Nyc Attorney General Looking Into Casino Bidding Process

Nyc Att<span id="more-2698"></span>orney General Looking Into Casino Bidding Process

Tioga Downs owner Jeff Gural is among anyone who has been approached by state investigators asking questions regarding nyc’s casino licensing process.

The nyc state attorney general’s workplace has apparently exposed an inquiry into just how the three web sites that had been recommended by the Gaming Facility Location Board had been chosen, and whether the putting in a bid process as a whole was fair.

In accordance with reports that are various investigators for brand New York Attorney General Eric Schneiderman have met with a few of this bidders who were a part of the casino selection process, seemingly to investigate whether conflicts of great interest or other problems were present during the selection.

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

That company merged with lawyer Shefsky & Froelich year that is last after which it became the lead gambling consultant for the location board. In total, five of the 16 casino bids mentioned ties to the firms as a potential conflict of interest.

Gural States Investigators Approached Him About Process

According to Tioga Downs owner Jeff Gural, he has spoken to investigators concerning the putting in a bid process. But though Gural has previously complained about the tier that is southern passed over and it has lobbied for his proposed casino to get a second look, he says he had not been wanting to allege any illegal activity into the process.

‘I didn’t reach out to the AG,’ Gural said. ‘It wasn’t my intent to grumble.’

Gural said that while he told detectives that he didn’t think any laws have been broken during the putting in a bid process, he did have questions about the potential conflict of interest caused by a fantastic bidder’s connections to that casino consulting firm, something he feels may not have been reasonable.

James Featherstonhaugh, an Albany lobbyist who worked with two bidders that are losing also stated that state investigators had contacted his clients in recent months. But, he offered feedback that were even softer compared to those of Gural, saying that while he had been disappointed in the results, he wasn’t accusing the location board of any impropriety.

‘We thought that the process was handled fairly and skillfully,’ Featherstonhaugh told this new 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 in the act 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 members,’ Park stated last month.

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

‘The casino sitting process strictly followed the provisions of the Upstate ny 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 webpage for anyone to examine.’

The investigation comes while the location board is preparing to deliver a report that is final the three sites chosen for gambling enterprises on Friday. On that day, the board is also expected to think about a formal request for allowing new proposals from the Southern Tier region, possibly allowing a fourth unused casino license to be awarded to a task here.

At as soon as, 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

Straight Back through the dead: Glenn Straub finally gets his arms regarding the shuttered Revel casino resort, which he plans to show into a casino-cum-center dedicated to life extension science. (Image:

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

Yes, after months of tortuous legal wrangling, property developer Glenn Straub has finally got his mitts regarding the stricken Revel Casino Resort in Atlantic City. He will 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 where in fact the brightest minds on earth can wander up and down the boardwalk ruminating on answers to global problems, such as ‘famine, cancer and waste that is nuclear,’ as Straub previously proposed.

Instead, it will become some sort of strange center specialized in the quest 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 ab muscles notion of Atlantic City being a casino town and that he would feel uncomfortable about profiting from gambling (although, provided Revel’s history, there would appear to be little chance of that), Straub has tantalizingly revealed that the unsuccessful 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 could help a lot of people,’ added Straub of Revel’s forthcoming life-extension facilities. ‘We’ll provide you with a of knowledge and maybe extend your life. week’

A factor that may 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 have been the first ‘stalking horse’ in Revel’s bankruptcy auction, establishing the base bid at $90 million, the auction was sooner or later won by the company that is canadian Asset Management, by having a bid of $110 million.

Energy Bills from Hell

But Brookfield balked and bolted whenever it saw the energy that is annual of $36 million. In contrast, the Borgata, which has twice as numerous resort rooms and a larger casino floor, paid $11.7 million last year in energy costs.

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

When the ongoing business ran away from money, however, the plant was taken over by ACR, which demanded a 15 percent return on its equity into the first 5 years and 18 percent 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 Hotel Joins New Jersey Online Gambling Fray

Resorts will end up being the casino that is fifth in Atlantic City to start an online gambling site in the state of the latest Jersey. (Image: Donald Kravitz/Getty Pictures)

Resorts Casino Hotel may rank last among the remaining Atlantic City gambling enterprises in terms of revenue, but that is not stopping them from jumping directly into the online gambling world.

This week, Resorts will become the fifth Atlantic City casino company to provide gambling that is online the state of the latest Jersey. With a little fortune, they may even be joined by an extremely powerful partner within the days or months in the future.

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.

Meaning the casino’s online gambling sites are going to be completely operational on Thursday, just a week Resorts received their transactional waiver from the nj-new Jersey Division of Gaming Enforcement (DGE).

Resorts Boasts Range that is wide of 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 Hotel.

‘With SNG’s versatile gaming solutions and exclusive game content, we’re excited to introduce European countries’s industry-leading casino slots and dining 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, just the Borgata (partnered with partypoker) and Caesars (with 888 Holdings) offer online poker.

That’s not something that Resorts can boast appropriate from the gate. However, they are likely to enter cyberspace poker landscape sooner rather than later. Resorts has a partnership that is existing with 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 indications that the business could gain a New Jersey permit quickly, which may likely make Resorts a formidable competitor in the online 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 powerful online gaming brands in the world,’ reads an FAQ web page for Resorts. ‘This means Resorts will be providing New Jersey with the best casino that is online poker sites with the industry’s best products.’

For now, though, the focus shall be on supplying casino services and products. According to Resorts, their web site will ‘feature the biggest selection of casino slots and table games in hawaii of brand New Jersey also exclusive games and highly coveted content which can be unavailable anywhere else.’

Resorts Casino Hotel was the first casino built in Atlantic City, opening in 1978. Resorts had been a contributor that is heavy the campaign to legalize gambling in brand New Jersey, supporting the referendum on the issue that had been passed away by state voters in 1976.

Resorts will be 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 % when comparing to the exact same month last year.

The actual only real section of hawaii’s Internet gambling framework that appears to be struggling is online poker, which could get a major boost if PokerStars is permitted to begin operations in partnership with Resorts.