The Boston Globe had an article today that raised questions about the revenue projections for the proposed Suffolk Downs Caesar's Casino. Naturally, the proponents of the project are sticking to their claim. They could turn out to be right if two things happen; inflation picks up and no significant competing venues are built nearby. In the meantime, I will side with those who are more conservative in their approach to the income promised by this venture.
In general, I have mixed feelings about organized gambling. People want to bet on things, and it seems to be ingrained in our nature. I am skeptical when politicians and business interests collude to promote these activities. (See item #2--Wall Street)