aaron • February 25, 2020 • Comments Off on Suffolk Downs Boston Casino Vote Could Be Picture Finish
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 town of Boston, there’s only one 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 therefore the rest of the Sox are busy battling the St. Louis Cardinals for baseball bragging legal rights, there’s another battle brewing under the surface and it could be just as contentious as the obstruction ruling that ended Game 3.
Both supporters and opponents associated with the plan to build 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 fall to voter turnout. The casino, which may be placed at Suffolk Downs, became a hotly debated issue in churches, on road corners, and also among prospects for mayor.
Anti-casino forces feel they’re seeing some possible for the modification by means of the vote though that may be either good or negative. The exit of Caesars Entertainment being a partner for Suffolk Downs in the casino bid recently has tossed the battle 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 a organization referred to as 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 10 % of residents were nevertheless undecided about whether or not to ever support the Suffolk Downs bid. Now, that number is into the selection 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 immediately to our benefit. They could effortlessly say they are waiting to see whom the brand new partner is. The least that may be said is the fact that uncertainty has definitely been introduced.’
According to Morales, their polling shows that about 40 percent are for the casino bid, with another 40 percent huuuge contact opposing it. Suffolk Downs says that they don’t see exactly the same numbers, and they believe undecided voters are won over by hearing the details of their proposal.
But regardless of the numbers that are exact have, both edges demonstrably feel the problem hasn’t been decided yet and this means an abundance of efforts getting voters on their respective sides within the final days before the election.
‘We’re doing some door-to-door canvassing, we’re offering rides to the polls and we’ve been supports that are ID’ing the way,’ said Suffolk Downs COO Chip Tuttle. According to Tuttle, hundreds of volunteer casino supporters are canvassing on their behalf into the last week before Election Day, planning to consult with thousands of voters and promote the virtues of this casino plan to them.
Opponents regarding the casino bid won’t be sitting on the hands, either. They’ve set up a base camp at a neighbor hood church, where leaders that are religious other people into the community will work together to oppose the efforts of Suffolk Downs.
‘It’s really, really easy,’ Morales said. ‘for you. if you like your community, your family, your churches, the casino can’t be good’
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 which means that when one neighbor unveils a weapon that is new it’s only a matter of the time before another answers in type. That’s why there’s now a great deal of speculation that the round that is latest of casino expansion planned for nyc could ultimately result in a fresh casino in North Jersey, as nj-new Jersey continues to keep their shrinking share regarding the regional casino market in that area.
The threat that is new of in New York has not materialized yet and it may never ever happen at all. New Yorkers are likely to the polls on Election in November to decide whether or not to approve the building of new, ‘Las Vegas-style’ casino resorts in upstate New York day. But passage appears at least reasonably likely, which could add yet more local competition to the mix.
And should more gambling enterprises be added in other states, it is likely that nj-new Jersey would see that as an invitation to add a new casino of these very 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.
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According for some in North Jersey, the state is losing a great amount of potential income by not having a casino in that region of the state. A great amount of gamblers, they say, are headed to the Empire Casino in Yonkers, NY or nearby Pennsylvania casinos in Bethlehem therefore the Poconos. These areas are a complete lot far more convenient to access for many nj-new Jersey residents than the casinos in their own state.
‘Do you might think people from northern New Jersey ‘re going to drive all of the way to Atlantic City when they want to play the slots for a few hours?’ asked Jeffrey Gural, operator of this Meadowlands racetrack. ‘Gas is $4 a gallon. I am told by you.’
But while the risk of more casinos that are regional function as the spark that finally pushes the state to you should think about a Meadowlands casino, the concept has experienced the works for the whilst. And in reality, the battle that is biggest could be the one between Atlantic City and North Jersey. Many Atlantic City officials fear that a new casino in northern brand New Jersey will be the death knell for the city’s already land gaming industry that is flailing.
The revival of Atlantic City has been a policy that is major for New Jersey Governor Chris Christie, who claims he does not want any new casinos to be built outside of the town at least until his five-year plan for revitalizing the casino industry there clearly was offered a chance to work. While that effort might not have had quite the results Christie was hoping for so far, losses have actually at the least slowed in Atlantic City and 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 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 US:
Across the United States, gaming analysts warn that the brick-and-mortar casino industry is nearing its 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 video gaming revenues down a whopping 50 percent since neighboring Pennsylvania opened its casino doors in 2006, sufficient reason for even newer casinos in Illinois and Maryland struggling to meet up profit objectives, it’s hard to argue with this particular apparent new reality.
Several states are now looking to burgeoning appropriate and regulated online state-by-state gambling to select the slack up. 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.
It is all about Macau: Las Vegas Sands Corp.’s 3rd quarter earnings were soaring in the Asian gambling mecca.
Location, location, location: that is whatever they always say in real estate. And for Las Vegas Sands Corp., that’s appearing entirely real, even in the event, ironically, it’s Macau, not Las Vegas, that’s turning out to be the casino company’s shining star.
‘(Las Vegas Sands) remains predominantly A asia secular-driven tale,’ noted Macquarie Securities gaming analyst Chad Beynon following the Sands’ third quarter P & L statement. ‘In our view, Las Vegas Sands remains the most useful gaming that is asian and cash flow investment story.’
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 just like the Macau video gaming sector overall, driven by attractive marketwide revenue growth, particularly in the mass gaming segment,’ added JP Morgan gaming analyst Joe Greff. ‘Las Vegas Sands’ college accommodation base should allow [the company] to grow line that is top [cash flows] in excess of industry participants.’
Seems the gaming that is bully in Macau is still growing at a steroidal rate; some analysts expect the end-of-October figures to exceed any single-month revenue 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 duration year that is last. With $2.34 billion in net revenues from their Macau properties for the quarter that is third it adds up to a whopping 65 per cent of the business’s overall intake of $3.57 billion.
No wonder Sands CEO Sheldon Adelson is pouring more development money into another project there; he has $2.7 billion earmarked for a new 3,000-room property that has a Parisian theme and a 2015 expected opening. That will make five major casinos there ( and why perhaps not if they’re making cash hand over fist): the Venetian Macau, Four Seasons Macau, Sands Macau, and the multiple-hotel Sands Cotai Central project, combined with the brand new resort being planned.
And it’s not just gaming that’s going gangbusters for Sands in Asia; non-gaming revenues are pulling their weight aswell, according to Rob Goldstein, the company’s president of global video gaming operations.
‘With our space base, that is a very thing that is positive us,’ Goldstein said, talking about the trend of mainland Chinese tourists coming to and staying 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 influx that is growing of 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 people to reach Macau from China, which, as anyone who has ever sat in traffic knows, is obviously a good thing.
Sands’ Macau success has analysts chomping to see what the casino business shall do whenever and if Japan legalizes gambling also. Sands president Michael Leven says that Asian nation’s $6 billion a 12 months casino market would match what’s happening on the las vegas strip, but macau’s $38 billion take in 2012 are hard to top, specially as those figures are up another 17 percent at the time of end of third quarter 2013.