Ohioans voted 53% to 47% to approve Issue 3, which is a constitutional amendment to allow legal casino gambling in the state. The group supporting Issue 3 is Penn Gaming and the owner of the Cleveland Cavilers NBA team. The opposition was MTR Gaming which owns casinos in West Virginia and race tracks in Ohio. This constitutional amendment to allow legal gambling has been on the ballot in Ohio five times in the last nineteen years, and was voted down each time. However, the difference this time is that Ohio's economy is in terrible shape and the unemployment rate is one of the highest in the country.
Ohio is surrounded by legal casino gambling in Indiana, Michigan, Pennsylvania and West Virginia. Studies show that $1,000,000,000.00 Ohio gaming dollars are spent out of state each year. Issue 3 backers promised to build four casinos; Cincinnati, Cleveland, Columbus and Toledo, which would create 34,000 new jobs and generate hundreds of millions of new tax revenue each year. They say they could break ground on the casinos by mid 2010 and have them up and running in 2012.
However, the Issue 3 opponents say they are not done fighting and may file lawsuits to try and stop construction of the casinos.
Irish Mike
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> which > would create 34,000 new jobs and generate hundreds of millions of new tax > revenue each year.
Always curious how people come to the conclusion that casinos are great economic engines. Yes, they create jobs, but for the most part are completely parasitic.
On Nov 4, 5:36 pm, "O-PGManager" <ad63...@webnntp.invalid> wrote:
> > which > > would create 34,000 new jobs and generate hundreds of millions of new tax > > revenue each year.
> Always curious how people come to the conclusion that casinos are great > economic engines. Yes, they create jobs, but for the most part are > completely parasitic.
> ------- > looking for a better newsgroup-reader? -www.recgroups.com
In this case the parasite is Penn., and they're sucking out all the money from stupids from Ohio. Kind of like an arms race, where two or more locales have to build bigger and better draws for the stupids from surrounding areas. If you don't participate then the vacuum sucks out ALL the stupid money.
Recently, I was in Erie, Pa and I dropped in on the local 'casino'/ slot parlor. I never seen anything like it before. More slots in one place then any other in the world. I don't know what the odds were, but I don't think they were that good. I'm thinking lottery odds. Any way, it looked like they had emptied out the nursing homes. They were hundreds of junket buses. More blue haired old ladies and walkers and oxegen tanks then I have ever seen. Figured I'd eat in the restuarant, but it was like dining at IKEA, so I took a pass on that. Surely there must be more to old age then that.
> > which > > would create 34,000 new jobs and generate hundreds of millions of new > > tax > > revenue each year.
> Always curious how people come to the conclusion that casinos are great > economic engines. Yes, they create jobs, but for the most part are > completely parasitic.
> ------- > looking for a better newsgroup-reader? -www.recgroups.com
In this case the parasite is Penn., and they're sucking out all the money from stupids from Ohio. Kind of like an arms race, where two or more locales have to build bigger and better draws for the stupids from surrounding areas. If you don't participate then the vacuum sucks out ALL the stupid money.
Recently, I was in Erie, Pa and I dropped in on the local 'casino'/ slot parlor. I never seen anything like it before. More slots in one place then any other in the world. I don't know what the odds were, but I don't think they were that good. I'm thinking lottery odds. Any way, it looked like they had emptied out the nursing homes. They were hundreds of junket buses. More blue haired old ladies and walkers and oxegen tanks then I have ever seen. Figured I'd eat in the restuarant, but it was like dining at IKEA, so I took a pass on that. Surely there must be more to old age then that.
---
The odds in PA slots are brutal, thanks to a 50% tax on slots revenue.
The state legislature is in the provess of moving a table games bill, but the hangup since September is the tax rate. Most of the slots parlors have built excess floor space and can rampup tables pretty fast.
> Recently, I was in Erie, Pa and I dropped in on the local > 'casino'/ slot parlor. I never seen anything like it before. > More slots in one place then any other in the world. I don't > know what the odds were, but I don't think they were that > good. I'm thinking lottery odds. Any way, it looked like > they had emptied out the nursing homes. They were hundreds > of junket buses. More blue haired old ladies and walkers > and oxegen tanks then I have ever seen. Figured I'd eat > in the restuarant, but it was like dining at IKEA, so I > took a pass on that. Surely there must be more to old age > then that.
It's the social setting. The old folks can sit in their rooms and watch day time televisions. They can gather on the patio, in all forms of weather, and talk. Or they can jump on the busses supplied by our local casinos and spend the day with friends; seeing a movie; eating in the Buffets, playing bingo, or sitting the sports lounge and watching the big screens. Discretionary spending is just that.
So when our old aunt in North Las Vegas calls and asks to get together, we meet at the Red Rock or Texas Station and enjoy the day. Sometimes we meet at one of the big malls. It's life in the slow lane.
Jerry (passing) 'n Vegas
- No individual raindrop considers itself responsible for the flood.
O-PGManager wrote: > Always curious how people come to the conclusion that casinos are great > economic engines. Yes, they create jobs, but for the most part are > completely parasitic.
The US as it moves from manufacturing, the entire "service" economy is parasitic.
However, it can be easily argued that movement is wealth. In which case, casinos, salesmen, ad people, customer service representative, fast order cooks, massage therapists, and hookers are indeed creating "wealth".
That economy really is the movement of money and not the creation of things.
It is those that save, hoard, and don't move money, or make money off of money, that are indeed the parasites. That they destroy economy rather than make economy. Then again, there destruction of money by hoarding, is probably useful overall, in that it keeps down inflation.
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