Very First Lady Michelle Obama energized the audience at the Democratic National Convention in the shared common theme that Donald Trump is not fit for the Oval Office.
Donald Trump invested a quarter-century getting companies in Atlantic City. The billionaire Republican Party nominee has repeatedly trumpeted his success in the east coast gambling mecca throughout the course of his campaign.
‘I made a lot of cash in Atlantic City and left seven years ago, great timing,’ Trump tweeted earlier this thirty days.
The GOP’s presidential candidate, it’s now time for the Democrats to hold their own love fest after a weeklong Republican National Convention (RNC) that officially made Trump. 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 acknowledge is that Donald Trump is not 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’d run our nation like he has run his organizations,’ nj-new Jersey Senator Cory Booker stated in delivering a speech that is passionate. ‘ I’m from New Jersey, and we have seen the real method he leads . . . He got rich while his companies declared multiple bankruptcies.’
Massachusetts Senator Elizabeth Warren echoed Booker by saying, ‘Donald Trump continues on, and on, and on, about being truly a businessman that is successful but he filed business bankruptcies . . . Constantly to guard his money that is own and his investors and contractors with the bill.’
Banking on Bankruptcy
Trump says he is a billionaire that is self-made the political left claims he is absolutely nothing however a bully who got rich at the cost of the little people.
So who is to think? In truth, both are right, and both are being truly a little dishonest.
Trump has never personally filed for bankruptcy, but organizations he’s owned have.
The first came in 1991 when the Trump Taj Mahal in Atlantic City declared Chapter 11 bankruptcy. The filing was damaging for Trump who had been 45-years-old at the time.
He lost half of their stake in the casino, offered his 282-foot yacht dubbed the ‘Trump Princess,’ and shuttered Trump Airlines.
The year that is following Castle Associates, owners regarding the Trump Plaza in New York City and Trump Plaza Hotel and Casino and Trump Castle Resort in Atlantic City, also filed for bankruptcy. The real estate businessman forfeited 50 % of his stake into the ny Plaza to the banking institutions.
Twelve years later on, Trump Hotel & Casino Resorts shed $500 million with debt by switching over bulk control of its Atlantic City properties and its Indiana riverboat to investors.
Finally in 2009, Trump Entertainment Resorts was the straw that is last Trump’s ventures into the gambling sector. He resigned from the organization’s board therefore the organization had been eventually offered to Carl Icahn in 2016.
He Said, She Stated
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 seat Debbie Wasserman Schultz was actively working against Sanders has brought additional scrutiny to the ticket that is democratic.
Sanders tried to persuade his backers to help Clinton during his message night that is last and also by many accounts he succeeded. First Lady Michelle Obama delivered yet another strong message and also threw her support behind Clinton.
Three more evenings remain for the Democrats as they try and unite and spread their message to the American people. Meanwhile, Donald Trump will tweet and appear on as many news programs as feasible.
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 employer Sheldon Adelson is bullish about an upturn in Macau’s fortunes. Speaking throughout the Sands Asia earnings call this week, the billionaire casino mogul said that after two straight several years of monthly decrease for the gaming hub, stabilization had arrived, evidenced by the fact that mass market gaming at Sands China properties rose for the time that is first two years in June.
‘I talked about in January of last 12 months that in my opinion we were seeing the first indications of stabilization in the Macau mass market,’ unfortunate Adelson. ‘Our mass revenue growth in June, regardless of the arrival of new competition on Cotai, represents an important data point giving support to the ongoing stabilization of this Macau mass market.’
LVS stays positive despite the very fact that Sand’s China’s total profits for the second quarter of 2016 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 a quarter of Macau’s profits stay conspicuous by their absence, spooked by Beijing’s crackdown on conspicuous consumption and corrupt local government officials. But last thirty days the mass market gamblers came back. And, LVS Chairman Rob Goldstein insisted there exists a change that is palpable the atmosphere.
‘Something good took place in ‘ he said june. ‘The gaming floors are busy, particularly on weekends. Macau is morphing to the earth’s mass market that is greatest. Hopefully we’ll view it for all of those other summer.’
LVS shares rallied within the wake of the conference call, climbing as much as 4.1 per cent in subsequent trading. Analyst Sanford C. Bernstein & Co said today that Sands China’s product offering is ‘one associated with best positioned to capitalize on Macau’s paradigm change’ towards mass market gamblers.
