Posted on 10/24/2004 9:08:48 AM PDT by NormsRevenge
Non-stop ads and campaigning portray next week's double-barreled initiative battle over gambling as a bellwether that will decide whether California becomes the nation's biggest casino mecca.
The reality is more nuanced: Even if both ballot measures fail, gambling in California is poised to become a major industry. And with the state hungry for revenue and many Californians eager to spend their time and money pulling slot machine handles, many experts predict the industry here could soon overtake Nevada's.
``California is going to be one of the most significant gaming markets in the U.S. They have a truly deep population. They have the tribes who continue to support and build casinos throughout the state,'' said Marc Falcone, a Deutsche Bank stock analyst who follows the industry. ``From a gaming perspective, we think that California still offers a significant growth opportunity.''
Card clubs and racetracks covet a slice of the action. Some Indian tribes with thriving casinos crave unlimited expansion for nearly a century. And Gov. Arnold Schwarzenegger prefers his personal plan -- negotiating expansion deals to maximize the state's take.
The multimillion-dollar election contest centers more on who controls the slot machines, who takes home the money and what share the state reaps.
Just a few years ago, it took a drive to Las Vegas, Lake Tahoe or Reno for most Californians to gamble in earnest. Now, this state's industry is maturing, with splashy casino, hotel and spa facilities replacing dank, rinky-dink gambling halls.
Federal law allows certain tribes to operate casinos on their lands, provided they have agreements with their states. In 1998, California voters first endorsed Indian gambling, but the state Supreme Court struck it down. Two years later, voters again endorsed allowing tribes a monopoly on slot machines, blackjack and other Nevada-style games on their lands. --snip--
(Excerpt) Read more at mercurynews.com ...
There's no such thing as a free lunch for States, particularly when dealing with what is commonly seen as "vice."
Russian mafia ping!
(Is there an italian mafia in CA?)
Don't forget the Chinese mob, the Mexican mob, the crips and bloods, the Thai mob, and the Yakuza.
The minute you legalize a vice in one high profile location, it becomes more acceptable. I also suspect Vegas can kiss it's highly profitable convention business goodbye with legalized prostitution. If that's what the city becomes known for...
I went to a riverboat casino near Chicago when I was out there. Absolutely pathetic to see people getting $100s of dollars out of the ATM and then sitting there, mindlessly running slots.
If they do it, they should take the opportunity to get the pamphleteers off the strip, they did once. I'm there once a year on business and there is nothing more irritating than having hooker ads stuffed in your face every 10 feet by obnoxious in-your-face hustlers.
Been to Vegas maybe, almost 200 times on business in the last 20 years and I've seen the change. A tidal wave of scum moving in, even in the big high end casinos/hotels like CP. However, the Vegas folks don't realize that even their new ad campaign "What happens in Vegas, Stays in Vegas" has caused some hesitation among certain convention type folks.
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