Friday, December 10, 2004


Have casinos ever been the solution to a depressed area's economic woes?

And that's not a rhetorical question. I think the answer is NO!!, but I'm not sure.

The above-linked article is about Cleveland, and Chicago also wants one (although Chicago is certainly not a depressed area...Daley just wants what he considers free money.

It should be noted that Chicago wants the Casino to be on Block 37 right in the loop. I heard on NPR this morning, but can't find an article, that the City just sold that block for maybe $13MM. It bought it just a few years ago for around $35MM or something. If I can find an article on this, I'll correct these numbers, because I really can't remember what I heard while in the shower this morning. In any event, should this be a scandal-of-epic-proportions in and of itself? Buying some serious prime real estate and in just a few years taking a total fucking bath on it? Nice job, Mr. Mayor.
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