Let's build some casinos!
Fresh off turning down a state Constitutional Amendment in the recent election to permit the building of a single casino and resort complex in Ohio, a new group has stepped forward to put forth a proposal for not one, but perhaps as many as eleven new casinos in the state. Penn National Gaming (which owns 19 gambling facilities in the US and Canada, including Raceway Park in Toledo), and it's partners have been holding talks with the the governor and state legislature about putting casinos in seven racetracks in the state, as well as building four new stand alone casinos.
Don't get me wrong here, I have no objection to casino gambling in Ohio and have spoken out in favor of it in the past. I simply question the logic of building gambling establishments at a time when disposable income in this country is at almost all-time low. Many restaurants are cutting back staff or closing all together because no one has the money to eat out, and the same is happening with bars.
The auto industry is failing because nobody has the money to buy a car. Housing sales are down in spite of the lowest mortgage rates in my lifetime. Yet in spite of all of this economic doom and gloom, someone believes that we will take the last two nickels that we have left to rub together and put them in a slot machine.
I can't wait to see how the moralists and do-gooders demonize these guys. Children going hungry as the adults gamble the grocery money away. Houses going into foreclosure as their owners sit mesmerized in front of a one-armed bandit. Bankruptcy filed by irresponsible people with too little money and too easy an access to the evils of gambling. Don't look for me to speak out this time though.*
I plan to sit idly on the sidelines this time and watch the fun. This promises to be almost as entertaining, and a good deal less expensive, than a night of Texas Hold'em.
* All promises not to speak out on a given subject are subject to change at any time, as I often have difficulty remaining silent on anything. (ask anybody who knows me...)
5 comments:
Tim,
The "curious" timing notwithstanding, show me the money.
I want to know the State's cut.
The only reason I voted against the last casino deal was that it was a bad deal, not on any kind of "moral" objections.
It has been said that Las Vegas was built on a 7% "profit" margin.
If Ohio can get anywhere near that kind of a deal, I'm all for it.
That said, The one time I was in Vegas I spent $10 of a $50 property scam/deal bribe in the slots and felt guilty doing that, because I know and understand the math.
"Odds are, you'll have fun..."
Odds are that I'll lose and that ain't my idea of fun.
But, for the mathematically challenged, their mileage may vary (but, it probably won't).
If you're looking for a morality angle, first consider:
Legalized Bingo (originally done/allowed on "religious" grounds.)
The State Lottery (originally it was all about the children.)
And driving through a red light (despite vigorous assertions that it's all about making driving safer, it's all about the money.)
HT,
I find the moral arguments against gambling disingenuous at best.
I believe that discussions about the state's cut could go well enough, but you have to get past that little state constitution hurdle first.
As for the profitability of gambling, I am reminded of one of my many trips to the desert (strictly business, of course), when the locals would say:
"Who do you think pays for the light bill in Las Vegas?"
I have to agree with you, Tim...the timing is off even if one thinks Casinos are legit businesses. With little disposable income, you can bet the outcome will simply be a slummier version of our town.
We'll attract visitors, sure...but I don't see how success can be established on people that come here to blow some money and leave. At best, we'll have more employment opportunities in the "service" industry...i.e. more jobs requiring no particular skill.
I personally do not care about casinos from a moral standpoint. I would probably go every so often if they were here in Ohio.
That said, the people here have said they do not want casinos, and that has to be respected at some point.
Ben,
If I have learned anything about the initiative process since I began to take an interest, it is that those with an agenda will ignore the will of the voters until they get a "yes" vote. The rules of the game say that once that's done, we stop asking the question.
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