First Lady Michelle Obama energized the audience at the Democratic National Convention regarding the shared theme that is common Donald Trump just isn’t fit for the Oval workplace.
Donald Trump spent a quarter-century having companies in Atlantic City. Throughout the length of his campaign, the billionaire Republican Party nominee has repeatedly trumpeted their success into the east coastline gambling mecca.
‘I made serious cash in Atlantic City and left seven years ago, great timing,’ Trump tweeted earlier this thirty days.
After a weeklong Republican National Convention (RNC) that officially made Trump the GOP’s presidential candidate, it is now time for the Democrats to carry their very own love fest. While contention remains between the Bernie Sanders faithful and presumptive nominee Hillary Clinton, one thing most in attendance in Philadelphia during the Democratic National Convention (DNC) can agree on is that Donald Trump isn’t qualified become president.
Their record in Atlantic City is a prime example for Democrats whom argue Trump isn’t looking out for the American people.
‘Trump says he would run our nation like he has run his companies,’ nj-new Jersey Senator Cory Booker stated in delivering a speech that is passionate. ‘ I’m from New Jersey, and we’ve seen the method he leads . . . He got rich while his companies declared numerous bankruptcies.’
Massachusetts Senator Elizabeth Warren echoed Booker by saying, ‘Donald Trump continues, and on, and on, about being fully a businessman that is successful but he filed business bankruptcies . . . Constantly to guard his very own money and stick his investors and contractors with the bill.’
Banking on Bankruptcy
Trump says he is a billionaire that is self-made the political left says he is absolutely nothing however a bully who got rich at the expense of the little people.
So who is to think? In truth, both are right, and both are being fully a dishonest that is little.
Trump hasn’t personally filed for bankruptcy, but businesses he’s owned have.
The first came in 1991 when the Trump Taj Mahal in Atlantic City declared Chapter 11 bankruptcy. The filing was devastating for Trump who was 45-years-old during the time.
He lost half of his stake in the casino, sold his 282-foot yacht dubbed the ‘Trump Princess,’ and shuttered Trump Airlines.
The following year Trump Castle Associates, owners for the Trump Plaza in nyc and Trump Plaza Hotel and Casino and Trump Castle Resort in Atlantic City, also filed for bankruptcy. The estate that is real forfeited 1 / 2 of his stake within the New York Plaza to the banks.
Twelve years later, Trump Hotel & Casino Resorts shed $500 million in debt by turning over bulk control of its Atlantic City properties and its Indiana riverboat to investors.
Finally during 2009, Trump Entertainment Resorts was the straw that is last Trump’s ventures into the gambling sector. He resigned through the business’s board as well as the firm was eventually sold to Carl Icahn in 2016.
He Said, She Said
According to Real Clear Politics, the latest aggregated polls show Trump with a slight lead over Clinton 45.6-44.7.
The revelation this week by WikiLeaks that Democratic National Committee Chair Debbie Wasserman Schultz was actively working against Sanders has brought additional scrutiny towards the ticket that is democratic.
Sanders tried to persuade his backers to help Clinton during his speech last night, and by many reports he succeeded. First Lady Michelle Obama delivered yet another message that is strong also tossed her support behind Clinton.
Three more evenings remain for the Democrats as they try and unite and spread their message towards the American people. Meanwhile, Donald Trump will tweet and appear on as many news programs as possible.
Sheldon Adelson Upbeat on Macau as Mass Market Gamblers Return
Macau may be entering its third year of decrease but Sheldon Adelson is buoyed by the rise in mass market gamblers at Sands China properties in June. (Image: abcnews.go.com)
LVS boss Sheldon Adelson is bullish about an upturn in Macau’s fortunes. Speaking throughout the Sands China earnings call this week, the billionaire casino mogul stated that after two straight several years of monthly decline for the gaming hub, stabilization had arrived, evidenced by the fact that mass market gaming at Sands China properties rose for the very first time in two years in June.
‘we talked about in January of last year that I believe we had been seeing the first signs of stabilization in the Macau mass market,’ sad Adelson. ‘Our mass revenue growth in June, despite the arrival of the latest competition on Cotai, represents an important data point giving support to the ongoing stabilization associated with Macau mass market.’
LVS stays positive despite the actual fact that Sand’s China’s total profits for the quarter that is second of declined 16.4 percent year-on-year to $1.48 billion. Meanwhile, Morgan Stanley has announced that Q2 2016 ended up being Macau’s ‘worst quarter in the last five years,’ across the sector.
The VIP players that once accounted for the quarter of Macau’s profits stay conspicuous by their absence, spooked by Beijing’s crackdown on conspicuous consumption and corrupt local government officials. But month that is last mass market gamblers arrived back. And, LVS Chairman Rob Goldstein insisted there’s a palpable change in the atmosphere.
‘One thing good occurred in June,’ he said. ‘The gaming floors are busy, especially on weekends. Macau is morphing into the world’s mass market that is greatest. Hopefully we’ll see it for the rest of the summer.’
LVS shares rallied in the wake of the conference call, climbing just as much as 4.1 per cent in subsequent trading. Analyst Sanford C. Bernstein & Co said that Sands China’s product offering is ‘one of the best positioned to capitalize on Macau’s paradigm shift’ towards mass market gamblers today.
Parisian on the right track for September
Meanwhile, Adelson announced that LVS’s new home on the Cotai Strip, the Parisian Macau, is ‘on track,’ and planned to start September 13th, less than a thirty days after the brand new Wynn Macau is expected to start its doors.
‘The positioning of The Parisian Macau caters well to both the current Macao market conditions and the term that is long trends in Chinese outbound tourism,’ stated Adelson.
