Why build a casino in bad economy?
In the Nov. 18 article, "High casino bid can't be top criterion," it seems as though the author is suggesting that the state should not make its decision on who gets the 10th gaming license strictly on the bid amount. But the point of awarding another gaming license is to increase revenue to the state.
Any suggestions that say it's "for the people" are unbelievable. This is the state of Illinois trying to earn money and they've even come out and stated that. Illinois Gaming Board Chairman Aaron Jaffe said gaining the most money for the state will be one of his main reasons for choosing a winning company.
The idea of building another casino now, in the midst of the major economic drought, seems absurd. If people won't spend their money on the already existing casinos, why would they spend money on a new one?
The current casinos lost over $42 million in just October 2008 as compared to the same month in 2007. That's no reason to build a new one.
The Grand Victoria Casino in Elgin is by far the most popular casino and usually draws the biggest profit. But over the last year it dropped 27 percent. That's a number that would scare anyone in their right mind who is thinking about spending half a billion dollars on a total chance.
I don't get it, but apparently the Trilliant Gaming Co. does because they have already bid $435 million. The numbers don't lie, casinos are suffering huge losses, and the plan is to build another one. Isn't government supposed to protect the people?
Nick Maze
St. Charles