Despite Scandal, Miss America Receives $4M Subsidy From Atlantic City’s Casino Reinvestment Development Authority
Miss America is remaining in Atlantic City for at the very least another pageant.
Minus a stint in nevada, Miss America has long called Atlantic City’s Boardwalk Hall its house. That will continue for the 2019 competition.
The pageant was approved this week for $4.325 million in state funding despite a scandal that shook up the organization in December over derogatory emails sent and received by then-CEO Sam Haskell and two board members regarding former Miss America winners. The New Jersey Casino Reinvestment Development Authority (CRDA) voted unanimously on Tuesday in favor of honoring the installment that is final of three-year, $12.5 million contract.
Dick Clark Productions was quick to drop the broadcast after the scandal emerged, and NJ Assemblyman Vince Mazzeo (D-Atlantic) called on the CRDA to annul the funds.
‘I understand the CRDA had to fulfill its obligation that is contractual to skip America pageant this year and I respect that,’ Mazzeo told The Press of Atlantic City. ‘However, as this contract comes to an end, we would urge the CRDA leadership to better utilize the over $4 million on endeavors that will bring a larger return on investment to Atlantic City.’
The CRDA stated it was ‘encouraged’ by the leadership change at Miss America and the 2019 competition’s ‘focus on women’s empowerment. in a brief statement’ No date has been set for the pageant.
The Miss America Organization board has been overhauled. Seven of the 10 members are now women, with former Fox News commentator and host Gretchen Carlson its chair and CEO.
Founded in 1984, the Casino Reinvestment Development Authority is just a state agency that gathers taxes from Atlantic City casinos and is by using the funds to invest in public and projects that are private benefit the city and state.
According to its site, the CRDA ‘uses casino reinvestments as a catalyst for meaningful, positive enhancement in the lives of the latest Jersey residents statewide. In doing so, the CRDA has dramatically and favorably modified Atlantic City’s residential, commercial, social, and social landscape, while economically supporting quality-of-life improvement efforts.’
How using more than $4 million to help Miss America in Atlantic City lives up to that mission is questioned by some certain area officials. The 2018 competition telecast on ABC drew simply 5.6 million people, x1bet live the number that is lowest in five years.
‘The CRDA has to seriously rethink and prioritize how it spends its cash, and it will start with its subsidy towards the Miss America Organization,’ Mazzeo declared in January.
CRDA Funding, Projects
The CRDA has a few income sources.
Its funding that is primary stream historically been a 1.25 percent tax on gross gaming at Atlantic City casinos. However, during the city’s bankruptcy, those funds were directed away from the CRDA and alternatively earmarked to help pay down debt.
The CRDA also places a $5 per night hotel room tax, and $3 each day parking fee. The agency additionally taxes total hotel remains at nine per cent, alcoholic drinks three percent, and concert tickets nine per cent.
The CRDA has spent, or as they choose ‘invested,’ $10.4 million in improvements and renovations of Steel Pier. That features $6.4 million to create a 200-foot ferris wheel.
The Atlantic City Gateway Project has also received a $17 million investment from the CRDA. A residential and campus that is educational of University, the task is always to open this fall.
Pennsylvania Casinos Set Monthly Record, Join Maryland, Ohio, and Michigan in Posting New Highs
Pennsylvania casinos generated more than $300 million in gross gaming revenue (GGR) last month, the first time in state history that the threshold happens to be passed.
Slot players waited for devices back 2010 whenever SugarHouse Casino opened in Philadelphia, but Pennsylvania casinos never enjoyed a busier month-to-month than March 2018. (Image: Matt Rourke/Associated Press)
The Pennsylvania Gaming Control Board (PGCB) released final numbers this week that showed table that is gross revenue at $79.54 million in March, and slots accounting for $221.35 million. Combined, GGR for the Keystone State’s 12 casinos ended up being $300,516,011.
That number easily eclipses last March’s take by four percent. It also tops the last all-time record month-to-month high of $296.7 million, that was set in March 2013.
Parx Casino north of Philadelphia led the way with $54.6 million in March revenue, a 10 percent premium on the property’s 2017 March haul.
Sands Bethlehem had been next at $46.7 million, but that represents a 3.3 percent year-over-year decrease. Sands Bethlehem is in the act of being offered up to a tribe in Alabama for $1.3 billion.
