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Post by Evelyn on Sept 8, 2014 22:28:28 GMT -5
Will this help or hurt racing and/or the casinos? Four casinos have or are closing in Atlantic City. NJ’s Christie Approves Sports Betting at Tracks, Casinos PR New Jersey Gov. Chris Christie issued a directive Monday allowing sports betting at the state’s racetracks and casinos. ABC News reports that Gov. Christie said that he found nothing in the state’s law that would prohibit casinos and tracks from offering sports betting. Although the action will likely be challenged in court by both professional and collegiate sports leagues, Christie said that casinos and tracks could offer sports betting effective immediately. “Based on the arguments of the sports leagues and the United States Department of Justice, the 3rd Circuit has already ruled that New Jersey can carry out sports wagering as described in today’s statewide directive,” the governor’s office wrote in a statement. “The motion simply would clarify and formalize that authority and give clear guidance to casinos and racetracks waiting to open a sports pool in New Jersey" Read More: abcnews.go.com/Sports/wireStory/christie-casinos-tracks-offer-sports-betting-25352051#.VA3h7h8Udns.twitterMonmouth Park issued the following press release Monday afternoon: In a move long supported by Monmouth Park Racetrack, the New Jersey gaming community and the people of the Garden State, the administration of New Jersey Governor Chris Christie today issued an Attorney General’s Directive through Acting Attorney General John Hoffman allowing sports wagering, without fear of criminal or civil liability, at New Jersey racetracks and casinos. “I am so pleased that Governor Chris Christie has decided to continue his fight to support sports betting,” said Dennis Drazin, advisor to the New Jersey Thoroughbred Horsemen’s Association and Darby Development LLC, operators of Monmouth Park Racetrack. “Today’s decision will certainly breathe new life into New Jersey’s gaming community and this courageous move by the Governor will surely help stabilize our already struggling industry.” In 2012 New Jersey passed the Sports Wagering Act, which permitted the licensing and regulation of sports betting. The State was subsequently sued based on a 1992 statute – the Professional and Amateur Sports Protection Act (PASPA). The U.S. District Court ruled that New Jersey could not proceed with sports wagering and the State appealed. The Third Circuit Court of Appeals upheld the District Court’s ruling; however, that Court stated that there was nothing that could stop New Jersey from removing prohibitions against sports wagering. It is based on this ruling that Governor Christie has acted, specifically stating in a release today that, “The Attorney General’s Statewide Directive follows the Third Circuit’s ruling and concludes that nothing under New Jersey law prevents casinos and racetracks from operating a sports pool effective today.” “It will be in the very, very near future that sports wagering will be offered at Monmouth Park,” Drazin said. “We have always stated we would take sports wagers as soon as possible, and thanks to the Governor, Legislature and everyone who has worked extraordinarily hard to see sports betting in New Jersey, that day is on the very near horizon. “We want to offer special thanks to Senator Ray Lesniak, who has led the fight to legalize sports betting, Assemblyman Ron Dancer, who initially sponsored the Assembly’s version of the bill and all the legislators who voted for the bill which passed the Senate 38-1 and Assembly 63-6.” Located in Oceanport, New Jersey, Monmouth Park Racetrack opened in 1946. It was privately held until a 1986 sale to the State of New Jersey. In 2012 the racetrack was leased by the New Jersey Thoroughbred Horsemen’s Association for five years, with three 10-year extension options. With live world-class Thoroughbred racing from May through September, Monmouth Park attracts over 500,000 visitors annually. |
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Post by Deleted on Sept 9, 2014 9:33:23 GMT -5
The enabling legislation was passed back in 2012, more than two years ago. One wonders why they waited so long before issuing this directive. Last year there was a State court ruling regarding the ownership of organizations that conduct betting. The legislature quickly modified their law to comply with the ruling, but the Governor vetoed it.
The two directives issued yesterday, one from the Governor and one from the Attorney General, both gave permission to the casinos and race tracks to conduct sports betting in violation of the existing law, saying they wouldn't be prosecuted for violating the law:
"the state attorney general declared that tracks and casinos from the Meadowlands to Atlantic City could proceed with sports betting without fear of running afoul of state law enforcement officials"...www.northjersey.com/news/christie-says-casinos-and-tracks-can-offer-sports-betting-1.1082914#sthash.BnaLsD1J.dpuf).
The state simply won't enforce existing law. That's not going to sit well with the anti-sports betting people and others.
