This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Missouri City To Vote On Proposed Casino Project


CAPE GIRARDEAU, Mo. (AP) â¿¿ For some in Cape Girardeau, a proposed casino project is a beacon of economic growth for the city's struggling downtown. For others, it offers false promise and is likely to spur addiction and divorce while draining profits from existing businesses.

Voters will settle the debate next week by casting ballots on whether to allow a casino in the city. It is a decision with statewide implications, as Missouri regulators consider proposals from several cities for the state's last available casino license.

The casino debate cuts across a city known for its conservative politics, essentially pitting hopes for economic development against concerns about immorality and social costs.

Even if residents in Cape Girardeau approve gambling, it does not guarantee the Missouri Gaming Commission will award the city the license. But a rejection all but ensures it will not happen, and it is uncertain when and if another such opportunity might present itself.

"It is probably one of the last, best opportunities to revitalize Cape's downtown, and we think the possibility of bringing over 400 jobs to Cape Girardeau is something that in this economy we desperately need," said Trent Summers, a spokesman for the campaign committee that supports developing a casino.

Critics also express urgency. Many of their objections are couched in religious and moral terms, presented as a litany of social ills: divorce, addiction, crime, depression and home foreclosures.

Doug Austin, a retired marketing director who moved to Cape Girardeau from Oklahoma City, said he doubts the casino would help economically. Rather than generate more money, Austin fears it would sop up business from local restaurants and bars.

"There aren't no new pennies falling from heaven to be used for gambling ... that money has got to come from somewhere," said Austin, who has helped organize opposition to the proposed casino.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs