
First Lady Michelle Obama energized the audience during the Democratic National Convention regarding the shared theme that is common Donald Trump is not fit for the Oval Office.
Donald Trump spent a quarter-century owning companies in Atlantic City. Throughout the span of his campaign, the billionaire Republican Party nominee has repeatedly trumpeted his success into the east coast gambling mecca.
‘I made a ton of cash in Atlantic City and left seven years ago, great timing,’ Trump tweeted earlier this month.
After a weeklong Republican National Convention (RNC) that officially made Trump the GOP’s presidential prospect, it is now time for the Democrats to hold their own love fest. While contention remains between the Bernie Sanders faithful and presumptive nominee Hillary Clinton, one thing most in attendance in Philadelphia at 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’d run our country like he has run his businesses,’ New Jersey Senator Cory Booker stated in delivering a speech that is passionate. ‘ I’m from New Jersey, and we have seen the real way he leads . . . He got rich while his companies declared numerous bankruptcies.’
Massachusetts Senator Elizabeth Warren echoed Booker by saying, ‘Donald Trump continues on, and on, and on, about being fully a businessman that is successful but he filed business bankruptcies . . . Always to safeguard his money that is own and his investors and contractors with the bill.’
Banking on Bankruptcy
Trump says he’s a billionaire that is self-made the political left says he’s absolutely nothing but a bully who got rich at the expense of the little people.
So who’s to think? In truth, both are right, and both are being fully a little dishonest.
Trump never personally filed for bankruptcy, but companies 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 had been 45-years-old at the time.
He lost half of his 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 of 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 estate that is real forfeited 1 / 2 of his stake within the New York Plaza to the banking institutions.
Twelve years later on, Trump Hotel & Casino Resorts shed $500 million with debt by turning over majority 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 within the gambling sector. He resigned through the company’s board as well as the company ended up being eventually sold to Carl Icahn in 2016.
He Said, She Stated
According to Real Clear Politics, the latest aggregated polls show Trump with a lead that is slight Clinton 45.6-44.7.
The revelation this week by WikiLeaks that Democratic National Committee Chair Debbie Wasserman Schultz ended up being actively working against Sanders has brought additional scrutiny to the ticket that is democratic.
Sanders attempted to persuade their backers to support Clinton during his speech yesterday, and by most records he succeeded. First Lady Michelle Obama delivered yet another message that is strong also threw her support behind Clinton.
Three more evenings remain for the Democrats as they try and unite and spread their message to your 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 year that is third of 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 during the Sands China earnings call this week, the billionaire casino mogul stated that after two straight years of monthly decline for the gaming hub, stabilization had arrived, evidenced by the truth 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 year that i really believe we had been seeing the first signs of stabilization in the Macau mass market,’ sad Adelson. ‘Our mass revenue development in June, despite the arrival of the latest competition on Cotai, represents an important data point giving support to the ongoing stabilization associated with the Macau mass market.’
LVS continues to be optimistic despite the actual fact that Sand’s Asia’s total revenues for the second quarter of 2016 declined 16.4 percent year-on-year to $1.48 billion. Meanwhile, Morgan Stanley has established that Q2 2016 was Macau’s ‘worst quarter in the past five years,’ across the sector.
Shares Rally
The VIP players that once accounted for a quarter of Macau’s profits remain conspicuous by their absence, spooked by Beijing’s crackdown on conspicuous consumption and corrupt local federal government officials. But month that is last mass market gamblers arrived back. And, LVS Chairman Rob Goldstein insisted there is a palpable change in the atmosphere.
‘Something good occurred in June,’ he said. ‘The video gaming floors are busy, particularly on weekends. Macau is morphing to the earth’s greatest mass market. Hopefully we’ll see it for all of those other summer.’
LVS shares rallied within the wake of the conference call, climbing just as much as 4.1 percent in subsequent trading. Analyst Sanford C. Bernstein & Co said today that Sands China’s product providing is ‘one associated with best positioned to capitalize on Macau’s paradigm shift’ towards mass market gamblers.
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 Wynn that is new Macau expected to open its doors.
‘The placement for 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 would have been a themed premium destination where the aspirational appeal of its public areas, attractions and amenities, combined with affordable hotel accommodation, will provide a complimentary offering to the all-suite resort during The Venetian Macao.’
‘ I’m extremely confident that with the opening of The Parisian, we shall 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 1xbet работающее зеркало на ÑÐµÐ³Ð¾Ð´Ð½Ñ 2018 for Native Americans than any other economic motorist. (Image: yogonet.com)
The tribal gaming industry across America recorded its highest ever revenue figures last year, in accordance with the National Indian Gaming Commission (NIGC). Its earnings of $29.9 billion represents a five per cent increase regarding the previous 12 months as well as its best growth margin in ten years.
In 2015 there have been 474 gambling operations owned by 283 separate tribes across the united states. Properties considering the Eastern Seaboard had been the biggest revenue generators, with the 31 gambling enterprises in the region bringing in a average of $225.8 million each.
Gambling enterprises in California and Nevada had been the following performers that are top the 71 properties in the region earned 7.9 billion for the 12 months, and average of $111.3 million each.
Disparity Exists
The NIGC neglects to mention specific casinos, preferring rather to deal in broad averages, which highlights overall rosy figures, while perhaps glossing over the great disparity in 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 commercial sector in terms of development. The Indian Gaming industry bounced right back much more quickly through the Great Recession than its counterpart that is commercial and grown each year since 2009.
‘ The regulation that is strong tribes, as well as federal regulators and other stakeholders, provides has played a vital 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 conference on the Cabazon Band of Mission Indians’ reservation in Indio.
Pioneering Cabazon Band
The setting was in fact chosen because the Cabazon Band was the tribe that first paved the way for several 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 US Supreme Court. This paved the way 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, public works, training, housing, healthcare, emergency services, general public safety and cultural presentation programs that no other economic driver has yet to produce,’ 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 nationwide Harbor. The litigation claims that the ongoing company behind the $1.2 billion property positioned 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 had been 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 thinks MGM then convinced at least two associated with the high-roller hosts to turn over private lists despite signing ‘No Hire/Non-Compete agreements’ during their past work.
The actual situation was filed within the United States District Court in Baltimore. Maryland Live is owned by Cordish worldwide Gaming Group.
The lawsuit states that MGM ‘aided and abetted’ into the scheme, and hired the people based on their knowledge of the VIP gambling crowd in the Washington, DC, and Baltimore metro.
‘Although its our normal training not 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 National Harbor,’ MGM said in a statement. ‘Maryland Live is resorting to threatening its present and former employees with unenforceable non-compete provisions in hopes of preventing individuals from employed in other states whether or not their employment that is new would with Maryland Live.’
Tale of Two Casinos
Once the MGM National Harbor starts in December, the 2 casinos will be located just 40 kilometers apart from a single another. Of course, considering the nightmarish traffic in the Baltimore-Washington area, those 40 miles are at times an all-day journey.
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 final four years. The venue is the most lucrative of the state’s five operational venues, and though it directly competes with the Baltimore Horseshoe, the battle isn’t even close.
Casinos have grossed $581 million through June in 2016, and Maryland Live is responsible for a staggering 57 percent of these revenues.
Regardless of the Caesars property in downtown Baltimore, the 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 substantial amount of its players, specifically those with deep pockets, to the glitzy and fancy nationwide Harbor.
Doubling Down
Maryland Live cast the first stone in 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. An overall total of 310 guest rooms will be accompanied by a event that is new, 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 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 just the latest investment we are making to make sure Maryland Live continues to be the preferred choice.’