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Saturday, April 25, 2015

New Hampshire: Wednesday, April 29th Hearing






The House vote on Senate Bill 133 will be held next Wednesday, April 29. We ask that you reach out to your State Representative and urge them to vote against the bill.
Our message is simple. Don't push the panic button. For 30 years the state has balanced its budget and provided programs and services without resorting to casino gambling.
Any revenue the state may gain from casino gambling will be offset by crime, addiction and other social costs. Is it worth trading services to one group of vulnerable citizens by creating another group of vulnerable citizens?
The bottom line is that for casinos to win, state residents have to lose. Millennium Gaming will be the big winner if the State grants it a Salem casino monopoly and nothing can prevent a future legislature from diverting the promised revenue sharing that was tacked onto the bill as a sweetner.

Once casinos are legalized there is no turning back. No state stops at one.

Your call could make the difference in Wednesday's vote.

Appreciatively,

Steve Duprey and Harold Janeway
For Casino Free NH and the Granite State Coalition Against Expanded Gambling

For more information: casinofreenh.org
Our mailing address is:
Casino Free New Hampshire
2 Eagle Square, Concord, NH, United States
Concord, NH 03301


Thursday, April 23, 2015

Lots of smoke around Steve Wynn’s money


Of the aging Nip 'N Tuck King .....




much can be said....





.....the failure of Corporate Media to ask the right questions, report accurate information has defined this issue....the Gambling Industry now OWNS you!






Lots of smoke around Steve Wynn’s money

Steve Wynn.
Globe file 2014
Steve Wynn.



WHEN YOU follow Steve Wynn’s money, there’s no smoking gun.
Just a lot of smoke.
 
On Oct. 1, 2014, Wynn Resorts — the developer of Wynn’s Everett casino — gave $2 million to the Republican Governors Association. That same day, the RGA contributed $1.1 million to Commonwealth Future, the political action committee that backed then Republican gubernatorial candidate — and now governor — Charlie Baker. The next day, Commonwealth Future allocated $1.1 million to purchase TV ads that attacked Democrat Martha Coakley.

Overall, the RGA spent $11.2 million to help Baker become governor. In December, a few weeks after his election, Baker told a Florida conference of fellow Republican governors: “First of all I want to just thank the RGA for your support in both elections. It made a huge difference in our campaign.”

Meanwhile, the Massachusetts expanded gaming law — Chapter 23K Section 46 — specifically bars any gaming license applicant from making a political contribution that directly or indirectly benefits any public office holder or candidate running for public office.

But speaking of smoke, here’s some more from the Massachusetts gambling commission, which is charged with enforcing the law. It formally granted a license to Wynn on Nov. 6, two days after voters rejected a referendum to ban the casino industry from Massachusetts. But because the commission voted to give Wynn a conditional license on Sept. 16, its members do not consider him “an applicant” at the time of his $2 million contribution to the RGA.

It’s not Wynn’s first show of generosity to that organization. Last August, the Globe reported on a $200,000 contribution the casino mogul made to the RGA in December 2013.
Steve Wynn’s political contributions are part of the backdrop to his effort to build the Everett casino.
Quote Icon
To be clear: The RGA transferred millions to Commonwealth Future. There’s no way to prove the exact dollars Wynn gave to the RGA are the same dollars the RGA contributed to the pro-Baker PAC and were then used to buy attack ads against Baker’s opponent.

The case is circumstantial, something like the one against Aaron Hernandez. It goes up against the RGA’s insistence that it accepts only “unrestricted, unearmarked contributions.” In Wynn’s case, a spokesman said, not one cent was directed to any political action committee connected with the 2014 Massachusetts gubernatorial election.

Still, Wynn’s political contributions are part of the backdrop to his effort to build that Everett casino. They also play out against a sharpening focus on the 1.75 acres of Everett land he plans to purchase from the MBTA as the gateway to his casino.

It’s on hold, for now. Earlier this month, the Baker administration withheld a crucial permit from Wynn Resorts, after a top Baker official said the sale violated state law because it was authorized before the appropriate agency conducted a review of traffic and other environmental issues. With the outcome now in Baker’s hands, the details of that transaction are worth reviewing.

In October 2013, then-transportation secretary Richard Davey put a $30 million value on the MBTA parcel. At the time, site improvements were part of Wynn’s proposal to buy the land.

In August 2014, Wynn offered to buy the land for $6 million and Davey signed off on it.

On September 3, the MBTA put the land out to bid, with a stipulation that Wynn had the right to beat any offer. No one else bid on the property.

Now, as the state waits for Wynn to respond to questions relating to the environmental review, the MBTA land is being held in escrow, a Baker spokesman said. Once Wynn files his response, the public will have 30 days to comment.

So far, Baker is standing up for the public interest in the sale of public land.

