Atlantic City is ‘far, far from dead.’ That was the takeaway from the two-day East Coast Gaming Conference at Harrah’s Waterfront Conference Center this week, as keynote speaker New Jersey Senate President Jim Sweeney sought to reassure attendees that the city would endure.

Despite the political turmoil and financial disarray that have besieged the resort town in recent months, ‘the best for Atlantic City is in front of us,’ he insisted.

The beachfront city has been on the verge of bankruptcy, but on May 26, the New Jersey legislature passed a bill that will loan AC $75 million, giving it five months to get its finances in order. Failing that, the state could still take over.

A separate bill, passed the same day, will allow casinos to make payments in lieu of taxes, allowing them to budget known payment amounts rather than deal with fluctuating property values. Both bills are now sitting on Governor Chris Christie’s desk, awaiting sign-off.

Casinos Resurgent

Casino revenues have remained steady throughout this period of upheaval, and operating profits for the first quarter are up on last year. Which could be signs that despite its alarming bank balance, the city is ready for a rebound.

He also cited the proposed expansion of gambling beyond Atlantic City and into North Jersey, a motion that would help the city recoup revenue lost to neighboring states like Pennsylvania, which have regulated casino in recent times.

If approved, Atlantic City would receive up to $20 million a year from taxes on the new casinos in the north, as compensation for ending its 40-year monopoly. The issue is due to go to a public vote in November, and remains highly controversial, with strong opinions for and against.

‘When we came up with legislation to expand gaming, it was to ensure Atlantic City would benefit and have the funding to diversify its economy,’ Sweeney said.

Operators Cross Swords Over Northern Expansion

The New Jersey casino expansion issue was a hotly debated issue at https://myfreepokies.com the conference, and Resorts Hotel CEO and President Mark Giannantonio made it clear he did not share Sweeney’s enthusiasm for the idea. He claimed that his company would soon be publishing a study showing that expansion would impact the city severely, and that it could lose three to five more casinos as a result.

New Meadowlands Racetrack CEO Jeff Gural, who has teamed up with the Hard Rock International on a North Jersey casino proposal, called Giannantonio’s assertion ‘crazy.’ He added that Atlantic City operators should be delighted with the compensation package, which would go to city coffers, rather than the casinos directly.

‘To get to your casino, you have to drive through a slum. You need it more than anybody,’ he snapped.

The somewhat abysmal surrounding areas of the casinos in Atlantic City have long been a thorn in the gambling resort’s side.

Trump is estimated to be worth $3 to $10 billion, depending on who’s counting, and the New York businessman has largely self-funded his primary campaign. But now that he’s the presumptive GOP nominee for the 2016 presidential election, his costs are likely to rise exponentially, and he’s no longer averse to taking in donations.

Perhaps the most pivotal Republican financier is Adelson, the Las Vegas Sands owner who is worth some $30 billion.

Adelson has no qualms about opening up his personal vault to fund conservative candidates, either. During the 2012 presidential cycle, Sheldon and his wife Miriam shelled out upwards of $100 million through personal donations and political action committees to GOP runners.

Late last week, Adelson lent his official support to Trump.

Speaking at a World Values Network event in New York City, a Jewish organization whose mission is to promote Jewish culture in politics and media, Adelson reportedly got behind the GOP nominee. According to The New York Times, the casino tycoon said of Trump, ‘I’m a Republican, he’s a Republican. He’s our nominee.’

Little Memory of Little Marco

Adelson has largely remained quiet throughout the primary process, a development that has surprised many in the political arena. Though he isn’t outspoken in the same way Trump has been and has no Twitter account, the 82-year-old lets his money do the talking.

Speculation varies as to why he’s been sitting on the sidelines as the 17 Republican Party candidates duked it out. One theory could that Sheldon preferred Florida Senator Marco Rubio, while Miriam wanted to support Texas Senator Ted Cruz.

Pundits believed Rubio’s apparent willingness to be molded by donors found favorability in Sheldon’s eyes, not to mention the Floridian’s support of Adelson’s RAWA anti-online gambling measure.

Adelson is unequivocal when it comes to a potential president being pro-Israel. The Venetian and Palazzo owner wants his candidate to share in keeping the American ally and Middle East democracy safe.

While Trump danced around the issue at times and said he’d be ‘neutral’ on the Israel and Palestine conflict, Adelson says he now believes the GOP frontrunner would be ‘good for Israel’ should he become president.

A Billion Here and There

With this November’s election shaping up to be Trump versus Democrat Hillary Clinton, the political heavyweights are finally going public with their endorsements. Trump has a long road ahead in uniting the Republican Party, but he’s off to a strong start when it comes to the GOP’s long list of so-called ‘one percenters.’

The Donald has also made plenty of enemies along the way, of course. The Bush family says it will not support Trump, the Koch brothers are staying mum, and Paul Singer has donated to anti-Trump efforts.

But when it comes to the casino industry, the Republican bigwigs are betting on the favorite. In addition to Adelson and Icahn, Steve Wynn will vote Trump.

