$10 Million Bailout For Delaware Casinos Passed by House

originally posted by: Blackmarketeer

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.

Well it was clear TO ME that the OP was never about, or in blame of Biden, the only connection was the Delaware thing.

Nice mince job on the OP's words though, you should consider a career in government...or journalism.

a reply to: FlyersFan

Strip Clubs and Casinos, when you see them struggling to get customers, that is a SURE SIGN our economy is tanking!

State run casinos make money off of gamblers. Loss by the gamblers is built into the casinos take from each game played. The state depends on revenues from the casinos. Casinos have an overhead they need to pay from their profits. Apparently the casinos are experiencing a lull in the number of gamblers. This causes the state to take more of the profits causing the casinos to lose money.

Since the state wants to retain the revenues from the casinos, they will use tax dollars to bail them out. Isn't the revenue from the gambling games a form of tax? Looks like it to me. Its just a way of forcing non gamblers to pay gambling debts that they never incurred by way of using state tax dollars.

a reply to: seeker1963
Yep, I don't know what good it'll do to bail out casinos. The management of the casinos hasn't changed and the economy hasn't improved. So I can't help but think that the politicians are just throwing away our tax money.

originally posted by: MrSpad
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?

I don't understand why they are asking for money if they have 170millon to give the state? What good is 10 million between 3 casinos going to do?

Not really sure what they think giving them money will fix. They'll still tank or they'll need to be given more down the road.

With the economy in the state that it's in I'm not surprised they're having trouble staying in the black. The number of people I know that going to NV to do a little gambling has dropped by two thirds, and now the ones that go don't even come back with stories of how much they bet, lost or won. Now it's they went to eat and walked around a bit and that was it.

Darn democrats trying to decide the winners and the losers of the free market.

Republicans would never use tax payers money to bailout a private company since its in their core value to let the free market decide the winners and looser.

/Sarcasm.

I’m not taking a stand on this issue. Don’t know enough about it and have no feelings one way or the other. Whatever Delaware does, I hope it works out for them. I’m only posting here because it reminded me of something, and I thought I’d share it for what it’s worth.

Back in 2003 California was having financial difficulties, budget overruns, etc., resulting in a gubernatorial recall election in which incumbent Governor Gray Davis was replaced by Arnold Schwarzenegger. The process leading up to the recall election was a real barrell of monkeys. The candidates on the ballot (Arnold being one of many) was unreal. The list of wannabe governors included porn stars, celebrities, average Joes (Archie Bunker types), sports personalities, etc. It turned into a cross between Barnum & Bailey’s Circus and a Hollywood premiere. As I recall, Schwarzenegger referred to some of his foes as “Girly Men” in his speaches. What a hoot! I loved every second of it! Anyway, one of the candidates running for Governor was Larry Flynt, Founder and Publisher of Hustler Magazine. He was my favorite. I even had a big poster with his picture on it that said, “Larry Flynt for Governor of California”. I gotta tell ya, politics was fun back then.

Anyway, the reason this thread reminded me of all that is that of all the candidates on the ballot back then, the only one who had a well defined plan for pulling the state out of financial ruin was Larry Flynt. Go figure. He proposed opening up the gaming industry and cashing in on it. That might or might not have been a poissible/good solution to the downward spiral the budget was headed in, but at least it was a plan; something no other candidate could offer. Whether you like Flynt or not, he’s no dummy. Who knows, maybe Delaware consulted with him before making their decisions. Ha!!

Oh yeah, another funny thing. Back when Obama was bailing out the auto industry, I heard on the news that Larry Flynt made the comment, “What about the porn industry? We need some help, too.”

Well, enough of my nonsense. I couldn’t resist, though, this thread brought all that back up for me.

Cheers!

If casinos would decrease the rake and vig, there would be people lining up to gamble.

Want to really profit from gambling? Casino stock is publicly traded you know.

www.profitquotes.com...

just a little information...

sorry to break up the bashing and blaming festival! With a little research I'll bet we could trace this fiasco back to Obama.

a reply to: FlyersFan

All I know is, I really enjoyed playing poker online for real money, mainly because I could put very little at risk in a well populated tournament, get deep in it, then make a nice chunk, and these morons in DC outlawed it to protect their casino buddies, who no doubt (cough)"take care of them" (cough). Their excuse was that some people abuse online gambling and go too far, therefore, we must outlaw it. They are scum. Bush signed it into law. Obama enforced it. But yeah, let's protect failing casinos. lol. Is this a government run casino? That's about the only way any casino could fail. That, or their games are so rigged that everyone knows it and won't go there anymore.

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.

I'm five or so miles away in PA.
We just call it Dullaware.

Not too far from Cecil-Tucky, MD either

Casino bailouts are peanuts compared to the breaks the credit card banks get...
...And dont be black in Wilmington. I hear it's probable cause to be stopped by police.

I thought the DuPont family owned Dullaware for the most part.

originally posted by: JHumm

originally posted by: MrSpad
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?

I don't understand why they are asking for money if they have 170millon to give the state? What good is 10 million between 3 casinos going to do?

The Casinos would say the state is taking so much out of their pockets with fees etc. that they can not compete with states around them. As for the money state takes the money they do not give it, so at the end of the year even if they are at a loss by a few million the state has been taking their share all along. It would seem the Casinos want some of the money the state is taking back and they would be fine. The state however would rather give them some money for a couple of years to stay afloat because they are still making money off of them directly and they employee a lot of people. And if business does pick up the state does not want to have cut those fees and miss even more money.