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Miami Beach Pushes Back Against Casinos, Approves Two Ordinances to Block Gambling

Miami Beach Pushes Back Against Casinos, Approves Two Ordinances to Block Gambling

Miami Beach will probably make it extremely difficult for a casino to have a foothold in the coastal island city. Late last week in a special conference, the town payment voted unanimously in favor of two ordinances that would ban all future efforts to get gambling into Miami Beach.

Miami Beach won’t be welcoming a casino to its shores any time soon, as new town ordinances will block projects that are gambling moving ahead.

The state senate’s consideration of expanding gambling and authorizing commercial casinos in South Florida has spurred local governments towards taking their own proactive measures though politicians in Tallahassee failed to reach a new gaming compact with the powerful Seminole Tribe during the 2017 legislative calendar.

Miami Beach first voted in early May to discuss adopting new land-use regulations that bar gambling venues within city restrictions. May 13, the payment ratified two ‘future land use element’ chapters that mandate that ‘All casino and gambling operations … are hereby prohibited in virtually any land use category in the populous City of Miami Beach.’

No Miami (Beach) Vice

Miami Beach is famed for the Art Deco roads, scantily-attired sunbathers, and flashy nightlife. But when it concerns gambling, it’s no dice for South Beach residents and site visitors.

The commission cited several reasons for voting to block future gambling projects from taking hold Læs videre Miami Beach Pushes Back Against Casinos, Approves Two Ordinances to Block Gambling

Distressed SLS Las Vegas, Former Sahara, Sold to Reno Resort Owner

Distressed SLS Las Vegas, Former Sahara, Sold to Reno Resort Owner

SLS Las Vegas was sending out SOS signals from the time it underwent a $415 million renovation less than 36 months ago. The previous famed Sahara Hotel and Casino had been turned into a sleek and resort that is modern’s abbreviated moniker stood for ‘Style, deluxe, provider.’

The blob that is happy could be only a little sad after learning SLS Las Vegas has been sold.

It did not work. This week, the Meruelo Group, a California-based holdings company that owns the Grand Sierra Resort and Casino in Reno, announced it absolutely was acquiring SLS Las Vegas for an undisclosed cost from Stockbridge Capital Partners.

‘ This will be a once in a lifetime opportunity to acquire a premier gaming property on the entire world Las that is famous Vegas,’ Meruelo Group Chairman Alex Meruelo said in a statement.

In addition to its Reno casino and future stake in vegas, the independently held Meruelo Group portfolio includes banking and financial services, resort hotels, food establishments, and a Spanish-language television place in Los Angeles.

Storied History Disrupted

SLS was envisioned by Sam Nazarian, whose daddy made the family’s fortune from being an early investor in Qualcomm.

Though Nazarian’s business, SBE Group, had no experience in buying or operating a major resort, it bought the Sahara in 2007, along side Stockbridge, for somewhere between $300 and $400 million.

Roughly five years later on, the resort that host Læs videre Distressed SLS Las Vegas, Former Sahara, Sold to Reno Resort Owner

Colorado Casino Exec Provides Nevada Regulators Perfect Answer on Recreational Pot

Colorado Casino Exec Provides Nevada Regulators Perfect Answer on Recreational Pot

Marijuana isn’t all enjoyable and games in the eyes of the Nevada Gaming Commission. The five-member regulatory panel has publicly warned gaming companies to continue treating the drug as an illegal substance though Nevada voters legalized recreational pot in last fall’s November election.

Nevada gaming officials say any casino within the continuing state that invests in a business related to marijuana is placing their gaming permit in jeopardy.

This week in Las Vegas with the first sales of recreational marijuana in Nevada scheduled to begin July 1, the Gaming Commission reiterated its anti-pot position during a licensing hearing.

Jacobs Entertainment was before the Commission to get authorization to operate the Sands Regency Casino Hotel in Reno. Jacobs purchased the property from Truckee Gaming later last 12 months.

The Gaming Commission unanimously authorized Jacobs’ application, but not before Chairman Tony Alamo asked a representative for the ongoing company based in Golden, Colorado, about its cannabis policies.

‘Marijuana is unlawful federally,’ Jacobs Entertainment Executive VP Stanley Politano answered, according to a study in the Las Vegas Review-Journal. ‘However, we have employees that can legally digest this stuff we treat alcohol so we treat marijuana very similarly to the way. Whenever we have an event, we test for it and, exactly like alcohol, if there’s some problem, they’ll Læs videre Colorado Casino Exec Provides Nevada Regulators Perfect Answer on Recreational Pot

Pennsylvania Casino Tax Deadline Looms, as State Scrambles for Revenue Solution

Pennsylvania Casino Tax Deadline Looms, as State Scrambles for Revenue Solution

The elimination of a casino tax in Pennsylvania is putting hawaii in a bind that is fiscal. Aided by the 2017 session of the General Assembly ending this week, lawmakers must find at least a fast solution to the income woes they have known about since final fall, when the state Supreme Court ruled elements of the present casino tax structure were unconstitutional.

Pennsylvania counties risk losing $120 million from the casino tax that has been declared unconstitutional. Gov. Tom Wolf wants a bill on their desk ASAP to treat budget troubles resulting from the state Supreme Court ruling.

When the state legalized some forms of casino gambling in 2006, they did so using the vow that each casino would pay 2 per cent of gross slot revenues towards the townships where they’re situated.

That share ended up being to encourage communities to welcome casino that is new, and assist offset extra costs connected with having a gambling location inside their backyard. If any casinos did not satisfy a $10 million minimum, however, it had been on them to make up the difference. And that is where the slot machine minimum tax created a nagging problem for the courts.

Courtroom Bust

In 2015, the Mount Airy Casino and Resort within the Poconos protested, when 2 per cent of their slot revenues amounted to no more than $2.8 million, leaving them $7.2 million short.