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Donald Trump’s Atlantic City Record Attacked on Day One of Democratic National Convention

Donald <span id="more-1152"></span>Trump’s Atlantic City Record Attacked on Day One of Democratic National Convention

Very First Lady Michelle Obama energized the audience at the Democratic National Convention on the shared theme that is common Donald Trump isn’t fit for the Oval workplace.

Donald Trump spent a quarter-century businesses that are owning Atlantic City. The billionaire Republican Party nominee has repeatedly trumpeted his success in the east coast gambling mecca throughout the course of his campaign.

‘I made a lot of cash in Atlantic City and left seven years ago, great timing,’ Trump tweeted earlier this month.

After a weeklong Republican National Convention (RNC) that officially made Trump the GOP’s presidential prospect, it is now time for the Democrats to carry their own love fest. While contention remains between the Bernie Sanders faithful and nominee that is presumptive Clinton, one thing most in attendance in Philadelphia during the Democratic National Convention (DNC) can acknowledge is that Donald Trump isn’t qualified to be president.

Their record in Atlantic City is a prime example for Democrats who argue Trump isn’t looking out for the American people.

‘Trump says he would run our country like he has run his businesses,’ New Jersey Senator Cory Booker stated in delivering a passionate speech. ‘ I’m from New Jersey, and we’ve seen the means he leads . . . He got rich while his companies declared multiple bankruptcies.’

Massachusetts Senator Elizabeth Warren echoed Booker by saying, ‘Donald Trump continues, and on, and on, about being a businessman that is successful but he filed business bankruptcies . . . Always to protect his money that is own and his investors and contractors with the bill.’

Banking on Bankruptcy

Trump says he is a self-made billionaire and the political left says he’s absolutely nothing but a bully who got rich at the cost of the little people.

So who is to think? In fact, both are right, and both are being a dishonest that is little.

Trump hasn’t personally filed for bankruptcy, but businesses he’s owned have.

The first came in 1991 when the Trump Taj Mahal in Atlantic City declared Chapter 11 bankruptcy. The filing was devastating for Trump pelican pete pokies who was 45-years-old during the time.

He lost half of their stake in the casino, sold his yacht that is 282-foot dubbed ‘Trump Princess,’ and shuttered Trump Airlines.

The year that is following Castle Associates, owners for the Trump Plaza in nyc and Trump Plaza Hotel and Casino and Trump Castle Resort in Atlantic City, also filed for bankruptcy. The estate that is real forfeited 1 / 2 of his stake in the ny Plaza to the banks.

Twelve years later on, Trump Hotel & Casino Resorts shed $500 million in debt by switching over majority control of its Atlantic City properties and its Indiana riverboat to investors.

Finally during 2009, Trump Entertainment Resorts was the straw that is last Trump’s ventures in the gambling sector. He resigned through the company’s board as well as the company was eventually offered to Carl Icahn in 2016.

He Said, She Stated

According to Real Clear Politics, the latest aggregated polls show Trump with a slight lead over Clinton 45.6-44.7.

The revelation this week by WikiLeaks that Democratic National Committee seat Debbie Wasserman Schultz ended up being actively working against Sanders has brought additional scrutiny towards the Democratic ticket.

Sanders tried to persuade their backers to help Clinton during his message night that is last and also by many reports he succeeded. First Lady Michelle Obama delivered yet another message that is strong also threw her support behind Clinton.

Three more evenings remain for the Democrats as they try and unite and spread their message to the people that are american. Meanwhile, Donald Trump will tweet and appear on as many news programs as possible.

Sheldon Adelson Upbeat on Macau as Mass Market Gamblers Return

Macau may be entering its third year of decrease but Sheldon Adelson is buoyed by the rise in mass market gamblers at Sands China properties in June. (Image: abcnews.go.com)

LVS boss Sheldon Adelson is bullish about an upturn in Macau’s fortunes. Speaking through the Sands China earnings call this week, the billionaire casino mogul said that after two straight several years of monthly decrease for the gaming hub, stabilization had arrived, evidenced by the truth that mass market gaming at Sands China properties rose for the time that is first two years in June.

