Casino arms race

[mindstalk.livejournal.com]

Article that I thought might be relevant, given the Everett thing. Seems likely that there's only so much gambling money to go around, and it's being divided up more and more. Hope the state doesn't end up having to bail out the new projects, which would seem to defeat the whole point.

http://www.newyorker.com/business/currency/americas-casino-saturation-problem

Comments

[achinhibitor.livejournal.com]

Fortunately, the state has no commitment to bail them out. Of course, there will be political pressure to "save the jobs" (especially if they're unionized). But the bail-out will most likely be to reduce the compensation they have to pay to the state. The ugly case will be if they're slated to pay off infrastructure improvements but then don't have the income to do so. The state will be out that money.