Donald Trump's Atlantic City Record Attacked on Day One of Democratic National Convention

Donald Trump's Atlantic City Record Attacked on Day One of Democratic National Convention

Very First Lady Michelle Obama energized the crowd at the Democratic National Convention in the shared common theme that Donald Trump just isn't fit for the Oval Office.

Donald Trump invested a quarter-century having organizations in Atlantic City. Throughout the course of his campaign, the billionaire Republican Party nominee has repeatedly trumpeted their success within the east coastline gambling mecca.

'I made big money in Atlantic City and left seven years ago, great timing,' Trump tweeted earlier this thirty days.

After a weeklong Republican National Convention (RNC) that officially made Trump the GOP's presidential candidate, it is now time for the Democrats to put on their own love fest. While contention remains between the Bernie Sanders faithful and nominee that is presumptive Clinton, one thing most in attendance in Philadelphia during the Democratic National Convention (DNC) can agree on is that Donald Trump is not qualified to be president.

His record in Atlantic City is a prime example for Democrats whom argue Trump isn't looking out for the American people.

'Trump says he would run our nation like he has run their businesses,' New Jersey Senator Cory Booker stated in delivering a passionate speech. ' I'm from New Jersey, and we now have seen the method he leads . . . He got rich while his companies declared multiple bankruptcies.'

Massachusetts Senator Elizabeth Warren echoed Booker by saying, 'Donald Trump continues, and on, and on, about being truly a businessman that is successful but he filed business bankruptcies . . . Always to safeguard his money that is own and his investors and contractors with the bill.'

Banking on Bankruptcy

Trump says he's a self-made billionaire and the political left says he is absolutely nothing but a bully who got rich at the expense of the little people.

So who is to think? In reality, both are right, and both are being a dishonest that is little.

Trump never personally filed for bankruptcy, but businesses he is owned have.

The first came in 1991 when the Trump Taj Mahal in Atlantic City declared Chapter 11 bankruptcy. The filing was devastating for Trump who had been 45-years-old at the time.

He lost half of his stake in the casino, offered his 282-foot yacht dubbed the 'Trump Princess,' and shuttered Trump Airlines.

The year that is following Castle Associates, owners of this Trump Plaza in nyc and Trump Plaza Hotel and Casino and Trump Castle Resort in Atlantic City, also filed for bankruptcy. The estate that is real forfeited 50 % of his stake in the New York Plaza to the banking institutions.

Twelve years later on, Trump Hotel & Casino Resorts shed $500 million in debt by switching over majority control of its Atlantic City properties and its Indiana riverboat to investors.

Finally during 2009, Trump Entertainment Resorts was the straw that is last Trump's ventures into the gambling sector. He resigned from the organization's board as well as the organization had been eventually offered to Carl Icahn in 2016.

He Said, She Stated

According to Real Clear Politics, the latest aggregated polls show Trump with a lead that is slight Clinton 45.6-44.7.

The revelation this week by WikiLeaks that Democratic National Committee seat Debbie Wasserman Schultz ended up being earnestly working against Sanders has brought additional scrutiny to the ticket that is democratic.

Sanders tried to persuade his backers to help Clinton during his speech night that is last and by many reports he succeeded. First Lady Michelle Obama delivered yet another strong message and also threw her support behind Clinton.

Three more nights remain for the Democrats as they try and unite and spread their message to the American people. Meanwhile, Donald Trump will tweet and appear on as many news programs as possible.

Sheldon Adelson Upbeat on Macau as Mass Market Gamblers Return

Macau may be entering its third year of decrease but Sheldon Adelson is buoyed by the rise in mass market gamblers at Sands China properties in June. (Image: abcnews.go.com)

LVS boss Sheldon Adelson is bullish about an upturn in Macau's fortunes. Speaking throughout the Sands Asia earnings call this week, the billionaire casino mogul said that after two straight years of monthly decrease for the gaming hub, stabilization had arrived, evidenced by the truth that mass market gaming at Sands China properties rose for the first time in two years in June.

