Ken Griffin: Casinos are a bad bet for Florida | Letters to the editor

Thanks to a creative, innovative workforce and a thoughtful electorate, the people of Florida have built a thriving state. With vibrant neighborhoods and a booming economy, Florida has become a powerful symbol of how good governance can improve people’s lives.

The performance of this state speaks more loudly than any words I could possibly write. Millions of Americans — including my family and many of my colleagues — have chosen to relocate to Florida to escape cities and states plagued by rampant crime, poor schools and limited opportunity.

Protecting the promise of this great state requires constant vigilance and a commitment to say no when change will undermine our hard-earned and well-deserved quality of life. One threat to our shared prosperity lurks in proposed legislation in Tallahassee: casino expansion.

Decades of meaningful, measurable research proves that urban casinos damage communities and erode quality of life. One of the main reasons is that local casinos promote gambling addiction. Too often, local casinos earn a majority of their profits from residents with gambling problems. This leads to broken lives, shattered families and higher crime rates in the community. One can see the damage across numerous metrics. For example, nearby home values are reduced by the opening of casinos according to the National Association of Realtors.

Floridians appreciate this reality.

In 2018, over 70% of Florida voters gave citizens, rather than politicians, the exclusive power to authorize casino expansion. Floridians had the good sense to hold casino expansion to the highest of standards. But new legislation, Senate Bill 1054 and House Bill 1127, would allow “permit relocation” – casino expansion side-stepping our required citizen approval. It’s a legislative gimmick created by lobbyists and special interest groups that blatantly disregards our voice as voters and puts Florida’s momentum at risk.

Allowing casinos to harm thriving communities and undermine Florida families is like willingly dumping toxic waste into the Everglades. 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.

Ken Griffin

founder, CEO and co-chief investment officer

Citadel

Miami

This story was originally published January 30, 2024 at 6:10 PM.