The Benefits of Casino Gaming?
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Really? Because Detroit’s three gambling halls have been open and even expanded during this past decade and yet...
From Forbes this past week:
Detroit is America’s #1 Most Dangerous City!
From Huffington Post in March:
New census data indicates Detroit's population dropped by a startling 25 percent in the last decade, from 951,270 in 2000 to 713,777 last year. That's a 60 percent decline from its 1950 peak population -- 1.85 million -- and the lowest count since the 1910 Census put the then-promising Motor City's population at 285,704.
From forecastchart.com last January:During the 10 years ended in the 1st Quarter of 2011, Detroit Home Prices had the worst performance in the country, with appreciation during the decade of -26%.
From the U.S. Dept of Labor, Bureau of Labor Statistics:
Who Really Benefits from Casino Gaming?
The Ilitch Family (owners of Detroit’s Motor Casino, Red Wings Hockey and Tigers Baseball teams, and Little Caesars’ pizza), Michael Malik and their other PR agents have used those same economic benefit arguments every time they want something from Detroit’s hard working taxpayers – when they want to condemn property or get the Deed City controlled property for "free" (without consideration); when they ask taxpayers to fund demolition of buildings they’ve let fall into disrepair; when they secure ticket tax breaks; or worse yet, want the taxpayers to subsidize their parking, sports and entertainment venues.
The Ilitch Family (owners of Detroit’s Motor Casino, Red Wings Hockey and Tigers Baseball teams, and Little Caesars’ pizza), Michael Malik and their other PR agents have used those same economic benefit arguments every time they want something from Detroit’s hard working taxpayers – when they want to condemn property or get the Deed City controlled property for "free" (without consideration); when they ask taxpayers to fund demolition of buildings they’ve let fall into disrepair; when they secure ticket tax breaks; or worse yet, want the taxpayers to subsidize their parking, sports and entertainment venues.
In truth, the only Detroiters better off today than they were 10 years ago have the last name “Ilitch.”
Last month, in its annual ranking of the 400 Richest Americans, Forbes reported that during the last year, the Ilitch family’s net worth went from $1.7 Billion to $2.0 Billion! They are #212 on the list of 400 Richest Americans. In 2004, Forbes estimated the Ilitch Family’s worth at $750 million.
Beware Detroiters who roll into your town and extol the economics of casino development! They only people who will be enriched are the Detroiters. They’ll even prey on their own.
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