By on February 28th, 2020 in Slots

Massachusetts Swings Both Ways with Casino Vote

The MGM Springfield is one possible casino coming to Massachusetts in the long run; it got a thumbs up from local voters this week

This previous week saw a good amount of voting happening across Massachusetts, including two key votes on proposed casino tasks within the state. The results had been split, giving both casino proponents and their opponents something to crow about.

Hard Rock Hits the Skids

The larger vote came in the city of West Springfield, where there was a proposal to construct an $800 million rough Rock casino. The casino was expected to be among the competitors that are key the Western Massachusetts casino license.

But that task had been dealt what might be a fatal blow on Tuesday, after the voters of western Springfield decided to reject the plan in a referendum that is public. About 55% of voters here voted against the casino, with 4,165 coming down up against the project versus just 3,413 for this. The loss came as a surprise to many, while the campaign saw supporters of this casino opponents that are drastically outspend.

That rejection narrows the competition for the sole casino license in Western Massachusetts. During the brief moment, it would appear that only two candidates have a chance at that permit: an MGM task in Springfield, and a Mohegan Sun proposal that would be located in Palmer. The Palmer proposition nevertheless needs to be voted on by residents, while the MGM plan was approved by (more…)

Caesars Gets A little Less Stocky with 11 Percent Price Drop

In what’s shown to be its stock plummet that is biggest in nearly a 12 months, Caesars Entertainment Corp’s offerings dropped by 11 % on Tuesday, largely as a result of the trades failing woefully to have rights to partake in its impending Internet divisions’ IPO, it seems. The afternoon ended at $19.91 per share for Caesars, which signified the casino conglomerate’s stock drop that is biggest since November 14, 2012. Ironically, Caesars’ shares have actually increased threefold since then, a real possibility largely associated with its expansion plans vis a vis its online arm, plus a debt that is recent program to alleviate the pain of some the casino company’s $23 billion in redline debt. There may not be enough antacids or Lortabs to cope with this quantity of pain, but they are providing it their best shot.

Divide and Conquer

Caesars which has created several subdivisions and spinoffs in order to reallocate funds more advantageously did not provide Tuesday’s stock investors an attempt at IPO rights towards their new oh-so-creatively named Caesars Acquisition Co., which will be the holding division for both Caesars Interactive Entertainment as well as two land casino properties: their Las Vegas Strip Planet Hollywood hotel and a $400-million Horseshoe that’s going up as we speak in Baltimore, Maryland.
But that does not mean shareholders won’t have a shot at the IPO; those that decide to buy shares down the (more…)

Nyc Casino Voter Referendum Wording Challenged by Attorney

A New York State casino referendum for voters has one attorney questioning the ballot’s wording november

In November, New York voters are scheduled to vote for a referendum that could enable several casino that is new become built through the state. But if one Brooklyn attorney is effective, that referendum shall be halted due to language in the ballot question which he claims violates state legislation.

Referendum Language Questioned

The language in the referendum features a quantity of ‘legislative purposes’ that paint the proposition in an unmistakably positive light. For instance, the concern mentions ‘promoting job growth, increasing aid to schools and allowing local governments to lower property taxes.’ That language was authorized by the State Board of Elections in July.

But now, attorney Eric J. Snyder is contending that the language in the bill violates New York law. In accordance with case filed in the ny State Supreme Court, Snyder alleges that the language violates the continuing State Constitution’s prohibition on the employment of general public profit the aid of ‘private undertakings.’

‘The Constitution is pretty clear that you can’t use general public cash to sway or influence a vote,’ Snyder said.

Snyder isn’t the only one who has had up issues with the language into the referendum. Many government watchdog groups also view it as one-sided, and groups that are religious also noted the language use (more…)