This neck and neck finish at Suffolk Downs Boston-area racetrack is symbolic of how their casino vote is unfolding. (Image source: Boston World)
In the city 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 while the remaining portion of the Sox are busy battling the St. Louis Cardinals for baseball bragging legal rights, 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 for the plan to develop a casino in East Boston are ramping up their efforts getting the vote out in the ultimate times before the November 5th election, as both sides are anticipating a close race that could fall to voter turnout. The casino, which may be placed at Suffolk Downs, is now a hotly debated issue in churches, on street corners, and even among applicants for mayor.
Anti-casino forces feel like they’re seeing some prospective for the noticeable modification by means of the vote though that may be either positive or negative. The exit of Caesars Entertainment as a partner for Suffolk Downs in the casino bid recently has tossed the competition into chaos, since it has confused voters over whether or not they want to support the plan.
That confusion has shown up in the polling of a company known as the close 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 still undecided about whether or not to support the Suffolk Downs bid. Now, that number is into the array of 22 percent to 24 percent every day.
‘Last evening, one precinct went from 22 percent to 37 percent,’ Morales told the Boston Herald. ‘I’m maybe not saying at all that that’s automatically to our benefit. They could easily state they are waiting to see who the partner that is new. The least that may be said is the fact that doubt has definitely been introduced.’
Neck and Neck Towards the Finish Line
According to Morales, his polling shows that about 40 percent are for the casino bid, with another 40 % 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 exact numbers they have, both edges plainly feel the matter was not decided yet and meaning lots of efforts getting voters on their respective sides into the final days before the election.
‘we are doing some door-to-door canvassing, we’re providing rides to the polls and we’ve been supports that are ID’ing the method,’ said Suffolk Downs COO Chip Tuttle. According to Tuttle, hundreds of volunteer casino supporters is going to be canvassing on their behalf within the last week before Election Day, planning to visit thousands of voters and promote the virtues associated with casino plan to them.
Opponents of this casino bid won’t be sitting on the hands, either. They’ve set up a base camp at a neighborhood church, where religious leaders and others in the community are working together to oppose the efforts of Suffolk Downs.
‘It’s really, really easy,’ Morales stated. ‘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)
In a lot of methods, the battle for the northeastern casino market has turned into an arms race involving the states. And this means that after one neighbor unveils a new weapon, it’s only a matter of the time before another answers in sort. That’s why there’s now significant amounts of speculation that the latest round of casino expansion planned for New York could ultimately lead to a brand new casino in North Jersey, as nj-new Jersey continues to keep their shrinking share regarding the regional casino market in that area.
The brand new danger of casinos in ny has not materialized yet and it may never ever take place at all. New Yorkers are going to the polls on Election Day in November to decide whether or not to approve the building of the latest, ‘Las Vegas-style’ casino resorts in upstate New York. But passage appears at least reasonably most likely, which could add yet more regional competition to the mix.
One Upsmanship But Can It Be Performing?
And should more gambling enterprises be added in other states, it is likely that New Jersey would see that being an invitation to include a new casino of their very own. In particular, politicians and industry insiders are imagining the chance of a casino in the Meadowlands, an area in northeast New Jersey that is already the website of the Meadowlands Sports Complex: home to the Meadowlands Racetrack, MetLife Stadium (which houses the New York Jets and the New York Giants), plus the Izod Center, which formerly hosted the brand new Jersey Nets (which have since end up being the Brooklyn Nets) and the New Jersey Devils hockey team.
Have you been still with us?
According to some in North Jersey, the state is losing a good amount of potential revenue by not having a casino in that area of the state. A good amount 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 New Jersey residents than the casinos in their own state.
‘Do you might think folks from northern New Jersey are getting to drive all the way to Atlantic City when they would like to play the slots for the few hours?’ asked Jeffrey Gural, operator for the Meadowlands racetrack. ‘Gas is $4 a gallon. You tell me.’
