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Illinois Senate Approves Casino Expansion But ‘Grand Bargain’ is appearing a Hard Bargain – CCYMedia

Illinois Senate Approves Casino Expansion But ‘Grand Bargain’ is appearing a Hard Bargain

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Illinois Senate Approves Casino Expansion But ‘Grand Bargain’ is appearing a Hard Bargain

Illinois Senate Approves Casino Expansion But ‘Grand Bargain’ is appearing a Hard Bargain

The Illinois Senate approved a bill a week ago that would authorize six brand new land-based gambling enterprises within the state, however the proposal is stuck in limbo until lawmakers agree on a slew of other economy-boosting bills to go along side it.

Illinois State Senator Terry Link is the driving force behind major casino expansion legislation approved by the Senate final week. However, unless lawmakers agree on the rest for the Grand Bargain it’s going nowhere fast. (

This is Illinois’ so-called ‘Grand Bargain,’ a package that is legislative hopes to bring an end to its spending plan impasse and institute a group of policies aimed at repairing its monetary mess.

The stand-off that is two-year investing between the Democratic-controlled House plus the state’s Republican Governor Bruce Rauner, is the longest any state has gone with no investing plan in almost a century.

It is likely to on a bit longer, too, because, last Wednesday, much of the compromise that is sprawling had been pulled within the Senate, with Senate President John Cullerton (D-Chicago) accusing Rauner of ‘injecting himself to the procedures’ and hijacking the bi-partisan deal, which had been months into the making.

War on Illinois

However the casino that is proposed, if enacted, would be transformational for Illinois’ gambling sector, ushering in a completely new era of casinos on dry land. Presently, casino gaming is restricted to riverboats along Lake Michigan while the Illinois River, a nod to your state’s colorful 19th Century gambling history.

The bill would permit, for the first time, a casino in Chicago itself, the Windy City having previously been off limits because of competition with local racetracks.

Five other regions have been earmarked for casinos, at yet-to-be-determined locations in Lake County, Rockford, Danville, Cook County, and Williamson County.

Senator Dave Syverson (R-Rockford) said last week Illinois is losing $1.6 billion in gambling revenue because casino expansion in neighboring states is drawing residents and their hard-earned dough across the state line.

‘We’re surrounded by five states that have declared war on Illinois and they are building casinos on our edges,’ he stated.

Money to Be Made

According to Senator Terry Link (D-Waukegan), the driving force behind legislation, research recommends that the new casinos would bring the state nearly $1 billion in set-up fees alone. The Chicago property, and the ones in its suburbs, would pay a license fee of $100,000 plus $30,000 per gambling position; i.e, for each slot machine or table game seat.

‘The doors would most probably for conventions, which can be one thing that southern Illinois does not have,’ added Senator Dale Fowler (R-Harrisburg).

However, others pointed out that expansion might have a detrimental effect on

current riverboat casinos, which currently give 50 per cent of their revenues towards the state, which may mean actual tax revenues figures may not be quite as pretty as have projected.

The riverboats, nonetheless, would be permitted to accommodate 400 more slot machines as compensation, while the bill would authorize slots at also four horse racing tracks, also as at Chicago airports.

South Korea Gambling Revenue Tops $17 Billion in 2016

South Korea gambling revenue surged in 2016 despite a downturn that is economic the country. In accordance with the Yonhap News Agency, the nation’s largest media outlet, revenue through the lottery, casinos, and horse race sectors totaled 20.3 trillion won ($17.6 billion) last year.

That represents a 7.7 percent year-over-year increase.

Casinos expanded under ousted President Park Geun-hye’s reign, and while residents are barred from entering most wagering establishments, South Korea gambling is alive and well. (Image: Jung Yeon-Je/Getty Images)

Korean law prohibits its citizens from participating in most forms of gambling. Residents are allowed to enter just one associated with the 17 casinos that are land-based South Korea, as the rest are foreigner-only facilities. Kangwon Land, a state-operated resort in Gangwon, is the only casino nationals can gamble in.

The south Korean economy has gone in a different direction while 2016 was a good year for gambling.

‘Due to depression that is economic people tend to imagine making a fortune at one stroke,’ Seoul National University Professor Kwak Geum-joo stated.

Very nearly half of this country’s economy utilizes the export of goods and services, primarily electronics and cars. But China has trapped in being capable of producing similar technical devices at reduced prices, which in change is driving demand down.

Lottery Winners

South Koreans are permitted to have fun with the lottery, and also permitted to participate in the ‘toto,’ pari-mutuel and fixed odds sports betting.

The Journal of Gambling Studies discovered in its 2012 report titled ‘The Effect of Recessions on Gambling expenses’ that only lottery ticket sales were recession-proof. And in 2016, South Korea’s lottery rendered that concept true.

The lottery generated nearly $3.8 billion in revenue year that is last more than nine percent better than its prior year performance.

Lottery’s growth outpaced the other gambling that is legal, as Kangwon Land increased 3.8 percent, and also the Korea Racing Authority claims its horse racing revenues grew just 0.2 percent.

Expansion Projects

While South Korea does not appear to possess any immediate plans to relax its strict anti-gambling laws for its people, the country is more than willing to welcome foreigners into gaming establishments.

This springtime, the nation’s 18th brick-and-mortar casino will start in Incheon. The city is part of the greater Seoul metropolis, which will be home to roughly 1 / 2 of South Korea’s 50 million residents. Seoul can be the financial hub for the country, with both Samsung and Hyundai, the two largest companies in South Korea, both headquartered in the capital.

Paradise City is the first of three Incheon that is planned casino. The foreigner-only property will feature a hotel and spa to compliment a 330,000-square-foot gaming space that includes 160 table games and 350 slots.