But the politics are messy for the new governor. Wynn is represented by ML Strategies, a subsidiary of the law firm Mintz Levin. The president and CEO of ML Strategies is Stephen P. Tocco, a former secretary of economic affairs under former Gov. William F. Weld, who was Baker’s old boss. Weld, a “principal” at ML Strategies, sat beside Wynn when he appeared before the state gaming commission.

Tocco said he didn’t know about Wynn’s $2 million contribution to the RGA.

A Baker spokesman declined comment on it.

Somehow, smoke always makes it harder to see what’s going on.

Joan Vennochi can be reached at vennochi@globe.com. Follow her on Twitter @Joan_Vennochi.
  http://www.bostonglobe.com/opinion/2015/04/22/lots-smoke-around-steve-wynn-money/ywBmdrDkH2CzZcJhccezIM/story.html






...and you fell for it!


Wednesday, April 22, 2015

Mohegan Sun in South Korea because of Gambling Market Saturation







Clark Schultz, SA News Editor

  • Mohegan Sun is lining up an aggressive plan to build the largest casino in South Korea.
  • The complex would be built on property adjacent to the Seoul Incheon Airport and include a hotel and amusement park.
  • Mohegan's interest in South Korea comes after it was shut out of Boston and facing more competition from regional casinos in Pennsylvania, Massachusetts, and New York.
  • It would also be a $1.6B bet in a region where gambling is illegal except for foreign visitors.
  • The government in South Korea will grant a single gaming license sometime this year.
  • The slide in Macau revenue over the last year amid a crackdown from Beijing has increased the focus on new establishing new gambling hotspots in Singapore, Indonesia, and perhaps even Japan.
  • Related stocks: Wynn Macau (OTCPK:WYNMF, OTCPK:WYNMY, WYNN), Sands China (OTCPK:SCHYY, OTCPK:SCHYF, LVS), MGM China (OTCPK:MCHVF, OTCPK:MCHVY, MGM), Melco Crown (NASDAQ:MPEL), Galaxy Entertainment (OTCPK:GXYEF), SJM Holdings (OTCPK:SJMHF, OTCPK:SJMHY).
Read comments




Tuesday, April 21, 2015

Gambling Addict Fleeces Dying Mom




South Shields son stole £52,000 from his dying mother to funding gambling and treats

David Rylance from South Shields, has been jailed for fleecing his mum when she was struck down with Alzheimer's



David Rylance, jailed for fleecing his dying mother
David Rylance, jailed for fleecing his dying mother
A thieving son fleeced his dying mother out of more than £50,000 and blew it on gambling and treats.
David Rylance was appointed to look after the financial affairs of Margaret Rylance when she was struck down with Alzheimer’s.
 
But for four years the 47-year-old helped himself to large amounts of money – even continuing to plunder her estate after her death.
 
A court heard that as well as blowing sums on online bets, he also spent it on a holiday, cinema tickets and itunes vouchers.
 
Now Rylance, never in trouble before, has been jailed for 27 months for the betrayal of trust.
Newcastle Crown Court heard Mrs Rylance had suspected someone was stealing her money but her concerns were dismissed because of her illness.
 
Locking up Rylance, Judge Penny Moreland said: “It’s hard to imagine someone more vulnerable than an elderly lady with Alzheimer’s, unable to protect herself from you accessing her accounts and taking what you wanted.
 
“This was a gross breach of trust.”

Mrs Rylance had been diagnosed with Alzheimer’s in 2009 and her son was appointed to deal with her financial affairs.

But it wasn’t long before he started helping himself to her funds.

Tim Gittins, prosecuting, said: “It was apparent on analysis of the accounts that there were regular transfers of money to the defendant’s own account that were then gambled with, mainly with online gambling agencies.

“From time to time he made transfers back, having won money gambling.

“However over the period until 2013, only a proportion of the money taken was returned, leaving in respect of those transfers a deficit of £28,500.”

The court heard that in addition to transferring money into his account, Rylance also gambled online directly from his mother’s account.

In one month alone he bet £8,000 but he had a number of wins and the net loss was just over £2,000.
Mr Gittins said; “There were also payments to third parties, including for a holiday, cinema tickets, and itunes vouchers, just short of £3,000.”
 
In January 2013 Mrs Rylance became so poorly she had to become a full-time resident in a care home.

The court heard that she would have been able to pay fees for the care home but for the fact Rylance had stolen so much. As a result the council had to pay fees of around £13,000.

Mrs Rylance died in July 2013 but her son continued stealing her money for a further month until the account was empty.

Mr Gittins said: “It would seem, despite Mrs Rylance’s death in July 2013, when the balance of her account was just over £1,000, the defendant continued to use the appointee account until September 23, depleting the value to zero following her death.”

