The consensus emerging among financial analysts attending this week's state gambling conference in
This gives the state Gaming Control Board even more compelling evidence that the region has reached its limit on gambling.
State regulators made the right decision in December to revoke the license of the long-delayed Foxwoods Casino.
Even with the added allure of being able to offer table games along with slot machines, Foxwoods never found its footing on the waterfront, in part, because investors hedged their bets.
That appeared to be plain from the fund-raising difficulties encountered by Foxwoods, which partnered with three different operators as it attempted to develop the casino.
Now, those same financial analysts are saying they're still not ready to get back in the game here. Money, or lack of it, talks.
For its part, the gaming board has acknowledged that it's unlikely to offer the Foxwoods license to any other casino applicant until legal challenges wind through the courts. What's more, the unexpectedly slow growth demonstrated by the city's lone casino, SugarHouse, means there is no rush to get another casino up and running here. Another competitor would only be chasing the apparently recession-limited dollars of area gamblers.
This is no time to double-down on a second casino along the Delaware River - or anywhere else in the city. State gaming officials really have no choice but to listen when both investors and gamblers say it's time to hold 'em.
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