Monday, February 9, 2009

Rhode Island First State to Bail Out Casinos

"It has become, in the recent parlance applied to bank bailouts, too big to fail"

Zionist penetration
of AmeriKa is complete and its criminal looting and destructive immorality exposed for all to see.

"
The operators are BLB Investors LLC, a partnership that includes Len Wolman and Sol Kerzner, who developed Mohegan Sun in Connecticut and also are the investors in a proposed Mashpee Wampanoag casino in Middleborough. They first missed a debt payment early last year and have received multiple extensions from lenders"

Imagine that: Jewish mobsters receiving extensions from Jewish bankers.


Related:
The Boston Globe is a Mouthpiece For the Jewish Mafia

"R.I. ponders buying out ailing casino" by Eric Moskowitz, Globe Staff | February 5, 2009

LINCOLN, R.I. - Rhode Islanders marveled when the seedy old Lincoln Greyhound Park was transformed by investors into a lavish gambling salon, with a map of the state etched into the terrazzo marble floor and soaring columns fashioned to appear like autumn oaks.

But the legions of new gamblers that were supposed to flock to the glitzy slot parlor, rebranded as Twin River and purchased and renovated at a cost of nearly $700 million, never came.

And now Massachusetts' lying and looting legislators are promising the crap table as a state savior to our budget woes! How typical that Mass. is late to the table.

Its operators cannot meet heavy debt obligations and have defaulted on the terms of their loans. Bankruptcy threatens.

And WHO are those owners again? Kerzner?

So to avoid the risk of a closure and the loss of $250 million the slot machines generate annually for state coffers, the state's politicians are considering ways to keep it open, including a possible purchase - an unprecedented move that would make Rhode Island the first state to own a "racino."

Must all state governments pay off Jewish criminals?

For states, the choice facing Rhode Island starkly illustrates the dangers that accompany the rewards of legalized gambling. Twin River provides Rhode Island's third-largest revenue source, behind only the income and sales taxes. For state officials grappling with huge deficits created by the recession, it has become, in the recent parlance applied to bank bailouts, too big to fail.

"We're so deep into it," said John J. Cullen, a Lincoln resident and longtime critic of expanded gambling who nonetheless sees the logic of a state buyout. "The state has become addicted to the revenue source."

Even if it is a NET LOSER!

Rhode Island's general treasurer, Frank Caprio, first proposed a buyout if Twin River fails to right itself. Other prominent officials have jumped on board, including the speaker of the Rhode Island House, saying it must be considered.

Governor Donald L. Carcieri, a Republican, has retained a national law firm and equity analysts to advise him on how to respond to Twin River's financial crisis. Until the studies are done, Carcieri is withholding judgment, said Amy Kempe, the governor's spokeswoman. She called talk of a state takeover "sheer speculation," but said Carcieri has not ruled it out.

"The state needs to stand ready, if this facility is forced into receivership or bankruptcy," Caprio said in an interview.

Caprio likened the proposal to buying a foreclosed home, not to bailing out a Wall Street bank. The state could conceivably purchase Twin River at a discounted price, perhaps $250 million, and hire its own casino manager, he said.

So WHY isn't the GOVERNMENT BUYING UP YOUR MORTGAGES, America?

What's OK for the JEWISH MOBSTER should be OK for the LAW-ABIDING TAXPAYER, no?

Twin River could remain open, and the state could conceivably collect an even greater percentage of house winnings than the 60 percent it currently receives under state law, he said.

Twin River's owners hope to renegotiate their estimated $525 million in debt, or cut a new deal and pay the state less than its current percentage - something state officials have steadfastly refused to do. If they can't do those things, a sale to the state, bankruptcy filing, reorganization, or a post-failure state takeover are all possibilities, said Patti Doyle, a Twin River spokeswoman.

The idea of a taxpayer-financed bailout or a takeover has some state residents worried.

"The state has plenty of things they can spend their money on, rather than bailing out a semi-casino," said Matt Buteau, 34, of Smithfield, who works for an oil and gas company.

