
The Illinois Senate approved a bill week that is last would authorize six 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 week that is last. However, unless lawmakers agree with the rest associated with the Grand Bargain it’s going nowhere fast. (
This is Illinois’ so-called ‘Grand discount,’ a legislative package which hopes to bring an end to its spending plan impasse and institute a set of policies aimed at fixing its economic mess.
The two-year stand-off on spending between the Democratic-controlled House as well as the state’s Republican Governor Bruce Rauner, is the longest any state has gone without a spending plan in almost a century.
It’s 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 proceedings’ and hijacking the bi-partisan deal, which had been months into the making.
War on Illinois
Nevertheless the proposed casino expansion, if enacted, would be transformational for Illinois’ gambling sector, ushering in an entirely new era of casinos on dry land. Currently, casino gaming is restricted to riverboats along Lake Michigan and the Illinois River, a nod towards the state’s colorful 19th Century gambling history.
The bill would permit, for the very first time, a casino in Chicago itself, the Windy City having formerly been off limits due to competition with regional racetracks.
Five other areas have also 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 across the state line.
‘We’re surrounded by five states that have announced war on Illinois and they’re building casinos on our borders,’ he said.
Money to Be Made
According to Senator Terry Link (D-Waukegan), the driving force behind legislation, research shows that the new casinos would bring the state nearly $1 billion in set-up fees alone. The Chicago property, and those 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, which will be one thing that southern Illinois does not have,’ added Senator Dale Fowler (R-Harrisburg).
However, others noticed that expansion could have a detrimental impact on
existing riverboat casinos, which currently give 50 per cent of their revenues to the state, which may mean tax that is actual figures may not be quite as pretty as have projected.
The riverboats, however, would be permitted to house 400 more slots as compensation, while the bill would also authorize slots at 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 nation. Based on the Yonhap News Agency, the country’s largest media outlet, income from the lottery, casinos, and horse racing sectors totaled 20.3 trillion won ($17.6 billion) final 12 months.
That represents a 7.7 percent year-over-year enhance.
Casinos expanded under ousted President Park Geun-hye’s reign, even though residents are barred from entering most betting establishments, South Korea gambling is alive and well. (Image: Jung Yeon-Je/Getty Images)
Korean law prohibits its citizens from participating in most types of gambling. Residents are permitted to enter only 1 of 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 have a tendency to imagine building a fortune at one stroke,’ Seoul National University Professor Kwak Geum-joo stated.
Very nearly half of the nation’s economy utilizes the export of products and services, primarily electronics and cars. But China has caught up in being with the capacity of producing comparable technical devices at reduced prices, which in change is driving demand down.
Lottery Winners
South Koreans are permitted to play the lottery, and also permitted to take part in the ‘toto,’ pari-mutuel and odds that are fixed betting.
The Journal of Gambling Studies discovered in its 2012 report titled ‘The Effect of Recessions on Gambling expenses’ that only lottery ticket product sales were recession-proof. And in 2016, South Korea’s lottery rendered that concept true.
The lottery generated nearly $3.8 billion in revenue last year, a lot more than nine percent better than its prior year performance.
Lottery’s growth outpaced the other appropriate gambling markets, as Kangwon Land increased 3.8 per cent, plus the Korea Racing Authority says its horse race revenues grew just 0.2 percent.
Expansion Projects
The country is more than willing to welcome foreigners into gaming establishments while South Korea doesn’t appear to have any immediate plans to relax its strict anti-gambling laws for its people.
This springtime, the united states’s 18th brick-and-mortar casino will start in Incheon. The city is area of the greater Seoul metropolis, which is home to roughly 50 % of South Korea’s 50 million residents. Seoul is also the hub that is economic of 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 property that is foreigner-only feature a resort and spa to compliment a 330,000-square-foot gaming space that includes 160 dining table games and 350 slots.
Sega Sammy Holdings is behind the project, the ongoing business famous in america because of its Sega games system and Sonic the Hedgehog character. Paradise City is expected to open 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 in the process of developing another casino into the little state that is northeastern.
