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whole story. Unlike those many companies with few public interactions, casinos are founded on public involvement in the communities where their customers come to play, eat, shop, relax and be entertained. The success of their operations depends on personal relationships. AGA CEO/President Bill Miller stresses that building solid corporate partnerships fosters industry growth and continued public acceptance. Read the second part of my interview with Bill in this issue.
Think back to 2005 for a graphic and poignant example. Hurricane Katrina had destroyed much of Mississippi’s and Louisiana’s Gulf Coast gaming industry. Harrah’s, MGM and several others were
regulation, presumably by Congress. Coincidentally, some of those politicians beating this drum the loudest have never run a business, jurisdiction or organization. To be fair, their argument has some merit. I too ask why Norman and I pay hefty New Jersey and federal taxes while many organizations paid nothing. I have no answers. Data following the passage of the restructured 2017 US tax
laws revealed that 60 Fortune 500 companies paid no federal taxes on $79 billion in corporate income last year. The 30 most profitable, including global giants like Amazon, Delta Airlines, Chevron and General Motors, not only paid no corporate taxes, but also received federal rebates on some profits. Frontrunners and decades-long career politicians like former Vice President Joe Biden and Vermont Senator Bernie Sanders, plus Massachusetts Senator Elizabeth Warren – perhaps the loudest voice – cried foul. I researched several sources and determined that not one commercial gaming company is listed among those top 30. Tribal gaming is excluded because of different sovereignty laws. Generalizing about corporate conduct never tells the
great corporate partners who continued paying their employees for months and attempted to relocate many. They all reopened as quickly as possible and put tens of thousands back to work.
Other scenarios, stemming from natural disasters and economic blight, come to mind. Corporations incorporate people and relationships, pensions and progress. To paint the vast majority as only greedy money-grabbers is dishonest and unfair. Plenty of gaming properties and suppliers are paying millions, not only in federal taxes, but also on their state and local levels. Just ask Penn National’s 25,000-plus employees, or
hundreds of thousands of others who work at US casinos, what they think about their health coverage, job hours, working conditions and future retirement benefits. Most would confirm the benefits gaming has brought to their lives. So, to Liz, Bernie, Joe and others, I say this. Don’t
generalize about some corporations to punish many. It isn’t smart. Just think… the voting public could begin stereotyping you politicians as partisan, self-serving and corrupt. Then what will they do?
GALAXY GAMING GENTING POKER MACAU EU AFRICA SIDE BETS August 2019
FOR THE GAMING PROFESSIONAL WORLDWIDE
10 AUGUST 2019
Anya Hess/Adobe Stock
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