Well, WE KNOW WHY they do it and WHOM they WORK FOR NOW!!!

The Rev. Dr. Donald C. Anderson, executive minister of the Rhode Island State Council of Churches and a gambling opponent, said putting state officials in full control of Twin River could lead to an expansion from the current slot parlor to a full-blown casino with blackjack, craps, and other games.

Catholics are against the sin of gambling? No wonder the Zionist Mafia's papers savage them so often!!!

Of course, the STATE already has its CRIMINAL GAMBLING OPERATION. It's called the LOTTERY!!!!

"There could be temptation here for the state to see expansion of gambling as one way to dig itself out of this hole," Anderson said.

That's Massachusetts right now!

Yet some think it's not a bad idea. "I think it could be a moneymaker in the right hands," said Kerri Maloney, 45, a self-described "day-care mom" from Greenville. Although she does not favor gambling, "if it's in our state, I'd rather we have control over it."

The operators are BLB Investors LLC, a partnership that includes Len Wolman and Sol Kerzner, who developed Mohegan Sun in Connecticut and also are the investors in a proposed Mashpee Wampanoag casino in Middleborough. They first missed a debt payment early last year and have received multiple extensions from lenders.

Chief lender Merrill Lynch Capital Corp. is "continuing discussions with all parties and interests," spokesman Bill Halldin said Sunday, as talks continued.

WTF? Wall Street awash in DRUG and GAMBLING MONEY, huh?

Twin River already won the right from Rhode Island officials to operate 24 hours a day on weekends and holidays, over the objections of Lincoln residents.

Yeah, SO MUCH FOR LOCAL RULE and DEMOCRACY when it comes to CRIMINAL JEWISH INTERESTS!

But local and national economic woes have continued to take a toll. Rhode Island's 10 percent December unemployment rate ranked second among the 50 states.

The gross amount of money gambled rose to about $2 billion last year, but to encourage that higher rate of gambling, Twin River has given away increasing amounts of money in winnings and frequent-gambler rewards programs. That left less than $193 million to be divided among the state, Twin River, and other parties from July through December 2008, down from $215 million in the first half of the year.

Translation: the JEWISH MOBSTERS that own the place STOLE the MONEY!

Think Madoff, folks!

"It's almost like a perfect storm in terms of circumstances forcing the owners to take a hard look at their debt and say, 'We need to take a step back, and we need some assistance,' " said Doyle.

So the STATE QUEUES right up!!

Those who track casino gambling say there is no precedent for a state takeover, though government ownership is the rule in Canada, where the casinos are owned by the provinces but managed by contractors. In 2007, Kansas became the first US state to legalize casino gambling in a Canadian-style fashion, but it has yet to open its first casino, according to the American Gaming Association.

Some academics say state ownership in Rhode Island may be a mistake.

"I think we've got to do whatever we can to help Twin River get out of the situation they're in," short of buying it, said Edward M. Mazze, a professor and former business school dean at the University of Rhode Island. "If [you] thought casinos that were run without the state had an air of gangsterism, just imagine when the state runs it. I mean, this state cannot run itself."

Yeah, JEWISH
GANGSTERS!

Notice how the Jewish Mafia mouthpiece omits that fact?


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Of course, now it is no surprise that Massachusetts' politicians are in favor of casinos here.

See:
Governor Guts State Services

"Casinos, slots back on state agenda; Patrick, DeLeo agree to renew gambling debate" by Matt Viser, Globe Staff | February 3, 2009

It's official: Slot machines and resort casinos are back on the Massachusetts political agenda. Governor Deval Patrick and House Speaker Robert A. DeLeo briefly discussed expanded gambling yesterday during their first weekly leadership meeting since DeLeo, a supporter of gambling, was elevated to his post last week.

DeLeo and Patrick would not disclose details of their discussion, although one aide in the room said casinos took up only several minutes of a 90-minute meeting. But both said they were ready to move forward with a debate.