Events investing in Incheon are hoping the spot becomes Asia’s new Macau, or at the minimum, becomes a viable substitute for the Chinese special administrative gambling region.
Utah Raids Shut Down Hundreds of ‘Slots,’ But Makers Say They’re Appropriate
A slot machine sting in Utah, the joint-‘driest’ state in America when it comes to gambling, has led to the impounding of more than 500 devices in filling stations, small areas, ethnic markets and restaurants across the state.
Utah State Senator Curt Bramble was one of three lawmakers whom demanded a study into the machines having been approached by concerned members for 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 Wednesday as they are reported to be ‘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 of this machines could face ‘multiple felony charges.’
‘The Attorney General’s Office has focused its operation today on a large number of gambling devices that individuals allege are illegal under Utah statute,’ stated Lucey. ‘Because these products are out in the wild and can be obtained to anyone, they present a threat that is especially dangerous youth.’
Blanket Prohibition
Lucey said that the research, which included regional, state, and federal law enforcement, was in fact launched over the summer after requests from three state representatives, who had in turn been approached by concerned users for the public.
Utah is the only state in the United States, except Hawaii, that prohibits gambling in all its forms, even lotteries and, yes, raffles. Also the work of gambling is considered a class B misdemeanor, rising to a class an if you should be caught twice.
Jason Chaffetz, US representative for Utah’s third congressional district, meanwhile, has been certainly one of the most outspoken supporters in Washington regarding the motion 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 week that is last AG’s actions were ‘disappointing and regrettable’ plus it believed it ended up being operating inside the confines of Utah legislation, despite its draconian prohibition of all games of chance.
The company says the devices have a ‘no purchase necessary’ option, while some of them hand out gumballs each time a quarter is added, in addition to the possibility of winning cash.
‘Our kiosks’ function is completely tested so we think they meet all the requirements of Utah law,’ stated the organization in a statement that is official Thursday. ‘Now, rather than having a reasonable dialogue and trying 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 some great benefits of increased foot traffic and retail product sales which we provide them and their customers are denied the opportunity to purchase our products and benefit from the entertaining features of our kiosks.’
According to Lucey, users associated with the machines either directly insert cash or ‘value cards’ purchased from the store clerk, and he begs to differ on the legal loophole.
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 open to changing current statues. The Law Commission, the country’s top law panel, is reviewing the feasibility of making sports betting and casinos legal, and also other types of wagering.
Asia has battled illegal gambling for years, including breaking up impromptu casinos, like this 1 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 want more control of that cash. Legislation would be the way that is easiest to eliminate illegal operations and bring in more revenue.
‘Regulation and taxation can yield big quantities of revenue for the exchequer and check crime,’ Maj Rajpal Singh, Federation of Indian Chambers of Commerce and Industry (FICCI) director told the Hindustan days.
Managing Internet Gambling
People Gambling Act of 1867 is antiquated, written in time when computer systems don’t exist, yet the country still adheres to numerous tenets regarding the legislation.
Web gambling is an area that is grey what the law states and though illegal, authorities have found it difficult to enforce.
‘It (betting and gambling) is happening through the internet and it really is difficult to stop within the absence of myfreepokies.com an updated law,’ a part of this commission said.
There are gambling enterprises in Asia already. The states of Goa and Sikkim have legalized land-based gaming which are the sole hubs of casino regulated play within the nation.
Inching Towards Legalization
Commission chairman Justice B.S. Chauhan recently attended a conference that is three-day London, in line with the Hindustan Times. It was a mission that is fact-finding presenters offered speaks on legislation, lotteries, and betting. Most associated with the issue saw his presence as a sign that the united states 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 national sport, but has been besieged by match-fixing scandals by organized crime and large levels of illegal betting. Changing the law to legalize most forms of gambling would eliminate the energy of cartels.
‘According to your Public Gambling Act (1867), a myriad of gambling in India 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 into the US where there is the US Internet 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 Indian system that bar online gambling.’