$10 Million Bailout For Delaware Casinos Passed by House

Coming to you from Joe Biden land ... a $10 Million bailout of three Delaware Casinos. Yes .. casinos. Apparently the casinos are a major source of revenue for the state of Delaware and the state supposedly can't afford to let them go under. So the taxpayers are bailing out the casinos.

'It's just Delaware' you say. "No biggie" ?? Not so fast ... seems that casinos across the country are having financial problems. (Nevada. Pennsylvania. Atlantic City/NJ. Tribal Casinos. Missouri. Minnesota. ETC ETC ) Many states hit the casinos up in a big way to provide income to each states budget. Will Delaware be setting precedent and will YOU be bailing out the casinos in your state? It could happen. What do you think about using tax payer money to bail out casinos? Is it a good investment of your tax money?

Delaware - $10M bailout for casinos passed by House

Delaware lawmakers approved a $10 million financial bailout for the state's three casinos in one of the final acts of this year's legislative session. The casinos have complained repeatedly that they're struggling with increased competition from neighboring states and have to share too much of their gambling revenue with the state.

%30 of the income from the casino tables goes to the Delaware State General Fund.
8% of the Delaware state budget comes from casino income.
Dover Downs is approx. $50 million in debt.

There are many jobs tied to these casinos and their contribution to the state general fund. Hotels, restaurants, casino staff, as well as the state jobs that get paid for with the income from the casinos. Is it worth paying tax payer money to keep failing casinos floating?

Washington Post - Delaware is Bailing Out it's Casinos .. wait what?

Table Games In Trouble

Delaware Budget Cash Cow Drying Up

a reply to: FlyersFan

Not a resident of your country but if a casino is in debt, they are obviously not doing their jobs correctly as casino's are generally profitable businesses.
It might be a sign of the times that people aren't going to casino's and if that's the case then bailing them out is not going to make a difference. All it will do is prolong the inevitable but it will make sure that the directors get a good payoff before closing down.

a reply to: FlyersFan

The taxpayers should not bailout ANYONE! At all. Ever!

No company is to big to fail. If you run your business into the ground, it should stay there.

I just don't understand how people are okay with this. Lets help the rich get richer. Yeah, that seems like good logic.

Will the government bail me out if I loose my money at a casino? NO ! That's gambling. And the casino owners should know that is how the game works. Why do they get bailed out? This is not a good idea. It will lead to more types of businesses be saved because people are spending less money. The casinos get saved because the state or the lawmakers get a cut of that money and they can't let that happen.

a reply to: mclarenmp4

I agree with you that it is a sign of the times. Who has money to gamble??? I live in a land of many Indian Casinos and I am 4 hours from Vegas. What used to be a recreational activity is now financially prohibitive. Once in a while I will go pay 30 bucks for the all you can eat lobster buffet. But anymore, can't afford to play at the tables. It is a luxury lost.

a reply to: FlyersFan

It appears the casino owners rolled a snake eyes and came out a winner.

Paying them out won't save their business, when people can't afford to gamble then the losses will accumulate; hence the bailout. So what happens the next time no one can afford to gamble away their life savings, to they get another bailout? They are feeding a beast that no longer has the energy to eat.

a reply to: FlyersFan

My little brother works for a tribal casino in California, and I don't know if they are all this way. But I think it's more of they are keeping California afloat. I find it funny that a indian reservation/land is considered a sovereign nation with their own fire dept., police, schools, government, etc. But build a casino and they are quick to make sure they get their cut.

a reply to: MarlinGrace

We are from Connecticut originally and still visit there when possible. We like going to FOXWOODS. It's tribal. We don't gamble really. Pull a few slots is about all. But we like the shops and the atmosphere. Back when I could eat like everyone else (before autoimmune) we liked the restaurants there too. The tribe did an excellent job with the casino and the local area. Beautiful view of the rolling Connecticut wooded countryside out the big windows ... .

originally posted by: FlyersFan
a reply to: MarlinGrace

We are from Connecticut originally and still visit there when possible. We like going to FOXWOODS. It's tribal. We don't gamble really. Pull a few slots is about all. But we like the shops and the atmosphere. Back when I could eat like everyone else (before autoimmune) we liked the restaurants there too. The tribe did an excellent job with the casino and the local area. Beautiful view of the rolling Connecticut wooded countryside out the big windows ... .

