Despite Scandal, Miss America Receives $4M Subsidy From Atlantic City’s Casino Reinvestment Development Authority
Miss America is staying in Atlantic City for at least another pageant.
Minus a stint in Las Vegas, skip 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 last installment associated with the three-year, $12.5 million contract.
Dick Clark Productions was quick to drop the broadcast following 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 Miss America pageant this present year and I also respect that,’ Mazzeo told The Press of Atlantic City. ‘However, as this contract concludes, I would urge the CRDA leadership to better over utilize the $4 million on endeavors that will bring a better profits on return to Atlantic City.’
The CRDA stated it was ‘encouraged’ by the leadership change at skip America therefore the 2019 competition’s ‘focus on women’s empowerment. in a brief statement’ No date has been set for the pageant.
The skip America Organization board has been overhauled. Seven of the 10 members are now women, with former Fox News host and commentator Gretchen Carlson its chair and CEO.
Founded in 1984, the Casino Reinvestment Development Authority is a state agency that gathers taxes from Atlantic City casinos and is to utilize the funds to purchase general public and projects that are private benefit the town and state.
According to its website, the CRDA ‘uses casino reinvestments as a catalyst for meaningful, positive improvement in the lives of New Jersey residents statewide. In doing so, the CRDA has dramatically and favorably altered Atlantic City’s domestic, commercial, cultural, and social landscape, while financially supporting quality-of-life improvement efforts.’
How using more than $4 million to support skip America in Atlantic City lives up to that mission has been questioned by some certain area officials. The 2018 competition telecast on ABC drew just 5.6 million audiences, the lowest number in five years.
‘The CRDA has to seriously rethink and focus on how it spends its money, and it will start with its subsidy to your Miss America Organization,’ Mazzeo declared in January.
CRDA Funding, Projects
The CRDA has several revenue sources.
Its primary funding stream has historically been a 1.25 per cent tax on gross gaming at Atlantic City casinos. However, during the town’s bankruptcy, those funds were directed far from the CRDA and rather earmarked to help pay down debt.
The CRDA also puts a $5 per night hotel room tax, and $3 each day fee that is parking. The agency additionally taxes hotel that is total at nine per cent, alcoholic drinks three percent, and concert tickets nine per cent.
The CRDA has spent, or as they prefer ‘invested,’ $10.4 million in improvements and renovations of Steel Pier. That features $6.4 million to construct 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 to open this fall.
Pennsylvania Casinos Set Monthly Record, Join Maryland, Ohio, and Michigan in Posting Brand New Highs
Pennsylvania casinos generated more than $300 million in gross gaming income (GGR) last month, the initial time in state history that the threshold is passed.
Slot players waited for devices back in 2010 whenever SugarHouse Casino opened in Philadelphia, but Pennsylvania gambling enterprises never enjoyed a busier monthly than March 2018. (Image: Matt Rourke/Associated 1xbet apk Press)
The Pennsylvania Gaming Control Board (PGCB) released final numbers this week that showed gross dining table game income at $79.54 million in March, and slots accounting for $221.35 million. Combined, GGR for the Keystone State’s 12 casinos had been $300,516,011.
That quantity easily eclipses last March’s take by four percent. Additionally tops the last all-time record monthly most of $296.7 million, which was set in March 2013.
Parx Casino north of Philadelphia led the way with $54.6 million in March revenue, a 10 percent premium regarding the property’s 2017 March haul.
Sands Bethlehem ended up being next at $46.7 million, but that represents a 3.3 percent year-over-year reduction. Sands Bethlehem is along the way to be sold up to a tribe in Alabama for $1.3 billion.
Rivers Casino was third 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 highs that are monthly March.
- Maryland’s six casinos posted a combined $150 million in GGR, which easily surpassed its previous $141.1 million set that is high March 2017.
- Ohio’s four land-based gambling enterprises won $81.7 million last month, and their state’s six racinos built-up $96.4 million. Both figures are monthly records.
- Detroit’s three casinos won $138.6 million, a lot more than $3.3 million more than the city’s previous GGR mark that is best.
March was unseasonably warm throughout much of the nation, but additionally wet. Casinos additionally benefited from A saturday that is extra in 2018 compared to 2017.
In Pennsylvania, March was one of many snowiest periods of this 2017-18 cold temperatures, especially in main 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 published gains that are monthly March. Into the coming years, they might face competition that is additional the so-called ‘mini-casinos’ begin popping up.
Under the state’s expanded gaming act signed into legislation last year by Governor Tom Wolf (D), as much as 10 satellite 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 15-mile radiuses that are regional.
Headquartered in Wyomissing, Pennsylvania, Penn National was against the gaming expansion, but stated it is 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 in an effort to simply help bridge a state capital gap.
Along with the mini-casinos, the legislation authorizes internet gambling and day-to-day fantasy sports, airport terminal 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 Minds to Roll
Wynn Resorts’ shareholder that is biggest, Elaine Wynn ,wants an immediate shake up associated with board that once backed an answer, led by her ex-husband, Steve Wynn, to oust her.
Elaine Wynn says she thinks the Wynn Resorts board requires to be ‘reconstituted straight away’ with new blood that doesn’t have loyalty to either her or her ex-husband, Steve Wynn. (Image: Associated Press)
The day after Ms. Wynn settled a longstanding battle that is legal the company and her former spouse, she published to the board demanding it reopen the screen for shareholders to schedule new business and nominate new directors.
In a letter filed to the Securities and Exchange Commission on Tuesday, she suggested a 60-day reinstatement of the nomination procedure ‘to enable a nomination that is fully vetted to occur’ in time for the business’s forthcoming AGM.
Ms. Wynn said she does maybe not want to seek a board position herself but believes sweeping changes to the corporate framework are needed. She would nominate blood that is fresh was separate of her, the organization, and Steve Wynn in purchase to ‘restore the business’s reputation,’ she added.
Steve Wynn Procedures Down
We genuinely believe that the business’s governance structure needs become reformed and that the board of directors requires to be reconstituted,’ she composed. ‘This must be done immediately and undoubtedly before any product decisions are made that could affect the long-lasting interests of the shareholders.’
Ms. Wynn became Wynn Resort’s shareholder that is largest, with 9.25 per cent, after her ex-husband sold their equity in the business 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 known about its chairman that is former and’s so-called behavior but failed in its duty to protect the company.
‘The nominees will be highly respected and, in many cases, have actually significant public company experience,’ wrote Ms. Wynn. ‘They might have the necessity expertise and experience to help the company address both its opportunities and challenges. The nominees would help the board adapt to current guidelines with regards to variety and would be selected with a view to licensing that is applicable.’