A rendering of 1 portion of the proposed Resorts World Miami Genting casino resort project; the $3 billion project still has not received a sign that is high Florida lawmakers.
They do say money talks, but in Genting Resorts World’s case, it’s perhaps not been speaking as loudly as the ongoing business might like.
Maine Gambling Enterprises Oppose Expanded Gambling in State
Most people think about Maine like this, but a small casino contingent is wanting to hold their own there as well. (Image: Katarina Neef/atpm.com)
We may not agree we know there are plenty of reasons that people may oppose more gambling in their state, from moral objections to worries about problem gambling with them, but. But in Maine, gambling is finding an opponent that is unusual the gambling enterprises by themselves.
Read Our Lips: No New Casinos
Officials from the 2 Maine casinos currently in operation spoke to lawmakers this week and stated they shouldn’t approve any expansion of the casino industry within the state. In this case, it seems that the casinos believe that industry in the state is completely saturated already while others believe they’re just afraid of a competition that is little.
The two properties in question the Hollywood and Oxford Casinos faced off at the Joint Standing Committee on Veterans and Legal Affairs against members of two indigenous American tribes in the state, along with the owner of the Scarborough Downs race track, over a number of bills that would serve to expand Maine’s gambling options.
The absolute most controversial of those is recognized as LD 1111. It could enable Scarborough Downs to become a ‘racino,’ operating slot machines with their horse that is current racing. That problem had been brought to referendum in 2011, whenever it received only 45 percent of the vote statewide.
According to track owner Sharon Terry, Scarborough Downs is struggling as a result of the competition it faces from the casinos within the state particularly Oxford Casino, which will be simply 45 minutes away and opened in 2012 june. And even though Hollywood Casino may be further away, it features a friend racino, allowing it to offer everything Scarborough Downs can and more.
Terry says that revenues fell 21.8 percent at her track since slots were allowed at the Bangor competition track, and that the problem is getting a whole lot worse considering that the opening of the Oxford Casino. Since Scarborough Downs accounts for 101 days of racing every year, the cut in revenue maybe not only threatens the track, but also Maine’s entire horse racing industry.
‘The Downs cannot endure underneath the current laws,’ Terry said.
Nonetheless, the general managers of both gambling enterprises along with several business owners in the Oxford area disagreed, opposing allowing slots at the Scarborough Downs facility. In general, the casinos feel that any new gambling in hawaii threatens to ‘cannibalize the industry,’ as Maine is a relatively small state without enough gamblers to help more venues.
That helps explain why in addition they opposed three other bills being considered by their state. Those come with a bill that would allow charities to run up to five slots at their headquarters to be able to raise funds, in addition to two bills that would allow Indian tribes to grow their gambling operations: one which would let the Houlton Band of Maliseets to operate slots and table games, and another that would let the Passamaquoddy Tribe apply to run table games and slots at a current bingo facility.
‘Should further facilities open or expand, we would see erosion that is further of customer base,’ said John Osborne, general manager of the Hollywood Casino.
Big Banks Refuse to Process Legal Online Gambling Transactions
Major bank card issuers like Chase, Wells Fargo and American Express won’t process even legal on the web gambling transactions, they say. (Image: Jason Hindley/money.cnn.com)
Every thing seemed therefore hunky dory: Nevada, Delaware and New Jersey all got legal online gambling or at poker that is least, in Nevada’s case up and running in 2013, and aside from a few issues with geo-location snafus, overall, the web sites in all three states have been running pretty smoothly. Except for starters fairly major bug that has nothing in connection with the sites themselves: major financial organizations like American Express, Wells Fargo and J.P. Morgan Chase are refusing to process any money interactions on these web sites, legal or perhaps not.
Your Transaction Has Been Denied
Whether credit or debit, several heavy-hitter card issuers say they are not gambling when it comes to honoring their cards on online video gaming internet sites. And obviously, that’s not sitting well with many players who say, just what provides? But the banks involved say they’ll not budge, not for online gambling enterprises, poker or sports that are even legal in Nevada.
‘We never let credit card transactions for this activity,’ said Steve O’Halloran, director of advertising and affairs that are public Chase Card and Merchant Services. And American Express spokeswoman Sanette Chao concurs, saying her business simply ‘prohibits the usage of the card for gambling services.’
While some may conclude that this is some type of moral imperative, it works out that it’s more of a easy bottom-line business decision than anything else.
‘Gambling services, historically, account for a number that is high of user credit losses and customer service disputes,’ noted Chao.
UIGEA Still Directs Banks’ Positions
And some banks do still hold onto the old UIGEA model (illegal Internet Gambling Enforcement Act of 2006), because, after all, from a federal standpoint, it is still murky how it’s to be interpreted after having a 2012 reinterpretation of the initial 1961 Wire Act was handed down through the Supreme Court that opened the door to at least state-by-state lawful Web gambling.
Wells Fargo spokeswoman Natalie Brown claims this is certainly the thinking behind her company’s decision to decline gambling deposits.
‘In compliance with regulation GG (illegal Internet Gambling Enforcement Act of 2006), we prohibit the usage of consumer credit cards for Internet gambling,’ said Brown, who is vice president of customer financing communications with Wells Fargo. ‘The companies (Visa, MasterCard and Express that is american the vendor category codes and block fees that do not conform to federal laws.’
While this may make some feeling from their perspectives, it could prove a discouraging reality for online players in legal gambling states.
‘What the industry has done is take an approach that is conservative a reaction to the legalization of online gambling,’ said Tobin Prior, CEO of Ultimate Gaming, which really is a subsidiary of Station Casinos, a land-gaming proprietor in Nevada and the first to go online with legal poker in the Silver State. ‘That can be frustrating, but we work with clients to locate alternatives.’
Certainly one of some great benefits of this brick-and-mortar/Internet symbiosis is that customers can both fund and cash out at any of these land video gaming properties, in either Southern Nevada or at Station’s land gaming partner the Taj Mahal in Atlantic City. Players can also use e-checks or wire transfers to prior make deposits noted.
While legal websites might wish that banks had been more in their court right now, Caesars WSOP site’s spokesperson Seth Palansky states it is what it really is.