Bankruptcies, Bailouts and Busts: Casinos are Failing, Not Booming

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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

         2) Volunteer:  http://www.repealthecasinodeal.org/how-to-help

         3) Donate:  http://www.repealthecasinodeal.org/donate 

 

 

We Can't Win Without YOU!

 

 

Find the full list of reasons to Vote YES on 3 here:

http://massvoteyeson3.blogspot.com/

 

Need help convincing a friend about casinos?

****Please share widely****

The following animated video will turn any reasonable casino supporter into a casino opponent in just minutes.  It's both informative and entertaining, and I have seen no other ad or explanation that so clearly defines the harm casinos will bring to Massachusetts residents.

Please take a few minutes to view it.  And most importantly, share it with your unconvinced friends. 

We won't convince everyone, but we know that most voters want to do the right thing.  After viewing this, more people will have a clearer understanding of why the right thing to do, is to Vote YES on Question 3 to repeal the casino law.

 

 

 

Addiction by Design, Not by Chance

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Addiction by Design, Not by Chance

These aren't your parents' slot machines.  In olden days, slot machines were known as "one-armed bandits".  Gamblers inserted coins and pulled levers a few times a minute as the internal wheels spun to their stop. 

 

Today's slot machines are far more sinister.  Using deliberately designed sights, sounds and patterns, today's slots are designed to hypnotize gamblers into a trance-like state.  Taking credit cards instead of coins, today's "bandits" allow gamblers to place as many as 1,200 bets per hour.  Occasional small payouts are cleverly engineered into the programs to create the false illusion that a gambler's luck is changing.  It has been reported that as much as 85% of the casino industry's profits come from gamblers playing these machines.  Addiction to slots is such a major social problem, that some states force casinos to participate in "mitigation programs" in an effort to minimize the number of addicted patrons. 

 

Ask yourself:  How do casinos "mitigate" addiction when their entire business model is dependent upon their ability to successfully create it? 

 

 

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

         2) Volunteer:  http://www.repealthecasinodeal.org/how-to-help

         3) Donate:  http://www.repealthecasinodeal.org/donate 

 

 

We Can't Win Without YOU!

 

If You Own a Business, You Should Be Very Concerned

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If You Own a Business, You Should Be Very Concerned 

Every dollar that gets spent at the casinos, will be one less dollar that will be spent at local businesses.  Over a billion dollars a year in consumer spending will be diverted to the casinos and that giant sucking noise will be the sound of money leaving your cash register and going into the casino owners' pockets.  Most Massachusetts cities and towns will lose millions of dollars a year in local spending.  How much of that money is currently being spent in your business?  What happens when it no longer is?

 

Want to see how much current retail spending will flow out of your hometown and into the casinos?  Click on these links to view:

 

Western Counties:

http://massvoteyeson3.blogspot.com/2014/10/new-casino-gambling-losses-per.html

 

Central and Northern Counties:

http://massvoteyeson3.blogspot.com/2014/10/new-casino-gambling-losses-per-city-or.html

 

Southern, Cape and Island Counties:

http://massvoteyeson3.blogspot.com/2014/10/new-casino-gambling-losses-per_4.html

 

 

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

         2) Volunteer:  http://www.repealthecasinodeal.org/how-to-help

         3) Donate:  http://www.repealthecasinodeal.org/donate 

 

 

We Can't Win Without YOU!

 

Tourist-Dependent Areas and Businesses Will Get Hurt

[Note:  YOU are our advertising campaign.  Unlike casinos, we don't have millions of dollars to advertise.  YOU are the only way this message reaches other voters.  Please share and post widely. ]

 

Tourist-Dependent Areas and Businesses Will Get Hurt

Tourism is discretionary spending.  So are casinos.  What happens to tourist destinations when millions of dollars currently spent by Massachusetts residents during local daytrips is, instead, diverted to the casinos?  Casinos won't just draw money away from the residents who live in tourist-dependent areas, they will also divert daytrippers whose spending is critically important to those areas.  Does that mean everyone will choose gambling over tourism?  No, but it doesn't require the loss of every tourist dollar to cause a meaningful loss of income and jobs.

 

 

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

         2) Volunteer:  http://www.repealthecasinodeal.org/how-to-help

         3) Donate:  http://www.repealthecasinodeal.org/donate 

 

 

We Can't Win Without YOU!

 

The Two Questions Casinos Don't Want You to Ask

[Note:  YOU are our advertising campaign.  Unlike casinos, we don't have millions of dollars to advertise.  YOU are the only way this message reaches other voters.  Please share and post widely. ]

 

The Two Questions Casinos Don't Want You to Ask:

The casinos are projected to siphon an additional $1 billion dollars out of the Massachusetts economy every year.  This isn't money that is currently being gambled by residents.  It's money that residents are currently spending at nearby businesses.  That $1 billion dollars is the equivalent of an additional 1,000,000 Massachusetts gamblers losing $1,000 a year to the new casinos.  That's roughly 1 in 5 Massachusetts adults who will stop spending that money elsewhere, and start spending it at the casinos. 

Now ask yourself these two questions: 

1.  Where is that $1 billion dollars a year being spent now? 

2.  What happens to those businesses and their employees, once it no longer is?

 

 

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

         2) Volunteer:  http://www.repealthecasinodeal.org/how-to-help

         3) Donate:  http://www.repealthecasinodeal.org/donate 

 

 

We Can't Win Without YOU!

 

The Days of the Destination Casino are Long Gone

[Note:  YOU are our advertising campaign.  Unlike casinos, we don't have millions of dollars to advertise.  YOU are the only way this message reaches other voters.  Please share and post widely. ]

 

 

The Days of the Destination Casino are Long Gone:

Atlantic City's collapse is irrefutable proof that the days of the destination casino are over.  Years ago, gamblers would travel hundreds -- even thousands -- of miles to gamble, bringing distant dollars to the casinos -- dollars that wouldn't, otherwise, be spent in those markets.  Those distant dollars made Las Vegas, Atlantic City (and even Foxwoods and Mohegan Sun) great successes in their heyday.  But things have changed.  The New York Times, The Wall Street Journal and numerous others have recently come to the same conclusion:  the market for casinos in the Northeast is saturated.  Today, most gamblers live within 50 miles of the casinos.  Instead of bringing new dollars into the market, casinos now just suck dollars OUT of the local market, stealing revenue and profits away from local businesses and depositing it into their own coffers.  The problem is, as those local businesses suffer, so do their employees

 

 

 

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

         2) Volunteer:  http://www.repealthecasinodeal.org/how-to-help

         3) Donate:  http://www.repealthecasinodeal.org/donate 

 

 

We Can't Win Without YOU!