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Sharon Harris reviews 2008 and apportions cheers and jeers to those that deserve ’em.
Young people believe they can change and improve the world. I remember my own teenage idealism, frequently arguing with my father. He had long since put aside romantic dreams, instead focusing on his business and providing a stable family environment.
As we age, uncontrollable circumstances are frequently beyond our grasp. However, events also result due to bad decisions, incompetence and greed. Sadly, in the end, we all suffer. Gaming has not escaped the drastic impact of both domestic and international conditions this year.
To celebrate 2008, I offer – in no particular order – a gaming cheers and jeers list:
Cheers to those who grabbed the American Dream and still aim high. Hundreds of casino executives began as waiters, dealers or secretaries, and worked hard to move up. Many remember their roots, agreeing to lower salaries and bonuses in 2009.
In 1989, gaming icon Steve Wynn’s Mirage introduced uniqueness in Las Vegas. Despite a sagging economy and the largest airport passenger dip in since 2001and 2002, he boldly opened the Encore, his elegant counterpart to the Wynn resort on the Strip, in December 2008.
While giants MGM Mirage and Harrah’s let 5,000 people go in 2008, Wynn created 5,000 jobs from 100,000 applicants. He promises to lower room prices before eliminating positions.
Jeers to the mainstream media, who demonstrated documented blatant bias during the election season. Quality American journalism is dying a painful death.
Many of these same losers are now trivializing the gaming industry’s economic struggles, ignoring that gaming affects potentially millions more than dozens of other industries getting bailed out.
Cheers to casinos for being good citizens. In early December, Harrah’s four Atlantic City properties hosted 25 wounded Iraq War veterans for three days. Officials and executives wined and dined the soldiers.
For years, the industry’s leaders have also addressed compulsive gambling, educational and community needs in those jurisdictions where they operate.
Jeers to government agencies when counterproductive. I like New Jersey’s regulators, but they recently blew it by imposing a record $157,500 fine against Bally’s Atlantic City for violating underage gambling laws. A 20-year-old had played on an 18-day gambling binge.
How tough is it to distinguish 20 from 21? As Atlantic City casino employment dropped below 40,000 – a 20-year low – how many salaries could $157,500 pay?
Cheers to the always evolving American political system, where democracy’s orderly strength stops people from rioting and rampaging through the streets if their chosen candidate loses. The country accepts the winner for its future good.
I know numerous Barack Obama voters. I also know plenty of John McCain voters who still dislike Obama, but will hope for his success.
Jeers to the American political system for not requiring that people do more than breathe, have no criminal record and be old enough to vote. With such high stakes, electing someone who is “an awesome dude” or “the right religion, ethnicity, age, color, etc” is no criteria. If we must know the basics of driving a car, shouldn’t voters at least know something about their candidates’ views and plans?
In the immortal words of American Gaming Association President Frank Fahrenkopf Jr’s father, Frank Sr, “vote for the guy, not the party, since there are ‘turkeys’ on both sides”.
Cheers to higher education all over the US for making gaming a part of the community. Universities in gaming states like Nevada, New Jersey, Louisiana and Mississippi have committed resources to creating college curriculum programs that teach gaming courses in preparation for future careers.
Jeers to those Wall Street thieves and sleazy politicians whose greed and negligence have devastated the American economy for years. I would love to see them serve long prison sentences.
Plunging casino stock prices have risked future solvency. Harrah’s Chairman Gary Loveman spoke at the G2E “State of the Industry” seminar, lamenting that the industry created a public expectation of grandeur. The megaresort era has screeched to a halt.
As Loveman said, “A billion dollars really is a lot of money”. Don’t we all know it.
