Less Milk from the Casino Cash Cow? Toledo Casino Set to Open.

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May-21-12, 06:40 PM
Lowell

Less Milk from the Casino Cash Cow? Toledo Casino Set to Open.

It is scary to imagine the state of City of Detroit finances if the casino revenue did not exist. Soon the city's lucrative oligopoly if not challenged will certainly be nibbled-away as casinos in Toledo and Cleveland nibble from the south and a proposed one in Lansing from the north.

Estimate are now say it will be only a 3% hit, but I could be very happy with 3% of $1.4 billion.

One advantage the Detroit casinos will have [although I find it despicable] is that the Toledo casino will be smoke-free.

Nonetheless this portends a long-term threat to financial stability. Should a suburban community succeed in opening one all bets are off.
May-21-12, 08:16 PM
softailrider

Put a Soaring Eagle type casino/hotel on the Pontiac Silverdome site and all bets would be off. I think that would be the perfect location in Oakland County.
May-21-12, 08:53 PM
313WX

Quote:

Originally Posted by softailrider

Put a Soaring Eagle type casino/hotel on the Pontiac Silverdome site and all bets would be off. I think that would be the perfect location in Oakland County.

Try 4 Soaring eagles in the suburbs.

That's the proposal out of Lansing.
May-21-12, 10:15 PM
Gistok

With the amount of money that the Detroit and state's Indian casinos can muster to counter such a ballot initiative... I'm not losing any sleep over this one... Snyder is against it as well.
May-21-12, 10:45 PM
CLAUDE G

I see a little short term drop in business at the Detroit casinos when the Casino in Toledo opens, just because people like myself will go down there to check it out.

I can see myself making 1 trip down there from Detroit, but other than that I aint gonna spend 2 hours driving down there everytime I want to go to the Casino.

Granted the Detroit casinos will loose some business from Ohio, but I don't see it as a big issue, as this Casino is going to do is draw new business from customers deeper into Ohio who would normally not go to the casino on a regular basis.
May-22-12, 12:47 AM
Wesley Mouch

Quote:

Originally Posted by Lowell

It is scary to imagine the state of City of Detroit finances if the casino revenue did not exist. Soon the city's lucrative oligopoly if not challenged will certainly be nibbled-away as casinos in Toledo and Cleveland nibble from the south and a proposed one in Lansing from the north.

Estimate are now say it will be only a 3% hit, but I could be very happy with 3% of $1.4 billion.

One advantage the Detroit casinos will have [although I find it despicable] is that the Toledo casino will be smoke-free.

Nonetheless this portends a long-term threat to financial stability. Should a suburban community succeed in opening one all bets are off.

Basing your city's finances on artificial monopoly casino revenue is not 'sustainable'.

I do not shed tears for any job losses that reduce city administration costs to the bare minimum. City government should not be a job machine.

If the city's finances are such a mess -- then let's go bankrupty, and consider regionalization or total elimination and let the state administer the city. Who cares. As long as there's land records, birth and death records, police, fire and public transit. We can do without roads.
May-22-12, 06:27 AM
DetroitPlanner

Quote:

Originally Posted by Wesley Mouch

Basing your city's finances on artificial monopoly casino revenue is not 'sustainable'.

I do not shed tears for any job losses that reduce city administration costs to the bare minimum. City government should not be a job machine.

If the city's finances are such a mess -- then let's go bankrupty, and consider regionalization or total elimination and let the state administer the city. Who cares. As long as there's land records, birth and death records, police, fire and public transit. We can do without roads.

How are you going to run transit or get product out or into the city without roads? Roads have been around a lot longer than transit has. It is the base level for transportation regardless of mode. Without roads trade shrivels up and trade creates/supports stores and manufacturing jobs.
May-22-12, 06:40 AM
Zacha341

Yep, there will be a temporary drop here as new casinos run their machines to give a higher payout [[within some regulations) when they first open, then reduce their payouts as time goes. Ask some of the early stiffs - um I meant, gamblers of Motor City that used to have a higher payout on their slots. Very tight down there now. Ultimately the 'house' wins!

Quote:

Originally Posted by CLAUDE G

I see a little short term drop in business at the Detroit casinos when the Casino in Toledo opens, just because people like myself will go down there to check it out.