Yeah, never mind that US VOTERS REJECTED GAMBLING LAST TIME AROUND!

"Whether it can be done by April or May, I'm not so sure," DeLeo told reporters after the meeting. "But I feel there is going to be debate in the House relative to gaming legislation."

Senate President Therese Murray also attended yesterday's meeting, which was held in her office at the State House, but she did not speak with reporters afterward. She has expressed support for casino gambling in the past, and her spokesman reiterated her support yesterday.

While they made no progress on specifics, yesterday's exchange was notable because it represents a turnabout on the issue of gambling since Patrick's proposal to license three resort casinos went down in defeat last year, killed by the House under the leadership of DeLeo's predecessor, former speaker Salvatore F. DiMasi. DiMasi was a staunch gambling opponent.

That lone reason was not enough to support slimy Sal, sorry; the fact is, all the legislators of this state suck.

While the issue is reemerging in 2009 in a friendlier political climate, there are significant differences between Patrick and DeLeo on gambling. Patrick wants to license resort casinos; DeLeo wants to put slot machines at race tracks, acknowledging that has been his parochial interests for years to protect Wonderland Greyhound Park and Suffolk Downs, which are in his district.

Even though the public just voted down dog racing, huh? Those places need to be closed in a year, unless.... "the Legislature could amend or repeal the new law, as they have done with prior initiatives passed by the voters."

WhyTF we even bother voting?

"But the art of compromise is what this building's all about," DeLeo said. Patrick signaled yesterday that he would be willing to discuss installing slot machines at the racetracks as part of a political "horse-trading" process with the Legislature.

"If there is a proposal, and we get to a point where we're doing horse-trading, then I'm sure we'll take that up," Patrick said, when asked whether he would support slots at the racetracks.

Yeah, the GREAT HORSE-TRADING GUVERNOR!!!!

Adding to the sense of momentum is the worsening economy, which has sent Beacon Hill leaders scrambling for new revenues. Patrick has proposed a host of new taxes to plug billion-dollar holes in the Fiscal Year 2009 and 2010 budgets. Casino opponents, sensing the shift in the political dynamics, have begun talking about a referendum question that would delay consideration of the issue until the 2010 election ballot....

Like they will listen to us! They never do!

Time for a DUNK in the HARBOR for ALL OF 'EM!!!!!!!

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Fifty-seven percent of Massachusetts residents favor Patrick renewing his push for casino gambling, according to a State House News poll released yesterday that surveyed 400 registered voters and had a margin of error of 4.8 percent. A Globe poll in December found that 57 percent of Massachusetts residents favor casino gambling, compared with 53 percent who supported it the previous year....

You think I'm believing rigged polls from the PRO-CASINO, PRO-GAMBLING Globe?

Ha-ha-ha-ha!!! I WOULDN'T BET ON IT!!!

If the #'s are true, WHY DID WE REJECT DOG RACING, huh?

Something doesn't make sense and is a stinkin'!!!!

The gambling industry has struggled recently, with declining revenues at the Native American casinos in Connecticut and with the Twin River slot parlor in Rhode Island unable to meet its debt obligations.

Yeah, SAVE THAT for the BACK-END of the piece, you PRO-VICE piece of crap!!

Of course, you KNOW who is behind ALL those GAMBLING HOUSES readers.

Let's see if this article mentions them by name.

"The resort casino idea was a good idea then, it's still a good idea," Patrick said yesterday before adding, "there are some other things we're working on right now that I think are more pressing."

Yeah, I'd say!

Several state lawmakers, backed by politically powerful labor unions, filed a casino bill last month that largely mirror's the legislation Patrick filed last year. In a nod to the declining prospects for gambling revenue, they proposed selling licenses for $225 million each, instead of the $300 million that Patrick had estimated.

"It seems like there will be a lot more discussion on casinos and slots this legislative session," said Representative Martin Walsh, a Dorchester Democrat and one of the sponsors. "I feel comfortable that the speaker is going to allow a good open discussion."

We don't want them here. End of discussion.

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