First Lady Michelle Obama energized the crowd at the Democratic National Convention on the shared common theme that Donald Trump just isn’t fit for the Oval workplace.
Donald Trump spent a quarter-century getting businesses in Atlantic City. Throughout the course of his campaign, the billionaire Republican Party nominee has repeatedly trumpeted his success in the east shore gambling mecca.
‘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 agree on is that Donald Trump is not qualified to be president.
His record in Atlantic City is a prime example for Democrats who argue Trump isn’t looking out for the American people.
‘Trump says he would run our nation like he has run their companies,’ 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 means he leads . . . He got rich while his companies declared numerous bankruptcies.’
Massachusetts Senator Elizabeth Warren echoed Booker by saying, ‘Donald Trump goes on, and on, and on, about being fully a successful businessman, but he filed business bankruptcies . . . Always to guard his very own cash 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 but a bully who got rich at the expense of the tiny people.
So who’s to believe? In fact, both are right, and both are being truly a dishonest that is little.
Trump has never personally filed for bankruptcy, but companies he is 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, offered his yacht that is 282-foot dubbed ‘Trump Princess,’ and shuttered Trump Airlines.
The year that is following 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 real-estate businessman forfeited 1 / 2 of his stake in the ny Plaza to the banks.
Twelve years later, 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 in the gambling sector. He resigned from the business’s board therefore the company ended up being eventually offered 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 was actively working against Sanders has brought additional scrutiny to your ticket that is democratic.
Sanders tried to persuade his backers to help Clinton during his speech night that is last and also by many records 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 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 employer Sheldon Adelson is bullish about an upturn in Macau’s fortunes. Speaking through myfreepokies.com the Sands Asia earnings call this week, the billionaire casino mogul stated that after two straight several years of month-to-month decline 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 pointed out in January of last 12 months we were seeing the first signs of stabilization in the Macau mass market,’ sad Adelson that I believe. ‘Our mass revenue development in June, inspite of the arrival of the latest competition on Cotai, represents an important data point supporting the ongoing stabilization of the Macau mass market.’
LVS remains positive despite the actual fact that Sand’s China’s total revenues for the quarter that is second of declined 16.4 percent year-on-year to $1.48 billion. Meanwhile, Morgan Stanley has established that Q2 2016 had been Macau’s ‘worst quarter in the final five years,’ across the sector.
The VIP players that once accounted for a quarter of Macau’s revenues remain conspicuous by their absence, spooked by Beijing’s crackdown on conspicuous consumption and corrupt government that is local. But month that is last mass market gamblers arrived back. And, LVS Chairman Rob Goldstein insisted there exists a change that is palpable the atmosphere.
‘One thing good occurred in ‘ he said june. ‘The video gaming floors are busy, particularly on weekends. Macau is morphing into the earth’s mass market that is greatest. Hopefully we’ll notice it for all of those other summer.’
LVS shares rallied into the wake of the conference call, climbing up to 4.1 % in subsequent trading. Analyst Sanford C. Bernstein & Co said today that Sands China’s product providing is ‘one for the best positioned to capitalize on Macau’s paradigm shift’ towards mass market gamblers.
Parisian on 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 thirty days after the Wynn that is new Macau expected to start its doors.
‘The placement regarding the Parisian Macau caters well to both the present Macao market conditions and the long term growth trends in Chinese outbound tourism,’ said 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 a year ago, based on the National Indian Gaming Commission (NIGC). Its profits of $29.9 billion represents a five per cent increase on the previous 12 months and its particular best growth margin in ten years.
In 2015 there were 474 gambling operations owned by 283 tribes that are separate the united states. Properties considering the Eastern Seaboard were the biggest income generators, with the 31 gambling enterprises in the region bringing in an average of $225.8 million each.
Gambling enterprises in California and Nevada were the next performers that are top the 71 properties in your community earned 7.9 billion for the 12 months, 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 numbers, while perhaps glossing over the great disparity within 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 general was outpacing the commercial sector in regards to 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 strong regulation that tribes, in addition to 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,’ said NIGC chairman Jonodev O. Chaudhuri, during a news conference on the Cabazon Band of Mission Indians’ reservation in Indio.
Pioneering Cabazon Band
The setting had been chosen because the Cabazon Band was the tribe that first paved the way for several indigenous United states Gaming. Its 1987 challenge that is legal the State of California, which argued that the 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 casinos.
‘Indian gaming is fundamentally different than commercial enterprises; it directly provides resources for Indian people including, social services, public works, training, housing, healthcare, crisis services, public safety and social presentation programs that no other financial 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 MGM National that is rival Harbor. The litigation claims that the ongoing company behind the $1.2 billion property found just 10 miles from the White House obtained its coveted high-roller listings in ill-gotten ways.
The Maryland Live Casino is worried MGM National Harbor (pictured) could ransack its VIPs after it was 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 thinks MGM then convinced at least two of the hosts that are high-roller turn over private lists despite signing ‘No Hire/Non-Compete agreements’ during their past employment.
The case ended up being filed in the United States 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 really is 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 nationwide 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 folks from working in other states no matter whether their employment that is new would with Maryland Live.’
Tale of Two Gambling Enterprises
If the MGM National Harbor opens in December, the 2 gambling enterprises will be located just 40 kilometers apart from a another. Of course, considering the nightmarish traffic in the Baltimore-Washington area, those 40 miles are at times an all-day trip.
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 functional venues, and though it directly competes with the Baltimore Horseshoe, the fight 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.
In addition to the Caesars home in downtown Baltimore, the other three casinos are relatively little venues situated in more remote areas compared to Baltimore and Washington, DC.
Maryland Live is rightfully focused on losing a considerable amount of its players, specifically those with deep pockets, to your glitzy and National that is flashy Harbor.
Maryland Live cast the stone that is first the future casino war, and it’s alson’t stopping here.
As Casino.org reported last month, the casino is investing $200 million into its facility to put in a 17-story hotel tower. An overall total of 310 guest rooms will be accompanied with 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 may be the leading gaming, entertainment and retail destination serving the heart of the Baltimore/Washington populace,’ Cordish worldwide Gaming Group President Robert Norton said in June. ‘ The addition of our flagship Live! resort is just the latest investment we are making to ensure Maryland Live continues to be the preferred choice.’