The Illinois Senate approved a bill week that is last would authorize six brand new land-based casinos in the state, however the proposal is stuck in limbo until lawmakers agree for a slew of other economy-boosting bills to go along with it.
Illinois State Senator Terry Link is the driving force behind major casino expansion legislation approved by the Senate last week. However, unless lawmakers agree with the rest for the Grand Bargain it’s going nowhere fast. (
This is Illinois’ so-called ‘Grand deal,’ a legislative package which hopes to bring an end to its budget impasse and institute a set of policies aimed at fixing its financial mess.
The two-year stand-off on investing between the Democratic-controlled House and the state’s Republican Governor Bruce Rauner, is the longest any state has gone with out a spending plan in almost a hundred years.
It is likely to on a bit longer, too, because, last Wednesday, much of the compromise that is sprawling was 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 within the making.
War on Illinois
However the proposed casino expansion, if enacted, would be transformational for Illinois’ gambling sector, ushering in an entirely new era of gambling enterprises on dry land. Currently, casino gaming is limited to riverboats along Lake Michigan while the Illinois River, a nod towards the state’s colorful 19th Century gambling history.
The bill would permit, for the time that is first a casino in Chicago itself, the Windy City having previously been off limits as a result of competition with local racetracks.
Five other areas have been earmarked for gambling enterprises, at yet-to-be-determined locations in Lake County, Rockford, Danville, Cook County, and Williamson County.
Senator Dave Syverson (R-Rockford) said a week ago Illinois is losing $1.6 billion in gambling revenue because casino expansion in neighboring states is drawing residents and their hard-earned dough over the state line.
‘We’re surrounded by five states that have actually declared war on Illinois and they are building casinos on our boundaries,’ 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 people in its suburbs, would pay a license fee of $100,000 plus $30,000 per gambling position; i.e, for each slot table or machine game seat.
‘The doors would likely be operational for conventions, that will be one thing that southern Illinois does not have,’ added Senator Dale Fowler (R-Harrisburg).
However, others remarked that expansion would have an impact that is detrimental
current riverboat gambling enterprises, which presently give 50 % of their revenues towards the state, which may mean tax that is actual figures may possibly not be quite as pretty as have projected.
The riverboats, nonetheless, would be allowed to accommodate 400 more slot machines as compensation, while the bill would authorize slots at also four horse racing tracks, aswell 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. Based on the Yonhap News Agency, the world’s largest media outlet, revenue from 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 myfreepokies.com, and while residents are banned from entering most establishments that are betting South Korea gambling is alive and well. (Image: Jung Yeon-Je/Getty Images)
Korean law forbids its residents from participating in most kinds of gambling. Residents are permitted to enter only one for the 17 casinos that are land-based South Korea, as the others are foreigner-only facilities. Kangwon Land, a resort that is state-operated Gangwon, is the only casino nationals can gamble in.
While 2016 was a good year for gambling, the South Korean economy moved in a different direction.
‘Due to financial depression, people have a tendency to imagine making a fortune at one swing,’ Seoul National University Professor Kwak Geum-joo stated.
Very nearly half associated with country’s economy hinges on the export of goods and services, primarily electronics and cars. But China has recently trapped in being effective at producing comparable technical devices at lower prices, which in change is driving demand down.
South Koreans are permitted to have fun with the lottery, and also allowed to participate in the ‘toto,’ pari-mutuel and fixed odds activities betting.
The Journal of Gambling Studies found in its 2012 report titled ‘The Effect of Recessions on Gambling expenses’ that only lottery admission sales were recession-proof. And in 2016, South Korea’s lottery rendered that concept true.
The lottery generated almost $3.8 billion in revenue last 12 months, significantly more than nine percent better than its prior 12 months performance.
Lottery’s growth outpaced the other legal gambling markets, as Kangwon Land increased 3.8 %, and also the Korea Racing Authority claims its horse racing revenues grew just 0.2 percent.
While Southern Korea doesn’t appear to own any instant plans to relax its strict anti-gambling laws for its people, the nation is more than willing to welcome foreigners into gaming establishments.
This spring, the country’s 18th brick-and-mortar casino shall open in Incheon. The city is an element of the greater Seoul metropolis, which will be home to roughly 50 % of South Korea’s 50 million residents. Seoul normally the hub that is economic of country, with both Samsung and Hyundai, the two largest companies in South Korea, both headquartered in the main city.