And love him or hate him, it’s also worth noting that Dan Bilzerian will likely occasionally use his Instagram account over the next seven months to push Trump support. In December, Bilzerian posted, ‘In an age of . . . political correctness, you have to respect the people who remain unfiltered @realDonaldTrump.’

It takes one to know one. Bilzerian has been noted as being somewhat unfiltered himself on an occasion or twenty.

A groundbreaking ceremony on the site of the old Moulin Rouge casino, off the Strip at 900 Bonanza Road in Las Vegas, was held earlier this week, as new developers seeking to transform the stricken remains of the iconic building to its former glory gathered round.

It’s not the first time that the Moulin Rouge has broken new ground, however. While the casino itself was open for just six months, declaring itself bankrupt in November 1955, its brief existence had a lasting impact on civil rights and racial politics in Las Vegas and beyond.

Built by two white businessman, real-estate baron Alexander Bisno and New York restaurateur Louis Rubin, with investment from the great African-American boxer Joe Louis, ‘the Rouge,’ as it was known, was the first-ever racially integrated casino resort.

End of Segregation

Las Vegas, through the 1950s was heavily segregated. Blacks were barred from the casinos on the Strip, unless they were entertainers. Even then, they were treated as second-class citizens.

When Davis, in a moment of rebellion, decided to take a dip in the pool at the New Frontier, the management immediately drained it.

The Rouge flung open its doors exactly 61 years prior to Tuesday’s ceremony. A 60-foot white neon ‘Moulin Rouge’ sign blazed across the top of the building, while inside, it was all wood panels and chandeliers and Toulouse-Lautrec-style murals of French can-can dancers.

Both black and white talent graced the stage during the property’s short life, with only the best of both, from Duke Ellington to George Burns and from Count Basie to Judy Garland.

Fire Damage

A mere six months later, it lay shuttered, but its existence inspired the movement to desegregate the Strip. That came about in 1960, following a meeting between city and state officials, hotel owners, and local black leaders, held fittingly at the Moulin Rouge itself.

There have been various attempts to restore the building over the years, but until now, none have gotten off the ground. The structure has been largely destroyed by various fires, which prompted city officials to declare it a safety hazard and to demolish what remained of the original building in 2010.

The current owner, Moulin Rouge Holdings, will spend $100 million on rebuilding the casino, and said Tuesday that construction could begin within the next few weeks, to be completed in 2019.

‘We are hoping and wishing and praying that this hotel will be the heartbeat of the community,’ said China Hudson, spokesperson for Moulin Rouge Holdings. ‘We want people to come here, feel here, party, have a great time. This won’t just be a casino.’

David Baazov, Chairman, and CEO of Amaya Inc has pleaded not guilty to five counts of securities fraud, according to the Quebec Regulator, Autorité des marchés financiers (AMF).

The AMF filed penal proceedings against Baazov in March following a 15-month investigation into the suspicious trading of Amaya’s stock in the lead-up to the announcement of its $4.9 billion acquisition of PokerStars and other Oldford Group assets.

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Charges against Baazov included ‘aiding with trades while in possession of privileged information, influencing or attempting to influence the market price of the securities of Amaya Inc, and communicating privileged information.’

AMF spokesman Sylvain Theberge said that Baazov, along with his co-accused, had formally submitted their pleas in writing in the past couple of weeks. The case will now be sent to Quebec court for the setting of trial dates and selection of a judge.

Co-Accused Enter Not Guilty Pleas

Baazov stands accused with two other individuals Amaya, Yoel Altman and Benjamin Ahdoot, and three companies, Diocles Capital Inc., Sababa Consulting Inc. and 2374879 Ontario Inc. All parties have pleaded not guilty, said the AMF.

Ahdoot is Amaya’s VP of government projects and a childhood friend of Baazov’s. Together, they formed a tech company in the nineties which got into trouble for failing to pay copying levies for the audio discs it had sold in contravention of copyright law.

Altman, meanwhile, is a chartered accountant who has been described as a ‘long-time strategic adviser,’ to Baazov.

The AMF recently said that the charges relate to incidents have occurred between 2011 and 2016, which means that at least some of the alleged insider trading and stock manipulation predates the Oldford acquisition significantly.

Baazov Faces Five Years

The regulator also announced that 13 more individuals are suspected of enriching themselves while trading in possession of privileged information, or leaking such information. Many of these individuals include members of Baazov’s close circle of business partners, family and friends.

The defendants face fines of $5,000 to $5 million per charge and up to five years in prison if convicted, Theberge said.

Baazov, who had been preparing a bid to take the company private at the time he was formally charged, announced at the end of March that he would be taking paid leave so he could address the case against him.

‘I believe that stepping down in the short term will help to avoid distraction for the company and its management while I vigorously contest all allegations made against me and pursue my bid to acquire the company,’ he said.

Atlantic City Casinos Post Highest Operating Profits Since 2010, But Bottom Line Remains Dicey