This Halloween, resist the Casino Cannibals and the Slots Zombies they create: There are myriad reasons to Vote YES on Question 3 for the repeal of casino legislation: exploitation of the poor, negative effects on health, community safety, small business survival, and more. I’d like to address casino saturation and its cost to taxpayers and the state. Penn National Gaming President Tim Wilmott told the 2013 Global Gaming Expo, “New England [casino market] is saturated.” When asked about the effect of online gambling on brick-and-mortar casino venues, he answered, “That’s the one thing that keeps me up at night. Right now, what’s going to happen is as clear as mud.” What we do know is that, if all 4 casinos to be licensed in Massachusetts are built, no resident of the commonwealth will live further than 50 miles from at least 1 casino, probably more. Plainville residents will live within 15 miles of Plainridge and Twin River; within 40 miles of the Everett Casino and wherever the southeastern casino is built; and within 50 miles of Newport Grand and the New Bedford ferry to the tribal casino on Martha’s Vineyard, with Mohegan Sun, Foxwoods, and the MGM Casino in Springfield 60-to-80 miles away. There is the possibility of another tribal casino in Taunton, just 20 miles away. We could find ourselves living within 80 miles of 10 casinos! With 4 more casinos planned in New York, the probability of more coming to Maine, and the possible legalization of expanded gambling in New Hampshire, casinos in Massachusetts seem like a worse and worse bet. Despite the fact that casino owners, legislators, and town leaders have assured us there won’t be any fallout from casino over-saturation here in Massachusetts, the facts tell us otherwise: Casino revenues have declined in New Jersey, Illinois, Indiana, Iowa, Pennsylvania, Mississippi, Missouri, Connecticut, Ohio, and Michigan — all due to “casino saturation,” with casinos actually closing in Mississippi, Missouri, New Jersey, and Iowa. Mohegan Sun and Foxwoods have seen their slots revenues decline steadily since 2011, and they are both carrying billions of dollars in debt. The Wall Street Journal, Bloomberg Businessweek, Forbes, and the New York Times have all written extensively about the ill effects of the gambling glut across the country. This year, Moody Investors Service lowered its casino industry rating to negative. The fact of the matter is, new casinos make money because they are sucking revenue from competitors, not because there is more revenue to be had. As a result of the Massachusetts legislature’s passage of casino legislation in 2011, Rhode Island granted Twin River the right to add table games to their slot parlor, and gave them tax breaks, all in preparation for competition with Massachusetts casinos. There is a referendum on the November ballot to allow table games at Newport Grand, in order to compete with a southeastern Massachusetts casino. Plainridge is slotted to be the first casino to open in Massachusetts. What will happen when the other casinos open across the state? What happens if Newport Grand becomes a full-blown casino and entertainment venue? How long will it be before Penn National goes to the legislature, hat-in-hand, to get a bailout, or to be granted the right to have table games, or to expand in ways that were not present in the “small racino” plans that were originally presented to the town ? In Ohio, Penn National Gaming said that the opening of their Hollywood Gaming at the Dayton Raceway racino “may have an adverse impact” on their Hollywood Casino Columbus facility, cannibalizing their own business. Mr. Wilmott said Ohio will be a $2 billion-a-year market by 2019 or 2020, “assuming no added competition from neighboring states.” That’s quite an assumption to make. How does Mr. Wilmot think things will go for Plainridge, with nine other casinos within 80 miles... and counting? In 2013, Delaware bailed out its “racinos” to the tune of 8 million dollars; this year, they kicked in 10 million more! Casino saturation from West Virginia and Maryland was blamed. The now-spectacularly-failed Revel Casino in New Jersey received a deal for $261 million in tax breaks. It closed for good within 2 years of opening, citing, among other things, market saturation. Last year, the 13 gaming facilities in Indiana were given a combined $65 million tax giveback from the legislature, and they’re back this year with their hand out for more. Tribal casinos frequently go to the federal government for grants to keep running. Where does it end? What other business is propped up, promoted, and rescued the way the gambling business has been? In High Stakes, the Rising Cost of Americas Gambling Addiction, author Sam Skolnik writes that the states themselves are becoming addicted to gambling, relying heavily on tax revenues from casinos and lotteries to prop up their budgets. There are now more than 500 commercial and 425 tribal casinos across the country. How much money do citizens have to lose in order to keep their states afloat? And to what lengths will legislatures go to keep the casinos running, even in the face of declining revenue? Casinos are a mistake Massachusetts doesn’t have to make. Please join me in voting YES on Question 3. Mary-Ann Greanier Plainville, MA
Posted on: Sat, 25 Oct 2014 14:40:20 +0000
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