Atlanta Casino Push Gains Powerful Lobbyist, Golden Nugget Owner Willing to Bet on Georgia

Atlanta Casino Push Gains Powerful Lobbyist, Golden Nugget Owner Willing to Bet on Georgia

Two identical Atlanta casino bills have actually been introduced to both chambers of this state’s General Assembly, and gambling organizations throughout the country are readying for the legislative fight by hiring high-profile lobbyists.

It’s tough to find fertile regions that are non-gaming the US, especially in major metropolises. An Atlanta casino bill seeks to bring land-based gambling to Georgia, much to the delight of billionaire Tilman Fertitta.

Probably the most recent name to join the push for casinos in Georgia is former Mississippi Governor Haley Barbour. The Republican who served two terms leading The Magnolia State has filed lobbyist paperwork in Atlanta to represent the interests of Las Wynn that is vegas-based Resorts.

Barbour joining the discussion is important as a result of their long friendship with current Georgia Governor Nathan contract (R). State lawmakers have actually been pressing to legalize commercial gambling in Georgia for more than a 12 months so as to increase tax revenue.

Deal has opposed legislation that is such the past, but recently hinted he’d be open for a discussion should the casino legislation mandate that most the proceeds support education, as well as the effect wouldn’t directly harm the state’s lottery system.

Though Georgia does not now have land-based tribal or commercial gambling, nor pari-mutuel wagering, the Peach State sold $4.556 (more…)

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Raiders Were ‘Picking Adelson’s Pocket’ Through Stadium Deal, Says Spokesman

Raiders Were ‘Picking Adelson’s Pocket’ Through Stadium Deal, Says Spokesman

Sheldon Adelson withdrew a $650 million dedication to help create a stadium in Las Vegas for the Oakland Raiders after becoming frustrated utilizing the team’s overreaching demands and signals that are mixed him during negotiations.

Mark Davis and Sheldon Adelson, pictured here in happier times, are not any longer working together on the $1.9 billion ‘Las Vegas Raiders’ stadium project. Adelson spokesman Andy Abboud had some words that are harsh the Raiders this week.

This is in accordance with Andy Abboud, vice president of government relations and community affairs for LVS.

Abboud told the Las Vegas Review-Journal, a newspaper owned by his employer, Adelson, that the final straw came when the Raiders took a proposed arena rent agreement to the Las Vegas Stadium authority without informing the Adelsons.

No mention was made by the lease of this Adelsons being a partner, a turn of occasions Abboud describes as ‘stunning.’

‘I’m still racking your brains on what the hell these people were thinking,’ Abboud said. ‘Had they told anybody ahead of time that they were planning to dump that document, even should they had told us, ‘we do not want you in the deal anymore,’ should they had shown anyone that has been tangled up in this process at all that document, we would have said, ‘What in the hell are you currently thinking?”

Commitment Problems

Four days after the ending up in the authority, on Januar (more…)

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North Korea Deals a Last Hand to Kim Jong Un’s Casino-Loving Half-Brother, Assassinated in Malaysia

North Korea Deals a Last Hand to Kim Jong Un’s Casino-Loving Half-Brother, Assassinated in Malaysia

North Korean dictator and anti-gambling hardliner Kim Jong Un’s more fun-loving half-brother Kim Jong-nam was headed to Macau, presumably for a gambling junket, when he was reportedly assassinated on Tuesday at the Kuala Lumpur International Airport in Malaysia.

North Korea’s Kim Jong Un hasn’t publicly addressed the assassination of his decade older half-brother this week in Malaysia, but all signs point to the dictator being involved in the murder. The brother, known to be a gambler, was headed to Macau when he was accosted by a woman and killed.

Though details of the murder are still developing, the latest reports claim two women approached the exiled North Korean, with one placing a cloth containing a suspected poison over his face. Jong-nam died on the way to the hospital at the age of 45.

Malaysian police say they’ve arrested one of the women, and note she’s a 28-year-old holding a Vietnamese passport.

Heir Abhorrent

The oldest son of Kim Jong-iI, the notorious supreme leader of the Democratic People’s Republic of Korea (DPRK), Jong-nam was well-known for leaning towards much-frowned-upon Western frivolities like casinos. None of that flew well with his famously harsh and merciless sibling-in-command.

North Korea has strict laws against gambling, as it does regarding any practice that might lead to a bit of fun or enjoyment for its citizens. There are, however, two casinos i (more…)

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MGM Resorts Misses Fourth-Quarter Projections, but Springfield Casino Construction Ahead of Schedule

MGM Resorts Misses Fourth-Quarter Projections, but Springfield Casino Construction Ahead of Schedule

MGM Resorts posted improved fourth-quarter revenues in 2016 compared to the previous year, but the generated income fell far short of projections.

MGM Resorts CEO Jim Murren is encouraged heading in 2017 despite a disappointing fourth quarter for his company.

The Las Vegas-headquartered gaming and hospitality company reported net income of nearly $70 million for the final three months of the year. That translates to four cents per share, a far cry from the analysts’ consensus estimate of 21 cents for the quarter.

Though the company’s new property in Washington, DC, appropriately named National Harbor, brought in big money for MGM, and performance improved at the conglomerate’s 10 venues in Las Vegas and Atlantic City’s Borgata, the convention space underperformed.

Regardless of coming in well under fiscal expectations, CEO Jim Murren painted the earnings data in a rosy light.

‘The achievement of key financial and strategic milestones demonstrates our continued focus on driving profitability,’ Murren said in a release. ‘We are excited about the outlook for 2017.’

Investors on Wall Street don’t normally take the bait, and value numbers over words. Traded on the New York Stock Exchange, shares of MGM Resorts fell as much as nine percent following the financial announcement.

For the complete year, MGM generated a net income of $1.24 billion, or $1.94 per share. That’s a substantial im (more…)

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