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Could gaming be the cure for Indianapolis’ financial needs?
Maybe.
There are a couple dynamics taking place. First, city officials have to plug a $30 million financial hole that will be here in 2010 when the final phase of the property tax caps kick in. Second, there are two areas that are just ripe for a casino; Union Station and the Motor Speedway.
Union Station already receives a $500,000 subsidy from the city of Indianapolis and is not breaking even financially. And while city officials are cool to the idea of a bar/saloon in Union Station, a casino may be its only hope for survival in this downward economy.
Second, at a recent meeting of the City-County Council’s Metropolitan Development Committee plans were presented to develop portions of Speedway which included a possible future casino as part of the racing experience. Councilors did not seem too excited about the casino idea, but the Committee did approve rezoning which could lead to a casino being established in Speedway.
I frankly have never understood why there isn’t a casino in the Capitol City. As a city that prides itself on tourism, I’d much rather have those dollars pay for city services than increased taxes. Maybe in these tough economic times it’s time to have that discussion again.
Place your bets.
