Politics
US Gambling Market Saturated, Yet Casinos Keep on Coming
WAYNE PARRY, Associated Press
ATLANTIC CITY, N.J. (AP) — The casino market in the northeastern United States is saturated, yet that’s not stopping some states from approving gambling legislation and companies from building new gambling halls.
That’s the consensus of participants at a major casino conference in Atlantic City.
Eugene Johnson, of Spectrum Gaming Group, says by the end of this year, there will be 60 casinos in the northeast. That figure will grow to 65 by 2018, according to his colleague, Joe Weinert.
“There’s not a politician in the land who is going to choose a tax increase when gaming looks so good on paper,” said Wendy Hamilton, general manager of Philadelphia’s SugarHouse casino. “We have to avoid the siren song. There’s not a zip code in the region that doesn’t have four or five (gambling) options within an hour.”
Asked if casino closings outside New Jersey are likely, she said nothing appears imminent, but “of course it’s going to happen” if expansion continues at its current pace.
“Pennsylvania doesn’t care what happens to New Jersey, and New York doesn’t care what happens to Pennsylvania,” she said. “It just can’t go on forever. There’s a finite amount of gaming revenue out there. We are in a very volatile time and we’re in a frenzy of gaming expansion. It needs to stop.”
Ed Sutor, president of Dover Downs casino in Delaware, said the entire mid-Atlantic region saw decreasing revenue in the first quarter of this year.
“New Jersey, Delaware, Pennsylvania, West Virginia and Maryland — the entire market is down,” he said. “That is, friends, saturation. You’re just moving money around. You bring in a new operator and the money just moves around and the entire market doesn’t go up.”
Sutor noted his state is considering adding three more casinos, which he said “makes no sense.”
Atlantic City has lost half its casino revenue and thousands of jobs to competition from Pennsylvania, which is now under pressure from casinos in Ohio and Maryland, said William Ryan Jr. chairman of the Pennsylvania Gaming Control Board.
“We in Pennsylvania know the competition we now confront will always be there, and the days of double digit growth in that area are probably gone,” he said.
More casinos are planned soon for Philadelphia, Massachusetts, Rhode Island, Maryland and New York. Hamilton noted that a planned second Philadelphia casino is being appealed to the state Supreme Court.
“There’s a lot of competition right now,” she said. “If you look at the entire mid-Atlantic region, you’ve got people really hammering each other to win people over. There’s not $400 million in new money in that market. There’s just not. We’re keeping a wary eye on what’s coming down the road; it’s a scary situation.”
New Jersey is considering allowing a casino in the Meadowlands, and possibly a second one in Jersey City, both just outside New York City.
“We’re at a point where we’re just moving money around,” said Chris Brown, a New Jersey state senator from near Atlantic City, who opposes a plan to extend casino gambling to other parts of the state. “All you’re doing is cannibalizing the market you already have.”
Lou Kirven, an executive with New York’s Empire City casino, said adding two northern New Jersey casinos to a market also planning for three new southern New York casinos would be “one too many. We have saturation.”
Bill Hayles, vice president and general manager of Pennsylvania’s Hollywood casino at Penn National Race Course, said Maryland’s casinos have cut into his business.
“We’re feeling it from the Baltimore region, seeing some erosion in our business,” he said. “The sad part is before they open, you spend all your time trying to figure out how to right-size your own property.”
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Wayne Parry can be reached at http://twitter.com/WayneParryAC
Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Activism
Oakland Post: Week of April 17 – 23, 2024
The printed Weekly Edition of the Oakland Post: Week of April 17 – 23, 2024
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Barbara Lee
Congresswoman Barbara Lee Issues Statement on Deaths of Humanitarian Aid Volunteers in Gaza
On April 2, a day after an Israeli airstrike erroneously killed seven employees of World Central Kitchen (WCK), a humanitarian organization delivering aid in the Gaza Strip, a statement was release by Rep. Barbara Lee (D-CA-12). “This is a devastating and avoidable tragedy. My prayers go to the families and loved ones of the selfless members of the World Central Kitchen team whose lives were lost,” said Lee.
By California Black Media
On April 2, a day after an Israeli airstrike erroneously killed seven employees of World Central Kitchen (WCK), a humanitarian organization delivering aid in the Gaza Strip, a statement was release by Rep. Barbara Lee (D-CA-12).
“This is a devastating and avoidable tragedy. My prayers go to the families and loved ones of the selfless members of the World Central Kitchen team whose lives were lost,” said Lee.
The same day, it was confirmed by the organization that the humanitarian aid volunteers were killed in a strike carried out by Israel Defense Forces (IDF). Prior to the incident, members of the team had been travelling in two armored vehicles marked with the WCF logo and they had been coordinating their movements with the IDF. The group had successfully delivered 10 tons of humanitarian food in a deconflicted zone when its convoy was struck.
“This is not only an attack against WCK. This is an attack on humanitarian organizations showing up in the direst situations where food is being used as a weapon of war. This is unforgivable,” said Erin Gore, chief executive officer of World Central Kitchen.
The seven victims included a U.S. citizen as well as others from Australia, Poland, the United Kingdom, Canada, and Palestine.
Lee has been a vocal advocate for a ceasefire in Gaza and has supported actions by President Joe Biden to airdrop humanitarian aid in the area.
“Far too many civilians have lost their lives as a result of Benjamin Netanyahu’s reprehensible military offensive. The U.S. must join with our allies and demand an immediate, permanent ceasefire – it’s long overdue,” Lee said.
Community
Financial Assistance Bill for Descendants of Enslaved Persons to Help Them Purchase, Own, or Maintain a Home
California Legislative Black Caucus (CLBC) vice chair Sen. Steven Bradford (D-Inglewood) introduced new legislation related to reparations to the Senate Committee on Housing on April 2 in Sacramento. Senate Bill (SB) 1007, “establishes the Homeowner’s Assistance for Descendants of Enslaved Persons Program to make financial aid or assistance available to descendants for the purposes of purchasing, owning, or maintaining a home,” the legislation states.
California Legislative Black Caucus (CLBC) vice chair Sen. Steven Bradford (D-Inglewood) introduced new legislation related to reparations to the Senate Committee on Housing on April 2 in Sacramento.
Senate Bill (SB) 1007, “establishes the Homeowner’s Assistance for Descendants of Enslaved Persons Program to make financial aid or assistance available to descendants for the purposes of purchasing, owning, or maintaining a home,” the legislation states.
The Senate Housing Committee advanced the bill with an 8-1 vote. It will be re-referred to the Appropriations Committee for consideration.
Sen. Kelly Seyarto (R-Murrieta) was the only member who voted against the bill.
“SB 1007 is about starting a long process of paying back a debt that is not only owed, but that was also promised, and is 160 years overdue, to African Americans,” Bradford told the committee chaired by Sen. Nancy Skinner (D-Berkeley). “It is the first step in closing the wealth and equity gap created by centuries of slavery and racial discrimination policies.”
The bill aligns with one of the 115 recommendations listed in a two-year study conducted by the California reparations task force, of which Bradford was one of nine members.
Bradford said the report reveals that, in the state of California, a typical Black-owned home is 22% less valuable than a White-owned home.
Various advocacy groups from around the state attended the hearing held at the State Capitol Annex Swing Space. The California Housing Partnership, Bay Area Regional Health and Inequities Initiative, Coalition for A Just and Equitable California, Disability Rights of California, the American Civil Liberties Union of California, and California Community Builders all voiced their support of the bill.
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