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GAMBLING TO HELP FIGHT NEW YORK'S DEFICIT?

Tuesday December 6,2011 : Tax changes, public -private partnerships and legalised gambling part of governor's plan
 
New York governor Andrew Cuomo wants to overhaul the tax system, use public-private partnerships to repair the state’s infrastructure, and legalise gambling as part of a wide-reaching jobs creation plan, according to an opinion editorial piece that his office despatched to media outlets over the weekend.
 
The Bloomberg news group reported that the governor is seeking bi-partisan support for his plan to address a $350 million deficit in the current fiscal year and as much as $3.5 billion in fiscal 2012, which starts April 1.
 
The plan will be discussed Tuesday and Wednesday in special Republican and Democrat meetings of the state's politicians. The Legislature had not been scheduled to reconvene until January.
 
In the opinion piece, Cuomo called for establishing a state infrastructure fund to finance the repair and development of highways, bridges and major construction projects… without specifying the amount of money involved.
 
“I will be reaching out to Democratic and Republican officials in a spirit of cooperation and compromise so that together we can enact a real economic program that creates jobs,” Cuomo wrote.
 
Cuomo described revenue as “collapsing” during a press conference in Albany last week as taxes collected on Wall Street wages and bonuses decline.
 
The governor, who took office in January 2011, has cut spending and won concessions from labour unions. He is now seeking a stimulus package that would increase spending on road and bridge construction; finance new programs to train poor urban youths; and legalise resort-style casino gambling to raise tax revenues.
 
“Our goal in New York should be twofold: to fashion a job-creating economic plan, and to defy political gridlock like we see in Washington and make government work to actually implement the plan,” Cuomo wrote.
 
However, observers have pointed out that some of the changes will take time to implement: legalising full-scale commercial casinos would require amending the state’s Constitution, for example - a process that would require approval from two consecutive Legislatures and then a voter referendum.

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Gambling News :

Is Gibraltar Out of Luck in US Tax Challenge - Gibraltar's challenge to the UK 15 percent point-of-consumption tax on online gambling operator revenues has already failed in the UK High Court, and it looks as if it may be rejected by the European Court of Justice too.

Quickspin are now available in Denmark - #quickspin The roll-out strengthens the long-standing partnership between the supplier and the operator, with Quickspin games already available on Vera&John’s websites around the world.

UCypher Launches - Indian entertainment and media entrepreneur Ronnie Screwvala has announced the formation of UCypher, an eSports tournament in which ten teams will compete.

Extreme Live Gaming In deal With Betsson - Extreme Live Gaming, a subsidiary of the Novomatic Interactive group, has announced a live dealer product deal with the Betsson online gambling group, with an initial launch planned for Betsson.com, followed by other brands in the Swedish group's portfolio.

Expansion Mode For BoyleSports - The Bambury premises are situated in Kildare, Meath and Dublin and will be refurbished and rebranded after acquisition, with the total of 31 staff remaining in employment..

Safecharge Q4-2016 - Online e-cash processing firm Safecharge, where Playtech's Teddy Sagi is a majority shareholder, released a trading update on its Q4-2016 performance Thursday, flagging record transaction processing volumes and revenues.

ASA Most Controversial Ads of 2016 - Paddy Power's penchant for advertisements that cause a stir saw the betting company mentioned twice in the Top Ten most controversial adverts of 2016 released by the Advertising Standards Authority in the UK Thursday.

Yggdrasi To Enter Italian Gambling Market - Yggdrasil’s Italian offering will include the company's collection of in-game promotional tools, BOOST, improving gamification, and the social sharing tool, BRAG. The company’s mobile product will also be available on its HTML5 iSense 2 platform.

888sport is the latest to join sports betting integrity body ESSA - Major operator 888sport is the latest to join sports betting integrity body ESSA with the company adding its customer base and betting market platforms to ESSA’s global anti-fraud alert and reporting system.

First partypoker live event to be held in Russia - Partypoker’s new live tour will kick off in Russia on March 24, 2017 at Sochi Casino and Resort in association with Club Poker Management. Online Day 1’s will start on partypoker on March 12, 2017.

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