Category: Category 1

South Carolina Casino Legalization Supported by Residents, Georgia Folds on Efforts

The South Carolina casino work to authorize gambling that is commercial now being backed by maybe the most powerful vocals in the state, the voters, being a brand new poll finds that nearly seven in 10 residents supports legalization.

Residents are adopting Southern Carolina casinos, but brand new Republican Governor Henry McMaster, who replaced Nikki Haley after she agreed to become US ambassador towards the United Nations, isn’t expected to get behind gambling.

Conducted by Winthrop University, the poll asked participants if they would support legislation to allow a limited number of casinos within the state beneath the condition that tax revenue generated from gambling be earmarked to pay for roadways and infrastructure. Sixty-eight percent said they would favor this kind of measure, while only 30 % opposed the concern.

Mandating that cash collected from the gambling be useful for roads and infrastructure substantially raises South Carolina casino support. If the tax income would be just directed to Columbia with no spending stipulation, only 54 percent favored legalization, with 42 percent opposed.

‘ That is literally earth shattering,’ State Rep. Todd Rutherford (D-Richland) told The State magazine. ‘What South Carolinians stated in this poll is they are tired of the Republicans searching into their pockets and taking their tax money when there is certainly another alternative.’

Georgia Lottery Beats Casinos’ Hope

Gambling has expanded through the United States over the last decade, specifically in the northeast where casinos have become a lifeline for state governments to welcome new sourced elements of revenue without directly placing a tax hardship on citizens. But within the south that is conservative many jurisdictions have actually stayed away from the ‘sin sector.’

But, Georgia, sc’s instant neighbor to the west, mulled casino legislation this season.

Efforts to bring Atlanta its first commercial casino attracted the attention of major gambling companies including MGM, Wynn Resorts, Golden Nugget, Las Vegas Sands, and Penn National Gaming. In addition attracted the eyes of certain South Carolina lawmakers who worried that lottery revenues might be siphoned away should casinos be within driving distance.

Though it when seemed as if Georgia might actually move forward with a casino bill, this week Senate Bill 79, authored by Peach State Sen. Brandon Beach (R-Alpharetta), died in committee. Beach claims he isn’t discouraged, and plans to ‘double down’ and build support for the bill for 2018.

Slim Chances

The odds of sc casinos being allowed seemed like a shot that is long begin with, and now that Georgia is staying gambling-free, Rutherford has even more convincing to do.

The Republican Party settings both the homely house and Senate, and also the governor’s office with Henry McMaster. Conservatives in South Carolina remain adamantly opposed to adopting gambling, irrespective of this fact that the state desperately requires money to invest in obligations it owes to its government pension program.

Rutherford has routinely pointed his hand during the GOP for leading hawaii into poor health that is fiscal. ‘ If this state was operated like a business, we would have had casinos years ago,’ the politician stated recently.

While congresspersons do not write state laws, it’s worth noting that US Sen. Lindsey Graham (R) represents the Palmetto State in Washington, DC, and his anti-gambling views are certainly well-known home that is back. He was one of the original backers of the Restoration of America’s Wire Act (RAWA), which hoped to overturn a 2011 Department of Justice reinterpretation associated with 1961 measure that banned most forms of non-land-based gaming at the level that is federal.

To date, the bill ( which also gets the support and financial backing of Las Vegas Sands CEO Sheldon Adelson) has largely met with indifference from both homes.

Italian Mob Cleaning Up with Bitcoin Gambling Web Sites, Nation’s Senator Claims

Bitcoin gambling sites have become a preferred method for laundering cash by the Italian Mafia. That’s according to one of this country’s lawmakers, who believes Italy has to take steps that are additional oversee its online casino platforms to be able to crackdown on illegal operations.

The Italian mob is reportedly running Bitcoin gambling sites to launder money in the European nation. (Image: Bitcoin News)

Bitcoin is a decentralized ( maybe not controlled by a bank) anonymous digital currency. Democratic Party Senator Lucrezia Ricchiuti said recently during a Senate Anti-Mafia Commission hearing that Italy must infiltrate Bitcoin gambling companies which can be allegedly associated with the mob. She cited a listing of guidelines proposed by the payment that recommends a total reorganizing of the gaming sector that is public.

