The Route 66 town of Tucumcari, N.M., again may have become a major candidate for a horse-racing and casino complex, reported KFDA-TV in Amarillo, Texas.
The station’s report:
Color me skeptical for several reasons.
— Raton, N.M., is almost guaranteed to file a lawsuit to prevent gaming and racing licenses from being newly issued by the state to Tucumcari. Raton was initially awarded the licenses, but they have been or will be revoked. That town is probably going to fight back.
— The economic benefits of casinos are inconclusive, at best. That’s especially the case when the racino’s core draw — horse racing — is stuck in a deep decline. And there certainly are disadvantages to bringing in a casino, such as an increase in crime.
— A recent investigative report by the New York Times showed the horse-racing industry remains “mired in a culture of drugs and lax regulation and a fatal breakdown rate that remains far worse than in most of the world.” And the state that was the worst offender was New Mexico.
As I said at the time:
Many folks in Tucumcari, which has seen a 10 percent drop in population that past 10 years, view a racino as a sort of silver bullet for jobs and the local economy. […]
[T]his apparently poor oversight by the state would be the last straw for me. Barring a strong effort for reform, I would probably say “thanks, but no thanks” if the state of New Mexico offered a racino license.
Surely there are better — and more principled — ways to boost Tucumcari’s economy.
I happen to agree with you on the economic impact of gambling. When the casinos were built in Alton and East St. Louis, they were touted as being the economic saviors of those communities. At best, they’ve slowed their declines.