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Mohegan Sun Layoffs
| September 16th, 2010 at 8:49:48 PM permalink | |
| mkl654321 Member since: Aug 8, 2010 Threads: 65 Posts: 3412 |
Pretty much by definition, money spent gambling is discretionary expenditure. It also falls under the subcategory of discretionary income spent on entertainment. So the money not spent wouldn't go into piggy banks (though that wouldn't be the worst outcome in the world), but rather, to other forms of entertainment--movie theaters, restaurants, etc. in the surrounding metro areas. I would expect that this would be healthy for the economies of the surrounding communities--a net gain. I don't know how much of the present profit of Foxwoods/Mohegan stays in the state of Connecticut, but I would bet that most of that profit winds up elsewhere. Of course, the state would lose some tax revenue if the casinos went away. I think what you're referring to is the "economic multiplier effect". It is of modest force in the case of an isolated casino that makes no investment in material productivity, and employs mainly unskilled workers. In any case, that effect would be much more pronounced if the money referred to was more dispersed, i.e., people spent the money formerly lost to the casinos in hundreds of other places instead. Another consideration would be the drastic and massive social impact of casinos, which would disappear if the casinos disappeared. I have no idea of the impact of the casinos on Connecticut's social services burdens, but I'll bet it's considerable. The fact that a believer is happier than a skeptic is no more to the point than the fact that a drunken man is happier than a sober one. The happiness of credulity is a cheap and dangerous quality.---George Bernard Shaw |
| September 17th, 2010 at 5:13:11 AM permalink | |
| SanchoPanza Member since: May 10, 2010 Threads: 23 Posts: 727 |
The fault in that line is that travelers from more than, say, 25 miles away would not be going to what the state calls the Mystic region, meaning that the money those folks spend in the region would not be spent there.
One can theorize or guess or "bet" all one wants, but when an enterprise is the largest private in the whole state it is most definitely making an important contribution to the economy. Take for instance any number of well-known Connecticut companies like United Technologies or Stanley Works. Much of their basic production is in other states or overseas. Yet they are major components of Nutmeg Pride.
Problem is that without the drawing power of those casinos, people would not travel there to spend their money. And there is no way in the world that the surrounding region could maintain economic activity anywhere close to where it is now.
For someone who likes to bet with an advantage, that information would be easy enough to find out, especially from places like Gamblers Anonymous. |
| September 17th, 2010 at 6:30:17 AM permalink | |
| FleaStiff Member since: Oct 19, 2009 Threads: 75 Posts: 4807 | I think firing the managers and directors is probably a good idea. Food service workers? Closing of restaurants? Not a good idea but if people think that their monopoly status has been causing price gauging ... maybe that makes it good that the casino is taking some punishment. Its often the view of customers there that Foxwoods treats people fairly poorly and has a 'if you don't like it here, trek to Las Vegas' attitude. Sad day? Reality Day. Sad or not. They will probably survive on their lower take but will soon have to realize that no one has a monopoly anymore in the sense that travel is simply too easy for any one casino to rest on its laurels. If gambling money is considered discretionary then I think an economist would have to admit that the locus of its expenditure is also quite discretionary. Oh there may be matters of convenience and preference, but most gamblers who "vote with their feet" are really going to be voting with more upscale transportation than that. Some who made a point of driving even a greater distance to get to the more enjoyable casino may now decide to trek even further afield. Monopoly? Heck, some economists would say its the players who have the monopoly. They control which casino, how much and when! If things have gotten out of line, the economy provides some corrections and so do the players! Eventually the casino will learn that they should re-hire the food service workers and fire far more directors and managers! Closed restaurants do not attract gamblers. Nor do high prices overly hiked by monopoly powers. |
| September 17th, 2010 at 7:45:27 AM permalink | |
| Niblick Member since: Dec 12, 2009 Threads: 15 Posts: 108 | FWIW This week I went to Mohegan Sun-Pocono Downs; the environment at the Racebook/Simulcast was flat out seedy. The language was over the top bad...F-bombs were loud and omnipresent (in front of women, children, etc.) So I went the next day to express displeasure. The response that I received was as follows: 1. I wasn't the only one to complain...in fact, it is a common complaint, 2. These complaints have been passed on to management, 3. The reason why the situation exists is that there is no security personnel (a correct observation), 4. It is doubtful anything will be done. My question is, does anyone think there is any connection between the observations listed in this thread and what I observed/heard at MS-PD? Nemo Omnibus Horis Sapit |
| September 17th, 2010 at 8:55:02 AM permalink | |
| only1choice Member since: Jul 8, 2010 Threads: 20 Posts: 160 |
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| September 17th, 2010 at 10:28:43 AM permalink | |
| Niblick Member since: Dec 12, 2009 Threads: 15 Posts: 108 | I asked about that and was told that, provided that the children are with parents, they were allowed. Thing is, since there was no security personnel, the children's access was basically unabated. The complicating factor is that there is direct access from the racetrack apron. Still, there is access to the apron from the parking area that bypasses the Racebook/Simulcast area (w/lavatory facilities) so it would be possible to preclude access by the underaged to the Racebook yet allow access to the live harness racing track. Nemo Omnibus Horis Sapit |
| March 23rd, 2011 at 3:16:18 PM permalink | |
| redsox Member since: Mar 23, 2011 Threads: 1 Posts: 5 |
This does not signal any sort of demise. Looks smart from a business perspective. Foodservice workers produce less revenue than say, dealers. Managers and directors have higher salaries - and I speculate that many who have been with the casino since opening have been riding a wave of good times. Fire them and promote their underlings at lower salaries. Makes sense. |
| March 23rd, 2011 at 4:27:30 PM permalink | |
| benbakdoff Member since: Jul 13, 2010 Threads: 17 Posts: 448 | They're holding their own. Slot profits for February were $58 million. |
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