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Detroit: Bailed Out by Gambling Money?

WASHINGTON — The struggles and bankruptcy of the famed Motor City [1] of Detroit has been well-documented. Now, some suggest that the city could gain back valuable and needed revenue from casino gamblers.

casino [2]Reuters published an analysis [3] that suggested that gambling revenue could save the struggling Motor City.

There are three casinos in Detroit and are a significant part of the city’s emergency manager Kevyn Orr. Orr, appointed by Republican Governor Rick Snyder, is trying to find a way to get Detroit out of bankruptcy and balance its budget. Detroit’s public employee unions have protested Orr’s cost-cutting measures [4], some of which targeted the pension deals that led to the city’s bankruptcy.

The media has reported on Detroit’s financial woes and ignored President Barack Obama’s promise [5] to keep an eye out and to help rescue the Motor City from its woes.

Other philanthropic groups like the Ford Foundation and Kresge Foundation said they will donate $330 million to help the city, only after it exits bankruptcy. The bankruptcy was caused by bad bond sales and heavy public employee pensions.