In total, Rylance took £39,056 from the account plus a further £13,000 from Lloyds and Virgin bank accounts.
 
Mr Gittins said: “There was obvious distress caused by the defendant’s actions, his sister says in her victim impact statement that she was devastated.
 
“She says it was a physical blow on finding out the truth.
 
“There had been concerns expressed before her death by Mrs Rylance about money going missing and the like and to a certain extent it was put down to her deteriorating condition.

“The sister says her mother and father had very little when they started out and they had built this up by working very hard. They are devastated to find out the money had been spent in the way it had by the defendant.”

The court heard despite the thefts, there was sufficient money in Mrs Rylance’s estate to go to her daughter and other son as their inheritance, as planned.

Rylance, of Oxford Street, South Shields, admitted theft and fraud and was jailed for 27 months.

Vic Laffey, defending, said: “He expresses appropriate shame and remorse for what has happened.

“He has no previous convictions, has worked hard all his life but was in the grip of quite significant financial problems and had a debilitating gambling addiction.

“He tried to get himself out of a hole but all he achieved was to dig himself further in.”
http://www.chroniclelive.co.uk/news/north-east-news/south-shields-son-stole-52000-9085157

Gambling Addict Embezzles from Community



VIDEO ON LINK

Judge sentences Wooley to 34 months: 'You never tried to overcome this addiction'

 
POSTED: 05:52 AM EDT Apr 20, 2015
 
 
BERRIEN COUNTY -
A Berrien County circuit court judge sentenced a former Berrien County commissioner to 34 months in prison on embezzlement charges Monday.
Robert Wooley pled guilty to taking more than $317,000 from the North Berrien Senior Center, where he served as director. He also admitted to taking thousands more from the local fire department, for which he was treasurer.
The 34-month sentence is for his 2014 charge involving the Senior Center; he will pay $317,129.83 in restitution. Wooley was also sentenced to 120 days in the Berrien County jail for the 2015 attempted embezzlement charge involving the local fire department. That restitution will be decided at a later hearing. Both sentences are to be served concurrently, at the same time.
Wooley says he forged checks to line his own pockets. He apologized in court, pleading for a short sentence, saying he'll work to pay back the money he took.
"I don't have a lot of good working years in me, probably," Wooley told Judge Sterling Schrock.
Wooley's lawyer Andrew Burch also asked the judge for leniency, saying Wooley's crime a "significant human failing with good intent." Wooley had good intentions to win back the money for the center, Burch said.
Burch added Wooley is in a "tragic" situation, and that he is a victim himself in this case because he suffers from a gambling addiction.
But Donna Sieber, a member of the Senior Center board for 15 years, told the judge the real victims are the local senior citizens: "Sly, cunning, sneaky Mr. Wooley kept on playing his game," Sieber said in court.
Sieber said she even remembers discussing an embezzlement incident involving another person in another town. At the time, Wooley agreed that the person needed to be punished. The board later learned Wooley was embezzling money at the time of that discussion.
"I cried, I was hurt," Sieber said. "I couldn't believe it. And I didn't know how much it was."
Wooley also pleaded guilty to violating the terms of his bond Monday. He admitted to the judge he had left state boundaries to gamble at Blue Chip Casino in Michigan City on at least four separate occasions: Feb. 2, March 5, 12 and 19.
These visits all happened after Wooley pled guilty to embezzling and was out on bond, says Jennifer Smith, chief assistant prosecutor for Berrien County.
"It kind of showed, perhaps to some people, a lack of remorse for what he had done," Smith said, "and perhaps to some people the severity of his addiction."
Sieber falls more into the first category and is pleased Wooley will serve time in prison.
"I'm glad Judge Schrock gave him some time and behind bars, so he can think about all the nasty things he's done to everybody, and how many people he hurt," Sieber said.
Judge Schrock also recommended that Wooley get treatment for his gambling addiction while in prison.
Wooley has 42 days to file an appeal. His lawyer tells WSBT 22 they have not discussed appealing.



http://www.wsbt.com/news/local/former-berrien-county-commissioner-to-learn-punishment-for-embezzlement/32459246


Monday, April 20, 2015

MGM: MGM Resorts defends itself in investor presentation, No debt deal between Caesars Entertainment and bankers



Food Fight among the Casino Vultures!






