Meetings & Information


Monday, May 11, 2015

....states' gambling way to financial health not a good bet

Fitz's Hits: .... states' gambling way to financial health not a good bet

By Edward Fitzpatrick
Journal Columnist
Posted May 9, 2015

Twin River Management Group is hoping to shut down the Newport Grand slots parlor and build a casino near a stream in Tiverton, and guess what the name of that stream is? Sucker Brook. Apparently, sites adjacent to Chump Creek and The River Sap were unavailable. Now certainly, I understand the importance of gambling revenue to Rhode Island's budget. Lottery transfers to the general fund are expected to total $383 million in fiscal year 2015, up from $376 million last fiscal year. But I wonder about the larger trend that has New England awash in gambling proposals such as a Plainville slots parlor and a casino proposed for New Bedford. Apparently, states are planning to gamble their way to financial health and prosperity. And even from the banks of Sucker Brook, that doesn’t look like the best bet.

No comments: