This neck and neck finish at Suffolk Downs Boston-area racetrack is symbolic of how their casino vote is unfolding. (Image supply: Boston Globe)
In the city of Boston, there’s only one problem keeping city residents up at night these days: can the Red Sox win their third World Series title in 10 years? But while David Ortiz plus the rest of the Sox are busy fighting the St. Louis Cardinals for baseball bragging rights, there’s another battle brewing under the surface plus it could possibly be just as contentious as the obstruction ruling that ended Game 3.
Bugles Playing ‘First Call’
Both supporters and opponents associated with intend to build a casino in East Boston are ramping up their efforts to obtain out the vote in the last days before the November 5th election, as both sides are anticipating a close race that could drop to voter turnout. The casino, which would be placed at Suffolk Downs, is becoming a hotly debated issue in churches, on road corners, and even among candidates for mayor.
Anti-casino forces feel like they’re seeing some potential for the noticeable change by means of the vote though that could be either positive or negative. The exit of Caesars Entertainment as being a partner for Suffolk Downs in the casino bid recently has tossed the competition into chaos, since it has confused voters over whether or maybe not they would like to support the program.
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. Before the news about Caesars departure from the project, about 10 % of residents were nevertheless undecided about whether or not to support the Suffolk Downs bid. Now, that number is into the selection of 22 % 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 advantage. They could easily say they are waiting to see who the brand new partner is. The least that may be said is doubt has definitely been introduced.’
Neck and Neck Towards the line that is finish
Based on Morales, their polling has shown that about 40 percent are for the casino bid, with another 40 per cent opposing it. Suffolk Downs says that they don’t see precisely the same numbers, and they believe undecided voters could be won over by hearing the information on their proposal.
But regardless of the exact numbers they have, both sides clearly feel the issue wasn’t decided yet and meaning a good amount of efforts to get voters on their respective sides within the final days before the election.
‘we are doing some door-to-door canvassing, we’re providing rides to the polls and we have been ID’ing supports along the method,’ said Suffolk Downs COO Chip Tuttle. According to Tuttle, hundreds of volunteer casino supporters are going to be canvassing on their behalf within the last week before Election Day, planning to consult with a large number of voters and promote the virtues for the casino want to them.
Opponents associated with the casino bid won’t be sitting on their hands, either. They’ve set up a base camp at a neighbor hood church, where religious leaders and others within the community will work together to oppose the efforts of Suffolk Downs.
‘It’s really, really simple,’ Morales said. ‘If you love your community, family, your churches, the casino can’t be good for you personally.’
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 ways, the battle for the northeastern casino market has turned into an arms race between the states. And meaning that when one neighbor unveils a brand new tool, it’s just a matter of time before another answers in sort. That’s why there’s now a lot of speculation that the round that is latest of casino expansion planned for nyc could ultimately lead to a fresh casino in North Jersey, as New Jersey continues to keep their shrinking share of this regional casino market in that area.
The brand new risk of gambling enterprises in nyc hasn’t materialized yet and it may never ever take place at all. New Yorkers are likely to the polls on Election Day in November to decide whether or otherwise not to approve the building of new, ‘Las Vegas-style’ casino resorts in upstate New York. But passage seems at least reasonably most likely, which could add yet more competition that is regional the mix.
One Upsmanship But Is It Performing?
And should more gambling enterprises be added in other states, it is most likely that nj-new Jersey would see that being an invitation to include a casino that is new of 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.
Are you currently still with us?
According for some in North Jersey, the state is losing lots of potential revenue by not having a casino in that area of the state. An abundance 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 would imagine individuals from northern nj are going to drive most of the way to Atlantic City when they would like to play the slots for the few hours?’ asked Jeffrey Gural, operator of the Meadowlands racetrack. ‘Gas is $4 a gallon. You tell me.’
But while the danger of more casinos that are regional end up being the spark that finally pushes the state to seriously consider a Meadowlands casino, the idea has been in the works for a while. And in reality, the battle that is biggest could be the one between Atlantic City and North Jersey. Many Atlantic City officials worry that a new casino in northern New Jersey may be the death knell for the city’s already land gaming industry that is flailing.
Atlantic City Revival Still Needs A visited 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 town at minimum until his five-year plan for revitalizing the casino industry there is certainly given to be able to work. While that effort may not have had quite the results Christie was hoping for therefore far, losses have actually at the least slowed in Atlantic City plus the governor’s office says that he would have followed the exact same plan even if he had understood ny was about to build new gambling enterprises.
‘[The plan to build new casinos in brand New York] doesn’t change that we set out at the start of the administration to provide Atlantic City the most readily useful opportunity we can to maintain or grow our presence in the competitive casino market,’ said Michael Drewniak, a spokesman for the governor.
LAND CASINO SATURATION IN THE US:
Across the united states of america, 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 gaming revenues down a whopping 50 percent since neighboring Pennsylvania launched its casino doors in 2006, sufficient reason for also newer gambling enterprises in Illinois and Maryland struggling to meet up profit goals, it’s hard to argue with this specific obvious new reality.
Several states are actually looking to burgeoning appropriate and regulated online state-by-state gambling to pick 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 Las Vegas Sands 3rd Quarter Macau Profits Shine Compared to 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 Las vegas, nevada Sands Corp., that is proving entirely true, even though, ironically, it’s Macau, not Las vegas, nevada, that’s turning out to be the casino company’s shining star.
‘(Las Las Vegas Sands) remains predominantly A china 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 remains the best Asian gaming development and income 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 to like Macau video gaming sector overall, driven by attractive marketwide revenue growth, particularly in the mass gaming segment,’ added JP Morgan video gaming analyst Joe Greff. ‘Las Vegas Sands’ hotel room base should allow [the company] to grow top line and [cash flows] in more than industry participants.’
Seems the bully gaming market 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 also the July September 2013 quarter showed a 43 percent boost in Sands’ four main Macau gaming divisions, and a staggering 89 percent bump from the same time period last 12 months. With $2.34 billion in net revenues from their Macau properties for the 3rd quarter, it adds up to an astonishing 65 per cent of the company’s overall intake of $3.57 billion.
No wonder Sands CEO Sheldon Adelson is pouring more development money into another project here; he’s got $2.7 billion earmarked for a new 3,000-room property that has a Parisian theme and a 2015 anticipated opening. That will make five major casinos there huuuge ( and just why perhaps not once they’re making money hand over fist): the Venetian Macau, Four Seasons Macau, Sands Macau, and the multiple-hotel Sands Cotai Central project, combined with 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 as well, based on Rob Goldstein, the company’s president of global gaming operations.
‘With our room base, that’s a very thing that is positive us,’ Goldstein stated, referring to the trend of mainland Chinese tourists coming to and remaining in Macau. ‘They stay much longer, come from further away and require sleeping rooms. So Sheldon’s (Adelson) 9,000 sleeping rooms in Cotai turned out 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 be the major factor to that much-needed infrastructure, which includes a $10 billion Hong Kong-Macau-Zhuhai Bridge slated to start in 2016. The bridge will greatly lessen the drive time it takes for visitors to reach Macau from China, which, as anyone whom has ever sat in traffic knows, is obviously a thing that is good.
Sands’ Macau success has analysts chomping to see just what the casino company will do whenever and if Japan legalizes gambling aswell. Sands president Michael Leven says that Asian nation’s $6 billion a 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.