Meetings & Information




*****************************
****************************************************
MUST READ:
GET THE FACTS!






Showing posts with label Donald Trump. Show all posts
Showing posts with label Donald Trump. Show all posts

Thursday, January 5, 2017

Icahn to surrender Trump Taj Mahal License - Not for Sale




ATLANTIC CITY — Casino gaming might not be returning to the shuttered ... Icahn told the Associated Press that the casino is not for sale right now.



Carl Icahn was not bluffing when he said the Taj would close unless industrial action was halted. The casino was shuttered in the early hours of ...



Billionaire investor Carl Icahn plans to surrender the casino license for his shuttered Trump Taj Mahalcasino and wants to make sure that anyone who ...


ATLANTIC CITY -- Atlantic City's mayor is calling on billionaire investor Carl Icahn to sell the shuttered Trump Taj Mahal casino, saying his struggling ...


New Jersey gambling regulators revealed Tuesday that the casino petitioned the state Division ofGaming Enforcement on Dec. 22 for permission to ...




Monday, January 2, 2017

MOST VEGAS CASINOS IN DEBT, BIG TIME



Magnificent gaudy structures erected for the ultimate 1% SCAM to empty your wallet, your 401K, your employer's funds, rack up credit card debt....




All built on a House Of Cards created by banks that will collapse, leaving taxpayers to pick up the tab.....





MOST VEGAS CASINOS IN DEBT, BIG TIME




Las Vegas Welcome sign
House always wins? While operating a Vegas casino seems like an obvious money maker, the cost of these massive buildings has most of these jackpot makers in the red long-term.
For the last few years, we’ve been reading about casino empires crumbling before our eyes.  In 2012, an article ran in USA Today that the economic downturn had created huge, unpayable debts in Vegas gambling properties.  These debts were incurred in brighter economic times but fell victim to the Great Recession.

One of the conglomerates mentioned in the USA Today article, Caesar’s Entertainment, was able to stall bankruptcy for three more years but finally filed for bankruptcy protection in 2015.
Las Vegas Fountain
Donald Trump learned the hard way how ephemeral big projects can be.  He took over the Taj Mahal Casino in Atlantic City and offered 14% interest on bonds to finance construction.  His company defaulted on its commitments soon after.  In short, a big building project may signify much smoke but little fire.
MGM Resorts International is trying to expand in both the US and Asia.  Although gambling is on the rise in the US, it is not at all certain that Vegas casinos will feel the enough of said growth to forestall bankruptcy.
The Fontainebleau Resort was going to cost 2.7 billion dollars but the Bank of America pulled out in 2014 and left a shell of a building in its wake.
Vegas Casino





It isn’t just the economic downturn that has threatened so many Vegas gambling properties.  Many other jurisdictions have legalized casinos in recent years.  This and online casinos make it difficult for Vegas casinos to bring in the customers they need to realize the profits that will pay off their massive debts.  Competition certainly reigns supreme even in the world of Vegas gambling!


https://www.gamingpost.ca/canadian-casino-news/vegas-casinos-debt-big-time/


Thursday, October 6, 2016

What a Trump win would mean for gaming





IN-DEPTH 5 OCTOBER 2016
What a Trump win would mean for gaming
He’s gone from political outsider to the doorstep of the White House. But does his casino experience make Donald Trump the candidate the gaming industry should be backing for President?
By Gambling Insider
“My life has been about winning. My life has not been about losing,” Donald Trump told TIME Magazine in a 2015 interview. Whatever your stance on the man and his politics, his triumph in making his name synonymous with wealth and success is undeniable. Pinning that name to towering resorts and casinos has no doubt been a factor here. While Trump no longer has control of the casinos which bear his name, and moved to sue in 2014 to remove his name from the properties run by Trump Entertainment Resorts on the basis that they fail to meet agreed upon standards of quality, he has built up a bevy of experience in the industry, opening Trump Plaza and Casino in Atlantic City in 1984. He also teamed up with Mark Lasrey in 2011 to create Poker Ventures LLC, which received a vendor’s license from the New Jersey Division of Gaming Enforcement just after the New Jersey online casino industry launched. 

