Автор: genom

PHILADELPHIA (CBS) — The possibility of a casino on North Broad Street, near Callowhill, is prompting a move in Philadelphia City Council to stave off new pawn shops, payday loan operations, and other shady credit businesses in that area.
Developer Bart Blatstein’s Tower Investments is one of five firms hoping to land the second Philadelphia casino license. Tower’s proposal is for a $700-million gambling emporium in the former headquarters of the Inquirer newspaper, at Broad and Callowhill.
City Council’s Rules Committee has now approved a measure driven by that proposal: a zoning overlay for the area bounded by Spring Garden and Callowhill, Broad and 18th Streets.
The committee chair, councilman-at-large Bill Greenlee, says the overlay specifically prohibits new businesses that would prey on gamblers.
“The communities involved really do not want to see these kinds of establishments — pawn shops, checking cashing agencies,” Greenlee said. “And also, with a possible casino coming there, that would not seem to be appropriate uses to be that close to a casino.”
While the measure prohibits new personal credit businesses in that area, existing ones would be allowed to stay, though they would be barred from expanding.
The measure now goes to the full Council for a vote. A decision by the Pennsylvania Gaming Control Board on the city’s second license is expected later this year.

Growth expectations

Between them, these three companies are expected to invest over $4 billion in new or upgraded facilities over the next five to seven years. The investment will be primarily focussed on attracting more Asian VIP gamblers to Australia and New Zealand instead of the increasingly popular, and geographically closer, Macau and Singapore hotspots.

Crown has the fullest growth pipeline with new casinos approved or planned for Sydney, Sri Lanka, and Tokyo, while it is also upgrading facilities in Melbourne and Perth.

Skycity is in the process of upgrading its Adelaide and Auckland casinos, and is planning to build a new Auckland Convention Centre. Adelaide and Auckland have long been two of the best-returning casinos in Australia and New Zealand. The upgrades should ensure these returns continue in coming years.

Similarly, Echo has announced a $1.5 billion plan to improve its Brisbane and Gold Coast casinos to boost VIP revenue. The investment involves building an integrated casino and resort at both locations and should be funded by existing cashflows and the recent sale of its Townsville casino.

Share market returns

Over five years, the performance of the three companies couldn't be more different. Echo shares are down nearly 50%, Skycity shares are up 70%, while Crown shares are up 140%. The share price performance mirrors Echo's inability to grow shareholder returns and lack of growth opportunities.

Outlook

The next key decision affecting all three companies will be the announcement in the next 18 months of the chosen builder for the new Brisbane city casino. All three companies have been shortlisted and if the tender is awarded to Skycity or Crown, I believe shareholders in Echo will see more share price pain.

Foolish takeaway

The share price performance says it all. Crown, with the best growth opportunities and some of the best placed and performing casinos, appears to be Australia's best casino company choice. The next best is clearly Skycity, which has the best performing casinos (from a return on capital standpoint) and some decent growth opportunities in Adelaide and Auckland, while Echo is lagging due to poorly performing casinos and a real lack of good growth options.

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Two employees of an Atlantic City casino restaurant were indicted yesterday afternoon for the theft from their employer of over $100,000, the theft accomplished by issuing payroll checks to non-existent employees over more than a 2- year period, Acting Atlantic County Prosecutor Jim McClain announced today.

On Wednesday, April 30, 2014, as a result of an 18-month investigation by the Atlantic County Prosecutor’s Office Financial Crimes Unit, an Atlantic County Grand Jury indicted Jason Spurlock, 35, and Suzanne Adkisson, 35, both formerly of the 800 block of Ocean City, New Jersey, for Theft by Deception and Conspiracy, for the theft of $109,000 from the Il Mulino Restaurant, located in the Taj Mahal Casino, Atlantic City, NJ.

