SugarHouse casino, as well as most other casinos in the country, offer their customers unlimited lines of credit, which can only be used to gamble at the casino. There is no interest on the line of credit, and it must be paid back in 30 days.
The casinos call this a "convenience" so you don't have to carry large amounts of cash to the casino — but they'll happily give you more cash than you have. Having access to a line of credit makes a person more likely to keep playing — making SugarHouse's billionaire investors richer.
Billionaire investors tried payday loans to make money, but people saw through that scam. Then they tried sub-prime mortgages, and brought down the global economy. Now they're pushing quicksand credit.
In its first year of existence, SugarHouse has had numerous negative effects on Philadelphia and its residents — and quicksand credit is one of the worst causes.
How can I get involved?
Share stories about what you've seen or heard at SugarHouse, and how they're hurting people. You can email us, or you can text or call our anonymous reporting line at (215) 821-7231. Shortly, we'll be adding an anonymous web reporting option as well.
Talk to your friends and neighbors about the dangers of quicksand credit. If you would like to request a group presentation from Casino-Free Philly on quicksand credit, just email us and let us know.
Make a donation to keep our campaign going. We'll be collecting stories, planning actions, talking with neighbors and fighting these predatory practices for some time — and we can't forget that a possible second casino license is still waiting in the wings. Your continued support helps make sure we can stay in this fight until we've won. Thank you!