“Casino Gambling Industry to Seek Financial Bailout Package?”
By Lee Rockwell on November 18, 2008, Online Casino Sphere
CAPITOL HILL — As the Big 3 Auto-Makers ask for a $25 billion dollar financial bailout, gaming analysts are discussing a possible bailout for the casinos. Yes, that’s right, a bailout package for the casino gambling industry in Las Vegas, Mississippi, and New Jersey.
Barney Frank, a long-time supporter of internet gambling, could be on-board if the Secretary of the Treasury, Henry Paulson, decides their is a strong need to bailout failing casinos.
Barney Frank was the primary author of the recent $700 billion bailout package signed into law by President George W. Bush back in early October. He is a staunch supporter of casino gambling, poker, and other such betting facilities.
As you know, casinos in Las Vegas, the Gulf Coast, and Atlantic City have recently reported their biggest losses ever. Many of the casinos along the Jersey Shore in Atlantic City are nearing collapse.
“If the casino gambling industry were to fail in Las Vegas or Atlantic City, the local economies in these areas would see catastrophic effects”, says Steve Horowitz, a legal expert and long-time gaming historian.
