Support Dropping for Massachusetts Casinos, Poll Says

Even in the best of times, the idea of allowing large casino resorts in Massachusetts was a controversial one. Still, the residents of this state seemed to support the idea generally at least until recently. Now, a new poll has shown just exactly how far support for the casino law has fallen.
Anti-casino sentiment is growing throughout Massachusetts. (Image: AP)
Based on a poll released this week by Suffolk University and the Boston Herald, only 37 percent of Massachusetts voters now support having casinos into the state, while 47 per cent oppose the idea (15 per cent were undecided). That’s a shakeup that is huge the state’s opinion of expanded gambling: as recently as February, 51 % of voters said that they were in support of the new casinos.
Prospective Repeal Vote Looms
If most people’s viewpoint of the casino law wasn’t considered specially important in the past, that view could easily change later this year. Massachusetts’ Supreme Judicial Court is debating whether a measure to repeal the casino law must certanly be allowed for a statewide ballot in November, plus the new numbers suggest that voters might kick the casinos out from the state if offered the opportunity.
‘It seems as if you’ve possessed a major shift in opinion because the reality of casinos and the regressive nature of what happens with the placement of casinos in Massachusetts in addition with a of this social issues,’ stated David Paleologos, director associated with Suffolk University Political Research Center.
Casinos Cite ‘Fatigue’ Among Residents
Casino officials attempted to put a positive spin on the numbers at least to the level that they could. There have been lot of issues in the certification and approval process, and MGM Springfield spokesperson Carole Brennan said that stories about those battles may have temporarily soured the public on gambling enterprises in general.
‘A long licensing process may have resulted in casino fatigue for many residents of the Commonwealth,’ she stated in a statement. ‘But our company is optimistic that MGM Springfield will be designated the Western Mass licensee quickly and that may show voters that thousands of new jobs and strong economic opportunities are real outcomes, not just slogans.’
The Suffolk poll also asked about where a Greater Boston region casino would make sense: either in Revere or Everett. Revere had been favored, but that isn’t to express it was popular statewide; only 18 per cent stated they thought Revere made sense being a casino location, in comparison to five percent for Everett. An impressive 56 percent said that neither location made sense to them.
For anti-casino activists, this reinforced the idea that folks were taking into consideration the whole state, rather than just their towns.
‘I think the tied as turned,’ said Steven Abdow, a leader of Repeal the Casino contract. ‘ People realize more and more that they wouldn’t want one in their community…and the issue’s not really about my garden, it is in regards to the state.’
Although the numbers aren’t great, none of which means that casinos in Massachusetts are doomed. It’s likely that the state gaming commission will award MGM a license in the following few days, and the courts may well rule that the casino repeal question can’t show through to the ballot. Even if it does, there could be voters whom are not happy about the gambling enterprises, but wouldn’t get so far as to vote for rescinding licenses from the casinos and the casino designers would have plenty of time for you to introduce another PR blitz to mention their case before voters went back again to the polls.
PokerStars Buyout by Amaya Gaming Imminent; Stock Trades Halt
Rumors of an imminent acquisition by Amaya Gaming of PokerStars could be a major game-changer into the US online poker market. (Image: codigopoker.com)
After a hefty 28.7 percent two-day stock spike, Canadian technology group Amaya Gaming’s stock trading ended up being halted amidst industry rumors of an imminent PokerStars buyout a rumor that’s been circulating for a number of months now. With hints that global investment underwriter Blackstone Group is behind the $1 billion capital of the key acquisition, it appears the deal could be announced formally within a day, although nobody from any facet of the deal has commented as of the writing.
It’s believed that the motivation for the buyout that is vital to provide PokerStars and parent company Rational Group a better chance at the US online gaming market. Ever since the events of Ebony Friday as well as the ensuing Department of Justice difficulties with several key numbers who still have some PokerStars involvement, that integrity cloud has hovered over the major Internet player, and to date, has precluded their re-entry in to the potentially massive online poker market that is american.
With Amaya’s name in the doorplate, PokerStars may look more desirable to regulators who are wary of anything even somewhat off-base in the current precarious and ever-changing online gaming market; New Jersey recently made their ‘nothing but regulated internet sites’ stance clear as a bell, and that seems to be the directing tenet in the online gaming stratosphere right now.
Blackstone has been a choice that is natural an investment partner for Amaya in the buyout, having formerly funded the business’s Cadillac Jack purchase a slot maker for a far more modest $167 million, via Blackstone’s credit unit, GSO.
PokerStars Comes Back to Life with Amaya Gaming Buyout
With a $4.9 billion purchase cost, Amaya Gaming’s buyout of Rational Group and PokerStars helps it be a monster within the gaming industry that is online. (Image: PokerStars)
They say the opera ain’t over till the fat lady sings, however in this case, you might change that to ‘fat cat,’ and possibly have a more accurate story line. The Rasputin of online poker sites industry giant PokerStars, under the umbrella of its parent, Rational Group may rise like the now phoenix on the American poker scene once again, following a dramatic $4.9 billion buyout by Canadian technology company, Amaya Gaming.