Parisian on the right track for September
Meanwhile, Adelson announced that LVS’s brand new property on the Cotai Strip, the Parisian Macau, is ‘on track,’ and scheduled to open September 13th, less than a month after the Wynn that is new Macau expected to start its doors.
‘The positioning of The Parisian Macau caters well to both the existing Macao market conditions and the long haul growth 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 a complimentary offering to the all-suite hotel during The Venetian Macao.’
‘ I’m extremely confident that with the opening of The Parisian, we shall see growth in Macau,’ he added.
Native American Casino Sector Generates Strongest Revenue Growth in a Decade
Jonodev O. Chaudhuri, NIGC chairman, said 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, in accordance with the National Indian Gaming Commission (NIGC). Its profits of $29.9 billion represents a five per cent increase regarding the previous year and its best growth margin in ten years.
In 2015 there have been 474 gambling operations owned by 283 tribes that are separate the country. Properties considering the Eastern Seaboard were the revenue generators that are biggest, with the 31 gambling enterprises in the region bringing in a average of $225.8 million each.
Casinos in California and Nevada were the next performers that are top 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 rather to deal in broad averages, which highlights overall rosy figures, while perhaps glossing over the great disparity into the casino market that is tribal. 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 right back much more quickly from the Great Recession than its commercial counterpart and has grown every year since 2009.
‘ The regulation that is strong tribes, along with federal regulators and other stakeholders, provides has played an integral role in the security and growth of the Indian gaming industry by providing consistency and predictability,’ stated NIGC chairman Jonodev O. Chaudhuri, during a news seminar on the Cabazon Band of Mission Indians’ reservation in Indio.
Pioneering Cabazon Band
The setting was indeed 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 within the state, was upheld by the US Supreme Court. This paved just how for the creation Indian Gaming Regulatory Act, and, through it, tribal gambling enterprises.
‘Indian gaming is fundamentally different than commercial enterprises; it directly provides resources for Indian people including, social services, general public works, education, housing, medical care, emergency services, general public safety and social presentation programs that no other financial 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 business behind the $1.2 billion property positioned just 10 miles from the White House obtained its coveted high-roller listings in ill-gotten methods.
The Maryland Live Casino is worried MGM National Harbor (pictured) could ransack its VIPs after it had been revealed the venue that is new 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 associated with the high-roller hosts to turn over confidential lists despite signing ‘No Hire/Non-Compete agreements’ during their past work.
The truth had been filed into the US District Court in Baltimore. Maryland Live is owned by Cordish Global Gaming Group.
The lawsuit states that MGM ‘aided and abetted’ into the scheme, and hired the people based on the knowledge of the VIP gambling crowd in the Washington, DC, and Baltimore metro.
‘Although it really is our normal practice to not touch upon 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 folks from employed in other states no matter whether their new employment would compete with Maryland Live.’
Tale of Two Casinos
Once 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 area, those 40 miles are at times a trip that is all-day.
Regardless, it is too close for comfort for Maryland Live.
First opened in 2012, Maryland Live has essentially had a monopoly on the certain area for the last four years. The venue is considered the most lucrative of the state’s five functional venues, and though it directly competes with the Baltimore Horseshoe, the battle is not even close.
Casinos have grossed $581 million through June in 2016, and Maryland Live is responsible for a staggering 57 percent of these revenues.
Irrespective of the Caesars home in downtown Baltimore, one other three casinos are relatively tiny venues situated in more remote areas compared to Baltimore and Washington, DC.
Maryland Live is rightfully concerned about losing a considerable amount of its players, particularly those with deep pockets, to the glitzy and National that is flashy Harbor.
Maryland Live cast the stone that is first the upcoming casino war, and it isn’t stopping there.
The casino is investing $200 million into its facility to add a 17-story hotel tower as Casino.org reported last month. A complete of 310 guest rooms will be accompanied with a event that is new, meeting areas, dining options, and a day spa and salon.
MGM nationwide Harbor will open with 308 hotel rooms.
‘Maryland Live Casino could be the premier gaming, entertainment and retail destination serving the heart of the Baltimore/Washington populace,’ Cordish Global Gaming Group President Robert Norton said in June. ‘ The addition of our flagship Live! resort is simply the latest investment we are making to ensure Maryland Live continues to function as favored choice.’