Genting Gambles in Florida with Uncertain Results

Genting Gambles in Florida with Uncertain Results

A rendering of 1 portion of the proposed Resorts World Miami Genting casino resort project; the $3 billion project still has not received a sign that is high Florida lawmakers.

They state money speaks, but in Genting Resorts World’s case, it’s not been speaking as loudly as the ongoing 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. So they’ve now decided for a new, less cumbersome direction for the Sunshine State: a slots-only project that would set them up with Gulfstream Park racetrack in Miami’s Key Biscayne area.

Antagonists Await

Of course, anytime a potential brand new casino operator appears in a state, first thing that happens is some type of anti-gaming coalition forms; and Florida has been no exclusion compared to that guideline. Anti-casino group is also releasing a movie mid-January called Pushing Luck that claims to show a ‘sobering glimpse’ of ‘broken promises’ from casino operators.
According to Genting’s new partner Gulfstream, the racetrack holds an as-yet-unused gaming license that gets the prospect of use with in either Miami-Dade or Broward counties, as the track rests just between the 2 areas. Gulfstream even brought house this point last summer time with a three-horse event that occurred on their property, which occurs to just discuss the Broward county line into Miami-Dade.
But the event may have backfired, as Florida gaming commissioners later filed a complaint contrary to the race track for said event, so the certification issue remains unclear, and unsupported by the powers that will need to accept it. The proposed Genting project would also break precedent, as until now, only Native American tribes have now been able to offer slots without a actual racetrack on the property.
With horse racing still an important factor of Florida’s economy, the brand new pairing created an innovative 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 utilizing the Florida Thoroughbred Horsemen’s Association. FTHA CEO Lonny Powell has even gone so far as to say this makes it a ‘game-changing’ deal, saying ‘this is the partnership that is first the revenue flow and investment would really get back to the horses.’

Two-Hour Tours

Up until now, Genting was providing only ‘cruises to nowhere’ in most cases, thrice-daily sailings between Miami and the business’s Resorts World Bimini casino in the nearby Bahamas, which conveniently rests just 50 miles from the Sunshine State’s shore. 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 would be to cough up $11 million to go 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 had been thrown in the time and evening cruise excursions year that is late last nevertheless, when the U.S. Customs and Border Protection told Genting they certainly were only to use U.S.-based employees on the trips. a legal battle ensued; but Genting ultimately had to concede, as maritime laws and regulations that could affect other Miami-based cruise companies apparently usually do not apply if the ship does not actually dock in a foreign slot and does not need passenger passports, either.
With that choice, Genting scale back on its cruise operations out of Miami, saying they can not manage to make an all-american crew.
And that isn’t all the issues that have plagued the day-trippers either; pier issues in Bimini have actually meant Genting needs to anchor off-shore and then ferry small teams back 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 hurdles and projected losses of $11 million for 2014 Genting is evidently not planning on getting out of the cruise business day. And clearly, regardless of how stormy the seas, they plan to remain the course in Florida, one way or another.

Maine Gambling Enterprises Oppose Expanded Gambling in State

Many people think of Maine like this, but a small casino contingent is trying to hold their own there as well. (Image: Katarina Neef/

We might not agree with them, but we understand there are plenty of reasons that people may oppose more gambling in their state, from moral objections to worries about issue gambling. However in Maine, gambling is finding an opponent that is unusual the gambling enterprises on their own.

Read Our Lips: No New Casinos

Officials from the two Maine casinos currently in procedure spoke to lawmakers this week and said they shouldn’t approve any expansion of the casino industry within the state. In this instance, it appears that the casinos think that industry in the state is wholly saturated already while others believe they’re simply afraid of a little competition.

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

The absolute most controversial of these is known as LD 1111. It would allow Scarborough Downs to become a ‘racino,’ operating slot machines along with their current horse racing operations. That problem has already been brought to referendum last year, whenever it received only 45 % of the vote statewide.

Factional Battles

According to track owner Sharon Terry, Scarborough Downs is struggling because of the competition it faces from the casinos into the state particularly Oxford Casino, which is just 45 minutes away and opened in 2012 june. And even though Hollywood Casino may away be further, it features a friend racino, letting it offer everything Scarborough Downs can and more.

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

‘The Downs cannot survive under the laws that are current’ Terry said.

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

That helps explain why they also opposed three other bills being considered by their state. Those include a bill that would allow charities to perform up to five slots at their headquarters so that you can raise funds, in addition to 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 will let the Passamaquoddy Tribe apply to run table games and slots at a existing bingo facility.

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

Big Banks Refuse to Process Legal Online Gambling Transactions

Major credit card issuers like Chase, Wells Fargo and American Express will not process online that is even legal gambling, they say. (Image: Jason Hindley/

Every thing seemed therefore hunky dory: Nevada, Delaware and New Jersey all got legal online gambling or at least poker, in Nevada’s situation up and running in 2013, and except for a few problems with geo-location snafus, overall, the web sites in all three states have been running pretty smoothly. Except for starters bug that is fairly major has nothing in connection 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 sites, legal or otherwise not.

Your Transaction Has Been Denied

Whether credit or debit, several heavy-hitter credit card providers say they aren’t gambling in terms of honoring their cards on online video gaming sites. And demonstrably, that’s not sitting well with many players who say, just what provides? But the banks included say they’ll not budge, not for online casinos, poker or sports that are even legal in Nevada.

‘We do not allow credit card transactions for this task,’ stated 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 company simply ‘prohibits the use of the card for gambling services.’

While some may conclude that this will be some sort of moral imperative, it turns out that it’s more of a bottom-line that is simple decision than anything else.

‘Gambling services, historically, account for a number that is high of member credit losses and customer service disputes,’ noted Chao.

UIGEA Still Directs Banks’ Positions

And some banks do still hold onto the old UIGEA model (Unlawful Internet Gambling Enforcement Act of 2006), because, after all, from the federal standpoint, it’s still murky just how it’s to be interpreted after having a 2012 reinterpretation of the initial 1961 Wire Act had been handed down from the Supreme Court that opened the doorway to at minimum state-by-state lawful Web gambling.

Wells Fargo spokeswoman Natalie Brown says this will be 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 the use of consumer credit cards for online gambling,’ said Brown, whom is vice president of consumer lending communications with Wells Fargo. ‘The sites (Visa, MasterCard and Express that is american the merchant category codes and block costs that don’t conform to federal regulations.’

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

‘What the industry has done is take a conservative approach or a reaction to the legalization of online gambling,’ said Tobin Prior, CEO of Ultimate Gaming, which 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 customers to locate options.’

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

While legal websites on the internet might wish that banks had been more in their court right now, Caesars WSOP site’s spokesperson Seth Palansky says its what it really is.

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