There are many aspect of "Sin City." Where there is gambling and lots of money it attracts prostitution, loan sharking and alcoholism and drugs. Will such increased gambling whereby human beings are wagered actually prove to be a benign and/or benevolent method of economics.
December 4, 2017
December 4, 2017
By David Purdum
...Then-casino owner Donald Trump was attracting big events to town, including Mike Tyson heavyweight fights and a Wrestlemania IV in 1988.
The rise of Atlantic City's prominence as an event destination coincided with a construction boom, highlighted by the building of Trump's $1.2 billion Taj Mahal casino. It was Atlantic City's largest casino when it opened in 1990, and dubbed the "eighth wonder of the world" by its owner. But it also marked the beginning of the end of Atlantic City's first prime.
One year after the Taj Mahal opened, the business filed for Chapter 11 reorganization, according to The New York Times.
With Trump's properties struggling, construction in Atlantic City dwindled in the '90s. Gambling, however, did not. In fact, gaming revenue increased marginally year over year for the entire decade and into the new century. In 2003, the Borgata, billed as the first Las Vegas-level casino in Atlantic City, opened and energized the industry. By 2006, Atlantic City was peaking again. The 12 casinos combined to win a state-record $5.2 billion.
It's been downhill ever since....
It is not completely uncharted territory.
Percentage Americans owning their homes:
The year 2000 saw 62.8 percent of Americans owned their own home (click here). In, 2016, the percentage of Americans owning a home is 60 percent. In 1990, home ownership for Americans was 63.4 percent. In 2008 saw an American home ownership rate of 61.6 percent of Americans.
The point is that since Donald Trump came into office I am seeing a lot more payday loan type of ads on the iPhone. These are not paycheck size. They are nice tidy sums of $10,000 a shot. Americans may have financial solvency, but, the majority of that is held in their homes, cars and education.
If President Trump and his allies in Congress and elsewhere find it acceptable to increase gambling opportunities (YES, gambling and not gaming) how many Americans will continue to own their homes?
It is not completely uncharted territory.
...Not all countries (click here) are equally enamored by gambling, though. Some nations have heavily restricted – or even banned – gambling, while others see placing bets as a major part of their way of life. So just which countries have the highest rates of gambling?
While there are different ways of measuring this, it's hard to pick a nation that's more into gambling than Australia. According to many studies, the average Australian spends more money on gambling than in any other nation – over $1,200 per adult each year. That's not that surprising when you consider that over 80% of Australian adults are said to be gamblers, which is also the highest rate in the world.
What's all the more amazing is how far ahead Australia is when compared to most of the world. A 2010 study showed that Singapore (which has two very new and successful casinos) was close behind Australia. But no other nation spends half as much per adult on gambling, with nations like Ireland, Canada and Italy all spending under $600 per adult per year on betting.
That's not to say that those in other countries aren't serious about gambling as well. In the UK, studies show that nearly 75% of adults gamble from time to time, and 85% of American adults are said to have gambled at least once in their lifetime – with 80% of them having done so in the last year....
Once in their lifetimes is hardly gambling for an American.Percentage Americans owning their homes:
The year 2000 saw 62.8 percent of Americans owned their own home (click here). In, 2016, the percentage of Americans owning a home is 60 percent. In 1990, home ownership for Americans was 63.4 percent. In 2008 saw an American home ownership rate of 61.6 percent of Americans.
If President Trump and his allies in Congress and elsewhere find it acceptable to increase gambling opportunities (YES, gambling and not gaming) how many Americans will continue to own their homes?
