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Posted on 2/9/14 at 10:44 am to SunHog
quote:
If you invested for a 10% return over 40 yrs it would take you $2,300 a month put away to have $1 Million dollars in year 40. Good luck finding anything besides the stock market that pays a continual average rate of 10% return.
I love statements like this that are intended to prove a point to people that don't even make that $2,300 a month to begin with.
Posted on 2/9/14 at 10:48 am to Hawgeye
quote:
We don't need casinos.
I understand your point. And I agree to SOME extent but I don't think they should be outlawed. I guess I'm a pretty good gambler because I set my limits and rules: 1) I very rarely gamble. 2) When I do gamble, it's for fun, not making money. But I also understand the argument for keeping the money in state.
Look...I grew up being very familiar with the liquor industry ...production and distribution because of my family's involvement ever since prohibition was abolished. But I hardly even ever drank, except for Holy Communion and that's just a watered down sip. I still don't. But I'm not against drinking. People are going to do things in excess. It's a fact. Whether we have casinos or not, I can't be responsible for the mistakes of others.
There can be stricter regulations. Presently, a liquor businesses can be held responsible for selling liquor to an intoxicated person. I'm not aware of the laws relating to compulsive gamblers, etc. but there should be limits. As far as the lottery...I don't play or buy the tickets. I do understand that the money doesn't always go where it's supposed to go. But I'm not the one to make moral decisions for others or regarding what they do. It's never worked out very well for me whenever when I've tried. I can vote and share my opinions.
This post was edited on 2/9/14 at 11:13 am
Posted on 2/9/14 at 10:48 am to CtotheVrzrbck
The casinos that Arkansas people go to are in otherwise shitty locales.
The state needs to pass and run state-owned casinos in Hot Springs. Like four of them. Make them nice buildings. With all of the other things to do and see in and around Hot Springs, people would skip Tunica and Shreveport to go there.
In those other two places, you basically have casinos and not a fricking thing else worth seeing.
Its really a missed opportunity.
The state needs to pass and run state-owned casinos in Hot Springs. Like four of them. Make them nice buildings. With all of the other things to do and see in and around Hot Springs, people would skip Tunica and Shreveport to go there.
In those other two places, you basically have casinos and not a fricking thing else worth seeing.
Its really a missed opportunity.
Posted on 2/9/14 at 10:50 am to j1897
quote:
These are the people in casinos, then I have to pay taxes to support them
Then lets throw in any place that sells tobacco and alcohol, and ban all fast food restaurants, people can only drive solar powered vehicles, might as well ban camo and john deer hats, ban cable tv, ban anything that the poor people might spend their money on and that would keep us from having to support them.
Point is, its a free economy and the people have the right to shite their money away as they please, and banning one thing (casinos) isn't going to correct the problem.
Posted on 2/9/14 at 10:58 am to SunHog
quote:
If you invested for a 10% return over 40 yrs it would take you $2,300 a month put away to have $1 Million dollars in year 40. Good luck finding anything besides the stock market that pays a continual average rate of 10% return.
No.
Let's say a kid decides to start saving money at age of 19 instead of hitting up casinos. Say he finds an account to start saving in that is a 10-12% return. He can stop putting money in by the time he is 26 yrs old and he will have over $2 mil saved by the time he is 65.
Invest $2,000=$2,240
20: $2,000=$4,749
21: $2,000=$7,558
22: $2,000=$10,706
23: $2,000=$14,230
24: $2,000=$18,178
25: $2,000=$22,599
26: $2,000=$27,551
Stop putting in $2k
30: $0=$43,352
40: $0=$134,636
50: $0=$418,191
60: $0=$1,298,837
65: $0=$2,288,996
Posted on 2/9/14 at 11:04 am to Pigfeet
Here's a better point.
Arkansas not having casinos doesn't stop Arkansas people from going to casinos.
It just means that Arkansas loses out on that casino revenue, and still has to deal with whatever evils you think casino gambling causes.
So right now, we're in a lose/lose.
Arkansas not having casinos doesn't stop Arkansas people from going to casinos.
It just means that Arkansas loses out on that casino revenue, and still has to deal with whatever evils you think casino gambling causes.
So right now, we're in a lose/lose.
Posted on 2/9/14 at 11:09 am to wmr
I call it a win/win
Have you seen the demographic that is at the small casinos off Oklahoma highways?
I'll pass.
Let them leave.
Have you seen the demographic that is at the small casinos off Oklahoma highways?
I'll pass.
Let them leave.
Posted on 2/9/14 at 11:18 am to Hawgeye
quote:
Let them leave.
They don't leave. They just leave their $ in other states, but still live in Arkansas.
I would never want to see Arkansas be like Oklahoma with a casinA every 30 miles, but a cluster of nice ones, with state control, in Hot Springs would reverse the trend of Arkansas money going out of state to gamble, and would actually bring money in from out of state.
Posted on 2/9/14 at 11:21 am to wmr
Said the same thing about lottery.
Only, each year we have seen the money drop in scholarships. In 20 years, only a select few will get any money from lottery scholarships, or at least that's the trend.
