To: Nittany Lion who wrote (8750 ) 6/15/1998 7:49:00 PM From: Market Tracker Read Replies (1) | Respond to of 10368
Here in Connecticut we have the Mashantucket Pequot [Foxwoods}, and the Mohegan [Mohegan Sun} Indian Reservations and casinos, respectively. In 6 years, Foxwoods has grown from a hole in the ground to the largest casino in the western hemisphere now employing on the order of 11,000 people. This sovereign nation, through their creativity, hard work, and attention to details, has IMO produced one of the greatest success stories I have ever seen since Bill Gates was in high school. :) The State of Connecticut (through a deal cut by former governor Lowell Weicker), gets 25% of the net win from all slot machines. All table games are exempt from any state payment requirement. Now, I have been in dozens of casinos throughout the U.S., Las Vegas, the Carribean, and South America, and nowhere did I ever see a busier casino. On this particular Tuesday morning in October there were 27 crap tables operating, and it was next to impossible to get to play at any one of them. It was the dictionary definition of a "madhouse". I too, have no love lost for "The Donald". His New Jersey casinos are located better than 200 miles from the 2 Connecticut Indian casinos, and my best guess is they are cleaning his clock in the Northeast gaming market. IMO the Indian casinos in CT are putting out a better product, in better surroundings, and are being very handsomely rewarded for their past solid business decisions. Prior to full scale gaming, the Mashantuckets ran only high stakes Bingo. The SC Catawba Indian high stakes bingo events, could possibly be impacting the small charitable operators. The lure of the big money prizes does present an unlevel playing field, and hopefully the State will permit others to allow equal prizes. Gary