Online Casino Edition – Casino News News about online casinos and gambling

June 24, 2014

The New MGM Springfield Casino

Filed under: Casino — Tags: — OCE News @ 7:43 am

Massachusetts does not currently have a casino licensed to run inside of the state. However, that is all set to change soon as the brand new MGM Springfield Casino is set to open. With many of the same features you are going to find in Las Vegas, if you live in the area and enjoy gambling, or are simply looking around for something new and exciting to do, the MGM Springfield is there, ready for you. You just need to now what it is able to offer you.

As of right now, the MGM Springfield is going to cost around $800 million to construct and the large complex, which is going to not only be a casino but a hotel, shopping complex and entertainment district is going to cover 14/5 acres through the downtown region of Springfield. This is one of the regions of the city heavily hit with job loss during the recent economic downturn, so the hope is to bring new jobs and money into the area through the development of the large casino. There are a number of historic buildings the casino is planning on reusing, or at lease remodeling, when constructing the casino. This way, it is still going to have a somewhat familiar feel to the building, yet also provide something new as well. For individuals who are not interested in gambling, the MGM Springfield is also going to feature a public plaza with an ice skating rink, bowling alley and movie theater.

In terms of the economic impact, it is believed the MGM Springfield is going to employe around 2,600 temporary construction workers throughout the course of construction. It is also going to bring in at least 3,000 additional employees to work the entire casino and the rest of the facility. It is also going to bring in a large amount of money for the local government as well, with MGM paying the city of Springfield $15 million up front and another $25 million paid every year, not to mention an additional $2 million to eight different surrounding communities up front and another $1.5 million paid out every year to these different communities. MGM is also stating it is going to purchase at least $50 million in products, services and goods from local businesses as well, so local businesses should see an improvement in business thanks to the new casino.

As of right now, it is believed the construction is going to take around two years to complete. It also has a large number of fees to pay to the state of Massachusetts Gaming Commission as well. Right now, it is believed the casino needs to pay up to $85 million for state licensing fees, although the commission is looking to offset this and allow MGM to pay this over time. Currently, MGM has paid around $5 million for the assessment of the gambling license, although it is still waiting on official approval from the state to go ahead with construction.

June 23, 2014

Come One, Come All: Golden Nugget Is Finally Here!

Filed under: Casino — Tags: , — OCE News @ 7:22 am

GAMING SITES IN NEW JERSEY IS NOW UP TO 14

Back in November, New Jersey officially opened up their revenue to include online gambling. Golden Nugget, however, missed the opening day. They had been delayed to some issues. These issues weren’t that big. But some technical problems were found during the test period. So they missed the first few days, unfortunately.

The New Jersey Division of Gaming Enforcement did finally give them the green light. That means the issues they were having, had been resolved. Making them clean and clear, ready for business. Golden Nugget could now offer their customers everything they had been promising them.

Now there was some catching up to. This was due to the sole fact that other competitors has placed themselves in the top position. When you miss an opening, this is one of the disadvantages that you face. But Golden Nugget is up to the challenge. They are already proving they are big enough to swim in the big pond, with the big fishes.

IT WAS WORTH IT TO DELAY THE OPENING

According to the owner, the choice to wait was a good one. If you open with a less-than-perfect product, it can damage the image of the company. This can be a bad thing in the long run. If the company image is damaged at the start of the race, sometimes it’s hard to recover from that, when compared to anything else.

So delaying the site was actually a better move to make on the part of Golden Nugget. When you consider all of the other competition, the delay was worth it, just ask the owner. The delay was not going to keep them from the top position they had been holding all of these years.

Golden Nugget is still one of the biggest faming sites. It already has plans to open up a virtual poker room this year/

NEW METHODS

One of the obstacles Golden Nugget still continues to face is with the banking methods. These banking methods include transaction with credit cards. There are other sites that have this issue too, it’s not just Golden Nugget. With the hold-up of the credit cards, many are concerned that the government will step in to spoil the fun.

