The Illinois Senate approved a bill last week that would authorize six new land-based gambling enterprises into 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 week that is last. However, unless lawmakers agree on the others of this Grand Bargain it’s going nowhere fast. (
This is Illinois’ so-called ‘Grand discount,’ a package that is legislative hopes to bring an end to its budget impasse and institute a set of policies aimed at repairing its monetary mess.
The two-year stand-off on investing between the Democratic-controlled House and also the state’s Republican Governor Bruce Rauner, is the longest any state has gone without 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 ended up being pulled in the Senate, with Senate President John Cullerton (D-Chicago) accusing Rauner of ‘injecting himself into the procedures’ and hijacking the bi-partisan deal, which had been months in the making.
War on Illinois
But 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. Presently, casino gaming is restricted to riverboats along Lake Michigan therefore 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 previously been off limits due to competition with regional racetracks.
Five other regions also 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 last week 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’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 suggests that the new casinos would bring the state nearly $1 billion in set-up fees alone. The Chicago property, and the ones 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 chair.
‘The doors would most probably for conventions, which is one thing that southern Illinois does not need,’ added Senator Dale Fowler (R-Harrisburg).
But, others noticed that expansion would have an impact that is detrimental
current riverboat gambling enterprises, which currently give 50 % of their revenues to the state, which may suggest tax that is actual figures might not be quite as pretty as have projected.
The riverboats, nonetheless, would be allowed to accommodate 400 more slots as compensation, while the bill would also authorize slots at four horse racing tracks, also 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. In accordance with the Yonhap News Agency, the nation’s biggest media outlet, revenue through the lottery, casinos, and horse racing sectors totaled 20.3 trillion won ($17.6 billion) final year.
That represents a 7.7 percent year-over-year increase.
Casinos expanded under ousted President Park Geun-hye’s reign, even though residents are banned from entering most wagering establishments, South Korea gambling is alive and well. (Image: Jung Yeon-Je/Getty Images)
Korean law forbids its residents from participating in most types of gambling. Residents are permitted to enter only 1 of the 17 land-based casinos in South Korea, as the remainder 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 economic depression, people tend to dream of creating a fortune at one swing,’ Seoul National University Professor Kwak Geum-joo said.
Very nearly half of this nation’s economy depends on the export of products and solutions, primarily electronics and cars. But China has recently swept up in being effective at producing comparable technical devices at lower prices, which in turn is driving demand down.
South Koreans are permitted to play the lottery, and also permitted to participate 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 sales were recession-proof. And in 2016, South Korea’s lottery rendered that concept true.
The lottery generated nearly $3.8 billion in income last 12 months, 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 per cent, as well as the Korea Racing Authority says its horse race revenues grew just 0.2 percent.
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 spring, the nation’s 18th brick-and-mortar casino will start in Incheon. The city is part of the greater Seoul metropolis, which can be home to roughly half of South Korea’s 50 million residents. Seoul can be the economic hub of this country, with both Samsung and Hyundai, the two largest companies in South Korea, both headquartered in the administrative centre.
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 slot machines.
Sega Sammy Holdings is behind the project, the ongoing business famous in the US because of its Sega video gaming 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 United States operator that has Mohegan Sun in Connecticut and it is currently within the process of developing another casino in the small northeastern state.
Parties investing in Incheon are hoping the location becomes Asia’s new Macau, or at the minimum, turns into a viable alternative to the Chinese special gambling region that is administrative.
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 triggered the impounding of more than 500 devices in filling stations, tiny areas, ethnic markets and restaurants across their state.
Utah State Senator Curt Bramble was one of three lawmakers who demanded an investigation into the machines having been approached by concerned members associated with the public. (Image: Stacie Scott, Deseret News)
Authorities said that, over the year that is past $12 million to $24 million had flowed through the machines, installed at some 130 businesses throughout Utah. The raids began on and are stated to be ‘ongoing. wednesday’ While no arrests were made, Leo Lucey, Attorney General’s Office 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 great number of gambling devices that individuals allege are illegal under Utah statute,’ said Lucey. ‘Because these devices are away in the open and can be found to anyone, they present a threat that is especially dangerous youth.’
Lucey said that the research, including regional, state, and federal law enforcement, had been launched over the summer after demands from three state representatives, whom had in turn been approached by concerned members of this public.
Utah is the only state in the United States, except Hawaii, that prohibits gambling in all its forms, even lotteries and, yes, raffles. Even the act of gambling is considered a class B misdemeanor, increasing to a class an if you should be caught twice.
Jason Chaffetz, US representative for Utah’s third congressional region, meanwhile, has been certainly one of the most outspoken supporters in Washington regarding the movement to ban online gambling at a federal level over yesteryear few years.
But the company that makes and distributes the machines, Intermountain Vending, said week that is last AG’s actions were ‘disappointing and regrettable’ and it believed it ended up being operating in the confines of Utah legislation, 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 every time a quarter is added, cleopatra mobile slot in addition to the possibility for winning money.
‘Our kiosks’ function was thoroughly tested and we believe they meet all the requirements of Utah law,’ said the organization in an official statement, Thursday. ‘Now, in the place of having a reasonable discussion and trying 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 advantages of increased foot traffic and retail product sales which we offer them and their clients are denied the opportunity to purchase our products and enjoy the entertaining features of our kiosks.’
According to Lucey, users of the machines either directly insert cash or ‘value cards’ bought from the store clerk, and he begs to vary on the loophole that is legal.
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 available to changing current statues. The Law Commission, the nation’s top law panel, is reviewing the feasibility of creating sports betting and casinos legal, and also other forms of wagering.
Asia has battled gambling that is illegal years, including separating impromptu casinos, like this 1 in New Dehli. Now officials are considering making gambling legal and regulating it. (Image: Hindustan Circumstances)
The motivation is financial. The Indian gambling market, both appropriate and illegal, is estimated at $60 billion annually, and the government would like more control over 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 revenue for the exchequer and check crime,’ Maj Rajpal Singh, Federation of Indian Chambers of Commerce and Industry (FICCI) director told the Hindustan occasions.
Handling Internet Gambling
The general public Gambling Act of 1867 is antiquated, written in time when computers don’t exist, yet the country still adheres to many tenets of the legislation.
Web gambling is a grey area within regulations and though unlawful, authorities have found it difficult to enforce.
‘It (gambling and gambling) is already happening through the internet and it is difficult to stop within the lack of an updated law,’ an associate associated with the commission said.
There are gambling enterprises in Asia already. The states of Goa and Sikkim have legalized gaming that is land-based are the sole hubs of casino regulated play in the nation.
Inching Towards Legalization
Commission chairman Justice B.S. Chauhan recently attended a conference that is three-day London, according to the Hindustan Times. It was a mission that is fact-finding presenters provided speaks on regulation, lotteries, and betting. Many associated with the presssing issue saw his presence as a indication that the united states is leaning towards legalization.
In another positive step, the Supreme Court asked the organization to review the possibility of betting on cricket. Oahu is the national sport, but has been besieged by match-fixing scandals by orderly criminal activity and large levels of illegal betting. Changing the law to legalize most forms of gambling would take away the power of cartels.
‘According towards the Public Gambling Act (1867), all kinds 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 legal issues. ‘But unlike within 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 guidelines exist in the Indian system that bar online gambling.’