The stance of the wider Republican Party on online gambling has been clear for some time. 

On the GOP website, under section 6 of the party platform, which is titled in characteristically grandiose fashion as “Renewing American Values”, sits the sub-heading “Making the Internet Family-Friendly”. 

The Republicans are hardly the first group to take the “think of the children” line in their opposition to online gambling, and their platform reads: “We support the prohibition of gambling over the internet and call for the reversal of the Justice Department’s decision distorting the formerly accepted meaning of the Wire Act that could open the door to internet betting.” A limp effort to this end was made in June 2015, with the Restoration of America’s Wire Act, backed by then Republican presidential hopefuls Marco Rubio and Lindsey Graham. It was reintroduced to the Senate to limited fanfare. 

This is an area, however, where Trump may break from the established party line. In 2011, on the subject of legalised online gambling, Trump stated that: “This has to happen because many other countries are doing it, and like usual the US is being left behind.” Governor of New Jersey, Chris Christie, has fought a running battle with the federal government to see sports betting allowed at racetracks and casinos in the state, and endorsed Trump for the presidency in February 2016. 10Bet Marketing Director Ron Zlluf was quoted as saying by Forbes in 2015: “We suspect that Trump is the most likely candidate to be in favour of the proliferation of online gambling in the US. While Chris Christie may take a similar approach, he seems too far out of contention at the moment to be taken seriously.” 

As such, it is far from a stretch to see Trump distancing himself from this aspect of the Republican platform. While he may not actively promote the spread of online gambling, given that denouncement of gambling is a quick and easy way of courting the religious conservative vote, it is probable that Trump, if elected, would not place himself in the way of such developments. 

Indeed, the Republican Party itself has reportedly quietly dropped its backing for an online poker ban. In an email sent to the membership of the Poker Players Alliance (PPA) in late July, PPA Vice President of Player Relations, Rich Muny, relayed the news that a ban on internet poker had been removed from the GOP platform. 

This would, politically speaking, chime far better with Republican preference for small government, even if it might lead to the odd awkward moment around the political water cooler with Las Vegas Sands CEO Sheldon Adelson, who has plunged millions into the Republican Party whilst stating his determination to see online gambling stopped. 

The water is muddied by the position of Mike Pence, running mate to Trump, who contrasts with Trump in having sought to oppose the expansion of gambling at every opportunity afforded to him. 

By way of example, Pence voted for the Unlawful Internet Gambling Prohibition Act, which made it illegal for financial institutions to process online gambling transactions. Furthermore, in 2006, Pence voted for the Restricting Indian Gaming to Homelands of Tribes Act, which failed to pass the House by a vote of 247-171. The Obama administration granted 2.67 land in trust applications a year for Native American casinos, against a rate of 2.37 for all years prior. The stance taken by Pence in this vote underlines that this rate would in all likelihood contract under a Trump administration. 

While Pence is of course junior to Trump, his significant position in a potential Trump administration highlights that such a presidency’s stance on the expansion of online gambling would be far from black and white.




Saturday, October 1, 2016

Trump’s Decades Of Insults Against Native Americans Send Tribal Leaders Toward Clinton



Trump’s Decades Of Insults Against Native Americans Send Tribal Leaders Toward Clinton

For years Donald Trump has questioned the rights of Native American tribes. Now tribal leaders are bracing for the election.

