Comments on: Casino economy

Casino economy

Skeptic — Fri, 08 Jun 2012 11:21:33 -0800

The Las Vegas Sands Corporation, headed by multibillionaire and notorious supporter of right-wing causes Sheldon Adelson, is considering building an enormous gambling resort in crisis-stricken Spain: Euro Vegas

Despite Adelson's demands for specific exemptions from Spain's tax, employment, immigration, environmental, gambling and smoking regulations, his company's interest has unleashed an unseemly scramble by the leaders of Spain's various regions. So far, the Madrid region, currently run by Adelson's political soulmate Esperanza Aguirre (aka the Leaderess) appears to narrowly lead Catalonia, well in front of a few dark horses. Some people wonder whether Las Vegas is the correct economic model to recover from an imploding real estate bubble. It may still come to nought anyway, since the current financial jitters appear to be giving Adelson a case of cold feet. It wouldn't be the first case that such a scheme vanishes into thin air.

By: Faint of Butt

Faint of Butt — Fri, 08 Jun 2012 11:35:26 -0800

Isn't this what Monaco is for?

By: delmoi

delmoi — Fri, 08 Jun 2012 11:41:44 -0800

Google translates "LA LIDERESA" as "The Leader"

By: Skeptic

Skeptic — Fri, 08 Jun 2012 11:45:04 -0800

Google translates "LA LIDERESA" as "The Leader" Google clearly doesn't do sarcasm.

By: The Whelk

The Whelk — Fri, 08 Jun 2012 11:45:22 -0800

Locusts, the lot of them.

By: delmoi

delmoi — Fri, 08 Jun 2012 11:45:54 -0800

Some of them violate existing Spanish laws – such as bans on smoking in casinos, gambling by minors and gambling addicts, and money laundering – and exceptions or changes to the laws would require parliamentary approval. Gambling by minors? Is he planning on having kids at this casino?

By: notyou

notyou — Fri, 08 Jun 2012 11:52:59 -0800

This thing is faux Monaco for the masses, Faint of Butt. It'll be about the size of four or five or ten Monacos:

The numbers are certainly eye-popping. LVS would invest €6 billion in a first phase to build four hotel strips—eventually reaching 12—as well as casinos, shops, restaurants, golf courses and convention centres. LVS says the project could create 260,000 indirect and direct jobs, enough for nearly half the unemployed in Madrid.

For comparison, Monaco attracted ~270,000 visitors in 2010, a fair number of whom probably drawn by the Cannes film festival (just up the beach a ways) and the GP, which events are generally staged within a few weeks of one another.

By: Sticherbeast

Sticherbeast — Fri, 08 Jun 2012 11:56:56 -0800

Euro Vegas seems like the Broken Window Fallacy writ large. You create a sinkhole for people's money, thereby creating those jobs which are required to run that sinkhole. Yes, I know that Euro Vegas will be different, because people voluntarily go to gambling houses and typically enjoy the experience even when they lose money, but still. Harrumph, I say, harrumph!

By: 2N2222

2N2222 — Fri, 08 Jun 2012 12:12:05 -0800

Rich guy wants to expand his gambling business!

By: Iosephus

Iosephus — Fri, 08 Jun 2012 12:12:57 -0800

Nothing classier than stopping by your neighbour's house while it is on fire and asking if you can have the crockery in exchange for helping a bit with your garden hose. Shesh.

By: Bwithh

Bwithh — Fri, 08 Jun 2012 12:17:01 -0800

hmmm. "Notorious" with a supporting article link could be used in the same way to describe virtually any high profile billionaire or politician in a MeFi post.

By: b1tr0t

b1tr0t — Fri, 08 Jun 2012 12:27:06 -0800

Weird, I thought Snow Crash was set mostly in North America.

By: Skeptic

Skeptic — Fri, 08 Jun 2012 12:49:05 -0800

Gambling by minors? Is he planning on having kids at this casino? You call them "kids", he calls them "growing profit centers".

