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Bankruptcies,
Bailouts and Busts: Casinos are Failing, Not Booming
It's
all over the news: casinos are
defaulting on their debts and the casino gaming industry, as everyone knew it,
is crumbling. Calling
it "a worrisome trend", Moody's Investor Services recently revised its outlook
for the U.S. gaming industry from "stable" to "negative" citing a "weaker demand
. . . and oversupply of casinos".
Taxpayer-funded
bailouts
-- hundreds of millions of dollars so far -- have already been approved by
several states in an attempt to prevent bankruptcies, closings or layoffs. As you've seen, that doesn't always
work. Keep in mind that these are the
same casinos that promised tons of money to the states and municipalities, but
are now seeking money from taxpayers in order to stay afloat.
Just recently, the
potential buyer for the failing Trump Taj Mahal casino in Atlantic City demanded
a $25 million dollar taxpayer bailout. Then he demanded a yearly tax break. Then he demanded that casino employees
forfeit their pensions and their health insurance. Are casino owners really the ones we want
controlling our economy and our lives here in
Massachusetts?
Is whatever you believe might be gained from
casinos,
worth everything that you will
lose?
On
November 4th, Vote YES to Repeal the Casino Law
Vote YES on
#3
Vote
YES to STOP the Casino Mess
WANT TO
HELP?
3 Ways You Can:
1) Please share/post these messages widely: https://www.facebook.com/profile.php?id=100005253047911
We Can't Win Without
YOU!
Find the full list of reasons to Vote
YES on 3 here:
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