Unfortunately this too late to help the four casinos that have already closed this year (actually the fourth will close it's doors in 4 days) or the one that will be closed in November (Trump Entertainment, which owns Trump Taj Mahal, filed for bankruptcy this week).
I don't think this will be enough to save the others that are struggling. Over the years the casinos in Atlantic City depended upon gamblers primarily from New England, New York, Philadelphia, and the I-95 corridor down to Washington DC. Now there are casinos or racinos in Maryland, Delaware, Pennsylvania (which actually now is the second largest casino gambling state in the country behind Nevada) New York (with more to come), Connecticut, Rhode Island, Maine and soon Massachusetts. This is the main reason that the Atlantic City casinos are struggling. Adding sports betting isn't going to change that at all.
On top of that, sports betting will also be allowed in racetracks. Other than the relatively dormant Atlantic City Race Course, the other three (Freehold, Monmouth, and the Meadowlands) are either in or on the fringe of the NYC Metropolitan Area - most likely the majority of those wanting to place bets will go there rather than the approximate 100 miles to Atlantic City to bet. And those in the Philadelphia area that make sports bets are already accustomed to making those bets at Delaware Park will continue to do so - familiarity and closer proximity than Atlantic City.
There are also severe limitations to the bets that the casinos and tracks can accept. Somewhere I read that they can't accept bets on college games that include schools from New Jersey and they can't accept bets on games that take place in New Jersey. On the professional level, that eliminates the home-game half of the schedules of the Giants, Jets, and Devils.
PS - one positive side of these casinos going out of business, Ray Rice won't be beating up any more women in the elevator of the Revel! |
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Post by Deleted on Sept 9, 2014 10:55:13 GMT -5
The bankruptcy of Trump Entertainment was filed this morning. The reason they're holding off on closing Trump Plaza is that they want to get through the Miss America Competition on Sunday night. The casino will close an hour or two later. finance.yahoo.com/news/trump-casinos-latest-filing-bankruptcy-130320332--finance.htmlTrump casinos file Ch. 11, threaten Taj closureATLANTIC CITY, N.J. (AP) — Trump Entertainment Resorts filed for bankruptcy Tuesday and threatened to shut down the Taj Mahal Casino Resort, which would make it the fifth Atlantic City casino to close this year. The company owns Trump Plaza, which is closing in a week, and the Taj Mahal, which has been experiencing cash-flow problems and had been trying to stave off a default with its lenders. The company said the Taj Mahal could close Nov. 13 if it doesn't win salary concessions from union workers. It's the fourth such filing for the struggling casino company or its corporate predecessors. The company filed in U.S. Bankruptcy Court in Wilmington, Delaware, saying it has liabilities of between $100 million and $500 million, and assets of no more than $50,000. It missed its quarterly tax payment due last month, and says it doesn't have the cash to make an interest payment to lenders due at the end of the month. It also says both its Internet gambling partners have taken steps to end their contracts with Trump Entertainment. It said cost-cutting negotiations with the main casino workers' union have stalled, and that the company is preparing notices warning employees the Taj Mahal may close on Nov. 13. "Absent expense reductions, particularly concessions from their unions, the debtors expect that the Taj Mahal will close on or shortly after November 13, 2014 and that all operating units will be terminated between November 13, 2014 and November 27, 2014," the company wrote in its bankruptcy filing. If the company makes good on its threat to close the Taj Mahal, it would further rock and already shell-shocked casino market in what just a few years ago was the nation's second-largest gambling market after Nevada. Now, New Jersey has fallen behind Pennsylvania. Three other Atlantic City casinos have closed this year, as the industry struggles with competition in nearby states. Atlantic City began the year with 12 casinos, but could end it with seven if the Taj Mahal closes. So far this year, the Atlantic Club, Showboat and Revel have gone out of business, with Trump Plaza closing next Tuesday. The bankruptcy filing came a day after Gov. Chris Christie's administration told the state's casinos and horse tracks that they can legally offer sports betting — a move that defies a federal ban on it and is sure to be challenged in court by the professional and amateur sports leagues which have fought it thus far. Trump Entertainment has struggled since the day it emerged from its last bankruptcy in 2010, having filed the year before. It came out of bankruptcy with $350 million in debt, and currently has more than $285 million in debt. As of the end of July, the company employed 2,800 people. The company has been trying to reduce expenses and debt, including selling its former Trump Marina casino for $38 million to Landry's Inc., which now runs it as the Golden Nugget Atlantic City. It also sold the Steel Pier for $4.5 million; a warehouse for $1.9 million, and its former corporate offices in a converted firehouse for $3.1 million. That building now houses the Casino Reinvestment Development Authority. It has been trying for years to sell Trump Plaza. A deal to sell it to a California firm for $20 million last year fell through. The company also said it has been in negotiations with Local 54 of the Unite-HERE union on cost-cutting measures it says it needs to survive, but that the union has rejected them. Bob McDevitt, the union president, could not immediately be reached for comment. The concessions would be on top of a separate $4 million round of union concessions the company won in 2011. Donald Trump owns a 10 percent stake in the firm, but no longer controls it. He is suing the company to remove his name from the properties, which he says have fallen into disrepair and do not meet agreed-upon standards of quality and luxury. If the Taj Mahal closes, Trump Entertainment would have no remaining properties and would presumably go out of business. |
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cait
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Post by cait on Sept 9, 2014 12:29:56 GMT -5
Nice cheap shot at Rice George. What's going to be done about the other 21 NFL players who are guilty of violence against women> Some of those women were hospitalized. Remember, she married him anyway.
