Genting Gambles in Florida with Uncertain Results



A rendering of one portion of the proposed Resorts World Miami Genting casino resort project; the $3 billion project nevertheless has not received a sign that is high Florida lawmakers.

They state money speaks, but in Genting Resorts World’s case, it’s perhaps not been speaking as loudly as the company might like.

The asian gambling conglomerate has largely met with nothing but resistance despite pouring $236 million into a 14-acre waterfront Miami spread back in 2011 and then sprinkling millions more into pressuring state politicians to ‘adapt’ a construction law to accommodate a new $3 billion resorts World Miami casino project. Therefore they’ve now determined on a new, less cumbersome direction for the Sunshine State: a slots-only task that would pair them up with Gulfstream Park racetrack in Miami’s Key Biscayne area.

Antagonists Await

Of course, anytime a potential new casino operator shows up in a state, first thing that happens is some form of anti-gaming coalition forms; and Florida has been no exclusion to that particular guideline. Anti-casino group NoCasino.org is also releasing a movie mid-January called Pushing Luck that claims to show a ‘sobering glimpse’ of ‘broken claims’ from casino operators.
According to Genting’s new partner Gulfstream, the racetrack holds an as-yet-unused video gaming license that gets the prospect of use in either Miami-Dade or Broward counties, as the track rests simply between the two areas. Gulfstream even brought home this aspect summer that is last a three-horse occasion that happened on their property, which happens to just go over the Broward county line into Miami-Dade.
But the event may have backfired, as Florida gaming commissioners later filed a complaint up against the race track for said event, so the certification issue remains unclear, and unsupported by the capabilities that would need to approve it. The proposed Genting project would also break precedent, as so far, only Native American tribes have already been in a position to offer slots without a racetrack that is actual the property.
The new pairing came up with a creative offering to tempt both lawmakers and regulators to bless their new union; Genting and Gulfstream say they would share some of their profits with Florida’s breeders, trainers and owners, an offer that sits mighty well with the Florida Thoroughbred Horsemen’s Association with horse racing still an important aspect of Florida’s economy. FTHA CEO Lonny Powell has even gone so far as to say it makes it a ‘game-changing’ deal, saying ‘this is the first partnership where the revenue flow and investment would actually get back into the horses.’

Two-Hour Tours

Up to now, Genting was providing only ‘cruises to nowhere’ in fact, thrice-daily sailings between Miami and the business’s Resorts World Bimini casino in the nearby Bahamas, which conveniently rests only 50 miles from the Sunshine State’s coast. During the two-hour trips, fast-acting gamblers could play any games they wanted to on board, and that included recreations betting; in exchange for that business possibility, Genting is always to cough up $11 million to get towards fixing up Miami’s ports, plus a yearly $7 million fee that is rental will extend for at least the next a decade.
A wrench was thrown in the day and evening cruise excursions year that is late last nonetheless, whenever the U.S. Customs and Border Protection told Genting these people were only to use U.S.-based employees on the trips. a legal battle ensued; but Genting ultimately had to concede, as maritime rules that would connect with other Miami-based cruise lines apparently never apply once the ship does not actually dock in a foreign port and doesn’t require passenger passports, either.
With that decision, Genting cut back on its cruise operations away from Miami, saying they can’t manage to make an all-american crew.
And that isn’t most of the issues that have actually plagued the day-trippers either; pier issues in Bimini have actually meant Genting has to anchor off-shore and then ferry groups that are small and forth, a reality that not only eats up time and manpower, but has proved to be unpleasant for passengers in inclement weather.
Despite all these obstacles and projected losses of $11 million for 2014 Genting is evidently not thinking about getting away from the day cruise company. And clearly, regardless of how stormy the seas, they plan to keep the course in Florida, some way.

Maine Gambling Enterprises Oppose Expanded Gambling in State

Most people consider Maine like this, but a small casino contingent is trying to hold their own there since well. (Image: Katarina Neef/atpm.com)

We might not agree using them, but we all know there are numerous reasons that people may oppose more gambling in their state, from moral objections to worries about issue gambling. But in Maine, gambling is finding an opponent that is unusual the casinos on their own.

Read Our Lips: No New Casinos

Officials from the two Maine casinos currently in operation spoke to lawmakers this week and said which they shouldn’t approve any expansion of the casino industry into the state. myfreepokies.com In this situation, it would appear that the casinos believe that the market in the state is completely saturated already while others believe they’re simply afraid of a competition that is little.

The two properties under consideration the Hollywood and Oxford Casinos encountered off in front of the Joint Standing Committee on Veterans and Legal Affairs against members of two native tribes that are american the state, plus the owner of the Scarborough Downs race track, over a number of bills that would serve to expand Maine’s gambling options.

