The Insanity of Expanded Gambling!

From our friends at NoPlainvilleRacino who also offered this:

Plainridge is a money loser: According to The Boston Globe, Plainridge was initially profitable but has become a money loser over the past five years, and needs the extra revenue that slot machines would generate to keep the facility afloat. Plainridge’s investors, namely a Las Vegas slot machine tycoon who owns 31% of the track, have pumped at least $32 million into the track over the past decade - and that may soon hit $35 million. Since then, each year has brought additional losses, with Plainridge’s backers subsidizing the money-losing operation as interest steadily dropped in live horse racing. How can we expect Plainridge to be successful with a highly complex slot operation if they cannot even make money with their current business venture? What has Plainridge's management been doing since the track opened - “We have been here for 14 years watching paint dry. This is getting exciting. This is light speed.” - says Gary Piontkowski, Plainridge Racecourse's President.


Illinois video comments worth seeing:

"Gambling is a JOB KILLER...A recent federal commission study indicated every slot machine [...] eats about $300,000 of LOST consumer spending from the economy, every year."

CHAMPAIGN--Supporters of a legalized gambling expansion bill that passed the Illinois Senate last week aren't celebrating quite yet. Governor Pat Quinn is strongly suggesting he won't sign the bill saying he objects to the lack of regulation measures. ABC Newschannel 15's Liz Lohuis stepped out of the world of politics and into the world of education to dig deeper into the issue of gambling.Gaming Expansion: Job Creator or Job Killer?
Monday, June 4 2012


http://www.wicd15.com/newsroom/top_stories/videos/wicd_vid_5329.shtml