Tioga Downs owner Jeff Gural is among those people who have been approached by state investigators questions that are asking nyc’s casino licensing process.
The New York state attorney general’s workplace has apparently exposed an inquiry into how the 3 web sites that were recommended by the Gaming Facility Location Board were plumped for, and whether the putting in a bid process all together had been fair.
Based on reports that are various investigators for New York Attorney General Eric Schneiderman have met with a few regarding the bidders who were a part of the casino selection procedure, apparently to analyze whether conflicts of interest or other problems were present during the selection.
According up to a report by Central New York Media, the three winning bidders all had ties to Taft, Stettinius & Hollister.
That company merged with lawyer Shefsky & Froelich last year, after which it became the lead gambling consultant for the location board. As a whole, five of the 16 casino bids mentioned ties to the organizations as a conflict that is potential of.
Gural States Investigators Approached Him About Process
According to Tioga Downs owner Jeff Gural, he has spoken to investigators in regards to the bidding process. But though Gural has previously complained in regards to the Southern Tier being passed over and it has lobbied for his proposed casino to obtain a second look, he states he had not been trying to allege any illegal activity into the process.
‘we don’t get in touch with the AG,’ Gural said. ‘It wasn’t my intent to whine.’
Gural stated that while he told investigators that he didn’t think any laws had been broken during the putting in a bid process, he did have questions in regards to the potential conflict of great interest caused by an absolute bidder’s connections to that particular casino consulting firm, something he feels might not have been fair.
James Featherstonhaugh, an Albany lobbyist who worked with two losing bidders, also stated that state investigators had contacted his clients in recent months. However, he offered responses that were even softer than those of Gural, saying that he wasn’t accusing the location board of any impropriety while he was disappointed in the results.
‘We thought that the process was managed fairly and skillfully,’ Featherstonhaugh told the latest York instances. ‘We desire we had won. But we didn’t.’
Location Board Says Process Was Fair and Clear
According to location board spokesperson Lee Park, Taft’s role along the way was only to compile submitted materials into more easily comparable summaries that board members might use.
‘Taft had no direct input into decision-making of the board users,’ Park stated month that is last.
In a statement problems Monday, Park reiterated that the procedure was fair and followed the rules established by New York’s casino legislation.
‘The casino process that is sitting followed the provisions of the Upstate New York Gaming Economic Development Act, which called for unprecedented transparency,’ Park said. ‘All material regarding the process, including legally required disclosures of potential disputes of interest, are available on our website for anyone to examine.’
The investigation comes due to the fact location board is planning to provide a final report on the three sites chosen for gambling enterprises on Friday. The board is also expected to consider a formal request for allowing new proposals from the Southern Tier region, potentially allowing a fourth unused casino license to be awarded to a project there on that day.
At as soon as casino-bonus-free-money.com, the three recommended casino projects in upstate New York include Montreign Resort and Casino in Thompson (located in the Catskills), Rivers Casino and Resort in Schenectady, and Lago Resort Casino in Tyre, near the Finger Lakes.
Revel Sold To Florida Billionaire Straub For $82 Million
Right Back from the dead: Glenn Straub finally gets their fingers regarding the shuttered Revel casino resort, which he plans to show into a casino-cum-center dedicated to life extension technology. (Image: wsj.com)
Sold, to the eccentric Florida billionaire within the front line: one gigantic, doomed casino resort that leakages $2 million per week. Stunning views regarding the beach.
Yes, after months of tortuous wrangling that is legal property developer Glenn Straub has finally got his mitts on the stricken Revel Casino Resort in Atlantic City. He shall pay $82 million for the building, a fraction of the $2.4 billion it cost to build.
His plans? Well, Revel will NOT become an elite university in which the brightest minds in the world can wander up and down the boardwalk ruminating on answers to global dilemmas, such as ‘famine, cancer and nuclear waste storage,’ as Straub previously proposed.
Instead, it will be some kind of strange center specialized in the search for eternal youth, or ‘life-extension science,’ to make use of the terminology that is preferred. We imagine that is very big in Florida.
Oh, and a casino.
Life Extension for Revel
Yes, despite, previous statements that he dislikes the very idea of Atlantic City as a casino town and that he would feel uncomfortable about profiting from gambling (although, given Revel’s history, there would be seemingly little chance of that), Straub has tantalizingly revealed that the failed casino property will reopen as a casino. Albeit a strange one. After all, as he explained to Bloomberg this week: ‘It’s a shame not to have some entertainment.’
