New York City Area Hype Discussion
Did a quick check but apologies if this already exists, also might be a little premature either way but- given the movem
I can't be the only one who finds this odd. They really didn't know this would be the case before making it this far? Something doesn't smell right to me
Definitely shocking, definitely suspicious. The thing is it could be sooooooo many flavors of bs with so many potential culprits and beneficiaries lol
Really weird. I'm no expert but wouldn't they lose a **** ton of business if they don't have a full fledged casino while there is one near by?
Really weird. I'm no expert but wouldn't they lose a **** ton of business if they don't have a full fledged casino while there is one near by?
Def would lose business but probably not as much as one might guess. How much of a casino rev/profit comes from slots? Tables?
Plus they would avoid a MAJOR capital investment that must be reclaimed.
Def would lose business but probably not as much as one might guess. How much of a casino rev/profit comes from slots? Tables?
Plus they would avoid a MAJOR capital investment that must be reclaimed.
I don’t think they made the documents public yet, but im pretty sure part of the supplemental materials has to include a projected impact on the VLTs if they didn’t get a license
I don’t think they made the documents public yet, but im pretty sure part of the supplemental materials has to include a projected impact on the VLTs if they didn’t get a license
But do you expect they will even file these materials? If they are no longer seeking a license, they are not going to compile and file those.
I feel somewhat vindicated…
I told everyone EC was not serious about offering actual casino games.
These “casinos” aren’t even factoring in break even poker.
Wow thats shocking, now that thats happened its entirely possible under 3 licenses get awarded, none sounds insane but could be possible too lol
I feel somewhat vindicated…
I told everyone EC was not serious about offering actual casino games.
These “casinos” aren’t even factoring in break even poker.
It seems pretty likely that Trump had something to do with them dropping out. He stands to make 110m if they did and now they magically change their minds after years of going after this? Makes no sense without the Trump element IMO
But do you expect they will even file these materials? If they are no longer seeking a license, they are not going to compile and file those.
MGM won’t, but the other proposals are supposed to include the impact on any VLTs in the area.
Most of Resorts Worlds documents are still blocked out, I really wish they would just provide us a planned table and slot break out lol
Ballys new exec summary mentions a poker room though!
Apparently they cited new guidance that indicates the state is only awarding 15 year licenses and not 30, so they won’t be able to achieve their anticipated return on investment. Not good.
Ya this is the “official version” for their reason to drop out.
But if that were true that would be true for all the properties. Unless mgm is just coming out and admitting they’re that poorly run.
Apparently not...from the NYT: "The state law authorizing casino licenses allows for terms of 10 to 30 years, based on the size of the applicant’s investment."
And the rule as proposed in July: "A 10-year license term is proposed for proposed total investments of less than $1.5 billion, consistent with the largest proposed total investment for the largest Title 2 Upstate casino and consistent with the statute’s shortest potential initial license duration. The next tier is a proposed 15-year license duration, for larger proposed total investments of up to $5 billion. The third tier is a proposed 20-year license duration, for even larger proposed total investments of up to $10 billion."
The NYT article says EC was proposing to invest $2.3B vs Ballys' $4B, RW's $5.5B and HR's $8B.
Apparently not...from the NYT: "The state law authorizing casino licenses allows for terms of 10 to 30 years, based on the size of the applicant’s investment."And the rule as proposed in July: "A 10-year license term is proposed for proposed total investments of less than $1.5 billion, consistent with the largest proposed total investment for the largest Title 2 Upstate casino
Shouldn’t EC have known they were in that tier or did the state just move the goal posts on them?
Shouldn’t EC have known they were in that tier or did the state just move the goal posts on them?
I don't think anyone changed anything.
That being said, maybe they were being pressured to invest more, with Bally's willing to do 4bn, and they are calling the bluff
We shall see. I also wouldn't be surprised to see them reverse course, but it's tough to know exactly what is going on behind the scenes
Unclear.
It's page 7 here, dated 8/1.
https://gaming.ny.gov/system/files/docum...
So it's possible the rule is recently finalized. But it also discusses there how even 10- or 15-year licenses are longer than standard.
And why would they think they wouldn't get a renewal after the first 15 years? It *could* happen, sure, but is it actually likely?
Unclear.It's page 7 here, dated 8/1. https://gaming.ny.gov/system/files/docum... So it's possible the rule is recently finalized. But it also discusses there how even 10- or 15-year licenses are longer than standard.And why would they think they wouldn't get a renewal after the first 15 years? It *could* happen, sure, but is it act
Yeah, it wrecks of BS excuse making to cover up the real reason why they backed out
Whatever though, I'm actually happy about it. I live a 5 minute walk to the Stuyvesant Cove stop on the Soundview Ferry that would drop us right there. Pretty amazing for me personally to have Bally's have a chance.
Trump really connected to get them to drop that application huh
And yea im near a ferry too ballys would be the most convenient casino even though it would take years to build
Trump really connected to get them to drop that application huh
And yea im near a ferry too ballys would be the most convenient casino even though it would take years to build
This is the 2nd mention of trumps fault for EC dropping out…
I’m failing to see how trump is at all connected to any of this. Not saying he isn’t to blame just don’t really see why it has anything to do with him.
This is the 2nd mention of trumps fault for EC dropping out…
I’m failing to see how trump is at all connected to any of this. Not saying he isn’t to blame just don’t really see why it has anything to do with him.
The 110ms he gets if ballys obtains a license. So he is very connected with this. Whatever plugs he got to get EC to revoke their application is some behind closed door stuff for sure
Unclear.It's page 7 here, dated 8/1. https://gaming.ny.gov/system/files/docum... So it's possible the rule is recently finalized. But it also discusses there how even 10- or 15-year licenses are longer than standard.And why would they think they wouldn't get a renewal after the first 15 years? It *could* happen, sure, but is it act
This was very informative…
This actually makes sense why EC would drop out. Their entire business model is cutting corners so to be forced to invest into this would literally undermine their entire scheme.
..if the license needs to be renewed (and minimum capital investments necessary) this could/would throw all their financials out of whack.
The 110ms he gets if ballys obtains a license. So he is very connected with this. Whatever plugs he got to get EC to revoke their application is some behind closed door stuff for sure
Wait why does he get 110m is the part I’m confused about where did you see this? Not saying it’s not true just sounds like blaming trump for everything including me losing an all in flip.
Wait why does he get 110m is the part I’m confused about where did you see this? Not saying it’s not true just sounds like blaming trump for everything including me losing an all in flip.
Trump sold the Ballys location lease rights to them for $65MM. There is a clause in the deal that if they get a casino license, they have to pay him another $115MM.
I feel like assuming he pressured MGM is a big stretch. But I also think assuming he's pulling strings for Ballys is a bit of a stretch. But if he's done either, he's sure to tell us all about it before long.
