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Showing posts with label North East Resorts. Show all posts
Showing posts with label North East Resorts. Show all posts

Sunday, November 6, 2011

Massachusetts: The Greatest Show on Earth!

Ladies and Gentlemen... and children of all ages!

You are invited to a front row seat to watch the unfolding very public corruption brought to you by Governor "Slot Barns," the cherubic faced politician who has been allowed to get away with pathetic performance.





Commitment is easy to pretend. Especially for one who worked for Ameriquest and pens an autobiography that proclaims the importance of SOCIAL JUSTICE.



How dare you question? How dare you oppose?


After all, look at the price Sal DiMasi is paying for his casino opposition. Governor 'Slot Barns' carried that grudge like the petulant child he is.

Here's the Johnny Come Lately of public scandals because he hasn't been doing his job:

“Boiling is the word. It’s an outrage."

Well, Governor, I felt much the same way when it became publicly known that the Trust Funder made a generous profit on Casino stocks as he was testifying in Gardner Auditorium and you failed to request his resignation.


A recent article (Council to huddle with developers on casino) aroused my curiosity about registered lobbyists.

The named 'Gambling Interests' salivating over New Bedford are KG Urban and Foundation Gaming.

KG Urban is registered with the Secretary of State in the category of 'real estate' which makes sense - when we allowed our steel industry to move overseas, KG partnered with Sands to promote Gambling Addiction in Bethlehem, Pennsylvania.

We'll return to KG in a moment.

Foundation Gaming on the other hand is curious.

A quick search:

http://www.businesswire.com/news/home/20110404006805/en/Joseph-L.-Billhimer-Jr.-Joins-MTR-Gaming

Web site - UNDER CONSTRUCTION? You're kidding, right?

http://www.foundationgaminggroup.com/

http://www.casinoman.net/gambling-news/article/foundation-gaming-group-announces-the-successful-completion-of-it.9716.asp#

They're also not registered as lobbyists or as a corporation with the Secretary of State. All very confusing!


Then there's the article below, in its entirety, linking Steve Norton (whose companies have filed for bankruptcy elsewhere solely to re-negotiate terms) to the Foundation Gaming location.

Then there's this gem found here in its entirety in a clear attempt to escape campaign contribution limits:

Democrat Deval L. Patrick, who regularly decries what he calls a "Big Dig culture" on Beacon Hill, collected thousands of dollars in campaign money at a fund-raiser this month hosted by O'Neill and Associates, a firm that lobbies for the Big Dig's project manager.

The breakfast, which raised more than $20,000, took place Oct. 3, hours before Patrick complained at a debate in Springfield about the state's "inward-looking political establishment" and referred to special interests as "people who get to play, no matter who the governor is."

"I bring that outsider perspective," Patrick said at the debate. He has also aired a television ad vowing to clean up the "Big Dig culture" and cited the Big Dig as "an example of what's wrong with Beacon Hill today."
Oh?

Andrew Stern, SEIU leader, and Andy Pavin, KG Urban mouthpiece, disclosed some pricey meals - here.

And then there's a disclaimer about the Big Dig - clearly absent is the Gambling Industry. Hmm.

Here's Andrew Paven, a lobbyist employed by O'Neill and Associates, and who works on behalf of Bechtel/Parsons Brinckerhoff, explaining how supposedly there's no actual conflict of interest at work here.


"We raise money for many candidates," said Andrew Paven, a spokesman for Bechtel/Parsons Brinckerhoff. ``We had a breakfast fund-raiser for [US Representative] Barney Frank today. The contributors are a matter of public record."

Paven said that at Patrick's request, no one associated with the consortium nor any other Big Dig contractor was invited to the Oct. 3 fund-raiser or allowed to contribute. He said that he is the only person at O'Neill and Associates who works with Bechtel/Parsons Brinckerhoff and that he did not attend.

"Nobody who works for any company with any work on the Big Dig was invited," he said. "They're not taking money from the Big Dig, which is why I didn't make a contribution."


Paven quite clearly asserts that he did not make a contribution, beause there would be a conflict of interest if a lobbyist for the Big Dig were to contribute to a candidate who, in his elected capacity, would have oversight responsibilities on that project.

File under: Yeah, no kidding.



