Thursday, June 16, 2011

Do Casinos and the Lottery really help Louisiana, or for that matter Las Vegas?

Just recently, it was reported that Louisiana casinos win $203 million in May.

So this blogger,  xman20002000, at nola.com, makes a comment in a rebuttal to a previous commenter on this topic,

Suckers... and I guess Las Vegas is a home to suckers... Oh, the Mississippi Gulf is a suckers coast... Be advised gaming is an industry providing a destination for tourist, vacationers, travelers and of course gamblers... So the question is why did Louisiana turn away the gaming industry with the land based casino legislation...

Perhaps the TP could do a report on the health of the industry in Mississippi... Look at the capital improvements and revenue to the state... How much money comes to he City under the arrangement...

Some of you don't get it..
OK, who really doesn't get it?

The Mississippi Gulf Coast is LAST PLACE in almost every category just like Louisiana is. Education, average income, health...all last place. Mississippi is one of the poorest states next to Louisiana.

And did we mention CRIME yet? Look at Louisiana, highest in the nation and New Orleans top ten worst in the world.

After 10-20 or more years of gambling and the MILLIONS of DOLLARS of revenue, what do Louisiana and Mississippi have to show for it as a whole?

And let's take a look at Las Vegas. Why the same thing, CRIME, the highest in the nation. And what do real businesses do when they are surrounded by crime, they LEAVE. Hence, no tax revenue from those businesses that leave, of course.

So while you see Louisiana got 200 million in revenue from gambling, they LOST all the other businesses that used to be in Louisiana, in my opinion, at least 10 or 100 times the amount as in the past as Louisiana is essentially dead last in everything and New Orleans has zero Fortune 500 companies and Louisiana has less than a half dozen small Fortune 1000 companies.

And lets look at all the "capital" infrastructure improvements that all the gambling revenue brings in. Well, all those nice buildings, sidewalks, centers are all offset by a bigger police force, more policing hours.

Oh, let's not forget REHAB.

That's rehabilitation. And if you think buildings and highways cost a lot. What about the gambling addict who turns into an alcoholic and drug addict? Then what about this addict's children? They have be supported by the state with lots of social programs. You think a building or highway costs, wait till you see decades of social services for the children of gambling addicts and substance abuse parents that need to be cared for 24hours, 7days, 365 a year for like 1, 3, 5, 10 or more years.

But what about the JOBS in Las Vegas? Same things like you see in New Orleans. All low income jobs for the tourist and gambling industry. Maids and low paid service industry jobs just like New Orleans.

POKER and BLACK JACK DEALERS
Oh and what about the poker and black jack dealers?

Do you really think they all make as much as you hear? Ask youself, how many people go to a casinos that are not on the Strip? And if they do, how much to they really plan on losing?

If this gambling industry made as much as you hear about, WHY is Las Vegas housing industry virtually all under water, e.g. 80-90% underwater or foreclosure?

THE QUESTION
If the Black Jack and Poker dealers and casino jobs PAID so much in Las Vegas, why can't they make their housing and mortgage payments? It's not like the housing was as bad as say California?

GAMBLING...RECESSION PROOF?
And didn't someone say that gambling is one of those industries that is "recession proof" as in hard time, people spend their time in casinos to increase their chances of winning?  If so, what proof do they have? If gambling was really "recession proof", shouldn't all these dealers be able to make their monthly housing or mortgage payment?  Apparently, someone should call the gambling industries bluff as it's not this recession.

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