Chủ Nhật, 16 tháng 6, 2013

Regarding "Saipan"s Gambling Dollars"

IN your June 12th edition, Phillip Mendiola-Long of Tinian wrote a very interesting letter relating to the financial affects of casino gambling on Saipan, and specifically relative to the financial impact on the Retirement Fund.  As we all know, at least those of us who read the local newspapers, much has been written on this subject for years, but from my perspective, this was one of the very good contributions, getting right down to the “nitty-gritty” of the issue of the dollar impact. I was impressed.


That said, I would like to make two salient points:


1) Does casino gambling need to make up EVERY dollar required to adequately fund Retirement? Isn’t something better than nothing?


2) There is no mention of the “rippling” effect of casino gambling on Saipan, and the additional revenues and jobs generated.


ANYONE who is alive and exhibiting a pulse, knows the economy here is in big trouble! When the CNMI lost the garment industry, and JAL, it was a major double “tap,” and neither of those sources of income has been replaced.


If it makes anyone feel better, we are not alone. Many states in the U.S. are experiencing similar economic shortfalls. Some cities have even declared bankruptcy. And, to boot, many of these states/cities are attempting to replace needed funds with casino gambling.


Miami is in the process of building a billion-dollar casino near the airport. So is New York City. So are the states of Pennsylvania, and Ohio. And, you need look no further than Manila, which has built its third casino and now has a thriving economy! These are economic issues that are currently major concerns in almost all contemporary societies.


There is an old saying: “You cannot give from empty pockets”! Our government just does not have the dollars to adequately fund Retirement. Neither do they have the money to fund education adequately, or the hospital. Nor do they pay their electric bills.


Where are the needed funds going to come from? Tourism is up significantly, thanks to Tan Holdings, and the charter flights coming here weekly from China. It should be obvious to everyone, that that is just not enough!


I just returned to Saipan after four days in Singapore, and four days in Hong Kong. The casino in Singapore is like no other casino I have ever been in. And, it is packed every day and every evening. Free entry to those with foreign passports; $100 entry fee for “locals.”


Be advised that Singapore is now considered to be the wealthiest country in the world. The per capita average annual income now exceeds $50,000. Not too long ago, it was $400/per person/year! And that beats out Dubai, the U.S. and Norway.


While in Hong Kong, I made two trips to Macau on a ferry that cost $50 round-trip (70 minutes one way). The ferries were packed both on a Saturday (no surprise) and the following Monday (shocking)! Buses meet the ferries and take folks to the casino of their choice…at no charge!


We live in an age wherein our world is engulfed in turmoil, and economic depression. People are searching for venues to “escape,” and seem to find it in casinos. One just has to see it to believe it!


We already have gambling here. Having one or more casinos is not an invasion by Satan. It will not destroy the cultural life of these islands. Additionally, it is unfair to compare Saipan to Tinian and/or Rota. There is so much more here to attract tourism.


Additionally, to address item #2: a casino will attract more tourists, who will spend more money on our island. They will fill the existing hotel rooms, and create a need for more rooms, eat in our restaurants, purchase in our shops, and play golf on our beautiful courses. And, most importantly, will provide jobs, job, jobs!


And, to those who question where the folks will come from to enjoy our casinos, how about Russia, Japan, Korea, China, and yes, even Guam?


It’s no fun being poor. Ask anyone who has had money, and subsequently lost it! In today’s vernacular: “it sucks”!


To expect this government to fund Retirement, fund health care (desperately needed), and to fund education without additional funds, is lunacy! It cannot be done. The money is just not there!


My sense, listening to many folks articulating their views on this touchy issue, is that it is less an issue of having a casino, but more an issue of how the government will meddle in it.


If a professional (a Donald Trump, or a Steve Wynn, for example) in this arena has an interest, give them some land, and stand back! There are no “commissioners overseeing Tan Holdings or Bridge Capital. They are independent businesses that remain successful here, and pay their BGRT every month.


If folks here feel that government is going to “line their pockets” then it will absolutely fail. Government needs to find the “right” people to come in here and do this the way it must be done to succeed!


Believe me, it may not produce billions, but it will help an ailing economy recover and contribute to a better way of life here!


Of course, if you continue to delight in the fact that almost half of the population on this island is on Medicaid, and thousands are on food stamps, then vote/argue for the “status quo”! But, if you want a better way of life, and a higher living standard for all, then you must open your minds to doing things differently then we have been doing them! The “old” way is just not working any longer!


I wish we could expose you all to what has been accomplished with casino gambling in Singapore, Macau, Foxwoods (Connecticut), Biloxi, Mississippi (where it has built new schools, brought in new teachers, built new roads, and raised the standard of living in that state, from the lowest echelons, to the very top.


Two choices: continue as an impoverished nation, or come into the 21st century and be self-sufficient! We must create a viable tax base, and, most importantly, we must create jobs! As our young folks become educated, both here and in the states, we must create an environment that they want to either remain in, or return to. There must be jobs for them with “fair” compensation, and opportunity for advancement.


Believe me, an impoverished state will not accomplish that!


As both a business owner here and a private citizen, I opt for the latter!



Regarding "Saipan"s Gambling Dollars"

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