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BREAKING NEWS
June 18, 2007
Hotel Welcomes First Guests Since 1932
The West Baden Springs Hotel, a southern Indiana landmark that drew the famous and infamous before closing its guest register 75 years ago, has formally reopened as a refurbished resort eager to draw gamblers and other visitors.

Following a ribbon-cutting ceremony that capped a $90 million, nearly two-year restoration, the first guest to check in when the doors opened May 23 was Betty Oakley, the daughter of a former hotel gardener.
.dome
The hotel -- about 50 miles northwest of Louisville, Kentucky -- features what was once the world's largest free-span dome, soaring 110 feet above the atrium floor. Six circular stories contain 246 rooms.

"This is the grandest, most significant historic preservation project in the history of this state," said Marsh Davis, president of Historic Landmarks Foundation of Indiana, which had worked since 1991 to save the building.

During their 1920s peak, the West Baden hotel competed with the French Lick Springs Hotel a mile away for well-to-do and celebrity guests, including Gen. John J. Pershing and Al Capone. National League baseball teams sometimes held spring training at the hotels in the first two decades of the 20th century.

Restoration of the two hotels was part of the lauching of the $382 million French Lick Resort Casino complex. The West Baden hotel's reopening was eagerly awaited by local residents who once feared the structure, designated a National Historic Landmark in 1987, would collapse from neglect.
Associated Press


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Roll of the Dice On Casino Takes Indiana Town Back to 1929
Category: NEWS
By: Pete Kendall, June 20, 2007

Gambling fever blossoms in a bull market when the societal urge to give in and go for broke is strongest. It continues to gain stature in the early phases of a bear market. The main function of a bear market is the destruction of capital, and few “investment” venues are quicker and more thorough at this than gaming tables, lotteries and slot machines.
The Elliott Wave Financial Forecast, September 2004/May 2005


west baden casino
I'm sure this article won't register with most people.  Until age 9 I lived up on a hill overlooking this hotel.  Went to band camp in it.  My father used to talk about growing up in the ‘20's & ‘30's when the area was filled with casinos & hotels & working in this hotel.  The big hotels went under in the depression & the casinos dried up, too.  Dad liked to point out that the preacher's house had been a casino.  Now the big showpiece hotel is back, and they've put in a "legal" casino.  Indiana allows casinos on waterways, a throwback concession to riverboats.  The new casinos is an ugly concrete building with a moat around it to meet the water requirement.  The area is just alive with everyone so excited about how the good times are here again.  Me, I see the sign of a big top with another depression around the corner.
--Matt R.

EWT predicts that while gambling is likely to persist through the start of the bear market, it will “probably get seedier” and fall on hard times like everything else.

In addition to expressing the peak level fascination with “going for broke” with a spin of the roulette wheel, the reawakening of the West Baden Springs Hotel is another classic bull market undoing of damage done by a preceding bear market. According to various accounts, “The stock market crash in 1929 caused the hotel to fall on hard times.” It was closed at the bottom in 1932. So the West Baden hit on went into a steep decline and eventually precisely in line with the last Supercycle degree bear market. If EWI is right and fourth waves offer of glimpse of the negative consequences to come in the next bear market of one larger degree, the  new West Baden Springs Hotel will have a tough time making a go of it. Also notice that the year the structure was designated a national historic site, 1987, the same years as the last notorious stock market crash.

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