We are in Social
19 febbraio





Giuseppe Mastroianni

Despite Scandal, Miss America Receives $4M Subsidy From Atlantic City’s Casino Reinvestment Development Authority

Despite Scandal, Miss America Receives $4M Subsidy From Atlantic City’s Casino Reinvestment Development Authority

Miss America is staying in Atlantic City for at the very least another pageant.

Minus a stint in vegas, skip America has very long called Atlantic City’s Boardwalk Hall its home. That will carry on for the 2019 competition.

The pageant was approved this week for $4.325 million in state funding despite a scandal that shook up the organization in December over derogatory emails sent and received by then-CEO Sam Haskell and two board members regarding former Miss America winners. The New Jersey Casino Reinvestment Development Authority (CRDA) voted unanimously on Tuesday in favor of honoring the last installment associated with the three-year, $12.5 million contract.

Dick Clark Productions was quick to drop the broadcast after the scandal emerged, and NJ Assemblyman Vince Mazzeo (D-Atlantic) called on the CRDA to annul the funds.

‘I understand the CRDA had to fulfill its contractual obligation to the skip America pageant in 2010 and I also respect that,’ Mazzeo told The Press of Atlantic City. ‘However, as this contract ends, we would urge the CRDA leadership to better use the over $4 million on endeavors that will bring a greater return on the investment to Atlantic City.’

The CRDA stated it had been ‘encouraged’ by the leadership change at skip America therefore the 2019 competition’s ‘focus on ladies’ empowerment. in a brief statement’ No date has been set for the pageant.

The skip America Organization board has been overhauled. Seven of the 10 members are now ladies, with former Fox News host and commentator Gretchen Carlson its chair and CEO.

Casino Reinvestment?

Founded in 1984, the Casino Reinvestment Development Authority is just a state agency that gathers taxes from Atlantic City casinos and is to use the funds to buy public and private projects that benefit the town and state.

According to its site, the CRDA ‘uses casino reinvestments as a catalyst for meaningful, positive improvement in the lives of New Jersey residents statewide. In doing so, the CRDA has dramatically and positively changed Atlantic City’s residential, commercial, cultural, and social landscape, while financially supporting quality-of-life improvement efforts.’

How using more than $4 million to support Miss America in Atlantic City lives up to that mission is questioned by some area officials. The 2018 competition telecast on ABC drew simply 5.6 million people, the number that is lowest in five years.

‘The CRDA has to seriously rethink and prioritize how it spends its cash, and it will begin with its subsidy to your Miss America Organization,’ Mazzeo declared in January.

CRDA Funding, Projects

The CRDA has revenue that is several.

Its funding that is primary stream historically been a 1.25 percent tax on gross gaming at Atlantic City casinos. However, during the city’s bankruptcy, those funds had been directed away from the CRDA and instead earmarked to help pay down financial obligation.

The CRDA also puts a $5 per night hotel room tax, and $3 each day fee that is parking. The agency also taxes hotel that is total at nine per cent, alcoholic drinks three percent, and concert tickets nine %.

The CRDA has invested, or as they prefer ‘invested,’ $10.4 million in improvements and renovations of Steel Pier. That features $6.4 million to build A ferris that is 200-foot wheel.

The Atlantic City Gateway Project has also received a $17 million investment from the CRDA. A residential and educational campus of Stockton University, the task is always to open this fall.

Pennsylvania Casinos Set Monthly Record, Join Maryland, Ohio, and Michigan in Posting Brand New Highs

Pennsylvania casinos generated more than $300 million in gross gaming income (GGR) last month, the first amount of time in state history that the threshold is passed.

Slot players waited for machines back 2010 when SugarHouse Casino opened in Philadelphia, but Pennsylvania gambling enterprises never enjoyed a busier month-to-month than March 2018. (Image: Matt Rourke/Associated Press)

The Pennsylvania Gaming Control Board (PGCB) released final figures this week that showed gross table game revenue at $79.54 million in March, and slots accounting for $221.35 million. Combined, GGR for the Keystone State’s 12 casinos was $300,516,011.

That quantity easily eclipses last March’s take by four percent. It tops the previous all-time record monthly high of $296.7 million, that was set in March 2013.

Parx Casino north of Philadelphia led the way with $54.6 million in March revenue, a 10 percent premium in the home’s 2017 March haul.

Sands Bethlehem had been next at $46.7 million, but that represents a 3.3 percent year-over-year reduction. Sands Bethlehem is in the act of being offered to a tribe in Alabama for $1.3 billion.

