More about good old Greektown Casino: it pulls in a million a day, and it is sinking like a derelict row boat.
See: http://www.freep.com/article/2…
Casinos are not only no answer, but if there was a right time, it is past and gone.
Want more:
Nevada regulators gear up for casino bankruptcies:
http://www.google.com/hostedne…
They are worried so many casinos are going to go/have gone BOOM that they don’t have the staff and courts to handle it.
Trump entertainment/casinos file for bankruptcy:
http://www.casinogamblingweb.c…
I can list more. The point is, maybe these Greedosaurs would have been profitable in the 1990s – but not now.
HELLO! Anybody home? It is not “Kaching” it is “KaBoom” – the sound of casinos imploding.
Please share widely!
there will be little investment capital available to build one, then.
Brothels next?
Generally, casinos all over the country are earning billions of dollars. That’s not up for debate.
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p>The real question is what do they cost? A partial list:
– socio-economic costs of gambling addiction
– regulatory costs
– police/fire/EMS costs
– infrastructure costs
– affect on the lottery
– revenue losses due to cannibilization
<
p>Grinols/Mustard found that every dollar in revenue comes with 3 dollars in social costs. We should all be asking why casinos don’t seem to be subject to the same cost/benefit analysis as any other public policy issue.
Next they will be asking for some TARP money! I don’t really see any difference between casino gambling and what Wall Street does anyway.