I am sorry to hear about your autoimmune disease, my aunt suffered from it terribly, I miss her she was a great lady.

In California they give 100's of millions to the state, and the indians know how to play the political system were well. The indians deserve every penny they make, they have been screwed by the feds for decades on a lawsuit over taken property that belonged to indians.

Well this is a no brainer. The state is making 180 million off of these Casinos in a year. !0 million to keep them going still gives the state a net gain of 170 million. They do not seem to want to cut down on all the fees and taxes on the Casinos because it is a cash cow for the state but, would that not make more sense than giving them back some of what you already took?

a reply to: MrSpad

I hear ya'. The fees and the states 'cut' are rather high. That's what's killing the casinos. Well, that and the fact that people in this part of the country don't have money to burn in casinos in general.

Joe Biden has nothing to do with state level politics. So why do you bring his name up in this, other than making a straw man smear?

It was passed by both Republicans and Democrats in the Delaware state legislator. So what's the beef? Other than the fact this happened in Delaware, and your attempt to make this about Biden?

a reply to: FlyersFan

Too big to fail I guess.

originally posted by: Blackmarketeer
Joe Biden has nothing to do with state level politics. So why do you bring his name up in this, other than making a straw man smear?

Oh stop it. I"m from Delaware. We call this 'Biden land'. And everything that happens in this state is known to the Bidens and/or they have their fingers in it. There is nothing wrong with me calling this 'Biden land'. That's what it is. Oh .. and no where in the OP did I even remotely say that he caused this. Not once.

Must be something seriously wrong if a casino is failing...either the people are broke or maybe a poor business model...

These clowns just use taxpayer money for all their little friends, don't they. The people should issue arrest warrants for all who voted yes on this. This is crazy. Politicians won't help people but they help casinos.....this is where American politicians are right now. Remember in the old days when they actually feared tax payers? They wouldn't have dared tried it back then.

a reply to: FlyersFan

I was just going to say...

Someone must be buttering Biden up for some White House support to an issue down the road. This is too off the wall and outright stupid in this growing "NO Bail-Out" attitude among the public. This is the LAST thing I'd expect any Political strategist to allow their client to play around, closing on a critical Mid-term election.

There has to be a deal behind it (even if its not Biden) that overrides the obvious issues against it.

Tone deaf and dumb as a post describes this brilliance.

originally posted by: FlyersFan

originally posted by: Blackmarketeer
Joe Biden has nothing to do with state level politics. So why do you bring his name up in this, other than making a straw man smear?

Oh stop it. I"m from Delaware. We call this 'Biden land'. And everything that happens in this state is known to the Bidens and/or they have their fingers in it. There is nothing wrong with me calling this 'Biden land'. That's what it is. Oh .. and no where in the OP did I even remotely say that he caused this. Not once.

You say:

"and no where in the OP did I even remotely say that he caused this."

But then you wrote in your OP:

Coming to you from Joe Biden land ...

Then go on to say:

And everything that happens in this state is known to the Bidens and/or they have their fingers in it.

Thus, you are blaming this on Joe Biden, even if it was done by the local state legislators, and has nothing to do with the VP.

originally posted by: Blackmarketeer
Thus, you are blaming this on Joe Biden, .

Not even close. Read again. Moving on ....

originally posted by: Wrabbit2000
Someone must be buttering Biden up for some White House support to an issue down the road.

I don't know if Joe BIden had a chance. However, his son Beau Biden is absolutely being groomed for higher office. He's everywhere around here.