Doubt this will help either tracks or casinos.
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Post by Deleted on Sept 9, 2014 15:03:43 GMT -5
Not a cheap shot at Ray Rice. He knocked his future wife unconscious in an elevator at the Revel, which is now closed. He won't be able to do that again.
The only cheap shot was the one he took at his fiancé, knocking her out. Yes, she married him anyway, but it's a well documented and sad fact that most victims of domestic violence refuse to leave the aggressor, and many consider the abuse their fault, not the aggressors' fault.
I don't know the outcome of the other cases, hopefully they'll be prosecuted and dealt with. But this one took place in a NJ casino, which is the subject of the discussion and the only reason I mentioned it.
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Post by Deleted on Sept 9, 2014 15:20:49 GMT -5
yeah, how is it a cheap shot? when you act like a thug, you deserve to be called out for it. should hey not punish him because 21 others did it also? what you say makes no sense.
george is also completely right about the mentality of the women too. its sickening to watch. i have two friends going through the same thing right now, one of them a very close friend. i cant stand it and want to punch her myself for allowing this to keep happening and putting up with it. they never lesarn though, and will never leave.
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Post by Deleted on Sept 9, 2014 15:56:00 GMT -5
wiz, it's not just women, it's also many men who refuse to recognize they're in bad relationships and don't want to get out of them. The difference is that in the case of men, they're closet victims - due to their innate "masculine" egos, they don't want anyone to even know they're getting the crap beat out of them at home. That's why we don't hear about it as often as we hear about abused women.
The bottom line is that if ANYONE is hit by his/her spouse or partner, the abuser deserves everything they get, and it sad that the victims in many cases make excuses for the abuser. That's why most states have changed their domestic violence laws. The victim calls 911 for help, and by the time the police show up the victim shows "remorse" for getting his/her partner in trouble. In the past the cops would just say, "Okay, now get along", and then hours later you find the victim dead or hospitalized. Now in most states if there is a call, regardless of the lovey-dovey attitude once they show up, the cops have to jail the abuser for at least one night to cool off.
But, the whole discussion is about the future of casinos and race tracks in New Jersey - my opinion is that sports betting is only a band aid. The few remaining casinos will have to collectively make billions (profit, not handle) on sports betting to turn the tide of competition from surrounding states. And who is to say that if sports betting is successful in New Jersey that Pennsylvania, New York, etc. won't implement their own sports betting?
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Post by mackdaddy on Oct 24, 2014 17:00:45 GMT -5
Not yet. A judge put a hold on it today.
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Post by Deleted on Oct 24, 2014 17:14:11 GMT -5
No big surprise, I could say "I told you so". There is a hearing and/or decision by a federal judge early next week.
We've heard that sports betting was "definite" by September 6 - that didn't happen. Then the end of September, then early October, then tomorrow. FOUR dates have come and gone and no sports betting. It'll come some day, but only AFTER the laws are either changed or re-interpreted differently. That could be next week, maybe a long time away.
(BTW, wonder who that "lonely guy" is in the photograph of Monmouth Park - no doubt someone we know!  )
www.northjersey.com/news/judge-issues-temporary-restraining-order-to-delay-n-j-sports-betting-1.1117718
Judge issues temporary restraining order to delay N.J. sports betting
NJ federal court Judge Michael A. Michael A. Shipp has granted a temporary restraining order to delay NFL betting from taking place at Monmouth Park on Sunday. Shipp acknowledged an “extraordinary “ hurdle for the restraining order, but said the leagues met it.
