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SUMMARY OF ECONOMIC BENEFITS of a limited number of CASINO-ANCHORED DESTINATION RESORTS*
* For example, a constitutional amendment could propose 12 or so casino licenses to be awarded in Texas (based on a competitive proposal process.)
OR:
WHY 12 CASINOS? Look at what Texas’ grateful neighbors are doing: Louisiana (population 4.5 million): Louisiana has 13 dockside riverboat casinos, one huge land-based casino in New Orleans’ French Quarter/ Convention Center District, three Native American casinos, three racetrack casinos/video lottery terminals/VLT “racinos” and approximately 140 “truck stop” slot-machine/VLT casinos. Texans and their money are the primary support system for Louisiana’s thriving casino industry. [In other words, for some 15 years Texas has been exporting all of the benefits to a very grateful Louisiana (new tax revenues, tens of thousands of new jobs, billions of dollars in economic development, tourism expansion, etc.). Mississippi (population 2.9 million): Mississippi has 28 riverboat casinos, one mega casino on a Native American reservation, and several more under development. Texans represent a major part of Mississippi’s out-of-state visitors to their casino-anchored development projects. New Mexico (population 2 million): New Mexico currently attracts mostly Texans to its 15 Native American casinos and five racetrack casinos, with several more casinos under development. Oklahoma (population 3.4 million): Oklahoma currently attracts mostly Texans to its 22 Native American casinos, three of which are near the Texas border. Several more casino projects are under development. Texas is ranked the tenth fastest growing state and in the next twenty years, Texas’ population is expected to increase by over 5 million people. Potential Distribution of Casino Licenses - A constituional amendment could allow planned, casino-anchored development projects to be distributed as follows: -- Licenses to existing racetracks (with a provision that requires the racetracks to increase purses and other funding to support the racing industry), -- Licenses allocated to Native American reservations (with a provision that the tribal casinos contribute to Texas public education programs, via a state gaming compact) -- Other casino licenses allocated to counties, based upon population and other considerations. These licenses would require an intense competitive proposal process, which would assure that the casino-anchored development projects brought huge economic development, job creation and substantial new revenues to the host city and county. A couple of these licenses could be awarded, at the discretion of the new Texas Gaming Commission, for special consideration in appropriate counties that are in desperate need of economic development and job creation and/or present unique historic preservation opportunities. A couple of these licenses could be awarded to Gulf Coast counties that have special out-of-state tourism marketing prospects, which would be enhanced by a world-class, casino-anchored destination resort project.
12 Casinos allow participation by most regions in Texas – The casino licenses should be distributed fairly around the state. This would allow most regions of the state to benefit directly from the “economic engine” generated by casino-anchored development projects. (The video lottery terminals/VLT proposals or just a few full casinos here and there would not allow everyone in Texas to benefit.)
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