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A good way to wreck a local economy: build casinos

Home Forums General Columbus Discussion Development A good way to wreck a local economy: build casinos

Viewing 15 posts - 1 through 15 (of 56 total)
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  • #1033971

    Ned23
    Participant

    Interesting article from the Atlantic. Agree? Disagree? In the article the casino owners admit that casinos aren’t supposed to help an economy. Only that’s not how the television campaign for the ballot initiatives read. The National Association of Realtors says they have a negative impact on property values.

    A Good Way to Wreck an Economy: Build Casinos – (The Atlantic Aug 7, 2014)

    …No one should look to casinos to revive cities, “because that’s not what casinos do.” So explained the project manager for a new Wynn casino rising near Philadelphia. He’s right, but it has taken a surprisingly long time for city governments to acknowledge a fact that was well understood by the 19th-century Americans who suppressed gambling in the decades after the Civil War.

    The impact of casinos on neighboring property values is “unambiguously negative,” according to the economists at the National Association of Realtors…

    Casino

    #1033989
    Walker Evans
    Walker Evans
    Keymaster

    Hrm. Ya don’t say…

    #1033992

    Aaron Marshall
    Participant

    I think one of the problems with the Columbus casino–other than the location forced upon them by the Wolfe family and the downtown boys–is that it is totally charmless and cookie-cutter. There is nothing distinctive about it whatsoever.
    I also think that the racino at Scioto Downs is eating their lunch in terms of slot play. The slot monkeys like high payout rates and freebie giveaways.
    Scioto Downs gives it to them, Hollywood doesn’t.
    In Ohio, the racinos are doing well especially considering what their investment was to get into the game compared to the four casinos.

    #1034004

    joev
    Participant

    The biggest problem with the Columbus casino is that it’s a casino. I am incredibly thankful that it is where it is, since state law requires Columbus has one.

    #1034014
    Walker Evans
    Walker Evans
    Keymaster

    I think one of the problems with the Columbus casino–other than the location forced upon them by the Wolfe family and the downtown boys–is that it is totally charmless and cookie-cutter. There is nothing distinctive about it whatsoever.

    The charmless cookie-cutter format was set prior to the relocation. It wouldn’t have looked any different if it were placed in the Arena District.

    I also think that the racino at Scioto Downs is eating their lunch in terms of slot play. The slot monkeys like high payout rates and freebie giveaways.

    So it sounds like Scioto Downs does well regardless of being the same kind of cookie-cutter charmless slot-machine warehouse style of venue. How does that work that it hurts one place, but doesn’t hurt the other?

    I mean… I can’t tell them apart… can you?

    #1034020
    Jason Powell
    Jason Powell
    Participant

    This is news?

    The casino is responsible for a new fast food chicken joint on W Broad, so, there is that. Sounds like the ripple effect may finally be picking up steam. ;P

    #1034025
    spfld_expat
    spfld_expat
    Participant

    This is news?

    The casino is responsible for a new fast food FAST CASUAL chicken joint on W Broad, so, there is that. Sounds like the ripple effect may finally be picking up steam. ;P

    ftfy

    #1034026

    gramarye
    Participant

    My mother used to describe casino gambling as a “tax on innumeracy.”

    At least Columbus managed to avoid having to lose truly premium land to one, though.

    #1034028

    Aaron Marshall
    Participant

    Because they are so similar you have to give people a better gambling experience.
    Scioto Downs has higher payouts, freebies and know their market (south side Columbus). They have, for example, country music bands playing quite often.
    People on the south side have a 50 year history of going to Scioto Downs. It’s a better location in a sense because of that.
    It also has to do with what your upfront costs were to get in the market. Hollywood has significantly higher sunk costs.

    #1034030
    Walker Evans
    Walker Evans
    Keymaster

    Because they are so similar you have to give people a better gambling experience.

    Wait, are we still talking about whether or not casinos have a positive/negative impact on their surrounding neighborhoods, or are we talking about whether or not casinos are making a big enough profit internally?

    #1034035
    Heathercat42
    Heathercat42
    Participant

    This article is nothing we don’t already know or suspect. But when they mention Biloxi in particular, I have more insight on that region because of family living nearby. And they’re right in their thinking for why they’re losing a 2nd gambling spot.

    Now for everywhere that isn’t Vegas or the like…
    New customers, myself included, won’t drive anywhere JUST for the casino…heck, that’s the problem they’re facing in Biloxi and Atlantic City – nobody’s coming JUST for the games, they want amenities, food, swimming pools, hotels, a real ‘destination’ for heading out. Yet if the surrounding area is blighted, underdeveloped, or mentioned in the phrase “I don’t want to go all the way over THERE”, business will continue to suffer.

    People on the south side have a 50 year history of going to Scioto Downs. It’s a better location in a sense because of that.

    That makes sense – Scioto Downs was already a destination, historically speaking. Kinda like Grove City might have been a great spot for a casino if they kept the greyhound track.

    My opinion: in our own back yard for perspective, if say Easton broke the mold and actually built a casino in their little ‘burb, would that actually lower property values there?
    Nat’l Assoc. of Realtors might be stating an unproven estimate based on NIMBYism in the higher-valued areas. For the would-be buyers who say “I wouldn’t want to buy a house near a casino, I’ll lose money”…There were likely a number of reasons that people didn’t want to buy in a particular area already, and property values were low or dropping for those reasons.
    Why else would Hollywood choose the west side were it not for cheap real estate? Sure, making positive fiscal impact in the area is a selling point, and while it would have been immediate if other ‘new’ offerings opened nearby at the same time it is helping change the landscape for the better.

    #1034046

    Aaron Marshall
    Participant

    <div class=”d4p-bbt-quote-title”>Aaron Marshall wrote:</div>
    Because they are so similar you have to give people a better gambling experience.

    Wait, are we still talking about whether or not casinos have a positive/negative impact on their surrounding neighborhoods, or are we talking about whether or not casinos are making a big enough profit internally?

    I was just trying to explain why Scioto Downs is a success and Hollywood is floundering.

    More on topic, I think successful gambling operations can have a slight, marginal positive impact on a community if done right. In the sense of adding more entertainment options–music, food etc–beyond just the gambling as well as limited spinoff jobs. A place for the casino workers to eat lunch, gas station etc.

    Ideally, a casino would be in a vibrant area near other attractions so that it becomes a plus activity. Let’s go to the Clippers game plus hit the casino or dinner plus hit the casino etc.

    Neither gambling operation in town does that and that’s why the positive benefits are minimal to non-existent.

    #1034054

    DTown
    Participant

    Ideally, a casino would be in a vibrant area near other attractions so that it becomes a plus activity. Let’s go to the Clippers game plus hit the casino or dinner plus hit the casino etc.

    Neither gambling operation in town does wants that and that’s why the positive benefits are minimal to non-existent.

    Fixed that.

    #1034056

    Schoolboy
    Participant

    Hollywood is floundering because of…
    A) Location
    B) Very high table minimums
    C) Low payouts
    D) Columbus didn’t want it in the first place aka lack of support

    A B and C alone are reason enough for people like myself who enjoy going to casinos to rarely if ever go there.

    #1034060
    Walker Evans
    Walker Evans
    Keymaster

    Hollywood is floundering because of…
    A) Location
    B) Very high table minimums
    C) Low payouts
    D) Columbus didn’t want it in the first place aka lack of support

    A B and C alone are reason enough for people like myself who enjoy going to casinos to rarely if ever go there.

    If A were changed, but B, C and D were still present, would that make any difference?

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