Hartford Business Journal

March 21, 2016

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For more B2B news visit MARCH 21, 2016 Volume 24, Number 16 $3.00 Subscribe online JUNE 9, 2016 Only 11 WEEKS until C T B E x p o . c o m 1 6 T H A N N U A L Bronin eyes surcharge on major property owners, nonprofits By Matt Pilon and Gregory Seay mpilon@HartfordBusiness.com A s Hartford stares down mounting budget deficits over the next few years, Mayor Luke Bronin is weighing how to squeeze more revenue out of commercial property owners and not-for-profits. The strategy may include a limited revival of a decades-long surcharge on commercial prop- erties that expired in 2012, and a payment-in-lieu of taxes (PILOT) program for the city's larger not- for-profit property owners. Both ideas would require state legislative approval and were recently outlined in a bill filed with the Finance, Revenue and Bonding Committee, which is co-chaired by G R E AT E R H A R T F O R D ' S B U S I N E S S N E W S w w w. H a r t f o rd B u s i n e s s . c o m Index ■ Week in Review: PG. 6 ■ Focus: PG. 8 ■ Q&A: PG. 8 ■ The Lists: PGS. 9, 10 ■ Deal Watch: PG. 11 ■ Opinion & Commentary: PG. 20 Changing of the Guard Renowned Hartford brewmaster Ron Page — creator of City Steam's popular Naughty Nurse beer — has retired and turned over the reins to Millennial brewer Sam Pagano. PG. 3 Reversing Course Floyd Manufacturing Co. Inc. has been in recovery mode since going through the recession and Chapter 11 bankruptcy reorganization a decade ago. Find out how President Alfonso Floyd has steered the Cromwell precision auto-parts manufacturer to smoother terrain. PG. 5 By Keith Griffin kgriffin@HartfordBusiness.com W hat's it like to be a high roller in Connecticut? On an early mid- week, March afternoon, it's the entirety of a small, private casino to yourself. You're perched high on the 25th floor of Foxwoods' Grand Pequot Tower playing baccarat in the corner, ignor- ing the windows overlooking the Mashantucket Pequot reservation. Just to enter this space you must have at least a $100,000 credit line with the casino — and actively use it. Inside the high-stakes Stargazer Casino, a dealer stands ready at a blackjack table where the minimum bet is $200 a hand and the maximum is $10,000. She bears a solicitous smile. This relatively small but well-appointed gaming area serves as Foxwoods' financial nerve center. As hundreds play the slots and table games below, it's players in this room that can determine CHASING WHALES CT casinos search worldwide for high-rolling gamblers Continued on page 13 Continued on page 15 Major property owners like Travelers may pay a tax surcharge under a proposed bill. Foxwoods President and CEO Felix Rappaport inside his establishment's high- rollers Stargazer casino, where blackjack betting starts at $200 a hand and rises to $10,000. P H O T O | C O N T R I B U T E D H B J P H O T O | G R E G B O R D O N A R O

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