foxwoods (gambling)
There are many reasons why people gamble and what the advantages and disadvantages are of risking your bank account on the roll of the dice or the luck of the draw. I originally set out to try and explain why people gamble, but I realized that gambling is just as much of a business or industry as anything else. I researched Foxwoods casino, in CT, and the business behind that. From there I will attempt to explain the "cause and effect" of gambling. Gambling has made much more sense to me now, and I hope it will do the same for you. Foxwoods resort casino, the largest of its kind in North America and most profitable casino in the world, got its start with the advent of a bingo hall in 1987. At this time the Mashantucket Pequots secured a $4 million loan from the Arab American Bank. The bingo hall netted $13 million in gross sales and yielded $2.6 million in profits in its first year of operation. Today, the Pequots are one of the most respected Indian Nations in Native America because of the way they have used the success of Foxwoods Resort Casino to reconstruct their infrastructure and tribal homeland. Currently, the casino is still expanding. The Pequots are building a 17- story hotel and a $200 million museum.
Foxwoods employs 11,000 workers in a region hit hard by defense industry cutbacks. They hired 2,000 workers the same week that the Electric Boat Co., a submarine maker, laid off 2,300 workers in 1992. These defense cutbacks have led to the emergence of the Pequots as a major economic player with jobs and money generated by Foxwoods Resort Casino. In 1995, Mickey Brown stated that the tribe had given the state of Connecticut $307 million since 1991 and since 1992, Foxwoods spent $319 million on goods and services. Part of the allure of the pact for the State of Connecticut stemmed from the Pentagon cutbacks on defense contractors. The defense contractors did not take the offers of direct aid to help with diversity and to save jobs, so there was a need for diversification.
Some common words found in the essay are:
City Foxwoods, Pequot Tribe, China's Wall, Mohegan Sun, Treasury Department, , Groton CT, Resort Casino, Mickey Brown, Genting International, foxwoods resort, resort casino, foxwoods resort casino, slot machines, slot revenues, american indian tribes, indian gaming, mohegan tribe, foxwoods casino, pequots major, pact connecticut, amount money, operate slot machines,
Approximate Word count = 1445
Approximate Pages = 6 (250 words per page double spaced)
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