‘ I think we can help a complete lot of people,’ added Straub of Revel’s forthcoming life-extension facilities. ‘We’ll offer you a of knowledge and maybe expand your life. week’
An issue that could have been instrumental in Straub compromising his convictions about gambling enterprises may be the energy that is crippling that’s tagged onto Revel. While Straub was indeed the original ‘stalking horse’ in Revel’s bankruptcy auction, establishing the bottom bid at $90 million, the auction had been eventually won by the Canadian company Brookfield Asset Management, by having a bid of $110 million.
Energy Bills from Hell
But Brookfield balked and bolted whenever it saw the annual energy bill of $36 million. In contrast, the Borgata, which has doubly numerous hotel spaces and a more substantial casino floor, paid $11.7 million year that is last energy costs.
The property gets its energy from an adjacent plant, owned by ACR Partners LLC, which was built especially for that purpose and with Revel is its sole customer. Revel AC Inc started building the power plant when work started on the home, in 2008.
When the business went away from money, nonetheless, the plant was taken over by ACR, which demanded a 15 per cent return on its equity within the first 5 years and 18 per cent from then on. Revel’s obligations to ACR constitute equity payments totaling $20.1 million annually, plus $4 million for operations and maintenance.
Resorts Casino Resort Joins New Jersey Online Gambling Fray
Resorts will get to be the 5th casino company in Atlantic City to open an on line gambling site in the state of the latest Jersey. (Image: Donald Kravitz/Getty Graphics)
Resorts Casino Hotel may rank last among the remaining Atlantic City casinos in terms of income, but that is not stopping them from jumping straight into the online gambling world.
This week, Resorts will become the 5th Atlantic City casino company to offer gambling that is online their state of New Jersey. With a little fortune, they may even be joined by an extremely powerful partner into the weeks or months to come.
Resorts will end their testing that is five-day period Wednesday, the second of two full days of operation that follow three partial days of gaming.
This means the casino’s online gambling sites are going to be entirely operational on Thursday, just a week Resorts received their waiver that is transactional from New Jersey Division of Gaming Enforcement (DGE).
Resorts Boasts Wide Range of Casino Games, No Poker at Launch
‘As New Jersey’s first casino destination, Resorts is committed to delivering the best-in-class online video gaming experience in the Garden State by partnering with gaming leaders, including SNG Interactive, which houses Sportech and NYX Gaming Group,’ said Mark Giannantonio, CEO and president of Resorts Casino Hotel.
‘With SNG’s flexible gaming solutions and exclusive game content, we are excited to introduce European countries’s industry-leading casino slots and table games to the United States market for the best online user experience.’
Resorts joins the Borgata, Golden Nugget, Tropicana and Caesars Entertainment in providing online casinos in New Jersey. Right now, only the Borgata (partnered with partypoker) and Caesars (with 888 Holdings) offer online poker.
That’s not something that Resorts can boast appropriate out from the gate. However, they’re prone to enter the Internet poker landscape sooner rather than later on. Resorts has an existing partnership agreement aided by the Rational Group, the parent company of PokerStars and Full Tilt that is now owned by Amaya Gaming.
While Amaya’s licensing application was delayed, there has been indications that the organization could gain a brand new Jersey permit quickly, which would likely make Resorts a formidable competitor within the internet poker sphere.
PokerStars, Full Tilt Could Provide Games if Certified
‘Resorts has built an exclusive relationship with PokerStars and Full Tilt Poker, two of the very popular and effective online gaming brands on earth,’ reads an FAQ page for Resorts. ‘This means Resorts will be supplying New Jersey with the best casino that is online poker internet sites with the industry’s most competitive products.’
For the time being, though, the focus will be on providing casino items. According to Resorts, their site will ‘feature the selection that is largest of casino slots and dining table games in the state of brand New Jersey along with exclusive games and highly coveted content that are unavailable elsewhere.’
Resorts Casino Hotel was the casino that is first in Atlantic City, opening in 1978. Resorts was indeed a heavy contributor to the campaign to legalize gambling in New Jersey, supporting the referendum on the issue that had been passed by state voters in 1976.
Resorts are entering a gambling that is online in New Jersey that has been growing in recent months. In January, the state’s online gambling sites brought in $11.6 million, up over 22 per cent compared to the exact same month final year.
The only element of the state’s Internet gambling framework that appears to be struggling is online poker, which could be given a boost that is major PokerStars is allowed to start operations in partnership with Resorts.