Paradise City is the first of three Incheon that is planned casino. The property that is foreigner-only feature a resort 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 company famous in america because of its Sega games system and Sonic the Hedgehog character. Paradise City is anticipated to start in April.
The following casino in the works is being partially financed by Mohegan Tribal Gaming, the US operator that has Mohegan Sun in Connecticut and is currently within the means of developing another casino into the tiny northeastern state.
Events investing in Incheon are hoping the region becomes Asia’s new Macau, or at the least, becomes a viable substitute for the Chinese special administrative gambling area.
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 us as it pertains to gambling, has resulted in the impounding of more than 500 machines in gas stations, tiny areas, ethnic markets and restaurants across hawaii.
Utah State Senator Curt Bramble was one of three lawmakers who demanded an investigation into the devices having been approached by concerned members associated with public. (Image: Stacie Scott, Deseret Information)
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 Wednesday and therefore are considered ‘ongoing.’ While no arrests have already been made, Leo Lucey, Attorney General’s Office Chief Criminal Investigator, said in an official statement thursday that the operators associated with the devices 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,’ said Lucey. ‘Because these products are out in the open and are available to anybody, they present a threat that is especially dangerous youth.’
Lucey said that the research, including neighborhood, state, and federal police force, 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 only state in the United States, except Hawaii, that prohibits gambling in all its types, even lotteries and, yes, raffles. Even the act of gambling is considered a class B misdemeanor, rising to a class an if you’re caught twice.
Jason Chaffetz, US representative for Utah’s third congressional region, 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.
But the company that makes and distributes the machines, Intermountain Vending, said a week ago the AG’s actions were ‘disappointing and regrettable’ also it believed it had been running 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 each time a quarter is added, in addition to your possibility for winning cash.
‘Our kiosks’ function has been thoroughly tested and now we believe they meet all the requirements of Utah law,’ stated the company in an official statement, Thursday. ‘Now, as opposed to 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 through the courts.
‘Meanwhile, our merchant-customers will lose the many benefits of increased foot traffic and sales that are retail we offer them and their customers are denied the chance to purchase our products and enjoy the entertaining features of our kiosks.’
In accordance with Lucey, users of the machines either directly insert cash or ‘value cards’ purchased from the store clerk, in which he begs to vary on the loophole that is legal.
India Contemplates Legal Casinos and Sports Betting, $60 Billion at Stake
India is the latest country 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 making sports betting and casinos legal, along with other types of wagering.
India has battled gambling that is illegal years, including splitting up impromptu casinos, like this one in New Dehli. Now officials are considering making gambling legal and regulating it. (Image: Hindustan Instances)
The motivation is financial. The Indian gambling market, both appropriate and illegal, is estimated at $60 billion annually, and the national government want more control of that money. Regulation will be the way that is easiest to eliminate unlawful operations and bring in more revenue.
‘Regulation and taxation can yield large quantities of income for the exchequer and check crime,’ Maj Rajpal Singh, Federation of Indian Chambers of Commerce and Industry (FICCI) director told the Hindustan Times.
Handling Internet Gambling
The Public Gambling Act of 1867 is antiquated, written in time when computers didn’t exist, yet the country still adheres to many principles associated with the legislation.
Online gambling is a grey area within what the law states and though unlawful, authorities have found it tough to enforce.
‘It (betting and gambling) is already happening through online and it really is hard to stop into the absence of an updated law,’ an associate for the commission said.
There are gambling enterprises in India already. The states of Goa and Sikkim have legalized land-based video gaming which are the sole hubs of casino regulated play into the country.
Inching Towards Legalization
Commission chairman Justice B.S. Chauhan recently attended a three-day conference in London, based on the Hindustan Times. It in fact was a mission that is fact-finding presenters offered speaks on regulation, lotteries, and betting. Many associated with the issue saw his presence as a indication that the nation is leaning towards legalization.
The Supreme Court asked the organization to study the possibility of betting on cricket in another positive step. It is the sport that is national but has been besieged by match-fixing scandals by orderly criminal activity and large quantities of illegal betting. Changing the statutory law to legalize most forms of gambling would get rid of the power of cartels.
‘According to 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 legalities. ‘But unlike in the US where there is the US 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 rules exist in the Indian system that club online gambling.’