Posted on 06/26/2014 10:58:36 AM PDT by beaversmom
Senate lawmakers on Wednesday approved a $10 million financial bailout for Delaware’s three gambling casinos.
The Senate voted 14-5 to pass legislation to help the casinos, which say they are struggling with increased competition from neighboring states and have to share too much of their gambling revenue with the state.
[...]
The change would take effect in July 2015, at an estimated cost to the state of about $10 million annually.
To help the casinos until then, lawmakers cobbled together a similar amount of taxpayer money, mostly from unspent funds that are supposed to be used for economic development projects.
[...]
“We minimize the layoffs,” said chief sponsor Sen. Brian Bushweller, D-Dover, who has acknowledged that his bill is a “Band-Aid” measure.
[...]
Sen. Harris McDowell III, a Wilmington Democrat, voted against the bill, saying it was going to bail out “failing companies.”
(Excerpt) Read more at washingtonpost.com ...
how the heck does a casino need a bail out. joke!!!
Maryland is crushing Delaware with their casinos.
Let them fail. No bailouts.
T.E.A.
Welfare is welfare regardless of the recipient.
Look at what the casinos have done for Detroit.
I personally don’t care if people want to blow their money on gambling but don’t blow smoke up my rear exhaust port and tell me what wonderful economic drivers they are.
Hmm...why should you sit there and mindlessly give your money to a casino when you can cut out the middleman and mindlessly give your money directly to the state?
If you live in Delaware, start a business and pay yourself a salary of a million dollars a year and then go to the state legislature when you go broke.
So what did they do with their money? My friend the Indian tells me that “casino tribes” have a top-down system of distribution that resembles the 1% on Wall Street. The bigwigs, or “tribal elders,” who are not all old, grab 90% of the proceeds, and the guys on the bottom get only enough to stay drunk. Distribution of assets chart looks like a teepee, very broad on the bottom. It’s pathetic, as there’s so much fetal alcohol syndrome, the system will only get worse.
The house always wins in the end.
don’t forget make campaign contributions to incumbents
The next thing that will come is that they will need to subsidize the horserace track. The casinos were brought in to keep horse racing going. Gotta keep the casinos going, so all the big money that owns horse stables is satisfied.
The government also managed to bankrupt a brothel they owned in Nevada. Its an inbred skill set.
hahahaha
yes but now they are taking tax payer money from some who don’t choose to gamble.
Seems like Delaware Casinos gambled with folks money...and getting a bailout. Let em fail
Something is drastically wrong in this country.....
“Casinos were allowed into Delaware “to bring in money” and now they are spending taxpayer money to subsidize the casinos!”
The lottery was sold in NJ as a means to raise revenue for schools; as a result we have among the highest school taxes in the nation and the most expensive teachers...
Casinos don’t solve anything; even in a good economy Atlantic City NJ was a large ghetto with a sliver of wealth. The parking lots for buses to shuttle employees across southern NJ from Pennsylvania are a real indication of how badly that gimmick misfired...
This at the same time that the governor wants to raise the gas tax and is prepared to shut down the government to get it.
Invest in rope manufacturing. Miles of rope are going to be needed.
“Casinos were allowed into Delaware “to bring in money” and now they are spending taxpayer money to subsidize the casinos!”
Only a liberal state would tax its cash machine out of business then subsidies them when it inevitably starts to fail.
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