Tuesday, November 17, 2009
Foxwood Defaults
Senator Murray and Speaker DeLeo's biggest and best example of the industry that's quickly become their #1 priority just defaulted. If ever there was a time to take a step back and really study this issue before we rush out after fool's gold, now's the time. It's time to start looking at this issue like serious adults, the days of politicians sticking their hands in their ears and singing "lalalalala" should be over.
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2 comments:
It seems that the problem is even worse if you consider the actions of surrounding states that are behaving in the same manner.
Rhode Island is negotiating with Centaur that now appears insolvent.
New Hampshire is being pursued by Cannery that now appears insolvent, rated by Moody as "subject to very high default risk."
Casino KoolAid is a powerful aphrodisiac and this proves it's real!
A sideline to this - if the tribe's sovereignty makes it impossible to collect the debt owed, does that make it less likely that other tribes would be able to get funding to build their own casinos?
And to pile if's on top of if's, does that change the "If the state doesn't build one, somebody else will" argument?
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