Ricchiuti is campaigning to make online gambling offenses come with harsher penalties. She says operators who fail to pay for the appropriate taxes, disregard certification demands, or make use of the web sites for illicit activities should face serious effects, comparable to being charged with domestic terrorism or crime that is international.

‘According to research conducted by the Financial Information Unit (FIU), it will be possible to start a gaming site based on Bitcoin in a short time, running into the absence of controls as well as in complete anonymity,’ Ricchiuti explained, as reported by Press Giochi, an Italian media outlet specialized in gambling. ‘This means there’s more and more of a need to refine methods.’

Value Added

The mafia’s so-called use of operating Bitcoin casinos has turned into a a lot more money-laundering that is attractive in recent months.

After topping $1,000 per Bitcoin in November of 2013, the digital currency’s value plummeted as governments all over the world began curbing its use. Bitcoin was additionally linked to underground unlawful activities, as well as the currency that is preferred usage on black internet marketplaces such as the now-defunct Silk Road.

The cryptocurrency dropped to simply over $200 at one point, but because the fall of 2015, it is been one of the latest assets on planet Earth. This week, the digital coins are each worth nearly $1,200, an all-time high.

Within the US, Bitcoin received a little of great news from Congress earlier this when Representatives Jared Polis (D-Colorado) and David Schweikert (R-Arizona) announced the formation of the Congressional Blockchain Caucus month. The bipartisan committee claims it will work to advance policy surrounding blockchain-oriented technologies and electronic currencies.

Irregular Regulating

It’s approximated that up to 50 percent of all transactions that are bitcoin related to online gambling.

Opponents of Ricchiuti’s efforts say she’s wasting her time trying to curb illegal gambling that is bitcoin. They say the Mob existed long before the digital currency emerged, and won’t be going away any time soon, irrespective of Bitcoin’s fate.

Adequately regulating Bitcoin casinos is a difficult-to-nearly-impossible task, due to the money’s anonymous nature. And whether or not the digital money network were to magically vanish, the following blockchain cryptocurrency is already waiting in the wings.

Ethereum is an online platform that was initially introduced back once again in July of 2015. Ethers, the exchange’s monetary unit, is already up 90 percent in 2017 alone. Behind only Bitcoin, Ethereum could be the second-most popular cryptocurrency in the world. One ether is trading for around $15.75. On 1, 2017, it was just $8.07 january.

Legalizing Gambling for Vietnamese People May Solve Budget Deficit, But Players Must Prove the risk can be afforded by them

It’s a taxing problem, but the frontrunner of Vietnam believes he has a solution towards the budget deficit the national country is facing. Let its citizens in to the nation’s casinos that presently are only available to foreigners.

Locals like these citizens regarding the roads of Ho Chi Minh City (formerly Saigon) may soon be able to gamble in Vietnam casinos, under a plan presented by Prime Minister Nguyen Xuan Phuc. But they might have to prove income that is minimum to enter facilities such as cleopatra slot games for example the Grand-Ho Tram Strip. (Image: antematters)

Prime Minister Nguyen Xuan Phuc has granted two decrees that he stated would bring more cash in to the country and would help fund social programs and infrastructure.

The first would allow their countrymen into casinos beginning in March with a test system at two facilities. Individuals could have to prove they earn at least $440 per which would disqualify many month. The average salary that is annual Vietnam is a paltry $2,200.

The provision that is second make gambling on dog and horse racing legal, aswell as international soccer matches. How that would be regulated is still in the planning stages. One issue which should be addressed is problem gambling and officials want to try to control it.

Lottery Changing Country’s Fortunes

For the year that is last locals have already been buying lottery tickets and stands have been arranged throughout the country.

