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 staying in Atlantic City for at the least another pageant.

Minus a stint in nevada, Miss America has very long called Atlantic City’s Boardwalk Hall its home. That will continue for the 2019 competition.

Despite a scandal that shook up the corporation in December over derogatory emails sent and received by then-CEO Sam Haskell and two board people regarding previous Miss America champions, the pageant had been approved this week for $4.325 million in state money. The New Jersey Casino Reinvestment Development Authority (CRDA) voted unanimously on Tuesday in favor of honoring the final installment of this 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 obligation that is contractual to skip America pageant in 2010 and I respect that,‘ Mazzeo told The Press of Atlantic City. ‚However, as this contract stops, I would urge the CRDA leadership to better over utilize the $4 million on endeavors that will bring a larger return on investment to Atlantic City.‘

In a brief statement, the CRDA said it was ‚encouraged‘ by the leadership change at Miss America and the 2019 competition’s ‚focus on females’s empowerment.‘ No date has been set for the pageant.

The skip 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 gathers taxes from Atlantic City casinos and is by using the funds to purchase public and private projects that benefit the city and state.

According to its site, the CRDA ‚uses casino reinvestments as a catalyst for meaningful, positive enhancement in the lives of New Jersey residents statewide. In doing so, the CRDA has dramatically and favorably altered Atlantic City’s residential, commercial, cultural, and social landscape, while economically supporting quality-of-life improvement efforts.‘

How utilizing more than $4 million to support Miss America in Atlantic City lives up to that mission was questioned by some certain area officials. The 2018 competition telecast on ABC drew simply 5.6 million audiences, 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 per cent tax on gross gaming at Atlantic City casinos. However, during the city’s bankruptcy, those funds were directed away from the CRDA and alternatively earmarked to help pay down debt.

The CRDA also places a $5 per night hotel room tax, and $3 per day fee that is parking. The agency additionally taxes total hotel remains at nine percent, alcoholic drinks three percent, and concert tickets 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 ferris that is 200-foot wheel.

The Atlantic City Gateway Project has also received a $17 million investment from the CRDA. A residential and academic campus of Stockton University, the task 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 revenue (GGR) last month, 1st amount of time in state history that the threshold is passed.

Slot players waited for devices back 2010 when SugarHouse Casino opened in Philadelphia, but Pennsylvania gambling enterprises never enjoyed a busier monthly than March 2018. (Image: Matt Rourke/Associated Press)

The Pennsylvania Gaming Control Board (PGCB) released final numbers this week that showed gross dining 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 ended up being $300,516,011.

That number easily eclipses last March’s take by four percent. It tops the earlier all-time record monthly high of $296.7 million, that was 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 property’s 2017 March haul.

Sands Bethlehem was next at $46.7 million, but that represents a 3.3 percent year-over-year reduction. Sands Bethlehem is in the act of being sold to a tribe in Alabama for $1.3 billion.

Rivers Casino had been 3rd but 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 highs that are monthly 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 last month, and their state’s six racinos obtained $96.4 million. Both figures are monthly records.
  • Detroit’s three casinos won $138.6 million, significantly more than $3.3 million a lot more than the town’s previous most useful GGR mark.

March was unseasonably warm throughout much of the country, but also damp. Casinos furthermore benefited from a additional saturday in march 2018 when compared with 2017.

In Pennsylvania, March was among the snowiest periods for the 2017-18 wintertime, especially in main 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 gambling enterprises posted gains that are monthly March. Into the coming years, they might face competition that is additional the so-called ‚mini-casinos‘ begin popping up.

Under the state’s expanded gaming work signed into law last 12 months by 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 for the 15-mile regional radiuses.

Headquartered in Wyomissing, Pennsylvania, Penn National was against the gaming expansion, but stated it’s securing the satellite locales in order to protect its Hollywood Casino nearby the Harrisburg state capital in Grantville.

Unwilling to raise taxes, the General that is GOP-controlled Assembly behind gambling to be able to help bridge a state funding gap.

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 a sudden shake up associated with board that when 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 straight away‘ with new blood that doesn’t have 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 business and her previous spouse, she had written to your board demanding it reopen the screen for shareholders to schedule new company and nominate new directors.

In a letter filed to the Securities and Exchange Commission on Tuesday, she recommended a 60-day reinstatement of the nomination procedure ‚to allow a nomination that is fully vetted to happen‘ in time for the company’s forthcoming AGM.

Ms. Wynn said she does perhaps 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 independent of her, the business, and Steve Wynn in order to ‚restore the company’s reputation,‘ she added.

Steve Wynn Steps Down

I genuinely believe that the company’s governance structure requires become reformed and that the board of directors needs to be reconstituted,‘ she wrote. ‚This must certanly be done instantly and definitely before any product decisions are made that could affect the long-lasting interests of this shareholders.‘

Ms. Wynn became Wynn Resort’s shareholder that is largest, with 9.25 percent, after her ex-husband sold their equity in the organization last month to safeguard its gaming licenses from an escalating intimate misconduct scandal. Lawsuits from disgruntled shareholders have been mounting, claiming the board must have known about its chairman that is former and’s alleged behavior but failed in its responsibility to protect the company.

‚The nominees would be highly respected and, in many cases, have actually significant public company experience,‘ wrote Ms. Wynn. ‚They would have the expertise that is requisite experience to help the company address both its possibilities and challenges. The nominees would help the board conform to current recommendations with regards to variety and would be selected with a view to applicable licensing requirements.‘