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Saginaw Michigan residents are pushing for gambling changes. It seems that the state is ready for a good gambling initiative and wants to bring in a new casino that would bring 1,500 games to the state. Michigan was hard hit by the recession. It was one of those cities that has just one industry to rely on- car manufacturing. Much of Michigan relied on that to bring in huge revenues. When the auto market crashed, there were few options in terms of replacement industries to work with. It was a lot like the same problems that Las Vegas made. The city was highly reliant on gambling as its sole revenue generating activity. This meant that once that revenue stream was down due to the recession, the city was in trouble. There were few other options to replace gambling for Las Vegas and there are few other options to replace automobile gambling for Michigan. This is why perhaps the city’s officials and residents are both pushing so hard for gambling to take over. They want to bring in gambling and make sure that it is what will bring them to the next level of change in the market. .

If the city is able to go through with the plan for a 1,500 game casino, this could mean a consistent revenue stream of $2 to $3 million every month of operations. This is extra money that then can be fueled into the market and bring true change. Plus the casino will surely bring a good number of jobs to the public in the area. It is a way for everything to turn around that much quicker. If this slots plan goes through there are going to be a lot of people who benefit. Though there are still rules that have to be written and codes that have to be made up, it looks like most parties involved are ready for gambling to come to the city. They want to have access to the millions of dollars available via gambling. There are few other options that can do the same thing or bring in the millions of dollars required for true change to happen.

The question of whether or not to bring slots gambling into the market is heavy on the minds of Saginaw Michigan residents. They are showing a desire to change their economy and many residents see gambling as the most obvious way to bring about the financial revival the city needs. It’s no secret that other cities use gambling to generate money. A good casino can bring in huge dollars in tax revenue. Just look at a city that brings in a slots parlor. They can expect for an addition of a 1,500-game parlor to see a consistent revenue of anywhere from $2 to $3 million per month. (Assuming a mid-sized city.) That money then is used to fund public works programs, education, expanding and other programs. Saginaw residents have heard of the success stories of gambling programs and more and more voters are open to bringing the games to their own markets.

Not only is the money a huge draw, but for most residents it is the promise of jobs that is speaking most clearly to them. The market has been in a recession for the past eighteen months and millions of Americans suffered. The job market still hasn’t returned to what it was prior to the recession. There are few businesses that are able to open the market for jobs up like a good casino or slots parlor. People know this and are pining for changes in the economy. Residents everywhere know the value of bringing in jobs and are hard pressed to find new ways of changing things. Saginaw residents are just pushing the issue but no formal changes have been brought to the market as of yet. Legislators have to look at the issue and see what the possibilities are. There certainly is room for slots parlors throughout the state but no one knows how much resistance the state will get if a real slots plan is initiated and brought to the table. Though there is a benefit, there also is a downside and further regulation that has to be planned for. Only time will tell whether or not gamblers are going to make a big push for gaming and whether or not legislators of the state are going to listen.

Who would have though the question of smoking would meet up with gambling? First of all there is the smoking issue. Many people believe that smoking is a contributor to the rate of lung cancer and smoke-related illnesses. They also believe that smoking inhibits the breathing capabilities of those around smokers. Second-hand smoke has been a huge argument throughout the past decade or so and a lot of the push to eliminate smoking revolves around second-hand smokers. 

So where does gambling come into the mix? Casinos. The latest issue has started in the state of Michigan. Lawmakers are saying that second-hand smoke should be banned, but not in the state’s casinos. The decision was a compromise legislators made and will most likely be signed off on by the Governor within the next few weeks. The argument is under a lot of criticism since legislators seem to have completely opposing beliefs when it comes to non-casino public areas. 

Banning smoking in all areas except casinos is a bold move by legislators. Smoking is still allowed on the gaming floor, although it won’t be allowed in bars and restaurants. Republicans are trying to support their position that if smoking is considered to be illegal, then it should be illegal in all areas. This new smoking ban makes Michigan the 38^th state to try to ban smoking. Legislators have become more and more aware of the difficulties of this smoking issue. Employees are a focus of the concerns legislators have and they say that workers at casinos should not be exposed to smoking for the durations of their shifts. 