‘we mentioned in January of last 12 months we were seeing the first signs of stabilization in the Macau mass market,’ sad Adelson that I believe. ‘Our mass revenue growth in June, inspite of the arrival of new competition on Cotai, represents an important data point supporting the ongoing stabilization for the Macau mass market.’

LVS continues to be optimistic despite the very fact that Sand’s Asia’s total profits for the second quarter of 2016 declined 16.4 percent year-on-year to $1.48 billion. Meanwhile, Morgan Stanley has established that Q2 2016 had been Macau’s ‘worst quarter in the very last five years,’ across the sector.

Shares Rally

The VIP players that once accounted for the quarter of Macau’s revenues remain conspicuous by their absence, spooked by Beijing’s crackdown on conspicuous consumption and corrupt local government officials. But month that is last mass market gamblers arrived back. And, LVS Chairman Rob Goldstein insisted there’s a change that is palpable the atmosphere.

‘Something good happened in June,’ he stated. ‘The gaming floors are busy, particularly on weekends. Macau is morphing into the earth’s greatest mass market. Hopefully we’ll view it for the remainder summer.’

LVS shares rallied in the wake of the conference call, climbing as much as 4.1 percent in subsequent trading. Analyst Sanford C. Bernstein & Co said that Sands China’s product offering is ‘one of the best positioned to capitalize on Macau’s paradigm shift’ towards mass market gamblers today.

Parisian on Track for September

Meanwhile, Adelson announced that LVS’s new home on the Cotai Strip, the Parisian Macau, is ‘on track,’ and scheduled to open September 13th, less than a month after the Wynn that is new Macau expected to open its doors.

‘The positioning of The Parisian Macau caters well to both the present Macao market conditions and the term that is long trends in Chinese outbound tourism,’ stated Adelson.

‘The Parisian would have been a themed premium destination where the aspirational appeal of its public spaces, tourist attractions and amenities, combined with affordable hotel accommodation, will provide a complimentary providing to the all-suite hotel during The Venetian Macao.’

‘ I’m extremely confident that with the opening of The Parisian, we are going to see growth in Macau,’ he added.

Native United States Casino Sector Generates Strongest Revenue Growth in a Decade

Jonodev O. Chaudhuri, NIGC chairman, stated that tribal gaming provides more social benefits for Native Americans than any other driver that is economic. (Image: yogonet.com)

The tribal gaming industry across America recorded its highest ever revenue figures this past year, according to the National Indian Gaming Commission (NIGC). Its profits of $29.9 billion represents a five per cent increase in the previous year and its best growth margin in ten years.

In 2015 there have been 474 gambling operations owned by 283 tribes that are separate the country. Properties based on the Eastern Seaboard had been the biggest income generators, with the 31 casinos in the region bringing in an average of $225.8 million each.

Gambling enterprises in California and Nevada were the next performers that are top the 71 properties in the region earned 7.9 billion for the year, and average of $111.3 million each.

Disparity Exists

The NIGC neglects to mention specific casinos, preferring instead to deal in broad averages, which highlights overall rosy numbers, while perhaps glossing within the great disparity within the tribal casino market. A study published earlier this by the economist Alan Meister, which looked solely at the state of the market in 2014, found that the top two states generated 39 percent of all revenues for the sector, while the top ten generated 85 percent year.

However, Meister acknowledged that the sector in general was outpacing the sector that is commercial terms of development. The Indian Gaming industry bounced straight back much more quickly through the Great Recession than its counterpart that is commercial and grown every year since 2009.

‘ The strong legislation that tribes, as well as federal regulators and other stakeholders, provides has played an integral role in the security and growth of the Indian gaming industry by providing consistency and predictability,’ said NIGC chairman Jonodev O. Chaudhuri, during a news meeting on the Cabazon Band of Mission Indians’ reservation in Indio.

