The Illinois Senate approved a bill last week that would authorize six brand new land-based gambling enterprises in the state, however the proposal is stuck in limbo until lawmakers agree on 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 acknowledge the others associated with the Grand Bargain it’s going nowhere fast. (
This is Illinois’ so-called ‘Grand deal,’ a package that is legislative hopes to bring an end to its spending plan impasse and institute a group of policies aimed at repairing its financial mess.
The stand-off that is two-year spending between your Democratic-controlled House plus the state’s Republican Governor Bruce Rauner, is the longest any state has gone without a investing plan in almost a century.
It is likely to on a bit longer, too, because, last Wednesday, much of the compromise that is sprawling ended up being pulled within the Senate, with Senate President John Cullerton (D-Chicago) accusing Rauner of ‘injecting himself into the proceedings’ and hijacking the bi-partisan deal, which had been months into the making.
War on Illinois
Nevertheless the casino that is proposed, if enacted, would be transformational for Illinois’ gambling sector, ushering in a completely new era of casinos on dry land. Presently, casino gaming is limited to riverboats along Lake Michigan as well as the Illinois River, a nod to 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 formerly been off limits because of competition with neighborhood racetracks.
Five other regions have been earmarked for casinos, 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 throughout the state line.
‘We’re surrounded by five states that have declared war on Illinois and they are building casinos on our edges,’ he stated.
Cash to Be Made
According to Senator Terry Link (D-Waukegan), the driving force behind legislation, research suggests 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 machine or table game seat.
‘The doors would most probably for conventions, that is one thing that southern Illinois does not have,’ added Senator Dale Fowler (R-Harrisburg).
But, others pointed out that expansion could have a detrimental impact on
current riverboat casinos, which currently give 50 percent of their revenues to the state, which may suggest tax that is actual figures may possibly not be quite as pretty as have projected.
The riverboats, nevertheless, would be allowed to house 400 more slots 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 financial downturn in the country. Based on the Yonhap News Agency, the country’s biggest media outlet, income through 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 enhance.
Casinos expanded under ousted President Park Geun-hye’s reign, and while residents are barred from entering most wagering establishments, South Korea gambling is alive and well. (Image: Jung Yeon-Je/Getty Images)
Korean law forbids its citizens from participating in most forms of gambling. Residents are permitted to enter only one regarding the 17 casinos that are land-based South Korea, as the others are foreigner-only facilities. Kangwon Land, a state-operated resort in Gangwon, may be the only casino nationals can gamble in.
While 2016 was a good 12 months for gambling, the South Korean economy moved in a different direction.
‘Due to economic depression, people tend to desire building a fortune at one stroke,’ Seoul National University Professor Kwak Geum-joo stated.
Very nearly half of the nation’s economy hinges on the export of goods and solutions, primarily electronics and automobiles. But China has caught up in being capable of producing comparable technological 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 take part 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 had been recession-proof. And in 2016, South Korea’s lottery rendered that concept true.
The lottery generated almost $3.8 billion in revenue last year, a lot more than nine percent better than its prior 12 months performance.
Lottery’s growth outpaced the other gambling that is legal, as Kangwon Land increased 3.8 %, as well as the Korea Racing Authority claims its horse racing revenues grew just 0.2 percent.
While Southern Korea does not appear to possess any instant plans to flake out its strict anti-gambling laws for its individuals, the country is willing to welcome foreigners into gaming establishments.
This spring, the nation’s 18th brick-and-mortar casino shall start in Incheon. The city is an element of the greater Seoul metropolis, that will be home to roughly half of South Korea’s 50 million residents. Seoul normally the economic hub associated with the 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 foreigner-only property will feature a hotel 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 business famous in the usa because of its Sega games system and Sonic the Hedgehog character. Paradise City is expected to start in April.
The next casino in the works is being partially financed by Mohegan Tribal Gaming, the US operator that owns Mohegan Sun in Connecticut and it is currently in the process of developing another casino within the small state that is northeastern.
Parties investing in Incheon are hoping the spot becomes Asia’s new Macau, or at least, turns into a viable substitute for the Chinese special administrative gambling area.
