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New York, New York, April 29th, 2002 West Side Highway Casino Resort Development The West Side Highway development area lends itself perfectly to one of the fastest growing industries in the state - tourism. And the key to tourism in the Northeast is casino gambling. Foxwoods, the Native American Casino complex in Connecticut generates just in slot machine profits an excess of One Billion Dollars annually. Fully 25% of the slot machine take, $300 Million, goes to the State of Connecticut. In those states whose economies depend primarily on tourism - Florida and Nevada are examples - each tourism dollar turns over seven times. As a result, both Florida and Nevada have no state income tax, no city income tax, no inheritance tax and no gross receipts tax. Tourism doesn't require tax abatements and doesn't disappear when tax breaks run out. There is no greater tourist draw than casino gambling. New York State and New York City allow virtually every conceivable form of gambling except the one form of gambling that draws tourists - casino gambling. By utilizing the West Side Highway development area to build a casino resort, the area would rival the Las Vegas Strip. With access to Broadway and all that New York has to offer, New York City could well become the Tourism Capital of the World in addition to being the Financial Capital of the World. New York could certainly outshine Monte Carlo, London, Las Vegas and Atlantic City by attracting tourists not only nationwide, but from all over the world. Moreover, the creation of this West Side Manhattan gambling resort would certainly deflect the growing attraction of Foxwoods and Turning Stone - Native American resorts that pay zero tax dollars to New York State and New York City. New York is already surrounded with casino gambling in every direction. We already have all the drawbacks gambling produces, but none of the benefits. Lets reject any more of the kind of legislative backroom deals that resulted in Turning Stone. Let's comply with the state constitution rather than circumvent it. Let's put the question of legal and controlled casino gambling before the voters. First, give them the facts. Then, let the people of New York decide for themselves. With a New York City financial crisis looming on the horizon, can we afford our tax dollars going to neighboring states and our Native American friends? |
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