Before you vote, ask about the money

T here has been much clucking over last Sunday's Morning Call story about certain tax assessments in Monroe County .

[Naz]

Tax assessments are based on an appraisal of the real estate at the location, not revenue that the business may or may not bring in. I don't think there is anything wrong with the assessment of the Mount Airy property, however the hollywood casino valued at 280 million sounds grossly overstated if you ask me.

[Watchdog]

Property values are based upon the fair market value of the property which can be determined either by sale price or in this case construction costs.

Therefore the Mt. Airy casino is grossly undervalued. Since the Sands supposedly will have spent $700 million for their project, the appraisal should be in that same ballpark.

The Sands however appears to be headed for an underperforming asset just like Mt. Airy as both casinos are now the lowest performing casinos in the state. Revenue/day/slot for both casinos are under $200 vs. their projections of $255 with the Sands projection based upon 5000 machines.

Doesn't look like the Sands will need to add the additional machines and they may as well convert the hotel to senior citizen condos to develop a built in customer base.

[eye hope]

We were sold a bill of goods by Rendell and other criminals. May the casinos go broke, oh wait, if that happens Obama will use my taxes to bail them out. Looks like we are screwed either way.

[conservative]

I'm sorry I thought this was an ACORN voter registration site for nobama. My bad.

[Johnny -The See- ILDee]

eye hope wrote:

We were sold a bill of goods by Rendell and other criminals. May the casinos go broke, oh wait, if that happens Obama will use my taxes to bail them out. Looks like we are screwed either way.

The British were pure angels compared to what we have today. Take a look at the Declaration of Independence---dozens of wildly exaggerated allegations. Compare them to our IRS, DEA, Government by Third World Immigrant/Global Corporation & totally-controlled MSM. Look at our Prison-Industrial Complex and Economy based on needless construction and endless miles of crummy malls and strip malls. Gaze upon our slums and unsafe streets even in small towns. Consider our '50 States of Shame'.

The "Founding Fathers"---say what?

[jmo]

Ask about the money before you vote, please!!! Doesn't matter...they're all crooks in it for the money.

[Easy Louie Enterprises]

Hey, I bought those politicians fair and square.

Ya gotta problem with that.

.

[Gary]

Maybe Gov. Stupid isn't so stupid after all. He's really Gov. Crook.

[Buck 298]

Johnny -The See- ILDee wrote:

<quoted text>
The British were pure angels compared to what we have today. Take a look at the Declaration of Independence---dozens of wildly exaggerated allegations. Compare them to our IRS, DEA, Government by&#65279; Third World Immigrant/Global Corporation & totally-controlled MSM. Look at our Prison-Industrial Complex and Economy based on needless construction and endless miles of crummy malls and strip malls. Gaze upon our slums and unsafe streets even in small towns. Consider our '50 States of Shame'.
The "Founding Fathers"---say what?

We got the Gov't we deserve. IMO, if people (voters) would take their role seriously, Rendell would be tarred and feathered, a fate he truely deservse.

[Observer]

Gary wrote:

Maybe Gov. Stupid isn't so stupid after all. He's really Gov. Crook.

I came to this conclusion 4-5 years ago.

.

[Smoke Em If You Got Em]

Watchdog wrote:

Property values are based upon the fair market value of the property which can be determined either by sale price or in this case construction costs.
Therefore the Mt. Airy casino is grossly undervalued. Since the Sands supposedly will have spent $700 million for their project, the appraisal should be in that same ballpark.
The Sands however appears to be headed for an underperforming asset just like Mt. Airy as both casinos are now the lowest performing casinos in the state. Revenue/day/slot for both casinos are under $200 vs. their projections of $255 with the Sands projection based upon 5000 machines.
Doesn't look like the Sands will need to add the additional machines and they may as well convert the hotel to senior citizen condos to develop a built in customer base.

The win per machine isn't a good analysis in my opinion since each casino has different #'s of machines. A better indicator is the Gross Terminal Revenue. For the last week posted on the gaming board's website, Sands gross terminal revenue was $4.181 million. That puts the Sands at #5 out of 8 in terms of GTR.

[See You Next Tuesday]

Let's face it - nowadays, NO POLITICIAN has the public's interest in mind. They care only for themselves and their cronies. Every party is guilty, but the 2-headed Repuglocrat beast is the main offender.

They are all in it for the loot; it starts local, and goes all the way to Washington D.C.

Look up lobbyists some time & realize that money buys laws and favoritism. The US citizens are screwed from start to finish.

[Watchdog]

I think being #5/8 in gross terminal revenue is no where near where the Sands intended to be positioned and would indicate that the 2000 planned additional machines for later this year are not needed at this site.

This will save them money and they can use that space for the table games they planned on when they threw their hat into the ring for Pa. gaming.

They are running about 25-30% behind their projections for weekly gross revenue and this isn't going to make Sheldon too happy!!

[Mick Jagger]

If this state were any more corrupt we'd need a name change to Massachusetts.

[Common Sense]

Unfortunately, some really do, but the public is so cynical, I'm not sure they would recognize those elected officials who genuinely care about trying to do what is best for all of us.

See You Next Tuesday wrote:

Let's face it - nowadays, NO POLITICIAN has the public's interest in mind. They care only for themselves and their cronies. Every party is guilty, but the 2-headed Repuglocrat beast is the main offender.
They are all in it for the loot; it starts local, and goes all the way to Washington D.C.
Look up lobbyists some time & realize that money buys laws and favoritism. The US citizens are screwed from start to finish.

[Gary]

Common Sense wrote:

Unfortunately, some really do, but the public is so cynical, I'm not sure they would recognize those elected officials who genuinely care about trying to do what is best for all of us.<quoted text>

Every once in a while when one of them comes along, they meet Sarah Palin's fate.
Politics is a dirty business.

[Common Sense]

Gary,
I agree it's a dirty business, but it's that way because we the people allow it. If we truly held elected officials accountable by voting them out when they fail us, then maybe decent people would be more willing to get involved. And, even if someone is a decent law abiding citizen who gets elected, many will try their best to discredit them no matter what. It's a discouraging conundrum.

Gary wrote:

<quoted text>Every once in a while when one of them comes along, they meet Sarah Palin's fate.
Politics is a dirty business.

[Gary]

Common Sense wrote:

Gary,
I agree it's a dirty business, but it's that way because we the people allow it. If we truly held elected officials accountable by voting them out when they fail us, then maybe decent people would be more willing to get involved. And, even if someone is a decent law abiding citizen who gets elected, many will try their best to discredit them no matter what. It's a discouraging conundrum.<quoted text>

I believe it's mostly because, like David Letterman, these people have access to the media.
Also since the mid 60's American's morals have gone to Hell.