Probably the most controversial of those is recognized as LD 1111. It would enable Scarborough Downs to become a ‘racino,’ operating slot machines with their horse that is current racing. That problem has already been brought to referendum last year, when it received only 45 percent of the vote statewide.

Factional Battles

According to track owner Sharon Terry, Scarborough Downs is struggling due to the competition it faces from the casinos into the state particularly Oxford Casino, which will be simply 45 minutes away and opened in June 2012. And while Hollywood Casino may be further away, it has a friend racino, letting it offer everything Scarborough Downs can and more.

Terry says that revenues fell 21.8 percent at her track since slots were allowed at the Bangor race track, and that the problem is getting a whole lot worse since the opening of the Oxford Casino. Since Scarborough Downs accounts for 101 days of racing each year, the cut in revenue not just threatens the track, but additionally Maine’s entire horse racing industry.

‘The Downs cannot endure underneath the current laws,’ Terry said.

However, the general managers of both casinos as well as several companies within the Oxford area disagreed, opposing slots that are allowing the Scarborough Downs facility. In general, the casinos feel that any gambling that is new their state threatens to ‘cannibalize the industry,’ as Maine is a relatively small state without enough gamblers to support more venues.

That helps explain why additionally they opposed three other bills being considered by the state. Those include a bill that would allow charities to run up to five slots at their headquarters to be able to raise funds, also two bills that would allow Indian tribes to expand their gambling operations: one which would let the Houlton Band of Maliseets to operate slots and table games, and another that could let the Passamaquoddy Tribe apply to run table games and slots at a bingo facility that is existing.

‘Should further facilities available or expand, we would see further erosion of our client base,’ said John Osborne, general manager of the Hollywood Casino.

Big Banks Refuse to Process Legal Online Gambling Transactions

Major bank card issuers like Chase, Wells Fargo and American Express won’t process online that is even legal gambling, they state. (Image: Jason Hindley/money.cnn.com)

Every thing seemed therefore hunky dory: Nevada, Delaware and brand New Jersey all got legal online gambling or at least poker, in Nevada’s case up and running in 2013, and except for a few problems with geo-location snafus, overall, the sites in all three states have been running pretty smoothly. Except for one bug that is fairly major has nothing at all to do with the sites on their own: major monetary organizations like United states Express, Wells Fargo and J.P. Morgan Chase are refusing to process any cash interactions on these web sites, legal or otherwise not.

Your Transaction Is Denied

Whether credit or debit, several card that is heavy-hitter say they are not gambling with regards to honoring their cards on online gaming sites. And clearly, that’s not sitting well with many players whom say, what gives? But the banks included say they will not budge, not for online casinos, poker or also legal recreations betting in Nevada.

‘We do not let credit card transactions for this activity,’ said Steve O’Halloran, manager of public relations and affairs that are public Chase Card and Merchant Services. And American Express spokeswoman Sanette Chao concurs, saying her business simply ‘prohibits the use of the card for gambling services.’

While some may conclude that this is certainly some kind of moral imperative, it works out that it’s more of a simple bottom-line business decision than anything else.

‘Gambling services, historically, account for a lot of card member credit losses and customer service disputes,’ noted Chao.

UIGEA Still Directs Banks’ Positions

And some banking institutions do still hold onto the old UIGEA model (Unlawful Internet Gambling Enforcement Act of 2006), because, in the end, from a federal standpoint, it is still murky just how it is to be interpreted after having a 2012 reinterpretation of the first 1961 Wire Act ended up being handed down through the Supreme Court that opened the entranceway to at least state-by-state lawful Internet gambling.

Wells Fargo spokeswoman Natalie Brown claims this is certainly the thinking behind her company’s decision to decline gambling deposits.

‘In compliance with regulation GG (illegal Internet Gambling Enforcement Act of 2006), we prohibit making use of consumer credit cards for Internet gambling,’ said Brown, whom is vice president of consumer financing communications with Wells Fargo. ‘The systems (Visa, MasterCard and Express that is american the vendor category codes and block charges that do not adhere to federal regulations.’

While this may make some sense from their views, it can prove a reality that is frustrating online players in appropriate gambling states.

‘What the industry has done is take a conservative approach or reaction to the legalization of online gambling,’ said Tobin Prior, CEO of Ultimate Gaming, which really is a subsidiary of Station Casinos, a land-gaming proprietor in Nevada and the first to ever go online with legal poker in the Silver State. ‘That can be frustrating, but we work with clients to locate alternatives.’

Certainly one of the benefits of this brick-and-mortar/Internet symbiosis is that customers can both fund and cash out at any of the land video gaming properties, in either Southern Nevada or at Station’s land video gaming partner the Taj Mahal in Atlantic City. Players can also use e-checks or wire transfers to make deposits, Prior noted.

While legal online sites might wish that banks had been more in their court right now, Caesars WSOP site’s spokesperson Seth Palansky claims its what it is.

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