In just one month (December the first month legalized video gambling went into effect) Metro East gamblers spent 4.5 million dollars on 35 newly legal machines throughout the area. The amount gamblers lost was 400,000. Statewide 91.8 million dollars were played and of that total, 7 million was lost.
Actually 400,000 as a loss on 4.5 million played sounds like pretty good odds, but I am not a gambler so I may have this completely wrong. Taverns and veterans posts and small restaurants look to do pretty well with these video games.
More numbers
The Clayton School District recently voted to cut 1.2 million dollars out of its budget. The cuts will be permanent.
The Miners Institute Theater in Collinsville will have nothing more done to it for at least 3 years, it will, for all intents and purposes, sit idle. At issue is 190,000 dollars in TIF funds the Recreation District would have to prepay in order to return ownership to the Miners Institute Foundation. It's been tough sledding for years and years with the Miners.
The article about the Miner's was poorly written and outdated. There could be something happening soon.
And if Clayton school district is cutting money from its budget, that should speak volumes about the financial issues facing less wealthy districts in the region.
Posted by: Ron | February 05, 2013 at 10:57 AM