Casinos are a bad bet for Florida. Ken Griffin referred to the contribution of casinos to social issues, such as addiction, bankruptcies, and broken families expressing concerns about the potential increase in problem gambling and its associated negative impacts on individuals and communities.
Ken Griffin, the founder, CEO, and Co-Chief Investment Officer of Citadel Miami, expressed appreciation for Florida’s creative and innovative workforce. The state’s thriving status, characterized by vibrant neighborhoods and a booming economy, is attributed to effective governance and a thoughtful electorate.
Drawing on decades of research, Griffin argues against urban casinos, citing their proven damage to communities and the erosion of overall quality of life. Concerns are raised about the promotion of gambling addiction by local casinos, often profiting from residents facing gambling problems. The negative impacts on lives, families, and community crime rates are emphasized, with reference to metrics such as reduced home values reported by the National Association of Realtors.
In 2018, over 70% of Florida voters granted exclusive power to citizens, rather than politicians, to authorize casino expansion. However, Griffin expresses concern about new legislation, Senate Bill 1054 and House Bill 1127, which introduces “permit relocation,” allowing casino expansion to bypass citizen approval. This legislative maneuver is criticized as a gimmick created by lobbyists and special interest groups, disregarding voters’ voices and jeopardizing Florida’s momentum.
Griffin called to defeat the proposed legislation, defend personal rights as voters, and protect Florida’s future.