New Jersey Regulators: ‘We Can’t Make Casinos Stay Open

 New Jersey Regulators: ‘We Can’t Make Casinos Stay Open

Caesars intends to close the Showboat in Atlantic City on August 31; three other brand New Jersey casinos are also shutdowns that are facing. (Image: Atlantic-City-Guidebook.com)

With four Atlantic City casinos potentially closing this year, many within the town also greater New Jersey are understandably shocked. Keeping those casinos open only a longer that is little help soften the blow a little giving employees and officials more time to plan for the future. But while that might be nice, state officials state they cannot force those casinos to remain in procedure if the properties want to turn off.

New Jersey state casino regulators have said which they cannot force two casino owners to stay open for the additional four months while they wait to see if new buyers can be found. The two casinos, the Showboat and Trump Plaza, are both expected to close this summer.

Private Business Decision

Final month, State Senator James Whelan, along with Assemblymen Vince Mazzeo and Chris Brown, had asked the brand New Jersey Casino Control Commission (NJCCC) to force both of the casinos to stay open for a number of months past their intended closing dates. But, NJCCC Chairman Matthew Levinson wrote right back earlier this month to state that determining a closing date is a decision that belongs to those organizations alone, and sits far beyond the commission’s authority.

‘ The commission simply does not have the authority to di Read more

Atlantic City Trump Plaza Likely to Close in September

Atlantic City Trump Plaza Likely to Close in September

Trump Plaza’s shutdown will signify as four Atlantic City casinos could be closed this year. (Image: Lisa Andres/Flickr)

The casino industry of Atlantic City is presently facing an unprecedented freefall. After several years of declining revenues, at least two casinos have already closed or plan to close in 2010, and another is facing a second bankruptcy in 2 yrs. And now, a fourth has stated that they also expect you’ll shut straight down in just a couple of months.

That is the apparent fate of the Trump Plaza casino, as Trump Entertainment Resorts has said that they anticipate the venue to close on September 16. As the owners reportedly said that the choice isn’t entirely final, employees had been to receive warnings regarding the expected closing on early in the day this week.

‘Although [the] review has not been completed and no ultimate decision has been made, the company expects that it will end the operations of Trump Plaza Hotel and Casino on or shortly after September 16, 2014,’ the business told the Associated Press.

Trump Plaza Joins Other AC Closures

If the closure goes through as expected, the result could be that as many as a third of Atlantic City’s casinos could close down this year. In January, the Atlantic Club shuttered its doors, while the Showboat is likely to close in August. Meanwhile, the Revel happens to be in bankruptcy court for the 2nd time, and may potentially shut if a buyer for the prope Read more

Chauffer Suspect in Murder of Taiwanese Mogul Shih Chia-chin

Chauffer Suspect in Murder of Taiwanese Mogul Shih Chia-chin

Hsieh Yuan-hsin could be the main suspect in the kidnapping and murder of Shih Chia-chin. (Image: Taiwan police)

Taiwanese online gambling ringleader Shih Chia-chin may not be a household title in the world wide web betting community, but he was infamous in his home nation for the wealth he received by running his internet sites. Now, his kidnapping and murder have actually surprised the island nation. Shih’s body was discovered Sunday evening in Tainan County by police. He was allegedly murdered after being kidnapped by his chauffeur and a few others on August 18.

Chauffeur Abducted Shih at Airport

On that day, Shih was acquired at the Taoyuan airport near Taiwan by their chauffeur, Hsieh Yuan-hsin. Just three hours later, the accountant at Shih’s business received a phone call saying that Shih had been demanding and kidnapped a ransom of TW$50 million ($1.67 million). Shih’s family attempted to negotiate with the kidnappers, eventually agreeing to wire TW$30 million ($1 million) to three bank that is separate.

When the family still don’t hear from Shih, they contacted the authorities for assistance later that day. Hsieh apparently made a try to withdraw the transferred ransom quickly thereafter, but fled when he was asked to provide identification at the bank.

Hsieh Flees to Thailand

Despite efforts from prosecutors whom issued a warrant to bar him from leaving the country, Hsieh managed to board a flight to Thai Read more

Month Macau Casino Revenues Down for Third Straight

Month Macau Casino Revenues Down for Third Straight

Macau casinos’ gaming revenues were down for the third month that is consecutive August. (Image: TripAdvisor.com)

Macau casino revenues may not be as dazzling as in years past, but the Chinese enclave is in no risk of losing its position as the globe’s gambling hub that is largest. Every day in terms of pure revenues, Las Vegas and other cities simply can’t compete with the tremendous amounts of money that are thrown around at Macau’s baccarat tables. But in terms of what seemed like the endless development for the area, it seems that the party may be over.

For the third right month, Macau’s gaming revenues fell on a year-over-year basis. For August, the drop was 6.1 percent in comparison to 2013, a tumble blamed on a continued campaign against corruption that has hurt the movement of cash from mainland China.

Natural Numbers Still Good, But Growth Has Stopped

That drop won’t be making the gambling enterprises in Macau cry poor anytime quickly, however. They still introduced 28.9 billion patacas ($3.6 billion) the thirty days. But analysts had predicted only a 2 percent decrease in gambling profits, making the size of the decrease something of a surprise at significantly more than 3 x that number.

The casino market in Macau has usually relied heavily on VIP gamblers who might spend hundreds of thousands or even millions of dollars in a visit that is single. That market is feeling the strain of a anti-corruption campaign Read more

Macau Casino Workers Want Better Pay. Macau workers are demanding better pay

Macau Casino Workers Want Better Pay. Macau workers are demanding better pay from the gambling enclave’s casino operators.

Macau casinos are consuming money hand over fist. Although the rate of growth is slowly, revenues continue steadily to rise in the gambling that is chinese, which takes in about seven times as much in casino winnings as Las Vegas each year. This suggests that there should be enough money to go around for everyone in the industry, but casino workers say that the wide range isn’t finding its means into their pockets.

Workers at Galaxy Macau planned a protest week that is last the resort in reaction to a neighborhood trade union’s allegations that salaries at the resort had been ‘disrespectful’ with a workers. That follows protests an earlier at the venetian, which is owned by the las vegas sands week.

‘For both Galaxy and Sands we are not governing away a strike,’ said Ieong Man Teng, president of a labor that is local referred to as Forefront of Macao Gaming. Local media reports have actually suggested that August 28, which may be the Venetian’s anniversary, could be an attack.

Foreign Workers Barred From Many Jobs

In Macau, casino workers have fair amount of leverage thanks to labor regulations which do not enable foreigners to work at casino tables. Who has created an environment where locals enjoy an unemployment price of just 1.7 per cent, plus in which casinos must offer wages that are competitive order to retain their staff. That leverage is o Read more