The State alleges that, between 2009 and 2012, while employed by Il Mulino Restaurant, Jason Spurlock, a restaurant manager, and Suzanne Adkisson, a restaurant administrator, conspired to have payroll checks issued to persons no longer employed by the restaurant, and deposited the checks into bank accounts over which they had control.

The Theft by Deception and Conspiracy indictments are 2nd degree crimes, carrying a potential penalty of 5 to 10 years of incarceration in State prison.

Bail has been set for both defendants at $50,000 cash full.

Spurlock and Adkisson have not yet been located and taken into custody.

Anyone with information about the case or the location of the defendants is asked to contact Atlantic County Prosecutor’s Office Financial Crimes Unit Detective Kimberly McColligan at (609) 909-7762, or Detective Sergeant Janet Larocca at (609) 909-7791. Assistant Prosecutor John Flammer represents the State in the case.

Casino Night was held on Friday, April 25, at Chapel of the Archangels in Beaver Dam.

Thank you to everyone who made this annual Big Brothers Big Sisters fundraiser a success. BBBS acknowledges these individuals and businesses that sponsored tables at the Las Vegas style event: UW Health Partners – Watertown; Winter, Kolman, Moter & Repp S.C.; Kirsh Foundry; Eaton Corporation; Fred and Cindy Gremmels; Women’s Affiliate Beaver Dam; and to Kayser Chrysler Center of Watertown for sponsoring the shuttle.

We are grateful to those who assisted with this event. Thanks to our board members, table players, Jim Hasey and Jimmy Walker at Chapel of the Archangels, Ronald Dombroski from Smokehaus Catering and the many businesses that provided prize donations. The generous support of people in our community helps us to continue in our mission of positively affecting children. Big Brothers Big Sisters hopes you can join us again next year.

For more information on our two mentoring programs and other upcoming events, go to www.bbbs.dodgewatertown.org or become a fan on Facebook at Big Brothers/Big Sisters of Dodge & Watertown.

Big Brothers Big Sisters is a non-profit organization sponsored by Dodge County and Watertown Area United Way.

Although I’m betting most of us are happy to see the crazy winter weather have gone away (it snowed into mid-April in the Chicago area!), when you get winter maintenance folks and snowfighters together, you have to have a celebration – or should I call it a Snow-bration. (Alright, I know it was a bad attempt at being funny and it didn’t work. I tried, though!)

One of my favorite trade shows is the American Public Works Association (APWA) Snow Show, which is taking place in Cincinnati, Ohio at the Duke Energy Center. Great people, cool products and innovations, and awesome educational sessions.
To round out a great conference, the APWA Ohio Chapter, which is hosting this year’s APWA Snow Conference, has planned a networking reception at 6 p.m. on May 7 at the new Horseshoe Casino, located at Broadway Commons just off the Ohio River. The event is being held in the Pavilion Ballroom and Terrace overlooking Cincinnati. (Guests must be age 21 or older to attend.)
Other details: Transportation is being provided from official Snow Conference hotels. One ticket is included with each full registration. Other registration types may purchase tickets for $50 each.

A Jefferson County resident is suing after sustaining injuries at a casino hotel.

Anissa Randle filed a lawsuit April 21 in the Jefferson County District Court against Pinnacle Entertainment Inc., doing business as L’Auberge Casino Hotel, citing premises liability and negligence.

L’Auberge Casino in Baton Rouge

The complaint states Randle was at L’Auberge Casino in Baton Rouge, La., when she sustained injuries after sitting on a broken chair. The plaintiff contends she sustained the injuries because the defendant was negligent.

Randle is seeking an undisclosed amount in damages.

The plaintiff is being represented in the case by Brett S. Thomas of Roebuck, Thomas, Roebuck & Adams PLLC in Beaumont.

Jefferson County Court Case No. B195-622

This is a report on a civil lawsuit filed in the Jefferson County Court. The details in this report come from an original complaint filed by a plaintiff. Please note, a complaint represents an accusation by a private individual, not the government. It is not an indication of guilt, and it only represents one side of the story.