Tuesday, August 12, 2014

Gambling Our Way To Prosperity!

Heckuva Job

NJ edition. While this highlights one of the failures of Chris Christie, there is a more important broader point. 

As more and more casinos pop up around the region, they are going to cannibalize existing casinos. These are not sure fire investments. And they are a terrible use of public funds. 

Doesn't anyone in power have better economic development ideas than casinos and sports stadiums or Xanadu?

"ATLANTIC CITY, N.J. (AP) — Atlantic City's Revel Casino Hotel says it will shut down in September after failing to find a buyer in bankruptcy court. The company announced the move Tuesday, saying it would close its doors Sept. 10. The $2.4 billion casino opened just over two years ago, and never turned a profit."


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