MGM Mirage and Chief Executive Officer Terry Lanni told the gathering at the Nevada Development Authority's annual luncheon that,
http://www.lvbusinesspress.com/articles/2007/11/23/news/iq_18027972.txtNevada's economy is in disarray because the tax structure,
which relies heavily on gaming and sales taxes, is broken.
Flip that coin and we find the Adminstration has submitted legislation to allow casinos in Massachusetts to fix the problems created by inadequate tax and spending policies in the Commonwealth.
When I was a teenager my mother used to say to me, "you're a smart girl but you don't have any common sense." She considered common sense a highly desirable virtue. With gray hairs some of us do obtain a measure of common sense. It appears evident that the global and regional competition for casino build-out will reach market saturation. This is a hint that Massachusetts would be better to stay out of the game of implosion and explosion of an industry that is insatiable.
Revel casino in Atlantic City received approval this week to build a 2 Billion dollar enterprise on the Boardwalk as part of the recently launched concerted effort to pull-back the New England market to it's gambling roots in pristine, virtuous Atlantic City.
5 comments:
Thanks for being involved and raising the issues!
The failure of our legislators to adequately educate voters about the mess Romney created with unfunded pensions, unfunded post-retirement benefits & neglected infrastructure repairs while grand-standing for President must be overcome.
It is only poor fiscal management at the state level that makes casinos appear the sexy bailout, just as the desparation in Middleboro made it seem sensible to the leaders who created the fiscal disaster.
Thanks for being involved!
You can hardly blame the state problems on Romney. The Massachusetts liberal, union loving house and senate are the real spenders. Romney spent his years in the state house attempting to cut spending and was fought tooth and nail all the way. Just check the list of budget veto overides. The big dig is another issue, one that I think he could have done something about.
Common sense would tell you that casinos will not fix any problems in this state..it will also tell you that it will not fix any problems in Middleboro. It continues to amaze me that our Govenor really thinks 3+ casinos in Massachusetts will be a good thing...apparently the fact that casinos are losing money, which affects the payout to the host State is lost on our Govenor.
'Romney spent his years in the state house attempting to cut spending ....'
Beg to differ! Willard spent his 'years in the state house' campaigning out of state. If you recall, it was governorship by spokesperson because Willard was in the state so infrequently.
He fought having small employers contribute to health care just as Bain Capital was buying Dunkin' Donuts, the 2nd largest employer in the state that fails to provide healthcare to its full-time employees. (Wal-Mart is the 1st)
That little gem will cost the state $147 million.
Willard refused to work with the legislature on sensible tax policy and much else because he knew he was campaigning for President.
The 'Emergency Budget Cuts' were Willard's grandstanding and pretty disgraceful. I believe they're on MBPC's web site & ~ 30 pages in pdf format.
He proclaimed there to be a mega-billion surplus when Muffy was campaigning that magically disappeared on the day Deval Patrick was elected. Ah! The power of that election to cause billions to disappear!
Yeah, the legislature is problematic, but don't drink the KoolAid.
I am on the committee in Palmer to study the impact of casinos on the town. In two weeks representatives from the casino are coming to make a presentation and answer questions to our committee. We will be given an opportunity to ask questions of the developers. If anyone has questions that they would like answered please contact me at cburns@swcec.org. Thank-you.
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