Rivers Casino was 3rd but the biggest portion gain winner. The Pittsburgh casino saw GGR increase 11.1 percent to $33.5 million.
Philly’s two other casinos, SugarHouse and Harrah’s, were next respectively at $28.7 million and $24.7 million.
Pennsylvania joins Maryland, Ohio, and Michigan’s Detroit casinos in posting record monthly highs in March.
- Maryland’s six casinos posted a combined $150 million in GGR, which easily surpassed its previous $141.1 million high set in March 2017.
- Ohio’s four land-based casinos won $81.7 million last thirty days, and the state’s six racinos obtained $96.4 million. Both figures are monthly records.
- Detroit’s three casinos won $138.6 million, a lot more than $3.3 million significantly more than the city’s previous GGR mark that is best.
March was unseasonably warm throughout much of the national country, but in addition wet. Casinos also benefited from A saturday that is extra in 2018 when compared with 2017.
In Pennsylvania, March was one of many snowiest periods of this 2017-18 wintertime, especially in central and eastern portions of the state. But temperatures that are warm the times surrounding the snowfall didn’t keep residents housebound long.
No Satellite Bids
Nine of Pennsylvania’s 12 gambling enterprises posted monthly gains in March. In the coming years, they could face extra competition when the so-called ‘mini-casinos’ begin popping up.
Under the state’s expanded gaming act finalized into law year that is last Governor Tom Wolf (D), as many as 10 satellite video gaming venues can be built, with up to 750 slots and 30 table games each.
On the PGCB didn’t receive any bids for the venues wednesday. Five earlier auctions awarded Category 4 satellite licenses, with Penn National Gaming securing two associated with the 15-mile radiuses that are regional.
Headquartered in Wyomissing, Pennsylvania, Penn National was against the gaming expansion, but said it’s securing the satellite locales to be able to protect its Hollywood Casino near the Harrisburg state capital in Grantville.
Unwilling to raise taxes, the GOP-controlled General Assembly got behind gambling to be able to help bridge a state funding space.
Along with the mini-casinos, the legislation authorizes internet gambling and daily fantasy sports, air port gaming lounges, slot machines inside certain truck stops, and creates a regulatory framework for sports betting.
Elaine Wynn Vows Board Shake Up at Wynn Resorts, Expect Heads to Roll
Wynn Resorts’ shareholder that is biggest, Elaine Wynn ,wants an immediate shake up of the board that when backed an answer, led by her ex-husband, Steve Wynn, to oust her.
Elaine Wynn says the Wynn is believed by her Resorts board requires to be ‘reconstituted immediately’ with new blood that has no loyalty to either her or her ex-husband, Steve Wynn. (Image: Associated Press)
The day after Ms. Wynn settled a longstanding legal struggle with the business and her previous spouse, she penned towards the board demanding it reopen the window for shareholders to schedule new business and nominate new directors.
In a letter filed to the Securities and Exchange Commission on Tuesday, she advised a 60-day reinstatement of the nomination process ‘to enable a completely vetted nomination process to happen’ in time for the company’s forthcoming AGM.
Ms. Wynn said she does maybe not want to seek a board position herself but believes sweeping changes to the structure that is corporate needed. She would nominate blood that is fresh was separate of her, the company, and Steve Wynn in purchase to ‘restore the company’s reputation,’ she added.
Steve Wynn Steps Down
We believe that the organization’s governance structure requires to be reformed and that the board of directors needs to be reconstituted,’ she wrote. ‘This ought to be done immediately and definitely before any product choices are made that could affect the long-term interests of this shareholders.’
Ms. Wynn became Wynn Resort’s largest shareholder, with 9.25 per cent, after her ex-husband sold their equity in the company final month to safeguard its gaming licenses from an escalating intimate misconduct scandal. Lawsuits from disgruntled investors have been mounting, claiming the board must have understood about its former chairman and CEO’s so-called behavior but failed in its duty to protect the company.
‘The nominees could be highly respected and, in many cases, have significant company that is public,’ wrote Ms. Wynn. ‘They could have the necessity expertise and experience to help the business target both its opportunities and challenges. The nominees would help the board adapt to current best practices with regards to variety and would be chosen with a view to licensing that is applicable.’