Posted on: January 31, 2024, 02:54h.
Last updated on: January 31, 2024, 02:54h.
The founder and co-chief investment officer of Citadel, Ken Griffin, expressed his concerns about casino gaming expansion legislation in Florida in his latest article for the Miami Herald. He stated that more casinos could hinder the state’s economic development.
He pointed out that in 2018, Florida voters approved a ballot initiative that states casino gaming expansion must be confirmed by voters, not politicians. Griffin believes that the currently proposed legislative bills are an attempt to sidestep the voters’ decision and expressed his skepticism about the recent resort casino efforts in the Miami area.
Unique Perspective from Griffin
Ken Griffin, though not mentioned in his article, has a unique perspective on the casino expansion matter. He recently moved his hedge fund, Citadel, to Miami from Chicago, citing crime and the quality of life. Griffin does not support the use of casinos to generate jobs and economic growth.
Griffin has expressed that casinos often profit from residents with gambling problems, leading to negative impacts on communities. As a long-time donor to Republican candidates, he has demonstrated his opposition to casino expansion in Illinois, which drove him to move Citadel to Florida.
Florida’s Allure for Casinos and Griffin’s Leverage
Florida is indeed an attractive potential market for casino operators, given its substantial population size and rapid growth. However, Griffin, with his significant net worth, could play a key role in influencing the decisions related to casino expansion in the state.
It remains to be seen how Griffin’s viewpoint and potential influence may shape the future of casino gaming in Florida, but it is clear from his article that he is committed to defending the state from new gaming venues.
“Allowing casinos to harm thriving communities and undermine Florida families is like willingly dumping toxic waste into the Everglades,” concluded Griffin in the Herald. “Casinos are a bad bet for South Florida. We need to defeat this reckless legislation, defend our personal rights as voters and protect Florida’s future.”