August 23, 2006
"The press releases and blogs of the opponents and supporters of a proposed casino to be put up by Harrah's and the Narragansett Indian Tribe are about as far apart as it is possible to be. Casino supporters are issuing statements that if it is built, taxes will be sharply reduced and the economy will improve. Opponents are issuing statements that if it is built, taxes will go up and both Lincoln Park and Newport Grand will go out of business.
A thoughtful analysis of the casino's economic possibilities indicates that both sides may be wrong. From analysis of the partial data available, the actual impact of a Harrah's-Narragansett Indian Tribe casino, proposed for West Warwick, could range from somewhat favorable to somewhat harmful. A more accurate analysis would need information not currently available from either side.
Right now, about 85 percent of the customers at Lincoln Park and 80 percent at Newport Grand are from Rhode Island. Gambling wastes money, of course, but at least the money stays in Rhode Island and a little bit comes in from outside.
Only about 30 percent of the customers at Connecticut's Foxwoods and Mohegan Sun are from the Nutmeg State. The other 70 percent bring money into the state in larger volumes than the Connecticut people lose it.
On any given day, there are usually more gamblers from Rhode Island at Foxwoods and Mohegan Sun than at Lincoln Park and Newport Grand. This Rhode Island money leaves the state and never comes back."
Get the Story:
Capers Jones: Economic consequences of the new casino
(The Providence Journal 8/23)
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