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PartyT
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USA
21002 Posts |
 Posted - 08/10/2009 : 7:19:54 PM
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States End Up Losers in Gambling Pullback
Consumers' Timid Betting Leads to Drop in Income From Commercial Casinos and Lotteries, Exacerbating Budget Deficits
States' revenue from casinos, slot machines and lotteries is falling for the first time in many of the 48 states that have grown to depend on gambling as a crucial source of income.
Revenue contributed by commercial casinos to state and local governments was down 2.2% in 2008, to $5.7 billion, according to the American Gaming Association, an industry trade group. In many states, the declines have continued.
Eight of the 12 states that allow commercial casinos saw their take of gambling revenue fall in the fiscal year ended June of this year, compared with the same period a year ago, according to data from states and the Nelson A. Rockefeller Institute of Government at the State University of New York.
By CONOR DOUGHERTY
http://online.wsj.com/article/SB124985382195717807.html
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States End Up Losers in Gambling Pullback