Clark Schultz, SA News Editor

  • MGM Resorts (NYSE:MGM) releases an investor presentation in front of its annual meeting scheduled for May 28.
  • The bulk of the material from the company defends the directors being targeted for replacement by Land & Buildings.
  • MGM also claims L&B makes "unsubstantiated" cash flow assumptions in deriving its rosy REIT projections.
  • MGM development schedule update: MGM Cotai (opening Fall 2016), MGM National Harbor (opening 2H 2016), MGM Springfield (opening 2H 2017), also pursuing opportunities in South Korea and Japan.
  • MGM Investor Presentation (.pdf)
Read comments




Clark Schultz, SA News Editor

  • Caesars Entertainment (CZR -14.9%) discloses it was unable to reach an agreement with a group of bank lenders over debt restructuring terms.
  • Talks between one of the company's units and the group of bankers have ceased for the time being.
  • SEC Form 8-K
Read comments
CZR price at time of publication: $10.25. Check CZR price now »

Focus Articles on CZR


 
 
 
 
 

Sunday, April 19, 2015

Editorial: States All In On Gambling






Editorial: States All In On Gambling
News that the New Hampshire Legislature is, yet again, considering a bill that would bring big-time casino gambling to the state raises two concerns. The primary one, of course, is that lawmakers will succumb to the lure of additional revenue this time and open the doors to all the ills that accompany casinos. But we’re also a bit worried about the well-being of the legislators themselves. Might another round of the same debate — it’s been going on for at least a couple of decades now, and the talking points for both sides haven’t changed much — prove to be a mind-numbing, soul-killing experience for lawmakers who are otherwise quite busy deciding which social services and agencies to most underfund?
 
We propose to make a contribution to the mental health of New Hampshire lawmakers in two forms.
 
First, we will refrain from repeating the same points that we’ve been making about why casino gambling would be bad for the state and its residents. But just to help the hardworking representatives in Concord keep things fresh, we suggest that if they feel obliged to again address the matter of gambling, they try something different: How about a debate on shrinking the enterprise?
 
Yes, it’s about as likely as a free-ranging debate about the adequacy and fairness of the state’s revenue base, but it’s not unheard of for a state to entertain the notion of reducing its dependency on gambling revenue — or at least toning it down a bit. According to a recent report from the Pew Charitable Trusts, legislatures in several states have considered measures that would require state lottery commissions to exercise some restraint in their efforts to promote their games.
 
How we got to this point is fairly easy to grasp. It’s indisputable that lottery revenue is pretty easy money for most states. Forty-three states now supplement their revenues by offering games of chance. “Supplement” might be the wrong word. According to the North American Association of State and Provincial Lotteries, if all states’ revenues were thrown into one pot, lotteries sales would now account for more than 10 percent of the money. Some states are finding it difficult to resist the temptation to further lean on lottery sales to boost their budgetary health — not just by offering new games, but also by venturing into new territory such as mobile apps, online sales and even credit card purchases. That has prompted some legislators to propose measures to ban certain gaming platforms or at least to make more resources available for helping problem gamblers.
 
Such measures signal a recognition that while lottery sales may be an easy way for states to raise money, they’re also a bad way. Numerous studies have documented the reverse Robin Hood effect: A disproportionate percentage of players are among those who can least afford to spend the money.
 
That might not be a troubling phenomenon if they were spending only the odd buck here and there for the slim chance of hitting a big payoff. Many are. But, according to the Stop Predatory Gambling organization, more than 70 percent of state lottery money is coming from just 10 percent of the players. In other words, the nominal price of lottery tickets isn’t preventing problem gamblers from buying so many of them that they’re creating real financial problems for themselves and their families.
 
If New Hampshire legislators were to address the question of whether the state ought to dial back on lottery promotion, it would be an interesting debate. According to the North American Association of State and Provincial Lotteries, per capita sales in New Hampshire in fiscal year 2014 amounted to $208 (with total sales at $276 million), compared with the national per capita sales of $250. On the other hand, there are 10 states recording per capita sales below $100. (Vermont, at $163, was not among them.)
 
New Hampshire is not a state that’s shy about capitalizing on people’s vices, so it’s not hard to imagine it following the lead of others by offering online sales or mobile apps. (It’s already possible to sign up for text notifications of jackpots.) Should the state exercise some self-control by pre-emptively banning possible expansion of lottery options or otherwise limiting the amount of money it takes from people who might not be in the best position to squander it? It’s a debate worth having.
 
 
 
 
 
 
 

Saturday, April 18, 2015

Genuflecting to Penn National






Penn National Updates Plans For Massachusetts Slot Parlor

PHILIP MARCELO, Associated Press
3:18 pm, April 17, 2015
 
BOSTON — Massachusetts is inching closer to the official launch of its casino industry, as Penn National Gaming submitted revised plans this week for a slot parlor slated to open in June.
 
The gaming venue, Plainridge Park Casino, is now under construction in Plainville, along the Rhode Island border.
 
Two larger casinos are also in development in Massachusetts: an $800 million MGM resort in Springfield and a $1.7 billion Wynn resort in Everett. Those two facilities are not expected to open until late 2017 at the earliest.
 