Sega Sammy Holdings is behind the project, the ongoing business famous in the usa for its Sega games system and Sonic the Hedgehog character. Paradise City is expected to start in April.

The following casino in the works is being partially financed by Mohegan Tribal Gaming, the United States operator that has Mohegan Sun in Connecticut and it is currently into the procedure of developing another casino into the tiny state that is northeastern.

Events investing in Incheon are hoping the region becomes Asia’s new Macau, or at the very least, turns into a viable alternative to the Chinese special gambling region that is administrative.

Utah Raids Shut Down Hundreds of ‘Slots,’ But Makers Say They’re Appropriate

A slot machine sting in Utah, the joint-‘driest’ state in the usa in regards to gambling, has led to the impounding of more than 500 machines in gas stations, tiny markets, ethnic markets and restaurants across hawaii.

Utah State Senator Curt Bramble was one of three lawmakers who demanded an investigation into the machines having been approached by concerned members of the public. (Image: Stacie Scott, Deseret News)

Authorities said that, over the past year, $12 million to $24 million had flowed through the machines, installed at some 130 businesses throughout Utah. The raids began on and are stated to be ‘ongoing. wednesday’ While no arrests were made, Leo Lucey, Attorney General’s workplace Chief Criminal Investigator, stated in an official statement thursday that the operators for the machines could face ‘multiple felony charges.’

‘The Attorney General’s Office has focused its operation today on a number that is large of devices we allege are illegal under Utah statute,’ stated Lucey. ‘Because these products are out in the wild and are available to anybody, they provide a threat that is especially dangerous youth.’

Blanket Prohibition

Lucey stated that the research, including neighborhood, state, and law that is federal, was launched over the summer after needs from three state representatives, whom had in turn been approached by concerned users regarding the public.

Utah is the state that is only the United States, except Hawaii, that prohibits gambling in all its forms, even lotteries and, yes, raffles. Even the work of gambling is considered a class B misdemeanor, increasing to a course an if you are caught twice.

Jason Chaffetz, US representative for Utah’s third district that is congressional meanwhile, has been certainly one of the most outspoken supporters in Washington associated with movement to ban online gambling at a federal level over days gone by few years.

Gumball Rally

But the company which makes and distributes the machines, Intermountain Vending, said the other day the AG’s actions were ‘disappointing and regrettable’ also it believed it had been operating in the confines of Utah legislation, despite its draconian prohibition of all games of chance.

The machines are said by the company have a ‘no purchase necessary’ option, while some of them give fully out gumballs whenever a quarter is added, in addition towards the chance of winning cash.

‘Our kiosks’ function happens to be thoroughly tested and we believe they meet all the requirements of Utah law,’ said the company in an official statement, Thursday. ‘Now, in place of having a dialogue that is reasonable attempting to resolve any perceived issues, Intermountain Vending will be forced into the unnecessary expense and inconvenience of dealing with this specific through the courts.

‘Meanwhile, our merchant-customers will eventually lose the advantages of increased foot traffic and sales that are retail we provide them and their customers are denied the chance to purchase our products and enjoy the entertaining features of our kiosks.’

Based on Lucey, users of this machines myfreepokies.com either directly insert cash or ‘value cards’ bought from a store clerk, in which he begs to differ on the loophole that is legal.

India Contemplates Legal Casinos and Sports Betting, $60 Billion at Stake

India is the country that is latest to examine the possibility for legalizing gambling, and appears available to changing current statues. The Law Commission, the nation’s top legislation panel, is reviewing the feasibility of earning sports betting and casinos legal, along with other types of wagering.

Asia has battled unlawful gambling for years, including separating impromptu casinos, like this one in New Dehli. Now officials are considering making gambling legal and regulating it. (Image: Hindustan Times)

The motivation is financial. The Indian gambling market, both legal and illegal, is estimated at $60 billion annually, and the government would like more control over that money. Legislation is the easiest way to eliminate unlawful operations and bring in more revenue.

‘Regulation and taxation can yield large amounts of income for the exchequer and check crime,’ Maj Rajpal Singh, Federation of Indian Chambers of Commerce and Industry (FICCI) director told the Hindustan instances.

Managing Internet Gambling

The Public Gambling Act of 1867 is antiquated, written in time when computers don’t exist, yet the country still adheres to many tenets for the legislation.

Web gambling is an area that is grey what the law states and though illegal, authorities have discovered it tough to enforce.

‘It (gambling and gambling) is already happening through the world wide web and it’s difficult to stop in the absence of an updated law,’ a member associated with commission said.

There are casinos in Asia already. The states of Goa and Sikkim have legalized land-based gaming which would be the sole hubs of casino regulated play within the nation.

Inching Towards Legalization

Commission chairman Justice B.S. Chauhan recently went to a three-day conference in London, in line with the Hindustan Times. It was a fact-finding mission and presenters provided speaks on regulation, lotteries, and betting. Most associated with the presssing issue saw his presence as a indication that the nation is leaning towards legalization.

In another positive action, the Supreme Court asked the organization to study the chance for betting on cricket. Oahu is the nationwide sport, but has been besieged by match-fixing scandals by orderly crime and large levels of illegal betting. Changing the law to legalize most kinds of gambling would get rid of the energy of cartels.

‘According towards the Public Gambling Act (1867), a myriad of gambling in Asia are illegal,’ stated Vikrant Pachnanda, a Delhi court that is high and managing editor of India Law Journal, a periodical that expresses views on topical legal issues. ‘But unlike in the US where there is the American Web Gambling Prohibition Act [editor’s note: this bill was beaten in 1999, presumably he means the Unlawful Internet Gambling Enforcement Act of 2006, which did pass], no specific legislation exist in the system that is indian bar online gambling.’