The buyout also incorporates Full Tilt Poker, of course, which was purchased by PokerStars just two summers ago, in 2012, for $731 million, as an ingredient of its settlement handle the feds. With the enormous purchase, Amaya becomes the single largest publicly traded online gambling company on the world, offering it a power that may likely soon be felt across the United States like an earthquake.
Not Blackstone As Rumored
Despite previous rumors that global financing ensemble Blackstone Group was the money behind the purchase, that was not the full case; backing will be spread among well-known gaming money outfits Deutsche Bank (which recently release the Cosmopolitan on the Las Vegas Strip, to, ironically, Blackstone Group), Macquarie Capital and Barclays Bank. That banking triumvirate represents some $2.9 billion in secured credit and loans, while another billion is coming from the issuance of convertible shares that are preferred.
The rest associated with the $4.9 billion sale price is coming from subscription receipts that will fundamentally convert to shares that are common as well as cash on hand straight from Amaya itself. The purchase gives Amaya 100 percent ownership of all outstanding stocks for the Oldford Group Limited, which is in turn Rational Group’s parent company.
Moving Shares and Stepping Down
An official pr release on the mammoth sale noted that all Oldford Group shareholders including CEO Mark Scheinberg will move their shares inside their entirety up to a ‘wholly owned subsidiary of Amaya.’ In addition, Scheinberg and other professionals at Oldford, Rational and any existing subsidiaries of these ongoing companies will be resigning.
The move appears to have been made with the primary goal of getting PokerStars and Full Tilt back into the regulated US online poker scene, a proposition that had been made nigh unto impossible due to ‘bad actor’ language in major legal Internet gambling states Nevada and New Jersey as well as being held as a definite possibility for impending legislation in California to no one’s surprise.
The pr release notes that the sale will ‘expedite the entry of PokerStars and Full Tilt Poker into regulated markets in which Amaya already holds a footprint, particularly the USA.’ Without the ubiquitous black cloud of Ebony Friday hovering above the online that is famous brands’ heads, PokerStars and Comprehensive Tilt should finally be capable of geting back to the company of being running a business in America.
Amaya CEO David Baazov sounded just like a experienced politician in his press release comments about the progress.
‘Mark Scheinberg pioneered the online poker industry,’ Baazov said. ‘Working using the experienced executive team at Rational Group, Amaya will carry on that tradition of excellence and accelerate growth into new areas and verticals.’
Amaya has also assured players at both PokerStars and Full Tilt which they anticipate no jarring changes in the essential formats of the sites, nor do they expect any disruption of service.
MGM Awarded First Massachusetts Casino License
Officials in this Massachusetts city hope that MGM Springfield can bring economic advantages without disturbing the city’s historic downtown area. (Image: MGM)
The Massachusetts Gaming Commission gave approval to issuing a license to MGM for the company’s $800 million casino resort proposal in Springfield after years of debates, delays, protests and meetings, it’s official: today. But in one of the more contentious gambling expansions in the usa, even that is coming with some contingency plans just in situation things don’t go quite since planned.
Now hawaii’s Supreme Judicial Court must decide by July 9 whether to allow a state ballot concern that could potentially repeal permitting land casinos in Massachusetts at all.
Fees Delayed Due to vote that is potential
But, the decision includes some conditions that MGM asked for as a result of the situation that is uncertain Massachusetts. Even though the casinos certainly have the side (whenever do they maybe not?), the prospect of a potential repeal vote for the casino law this November has at least opened up the possibility that MGM and other licensees may never get to build their resorts.
With the outcome of both that court decision and a potential vote that is statewide, MGM has been given several delays in paying their certification charges.
Usually, the $85 million certification cost would approximately be due 30 days following a license was awarded. Should the courts rule that the repeal question won’t show up on the ballot, that deadline will largely stay intact: MGM would have until mid-July to make their re payment. But should the question go on the ballot, the organization won’t be expected to pay the fee unless the measure is defeated. This is designed to protect the business from a potentially non-refundable cost should the state’s voters end the casino expansion plan.
‘We’re going to do business with [MGM] to accommodate these other eventualities. These are just accommodations that are business-like these realities,’ said Gaming Commission Chairman Stephen Crosby.
MGM Springfield President Michael Mathis agreed that adjusting the fee framework ended up being critical to the task moving forward.
‘Many recognize the difficult situation that we are in,’ Mathis stated. ‘ We should get to operate also to get this project going.’
State Hopes for Economic Benefit, Out-of-State Gamblers
Massachusetts hopes that the MGM Springfield will not only be able to help to keep gamblers from the certain area in the state, but also that it will attract gamblers from Connecticut and ny that currently travel to the two Connecticut gambling enterprises, Foxwoods and Mohegan Sun. They also expect it to help lift the fortunes of a city that is struggling.
‘The MGM proposition is a truly ambitious and effort that is unusual utilize the economic muscle of a casino development to drive redevelopment of a entire depressed urban area,’ Crosby said.
MGM additionally had to agree with a conditions so as to get the license. The video gaming commission proposed that the casino hire at least 35 per cent of their employees from Springfield, and that the casino minimize its interference regarding the downtown area during construction. MGM stated that they did perhaps not object to these terms.
‘MGM is very appreciative of today’s…vote to honor us the Western Massachusetts permit,’ said MGM Springfield spokesperson Carole Brennan in a declaration.