Casino Coming to Terredice

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Amazing as it would seem - maybe to most not really - but since it's been in this town my entire life it's quite amazing. It appears the end of the Honey Creek Mall could be near. Another store left - owners are apprently trying to sell... It wasn't what I had in mind for a casino location but it might make a good location - we will see if that ever happens.
 

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SycamoreStateofMind said:
Amazing as it would seem - maybe to most not really - but since it's been in this town my entire life it's quite amazing. It appears the end of the Honey Creek Mall could be near. Another store left - owners are apprently trying to sell... It wasn't what I had in mind for a casino location but it might make a good location - we will see if that ever happens.
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I know this is unlikely since we didn’t “qualify” for a Target several years ago, but if we could put Target in the old Macy’s spot that would really revitalize the mall.
 
SycamoreBlue3209 said:
I know this is unlikely since we didn’t “qualify” for a Target several years ago, but if we could put Target in the old Macy’s spot that would really revitalize the mall.
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Maybe a Target doubled with a Dicks Sporting Goods. And then maybe but lets be honest - a casino is more likely and neither is actually going to happen in that location.
 
Bluethunder said:
But if everyone goes in with eyes wide open, who’s fault is it that people lose their money?

As a friend of mine says when describing any casino, “it wasn’t built by letting people win”.
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IFeveryone went in with their eyes wide open, you'd have a valid point. However, too many people are CONVINCED they're going to be the next Big Winner...

your friend is correct, casinos are DESIGNED to take your money - period.

The idea that they bring any economic input to an area is arguable
 

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niklz62 said:
The difference between that wealth transfer and the one government uses is that it’s voluntary and government uses the threat of imprisonment if you don’t give them your money.
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Given your address, you're not exactly a judge of good government but what "government wealth transfers" interest you?
 
4Q_iu said:
Given your address, you're not exactly a judge of good government but what "government wealth transfers" interest you?
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i don’t live in Chicago so I’m not sure your assumption is valid, but what government transfers are you willing to incarcerate a person if they refuse to participate jn
 
I'm not a big fan of gambling. but I have said long ago that the reason the government does not like the mob is that the government does not like competition. Maybe someone should sue them for antitrust violations.
 
Even if it is a short term thing (5-10 years), that is revenue for local and state gov't that is voluntary participation. Would it be wise to call a casino a silver bullet for the local economy? That feels short sighted.

It will be interesting to see where the casinos are green lighted once the legislature gets the sports gaming bills enacted.
 

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SycamoreStateofMind said:
Maybe a Target doubled with a Dicks Sporting Goods. And then maybe but lets be honest - a casino is more likely and neither is actually going to happen in that location.
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I walked out of planet fitness the other day and it’s just sad what has happened with the retailers down there. I too remember the mall for as long as I’ve been alive and the hustle and bustle at Christmas time. Just as I’m sure people older than me remember the glory days of the downtown bustling with shoppers. Hard to believe that both may be a thing of the past. The mall could be a great spot for a casino and would definitely pump life back down there. I’m not a big gambler, but don’t have a problem with it. As far as the people who can least afford it making bad decisions. Sorry to say, but they will make them anyway. I see these same people that can’t afford groceries spending money on cigarettes and booze and drugs and cell phones they can’t afford, etc. it’s not that I don’t feel for them, it’s just that I believe in personal responsibility. And that’s something that a lot of people in this country have lost sight of. I’m sure the people who gave us the new deal were well intentioned. But the fact is we’ve created a society of takers and people that feel they’re entitled to something without working for it. Sorry for getting on my soapbox there. Back to the casino. I think Gibson will make it happen, but it’s more likely he’ll put it on land he already owns. Happy Nee Year Sycamore fans, I think it’s gonna be a good one.
 
Big article in Indy Star about shifting locations for casinos in Indiana --- several references to Terre Haute getting one.
We'll see ……………….
 
I’ve got to think bringing a casino and any other developments that follow will have positive tax implications for the city - right?? A city/county that could use a shot in the arm - no??

All the sudden new highschools, new jail, new police department, riverfront development etc etc look more realistic.