But Golden Nugget has come up with a viable solution to the problem, at least on their end.

The casino allows deposits by using a prepaid method, on the Discover card side. Nugget is the first and only casino to do this. You can order cards on the site, and the cards will be delivered to you in just a few days. With the prepaid method, you can have the money transferred to you that much quicker. This makes it easier to play.

With these new credit banking procedures in place through Nugget, they are confident that more players will come on board. New jersey already as thousands of new customers thank to Golden Nugget alone.

June 21, 2014

G.O.P Pushes For A Ban On Online Betting

Filed under: Casino — Tags: , — OCE News @ 7:21 am

There is a major war going on right now in the gambling world. Billionaire casino magnate, Sheldon Adelson, is pushing for a ban on online betting. This war is creating a great divide between the power groups in Washington, and the donations by the political interest groups.

WHO IS BEHIND ALL OF THIS

Adelson recently kicked off this push on Wednesday. He argues that online betting is bad for casinos and the gambling industry, as a whole. This bill would close the loophole. Many states have recently legalized online gambling. If this bill is pushed through, online gambling will be shutdown, indefinitely.

WHO IS SUPPORTING HIS EFFORTS

Senator Lindsay Graham recently endorsed Adelson’s bid to shut it all down. This comes on the heels of Graham accepting thousands of dollars in donations from Adelson’s own personal interest groups and other family members. Graham recently lobbied for this bill to be passed on Adelson’s behalf.

MR. ADELSON’S CLOUT

Mr. Adelson has already threatened to withdraw his support from many gambling groups, including the American Gaming Association. He threatened this recently, if the industry continued to back the efforts and support of online gaming.

Mr. Adelson is worth a reported $36 billion and he continues to lobby for many ideological issues of the Republican party. This is just one of the ways he shows his clout in politics and the industry itself.

AN ONGOING BATTLE

The casinos are gearing up for this ongoing battle. It seems that in the gambling industry there are only two sides. One side is for it, the other against it.

Mr. Adelson is already working on thing from his side too. He is getting a lot of support from other Republican leaders. He is also getting his support from some Democrats. The only Democrats supporting him, are those that feel a threat with online gaming. Some view this as a bad influence on minor. Mr. Adelson is using this to his own advantage.

THE GAMBLING INDUSTRY IS FGIHTING BACK

There are many who are siding with the gambling industry, including the Coalition for Consumer and Online Protection. The other unlikely resource for them is, former Republican house member Mr. Oxley. According to Oxley, “You can’t control the internet. The world has changed so much and there no good ever comes out of trying to control the internet.”

WHAT IS AT STAKE

For one, it’s the image. The gambling industry has been portrayed for a long time as family-friendly. But now, some worry that this fight could damage the reputation of the gambling industry, as a whole.

This fight is nothing new for the gambling industry. For a long time now, many have questioned whether or not online gaming should come to a close. Many have questioned if online betting is actually a good thing.

So for now, it seems as though the war is on. What will happen in the end? We will all have to wait and see.

June 19, 2014

Come One, Come All: Golden Nugget Is Finally Here!

Filed under: Casino — Tags: , — OCE News @ 7:19 am

GAMING SITES IN NEW JERSEY IS NOW UP TO 14

Back in November, New Jersey officially opened up their revenue to include online gambling. Golden Nugget, however, missed the opening day. They had been delayed to some issues. These issues weren’t that big. But some technical problems were found during the test period. So they missed the first few days, unfortunately.

The New Jersey Division of Gaming Enforcement did finally give them the green light. That means the issues they were having, had been resolved. Making them clean and clear, ready for business. Golden Nugget could now offer their customers everything they had been promising them.

Now there was some catching up to. This was due to the sole fact that other competitors has placed themselves in the top position. When you miss an opening, this is one of the disadvantages that you face. But Golden Nugget is up to the challenge. They are already proving they are big enough to swim in the big pond, with the big fishes.

