Reliquum est, silentium
posted by C. Briem at Monday, November 15, 2010
This is a typo right? In its first 12 months of operation, the casino generated just $228 in revenue - compared to state projections of $362 million and company forecasts of $428 million.It should be 228 million I think. They didn't do quite so bad as have the revenue of a lemonade stand
Forget that, and the "Expectations were never rational" part.The more interesting thing is that the article implies that Barden and the state projected revenues including table games right from the get-go, despite no table games were approved in the original law. Huh? Underwiting never noticed this? Oh wait, there's a national freeze on foreclosures because some robot apparently dumber than Rosie the Robot Maid on the Jetsons was doing the underwriting . . .
Anticipating table games would be called 'rational expections' and Lucas won a nobel prize in economics for it.
I don't know anybody who didn't expect table games. It was pretty clear that the slots-only casino was just a foot in the door.
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