Ca lawmakers will mull several state bills that could affect both land and online gambling efforts this year (Image: Michael Macor, The Chronicle)
A new California gambling bill approved last week by the State Senate could up taxes and review regulatory procedures on the Golden State’s ever-expanding gaming industry. Introduced by Sen. Leland Yee (D-San Francisco), SB 601 will go under the microscope of a gaming policy advisory committee comprised of both industry executives and members of the general public, with all the goal of determining perhaps the existing regulatory structures that are in place are aiding or abetting California’s current and future financial outlook.
Furthermore, the panel will review the effect of hawaii’s numerous card groups on both state and local tax flows, aswell as on fees to both. Yee stated he’s checking out the possibility that more non-Indian gaming outfits could help improve California’s ever-struggling coffers to be fuller.
‘Despite the news that is good’ve seen in budget projections, I do believe it’s always worth taking a look at new revenue sources for our state,’ noted Yee. Once the committee review is complete, the bill that is new proceed towards the state Assembly for further assessment.
Needless to say, as Newton so wisely noted, for every single action there exists a similar and reaction that is equal and nowhere does that hold truer than on the p Continue reading article →
Hail, Caesars Entertainment: the casino business may or may not be eyeing Atlantic City’s Revel as their newest acquisition
We doubt that the Roman emperor himself kept his name front side and center since well as Caesars Entertainment Corporation does these days. And despite continuing to carry the gaming industry’s heaviest debt load hovering at the $24 billion mark, buying and building new properties does not seem to be always a problem because of this casino conglomerate.
Lately, they have been in talks with Japanese leaders to build a possible new casino in Osaka just as gaming is legalized in Japan, and now the news that is latest, according to some insider reports, is that they will have their eye on Atlantic City’s problem child casino, Revel.
Could Revel Become Next on Their List?
Revel officially went into bankruptcy straight back in March 2013; not even 12 months into its once-gloriously touted entrance onto the Atlantic City land gaming that is beleaguered scene. Now anyone interested in snatching the casino up will have under fourteen days to submit a bid, and according to Bloomberg, Caesars is not a slam dunk because of this purchase; nor is it even 100 % particular they will even make a move to do this.
Other contenders are definitely within the mix; those include Orlando-based Hard Rock Global, who the New York Post month that is last as being in ‘advanced negotiations’ for the purchase. That was follo Continue reading article →