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Cash-Starved Iowa Looking to License Four More Casinos
Another state in need of money is asking to expand the number of licensed casinos within its borders.
Always happens. Legislators against gambling, but who need money to balance their budgets, turn to…what else? Gambling.
That’s what is happening in Iowa.
Iowa now has 17 state licensed casinos, but the governor, Chet Culver, is saying that more are needed.
He wants four new licenses approved.
Uh, OK Gov.
Like many other jurisdictions, Iowa has been hit hard by the recession.
Independent auditors believe that if the new casinos were approved, $250 million would be added to the state.
Those are figures that Culver believes cannot be passed up. In addition, thousands of jobs would be created at a time when unemployment rates are high.
So, gaming regulators in Iowa have a decision to make. They must decide whether expansion would be good for the state. Not surprisingly, those currently owning casinos are not excited about the prospects of more competition.
Four counties are currently seeking the licenses. Webster, Tama, Lyon, and Wapello county voters have all approved new casinos, and are waiting on the Iowa Racing and Gaming Commission to make their decision.
So we’ll see what happens.
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Posted on March 9, 2010 by doclotto | Filed Under Casino, Culture, Games
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Dodge City (Kansas) Madness: State Run Casino a Smashing Success
Remember when you were a kid and all those TV shows took place in Dodge City, which was kind of the edge of the western frontier, where crooks and the law met?
Remember Matt Dillon and Chester and Miss Kitty.
And the gambling. Miss Kitty ran a casino, you know?
Now the state is running a casino in Dodge and the results have been spectacular, both for players and the government.
Name of the casino is the Boot Hill Casino and Resort and it is totally state run (the games, I mean).
Cool, huh?
The casino opened in December, beginning a one-of-a-kind arrangement for the United States where a state government owns the slot machines and game tables.
The shiny new Dodge City gambling hall gives a preview of what to expect when the far bigger Hollywood Casino, which is soon to be built at Turn 2 of Kansas Speedway in Wyandotte County. Target date for that opening is about two years.
The guys who run the show are quite upfront about Boot Hill. It’s like any other casino, they say, “It’s just that we’ve got a partner. And that partner is the state of Kansas.”
Hey look, this is just another way of taxing casinos.
Of the money lost by gamblers in Dodge City, 27 percent goes to various state and local government funds.
he state gets 22 percent, a fund for problem gambling gets 2 percent, and Ford County and Dodge City each get 1.5 percent.
And I get to play in a well run casino.
If you’re ever in the area, go there. You won’t be disappointed.
I wasn’t.
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Posted on March 4, 2010 by doclotto | Filed Under Casino, Culture, Stories, news
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Casino Revenues in January 2010 Up in Mississippi, to $193 Million. An Encouraging Sign, but Still Less than the Level of One Year Ago
Good news for legislators (and casino owners) in Mississippi. Legislators, of course, depend on tax revenue from Casinos to help balance their budgets.
Revenue was up from December 2009, although down from one year ago. So it’s kind of a good news, bad news scenario.
In January, casino revenue in Mississippi was $193.2 million. That was up from the $184.9 million that the casinos won to close out 2009.
It shows that revenue is headed back towards where it was before the economic recession hit the US.
On the down side, casinos haven’t made a full comeback. In January 2009, revenue was five million dollars more than this January.
The two years before that, revenue was up 15 million dollars, showing how far the casinos have fallen.
“It still is going to take some time before revenue grows back to where it was before the recession,” said Gaming Analyst Steve Schwartz, “Most estimates do not have the casino industry in the US fully recovering until 2011.”
And it’s not just Mississippi. Las Vegas and Atlantic City, the two top gambling destinations in the country, have both experienced major revenue losses over the past year and a half.
Hell, I don’t care. I’ll play anywhere dudes.
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Posted on February 23, 2010 by doclotto | Filed Under Advice, Atlantic City, Culture, Games
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This Kinda Pisses Me Off: Colorado Casino Regulators Look to Lower Blackjack Payouts (And Increase Revenues for Government)
I don’t know about you, but don’t you think Government should keep their budgets in order and not screw people who gamble in sanctioned casinos.
Well, seems like jurisdictions that are running at deficits will do anything to find money.
Colorado casinos want regulators to lower the minimum payout on blackjacks.
Under a proposal that is currently under consideration during the Colorado Limited Gaming Control Commission’s monthly meeting, a $10 bet would return $12 instead of $15 under current regulations.
The change, if implemented, means casinos would pay 6-to-5 when a card player hits 21 with two cards, instead of the current 3-to-2.
The proposal comes after voter-approved regulations that increased the maximum bet from $5 to $100 failed to increase casino revenues by a hoped for 25 percent.
Well, duh. Maybe that has something to do with the economy of the playing public.
Casino revenue increased 9 parent during the first six months of the changes that took effect in July.
I’ll watch to see what the commission does.
Thanks for the tip, Andrew, of Denver.
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Posted on February 18, 2010 by doclotto | Filed Under Casino, Events, news
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Sports Books at New Jersey Racetracks? It Just Might Happen
It just blows my mind to see how state legislators, once adamantly anti gambling, are now embracing it in order to bring in much needed revenues.
Latest trend is in hard-strapped New Jersey, where a state Senate committee approved a proposed constitutional amendment to allow sports betting in Atlantic City casinos and at New Jersey racetracks, but ONLY if a federal government ban against sports gambling were eliminated.
The vote was 4-0 by the Senate State Government, Wagering, Tourism and Historic Preservation Committee. Now, they sent the constitutional amendment to the full Senate for consideration.
If approved by the full Legislature, the proposal would ask voters in November whether to authorize sports betting.
State Sen. Raymond Lesniak, D-Union, New Jersey told reporters that legalized sports betting would raise $100 million in new state revenues and generate $500 million for the casinos and racetracks.
And then, a twist. Assemblywoman Caroline Casagrande called for any proposed constitutional amendment to include horse racing.
“That industry is under the same intense competition as the casinos,” she said.
It will be extremely interesting to see what develops. Watch this site to find out more in coming weeks.
Personally, can’t wait to get sports books in Atlantic City. I mean, why not?
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Posted on February 9, 2010 by doclotto | Filed Under Advice, Atlantic City, Casino, Culture, Events, Games
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