Plans for Plainridge Park still call for a gambling floor with 1,250 slot machines but other parts of the $225 project have changed slightly, according to a report submitted to the Massachusetts Gaming Commission.
 
A room for meetings and conferences has been enlarged to accommodate up to 300 people, for example, while the casino food court has been pared back to three operators that will offer burgers, pizzas and coffee and pastries.
 
The update from Penn National also revealed new details about the casino's other amenities, including an entertainment venue with a stage and dance floor and an oyster bar and grille.
 
The Pennsylvania-based company had previously announced the casino would feature a sports bar named after former Boston College and New England Patriots quarterback Doug Flutie.
 
The Gaming Commission found little to object in the revisions. "Everything is looking good," remarked Commission Chairman Stephen Crosby.
 
Plainridge Park is slated to open June 24 at the harness racing track in Plainville, which kicked off a new live racing season on Wednesday.
 
The casino will offer electronic gambling machines but not live casino table games like blackjack and roulette.
 
The state, meanwhile, has been ramping up staff and working to finalize gambling-related regulations as the casino industry is poised to make its first official entry into Massachusetts.
 
The Gaming Commission has hired 12 new agents to provide an around-the-clock presence at the slot parlor while state police are also planning to station officers at the casino, according to a staff report.
 
The commission has also approved the casino's surveillance and security plans, among other things.
 
But other significant steps are still pending, including the development of a unique "play
management" system that would help gamblers limit how much time and cash they spend at slot machines.
 
 
 
 
 
http://touch.courant.com/#section/-1/article/p2p-83324951/
 
 

Operator submits revised plans for Plainville slots parlor

  • Plainridge Park to feature larger conference area, pared back food casino court

  •  
     
     

    Casino cafes aren’t good for local economies







    In the Spotlight: Casino cafes aren’t good for local economies

    By Dave Zickar
    Posted Apr. 17, 2015 at 7:35 PM
    Updated Apr 17, 2015 at 7:41 PM



    Corporations have quietly been opening hundreds of casino cafes in neighborhoods across the state over the past several months. Just 10 corporations are operating 185 cafes already, and they’ve announced plans to open hundreds more.
    The spread of casino cafes is an unintended consequence of the Video Gaming Act that is undermining its intent and integrity. Casino cafes are not taverns or restaurants but gaming businesses. In other states where cafes metastasized, slot income was reportedly more than 90 percent of their annual business.
    These cafes are a threat to the small businesses owners of bars and restaurants and those who run VFWs and American Legion Halls. We are concerned because when customers go to a casino cafe, they aren’t visiting our establishments to buy a meal or a beverage; rather, they’re putting their money into corporate slot machines that ship the revenue out of East Peoria.
    This gaming entertainment is readily available at the more than 4,000 legitimate bars, restaurants, truck stops and fraternal orders licensed in the state. Casino cafes are the lowest form of hospitality business possible. They offer a minimal menu, operate out of a small storefront and have just enough staff to keep the lights on and the slots spinning, sometimes for 20 hours a day.
    While East Peoria makes a nickel of every dollar earned at a cafe, that is offset by the lost economic activity at legitimate neighborhood restaurants and taverns. The economic progress casino cafes claim to generate are an illusion because their gains come at the expense of already established community-based businesses.
    For many small business owners, video gaming has been a welcome source of new revenue. Left unchecked, these cafes will undermine the hospitality industry video gaming was supposed to assist. Towns like Springfield, Rockford and Loves Park have been overrun with dozens of cafes that snatched up valuable real estate. Locally, Emma’s Eatery in Peoria has siphoned over $490,000 out of town and has only been operational for a year. Emma’s is part of a corporate chain that currently has 50 locations and a total slot revenue of $83.7 million. Are these the kind of businesses we want in our town?
    Local mayors need to be given the power to prevent casino cafes from swarming our communities. State Sen. Darin LaHood of Peoria has already filed a bill in Springfield (SB 1794) to give local government more power to work with business owners to create appropriate liquor license and gaming regulations.
    Small businesses need to stand together against the onslaught of corporate casino cafes. We spent decades trying to legalize video gaming for our businesses, and now, just two years later, corporate interests have swept in to open pop-up casino cafes.

    Dave Zickar owns the Brass Key Lounge in East Peoria.



     http://www.pjstar.com/article/20150417/OPINION/150419279/2011/OPINION#OPINION/?Start=1&_suid=1429405081898007247385016021002

    Florida shouldn't repeat the gambling mistakes of other states






    Florida shouldn't repeat the gambling mistakes of other states






    The Sun Sentinel's five-day editorial series on gambling could have introduced some perspective and coherence into the ongoing debate on gambling in Florida. But if there was a comprehensive solution presented, I sure couldn't find it.