Pablo Martinez Monsivais / AP
President Barack Obama and members of his cabinet welcomed Native American leaders of the 567 federally recognized tribes at the White House Tribal Nations Conference in Washington, DC, this week.
It was the eighth such annual meeting, but especially meaningful in the wake of high-profile protests in Cannon Ball, North Dakota, where more than 300 tribes, led by the Standing Rock Sioux, are fighting to block construction of an oil pipeline that they say threatens the water supply of reservations there.
After feeling largely ignored by previous presidents, tribal leaders have seen the Obama administration enact legislation over a raft of issues important to their communities, including law and order on reservations, violence against women, land ownership, and health care. And earlier this month, as tensions in North Dakota reached a peak, a federal order temporarily halted construction of the pipelinebefore a Washington, DC, district court put a longer-lasting moratorium on the project.
But now tribal leaders are bracing for an incoming president who would make tribal relations less of a priority.
“We’re extremely worried because if Donald Trump gets elected history already shows us that we probably won’t be able to move forward,” Michael “Mic” Isham, chairman of the Lac Courte Oreilles Band of Lake Superior Chippewa Indians, in Wisconsin, told BuzzFeed News. “His comments about tribes and his history with the tribes don’t bode well for us.”
The most recent of Trump’s comments that have antagonized Native Americans was directed at Massachusetts Senator Elizabeth Warren earlier this year: He called her “Pocahontas,” referencing her claims of Cherokee ancestry, which she has struggled to document.
Trump has also questioned tribal sovereignty since the early 1990s, after the Indian Gaming Regulatory Act of 1988 laid down rules by which tribes could open casinos on reservations. Wary of the competition, Trump went on a media offensive, making disparaging remarks about tribal identity, questioning their right to run the casinos, and insinuating that reservations were overrun with criminals.
One comment that particularly rankles Isham dates to 1993, when Trump told a House Natural Resources subcommittee on Indian affairs that the people running tribal casinos “don’t look like Indians to me.” Eight years later, he defended that comment, adding that Indian casinos were “a scam” and that “Indian reservations really have hurt other places, like Las Vegas and like Atlantic City, which pay a lot of tax.”
Pablo Martinez Monsivais / AP
Trump has not spoken publicly about the Standing Rock protests, but an adviser to Trump on energy, Harold Hamm, stands to profit from the Dakota Access Pipeline.
Hillary Clinton’s relationship with tribes has been less fraught, and she has the backing of some prominent leaders, like the vice president of the Navajo Nation, Jonathan Nez. Her campaign has made some vague promises to tribes, including “meaningful consultation with Tribal officials” and an intention to continue the White House Tribal Nations Conference as a formal forum. But she has made no public comment about the protests over the oil pipeline in Standing Rock.
“I think the tribes are looking more favorably towards Hillary,” Leech Lake Chairman Faron Jackson, from Minnesota, told BuzzFeed News.
President Obama hosted the first Tribal Nations Conference in 2009, following a promise he made in 2008 while visiting the Crow Tribe in Montana. The administration launched a number of programs and laws that have addressed long-standing issues on reservations.
For example, the reauthorization of the Violence Against Women Act gave Native American women who were victims of domestic violence or sexual abuse from non-tribal members legal recourse for the first time. And Obama’s Justice Department has settled — to the tune of $3.3 billion — a “majority” of the 100-plus lawsuits from tribes suing the government over mismanaging resources and land held in trust by the Departments of Treasury and Interior.
“As we close out President Obama’s administration it reminds us that there is no guarantee that going forward we will have the same commitment from the next administration,” Brian Cladoosby, president of the National Congress of American Indians, said during a panel discussion.
Nidhi Subbaraman for BuzzFeed News
The conversations skirted some controversial issues, however, such as the Navajo Nation’s lawsuit against the EPA over the Colorado River spill, and the persistent troubles facing federally run hospitals in South Dakota and Nebraska.
Obama said the tribes gathering in North Dakota had succeeded in capturing the world’s attention. “I know that many of you have come together across tribes and across the country to support the community at Standing Rock,” he said. “And together, you’re making your voices heard.”
Secretary Sally Jewell, who leads many tribal programs within the Department of the Interior, told the meeting attendees that they should continue to speak up: “If a president comes in and wants to undo the executive orders of the past president, it’s up to all of you to raise a stink.”