Second city casino plan in the works
By Steve Decosta
December 05, 2009

NEW BEDFORD — Through the last 2½ years of economic turmoil and political uncertainty over the expansion of gambling, the city has been flirting with not just one but two potential developers of waterfront casinos.

One plan, for a casino in the Hicks-Logan neighborhood, has been prominently reported almost since it was proposed by Northeast Resorts of East Longmeadow
.[Steve Norton]

The other continues to fly just under the radar. While Mayor Scott W. Lang acknowledged the efforts of a second suitor to build a casino at the site of the old NStar power plant on the city's harbor, he would not identify the developer.

The mayor said the developer is working on acquiring the property, owned by NStar and Sprague Energy. "I think that's one thing they've been spending a lot of time on, the assembly of parcels they would need."

Andy Paven, who identified himself as a contracted spokesman, said KG Urban Enterprises is involved in negotiations for the NStar site, but would not confirm that it is for a casino. "It's a really complicated real estate deal," he said.

KG Urban Enterprises is registered with the secretary of state's office as a foreign limited liability company with offices on 42nd Street in New York City. Its principals are listed as managers Barry M. Gosin and James D. Kuhn, who also are CEO and president, respectively, of Newmark Knight Frank, a New York-based real estate services firm.

A Google search for KG Urban Enterprises produced a site that said only "Web site coming soon."
[At least this reporter conducted a quick google search. For Foundation Gaming Group or Joseph Bilhimer, there is no record of corporate registration, nor is there one in the lobbying section. Who is New Bedford negotiating with? And who is asking?]

Lang said the proposed developers of the NStar site have "been involved in casino development in other parts of the country. They have, in fact, developed a casino in another urban area."

"They've been working on the design and they're close to final drawings. I'd say it's something equal to or exceeds the proposal that's been presented for Hicks-Logan."

That Hicks-Logan proposal, called Revere Landing, would front New Bedford Harbor on 35 acres just south of Interstate 195.

The $1 billion, 2½-story, 230,000-square-foot casino would include 4,000 slot machines and 150 table games.

Flanked by a 600-room hotel tower, it eventually would employ more than 4,000 permanent workers
[don't count on it!], Northeast Resorts has said. [Northeast is/was Steve Norton]

The mayor, who said he has seen drawings of the proposed casino on the NStar site, professed no preference for either location. "I don't at this time," he said. "There's going to have to be an awful lot of vetting of both proposals before I can support either one."

He said he would insist that any casino built in the city "has to be done correctly for an urban area. It has to be melded together with what the city already has."

"If a casino is done right, the city has many attributes that they don't have to replicate," Lang said.
[Mayor, With all due respect, find one community in which it has been 'done right.' That community doesn't exist.]

"We told both developers that we have theaters. They don't need to re-create a theater. We have the Zeiterion Performing Arts Center. We would want them to help us maintain it. We want them to help us with the renovation of the Orpheum Theater. We have the Capital Theater in the North End. They don't have to spend money building new structures. If they come in and replicate what the city already has, that's a net loss. If we work together to renovate or refurbish what we have now, that will benefit the community as well as the developer." [Dream on, Mayor!]

Legislation to allow casino gaming is being developed by the House and Senate leadership, and House Speaker Robert DeLeo has promised a vote on the issue early next year.

A proposal by Gov. Deval Patrick to allow three resort casinos in three different parts of the state was torpedoed last year, but "it appears the leadership is now aligned in a positive way to support gaming," Lang said.

Even if the Legislature agrees to expand gaming, there is no guarantee a casino would be located in New Bedford. "I'm sure there will be a tremendous vetting process not only by the state but by the city," Lang said.
[The City is currently entertaining Foundation, an unidentified group, not registered with the Secretary of State. That's 'vetting'?]

Saturday, January 22, 2011

Centaur, North East, H. Steve Norton, Massachusetts connections

The article at the bottom, addressing Centaur's Indiana bankruptcy, has an interesting history and Massachusetts connections --

H. Steven Norton Resigns from Diamondhead Casino - cbl

By citybizlist Staff

LARGO, Fla. -- Diamondhead Casino Corp. (OTCBB:DHCC) has accepted the resignation of H. Steven Norton from its board of directors, according to an SEC filing.

Norton's letter, which was attached to the filing, indicates that he resigned because the board felt that he had a conflict of interest due to the fact that his son, Mark Norton, is an executive with the CanCan casino project in D'Iberville, Miss.