    The recurring theme was that more gambling is good gambling even if we already have more than the market can absorb. The editorials backed more gambling for the Seminole Tribe, more gambling for pari-mutuels and more gambling by creation of two mega-casinos in Miami-Dade and Broward counties. The Sun Sentinel's "all of the above" position would hurt Florida's economy, our quality of life and the character of our communities.

    The gambling market is already saturated, as was reported by the Sun Sentinel last year. There are too many casinos too close to each other, without enough customers to go around.

    How does shifting customers from one casino to another create economic benefits? How does taking money from existing businesses like restaurants, hotels, bars and movie theaters and funneling it to an expanded gambling industry help our economy?

    It's happening all over the country. As casino business declines, states that are dependent on gambling revenues frantically approve more and more gambling to cover their losses, and even give giving taxpayer bailouts to keep casinos afloat.

    Atlantic City is just one many examples of casinos going bust.

    The stakes for Florida, and its highly successful family tourism brand, couldn't be more serious. Why would we trade what's working here for what is failing across America?

    Federal law and agreements in place with native tribes mean that the pell-mell addition of new games or new locations could result in an explosion of gambling. The resulting costs in terms of addicted gamblers and the crimes they commit in furtherance of that addiction far outweigh any short-term benefit.

    Florida needs a gambling policy that starts with a recognition that the intent of the Florida Constitution is to require any expansion of gambling to be decided by the people by constitutional amendment.

    John Sowinski is president of No Casinos Inc.


    http://www.sun-sentinel.com/opinion/fl-viewpoint-casinos-20150418-story.html


    The Motley Fool: The Smart Way to Get Rich Off Las Vegas Casinos



    The Smart Way to Get Rich Off Las Vegas Casinos

    Place enough bets in a Las Vegas casino, and it's sure to burn a hole in your pocket. The first rule in Las Vegas is, "The house always wins" and every bet in a casino is tilted in the house's favor.
    That's why the best bet in Las Vegas isn't in the casino at all; it's on the casino itself. That's right, you can own the house and get paid simply for owning a piece of a casino if you know where to place your bets.
    The side of Las Vegas you don't know
    All of that cash flowing through a casino everyday has to go somewhere, and in most Las Vegas casinos, it ends up in the hands of Wall Street or investors around the world who own the casino company's shares.
    Caesars Entertainment (NASDAQ: CZR ) , MGM Resorts (NYSE: MGM ) , Wynn Resorts (NASDAQ: WYNN ) , and Las Vegas Sands (NYSE: LVS ) combined own almost every major resort in Las Vegas, and they generate billions in revenue from casinos, hotel rooms, restaurants, and entertainment. They're also publicly traded on the stock market.
    But like the slot machines and table games in a casino, not all casino companies are created equal. MGM Resorts and Caesars Entertainment lost $150 million and $2.78 billion respectively last year, lowering the odds that you'll ever get your money back. So, when investing in major gaming operators, it's best to stack the odds in your favor with a company that's rolling in cash.

    Wynn Las Vegas is by far the most profitable resort in the city. Image source: Wynn Resorts.
    May the odds be ever in your favor
    While its much larger neighbors in Las Vegas were busy losing money, Wynn Resorts and Las Vegas Sands were busy raking in $732 million and $2.8 billion in profits respectively last year. Not only do they own two of the most profitable resorts in Las Vegas, they are also two of the biggest players in Macau as well -- the Asian market that now generates six times the gaming revenue as the Las Vegas Strip.
    And unlike a slot machine, these two companies pay out on a regular basis. These companies tend to pay shareholders every quarter simply for owning the stock.
    In Wynn Resort's case, the current dividend is $1.50 per share per quarter, and Las Vegas Sands pays $0.65 per share per quarter. For both stocks, the return is 4.6% in cash per year, better than any savings account or treasury bond you can buy today.
    Better odds than betting red
    Unless your name is Phil Ivey, the house has an edge in every bet you make in a Las Vegas casino. But you can still make a bet in Las Vegas that has better odds than betting red at the roulette wheel.
    Wynn Resorts and Las Vegas Sands are both printing money in the casino (not literally) and if you own shares of their stocks, these companies will likely pay you just for owning part of the casino. It's not a guaranteed winning bet that's without risk, but at least the deck is stacked in your favor instead of the house having the edge.
    Owning gaming stocks is really the only smart way to get rich off Las Vegas. So rather than taking a go at keno or trying your hand at blackjack, next time you're in Las Vegas, consider owning the casino as a better betting strategy than any other bet the city can offer. At least the odds will be in your favor, something no table game or slot machine will ever offer you.

