Posted on 10/23/2010 5:31:08 PM PDT by Cacique
FOR IMMEDIATE RELEASE:
NEW YORK, October 23, 2010 -- Carl Person, the Libertarian Party candidate for New York State Attorney General states: “The numbers don’t add up. Why should State Senator Eric Schneiderman and his ally, Democratic Senate leader John L. Sampson, agree to give away $60 billion in Aqueduct casino operating rights for only $300 million?”
“Schneiderman is corrupt or incapable, and NYS voters should reject him either way”, states Person.
Person went on to say: “New York State could take the $60 billion asset itself and balance its budget, or at least get an additional $4.5 billion per year in revenues by operating Aqueduct itself, like it operates its lottery operations.”
The combined slot net revenues of nearby Foxwoods and Mohegan Sun casinos amount to $1.4 billion each year (when restoring the 25% payment to Connecticut), and Aqueduct because of its location, as New York City’s only casino to be (even when operating with the proposed Belmont casino), has the potential for at least twice as much net slot revenue, and substantially more if table games are added.
This means that Aqueduct (alone, or with Belmont) could be producing for its owner(s) more than $3 billion each year in net revenue, which should be worth (at 20 times net slot revenue for a monopoly casino) about $60 billion. Yet, Schneiderman and Sampson are offering Aqueduct and the exclusive gambling rights for a mere $300,000,000. This is 1/2000th of $60 billion of value – which is more than the amount stolen by Bernard Madoff. The arrangements between Schneiderman and the favored purchaser (whoever it is) need to be investigated by an honest NYS Attorney General. The present Attorney General (Andrew Cuomo) has failed to do this, and his running mate, Schneiderman, was nominated by the Democratic leadership in Albany to make sure no investigation takes place.
This $60 billion giveaway by Schneiderman and Sampson needs to be investigated, and Schneiderman should either withdraw his candidacy, or be prepared to face impeachment if he should win.
Dan Donovan, the Republican candidate for Attorney General, as a current prosecutor, has done nothing to stop the corruption in Albany, which is made possible by illegal activities occurring in Staten Island. Accordingly, Donovan is not the person who should be elected Attorney General.
Instead, I am the candidate who should be elected. I have been a private attorney general for more than 40 years. I have never been on the ballot before and have never held any public office. I do not have any major corporations as clients. In short, I have no conflicts and am the reform candidate who can and will stop corruption in Albany and elsewhere, starting with Aqueduct.
Carl E. Person Libertarian Party Candidate for NYS Attorney General 325 W. 45th Street – Suite 201, New York NY 10036-3803 212-307-4444 or cell: 917-453-9376 carlpers2@gmail.com or campaign websites: http://www.carlperson4NYAG.com and carlperson.org
Can you add this to the New York board?
By principle, shouldn't the Libertarian oppose the government regulating the operation in the first place, thus, Schneiderman's actions would simply be divesting the government of something it didn't have the right to anyway.. the cheaper the better? I guess the Libertarian is just another game player, principles be damned?
The problem is that the government currently owns and controls it. At the same time getting a fair market value would benefit the taxpayers since they will be stuck with the bill for giving it away anyway. At least by getting a fair market value for the property we can use the funds to close the deficit and lower taxes. It’s not as black and white as you make it seem.
ping
I’m sorry, but no casino, real or imagined, is worth $60 billion.
Apropos to the above the NYPOST story..
http://www.nypost.com/p/news/local/october_surprise_ruins_the_whole_Y7HRYebUsnKuK2hbe90aXN
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