This item from Eric Wittenberg’s blog offers some food for thought in the current Gettysburg casino controversy. When one of these operations opened in Pittsburgh, the owners predicted the place would rake in over $420 million in the first year. Well, it’s been a year, and the actual revenue has been about half that. But, hey, they were only off by 50%.
Here’s a tip, folks. When you’re trying to decide whether something is a good idea, the most objective source of information is generally not the guy who stands to profit from it.
This seems like such an obvious point. You’d never buy a used car just because the salesman assured you it was a great deal, would you?
Then why in the world, when a development project threatens some historic resource, would you simply assume that the project’s backers are telling you the gospel truth when they promise that you’ll be wading up to your armpits in milk and honey?