The idea ended up being first done under famed leader, Ho Chi Minh, whom used a lottery that is public 1961 to fund schools and hospitals, according to Duong Trung Quoc, a parliamentarian and secretary-general of the Vietnam Association of Historical Sciences.

The Southern Lottery Council, which comprises lottery companies in 21 provinces, pulled in very nearly $3 billion this past year, which is up more than 200 per cent from 2007, according to a story in Bloomberg.

Keeping Money at Home

Gambling in Vietnam is extensive, but residents need certainly to travel outside the country to take part in the game at a casino. With this good reason, locales like Macau and Singapore are popular destinations for people utilizing the money traveling.

It is estimated that $800 million is spent overseas on gambling every according to Augustine Ha Ton Vinh, an adviser to the Van Don Special Economic Zone year. That money could be welcomed at home, and may help decrease the shortage that is monetary.

‘They need taxation profits,’ Alexandre Legendre, A hanoi-based partner at Leadco lawyer, told Bloomberg. Their firm suggests international investors regarding the nation’s gambling opportunities and is certain that outside companies could soon have an existence in the region by building their resorts that are own.

‘ The situation that is fiscal of country is under pressure,’ Legendre noted.

Glenn Straub Says TEN Atlantic City Exempt From PILOT Program

Glenn Straub is refusing to cover his share associated with payments in lieu of home fees (PILOT) on grounds that his TEN Atlantic City resort is exempt from this program as it’s maybe not currently a functioning gambling venue.

TEN Atlantic City owner Glenn Straub has returned doing what he does best: arguing with neighborhood leaders. (Image: Dale Gerhard/Press of Atlantic City)

The town’s seven remaining casinos collectively pay $120 million each year in taxes under the current PILOT agreement with Atlantic City. PILOT was created as a method to keep reliable revenue sources visiting the government, and give a wide berth to lengthy appeals from venues arguing their property assessments had been grossly overvalued once the economy crashed.

Straub contends the New Jersey Casino Control Commission (CCC) is blocking his efforts to reopen the former Revel with a third-party licensed operator leasing his gambling floor. Therefore, in his mind’s eye, he should not have to ante up his PILOT share.

‘ As an abandoned building, we want the value of an abandoned building, perhaps not the worth of a casino hotel,’ Straub told the Press of Atlantic City.

PILOT was specifically designed to avoid such disputes, but the Florida-based genuine estate developer is prepared to challenge their state law. It’s the incident that is latest in what’s become a contentious battle between Atlantic City and Straub since he purchased the bankrupt property in 2015 for $82 million.

Pay to Play

Straub is making the situation, and gladly talking because of the media to circulate his narrative, that the state is basically blackmailing him in wanting to convince TEN to pay off a $20 million loan the Casino Reinvestment Development Authority (CRDA) is owed.

The mortgage was given to the revel that is former who utilized the cash for roadwork surrounding the venue. But Revel, which cost $2.4 billion to build but was open for just over two years, never compensated the money straight back.

Straub argues the CRDA and CCC are in cahoots in delaying any gaming approval at TEN. CCC Chairman Matthew Levinson took to your media earlier in the day this thirty days to dispel such assertions.

More ahead that is controversy

Straub has missed multiple opening dates for TEN. The latest was this past Presidents’ when the hotel remained dark despite its owner promising the facility’s reopening with or without gambling day.

Adding some gas to Straub’s already raging fire, the executive he tapped to become TEN’s CEO is rumored become linked up to a federal research. Reports are surfacing out of Connecticut that Robert Landino’s previous employer, Centerplan organizations, is being examined for allegedly failing continually to pay $71 million to contractors that worked on the Dunkin’ Donuts Park.

The Hartford Yard Goats, a minor league baseball team, will occupy the stadium once it’s complete. The city terminated Centerplan after Landino to its contract’s group reportedly failed to help keep the project on schedule and due to price overruns.

Landino told The Hartford Courant that the FBI probe came as a complete shock, and said there had been no criminal behavior inside the organization. ‘There was nothing that was ever done inappropriately or having a hint of unethical behavior,’ Landino declared.