Casinos have worked to find exemptions from the ban. They want their customers to be allowed to smoke. Traditionally, a good portion of smokers visit casinos for gambling fun and casinos don’t want to lose that market, or any portion of it. They want to build a refuge for smokers. Other cities are reporting that when their areas banned smoking, there was a marked decline in customers and in turn, revenues. Michigan casinos know that their revenues are threatened if they are forced to ban smoking. They want to avoid that at all costs due to their numbers already being down due to the recession. Losing more money, could put them in such difficult positions they won’t be able to sustain themselves.

`Secondhand smoke has produced many arguments over the years. Some believe that it is an important factor contributing to cancer and other smoke-related illnesses. They believe that secondhand smoke may be more detrimental than smoking due to the lack of a filter.  A lot of people have deemed the notion illogical and opposing sides keep on facing off against each other for reasonable compromises. The realty is that it’s a deep-seeded debate and it will take time to get through and find a solution. 

The latest take on the issue has come from the state of Michigan. Michigan lawmakers are stating that according to a new compromised law, that secondhand smoke is dangerous in all places in Michigan except for on Detroit casino floors. The compromise that was reached this week by lawmakers and it is expected to be signed by Governor Jennifer Granholm. 

The new ban is applicable to public places and has one exception—Detroit-area casinos. Smoking will not be allowed at casino bars or restaurants but lobbyists are strong enough to keep the smoking legal on gaming floors. Although Republicans did not agree with the exception, the ban was found to exclude gaming floors. Republicans are trying to support their stance that if smoking is illegal, it should be illegal in all areas of public attendance—and that includes casino floors. This new smoking ban makes Michigan the 38^th state to try to ban smoking. The state has become more and more aware of sensitivities to smoking and secondhand smoke. Employees are a focus of the concerns legislators have, citing that they are expected to be around smoke all day long during their shifts. Casinos have lobbied hard to be exempt from smoking bans. They know that smoking is one of the draws of casinos—they are one of the few places where smokers can still be free to light up. They want the draw and to be a haven for smokers. 
Some areas like Las Vegas and Atlantic City are blaming smoking bans for a decline in revenues. They are stating that due to the changes in legislation, smokers are opting out of gambling. It was their one safe “haven” where they could smoke and now that legislators are taking it away from them, they are choosing not to patronize casinos.

Greektown Casino is located in the hard-hit city of Detroit, Michigan. The state as a whole suffered greatly due to the recession of 2008-2009. Much of the state’s economy was based on manufacturing and that took a huge dive during the economic downturn. That cause a housing market crisis and the nationwide credit crash didn’t make anything better. Detroit became a wasteland of sorts throughout the recession. One resident, Clyde Benton said, “Walking in my old neighborhood is depressing…home after home is empty and deteriorating…It’s like a ghost town due to all the foreclosures.” Benton is not alone in his thinking. Many people remember what the city once was and are saddened at its new state.

One business that’s suffered greatly is the Greektown Casino. The casino has had a difficult time throughout the recession and had to file bankruptcy protection in 2009. Now a second plan to get the casino out of its financial predicament is underway. US Bankruptcy Court Judge Walter Shapero told casino officials and creditors that he will sign an order to approve the disclosure statement. The statement would clear the way to start the plan later next week for creditor vote.  There is a meeting scheduled for January 12^th that should let all creditors decide what to ultimately do with the struggling casino. The goal is to have a tangible plan ready by the end of January 2010.

The new plan would ensure that bondholders receive 6% of all common stock during the reorganization and they have rights to the $185 million in new preferred stock. The plan is in place to buy out the secured lenders and give improved recovery options to unsecured lenders. After the restructure, MFC Global Investment Management, Oppenheimer Funds Inc., Brigade Capital Management and Sola Ltd. would own the other 94% of the casino. Hopefully, the restructuring will allow the company to regroup and start operating again post-recession. The casino was once a huge facility that brought in billions of dollars. It opened its doors back in November 11^th of 2000 and was operated at the time by Millennium Management Group. The casino has gone through many changes over the past year—including some development and expansion efforts as per investor request.