Casino’s sports betting initiative would put cardrooms out of business, coalition says

A coalition of Southern California cities is opposing a sports betting ballot initiative they claim would fuel excessive litigation against cardrooms, potentially shutting them down, effectively killing 32,000 jobs andThe initiative from Pechanga Resort Casino has no official name but is referred to as the.

If the initiative gains voter approval in November, they say the Los Angeles region stands to lose at least $71.1 million in general-fund tax revenue that supports public health and homelessness services and senior programs.The anti-initiative coalition — including representatives from Commerce, Compton, Hawaiian Gardens and Bell Gardens — held a press conference Thursday, May 19 outside the Commerce Senior Citizens Center to voice their concerns.

Bell Gardens Councilwoman Alejandra Cortez said the Bicycle Hotel & Casino generates about 46%, or $15 million, of the city’s general-fund revenue. If the venue was forced to shut down because of a new ballot initiative and litigation from area casinos, the impact would be catastrophic, she said. in 2019 against The Gardens Casino in Hawaiian Gardens as an example.

“The only cardroom casinos at risk of legal enforcement are those that repeatedly violate California gaming laws,” Fairbanks said.Opponents of the Pechanga initiative still fear a tribal casino monopoly on gaming and increased PAGA litigation might prove too costly to fight and could result in cardroom closures.

Cortez said those are critical funds that help pay for police service, public works and other basic services needed to keep the city up and running.“The Gardens Casino, which has operated in the city of Hawaiian Gardens for the past 22 years, is a critical partner to our entire community – providing more than 68% of our city’s total general fund revenues,” Alvarado said in a statement.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Rand Paul says timing for $48B COVID business bailout is 'inappropriate' due to historic inflationEXCLUSIVE: Sen. Rand Paul is pushing back on a $48 billion COVID relief bill for businesses, which he calls a 'poorly-targeted spending spree' amid historic inflation. Fiscal responsibility?!?! 69tomlet First find the 400 hundred billion they lost the first go around In my opinion there is never a good time to send billions of taxpayers (or printed money) to another country when our house is not in order. There is lack of oversight and our politicians will pad the pockets of defense contractors, themselves and their friends. What a joke.
Source: FoxBusiness - 🏆 458. / 53 Read more »