Pioneering Cabazon Band

The setting had been chosen because the Cabazon Band was the tribe that first paved the way for all American that is native Gaming. Its 1987 challenge that is legal the State of California, which argued that the state could not forbid casino gaming on tribal sovereign lands if gambling were legal elsewhere within the state, was upheld by the United States Supreme Court. This paved just how for the creation Indian Gaming Regulatory Act, and, through it, tribal gambling enterprises.

‘Indian gaming is fundamentally different than commercial enterprises; it directly provides resources for Indian people including, social services, public works, training, housing, health care, emergency services, public safety and social presentation programs that no other financial driver has yet to produce,’ said Chaudhuri.

Maryland Live Casino Sues Soon-To-Be Rival MGM National Harbor Over High-Roller Lists

The Maryland Live Casino southwest of downtown Baltimore in Arundel Mills has brought a lawsuit against its soon-to-be neighbor and rival MGM National Harbor. The litigation claims that the ongoing company behind the $1.2 billion property located just 10 miles through the White House obtained its coveted high-roller listings in ill-gotten means.

The Maryland Live Casino is worried MGM National Harbor (pictured) could ransack its VIPs after it had been revealed the brand new venue obtained confidential high-roller directories. (Image: mgmnationalharbor.com)

Maryland Live contends that MGM pursued and hired three of its previous employees who served as hosts to VIPs. Maryland Live believes MGM then convinced at least two of the hosts that are high-roller turn over confidential lists despite signing ‘No Hire/Non-Compete agreements’ during their past employment.

The case had been filed within the US District Court in Baltimore. Maryland Live is owned by Cordish Global Gaming Group.

The lawsuit states that MGM ‘aided and abetted’ in the scheme, and hired the individuals based on their knowledge of the VIP gambling crowd in the Washington, DC, and Baltimore metro.

‘Although it’s our normal training not to touch upon pending litigation, this lawsuit amounts to nothing more than a thinly disguised attempt to stifle the competition Maryland Live expects from MGM’s nationwide Harbor,’ MGM said in a statement. ‘Maryland Live is resorting to threatening its present and former employees with unenforceable non-compete provisions in hopes of preventing folks from employed in other states whether or not their employment that is new would with Maryland Live.’

Tale of Two Casinos

If the MGM National Harbor starts in the two casinos will be located just 40 miles apart from one another december. Of program, considering the nightmarish traffic in the Baltimore-Washington area, those 40 miles are at times a trip that is all-day.

Regardless, it is too close for comfort for Maryland Live.

First opened in 2012, Maryland Live has essentially had a monopoly on the certain area for the last four years. The venue is considered the most profitable of the state’s five functional venues, and though it directly competes with the Baltimore Horseshoe, the fight isn’t even close.

Casinos have grossed $581 million through in 2016, and Maryland Live is responsible for a staggering 57 percent of those revenues june.

Regardless of the Caesars home in downtown Baltimore, the other three casinos are relatively little venues situated in more remote areas compared to Baltimore and Washington, DC.

Maryland Live is rightfully focused on losing an amazing chunk of its players, especially those with deep pockets, to your glitzy and fancy nationwide Harbor.

Doubling Down

Maryland Live cast the first stone in the future casino war, and it’s alson’t stopping there.

The casino is investing $200 million into its center to add a 17-story resort tower as Casino.org reported last thirty days. A complete of 310 guest rooms will be accompanied by way of a new event center, meeting areas, dining options, and a day spa and salon.

MGM nationwide Harbor will open with 308 hotel rooms.

‘Maryland Live Casino may be the leading gaming, entertainment and retail destination serving the heart of the Baltimore/Washington populace,’ Cordish Global Gaming Group President Robert Norton said in June. ‘ The addition of our flagship Live! resort is simply the latest investment we are making to make sure Maryland Live continues to function as favored choice.’

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