    Just How Big Is the Internet of Things?
    We have all heard of the Internet of Things -- but few appreciate just how it could be about to transform our lives and put THE INTERNET TO SHAME. The Economist calls it “transformative” but you’ll probably just call it “how I made my millions”. Fortunately for investors with the foresight to take advantage of this next explosive revolution, a select few companies are poised to experience massive growth when the internet goes dark. Click here to learn about one stock to own before this massive upheaval takes hold.



    Wednesday, April 15, 2015

    Caesars Entertainment to settle anti-money laundering compliance probe


    Caesars, drowning in debt, pursued a Glorified Slot Barn at Suffolk Downs.



    Caesars [formerly Harrah's] was widely embraced and welcomed!








    Clark Schultz, SA News Editor

    • Caesars Entertainment (CZR +4.7%) is near an agreement with the Treasury Department over allegations it broke anti-money laundering regulations.
    • A civil penalty is expected against the company is expected to be levied.
    Read comments
    CZR price at time of publication: $12.26. Check CZR price now »

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    Tuesday, April 14, 2015

    New Bedford, KG Urban, Somerset, Brockton....









    FYI - The ST story has misread the law regarding the referendum window.
    The 60/90 day window runs from the date a request for an election is received by the "governing body" (presumably the city council), not from the date the HCA is signed.
    Thus, there must be at least 60 days advance notice of the election. If the request were made today the election could be no sooner than June 13, which is three weeks after the final RFA-2 applications (including a certified vote) are due.


     
    Thus, NB is out of the running without a waiver or another extension. Ditto Somerset by the way.
     
    MGC will probably allow some latitude, but the last extension was a .3-2 vote and patience is wearing thin. If this runs into a summer vacation election situation and Brockton votes YES MGC could pull the plug.


    KG Urban is a brownfield developer NOT a casino operator.


    No date yet for New Bedford casino vote but council says it's in favor

    City Council passes resolution showing state gaming officials unified support for $650 million waterfront proposal
     
     
     
    By Mike Lawrence
    mlawrence@s-t.com
    Posted Apr. 14, 2015 at 2:01 AM

    NEW BEDFORD — A date for a citywide vote on the $650 million casino and hotel project proposed for New Bedford’s waterfront had not been set or suggested to the New Bedford City Council as of Monday as the clock continued to tick for the developer’s application.
    A vote in the city would have to occur between May 18 and June 17 to comply with state law, which requires a vote be held between 60 and 90 days after a Host Community Agreement is signed. The city signed its agreement with New York-based developer KG Urban Enterprises on March 19.
    “I have heard nothing on the referendum vote,” Council President Brian K. Gomes said Monday, indicating KG Urban had not yet proposed a potential date.
    Activity on the casino front has been in a holding pattern this month, as KG Urban works to secure equity investment for the project ahead of a May 4 deadline set by the Massachusetts Gaming Commission. A KG Urban spokesman could not be reached Monday.
    The council passed several casino-related motions Thursday night in City Hall, though, including a resolution put forward by Gomes to express to the Gaming Commission that the council has unified support for the New Bedford casino project.
    Gomes’ resolution cited the benefits of an estimated $50 million environmental cleanup that KG Urban would be obligated to fund on the project’s site, an abandoned NStar power plant off Route 18 on MacArthur Drive, just southeast of downtown.
    Support for the resolution was unanimous. The City Council also unanimously approved two motions proposed by Councilor-at-large David Alves. One asked KG Urban representatives to appear before the council’s Appointments and Briefings Committee, to outline their plan for the 27-acre project, which also would include a conference center, public marina, $10 million harbor walk, commercial fishing berths, retail and more.
    Alves’ other motion asked KG Urban to work with the council’s Gaming/Casinos Committee to hold “a series of meetings throughout New Bedford, to present and respond to local residents as to the economic benefits of the future casino…and to have developers listen and respond to the concerns of our residents.”
    The casino would bring at least $12.5 million to the city in annual payments from KG Urban, plus a $4.5 million up-front payment and additional tax revenues, should city voters approve the project and should New Bedford win the sole resort casino license the Gaming Commission can allocate in Southeastern Massachusetts.
    Opponents have argued that a casino would hurt downtown businesses, not provide high-paying jobs, escalate personal bankruptcies and drain resources for people already struggling financially.
    Local debate on the proposal is gradually heating up. The New Bedford Chamber of Commerce asked its members in an email Monday to weigh in on the project, so the chamber could best speak on their behalf.
    While the Leadership SouthCoast organization has talked about hosting a public forum, former Standard-Times Associate Publisher and Editor Bob Unger, chairman of Leadership SouthCoast’s board, said Monday that those talks hadn’t yet solidified.




    http://www.southcoasttoday.com/article/20150413/NEWS/150419741

    Monday, April 13, 2015

    Somerset Meeting Tuesday, April 14th







    The reminder below was sent by a friend.

