We told you so!
It's over! .... for Middleboro
It gives me great pleasure today to thank all the dedicated members and friends of Casino Facts who have been fighting and supporting us to maintain the quality of life that we so well deserve. For almost three years we have been trying to drive a message home that a Casino in Middleboro was "not inevitable". Many will say it was the SCOTUS decition to not allow land to trust, or the high cost of the infrastructure, or the environmental impacts, or one of the many other road blocks that put an end to the Tribe's ill-fated plan, but in my heart I truly believe it was the culmination of dedicated research, and the tireless effort to educate and help people understand the logic and the basic principle that there is no price tag for an exchange of "quality of life". Today is not only a victory for Middleboro, but for the area as a whole, but the war is far from over, for now is the time to fight for the rest of the residents of Ma. and help them understand the dark and hidden secrets of predatory gambling.
Thank you,
Frank Dunphy
President Casino Facts Committee
Devalue's Casino by the Numbers
Talk about fuzzy math.
In looking over Gov. Devalue's casino numbers from today's
Boston Globe, you would think he needs some remedial education.
"Patrick estimates that three casinos would produce $2 billion in economic activity,"
Yes, 2 billion sounds about the amount of money the 3 casinos will take away from
other economic activity in the state. A net sum of... ZERO.
Of course, you will be
adding (hack) jobs at the new gaming commission and therapists and couselors at the
new gambling treatment centers. That is economic activity, isn't it?
"including $400 million a year for state coffers"
but wait...
"agree to pay at least 27 percent of their gross annual revenues to the state, or
$100 million a year, whichever is larger"
If I was the CFO at any of these new casinos, I would make sure our net profit came
awefully close to $100 million every year. Extra bonuses for all investors!!!
Let's see with some creative casino accounting methods, 3 casinos times $100 million
per year... = $300 million.
Is that right? Where is the $400 million? Did Devalue
lose $100 million? Of course he is betting on the 27% giving more than $100 million
each... on a good year, not indexed for inflation or the well running dry from
casinos opening up in New Hampshire or from all those poor & middle class people
exhausting their entire assets. How about a tribal casino sucking the life out of
all the others with nothing going to the state? Oh... what major airline is going
to fly into Worcester to bring tourists wanting to gamble in Palmer? Must I go on?
Bidding by casino developers for the three 10-year licenses would produce a combined
$600 million to $900 million for the state, according to Patrick's projections.
and...
"Prospective bidders would be required to pay $350,000 to have their casino license
applications reviewed. In addition, for their application even to be considered,
bidders would have to offer the state a minimum licensing fee of $200 million..."
More math. 3 times $350,000 = $1.05 million plus 3 times $200 million = $601.05
million over 10 years. How does he get up "to" $900 million? Maybe he is talking
$900 million over 10 years or $90 million per year. Is that included in the $400
million?
Just a mathematical analysis.
Carl Peirce
Lakeville
CasinoFacts.org
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