I’m no tax law expert but tell me why I’m wrong? It seems pretty easy and shortsighted to get into a moral debate about the negatives of bringing a casino...
 
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SycamoreStateofMind said:
I’ve got to think bringing a casino and any other developments that follow will have positive tax implications for the city - right?? A city/county that could use a shot in the arm - no??

All the sudden new highschools, new jail, new police department, riverfront development etc etc look more realistic.

I’m no tax law expert but tell me why I’m wrong?
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Would it surprise anyone if any new construction, businesses and attractions get such a sweet tax deal from the city/county/state that the result is a burden on already limited resources?
 

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SycamoreStateofMind said:
I’ve got to think bringing a casino and any other developments that follow will have positive tax implications for the city - right?? A city/county that could use a shot in the arm - no??

All the sudden new highschools, new jail, new police department, riverfront development etc etc look more realistic.

I’m no tax law expert but tell me why I’m wrong? It seems pretty easy and shortsighted to get into a moral debate about the negatives of bringing a casino...
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Depends on how things are negotiated. Here is a report of how 2016 shit was split.

https://www.in.gov/sba/files/LGS_Distribution_Report_2016_Revised_03-08-17.pdf

And they appear to be changing the law so less taxes were being paid starting in 2021.

https://www.indystar.com/story/news...asinos-could-start-paying-less-taxes/97561330

So who is going to negotiate the split? If it's Gibson, that is a gigantic conflict of interest since it looks to be his casino project and he is on the boards that stand to get portions of the tax.
 
It would be a vast mistake for T.H. and ISU athletics if a casino was to relocate there. Once an observer peals back the thin veneer of philanthropic theatrics that casinos proudly advertises they are nothing more than a parasite on local economies. The only exception is if the casino is owned, operated, and 100% of the proceeds are reinvested into the community, but that is never the case. People who believe casinos provide any benefit economically to local economies don't understand economics. What little increase in imported economic activity is always lost to the export of casino revenue. They are a drain. T.H.'s future needs to be directed elsewhere. Casinos didn't help: Evansville, Gary, Harrison County, Rising Sun, or Michigan City. What economic activity the casino captures is at the expense of other local businesses. A casino won't help T.H., and it will compete as an entertainment venue and resource for ISU athletics.
 
ISU02 said:
It would be a vast mistake for T.H. and ISU athletics if a casino was to relocate there. Once an observer peals back the thin veneer of philanthropic theatrics that casinos proudly advertises they are nothing more than a parasite on local economies. The only exception is if the casino is owned, operated, and 100% of the proceeds are reinvested into the community, but that is never the case. People who believe casinos provide any benefit economically to local economies don't understand economics. What little increase in imported economic activity is always lost to the export of casino revenue. They are a drain. T.H.'s future needs to be directed elsewhere. Casinos didn't help: Evansville, Gary, Harrison County, Rising Sun, or Michigan City. What economic activity the casino captures is at the expense of other local businesses. A casino won't help T.H., and it will compete as an entertainment venue and resource for ISU athletics.
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Once upon a time I would have bought this... Things come and go in cycles - I feel like people with this opinion are people who have convinced themselves of this argument and are unwilling to hear any other arguments. You will forever believe that about casinos and nothing will convince you otherwise.

I don't think the negative impact is near as devistating as you attempted to describe it. Nor do I think the positive impact is what some gaming industry "people" would lead us to believe. I think it's probably more neutral than that.

I will also make the same arguments here as I did in defending the Gibson / Convention Center. If Gibson wants to invest his money, resources in Terre Haute why would anyone in the right mind try and get in the way of that? It's not your money or investment - who cares. Terre Haute literally has nothing to lose. The casino is not going to bankrupt Indiana State, SMWC, Rose Hulman and Ivy Tech - 4 of our largest most prominent employers. Beyond that, Gibson has been involved in many business ventures across the United States and is a highly successful business man - he understands economics as well as anyone wasting time posting on a message board - I can assure you.
 
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Should a casino in a town on one of the busiest interstates in the country help the local economy? Yes locals will use it a lot but I'm sure alot of truckers or people traveling would to. It's income from other states that can help the city.
 
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