‘The Parisian will be a themed premium destination where the aspirational appeal of its public spaces, attractions and amenities, combined with affordable hotel accommodation, will provide an offering that is complimentary the all-suite resort during The Venetian Macao.’
‘ I’m extremely confident that with the opening of The Parisian, we will see growth in Macau,’ he added.
Native United States Casino Sector Generates Strongest Revenue Growth in a Decade
Jonodev O. Chaudhuri, NIGC chairman, stated that tribal gaming provides more social benefits for Native Americans than any other economic driver. (Image: yogonet.com)
The gaming that is tribal across America recorded its highest ever income figures this past year, based on the National Indian Gaming Commission (NIGC). Its profits of $29.9 billion represents a five % increase regarding the previous 12 months and its own growth margin that is best in ten years.
In 2015 there have been 474 gambling operations owned by 283 separate tribes across the country. Properties considering the Eastern Seaboard were the revenue generators that are biggest, with the 31 gambling enterprises in the region bringing within an average of $225.8 million each.
Casinos in California and Nevada had been the next top performers; the 71 properties in the region earned 7.9 billion for the year, and average of $111.3 million each.
The NIGC neglects to call specific casinos, preferring alternatively to deal in broad averages, which highlights overall rosy figures, while perhaps glossing throughout the great disparity into the tribal casino market. A study published earlier this by the economist Alan Meister, which looked solely at the state of the market in 2014, found that the top two states generated 39 percent of all revenues for the sector, while the top ten generated 85 percent year.
However, Meister acknowledged that the sector in basic was outpacing the sector that is commercial terms of development. The Indian Gaming industry bounced back much more quickly from the Great Recession than its commercial counterpart and it has grown every year since 2009.
‘ The strong regulation that tribes, also federal regulators and other stakeholders, provides has played a vital part in the security and growth of the Indian gaming industry by providing consistency and predictability,’ stated NIGC chairman Jonodev O. Chaudhuri, during a news conference on the Cabazon Band of Mission Indians’ reservation in Indio.
Pioneering Cabazon Band
The setting was chosen because the Cabazon Band was the tribe that first paved the way for all American that is native Gaming. Its 1987 appropriate challenge against the State of California, which argued that a state could not forbid casino gaming on tribal sovereign lands if gambling were appropriate elsewhere into the state, was upheld by the United States Supreme Court. This paved the way for the creation Indian Gaming Regulatory Act, and, through it, tribal casinos.
‘Indian gaming is fundamentally different than commercial enterprises; it directly provides resources for Indian people including, social solutions, general public works, education, housing, healthcare, crisis services, public safety and social presentation programs that no other economic driver has yet to give,’ said Chaudhuri.
Maryland Live Casino Sues Soon-To-Be Rival MGM National Harbor Over High-Roller Lists
The Maryland Live Casino southwest of downtown Baltimore in Arundel Mills has brought a lawsuit against its soon-to-be neighbor and rival MGM National Harbor. The litigation claims that the company behind the $1.2 billion property located just 10 miles through the White House obtained its coveted high-roller lists in ill-gotten means.
The Maryland Live Casino is worried MGM National Harbor (pictured) could ransack its VIPs after it was revealed the brand new venue obtained confidential high-roller directories. (Image: mgmnationalharbor.com)
Maryland Live contends that MGM pursued and hired three of its employees that are former served as hosts to VIPs. Maryland Live believes MGM then convinced at least two for the hosts that are high-roller turn over private lists despite signing ‘No Hire/Non-Compete agreements’ during their previous employment.
The situation had been filed in the US District Court in Baltimore. Maryland Live is owned by Cordish Global Gaming Group.
The lawsuit states that MGM ‘aided and abetted’ in the scheme, and hired the individuals based on their knowledge of the VIP gambling crowd in the Washington, DC, and Baltimore metro.
‘Although it’s our normal training never to comment on pending litigation, this lawsuit amounts to nothing more than a thinly disguised attempt to stifle the competition Maryland Live expects from MGM’s nationwide Harbor,’ MGM said in a statement. ‘Maryland Live is resorting to threatening its current and former employees with unenforceable non-compete provisions in hopes of preventing individuals from working in other states regardless of whether their new employment would compete with Maryland Live.’
Tale of Two Casinos
When the MGM National Harbor opens in the two casinos will be located just 40 miles apart from one another december. Of course, considering the nightmarish traffic in the Baltimore-Washington region, those 40 miles are at times a trip that is all-day.
Regardless, it’s too close for comfort for Maryland Live.
First opened in 2012, Maryland Live has essentially had a monopoly on the area for the very last four years. The venue is considered the most lucrative of the state’s five venues that are operational and though it directly competes with the Baltimore Horseshoe, the fight isn’t even shut.
Casinos have grossed $581 million through in 2016, and Maryland Live is responsible for a staggering 57 percent of those revenues june.
Irrespective of the Caesars property in downtown Baltimore, one other three casinos are relatively small venues situated in more remote areas compared to Baltimore and Washington, DC.
Maryland Live is rightfully focused on losing a considerable chunk of its players, particularly those with deep pockets, to the glitzy and National that is flashy Harbor.
Maryland Live cast the very first stone in the future casino war, and it isn’t stopping there.
The casino is investing $200 million into its center to put in a 17-story resort tower as Casino.org reported last month. A total of 310 guest rooms will be accompanied by way of a new event center, meeting areas, dining options, and a day spa and salon.
MGM National Harbor will open with 308 hotel rooms.
‘Maryland Live Casino could be the gaming that is premier entertainment and retail destination serving the heart of the Baltimore/Washington population,’ Cordish worldwide Gaming Group President Robert Norton said in June. ‘ The addition of our flagship Live! Hotel is just the investment that is latest we are making to make certain Maryland Live continues to be the favored choice.’