Casino gambling still a poor bet for Atlanta, Georgia

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It’s amazing how flexible moral principles can become once Big Money begins to wield its influence. Case in point: The debate over casino gambling in Georgia.

For years, the idea of casino gambling has been a complete non-starter in this state. Georgia leaders seemed to understand that any additional jobs and government revenue promised by the casino industry would not offset its impact on families, businesses and lives, and that the economic benefits of such projects are almost always grossly exaggerated.

However, once MGM Resorts International began talking up a $1 billion casino in downtown Atlanta, and once their lobbyists began visiting the right offices, the tone of the conversation changed. From Gov. Nathan Deal, House Speaker David Ralston and Atlanta Mayor Kasim Reed on down, minds previously closed to the idea of casino gambling have suddenly begun to pry open.

But let’s take a look purely at the economics:

— Most of the jobs generated by casino gambling are low-paying service-industry jobs — waiters, dealers, security personnel, etc.. It’s the type of “growth” that generates more despair than prosperity. Biloxi, Miss., for example, is home to MGM’s giant Beau Rivage Resort and Casino. But according to U.S. Census data, family income and poverty levels in Biloxi are no better than and in some cases worse than in Mississippi as a whole.

— The casino market is largely saturated, with additional casinos basically cannibalizing customers and revenue from existing facilities. That’s in part why metro Atlanta — still virgin territory for legalized gambling — is so attractive to the industry. But it also means that gambling isn’t the national tourist draw that it might have been 20 years ago.

— Those drawn to gamble at regional casinos, outside the high-end gaming palaces of Las Vegas, are typically less affluent Americans. James Bond isn’t gambling there, Grandma Betsy is, and she probably arrived by bus.

— Like Grandma Betsy, those customers are also considerably older and on fixed incomes, and they are shrinking rather than increasing in number. Sitting down and pulling the handle on a slot machine isn’t much of an attraction for later generations raised on highly sophisticated, interactive video games and mobile devices.

— Instead of being a magnet to development, as other industries can be, the presence of casinos discourages other businesses from locating nearby. That’s in part because modern casinos are designed with their own retail shops, restaurants, bars and other amenities to capture every dollar possible and prevent leakage. In addition, non-gaming companies aren’t going to want to locate their national headquarters or other office space next door to a casino. It is a disincentive to growth.

— The overall economics of the gaming industry are dependent on larger trends that aren’t promising. “Our revenue and cash flow forecast incorporates our view that consumers, who remain under pressure from weak growth in disposable personal income, will continue to limit their spending to items that are more essential than gaming,” Moody‘s Senior Vice President Keith Foley said last month in a somber assessment of the gaming industry’s future.

In short, it remains a bad bet.

Reader Comments 0

1058 comments
SFM_Scootter
SFM_Scootter

" PS: a TV won`t fit on the MARTA train now days"


Skydog


Please tell me you ain't saying this from a voice of experience.  LOL

skydog12
skydog12

@SFM_Scootter


No, I am an Engineer who knows how to read a tape measure. It`s hard to get an 84" in the house, much less a train door.

_GodlessHeathen_
_GodlessHeathen_

@skydog12 @SFM_Scootter 

OK dog.  A riddle for you to work out.

Little boy rides bus to town and buys a 6 foot fishing pole.

When he tries to get on the bus to go home, the driver tells him items over 5 feet not allowed on bus.

Little boy goes back to store to return his fishing pole and tells clerk why.

Clerk gives him something that allows the boy to ride the bus home with his 6 foot fishing pole.

What did the clerk give him?

skydog12
skydog12

Maybe the best example of the Cons voting against their best interest is up here in Cobb County.


There are 3 ways to get to the airport besides driving.


You can take a taxi. About $110, but when you get out the floor mat will stick to your foot. Hopefully it`s just a milk dud causing this.


You can drive to a CCT bus location. Get on the CCT down to a MARTA station and ride MARTA to the airport. Travel time for all these legs is about 3 hours.


Or you can take Uber. About $50 and they will get you their in under 45 minutes. (1 hour and 10 minutes in traffic)


Cobbites were told 20 years ago that if they allowed a Marta rail to extend into Cobb, the thugs would come up from the city and steal their TVs and take them back to the city on MARTA.


They fell for the BS.


Thank you Cobb politicians and bigots. I am making a killing from your knuckle dragging policies.


