regulated online state-by-state gambling to pick the slack up. With Nevada already offering online poker, and Delaware and New Jersey perched to offer complete casino games before 12 months’s end, the gambling industry too as state coffers in the united states will certainly be waiting and watching to see how this new aspect plays out.
Las Las Vegas Sands 3rd Quarter Macau Profits Shine In Comparison To Las Vegas
It is exactly about Macau: Las vegas, nevada Sands Corp.’s 3rd quarter earnings were soaring in the Asian gambling mecca.
Location, location, location: that is whatever they always say in property. And for Las Vegas Sands Corp., that is appearing entirely real, regardless if, ironically, it’s Macau, not nevada, that’s turning out to be the casino company’s shining star.
‘(Las Vegas Sands) continues to be 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 continues to be the most readily useful Asian gaming development and cash flow investment story.’
Macau Carries the Day
The Venetian and the Palazzo, analysts are still gung-ho on Las Vegas Sands’ overall financial outlook despite a so-so performance from the Sands’ shnazzy Las Vegas Strip properties.
‘We continue steadily to like the Macau gaming sector overall, driven by attractive marketwide revenue growth, especially in the mass gaming segment,’ added JP Morgan gaming analyst Joe Greff. ‘Las Vegas Sands’ accommodation 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 income records to date. And the July September 2013 quarter showed a 43 percent boost in Sands’ four main Macau gaming divisions, and an astounding 89 percent bump from the same time duration year that is last. With $2.34 billion in net revenues from their Macau properties for the 3rd quarter, it adds up to an impressive 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 here; he’s $2.7 billion earmarked for a brand new 3,000-room property that has a Parisian theme and a 2015 anticipated opening. That can certainly make five major casinos there ( and just why perhaps not if they’re making money hand over fist): the Venetian Macau, Four Seasons Macau, Sands Macau, and the multiple-hotel Sands Cotai Central project, combined with brand 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 also, based on Rob Goldstein, the company’s president of global gaming operations.
‘With our room base, that’s a very thing that is positive us,’ Goldstein said, talking about the trend of mainland Chinese tourists coming to and remaining in Macau. ‘They stay much longer, come from further away and require sleeping rooms. So Sheldon’s (Adelson) 9,000 sleeping rooms in Cotai ended up become a pretty good idea.’
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 will likely be the major contributor to that much-needed infrastructure, with a $10 billion Hong Kong-Macau-Zhuhai Bridge slated to start in 2016. The bridge will greatly reduce the drive time it takes for visitors to reach Macau from Asia, which, as anyone whom has ever sat in traffic knows, is obviously a good thing.
Sands’ Macau success has analysts chomping to see what the casino company will do when and if Japan legalizes gambling aswell. Sands president Michael Leven says that Asian country’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.