IT WAS WORTH IT TO DELAY THE OPENING

According to the owner, the choice to wait was a good one. If you open with a less-than-perfect product, it can damage the image of the company. This can be a bad thing in the long run. If the company image is damaged at the start of the race, sometimes it’s hard to recover from that, when compared to anything else.

So delaying the site was actually a better move to make on the part of Golden Nugget. When you consider all of the other competition, the delay was worth it, just ask the owner. The delay was not going to keep them from the top position they had been holding all of these years.

Golden Nugget is still one of the biggest faming sites. It already has plans to open up a virtual poker room this year.

NEW METHODS

One of the obstacles Golden Nugget still continues to face is with the banking methods. These banking methods include transaction with credit cards. There are other sites that have this issue too, it’s not just Golden Nugget. With the hold-up of the credit cards, many are concerned that the government will step in to spoil the fun.

But Golden Nugget has come up with a viable solution to the problem, at least on their end.

The casino allows deposits by using a prepaid method, on the Discover card side. Nugget is the first and only casino to do this. You can order cards on the site, and the cards will be delivered to you in just a few days. With the prepaid method, you can have the money transferred to you that much quicker. This makes it easier to play.

With these new credit banking procedures in place through Nugget, they are confident that more players will come on board. New jersey already as thousands of new customers thank to Golden Nugget alone.

June 17, 2014

Foxwoods and Fall River Preparing to Outfox Themselves?

Filed under: Casino — Tags: , — OCE News @ 7:15 am

The New England region and the state of New York have recently been busy with legislation to increase the number of state operated casinos in the region. One reason is revenue. States across the country are looking for new sources of revenue as a result of the economic downturn that started back in 2007. Another reason is very simple – demand. As the economy begins to warm up, the amount of discretionary and recreational income will increase, opening the doors for the creation of new entertainment venues.

Currently, Maine, Vermont, and New Hampshire have excluded themselves from the regional casino build-up, citing lack of public support or damage to their tourism industry as key reasons. Rhode Island has a casino or two but does not seem interested in further expansion at this time. Connecticut has Foxwoods, the region’s largest casino-retail-hotel complex, spanning over 30 acres, along with several other worthy state competitors. But Foxwoods stands out from the other regional casinos in other ways – mostly bad.

Reports over the last few years have Foxwoods in the middle of several controversies. Among them are complaints of mismanagement and a general decline of the casino property. Recently it was reported that one of the casinos was reducing its hours of operation, and rumors of employee layoffs began shortly afterward. (http://www.boston.com/news/local/connecticut/2014/05/15/foxwoods-cut-casino-hours-layoffs-possible/rQtmdTC1qsVvM91KRm95xI/story.html?rss_id=Top-GNP) There are qualified opinions that Foxwoods has financially operated over its head for a number of years and has problems controlling its debt load. (http://online.wsj.com/news/articles/SB10001424127887323689204578574104047610468) The oncoming train may be ready to strike.

With Massachusetts now opening the door for state run casinos, Foxwoods appears to be looking for partners to cross the border with and expand their operation. Fall River, located in southeast Massachusetts, hopes to team up with Foxwoods to grab a sizeable chunk of the available gaming money in the Boston area. The current plan is to expand the original idea of a 30 acre Fall River site to a 120 acre site. The idea for a larger site may be good, but the selection of Foxwoods as the partner seems unusual given its history.

According to the Hartford Courant, Will Flanagan, the mayor of Fall River, has worked closely with Foxwoods to arrive at a deal. The plans are in the early stages and there has yet to be a proposal drawn up to put before the Fall River voters. (http://www.courant.com/business/hc-foxwoods-fall-river-120-acres-20140519,0,6511046.story)

What also has yet to be seen is the answer to why Mayor Flannigan would invite such a partnership given the public problems of Foxwoods. The history is that Foxwoods has had to refinance its debt several times over the last 8 years in order to keep running. Investing in any new casino is a roll of the dice, but the question is what happens to a failed Fall River casino and its residents?

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