A Flip of the Coin for a Local Casino [PHIL-OSOPHY]
One of the most fundamental lessons of economics is scarcity, meaning there's never enough of anything to accommodate and provide for all those who want it. One of the first lessons politicians learn is to disregard the lesson of economics. Everyone should keep this in mind as more study will be going into the question of whether southeastern Massachusetts can keep alive a resort casino, while three other gaming facilities in the state are missing revenue targets.
The Massachusetts Gaming Commission just took another look at what could possibly lead to a fourth casino, only this one in our area. While the state is asking for expert information, market analysis and public input on this, a group called Mass Gaming and Entertainment wants to put a rush on building a $677 million casino at the Brockton Fairgrounds.
There's an idiom that says there's only so much water in the glass, and that begs the question whether a fourth resort casino would be successful in a time when we're seeing a downturn in full-service gambling facilities.
All things considered, would a Brockton casino benefit the region and the state and exactly how? What is the earned income of the patrons of this future casino? Are you talking about the filthy rich from Brockton, Taunton, Fall River and New Bedford? I'm trying to be whimsical here, but it's not comical to think they're going to depend on local folks to share their income on a regular basis to sustain a casino's operation.
No one has shown me yet any expert information that shows there's enough ready money in the area to continually fill the casino's kitty. Once the commission collects the documents, reports and whatever else they're using to make a decision on whether or not to give a license for a fourth casino, may I suggest a date for the announcement? It should be held on April 16, the day after we pay our income taxes.
Phil Paleologos is the host of The Phil Paleologos Show on 1420 WBSM New Bedford. He can be heard weekdays from 6 a.m. to 10 a.m. Contact him at email@example.com and follow him on Twitter @PhilPaleologos. The opinions expressed in this commentary are solely those of the author.