But while the threat of more regional casinos may end up being the spark that finally pushes the state to you should think about a Meadowlands casino, the idea has been in the works for a whilst. And in reality, the battle that is biggest may be the one between Atlantic City and North Jersey. Many Atlantic City officials fear that the new casino in northern brand New Jersey may be the death knell for the city’s already flailing land video gaming industry.
Atlantic City Revival Still Needs A come to Jesus
The revival of Atlantic City has been a policy that is major for New Jersey Governor Chris Christie, who claims that he doesn’t wish any new casinos to be built outside of the city at minimum until his five-year plan for revitalizing the casino industry there is certainly offered to be able to work. While that effort may not have had quite the results Christie was hoping for so far, losses have actually at least slowed in Atlantic City while the governor’s office says if he had known New York was planning to build new casinos that he would have followed the same plan even.
‘[The plan to create new casinos in brand New York] doesn’t alter that we set out at the beginning of the administration to give Atlantic City the most useful opportunity we can to maintain or grow our existence in the competitive casino market,’ said Michael Drewniak, a spokesman for the governor.
LAND CASINO SATURATION IN THE USA:
Across the United States, gaming analysts warn that the brick-and-mortar casino industry is nearing its saturation point. In early 2013, Alex Bumazhny, a Fitch gaming analyst, told Bloomberg Information that land-based gaming ended up being ‘close’ to this level currently, and University of Nevada, Reno professor Mark Nichols concurred, saying ‘…everybody is pretty much the exact same and everyone is for a passing fancy playing field. 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 even newer gambling enterprises in Illinois and Maryland struggling to meet up with profit goals, it’s hard to argue using this apparent new reality.
Several states are actually looking to burgeoning appropriate and regulated online state-by-state gambling to choose up the slack. The gambling industry as well as state coffers across the country will certainly be waiting and watching to see how this new aspect plays out with Nevada already offering online poker, and Delaware and New Jersey perched to offer full casino games before year’s end.
Las Vegas Sands 3rd Quarter Macau Profits Shine Versus Las Vegas
It is exactly about Macau: Las Vegas Sands Corp.’s 3rd quarter earnings were soaring into the Asian gambling mecca.
Location, location, location: that is what they always say in real-estate. And for nevada Sands Corp., that is proving entirely real, even though, ironically, it’s Macau, not nevada, that’s turning out to be the casino company’s shining star.
‘(Las Vegas Sands) stays 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 growth and cashflow investment tale.’
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 Las Vegas Sands’ college accommodation base should allow [the company] to grow line that is top [cash flows] in excess of the market participants.’
Seems the gaming that is bully in Macau is still growing at a steroidal rate; some analysts anticipate 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 primary Macau video gaming divisions, and an astounding 89 percent bump from the same time frame duration year that is last. With $2.34 billion in net revenues from their Macau properties for the quarter that is third it results in 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 has $2.7 billion earmarked for a new 3,000-room property that has a Parisian theme and a 2015 anticipated opening. That could make five major casinos there ( and just why not when they’re making money hand over fist): the Venetian Macau, Four Seasons Macau, Sands Macau, and the multiple-hotel Sands Cotai Central task, along with the resort that is new planned.
Non-Gambling Profits Also Doing Well
And it’s not just gaming that’s going gangbusters for Sands in Asia; non-gaming revenues are pulling their weight also, according to 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, referring to the trend of mainland Chinese tourists coming to and remaining in Macau. ‘They stay 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 of this infrastructure build-out in greater China that continues to increase Macau’s reach.’
Adelson is going to be the major factor to that much-needed infrastructure, which includes a $10 billion Hong Kong-Macau-Zhuhai Bridge slated to open in 2016. The bridge will greatly reduce the drive time it takes for visitors to reach Macau from China, which, as anyone whom has ever sat in traffic knows, is often a thing that is good.
Sands’ Macau success has analysts chomping to see what the casino company shall do whenever and if Japan legalizes gambling too. Sands president Michael Leven says that Asian country’s $6 billion a huuuge casino reviews 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.