As applications arrived in Harrisburg for one of Pennsylvania’s 14 new slot machine parlor licenses, I was interested to read that one of the applications lists four minor children as "associated applicants," or investors, in the project (click on the link above, scroll down to application #6, HSP Gaming, LP). Of course, this is really an investment by a parent on behalf of a minor child who will own a share of the casino if their applicant group wins the license.
In many respects it is a very nice gift – giving your children a share of a lucrative business so that they can have long term financial security. But the irony of this is just amazing. These minor children wouldn’t be allowed to enter a casino right now, or even purchase a lottery ticket, but they can own part of a casino. And of course we don’t let our kids gamble because of the corrupting influence it can have . . .
Funny how capitalism works.