{"id":3376,"date":"2010-06-01T10:08:13","date_gmt":"2010-06-01T18:08:13","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=3376"},"modified":"2010-06-01T10:08:13","modified_gmt":"2010-06-01T18:08:13","slug":"n-y-casino-expansion-pimped","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/n-y-casino-expansion-pimped\/","title":{"rendered":"N.Y. casino expansion pimped"},"content":{"rendered":"

\"\"Casinos in the Catskills<\/strong> have been touted as an economic panacea for nigh unto a decade. We all know the ensuing score: much hype, little accomplishment. Still, that has not prevented one New York<\/strong> gubernatorial candidate from dusting this idea off today and making it the newest plank in her platform. “Manhattan Madam” Kristin Davis<\/strong> is projecting $1 billion\/year\/casino (based on win\/gaming position of $250\/day) if her proposal is enacted. To pencil out, that would require insane amounts of slot play — as much as $900\/day — and Davis’ projected tax haul of $750 million a year implies a revenue projection of $562.5 million\/year\/casino, which is still one helluva stretch, even if the casinos were to draw 25%-33% of their play from out of state, as predicted. Davis’ pitch would allow for at least 3,000 slots and 62 tables per casino and the tax rate (30%-35%) would be comparable to Pennsylvania<\/strong>‘s 34% blended rate, while remaining much higher than New Jersey<\/strong>‘s 8%.<\/p>\n

Given Davis’ notoriety and the obvious long-shot nature of her campaign, today’s announcement from the “Manhattan Madam” is more entertaining — in a wonky sort of way — than newsworthy. However, given the way that the governor’s office has been prostituted by incumbent David Paterson<\/strong> (D) in l’affaire Aqueduct<\/em>, there’s something to be said for a candidate who came by the Oldest Profession honestly … and no, I’m not referring to Ms. Davis’ background in hedge funds. However, when it comes to assuming that casinos are some kind of cure-all elixir for the Empire State’s tax base, she’s just another politician full of blue-sky assumptions that appear tenuously connected to reality.<\/p>\n","protected":false},"excerpt":{"rendered":"

Casinos in the Catskills have been touted as an economic panacea for nigh unto a decade. We all know the ensuing score: much hype, little accomplishment. Still, that has not prevented one New York gubernatorial candidate from dusting this idea … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,28,14,26,101,95,33,31,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/3376"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=3376"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/3376\/revisions"}],"predecessor-version":[{"id":3378,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/3376\/revisions\/3378"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=3376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=3376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=3376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}