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 1xsport Vegas, Miss America has very long called Atlantic City’s Boardwalk Hall its home. That will carry on 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 following the scandal emerged, and NJ Assemblyman Vince Mazzeo (D-Atlantic) called on the CRDA to annul the funds.

‘we understand the CRDA had to fulfill its contractual obligation to the skip America pageant this year and I respect that,’ Mazzeo told The Press of Atlantic City. ‘However, as this contract finishes, 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.’

The CRDA stated it had been ‘encouraged’ by the leadership change at skip America and also the 2019 competition’s ‘focus on ladies’ empowerment. in a brief statement’ No date has been set for the pageant.

The Miss America Organization board has been overhauled. Seven of the 10 members are now women, with former Fox News commentator and host 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 to use the funds to invest in general public and private projects that benefit the city and state.

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

How utilizing more than $4 million to support Miss America in Atlantic City lives up to that mission has been questioned by some certain area officials. The 2018 competition telecast on ABC drew just 5.6 million people, the number that is lowest 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 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 rather earmarked to help pay down debt.

The CRDA also places a $5 per night hotel room tax, and $3 each day parking fee. The agency additionally taxes hotel that is total at nine percent, 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 includes $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 always to open this fall.

Pennsylvania Casinos Set Monthly Record, Join Maryland, Ohio, and Michigan in Posting New Highs

Pennsylvania gambling enterprises generated more than $300 million in gross gaming income (GGR) last month, the very first amount of time in state history that the threshold happens to be passed.

Slot players waited for devices back in 2010 when 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 table that is gross income at $79.54 million in March, and slots accounting for $221.35 million. Combined, GGR for the Keystone State’s 12 casinos ended up being $300,516,011.

That number easily eclipses last March’s take by four percent. Additionally tops the prior all-time record monthly most of $296.7 million, which was set in March 2013.

Parx Casino north of Philadelphia led the way with $54.6 million in March revenue, a 10 percent premium in 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 in the act to be offered to a tribe in Alabama for $1.3 billion.

Rivers Casino had been 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 set that is high March 2017.
  • Ohio’s four land-based casinos won $81.7 million month that is last and hawaii’s six racinos gathered $96.4 million. Both figures are monthly records.
  • Detroit’s three casinos won $138.6 million, a lot more than $3.3 million more than the town’s previous most useful GGR mark.

March was unseasonably warm throughout much of the national country, but also wet. Casinos furthermore benefited from a additional saturday in march 2018 in comparison to 2017.

In Pennsylvania, March was among the snowiest periods regarding the 2017-18 wintertime, especially in eastern and central portions of the state. But temperatures that are warm the times 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 might face additional competition whenever the so-called ‘mini-casinos’ begin popping up.

Under the state’s expanded gaming act signed into law year that is last Governor Tom Wolf (D), as much as 10 satellite video 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 of the 15-mile radiuses that are regional.

Headquartered in Wyomissing, Pennsylvania, Penn National was against the gaming expansion, but stated it’s securing the satellite locales so that you can protect its Hollywood Casino near the Harrisburg state capital in Grantville.

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

Along with the mini-casinos, the legislation authorizes internet gambling and day-to-day fantasy sports, air port gaming lounges, slot machines inside certain truck stops, and creates a regulatory framework for sports gambling.

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

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

Elaine Wynn says she believes the Wynn Resorts board requires 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 legal struggle with the company and her previous spouse, she had written to the 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 process ‘to enable a fully vetted nomination process to occur’ in time for the company’s forthcoming AGM.

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

Steve Wynn Procedures Down

I genuinely believe that the business’s governance structure requires become reformed and that the board of directors needs to be reconstituted,’ she composed. ‘This must certanly be done straight away and certainly before any material choices are made that could affect the long-lasting interests associated with the shareholders.’

Ms. Wynn became Wynn Resort’s largest shareholder, with 9.25 percent, after her ex-husband sold their equity in the company final month to safeguard its gaming licenses from an escalating sexual misconduct scandal. Lawsuits from disgruntled investors have been mounting, claiming the board must have understood about its chairman that is former and’s so-called behavior but failed in its duty to protect the company.

‘The nominees could be highly respected and, generally in most cases, have significant public company experience,’ wrote Ms. Wynn. ‘They might have the necessity expertise and experience to help the company target both its possibilities and challenges. The nominees would help the board conform to current guidelines with respect to variety and would be selected with a view to applicable licensing requirements.’