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Issue 1262
June 27, 2011
(Prior Story) Business ArTicle 6025 (Next Story)
Sponsored by Bay Area Chamber of Commerce
Ex-Detroit Lions Running Back Billy Sims: 7 Casino Plan is Good Business!
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Billy Sims, onetime Detroit Lions great at running back, is an investor in a new state casino project.
"If something works, why not expand it?" asks Billy Sims, onetime Detroit Lion great.
Mr. Sims is an investor in the C-My-Casino Inc./Michigan Is Yours, plan to add new casinos in Saginaw and six other Michigan cities.
"Our idea is to help the state, find new investment," he said, noting that about 15 business types have joined him in the plan that has been developed over many years.
"Originally Detroit was not supposed to be the only city where gambling was to be legalized," said Mr. Sims in a telephone interview. "It was just supposed to be the first city with gambling."
The campaign aiming to get more than 300,000 signatures to put the issue on the November 2012 ballot is gaining steam and has the money to complete the petitions, he said.
Opposition to the plan by other casinos would be in violation of both state law and federal anti-trust regulations, said Mr. Sims.
"America is built on competition and there should be no monopolies," he added. "Besides, casino money can't legally be used for political purposes."
Michigan is the fifth largest gaming state in the nation, according to revenues, he said. "What's wrong with expanding?"
The Michigan Is Yours ballot proposal would authorize new corporate casinos in Detroit, Port Huron, Muskegon, Benton Harbor, Mt. Clemens, Grand Rapids and Lansing.
Once voters approve the amendment to the Michigan constitution, the casinos would be locked in to the distribution of revenues promised in the petition. These include a wagering tax on 19 percent on "adjusted gross receipts," (defined by law), with 38 percent of the total going toward the Michigan Promise Grant educational scholarship fund, 20 percent to the Pure Michigan national advertising campaign, 20 percent to local units of government, 7 percent to counties where the casinos are located, and the remainder to the State School Aid Fund.
The casinos would be regulated by the Michigan Gaming Control Board, with legislative oversight, said Mr. Sims. ###
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"The BUZZ" - Read Feedback From Readers! |
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WALLWE Says:
On June 27, 2011
at 08:51 AM
GAMBLING AND MEDICAL MARIJUANA, EXPANSION OF LIQUOR SERVICE HOURS. REDUCTION OF SCHOOL FUNDING IS REALITY OF MICHIGAN.. SOUNDS TO ME AS IF HELLS HALF MILE IS ABOUT TO EXPAND ONCE AGAIN ... DOESN'T ANYONE ENJOY A DAY AT THE BEACH WITH THE KIDS..ANYMORE???
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Dave Rogers |
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