Nyc Attorney General Looking Into Casino Bidding Process

Nyc Att<span id="more-1528"></span>orney General Looking Into Casino Bidding Process

Tioga Downs owner Jeff Gural is among those people who have been approached by state investigators asking questions about nyc’s casino licensing process.

The New York state attorney general’s workplace has apparently opened an inquiry into just how the 3 web sites that had been recommended by the Gaming Facility Location Board were selected, and whether the bidding process in general was fair.

In accordance with reports that are various investigators for New York Attorney General Eric Schneiderman have met with some regarding the bidders who were part of the casino selection procedure, apparently to investigate whether conflicts of interest or other problems were present during the selection.

According to a report by Central New York Media, the 3 bidders that are winning had ties to Taft, Stettinius & Hollister.

That company merged with law firm Shefsky & Froelich final year, after which it became the lead gambling consultant for the place board. In total, five of the 16 casino bids mentioned ties to the firms as a possible conflict of interest.

Gural Says Investigators Approached Him About Process

According to Tioga Downs owner Jeff Gural, he has spoken to investigators in regards to the putting in a bid process. But though Gural has previously complained concerning the Southern Tier being passed over and has now lobbied for his proposed casino to acquire a 2nd look, he claims he was not trying to allege any illegal activity into the process.

‘we did not get in touch with the AG,’ Gural said. ‘It was not my intent to complain.’

Gural stated that while he told detectives that he didn’t think any laws have been broken during the bidding process, he did have concerns about the potential conflict of great interest caused by a winning bidder’s connections compared to that casino consulting firm, something he feels might not have been fair.

James Featherstonhaugh, an Albany lobbyist who worked with two losing bidders, also said that state investigators had contacted his clients in recent weeks. Nonetheless, 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 handled fairly and expertly,’ Featherstonhaugh told the newest York circumstances. ‘We want we had won. But we didn’t.’

Location Board Says Process Was Fair and Transparent

According to location board spokesperson Lee Park, Taft’s part along the way was only to compile submitted materials into more summaries that are easily comparable board members might use.

‘Taft had no direct input into decision-making of the board users,’ Park said last month.

In a declaration dilemmas Monday, Park reiterated that the process had been fair and followed the guidelines established by New York’s casino legislation.

‘The casino process that is sitting followed the conditions 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 conflicts of interest, are available on our web site for anybody to examine.’

The investigation comes as the location board is preparing to supply a report that is final the three sites chosen for casinos on Friday. On that day, the board can be likely to look at a formal request for allowing new proposals from the Southern Tier region, possibly allowing a fourth unused casino license to be granted to a project there.

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 at the moment.

Revel Sold To Florida Billionaire Straub For $82 Million

Right Back through the dead: Glenn Straub finally gets their fingers in the shuttered Revel casino resort, which he plans to show into a casino-cum-center devoted to life extension science. (Image: wsj.com)

Sold, to the eccentric Florida billionaire within the front line: one gigantic, doomed casino resort that leaks $2 million a week. Stunning views of this coastline.

Yes, after months of tortuous legal wrangling, home developer Glenn Straub has finally got his mitts regarding the stricken Revel Casino Resort in Atlantic City. He shall spend $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 where the brightest minds in the world can wander up and down the boardwalk ruminating on solutions to worldwide issues, such as ‘famine, cancer and nuclear waste storage space,’ as Straub previously proposed.

Instead, it will be some type of strange center dedicated to the search for eternal youth, or ‘life-extension science,’ to utilize the terminology that is preferred. We imagine this really 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 being a casino town and that he would feel uncomfortable about profiting from gambling (although, provided Revel’s history, there would seem to be little chance of that), Straub has tantalizingly revealed that the unsuccessful casino property will reopen as a casino. Albeit a strange one. This week: ‘It’s a pity perhaps not to own some entertainment. after all, as he explained to Bloomberg’

‘ I think we can help a complete large amount of people,’ added Straub of Revel’s forthcoming life-extension facilities. ‘We’ll offer you a of knowledge and maybe extend your life. week’

An issue that may have been instrumental in Straub compromising his convictions about gambling enterprises could be the crippling energy bill that’s tagged onto Revel. While Straub was in fact the initial ‘stalking horse’ in Revel’s bankruptcy auction, establishing the bottom bid at $90 million, the auction had been ultimately won by the company that is canadian Asset Management, having a bid of $110 million.

Energy Bills from Hell

But Brookfield balked and bolted when it saw the annual energy bill of $36 million. In contrast, the Borgata, which has two times as many hotel spaces and a bigger casino floor, paid $11.7 million a year ago in energy costs.

The property gets its power from a plant that is adjacent owned by ACR Partners LLC, that was built especially for that function and with Revel is its sole customer. Revel AC Inc began building the charged power plant whenever work began on the home, in 2008.

When the ongoing company ran out of money, nevertheless, the plant was taken over by ACR, which demanded a 15 percent return on its equity in the first 5 years and 18 per cent after that. 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 become the casino that is fifth in Atlantic City to open an online gambling site in the state of New Jersey. (Image: Donald Kravitz/Getty Pictures)

Resorts Casino Hotel may rank last among the remaining Atlantic City casinos in terms of income, but that’s not stopping them from jumping right into the online gambling world.

This week, Resorts becomes the fifth Atlantic City casino company to provide gambling that is online the state of the latest Jersey. With a little luck, they might also be joined by an extremely powerful partner in the weeks or months in the future.

Resorts will end their five-day evaluation duration on Wednesday, the second of two full times of procedure that follow three partial days of gaming.

That means the casino’s online gambling sites will likely be entirely operational on Thursday, just a week Resorts received their transactional waiver from the nj-new Jersey Division of Gaming Enforcement (DGE).

Resorts Boasts Variety of Casino Games, No Poker at Launch

‘As New Jersey’s first casino destination, Resorts is committed to delivering the best-in-class gaming that is online 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 resort.

‘With SNG’s versatile gaming solutions and exclusive game content, we’re excited to introduce Europe’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 offering casinos that are online New Jersey. Right now, just the Borgata (partnered with partypoker) and Caesars (with 888 Holdings) offer online poker.

That’s not a thing that Resorts can boast right out of the gate. Nevertheless, they’re prone to enter cyberspace poker landscape sooner rather than later. Resorts has an existing partnership agreement with all the Rational Group, the parent company of PokerStars and Full Tilt that is now owned by Amaya Gaming.

While Amaya’s licensing application happens to be delayed, there were signs that the company could gain a fresh Jersey license quickly, which would likely make Resorts a formidable competitor into the online poker sphere.

PokerStars, Full Tilt Could Provide Games if Licensed

‘Resorts has built a relationship that is exclusive PokerStars and Full Tilt Poker, two of the most extremely popular and effective online gaming brands on earth,’ reads an FAQ page for Resorts. ‘This means Resorts will be providing New Jersey with the best online casino and poker web sites with the industry’s most acceptable products.’

For now, though, the focus shall be on providing casino services and products. According to Resorts, their site will ‘feature the largest selection of casino slots and table games in hawaii of New Jersey as well as exclusive games and highly coveted content that are unavailable anywhere else.’

Resorts Casino Hotel was the first casino built in Atlantic City, opening in 1978. Resorts had been a heavy contributor to the campaign to legalize gambling in New Jersey, supporting the referendum on the issue that had been passed https://casino-bonus-free-money.com/titanic-slot/ by state voters in 1976.

Resorts is entering an online gambling market 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 percent in comparison to the same month year that is last.

The only section of the state’s Internet gambling framework that seems to be struggling is online poker, which could be given a major boost if PokerStars is permitted to start operations in partnership with Resorts.