    Please remember that Predatory Gambling effects those within a 50 mile radius.



    We're all neighbors!



             Just a reminder to all my Fall River friends that what happens in Somerset will NOT stay in Somerset. As you all know if Somerset gets a casino Fall River and Swansea will suffer the fall-out repercussions. I don’t need to list them for you. But I write to remind you that the national director of Stop Predatory Gambling, Les Bernal, will speak tomorrow, Tuesday, April 14th at 7 p.m. in The Old Town Hall at 1480 County Street, Somerset (parking lot next door). The press & cable t.v. will be there, and we need to show a large united opposition. So please come join us.





     
     
     
     
     
     
     
     
     
     
     
     
     
     

    Saturday, April 11, 2015

    Five reasons to kill the casino bill




    Five reasons to kill the casino bill

    Published 4:00 pm, Friday, April 10, 2015
     
    It's getting hard to keep up with all the attempts to expand casino-type gambling in Connecticut. Last year, public opposition stopped legislative leaders from putting the gambling game keno in restaurants, bars and convenience stores, and earlier this year a lack of support derailed a proposal by a legislative task force to place video slots in OTB facilities.
     
    Now, the Democratic legislative leadership wants to pass a bill that would allow the Mashantucket Pequot and Mohegan tribes, owners of Foxwoods and Mohegan Sun, respectively, to jointly build three commercial -- not tribal -- satellite casinos in order to fight out-of-state competition.

    The tribes want to open the first "convenience" casino on I-91 between Hartford and the Massachusetts border in an effort to keep Connecticut residents from going to the new $800 million MGM casino being built in Springfield.

    They reportedly hope to open the other two casinos along I-95 and I-84 in Fairfield County to defend against New York's casinos. The Hartford-area casino would be heavily oriented to slot machines, with up to 2,000 slots and 50-75 table games, no entertainment, and limited food and beverages. There are about 5,000 slots and 300 table games at Foxwoods.

    The bill's supporters argue the new casinos would help both the tribes and the state by slowing the decline in gambling revenue and helping to preserve casinos jobs. But the bill is a bad one for Connecticut for five reasons:

    1. The primary economic benefit of Connecticut's casinos has come from their success in drawing over half their combined customers and billions of dollars from other states. These out-of-state customers are the ones who are disappearing because they have new casinos in their own backyard. Building new scaled-down casinos in Connecticut will do nothing to bring them back.

    2. While opening convenience casinos would encourage current Connecticut gamblers to stay in state, it would also encourage them to gamble more and attract thousands of other Connecticut residents to gamble, with a corresponding increase in gambling addiction, debt, bankruptcies, broken families and crime.

    3. There is a growing body of research on the negative effects of casino gambling's spread. According to a recent report by the nonpartisan Institute for American Values, the new local and regional casinos drain wealth from communities, prey on low-income people, weaken nearby businesses, hurt property values and reduce civic participation, family stability and other forms of social capital that are at the heart of a successful society.

    Here in Connecticut, a 2014 study from Western Connecticut State University shows that despite a sharp drop in crime in the state as a whole, the number of violent crimes, including murder, rape, robbery and aggravated assault, increased in nearby towns after Foxwoods and Mohegan Sun opened.

    While the number of thefts declined modestly, the value of property stolen skyrocketed by nearly 40 percent. Interviews with police and judicial officials also indicated increases in prostitution and illicit drug use.

    4. In disregard for Connecticut voters, the bill makes no provision for residents of proposed host towns to vote on whether they want a casino in their community, but simply gives the municipality's legislative body the power to make this far-reaching decision.

    5. Just over a decade ago, Connecticut showed its opposition to more casinos by repealing the charity gaming law that opened the door to our two current Indian casinos, and then mounted a successful effort to keep its other tribes from gaining federal recognition and the right to open casinos.

    Now our governor and congressional delegation are in a battle to stop the federal government from changing regulations that would again create the possibility of more Indian casinos -- and land claims -- in Connecticut. Passage of the new casino bill would make a mockery of the state's argument that it opposes more casinos and would destroy its ability to win that fight.

    More casinos are not an answer to Connecticut's economic problems. Instead of encouraging our citizens to gamble away their savings, we need to attract productive, living-wage jobs, promote stable revenue streams and end the runaway spending that's put the state so deeply in debt.

    Robert Steele, of Essex, was a U.S. representative from eastern Connecticut and is author of "The Curse: Big-Time Gambling's Seduction of a Small New England Town." State Sen. Tony Hwang, R-28, of Fairfield, is an assistant Senate minority leader, representing the towns of Easton, Fairfield, Newtown, Weston and Westport.


    http://www.ctpost.com/opinion/article/Five-reasons-to-kill-the-casino-bill-6192037.php


    If you haven't read the book, I encourage you to do so.