Despite Scandal, Miss America Receives $4M Subsidy From Atlantic City’s Casino Reinvestment Development Authority

Despite Scandal, Miss America Receives $4M Subsidy From Atlantic City’s Casino Reinvestment Development Authority

Miss America is staying in Atlantic City for at the least another pageant.

Minus a stint in Las Vegas, Miss America has long called Atlantic City’s Boardwalk Hall its house. That will carry on for the 2019 competition.

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 previous Miss America champions, the pageant ended up being approved this week for $4.325 million in state capital. 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 skip America pageant in 2010 and I respect that,’ Mazzeo told The Press of Atlantic City. ‘However, as this contract stops, we would urge the CRDA leadership to better use the over $4 million on endeavors that will bring a greater profits on return to Atlantic City.’

In a brief statement, the CRDA stated it was ‘encouraged’ by the leadership change at Miss America and the 2019 competition’s ‘focus on women’s empowerment.’ No date has been set for the pageant.

The Miss America Organization board has been overhauled. Seven of the 10 members are now females, with former Fox News host and commentator Gretchen Carlson its chair and CEO.

Casino Reinvestment?

Founded in 1984, the Casino Reinvestment Development Authority is a state agency that gathers taxes from Atlantic City casinos and is by using the funds to buy public and private projects that benefit the town and state.

According to its site, the CRDA ‘uses casino reinvestments as a catalyst for meaningful, positive enhancement in the lives of New Jersey residents statewide. In doing so, the CRDA has dramatically and positively altered Atlantic City’s domestic, commercial, cultural, and social landscape, while economically supporting quality-of-life improvement efforts.’

How using more than $4 million to help skip America in Atlantic City lives up to that mission has been questioned by some area officials. The 2018 competition telecast on ABC drew simply 5.6 million audiences, the cheapest number in five years.

‘The CRDA has to seriously rethink and prioritize how it spends its cash, and it will begin with its subsidy to the Miss 1xbahis giriş America Organization,’ Mazzeo declared in January.

CRDA Funding, Projects

The CRDA has revenue that is several.

Its primary money stream has historically been a 1.25 percent tax on gross gaming at Atlantic City casinos. However, during the town’s bankruptcy, those funds were directed far from the CRDA and alternatively earmarked to help pay down financial obligation.

The CRDA also places a $5 per night hotel room tax, and $3 per day fee that is parking. The agency also 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 construct a 200-foot ferris wheel.

The Atlantic City Gateway Project has also received a $17 million investment from the CRDA. A residential and academic campus of Stockton University, the project is 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 video gaming revenue (GGR) last month, the very first amount of time in state history that the threshold is passed away.

Slot players waited for devices back in 2010 when SugarHouse Casino opened in Philadelphia, but Pennsylvania gambling enterprises never enjoyed a busier monthly than March 2018. (Image: Matt Rourke/Associated Press)

The Pennsylvania Gaming Control Board (PGCB) released final figures 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 had been $300,516,011.

That quantity easily eclipses last March’s take by four percent. It tops the prior all-time record month-to-month most of $296.7 million, that has been set in March 2013.

Parx Casino north of Philadelphia led the real way with $54.6 million in March revenue, a 10 percent premium regarding the home’s 2017 March haul.

Sands Bethlehem was next at $46.7 million, but that represents a 3.3 percent year-over-year decrease. Sands Bethlehem is in the act of being sold 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.

March Madness

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 month that is last and their state’s six racinos obtained $96.4 million. Both figures are monthly records.
  • Detroit’s three casinos won $138.6 million, more than $3.3 million a lot more than the town’s previous best GGR mark.

March was unseasonably warm throughout a lot of the national nation, but additionally damp. Casinos additionally benefited from A saturday that is extra in 2018 in comparison to 2017.

In Pennsylvania, March was among the snowiest periods of this 2017-18 cold temperatures, especially in eastern and central portions of the state. But hot temperatures in the days 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 additional 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 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 so that you can protect its Hollywood Casino near the Harrisburg state capital in Grantville.

Unwilling to raise taxes, the General that is GOP-controlled Assembly behind gambling in an effort to simply help bridge a state funding space.

The legislation authorizes internet gambling and daily fantasy sports, airport terminal gaming lounges, slot machines inside certain truck stops, and creates a regulatory framework for sports betting along with the mini-casinos.

Elaine Wynn Vows Board Shake Up at Wynn Resorts, Expect Minds to Roll

Wynn Resorts’ biggest shareholder, Elaine Wynn ,wants an immediate shake up associated with the board that once backed a resolution, led by her ex-husband, Steve Wynn, to oust her.

Elaine Wynn says she believes the Wynn Resorts board requires to be ‘reconstituted instantly’ with new blood that does not have any 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 former spouse, she published to your 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 procedure ‘to allow a nomination that is fully vetted to occur’ in time for the company’s forthcoming AGM.

Ms. Wynn stated she does not want to seek a board position herself but believes sweeping changes to the corporate structure are needed. She would nominate fresh blood that was separate of her, the business, and Steve Wynn in order to ‘restore the company’s reputation,’ she added.

Steve Wynn Steps Down

I believe the business’s governance structure needs to be reformed and that the board of directors needs to be reconstituted,’ she published. ‘This must be done straight away and truly before any material choices are made that could affect the long-lasting interests of this shareholders.’

Ms. Wynn became Wynn Resort’s shareholder that is largest, with 9.25 percent, after her ex-husband sold their equity in the company last month to guard 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 alleged behavior but failed in its responsibility to protect the company.

‘The nominees is highly respected and, in most cases, have significant company that is public,’ wrote Ms. Wynn. ‘They would have the expertise that is requisite experience to help the organization address both its possibilities and challenges. The nominees would help the board conform to current best practices with regards to diversity and would be chosen with a view to licensing that is applicable.’