All the while, lottery commish rakes in a salary of half a mil each year.
Only, each year we have seen the money drop in scholarships. In 20 years, only a select few will get any money from lottery scholarships, or at least that's the trend.
All the while, lottery commish rakes in a salary of half a mil each year.
Posted on 2/9/14 at 11:23 am to Hawgeye
Well, the OP points out something interesting that you're not paying attention to, and that is the fact that Mississippi casino revenues have been dropping the past few years.
That is a direct result of fewer gambling $ coming in from Arkansas. Thats partly due to Oaklawn/Southland, and having a lottery.
Its pretty simple. The casinos in other states are clustered next to the Arkansas border for a reason. You can either accept that Arkansans are gambling in other states and leaving their $ there, or you can ignore it. As it stands, we are seeing our money leave the state. We can let it, or we can try to keep more of it here.
That is a direct result of fewer gambling $ coming in from Arkansas. Thats partly due to Oaklawn/Southland, and having a lottery.
Its pretty simple. The casinos in other states are clustered next to the Arkansas border for a reason. You can either accept that Arkansans are gambling in other states and leaving their $ there, or you can ignore it. As it stands, we are seeing our money leave the state. We can let it, or we can try to keep more of it here.
This post was edited on 2/9/14 at 11:24 am
Posted on 2/9/14 at 11:24 am to Hawgeye
quote:
All the while, lottery commish rakes in a salary of half a mil each year.
We pay assistant coaches that much.
I understand your point but getting rid of them isn't going to change anything but to make it illegal and increase prison populations. Do your personal best to prepare for the worst of potential situations Hawgeye. It's not going to get any better...not anytime soon.
This post was edited on 2/9/14 at 11:33 am
Posted on 2/9/14 at 11:28 am to Hawgeye
Didnt the guy that we brought in to run the lottery already get fired for siphoning money?
Posted on 2/9/14 at 11:28 am to Porky
And its an open "secret" that the largest funding for all of the "anti-Casino" advertising in the elections when it comes up are the Mississippi and Shreveport casino groups.
Find a smart way to provide that service here within the state's borders, or continue to watch millions of $ be drained out of the Arkansas economy every year.
I choose finding a way to keep the $ here.
Find a smart way to provide that service here within the state's borders, or continue to watch millions of $ be drained out of the Arkansas economy every year.
I choose finding a way to keep the $ here.
Posted on 2/9/14 at 11:30 am to CtotheVrzrbck
Yes. He got fired in 2011 or 2012.
Posted on 2/9/14 at 11:32 am to wmr
Also, what makes you think it will actually help the economy here?
Our economy is stronger than any neighboring state.
Our job rate seems to be better, our roads....have you driven in LA, Ok, or MS roads? Terrible.
Our economy is stronger than any neighboring state.
Our job rate seems to be better, our roads....have you driven in LA, Ok, or MS roads? Terrible.
Posted on 2/9/14 at 11:33 am to wmr
MS casino revenue dropping like a rock
The "electronic games of skill" was passed by election for Oaklawn and Southland in 2006. Its no coincidence.
quote:
In 2013, the 30 Mississippi casinos collected $2.136 billion in gross gaming revenue. In 1997, 24 casinos collected $1.984 billion. The high year for revenue was $2.891 billion in 2007. The 2013 total is 5.1 percent below the $2.251 billion collected in 2012.
“The state of gaming is competition,” said Allen Godfrey, executive director of the Mississippi Gaming Commission. “Even Pennsylvania just had its first down month in the last five or six years.”
Mississippi casino revenue has been falling steadily since 2007 as more states legalize gaming in an effort to keep their gaming and tourism dollars at home. That competition especially has hurt the Mississippi River casinos, which have seen revenue fall from a high of $1.589 billion in 2007 to $1.072 billion in 2013 — about a 33 percent drop in six years.
The "electronic games of skill" was passed by election for Oaklawn and Southland in 2006. Its no coincidence.
This post was edited on 2/9/14 at 11:36 am
Posted on 2/9/14 at 11:34 am to wmr
quote:
And its an open "secret" that the largest funding for all of the "anti-Casino" advertising in the elections when it comes up are the Mississippi and Shreveport casino groups.
Find a smart way to provide that service here within the state's borders, or continue to watch millions of $ be drained out of the Arkansas economy every year.
I choose finding a way to keep the $ here.
Posted on 2/9/14 at 11:38 am to Hawgeye
quote:
Also, what makes you think it will actually help the economy here?
Our economy is stronger than any neighboring state.
Our job rate seems to be better, our roads....have you driven in LA, Ok, or MS roads? Terrible.
You keep moving the goal posts.
The absolute bottom line is that big $$$ is leaving the state. Since we allowed games of skill at Oaklawn and Southland, less $ is leaving the state.
I don't support outright legalization of casinos in the whole state. I support a zoned legalization for Hot Springs, or even just a state-owned and operated casino, standing alone like the Harrah's in New Orleans.
I really don't understand the basis for your argument.
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