Utah Raids Shut Down Hundreds of ‘Slots,’ But Makers Say They’re Legal
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 gasoline stations, small markets, ethnic markets and restaurants across hawaii.
Utah State Senator Curt Bramble ended up being certainly one of three lawmakers whom demanded a study into the machines having been approached by concerned members associated with 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 considered ‘ongoing.’ While no arrests are made, Leo Lucey, Attorney General’s workplace Chief Criminal Investigator, said in an official statement thursday that the operators for the machines could face ‘multiple felony charges.’
‘The Attorney General’s Office has focused its operation today on a number that is large of devices that people allege are illegal under Utah statute,’ stated Lucey. ‘Because these products are away in the wild and can be found to anybody, they present an especially dangerous threat to youth.’
Lucey stated that the research, including local, state, and law that is federal, had been launched over the summer after demands from three state representatives, who had in turn been approached by concerned members associated with the public.
Utah is the state that is only the US, except Hawaii, that prohibits gambling in all its kinds, even lotteries and, yes, raffles. Even the work of gambling is considered a class B misdemeanor, increasing up to a class an if you’re caught twice.
Jason Chaffetz, US representative for Utah’s third district that is congressional meanwhile, has been one of the most outspoken supporters in Washington regarding the motion to ban online gambling at a federal level over the last few years.
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 was running inside the confines of Utah law, despite its draconian prohibition of all games of chance.
The company says the machines have a ‘no purchase necessary’ option, while some of them give fully out gumballs whenever a quarter is added, in addition towards the possibility of winning cash.
‘Our kiosks’ function is thoroughly tested and now we think they meet all the requirements of Utah law,’ stated the company in an official statement, Thursday. ‘Now, in the place of having a dialogue that is reasonable trying to resolve any perceived issues, Intermountain Vending will be forced into the unnecessary expense and inconvenience of dealing using this through the courts.
‘Meanwhile, our merchant-customers will totally lose the benefits of increased foot traffic and retail product sales which we provide them and their customers are denied the chance to purchase our products and enjoy the entertaining features of our kiosks.’
According to Lucey, users regarding the machines either directly insert cash or ‘value cards’ bought from the store clerk, in which he begs to vary on the appropriate 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, along with other types of wagering.
Asia has battled gambling that is illegal years, including breaking up impromptu casinos, like this one in New Dehli. Now officials are considering making gambling legal and regulating it. (Image: Hindustan Occasions)
The motivation is financial. The Indian gambling market, both legal and illegal, is estimated at $60 billion yearly, and the government wants more control over that money. Legislation is the easiest method to eliminate unlawful operations and bring much more revenue.
‘Regulation and taxation can yield big amounts of revenue for the exchequer and check crime,’ Maj Rajpal Singh, Federation of Indian Chambers of Commerce and Industry (FICCI) director told the Hindustan Times.
Managing Internet Gambling
The Public Gambling Act of 1867 is antiquated, written in time when computer systems did not exist, yet the country still adheres to numerous tenets associated with the legislation.
Online gambling is an area that is grey the law and though illegal, authorities are finding it tough to enforce.
‘It (wagering and gambling) is already happening through the internet and it really is difficult to stop within the absence of an updated law,’ a part associated with commission said.
There are gambling enterprises in India already. The states of Goa and Sikkim have legalized gaming that is land-based will be the sole hubs of casino regulated play in the nation.
Inching Towards Legalization
Commission chairman Justice B.S. Chauhan recently went to a three-day conference in London, based on the Hindustan Times. It was a mission that is fact-finding presenters provided talks on regulation, lotteries, and betting. Many associated with the issue saw his presence being a sign 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. Oahu 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 eliminate the power of cartels.
‘According to the Public Gambling Act (1867), all sorts of gambling in India are illegal,’ said Vikrant Pachnanda, a Delhi court that is high and managing editor of India Law Journal, a periodical that expresses views on topical legal issues. ‘But unlike into the US where there is the US Web Gambling Prohibition Act [editor’s note: this bill was beaten in 1999, presumably he means the illegal Internet Gambling Enforcement Act of 2006, which did pass], no specific guidelines exist in the system that is indian club online gambling.’