On Thursday, attorneys for the leagues argued in a filing that the restraining order was necessary because of the “belligerent” actions of state officials and the “brazen” attempt by Monmouth Park to move forward even with a court ruling on the latest state betting law’s constitutionality not yet decided. The focus of the dispute is whether the third version of a sports betting bill passed by the state legislature since 2012 still runs afoul of a 1992 federal law designed to prevent the spread of state-endorsed sports betting beyond the four states that at that time already permitted some variation of it. A claim by Monmouth Park officials that it is they, and not the leagues, who would suffer “irreparable harm” from an adverse ruling about a restraining order also was disputed. In Feb. 2013, Shipp granted a permanent injunction against state tracks or casinos offering sports betting, leading most sports law attorneys to predict he would grant the leagues’ request for a delay in betting. |
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Post by Evelyn on Oct 24, 2014 20:51:14 GMT -5
Gambling blocked at Monmouth Park
By David Purdum | ESPN
A U.S. District Judge in Trenton, N.J., granted a temporary restraining order to the NCAA, NFL and other major professional sports leagues Friday, crushing a New Jersey racetrack's hopes of offering legal sports betting this weekend.
After a week of rapid-fire legal filings, Judge Michael Shipp ruled the sports leagues would suffer irreparable harm if thoroughbred track Monmouth Park began accepting sports bets Sunday as planned.
The ruling is a blow for New Jersey, which is trying desperately to help its ailing gaming industry. Four Atlantic City casinos have closed, and thousands of workers have been laid off.
New Jersey believes Las Vegas-style sports betting would provide a spark and has been battling the leagues for more than two years.
But this case still isn't over. More hearings in district court and the Third Circuit Court of Appeals are expected. Both courts have previously ruled against New Jersey's sports betting efforts.
Before it's over, the Department of Justice also could weigh in. For now, though, the NCAA, NFL, NBA, NHL and MLB have stopped bettors from legally wagering on their games in New Jersey.
"It's incredibly disappointing," New Jersey State Senator Raymond Lesniak said. "It's very, very important to both our casinos and racetracks, so we're going to continue to pursue it."
When contacted by ESPN after the ruling, the NFL and NBA declined comment.
The leagues filed suit Monday, asking for a permanent injunction and claiming New Jersey's latest sports betting legislation, the 2014 Sports Wagering Law, violates the Professional and Amateur Sports Protection Act of 1992 (PASPA). PASPA prohibits states from "authorizing, operating, advertising, promoting or licensing" sports betting in all but four states: Nevada, Delaware, Montana and Oregon.
Last week, New Jersey Gov. Chris Christie signed the Sports Wagering Law. It partially repeals the state's sports betting prohibitions, but restricts it to racetracks and casinos and to adults 21 or older. It also prohibits wagering on games involving state colleges and universities and any collegiate games played in New Jersey. In legal filings, the sports leagues pointed to those stipulations as evidence the state is still authorizing sports betting.
"Despite its 'repeal' language, the 2014 Sports Wagering Law is a blatant attempt by the State of New Jersey to sponsor, operate, advertise, promote, license and/or authorize sports gambling in Atlantic City casinos and at New Jersey racetracks," attorneys for the five sports leagues wrote in Monday's complaint. "As such, the 2014 Sports Wagering Law violates PASPA."
New Jersey lead attorney Ted Olson, a former U.S. Solicitor General, disagreed. In a legal brief opposing the restraining order, Olson and state attorneys wrote that the 2014 Sports Wagering Law does exactly what the Third Circuit Court of Appeals and Department of Justice attorneys said it could in a ruling last September.
"To follow the Third Circuit's interpretation of PASPA, the Repealer [2014 Sports Wagering Act] expressly states that it is 'not intended and shall not be construed as causing the State to sponsor, operate, advertise, promote, license, or authorize by law or compact the placement or acceptance' of a sports wager," state attorneys wrote.
The arguments will continue in the near future as Shipp decides whether to grant the leagues' request for a permanent injunction.
Monmouth Park has spent the last month and a half preparing to turn its sport bar and restaurant into a sportsbook. It has hired employees and formed an independent regulation committee, the Independent Sports Association.
The park was expecting thousands of bettors to attend Sunday.
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Post by Deleted on Oct 24, 2014 23:25:05 GMT -5
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lt1
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Post by lt1 on Oct 25, 2014 13:30:12 GMT -5
That would be more interesting then the crap they run at Belmont.
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