Diamondhead Casino is developing a casino resort on the Bay of St. Louis in Diamondhead, Miss. Founded in 1988 and headquartered in Largo, Fla., the company owns approximately 404.5 acres of unimproved land to develop the resort.

H. Steve Norton was elected as a director of Diamondhead in 2002. Since 1998, he has served as President and CEO of Norton Management, Inc. Norton also serves as a Director of Centaur, Inc., a privately held company which owns a casino in Central City, Colo. Norton is also a Director of Colorado Casino Resorts, Inc. in Cripple Creek, Colo. and North East Resorts, Inc., a privately held company pursuing gaming in the state of Massachusetts.

As citybizlist reported last week, Diamondhead announced that it had entered into a Letter of Intent with Phoenix Gaming and Entertainment, LLC. In the letter, Phoenix proposes to purchase 25 acres of land for $1 million per acre to be used, in part, for the construction of a casino. Diamondhead has agreed to give Phoenix an additional 15 acres of land to be used for the construction of roadways and right-of-way requirements, greenery, buffering, on-site mitigation and/or the footprint for a possible parking garage.

Diamondhead's stock price closed at $0.95 on December 17.


Potential Churchill Downs-Centaur settlement in the works

LOUISVILLE, Ky. -- Churchill Downs Inc. may be ready to settle its $15 million claim from Centaur, its former minority partner and the current owner of Hoosier Park in Anderson, Ind.

When Churchill sold Hoosier Park in 2007, it was to receive $15 million from Centaur if the track got slot machines within a certain time frame. The slot machine time requirement was met, but Centaur filed for bankruptcy last March.


In a filing Wednesday in U.S. Bankruptcy Court in Delaware, Churchill said it has negotiated “a fair and equitable” settlement with Centaur that has yet to be filed. The filing also stated objections to an already filed Centaur reorganization plan in the event that Churchill’s planned settlement isn’t filed or isn’t approved.


Churchill spokeswoman Julie Koenig Loignon declined comment, citing a company policy not to discuss pending litigation.


Centaur Chairman Rod Ratcliff said in a statement that he was optimistic about a settlement.


“Considering the longstanding relationship with Churchill Downs, I am confident this issue can be resolved amicably,” he said. “While it is disappointing the parties find themselves in this situation, unforeseen circumstances have brought us to this point. Complex and intertwined events beyond the parties’ control have contributed to the situation.”


The unforeseen circumstances include the recession, the company said a subsequent statement seeking elaboration.


In Wednesday’s bankruptcy filing, Churchill repeated arguments made in a Dec. 30 filing that Centaur’s proposed settlement plan would treat Churchill unfairly by giving certain creditors half of what they are owed, with a cap of $650,000. The cap means Churchill would get about 4 percent of its $15 million claim while other creditors in the same settlement class would get the full 50 percent.


Churchill is the largest creditor in that class of debtors, followed by Ames Construction at $1.28 million and Anderson City Utilities at $136,649, according to Churchill’s filing.


Churchill argued in the Dec. 30 filing that the proposed settlement violates the bankruptcy code requirement of equal treatment of debtors. While acknowledging that courts have some leeway in interpreting what is equal, “no court has permitted a disparity of treatment anywhere near the magnitude of that proposed” in the current settlement, Churchill’s objection said.

Separately, Churchill filed suit in U.S. District Court in Indianapolis on Nov. 24 against Ratcliff and two investors, Mike Raisor and R. Michael O’Malley. The three signed a $4 million promissory note, which carried interest of 8.25 percent per year, to Centaur, which ultimately assigned the collection rights to Churchill.


In the district court case, Churchill claims it is now owed $5.07 million. The promissory note contained an additional interest charge of 5 percent a year if payments were more than 10 days late.

Ratcliff said the promissory note is separate from the bankruptcy but that he hoped it could be settled “in tandem with the company’s restructuring.”

At the time of the 2007 sale, Churchill owned 62 percent of Hoosier Park and Centaur owned the rest of the track, which opened as Indiana’s first pari-mutuel racetrack in 1994 after Churchill built it. At the time, Ratcliff was a minority partner.

The track started its slots operation in June 2008 and Centaur borrowed heavily to pay for a $250 million state license fee.

At the time of the bankruptcy filing, Centaur blaming the economy and the license fee for contributing to the company’s situation.