Recent articles in both The News and several national news magazines have pointed out that the enticing profits that casino promoters promise to impoverished communities often don't materialize. Driven by their desperation, these communities have entered into business arrangements with predatory entrepreneurs. As described in The News article, the current Seneca deal siphons large amounts of casino profits - money that originated in the pockets of area citizens and should rightfully be benefiting them - into the pockets of a billionaire on the other side of the world.
To make matters worse, the contract contains a clause that postpones prepayment of the five-year loan's principal to the end. This is a very appealing promise, but it allows the overseas entrepreneur to reclaim many of the casino's assets if it defaults. The story also notes the outrageous 29 percent adjustable interest rate on the loan. Does this sound like a way to bring economic relief to our city?

I suggest that an advisory group of the city's most savvy businessmen be assembled to evaluate any casino deal that is proposed. If the Senecas have a legal right to impose another casino on our area, then the federal Bureau of Indian Affairs and our government leaders also have a responsibility to see that the deal is fair to all and will truly benefit our economy.

Poverty breeds desperation, and desperation breeds disaster. What we need most are business and education enterprises that are truly dedicated to serving the best interests of our community.

ALICE STEIN
Tonawanda

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