The Real Odds dot com
Tom Golisano reiterates his opposition to the Buffalo casino.
A downtown casino is a terrible business decision for Buffalo’s economy. Based on the Senecas’ own projections and government filings, the Buffalo Creek Casino will take in $154 million to $188 million from gamblers, mainly living in Buffalo and surrounding suburbs, in the first year alone. That’s money that will not be spent at local businesses. In return, the City of Buffalo would receive only $5 million to $7 million annually in lieu of taxes. What a “deal.”
Furthermore, the money the Senecas take out of our local economy goes to them tax free. They pay no local real estate taxes, no sales taxes and, as a sovereign nation, the Senecas themselves pay no income taxes on monies earned from the casino. How can surrounding businesses compete on a level playing field when the casino can offer all its products and services tax free? They simply can’t.
I tend to listen to billionaires. Incidentally, in his piece, he plugs this website. So, here’s a link to it.
