Meh. I think casinos are tacky, but I realize the decision isn't based on my personal tastes.
I don't think the casino will be too big of a draw for out-of-towners (who wants to drive downtown and then pay $20+ to park), but it may be fun for those already partying/visiting the city.
I don't have the stats handy, but I remember hearing on talk radio that casinos don't actually bring much in terms of value to the cities that build them.
It's too bad we can't funnel this kind of private money into actually building transit.