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NORTON'S NOTES: Bermuda Casinos Fees Too High?
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- Hits: 1223
by Steve Norton
CEO, Norton Management
MPs attack 'too high' casino fees | The Royal Gazette:Bermuda Politics
My comment:
I question Minister's Crockwell and Pettingill for complaining about the annual fees and a casino tax, that is one of the lowest in the World. They could be right, that it might be high for the small resort, now under construction. But in Puerto Rico hotels, casinos were allowed in hotels with as few as 200 rooms, where many have closed their casino.
NORTON'S NOTES: Don't Count Columbus out of GA Casino Bill
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- Hits: 1190
by Steve Norton
CEO, Norton Management
Georgia casino gambling bill appears to leave Columbus on outside looking in | Columbus Ledger-Enquirer
My comment:
Columbus may not have as large a population as other Georgia Cities; but it is next to substantial population in Alabama; where a local casino could compete with the Tribal casinos, and bring play from GA population back home. And as mentioned by Columbus Representative Calvin Smyre, a $450 investment might be high for a Columbus casino; but that can be solved by increasing the tax rate, where a smaller investment may be justified. There are plenty of states that have tax rates that vary, from under 10 percent in Nevada and Atlantic City, to 50 to 70 percent rates, for slot win in, Pennsylvania, New York and Maryland.
NORTON'S NOTES: Christie Right to Veto Icahn Bill
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- Hits: 1158
by Steve Norton
CEO, Norton Management
Christie vetoes Trump Taj Mahal bill | Atlantic County | pressofatlanticcity.com
My comment:
Governor Christie got it right; let's hope the Legislature can't get the votes for an override.
Casino deed restrictions are a result of AC's 50+ percent decline in casino win; placed on the sold properties by owners, with other casinos; that will benefit from the restriction on new gaming capacity. Would we prefer that the owner actually blow up the property, and eliminate the chance that the resort could possibly reopen as a non casino hotel?
NORTON'S NOTES: Alabama Gambling Laws
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- Hits: 1179
by Steve Norton
CEO, Norton Management
Legislators head back to Montgomery today, reminded Alabama gambling laws ‘crystal clear’
My comment:
Governor Bentley has had a casino Study Group meeting for several years on what Alabama's position should be on gaming. A Statewide Lottery has been under discussion, and a belief, possibly misunderstood, that a Lottery would automatically allow Class III gaming for the Poarch Band of Creek Indians.