Monday, August 8, 2016

Trump's Presidential Campaign Has Stifled Traffic to His Hotels and Casinos & Trump Taj Mahal Closing







Sunday, August 7, 2016

Massachusetts: Are ya watching? How the Trump Taj Mahal closure could sway casino expansion vote


In order to 'SELL' casino gambling in Massachusetts, UNION WORKERS were transported from Atlantic City to testify on Beacon Hill about the GREAT JOBS OFFERED, GREAT PAY, GREAT BENEFITS, GREAT RETIREMENT, GREAT HEALTH CARE...... 



 Massachusetts Unions bused and paid union members to full auditoriums and hold signs of support. 

Don't count on it!   


The impending closure of Atlantic City's Trump Taj Mahal casino may help bolster the arguments of both sides in a referendum over putting casinos in ...


After managing to remain open as multiple casinos closed up shop along the once iconic Atlantic City boardwalk, Trump Taj Mahal Casino Resort will ...





Atlantic City, once the U.S. East Coast's only casino gambling site, is struggling to pay its bills and has until November to devise a fiscal recovery plan ...



Since he began his run for the White House last summer, the number of people visiting the array of Trump hotels, casinos, and golf courses has been ...



How the Trump Taj Mahal closure could sway casino expansion vote





Posted: Friday, August 5, 2016 1:00 pm




ATLANTIC CITY, N.J. (AP) — The impending closure of Atlantic City's Trump Taj Mahal casino may help bolster the arguments of both sides in a referendum over putting casinos in northern New Jersey.

Proponents say the state is already losing business to casinos in nearby states and needs new ones closer to these customers.
Opponents argue that Atlantic City's casinos are already so fragile that three or more may close when faced with new in-state competition.
Billionaire owner Carl Icahn says he will shut the Trump Taj Mahal down after Labor Day, because it is losing millions of dollars a month. Atlantic City's main casino workers' union has been on strike against the casino since July 1. The closure would leave Atlantic City with seven casinos.
Voters in November will decide whether to add two new casinos near New York City.
"The news of the Taj Mahal closing is tragic, and it just magnifies the importance of defeating this referendum," said Debra DiLorenzo, chairwoman of the No North Jersey Casinos Coalition, which includes Atlantic City-area business and casino interests.
Her group released a study in the spring predicting that three to five Atlantic City casinos could shut down when faced with new in-state competition. That would be on top of the four others that closed in 2014. The group also predicted the loss of 23,000 to 30,000 direct and indirect jobs from these new closings.
Jeff Gural, who operates the Meadowlands Racetrack just outside New York City and wants to build a casino there with Hard Rock International, said the Taj Mahal closing proves the main point of north Jersey casino proponents: That Atlantic City's casino market is crumbling and its former customers are spending their money in other states.
He also cited the $200 million a year that north Jersey casinos would send to Atlantic City to help revitalize it.
"It's so illogical it's just ridiculous, letting all this revenue leave the state," he said. "Not only are we going to help seniors and the state as a whole, which is not doing that great, but we are going to help rebuild Atlantic City."
Sen. Paul Sarlo, who represents the Meadowlands district a few miles from Manhattan, said Atlantic City-area politicians need to "get their heads out of the sand" and stop fighting the prospect of new casinos in New Jersey.
"The pending closure of the Trump Taj Mahal should serve as a wake-up call for Atlantic City officials to take advantage of the benefits of casino expansion," he said. "Expanding New Jersey's gaming sector to North Jersey will provide financial resources so that Atlantic City can invest in economic expansion. The city has the opportunity and the ability to become a destination resort that doesn't rely on casinos alone."
Moody's Investors Service says casinos near the Taj Mahal, including the Tropicana, Bally's and Caesars, could benefit from its closure. But the agency predicted any such gains would be short-lived, citing the expansion of the Sugarhouse Casino 60 miles away in Philadelphia, the expected opening of a second Philadelphia casino by 2018 and the prospect of two new north Jersey casinos.
Donald Trump once owned three Atlantic City casinos, but cut most ties with the city by 2009. The Republican presidential nominee's final stake in Trump Entertainment Resorts was wiped out in bankruptcy court when Icahn took over in March.



Since he began his run for the White House last summer, the number of people visiting the array of Trump hotels, casinos, and golf courses has been ...