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 vegas, Miss America has very long called Atlantic City’s Boardwalk Hall its home. That will continue 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 last installment regarding the three-year, $12.5 million contract.

Dick Clark Productions was quick to drop the broadcast after 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 Miss America pageant in 2010 and I also respect that,’ Mazzeo told The Press of Atlantic City. ‘However, as this contract comes to an end, we would urge the CRDA leadership to better over utilize the $4 million on endeavors that will bring a better profits on return to Atlantic City.’

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

The skip 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 really a state agency that collects taxes from Atlantic City casinos and is to use the funds to purchase general public and private projects that benefit the town and state.

According to its internet 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 absolutely changed Atlantic City’s domestic, commercial, cultural, and social landscape, while economically supporting quality-of-life improvement efforts.’

How making use of more than $4 million to support Miss America in Atlantic City lives up to that mission has been questioned by some area officials. The 2018 competition telecast on ABC drew just 5.6 million watchers, the number that is lowest in five years.

‘The CRDA has to seriously rethink and prioritize how it spends its money, and it should begin with its subsidy to your Miss America Organization,’ Mazzeo declared in January.

CRDA Funding, Projects

The CRDA has revenue that is several.

Its primary capital stream has historically been a 1.25 % 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 financial obligation.

The CRDA also puts a $5 per night hotel room tax, and $3 each day parking fee. The agency also taxes total hotel stays at nine per cent, alcoholic drinks three percent, and concert tickets nine %.

The CRDA has spent, or as they prefer ‘invested,’ $10.4 million in improvements and renovations of Steel Pier. Which 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 campus that is educational of University, the task would be to open this fall.

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

Pennsylvania casinos generated more than $300 million in gross gaming revenue (GGR) last month, initial time in state history that the threshold was passed.

Slot players waited for machines 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 table that is gross revenue at $79.54 million in March, and slots accounting for $221.35 million. Combined, GGR for the Keystone State’s 12 casinos was $300,516,011.

That quantity easily eclipses last March’s take by four percent. Additionally tops the prior record that is all-time 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 in the property’s 2017 March haul.

Sands Bethlehem had been next at $46.7 million, but that represents a 3.3 per cent year-over-year decrease. Sands Bethlehem is in the process to be sold to a tribe in Alabama for $1.3 billion.

Rivers Casino was third however the biggest portion gain winner. 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 set that is high March 2017.
  • Ohio’s four land-based casinos won $81.7 million last thirty days, and hawaii’s six racinos collected $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 city’s previous best GGR mark.

March was unseasonably warm throughout a lot of the country, but also wet. Casinos additionally benefited from A saturday that is extra in 2018 when compared with 2017.

In Pennsylvania, March was among the snowiest periods of this 2017-18 wintertime, especially in eastern and central 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. In the coming years, they might face competition that is additional the so-called ‘mini-casinos’ begin popping up.

Under the state’s expanded gaming act finalized into legislation last 12 months by Governor Tom Wolf (D), as much as 10 satellite gaming venues can be built, with up to 750 slot machines and 30 table games each.

On Wednesday, the PGCB did not receive any bids for the venues. Five earlier auctions awarded Category 4 satellite licenses, with Penn National Gaming securing two of the 15-mile regional radiuses.

Headquartered in Wyomissing, Pennsylvania, Penn National was against the gaming expansion, but said 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 so as to help bridge a state capital space.

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

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

Wynn Resorts’ biggest shareholder, Elaine Wynn ,wants an immediate shake up associated with the board that once 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 does not have any 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 published 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 process ‘to enable a fully vetted nomination process to occur’ in time for the company’s forthcoming AGM.

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

Steve Wynn Procedures Down

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

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

‘The nominees would be highly respected and, in most cases, have significant public company experience,’ wrote Ms. Wynn. ‘They would have the expertise that is requisite experience to help the business target both its opportunities and challenges. The nominees would help the board adapt to current best practices with regards to variety and would be chosen with a view to licensing that is applicable.’