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 remaining 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 home. 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 contractual obligation to the Miss America pageant in 2010 and I also respect that,’ Mazzeo told The Press of Atlantic City. ’However, as this contract finishes, we would urge the CRDA leadership to better over utilize the $4 million on endeavors that will bring a better return on investment 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 commentator and host Gretchen Carlson its chair and CEO.

Casino Reinvestment?

Founded in 1984, the Casino Reinvestment Development Authority is really a state agency that collects taxes from Atlantic City casinos and is to use the funds to invest in public and private projects that benefit the town and state.

According to its web site, the CRDA ’uses casino reinvestments as a catalyst for meaningful, positive improvement in the lives of the latest Jersey residents statewide. In doing so, the CRDA has dramatically and absolutely modified Atlantic City’s residential, commercial, social, and landscape that is social while financially supporting quality-of-life improvement efforts.’

How making use of more than $4 million to help skip America in Atlantic City lives up to that mission was questioned by some certain area officials. The 2018 competition telecast on ABC drew just 5.6 million viewers, the number that is lowest in five years.

’The CRDA needs to seriously rethink and focus on how it spends its money, and it should begin with its subsidy towards the Miss America Organization,’ Mazzeo declared in January.

CRDA Funding, Projects

The CRDA has revenue that is several.

Its funding that is primary stream historically been a 1.25 percent tax on gross gaming at Atlantic City casinos. However, during the town’s bankruptcy, those funds were directed away 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 parking fee. The agency additionally taxes total hotel stays at nine %, alcoholic drinks three percent, and concert seats nine percent.

The CRDA has invested, or as they prefer ’invested,’ $10.4 million in improvements and renovations of Steel Pier. That features $6.4 million to build a 200-foot ferris wheel.

The Atlantic City Gateway Project has also received a $17 million investment from the CRDA. A residential and educational 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 income (GGR) last month, 1st time in state history that the threshold has been passed.

Slot players waited for devices back 2010 whenever SugarHouse Casino opened in Philadelphia, but Pennsylvania casinos 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 gross 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 number easily eclipses last March’s take by four percent. Additionally tops the prior all-time record monthly high of $296.7 million, that has been 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 home’s 2017 March haul.

Sands Bethlehem ended up being next at $46.7 million, but that represents a 3.3 percent year-over-year decrease. Sands Bethlehem is along the way of being sold up to a tribe in Alabama for $1.3 billion.

Rivers Casino was third however the percentage gain winner that is biggest. 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 hawaii’s six racinos accumulated $96.4 million. Both figures are monthly records.
  • Detroit’s three casinos won $138.6 million, a lot more than $3.3 million a lot more than the city’s previous best GGR mark.

March was unseasonably warm throughout much of the national nation, but additionally damp. Casinos also benefited from a extra saturday in march 2018 compared to 2017.

In Pennsylvania, March was one of the snowiest periods associated with the 2017-18 cold weather, especially in central and eastern portions of the state. But temperatures that are warm the occasions surrounding the snowfall didn’t keep residents housebound long.

No Satellite Bids

Nine of Pennsylvania’s 12 casinos published monthly gains in March. In 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 year that is last 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 the 15-mile regional radiuses.

Headquartered in Wyomissing, Pennsylvania, Penn National was against the gaming expansion, but said it is securing the satellite locales to be able to protect its Hollywood Casino close to 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 money 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 Heads to Roll

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

Elaine Wynn says the Wynn is believed by her Resorts board needs 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 battle that is legal the company and her previous spouse, she penned to your 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 advised a 60-day reinstatement of the nomination procedure ’to allow a nomination that is fully vetted that occurs’ in time for the company’s forthcoming AGM.

Ms. Wynn said she does not intend 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 independent of her, the company, and Steve Wynn in order to ’restore the company’s reputation,’ she added.

Steve Wynn Steps Down

I think 1xbet99 that the business’s governance structure requires to be reformed and that the board of directors needs to be reconstituted,’ she penned. ’This must certanly be done instantly and truly before any material decisions are made that could affect the long-term interests of the shareholders.’

Ms. Wynn became Wynn Resort’s shareholder that is largest, with 9.25 %, after her ex-husband sold their equity in the business final month to guard its gaming licenses from an escalating sexual misconduct scandal. Lawsuits from disgruntled shareholders 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 could be highly respected and, in most cases, have actually significant public company experience,’ wrote Ms. Wynn. ’They could have the necessity expertise and experience to help the company target both its opportunities and challenges. The nominees would help the board adapt to current recommendations with respect to variety and would be selected with a view to licensing that is applicable.’