PS: a TV won`t fit on the MARTA train now days.

fedup52
fedup52

BTW, you never answered my question about your degree.  What would that be again?

++++

53%

I will not divulge the extent of my education.

LeninTime
LeninTime

One more word on gaming: Isn't contemporary capitalism itself essentially a giant casino? 

If Atlanta wants to enshrine that system within its city limits, maybe it makes perfect sense.

LogicalDude
LogicalDude

@LeninTime "Technically" investors should do due diligence on their investments in order to ensure proper returns.  

However, institutional investors carry a lot more sway on stock prices, so things fluctuate wildly as these speculators throw money back and forth with each other. 

KUTGF
KUTGF

According to an emergency motion filed by John’s attorney on Wednesday, the state of Texas has not complied with court orders “by refusing John’s request that the State amend the death certificate of his late husband James to reflect that John is his surviving spouse.” Even in John’s moment of great sorrow, Texas continues to wage a war against marriage equality — despite a decision by the Supreme Court of the United States commanding them to lay down their arms. 

http://thinkprogress.org/justice/2015/08/06/3688308/texass-gratuitously-cruel-attack-on-a-dying-gay-man/

____________________Another sad day in conservative RW hatred and history thanks to the State of Texas. 

KUTGF
KUTGF

@SimpleTruths You mean Trump the accused rapist?  Is that because it takes one to know one?

KUTGF
KUTGF

@SimpleTruths  You mean to tell us that Trump has not been accused of rape? 

InTheMiddle2
InTheMiddle2

@KUTGF @SimpleTruths It was an accusation his soon to be ex-wife made in the middle of a nasty divorce. You can decide for yourself how reliable it is.

SimpleTruths
SimpleTruths

Oh joy!  This time, the system let me log in.

LogicalDude
LogicalDude

I'll bet y'all 5 bucks that casino gambling will stay illegal. 

THEFEEBLELIBERAL
THEFEEBLELIBERAL

 the feeble little liberal mind


it can't even prove where they get the 97%

like the lion in the wizard of oz, they are too cowardly to link/post where they get their 97% claim

lol

they are off to see the wizard

Visual_Cortex
Visual_Cortex

[If I may add this entry to what one might call the Soap Opera Digest...]

So 25 minutes or so ago, our 53%er was all like this, to our Doggone:


you're an annoying troll with little of substance to add to this blog.


Anyone else just love watching a guy who does his very best to attract attention posting inflammatory right wing messages in a left-leaning columnist's comments, and has done so with some regularity, one might say week-daily, even, for--what's it been now, if you go back to the "RB from Gwinnett" days, eight years? more?--calling a generally polite, slow to anger, well-liked regular here a "troll." 

Visual_Cortex
Visual_Cortex

@fiftythreepercenter @Visual_Cortex

Proof that you've been trying to get Jay and others to notice you with some regularity for a very long time?

Are you actually denying that this is so?

Or are you denying that our Doggone is pretty easygoing and well liked by at least a few on the right-leaning side? (She and our Doomy were swapping waterfall tales last night...)

Can ya say that about yourself, and any of the left-leaners here? 

Heck, I believe you and I are about the closest pairing on that score. Although LT can be nice to everyone, so he might have me beat on the warmth-and-cuddliness scale.

fedup52
fedup52

Opposition politicians are calling for a full inquiry into why the justice minister and the interior minister let the journalists be investigated for treason in the first place.

And Mr Meister and Mr Beckedahl are demanding answers over whether they have been spied on by the authorities.

"For us, as journalists, who believe in the rule of law, it feels like we've landed in a nightmare, in a repressive state, in which it's possible to spy on investigative journalists," Mr Beckedahl told German television station ARD.

http://www.bbc.com/news/world-europe-33784479

+++++

The Germans take their Freedom of speech very seriously.

straker
straker

53% - "if the moderator will be allowed to ask Hillary any questions"


If, and when, you ever get out of high school, please don't plan a career in comedy.

THEFEEBLELIBERAL
THEFEEBLELIBERAL

the feeble little liberal mind


notice how for years they have used the polar bear to PROVE the pending catastrophe of climate change.............then a liberal rag prints an article arguing that the PB's are ok


what does the feeble little liberal mind do


it then claims


oh it was never about the polar bears


lol


slip & dip 

shuck & jive

the rope-a-dope