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July 17, 2007
Northeastern Casino Status Report
The Norwich Bulletin provides a quick guide to the current casino environment here in the northeastern U.S…
Visitors to Foxwoods Resort Casino played $169 million less in its slot machines during the last 12 months than they did the previous year.With both of the big Connecticut casinos expanding, plus the possibility of a new casino being built in southeastern Massachusetts, making any sort of plans that depend on increased gambling revenues to shore up state finances would be a very bad idea right now.Gamblers pumped $9.2 billion into slot machines at Foxwoods during the 2006-07 fiscal year, which ended June 30. It was the second year of declines for the casino and was $685 million below the casino's all-time high of $9.917 billion, which it hit in the 2001-02 fiscal year.
Gary Border, senior vice president of property marketing at Foxwoods, said part of the dip can be attributed to increased competition in the region from facilities in New York and Rhode Island….
Mohegan Sun ended the fiscal year up $166 million from 2005-06, with visitors having played $10.6 billion in its slot machines in the last 12 months….[Mitchell Etess, president and chief officer at Mohegan Sun,] said changes at other such gaming sites at Atlantic City, N.J., have affected visitor numbers, adding pressure on the market from the south…
Both Connecticut casinos will complete massive expansions within the next two years. Clyde Barrow, a University of Massachusetts at Dartmouth professor and gaming industry expert, said gambling traffic also dipped at Twin River in Lincoln, R.I., during its recent expansion but agreed the MGM Grand opening will bring visitors back to Foxwoods.
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Keno machines at T.F. Green. To bring in a miniscule amount of money. That's their latest brilliant concept.
Seventh or fourth highest taxed state. The problem is not revenue, Mr. Speaker. It's the expenditure side.
Posted by: SusanD at July 17, 2007 3:53 PMDear SusanD,
If you believe that to be true, and I'm not saying it isn't, what would you like to cut??
Posted by: Bobby Oliveira at July 17, 2007 6:26 PM~Entitlements
~Pensions
~Get some competition in the state as far as healthcare insurers
~Stop paying the Pelosi's of the state
~Dump the million of dollars of kickbacks the GA hands out every year in the guise of 'grants'
~Get SMART about how we hand out money
Posted by: Greg at July 17, 2007 7:57 PMDear Greg,
While in reality, most of those are non starters, the grant thing alone insures you never get elected again, this should still be a fair process. So, pick one of those that you like.
Posted by: Bobby Oliveira at July 17, 2007 9:11 PMYou have my proxy for all budget cutting initiatives, Greg.
Posted by: SusanD at July 17, 2007 11:25 PMSo Bobby, as I understand your post, the incumbents in this state do not retain power because the people of the state believe in what they do. They retain power because they buy it with taxpayer money.
Is there any greater reason to do away with this process?
Posted by: Greg at July 18, 2007 7:03 AMDear Greg,
You're missing the point but that's ok.
Can't run an engine without sparkplugs. The change you're asking for is too drastic. People don't like the drastic no matter what it is.
Besides, the grant program does a lot of good. As investments go, it's a pretty good turnaround.
Go against stuff people like and you get beat.
Posted by: Bobby Oliveira at July 18, 2007 7:32 AMSo Bobby, are you stating here that the kickback program is a necessary evil for the members of the GA to continue to get elected?
Posted by: Greg at July 18, 2007 7:53 AMlol
Not for the sort of monument Frank Williams has in mind for himself. Not even close.
Posted by: SusanD at July 19, 2007 9:18 PMDear Greg,
I'm saying that folks likes when the State gives them a little assistance to run programs they enjoy. Especially when those programs enhance the public good.
Posted by: Bobby Oliveira at July 20, 2007 9:11 AM