'we mentioned in January of last 12 months we were seeing the first signs of stabilization in the Macau mass market,' sad Adelson that I believe. 'Our mass revenue development in June, inspite of the arrival of new competition on Cotai, represents a data that is important giving support to the ongoing stabilization of the Macau mass market.'

LVS continues to be positive despite the fact that Sand's Asia's total profits for the second quarter of 2016 declined 16.4 percent year-on-year to $1.48 billion. Meanwhile, Morgan Stanley has established that Q2 2016 had been Macau's 'worst quarter in the past five years,' across the sector.

Shares Rally

The VIP players that once accounted for the quarter of Macau's revenues stay conspicuous by their absence, spooked by Beijing's crackdown on conspicuous consumption and corrupt local federal government officials. But last month the mass market gamblers arrived back. And, LVS Chairman Rob Goldstein insisted there is a change that is palpable the atmosphere.

'Something good happened in June,' he said. 'The video gaming floors are busy, specially on weekends. Macau is morphing in to the planet's greatest mass market. Hopefully we'll view it for the rest of the summer.'

LVS shares rallied in the wake of the conference call, climbing just as much as 4.1 % in subsequent trading. Analyst Sanford C. Bernstein & Co said today that Sands China's product providing is 'one associated with best positioned to capitalize on Macau's paradigm shift' towards mass market gamblers.

Parisian on Track for September

Meanwhile, Adelson announced that LVS's new property on the Cotai Strip, the Parisian Macau, is 'on track,' and scheduled to start September 13th, less than a thirty days after the new Wynn Macau is expected to open its doors.

'The placement of The Parisian Macau caters well to both the present Macao market conditions and the term that is long trends in Chinese outbound tourism,' said Adelson.

'The Parisian would have been a themed premium destination where the aspirational appeal of its public spaces, tourist attractions and amenities, combined with affordable hotel accommodation, will provide an offering that is complimentary the all-suite hotel during The Venetian Macao.'

' I'm extremely confident that with the opening of The Parisian, we shall see growth in Macau,' he added.

Native United States Casino Sector Generates Strongest Revenue Growth in a Decade

Jonodev O. Chaudhuri, NIGC chairman, stated that tribal gaming provides more social benefits for Native Americans than any other driver that is economic. (Image: yogonet.com)

The gaming that is tribal across America recorded its highest ever revenue figures a year ago, according to the National Indian Gaming Commission (NIGC). Its earnings of $29.9 billion represents a five per cent increase in the previous year and its particular growth margin that is best in ten years.

In 2015 there have been 474 gambling operations owned by 283 tribes that are separate the nation. Properties considering the Eastern Seaboard were the revenue generators that are biggest, with the 31 casinos in the region bringing within an average of $225.8 million each.

Gambling enterprises in California and Nevada had been the following performers that are top the 71 properties in the area earned 7.9 billion for the 12 months, and average of $111.3 million each.

Disparity Exists

The NIGC neglects to call specific casinos, preferring alternatively to deal in broad averages, which highlights overall rosy numbers, while perhaps glossing on the great disparity in the casino market that is tribal. A study published earlier this year by the economist Alan Meister, which looked solely at their state of the market in 2014, found that the top two states generated 39 percent of all revenues for the sector, as the top generated 85 percent.

However, Meister acknowledged that the sector in basic was outpacing the sector that is commercial regards to growth. The Indian Gaming industry bounced straight back much more quickly through the Great Recession than its commercial counterpart and has now grown each year since 2009.

' The strong regulation that tribes, along with federal regulators and other stakeholders, provides has played a key part in the stability and growth of the Indian gaming industry by providing consistency and predictability,' said NIGC chairman Jonodev O. Chaudhuri, during a news meeting on the Cabazon Band of Mission Indians' reservation in Indio.

Pioneering Cabazon Band

The setting have been chosen because the Cabazon Band was the tribe that first paved the way for all American that is native Gaming. Its 1987 appropriate challenge against the State of California, which argued that the state could not forbid casino gaming on tribal sovereign lands if gambling were appropriate elsewhere within the state, was upheld by the US Supreme Court. This paved just how for the creation Indian Gaming Regulatory Act, and, through it, tribal casinos.

'Indian gaming is fundamentally different than commercial enterprises; it directly provides resources for Indian people including, social services, public works, education, housing, healthcare, emergency services, public safety and cultural presentation programs that no other economic driver has yet to produce,' said Chaudhuri.

Maryland Live Casino Sues Soon-To-Be Rival MGM National Harbor Over High-Roller Lists

The Maryland Live Casino southwest of downtown Baltimore in Arundel Mills has brought a lawsuit against its soon-to-be neighbor and MGM National that is rival Harbor. The litigation claims that the business behind the $1.2 billion property positioned just 10 miles from the White House obtained its coveted high-roller listings in ill-gotten methods.

The Maryland Live Casino is worried MGM National Harbor (pictured) could ransack its VIPs after it was revealed the new venue obtained confidential high-roller directories. (Image: mgmnationalharbor.com)

Maryland Live contends that MGM pursued and hired three of its employees that are former served as hosts to VIPs. Maryland Live thinks MGM then convinced at least two associated with high-roller hosts to turn over confidential lists despite signing 'No Hire/Non-Compete agreements' during their previous work.

The truth ended up being filed in the United States District Court in Baltimore. Maryland Live is owned by Cordish worldwide Gaming Group.

The lawsuit states that MGM 'aided and abetted' within https://rubetting.club the scheme, and hired the people based on the knowledge of the VIP gambling crowd in the Washington, DC, and Baltimore metro.

'Although it is our normal practice to not comment on pending litigation, this lawsuit amounts to nothing more than an attempt that is thinly disguised stifle the competition Maryland Live expects from MGM's nationwide Harbor,' MGM said in a statement. 'Maryland Live is resorting to threatening its present and former employees with unenforceable non-compete provisions in hopes of preventing folks from working in other states whether or not their employment that is new would with Maryland Live.'

Tale of Two Gambling Enterprises

Once the MGM National Harbor opens in December, the 2 casinos will be located just 40 kilometers apart from one another. Of course, considering the nightmarish traffic in the Baltimore-Washington area, those 40 miles are at times a trip that is all-day.

Regardless, it's too close for comfort for Maryland Live.

First opened in 2012, Maryland Live has essentially had a monopoly on the certain area for the very last four years. The venue is considered the most profitable of the state's five venues that are operational and though it directly competes with the Baltimore Horseshoe, the fight isn't even shut.

Casinos have grossed $581 million through in 2016, and Maryland Live is responsible for a staggering 57 percent of those revenues june.

Irrespective of the Caesars home in downtown Baltimore, the other three casinos are relatively little venues situated in more remote areas compared to Baltimore and Washington, DC.

Maryland Live is rightfully worried about losing a substantial amount of its players, specifically those with deep pockets, to the glitzy and fancy National Harbor.

Doubling Down

Maryland Live cast the very first stone in the future casino war, which isn't stopping here.

As Casino.org reported last month, the casino is investing $200 million into its facility to add a 17-story hotel tower. A complete of 310 guest rooms will be accompanied by way of a new event center, meeting spaces, dining options, and a day spa and salon.

MGM National Harbor will open with 308 hotel rooms.

'Maryland Live Casino is the gaming that is premier entertainment and retail destination serving the heart of the Baltimore/Washington populace,' Cordish Global Gaming Group President Robert Norton said in June. ' The addition of our flagship Live! Hotel is just the investment that is latest we are making to make certain Maryland Live continues to function as preferred choice.'