Is Rhode Island ” ‘Sin’-cerely” Yours?
It is said (don’t ask me by who) that a journalist is good when they get you thinking – whether you agree with them or not.
My hat’s off to Russell Moore. Today I was wondering what to post – and Russell stoked the fire in me. A Great article just posted by on GoLocalProv lists some great eye-opening facts for those of you living in Rhode Island, whether you are anti-gambling or pro-gambling in the Ocean State. His post deals with “sin” taxes, their revenue, and it’s implications to Rhode Island.
According to the The Bloomberg News study on state revenue concerning “sin” taxes, they are defined as “…any revenue derived from “tobacco, alcohol and pari-mutuels or betting, provided by the State Government Tax Collections survey of the U.S. Census Bureau.”
He points out the following:
- An analysis by Bloomberg News this week found that Rhode Island currently ranks second in the nation with respect to reliance on “sin” taxes
- Roughly 5.1 percent of the (RI) state’s budget is provided by those sources.
- The Bloomberg News study survey did not take into consideration revenue derived from other gaming such as slot machines or table games! (Mr. Moore assumes Rhody would be #1 if this was added to pot.)
Yeah, Go Rhody!
Because of these findings, Mr. Moore suggests “…If we’re going to compete with Massachusett’s and Connecticut’s casinos, we [need] to do everything they do—and better.”
This is exactly what I alluded to in my post on 6/19, “What Does Twin River Hope to Accomplish?”
If you go read the post, you will find the following – “With Table games, TR will surely add a new pool of gamblers. And now that the locals don’t have a need to travel to CT (although, it’s not really that far), Twin River will add to their own group of regulars. But, to truly compete for the big players that keep casinos afloat these days, they will have to expand further. Amenities – shopping, onsite hotel(s), spa, clubs, restaurants – must be added to compete, or it’s just a “locals” casino, not a destination.” However, Mr. Moore takes his thoughts far beyond, where no Rhode Islander has gone before!
Please take some time to read Russell Moore’s post. After my usual Wednesday post – New England’s Weekend Entertainment Guide – my thoughts will appear in Part 2 concerning Mr. Moore’s article Thursday.
No, there won’t be a quiz later.
That’s all for now.