By: dr_dank

dr_dank — Fri, 08 Jun 2012 13:35:58 -0800

Skeptic: Gambling by minors? Is he planning on having kids at this casino? You call them "kids", he calls them "growing profit centers" No joke. Go to the area in Dave & Busters where they keep the ticket games and tell me that those aren't training grounds for the slot & keno players of tomorrow. The flashing lights, sounds, etc. All you need is waitresses bringing around complementary shirley temples.

By: Mental Wimp

Mental Wimp — Fri, 08 Jun 2012 14:12:52 -0800

Job Creatorz™!

By: Meatbomb

Meatbomb — Fri, 08 Jun 2012 14:14:17 -0800

It's a trap!

By: bitteroldman

bitteroldman — Fri, 08 Jun 2012 14:16:00 -0800

No joke. Go to the area in Dave & Busters where they keep the ticket games and tell me that those aren't training grounds for the slot & keno players of tomorrow. The flashing lights, sounds, etc. All you need is waitresses bringing around complementary shirley temples. Ha, reminds me of the time that we went to Chuck E. Cheese's for the first and hopefully last time. As many of you know, they have these games where you win tickets and then exchange them for prizes. So while my nephew was running around with his friends playing whatever, the wife and I decided to amuse ourselves with the games as well. Before we even knew it, we were yelling and screaming with the lot of them, all for useless tickets. It was insane how insane I became, and I used to brag about how we would go to Vegas and never gamble. Eventually I stepped back, looked at my wife in astonishment, refusing to believe my prior transformation. I fell into the trap, just like all those who I looked down upon in the past. Then I looked at all those kids, and thought to myself how this was like Vegas for kids. It seemed so innocent, with that mouse mascot and pizza and family-focused entertainment. But really, what was the difference?

By: Mayor Curley

Mayor Curley — Fri, 08 Jun 2012 14:27:15 -0800

It seemed so innocent, with that mouse mascot and pizza and family-focused entertainment. But really, what was the difference? Hookers. I hope.

By: Nelson

Nelson — Fri, 08 Jun 2012 15:59:07 -0800

In related news, the Las Vegas Sands Corporation is under investigation for, among other things, considering paying a $300 million bribe to an official in Beijing to clear the way for their business in Macao. Steve Jacobs, the former head of Sands / Macao, was fired and soon after a bunch of very shady emails have fallen into the hands of the SEC and various newspapers.

By: delmoi

delmoi — Fri, 08 Jun 2012 18:50:18 -0800

Hookers. I hope.

Don't forget the tweakers selling meth in the lobby. Or so I've read.

By: Goofyy

Goofyy — Fri, 08 Jun 2012 23:04:27 -0800

Spain is the only place I've ever had problems with pick-pockets. And that was a problem every day when I was in Madrid. Oh. I guess that makes it an ideal location to build Euro-Vegas. Minimal training of the riff raf! w00t!

By: srboisvert

srboisvert — Sat, 09 Jun 2012 02:47:39 -0800

There was a similar scramble in the UK a few years back where all the bigger cities were fighting to be one of the cities given an exemption that would let them build a mega casino that would put their respective city 'on the map'. I can only conclude that none of these pro-casino people have ever been to Atlantic City and seen the world class infrastructure that mega-casinos provide for their local communities.

By: WPW

WPW — Sat, 09 Jun 2012 06:19:05 -0800

I wish JG Ballard was around to see this.

By: El Sabor Asiatico

El Sabor Asiatico — Sat, 09 Jun 2012 06:32:35 -0800

"Notorious" with a supporting article link could be used in the same way to describe virtually any high profile billionaire or politician in a MeFi post. Truer words have never been spoken.

By: Orb2069

Orb2069 — Sat, 09 Jun 2012 08:39:22 -0800

"Notorious" with a supporting article link could be used in the same way to describe virtually any high profile billionaire or politician in a MeFi post. Truer words have never been spoken.

"(Replicants) are like any other machine. They're either a benefit or a hazard. If they're a benefit, it's not my problem." - Blade Runner