Rivers Casino was 3rd nevertheless the biggest percentage gain winner. The Pittsburgh casino saw GGR increase 11.1 percent to $33.5 million.

Philly’s two other casinos, SugarHouse and Harrah’s, were next respectively at $28.7 million and $24.7 million.

March Madness

Pennsylvania joins Maryland, Ohio, and Michigan’s Detroit casinos in posting record monthly highs in March.

  • Maryland’s six casinos posted a combined $150 million in GGR, which easily surpassed its previous $141.1 million set that is high March 2017.
  • Ohio’s four land-based gambling enterprises won $81.7 million last thirty days, and the state’s six racinos collected $96.4 million. Both figures are monthly records.
  • Detroit’s three casinos won $138.6 million, a lot more than $3.3 million significantly more than the town’s previous most readily useful GGR mark.

March was unseasonably warm throughout much of the national nation, but in addition damp. Casinos furthermore benefited from A saturday that is extra in 2018 in comparison to 2017.

In Pennsylvania, March was among the snowiest periods associated with the 2017-18 winter, especially in central and eastern portions of the state. But temperatures that are warm the times surrounding the snowfall didn’t keep residents housebound long.

No Satellite Bids

Nine of Pennsylvania’s 12 casinos published monthly gains in March. Into the coming years, they are able to face extra competition when the so-called ‘mini-casinos’ begin popping up.

Under the state’s expanded gaming act signed into legislation last year by Governor Tom Wolf (D), as many as 10 satellite video gaming venues can be built, with up to 750 slot machines and 30 table games each.

On the PGCB didn’t receive any bids for the venues wednesday. Five earlier auctions awarded Category 4 satellite licenses, with Penn National Gaming securing two for the 15-mile radiuses that are regional.

Headquartered in Wyomissing, Pennsylvania, Penn National was against the gaming expansion, but said it is securing the satellite locales to be able to protect its Hollywood Casino close to the Harrisburg state capital in Grantville.

Unwilling to raise taxes, the General that is GOP-controlled Assembly behind gambling to be able to help bridge a state money gap.

The legislation authorizes internet gambling and daily fantasy sports, airport terminal gaming lounges, slot machines inside certain truck stops, and creates a regulatory framework for sports betting along with the mini-casinos.

Elaine Wynn Vows Board Shake Up at Wynn Resorts, Expect Heads to Roll

Wynn Resorts’ biggest shareholder, Elaine Wynn ,wants an immediate shake up of this board that once backed a resolution, led by her ex-husband, Steve Wynn, to oust her.

Elaine Wynn says she thinks the Wynn Resorts board requires to be ‘reconstituted instantly’ with new blood that doesn’t have loyalty to either her or her ex-husband, Steve Wynn. (Image: Associated Press)

The day after Ms. Wynn settled a longstanding legal struggle with the business and her previous spouse, she published to your board demanding it reopen the screen for shareholders to schedule new business and nominate new directors.

In a letter filed to the Securities and Exchange Commission on Tuesday, she proposed a 60-day reinstatement of the nomination procedure ‘to enable a completely vetted nomination process to occur’ in time for the company’s forthcoming AGM.

Ms. Wynn said she does perhaps not intend to seek a board position herself but believes sweeping changes to the business framework are needed. She would nominate blood that is fresh was separate of her, the organization, and Steve Wynn in order to ‘restore the company’s reputation,’ she added.

Steve Wynn Procedures Down

I genuinely believe that the company’s governance structure requires to be reformed and that the board of directors needs to be reconstituted,’ she published. ‘This should be done instantly and truly before any material choices are made that could affect the long-term interests associated with shareholders.’

Ms. Wynn became Wynn Resort’s shareholder that is largest, with 9.25 per cent, after her ex-husband sold their equity in the organization last month to protect its gaming licenses from an escalating intimate misconduct scandal. Lawsuits from disgruntled shareholders have been mounting, claiming the board must have known about its chairman that is former and’s so-called behavior but failed in its duty to protect the company.

‘The nominees will be highly respected and, generally in most cases, have significant company that is public,’ wrote Ms. Wynn. ‘They would have the prerequisite expertise and experience to help the company address both its opportunities and challenges. The nominees would help the board conform to current recommendations with respect to diversity and would be chosen with a view to licensing that is applicable.’

Lascia un commento

Calendario Eventi

maggio 2022

lun mar mer gio ven sab dom

minturnocambia tag