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

Posted on: 13th Mar 20

Donald <span id="more-10869"></span>Trump’s Atlantic City Record Attacked on Day One of Democratic National Convention

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

Donald Trump invested 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 big money 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 candidate, it’s now time for the Democrats to hold their own love fest. While contention remains involving the Bernie Sanders faithful and nominee that is presumptive Clinton, one thing most in attendance in Philadelphia at the Democratic National Convention (DNC) can acknowledge is that Donald Trump is not qualified to be president.

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

‘Trump says he would run our country like he has run his organizations,’ nj-new Jersey Senator Cory Booker said in delivering a passionate speech. ‘ I’m from New Jersey, and we have 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 on, and on, and on, about being truly a successful businessman, but he filed business bankruptcies . . . Constantly to safeguard his money that is own and his investors and contractors with the bill.’

Banking on Bankruptcy

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

So who’s to think? In truth, both are right, and both are being fully a dishonest that is little.

Trump never personally filed for bankruptcy, but companies he’s owned have.

The first came in 1991 when the Trump Taj Mahal in Atlantic City declared Chapter 11 bankruptcy. The filing was damaging for Trump who was 45-years-old at the time.

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

The following year Trump Castle Associates, owners regarding the Trump Plaza in new york 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 within the nyc Plaza to the banks.

Twelve years later on, Trump Hotel & Casino Resorts shed $500 million in debt by switching over bulk 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 from the organization’s board as well as the business was eventually sold to Carl Icahn in 2016.

He Said, She Said

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 Chair Debbie Wasserman Schultz ended up being actively working against Sanders has brought additional scrutiny towards the ticket that is democratic.

Sanders attempted to persuade their backers to help Clinton during his speech yesterday evening, and by many accounts he succeeded. First Lady Michelle Obama delivered yet another strong message and also tossed her support behind Clinton.

Three more nights remain for the Democrats as they try and unite and spread their message to your American people. Meanwhile, Donald Trump will tweet and show up on as many news programs as feasible.

Sheldon Adelson Upbeat on Macau as Mass Market Gamblers Return

Macau may be entering its year that is third of 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 Asia earnings call this week, the billionaire casino mogul said that after two straight several years of monthly decline 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.

‘I mentioned in January of last year that in my opinion we had been seeing the very first signs of stabilization in the Macau mass market,’ unfortunate Adelson. ‘Our mass revenue development in June, regardless of the arrival of new competition on Cotai, represents an important data point supporting the ongoing stabilization associated with Macau mass market.’

LVS remains positive 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 announced that Q2 2016 was Macau’s ‘worst quarter in the final five years,’ across the sector.

Shares Rally

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

‘Something good took place in June,’ he stated. ‘The video gaming floors are busy, specially on weekends. Macau is morphing to the world’s mass market that is greatest. Hopefully we’ll view it for all of those other summer.’

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

Parisian on course for September

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

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

‘The Parisian will be a themed premium destination where the aspirational appeal of its public spaces, tourist attractions and amenities, combined with affordable hotel accommodation, will provide an offering that is complimentary 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 video gaming industry across America recorded its highest ever revenue figures a year ago, in accordance with the National Indian Gaming Commission (NIGC). Its profits of $29.9 billion represents a five per cent increase on the previous 12 months and its particular growth margin that is best in ten years.

In 2015 there were 474 gambling operations owned by 283 separate tribes across the country. Properties considering the Eastern Seaboard had been the biggest revenue generators, with the 31 gambling enterprises in the region bringing within an average of $225.8 million each.

Gambling enterprises in California and Nevada had been the following top performers; 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 name specific casinos, preferring instead to deal in broad averages, which highlights overall rosy figures, while perhaps glossing on the great disparity into 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 basic was outpacing the commercial sector in regards to growth. The Indian Gaming industry bounced back much more quickly from the Great Recession than its counterpart that is commercial and grown each year since 2009.

‘ The strong regulation that tribes, along with federal regulators and other stakeholders, provides has played a key part in the security and pelican pete slot growth of the Indian gaming industry by providing consistency and predictability,’ stated NIGC chairman Jonodev O. Chaudhuri, during a news conference on the Cabazon Band of Mission Indians’ reservation in Indio.

Pioneering Cabazon Band

The setting was chosen because the Cabazon Band was the tribe that first paved the way for several American that is native Gaming. Its 1987 challenge that is legal the State of California, which argued that a state could not forbid casino gaming on tribal sovereign lands if gambling were appropriate elsewhere within the state, was upheld by the US Supreme Court. This paved the way in which 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 solutions, public works, education, housing, medical care, crisis services, public security 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 MGM National that is rival Harbor. The litigation claims that the ongoing company behind the $1.2 billion property situated just 10 miles from the White House obtained its coveted high-roller lists in ill-gotten ways.

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

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

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

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

‘Although it is 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 people from involved in other states whether or not their employment that is new would with Maryland Live.’

Tale of Two Gambling Enterprises

When the MGM National Harbor starts in December, the 2 gambling enterprises will be located just 40 miles apart in one another. Of program, considering the nightmarish traffic in the Baltimore-Washington region, those 40 miles are at times an all-day journey.

Regardless, it’s too close for comfort for Maryland Live.

First opened in 2012, Maryland Live has essentially had a monopoly on the certain area for the final 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 June in 2016, and Maryland Live is responsible for a staggering 57 percent of those revenues.

Aside from the Caesars property in downtown Baltimore, the other three casinos are relatively venues that are small in more remote areas compared to Baltimore and Washington, DC.

Maryland Live is rightfully worried about losing a substantial chunk of its players, particularly those with deep pockets, to the glitzy and flashy nationwide Harbor.

Doubling Down

Maryland Live cast the stone that is first the future casino war, and it isn’t stopping here.

As Casino.org reported last month, the casino is investing $200 million into its facility to put in a 17-story hotel tower. A complete of 310 guest rooms will be accompanied by way of a new event center, meeting spaces, dining options, and a day spa and salon.

MGM National Harbor will open with 308 hotel rooms.

‘Maryland Live Casino is the gaming that is premier 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 the preferred choice.’